UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-CSR
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
100 Summer Street, 4th Floor, Boston, MA 02110
(Address of principal executive offices) (Zip code)
The Corporation Trust Incorporated
2405 York Road, Suite 201, Lutherville-Timonium, Maryland 21093
(Name and address of agent for service)
Registrant’s telephone number, including area code: (415) 670-2000
Date of fiscal year end: October 31, 2021
Date of reporting period: April 30, 2021
Item 1. | Reports to Stockholders. |
(a) The Report to Shareholders is attached herewith.
APRIL 30, 2021 |
2021 Semi-Annual Report (Unaudited)
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iShares, Inc.
🌑 | iShares International High Yield Bond ETF | HYXU | Cboe BZX |
🌑 | iShares J.P. Morgan EM Corporate Bond ETF | CEMB | Cboe BZX |
🌑 | iShares J.P. Morgan EM High Yield Bond ETF | EMHY | Cboe BZX |
🌑 | iShares J.P. Morgan EM Local Currency Bond ETF | LEMB | NYSE Arca |
🌑 | iShares US & Intl High Yield Corp Bond ETF | GHYG | Cboe BZX |
Dear Shareholder,
The 12-month reporting period as of April 30, 2021 reflected a remarkable period of adaptation and recovery, as the global economy dealt with the implications of the coronavirus (or “COVID-19”) pandemic. As the period began, the response to the virus’s spread was well underway, and countries around the world felt the effect of economically disruptive countermeasures. Stay-at-home orders and closures of non-essential businesses were imposed in many parts of the world, workers were laid off, and unemployment claims spiked, causing a global recession.
As May 2020 began, stocks had just begun to recover from the lowest point following the onset of the pandemic. This recovery continued throughout the reporting period, as businesses continued re-opening and governments learned to adapt to life with the virus. Equity prices rose through the summer, fed by strong fiscal and monetary support and improving economic indicators. The implementation of mass vaccination campaigns and passage of an additional $1.9 trillion of fiscal stimulus further boosted stocks, and many equity indices neared or surpassed all-time highs late in the reporting period. In the United States, both large- and small-capitalization stocks posted a significant advance. International equities also gained, as both developed countries and emerging markets rebounded substantially.
The 10-year U.S. Treasury yield (which is inversely related to bond prices) had fallen sharply prior to the beginning of the reporting period, which meant bonds were priced for extreme risk avoidance and economic disruption. Despite expectations of doom and gloom, the economy expanded rapidly, stoking inflation concerns late in the reporting period, which led to higher yields and a negative overall return for most U.S. Treasuries. In the corporate bond market, support from the U.S. Federal Reserve (the “Fed”) assuaged credit concerns and led to substantial returns for high-yield corporate bonds, although investment-grade corporates declined slightly.
The Fed remained committed to accommodative monetary policy by maintaining near zero interest rates and by announcing that inflation could exceed its 2% target for a sustained period without triggering a rate increase. To stabilize credit markets, the Fed also continued purchasing significant quantities of bonds, as did other influential central banks around the world, including the European Central Bank and the Bank of Japan.
Looking ahead, while coronavirus-related disruptions have clearly hindered worldwide economic growth, we believe that the global expansion will continue to accelerate as vaccination efforts ramp up and pent-up consumer demand leads to higher spending. While we expect inflation to increase somewhat as the expansion continues, we believe the recent uptick owes more to temporary supply disruptions than a lasting change in fundamentals. The change in Fed policy also means that moderate inflation is less likely to be followed by interest rate hikes that could threaten the economic expansion.
Overall, we favor a positive stance toward risk, with an overweight in equities. We see U.S. and Asian equities outside of Japan benefiting from structural growth trends in technology, while emerging markets should be particularly helped by a vaccine-led economic expansion. While we are underweight overall on credit, global high-yield and Asian bonds present attractive opportunities. We believe that international diversification and a focus on sustainability can help provide portfolio resilience, and the disruption created by the coronavirus appears to be accelerating the shift toward sustainable investments.
In this environment, our view is that investors need to think globally, extend their scope across a broad array of asset classes, and be nimble as market conditions change. We encourage you to talk with your financial advisor and visit iShares.com for further insight about investing in today’s markets.
Sincerely,
Rob Kapito
President, BlackRock, Inc.
Rob Kapito
President, BlackRock, Inc.
Total Returns as of April 30, 2021 | ||||
6-Month | 12-Month | |||
U.S. large cap equities | 28.85% | 45.98% | ||
U.S. small cap equities | 48.06 | 74.91 | ||
International equities | 28.84 | 39.88 | ||
Emerging market equities | 22.95 | 48.71 | ||
3-month Treasury bills | 0.05 | 0.11 | ||
U.S. Treasury securities | (6.26) | (7.79) | ||
U.S. investment grade bonds | (1.52) | (0.27) | ||
Tax-exempt municipal bonds | 2.42 | 7.40 | ||
U.S. high yield bonds | 7.98 | 19.57 | ||
Past performance is not an indication of future results. Index performance is shown for illustrative purposes only. You cannot invest directly in an index.
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2 | THIS PAGE IS NOT PART OF YOUR FUND REPORT |
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Fund Summary as of April 30, 2021 | iShares® International High Yield Bond ETF |
Investment Objective
The iShares International High Yield 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.
Performance
Average Annual Total Returns | Cumulative Total Returns | |||||||||||||||||||||||||||||||
6 Months | 1 Year | 5 Years | Since Inception | 1 Year | 5 Years | Since Inception | ||||||||||||||||||||||||||
Fund NAV | 10.52 | % | 24.92 | % | 5.06 | % | 4.28 | % | 24.92 | % | 27.99 | % | 46.31 | % | ||||||||||||||||||
Fund Market | 10.64 | 24.68 | 4.94 | 4.28 | 24.68 | 27.25 | 46.29 | |||||||||||||||||||||||||
Index | 10.66 | 25.51 | 5.42 | 4.50 | 25.51 | 30.18 | 49.09 |
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 9 for more information.
Expense Example
Actual | Hypothetical 5% Return | |||||||||||||||||||||||||
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| Beginning Account Value (11/01/20) | | | Ending Account Value (04/30/21) | | | Expenses Paid During the Period | (a) | Beginning Account Value (11/01/20) | | Ending Account Value (04/30/21) | | | Expenses Paid During the Period | (a) | | Annualized Expense Ratio | | ||||||||
$ 1,000.00 | $ 1,105.20 | $ 2.09 | $ 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). Other fees, such as brokerage commissions and other fees to financial intermediaries, may be paid which are not reflected in the tables and examples above. See “Shareholder Expenses” on page 9 for more information. |
Portfolio Information
ALLOCATION BY CREDIT QUALITY
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Moody’s Credit Rating* | | Percent of Total Investments | (a) | |
Baa | 4.7 | % | ||
Ba | 55.9 | |||
B | 19.9 | |||
Caa | 6.9 | |||
Not Rated | 12.6 |
TEN LARGEST GEOGRAPHIC ALLOCATION
Country/Geographic Region | | Percent of Total Investments | (a) | |
United States | 17.7 | % | ||
Italy | 17.4 | |||
United Kingdom | 12.6 | |||
France | 11.8 | |||
Germany | 10.8 | |||
Spain | 5.8 | |||
Luxembourg | 4.7 | |||
Netherlands | 3.7 | |||
Canada | 3.0 | |||
Sweden | 2.6 |
* | Credit quality ratings shown reflect the ratings assigned by Moody’s Investors Service (“Moody’s”), a widely used independent, nationally recognized statistical rating organization. Moody’s credit ratings are opinions of the credit quality of individual obligations or of an issuer’s general creditworthiness. Investment grade ratings are credit ratings of Baa or higher. Below investment grade ratings are credit ratings of Ba or lower. Unrated investments do not necessarily indicate low credit quality. Credit quality ratings are subject to change. |
(a) | Excludes money market funds. |
4 | 2 0 2 1 I SHARES SEMI - ANNUAL REPORT TO SHAREHOLDERS |
Fund Summary as of April 30, 2021 | iShares® J.P. Morgan EM Corporate Bond ETF |
Investment Objective
The iShares J.P. Morgan EM 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 J.P. Morgan CEMBI Broad Diversified Core Index (the “Index”). The Fund invests in a representative sample of securities included in the Index that collectively has an investment profile similar to the Index. Due to the use of representative sampling, the Fund may or may not hold all of the securities that are included in the Index.
Performance
Average Annual Total Returns | Cumulative Total Returns | |||||||||||||||||||||||||||||||
6 Months | 1 Year | 5 Years | Since Inception | 1 Year | 5 Years | Since Inception | ||||||||||||||||||||||||||
Fund NAV | 3.10 | % | 13.08 | % | 5.48 | % | 4.61 | % | 13.08 | % | 30.54 | % | 50.23 | % | ||||||||||||||||||
Fund Market | 3.70 | 13.25 | 4.79 | 4.68 | 13.25 | 26.37 | 51.23 | |||||||||||||||||||||||||
Index | 3.47 | 13.82 | 6.09 | 5.22 | 13.82 | 34.41 | 58.35 |
The inception date of the Fund was 4/17/12. The first day of secondary market trading was 4/19/12.
Index Performance through May 31, 2017 reflects the performance of the Morningstar® Emerging Markets Corporate Bond IndexSM. Index performance beginning on June 1, 2017 reflects the performance of the J.P. Morgan CEMBI Broad Diversified Core Index.
Past performance is no guarantee of future results. Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. See “About Fund Performance” on page 9 for more information.
Expense Example
Actual | Hypothetical 5% Return | |||||||||||||||||||||||||
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| Beginning Account Value (11/01/20) | | | Ending Account Value (04/30/21) | | | Expenses Paid During the Period | (a) | Beginning Account Value (11/01/20) | | Ending Account Value (04/30/21) | | | Expenses Paid During the Period | (a) | | Annualized Expense Ratio | | ||||||||
$ 1,000.00 | $ 1,031.00 | $ 2.52 | $ 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). Other fees, such as brokerage commissions and other fees to financial intermediaries, may be paid which are not reflected in the tables and examples above. See “Shareholder Expenses” on page 9 for more information. |
Portfolio Information
ALLOCATION BY CREDIT QUALITY
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Moody’s Credit Rating* | | Percent of Total Investments | (a) | |
Aa | 5.7 | % | ||
A | 17.3 | |||
Baa | 31.3 | |||
Ba | 15.7 | |||
B | 8.1 | |||
Caa | 2.7 | |||
Not Rated | 19.2 |
TEN LARGEST GEOGRAPHIC ALLOCATION
Country/Geographic Region | | Percent of Total Investments | (a) | |
China | 8.8 | % | ||
Brazil | 5.8 | |||
Mexico | 5.4 | |||
Hong Kong | 5.0 | |||
United Arab Emirates | 4.8 | |||
India | 4.7 | |||
Russia | 4.7 | |||
Saudi Arabia | 4.5 | |||
Singapore | 4.4 | |||
South Korea | 4.3 |
* | Credit quality ratings shown reflect the ratings assigned by Moody’s Investors Service (“Moody’s”), a widely used independent, nationally recognized statistical rating organization. Moody’s credit ratings are opinions of the credit quality of individual obligations or of an issuer’s general creditworthiness. Investment grade ratings are credit ratings of Baa or higher.Below investment grade ratings are credit ratings of Ba or lower. Unrated investments do not necessarily indicate low credit quality. Credit quality ratings are subject to change. |
(a) | Excludes money market funds. |
FUND SUMMARY | 5 |
Fund Summary as of April 30, 2021 | iShares® J.P. Morgan EM High Yield Bond ETF |
Investment Objective
The iShares J.P. Morgan EM 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 J.P. Morgan USD Emerging Markets High Yield 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.
Performance
Average Annual Total Returns | Cumulative Total Returns | |||||||||||||||||||||||||||||||
6 Months | 1 Year | 5 Years | Since Inception | 1 Year | 5 Years | Since Inception | ||||||||||||||||||||||||||
Fund NAV | 7.98 | % | 22.45 | % | 4.92 | % | 4.92 | % | 22.45 | % | 27.14 | % | 54.68 | % | ||||||||||||||||||
Fund Market | 8.04 | 22.10 | 4.96 | 4.97 | 22.10 | 27.39 | 55.27 | |||||||||||||||||||||||||
Index | 8.30 | 22.89 | 5.37 | 5.29 | 22.89 | 29.91 | 59.68 |
The inception date of the Fund was 4/3/12. The first day of secondary market trading was 4/3/12.
Index performance through March 01, 2020 reflects the performance of the Morningstar® Emerging Markets High Yield Bond IndexSM which terminated on April 01, 2020. Index performance beginning on March 02, 2020 reflects the performance of the J.P. Morgan USD Emerging Markets High Yield Bond Index.
Past performance is no guarantee of future results. Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. See “About Fund Performance” on page 9 for more information.
Expense Example
Actual | Hypothetical 5% Return | |||||||||||||||||||||||||
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| Beginning Account Value (11/01/20) | | | Ending Account Value (04/30/21) | | | Expenses Paid During the Period | (a) | Beginning Account Value (11/01/20) | | Ending Account Value (04/30/21) |
| | Expenses Paid During the Period |
(a) | | Annualized Expense Ratio | | ||||||||
$ 1,000.00 | $ 1,079.80 | $ 2.48 | $ 1,000.00 | $ 1,022.40 | $ 2.41 | 0.48 | % |
(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). Other fees, such as brokerage commissions and other fees to financial intermediaries, may be paid which are not reflected in the tables and examples above. See “Shareholder Expenses” on page 9 for more information. |
Portfolio Information
ALLOCATION BY CREDIT QUALITY
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Moody’s Credit Rating* | | Percent of Total Investments | (a) | |
Baa | 1.3 | % | ||
Ba | 40.5 | |||
B | 32.8 | |||
Caa | 6.0 | |||
Ca | 3.1 | |||
Not Rated | 16.3 |
TEN LARGEST GEOGRAPHIC ALLOCATION
Country/Geographic Region | | Percent of Total Investments | (a) | |
Brazil | 16.3 | % | ||
Turkey | 10.7 | |||
Mexico | 8.7 | |||
China | 6.2 | |||
South Africa | 3.8 | |||
Argentina | 3.8 | |||
Oman | 3.7 | |||
Egypt | 3.1 | |||
Dominican Republic | 3.1 | |||
Bahrain | 2.5 |
* | Credit quality ratings shown reflect the ratings assigned by Moody’s Investors Service (“Moody’s”), a widely used independent, nationally recognized statistical rating organization. Moody’s credit ratings are opinions of the credit quality of individual obligations or of an issuer’s general creditworthiness. Investment grade ratings are credit ratings of Baa or higher. Below investment grade ratings are credit ratings of Ba or lower. Unrated investments do not necessarily indicate low credit quality. Credit quality ratings are subject to change. |
(a) | Excludes money market funds. |
6 | 2 0 2 1 I SHARES SEMI - ANNUAL REPORT TO SHAREHOLDERS |
Fund Summary as of April 30, 2021 | iShares® J.P. Morgan EM Local Currency Bond ETF |
Investment Objective
The iShares J.P. Morgan EM 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 J.P. Morgan GBI-EM Global Diversified 15% Cap 4.5% Floor Index (the “Index”). The Fund invests in a representative sample of securities included in the Index that collectively has an investment profile similar to the Index. Due to the use of representative sampling, the Fund may or may not hold all of the securities that are included in the Index.
Performance
Average Annual Total Returns | Cumulative Total Returns | |||||||||||||||||||||||||||||||
6 Months | 1 Year | 5 Years | Since Inception | 1 Year | 5 Years | Since Inception | ||||||||||||||||||||||||||
Fund NAV | 3.79 | % | 11.56 | % | 1.12 | % | 0.44 | % | 11.56 | % | 5.73 | % | 4.26 | % | ||||||||||||||||||
Fund Market | 4.10 | 13.23 | 1.18 | 0.46 | 13.23 | 6.04 | 4.47 | |||||||||||||||||||||||||
Index | 3.93 | 11.75 | 1.65 | 0.93 | 11.75 | 8.55 | 9.26 |
The inception date of the Fund was 10/18/11. The first day of secondary market trading was 10/20/11.
Index performance through May 31, 2017 reflects the performance of the Bloomberg Barclays Emerging Markets Broad Local Currency Bond Index. Index performance beginning on June 1, 2017 reflects the performance of the J.P. Morgan GBI-EM Global Diversified 15% Cap 4.5% Floor Index.
Past performance is no guarantee of future results. Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. See “About Fund Performance” on page 9 for more information.
Expense Example
Actual | Hypothetical 5% Return | |||||||||||||||||||||||||
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| Beginning Account Value (11/01/20) | | | Ending Account Value (04/30/21) | | | Expenses Paid During the Period | (a) | Beginning Account Value (11/01/20) | | Ending Account Value (04/30/21) | | | Expenses Paid During the Period | (a) | | Annualized Expense Ratio | | ||||||||
$ 1,000.00 | $ 1,037.90 | $ 1.52 | $ 1,000.00 | $ 1,023.30 | $ 1.51 | 0.30 | % |
(a) | Expenses are calculated using the Fund’s annualized expense ratio (as disclosed in the table), multiplied by the average account value for the period, multiplied by the number of days in the period (181 days) and divided by the number of days in the year (365 days). Other fees, such as brokerage commissions and other fees to financial intermediaries, may be paid which are not reflected in the tables and examples above. See “Shareholder Expenses” on page 9 for more information. |
Portfolio Information
ALLOCATION BY CREDIT QUALITY
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Moody’s Credit Rating* | | Percent of Total Investments | (a) | |
Aa | 4.6 | % | ||
A | 33.2 | |||
Baa | 43.1 | |||
Ba | 14.1 | |||
B | 4.5 | |||
Not Rated | 0.5 |
TEN LARGEST GEOGRAPHIC ALLOCATION
Country/Geographic Region | | Percent of Total Investments | (a) | |
China | 15.1 | % | ||
Indonesia | 6.8 | |||
Mexico | 5.6 | |||
Brazil | 5.2 | |||
Czech Republic | 4.6 | |||
Hungary | 4.6 | |||
Poland | 4.6 | |||
Malaysia | 4.5 | |||
Thailand | 4.5 | |||
Turkey | 4.5 |
* | Credit quality ratings shown reflect the ratings assigned by Moody’s Investors Service (“Moody’s”), a widely used independent, nationally recognized statistical rating organization. Moody’s credit ratings are opinions of the credit quality of individual obligations or of an issuer’s general creditworthiness. Investment grade ratings are credit ratings of Baa or higher. Below investment grade ratings are credit ratings of Ba or lower. Unrated investments do not necessarily indicate low credit quality. Credit quality ratings are subject to change. |
(a) | Excludes money market funds. |
FUND SUMMARY | 7 |
Fund Summary as of April 30, 2021 | iShares® US & Intl High Yield Corp Bond ETF |
Investment Objective
The iShares US & Intl High Yield Corp 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.
Performance
Average Annual Total Returns | Cumulative Total Returns | |||||||||||||||||||||||||||||||
6 Months | 1 Year | 5 Years | Since Inception | 1 Year | 5 Years | Since Inception | ||||||||||||||||||||||||||
Fund NAV | 8.37 | % | 19.45 | % | 6.21 | % | 5.24 | % | 19.45 | % | 35.17 | % | 59.02 | % | ||||||||||||||||||
Fund Market | 8.41 | 19.62 | 6.20 | 5.25 | 19.62 | 35.06 | 59.05 | |||||||||||||||||||||||||
Index | 8.38 | 19.48 | 6.31 | 5.38 | 19.48 | 35.81 | 60.90 |
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 9 for more information.
Expense Example
Actual | Hypothetical 5% Return | |||||||||||||||||||||||||
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| Beginning Account Value (11/01/20) | | | Ending Account Value (04/30/21) | | | Expenses Paid During the Period | (a) | Beginning Account Value (11/01/20) | | Ending Account Value (04/30/21) | | | Expenses Paid During the Period | (a) | | Annualized Expense Ratio | | ||||||||
$ 1,000.00 | $ 1,083.70 | $ 2.07 | $ 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). Other fees, such as brokerage commissions and other fees to financial intermediaries, may be paid which are not reflected in the tables and examples above. See “Shareholder Expenses” on page 9 for more information. |
Portfolio Information
ALLOCATION BY CREDIT QUALITY
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Moody’s Credit Rating* | | Percent of Total Investments | (a) | |
Baa | 2.9 | % | ||
Ba | 51.1 | |||
B | 31.2 | |||
Caa | 9.9 | |||
Ca | 0.2 | |||
Not Rated | 4.7 |
TEN LARGEST GEOGRAPHIC ALLOCATION
Country/Geographic Region | | Percent of Total Investments | (a) | |
United States | 66.5 | % | ||
Italy | 5.6 | |||
United Kingdom | 4.9 | |||
Germany | 4.5 | |||
France | 3.9 | |||
Canada | 2.8 | |||
Luxembourg | 1.9 | |||
Netherlands | 1.9 | |||
Spain | 1.7 | |||
Israel | 1.4 |
* | Credit quality ratings shown reflect the ratings assigned by Moody’s Investors Service (“Moody’s”), a widely used independent, nationally recognized statistical rating organization. Moody’s credit ratings are opinions of the credit quality of individual obligations or of an issuer’s general creditworthiness. Investment grade ratings are credit ratings of Baa or higher. Below investment grade ratings are credit ratings of Ba or lower. Unrated investments do not necessarily indicate low credit quality. Credit quality ratings are subject to change. |
(a) | Excludes money market funds. |
8 | 2 0 2 1 I SHARES SEMI - ANNUAL REPORT TO SHAREHOLDERS |
Past performance is not an indication of future results. Financial markets have experienced extreme volatility and trading in many instruments has been disrupted. These circumstances may continue for an extended period of time and may continue to affect adversely the value and liquidity of the fund’s investments. As a result, current performance may be lower or higher than the performance data quoted. Performance data current to the most recent month-end is available at iShares.com. Performance results assume reinvestment of all dividends and capital gain distributions and do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. The investment return and principal value of shares will vary with changes in market conditions. Shares may be worth more or less than their original cost when they are redeemed or sold in the market. Performance for certain funds may reflect a waiver of a portion of investment advisory fees. Without such a waiver, performance would have been lower.
Net asset value or “NAV” is the value of one share of a fund as calculated in accordance with the standard formula for valuing mutual fund shares. Beginning August 10, 2020, the price used to calculate market return (“Market Price”) is the closing price. Prior to August 10, 2020, Market Price was determined by using the midpoint between the highest bid and the lowest ask on the primary stock exchange on which shares of a fund are listed for trading, as of the time that such fund’s NAV is calculated. Since shares of a fund may not trade in the secondary market until after the fund’s inception, for the period from inception to the first day of secondary market trading in shares of the fund, the NAV of the fund is used as a proxy for the Market Price to calculate market returns. Market and NAV returns assume that dividends and capital gain distributions have been reinvested at Market Price and NAV, respectively.
An index is a statistical composite that tracks a specified financial market or sector. Unlike a fund, an index does not actually hold a portfolio of securities and therefore does not incur the expenses incurred by a fund. These expenses negatively impact fund performance. Also, market returns do not include brokerage commissions that may be payable on secondary market transactions. If brokerage commissions were included, market returns would be lower.
As a shareholder of your Fund, you incur two types of costs: (1) transaction costs, including brokerage commissions on purchases and sales of fund shares and (2) ongoing costs, including management fees and other fund expenses. The expense example, which is based on an investment of $1,000 invested at the beginning of the period (or from the commencement of operations if less than 6 months) and held through the end of the period, is intended to help you understand your ongoing costs (in dollars and cents) of investing in your Fund and to compare these costs with the ongoing costs of investing in other funds.
Actual Expenses – The table provides information about actual account values and actual expenses. Annualized expense ratios reflect contractual and voluntary fee waivers, if any. To estimate the expenses that you paid on your account over the period, simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number under the heading entitled “Expenses Paid During the Period.”
Hypothetical Example for Comparison Purposes – The table also provides information about hypothetical account values and hypothetical expenses based on your Fund’s actual expense ratio and an assumed rate of return of 5% per year before expenses. You may use this information to compare the ongoing costs of investing in your Fund and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds.
Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transactional costs, such as brokerage commissions and other fees paid on purchases and sales of fund shares. Therefore, the hypothetical examples are useful in comparing ongoing costs only and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would have been higher.
ABOUT FUND PERFORMANCE / SHAREHOLDER EXPENSES | 9 |
Schedule of Investments (unaudited) April 30, 2021 | iShares® International High Yield Bond ETF (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||||||
| ||||||||||||
Corporate Bonds & Notes | ||||||||||||
Austria — 0.2% | ||||||||||||
ams AG, 6.00%, 07/31/25 (Call 07/31/22)(a) | EUR | 100 | $ | 127,426 | ||||||||
|
| |||||||||||
Belgium — 0.2% | ||||||||||||
Telenet Finance Luxembourg Notes Sarl, 3.50%, 03/01/28 (Call 12/01/22)(a) | EUR | 100 | 124,935 | |||||||||
|
| |||||||||||
Canada — 2.9% | ||||||||||||
ADLER Group SA, 2.25%, 01/14/29 (Call 10/14/28)(a) | EUR | 200 | 233,069 | |||||||||
Banco BPM SpA, 3.25%, 01/14/31 (Call 01/14/26)(a)(b) | EUR | 100 | 122,768 | |||||||||
Brookfield Residential Properties Inc./Brookfield Residential U.S. Corp., 6.13%, 05/15/23 (Call 05/15/21)(a) | CAD | 50 | 40,720 | |||||||||
Ford Credit Canada Co., 3.50%, 11/30/23 | CAD | 50 | 41,478 | |||||||||
GKN Holdings Ltd., 4.63%, 05/12/32(a) | GBP | 100 | 148,200 | |||||||||
Iccrea Banca SpA, 2.25%, 10/20/25 (Call 10/20/24)(a)(b) | EUR | 200 | 244,096 | |||||||||
Mattamy Group Corp., 4.63%, 03/01/28 (Call 03/01/23)(a) | CAD | 50 | 41,289 | |||||||||
Parkland Corp., 5.63%, 05/09/25 (Call 05/09/21) | CAD | 150 | 125,432 | |||||||||
Parkland Corp./Canada, 4.38%, 03/26/29 (Call 03/26/24) | CAD | 100 | 82,040 | |||||||||
Parts Europe SA, 6.50%, 07/16/25 (Call 01/09/22)(a) | EUR | 100 | 127,031 | |||||||||
Quebecor Media Inc., 6.63%, 01/15/23(c) | CAD | 75 | 65,716 | |||||||||
Southern Pacific Resource Corp., 8.75%, 01/25/18(c)(d)(e) | CAD | 50 | 0 | (f) | ||||||||
Valeo SA, 1.50%, 06/18/25 | EUR | 200 | 247,822 | |||||||||
Videotron Ltd. | ||||||||||||
4.50%, 01/15/30 (Call 10/15/24) | CAD | 150 | 129,148 | |||||||||
5.63%, 06/15/25 (Call 03/15/25) | CAD | 50 | 45,386 | |||||||||
5.75%, 01/15/26 (Call 09/15/21)(a) | CAD | 50 | 41,858 | |||||||||
VZ Vendor Financing II BV, 2.88%, 01/15/29 (Call 12/18/23)(a) | EUR | 200 | 235,517 | |||||||||
|
| |||||||||||
1,971,570 | ||||||||||||
Cayman Islands — 0.2% | ||||||||||||
UPCB Finance VII Ltd., 3.63%, 06/15/29 (Call 06/15/22)(a) | EUR | 100 | 123,468 | |||||||||
|
| |||||||||||
Denmark — 0.4% | ||||||||||||
DKT Finance ApS, 7.00%, 06/17/23 (Call 06/17/21)(a) | EUR | 200 | 245,695 | |||||||||
|
| |||||||||||
Finland — 1.4% | ||||||||||||
Nokia OYJ | ||||||||||||
2.00%, 03/15/24 (Call 12/15/23)(a) | EUR | 100 | 125,385 | |||||||||
2.00%, 03/11/26 (Call 12/11/25) | EUR | 150 | 189,362 | |||||||||
2.38%, 05/15/25 (Call 02/15/25)(a) | EUR | 200 | 255,398 | |||||||||
Teollisuuden Voima OYJ | ||||||||||||
1.13%, 03/09/26 (Call 12/09/25)(a) | EUR | 200 | 241,496 | |||||||||
2.63%, 01/13/23(a) | EUR | 100 | 125,008 | |||||||||
|
| |||||||||||
936,649 | ||||||||||||
France — 11.6% | ||||||||||||
Accor SA | ||||||||||||
2.50%, 01/25/24(a) | EUR | 100 | 125,018 | |||||||||
3.00%, 02/04/26 (Call 11/04/25)(a) | EUR | 200 | 254,521 | |||||||||
Altice France SA, 4.00%, 07/15/29 (Call 04/15/24)(a) | EUR | 100 | 121,016 | |||||||||
Altice France SA/France | ||||||||||||
2.13%, 02/15/25 (Call 01/29/22)(a) | EUR | 150 | 175,724 | |||||||||
3.38%, 01/15/28 (Call 09/15/22)(a) | EUR | 200 | 236,839 | |||||||||
5.88%, 02/01/27 (Call 02/01/22)(a) | EUR | 150 | 192,302 | |||||||||
Banijay Entertainment SASU, 3.50%, 03/01/25 (Call 03/01/22)(a) | EUR | 100 | 121,358 | |||||||||
CAB SELAS, 3.38%, 02/01/28 (Call 02/01/24) | EUR | 200 | 239,499 | |||||||||
Casino Guichard Perrachon SA | ||||||||||||
3.58%, 02/07/25 (Call 11/07/24)(a) | EUR | 200 | 233,747 | |||||||||
4.50%, 03/07/24 (Call 12/04/23)(a) | EUR | 100 | 123,063 | |||||||||
4.56%, 01/25/23(a) | EUR | 100 | 125,723 | |||||||||
5.25%, 04/15/27 (Call 04/15/23)(a) | EUR | 100 | 121,835 | |||||||||
CGG SA, 7.75%, 04/01/27 (Call 04/01/24)(a) | EUR | 100 | 119,553 |
Security | Par (000) | Value | ||||||||||
| ||||||||||||
France (continued) | ||||||||||||
CMA CGM SA | ||||||||||||
5.25%, 01/15/25 (Call 10/15/21)(a) | EUR | 100 | $ | 122,813 | ||||||||
7.50%, 01/15/26 (Call 01/15/23) | EUR | 100 | 132,583 | |||||||||
Elis SA | ||||||||||||
1.00%, 04/03/25 (Call 01/03/25)(a) | EUR | 100 | 118,838 | |||||||||
1.63%, 04/03/28 (Call 01/03/28)(a) | EUR | 100 | 117,817 | |||||||||
1.75%, 04/11/24 (Call 01/11/24)(a) | EUR | 200 | 245,167 | |||||||||
Faurecia SE | ||||||||||||
2.38%, 06/15/27 (Call 06/15/23)(a) | EUR | 100 | 123,178 | |||||||||
2.63%, 06/15/25 (Call 06/15/21)(a) | EUR | 150 | 183,213 | |||||||||
3.13%, 06/15/26 (Call 06/15/22)(a) | EUR | 100 | 124,510 | |||||||||
3.75%, 06/15/28 (Call 06/15/23)(a) | EUR | 200 | 255,050 | |||||||||
Kapla Holding SAS, 3.38%, 12/15/26 (Call 12/15/22)(a) | EUR | 100 | 119,608 | |||||||||
La Financiere Atalian SASU, 4.00%, 05/15/24 (Call 05/15/21)(a) | EUR | 200 | 234,595 | |||||||||
Loxam SAS | ||||||||||||
3.25%, 01/14/25 (Call 07/15/21)(a) | EUR | 100 | 119,860 | |||||||||
3.50%, 05/03/23 (Call 05/10/21)(a) | EUR | 200 | 240,482 | |||||||||
5.75%, 07/15/27 (Call 07/15/22)(a) | EUR | 100 | 119,910 | |||||||||
Orano SA | ||||||||||||
2.75%, 03/08/28 (Call 12/08/27)(a) | EUR | 100 | 125,529 | |||||||||
3.13%, 03/20/23 (Call 12/20/22)(a) | EUR | 100 | 125,618 | |||||||||
3.38%, 04/23/26 (Call 01/23/26)(a) | EUR | 100 | 130,299 | |||||||||
4.88%, 09/23/24 | EUR | 200 | 272,459 | |||||||||
Quatrim SASU, 5.88%, 01/15/24 (Call 11/15/21)(a) | EUR | 100 | 125,514 | |||||||||
RCI Banque SA, 2.63%, 02/18/30 | EUR | 200 | 240,694 | |||||||||
Renault SA | ||||||||||||
1.00%, 03/08/23 (Call 12/08/22)(a) | EUR | 100 | 120,667 | |||||||||
1.00%, 04/18/24 (Call 01/18/24)(a) | EUR | 100 | 119,576 | |||||||||
1.00%, 11/28/25 (Call 08/28/25)(a) | EUR | 100 | 118,187 | |||||||||
1.13%, 10/04/27 (Call 07/04/27) | EUR | 100 | 111,886 | |||||||||
1.25%, 06/24/25 (Call 03/24/25)(a) | EUR | 100 | 118,195 | |||||||||
2.00%, 09/28/26 (Call 06/28/26)(a) | EUR | 100 | 118,995 | |||||||||
2.38%, 05/25/26 (Call 02/25/26)(a) | EUR | 200 | 243,219 | |||||||||
2.50%, 04/01/28 (Call 01/01/28)(a) | EUR | 100 | 120,527 | |||||||||
Rexel SA, 2.13%, 06/15/25 (Call 12/15/21)(a) | EUR | 150 | 182,321 | |||||||||
Rubis Terminal Infra SAS, 5.63%, 05/15/25 (Call 05/15/22)(a) | EUR | 100 | 126,565 | |||||||||
SPCM SA, 2.63%, 02/01/29 (Call 09/15/23)(a) | EUR | 100 | 123,485 | |||||||||
SPIE SA | ||||||||||||
2.63%, 06/18/26 (Call 12/18/25)(a) | EUR | 100 | 125,212 | |||||||||
3.13%, 03/22/24 (Call 09/22/23)(a) | EUR | 100 | 126,507 | |||||||||
Tereos Finance Groupe I SA, 7.50%, 10/30/25 | EUR | 100 | 128,224 | |||||||||
Valeo SA | ||||||||||||
0.63%, 01/11/23 (Call 10/11/22)(a) | EUR | 100 | 121,197 | |||||||||
3.25%, 01/22/24(a) | EUR | 200 | 259,560 | |||||||||
Vallourec SA, 6.63%, 10/15/22 (Call 10/15/21)(a) | EUR | 100 | 120,131 | |||||||||
|
| |||||||||||
7,852,389 | ||||||||||||
Germany — 10.6% | ||||||||||||
ADLER Group SA | ||||||||||||
1.50%, 07/26/24 (Call 04/26/24)(a) | EUR | 100 | 118,608 | |||||||||
1.88%, 01/14/26 (Call 10/14/25)(a) | EUR | 100 | 118,525 | |||||||||
2.25%, 04/27/27 (Call 01/27/27)(a) | EUR | 100 | 119,435 | |||||||||
3.25%, 08/05/25 (Call 05/05/25)(a) | EUR | 100 | 125,318 | |||||||||
ADLER Real Estate AG, 3.00%, 04/27/26 (Call 02/27/26)(a) | EUR | 100 | 126,271 | |||||||||
Bertelsmann SE & Co. KGaA | ||||||||||||
3.00%, 04/23/75 (Call 04/23/23)(a)(b) | EUR | 100 | 124,652 | |||||||||
3.50%, 04/23/75 (Call 04/23/27)(a)(b) | EUR | 100 | 130,066 | |||||||||
Cheplapharm Arzneimittel GmbH, 4.38%, 01/15/28 (Call 01/15/24)(a) | EUR | 150 | 187,124 |
10 | 2 0 2 1 I SHARES SEMI - ANNUAL REPORT TO SHAREHOLDERS |
Schedule of Investments (unaudited) (continued) April 30, 2021 | iShares® International High Yield Bond ETF (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||||||
Germany (continued) | ||||||||||||
Commerzbank AG | ||||||||||||
4.00%, 03/23/26(a) | EUR | 150 | $ | 201,232 | ||||||||
4.00%, 03/30/27(a) | EUR | 100 | 136,167 | |||||||||
4.00%, 12/05/30 (Call 09/05/25)(a)(b) | EUR | 100 | 131,653 | |||||||||
Deutsche Bank AG | ||||||||||||
2.75%, 02/17/25(a) | EUR | 125 | 158,362 | |||||||||
4.50%, 05/19/26(a) | EUR | 200 | 275,438 | |||||||||
5.63%, 05/19/31 (Call 02/19/26)(a)(b) | EUR | 200 | 283,415 | |||||||||
Deutsche Lufthansa AG | ||||||||||||
0.25%, 09/06/24 | EUR | 50 | 57,651 | |||||||||
2.88%, 02/11/25 (Call 01/11/25)(a) | EUR | 200 | 242,450 | |||||||||
3.00%, 05/29/26 (Call 02/28/26)(a) | EUR | 300 | 360,983 | |||||||||
4.39%, 08/12/75 (Call 02/12/26)(a)(b) | EUR | 100 | 116,962 | |||||||||
Douglas GmbH, 6.00%, 04/08/26 | EUR | 100 | 120,869 | |||||||||
K+S AG | ||||||||||||
2.63%, 04/06/23 (Call 01/06/23)(a) | EUR | 100 | 120,277 | |||||||||
3.25%, 07/18/24 (Call 04/18/24)(a) | EUR | 100 | 121,087 | |||||||||
LANXESS AG, 4.50%, 12/06/76 | EUR | 75 | 96,544 | |||||||||
METRO AG, 1.38%, 10/28/21(a) | EUR | 100 | 121,004 | |||||||||
Nidda BondCo GmbH, 5.00%, 09/30/25 (Call 09/30/21)(a) | EUR | 200 | 242,723 | |||||||||
Nidda Healthcare Holding GmbH, 3.50%, 09/30/24 (Call 09/30/21)(a) | EUR | 200 | 241,686 | |||||||||
Schaeffler AG | ||||||||||||
1.88%, 03/26/24 (Call 12/26/23)(a) | EUR | 100 | 124,690 | |||||||||
2.75%, 10/12/25 (Call 07/12/25) | EUR | 200 | 256,202 | |||||||||
3.38%, 10/12/28 (Call 07/12/28) | EUR | 100 | 131,586 | |||||||||
Techem Verwaltungsgesellschaft 674 mbH, | EUR | 100 | 124,546 | |||||||||
Techem Verwaltungsgesellschaft 675 mbH, | EUR | 150 | 178,551 | |||||||||
thyssenkrupp AG | ||||||||||||
1.88%, 03/06/23 (Call 02/06/23)(a) | EUR | 250 | 301,156 | |||||||||
2.88%, 02/22/24 (Call 11/22/23)(a) | EUR | 300 | 367,928 | |||||||||
TK Elevator Midco GmbH, 4.38%, 07/15/27 (Call 07/15/23)(a) | EUR | 100 | 126,402 | |||||||||
Vertical Holdco GmbH, 6.63%, 07/15/28 (Call 07/15/23)(a) | EUR | 200 | 258,226 | |||||||||
ZF Europe Finance BV | ||||||||||||
2.00%, 02/23/26 (Call 12/23/25)(a) | EUR | 200 | 242,626 | |||||||||
2.50%, 10/23/27 (Call 07/23/27)(a) | EUR | 100 | 123,736 | |||||||||
3.00%, 10/23/29 (Call 07/23/29)(a) | EUR | 100 | 126,236 | |||||||||
ZF Finance GmbH | ||||||||||||
2.00%, 05/06/27 | EUR | 100 | 121,343 | |||||||||
2.75%, 05/25/27 (Call 02/25/27)(a) | EUR | 100 | 125,215 | |||||||||
3.00%, 09/21/25 (Call 06/21/25)(a) | EUR | 100 | 127,281 | |||||||||
3.75%, 09/21/28 (Call 06/21/28)(a) | EUR | 100 | 131,383 | |||||||||
ZF North America Capital Inc., | EUR | 200 | 250,637 | |||||||||
|
| |||||||||||
7,196,246 | ||||||||||||
Greece — 0.9% | ||||||||||||
Alpha Services and Holdings SA, 4.25%, 02/13/30 (Call 02/13/25)(a)(b) | EUR | 100 | 116,259 | |||||||||
Mytilineos SA, 2.25%, 10/30/26 (Call 04/30/26)(a) | EUR | 100 | 121,567 | |||||||||
National Bank of Greece SA, 2.75%, 10/08/26 (Call 10/08/25)(a)(b) | EUR | 200 | 249,650 | |||||||||
Piraeus Financial Holdings SA, 9.75%, 06/26/29 (Call 06/26/24)(a)(b) | EUR | 100 | 131,894 | |||||||||
|
| |||||||||||
619,370 | ||||||||||||
Ireland — 0.9% | ||||||||||||
AIB Group PLC | ||||||||||||
1.88%, 11/19/29 (Call 11/19/24)(a)(b) | EUR | 100 | 123,377 | |||||||||
2.88%, 05/30/31 (Call 05/30/26)(a)(b) | EUR | 100 | 129,163 |
Security | Par (000) | Value | ||||||||||
Ireland (continued) | ||||||||||||
Bank of Ireland Group PLC, 2.38%, 10/14/29 (Call 10/14/24)(a)(b) | EUR | 100 | $ | 125,450 | ||||||||
eircom Finance DAC | ||||||||||||
1.75%, 11/01/24 (Call 11/01/21)(a) | EUR | 100 | 119,517 | |||||||||
3.50%, 05/15/26 (Call 05/15/22)(a) | EUR | 100 | 122,788 | |||||||||
|
| |||||||||||
620,295 | ||||||||||||
Israel — 1.7% | ||||||||||||
Teva Pharmaceutical Finance Netherlands II BV | ||||||||||||
1.13%, 10/15/24(a) | EUR | 200 | 226,882 | |||||||||
1.25%, 03/31/23 (Call 12/31/22)(a) | EUR | 200 | 234,899 | |||||||||
1.63%, 10/15/28(a) | EUR | 150 | 160,896 | |||||||||
3.25%, 04/15/22 (Call 01/15/22) | EUR | 100 | 121,670 | |||||||||
4.50%, 03/01/25 (Call 12/01/24) | EUR | 200 | 251,203 | |||||||||
6.00%, 01/31/25 (Call 01/31/24) | EUR | 100 | 131,050 | |||||||||
|
| |||||||||||
1,126,600 | ||||||||||||
Italy — 17.1% | ||||||||||||
Atlantia SpA | ||||||||||||
1.63%, 02/03/25(a) | EUR | 100 | 122,730 | |||||||||
1.88%, 07/13/27 (Call 04/13/27)(a) | EUR | 275 | 340,012 | |||||||||
1.88%, 02/12/28 (Call 11/12/27)(a) | EUR | 100 | 123,083 | |||||||||
Autostrade per l’Italia SpA | ||||||||||||
1.75%, 06/26/26(a) | EUR | 100 | 122,896 | |||||||||
1.88%, 09/26/29 (Call 06/26/29)(a) | EUR | 200 | 243,756 | |||||||||
2.00%, 01/15/30 (Call 10/15/29)(a) | EUR | 400 | 489,800 | |||||||||
4.38%, 09/16/25(a) | EUR | 100 | 137,122 | |||||||||
Banca IFIS SpA, 2.00%, 04/24/23(a) | EUR | 100 | 121,481 | |||||||||
Banca Monte dei Paschi di Siena SpA | ||||||||||||
2.63%, 04/28/25(a) | EUR | 100 | 123,816 | |||||||||
3.63%, 09/24/24(a) | EUR | 300 | 382,344 | |||||||||
4.00%, 07/10/22(a) | EUR | 100 | 124,425 | |||||||||
5.38%, 01/18/28 (Call 01/18/23)(a)(b) | EUR | 100 | 108,041 | |||||||||
10.50%, 07/23/29(a) | EUR | 100 | 147,896 | |||||||||
Banca Popolare di Sondrio SCPA, 2.38%, 04/03/24(a) | EUR | 100 | 125,878 | |||||||||
Banco BPM SpA | ||||||||||||
1.75%, 04/24/23(a) | EUR | 109 | 134,869 | |||||||||
1.75%, 01/28/25(a) | EUR | 200 | 249,046 | |||||||||
4.25%, 10/01/29 (Call 10/01/24)(a)(b) | EUR | 200 | 253,748 | |||||||||
4.38%, 09/21/27 (Call 09/21/22)(a)(b) | EUR | 100 | 125,147 | |||||||||
BPER Banca, 5.13%, 05/31/27 (Call 05/31/22)(a)(b) | EUR | 100 | 125,881 | |||||||||
Brunello Bidco SpA, 3.50%, 02/15/28 (Call 02/15/24)(a) | EUR | 100 | 120,522 | |||||||||
Esselunga SpA, 0.88%, 10/25/23 (Call 07/25/23)(a) | EUR | 100 | 122,209 | |||||||||
Gamma Bidco SpA, 5.13%, 07/15/25 (Call 07/15/22)(a) | EUR | 200 | 243,629 | |||||||||
Iccrea Banca SpA, 4.13%, 11/28/29 (Call 11/28/24)(a)(b) | EUR | 100 | 119,959 | |||||||||
Infrastrutture Wireless Italiane SpA | ||||||||||||
1.63%, 10/21/28 (Call 07/21/28)(a) | EUR | 100 | 122,611 | |||||||||
1.88%, 07/08/26 (Call 04/08/26)(a) | EUR | 150 | 189,291 | |||||||||
Intesa Sanpaolo SpA | ||||||||||||
0.63%, 02/24/26 | EUR | 500 | 595,937 | |||||||||
2.93%, 10/14/30(a) | EUR | 200 | 255,251 | |||||||||
3.93%, 09/15/26(a) | EUR | 175 | 237,708 | |||||||||
4.45%, 09/15/27 (Call 09/15/22)(a)(b) | EUR | 150 | 189,435 | |||||||||
6.63%, 09/13/23(a) | EUR | 100 | 136,785 | |||||||||
Leonardo SpA, 2.38%, 01/08/26 (Call 10/08/25)(a) | EUR | 100 | 125,782 | |||||||||
Mediobanca Banca di Credito Finanziario SpA | ||||||||||||
3.75%, 06/16/26 | EUR | 75 | 99,412 | |||||||||
5.75%, 04/18/23 | EUR | 50 | 66,253 | |||||||||
Nexi SpA | ||||||||||||
1.63%, 04/30/26 (Call 01/30/26)(a) | EUR | 200 | 240,061 | |||||||||
1.75%, 10/31/24 (Call 07/31/24)(a) | EUR | 100 | 122,358 | |||||||||
2.13%, 04/30/29 (Call 01/30/29)(a) | EUR | 150 | 178,576 |
SCHEDULE OF INVESTMENTS | 11 |
Schedule of Investments (unaudited) (continued) April 30, 2021 | iShares® International High Yield Bond ETF (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||||||
Italy (continued) | ||||||||||||
Rossini Sarl, 6.75%, 10/30/25 | EUR | 100 | $ | 127,182 | ||||||||
Saipem Finance International BV | ||||||||||||
2.63%, 01/07/25(a) | EUR | 100 | 124,004 | |||||||||
3.75%, 09/08/23(a) | EUR | 200 | 254,247 | |||||||||
Sofima Holding SpA, 3.75%, 01/15/28 (Call 01/15/23)(a) | EUR | 100 | 120,830 | |||||||||
Telecom Italia SpA/Milano | ||||||||||||
1.63%, 01/18/29 (Call 10/18/28)(a) | EUR | 100 | 118,179 | |||||||||
2.38%, 10/12/27 (Call 07/12/27)(a) | EUR | 300 | 376,967 | |||||||||
2.50%, 07/19/23(a) | EUR | 100 | 125,804 | |||||||||
2.88%, 01/28/26 (Call 10/28/25)(a) | EUR | 418 | 535,392 | |||||||||
3.25%, 01/16/23(a) | EUR | 150 | 189,562 | |||||||||
3.63%, 01/19/24(a) | EUR | 207 | 268,033 | |||||||||
3.63%, 05/25/26(a) | EUR | 100 | 133,485 | |||||||||
4.00%, 04/11/24 (Call 01/11/24)(a) | EUR | 125 | 162,537 | |||||||||
5.25%, 02/10/22(a) | EUR | 100 | 125,183 | |||||||||
UniCredit SpA | ||||||||||||
2.00%, 09/23/29 (Call 09/23/24)(a)(b) | EUR | 200 | 241,644 | |||||||||
2.73%, 01/15/32 (Call 01/15/27)(a)(b) | EUR | 200 | 245,926 | |||||||||
4.38%, 01/03/27 (Call 01/03/22)(a)(b) | EUR | 100 | 123,502 | |||||||||
6.95%, 10/31/22(a) | EUR | 300 | 396,702 | |||||||||
Unione di Banche Italiane SpA | ||||||||||||
4.38%, 07/12/29 (Call 07/12/24)(a)(b) | EUR | 150 | 196,755 | |||||||||
5.88%, 03/04/29 (Call 03/04/24)(a)(b) | EUR | 150 | 203,402 | |||||||||
Unipol Gruppo SpA | ||||||||||||
3.00%, 03/18/25(a) | EUR | 175 | 224,952 | |||||||||
3.25%, 09/23/30 (Call 06/23/30)(a) | EUR | 200 | 254,612 | |||||||||
Webuild SpA, 1.75%, 10/26/24(a) | EUR | 250 | 296,842 | |||||||||
|
| |||||||||||
11,613,492 | ||||||||||||
Japan — 1.3% | ||||||||||||
SoftBank Group Corp. | ||||||||||||
3.13%, 09/19/25 (Call 06/21/25)(a) | EUR | 250 | 313,123 | |||||||||
4.00%, 04/20/23 (Call 01/20/23)(a) | EUR | 100 | 126,222 | |||||||||
4.00%, 09/19/29 (Call 06/21/29)(a) | EUR | 100 | 129,365 | |||||||||
5.00%, 04/15/28 (Call 01/16/28)(a) | EUR | 250 | 341,266 | |||||||||
|
| |||||||||||
909,976 | ||||||||||||
Luxembourg — 4.6% | ||||||||||||
Altice Financing SA, 3.00%, 01/15/28 (Call 01/15/23)(a) | EUR | 300 | 347,949 | |||||||||
Altice Finco SA, 4.75%, 01/15/28 (Call 10/15/22)(a) | EUR | 100 | 117,901 | |||||||||
Altice France Holding SA | ||||||||||||
4.00%, 02/15/28 (Call 02/15/23)(a) | EUR | 100 | 115,131 | |||||||||
8.00%, 05/15/27 (Call 05/15/22)(a) | EUR | 200 | 261,933 | |||||||||
ArcelorMittal SA | ||||||||||||
0.95%, 01/17/23 (Call 10/17/22)(a) | EUR | 100 | 121,697 | |||||||||
1.00%, 05/19/23 (Call 02/19/23)(a) | EUR | 100 | 122,185 | |||||||||
1.75%, 11/19/25 (Call 08/19/25)(a) | EUR | 100 | 125,900 | |||||||||
2.25%, 01/17/24 (Call 10/17/23)(a) | EUR | 200 | 252,083 | |||||||||
Cidron Aida Finco Sarl, 6.25%, 04/01/28 (Call 04/07/24)(a) | GBP | 100 | 141,404 | |||||||||
Garfunkelux Holdco 3 SA | ||||||||||||
6.75%, 11/01/25 (Call 11/01/22)(a) | EUR | 100 | 124,978 | |||||||||
7.75%, 11/01/25 (Call 11/01/22)(a) | GBP | 100 | 143,529 | |||||||||
INEOS Finance PLC | ||||||||||||
2.13%, 11/15/25 (Call 11/15/21)(a) | EUR | 100 | 119,659 | |||||||||
2.88%, 05/01/26 (Call 05/01/22)(a) | EUR | 200 | 243,739 | |||||||||
Matterhorn Telecom SA, 3.13%, 09/15/26 (Call 09/15/22)(a) | EUR | 200 | 239,974 | |||||||||
Mytilineos Financial Partners SA, 2.50%, 12/01/24 (Call 06/01/24)(a) | EUR | 100 | 123,955 | |||||||||
SIG Combibloc Purchase Co. Sarl, 2.13%, 06/18/25 (Call 03/18/25)(a) | EUR | 100 | 126,847 | |||||||||
Summer BC Holdco A Sarl, 9.25%, 10/31/27 (Call 10/31/22)(a) | EUR | 90 | 114,653 | |||||||||
Summer BC Holdco B Sarl, 5.75%, 10/31/26 (Call 10/31/22)(a) | EUR | 150 | 187,126 |
Security | Par (000) | Value | ||||||||||
Luxembourg (continued) | ||||||||||||
Vivion Investments Sarl, 3.00%, 08/08/24(a) | EUR | 100 | $ | 117,179 | ||||||||
|
| |||||||||||
3,147,822 | ||||||||||||
Netherlands — 3.6% | ||||||||||||
IPD 3 BV, 5.50%, 12/01/25 (Call 12/01/22)(a) | EUR | 100 | 124,911 | |||||||||
Lincoln Financing Sarl, 3.63%, 04/01/24 (Call 10/01/21)(a) | EUR | 200 | 243,639 | |||||||||
Louis Dreyfus Co. BV, 2.38%, 11/27/25 (Call 08/27/25)(a) | EUR | 100 | 126,348 | |||||||||
Nouryon Holding BV, 6.50%, 10/01/26 (Call 10/01/21)(a) | EUR | 100 | 126,176 | |||||||||
OCI NV, 3.13%, 11/01/24 (Call 11/01/21)(a) | EUR | 200 | 246,213 | |||||||||
PPF Telecom Group BV | ||||||||||||
2.13%, 01/31/25 (Call 10/31/24)(a) | EUR | 200 | 246,732 | |||||||||
3.25%, 09/29/27 (Call 06/29/27)(a) | EUR | 100 | 129,333 | |||||||||
3.50%, 05/20/24 (Call 02/20/24)(a) | EUR | 100 | 128,297 | |||||||||
Q-Park Holding I BV, 2.00%, 03/01/27 (Call 03/01/23)(a) | EUR | 100 | 112,787 | |||||||||
Sigma Holdco BV, 5.75%, 05/15/26 (Call 05/15/21)(a) | EUR | 100 | 116,624 | |||||||||
SNS Bank NV, 6.25%, 10/26/20(e) | EUR | 50 | 0 | (f) | ||||||||
Trivium Packaging Finance BV, 3.75%, 08/15/26 (Call 08/15/22)(a) | EUR | 100 | 123,338 | |||||||||
United Group BV | ||||||||||||
3.13%, 02/15/26 (Call 02/15/22)(a) | EUR | 100 | 116,242 | |||||||||
3.63%, 02/15/28 (Call 02/15/23)(a) | EUR | 100 | 116,662 | |||||||||
4.88%, 07/01/24 (Call 07/01/21)(a) | EUR | 100 | 122,117 | |||||||||
UPC Holding BV, 3.88%, 06/15/29 (Call 06/15/22)(a) | EUR | 100 | 122,103 | |||||||||
Ziggo Bond Co. BV, 3.38%, 02/28/30 (Call 02/15/25)(a) | EUR | 150 | 178,516 | |||||||||
Ziggo BV, 4.25%, 01/15/27 (Call 01/15/22)(a) | EUR | 80 | 100,067 | |||||||||
|
| |||||||||||
2,480,105 | ||||||||||||
Norway — 0.4% | ||||||||||||
Adevinta ASA, 2.63%, 11/15/25 | EUR | 200 | 247,316 | |||||||||
|
| |||||||||||
Portugal — 1.6% | ||||||||||||
Banco Comercial Portugues SA | ||||||||||||
1.13%, 02/12/27 (Call 02/12/26)(a)(b) | EUR | 100 | 118,060 | |||||||||
4.50%, 12/07/27 (Call 12/07/22)(a)(b) | EUR | 100 | 121,970 | |||||||||
Caixa Geral de Depositos SA, 5.75%, 06/28/28 (Call 06/28/23)(a)(b) | EUR | 200 | 263,450 | |||||||||
EDP - Energias de Portugal SA | ||||||||||||
1.70%, 07/20/80 (Call 04/20/25)(a)(b) | EUR | 100 | 120,400 | |||||||||
1.88%, 08/02/81 (Call 05/02/26)(a)(b) | EUR | 100 | 120,389 | |||||||||
4.50%, 04/30/79 (Call 01/30/24)(a)(b) | EUR | 200 | 262,375 | |||||||||
Novo Banco SA, 8.50%, 07/06/28 (Call 07/06/23)(a)(b) | EUR | 100 | 118,051 | |||||||||
|
| |||||||||||
1,124,695 | ||||||||||||
Spain — 5.7% | ||||||||||||
Abanca Corp. Bancaria SA, 4.63%, 04/07/30 (Call 04/07/25)(a)(b) | EUR | 100 | 128,847 | |||||||||
Banco de Sabadell SA | ||||||||||||
1.13%, 03/27/25(a) | EUR | 200 | 244,774 | |||||||||
1.75%, 05/10/24(a) | EUR | 100 | 124,618 | |||||||||
2.50%, 04/15/31 (Call 01/15/26)(a)(b) | EUR | 100 | 120,346 | |||||||||
5.38%, 12/12/28 (Call 12/12/23)(a)(b) | EUR | 100 | 131,531 | |||||||||
5.63%, 05/06/26 | EUR | 100 | 140,363 | |||||||||
Cellnex Finance Co. SA | ||||||||||||
0.75%, 11/15/26 (Call 08/15/26)(a) | EUR | 100 | 119,432 | |||||||||
1.25%, 01/15/29 (Call 10/15/28)(a) | EUR | 200 | 235,039 | |||||||||
2.00%, 02/15/33 (Call 11/15/32)(a) | EUR | 300 | 353,642 | |||||||||
Cellnex Telecom SA | ||||||||||||
1.00%, 04/20/27 (Call 01/20/27)(a) | EUR | 100 | 119,591 | |||||||||
1.88%, 06/26/29 (Call 03/26/29) | EUR | 100 | 122,233 | |||||||||
2.38%, 01/16/24 (Call 10/16/23)(a) | EUR | 100 | 126,573 | |||||||||
2.88%, 04/18/25 (Call 01/18/25)(a) | EUR | 100 | 130,422 | |||||||||
3.13%, 07/27/22(a) | EUR | 100 | 125,002 |
12 | 2 0 2 1 I SHARES SEMI - ANNUAL REPORT TO SHAREHOLDERS |
Schedule of Investments (unaudited) (continued) April 30, 2021 | iShares® International High Yield Bond ETF (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||||||
Spain (continued) | ||||||||||||
Cirsa Finance International Sarl, 6.25%, 12/20/23 (Call 06/20/21)(a) | EUR | 100 | $ | 121,949 | ||||||||
ContourGlobal Power Holdings SA | ||||||||||||
2.75%, 01/01/26 (Call 01/01/23)(a) | EUR | 100 | 120,739 | |||||||||
4.13%, 08/01/25 (Call 08/01/21)(a) | EUR | 100 | 122,867 | |||||||||
El Corte Ingles SA | ||||||||||||
3.00%, 03/15/24 (Call 10/15/21)(a) | EUR | 100 | 122,010 | |||||||||
3.63%, 03/15/24 (Call 03/15/22)(a) | EUR | 100 | 125,311 | |||||||||
Gestamp Funding Luxembourg SA, 3.50%, 05/15/23 (Call 05/15/21)(a) | EUR | 100 | 120,361 | |||||||||
Grifols SA | ||||||||||||
1.63%, 02/15/25 (Call 02/15/22)(a) | EUR | 150 | 181,348 | |||||||||
2.25%, 11/15/27 (Call 11/15/22)(a) | EUR | 100 | 122,316 | |||||||||
3.20%, 05/01/25 (Call 05/01/21)(a) | EUR | 200 | 242,426 | |||||||||
Ibercaja Banco SA, 2.75%, 07/23/30 (Call 07/23/25)(a)(b) | EUR | 100 | 120,013 | |||||||||
Repsol International Finance BV, 4.50%, 03/25/75 (Call 03/25/25)(a)(b) | EUR | 175 | 230,337 | |||||||||
|
| |||||||||||
3,852,090 | ||||||||||||
Sweden — 2.6% | ||||||||||||
Akelius Residential Property AB, 2.25%, 05/17/81 (Call 02/17/26)(a)(b) | EUR | 100 | 120,405 | |||||||||
Fastighets AB Balder, 3.00%, 03/07/78 (Call 03/07/23)(a)(b) | EUR | 100 | 122,841 | |||||||||
Intrum AB | ||||||||||||
3.00%, 09/15/27 (Call 09/15/22)(a) | EUR | 100 | 117,898 | |||||||||
3.13%, 07/15/24 (Call 07/15/21)(a) | EUR | 100 | 121,020 | |||||||||
3.50%, 07/15/26 (Call 07/15/22)(a) | EUR | 175 | 212,325 | |||||||||
4.88%, 08/15/25 (Call 08/15/22)(a) | EUR | 100 | 126,450 | |||||||||
Verisure Holding AB 3.25%, 02/15/27 (Call 02/15/23)(a) | EUR | 150 | 181,199 | |||||||||
3.50%, 05/15/23 (Call 05/08/21)(a) | EUR | 100 | 121,406 | |||||||||
Verisure Midholding AB, 5.25%, 02/15/29 (Call 02/15/24)(a) | EUR | 300 | 372,285 | |||||||||
Volvo Car AB, 2.00%, 01/24/25 (Call 10/24/24)(a) | EUR | 200 | 250,342 | |||||||||
|
| |||||||||||
1,746,171 | ||||||||||||
Switzerland — 0.5% | ||||||||||||
Dufry One BV | ||||||||||||
2.00%, 02/15/27 (Call 02/15/22)(a) | EUR | 100 | 111,893 | |||||||||
2.50%, 10/15/24 (Call 10/15/21)(a) | EUR | 100 | 118,823 | |||||||||
3.38%, 04/15/28 (Call 04/15/24)(a) | EUR | 100 | 118,330 | |||||||||
|
| |||||||||||
349,046 | ||||||||||||
United Kingdom — 12.4% | ||||||||||||
Arqiva Broadcast Finance PLC, 6.75%, 09/30/23 | ||||||||||||
(Call 09/30/21)(a) | GBP | 150 | 214,228 | |||||||||
Bellis Acquisition Co. PLC, 3.25%, 02/16/26 (Call 02/24/23)(a) | GBP | 300 | 416,528 | |||||||||
Bellis Finco PLC, 4.00%, 02/16/27 (Call 02/24/23)(a) | GBP | 200 | 277,267 | |||||||||
British Telecommunications PLC, 1.87%, 08/18/80 (Call 05/18/25)(a)(b) | EUR | 100 | 119,192 | |||||||||
Cabot Financial Luxembourg SA, 7.50%, 10/01/23 (Call 10/01/21)(a) | GBP | 44 | 62,293 | |||||||||
Cidron Aida Finco Sarl, 5.00%, 04/01/28 (Call 04/01/24)(a) | EUR | 100 | 122,637 | |||||||||
eG Global Finance PLC, 4.38%, 02/07/25 (Call 05/15/21)(a) | EUR | 225 | 262,316 | |||||||||
FCE Bank PLC | ||||||||||||
1.13%, 02/10/22(a) | EUR | 100 | 120,836 | |||||||||
1.62%, 05/11/23(a) | EUR | 200 | 244,286 | |||||||||
Heathrow Finance PLC | ||||||||||||
4.38%, 03/01/27(a) | GBP | 100 | 142,506 | |||||||||
5.25%, 03/01/24 (Call 12/01/23)(a) | GBP | 100 | 145,868 | |||||||||
Iceland Bondco PLC, 4.38%, 05/15/28 (Call 02/15/24)(a) | GBP | 100 | 132,945 | |||||||||
INEOS Quattro Finance 2 PLC, 2.50%, 01/15/26 (Call 01/15/23)(a) | EUR | 100 | 120,691 |
Security | Par (000) | Value | ||||||||||
United Kingdom (continued) | ||||||||||||
INEOS Styrolution Group GmbH, 2.25%, 01/16/27 (Call 01/15/23)(a) | EUR | 200 | $ | 235,075 | ||||||||
International Consolidated Airlines Group SA | ||||||||||||
1.50%, 07/04/27 (Call 04/04/27)(a) | EUR | 100 | 108,971 | |||||||||
2.75%, 03/25/25 (Call 12/25/24)(a) | EUR | 100 | 119,851 | |||||||||
3.75%, 03/25/29 (Call 12/25/28)(a) | EUR | 100 | 119,762 | |||||||||
Jaguar Land Rover Automotive PLC | ||||||||||||
2.20%, 01/15/24(a) | EUR | 100 | 118,167 | |||||||||
3.88%, 03/01/26 | GBP | 100 | 139,581 | |||||||||
4.50%, 01/15/26 (Call 10/15/25)(a) | EUR | 150 | 186,428 | |||||||||
5.88%, 11/15/24 (Call 08/15/24)(a) | EUR | 100 | 130,530 | |||||||||
Jerrold Finco PLC, 5.25%, 01/15/27 (Call 01/15/23)(a) | GBP | 100 | 141,846 | |||||||||
Marks & Spencer PLC | ||||||||||||
3.75%, 05/19/26 (Call 02/19/26)(a) | GBP | 100 | 143,357 | |||||||||
6.00%, 06/12/25(a) | GBP | 100 | 155,737 | |||||||||
Modulaire Global Finance PLC, 6.50%, 02/15/23 (Call 02/15/22)(a) | EUR | 100 | 122,331 | |||||||||
NGG Finance PLC | ||||||||||||
1.63%, 12/05/79 (Call 12/05/24)(a)(b) | EUR | 100 | 121,649 | |||||||||
2.13%, 09/05/82 (Call 06/05/27)(b) | EUR | 100 | 122,724 | |||||||||
5.63%, 06/18/73 (Call 06/18/25)(a)(b) | GBP | 200 | 310,698 | |||||||||
Pinewood Finance Co. Ltd., 3.25%, 09/30/25 (Call 09/30/21)(a) | GBP | 100 | 140,836 | |||||||||
Pinnacle Bidco PLC, 5.50%, 02/15/25 (Call 01/15/22)(a) | EUR | 100 | 121,863 | |||||||||
Rolls-Royce PLC | ||||||||||||
0.88%, 05/09/24 (Call 02/09/24)(a) | EUR | 200 | 232,728 | |||||||||
1.63%, 05/09/28 (Call 02/09/28)(a) | EUR | 100 | 110,235 | |||||||||
4.63%, 02/16/26 (Call 11/16/25)(a) | EUR | 100 | 129,813 | |||||||||
5.75%, 10/15/27 (Call 07/15/27)(a) | GBP | 100 | 150,211 | |||||||||
Stonegate Pub Co. Financing 2019 PLC, 8.25%, 07/31/25 (Call 07/31/22)(a) | GBP | 100 | 146,014 | |||||||||
Thames Water Utilities Finance PLC | ||||||||||||
2.88%, 05/03/27(a) | GBP | 200 | 286,592 | |||||||||
5.75%, 09/13/30 (Call 09/13/22)(b) | GBP | 100 | 145,983 | |||||||||
Victoria PLC, 3.63%, 08/24/26 (Call 02/28/23)(a) | EUR | 200 | 244,006 | |||||||||
Virgin Media Finance PLC, 3.75%, 07/15/30 (Call 07/15/25)(a) | EUR | 100 | 120,673 | |||||||||
Virgin Media Secured Finance PLC | ||||||||||||
4.13%, 08/15/30 (Call 08/15/25)(a) | GBP | 100 | 138,639 | |||||||||
4.25%, 01/15/30 (Call 10/10/24)(a) | GBP | 100 | 139,064 | |||||||||
5.00%, 04/15/27 (Call 04/15/22)(a) | GBP | 200 | 289,102 | |||||||||
5.25%, 05/15/29 (Call 05/15/24)(a) | GBP | 100 | 147,277 | |||||||||
Vmed O2 UK Financing I PLC | ||||||||||||
3.25%, 01/31/31 (Call 01/31/26)(a) | EUR | 100 | 121,531 | |||||||||
4.00%, 01/31/29 (Call 01/31/24)(a) | GBP | 100 | 138,440 | |||||||||
Vodafone Group PLC | ||||||||||||
3.10%, 01/03/79 (Call 01/03/24)(a)(b) | EUR | 300 | 375,560 | |||||||||
4.88%, 10/03/78 (Call 10/03/25)(a)(b) | GBP | 100 | 150,317 | |||||||||
Series NC10, 3.00%, 08/27/80 | EUR | 150 | 186,589 | |||||||||
Series NC6, 2.63%, 08/27/80 | EUR | 200 | 248,275 | |||||||||
|
| |||||||||||
8,422,048 | ||||||||||||
United States — 17.3% | ||||||||||||
Adient Global Holdings Ltd., 3.50%, 08/15/24 | EUR | 175 | 217,046 | |||||||||
Alpha Bank AE, 5.50%, 06/11/31 | EUR | 100 | 120,701 | |||||||||
Ardagh Metal Packaging Finance USA LLC/Ardagh Metal Packaging Finance PLC, 3.00%, 09/01/29 (Call 05/15/24)(a) | EUR | 100 | 120,439 | |||||||||
Ardagh Packaging Finance PLC/Ardagh Holdings USA Inc. | ||||||||||||
2.13%, 08/15/26 (Call 08/15/22)(a) | EUR | 200 | 240,613 | |||||||||
4.75%, 07/15/27 (Call 07/15/22)(a) | GBP | 100 | 141,626 | |||||||||
Ashland Services BV, 2.00%, 01/30/28 (Call 11/01/27)(a) | EUR | 100 | 119,972 |
SCHEDULE OF INVESTMENTS | 13 |
Schedule of Investments (unaudited) (continued) April 30, 2021 | iShares® International High Yield Bond ETF (Percentages shown are based on Net Assets) |
Security |
Par (000) | Value | ||||||||||
United States (continued) | ||||||||||||
Avantor Funding Inc., 2.63%, 11/01/25 | EUR | 200 | $ | 246,547 | ||||||||
Avis Budget Finance PLC | ||||||||||||
4.13%, 11/15/24 (Call 11/15/21)(a) | EUR | 100 | 121,893 | |||||||||
4.75%, 01/30/26 (Call 09/30/21)(a) | EUR | 100 | 122,137 | |||||||||
Axalta Coating Systems Dutch Holding B BV, 3.75%, 01/15/25 (Call 01/15/22)(a) | EUR | 100 | 122,502 | |||||||||
Ball Corp. | ||||||||||||
0.88%, 03/15/24 (Call 12/15/23) | EUR | 100 | 121,395 | |||||||||
1.50%, 03/15/27 (Call 12/15/26) | EUR | 100 | 122,694 | |||||||||
4.38%, 12/15/23 | EUR | 100 | 132,960 | |||||||||
Belden Inc., 3.88%, 03/15/28 (Call 03/06/23)(a) | EUR | 250 | 312,913 | |||||||||
Berry Global Inc. | ||||||||||||
1.00%, 01/15/25 (Call 10/15/24)(a) | EUR | 100 | 121,592 | |||||||||
1.50%, 01/15/27 (Call 10/15/26)(a) | EUR | 100 | 121,982 | |||||||||
Boxer Parent Co. Inc., 6.50%, 10/02/25 (Call 06/01/22)(a) | EUR | 100 | 128,201 | |||||||||
BPER Banca, 1.38%, 03/31/27 (Call 03/31/26)(a)(b) | EUR | 100 | 120,977 | |||||||||
Carnival PLC, 1.00%, 10/28/29 (Call 07/28/29) | EUR | 100 | 98,840 | |||||||||
Catalent Pharma Solutions Inc., 2.38%, 03/01/28 (Call 03/01/23)(a) | EUR | 150 | 179,976 | |||||||||
Chemours Co. (The), 4.00%, 05/15/26 (Call 05/15/21) | EUR | 100 | 121,915 | |||||||||
Clarios Global LP/Clarios US Finance Co., 4.38%, 05/15/26 (Call 05/15/22)(a) | EUR | 125 | 155,317 | |||||||||
Coty Inc., 4.75%, 04/15/26 (Call 04/15/22)(a) | EUR | 100 | 116,819 | |||||||||
Crown European Holdings SA | ||||||||||||
0.75%, 02/15/23 (Call 01/16/23)(a) | EUR | 100 | 120,850 | |||||||||
2.25%, 02/01/23 (Call 11/01/22)(a) | EUR | 100 | 123,613 | |||||||||
2.63%, 09/30/24 (Call 03/30/24)(a) | EUR | 125 | 158,511 | |||||||||
2.88%, 02/01/26 (Call 08/01/25)(a) | EUR | 100 | 128,830 | |||||||||
3.38%, 05/15/25 (Call 11/15/24)(a) | EUR | 100 | 130,085 | |||||||||
Darling Global Finance BV, 3.63%, 05/15/26 (Call 05/15/21)(a) | EUR | 100 | 122,437 | |||||||||
Encore Capital Group Inc., 5.38%, 02/15/26 (Call 11/15/22)(a) | GBP | 100 | 144,462 | |||||||||
Energizer Gamma Acquisition BV, 4.63%, 07/15/26 (Call 07/15/21)(a) | EUR | 100 | 123,391 | |||||||||
Ford Credit Canada Co. | ||||||||||||
3.74%, 05/08/23 | CAD | 75 | 62,352 | |||||||||
4.46%, 11/13/24 | CAD | 50 | 42,546 | |||||||||
Ford Motor Credit Co. LLC | ||||||||||||
1.36%, 02/07/25 | EUR | 100 | 119,698 | |||||||||
1.51%, 02/17/23 | EUR | 100 | 121,494 | |||||||||
1.74%, 07/19/24 | EUR | 100 | 121,534 | |||||||||
2.39%, 02/17/26 | EUR | 225 | 279,224 | |||||||||
2.75%, 06/14/24 | GBP | 200 | 279,301 | |||||||||
3.02%, 03/06/24 | EUR | 100 | 125,858 | |||||||||
3.25%, 09/15/25 | EUR | 100 | 128,565 | |||||||||
Hanesbrands Finance Luxembourg SCA, 3.50%, 06/15/24 (Call 03/15/24)(a) | EUR | 100 | 127,783 | |||||||||
International Game Technology PLC | ||||||||||||
3.50%, 07/15/24 (Call 01/15/24)(a) | EUR | 225 | 280,164 | |||||||||
3.50%, 06/15/26 (Call 06/15/22) | EUR | 250 | 308,320 | |||||||||
IQVIA Inc. | ||||||||||||
1.75%, 03/15/26 (Call 03/15/23)(a) | EUR | 100 | 121,454 | |||||||||
2.25%, 01/15/28 (Call 07/15/22)(a) | EUR | 150 | 182,339 | |||||||||
2.25%, 03/15/29 (Call 03/15/24)(a) | EUR | 200 | 241,606 | |||||||||
2.88%, 09/15/25 (Call 09/15/21)(a) | EUR | 100 | 122,133 | |||||||||
Iron Mountain UK PLC, 3.88%, 11/15/25 (Call 11/15/21)(a) | GBP | 100 | 140,381 | |||||||||
Kraft Heinz Foods Co. | ||||||||||||
2.00%, 06/30/23 (Call 03/30/23)(a) | EUR | 200 | 249,411 | |||||||||
2.25%, 05/25/28 (Call 02/25/28)(a) | EUR | 100 | 130,268 | |||||||||
4.13%, 07/01/27 (Call 04/01/27)(a) | GBP | 100 | 154,011 | |||||||||
Levi Strauss & Co., 3.38%, 03/15/27 (Call 03/15/22) | EUR | 100 | 124,409 |
Security | Par/ Shares (000) | Value | ||||||||||
United States (continued) | ||||||||||||
Liberty Mutual Group Inc., 3.63%, 05/23/59 (Call 05/23/24)(a)(b) | EUR | 100 | $ | 123,262 | ||||||||
Mauser Packaging Solutions Holding Co., 4.75%, 04/15/24 (Call 04/15/22)(a) | EUR | 100 | 120,606 | |||||||||
MPT Operating Partnership LP/MPT Finance Corp. | ||||||||||||
3.33%, 03/24/25 (Call 12/24/24) | EUR | 200 | 260,656 | |||||||||
3.38%, 04/24/30 (Call 01/24/30) | GBP | 100 | 140,656 | |||||||||
3.69%, 06/05/28 (Call 04/05/28) | GBP | 100 | 145,759 | |||||||||
4.00%, 08/19/22 (Call 05/19/22) | EUR | 100 | 125,253 | |||||||||
Netflix Inc. | ||||||||||||
3.63%, 05/15/27 | EUR | 150 | 208,443 | |||||||||
3.63%, 06/15/30 (Call 03/15/30)(a) | EUR | 250 | 359,825 | |||||||||
3.88%, 11/15/29(a) | EUR | 200 | 291,563 | |||||||||
4.63%, 05/15/29 | EUR | 200 | 303,310 | |||||||||
Novelis Sheet Ingot GmbH, 3.38%, 04/15/29 (Call 04/15/24)(a) | EUR | 100 | 123,793 | |||||||||
OI European Group BV, 3.13%, 11/15/24 (Call 08/15/24)(a) | EUR | 200 | 249,706 | |||||||||
Organon Finance 1 LLC, 2.88%, 04/30/28 (Call 04/30/24)(a) | EUR | 200 | 245,663 | |||||||||
Playtech PLC, 3.75%, 10/12/23 (Call 10/12/21)(a) | EUR | 100 | 122,145 | |||||||||
Primo Water Holdings Inc., 3.88%, 10/31/28 (Call 10/31/23)(a) | EUR | 100 | 122,793 | |||||||||
Scientific Games International Inc., 5.50%, 02/15/26 (Call 02/15/22)(a) | EUR | 100 | 120,903 | |||||||||
Sealed Air Corp., 4.50%, 09/15/23 (Call 06/15/23)(a) | EUR | 100 | 130,279 | |||||||||
Silgan Holdings Inc. | ||||||||||||
2.25%, 06/01/28 (Call 03/01/23) | EUR | 100 | 120,857 | |||||||||
3.25%, 03/15/25 (Call 03/15/22) | EUR | 100 | 121,222 | |||||||||
Spectrum Brands Inc., 4.00%, 10/01/26 (Call 10/01/21)(a) | EUR | 100 | 123,083 | |||||||||
Standard Industries Inc./NJ, 2.25%, 11/21/26 (Call 08/21/26)(a) | EUR | 100 | 118,325 | |||||||||
Videotron Ltd., 3.13%, 01/15/31 (Call 01/15/26) | CAD | 50 | 39,219 | |||||||||
WMG Acquisition Corp., 3.63%, 10/15/26 (Call 10/15/21)(a) | EUR | 100 | 123,895 | |||||||||
|
| |||||||||||
11,785,303 | ||||||||||||
|
| |||||||||||
Total Corporate Bonds & Notes — 98.1% | 66,622,707 | |||||||||||
|
| |||||||||||
Common Stocks | ||||||||||||
South Africa — 0.0% | ||||||||||||
Sentry Holdings Ltd.Class A | 0 | (g) | 0 | (f) | ||||||||
|
| |||||||||||
Total Common Stocks — 0.0% | 0 | (f) | ||||||||||
|
| |||||||||||
Short-Term Investments | ||||||||||||
Money Market Funds — 0.0% | ||||||||||||
BlackRock Cash Funds: Treasury, SL Agency Shares, 0.00%(h)(i) | 20 | 20,000 | ||||||||||
|
| |||||||||||
Total Short-Term Investments — 0.0% | 20,000 | |||||||||||
|
| |||||||||||
Total Investments in Securities — 98.1% | 66,642,707 | |||||||||||
Other Assets, Less Liabilities — 1.9% | 1,262,763 | |||||||||||
|
| |||||||||||
Net Assets — 100.0% | $ | 67,905,470 | ||||||||||
|
|
(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. Interest rate resets periodically. The rate shown is the effective interest rate as of period end. Security description also includes the reference rate and spread if published and available. |
14 | 2 0 2 1 I SHARES SEMI - ANNUAL REPORT TO SHAREHOLDERS |
Schedule of Investments (unaudited) (continued) April 30, 2021 | iShares® International High Yield Bond ETF |
(c) | Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration to qualified institutional investors. |
(d) | Issuer filed for bankruptcy and/or is in default. |
(e) | Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy. |
(f) | Rounds to less than $1. |
(g) | Rounds to less than 1,000. |
(h) | Affiliate of the Fund. |
(i) | Annualized 7-day yield as of period-end. |
Affiliates
Investments in issuers considered to be affiliate(s) of the Fund during the six months ended April 30, 2021 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:
| ||||||||||||||||||||||||||||||||||||
Affiliated Issuer | Value at 10/31/20 | Purchases at Cost | Proceeds from Sales | Net Realized Gain (Loss) | Change in Unrealized Appreciation (Depreciation) | Value at 04/30/21 | Shares Held at 04/30/21 (000) | Income | Capital Gain Distributions from Underlying Funds | |||||||||||||||||||||||||||
| ||||||||||||||||||||||||||||||||||||
BlackRock Cash Funds: Treasury, SL Agency Shares | $ | 40,000 | $ | — | $ | (20,000 | )(a) | $ | — | $ | — | $ | 20,000 | 20 | $ | 5 | $ | — | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
(a) | Represents net amount purchased (sold). |
Fair Value Measurements
Various inputs are used in determining the fair value of financial instruments. For description of the input levels and information about the Fund’s policy regarding valuation of financial instruments, refer to the Notes to Financial Statements.
The following table summarizes the value of the Fund’s investments according to the fair value hierarchy as of April 30, 2021. The breakdown of the Fund’s investments into major categories is disclosed in the Schedule of Investments above.
| ||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
| ||||||||||||||||
Investments | ||||||||||||||||
Assets | ||||||||||||||||
Corporate Bonds & Notes | $ | — | $ | 66,622,707 | $ | 0 | (a) | $ | 66,622,707 | |||||||
Common Stocks | — | 0 | (a) | — | 0 | (a) | ||||||||||
Money Market Funds | 20,000 | — | — | 20,000 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
$ | 20,000 | $ | 66,622,707 | $ | 0 | (a) | $ | 66,642,707 | ||||||||
|
|
|
|
|
|
|
|
(a) | Rounds to less than $1. |
See notes to financial statements.
SCHEDULE OF INVESTMENTS | 15 |
Schedule of Investments (unaudited) April 30, 2021 | iShares® J.P. Morgan EM Corporate Bond ETF (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||
Corporate Bonds & Notes(a) | ||||||||
Argentina — 1.2% | ||||||||
Agua y Saneamientos Argentinos SA, 6.63%, 02/01/23 (Call 05/10/21)(b) | $ | 300 | $ | 145,744 | ||||
Arcor SAIC, 6.00%, 07/06/23(b) | 375 | 358,078 | ||||||
Arcos Dorados Holdings Inc., 5.88%, 04/04/27 (Call 04/04/22)(b) | 200 | 210,787 | ||||||
MercadoLibre Inc., 3.13%, 01/14/31 (Call 10/14/30) | 200 | 190,550 | ||||||
MSU Energy SA/UGEN SA/UENSA SA, 6.88%, 02/01/25 (Call 02/01/22)(b) | 300 | 204,249 | ||||||
Pampa Energia SA, 7.50%, 01/24/27 (Call 01/24/22)(b) | 450 | 367,200 | ||||||
Stoneway Capital Corp., 10.00%, 03/01/27 (Call 03/01/22)(b)(c) | 266 | 71,649 | ||||||
Transportadora de Gas del Sur SA, 6.75%, 05/02/25 (Call 05/02/22)(b) | 300 | 260,306 | ||||||
YPF SA | ||||||||
1.50%, 09/30/33 (Call 03/30/33)(d)(e) | 250 | 111,063 | ||||||
2.50%, 06/30/29 (Call 12/30/28)(d)(e) | 400 | 215,000 | ||||||
4.00%, 02/12/26 (Call 11/12/25)(d)(e) | 300 | 240,810 | ||||||
6.95%, 07/21/27(b) | 660 | 400,125 | ||||||
7.00%, 12/15/47 (Call 06/15/47)(b) | 350 | 195,738 | ||||||
8.50%, 07/28/25(b) | 700 | 499,625 | ||||||
8.75%, 04/04/24(b) | 680 | 550,927 | ||||||
YPF Socidad Anonima, 2.50%, 06/30/29(b) | 75 | 40,313 | ||||||
YPF Sociedad Anonima, 4.00%, 02/12/26(b) | 100 | 80,270 | ||||||
|
| |||||||
4,142,434 | ||||||||
Azerbaijan — 0.2% | ||||||||
International Bank of Azerbaijan OJSC, 3.50%, 09/01/24(b) | 550 | 544,328 | ||||||
|
| |||||||
Bahrain — 0.2% | ||||||||
BBK BSC, 5.50%, 07/09/24(b) | 400 | 421,200 | ||||||
GFH Sukuk Ltd., 7.50%, 01/28/25(b) | 200 | 196,000 | ||||||
|
| |||||||
617,200 | ||||||||
Brazil — 5.7% | ||||||||
Adecoagro SA, 6.00%, 09/21/27(b) | 150 | 157,219 | ||||||
Amaggi Luxembourg International Sarl, 5.25%, 01/28/28 (Call 01/28/25)(d) | 200 | 208,175 | ||||||
Atento Luxco 1 SA, 8.00%, 02/10/26(b) | 100 | 108,644 | ||||||
Banco Bradesco SA/Cayman Islands, 3.20%, 01/27/25(b) | 200 | 204,250 | ||||||
Banco BTG Pactual SA/Cayman Islands | ||||||||
2.75%, 01/11/26 (Call 12/11/25)(b) | 200 | 189,438 | ||||||
4.50%, 01/10/25 (Call 12/10/24)(b) | 200 | 205,163 | ||||||
Banco do Brasil SA/Cayman | ||||||||
4.63%, 01/15/25(b) | 200 | 213,450 | ||||||
4.75%, 03/20/24(b) | 400 | 427,400 | ||||||
6.25%, (Call 04/15/24)(b)(f)(g) | 400 | 395,500 | ||||||
9.00%, (Call 06/18/24)(b)(f)(g) | 200 | 218,725 | ||||||
9.25%, 12/31/49(b) | 200 | 216,725 | ||||||
Braskem Netherlands Finance BV | ||||||||
4.50%, 01/10/28 (Call 10/10/27)(b) | 200 | 208,000 | ||||||
4.50%, 01/31/30(b)(h) | 400 | 406,600 | ||||||
5.88%, 01/31/50(b) | 200 | 208,750 | ||||||
8.50%, 01/23/81 (Call 10/24/25)(b)(g) | 200 | 230,250 | ||||||
BRF SA, 5.75%, 09/21/50 (Call 03/21/50)(b) | 200 | 195,345 | ||||||
Cemig Geracao e Transmissao SA, 9.25%, 12/05/24 (Call 12/05/23)(b) | 200 | 229,950 | ||||||
Centrais Eletricas Brasileiras SA, | 200 | 201,690 | ||||||
Cosan Luxembourg SA, 7.00%, 01/20/27 (Call 01/20/22)(b)(h) | 200 | 213,162 | ||||||
Cosan SA, 5.50%, 09/20/29 (Call 09/20/24)(b) | 200 | 213,100 | ||||||
CSN Inova Ventures, 6.75%, 01/28/28 (Call 01/28/24)(b) | 400 | 433,300 |
Security | Par (000) | Value | ||||||
Brazil (continued) | ||||||||
CSN Resources SA | ||||||||
7.63%, 02/13/23 (Call 05/31/21)(b) | $ | 200 | $ | 207,975 | ||||
7.63%, 04/17/26 (Call 04/17/22)(b) | 200 | 214,410 | ||||||
Embraer Netherlands Finance BV | ||||||||
5.05%, 06/15/25 | 227 | 237,782 | ||||||
5.40%, 02/01/27 | 250 | 262,344 | ||||||
Fibria Overseas Finance Ltd., 5.50%, 01/17/27 | 200 | 227,610 | ||||||
FS Luxembourg Sarl, 10.00%, 12/15/25(b) | 200 | 217,610 | ||||||
Gerdau Trade Inc., 4.88%, 10/24/27(b) | 200 | 222,750 | ||||||
Globo Comunicacao e Participacoes SA, 4.88%, 01/22/30(b) | 200 | 202,360 | ||||||
Gol Finance SA, 7.00%, 01/31/25(b) | 100 | 91,200 | ||||||
Guara Norte Sarl, 5.20%, 06/15/34(d) | 200 | 200,750 | ||||||
GUSAP III LP, 4.25%, 01/21/30 (Call 07/21/29)(b) | 200 | 210,225 | ||||||
Hidrovias International Finance Sarl, 4.95%, 02/08/31 (Call 02/08/26)(d) | 200 | 203,163 | ||||||
Itau Unibanco Holding SA/Cayman Island | ||||||||
4.50%, 11/21/29 (Call 11/21/24)(b)(g)(h) | 400 | 402,780 | ||||||
4.63%, (Call 02/27/25)(b)(f)(g) | 200 | 190,100 | ||||||
5.13%, 05/13/23(b)(h) | 200 | 211,913 | ||||||
6.13%, (Call 12/12/22)(b)(f)(g) | 200 | 202,350 | ||||||
6.50%, (Call 03/19/23)(b)(f)(g)(h) | 200 | 204,288 | ||||||
JBS Investments II GmbH | ||||||||
5.75%, 01/15/28 (Call 07/15/22)(b) | 400 | 423,160 | ||||||
7.00%, 01/15/26(b) | 200 | 212,960 | ||||||
JSM Global Sarl, 4.75%, 10/20/30 (Call 07/20/30)(b) | 200 | 201,913 | ||||||
Klabin Austria GmbH | ||||||||
3.20%, 01/12/31 (Call 10/12/30)(b) | 400 | 378,875 | ||||||
5.75%, 04/03/29 (Call 01/03/29)(b) | 200 | 222,250 | ||||||
MARB BondCo PLC | ||||||||
3.95%, 01/29/31 (Call 01/29/26)(d) | 200 | 190,600 | ||||||
3.95%, 01/29/31 (Call 01/29/26)(b) | 200 | 190,600 | ||||||
Minerva Luxembourg SA, 4.38%, 03/18/31 (Call 03/18/26)(d)(h) | 200 | 194,052 | ||||||
NBM U.S. Holdings Inc., 7.00%, 05/14/26 (Call 05/14/22)(b) | 200 | 215,037 | ||||||
Odebrecht Drilling Norbe VIII/IX Ltd., | 259 | 103,370 | ||||||
Odebrecht Offshore Drilling Finance Ltd., 7.72%, (7.72% PIK), 12/01/26 (Call 12/01/21)(b)(i) | 173 | 33,570 | ||||||
Oi SA, 10.00%, (4.00% PIK), 07/27/25(i) | 225 | 235,237 | ||||||
Petrobras Global Finance BV | ||||||||
4.38%, 05/20/23(h) | 100 | 105,988 | ||||||
5.09%, 01/15/30(h) | 700 | 739,725 | ||||||
5.30%, 01/27/25 | 200 | 221,537 | ||||||
5.60%, 01/03/31 (Call 10/03/30)(h) | 500 | 539,375 | ||||||
6.00%, 01/27/28 | 300 | 338,250 | ||||||
6.25%, 03/17/24 | 100 | 111,976 | ||||||
6.75%, 01/27/41 | 200 | 226,662 | ||||||
6.75%, 06/03/50 (Call 12/03/49) | 350 | 381,661 | ||||||
6.85%, 06/05/2115(h) | 400 | 421,340 | ||||||
6.88%, 01/20/40 | 148 | 169,904 | ||||||
6.90%, 03/19/49(h) | 300 | 335,955 | ||||||
7.25%, 03/17/44(h) | 275 | 321,062 | ||||||
7.38%, 01/17/27 | 350 | 423,062 | ||||||
8.75%, 05/23/26(h) | 200 | 254,330 | ||||||
Rede D’or Finance Sarl, 4.95%, 01/17/28 (Call 10/17/27)(b) | 400 | 413,325 | ||||||
Rumo Luxembourg Sarl, 5.88%, 01/18/25 (Call 01/18/22)(b) | 200 | 210,900 | ||||||
St. Marys Cement Inc. Canada, 5.75%, 01/28/27 (Call 10/28/26)(b)(h) | 200 | 229,725 | ||||||
Suzano Austria GmbH | ||||||||
3.75%, 01/15/31 (Call 10/15/30) | 300 | 306,000 | ||||||
5.00%, 01/15/30 (Call 10/15/29) | 200 | 219,975 |
16 | 2 0 2 1 I SHARES SEMI - ANNUAL REPORT TO SHAREHOLDERS |
Schedule of Investments (unaudited) (continued) April 30, 2021 | iShares® J.P. Morgan EM Corporate Bond ETF (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||
Brazil (continued) | ||||||||
6.00%, 01/15/29 (Call 10/15/28) | $ | 400 | $ | 467,300 | ||||
7.00%, 03/16/47 (Call 09/16/46)(b) | 200 | 256,750 | ||||||
Ultrapar International SA, 5.25%, 06/06/29(b) | 200 | 209,980 | ||||||
Usiminas International Sarl, 5.88%, 07/18/26 (Call 07/18/23)(b) | 200 | 214,787 | ||||||
Vale Overseas Ltd. | ||||||||
3.75%, 07/08/30 (Call 04/08/30) | 200 | 209,525 | ||||||
6.25%, 08/10/26(h) | 400 | 477,825 | ||||||
6.88%, 11/21/36 | 300 | 407,212 | ||||||
6.88%, 11/10/39 | 250 | 344,094 | ||||||
Vale SA, 5.63%, 09/11/42 | 100 | 124,269 | ||||||
|
| |||||||
20,078,564 | ||||||||
Chile — 3.6% | ||||||||
AES Gener SA, 7.13%, 03/26/79 | 400 | 424,000 | ||||||
Antofagasta PLC, 2.38%, 10/14/30 (Call 07/14/30)(b) | 400 | 389,000 | ||||||
Banco de Credito e Inversiones SA | ||||||||
3.50%, 10/12/27(b)(h) | 400 | 425,325 | ||||||
4.00%, 02/11/23(b) | 200 | 210,475 | ||||||
Banco Santander Chile, 2.70%, 01/10/25 (Call 12/10/24)(b)(h) . | 450 | 468,787 | ||||||
Celulosa Arauco y Constitucion SA | ||||||||
4.20%, 01/29/30 (Call 10/29/29)(b) | 600 | 648,000 | ||||||
4.25%, 04/30/29 (Call 01/30/29)(b) | 400 | 435,500 | ||||||
4.50%, 08/01/24 (Call 05/01/24) | 200 | 217,413 | ||||||
5.15%, 01/29/50 (Call 07/29/49)(b) | 200 | 224,315 | ||||||
5.50%, 04/30/49 (Call 10/30/48)(b) | 200 | 234,180 | ||||||
Cencosud SA | ||||||||
4.38%, 07/17/27 (Call 04/17/27)(b) | 800 | 886,000 | ||||||
5.15%, 02/12/25 (Call 11/12/24)(b) | 200 | 223,287 | ||||||
Colbun SA | ||||||||
3.15%, 03/06/30 (Call 12/06/29)(b) | 200 | 203,663 | ||||||
3.95%, 10/11/27 (Call 07/11/27)(b) | 400 | 436,450 | ||||||
Empresa Electrica Guacolda SA, 4.56%, 04/30/25 (Call 01/30/25)(b)(h) | 200 | 156,000 | ||||||
Empresa Nacional de Telecomunicaciones SA | ||||||||
4.75%, 08/01/26 (Call 05/03/26)(b) | 600 | 665,250 | ||||||
4.88%, 10/30/24 (Call 07/30/24)(b) | 600 | 644,250 | ||||||
Enel Americas SA, 4.00%, 10/25/26 (Call 07/25/26)(h) | 200 | 217,625 | ||||||
Enel Chile SA, 4.88%, 06/12/28 | 700 | 807,975 | ||||||
EnfraGen Energia Sur SA, 5.38%, 12/30/30(b) | 600 | 594,582 | ||||||
Engie Energia Chile SA, 3.40%, 01/28/30 (Call 10/28/29)(b) | 400 | 409,000 | ||||||
GNL Quintero SA, 4.63%, 07/31/29(b) | 600 | 655,612 | ||||||
Inversiones CMPC SA | ||||||||
3.00%, 04/06/31 (Call 01/06/31)(d) | 400 | 396,600 | ||||||
3.85%, 01/13/30 (Call 10/13/29)(b) | 400 | 425,700 | ||||||
4.38%, 04/04/27(b)(h) | 400 | 442,370 | ||||||
Inversiones CMPC SA/Cayman Islands Branch, 4.38%, 05/15/23 (Call 02/15/23)(b) | 400 | 422,825 | ||||||
Kenbourne Invest SA, 6.88%, 11/26/24 (Call 11/26/21)(b) | 400 | 425,320 | ||||||
SACI Falabella, 3.75%, 04/30/23(b)(h) | 200 | 209,288 | ||||||
VTR Comunicaciones SpA, 5.13%, 01/15/28 (Call 07/15/23)(b)(h) | 400 | 418,575 | ||||||
VTR Finance NV, 6.38%, 07/15/28 (Call 07/15/23)(b) | 400 | 432,000 | ||||||
|
| |||||||
12,749,367 | ||||||||
China — 8.6% | ||||||||
Agile Group Holdings Ltd., 8.38%, (Call 12/04/23)(b)(f)(g) | 200 | 207,663 | ||||||
Alibaba Group Holding Ltd. | ||||||||
2.13%, 02/09/31 (Call 11/09/30) | 200 | 192,296 | ||||||
3.25%, 02/09/61 (Call 08/09/60) | 200 | 187,057 | ||||||
3.40%, 12/06/27 (Call 09/06/27) | 300 | 324,996 | ||||||
3.60%, 11/28/24 (Call 08/28/24) | 400 | 433,468 |
Security | Par (000) | Value | ||||||
China (continued) | ||||||||
4.00%, 12/06/37 (Call 06/06/37) | $ | 200 | $ | 216,578 | ||||
4.20%, 12/06/47 (Call 06/06/47) | 400 | 441,008 | ||||||
Amipeace Ltd., 2.50%, 12/05/24(b) | 400 | 419,200 | ||||||
Baidu Inc. | ||||||||
3.08%, 04/07/25 (Call 03/07/25) | 400 | 421,500 | ||||||
4.13%, 06/30/25(h) | 200 | 219,600 | ||||||
Bank of China Ltd., 5.00%, 11/13/24(b) | 400 | 446,325 | ||||||
Bank of China Ltd./Hong Kong | ||||||||
1.03%, 03/08/23, (3 mo. LIBOR US + 0.850%)(b)(g) | 200 | 200,502 | ||||||
3.88%, 06/30/25(b) | 200 | 218,787 | ||||||
Bank of Communications Co. Ltd., 3.80%, (Call 11/18/25)(b)(f)(g) | 600 | 619,050 | ||||||
Bank of Communications Co. Ltd./Hong Kong, 1.04%, 05/17/23, (3 mo. LIBOR US + 0.85%)(b)(g) | 200 | 200,300 | ||||||
Bocom Leasing Management Hong Kong Co. Ltd., 1.26%, 12/10/24, (3 mo. LIBOR US + 1.075%)(b)(g) | 400 | 396,200 | ||||||
CCBL Cayman 1 Corp. Ltd., 1.99%, 07/21/25(b) | 200 | 199,313 | ||||||
CCCI Treasure Ltd., 3.43%, (Call 11/21/24)(b)(f)(g) | 200 | 198,663 | ||||||
Central Plaza Development Ltd., 4.65%, 01/19/26 (Call 10/19/25)(b) | 200 | 194,350 | ||||||
China Cinda 2020 I Management Ltd., 2.50%, 03/18/25 (Call 02/18/25)(b) | 200 | 199,225 | ||||||
China Cinda Finance 2015 I Ltd., | 400 | 425,700 | ||||||
China Cinda Finance 2017 I Ltd. | ||||||||
3.88%, 02/08/23(b) | 200 | 206,814 | ||||||
4.75%, 02/21/29(b) | 200 | 219,287 | ||||||
China Construction Bank Corp., 4.25%, 02/27/29 (Call 02/27/24)(b)(g) | 400 | 429,575 | ||||||
China Construction Bank Corp./Hong Kong, 1.25%, 08/04/25(b) | 200 | 197,913 | ||||||
China Evergrande Group | ||||||||
7.50%, 06/28/23 (Call 05/31/21)(b) | 400 | 350,575 | ||||||
8.75%, 06/28/25 (Call 06/28/21)(b) | 200 | 162,350 | ||||||
10.50%, 04/11/24 (Call 04/11/22)(b) | 200 | 179,475 | ||||||
China Great Wall International Holdings V Ltd., 2.38%, 08/18/30(b) | 200 | 181,225 | ||||||
China Mengniu Dairy Co. Ltd., 1.88%, 06/17/25 (Call 05/17/25)(b) | 200 | 198,626 | ||||||
China Overseas Finance Cayman VI Ltd., 5.95%, 05/08/24(b) . | 200 | 225,287 | ||||||
China Overseas Finance Cayman VII Ltd., 4.25%, 04/26/23(b) | 200 | 210,666 | ||||||
China Overseas Finance Cayman VIII Ltd., 2.75%, 03/02/30(b) | 200 | 194,288 | ||||||
China Resources Land Ltd., 4.13%, 02/26/29(b) | 200 | 213,037 | ||||||
China SCE Group Holdings Ltd., 7.38%, 04/09/24 (Call 04/09/22)(b) | 200 | 208,225 | ||||||
China State Construction Finance Cayman Ltd., 6.00%, (Call 12/03/21)(b)(f)(g) | 200 | 203,913 | ||||||
CICC Hong Kong Finance 2016 MTN Ltd., 1.63%, 01/26/24(b) | 400 | 398,622 | ||||||
CIFI Holdings Group Co. Ltd., 6.00%, 07/16/25 (Call 01/16/23)(b) | 200 | 211,100 | ||||||
CITIC Ltd. | ||||||||
2.85%, 02/25/30(b) | 200 | 198,850 | ||||||
3.88%, 02/28/27(b) | 200 | 216,662 | ||||||
CMB International Leasing Management Ltd., 1.88%, 08/12/25(b) | 400 | 392,325 | ||||||
CMHI Finance BVI Co. Ltd. | ||||||||
3.50%, (Call 10/09/23)(b)(f)(g) | 200 | 202,975 | ||||||
4.38%, 08/06/23(b) | 200 | 212,880 | ||||||
CNOOC Finance 2013 Ltd. | ||||||||
2.88%, 09/30/29 (Call 06/30/29)(h) | 200 | 201,100 |
SCHEDULE OF INVESTMENTS | 17 |
Schedule of Investments (unaudited) (continued) April 30, 2021 | iShares® J.P. Morgan EM Corporate Bond ETF (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||
China (continued) | ||||||||
3.00%, 05/09/23 | $ | 200 | $ | 207,296 | ||||
CNOOC Finance 2014 ULC, 4.25%, 04/30/24 | 200 | 216,566 | ||||||
CNOOC Finance 2015 USA LLC | ||||||||
3.50%, 05/05/25 | 200 | 212,644 | ||||||
4.38%, 05/02/28 | 200 | 221,286 | ||||||
CNOOC Petroleum North America ULC | ||||||||
6.40%, 05/15/37 | 375 | 491,789 | ||||||
7.50%, 07/30/39(h) | 200 | 296,850 | ||||||
CNPC General Capital Ltd., 3.40%, 04/16/23(b) | 200 | 209,413 | ||||||
Contemporary Ruiding Development Ltd., 1.88%, 09/17/25 (Call 06/17/25)(b) | 400 | 397,816 | ||||||
COSL Singapore Capital Ltd., 4.50%, 07/30/25(b) | 200 | 217,600 | ||||||
Country Garden Holdings Co. Ltd. | ||||||||
3.13%, 10/22/25 (Call 09/22/25)(b) | 200 | 200,188 | ||||||
3.30%, 01/12/31 (Call 10/12/30)(b) | 200 | 189,350 | ||||||
4.20%, 02/06/26 (Call 02/06/24)(b) | 200 | 208,288 | ||||||
5.40%, 05/27/25 (Call 05/27/23)(b) | 200 | 213,662 | ||||||
7.25%, 04/08/26 (Call 04/08/23)(b) | 400 | 442,575 | ||||||
CRCC Yuxiang Ltd., 3.50%, 05/16/23(b) | 200 | 207,850 | ||||||
Easy Tactic Ltd., 5.88%, 02/13/23 (Call 05/31/21)(b) | 200 | 187,100 | ||||||
ENN Energy Holdings Ltd., 2.63%, 09/17/30 (Call 06/17/30)(b) | 200 | 193,306 | ||||||
Fortune Star BVI Ltd., 5.95%, 10/19/25 (Call 10/19/23)(b) | 200 | 208,350 | ||||||
Franshion Brilliant Ltd. | ||||||||
4.00%, (Call 01/03/23)(b)(f)(g) | 200 | 200,350 | ||||||
6.00%, (Call 02/08/26)(b)(f)(g) | 200 | 199,188 | ||||||
Huarong Finance 2017 Co. Ltd. | ||||||||
4.25%, 11/07/27(b) | 200 | 149,000 | ||||||
4.75%, 04/27/27(b) | 400 | 298,500 | ||||||
Huarong Finance 2019 Co. Ltd. | ||||||||
3.75%, 05/29/24(b) | 400 | 302,250 | ||||||
4.50%, 05/29/29(b) | 200 | 147,250 | ||||||
Huarong Finance II Co. Ltd., 5.50%, 01/16/25(b) | 400 | 311,000 | ||||||
ICBCIL Finance Co. Ltd., 3.75%, 03/05/24(b) | 200 | 212,912 | ||||||
Industrial & Commercial Bank of China Ltd./London, 1.03%, 10/25/23, (3 mo. LIBOR US + | 400 | 401,496 | ||||||
Industrial & Commercial Bank of China Ltd./Singapore, 1.01%, 04/25/24, | 600 | 601,246 | ||||||
Industrial & Commercial Bank of China Macau Ltd., 2.88%, 09/12/29 (Call 09/12/24)(b)(g) | 400 | 414,825 | ||||||
Inventive Global Investments Ltd., | 200 | 197,250 | ||||||
JD.com Inc., 3.88%, 04/29/26(h) | 200 | 217,662 | ||||||
Joy Treasure Assets Holdings Inc., 3.50%, 09/24/29 (Call 06/24/29)(b) | 200 | 198,650 | ||||||
Kaisa Group Holdings Ltd. | ||||||||
9.38%, 06/30/24 (Call 06/30/21)(b) | 400 | 397,200 | ||||||
10.50%, 01/15/25 (Call 01/15/23)(b) | 200 | 198,538 | ||||||
10.88%, 07/23/23 (Call 07/23/21)(b) | 200 | 208,475 | ||||||
Lenovo Group Ltd. | ||||||||
3.42%, 11/02/30(b) | 200 | 202,038 | ||||||
4.75%, 03/29/23(b) | 200 | 211,100 | ||||||
Longfor Group Holdings Ltd., 3.95%, 09/16/29(b) | 200 | 209,725 | ||||||
Meituan, 3.05%, 10/28/30 (Call 07/28/30)(b) | 400 | 385,744 | ||||||
Poly Developments and Holdings Group Co. Ltd., 3.88%, 03/25/24(b) | 200 | 209,662 | ||||||
Prosus NV | ||||||||
4.85%, 07/06/27 (Call 04/06/27)(b) | 600 | 674,362 | ||||||
5.50%, 07/21/25 (Call 04/21/25)(b) | 800 | 913,400 | ||||||
Proven Honour Capital Ltd. | ||||||||
4.13%, 05/19/25(b) | 200 | 209,787 | ||||||
4.13%, 05/06/26(b) | 200 | 210,912 |
Security | Par (000) | Value | ||||||
China (continued) | ||||||||
RKPF Overseas 2020 A Ltd., 5.20%, 01/12/26 (Call 01/12/24)(b) | $ | 200 | $ | 200,750 | ||||
SF Holding Investment Ltd., 2.88%, 02/20/30(b) | 200 | 198,913 | ||||||
Shanghai Port Group BVI Development 2 Co. Ltd., 2.38%, 07/13/30 (Call 04/13/30)(b) | 200 | 194,288 | ||||||
Shimao Group Holdings Ltd., 5.60%, 07/15/26 (Call 07/15/23)(b) | 400 | 431,450 | ||||||
Shui On Development Holding Ltd., 6.15%, 08/24/24 (Call 08/24/22)(b) | 200 | 208,188 | ||||||
Sino-Ocean Land Treasure Finance II Ltd., 5.95%, 02/04/27(b) | 200 | 222,037 | ||||||
Sinopec Capital 2013 Ltd., 3.13%, 04/24/23(b) | 400 | 416,450 | ||||||
State Elite Global Ltd., 0.95%, 10/24/24, (3 mo. LIBOR US + 0.770%)(b)(g) | 200 | 199,288 | ||||||
Sunac China Holdings Ltd. | ||||||||
5.95%, 04/26/24 (Call 01/26/23)(b) | 200 | 202,500 | ||||||
6.50%, 01/10/25 (Call 01/10/23)(b) | 200 | 203,000 | ||||||
Tencent Holdings Ltd. | ||||||||
1.81%, 01/26/26 (Call 12/26/25)(b)(h) | 400 | 402,824 | ||||||
2.39%, 06/03/30 (Call 03/03/30)(b)(h) | 400 | 390,168 | ||||||
3.24%, 06/03/50 (Call 12/03/49)(b) | 200 | 183,158 | ||||||
3.60%, 01/19/28 (Call 10/19/27)(b)(h) | 300 | 320,742 | ||||||
3.93%, 01/19/38 (Call 07/19/37)(b)(h) | 400 | 421,825 | ||||||
3.94%, 04/22/61 (Call 10/22/60)(d) | 200 | 201,378 | ||||||
3.98%, 04/11/29 (Call 01/11/29)(b)(h) | 200 | 217,912 | ||||||
4.53%, 04/11/49 (Call 10/11/48)(b) | 200 | 226,787 | ||||||
Vanke Real Estate Hong Kong Co. Ltd. | ||||||||
4.15%, 04/18/23(b) | 200 | 209,537 | ||||||
4.20%, 06/07/24(b) | 400 | 429,700 | ||||||
Weibo Corp., 3.38%, 07/08/30 (Call 04/08/30) | 200 | 199,100 | ||||||
Well Hope Development Ltd., 3.88%, (Call 10/19/22)(b)(f)(g) | 200 | 203,600 | ||||||
Yuzhou Group Holdings Co. Ltd., 6.35%, 01/13/27 (Call 01/13/25)(b) | 200 | 165,125 | ||||||
|
| |||||||
30,230,722 | ||||||||
Colombia — 4.2% | ||||||||
AI Candelaria Spain SLU, 7.50%, 12/15/28 (Call 09/15/28)(b) | 500 | 574,375 | ||||||
Banco Davivienda SA, 6.65%, | 400 | 406,620 | ||||||
Banco de Bogota SA | ||||||||
4.38%, 08/03/27 (Call 05/03/27)(b) | 550 | 584,238 | ||||||
5.38%, 02/19/23(b) | 200 | 211,475 | ||||||
6.25%, 05/12/26(b) | 600 | 671,700 | ||||||
Bancolombia SA | ||||||||
3.00%, 01/29/25 (Call 12/29/24)(h) | 400 | 409,000 | ||||||
4.63%, 12/18/29 (Call 12/18/24)(g) | 400 | 403,252 | ||||||
4.88%, 10/18/27 (Call 10/18/22)(g)(h) | 600 | 608,175 | ||||||
Colombia Telecomunicaciones SA ESP, 4.95%, 07/17/30 (Call 04/17/30)(b)(h) | 400 | 420,960 | ||||||
Ecopetrol SA | ||||||||
4.13%, 01/16/25 | 833 | 884,188 | ||||||
5.38%, 06/26/26 (Call 03/26/26)(h) | 935 | 1,049,257 | ||||||
5.88%, 09/18/23 | 1,050 | 1,154,475 | ||||||
5.88%, 05/28/45 | 1,300 | 1,383,362 | ||||||
6.88%, 04/29/30 (Call 01/29/30) | 1,250 | 1,512,437 | ||||||
7.38%, 09/18/43 | 500 | 616,850 | ||||||
Grupo Aval Ltd., 4.38%, 02/04/30 | 600 | 600,675 | ||||||
Grupo de Inversiones Suramericana SA, 5.50%, 04/29/26(b) | 400 | 445,246 | ||||||
Millicom International Cellular SA | ||||||||
4.50%, 04/27/31 (Call 04/27/26)(b) | 200 | 212,500 | ||||||
6.25%, 03/25/29 (Call 03/25/24)(b) | 540 | 602,033 | ||||||
Oleoducto Central SA, 4.00%, 07/14/27 (Call 05/14/27)(b) | 400 | 423,500 |
18 | 2 0 2 1 I SHARES SEMI - ANNUAL REPORT TO SHAREHOLDERS |
Schedule of Investments (unaudited) (continued) April 30, 2021 | iShares® J.P. Morgan EM Corporate Bond ETF (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||
Colombia (continued) | ||||||||
Promigas SA ESP/Gases del Pacifico SAC, 3.75%, 10/16/29 (Call 07/16/29)(b) | $ | 200 | $ | 202,725 | ||||
SURA Asset Management SA, | 300 | 326,025 | ||||||
Termocandelaria Power Ltd., 7.88%, 01/30/29 (Call 01/30/23)(b)(h) | 370 | 400,941 | ||||||
Transportadora de Gas Internacional SA ESP, 5.55%, 11/01/28 (Call 08/01/28)(b) | 600 | 670,613 | ||||||
|
| |||||||
14,774,622 | ||||||||
Congo — 0.2% | ||||||||
HTA Group Ltd./Mauritius, 7.00%, 12/18/25 (Call 06/18/22)(b) | 600 | 638,550 | ||||||
|
| |||||||
Ghana — 0.3% | ||||||||
Kosmos Energy Ltd., 7.13%, 04/04/26 (Call 04/04/22)(b) | 400 | 388,125 | ||||||
Tullow Oil PLC, 7.00%, 03/01/25 | 600 | 513,000 | ||||||
|
| |||||||
901,125 | ||||||||
Guatemala — 0.2% | ||||||||
Central American Bottling Corp., 5.75%, 01/31/27 (Call 01/31/22)(b) | 500 | 526,250 | ||||||
Investment Energy Resources Ltd., 6.25%, 04/26/29 (Call 04/26/25)(d) | 200 | 212,700 | ||||||
|
| |||||||
738,950 | ||||||||
Hong Kong — 4.9% | ||||||||
AIA Group Ltd. | ||||||||
3.20%, 09/16/40 (Call 03/16/40)(b) | 600 | 592,068 | ||||||
3.38%, 04/07/30 (Call 01/07/30)(b) | 200 | 214,641 | ||||||
3.60%, 04/09/29 (Call 01/09/29)(b) | 400 | 431,575 | ||||||
3.90%, 04/06/28 (Call 01/06/28)(b)(h) | 200 | 219,100 | ||||||
4.50%, 03/16/46 (Call 09/16/45)(b) | 200 | 241,100 | ||||||
Bank of China Hong Kong Ltd., 5.90%, (Call 09/14/23)(b)(f)(g) | 800 | 859,750 | ||||||
Bank of Communications Hong Kong Ltd., 3.73%, (Call 03/03/25)(b)(f)(g) | 250 | 254,984 | ||||||
Bank of East Asia Ltd. (The) | ||||||||
4.00%, 11/03/26 (Call 11/03/21)(b)(g) | 400 | 403,325 | ||||||
5.83%, (Call 10/21/25)(b)(f)(g) | 250 | 266,172 | ||||||
5.88%, (Call 09/19/24)(b)(f)(g) | 250 | 266,062 | ||||||
CAS Capital No. 1 Ltd., 4.00%, | 200 | 199,688 | ||||||
Celestial Dynasty Ltd., 4.25%, 06/27/29(b) | 400 | 408,450 | ||||||
Celestial Miles Ltd., 5.75%, (Call 01/31/24)(b)(f)(g) | 200 | 212,162 | ||||||
China CITIC Bank International Ltd. | ||||||||
4.63%, 02/28/29 (Call 02/28/24)(b)(g) | 250 | 264,031 | ||||||
7.10%, (Call 11/06/23)(b)(f)(g) | 200 | 217,725 | ||||||
CK Hutchison International 16 Ltd., 2.75%, 10/03/26(b) | 200 | 212,225 | ||||||
CK Hutchison International 19 II Ltd., 2.75%, 09/06/29 (Call 06/06/29)(b) | 200 | 204,538 | ||||||
CK Hutchison International 19 Ltd. | ||||||||
3.25%, 04/11/24 (Call 03/11/24)(b)(h) | 400 | 427,088 | ||||||
3.38%, 09/06/49(b) | 200 | 205,288 | ||||||
3.63%, 04/11/29 (Call 01/11/29)(b)(h) | 400 | 434,950 | ||||||
CK Hutchison International 20 Ltd. | ||||||||
2.50%, 05/08/30 (Call 02/08/30)(b) | 800 | 797,400 | ||||||
3.38%, 05/08/50(b) | 200 | 205,188 | ||||||
CLP Power Hong Kong Financing Ltd., 2.13%, 06/30/30(b) | 200 | 193,663 | ||||||
Elect Global Investments Ltd., 4.10%, (Call 06/03/25)(b)(f)(g) | 200 | 202,475 | ||||||
FWD Group Ltd. | ||||||||
0.00%, (Call 06/15/22)(b)(f)(g)(j) | 200 | 181,975 | ||||||
5.75%, 07/09/24(b) | 200 | 211,787 | ||||||
6.38%, (Call 09/13/24)(b)(f)(g) | 200 | 205,225 | ||||||
Henderson Land MTN Ltd., 2.38%, 05/27/25(b) | 200 | 200,538 | ||||||
HKT Capital No. 4 Ltd., 3.00%, 07/14/26(b) | 200 | 210,350 | ||||||
HKT Capital No. 5 Ltd., 3.25%, 09/30/29(b) | 200 | 206,787 |
Security | Par (000) | Value | ||||||
Hong Kong (continued) | ||||||||
Hongkong Electric Finance Ltd. | ||||||||
1.88%, 08/27/30 (Call 02/27/30)(b) | $ | 200 | $ | 189,538 | ||||
2.88%, 05/03/26(b) | 200 | 212,100 | ||||||
Hongkong Land Finance Cayman Islands Co. Ltd. (The), 2.88%, 05/27/30 (Call 02/27/30)(b) | 200 | 203,663 | ||||||
HPHT Finance 19 Ltd., 2.88%, 11/05/24(b) | 200 | 209,912 | ||||||
Hutchison Whampoa International 14 Ltd., 3.63%, 10/31/24(b) | 600 | 658,800 | ||||||
Hutchison Whampoa International Ltd., 7.45%, 11/24/33(b) | 100 | 148,344 | ||||||
Hysan MTN Ltd., 2.82%, 09/04/29(b) | 200 | 200,350 | ||||||
IFC Development Corporate Treasury Ltd., 3.63%, 04/17/29(b) | 200 | 210,600 | ||||||
Industrial & Commercial Bank of China Asia Ltd., 4.25%, (Call 07/21/21)(b)(f)(g) | 400 | 402,200 | ||||||
Li & Fung Ltd. | ||||||||
4.38%, 10/04/24 (Call 09/04/24)(b) | 200 | 199,725 | ||||||
4.50%, 08/18/25 (Call 07/18/25)(b) | 400 | 401,450 | ||||||
Link Finance Cayman 2009 Ltd. (The), 3.60%, 09/03/24(b) | 200 | 212,975 | ||||||
MTR Corp. Ltd., 1.63%, 08/19/30(b) | 600 | 568,050 | ||||||
Nan Fung Treasury III Ltd., | 200 | 201,475 | ||||||
Nan Fung Treasury Ltd., 3.63%, 08/27/30(b) | 200 | 199,112 | ||||||
Nanyang Commercial Bank Ltd., 5.00%, (Call 06/02/22)(b)(f)(g) | 350 | 353,062 | ||||||
New World China Land Ltd., 4.75%, 01/23/27(b) | 200 | 211,225 | ||||||
NWD Finance BVI Ltd. | ||||||||
4.80%, (Call 09/09/23)(b)(f) | 200 | 195,100 | ||||||
5.25%, (Call 03/22/26)(b)(f)(g) | 200 | 213,475 | ||||||
6.25%, (Call 03/07/24)(b)(f) | 400 | 417,825 | ||||||
NWD MTN Ltd. | ||||||||
4.13%, 07/18/29(b) | 200 | 205,163 | ||||||
4.50%, 05/19/30(b) | 400 | 420,325 | ||||||
Panther Ventures Ltd., 3.50%, (Call 12/22/23)(b)(f) | 200 | 189,100 | ||||||
PCCW-HKT Capital No. 5 Ltd., 3.75%, 03/08/23(b) | 200 | 209,662 | ||||||
Sun Hung Kai Properties Capital Market Ltd. | ||||||||
2.75%, 05/13/30 (Call 02/13/30)(b) | 200 | 202,038 | ||||||
2.88%, 01/21/30(b) | 200 | 203,850 | ||||||
Swire Pacific Mtn Financing HK Ltd., 2.88%, 01/30/30 (Call 10/30/29)(b) | 200 | 205,225 | ||||||
Swire Pacific MTN Financing Ltd., 4.50%, 10/09/23(b) | 200 | 216,537 | ||||||
Swire Properties MTN Financing Ltd., 3.63%, 01/13/26(b) | 200 | 215,037 | ||||||
Wheelock MTN BVI Ltd., 2.38%, 01/25/26(b) | 200 | 199,475 | ||||||
|
| |||||||
17,025,703 | ||||||||
India — 4.6% | ||||||||
ABJA Investment Co. Pte Ltd. | ||||||||
5.45%, 01/24/28(b) | 400 | 414,096 | ||||||
5.95%, 07/31/24(b) | 400 | 433,325 | ||||||
Adani Electricity Mumbai Ltd., 3.95%, 02/12/30(b) | 400 | 401,200 | ||||||
Adani Green Energy UP Ltd./Prayatna Developers Pvt Ltd./Parampujya Solar Energy, 6.25%, 12/10/24(b) | 200 | 220,600 | ||||||
Adani Ports & Special Economic Zone Ltd. | ||||||||
3.10%, 02/02/31(d) | 200 | 186,500 | ||||||
3.38%, 07/24/24(b)(h) | 200 | 209,234 | ||||||
4.00%, 07/30/27 (Call 06/30/27)(b) | 200 | 207,913 | ||||||
4.20%, 08/04/27 (Call 02/04/27)(b)(h) | 400 | 420,075 | ||||||
Adani Transmission Ltd., 4.00%, 08/03/26(b) | 200 | 211,412 | ||||||
Bharat Petroleum Corp. Ltd., 4.00%, 05/08/25(b) | 200 | 210,537 | ||||||
Bharti Airtel International Netherlands BV, 5.35%, 05/20/24(b) | 400 | 440,080 | ||||||
Bharti Airtel Ltd. | ||||||||
3.25%, 06/03/31(b) | 200 | 194,095 | ||||||
4.38%, 06/10/25(b) | 600 | 646,987 | ||||||
BPRL International Singapore Pte Ltd., 4.38%, 01/18/27(b) | 200 | 211,350 |
SCHEDULE OF INVESTMENTS | 19 |
Schedule of Investments (unaudited) (continued) April 30, 2021 | iShares® J.P. Morgan EM Corporate Bond ETF (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||
India (continued) | ||||||||
Continuum Energy Levanter Pte Ltd., 4.50%, 02/09/27 (Call 02/09/24)(d) | $ | 200 | $ | 202,700 | ||||
Delhi International Airport Ltd., | 400 | 400,075 | ||||||
Future Retail Ltd., 5.60%, 01/22/25 (Call 01/22/23)(b) | 200 | 159,538 | ||||||
Greenko Solar Mauritius Ltd. | ||||||||
5.55%, 01/29/25(b) | 400 | 411,500 | ||||||
5.95%, 07/29/26 (Call 07/29/22)(b) | 400 | 429,200 | ||||||
HCL America Inc., 1.38%, 03/10/26 (Call 02/10/26)(d) | 200 | 196,913 | ||||||
Hindustan Petroleum Corp. Ltd., 4.00%, 07/12/27(b) | 200 | 210,162 | ||||||
ICICI Bank Ltd./Dubai, 4.00%, 03/18/26(b) | 450 | 483,412 | ||||||
Indian Oil Corp. Ltd., 4.75%, 01/16/24(b) | 400 | 431,450 | ||||||
Indian Railway Finance Corp. Ltd. | ||||||||
2.80%, 02/10/31(d) | 200 | 189,092 | ||||||
3.25%, 02/13/30(b)(h) | 200 | 198,475 | ||||||
3.73%, 03/29/24(b) | 200 | 212,475 | ||||||
3.84%, 12/13/27(b) | 200 | 215,100 | ||||||
Network i2i Ltd. | ||||||||
3.98%, (Call 03/03/26)(d)(f)(g) | 200 | 201,000 | ||||||
5.65%, (Call 01/15/25)(b)(f)(g) | 200 | 212,475 | ||||||
NTPC Ltd. | ||||||||
4.25%, 02/26/26(b) | 200 | 214,600 | ||||||
4.38%, 11/26/24(b) | 200 | 216,600 | ||||||
Oil India International Pte Ltd., | 200 | 211,475 | ||||||
Oil India Ltd. | ||||||||
5.13%, 02/04/29(b) | 200 | 220,850 | ||||||
5.38%, 04/17/24(b) | 200 | 220,475 | ||||||
ONGC Videsh Ltd., 4.63%, 07/15/24(b) | 400 | 435,200 | ||||||
ONGC Videsh Vankorneft Pte Ltd., 3.75%, 07/27/26(b) | 200 | 209,787 | ||||||
Periama Holdings LLC/DE, 5.95%, 04/19/26(b) | 400 | 426,300 | ||||||
Power Finance Corp. Ltd. | ||||||||
3.35%, 05/16/31(b) | 200 | 191,975 | ||||||
3.95%, 04/23/30(b) | 200 | 201,913 | ||||||
4.50%, 06/18/29(b) | 400 | 417,950 | ||||||
REC Ltd. | ||||||||
3.38%, 07/25/24(b) | 200 | 207,663 | ||||||
5.25%, 11/13/23(b) | 400 | 432,200 | ||||||
Reliance Industries Ltd. | ||||||||
3.67%, 11/30/27(b) | 250 | 269,578 | ||||||
4.13%, 01/28/25(b) | 250 | 272,469 | ||||||
4.88%, 02/10/45(b) | 250 | 297,078 | ||||||
ReNew Power Synthetic, 6.67%, 03/12/24 (Call 05/31/21)(b) | 200 | 209,538 | ||||||
ReNew Wind Energy AP2/ReNew Power Pvt Ltd. other 9 Subsidiaries, 4.50%, 07/14/28 (Call 10/14/23)(d) | 200 | 198,750 | ||||||
Shriram Transport Finance Co. Ltd., 4.40%, 03/13/24(b) | 200 | 197,750 | ||||||
State Bank of India/London | ||||||||
1.80%, 07/13/26(b) | 400 | 394,000 | ||||||
4.38%, 01/24/24(b) | 400 | 431,450 | ||||||
4.88%, 04/17/24(b)(h) | 200 | 219,912 | ||||||
Vedanta Resources Finance II PLC | ||||||||
8.95%, 03/11/25 (Call 09/11/24)(d) | 400 | 394,400 | ||||||
9.25%, 04/23/26 (Call 04/23/23)(b) | 200 | 179,225 | ||||||
13.88%, 01/21/24 (Call 12/21/22)(b) | 400 | 438,700 | ||||||
Vedanta Resources Ltd. | ||||||||
6.13%, 08/09/24 (Call 08/09/21)(b) | 400 | 341,450 | ||||||
7.13%, 05/31/23(b) | 200 | 188,350 | ||||||
|
| |||||||
16,200,609 | ||||||||
Indonesia — 2.5% | ||||||||
Adaro Indonesia PT, 4.25%, 10/31/24 (Call 10/31/22)(b) | 500 | 512,281 |
Security | Par (000) | Value | ||||||
Indonesia (continued) | ||||||||
Bank Mandiri Persero Tbk PT | ||||||||
3.75%, 04/11/24(b) | $ | 200 | $ | 211,163 | ||||
4.75%, 05/13/25(b) | 600 | 660,900 | ||||||
Bank Rakyat Indonesia Persero Tbk PT | ||||||||
3.95%, 03/28/24(b) | 400 | 426,700 | ||||||
4.63%, 07/20/23(b) | 200 | 213,750 | ||||||
Cikarang Listrindo Tbk PT, 4.95%, 09/14/26 (Call 09/14/21)(b) | 200 | 205,475 | ||||||
Indika Energy Capital III Pte Ltd., 5.88%, 11/09/24 (Call 11/09/21)(b) | 250 | 253,250 | ||||||
Indika Energy Capital IV Pte Ltd., 8.25%, 10/22/25 (Call 10/22/22)(b) | 500 | 535,094 | ||||||
LLPL Capital Pte Ltd., 6.88%, 02/04/39(b) | 547 | 638,617 | ||||||
Medco Bell Pte Ltd., 6.38%, 01/30/27 (Call 01/30/24)(b) | 400 | 411,075 | ||||||
Medco Oak Tree Pte Ltd., 7.38%, 05/14/26 (Call 05/14/23)(b)(h) | 400 | 434,075 | ||||||
Medco Platinum Road Pte Ltd., 6.75%, 01/30/25 (Call 01/30/22)(b) | 400 | 423,200 | ||||||
Minejesa Capital BV | ||||||||
4.63%, 08/10/30(b) | 800 | 840,920 | ||||||
5.63%, 08/10/37(b) | 600 | 635,737 | ||||||
Perusahaan Gas Negara Tbk PT, 5.13%, 05/16/24(b) | 1,000 | 1,100,187 | ||||||
Saka Energi Indonesia PT, 4.45%, 05/05/24(b) | 400 | 333,950 | ||||||
Star Energy Geothermal Darajat II / Star Energy Geothermal Salak, 4.85%, 10/14/38 (Call 10/14/29)(b) | 400 | 444,325 | ||||||
Star Energy Geothermal Wayang Windu Ltd., 6.75%, 04/24/33 (Call 04/24/26)(b) | 355 | 403,404 | ||||||
|
| |||||||
8,684,103 | ||||||||
Israel — 3.5% | ||||||||
Bank Leumi Le-Israel BM, 3.28%, 01/29/31 (Call 01/29/26)(d)(g) | 400 | 412,250 | ||||||
Energean Israel Finance Ltd. | ||||||||
4.50%, 03/30/24 (Call 12/30/23) | 200 | 205,138 | ||||||
4.88%, 03/30/26 (Call 12/30/25) | 400 | 412,520 | ||||||
5.38%, 03/30/28 (Call 09/30/27) | 400 | 412,875 | ||||||
5.88%, 03/30/31 (Call 09/30/30) | 300 | 308,906 | ||||||
ICL Group Ltd., 6.38%, 05/31/38 | 350 | 442,750 | ||||||
Israel Electric Corp. Ltd. | ||||||||
4.25%, 08/14/28 | 600 | 665,362 | ||||||
6.88%, 06/21/23(b) | 200 | 224,288 | ||||||
Series 6, 5.00%, 11/12/24(d) | 800 | 896,950 | ||||||
Leviathan Bond Ltd. | ||||||||
5.75%, 06/30/23 (Call 03/30/23)(d) | 200 | 209,225 | ||||||
6.13%, 06/30/25 (Call 03/30/25)(d) | 400 | 438,000 | ||||||
6.50%, 06/30/27 (Call 12/30/26)(d) | 300 | 332,681 | ||||||
6.75%, 06/30/30 (Call 12/30/29)(d) | 300 | 335,963 | ||||||
Mizrahi Tefahot Bank Ltd., 3.08%, 04/07/31 (Call 04/07/26)(d)(g) | 200 | 203,330 | ||||||
Teva Pharmaceutical Finance Co. LLC, 6.15%, 02/01/36(h) | 400 | 431,048 | ||||||
Teva Pharmaceutical Finance Netherlands III BV | ||||||||
2.80%, 07/21/23 | 1,486 | 1,474,112 | ||||||
3.15%, 10/01/26(h) | 1,751 | 1,642,000 | ||||||
4.10%, 10/01/46(h) | 1,040 | 886,600 | ||||||
6.00%, 04/15/24 (Call 01/15/24) | 800 | 840,000 | ||||||
6.75%, 03/01/28 (Call 12/01/27) | 700 | 756,875 | ||||||
7.13%, 01/31/25 (Call 10/31/24) | 600 | 649,875 | ||||||
|
| |||||||
12,180,748 | ||||||||
Jamaica — 0.6% | ||||||||
Digicel Group 0.5 Ltd. (2.00% PIK), 10.00%, 04/01/24 (Call 05/17/21)(i) | 576 | 564,646 | ||||||
Digicel Holdings Bermuda Ltd./Digicel International Finance Ltd., 8.75%, 05/25/24 (Call 05/25/21)(b) | 1,050 | 1,091,625 |
20 | 2 0 2 1 I SHARES SEMI - ANNUAL REPORT TO SHAREHOLDERS |
Schedule of Investments (unaudited) (continued) April 30, 2021 | iShares® J.P. Morgan EM Corporate Bond ETF (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||
Jamaica (continued) | ||||||||
Digicel Ltd., 6.75%, 03/01/23 (Call 05/17/21)(b) | $ | 400 | $ | 376,875 | ||||
|
| |||||||
2,033,146 | ||||||||
Jordan — 0.1% | ||||||||
Hikma Finance USA LLC, 3.25%, 07/09/25(b) | 400 | 414,875 | ||||||
|
| |||||||
Kazakhstan — 0.4% | ||||||||
Tengizchevroil Finance Co. International Ltd. | ||||||||
3.25%, 08/15/30 (Call 02/15/30)(b) | 600 | 612,000 | ||||||
4.00%, 08/15/26(b) | 700 | 746,069 | ||||||
|
| |||||||
1,358,069 | ||||||||
Kuwait — 1.7% | ||||||||
Boubyan Sukuk Ltd., 2.59%, 02/18/25(b) | 400 | 414,875 | ||||||
Burgan Bank SAK | ||||||||
2.75%, 12/15/31 (Call 09/15/26)(b)(g) | 400 | 379,000 | ||||||
5.75%, (Call 07/09/24)(b)(f)(g) | 400 | 396,075 | ||||||
Equate Petrochemical BV | ||||||||
2.63%, 04/28/28 (Call 01/28/28)(d) | 200 | 200,230 | ||||||
4.25%, 11/03/26(b) | 600 | 662,737 | ||||||
Equate Sukuk Spc Ltd., 3.94%, 02/21/24(b) | 400 | 426,475 | ||||||
Kuwait Projects Co. SPC Ltd. | ||||||||
4.23%, 10/29/26(b) | 400 | 393,200 | ||||||
4.50%, 02/23/27(b) | 200 | 195,850 | ||||||
5.00%, 03/15/23(b) | 400 | 412,450 | ||||||
MEGlobal Canada ULC | ||||||||
5.00%, 05/18/25(b) | 600 | 671,175 | ||||||
5.88%, 05/18/30(b) | 600 | 733,800 | ||||||
NBK Tier 1 Financing 2 Ltd., 4.50%, | 400 | 416,075 | ||||||
NBK Tier 1 Financing Ltd., 3.63%, | 400 | 399,125 | ||||||
Warba Sukuk Ltd., 2.98%, 09/24/24(b) | 200 | 211,163 | ||||||
|
| |||||||
5,912,230 | ||||||||
Luxembourg — 0.6% | ||||||||
Altice Financing SA | ||||||||
5.00%, 01/15/28 (Call 01/15/23)(b) | 600 | 591,750 | ||||||
7.50%, 05/15/26 (Call 05/15/21)(b) | 1,395 | 1,444,913 | ||||||
|
| |||||||
2,036,663 | ||||||||
Macau — 4.1% | ||||||||
Champion Path Holdings Ltd. | ||||||||
4.50%, 01/27/26 (Call 01/27/24)(b) | 200 | 209,250 | ||||||
4.85%, 01/27/28 (Call 01/27/25)(b) | 400 | 420,075 | ||||||
Melco Resorts Finance Ltd. | ||||||||
4.88%, 06/06/25 (Call 05/31/21)(b)(h) | 604 | 618,911 | ||||||
5.25%, 04/26/26 (Call 04/26/22)(b)(h) | 400 | 417,200 | ||||||
5.38%, 12/04/29 (Call 12/04/24)(b) | 600 | 635,700 | ||||||
5.63%, 07/17/27 (Call 07/17/22)(b)(h) | 400 | 423,325 | ||||||
5.75%, 07/21/28 (Call 07/21/23)(b)(h) | 600 | 644,175 | ||||||
MGM China Holdings Ltd. | ||||||||
4.75%, 02/01/27 (Call 02/01/24)(d) | 400 | 411,500 | ||||||
5.25%, 06/18/25 (Call 06/18/22)(b) | 200 | 208,850 | ||||||
5.38%, 05/15/24 (Call 05/15/21)(b) | 800 | 823,400 | ||||||
5.88%, 05/15/26 (Call 05/15/22)(b) | 400 | 421,325 | ||||||
Sands China Ltd. | ||||||||
3.80%, 01/08/26 (Call 12/08/25)(k) | 600 | 635,004 | ||||||
4.38%, 06/18/30 (Call 03/18/30)(k) | 600 | 637,800 | ||||||
4.60%, 08/08/23 (Call 07/08/23) | 1,000 | 1,069,000 | ||||||
5.13%, 08/08/25 (Call 06/08/25) | 1,000 | 1,113,250 | ||||||
5.40%, 08/08/28 (Call 05/08/28)(h) | 1,200 | 1,359,600 | ||||||
Studio City Finance Ltd. | ||||||||
5.00%, 01/15/29 (Call 01/15/24)(b) | 500 | 510,094 | ||||||
6.00%, 07/15/25 (Call 07/15/22)(b) | 200 | 211,100 |
Security | Par (000) | Value | ||||||
Macau (continued) | ||||||||
6.50%, 01/15/28 (Call 07/15/23)(b) | $ | 400 | $ | 433,500 | ||||
Wynn Macau Ltd. | ||||||||
4.88%, 10/01/24 (Call 05/31/21)(b) | 400 | 405,400 | ||||||
5.13%, 12/15/29 (Call 12/15/24)(b) | 600 | 614,813 | ||||||
5.50%, 01/15/26 (Call 06/15/22)(b) | 600 | 627,750 | ||||||
5.50%, 10/01/27 (Call 10/01/22)(b) | 600 | 626,362 | ||||||
Wynn Macau Ltd. SR, 5.63%, 08/26/28 (Call 08/26/23)(b) | 800 | 839,000 | ||||||
|
| |||||||
14,316,384 | ||||||||
Malaysia — 1.6% | ||||||||
Axiata SPV2 Bhd | ||||||||
2.16%, 08/19/30 (Call 05/19/30)(b) | 200 | 192,538 | ||||||
4.36%, 03/24/26(b) | 400 | 448,075 | ||||||
Axiata SPV5 Labuan Ltd., 3.06%, 08/19/50 (Call 02/19/50)(b) | 600 | 547,612 | ||||||
CIMB Bank Bhd, 0.97%, 10/09/24, (3 mo. LIBOR US + 0.780%)(b)(g) | 400 | 400,325 | ||||||
Genm Capital Labuan Ltd., 3.88%, 04/19/31 (Call 01/19/31)(d) | 600 | 594,126 | ||||||
Gohl Capital Ltd., 4.25%, 01/24/27(b) | 1,000 | 1,057,500 | ||||||
Malayan Banking Bhd, 0.99%, 08/16/24, (3 mo. LIBOR US + 0.800%)(b)(g) | 1,000 | 1,001,250 | ||||||
Parkway Pantai Ltd., 4.25%, (Call 07/27/22)(b)(f)(g) | 200 | 200,913 | ||||||
TNB Global Ventures Capital Bhd | ||||||||
3.24%, 10/19/26(b) | 600 | 637,800 | ||||||
4.85%, 11/01/28(b) | 400 | 462,825 | ||||||
|
| |||||||
5,542,964 | ||||||||
Mexico — 5.4% | ||||||||
Alfa SAB de CV | ||||||||
5.25%, 03/25/24 (Call 12/25/23)(b) | 200 | 219,150 | ||||||
6.88%, 03/25/44 (Call 09/25/43)(b) | 200 | 253,230 | ||||||
Alpek SAB de CV, 4.25%, 09/18/29 (Call 06/18/29)(b) | 200 | 211,440 | ||||||
America Movil SAB de CV | ||||||||
2.88%, 05/07/30 (Call 02/07/30) | 400 | 413,428 | ||||||
3.63%, 04/22/29 (Call 01/22/29)(h) | 200 | 216,913 | ||||||
4.38%, 07/16/42 | 200 | 230,537 | ||||||
4.38%, 04/22/49 (Call 10/22/48) | 400 | 468,862 | ||||||
6.13%, 03/30/40 | 400 | 553,575 | ||||||
6.38%, 03/01/35 | 400 | 560,308 | ||||||
Banco Inbursa SA Institucion De Banca Multiple Grupo Financiero Inbursa, 4.13%, 06/06/24(b) | 450 | 481,866 | ||||||
Banco Mercantil del Norte SA/Grand Cayman | ||||||||
6.75%, (Call 09/27/24)(b)(f)(g)(h) | 200 | 209,225 | ||||||
7.63%, 12/31/49(b) | 200 | 220,750 | ||||||
8.38%, 12/31/49(b) | 200 | 235,690 | ||||||
Banco Santander Mexico SA Institucion de Banca Multiple Grupo Financiero Santand | ||||||||
5.38%, 04/17/25(b) | 350 | 393,872 | ||||||
5.95%, 10/01/28(b) | 400 | 432,700 | ||||||
BBVA Bancomer SA/Texas | ||||||||
4.38%, 04/10/24(b) | 150 | 162,807 | ||||||
5.13%, 01/18/33 (Call 01/17/28)(b)(g) | 400 | 414,575 | ||||||
5.88%, 09/13/34 (Call 09/13/29)(b)(g) | 200 | 218,162 | ||||||
Becle SAB de CV, 3.75%, 05/13/25(b) | 150 | 162,263 | ||||||
Braskem Idesa SAPI, 7.45%, 11/15/29 (Call 11/15/24)(b)(h) | 200 | 201,350 | ||||||
Cemex SAB de CV | ||||||||
3.88%, 07/11/31 (Call 07/11/26)(b) | 400 | 394,380 | ||||||
5.20%, 09/17/30 (Call 09/17/25)(b) | 200 | 217,640 | ||||||
5.45%, 11/19/29 (Call 11/19/24)(b) | 400 | 438,075 | ||||||
7.38%, 06/05/27 (Call 06/05/23)(b) | 400 | 452,100 | ||||||
Cibanco SA Ibm/PLA Administradora Industrial S de RL de CV, 4.96%, 07/18/29 (Call 04/18/29)(b) | 200 | 218,950 |
SCHEDULE OF INVESTMENTS | 21 |
Schedule of Investments (unaudited) (continued) April 30, 2021 | iShares® J.P. Morgan EM Corporate Bond ETF (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||
Mexico (continued) | ||||||||
Coca-Cola Femsa SAB de CV | ||||||||
1.85%, 09/01/32 (Call 06/01/32) | $ | 150 | $ | 139,220 | ||||
5.25%, 11/26/43 | 300 | 376,404 | ||||||
Cometa Energia SA de CV, 6.38%, 04/24/35 (Call 01/24/35)(b)(h) | 183 | 206,564 | ||||||
Credito Real SAB de CV SOFOM ER, 8.00%, 01/21/28 (Call 01/21/25)(d)(h) | 200 | 192,440 | ||||||
El Puerto de Liverpool SAB de CV, 3.88%, 10/06/26(b) | 200 | 215,038 | ||||||
FEL Energy VI Sarl, 5.75%, 12/01/40(b) | 200 | 207,938 | ||||||
Fomento Economico Mexicano SAB de CV | ||||||||
3.50%, 01/16/50 (Call 07/16/49) | 600 | 609,492 | ||||||
4.38%, 05/10/43 | 150 | 173,203 | ||||||
Fresnillo PLC, 4.25%, 10/02/50 (Call 04/02/50)(b)(h) | 200 | 195,913 | ||||||
Grupo Bimbo SAB de CV | ||||||||
4.00%, 09/06/49(b) | 200 | 200,350 | ||||||
4.70%, 11/10/47 (Call 05/10/47)(b) | 200 | 223,537 | ||||||
4.88%, 06/27/44(b) | 200 | 228,537 | ||||||
Grupo Televisa SAB | ||||||||
5.00%, 05/13/45 (Call 11/13/44)(h) | 400 | 459,600 | ||||||
5.25%, 05/24/49 (Call 11/24/48)(h) | 200 | 240,225 | ||||||
6.13%, 01/31/46 (Call 07/31/45) | 200 | 264,542 | ||||||
6.63%, 03/18/25 | 100 | 118,613 | ||||||
6.63%, 01/15/40(h) | 120 | 160,860 | ||||||
Industrias Penoles SAB de CV | ||||||||
4.15%, 09/12/29 (Call 06/12/29)(b) | 200 | 215,500 | ||||||
4.75%, 08/06/50 (Call 02/06/50)(b) | 200 | 205,500 | ||||||
5.65%, 09/12/49 (Call 03/12/49)(b) | 200 | 231,160 | ||||||
Infraestructura Energetica Nova SAB de CV | ||||||||
4.75%, 01/15/51 (Call 07/15/50)(b) | 200 | 197,000 | ||||||
4.88%, 01/14/48(b) | 200 | 200,940 | ||||||
Mexico Remittances Funding Fiduciary Estate Management Sarl, 4.88%, 01/15/28(d) | 200 | 187,250 | ||||||
Minera Mexico SA de CV, 4.50%, 01/26/50 (Call 07/26/49)(b) | 200 | 208,663 | ||||||
Nemak SAB de CV, 4.75%, 01/23/25 (Call 05/31/21)(b) | 200 | 205,850 | ||||||
Orbia Advance Corp. SAB de CV | ||||||||
4.00%, 10/04/27 (Call 07/04/27)(b) | 200 | 217,475 | ||||||
5.50%, 01/15/48 (Call 07/15/47)(b) | 400 | 453,700 | ||||||
Sigma Alimentos SA de CV, 4.13%, 05/02/26 (Call 02/02/26)(b) | 600 | 649,612 | ||||||
Southern Copper Corp. | ||||||||
3.88%, 04/23/25 | 300 | 326,962 | ||||||
5.25%, 11/08/42 | 400 | 484,830 | ||||||
5.88%, 04/23/45(h) | 300 | 393,619 | ||||||
6.75%, 04/16/40 | 400 | 552,180 | ||||||
7.50%, 07/27/35 | 200 | 285,200 | ||||||
Total Play Telecomunicaciones SA de CV, 7.50%, 11/12/25(b) . | 200 | 199,250 | ||||||
Trust Fibra Uno | ||||||||
4.87%, 01/15/30 (Call 10/30/29)(b) | 600 | 659,737 | ||||||
5.25%, 01/30/26 (Call 10/30/25)(b) | 200 | 224,225 | ||||||
6.39%, 01/15/50 (Call 07/15/49)(b) | 200 | 227,000 | ||||||
Unifin Financiera SAB de CV, 9.88%, 01/28/29 (Call 01/28/25)(b) | 200 | 196,330 | ||||||
|
| |||||||
18,716,307 | ||||||||
Morocco — 0.6% | ||||||||
OCP SA | ||||||||
4.50%, 10/22/25(b) | 800 | 849,150 | ||||||
5.63%, 04/25/24(b) | 625 | 678,438 | ||||||
6.88%, 04/25/44(b) | 400 | 482,075 | ||||||
|
| |||||||
2,009,663 |
Security | Par (000) | Value | ||||||
Nigeria — 0.4% | ||||||||
IHS Netherlands Holdco BV | ||||||||
7.13%, 03/18/25 (Call 09/18/21)(b) | $ | 400 | $ | 416,150 | ||||
8.00%, 09/18/27 (Call 09/18/22)(b) | 500 | 542,500 | ||||||
SEPLAT Petroleum Development Co. PLC, 7.75%, 04/01/26 (Call 04/01/23)(d) | 400 | 408,120 | ||||||
|
| |||||||
1,366,770 | ||||||||
Oman — 0.6% | ||||||||
Bank Muscat SAOG | ||||||||
4.75%, 03/17/26(b) | 400 | 414,875 | ||||||
4.88%, 03/14/23(b) | 200 | 209,000 | ||||||
National Bank of Oman SAOG, 5.63%, 09/25/23(b) | 400 | 419,325 | ||||||
Oztel Holdings SPC Ltd. | ||||||||
5.63%, 10/24/23(b) | 400 | 425,325 | ||||||
6.63%, 04/24/28(b) | 500 | 555,406 | ||||||
|
| |||||||
2,023,931 | ||||||||
Panama — 0.9% | ||||||||
AES Panama Generation Holdings SRL, 4.38%, 05/31/30 (Call 02/28/30)(b) | 800 | 826,660 | ||||||
Banco General SA, 4.13%, 08/07/27 | 600 | 650,925 | ||||||
C&W Senior Financing DAC | ||||||||
6.88%, 09/15/27 (Call 09/15/22)(b) | 600 | 637,500 | ||||||
7.50%, 10/15/26 (Call 10/15/21)(b)(h) | 200 | 212,000 | ||||||
Cable Onda SA, 4.50%, 01/30/30 (Call 01/30/25)(b) | 400 | 424,000 | ||||||
Sable International Finance Ltd., 5.75%, 09/07/27 (Call 09/07/22)(b) | 400 | 419,000 | ||||||
|
| |||||||
3,170,085 | ||||||||
Paraguay — 0.2% | ||||||||
Bioceanico Sovereign Certificate Ltd., 0.00%, 06/05/34(b)(j) | 295 | 215,144 | ||||||
Telefonica Celular del Paraguay SA, | 600 | 634,237 | ||||||
|
| |||||||
849,381 | ||||||||
Peru — 2.1% | ||||||||
Banco de Credito del Peru | ||||||||
2.70%, 01/11/25 (Call 12/11/24)(b)(h) | 800 | 813,000 | ||||||
3.13%, 07/01/30 (Call 07/01/25)(b)(g) | 600 | 590,250 | ||||||
3.25%, 09/30/31 (Call 09/30/26)(d)(g) | 200 | 195,250 | ||||||
4.25%, 04/01/23(b) | 100 | 104,125 | ||||||
Consorcio Transmantaro SA, 4.70%, 04/16/34(b)(h) | 400 | 429,250 | ||||||
Credicorp Ltd., 2.75%, 06/17/25 (Call 05/17/25)(b) | 400 | 397,400 | ||||||
Hunt Oil Co. of Peru LLC Sucursal Del Peru, 6.38%, 06/01/28(b) | 400 | 406,570 | ||||||
Inkia Energy Ltd., 5.88%, 11/09/27 | 400 | 400,000 | ||||||
InRetail Consumer, 3.25%, 03/22/28 | 400 | 380,660 | ||||||
Kallpa Generacion SA, 4.13%, 08/16/27 (Call 05/16/27)(b)(h) | 400 | 408,000 | ||||||
Lima Metro Line 2 Finance Ltd. | ||||||||
4.35%, 04/05/36(b) | 400 | 412,875 | ||||||
5.88%, 07/05/34(b)(h) | 411 | 469,729 | ||||||
Nexa Resources SA | ||||||||
5.38%, 05/04/27 (Call 02/04/27)(b) | 400 | 424,400 | ||||||
6.50%, 01/18/28 (Call 10/18/27)(b) | 400 | 446,000 | ||||||
Orazul Energy Egenor SCA, 5.63%, 04/28/27 (Call 04/28/22)(b) | 400 | 402,000 | ||||||
Peru LNG Srl, 5.38%, 03/22/30(b)(h) | 600 | 500,362 | ||||||
Transportadora de Gas del Peru SA, 4.25%, 04/30/28(b) | 400 | 431,000 | ||||||
|
| |||||||
7,210,871 | ||||||||
Philippines — 1.6% | ||||||||
Bank of the Philippine Islands, 4.25%, 09/04/23(b) | 400 | 430,325 | ||||||
BDO Unibank Inc. | ||||||||
2.13%, 01/13/26(b) | 600 | 608,062 | ||||||
2.95%, 03/06/23(b) | 200 | 206,850 |
22 | 2 0 2 1 I SHARES SEMI - ANNUAL REPORT TO SHAREHOLDERS |
Schedule of Investments (unaudited) (continued) April 30, 2021 | iShares® J.P. Morgan EM Corporate Bond ETF (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||
Philippines (continued) | ||||||||
JGSH Philippines Ltd., 4.13%, 07/09/30(b) | $ | 400 | $ | 425,700 | ||||
Jollibee Worldwide Pte Ltd., 3.90%, | 400 | 383,325 | ||||||
Manila Water Co. Inc., 4.38%, 07/30/30 (Call 07/30/25)(b) | 200 | 210,725 | ||||||
Metropolitan Bank & Trust Co., 2.13%, 01/15/26(b) | 400 | 406,875 | ||||||
Petron Corp., 4.60%, (Call 07/19/23)(b)(f)(g) | 200 | 200,163 | ||||||
Philippine National Bank, 3.28%, 09/27/24(b) | 600 | 630,487 | ||||||
San Miguel Crop., 5.50%, (Call 07/29/25)(b)(f)(g) | 400 | 417,000 | ||||||
SMC Global Power Holdings Corp. | ||||||||
5.70%, (Call 01/21/26)(b)(f)(g) | 400 | 407,075 | ||||||
5.95%, (Call 05/05/25)(b)(f)(g) | 400 | 408,200 | ||||||
6.50%, (Call 04/25/24)(b)(f)(g) | 300 | 308,775 | ||||||
7.00%, (Call 10/21/25)(b)(f)(g) | 600 | 636,675 | ||||||
|
| |||||||
5,680,237 | ||||||||
Qatar — 3.6% | ||||||||
.ABQ Finance Ltd. | ||||||||
1.88%, 09/08/25(b) | 400 | 399,375 | ||||||
3.13%, 09/24/24(b) | 400 | 419,875 | ||||||
AKCB Finance Ltd., 4.75%, 10/09/23(b) | 400 | 432,375 | ||||||
CBQ Finance Ltd. | ||||||||
2.00%, 09/15/25(b) | 400 | 402,875 | ||||||
5.00%, 05/24/23(b) | 200 | 215,850 | ||||||
Commercial Bank PSQC (The), 4.50%, (Call 03/03/26)(b)(f)(g) | 200 | 200,188 | ||||||
MAR Sukuk Ltd. | ||||||||
2.21%, 09/02/25(b) | 600 | 610,237 | ||||||
3.03%, 11/13/24(b) | 200 | 210,225 | ||||||
Nakilat Inc., 6.07%, 12/31/33(b) | 550 | 671,447 | ||||||
Ooredoo International Finance Ltd. | ||||||||
2.63%, 04/08/31(d) | 600 | 605,370 | ||||||
3.25%, 02/21/23(b) | 550 | 573,891 | ||||||
3.75%, 06/22/26(b) | 600 | 660,112 | ||||||
3.88%, 01/31/28(b) | 400 | 448,950 | ||||||
4.50%, 01/31/43(b) | 200 | 236,162 | ||||||
5.00%, 10/19/25(b) | 400 | 459,875 | ||||||
QIB Sukuk Ltd. | ||||||||
1.54%, 02/07/25, (3 mo. LIBOR US + | 400 | 402,700 | ||||||
1.95%, 10/27/25(b) | 600 | 602,362 | ||||||
3.98%, 03/26/24(b) | 600 | 646,425 | ||||||
QIIB Senior Sukuk Ltd., 4.26%, 03/05/24(b) | 200 | 215,688 | ||||||
QNB Finance Ltd. | ||||||||
1.38%, 01/26/26(b) | 600 | 589,312 | ||||||
1.63%, 09/22/25(b) | 400 | 399,624 | ||||||
2.63%, 05/12/25(b) | 800 | 833,750 | ||||||
2.75%, 02/12/27(b) | 700 | 726,819 | ||||||
3.50%, 03/28/24(b) | 600 | 639,300 | ||||||
Ras Laffan Liquefied Natural Gas Co. Ltd. III | ||||||||
5.84%, 09/30/27(b) | 481 | 548,818 | ||||||
6.33%, 09/30/27(b) | 513 | 592,291 | ||||||
|
| |||||||
12,743,896 | ||||||||
Russia — 4.6% | ||||||||
Alfa Bank AO Via Alfa Bond Issuance PLC | ||||||||
5.95%, 04/15/30 (Call 04/15/25)(b)(g) | 400 | 411,075 | ||||||
6.95%, (Call 04/30/23)(b)(f)(g) | 200 | 206,788 | ||||||
8.00%, (Call 02/03/22)(b)(f)(g) | 200 | 204,163 | ||||||
ALROSA Finance SA, 4.65%, 04/09/24 (Call 01/09/24)(b) | 400 | 425,075 | ||||||
Credit Bank of Moscow Via CBOM Finance PLC, 4.70%, 01/29/25(b) | 400 | 404,700 | ||||||
Eurochem Finance DAC, 5.50%, 03/13/24(b) | 400 | 434,000 | ||||||
Evraz PLC | ||||||||
5.25%, 04/02/24(b) | 400 | 430,460 | ||||||
5.38%, 03/20/23(b) | 200 | 211,975 |
Security | Par (000) | Value | ||||||
Russia (continued) | ||||||||
Gazprom Neft OAO Via GPN Capital SA, 6.00%, 11/27/23(b) | $ | 600 | $ | 657,487 | ||||
Gazprom PJSC Via Gaz Capital SA | ||||||||
4.95%, 02/06/28(b) | 3,000 | 3,313,050 | ||||||
7.29%, 08/16/37(b) | 500 | 693,062 | ||||||
8.63%, 04/28/34(b) | 450 | 666,084 | ||||||
Lukoil International Finance BV | ||||||||
4.56%, 04/24/23(b) | 200 | 211,163 | ||||||
4.75%, 11/02/26(b) | 800 | 887,400 | ||||||
Lukoil Securities BV, 3.88%, 05/06/30(b) | 400 | 418,875 | ||||||
Metalloinvest Finance DAC, 4.85%, 05/02/24(b) | 400 | 427,200 | ||||||
MMC Norilsk Nickel OJSC via MMC Finance DAC, 4.10%, 04/11/23 (Call 01/11/23)(b) | 300 | 311,055 | ||||||
MMC Norilsk Nickel OJSC Via MMC Finance DAC | ||||||||
2.55%, 09/11/25 (Call 06/11/25)(b) | 200 | 200,725 | ||||||
3.38%, 10/28/24 (Call 07/28/24)(b) | 400 | 414,950 | ||||||
MMK International Capital DAC, 4.38%, 06/13/24 | ||||||||
(Call 03/13/24)(b) | 200 | 213,288 | ||||||
Mobile Telesystems OJSC Via MTS International Funding DAC, 5.00%, 05/30/23(b) | 200 | 212,850 | ||||||
Novolipetsk Steel Via Steel Funding DAC | ||||||||
4.50%, 06/15/23(b) | 200 | 211,350 | ||||||
4.70%, 05/30/26 (Call 02/28/26)(b) | 400 | 435,950 | ||||||
Phosagro OAO Via Phosagro Bond Funding DAC, 3.05%, 01/23/25 (Call 10/23/24)(b) | 400 | 410,950 | ||||||
Polyus Finance PLC, 5.25%, 02/07/23(b) | 200 | 210,350 | ||||||
Sberbank of Russia Via SB Capital SA, 5.25%, 05/23/23(b) | 400 | 421,700 | ||||||
Severstal OAO Via Steel Capital SA, 3.15%, 09/16/24(b) | 400 | 412,575 | ||||||
TMK OAO Via TMK Capital SA, 4.30%, 02/12/27(b) | 200 | 201,100 | ||||||
VEON Holdings BV | ||||||||
3.38%, 11/25/27 (Call 08/25/27)(b) | 600 | 601,800 | ||||||
4.00%, 04/09/25 (Call 01/09/25)(b) | 600 | 629,062 | ||||||
4.95%, 06/16/24 (Call 03/16/24)(b) | 200 | 214,037 | ||||||
7.25%, 04/26/23 (Call 01/26/23)(b) | 200 | 216,350 | ||||||
VTB Bank PJSC Via VTB Eurasia DAC, 9.50%, (Call 12/06/22)(b)(g) | 800 | 860,900 | ||||||
|
| |||||||
16,181,549 | ||||||||
Saudi Arabia — 4.5% | ||||||||
Acwa Power Management And Investments One Ltd., 5.95%, 12/15/39(b) | 400 | 461,875 | ||||||
Almarai Sukuk Ltd., 4.31%, 03/05/24(b) | 200 | 215,600 | ||||||
Arab National Bank, 3.33%, 10/28/30 | 200 | 205,750 | ||||||
Arabian Centres Sukuk II Ltd., 5.63%, 10/07/26(d) | 200 | 205,437 | ||||||
Arabian Centres Sukuk Ltd., 5.38%, 11/26/24(b) | 300 | 309,900 | ||||||
Dar Al-Arkan Sukuk Co. Ltd., 6.88%, 03/21/23(b) | 400 | 420,200 | ||||||
Riyad Bank, 3.17%, 02/25/30 (Call 02/25/25)(b)(g) | 600 | 613,425 | ||||||
SABIC Capital I BV | ||||||||
2.15%, 09/14/30 (Call 06/14/30)(b) | 200 | 191,938 | ||||||
3.00%, 09/14/50 (Call 03/14/50)(b) | 200 | 183,688 | ||||||
SABIC Capital II BV | ||||||||
4.00%, 10/10/23(b) | 400 | 431,000 | ||||||
4.50%, 10/10/28(b) | 400 | 456,825 | ||||||
Samba Funding Ltd., 2.75%, 10/02/24(b) | 800 | 834,400 | ||||||
Saudi Arabian Oil Co. | ||||||||
1.63%, 11/24/25 (Call 10/24/25)(b) | 600 | 605,430 | ||||||
2.25%, 11/24/30 (Call 08/24/30)(b) | 800 | 770,900 | ||||||
3.25%, 11/24/50 (Call 05/24/50)(b) | 1,000 | 911,250 | ||||||
3.50%, 04/16/29(b) | 1,200 | 1,283,100 | ||||||
3.50%, 11/24/70 (Call 05/24/70)(b) | 1,000 | 907,300 | ||||||
4.25%, 04/16/39(b) | 1,200 | 1,307,100 | ||||||
4.38%, 04/16/49(b) | 1,200 | 1,317,000 |
SCHEDULE OF INVESTMENTS | 23 |
Schedule of Investments (unaudited) (continued) April 30, 2021 | iShares® J.P. Morgan EM Corporate Bond ETF (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||
Saudi Arabia (continued) | ||||||||
Saudi Electricity Global Sukuk Co. 2 | ||||||||
3.47%, 04/08/23(b) | $ | 200 | $ | 209,450 | ||||
5.06%, 04/08/43(b) | 400 | 470,700 | ||||||
Saudi Electricity Global Sukuk Co. 3 | ||||||||
4.00%, 04/08/24(b) | 400 | 431,875 | ||||||
5.50%, 04/08/44(b) | 400 | 498,450 | ||||||
Saudi Electricity Global Sukuk Co. 4 | ||||||||
4.22%, 01/27/24(b) | 400 | 434,825 | ||||||
4.72%, 09/27/28(b) | 600 | 702,487 | ||||||
Saudi Electricity Global Sukuk Co. 5 | ||||||||
1.74%, 09/17/25(b) | 400 | 401,375 | ||||||
2.41%, 09/17/30(b) | 400 | 401,950 | ||||||
Saudi Telecom Co., 3.89%, 05/13/29(b) | 400 | 440,450 | ||||||
|
| |||||||
15,623,680 | ||||||||
Singapore — 4.3% | ||||||||
BOC Aviation Ltd. | ||||||||
1.32%, 09/26/23 (Call 08/26/23), (3 mo. LIBOR US + 1.125%)(b)(g) | 400 | 399,316 | ||||||
2.63%, 09/17/30 (Call 06/17/30)(b)(h) | 400 | 386,325 | ||||||
3.00%, 09/11/29 (Call 06/11/29)(b) | 500 | 497,750 | ||||||
3.25%, 04/29/25 (Call 03/29/25)(b) | 600 | 625,800 | ||||||
3.50%, 10/10/24 (Call 09/10/24)(b) | 400 | 425,075 | ||||||
3.50%, 09/18/27 (Call 06/18/27)(b) | 600 | 634,875 | ||||||
3.88%, 04/27/26 (Call 01/27/26)(b)(h) | 500 | 537,438 | ||||||
4.00%, 01/25/24 (Call 12/25/23)(b) | 400 | 425,450 | ||||||
DBS Group Holdings Ltd. | ||||||||
3.30%, (Call 02/27/25)(b)(f)(g) | 400 | 409,375 | ||||||
3.60%, (Call 09/07/21)(b)(f)(g) | 800 | 805,400 | ||||||
4.52%, 12/11/28 (Call 12/11/23)(b)(g) | 400 | 432,748 | ||||||
Flex Ltd. | ||||||||
3.75%, 02/01/26 (Call 01/01/26) | 500 | 541,806 | ||||||
4.75%, 06/15/25 (Call 03/15/25)(h) | 510 | 569,128 | ||||||
4.88%, 06/15/29 (Call 03/15/29) | 350 | 398,545 | ||||||
4.88%, 05/12/30 (Call 02/12/30)(h) | 400 | 460,176 | ||||||
GLP Pte Ltd., 3.88%, 06/04/25(b) | 625 | 653,633 | ||||||
Olam International Ltd., 5.35%, | 300 | 300,056 | ||||||
Oversea-Chinese Banking Corp. Ltd. | ||||||||
1.83%, 09/10/30 (Call 09/10/25)(b)(g) | 600 | 597,030 | ||||||
4.25%, 06/19/24(b) | 600 | 655,425 | ||||||
Singapore Airlines Ltd., 3.00%, 07/20/26 (Call 06/20/26)(b) | 200 | 203,141 | ||||||
Singapore Telecommunications Ltd., 7.38%, 12/01/31(b) | 300 | 432,342 | ||||||
SingTel Group Treasury Pte Ltd. | ||||||||
1.88%, 06/10/30 (Call 03/10/30)(b) | 400 | 387,084 | ||||||
2.38%, 10/03/26(b) | 400 | 420,075 | ||||||
2.38%, 08/28/29 (Call 05/28/29)(b) | 400 | 405,075 | ||||||
3.25%, 06/30/25(b) | 300 | 323,925 | ||||||
3.88%, 08/28/28 (Call 05/28/28)(b) | 200 | 222,739 | ||||||
ST Engineering RHQ Ltd., 1.50%, 04/29/25 (Call 01/29/25)(b) . | 400 | 403,325 | ||||||
United Overseas Bank Ltd. | ||||||||
1.25%, 04/14/26(d) | 400 | 398,968 | ||||||
1.75%, 03/16/31 (Call 03/16/26)(b)(g) | 200 | 197,512 | ||||||
2.00%, 10/14/31 (Call 10/14/26)(d)(g) | 200 | 198,736 | ||||||
2.88%, 03/08/27 (Call 03/08/22)(b)(g) | 400 | 405,075 | ||||||
3.50%, 09/16/26 (Call 09/16/21)(b)(g) | 400 | 403,325 | ||||||
3.75%, 04/15/29 (Call 04/15/24)(b)(g)(h) | 400 | 426,575 | ||||||
3.88%, (Call 10/19/23)(b)(f)(g) | 400 | 412,825 | ||||||
|
| |||||||
14,996,073 | ||||||||
South Africa — 1.5% | ||||||||
AngloGold Ashanti Holdings PLC, 3.75%, 10/01/30 (Call 07/01/30)(h) | 400 | 414,960 |
Security | Par (000) | Value | ||||||
South Africa (continued) | ||||||||
FirstRand Bank Ltd., 6.25%, 04/23/28 | $ | 200 | $ | 211,663 | ||||
Gold Fields Orogen Holdings BVI Ltd. | ||||||||
5.13%, 05/15/24 (Call 04/15/24)(b) | 400 | 435,200 | ||||||
6.13%, 05/15/29 (Call 02/15/29)(b) | 200 | 235,725 | ||||||
Liquid Telecommunications Financing PLC, 5.50%, 09/04/26 (Call 03/04/23)(d) | 400 | 421,875 | ||||||
MTN Mauritius Investments Ltd. | ||||||||
4.76%, 11/11/24(b) | 450 | 475,537 | ||||||
6.50%, 10/13/26(b) | 400 | 452,450 | ||||||
Sasol Financing USA LLC | ||||||||
4.38%, 09/18/26 (Call 08/18/26) | 400 | 406,000 | ||||||
5.50%, 03/18/31 (Call 03/18/30) | 500 | 508,025 | ||||||
5.88%, 03/27/24 (Call 02/27/24) | 1,200 | 1,273,350 | ||||||
6.50%, 09/27/28 (Call 06/27/28) | 400 | 441,380 | ||||||
|
| |||||||
5,276,165 | ||||||||
South Korea — 4.2% | ||||||||
Hanwha Life Insurance Co. Ltd., 4.70%, (Call 04/23/23)(b)(f)(g) . | 400 | 416,450 | ||||||
Heungkuk Life Insurance Co. Ltd., 4.48%, (Call 11/09/22)(b)(f)(g) | 200 | 202,413 | ||||||
Hyundai Capital Services Inc. | ||||||||
1.25%, 02/08/26(d) | 200 | 195,746 | ||||||
3.75%, 03/05/23(b) | 400 | 420,200 | ||||||
Kia Corp., 3.00%, 04/25/23(b) | 400 | 415,575 | ||||||
Kookmin Bank 1.75%, 05/04/25(b) | 400 | 407,160 | ||||||
2.50%, 11/04/30(b)(h) | 200 | 195,034 | ||||||
2.88%, 03/25/23(b) | 200 | 208,322 | ||||||
4.35%, (Call 07/02/24)(b)(f)(g) | 200 | 210,663 | ||||||
Korea East-West Power Co. Ltd., 1.75%, 05/06/25(b) | 600 | 610,800 | ||||||
Korea Electric Power Corp. | ||||||||
1.13%, 06/15/25(b) | 400 | 399,075 | ||||||
2.50%, 06/24/24(b) | 200 | 211,288 | ||||||
Korea Gas Corp. | ||||||||
2.88%, 07/16/29(b) | 200 | 211,225 | ||||||
3.50%, 07/21/25(b) | 200 | 219,287 | ||||||
3.50%, 07/02/26(b) | 200 | 222,537 | ||||||
3.88%, 02/12/24(b) | 200 | 217,975 | ||||||
6.25%, 01/20/42(b) | 600 | 872,737 | ||||||
Korea Hydro & Nuclear Power Co. Ltd., 3.75%, 07/25/23(b) | 400 | 428,325 | ||||||
Kyobo Life Insurance Co. Ltd., 3.95%, | 200 | 204,288 | ||||||
LG Chem Ltd. | ||||||||
3.25%, 10/15/24(b) | 400 | 431,000 | ||||||
3.63%, 04/15/29(b) | 200 | 216,725 | ||||||
NongHyup Bank | ||||||||
1.25%, 07/20/25(b) | 400 | 399,640 | ||||||
3.88%, 07/30/23(b) | 200 | 214,162 | ||||||
POSCO, 2.75%, 07/15/24(b) | 600 | 632,737 | ||||||
Shinhan Bank Co. Ltd. 1.38%, 10/21/26(d) | 200 | 199,800 | ||||||
1.88%, 04/24/25, (3 mo. LIBOR US + 1.700%)(b)(g) | 200 | 208,288 | ||||||
3.88%, 11/05/23(b) | 400 | 431,545 | ||||||
3.88%, 03/24/26(b) | 200 | 218,346 | ||||||
3.88%, 12/07/26 (Call 12/07/21)(b)(g) | 400 | 405,575 | ||||||
Shinhan Financial Group Co. Ltd. | ||||||||
1.35%, 01/10/26(b)(h) | 400 | 397,664 | ||||||
3.34%, 02/05/30 (Call 02/05/25)(b)(g) | 200 | 209,038 | ||||||
5.88%, (Call 08/13/23)(b)(f)(g) | 200 | 216,037 | ||||||
SK Battery America Inc., 2.13%, 01/26/26(b) | 400 | 393,872 | ||||||
SK Hynix Inc. | ||||||||
1.00%, 01/19/24(d) | 200 | 199,814 |
24 | 2 0 2 1 I SHARES SEMI - ANNUAL REPORT TO SHAREHOLDERS |
Schedule of Investments (unaudited) (continued) April 30, 2021 | iShares® J.P. Morgan EM Corporate Bond ETF (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||
South Korea (continued) | ||||||||
1.50%, 01/19/26(d) | $ | 400 | $ | 396,034 | ||||
2.38%, 01/19/31(d) | 500 | 478,604 | ||||||
3.00%, 09/17/24(b) | 600 | 636,300 | ||||||
SK Innovation Co. Ltd., 4.13%, 07/13/23(b) | 200 | 210,972 | ||||||
SK Telecom Co. Ltd., 3.75%, 04/16/23(b) | 200 | 211,690 | ||||||
Woori Bank | ||||||||
4.25%, (Call 10/04/24)(b)(f)(g) | 600 | 623,362 | ||||||
4.50%, (Call 09/27/21)(b)(f)(g) | 600 | 607,050 | ||||||
5.25%, (Call 05/16/22)(b)(f)(g) | 400 | 412,200 | ||||||
|
| |||||||
14,619,555 | ||||||||
Taiwan — 1.7% | ||||||||
Competition Team Technologies Ltd., 3.75%, 03/12/24(b) | 600 | 645,113 | ||||||
Formosa Group Cayman Ltd., 3.38%, 04/22/25(b) | 400 | 422,575 | ||||||
Foxconn Far East Ltd. | ||||||||
1.63%, 10/28/25(b) | 600 | 602,666 | ||||||
2.50%, 10/28/30(b) | 400 | 390,700 | ||||||
TSMC Global Ltd. | ||||||||
0.75%, 09/28/25(b) | 600 | 585,948 | ||||||
1.00%, 09/28/27(b) | 600 | 578,108 | ||||||
1.25%, 04/23/26 (Call 03/23/26)(d) | 600 | 598,350 | ||||||
1.38%, 09/28/30(b) | 800 | 739,344 | ||||||
1.75%, 04/23/28 (Call 02/23/28)(d) | 400 | 395,896 | ||||||
2.25%, 04/23/31 (Call 01/23/31)(d) | 1,000 | 991,070 | ||||||
|
| |||||||
5,949,770 | ||||||||
Thailand — 2.1% | ||||||||
Bangkok Bank PCL/Hong Kong | ||||||||
3.73%, 09/25/34 (Call 09/25/29)(b)(g) | 1,000 | 1,016,437 | ||||||
4.05%, 03/19/24(b) | 600 | 650,362 | ||||||
4.45%, 09/19/28(b) | 200 | 226,287 | ||||||
5.00%, 10/03/23(b) | 200 | 220,038 | ||||||
5.00%, 12/31/49(b) | 400 | 420,450 | ||||||
GC Treasury Center Co. Ltd. | ||||||||
2.98%, 03/18/31 (Call 12/18/30)(d) | 400 | 397,860 | ||||||
4.30%, 03/18/51 (Call 09/18/50)(d)(h) | 400 | 413,340 | ||||||
Kasikornbank PCL/Hong Kong | ||||||||
3.34%, 10/02/31 (Call 10/02/26)(b)(g) | 600 | 613,237 | ||||||
5.28%, (Call 10/14/25)(b)(f)(g) | 200 | 210,163 | ||||||
PTT Treasury Center Co. Ltd., 3.70%, 07/16/70 (Call 01/16/70)(b)(h) | 400 | 376,950 | ||||||
PTTEP Treasury Center Co. Ltd. | ||||||||
2.59%, 06/10/27 (Call 04/10/27)(b) | 400 | 412,450 | ||||||
3.90%, 12/06/59(b) | 400 | 402,825 | ||||||
Siam Commercial Bank PCL/Cayman Islands | ||||||||
2.75%, 05/16/23(b) | 200 | 207,600 | ||||||
3.90%, 02/11/24(b) | 200 | 214,913 | ||||||
4.40%, 02/11/29(b) | 400 | 449,450 | ||||||
Thaioil Treasury Center Co. Ltd. | ||||||||
3.50%, 10/17/49(b) | 400 | 347,950 | ||||||
3.75%, 06/18/50(b) | 400 | 363,360 | ||||||
5.38%, 11/20/48(b) | 400 | 458,325 | ||||||
|
| |||||||
7,401,997 | ||||||||
Togo — 0.1% | ||||||||
Ecobank Transnational Inc., 9.50%, 04/18/24(b) | 200 | 213,663 | ||||||
|
| |||||||
Turkey — 3.4% | ||||||||
Akbank T.A.S., 6.80%, 02/06/26(b) | 400 | 412,825 | ||||||
Akbank TAS | ||||||||
5.13%, 03/31/25(b) | 400 | 396,825 | ||||||
7.20%, 03/16/27 (Call 03/16/22)(b)(g) | 200 | 200,788 | ||||||
Arcelik AS, 5.00%, 04/03/23(b) | 200 | 206,350 |
Security | Par (000) | Value | ||||||
Turkey (continued) | ||||||||
Coca-Cola Icecek AS, 4.22%, 09/19/24 (Call 06/19/24)(b) | $ | 600 | $ | 626,175 | ||||
KOC Holding AS | ||||||||
5.25%, 03/15/23 (Call 12/15/22)(b) | 600 | 613,050 | ||||||
6.50%, 03/11/25 (Call 12/11/24)(b) | 400 | 427,950 | ||||||
Mersin Uluslararasi Liman Isletmeciligi AS, 5.38%, 11/15/24 (Call 11/15/22)(b) | 500 | 526,969 | ||||||
QNB Finansbank AS, 6.88%, 09/07/24(b) | 400 | 422,575 | ||||||
Turk Telekomunikasyon AS | ||||||||
4.88%, 06/19/24(b) | 400 | 412,375 | ||||||
6.88%, 02/28/25(b) | 200 | 217,850 | ||||||
Turkcell Iletisim Hizmetleri AS | ||||||||
5.75%, 10/15/25(b) | 200 | 213,162 | ||||||
5.80%, 04/11/28 (Call 01/11/28)(b) | 400 | 417,875 | ||||||
Turkiye Garanti Bankasi AS | ||||||||
5.88%, 03/16/23(b) | 200 | 206,850 | ||||||
6.13%, 05/24/27 (Call 05/24/22)(b)(g) | 600 | 595,237 | ||||||
Turkiye Is Bankasi AS | ||||||||
6.13%, 04/25/24(b) | 800 | 814,650 | ||||||
7.00%, 06/29/28 (Call 06/29/23)(b)(g) | 400 | 398,825 | ||||||
7.75%, 01/22/30 (Call 01/22/25)(b)(g) | 500 | 502,906 | ||||||
Turkiye Petrol Rafinerileri AS, 4.50%, 10/18/24 (Call 07/20/24)(b) | 400 | 392,700 | ||||||
Turkiye Sise ve Cam Fabrikalari AS, 6.95%, 03/14/26 (Call 12/14/25)(b) | 400 | 441,075 | ||||||
Turkiye Vakiflar Bankasi TAO | ||||||||
5.25%, 02/05/25(b) | 400 | 389,575 | ||||||
6.50%, 01/08/26(b) | 400 | 398,875 | ||||||
8.13%, 03/28/24(b) | 400 | 423,325 | ||||||
Ulker Biskuvi Sanayi AS, 6.95%, 10/30/25(b) | 400 | 432,450 | ||||||
Yapi ve Kredi Bankasi AS | ||||||||
5.85%, 06/21/24(b) | 200 | 201,788 | ||||||
6.10%, 03/16/23(b) | 200 | 204,162 | ||||||
7.88%, 01/22/31 (Call 01/22/26)(d)(g)(h) | 400 | 400,875 | ||||||
8.25%, 10/15/24(b) | 400 | 427,875 | ||||||
13.88%, (Call 01/15/24)(b)(f)(g) | 400 | 448,875 | ||||||
|
| |||||||
11,774,812 | ||||||||
Ukraine — 0.4% | ||||||||
Metinvest BV | ||||||||
7.75%, 10/17/29(b) | 200 | 212,975 | ||||||
8.50%, 04/23/26 (Call 01/23/26)(b) | 400 | 439,200 | ||||||
MHP Lux SA, 6.95%, 04/03/26(b) | 400 | 409,700 | ||||||
MHP SE, 7.75%, 05/10/24(b) | 400 | 420,950 | ||||||
|
| |||||||
1,482,825 | ||||||||
United Arab Emirates — 4.7% | ||||||||
Abu Dhabi Commercial Bank PJSC, 4.00%, 03/13/23(b) | 400 | 423,950 | ||||||
Abu Dhabi National Energy Co. PJSC | ||||||||
3.40%, 04/29/51 (Call 10/29/50)(d) | 200 | 201,500 | ||||||
3.88%, 05/06/24(b) | 200 | 216,787 | ||||||
4.00%, 10/03/49(b) | 200 | 220,662 | ||||||
4.38%, 04/23/25(b) | 200 | 223,287 | ||||||
4.38%, 06/22/26(b) | 400 | 454,825 | ||||||
4.88%, 04/23/30(b) | 400 | 477,075 | ||||||
6.50%, 10/27/36(b) | 300 | 421,931 | ||||||
ADCB Finance Cayman Ltd., 4.00%, 03/29/23(b) | 200 | 211,600 | ||||||
ADIB Capital Invest 2 Ltd., 7.13%, | 200 | 218,537 | ||||||
AHB Sukuk Co. Ltd., 4.38%, 09/19/23(b) | 200 | 216,225 | ||||||
Aldar Sukuk Ltd., 4.75%, 09/29/25(b) | 200 | 223,412 | ||||||
Aldar Sukuk No. 2 Ltd., 3.88%, 10/22/29(b) | 200 | 215,163 | ||||||
BOS Funding Ltd., 4.00%, 09/18/24(b) | 200 | 207,850 |
SCHEDULE OF INVESTMENTS | 25 |
Schedule of Investments (unaudited) (continued) April 30, 2021 | iShares® J.P. Morgan EM Corporate Bond ETF (Percentages shown are based on Net Assets) |
Security |
Par | Value | ||||||
United Arab Emirates (continued) | ||||||||
Commercial Bank of Dubai PSC, 6.00%, (Call 04/21/26)(b)(f)(g) | $ | 200 | $ | 212,438 | ||||
DIB Sukuk Ltd. | ||||||||
2.95%, 02/20/25(b) | 200 | 209,288 | ||||||
2.95%, 01/16/26(b) | 600 | 627,112 | ||||||
3.63%, 02/06/23(b) | 400 | 416,875 | ||||||
DIB Tier 1 Sukuk 3 Ltd., | 200 | 218,437 | ||||||
DIB Tier 1 Sukuk 4 Ltd., | 400 | 419,875 | ||||||
EI Sukuk Co. Ltd., 1.83%, 09/23/25(b) | 200 | 199,188 | ||||||
Emaar Sukuk Ltd. | ||||||||
3.64%, 09/15/26(b) | 200 | 205,600 | ||||||
3.88%, 09/17/29(b) | 200 | 202,288 | ||||||
EMG Sukuk Ltd., 4.56%, 06/18/24(b) | 200 | 213,975 | ||||||
EMG SUKUK Ltd., 4.56%, 06/18/24(b) | 200 | 213,975 | ||||||
Emirates NBD Bank PJSC | ||||||||
1.64%, 01/13/26(b) | 400 | 399,375 | ||||||
6.13%, (Call 03/20/25)(b)(f)(g) | 400 | 428,375 | ||||||
6.13%, (Call 04/09/26)(b)(f)(g) | 200 | 218,787 | ||||||
Emirates Telecommunications Group Co. PJSC, 3.50%, 06/18/24(b) | 200 | 215,350 | ||||||
Esic Sukuk Ltd., 3.94%, 07/30/24(b) | 200 | 207,975 | ||||||
Fab Sukuk Co. Ltd. | ||||||||
2.50%, 01/21/25(b) | 200 | 208,038 | ||||||
3.63%, 03/05/23(b) | 200 | 210,350 | ||||||
3.88%, 01/22/24(b) | 400 | 429,375 | ||||||
First Abu Dhabi Bank PJSC | ||||||||
1.10%, 07/08/24, (3 mo. LIBOR US + | 400 | 401,375 | ||||||
4.50%, (Call 04/05/26)(b)(f)(g) | 400 | 424,875 | ||||||
Galaxy Pipeline Assets Bidco Ltd. | ||||||||
1.75%, 09/30/27(b) | 400 | 402,875 | ||||||
2.16%, 03/31/34(d) | 600 | 588,000 | ||||||
2.63%, 03/31/36(b) | 800 | 776,000 | ||||||
2.94%, 09/30/40(d) | 600 | 583,800 | ||||||
3.25%, 09/30/40(b) | 400 | 389,500 | ||||||
GEMS MENASA Cayman Ltd./GEMS Education Delaware LLC, 7.13%, 07/31/26 | 400 | 419,000 | ||||||
MAF Global Securities Ltd. | ||||||||
4.75%, 05/07/24(b) | 400 | 436,375 | ||||||
5.50%, (Call 09/07/22)(b)(f)(g) | 200 | 205,538 | ||||||
MAF Sukuk Ltd. | ||||||||
3.93%, 02/28/30(b) | 200 | 214,663 | ||||||
4.64%, 05/14/29(b) | 200 | 223,975 | ||||||
Mashreqbank PSC, 4.25%, 02/26/24(b) | 200 | 214,475 | ||||||
National Central Cooling Co. PJSC, 2.50%, 10/21/27(b) | 200 | 197,350 | ||||||
Noor Sukuk Co. Ltd., 4.47%, 04/24/23(b) | 200 | 212,350 | ||||||
Rakfunding Cayman Ltd., 4.13%, 04/09/24(b) | 200 | 213,913 | ||||||
Ruwais Power Co. PJSC, 6.00%, 08/31/36(b) | 200 | 260,000 | ||||||
Shelf Drilling Holdings Ltd., 8.25%, 02/15/25(b) | 300 | 222,000 | ||||||
SIB Sukuk Co. III Ltd. | ||||||||
2.85%, 06/23/25(b) | 200 | 208,850 | ||||||
4.23%, 04/18/23(b) | 200 | 212,038 | ||||||
Tabreed Sukuk Spc Ltd., 5.50%, 10/31/25(b) | 200 | 228,687 | ||||||
|
| |||||||
16,425,119 | ||||||||
United Kingdom — 0.1% | ||||||||
CK Hutchison International 21 Ltd. | ||||||||
1.50%, 04/15/26 (Call 03/15/26)(d) | 200 | 200,296 | ||||||
2.50%, 04/15/31 (Call 01/15/31)(d) | 200 | 198,612 | ||||||
|
| |||||||
398,908 | ||||||||
United States — 0.1% | ||||||||
Playtika Holding Corp., 4.25%, 03/15/29 (Call 03/15/24)(d) | 400 | 396,500 | ||||||
|
|
Security | Par/ Shares (000) | Value | ||||||
Vietnam — 0.1% | ||||||||
Mong Duong Finance Holdings BV, 5.13%, 05/07/29 (Call 05/07/23)(b) | $ | 500 | $ | 503,688 | ||||
|
| |||||||
Zambia — 1.2% | ||||||||
First Quantum Minerals Ltd. | ||||||||
6.50%, 03/01/24 (Call 05/10/21)(b) | 400 | 410,500 | ||||||
6.88%, 03/01/26 (Call 05/10/21)(b) | 600 | 629,175 | ||||||
6.88%, 10/15/27 (Call 10/15/23)(b) | 1,200 | 1,311,000 | ||||||
7.25%, 04/01/23 (Call 05/10/21)(b) | 1,000 | 1,016,250 | ||||||
7.50%, 04/01/25 (Call 05/10/21)(b) | 800 | 830,500 | ||||||
|
| |||||||
4,197,425 | ||||||||
|
| |||||||
Total Corporate Bonds & Notes — 97.4% |
| 340,334,226 | ||||||
|
| |||||||
Foreign Government Obligations(a) |
| |||||||
Nigeria — 0.4% | ||||||||
Africa Finance Corp. | ||||||||
3.13%, 06/16/25(b) | 400 | 411,375 | ||||||
3.75%, 10/30/29(b) | 400 | 414,875 | ||||||
3.88%, 04/13/24(b) | 400 | 422,375 | ||||||
4.38%, 04/17/26(b) | 200 | 216,500 | ||||||
|
| |||||||
1,465,125 | ||||||||
South Korea — 0.0% | ||||||||
Industrial Bank of Korea, 1.04%, 06/22/25(b) | 200 | 197,758 | ||||||
|
| |||||||
Supranational — 0.5% | ||||||||
Africa Finance Corp., 2.88%, 04/28/28(d) | 200 | 198,188 | ||||||
African Export-Import Bank (The) | ||||||||
3.99%, 09/21/29 (Call 06/23/29)(b) | 800 | 834,750 | ||||||
5.25%, 10/11/23(b) | 600 | 647,062 | ||||||
|
| |||||||
1,680,000 | ||||||||
|
| |||||||
Total Foreign Government Obligations — 0.9% |
| 3,342,883 | ||||||
|
| |||||||
Short-Term Investments |
| |||||||
Money Market Funds — 8.4% | ||||||||
BlackRock Cash Funds: Institutional, SL Agency Shares, 0.08%(l)(m)(n) | 24,788 | 24,800,069 | ||||||
BlackRock Cash Funds: Treasury, SL Agency Shares, 0.00%(l)(m) | 4,387 | 4,387,000 | ||||||
|
| |||||||
29,187,069 | ||||||||
|
| |||||||
Total Short-Term Investments — 8.4% |
| 29,187,069 | ||||||
|
| |||||||
Total Investments in Securities — 106.7% |
| 372,864,178 | ||||||
Other Assets, Less Liabilities — (6.7)% |
| (23,378,454 | ) | |||||
|
| |||||||
Net Assets — 100.0% |
| $ | 349,485,724 | |||||
|
|
(a) | U.S. dollar denominated security issued by foreign domiciled entity. |
(b) | This security may be resold to qualified foreign investors and foreign institutional buyers under Regulation S of the Securities Act of 1933. |
(c) | Issuer filed for bankruptcy and/or is in default. |
(d) | Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration to qualified institutional investors. |
26 | 2 0 2 1 I SHARES SEMI - ANNUAL REPORT TO SHAREHOLDERS |
Schedule of Investments (unaudited) (continued) April 30, 2021 | iShares® J.P. Morgan EM Corporate Bond ETF |
(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) | Perpetual security with no stated maturity date. |
(g) | Variable rate security. Interest rate resets periodically. The rate shown is the effective interest rate as of period end. Security description also includes the reference rate and spread if published and available. |
(h) | All or a portion of this security is on loan. |
(i) | Payment-in-kind (“PIK”) bond which gives the issuer an option to make coupon payments in cash or in the form of additional bonds. Stated interest rate represents the cash coupon rate. |
(j) | Zero-coupon bond. |
(k) | When-issued security. |
(l) | Affiliate of the Fund. |
(m) | Annualized 7-day yield as of period-end. |
(n) | All or a portion of this security was purchased with cash collateral received from loaned securities. |
Affiliates
Investments in issuers considered to be affiliate(s) of the Fund during the six months ended April 30, 2021 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:
| ||||||||||||||||||||||||||||||||||||||||
Affiliated Issuer | Value at 10/31/20 | Purchases at Cost | Proceeds from Sales | Net Realized Gain (Loss) | Change in Unrealized Appreciation (Depreciation) | Value at 04/30/21 | Shares Held at 04/30/21 (000) | Income | Capital Gain Distributions from Underlying Funds | |||||||||||||||||||||||||||||||
| ||||||||||||||||||||||||||||||||||||||||
BlackRock Cash Funds: Institutional, SL Agency Shares | $ | 11,553,871 | $ | 13,250,756 | (a) | $ | — | $ | (1,272 | ) | $ | (3,286 | ) | $ | 24,800,069 | 24,788 | $ | 31,198 | (b) | $ | — | |||||||||||||||||||
BlackRock Cash Funds: Treasury, SL Agency Shares | 2,577,000 | 1,810,000 | (a) | — | — | — | 4,387,000 | 4,387 | 262 | — | ||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||||||||||||||||||||||
$ | (1,272 | ) | $ | (3,286 | ) | $ | 29,187,069 | $ | 31,460 | $ | — | |||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
(a) | Represents net amount purchased (sold). |
(b) | All or a portion represents securities lending income earned from the reinvestment of cash collateral from loaned securities, net of fees and collateral investment expenses, and other payments to and from borrowers of securities. |
Fair Value Measurements
Various inputs are used in determining the fair value of financial instruments. For description of the input levels and information about the Fund’s policy regarding valuation of financial instruments, refer to the Notes to Financial Statements.
The following table summarizes the value of the Fund’s investments according to the fair value hierarchy as of April 30, 2021. The breakdown of the Fund’s investments into major categories is disclosed in the Schedule of Investments above.
| ||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
| ||||||||||||||||
Investments | ||||||||||||||||
Assets | ||||||||||||||||
Corporate Bonds & Notes | $ | — | $ | 340,334,226 | $ | — | $ | 340,334,226 | ||||||||
Foreign Government Obligations | — | 3,342,883 | — | 3,342,883 | ||||||||||||
Money Market Funds | 29,187,069 | — | — | 29,187,069 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
$ | 29,187,069 | $ | 343,677,109 | $ | — | $ | 372,864,178 | |||||||||
|
|
|
|
|
|
|
|
See notes to financial statements.
SCHEDULE OF INVESTMENTS | 27 |
Schedule of Investments (unaudited) April 30, 2021 | iShares® J.P. Morgan EM High Yield Bond ETF (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||
Corporate Bonds & Notes(a) |
| |||||||
Argentina — 0.9% | ||||||||
Agua y Saneamientos Argentinos SA, 6.63%, 02/01/23 (Call 05/10/21)(b) | $ | 150 | $ | 72,872 | ||||
Arcor SAIC, 6.00%, 07/06/23 (Call 07/06/21)(b) | 300 | 286,463 | ||||||
Arcos Dorados Holdings Inc., 5.88%, 04/04/27 (Call 04/04/22)(b) | 200 | 210,788 | ||||||
MercadoLibre Inc., 3.13%, 01/14/31 (Call 10/14/30) | 400 | 381,100 | ||||||
MSU Energy SA/UGEN SA/UENSA SA, 6.88%, 02/01/25 (Call 02/01/22)(b) | 300 | 204,249 | ||||||
Pampa Energia SA, 7.50%, 01/24/27 (Call 01/24/22)(b) | 400 | 326,400 | ||||||
Transportadora de Gas del Sur SA, | 300 | 260,306 | ||||||
YPF SA | ||||||||
1.50%, 09/30/33 (Call 03/30/33)(c)(d) | 300 | 133,275 | ||||||
2.50%, 06/30/29 (Call 12/30/28)(c)(d) | 200 | 107,500 | ||||||
4.00%, 02/12/26 (Call 11/12/25)(c)(d) | 200 | 160,540 | ||||||
6.95%, 07/21/27(b) | 500 | 303,125 | ||||||
7.00%, 12/15/47 (Call 06/15/47)(b) | 300 | 167,775 | ||||||
8.50%, 07/28/25(b) | 650 | 463,937 | ||||||
8.75%, 04/04/24(b) | 541 | 438,311 | ||||||
YPF Socidad Anonima, 2.50%, 06/30/29 (Call 12/30/28) | 100 | 53,750 | ||||||
YPF Sociedad Anonima, 4.00%, 02/12/26 (Call 11/12/25) | 100 | 80,270 | ||||||
|
| |||||||
3,650,661 | ||||||||
Azerbaijan — 0.4% | ||||||||
International Bank of Azerbaijan OJSC, 3.50%, 09/01/24(b) | 550 | 544,328 | ||||||
Southern Gas Corridor CJSC, 6.88%, 03/24/26(b) | 1,000 | 1,200,813 | ||||||
|
| |||||||
1,745,141 | ||||||||
Bahrain — 0.3% | ||||||||
BBK BSC, 5.50%, 07/09/24(b) | 200 | 210,600 | ||||||
GFH Sukuk Ltd., 7.50%, 01/28/25(b) | 200 | 196,000 | ||||||
Oil and Gas Holding Co. BSCC (The), 7.50%, 10/25/27(b) | 600 | 671,175 | ||||||
|
| |||||||
1,077,775 | ||||||||
Brazil — 11.4% | ||||||||
Adecoagro SA, 6.00%, 09/21/27 (Call 09/21/22) | 200 | 209,625 | ||||||
Amaggi Luxembourg International Sarl, 5.25%, 01/28/28 (Call 01/28/25)(c) | 400 | 416,350 | ||||||
Atento Luxco 1 SA, 8.00%, 02/10/26 (Call 02/10/24) | 200 | 217,287 | ||||||
B2W Digital Lux Sarl, 4.38%, 12/20/30 (Call 09/20/30)(b) | 400 | 393,200 | ||||||
Banco Bradesco SA/Cayman Islands, 3.20%, 01/27/25(b) | 400 | 408,500 | ||||||
Banco BTG Pactual SA/Cayman Islands | ||||||||
2.75%, 01/11/26 (Call 12/11/25)(b) | 200 | 189,438 | ||||||
4.50%, 01/10/25 (Call 12/10/24)(b) | 600 | 615,487 | ||||||
7.75%, 02/15/29 (Call 02/15/24)(b)(e) | 200 | 211,537 | ||||||
Banco do Brasil SA/Cayman | ||||||||
4.63%, 01/15/25(b) | 600 | 640,350 | ||||||
4.75%, 03/20/24(b) | 400 | 427,400 | ||||||
4.88%, 04/19/23(b) | 400 | 425,450 | ||||||
6.25%, (Call 04/15/24)(b)(e)(f) | 1,000 | 988,750 | ||||||
9.00%, (Call 06/18/24)(b)(e)(f) | 1,200 | 1,312,350 | ||||||
9.25%, 12/31/49 (Call 04/15/23)(b) | 600 | 650,175 | ||||||
Banco Safra SA/Cayman Islands, 4.13%, 02/08/23(b) | 200 | 207,400 | ||||||
Banco Votorantim SA, 4.38%, 07/29/25(b) | 400 | 416,188 | ||||||
Braskem America Finance Co., 7.13%, 07/22/41 (Call 01/22/41)(b) | 400 | 467,075 | ||||||
Braskem Finance Ltd., 6.45%, 02/03/24 | 600 | 667,050 | ||||||
Braskem Netherlands Finance BV | ||||||||
4.50%, 01/10/28 (Call 10/10/27)(b) | 600 | 624,000 | ||||||
4.50%, 01/31/30(b)(g) | 800 | 813,200 | ||||||
5.88%, 01/31/50(b) | 400 | 417,500 |
Security | Par (000) | Value | ||||||
Brazil (continued) | ||||||||
8.50%, 01/23/81 (Call 10/24/25)(b)(e) | $ | 200 | $ | 230,250 | ||||
BRF SA | ||||||||
4.88%, 01/24/30 (Call 10/24/29)(b) | 400 | 410,300 | ||||||
5.75%, 09/21/50 (Call 03/21/50)(b) | 400 | 390,690 | ||||||
Cemig Geracao e Transmissao SA, 9.25%, 12/05/24 (Call 12/05/23)(b) | 800 | 919,800 | ||||||
Centrais Eletricas Brasileiras SA | ||||||||
3.63%, 02/04/25(b) | 400 | 405,900 | ||||||
4.63%, 02/04/30(b) | 400 | 403,380 | ||||||
Cosan Luxembourg SA, 7.00%, 01/20/27 (Call 01/20/22)(b)(g) | 600 | 639,487 | ||||||
Cosan SA, 5.50%, 09/20/29 (Call 09/20/24)(b) | 400 | 426,200 | ||||||
CSN Inova Ventures, 6.75%, 01/28/28 (Call 01/28/24)(b) | 600 | 649,950 | ||||||
CSN Islands XII Corp., 7.00%, (Call 06/23/21)(b)(f)(g) | 600 | 604,125 | ||||||
CSN Resources SA | ||||||||
7.63%, 02/13/23 (Call 05/31/21)(b) | 400 | 415,950 | ||||||
7.63%, 04/17/26 (Call 04/17/22)(b) | 200 | 214,410 | ||||||
Embraer Netherlands Finance BV | ||||||||
5.05%, 06/15/25 | 600 | 628,500 | ||||||
5.40%, 02/01/27 | 400 | 419,750 | ||||||
FS Luxembourg Sarl, 10.00%, 12/15/25 (Call 12/15/23) | 400 | 435,220 | ||||||
Globo Comunicacao e Participacoes SA, 4.88%, 01/22/30(b) | 400 | 404,720 | ||||||
Gol Finance SA, 7.00%, 01/31/25 (Call 01/31/22)(b) | 300 | 273,600 | ||||||
Guara Norte Sarl, 5.20%, 06/15/34(c) | 400 | 401,500 | ||||||
Hidrovias International Finance Sarl, 4.95%, 02/08/31 (Call 02/08/26)(c) | 200 | 203,163 | ||||||
InterCement Financial Operations BV, 5.75%, 07/17/24 (Call 05/31/21)(b) | 400 | 377,084 | ||||||
Itau Unibanco Holding SA/Cayman Island | ||||||||
3.25%, 01/24/25(b) | 200 | 205,050 | ||||||
3.88%, 04/15/31 (Call 01/15/26)(b)(e) | 200 | 194,200 | ||||||
4.50%, 11/21/29 (Call 11/21/24)(b)(e)(g) | 600 | 604,170 | ||||||
4.63%, (Call 02/27/25)(b)(e)(f) | 400 | 380,200 | ||||||
5.13%, 05/13/23(b)(g) | 920 | 974,797 | ||||||
6.13%, (Call 12/12/22)(b)(e)(f) | 600 | 607,050 | ||||||
6.50%, (Call 03/19/23)(b)(e)(f)(g) | 400 | 408,575 | ||||||
JBS Investments II GmbH | ||||||||
5.75%, 01/15/28 (Call 07/15/22)(b) | 400 | 423,160 | ||||||
7.00%, 01/15/26 (Call 01/15/22)(b) | 400 | 425,920 | ||||||
JBS USA LUX SA/JBS USA Finance Inc., 6.75%, 02/15/28 (Call 02/15/23)(b)(g) | 500 | 548,700 | ||||||
JSM Global Sarl, 4.75%, 10/20/30 (Call 07/20/30) | 200 | 201,913 | ||||||
Klabin Austria GmbH | ||||||||
3.20%, 01/12/31 (Call 10/12/30)(b) | 200 | 189,438 | ||||||
5.75%, 04/03/29 (Call 01/03/29)(b) | 400 | 444,500 | ||||||
7.00%, 04/03/49 (Call 10/03/48)(b) | 400 | 488,960 | ||||||
Klabin Finance SA, 4.88%, 09/19/27(b) | 200 | 217,800 | ||||||
MARB BondCo PLC, 3.95%, 01/29/31 | 800 | 762,400 | ||||||
Minerva Luxembourg SA, 4.38%, 03/18/31 (Call 03/18/26)(c) | 400 | 388,104 | ||||||
Movida Europe SA, 5.25%, 02/08/31 | 200 | 195,850 | ||||||
Natura Cosmeticos SA, 5.38%, 02/01/23 (Call 05/21/21)(b) | 400 | 411,200 | ||||||
NBM U.S. Holdings Inc. | ||||||||
6.63%, 08/06/29 (Call 08/06/24)(b) | 400 | 443,000 | ||||||
7.00%, 05/14/26 (Call 05/14/22)(b) | 400 | 430,075 | ||||||
Odebrecht Drilling Norbe VIII/IX Ltd., 7.35%, (7.35% PIK), 12/01/26 (Call 05/31/21)(b)(g)(h) | 423 | 168,706 | ||||||
Odebrecht Holdco Finance Ltd., 0.00%, 09/10/58 (Call 06/01/21)(b)(i) | 800 | 21,200 | ||||||
Odebrecht Offshore Drilling Finance Ltd., 7.72%, (7.72% PIK), 12/01/26 (Call 12/01/21)(b)(h) | 741 | 143,636 | ||||||
Oi SA, 10.00%, (4.00% PIK), 07/27/25(h) | 800 | 836,400 |
28 | 2 0 2 1 I SHARES SEMI - ANNUAL REPORT TO SHAREHOLDERS |
Schedule of Investments (unaudited) (continued) April 30, 2021 | iShares® J.P. Morgan EM High Yield Bond ETF (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||
Brazil (continued) | ||||||||
Petrobras Global Finance BV | ||||||||
4.38%, 05/20/23 | $ | 400 | $ | 423,950 | ||||
5.09%, 01/15/30(g) | 1,765 | 1,865,164 | ||||||
5.30%, 01/27/25 | 500 | 553,844 | ||||||
5.60%, 01/03/31 (Call 10/03/30)(g) | 1,400 | 1,510,250 | ||||||
5.75%, 02/01/29 | 400 | 445,240 | ||||||
6.00%, 01/27/28 | 1,068 | 1,204,170 | ||||||
6.25%, 03/17/24 | 400 | 447,904 | ||||||
6.75%, 01/27/41 | 500 | 566,656 | ||||||
6.75%, 06/03/50 (Call 12/03/49) | 800 | 872,368 | ||||||
6.85%, 06/05/2115(g) | 1,153 | 1,214,513 | ||||||
6.88%, 01/20/40 | 500 | 574,000 | ||||||
6.90%, 03/19/49 | 900 | 1,007,865 | ||||||
7.25%, 03/17/44(g) | 686 | 800,905 | ||||||
7.38%, 01/17/27 | 851 | 1,028,646 | ||||||
8.75%, 05/23/26 | 479 | 609,120 | ||||||
Rede D’or Finance Sarl | ||||||||
4.50%, 01/22/30 (Call 10/22/29)(b) | 200 | 197,000 | ||||||
4.95%, 01/17/28 (Call 10/17/27)(b) | 800 | 826,650 | ||||||
Rumo Luxembourg Sarl | ||||||||
5.25%, 01/10/28 (Call 01/10/24)(b) | 400 | 423,450 | ||||||
5.88%, 01/18/25 (Call 01/18/22)(b) | 200 | 210,900 | ||||||
Simpar Europe SA, 5.20%, 01/26/31 (Call 01/26/26)(c) | 400 | 403,000 | ||||||
Ultrapar International SA | ||||||||
5.25%, 10/06/26(b)(g) | 400 | 430,950 | ||||||
5.25%, 06/06/29(b) | 400 | 419,960 | ||||||
Unigel Luxembourg SA, 8.75%, 10/01/26 (Call 10/01/22)(b) | 200 | 215,168 | ||||||
Usiminas International Sarl, 5.88%, 07/18/26 (Call 07/18/23)(b) | 400 | 429,575 | ||||||
|
| |||||||
46,368,543 | ||||||||
Chile — 0.4% | ||||||||
AES Gener SA, 7.13%, 03/26/79 | 400 | 424,000 | ||||||
Empresa Electrica Guacolda SA, 4.56%, 04/30/25 (Call 01/30/25)(b) | 200 | 156,000 | ||||||
EnfraGen Energia Sur SA, 5.38%, 12/30/30 (Call 12/30/25) | 400 | 396,388 | ||||||
Kenbourne Invest SA, 6.88%, 11/26/24 (Call 11/26/21)(b) | 200 | 212,660 | ||||||
VTR Comunicaciones SpA, 5.13%, 01/15/28 (Call 07/15/23)(b)(g) | 400 | 418,575 | ||||||
VTR Finance NV, 6.38%, 07/15/28 (Call 07/15/23)(b) | 200 | 216,000 | ||||||
|
| |||||||
1,823,623 | ||||||||
China — 6.0% | ||||||||
Agile Group Holdings Ltd., 7.88%, (Call 07/31/24)(b)(e)(f) | 800 | 814,400 | ||||||
Bank of Communications Co. Ltd., 3.80%, (Call 11/18/25)(b)(e)(f) | 1,700 | 1,753,975 | ||||||
Central Plaza Development Ltd., 5.75%, (Call 11/14/24)(b)(e)(f) | 200 | 187,350 | ||||||
China Evergrande Group | ||||||||
7.50%, 06/28/23 (Call 05/31/21)(b) | 700 | 613,506 | ||||||
8.75%, 06/28/25 (Call 06/28/21)(b) | 2,400 | 1,948,200 | ||||||
10.50%, 04/11/24 (Call 04/11/22)(b) | 400 | 358,950 | ||||||
China SCE Group Holdings Ltd. | ||||||||
7.00%, 05/02/25 (Call 05/02/23)(b) | 400 | 404,700 | ||||||
7.38%, 04/09/24 (Call 04/09/22)(b) | 200 | 208,225 | ||||||
China Shenhua Overseas Capital Co. Ltd., 3.88%, 01/20/25(b) | 400 | 416,075 | ||||||
CIFI Holdings Group Co. Ltd. | ||||||||
5.95%, 10/20/25 (Call 07/20/23)(b) | 400 | 422,950 | ||||||
6.45%, 11/07/24 (Call 11/07/22)(b) | 400 | 422,950 | ||||||
Easy Tactic Ltd. | ||||||||
5.88%, 02/13/23 (Call 05/31/21)(b) | 400 | 374,200 | ||||||
11.75%, 08/02/23(b) | 200 | 207,038 |
Security | Par (000) | Value | ||||||
China (continued) | ||||||||
Easy Trade Global Co.Ltd., 4.00%, 11/10/25(b) | $ | 200 | $ | 202,938 | ||||
Fortune Star BVI Ltd. | ||||||||
5.05%, 01/27/27 (Call 01/27/25)(b) | 200 | 199,100 | ||||||
5.95%, 10/19/25 (Call 10/19/23)(b) | 400 | 416,700 | ||||||
Franshion Brilliant Ltd., 6.00%, | 400 | 398,375 | ||||||
Greenland Global Investment Ltd., 5.88%, 07/03/24(b) | 200 | 170,600 | ||||||
Huarong Finance 2017 Co. Ltd. | ||||||||
4.00%, (Call 11/07/22)(b)(e)(f) | 400 | 252,000 | ||||||
4.50%, (Call 01/24/22)(b)(e)(f) | 700 | 448,875 | ||||||
Huarong Finance II Co. Ltd., 2.88%, (Call 09/14/21)(b)(e)(f) | 200 | 130,000 | ||||||
Kaisa Group Holdings Ltd. | ||||||||
9.38%, 06/30/24 (Call 06/30/21)(b) | 1,600 | 1,588,800 | ||||||
9.75%, 09/28/23 (Call 09/28/22)(b) | 400 | 410,700 | ||||||
9.95%, 07/23/25 (Call 01/23/23)(b) | 200 | 192,475 | ||||||
10.50%, 01/15/25 (Call 01/15/23)(b) | 200 | 198,538 | ||||||
10.88%, 07/23/23 (Call 07/23/21)(b) | 400 | 416,950 | ||||||
11.25%, 04/16/25 (Call 04/16/23)(b) | 400 | 404,075 | ||||||
11.95%, 11/12/23 (Call 11/12/21)(b) | 400 | 422,450 | ||||||
KWG Group Holdings Ltd., 5.88%, 11/10/24 (Call 11/10/21)(b) | 400 | 406,825 | ||||||
Lenovo Group Ltd. | ||||||||
4.75%, 03/29/23(b) | 400 | 422,200 | ||||||
5.88%, 04/24/25(b) | 600 | 679,425 | ||||||
Proven Glory Capital Ltd., 4.00%, 02/21/27(b) | 200 | 207,287 | ||||||
Proven Honour Capital Ltd. | ||||||||
4.13%, 05/19/25(b) | 600 | 629,362 | ||||||
4.13%, 05/06/26(b) | 1,000 | 1,054,562 | ||||||
RKPF Overseas 2020 A Ltd., 5.20%, 01/12/26 (Call 01/12/24)(b) | 200 | 200,750 | ||||||
Scenery Journey Ltd., 13.75%, 11/06/23 (Call 11/06/21)(b) | 300 | 283,594 | ||||||
Shui On Development Holding Ltd. | ||||||||
5.75%, 11/12/23 (Call 11/12/21)(b) | 400 | 411,375 | ||||||
6.15%, 08/24/24 (Call 08/24/22)(b) | 400 | 416,375 | ||||||
6.40%, (Call 06/20/22)(b)(e)(f) | 200 | 201,850 | ||||||
Sino-Ocean Land Treasure III Ltd., 4.90%, (Call 09/21/22)(b)(e)(f) | 400 | 344,575 | ||||||
Sunac China Holdings Ltd. | ||||||||
5.95%, 04/26/24 (Call 01/26/23)(b) | 400 | 405,000 | ||||||
6.50%, 07/09/23 (Call 07/09/22)(b) | 200 | 204,750 | ||||||
6.50%, 01/10/25 (Call 01/10/23)(b) | 400 | 406,000 | ||||||
6.50%, 01/26/26 (Call 01/26/24)(b) | 200 | 201,000 | ||||||
6.65%, 08/03/24 (Call 08/03/22)(b) | 400 | 411,575 | ||||||
7.00%, 07/09/25 (Call 07/09/23)(b) | 400 | 410,000 | ||||||
8.35%, 04/19/23 (Call 05/31/21)(b) | 400 | 417,700 | ||||||
Times China Holdings Ltd., 6.75%, 07/08/25 (Call 07/08/23)(b) | 400 | 408,825 | ||||||
Wanda Properties International Co. Ltd., 7.25%, 01/29/24(b) | 400 | 395,575 | ||||||
Well Hope Development Ltd., 3.88%, (Call 10/19/22)(b)(e)(f) | 600 | 610,800 | ||||||
Yancoal International Resources Development Co. Ltd., 3.50%, 11/04/23(b) | 400 | 400,325 | ||||||
Yuzhou Group Holdings Co. Ltd. | ||||||||
6.35%, 01/13/27 (Call 01/13/25)(b) | 200 | 165,125 | ||||||
7.38%, 01/13/26 (Call 01/13/24)(b) | 400 | 337,500 | ||||||
8.38%, 10/30/24 (Call 10/30/22)(b) | 200 | 182,500 | ||||||
8.50%, 02/26/24 (Call 02/26/22)(b) | 400 | 371,000 | ||||||
|
| |||||||
24,570,950 | ||||||||
Colombia — 1.0% | ||||||||
AI Candelaria Spain SLU, 7.50%, 12/15/28 (Call 09/15/28)(b) | 550 | 631,812 | ||||||
Banco Davivienda SA, 6.65%, | 200 | 203,310 |
SCHEDULE OF INVESTMENTS | 29 |
Schedule of Investments (unaudited) (continued) April 30, 2021 | iShares® J.P. Morgan EM High Yield Bond ETF (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||
Colombia (continued) | ||||||||
Banco de Bogota SA | ||||||||
5.38%, 02/19/23(b) | $ | 200 | $ | 211,475 | ||||
6.25%, 05/12/26(b) | 600 | 671,700 | ||||||
Bancolombia SA | ||||||||
4.63%, 12/18/29 (Call 12/18/24)(e) | 200 | 201,626 | ||||||
4.88%, 10/18/27 (Call 10/18/22)(e)(g) | 400 | 405,450 | ||||||
Colombia Telecomunicaciones SA ESP, 4.95%, 07/17/30 (Call 04/17/30)(b)(g) | 200 | 210,480 | ||||||
Geopark Ltd., 5.50%, 01/17/27 (Call 01/17/24)(b) | 200 | 204,825 | ||||||
Grupo Aval Ltd., 4.38%, 02/04/30 | 600 | 600,675 | ||||||
Millicom International Cellular SA | ||||||||
4.50%, 04/27/31 (Call 04/27/26)(b) | 200 | 212,500 | ||||||
6.25%, 03/25/29 (Call 03/25/24)(b) | 360 | 401,355 | ||||||
Termocandelaria Power Ltd., 7.88%, 01/30/29 (Call 01/30/23)(b)(g) | 185 | 200,471 | ||||||
|
| |||||||
4,155,679 | ||||||||
Congo — 0.1% | ||||||||
HTA Group Ltd./Mauritius, 7.00%, 12/18/25 (Call 06/18/22)(b) | 400 | 425,700 | ||||||
|
| |||||||
Egypt — 0.1% | ||||||||
Embraer Netherlands Finance BV, 6.95%, 01/17/28(b) | 400 | 448,000 | ||||||
|
| |||||||
Ghana — 0.2% | ||||||||
Kosmos Energy Ltd., 7.13%, 04/04/26 (Call 04/04/22)(b) | 400 | 388,125 | ||||||
Tullow Oil PLC, 7.00%, 03/01/25 (Call 06/01/21)(b) | 400 | 342,000 | ||||||
|
| |||||||
730,125 | ||||||||
Guatemala — 0.1% | ||||||||
Central American Bottling Corp., 5.75%, 01/31/27 (Call 01/31/22)(b) | 300 | 315,750 | ||||||
Investment Energy Resources Ltd., 6.25%, 04/26/29 (Call 04/26/25)(c) | 200 | 212,700 | ||||||
|
| |||||||
528,450 | ||||||||
Hong Kong — 2.3% | ||||||||
Bank of Communications Hong Kong Ltd., 3.73%, (Call 03/03/25)(b)(e)(f) | 250 | 254,984 | ||||||
Bank of East Asia Ltd. (The) | ||||||||
5.63%, (Call 05/18/22)(b)(e)(f) | 400 | 409,200 | ||||||
5.83%, (Call 10/21/25)(b)(e)(f) | 250 | 266,172 | ||||||
5.88%, (Call 09/19/24)(b)(e)(f) | 250 | 266,062 | ||||||
CAS Capital No. 1 Ltd., 4.00%, | 400 | 399,375 | ||||||
Celestial Dynasty Ltd., 4.25%, 06/27/29(b) | 800 | 816,900 | ||||||
Celestial Miles Ltd., 5.75%, (Call 01/31/24)(b)(e)(f) | 200 | 212,162 | ||||||
China CITIC Bank International Ltd., 7.10%, (Call 11/06/23)(b)(e)(f) | 400 | 435,450 | ||||||
FWD Group Ltd. | ||||||||
5.75%, 07/09/24(b) | 200 | 211,788 | ||||||
6.38%, (Call 09/13/24)(b)(e)(f) | 800 | 820,900 | ||||||
Henderson Land MTN Ltd., 2.38%, 05/27/25(b) | 400 | 401,075 | ||||||
Industrial & Commercial Bank of China Asia Ltd., 4.25%, (Call 07/21/21)(b)(e)(f) | 1,000 | 1,005,500 | ||||||
Li & Fung Ltd., 5.25%, (Call 11/03/21)(b)(f) | 200 | 143,600 | ||||||
Nanyang Commercial Bank Ltd., 5.00%, (Call 06/02/22)(b)(e)(f) | 600 | 605,250 | ||||||
New World China Land Ltd., 4.75%, 01/23/27(b) | 400 | 422,450 | ||||||
NWD Finance BVI Ltd. | ||||||||
4.80%, (Call 09/09/23)(b)(f) | 200 | 195,100 | ||||||
5.25%, (Call 03/22/26)(b)(e)(f) | 600 | 640,425 | ||||||
6.25%, (Call 03/07/24)(b)(f) | 800 | 835,650 | ||||||
NWD MTN Ltd. | ||||||||
4.13%, 07/18/29(b) | 800 | 820,650 | ||||||
4.50%, 05/19/30(b) | 200 | 210,163 |
Security | Par (000) | Value | ||||||
Hong Kong (continued) | ||||||||
Wheelock MTN BVI Ltd., 2.38%, 01/25/26(b) | $ | 200 | $ | 199,475 | ||||
|
| |||||||
9,572,331 | ||||||||
India — 2.1% | ||||||||
ABJA Investment Co. Pte Ltd. | ||||||||
5.45%, 01/24/28(b) | 600 | 621,144 | ||||||
5.95%, 07/31/24(b) | 425 | 460,408 | ||||||
Adani Green Energy UP Ltd./Prayatna Developers Pvt Ltd./Parampujya Solar Energy, 6.25%, 12/10/24(b) | 400 | 441,200 | ||||||
Continuum Energy Levanter Pte Ltd., 4.50%, 02/09/27 (Call 02/09/24)(c) | 200 | 202,700 | ||||||
Delhi International Airport Ltd. | ||||||||
6.13%, 10/31/26(b) | 200 | 200,038 | ||||||
6.45%, 06/04/29(b) | 400 | 396,200 | ||||||
Future Retail Ltd., 5.60%, 01/22/25 | 200 | 159,538 | ||||||
Greenko Dutch BV, 3.85%, 03/29/26 (Call 03/29/23)(c) | 400 | 405,375 | ||||||
Greenko Investment Co., 4.88%, 08/16/23 (Call 06/01/21)(b) | 200 | 202,662 | ||||||
Greenko Solar Mauritius Ltd. | ||||||||
5.55%, 01/29/25 (Call 01/29/22)(b) | 400 | 411,500 | ||||||
5.95%, 07/29/26 (Call 07/29/22)(b) | 200 | 214,600 | ||||||
JSW Steel Ltd., 5.95%, 04/18/24(b) | 400 | 427,700 | ||||||
Network i2i Ltd. | ||||||||
3.98%, (Call 03/03/26)(c)(e)(f) | 200 | 201,000 | ||||||
5.65%, (Call 01/15/25)(b)(e)(f) | 600 | 637,425 | ||||||
Periama Holdings LLC/DE, 5.95%, 04/19/26(b) | 400 | 426,300 | ||||||
ReNew Power Synthetic, 6.67%, 03/12/24 (Call 05/31/21)(b) | 200 | 209,537 | ||||||
ReNew Wind Energy AP2/ReNew Power Pvt Ltd. other 9 | ||||||||
Subsidiaries, 4.50%, 07/14/28 (Call 10/14/23)(c) | 400 | 397,500 | ||||||
Shriram Transport Finance Co. Ltd., 4.40%, 03/13/24 | 200 | 197,750 | ||||||
Vedanta Resources Finance II PLC | ||||||||
8.95%, 03/11/25 (Call 09/11/24)(c) | 600 | 591,600 | ||||||
9.25%, 04/23/26 (Call 04/23/23)(b) | 200 | 179,225 | ||||||
13.88%, 01/21/24 (Call 12/21/22)(b) | 400 | 438,700 | ||||||
Vedanta Resources Ltd. | ||||||||
6.13%, 08/09/24 (Call 08/09/21)(b) | 600 | 512,175 | ||||||
7.13%, 05/31/23(b) | 500 | 470,875 | ||||||
|
| |||||||
8,405,152 | ||||||||
Indonesia — 0.7% | ||||||||
Adaro Indonesia PT, 4.25%, 10/31/24 (Call 10/31/22)(b) | 500 | 512,281 | ||||||
Indika Energy Capital III Pte Ltd., 5.88%, 11/09/24 (Call 11/09/21)(b) | 800 | 810,400 | ||||||
Medco Oak Tree Pte Ltd., 7.38%, 05/14/26 (Call 05/14/23)(b)(g) | 800 | 868,150 | ||||||
Saka Energi Indonesia PT, 4.45%, 05/05/24(b) | 400 | 333,950 | ||||||
Star Energy Geothermal Wayang Windu Ltd., 6.75%, 04/24/33 (Call 04/24/26)(b) | 177 | 201,702 | ||||||
|
| |||||||
2,726,483 | ||||||||
Israel — 2.3% | ||||||||
Energean Israel Finance Ltd. | ||||||||
4.50%, 03/30/24 (Call 12/30/23) | 400 | 410,275 | ||||||
4.88%, 03/30/26 (Call 12/30/25) | 400 | 412,520 | ||||||
5.38%, 03/30/28 (Call 09/30/27) | 400 | 412,875 | ||||||
5.88%, 03/30/31 (Call 09/30/30) | 200 | 205,938 | ||||||
Leviathan Bond Ltd. | ||||||||
5.75%, 06/30/23 (Call 03/30/23)(c) | 200 | 209,225 | ||||||
6.13%, 06/30/25 (Call 03/30/25)(c) | 200 | 219,000 | ||||||
6.50%, 06/30/27 (Call 12/30/26)(c) | 400 | 443,575 | ||||||
6.75%, 06/30/30 (Call 12/30/29)(c) | 300 | 335,962 | ||||||
Teva Pharmaceutical Finance Co. LLC, 6.15%, 02/01/36 | 500 | 538,810 | ||||||
Teva Pharmaceutical Finance Netherlands III BV 2.80%, 07/21/23 | 1,475 | 1,463,200 |
30 | 2 0 2 1 I SHARES SEMI - ANNUAL REPORT TO SHAREHOLDERS |
Schedule of Investments (unaudited) (continued) April 30, 2021 | iShares® J.P. Morgan EM High Yield Bond ETF (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||
Israel (continued) | ||||||||
3.15%, 10/01/26 | $ | 1,900 | $ | 1,781,725 | ||||
4.10%, 10/01/46(g) | 1,050 | 895,125 | ||||||
6.00%, 04/15/24 (Call 01/15/24) | 600 | 630,000 | ||||||
6.75%, 03/01/28 (Call 12/01/27)(g) | 600 | 648,750 | ||||||
7.13%, 01/31/25 (Call 10/31/24) | 600 | 649,875 | ||||||
|
| |||||||
9,256,855 | ||||||||
Jamaica — 0.4% | ||||||||
Digicel Group 0.5 Ltd. (2.00% PIK), 10.00%, 04/01/24 (Call 05/17/21)(h) | 737 | 722,422 | ||||||
Digicel Holdings Bermuda Ltd./Digicel International Finance Ltd., 8.75%, 05/25/24 (Call 05/25/21)(b) | 550 | 572,375 | ||||||
Digicel Ltd., 6.75%, 03/01/23 (Call 05/17/21)(b) | 400 | 376,875 | ||||||
|
| |||||||
1,671,672 | ||||||||
Kuwait — 0.2% | ||||||||
Burgan Bank SAK, 5.75%, (Call 07/09/24)(b)(e)(f) | 400 | 396,075 | ||||||
Kuwait Projects Co. SPC Ltd. | ||||||||
4.23%, 10/29/26(b) | 400 | 393,200 | ||||||
4.50%, 02/23/27(b) | 200 | 195,850 | ||||||
|
| |||||||
985,125 | ||||||||
Luxembourg — 0.5% | ||||||||
Altice Financing SA | ||||||||
5.00%, 01/15/28 (Call 01/15/23)(b) | 600 | 591,750 | ||||||
7.50%, 05/15/26 (Call 05/15/21)(b) | 1,400 | 1,450,092 | ||||||
|
| |||||||
2,041,842 | ||||||||
Macau — 1.9% | ||||||||
Champion Path Holdings Ltd. | ||||||||
4.50%, 01/27/26 (Call 01/27/24)(b) | 200 | 209,250 | ||||||
4.85%, 01/27/28 (Call 01/27/25)(b) | 400 | 420,075 | ||||||
Melco Resorts Finance Ltd. | ||||||||
4.88%, 06/06/25 (Call 05/31/21)(b) | 200 | 204,937 | ||||||
5.25%, 04/26/26 (Call 04/26/22)(b) | 800 | 834,400 | ||||||
5.38%, 12/04/29 (Call 12/04/24)(b) | 600 | 635,700 | ||||||
5.63%, 07/17/27 (Call 07/17/22)(b) | 200 | 211,662 | ||||||
5.75%, 07/21/28 (Call 07/21/23)(b) | 400 | 429,450 | ||||||
MGM China Holdings Ltd. | ||||||||
4.75%, 02/01/27 (Call 02/01/24)(c) | 200 | 205,750 | ||||||
5.25%, 06/18/25 (Call 06/18/22)(b) | 200 | 208,850 | ||||||
5.38%, 05/15/24 (Call 05/15/21)(b) | 800 | 823,400 | ||||||
Studio City Finance Ltd. | ||||||||
5.00%, 01/15/29 (Call 01/15/24)(b) | 200 | 204,038 | ||||||
6.00%, 07/15/25 (Call 07/15/22)(b) | 400 | 422,200 | ||||||
6.50%, 01/15/28 (Call 07/15/23)(b) | 400 | 433,500 | ||||||
Wynn Macau Ltd. | ||||||||
4.88%, 10/01/24 (Call 05/31/21)(b) | 400 | 405,400 | ||||||
5.13%, 12/15/29 (Call 12/15/24)(b) | 800 | 819,750 | ||||||
5.50%, 01/15/26 (Call 06/15/22)(b) | 200 | 209,250 | ||||||
5.50%, 10/01/27 (Call 10/01/22)(b) | 400 | 417,575 | ||||||
Wynn Macau Ltd. SR, 5.63%, 08/26/28 (Call 08/26/23)(b) | 600 | 629,250 | ||||||
|
| |||||||
7,724,437 | ||||||||
Mexico — 8.5% | ||||||||
Banco Mercantil del Norte SA/Grand Cayman | ||||||||
6.75%, (Call 09/27/24)(b)(e)(f) | 500 | 523,063 | ||||||
7.50%, (Call 06/27/29)(b)(e)(f) | 400 | 440,325 | ||||||
7.63%, 12/31/49 (Call 01/06/28)(b)(f) | 200 | 220,750 | ||||||
8.38%, 12/31/49 (Call 10/14/30) | 200 | 235,690 | ||||||
BBVA Bancomer SA/Texas | ||||||||
5.13%, 01/18/33 (Call 01/17/28)(b)(e) | 600 | 621,863 | ||||||
5.88%, 09/13/34 (Call 09/13/29)(b)(e) | 350 | 381,784 | ||||||
Braskem Idesa SAPI, 7.45%, 11/15/29 (Call 11/15/24)(b)(g) | 400 | 402,700 |
Security | Par (000) | Value | ||||||
Mexico (continued) | ||||||||
Cemex SAB de CV | ||||||||
3.88%, 07/11/31 (Call 07/11/26)(b) | $ | 800 | $ | 788,760 | ||||
5.20%, 09/17/30 (Call 09/17/25)(b) | 600 | 652,920 | ||||||
5.45%, 11/19/29 (Call 11/19/24)(b) | 600 | 657,112 | ||||||
7.38%, 06/05/27 (Call 06/05/23)(b) | 400 | 452,100 | ||||||
Credito Real SAB de CV, 8.00%, 01/21/28 (Call 01/21/25) | 200 | 192,440 | ||||||
Credito Real SAB de CV SOFOM ER, 8.00%, 01/21/28 (Call 01/21/25)(c)(g) | 200 | 192,440 | ||||||
Grupo Bimbo SAB de CV, 5.95%, | 200 | 211,450 | ||||||
Mexico Remittances Funding Fiduciary Estate Management Sarl, 4.88%, 01/15/28 | 200 | 187,250 | ||||||
Nemak SAB de CV, 4.75%, 01/23/25 | 200 | 205,850 | ||||||
Petroleos Mexicanos | ||||||||
4.50%, 01/23/26 | 600 | 605,250 | ||||||
4.88%, 01/18/24(g) | 600 | 621,863 | ||||||
5.35%, 02/12/28 | 1,200 | 1,174,500 | ||||||
5.95%, 01/28/31 (Call 10/28/30) | 2,100 | 2,027,340 | ||||||
6.35%, 02/12/48 | 1,602 | 1,361,700 | ||||||
6.38%, 01/23/45 | 795 | 682,209 | ||||||
6.49%, 01/23/27 (Call 11/23/26) | 1,150 | 1,216,125 | ||||||
6.50%, 03/13/27 | 3,000 | 3,180,000 | ||||||
6.50%, 01/23/29(g) | 1,000 | 1,015,250 | ||||||
6.50%, 06/02/41(g) | 800 | 715,150 | ||||||
6.63%, 06/15/35 | 1,200 | 1,151,700 | ||||||
6.75%, 09/21/47 | 3,200 | 2,832,000 | ||||||
6.84%, 01/23/30 (Call 10/23/29) | 2,500 | 2,568,750 | ||||||
6.88%, 10/16/25 (Call 09/16/25) | 500 | 547,500 | ||||||
6.88%, 08/04/26 | 1,900 | 2,051,050 | ||||||
6.95%, 01/28/60 (Call 07/28/59) | 2,000 | 1,758,550 | ||||||
7.69%, 01/23/50 (Call 07/23/49)(g) | 4,250 | 4,090,625 | ||||||
Total Play Telecomunicaciones SA de CV, 7.50%, 11/12/25 (Call 12/12/23) | 400 | 398,500 | ||||||
Unifin Financiera SAB de CV, 9.88%, 01/28/29 (Call 01/28/25)(b) | 400 | 392,660 | ||||||
|
| |||||||
34,757,219 | ||||||||
Morocco — 0.4% | ||||||||
OCP SA | ||||||||
4.50%, 10/22/25(b) | 200 | 212,287 | ||||||
5.63%, 04/25/24(b) | 800 | 868,400 | ||||||
6.88%, 04/25/44(b) | 400 | 482,075 | ||||||
|
| |||||||
1,562,762 | ||||||||
Nigeria — 0.3% | ||||||||
IHS Netherlands Holdco BV | ||||||||
7.13%, 03/18/25 (Call 09/18/21)(b) | 200 | 208,075 | ||||||
8.00%, 09/18/27 (Call 09/18/22)(b) | 600 | 651,000 | ||||||
SEPLAT Petroleum Development Co. PLC, 7.75%, 04/01/26 (Call 04/01/23)(c) | 200 | 204,060 | ||||||
|
| |||||||
1,063,135 | ||||||||
Oman — 0.3% | ||||||||
National Bank of Oman SAOG, 5.63%, 09/25/23(b) | 200 | 209,663 | ||||||
Oztel Holdings SPC Ltd. | ||||||||
5.63%, 10/24/23(b) | 400 | 425,325 | ||||||
6.63%, 04/24/28(b) | 500 | 555,406 | ||||||
|
| |||||||
1,190,394 | ||||||||
Panama — 0.4% | ||||||||
C&W Senior Financing DAC | ||||||||
6.88%, 09/15/27 (Call 09/15/22)(b)(g) | 800 | 850,000 | ||||||
7.50%, 10/15/26 (Call 10/15/21)(b) | 200 | 212,000 |
SCHEDULE OF INVESTMENTS | 31 |
Schedule of Investments (unaudited) (continued) April 30, 2021 | iShares® J.P. Morgan EM High Yield Bond ETF (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||
Panama (continued) | ||||||||
Cable Onda SA, 4.50%, 01/30/30 | $ | 400 | $ | 424,000 | ||||
|
| |||||||
1,486,000 | ||||||||
Paraguay — 0.1% | ||||||||
Bioceanico Sovereign Certificate Ltd., 0.00%, 06/05/34(b)(i) | 492 | 358,573 | ||||||
Telefonica Celular del Paraguay SA, 5.88%, 04/15/27 (Call 04/15/22)(b) | 200 | 211,412 | ||||||
|
| |||||||
569,985 | ||||||||
Peru — 0.6% | ||||||||
Hunt Oil Co. of Peru LLC Sucursal Del Peru, 6.38%, 06/01/28(b) | 400 | 406,570 | ||||||
Inkia Energy Ltd., 5.88%, 11/09/27 | 400 | 400,000 | ||||||
InRetail Consumer, 3.25%, 03/22/28 | 400 | 380,660 | ||||||
Nexa Resources SA, 5.38%, 05/04/27 (Call 02/04/27)(b)(g) | 600 | 636,600 | ||||||
Orazul Energy Egenor SCA, 5.63%, 04/28/27 (Call 04/28/22)(b)(g) | 200 | 201,000 | ||||||
Peru LNG Srl, 5.38%, 03/22/30(b) | 400 | 333,575 | ||||||
|
| |||||||
2,358,405 | ||||||||
Philippines — 0.8% | ||||||||
JGSH Philippines Ltd., 4.13%, 07/09/30(b) | 400 | 425,700 | ||||||
Jollibee Worldwide Pte Ltd., 3.90%, | 400 | 383,325 | ||||||
Manila Water Co. Inc., 4.38%, 07/30/30 (Call 07/30/25)(b) | 200 | 210,725 | ||||||
Petron Corp., 4.60%, (Call 07/19/23)(b)(e)(f) | 200 | 200,163 | ||||||
San Miguel Crop., 5.50%, (Call 07/29/25)(b)(e)(f) | 400 | 417,000 | ||||||
SMC Global Power Holdings Corp. | ||||||||
5.70%, (Call 01/21/26)(b)(e)(f) | 200 | 203,537 | ||||||
6.50%, (Call 04/25/24)(b)(e)(f) | 800 | 823,400 | ||||||
7.00%, (Call 10/21/25)(b)(e)(f) | 400 | 424,450 | ||||||
|
| |||||||
3,088,300 | ||||||||
Qatar — 0.1% | ||||||||
Commercial Bank PSQC (The), 4.50%, (Call 03/03/26)(b)(e)(f) | 400 | 400,375 | ||||||
|
| |||||||
Russia — 2.1% | ||||||||
Alfa Bank AO Via Alfa Bond Issuance PLC | ||||||||
5.95%, 04/15/30 (Call 04/15/25)(b)(e) | 800 | 822,150 | ||||||
6.95%, (Call 04/30/23)(b)(e)(f) | 400 | 413,575 | ||||||
Credit Bank of Moscow Via CBOM Finance PLC | ||||||||
4.70%, 01/29/25(b) | 200 | 202,350 | ||||||
8.88%, (Call 11/10/22)(b)(e)(f) | 400 | 397,700 | ||||||
Eurochem Finance DAC, 5.50%, 03/13/24(b) | 400 | 434,000 | ||||||
Evraz PLC | ||||||||
5.25%, 04/02/24(b) | 400 | 430,460 | ||||||
5.38%, 03/20/23(b) | 600 | 635,925 | ||||||
Metalloinvest Finance DAC, 4.85%, 05/02/24(b) | 600 | 640,800 | ||||||
Polyus Finance PLC, 5.25%, 02/07/23(b) | 400 | 420,700 | ||||||
TMK OAO Via TMK Capital SA, 4.30%, 02/12/27(b) | 400 | 402,200 | ||||||
Uralkali OJSC Via Uralkali Finance DAC, 4.00%, 10/22/24(b) | 400 | 414,950 | ||||||
VEON Holdings BV | ||||||||
3.38%, 11/25/27 (Call 08/25/27)(b) | 600 | 601,800 | ||||||
4.00%, 04/09/25 (Call 01/09/25)(b) | 600 | 629,063 | ||||||
4.95%, 06/16/24 (Call 03/16/24)(b) | 400 | 428,075 | ||||||
5.95%, 02/13/23(b) | 600 | 638,175 | ||||||
VTB Bank PJSC Via VTB Eurasia DAC, 9.50%, (Call 12/06/22)(b)(e)(f) | 1,050 | 1,129,931 | ||||||
|
| |||||||
8,641,854 | ||||||||
Saudi Arabia — 0.2% | ||||||||
Arabian Centres Sukuk II Ltd., 5.63%, 10/07/26(c) | 200 | 205,438 | ||||||
Arabian Centres Sukuk Ltd., 5.38%, 11/26/24(b) | 200 | 206,600 | ||||||
Dar Al-Arkan Sukuk Co. Ltd., 6.75%, 02/15/25(b) | 600 | 620,737 | ||||||
|
| |||||||
1,032,775 |
Security | Par (000) | Value | ||||||
Singapore — 0.1% | ||||||||
Olam International Ltd., 5.35%, (Call 07/20/21)(b)(e)(f) | $ | 200 | $ | 200,038 | ||||
Singapore Airlines Ltd., 3.00%, 07/20/26 | 400 | 406,282 | ||||||
|
| |||||||
606,320 | ||||||||
South Africa — 1.4% | ||||||||
Eskom Holdings SOC Ltd. | ||||||||
6.35%, 08/10/28(b) | 600 | 652,312 | ||||||
6.75%, 08/06/23(b) | 617 | 644,495 | ||||||
7.13%, 02/11/25(b) | 660 | 691,267 | ||||||
FirstRand Bank Ltd., 6.25%, 04/23/28 | 200 | 211,663 | ||||||
Gold Fields Orogen Holdings BVI Ltd. | ||||||||
5.13%, 05/15/24 (Call 04/15/24)(b) | 400 | 435,200 | ||||||
6.13%, 05/15/29 (Call 02/15/29)(b) | 200 | 235,725 | ||||||
Liquid Telecommunications Financing PLC, 5.50%, 09/04/26 (Call 03/04/23)(c) | 200 | 210,938 | ||||||
MTN Mauritius Investments Ltd., 4.76%, 11/11/24(b) | 600 | 634,050 | ||||||
Sasol Financing USA LLC | ||||||||
4.38%, 09/18/26 (Call 08/18/26) | 400 | 406,000 | ||||||
5.50%, 03/18/31 (Call 03/18/30) | 400 | 406,420 | ||||||
5.88%, 03/27/24 (Call 02/27/24) | 800 | 848,900 | ||||||
6.50%, 09/27/28 (Call 06/27/28) | 400 | 441,380 | ||||||
|
| |||||||
5,818,350 | ||||||||
South Korea — 0.3% | ||||||||
SK Innovation Co. Ltd., 4.13%, 07/13/23(b) | 400 | 421,944 | ||||||
Woori Bank | ||||||||
4.25%, (Call 10/04/24)(b)(e)(f) | 400 | 415,575 | ||||||
5.25%, (Call 05/16/22)(b)(e)(f) | 200 | 206,100 | ||||||
|
| |||||||
1,043,619 | ||||||||
Thailand — 0.4% | ||||||||
Bangkok Bank PCL/Hong Kong | ||||||||
3.73%, 09/25/34 (Call 09/25/29)(b)(e) | 600 | 609,863 | ||||||
5.00%, 12/31/49 (Call 09/23/25) | 400 | 420,450 | ||||||
Kasikornbank PCL/Hong Kong, 3.34%, 10/02/31 (Call 10/02/26)(b)(e) | 600 | 613,237 | ||||||
|
| |||||||
1,643,550 | ||||||||
Togo — 0.0% | ||||||||
Ecobank Transnational Inc., 9.50%, 04/18/24(b) | 200 | 213,662 | ||||||
|
| |||||||
Turkey — 2.4% | ||||||||
Akbank T.A.S., 6.80%, 02/06/26(b) | 400 | 412,825 | ||||||
Akbank TAS | ||||||||
5.13%, 03/31/25(b) | 200 | 198,413 | ||||||
7.20%, 03/16/27 (Call 03/16/22)(b)(e) | 200 | 200,788 | ||||||
Arcelik AS, 5.00%, 04/03/23(b) | 200 | 206,350 | ||||||
Coca-Cola Icecek AS, 4.22%, 09/19/24 | 200 | 208,725 | ||||||
KOC Holding AS | ||||||||
5.25%, 03/15/23 (Call 12/15/22)(b) | 400 | 408,700 | ||||||
6.50%, 03/11/25 (Call 12/11/24)(b) | 400 | 427,950 | ||||||
Mersin Uluslararasi Liman Isletmeciligi AS, 5.38%, 11/15/24 (Call 11/15/22)(b) | 200 | 210,787 | ||||||
QNB Finansbank AS, 6.88%, 09/07/24(b) | 400 | 422,575 | ||||||
Turk Telekomunikasyon AS | ||||||||
4.88%, 06/19/24(b) | 200 | 206,187 | ||||||
6.88%, 02/28/25(b) | 200 | 217,850 | ||||||
Turkcell Iletisim Hizmetleri AS | ||||||||
5.75%, 10/15/25(b) | 200 | 213,162 | ||||||
5.80%, 04/11/28 (Call 01/11/28)(b) | 400 | 417,875 | ||||||
Turkiye Garanti Bankasi AS | ||||||||
5.88%, 03/16/23(b) | 300 | 310,275 | ||||||
6.13%, 05/24/27 (Call 05/24/22)(b)(e) | 400 | 396,825 |
32 | 2 0 2 1 I SHARES SEMI - ANNUAL REPORT TO SHAREHOLDERS |
Schedule of Investments (unaudited) (continued) April 30, 2021 | iShares® J.P. Morgan EM High Yield Bond ETF (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||
Turkey (continued) | ||||||||
Turkiye Is Bankasi AS | ||||||||
6.13%, 04/25/24(b) | $ | 800 | $ | 814,650 | ||||
7.00%, 06/29/28 (Call 06/29/23)(b)(e) | 200 | 199,413 | ||||||
7.75%, 01/22/30 (Call 01/22/25)(b)(e) | 400 | 402,325 | ||||||
Turkiye Petrol Rafinerileri AS, 4.50%, 10/18/24 (Call 07/20/24)(b) | 400 | 392,700 | ||||||
Turkiye Sise ve Cam Fabrikalari AS, 6.95%, 03/14/26 (Call 12/14/25)(b) | 300 | 330,806 | ||||||
Turkiye Vakiflar Bankasi TAO | ||||||||
5.25%, 02/05/25(b) | 200 | 194,788 | ||||||
6.50%, 01/08/26(b) | 400 | 398,875 | ||||||
8.13%, 03/28/24(b) | 600 | 634,987 | ||||||
Ulker Biskuvi Sanayi AS, 6.95%, 10/30/25(b) | 400 | 432,450 | ||||||
Yapi ve Kredi Bankasi AS | ||||||||
5.85%, 06/21/24(b) | 300 | 302,681 | ||||||
6.10%, 03/16/23(b) | 200 | 204,163 | ||||||
7.88%, 01/22/31 (Call 01/22/26)(c)(e)(g) | 200 | 200,438 | ||||||
8.25%, 10/15/24(b) | 200 | 213,937 | ||||||
13.88%, (Call 01/15/24)(b)(e)(f) | 400 | 448,875 | ||||||
|
| |||||||
9,630,375 | ||||||||
Ukraine — 0.3% | ||||||||
Metinvest BV | ||||||||
7.75%, 10/17/29(b) | 200 | 212,975 | ||||||
8.50%, 04/23/26 (Call 01/23/26)(b) | 400 | 439,200 | ||||||
MHP Lux SA, 6.95%, 04/03/26(b) | 200 | 204,850 | ||||||
MHP SE, 7.75%, 05/10/24(b) | 400 | 420,950 | ||||||
|
| |||||||
1,277,975 | ||||||||
United Arab Emirates — 1.4% | ||||||||
ADIB Capital Invest 2 Ltd., 7.13%, | 400 | 437,075 | ||||||
Commercial Bank of Dubai PSC, 6.00%, (Call 04/21/26)(b)(e)(f) | 200 | 212,438 | ||||||
DIB Tier 1 Sukuk 3 Ltd., 6.25%, | 400 | 436,875 | ||||||
DIB Tier 1 Sukuk 4 Ltd., 4.63%, | 800 | 839,750 | ||||||
DP World Salaam, 6.00%, (Call 10/01/25)(b)(e)(f) | 800 | 875,750 | ||||||
Emaar Sukuk Ltd. | ||||||||
3.64%, 09/15/26(b) | 200 | 205,600 | ||||||
3.88%, 09/17/29(b) | 400 | 404,575 | ||||||
EMG SUKUK Ltd., 4.56%, 06/18/24(b) | 400 | 427,950 | ||||||
Emirates NBD Bank PJSC | ||||||||
6.13%, (Call 03/20/25)(b)(e)(f) | 600 | 642,562 | ||||||
6.13%, (Call 04/09/26)(b)(e)(f) | 400 | 437,575 | ||||||
GEMS MENASA Cayman Ltd./GEMS Education Delaware LLC, 7.13%, 07/31/26 | 400 | 419,000 | ||||||
Shelf Drilling Holdings Ltd., 8.25%, 02/15/25 (Call 02/15/22)(b) | 500 | 370,000 | ||||||
|
| |||||||
5,709,150 | ||||||||
United States — 0.1% | ||||||||
Playtika Holding Corp., 4.25%, 03/15/29 (Call 03/15/24)(c) | 300 | 297,375 | ||||||
|
| |||||||
Vietnam — 0.1% | ||||||||
Mong Duong Finance Holdings BV, 5.13%, 05/07/29 (Call 05/07/23)(b) | 250 | 251,844 | ||||||
|
| |||||||
Zambia — 0.8% | ||||||||
First Quantum Minerals Ltd. | ||||||||
6.50%, 03/01/24 (Call 05/10/21)(b) | 400 | 410,500 | ||||||
6.88%, 03/01/26 (Call 05/10/21)(b) | 600 | 629,175 | ||||||
6.88%, 10/15/27 (Call 10/15/23)(b) | 800 | 874,000 | ||||||
7.25%, 04/01/23 (Call 05/10/21)(b) | 800 | 813,000 |
Security | Par (000) | Value | ||||||
Zambia (continued) | ||||||||
7.50%, 04/01/25 (Call 05/10/21)(b) | $ | 600 | $ | 622,875 | ||||
|
| |||||||
3,349,550 | ||||||||
|
| |||||||
Total Corporate Bonds & Notes — 52.4% |
| 213,901,518 | ||||||
|
| |||||||
Foreign Government Obligations(a) |
| |||||||
Angola — 1.1% | ||||||||
Angolan Government International Bond | ||||||||
8.00%, 11/26/29(b) | 1,000 | 1,007,375 | ||||||
8.25%, 05/09/28(b) | 800 | 820,400 | ||||||
9.13%, 11/26/49(b) | 1,200 | 1,212,975 | ||||||
9.38%, 05/08/48(b) | 400 | 411,325 | ||||||
9.50%, 11/12/25(b) | 800 | 876,400 | ||||||
|
| |||||||
4,328,475 | ||||||||
Argentina — 2.8% | ||||||||
Argentine Republic Government International Bond | ||||||||
0.13%, 07/09/30 (Call 05/31/21)(d) | 8,483 | 3,031,548 | ||||||
0.13%, 07/09/35 (Call 05/31/21)(d) | 10,796 | 3,395,811 | ||||||
0.13%, 01/09/38 (Call 05/31/21)(d) | 5,956 | 2,238,437 | ||||||
0.13%, 07/09/41 (Call 05/31/21)(d)(g) | 5,600 | 1,987,300 | ||||||
0.13%, 07/09/46 (Call 05/31/21)(d) | 1,150 | 365,700 | ||||||
1.00%, 07/09/29 (Call 06/01/21)(g) | 1,299 | 489,848 | ||||||
|
| |||||||
11,508,644 | ||||||||
Azerbaijan — 0.5% | ||||||||
Republic of Azerbaijan International Bond | ||||||||
3.50%, 09/01/32(b) | 450 | 452,475 | ||||||
4.75%, 03/18/24(b) | 800 | 867,900 | ||||||
State Oil Co. of the Azerbaijan Republic, 4.75%, 03/13/23(b) | 600 | 634,237 | ||||||
|
| |||||||
1,954,612 | ||||||||
Bahrain — 2.2% | ||||||||
Bahrain Government International Bond | ||||||||
5.25%, 01/25/33(c) | 600 | 582,000 | ||||||
5.45%, 09/16/32(b) | 400 | 396,000 | ||||||
5.63%, 09/30/31(b) | 400 | 402,450 | ||||||
6.00%, 09/19/44(b) | 800 | 743,900 | ||||||
6.13%, 08/01/23(b) | 1,000 | 1,075,500 | ||||||
6.75%, 09/20/29(b) | 600 | 659,363 | ||||||
7.00%, 01/26/26(b) | 600 | 688,237 | ||||||
7.00%, 10/12/28(b) | 900 | 1,008,450 | ||||||
7.38%, 05/14/30(b) | 600 | 678,487 | ||||||
CBB International Sukuk Co. 5 SPC, 5.62%, 02/12/24(b) | 600 | 640,238 | ||||||
CBB International Sukuk Co. 7 SPC, 6.88%, 10/05/25(b) | 600 | 694,312 | ||||||
CBB International Sukuk Programme Co. SPC | ||||||||
3.95%, 09/16/27(b) | 500 | 507,344 | ||||||
4.50%, 03/30/27(b) | 400 | 418,325 | ||||||
6.25%, 11/14/24(b) | 400 | 438,950 | ||||||
|
| |||||||
8,933,556 | ||||||||
Bolivia — 0.1% | ||||||||
Bolivian Government International Bond, 4.50%, 03/20/28(b)(g) | 600 | 538,613 | ||||||
|
| |||||||
Brazil — 4.6% | ||||||||
Banco Nacional de Desenvolvimento Economico e Social, 5.75%, 09/26/23(b) | 600 | 663,113 | ||||||
Brazilian Government International Bond | ||||||||
2.88%, 06/06/25(g) | 1,000 | 1,021,000 | ||||||
3.88%, 06/12/30(g) | 1,900 | 1,882,544 | ||||||
4.25%, 01/07/25 | 2,148 | 2,317,558 |
SCHEDULE OF INVESTMENTS | 33 |
Schedule of Investments (unaudited) (continued) April 30, 2021 | iShares® J.P. Morgan EM High Yield Bond ETF (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||
Brazil (continued) | ||||||||
4.50%, 05/30/29 (Call 02/28/29) | $ | 1,000 | $ | 1,053,000 | ||||
4.63%, 01/13/28 (Call 10/13/27)(g) | 1,600 | 1,715,300 | ||||||
4.75%, 01/14/50 (Call 07/14/49) | 1,650 | 1,545,637 | ||||||
5.00%, 01/27/45(g) | 1,726 | 1,684,252 | ||||||
5.63%, 01/07/41(g) | 1,117 | 1,190,164 | ||||||
5.63%, 02/21/47 | 1,500 | 1,575,750 | ||||||
6.00%, 04/07/26 | 1,214 | 1,412,261 | ||||||
7.13%, 01/20/37(g) | 860 | 1,079,999 | ||||||
8.25%, 01/20/34 | 750 | 1,019,906 | ||||||
8.88%, 04/15/24 | 520 | 639,535 | ||||||
|
| |||||||
18,800,019 | ||||||||
Costa Rica — 0.5% | ||||||||
Costa Rica Government International Bond | ||||||||
6.13%, 02/19/31(b)(g) | 600 | 624,112 | ||||||
7.00%, 04/04/44(b) | 662 | 677,847 | ||||||
7.16%, 03/12/45(b) | 600 | 620,175 | ||||||
|
| |||||||
1,922,134 | ||||||||
Dominican Republic — 3.0% | ||||||||
Dominican Republic International Bond | ||||||||
4.50%, 01/30/30(b) | 1,050 | 1,088,588 | ||||||
4.88%, 09/23/32(b) | 1,650 | 1,726,312 | ||||||
5.30%, 01/21/41(c) | 700 | 711,069 | ||||||
5.30%, 01/21/41(b) | 150 | 152,372 | ||||||
5.50%, 01/27/25(b) | 625 | 690,156 | ||||||
5.88%, 01/30/60(b) | 1,700 | 1,687,569 | ||||||
5.95%, 01/25/27(b) | 950 | 1,078,250 | ||||||
6.00%, 07/19/28(b) | 600 | 687,000 | ||||||
6.40%, 06/05/49(b) | 750 | 812,719 | ||||||
6.50%, 02/15/48(b) | 450 | 493,116 | ||||||
6.85%, 01/27/45(b) | 1,140 | 1,293,757 | ||||||
6.88%, 01/29/26(b) | 800 | 934,900 | ||||||
7.45%, 04/30/44(b) | 800 | 964,400 | ||||||
|
| |||||||
12,320,208 | ||||||||
Ecuador — 1.5% | ||||||||
Ecuador Government International Bond | ||||||||
0.00%, 07/31/30(b)(i) | 591 | 323,779 | ||||||
0.50%, 07/31/30(b)(d) | 1,952 | 1,634,884 | ||||||
0.50%, 07/31/35(b)(d) | 4,450 | 3,025,444 | ||||||
0.50%, 07/31/40(b)(d) | 1,750 | 1,034,687 | ||||||
|
| |||||||
6,018,794 | ||||||||
Egypt — 3.0% | ||||||||
Egypt Government International Bond | ||||||||
5.58%, 02/21/23(b) | 800 | 835,400 | ||||||
5.75%, 05/29/24(b) | 600 | 634,800 | ||||||
5.88%, 06/11/25(b) | 800 | 848,900 | ||||||
5.88%, 02/16/31(c) | 800 | 769,000 | ||||||
6.59%, 02/21/28(b) | 614 | 636,756 | ||||||
7.05%, 01/15/32(b) | 600 | 614,175 | ||||||
7.50%, 01/31/27(b) | 1,000 | 1,099,250 | ||||||
7.50%, 02/16/61(c) | 800 | 739,000 | ||||||
7.60%, 03/01/29(b) | 1,000 | 1,083,000 | ||||||
7.63%, 05/29/32(b) | 800 | 845,900 | ||||||
7.90%, 02/21/48(b) | 800 | 783,650 | ||||||
8.50%, 01/31/47(b) | 1,300 | 1,341,681 | ||||||
8.70%, 03/01/49(b) | 800 | 835,150 | ||||||
8.88%, 05/29/50(b) | 1,000 | 1,052,063 | ||||||
|
| |||||||
12,118,725 |
Security | Par (000) | Value | ||||||
El Salvador — 0.4% | ||||||||
El Salvador Government International Bond | ||||||||
7.12%, 01/20/50 (Call 07/20/49)(b) | $ | 700 | $ | 663,031 | ||||
7.65%, 06/15/35(b) | 600 | 629,813 | ||||||
9.50%, 07/15/52 (Call 01/15/52)(b) | 400 | 451,875 | ||||||
|
| |||||||
1,744,719 | ||||||||
Ethiopia — 0.1% | ||||||||
Ethiopia International Bond, 6.63%, 12/11/24(b) | 600 | 573,300 | ||||||
|
| |||||||
Gabon — 0.1% | ||||||||
Gabon Government International Bond, 6.63%, 02/06/31(b) | 600 | 603,113 | ||||||
|
| |||||||
Ghana — 1.4% | ||||||||
Ghana Government International Bond | ||||||||
6.38%, 02/11/27(b) | 600 | 595,425 | ||||||
7.63%, 05/16/29(b) | 600 | 607,425 | ||||||
7.75%, 04/07/29(c) | 400 | 409,000 | ||||||
7.88%, 02/11/35(b) | 400 | 391,950 | ||||||
8.13%, 01/18/26(b) | 470 | 501,960 | ||||||
8.13%, 03/26/32(b) | 900 | 904,669 | ||||||
8.63%, 04/07/34(c) | 600 | 617,812 | ||||||
8.63%, 06/16/49(b) | 400 | 387,325 | ||||||
8.95%, 03/26/51(b) | 500 | 494,469 | ||||||
10.75%, 10/14/30(b) | 600 | 757,237 | ||||||
|
| |||||||
5,667,272 | ||||||||
Guatemala — 0.2% | ||||||||
Guatemala Government Bond, 6.13%, 06/01/50(Call 12/01/49)(b) | 700 | 840,131 | ||||||
|
| |||||||
Iraq — 0.4% | ||||||||
Iraq International Bond | ||||||||
5.80%, 01/15/28 (Call 06/14/21)(b) | 1,531 | 1,476,029 | ||||||
6.75%, 03/09/23(b) | 200 | 203,913 | ||||||
|
| |||||||
1,679,942 | ||||||||
Ivory Coast — 0.2% | ||||||||
Ivory Coast Government International Bond, 6.13%, 06/15/33(b) | 600 | 635,363 | ||||||
|
| |||||||
Jamaica — 0.8% | ||||||||
Jamaica Government International Bond | ||||||||
6.75%, 04/28/28 | 800 | 947,400 | ||||||
7.88%, 07/28/45 | 900 | 1,246,219 | ||||||
8.00%, 03/15/39(g) | 700 | 983,631 | ||||||
|
| |||||||
3,177,250 | ||||||||
Jordan — 0.5% | ||||||||
Jordan Government International Bond | ||||||||
5.75%, 01/31/27(b) | 400 | 424,700 | ||||||
5.85%, 07/07/30(b) | 700 | 723,406 | ||||||
6.13%, 01/29/26(b) | 400 | 432,575 | ||||||
7.38%, 10/10/47(b) | 600 | 629,363 | ||||||
|
| |||||||
2,210,044 | ||||||||
Kenya — 0.7% | ||||||||
Kenya Government International Bond | ||||||||
6.88%, 06/24/24(b) | 1,200 | 1,327,350 | ||||||
7.25%, 02/28/28(b) | 400 | 432,450 | ||||||
8.00%, 05/22/32(b) | 600 | 656,362 | ||||||
8.25%, 02/28/48(b) | 600 | 641,175 | ||||||
|
| |||||||
3,057,337 | ||||||||
Lebanon — 0.1% | ||||||||
Lebanon Government International Bond 6.00%, 01/27/23(b)(j)(k) | 500 | 62,750 |
34 | 2 0 2 1 I SHARES SEMI - ANNUAL REPORT TO SHAREHOLDERS |
Schedule of Investments (unaudited) (continued) April 30, 2021 | iShares® J.P. Morgan EM High Yield Bond ETF (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||
Lebanon (continued) | ||||||||
6.10%, 10/04/22(b)(j)(k) | $ | 700 | $ | 87,194 | ||||
6.60%, 11/27/26(b)(j) | 700 | 90,037 | ||||||
6.65%, 02/26/30(b)(j) | 640 | 80,920 | ||||||
6.75%, 11/29/27(b)(j) | 500 | 63,062 | ||||||
6.85%, 03/23/27(b)(j) | 650 | 82,591 | ||||||
7.00%, 03/23/32(b)(j) | 500 | 62,750 | ||||||
|
| |||||||
529,304 | ||||||||
Malaysia — 0.5% | ||||||||
1MDB Global Investments Ltd., 4.40%, 03/09/23(b) | 2,000 | 2,017,500 | ||||||
|
| |||||||
Morocco — 0.3% | ||||||||
Morocco Government International Bond | ||||||||
3.00%, 12/15/32(b) | 600 | 569,812 | ||||||
4.00%, 12/15/50(b) | 600 | 539,813 | ||||||
|
| |||||||
1,109,625 | ||||||||
Nigeria — 1.3% | ||||||||
Nigeria Government International Bond | ||||||||
6.50%, 11/28/27(b) | 800 | 843,400 | ||||||
7.14%, 02/23/30(b) | 714 | 755,412 | ||||||
7.63%, 11/21/25(b) | 500 | 567,438 | ||||||
7.63%, 11/28/47(b) | 800 | 802,150 | ||||||
7.70%, 02/23/38(b) | 600 | 616,050 | ||||||
7.88%, 02/16/32(b) | 800 | 858,400 | ||||||
8.75%, 01/21/31(b) | 600 | 683,737 | ||||||
|
| |||||||
5,126,587 | ||||||||
Oman — 3.3% | ||||||||
Oman Government International Bond | ||||||||
4.75%, 06/15/26(b) | 2,100 | 2,175,206 | ||||||
4.88%, 02/01/25(b) | 200 | 209,475 | ||||||
5.38%, 03/08/27(b) | 200 | 207,913 | ||||||
5.63%, 01/17/28(b) | 2,000 | 2,097,500 | ||||||
6.00%, 08/01/29(b) | 1,400 | 1,482,950 | ||||||
6.25%, 01/25/31(c) | 800 | 859,000 | ||||||
6.25%, 01/25/31(b) | 200 | 214,750 | ||||||
6.50%, 03/08/47(b) | 1,000 | 973,000 | ||||||
6.75%, 10/28/27(b) | 400 | 448,375 | ||||||
6.75%, 01/17/48(b) | 1,400 | 1,397,638 | ||||||
7.00%, 01/25/51(c) | 400 | 408,875 | ||||||
7.38%, 10/28/32(b) | 800 | 910,000 | ||||||
Oman Sovereign Sukuk Co. | ||||||||
4.40%, 06/01/24(b) | 600 | 624,060 | ||||||
5.93%, 10/31/25(b) | 1,400 | 1,546,562 | ||||||
|
| |||||||
13,555,304 | ||||||||
Pakistan — 0.6% | ||||||||
Pakistan Government International Bond | ||||||||
6.00%, 04/08/26(c) | 400 | 411,000 | ||||||
6.88%, 12/05/27(b) | 800 | 835,150 | ||||||
7.38%, 04/08/31(c) | 600 | 630,000 | ||||||
8.25%, 04/15/24(b) | 477 | 523,448 | ||||||
|
| |||||||
2,399,598 | ||||||||
Paraguay — 0.4% | ||||||||
Paraguay Government International Bond | ||||||||
4.95%, 04/28/31 (Call 01/28/31)(b) | 400 | 449,075 | ||||||
5.40%, 03/30/50 (Call 09/30/49)(b) | 600 | 675,863 | ||||||
6.10%, 08/11/44(b) | 600 | 718,987 | ||||||
|
| |||||||
1,843,925 |
Security | Par (000) | Value | ||||||
Senegal — 0.3% | ||||||||
Senegal Government International Bond | ||||||||
6.25%, 05/23/33(b) | $ | 700 | $ | 730,537 | ||||
6.75%, 03/13/48(b) | 400 | 401,450 | ||||||
|
| |||||||
1,131,987 | ||||||||
Serbia — 0.2% | ||||||||
Serbia International Bond, 2.13%, 12/01/30(b) | 735 | 677,716 | ||||||
|
| |||||||
South Africa — 2.3% | ||||||||
Republic of South Africa Government International Bond | ||||||||
4.30%, 10/12/28 | 1,000 | 1,004,562 | ||||||
4.67%, 01/17/24(g) | 600 | 640,800 | ||||||
4.85%, 09/27/27 | 600 | 632,737 | ||||||
4.85%, 09/30/29 | 1,100 | 1,136,644 | ||||||
4.88%, 04/14/26 | 804 | 856,411 | ||||||
5.00%, 10/12/46 | 600 | 539,550 | ||||||
5.38%, 07/24/44 | 700 | 665,350 | ||||||
5.65%, 09/27/47 | 600 | 576,488 | ||||||
5.75%, 09/30/49 | 1,500 | 1,441,687 | ||||||
5.88%, 09/16/25(g) | 986 | 1,097,418 | ||||||
5.88%, 06/22/30(g) | 800 | 882,400 | ||||||
|
| |||||||
9,474,047 | ||||||||
Sri Lanka — 0.9% | ||||||||
Sri Lanka Government International Bond | ||||||||
5.75%, 04/18/23(b) | 600 | 433,612 | ||||||
6.20%, 05/11/27(b) | 600 | 389,363 | ||||||
6.75%, 04/18/28(b) | 700 | 454,475 | ||||||
6.83%, 07/18/26(b) | 600 | 392,550 | ||||||
6.85%, 03/14/24(b) | 700 | 484,444 | ||||||
6.85%, 11/03/25(b) | 700 | 463,006 | ||||||
7.55%, 03/28/30(b) | 800 | 519,400 | ||||||
7.85%, 03/14/29(b) | 700 | 454,912 | ||||||
|
| |||||||
3,591,762 | ||||||||
Trinidad And Tobago — 0.1% | ||||||||
Trinidad & Tobago Government International Bond, 4.50%, 08/04/26(b)(g) | 400 | 424,950 | ||||||
|
| |||||||
Tunisia — 0.1% | ||||||||
Banque Centrale de Tunisie International Bond, 5.75%, 01/30/25(b) | 600 | 559,988 | ||||||
|
| |||||||
Turkey — 8.1% | ||||||||
Hazine Mustesarligi Varlik Kiralama AS | ||||||||
4.49%, 11/25/24(b) | 200 | 200,975 | ||||||
5.00%, 04/06/23(b) | 1,000 | 1,010,812 | ||||||
Turkey Government International Bond | ||||||||
3.25%, 03/23/23 | 700 | 685,913 | ||||||
4.25%, 03/13/25 | 1,000 | 959,250 | ||||||
4.25%, 04/14/26 | 800 | 746,650 | ||||||
4.75%, 01/26/26 | 1,000 | 959,687 | ||||||
4.88%, 10/09/26 | 1,510 | 1,440,446 | ||||||
4.88%, 04/16/43 | 1,579 | 1,217,113 | ||||||
5.13%, 02/17/28(g) | 1,000 | 940,500 | ||||||
5.25%, 03/13/30 | 1,000 | 915,813 | ||||||
5.60%, 11/14/24 | 1,300 | 1,307,150 | ||||||
5.75%, 03/22/24 | 1,450 | 1,471,569 | ||||||
5.75%, 05/11/47 | 1,826 | 1,501,657 | ||||||
5.88%, 06/26/31 | 900 | 843,469 | ||||||
5.95%, 01/15/31 | 1,200 | 1,130,625 | ||||||
6.00%, 03/25/27 | 1,721 | 1,710,566 | ||||||
6.00%, 01/14/41(g) | 1,503 | 1,315,407 | ||||||
6.13%, 10/24/28 | 1,000 | 985,812 |
SCHEDULE OF INVESTMENTS | 35 |
Schedule of Investments (unaudited) (continued) April 30, 2021 | iShares® J.P. Morgan EM High Yield Bond ETF (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||
Turkey (continued) | ||||||||
6.35%, 08/10/24(g) | $ | 1,150 | $ | 1,182,200 | ||||
6.38%, 10/14/25 | 1,400 | 1,431,762 | ||||||
6.63%, 02/17/45 | 1,679 | 1,542,371 | ||||||
6.75%, 05/30/40 | 975 | 928,261 | ||||||
6.88%, 03/17/36(g) | 1,491 | 1,460,528 | ||||||
7.25%, 12/23/23 | 1,000 | 1,057,375 | ||||||
7.25%, 03/05/38 | 550 | 557,666 | ||||||
7.38%, 02/05/25 | 1,770 | 1,880,404 | ||||||
7.63%, 04/26/29(g) | 1,600 | 1,700,300 | ||||||
8.00%, 02/14/34 | 713 | 776,858 | ||||||
11.88%, 01/15/30(g) | 800 | 1,075,400 | ||||||
|
| |||||||
32,936,539 | ||||||||
Ukraine — 2.0% | ||||||||
Ukraine Government International Bond | ||||||||
6.88%, 05/21/29(c) | 600 | 601,200 | ||||||
7.25%, 03/15/33(b) | 1,300 | 1,302,681 | ||||||
7.38%, 09/25/32(b) | 1,500 | 1,513,406 | ||||||
7.75%, 09/01/23(b) | 675 | 718,580 | ||||||
7.75%, 09/01/24(b) | 518 | 555,814 | ||||||
7.75%, 09/01/25(b) | 736 | 791,108 | ||||||
7.75%, 09/01/26(b) | 800 | 860,400 | ||||||
7.75%, 09/01/27(b) | 800 | 857,650 | ||||||
9.75%, 11/01/28(b) | 1,000 | 1,157,688 | ||||||
|
| |||||||
8,358,527 | ||||||||
United Arab Emirates — 0.3% | ||||||||
Emirate of Dubai Government International Bonds | ||||||||
3.90%, 09/09/50(b) | 800 | 736,000 | ||||||
5.25%, 01/30/43(b) | 400 | 439,450 | ||||||
|
| |||||||
1,175,450 | ||||||||
Vietnam — 0.2% | ||||||||
Vietnam Government International Bond, 4.80%, 11/19/24(b) | 600 | 670,425 | ||||||
|
| |||||||
Zambia — 0.2% | ||||||||
Zambia Government International Bond | ||||||||
8.50%, 04/14/24(b)(j)(k) | 600 | 369,000 | ||||||
8.97%, 07/30/27(b)(j) | 600 | 361,237 | ||||||
|
| |||||||
730,237 | ||||||||
|
| |||||||
Total Foreign Government Obligations — 45.3% |
| 184,945,722 | ||||||
|
|
Security | Shares (000) | Value | ||||||
Short-Term Investments | ||||||||
Money Market Funds — 8.7% | ||||||||
BlackRock Cash Funds: Institutional, SL Agency Shares, 0.08%(l)(m)(n) | 30,101 | $ | 30,116,504 | |||||
BlackRock Cash Funds: Treasury, SL Agency Shares, 0.00%(l)(m) | 5,449 | 5,449,000 | ||||||
|
| |||||||
35,565,504 | ||||||||
|
| |||||||
Total Short-Term Investments — 8.7% | 35,565,504 | |||||||
|
| |||||||
Total Investments in Securities — 106.4% | 434,412,744 | |||||||
Other Assets, Less Liabilities — (6.4)% | (26,199,480 | ) | ||||||
|
| |||||||
Net Assets — 100.0% | $ | 408,213,264 | ||||||
|
|
(a) | U.S. dollar denominated security issued by foreign domiciled entity. |
(b) | This security may be resold to qualified foreign investors and foreign institutional buyers under Regulation S of the Securities Act of 1933. |
(c) | Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration to qualified institutional investors. |
(d) | 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) | Variable rate security. Interest rate resets periodically. The rate shown is the effective interest rate as of period end. Security description also includes the reference rate and spread if published and available. |
(f) | Perpetual security with no stated maturity date. |
(g) | All or a portion of this security is on loan. |
(h) | Payment-in-kind (“PIK”) bond which gives the issuer an option to make coupon payments in cash or in the form of additional bonds. Stated interest rate represents the cash coupon rate. |
(i) | Zero-coupon bond. |
(j) | Issuer filed for bankruptcy and/or is in default. |
(k) | Non-income producing security. |
(l) | Affiliate of the Fund. |
(m) | Annualized 7-day yield as of period-end. |
(n) | All or a portion of this security was purchased with cash collateral received from loaned securities. |
Affiliates
Investments in issuers considered to be affiliate(s) of the Fund during the six months ended April 30, 2021 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:
| ||||||||||||||||||||||||||||||||||||
Affiliated Issuer | Value at 10/31/20 | Purchases at Cost | Proceeds from Sales | Net Realized Gain (Loss) | Change in Unrealized Appreciation (Depreciation) | Value at 04/30/21 | Shares Held at 04/30/21 (000) | Income | Capital Gain Distributions from | |||||||||||||||||||||||||||
| ||||||||||||||||||||||||||||||||||||
BlackRock Cash Funds: Institutional, SL Agency Shares | $ | 17,259,777 | $ | 12,861,825 | (a) | $ | — | $ | (4,481 | ) | $ | (617 | ) | $ | 30,116,504 | 30,101 | $ | 50,698 | (b) | $ | — | |||||||||||||||
BlackRock Cash Funds: Treasury, SL Agency Shares | 4,109,000 | 1,340,000 | (a) | — | — | — | 5,449,000 | 5,449 | 444 | — | ||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||||||||||||||||||
$ | (4,481 | ) | $ | (617 | ) | $ | 35,565,504 | $ | 51,142 | $ | — | |||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
(a) | Represents net amount purchased (sold). |
(b) | All or a portion represents securities lending income earned from the reinvestment of cash collateral from loaned securities, net of fees and collateral investment expenses, and other payments to and from borrowers of securities. |
36 | 2 0 2 1 I SHARES SEMI - ANNUAL REPORT TO SHAREHOLDERS |
Schedule of Investments (unaudited) (continued) April 30, 2021 | iShares® J.P. Morgan EM High Yield Bond ETF |
Fair Value Measurements
Various inputs are used in determining the fair value of financial instruments. For description of the input levels and information about the Fund’s policy regarding valuation of financial instruments, refer to the Notes to Financial Statements.
The following table summarizes the value of the Fund’s investments according to the fair value hierarchy as of April 30, 2021. The breakdown of the Fund’s investments into major categories is disclosed in the Schedule of Investments above.
| ||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
| ||||||||||||||||
Investments | ||||||||||||||||
Assets | ||||||||||||||||
Corporate Bonds & Notes | $ | — | $ | 213,901,518 | $ | — | $ | 213,901,518 | ||||||||
Foreign Government Obligations | — | 184,945,722 | — | 184,945,722 | ||||||||||||
Money Market Funds | 35,565,504 | — | — | 35,565,504 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
$ | 35,565,504 | $ | 398,847,240 | $ | — | $ | 434,412,744 | |||||||||
|
|
|
|
|
|
|
|
See notes to financial statements.
SCHEDULE OF INVESTMENTS | 37 |
Schedule of Investments (unaudited) April 30, 2021 | iShares® J.P. Morgan EM Local Currency Bond ETF (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||||||
Foreign Government Obligations |
| |||||||||||
Brazil — 5.1% | ||||||||||||
Brazil Letras do Tesouro Nacional | ||||||||||||
0.00%, 07/01/22(a) | BRL | 11,000 | $ | 1,901,214 | ||||||||
0.00%, 07/01/23(a) | BRL | 21,000 | 3,338,072 | |||||||||
0.00%, 01/01/24(a) | BRL | 41,697 | 6,339,285 | |||||||||
0.00%, 07/01/24(a) | BRL | 2,000 | 290,908 | |||||||||
Brazil Notas do Tesouro Nacional | ||||||||||||
Series F, 10.00%, 01/01/23 | BRL | 19,557 | 3,798,732 | |||||||||
Series F, 10.00%, 01/01/25 | BRL | 16,399 | 3,220,653 | |||||||||
Series F, 10.00%, 01/01/27 | BRL | 15,193 | 2,980,478 | |||||||||
Series F, 10.00%, 01/01/29 | BRL | 9,263 | 1,809,000 | |||||||||
Series F, 10.00%, 01/01/31 | BRL | 3,000 | 583,702 | |||||||||
Brazilian Government International Bond | ||||||||||||
8.50%, 01/05/24 | BRL | 500 | 95,992 | |||||||||
10.25%, 01/10/28 | BRL | 1,420 | 278,098 | |||||||||
|
| |||||||||||
24,636,134 | ||||||||||||
Chile — 4.3% | ||||||||||||
Bonos de la Tesoreria de la Republica en pesos |
| |||||||||||
2.30%, 10/01/28(b)(c) | CLP | 610,000 | 785,355 | |||||||||
2.50%, 03/01/25 | CLP | 3,400,000 | 4,785,236 | |||||||||
4.00%, 03/01/23(b)(c) | CLP | 1,180,000 | 1,737,419 | |||||||||
4.50%, 03/01/26 | CLP | 2,275,000 | 3,448,322 | |||||||||
4.70%, 09/01/30(b)(c) | CLP | 1,985,000 | 2,983,320 | |||||||||
5.00%, 03/01/35 | CLP | 2,510,000 | 3,788,415 | |||||||||
6.00%, 01/01/43 | CLP | 2,120,000 | 3,574,986 | |||||||||
|
| |||||||||||
21,103,053 | ||||||||||||
China — 14.8% | ||||||||||||
China Government Bond | ||||||||||||
1.99%, 04/09/25 | CNY | 30,170 | 4,488,836 | |||||||||
2.36%, 07/02/23 | CNY | 24,400 | 3,739,099 | |||||||||
2.68%, 05/21/30 | CNY | 37,290 | 5,520,192 | |||||||||
2.85%, 06/04/27 | CNY | 36,530 | 5,558,620 | |||||||||
2.88%, 11/05/23 | CNY | 20,720 | 3,209,040 | |||||||||
2.94%, 10/17/24 | CNY | 20,370 | 3,156,630 | |||||||||
3.02%, 10/22/25 | CNY | 28,590 | 4,427,291 | |||||||||
3.12%, 12/05/26 | CNY | 28,160 | 4,374,722 | |||||||||
3.13%, 11/21/29 | CNY | 28,340 | 4,358,253 | |||||||||
3.19%, 04/11/24 | CNY | 25,880 | 4,044,996 | |||||||||
3.22%, 12/06/25 | CNY | 19,120 | 2,986,962 | |||||||||
3.25%, 06/06/26 | CNY | 30,500 | 4,773,270 | |||||||||
3.25%, 11/22/28 | CNY | 24,250 | 3,770,177 | |||||||||
3.27%, 11/19/30 | CNY | 26,640 | 4,151,547 | |||||||||
3.28%, 12/03/27 | CNY | 14,490 | 2,258,461 | |||||||||
3.29%, 10/18/23 | CNY | 15,880 | 2,490,980 | |||||||||
3.29%, 05/23/29 | CNY | 33,540 | 5,212,115 | |||||||||
3.81%, 09/14/50 | CNY | 20,000 | 3,145,204 | |||||||||
|
| |||||||||||
71,666,395 | ||||||||||||
Colombia — 4.2% | ||||||||||||
Colombia Government International Bond, 9.85%, 06/28/27 | COP | 745,000 | 238,645 | |||||||||
Colombian TES | ||||||||||||
5.75%, 11/03/27 | COP | 4,792,500 | 1,247,227 | |||||||||
6.00%, 04/28/28 | COP | 10,020,200 | 2,618,962 | |||||||||
6.25%, 11/26/25 | COP | 6,352,200 | 1,764,996 | |||||||||
7.00%, 05/04/22 | COP | 7,868,900 | 2,202,889 | |||||||||
7.00%, 06/30/32 | COP | 8,141,500 | 2,130,193 | |||||||||
7.25%, 10/18/34 | COP | 8,410,300 | 2,206,234 | |||||||||
7.25%, 10/26/50 | COP | 3,449,500 | 829,407 | |||||||||
7.50%, 08/26/26 | COP | 9,267,600 | 2,677,815 |
Security | Par (000) | Value | ||||||||||
Colombia (continued) | ||||||||||||
7.75%, 09/18/30 | COP | 6,250,100 | $ | 1,757,711 | ||||||||
10.00%, 07/24/24 | COP | 7,982,800 | 2,483,478 | |||||||||
|
| |||||||||||
20,157,557 | ||||||||||||
Czech Republic — 4.5% | ||||||||||||
Czech Republic Government Bond | ||||||||||||
0.05%, 11/29/29 | CZK | 13,580 | 550,961 | |||||||||
0.25%, 02/10/27 | CZK | 51,150 | 2,215,811 | |||||||||
0.45%, 10/25/23(c) | CZK | 37,560 | 1,725,408 | |||||||||
0.95%, 05/15/30(c) | CZK | 44,610 | 1,939,635 | |||||||||
1.00%, 06/26/26(c) | CZK | 47,400 | 2,156,754 | |||||||||
1.20%, 03/13/31 | CZK | 28,510 | 1,257,852 | |||||||||
2.00%, 10/13/33 | CZK | 49,240 | 2,316,376 | |||||||||
2.40%, 09/17/25(c) | CZK | 37,230 | 1,811,489 | |||||||||
2.50%, 08/25/28(c) | CZK | 46,550 | 2,294,753 | |||||||||
2.75%, 07/23/29 | CZK | 36,520 | 1,840,139 | |||||||||
4.20%, 12/04/36(c) | CZK | 14,830 | 886,770 | |||||||||
4.70%, 09/12/22(c) | CZK | 26,620 | 1,307,628 | |||||||||
5.70%, 05/25/24(c) | CZK | 29,650 | 1,573,313 | |||||||||
|
| |||||||||||
21,876,889 | ||||||||||||
Dominican Republic — 4.3% | ||||||||||||
Dominican Republic International Bond | ||||||||||||
8.90%, 02/15/23(c) | DOP | 409,700 | 7,452,035 | |||||||||
9.75%, 06/05/26(c) | DOP | 705,000 | 13,527,567 | |||||||||
|
| |||||||||||
20,979,602 | ||||||||||||
Hungary — 4.5% | ||||||||||||
Hungary Government Bond | ||||||||||||
1.00%, 11/26/25 | HUF | 501,630 | 1,634,527 | |||||||||
1.50%, 08/23/23 | HUF | 293,560 | 994,352 | |||||||||
1.50%, 04/22/26 | HUF | 344,200 | 1,139,339 | |||||||||
1.75%, 10/26/22 | HUF | 260,890 | 888,043 | |||||||||
2.00%, 05/23/29 | HUF | 142,860 | 475,050 | |||||||||
2.25%, 04/20/33 | HUF | 148,620 | 470,756 | |||||||||
2.50%, 10/24/24 | HUF | 492,490 | 1,713,045 | |||||||||
2.75%, 12/22/26 | HUF | 460,210 | 1,617,932 | |||||||||
3.00%, 06/26/24 | HUF | 388,310 | 1,367,935 | |||||||||
3.00%, 10/27/27 | HUF | 420,280 | 1,500,745 | |||||||||
3.00%, 08/21/30 | HUF | 518,860 | 1,830,332 | |||||||||
3.00%, 10/27/38 | HUF | 170,920 | 552,407 | |||||||||
3.25%, 10/22/31 | HUF | 590,410 | 2,105,289 | |||||||||
5.50%, 06/24/25 | HUF | 491,850 | 1,906,341 | |||||||||
6.00%, 11/24/23 | HUF | 368,890 | 1,386,733 | |||||||||
6.75%, 10/22/28 | HUF | 293,660 | 1,302,694 | |||||||||
7.00%, 06/24/22 | HUF | 244,730 | 877,724 | |||||||||
|
| |||||||||||
21,763,244 | ||||||||||||
Indonesia — 6.6% | ||||||||||||
Indonesia Treasury Bond | ||||||||||||
5.50%, 04/15/26 | IDR | 16,486,000 | 1,132,164 | |||||||||
5.63%, 05/15/23 | IDR | 17,942,000 | 1,260,722 | |||||||||
6.13%, 05/15/28 | IDR | 20,510,000 | 1,410,639 | |||||||||
6.25%, 06/15/36 | IDR | 3,704,000 | 250,395 | |||||||||
6.50%, 06/15/25 | IDR | 22,821,000 | 1,635,150 | |||||||||
6.50%, 02/15/31 | IDR | 17,484,000 | 1,210,384 | |||||||||
6.63%, 05/15/33 | IDR | 16,767,000 | 1,152,042 | |||||||||
7.00%, 05/15/22 | IDR | 16,840,000 | 1,201,941 | |||||||||
7.00%, 05/15/27 | IDR | 19,284,000 | 1,403,080 | |||||||||
7.00%, 09/15/30 | IDR | 24,440,000 | 1,746,923 | |||||||||
7.50%, 08/15/32 | IDR | 8,278,000 | 598,858 | |||||||||
7.50%, 06/15/35 | IDR | 18,141,000 | 1,293,135 | |||||||||
7.50%, 05/15/38 | IDR | 12,212,000 | 865,281 |
38 | 2 0 2 1 I SHARES SEMI - ANNUAL REPORT TO SHAREHOLDERS |
Schedule of Investments (unaudited) (continued) April 30, 2021 | iShares® J.P. Morgan EM Local Currency Bond ETF (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||||||
Indonesia (continued) | ||||||||||||
7.50%, 04/15/40 | IDR | 14,496,000 | $ | 1,031,328 | ||||||||
8.13%, 05/15/24 | IDR | 15,737,000 | 1,179,322 | |||||||||
8.25%, 05/15/29 | IDR | 18,380,000 | 1,414,923 | |||||||||
8.25%, 06/15/32 | IDR | 8,396,000 | 640,235 | |||||||||
8.25%, 05/15/36 | IDR | 15,390,000 | 1,166,636 | |||||||||
8.38%, 03/15/24 | IDR | 23,379,000 | 1,756,055 | |||||||||
8.38%, 09/15/26 | IDR | 20,703,000 | 1,597,334 | |||||||||
8.38%, 03/15/34 | IDR | 26,852,000 | 2,054,099 | |||||||||
8.38%, 04/15/39 | IDR | 10,957,000 | 838,178 | |||||||||
8.75%, 05/15/31 | IDR | 10,916,000 | 866,025 | |||||||||
9.00%, 03/15/29 | IDR | 15,709,000 | 1,257,155 | |||||||||
9.50%, 07/15/31 | IDR | 5,720,000 | 472,608 | |||||||||
10.50%, 08/15/30 | IDR | 3,789,000 | 330,505 | |||||||||
11.00%, 09/15/25 | IDR | 2,856,000 | 236,863 | |||||||||
Perusahaan Penerbit SBSN Indonesia | ||||||||||||
6.63%, 10/15/24 | IDR | 11,181,000 | 801,615 | |||||||||
8.25%, 09/15/23 | IDR | 8,832,000 | 650,410 | |||||||||
8.88%, 11/15/31 | IDR | 8,608,000 | 685,303 | |||||||||
|
| |||||||||||
32,139,308 | ||||||||||||
Malaysia — 4.4% | ||||||||||||
Malaysia Government Bond | ||||||||||||
2.63%, 04/15/31 | MYR | 1,450 | 338,324 | |||||||||
3.48%, 03/15/23 | MYR | 3,901 | 975,488 | |||||||||
3.48%, 06/14/24 | MYR | 1,666 | 419,937 | |||||||||
3.50%, 05/31/27 | MYR | 4,190 | 1,055,022 | |||||||||
3.73%, 06/15/28 | MYR | 2,777 | 709,592 | |||||||||
3.76%, 04/20/23 | MYR | 1,950 | 490,666 | |||||||||
3.76%, 05/22/40 | MYR | 3,116 | 720,151 | |||||||||
3.80%, 08/17/23 | MYR | 1,841 | 465,261 | |||||||||
3.83%, 07/05/34 | MYR | 4,509 | 1,097,446 | |||||||||
3.89%, 08/15/29 | MYR | 5,123 | 1,314,962 | |||||||||
3.90%, 11/30/26 | MYR | 2,291 | 595,435 | |||||||||
3.90%, 11/16/27 | MYR | 3,857 | 994,303 | |||||||||
3.91%, 07/15/26 | MYR | 2,769 | 714,637 | |||||||||
3.96%, 09/15/25 | MYR | 5,406 | 1,394,711 | |||||||||
4.06%, 09/30/24 | MYR | 1,945 | 499,675 | |||||||||
4.07%, 06/15/50 | MYR | 2,159 | 500,432 | |||||||||
4.18%, 07/15/24 | MYR | 2,543 | 653,877 | |||||||||
4.76%, 04/07/37 | MYR | 3,424 | 899,890 | |||||||||
Malaysia Government Investment Issue | ||||||||||||
3.15%, 05/15/23 | MYR | 2,423 | 602,822 | |||||||||
3.42%, 09/30/27 | MYR | 2,242 | 558,017 | |||||||||
3.47%, 10/15/30 | MYR | 3,334 | 827,047 | |||||||||
3.66%, 10/15/24 | MYR | 2,709 | 687,091 | |||||||||
3.73%, 03/31/22 | MYR | 979 | 242,886 | |||||||||
3.73%, 03/31/26 | MYR | 2,700 | 691,585 | |||||||||
3.95%, 04/14/22 | MYR | 2,227 | 553,910 | |||||||||
4.09%, 11/30/23 | MYR | 2,600 | 663,741 | |||||||||
4.13%, 08/15/25 | MYR | 2,835 | 735,572 | |||||||||
4.13%, 07/09/29 | MYR | 3,126 | 812,918 | |||||||||
4.26%, 07/26/27 | MYR | 2,796 | 728,121 | |||||||||
4.37%, 10/31/28 | MYR | 2,392 | 631,471 | |||||||||
|
| |||||||||||
21,574,990 | ||||||||||||
Mexico — 5.5% | ||||||||||||
Mexican Bonos | ||||||||||||
6.75%, 03/09/23 | MXN | 37,700 | 1,927,295 | |||||||||
7.50%, 06/03/27 | MXN | 45,551 | 2,391,994 | |||||||||
8.50%, 05/31/29 | MXN | 43,040 | 2,372,230 | |||||||||
8.50%, 11/18/38 | MXN | 35,105 | 1,875,283 | |||||||||
10.00%, 12/05/24 | MXN | 41,083 | 2,321,137 |
Security | Par (000) | Value | ||||||||||
Mexico (continued) | ||||||||||||
10.00%, 11/20/36 | MXN | 7,423 | $ | 454,873 | ||||||||
Series M, 5.75%, 03/05/26 | MXN | 53,162 | 2,608,314 | |||||||||
Series M, 6.50%, 06/09/22 | MXN | 48,123 | 2,430,983 | |||||||||
Series M, 7.75%, 05/29/31 | MXN | 30,251 | 1,587,091 | |||||||||
Series M, 7.75%, 11/23/34 | MXN | 16,000 | 827,141 | |||||||||
Series M, 7.75%, 11/13/42 | MXN | 36,240 | 1,777,485 | |||||||||
Series M, 8.00%, 12/07/23 | MXN | 38,215 | 2,021,954 | |||||||||
Series M, 8.00%, 09/05/24 | MXN | 41,504 | 2,207,503 | |||||||||
Series M, 8.00%, 11/07/47 | MXN | 34,018 | 1,699,001 | |||||||||
|
| |||||||||||
26,502,284 | ||||||||||||
Peru — 4.4% | ||||||||||||
Peru Government Bond | ||||||||||||
5.35%, 08/12/40 | PEN | 6,251 | 1,449,788 | |||||||||
5.40%, 08/12/34 | PEN | 7,293 | 1,835,555 | |||||||||
5.70%, 08/12/24 | PEN | 4,124 | 1,217,855 | |||||||||
5.94%, 02/12/29 | PEN | 10,405 | 2,981,471 | |||||||||
6.15%, 08/12/32 | PEN | 10,076 | 2,776,897 | |||||||||
6.35%, 08/12/28 | PEN | 10,101 | 2,968,080 | |||||||||
6.90%, 08/12/37 | PEN | 9,834 | 2,763,792 | |||||||||
6.95%, 08/12/31 | PEN | 9,155 | 2,705,971 | |||||||||
8.20%, 08/12/26 | PEN | 7,624 | 2,544,697 | |||||||||
|
| |||||||||||
21,244,106 | ||||||||||||
Philippines — 4.4% | ||||||||||||
Philippine Government International Bond | ||||||||||||
3.90%, 11/26/22 | PHP | 323,000 | 6,753,112 | |||||||||
6.25%, 01/14/36 | PHP | 575,000 | 14,358,786 | |||||||||
|
| |||||||||||
21,111,898 | ||||||||||||
Poland — 4.5% | ||||||||||||
Republic of Poland Government Bond | ||||||||||||
0.75%, 04/25/25 | PLN | 5,675 | 1,506,484 | |||||||||
1.25%, 10/25/30 | PLN | 4,502 | 1,140,337 | |||||||||
2.25%, 04/25/22 | PLN | 6,242 | 1,683,769 | |||||||||
2.25%, 10/25/24 | PLN | 5,569 | 1,559,564 | |||||||||
2.50%, 01/25/23 | PLN | 6,866 | 1,886,068 | |||||||||
2.50%, 04/25/24 | PLN | 5,252 | 1,474,380 | |||||||||
2.50%, 07/25/26 | PLN | 7,175 | 2,045,615 | |||||||||
2.50%, 07/25/27 | PLN | 5,720 | 1,631,016 | |||||||||
2.75%, 04/25/28 | PLN | 6,014 | 1,736,006 | |||||||||
2.75%, 10/25/29 | PLN | 7,426 | 2,139,695 | |||||||||
3.25%, 07/25/25 | PLN | 5,958 | 1,738,034 | |||||||||
4.00%, 10/25/23 | PLN | 5,596 | 1,616,675 | |||||||||
5.75%, 09/23/22 | PLN | 5,053 | 1,438,919 | |||||||||
|
| |||||||||||
21,596,562 | ||||||||||||
Romania — 4.4% | ||||||||||||
Romania Government Bond | ||||||||||||
3.25%, 04/29/24 | RON | 5,155 | 1,291,303 | |||||||||
3.40%, 03/08/22 | RON | 4,470 | 1,104,768 | |||||||||
3.50%, 12/19/22 | RON | 4,350 | 1,085,755 | |||||||||
3.65%, 07/28/25 | RON | 5,715 | 1,457,374 | |||||||||
3.65%, 09/24/31 | RON | 5,415 | 1,362,978 | |||||||||
3.70%, 11/25/24 | RON | 1,890 | 481,389 | |||||||||
4.00%, 10/25/23 | RON | 4,675 | 1,188,523 | |||||||||
4.15%, 01/26/28 | RON | 3,930 | 1,037,285 | |||||||||
4.25%, 06/28/23 | RON | 4,670 | 1,187,696 | |||||||||
4.40%, 09/25/23 | RON | 5,735 | 1,469,716 | |||||||||
4.50%, 06/17/24 | RON | 5,675 | 1,475,615 | |||||||||
4.75%, 02/24/25 | RON | 5,420 | 1,429,801 | |||||||||
4.85%, 04/22/26 | RON | 6,040 | 1,625,340 | |||||||||
5.00%, 02/12/29 | RON | 5,810 | 1,620,973 |
SCHEDULE OF INVESTMENTS | 39 |
Schedule of Investments (unaudited) (continued) April 30, 2021 | iShares® J.P. Morgan EM Local Currency Bond ETF (Percentages shown are based on Net Assets) |
Security |
Par (000) | Value | ||||||||||
Romania (continued) | ||||||||||||
5.80%, 07/26/27 | RON | 6,330 | $ | 1,811,721 | ||||||||
5.85%, 04/26/23 | RON | 5,780 | 1,509,764 | |||||||||
|
| |||||||||||
21,140,001 | ||||||||||||
Russia — 4.3% | ||||||||||||
Russian Federal Bond - OFZ | ||||||||||||
4.50%, 07/16/25 | RUB | 93,143 | 1,154,321 | |||||||||
6.00%, 10/06/27 | RUB | 98,797 | 1,267,712 | |||||||||
6.10%, 07/18/35 | RUB | 15,067 | 182,539 | |||||||||
6.50%, 02/28/24 | RUB | 76,344 | 1,028,316 | |||||||||
6.90%, 05/23/29 | RUB | 82,175 | 1,096,811 | |||||||||
7.00%, 01/25/23 | RUB | 31,480 | 428,423 | |||||||||
7.00%, 08/16/23 | RUB | 56,605 | 771,753 | |||||||||
7.05%, 01/19/28 | RUB | 62,206 | 840,453 | |||||||||
7.10%, 10/16/24 | RUB | 81,631 | 1,116,054 | |||||||||
7.15%, 11/12/25 | RUB | 99,818 | 1,364,549 | |||||||||
7.25%, 05/10/34 | RUB | 91,831 | 1,239,095 | |||||||||
7.40%, 12/07/22 | RUB | 66,524 | 908,681 | |||||||||
7.40%, 07/17/24 | RUB | 67,739 | 932,775 | |||||||||
7.60%, 07/20/22 | RUB | 67,222 | 916,389 | |||||||||
7.65%, 04/10/30 | RUB | 92,124 | 1,286,794 | |||||||||
7.70%, 03/23/33 | RUB | 95,629 | 1,335,332 | |||||||||
7.70%, 03/16/39 | RUB | 73,804 | 1,043,463 | |||||||||
7.75%, 09/16/26 | RUB | 81,116 | 1,135,348 | |||||||||
7.95%, 10/07/26 | RUB | 80,104 | 1,132,854 | |||||||||
8.15%, 02/03/27 | RUB | 74,310 | 1,060,109 | |||||||||
8.50%, 09/17/31 | RUB | 58,340 | 860,550 | |||||||||
|
| |||||||||||
21,102,321 | ||||||||||||
South Africa — 4.4% | ||||||||||||
Republic of South Africa Government Bond | ||||||||||||
6.25%, 03/31/36 | ZAR | 17,427 | 801,904 | |||||||||
6.50%, 02/28/41 | ZAR | 13,465 | 586,950 | |||||||||
7.00%, 02/28/31 | ZAR | 20,060 | 1,145,905 | |||||||||
7.75%, 02/28/23 | ZAR | 18,939 | 1,373,349 | |||||||||
8.00%, 01/31/30 | ZAR | 39,165 | 2,491,275 | |||||||||
8.25%, 03/31/32 | ZAR | 29,582 | 1,789,849 | |||||||||
8.50%, 01/31/37 | ZAR | 32,135 | 1,796,446 | |||||||||
8.75%, 01/31/44 | ZAR | 27,703 | 1,520,352 | |||||||||
8.75%, 02/28/48 | ZAR | 47,801 | 2,620,944 | |||||||||
8.88%, 02/28/35 | ZAR | 27,556 | 1,633,919 | |||||||||
9.00%, 01/31/40 | ZAR | 21,153 | 1,208,267 | |||||||||
10.50%, 12/21/26 | ZAR | 54,586 | 4,293,883 | |||||||||
|
| |||||||||||
21,263,043 | ||||||||||||
Thailand — 4.4% | ||||||||||||
Thailand Government Bond | ||||||||||||
0.75%, 06/17/24 | THB | 21,751 | 696,350 | |||||||||
0.95%, 06/17/25 | THB | 28,645 | 916,845 | |||||||||
1.45%, 12/17/24 | THB | 48,040 | 1,575,879 | |||||||||
1.59%, 12/17/35 | THB | 3,408 | 101,447 | |||||||||
1.60%, 12/17/29 | THB | 33,086 | 1,052,102 | |||||||||
1.60%, 06/17/35 | THB | 20,877 | 626,749 | |||||||||
1.88%, 06/17/22 | THB | 26,961 | 879,501 | |||||||||
2.00%, 12/17/22 | THB | 27,311 | 898,476 | |||||||||
2.13%, 12/17/26 | THB | 37,382 | 1,259,793 | |||||||||
2.40%, 12/17/23 | THB | 38,890 | 1,306,261 | |||||||||
2.88%, 12/17/28 | THB | 33,657 | 1,181,413 | |||||||||
2.88%, 06/17/46 | THB | 33,526 | 1,090,852 |
Security | Par/ Shares (000) | Value | ||||||||||
Thailand (continued) | ||||||||||||
3.30%, 06/17/38 | THB | 49,077 | $ | 1,760,941 | ||||||||
3.40%, 06/17/36 | THB | 38,294 | 1,396,714 | |||||||||
3.63%, 06/16/23 | THB | 32,884 | 1,122,975 | |||||||||
3.65%, 06/20/31 | THB | 35,311 | 1,325,152 | |||||||||
3.78%, 06/25/32 | THB | 36,703 | 1,390,549 | |||||||||
3.85%, 12/12/25 | THB | 39,622 | 1,433,975 | |||||||||
4.26%, 12/12/37(c) | THB | 470 | 18,368 | |||||||||
4.88%, 06/22/29 | THB | 35,950 | 1,427,697 | |||||||||
|
| |||||||||||
21,462,039 | ||||||||||||
Turkey — 4.4% | ||||||||||||
Turkey Government Bond | ||||||||||||
7.10%, 03/08/23 | TRY | 14,095 | 1,428,283 | |||||||||
8.00%, 03/12/25 | TRY | 13,329 | 1,179,875 | |||||||||
8.50%, 09/14/22 | TRY | 8,938 | 967,465 | |||||||||
9.00%, 07/24/24 | TRY | 16,494 | 1,576,934 | |||||||||
10.40%, 03/20/24 | TRY | 6,649 | 674,161 | |||||||||
10.50%, 08/11/27 | TRY | 17,375 | 1,524,399 | |||||||||
10.60%, 02/11/26 | TRY | 22,991 | 2,132,185 | |||||||||
10.70%, 08/17/22 | TRY | 12,566 | 1,403,294 | |||||||||
11.00%, 03/02/22 | TRY | 13,249 | 1,521,111 | |||||||||
11.00%, 02/24/27 | TRY | 14,953 | 1,364,150 | |||||||||
11.70%, 11/13/30 | TRY | 22,132 | 1,939,086 | |||||||||
12.20%, 01/18/23 | TRY | 15,580 | 1,745,986 | |||||||||
12.40%, 03/08/28 | TRY | 9,151 | 869,080 | |||||||||
12.60%, 10/01/25 | TRY | 17,443 | 1,773,855 | |||||||||
16.20%, 06/14/23 | TRY | 10,259 | 1,208,451 | |||||||||
|
| |||||||||||
21,308,315 | ||||||||||||
Uruguay — 4.4% | ||||||||||||
Uruguay Government International Bond | ||||||||||||
8.50%, 03/15/28(c) | UYU | 423,583 | 10,048,502 | |||||||||
9.88%, 06/20/22(c) | UYU | 473,620 | 11,170,690 | |||||||||
|
| |||||||||||
21,219,192 | ||||||||||||
|
| |||||||||||
Total Foreign Government Obligations — 97.8% |
| 473,846,933 | ||||||||||
|
| |||||||||||
Short-Term Investments | ||||||||||||
Money Market Funds — 0.1% | ||||||||||||
BlackRock Cash Funds: Treasury, SL Agency Shares, 0.00%(d)(e) | 420 | 420,000 | ||||||||||
|
| |||||||||||
Total Short-Term Investments — 0.1% |
| 420,000 | ||||||||||
|
| |||||||||||
Total Investments in Securities — 97.9% |
| 474,266,933 | ||||||||||
Other Assets, Less Liabilities — 2.1% | 10,079,789 | |||||||||||
|
| |||||||||||
Net Assets — 100.0% | $ | 484,346,722 | ||||||||||
|
|
(a) | Zero-coupon bond. |
(b) | Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration to qualified institutional investors. |
(c) | This security may be resold to qualified foreign investors and foreign institutional buyers under Regulation S of the Securities Act of 1933. |
(d) | Affiliate of the Fund. |
(e) | Annualized 7-day yield as of period-end. |
40 | 2 0 2 1 I SHARES SEMI - ANNUAL REPORT TO SHAREHOLDERS |
Schedule of Investments (unaudited) (continued) April 30, 2021 | iShares® J.P. Morgan EM Local Currency Bond ETF |
Affiliates
Investments in issuers considered to be affiliate(s) of the Fund during the six months ended April 30, 2021 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:
| ||||||||||||||||||||||||||||||||||||||||||
Affiliated Issuer | Value at 10/31/20 | Purchases at Cost | Proceeds from Sales | Net Realized Gain (Loss) | Change in Unrealized Appreciation (Depreciation) | Value at 04/30/21 | Shares Held at 04/30/21 (000) | Income | Capital Gain Distributions from Underlying Funds | |||||||||||||||||||||||||||||||||
| ||||||||||||||||||||||||||||||||||||||||||
| BlackRock Cash Funds: Treasury, SL Agency Shares | $ | 290,000 | $130,000 | (a) | $ | — | $ | — | $ | — | $ | 420,000 | 420 | $ | 198 | $ | — | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
(a) | Represents net amount purchased (sold). |
Fair Value Measurements
Various inputs are used in determining the fair value of financial instruments. For description of the input levels and information about the Fund’s policy regarding valuation of financial instruments, refer to the Notes to Financial Statements.
The following table summarizes the value of the Fund’s investments according to the fair value hierarchy as of April 30, 2021. The breakdown of the Fund’s investments into major categories is disclosed in the Schedule of Investments above.
| ||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
| ||||||||||||||||
Investments | ||||||||||||||||
Assets | ||||||||||||||||
Foreign Government Obligations | $ | — | $ | 473,846,933 | $ | — | $ | 473,846,933 | ||||||||
Money Market Funds | 420,000 | — | — | 420,000 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
$ | 420,000 | $ | 473,846,933 | $ | — | $ | 474,266,933 | |||||||||
|
|
|
|
|
|
|
|
See notes to financial statements.
SCHEDULE OF INVESTMENTS | 41 |
Schedule of Investments (unaudited) April 30, 2021 | iShares® US & Intl High Yield Corp Bond ETF (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||||||
Corporate Bonds & Notes | ||||||||||||
Australia — 0.2% | ||||||||||||
FMG Resources August 2006 Pty Ltd. | ||||||||||||
4.38%, 04/01/31 (Call 01/01/31)(a) | USD | 175 | $ | 181,485 | ||||||||
4.50%, 09/15/27 (Call 06/15/27)(a)(b) | USD | 75 | 81,461 | |||||||||
5.13%, 05/15/24 (Call 02/15/24)(a) | USD | 100 | 109,019 | |||||||||
|
| |||||||||||
371,965 | ||||||||||||
Austria — 0.2% | ||||||||||||
ams AG, 6.00%, 07/31/25 (Call 07/31/22)(c) | EUR | 100 | 127,426 | |||||||||
Novomatic AG, 1.63%, 09/20/23 | EUR | 100 | 114,950 | |||||||||
Wienerberger AG, 2.00%, 05/02/24(c) | EUR | 50 | 63,253 | |||||||||
|
| |||||||||||
305,629 | ||||||||||||
Belgium — 0.2% | ||||||||||||
Telenet Finance Luxembourg Note Sarl, 5.50%, 03/01/28 (Call 12/01/22)(a) | USD | 200 | 211,233 | |||||||||
Telenet Finance Luxembourg Notes Sarl, 3.50%, 03/01/28 (Call 12/01/22)(c) | EUR | 100 | 124,935 | |||||||||
|
| |||||||||||
336,168 | ||||||||||||
Brazil — 0.4% | ||||||||||||
JBS Investments II GmbH, 7.00%, 01/15/26 (Call 01/15/22)(a) | USD | 200 | 212,960 | |||||||||
JBS USA LUX SA/JBS USA Finance Inc., 6.75%, 02/15/28 (Call 02/15/23)(a) | USD | 125 | 137,925 | |||||||||
JBS USA LUX SA/JBS USA Food Co./JBS USA Finance Inc. | ||||||||||||
5.50%, 01/15/30 (Call 01/15/25)(a) | USD | 160 | 176,489 | |||||||||
6.50%, 04/15/29 (Call 04/15/24)(a) | USD | 155 | 174,569 | |||||||||
|
| |||||||||||
701,943 | ||||||||||||
Canada — 2.8% | ||||||||||||
1011778 BC ULC/New Red Finance Inc. | ||||||||||||
3.50%, 02/15/29 (Call 02/15/24)(a) | USD | 60 | 58,767 | |||||||||
3.88%, 01/15/28 (Call 09/15/22)(a) | USD | 70 | 70,859 | |||||||||
4.00%, 10/15/30 (Call 10/15/25)(a) | USD | 350 | 342,651 | |||||||||
4.25%, 05/15/24 (Call 05/31/21)(a) | USD | 98 | 99,214 | |||||||||
4.38%, 01/15/28 (Call 11/15/22)(a) | USD | 95 | 96,219 | |||||||||
5.75%, 04/15/25 (Call 04/15/22)(a) | USD | 15 | 15,912 | |||||||||
Bausch Health Companies Inc. | ||||||||||||
5.00%, 02/15/29 (Call 02/15/24)(a) | USD | 85 | 85,025 | |||||||||
5.25%, 02/15/31 (Call 02/15/26)(a) | USD | 105 | 105,235 | |||||||||
Bombardier Inc. | ||||||||||||
6.00%, 10/15/22 (Call 05/31/21)(a) | USD | 175 | 175,011 | |||||||||
6.13%, 01/15/23(a) | USD | 155 | 161,756 | |||||||||
7.50%, 12/01/24 (Call 05/31/21)(a) | USD | 125 | 127,162 | |||||||||
7.50%, 03/15/25 (Call 05/31/21)(a) | USD | 160 | 160,000 | |||||||||
7.88%, 04/15/27 (Call 04/15/22)(a) | USD | 220 | 219,175 | |||||||||
Brookfield Residential Properties Inc./Brookfield Residential U.S. Corp. | ||||||||||||
4.88%, 02/15/30 (Call 02/15/25)(a) | USD | 50 | 50,000 | |||||||||
6.13%, 05/15/23 (Call 05/31/21)(a) | CAD | 35 | 28,504 | |||||||||
6.25%, 09/15/27 (Call 09/15/22)(a) | USD | 82 | 87,515 | |||||||||
CES Energy Solutions Corp., 6.38%, 10/21/24 (Call 05/31/21) | CAD | 40 | 32,830 | |||||||||
Crew Energy Inc., 6.50%, 03/14/24 (Call 05/31/21)(a) | CAD | 40 | 29,812 | |||||||||
Garda World Security Corp. | ||||||||||||
4.63%, 02/15/27 (Call 02/15/23)(a) | USD | 100 | 100,606 | |||||||||
9.50%, 11/01/27 (Call 11/01/22)(a) | USD | 75 | 82,641 | |||||||||
GFL Environmental Inc. | ||||||||||||
3.50%, 09/01/28 (Call 03/01/28)(a) | USD | 100 | 96,469 | |||||||||
3.75%, 08/01/25 (Call 08/01/22)(a) | USD | 85 | 86,488 | |||||||||
4.00%, 08/01/28 (Call 08/01/23)(a)(b) | USD | 20 | 19,127 |
Security | Par (000) | Value | ||||||||||
Canada (continued) | ||||||||||||
4.25%, 06/01/25 (Call 06/01/22)(a) | USD | 15 | $ | 15,537 | ||||||||
5.13%, 12/15/26 (Call 12/15/22)(a) | USD | 80 | 84,153 | |||||||||
Kronos Acquisition Holdings Inc./KIK Custom Products Inc. | ||||||||||||
5.00%, 12/31/26 (Call 06/30/23)(a)(b) | USD | 10 | 10,088 | |||||||||
7.00%, 12/31/27 (Call 12/31/23)(a)(b) | USD | 70 | 67,900 | |||||||||
Mattamy Group Corp. | ||||||||||||
4.63%, 03/01/30 (Call 03/01/25)(a) | USD | 70 | 71,227 | |||||||||
5.25%, 12/15/27 (Call 12/15/22)(a) | USD | 65 | 68,654 | |||||||||
MEG Energy Corp. | ||||||||||||
5.88%, 02/01/29 (Call 02/01/24)(a) | USD | 75 | 77,073 | |||||||||
6.50%, 01/15/25 (Call 05/31/21)(a)(b) | USD | 58 | 59,994 | |||||||||
7.13%, 02/01/27 (Call 02/01/23)(a) | USD | 150 | 160,129 | |||||||||
Methanex Corp. | ||||||||||||
5.13%, 10/15/27 (Call 04/15/27)(b) | USD | 50 | 52,864 | |||||||||
5.25%, 12/15/29 (Call 09/15/29) | USD | 100 | 105,500 | |||||||||
NOVA Chemicals Corp. | ||||||||||||
4.25%, 05/15/29 (Call 05/15/24)(a) | USD | 57 | 56,786 | |||||||||
4.88%, 06/01/24 (Call 03/03/24)(a) | USD | 105 | 110,697 | |||||||||
5.00%, 05/01/25 (Call 01/31/25)(a)(b) | USD | 65 | 69,538 | |||||||||
5.25%, 08/01/23 (Call 05/31/21)(a) | USD | 65 | 65,771 | |||||||||
5.25%, 06/01/27 (Call 03/03/27)(a) | USD | 130 | 139,080 | |||||||||
NuVista Energy Ltd., 6.50%, 03/02/23 (Call 05/10/21) | CAD | 30 | 23,899 | |||||||||
Open Text Corp. | ||||||||||||
3.88%, 02/15/28 (Call 02/15/23)(a) | USD | 115 | 116,437 | |||||||||
5.88%, 06/01/26 (Call 06/01/21)(a) | USD | 100 | 103,302 | |||||||||
Open Text Holdings Inc., 4.13%, 02/15/30 (Call 02/15/25)(a) | USD | 90 | 90,787 | |||||||||
Parkland Corp., 5.63%, 05/09/25 (Call 05/10/21) | CAD | 100 | 83,621 | |||||||||
Parkland Corp./Canada | ||||||||||||
4.50%, 10/01/29 (Call 10/01/24)(a) | USD | 69 | 70,425 | |||||||||
5.88%, 07/15/27 (Call 07/15/22)(a) | USD | 65 | 69,212 | |||||||||
Quebecor Media Inc. | ||||||||||||
5.75%, 01/15/23(b) | USD | 130 | 138,860 | |||||||||
6.63%, 01/15/23(a) | CAD | 75 | 65,716 | |||||||||
Stars Group Holdings BV/Stars Group US Co-Borrower LLC, 7.00%, 07/15/26 | USD | 175 | 182,324 | |||||||||
Superior Plus LP | ||||||||||||
5.13%, 08/27/25 (Call 05/19/21) | CAD | 50 | 42,262 | |||||||||
5.25%, 02/27/24 (Call 05/27/21) | CAD | 50 | 41,799 | |||||||||
Superior Plus LP/Superior General Partner Inc., 4.50%, 03/15/29 (Call 03/15/24)(a) | USD | 10 | 10,225 | |||||||||
Telesat Canada/Telesat LLC | ||||||||||||
5.63%, 12/06/26 (Call 12/06/23)(a) | USD | 42 | 42,263 | |||||||||
6.50%, 10/15/27 (Call 10/15/22)(a) | USD | 50 | 49,155 | |||||||||
Titan Acquisition Ltd./Titan Co-Borrower LLC, 7.75%, 04/15/26 (Call 06/01/21)(a) | USD | 80 | 83,097 | |||||||||
Videotron Ltd. | ||||||||||||
4.50%, 01/15/30 (Call 10/15/24) | CAD | 110 | 94,709 | |||||||||
5.00%, 07/15/22 | USD | 100 | 104,373 | |||||||||
5.13%, 04/15/27 (Call 04/15/22)(a) | USD | 75 | 79,219 | |||||||||
5.38%, 06/15/24 (Call 03/15/24)(a) | USD | 75 | 82,523 | |||||||||
5.63%, 06/15/25 (Call 03/15/25) | CAD | 50 | 45,386 | |||||||||
5.75%, 01/15/26 (Call 05/17/21)(c) | CAD | 50 | 41,858 | |||||||||
|
| |||||||||||
5,207,421 | ||||||||||||
Cayman Islands — 0.1% | ||||||||||||
UPCB Finance VII Ltd., 3.63%, 06/15/29 (Call 06/15/22)(c) | EUR | 150 | 185,201 | |||||||||
|
| |||||||||||
Denmark — 0.1% | ||||||||||||
DKT Finance ApS, 7.00%, 06/17/23 (Call 05/31/21)(c) | EUR | 100 | 122,847 |
42 | 2 0 2 1 I SHARES SEMI - ANNUAL REPORT TO SHAREHOLDERS |
Schedule of Investments (unaudited) (continued) April 30, 2021 | iShares® US & Intl High Yield Corp Bond ETF (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||||||
Denmark (continued) | ||||||||||||
TDC AS, 6.88%, 02/23/23(c) | GBP | 100 | $ | 150,309 | ||||||||
|
| |||||||||||
273,156 | ||||||||||||
Finland — 0.5% | ||||||||||||
Nokia OYJ | ||||||||||||
2.00%, 03/11/26 (Call 12/11/25)(c) | EUR | 200 | 252,482 | |||||||||
2.38%, 05/15/25 (Call 02/15/25)(c) | EUR | 100 | 127,699 | |||||||||
3.38%, 06/12/22 | USD | 65 | 66,716 | |||||||||
4.38%, 06/12/27 | USD | 65 | 71,115 | |||||||||
Teollisuuden Voima OYJ | ||||||||||||
1.13%, 03/09/26 (Call 12/09/25)(c) | EUR | 200 | 241,496 | |||||||||
2.00%, 05/08/24 (Call 02/08/24)(c) | EUR | 100 | 124,376 | |||||||||
|
| |||||||||||
883,884 | ||||||||||||
France — 3.9% | ||||||||||||
Accor SA | ||||||||||||
3.00%, 02/04/26 (Call 11/04/25)(c) | EUR | 100 | 127,260 | |||||||||
3.63%, 09/17/23(c) | EUR | 100 | 127,924 | |||||||||
Altice France SA/France | ||||||||||||
2.13%, 02/15/25 (Call 02/15/22)(c) | EUR | 100 | 117,149 | |||||||||
4.13%, 01/15/29 (Call 09/15/23)(c) | EUR | 100 | 121,950 | |||||||||
5.13%, 07/15/29 (Call 04/15/24)(a) | USD | 200 | 200,125 | |||||||||
5.50%, 01/15/28 (Call 09/15/22)(a) | USD | 200 | 206,040 | |||||||||
5.88%, 02/01/27 (Call 02/01/22)(c) | EUR | 200 | 256,402 | |||||||||
7.38%, 05/01/26 (Call 05/11/21)(a) | USD | 200 | 207,696 | |||||||||
8.13%, 02/01/27 (Call 02/01/22)(a) | USD | 200 | 219,250 | |||||||||
Banijay Group SAS, 6.50%, 03/01/26 (Call 09/01/22)(c) | EUR | 100 | 123,374 | |||||||||
Burger King France SAS, 6.00%, 05/01/24 (Call 05/10/21)(c) | EUR | 100 | 122,261 | |||||||||
CAB SELAS, 3.38%, 02/01/28 (Call 02/01/24)(c) | EUR | 100 | 119,750 | |||||||||
Casino Guichard Perrachon SA | ||||||||||||
3.58%, 02/07/25 (Call 11/07/24)(c) | EUR | 100 | 116,873 | |||||||||
4.50%, 03/07/24 (Call 12/07/23)(c) | EUR | 100 | 123,063 | |||||||||
4.56%, 01/25/23(c) | EUR | 100 | 125,723 | |||||||||
CGG SA, 7.75%, 04/01/27 (Call 04/01/24)(c) | EUR | 100 | 119,553 | |||||||||
CMA CGM SA | ||||||||||||
5.25%, 01/15/25 (Call 05/10/21)(c) | EUR | 100 | 122,813 | |||||||||
7.50%, 01/15/26 (Call 01/15/23)(c) | EUR | 100 | 132,584 | |||||||||
Electricite de France SA, 5.63%, | USD | 150 | 161,813 | |||||||||
Elis SA | ||||||||||||
1.00%, 04/03/25 (Call 01/03/25)(c) | EUR | 100 | 118,838 | |||||||||
1.63%, 04/03/28 (Call 01/03/28)(c) | EUR | 100 | 117,817 | |||||||||
1.88%, 02/15/23 (Call 11/15/22)(c) | EUR | 100 | 122,499 | |||||||||
Faurecia SE | ||||||||||||
2.38%, 06/15/27 (Call 06/15/23)(c) | EUR | 100 | 123,178 | |||||||||
2.63%, 06/15/25 (Call 06/15/21)(c) | EUR | 100 | 122,142 | |||||||||
3.13%, 06/15/26 (Call 06/15/22)(c) | EUR | 100 | 124,510 | |||||||||
3.75%, 06/15/28 (Call 06/15/23)(c) | EUR | 100 | 127,525 | |||||||||
Fnac Darty SA, 2.63%, 05/30/26 (Call 05/30/22)(c) | EUR | 100 | 123,478 | |||||||||
Foncia Management SASU, 3.38%, 03/31/28 (Call 03/31/24)(c) | EUR | 100 | 119,252 | |||||||||
Getlink SE, 3.50%, 10/30/25 (Call 10/30/22)(c) | EUR | 100 | 125,029 | |||||||||
La Financiere Atalian SASU, 4.00%, 05/15/24 (Call 05/10/21)(c) | EUR | 100 | 117,297 | |||||||||
Loxam SAS | ||||||||||||
2.88%, 04/15/26 (Call 04/15/22)(c) | EUR | 125 | 147,379 | |||||||||
3.25%, 01/14/25 (Call 07/15/21)(c) | EUR | 125 | 149,825 | |||||||||
3.75%, 07/15/26 (Call 07/15/22)(c) | EUR | 100 | 121,062 | |||||||||
Mobilux Finance SAS, 5.50%, 11/15/24 (Call 05/10/21)(c) | EUR | 100 | 121,605 | |||||||||
Orano SA | ||||||||||||
3.13%, 03/20/23 (Call 12/20/22)(c) | EUR | 100 | 125,618 | |||||||||
3.38%, 04/23/26 (Call 01/23/26)(c) | EUR | 100 | 130,299 |
Security | Par (000) | Value | ||||||||||
France (continued) | ||||||||||||
4.88%, 09/23/24 | EUR | 100 | $ | 136,229 | ||||||||
Paprec Holding SA, 4.00%, 03/31/25 (Call 05/31/21)(c) | EUR | 100 | 121,743 | |||||||||
Quatrim SASU, 5.88%, 01/15/24 | EUR | 100 | 125,514 | |||||||||
RCI Banque SA, 2.63%, 02/18/30 | EUR | 100 | 120,347 | |||||||||
Renault SA | ||||||||||||
1.00%, 03/08/23 (Call 12/08/22)(c) | EUR | 100 | 120,667 | |||||||||
1.00%, 11/28/25 (Call 08/28/25)(c) | EUR | 100 | 118,187 | |||||||||
1.13%, 10/04/27 (Call 07/04/27)(c) | EUR | 100 | 111,886 | |||||||||
1.25%, 06/24/25 (Call 03/24/25)(c) | EUR | 100 | 118,195 | |||||||||
2.00%, 09/28/26 (Call 06/28/26)(c) | EUR | 100 | 118,995 | |||||||||
2.38%, 05/25/26 (Call 02/25/26)(c) | EUR | 100 | 121,609 | |||||||||
Rexel SA, 2.75%, 06/15/26 (Call 03/15/22)(c) | EUR | 125 | 154,433 | |||||||||
SPCM SA, 2.63%, 02/01/29 (Call 09/15/23)(c) | EUR | 100 | 123,485 | |||||||||
SPIE SA, 2.63%, 06/18/26 (Call 12/18/25)(c) | EUR | 100 | 125,212 | |||||||||
Tereos Finance Groupe I SA, 4.13%, 06/16/23 (Call 03/16/23)(c) | EUR | 100 | 121,513 | |||||||||
Valeo SA | ||||||||||||
1.63%, 03/18/26 (Call 12/18/25)(c) | EUR | 100 | 124,554 | |||||||||
3.25%, 01/22/24(c) | EUR | 100 | 129,780 | |||||||||
Vallourec SA | ||||||||||||
2.25%, 09/30/24(c) | EUR | 100 | 117,521 | |||||||||
6.63%, 10/15/22 (Call 05/10/21)(c) | EUR | 100 | 120,131 | |||||||||
|
| |||||||||||
7,218,957 | ||||||||||||
Germany — 4.4% | ||||||||||||
ADLER Group SA | ||||||||||||
1.88%, 01/14/26 (Call 10/14/25)(c) | EUR | 100 | 118,525 | |||||||||
2.25%, 04/27/27 (Call 01/27/27)(c) | EUR | 100 | 119,435 | |||||||||
2.75%, 11/13/26 (Call 08/13/26)(c) | EUR | 100 | 122,750 | |||||||||
3.25%, 08/05/25 (Call 05/05/25)(c) | EUR | 100 | 125,318 | |||||||||
Adler Pelzer Holding GmbH, 4.13%, 04/01/24 (Call 05/10/21)(c) | EUR | 100 | 116,938 | |||||||||
ADLER Real Estate AG, 3.00%, 04/27/26 (Call 02/27/26)(c) | EUR | 100 | 126,271 | |||||||||
Bertelsmann SE & Co. KGaA, 3.50%, 04/23/75 (Call 04/23/27)(c)(e) | EUR | 100 | 130,066 | |||||||||
CeramTec BondCo GmbH, 5.25%, 12/15/25 (Call 05/31/21)(c) | EUR | 100 | 121,843 | |||||||||
Cheplapharm Arzneimittel GmbH, 4.38%, 01/15/28 (Call 01/15/24)(c) | EUR | 100 | 124,749 | |||||||||
Commerzbank AG | ||||||||||||
4.00%, 03/30/27(c) | EUR | 130 | 177,017 | |||||||||
4.00%, 12/05/30 (Call 09/05/25)(c)(e) | EUR | 200 | 263,306 | |||||||||
8.13%, 09/19/23(a) | USD | 200 | 228,806 | |||||||||
Consus Real Estate AG, 9.63%, 05/15/24 (Call 05/31/21)(c) | EUR | 100 | 126,483 | |||||||||
CT Investment GmbH, 5.50%, 04/15/26 (Call 04/15/23)(c) | EUR | 100 | 121,696 | |||||||||
DEMIRE Deutsche Mittelstand Real Estate AG, 1.88%, 10/15/24 (Call 07/15/24)(c) | EUR | 100 | 117,452 | |||||||||
Deutsche Bank AG | ||||||||||||
2.75%, 02/17/25(c) | EUR | 125 | 158,362 | |||||||||
4.30%, 05/24/28 (Call 05/24/23), (5 year USD Swap + 2.248%)(e) | USD | 200 | 208,136 | |||||||||
4.50%, 05/19/26(c) | EUR | 100 | 137,719 | |||||||||
5.63%, 05/19/31 (Call 02/19/26)(c)(e) | EUR | 200 | 283,415 | |||||||||
Deutsche Bank AG/New York NY, 4.88%, 12/01/32 (Call 12/01/27)(e) | USD | 200 | 216,577 | |||||||||
Deutsche Lufthansa AG | ||||||||||||
2.88%, 02/11/25 (Call 01/11/25)(c) | EUR | 100 | 121,225 | |||||||||
3.00%, 05/29/26 (Call 02/28/26)(c) | EUR | 100 | 120,328 | |||||||||
3.75%, 02/11/28 (Call 11/11/27)(c) | EUR | 100 | 121,980 | |||||||||
4.39%, 08/12/75 (Call 02/12/26)(c)(e) | EUR | 100 | 116,962 |
SCHEDULE OF INVESTMENTS | 43 |
Schedule of Investments (unaudited) (continued) April 30, 2021 | iShares® US & Intl High Yield Corp Bond ETF (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||||||
Germany (continued) | ||||||||||||
Hapag-Lloyd AG, 2.50%, 04/15/28 (Call 04/15/24)(c) | EUR | 100 | $ | 120,524 | ||||||||
HT Troplast GmbH, 9.25%, 07/15/25 (Call 07/15/22)(c) | EUR | 100 | 131,688 | |||||||||
K+S AG | ||||||||||||
2.63%, 04/06/23 (Call 01/06/23)(c) | EUR | 100 | 120,277 | |||||||||
3.25%, 07/18/24 (Call 04/18/24)(c) | EUR | 100 | 121,087 | |||||||||
KME SE, 6.75%, 02/01/23 (Call 05/31/21)(c) | EUR | 100 | 96,582 | |||||||||
LANXESS AG, 4.50%, 12/06/76 | EUR | 100 | 128,725 | |||||||||
Mercer International Inc., 5.13%, 02/01/29 (Call 02/01/24)(a) | USD | 110 | 114,177 | |||||||||
METRO AG, 1.50%, 03/19/25(c) | EUR | 100 | 124,410 | |||||||||
Nidda BondCo GmbH, 5.00%, 09/30/25 (Call 05/31/21)(c) | EUR | 100 | 121,361 | |||||||||
Nidda Healthcare Holding GmbH, 3.50%, 09/30/24 (Call 05/10/21)(c) | EUR | 200 | 241,686 | |||||||||
PCF GmbH, 4.75%, 04/15/26 | EUR | 100 | 120,918 | |||||||||
Peach Property Finance GmbH, 3.50%, 02/15/23 (Call 11/15/22)(c) | EUR | 100 | 123,231 | |||||||||
Platin 1426 GmbH, 5.38%, 06/15/23 (Call 05/10/21)(c) | EUR | 100 | 121,187 | |||||||||
ProGroup AG, 3.00%, 03/31/26 | EUR | 100 | 121,912 | |||||||||
RWE AG, 3.50%, 04/21/75 | EUR | 50 | 64,397 | |||||||||
Schaeffler AG | ||||||||||||
1.88%, 03/26/24 (Call 12/26/23)(c) | EUR | 100 | 124,690 | |||||||||
2.88%, 03/26/27 (Call 12/26/26)(c) | EUR | 100 | 128,252 | |||||||||
3.38%, 10/12/28 (Call 07/12/28)(c) | EUR | 100 | 131,586 | |||||||||
Summit Properties Ltd., 2.00%, 01/31/25 (Call 05/10/21)(c) | EUR | 100 | 119,027 | |||||||||
Techem Verwaltungsgesellschaft 674 mbH, 6.00%, 07/30/26 (Call 07/30/21)(c) | EUR | 100 | 124,546 | |||||||||
Techem Verwaltungsgesellschaft 675 mbH, 2.00%, 07/15/25 (Call 01/15/22)(c) | EUR | 100 | 119,034 | |||||||||
Tele Columbus AG, 3.88%, 05/02/25 (Call 05/31/21)(c) | EUR | 100 | 122,384 | |||||||||
thyssenkrupp AG | ||||||||||||
1.88%, 03/06/23 (Call 02/06/23)(c) | EUR | 175 | 210,809 | |||||||||
2.88%, 02/22/24 (Call 11/22/23)(c) | EUR | 150 | 183,964 | |||||||||
TK Elevator Midco GmbH, 4.38%, 07/15/27 (Call 07/15/23)(c) | EUR | 100 | 126,402 | |||||||||
Vertical Holdco GmbH, 6.63%, 07/15/28 (Call 07/15/23)(c) | EUR | 100 | 129,113 | |||||||||
Vertical U.S. Newco Inc., 5.25%, 07/15/27 (Call 07/15/23)(a) | USD | 200 | 209,833 | |||||||||
WEPA Hygieneprodukte GmbH, 2.88%, 12/15/27 (Call 12/15/22)(c) | EUR | 100 | 120,276 | |||||||||
ZF Europe Finance BV | ||||||||||||
2.00%, 02/23/26 (Call 12/23/25)(c) | EUR | 300 | 363,939 | |||||||||
3.00%, 10/23/29 (Call 07/23/29)(c) | EUR | 100 | 126,236 | |||||||||
ZF Finance GmbH, 3.75%, 09/21/28 (Call 06/21/28)(c) | EUR | 100 | 131,383 | |||||||||
ZF North America Capital Inc. | ||||||||||||
2.75%, 04/27/23(c) | EUR | 100 | 125,318 | |||||||||
4.75%, 04/29/25(a) | USD | 150 | 161,680 | |||||||||
|
| |||||||||||
8,255,993 | ||||||||||||
Greece — 0.5% | ||||||||||||
Alpha Services and Holdings SA, 4.25%, 02/13/30 (Call 02/13/25)(c)(e) | EUR | 100 | 116,259 | |||||||||
Ellaktor Value PLC, 6.38%, 12/15/24 (Call 12/15/21)(c) | EUR | 100 | 112,101 | |||||||||
Intralot Capital Luxembourg SA, 5.25%, 09/15/24 (Call 05/10/21)(c) | EUR | 100 | 72,918 | |||||||||
Mytilineos SA, 2.25%, 10/30/26(c) | EUR | 100 | 121,567 | |||||||||
National Bank of Greece SA, 2.75%, 10/08/26 (Call 10/08/25)(c)(e) | EUR | 150 | 187,237 | |||||||||
Piraeus Financial Holdings SA, 9.75%, 06/26/29 (Call 06/26/24)(c)(e) | EUR | 100 | 131,894 | |||||||||
Public Power Corp. SA, 3.88%, 03/30/26 (Call 03/30/23)(c) | EUR | 100 | 124,099 |
Security | Par (000) | Value | ||||||||||
Greece (continued) | ||||||||||||
Titan Global Finance PLC, 2.38%, 11/16/24 (Call 05/16/24)(c) | EUR | 100 | $ | 123,181 | ||||||||
|
| |||||||||||
989,256 | ||||||||||||
Ireland — 0.2% | ||||||||||||
AerCap Holdings NV, 5.88%, 10/10/79 (Call 10/10/24)(e) | USD | 150 | 156,304 | |||||||||
AIB Group PLC, 1.88%, 11/19/29 | EUR | 100 | 123,377 | |||||||||
eircom Finance DAC, 3.50%, 05/15/26 (Call 05/15/22)(c) | EUR | 125 | 153,485 | |||||||||
|
| |||||||||||
433,166 | ||||||||||||
Israel — 1.4% | ||||||||||||
Energean Israel Finance Ltd. | ||||||||||||
4.50%, 03/30/24 (Call 12/30/23) | USD | 75 | 76,891 | |||||||||
4.88%, 03/30/26 (Call 12/30/25) | USD | 70 | 72,401 | |||||||||
5.38%, 03/30/28 (Call 09/30/27) | USD | 70 | 72,481 | |||||||||
5.88%, 03/30/31 (Call 09/30/30) | USD | 75 | 77,344 | |||||||||
Leviathan Bond Ltd. | ||||||||||||
5.75%, 06/30/23 (Call 03/30/23)(a) | USD | 75 | 78,979 | |||||||||
6.13%, 06/30/25 (Call 03/30/25)(a) | USD | 45 | 49,366 | |||||||||
6.50%, 06/30/27 (Call 12/30/26)(a) | USD | 55 | 61,196 | |||||||||
6.75%, 06/30/30 (Call 12/30/29)(a) | USD | 90 | 101,115 | |||||||||
Teva Pharmaceutical Finance Netherlands II BV | ||||||||||||
1.13%, 10/15/24(c) | EUR | 200 | 226,882 | |||||||||
1.25%, 03/31/23 (Call 12/31/22)(c) | EUR | 100 | 117,450 | |||||||||
1.63%, 10/15/28(c) | EUR | 100 | 107,264 | |||||||||
1.88%, 03/31/27 (Call 12/31/26)(c) | EUR | 100 | 111,497 | |||||||||
3.25%, 04/15/22 (Call 01/15/22) | EUR | 100 | 121,670 | |||||||||
4.50%, 03/01/25 (Call 12/01/24) | EUR | 100 | 125,601 | |||||||||
6.00%, 01/31/25 (Call 10/31/24) | EUR | 100 | 131,050 | |||||||||
Teva Pharmaceutical Finance Netherlands III BV | ||||||||||||
2.80%, 07/21/23 | USD | 250 | 247,532 | |||||||||
3.15%, 10/01/26(b) | USD | 200 | 187,800 | |||||||||
6.00%, 04/15/24 (Call 01/15/24) | USD | 200 | 210,750 | |||||||||
6.75%, 03/01/28 (Call 12/01/27)(b) | USD | 200 | 218,233 | |||||||||
7.13%, 01/31/25 (Call 10/31/24) | USD | 200 | 218,500 | |||||||||
|
| |||||||||||
2,614,002 | ||||||||||||
Italy — 5.5% | ||||||||||||
Atlantia SpA | ||||||||||||
1.63%, 02/03/25(c) | EUR | 100 | 122,730 | |||||||||
1.88%, 07/13/27 (Call 04/13/27)(c) | EUR | 100 | 123,641 | |||||||||
1.88%, 02/12/28 (Call 11/12/27)(c) | EUR | 100 | 123,083 | |||||||||
Autostrade per l’Italia SpA | ||||||||||||
1.13%, 11/04/21(c) | EUR | 100 | 120,402 | |||||||||
1.75%, 06/26/26(c) | EUR | 100 | 122,896 | |||||||||
1.75%, 02/01/27(c) | EUR | 100 | 122,925 | |||||||||
1.88%, 09/26/29 (Call 06/26/29)(c) | EUR | 100 | 121,878 | |||||||||
2.00%, 12/04/28 (Call 09/04/28)(c) | EUR | 100 | 123,598 | |||||||||
2.00%, 01/15/30 (Call 10/15/29)(c) | EUR | 100 | 122,450 | |||||||||
Azzurra Aeroporti SpA, 2.63%, 05/30/27 (Call 02/28/27)(c) | EUR | 100 | 119,326 | |||||||||
Banca IFIS SpA, 4.50%, 10/17/27 | EUR | 100 | 121,733 | |||||||||
Banca Monte dei Paschi di Siena SpA | ||||||||||||
1.88%, 01/09/26(c) | EUR | 150 | 180,865 | |||||||||
2.63%, 04/28/25(c) | EUR | 125 | 154,770 | |||||||||
3.63%, 09/24/24(c) | EUR | 100 | 127,448 | |||||||||
5.38%, 01/18/28 (Call 01/18/23)(c)(e) | EUR | 100 | 108,041 | |||||||||
10.50%, 07/23/29(c) | EUR | 100 | 147,896 | |||||||||
Banca Popolare di Sondrio SCPA, 2.38%, 04/03/24(c) | EUR | 100 | 125,878 | |||||||||
Banco BPM SpA | ||||||||||||
1.75%, 01/28/25(c) | EUR | 200 | 249,046 | |||||||||
2.50%, 06/21/24(c) | EUR | 100 | 127,397 | |||||||||
4.38%, 09/21/27 (Call 09/21/22)(c)(e) | EUR | 100 | 125,147 |
44 | 2 0 2 1 I SHARES SEMI - ANNUAL REPORT TO SHAREHOLDERS |
Schedule of Investments (unaudited) (continued) April 30, 2021 | iShares® US & Intl High Yield Corp Bond ETF (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||||||
Italy (continued) | ||||||||||||
BPER Banca, 5.13%, 05/31/27 | EUR | 100 | $ | 125,881 | ||||||||
Brunello Bidco SpA, 3.50%, 02/15/28 (Call 02/15/24)(c) | EUR | 100 | 120,522 | |||||||||
Centurion Bidco SpA, 5.88%, 09/30/26 (Call 09/30/22)(c) | EUR | 100 | 125,791 | |||||||||
Esselunga SpA, 0.88%, 10/25/23 (Call 07/25/23)(c) | EUR | 100 | 122,209 | |||||||||
Gamma Bidco SpA, 5.13%, 07/15/25 (Call 07/15/22)(c) | EUR | 100 | 121,814 | |||||||||
Iccrea Banca SpA, 1.50%, 10/11/22(c) | EUR | 150 | 182,657 | |||||||||
Infrastrutture Wireless Italiane SpA | ||||||||||||
1.63%, 10/21/28 (Call 07/21/28)(c) | EUR | 100 | 122,611 | |||||||||
1.88%, 07/08/26 (Call 04/08/26)(c) | EUR | 100 | 126,194 | |||||||||
Intesa Sanpaolo SpA | ||||||||||||
0.63%, 02/24/26(c) | EUR | 250 | 297,968 | |||||||||
1.35%, 02/24/31(c) | EUR | 250 | 293,765 | |||||||||
2.63%, 06/20/24(c) | EUR | 250 | 321,271 | |||||||||
2.86%, 04/23/25(c) | EUR | 100 | 127,528 | |||||||||
4.45%, 09/15/27 (Call 09/15/22)(c)(e) | EUR | 100 | 126,290 | |||||||||
5.02%, 06/26/24(a) | USD | 200 | 217,350 | |||||||||
5.15%, 06/10/30(c) | GBP | 100 | 155,827 | |||||||||
6.63%, 09/13/23(c) | EUR | 100 | 136,785 | |||||||||
Leonardo SpA, 1.50%, 06/07/24 (Call 03/07/24)(c) | EUR | 100 | 122,938 | |||||||||
Mediobanca Banca di Credito Finanziario SpA, 5.75%, 04/18/23 | EUR | 100 | 132,506 | |||||||||
Nexi SpA | ||||||||||||
1.63%, 04/30/26 (Call 01/30/26)(c) | EUR | 200 | 240,061 | |||||||||
1.75%, 10/31/24(c) | EUR | 150 | 183,537 | |||||||||
2.13%, 04/30/29 (Call 01/30/29)(c) | EUR | 100 | 119,051 | |||||||||
Rekeep SpA, 7.25%, 02/01/26 | EUR | 100 | 128,304 | |||||||||
Rossini Sarl, 6.75%, 10/30/25 | EUR | 100 | 127,182 | |||||||||
Saipem Finance International BV, 3.38%, 07/15/26 (Call 04/15/26)(c) | EUR | 100 | 124,498 | |||||||||
Sisal Group SpA, 7.00%, 07/31/23 (Call 05/10/21)(c) | EUR | 69 | 83,689 | |||||||||
Societa Cattolica Di Assicurazione SPA, 4.25%, 12/14/47 (Call 12/14/27)(c)(e) | EUR | 100 | 129,344 | |||||||||
Sofima Holding SpA, 3.75%, 01/15/28 (Call 01/15/23)(c) | EUR | 100 | 120,830 | |||||||||
Telecom Italia SpA/Milano | ||||||||||||
1.63%, 01/18/29 (Call 10/18/28)(c) | EUR | 100 | 118,179 | |||||||||
2.38%, 10/12/27 (Call 07/12/27)(c) | EUR | 100 | 125,656 | |||||||||
2.50%, 07/19/23(c) | EUR | 100 | 125,804 | |||||||||
2.75%, 04/15/25 (Call 01/15/25)(c) | EUR | 150 | 190,090 | |||||||||
2.88%, 01/28/26 (Call 10/28/25)(c) | EUR | 100 | 128,084 | |||||||||
3.00%, 09/30/25(c) | EUR | 100 | 129,387 | |||||||||
3.25%, 01/16/23(c) | EUR | 100 | 126,375 | |||||||||
3.63%, 01/19/24(c) | EUR | 100 | 129,485 | |||||||||
3.63%, 05/25/26(c) | EUR | 100 | 133,485 | |||||||||
4.00%, 04/11/24 (Call 01/11/24)(c) | EUR | 100 | 130,030 | |||||||||
5.30%, 05/30/24(a) | USD | 200 | 218,440 | |||||||||
UniCredit SpA | ||||||||||||
2.00%, 09/23/29 (Call 09/23/24)(c)(e) | EUR | 200 | 241,644 | |||||||||
2.73%, 01/15/32 (Call 01/15/27)(c)(e) | EUR | 200 | 245,926 | |||||||||
4.88%, 02/20/29 (Call 02/20/24)(c)(e) | EUR | 200 | 262,977 | |||||||||
5.46%, 06/30/35 (Call 06/30/30)(a)(e) | USD | 200 | 215,035 | |||||||||
5.86%, 06/19/32 (Call 06/19/27)(a)(b)(e) | USD | 200 | 222,340 | |||||||||
Unipol Gruppo SpA | ||||||||||||
3.00%, 03/18/25(c) | EUR | 100 | 128,544 | |||||||||
3.25%, 09/23/30 (Call 06/23/30)(c) | EUR | 100 | 127,306 | |||||||||
3.50%, 11/29/27 (Call 08/29/27)(c) | EUR | 100 | 131,098 | |||||||||
UnipolSai Assicurazioni SpA, | EUR | 100 | 130,034 | |||||||||
Webuild SpA, 1.75%, 10/26/24(c) | EUR | 100 | 118,737 | |||||||||
|
| |||||||||||
10,306,209 |
Security | Par (000) | Value | ||||||||||
Japan — 0.3% | ||||||||||||
SoftBank Group Corp. | ||||||||||||
3.13%, 09/19/25 (Call 06/21/25)(c) | EUR | 150 | $ | 187,874 | ||||||||
4.00%, 04/20/23 (Call 01/20/23)(c) | EUR | 100 | 126,222 | |||||||||
4.00%, 09/19/29 (Call 06/21/29)(c) | EUR | 125 | 161,706 | |||||||||
5.00%, 04/15/28 (Call 01/16/28)(c) | EUR | 100 | 136,506 | |||||||||
|
| |||||||||||
612,308 | ||||||||||||
Luxembourg — 1.8% | ||||||||||||
Altice Financing SA | ||||||||||||
2.25%, 01/15/25 (Call 01/15/22)(c) | EUR | 100 | 117,876 | |||||||||
3.00%, 01/15/28 (Call 01/15/23)(c) | EUR | 100 | 115,983 | |||||||||
5.00%, 01/15/28 (Call 01/15/23)(a) | USD | 200 | 197,250 | |||||||||
7.50%, 05/15/26 (Call 05/17/21)(a) | USD | 200 | 207,906 | |||||||||
Altice Finco SA, 4.75%, 01/15/28 | EUR | 100 | 117,901 | |||||||||
Altice France Holding SA | ||||||||||||
4.00%, 02/15/28 (Call 02/15/23)(c) | EUR | 100 | 115,131 | |||||||||
6.00%, 02/15/28 (Call 02/15/23)(a)(b) | USD | 200 | 198,500 | |||||||||
8.00%, 05/15/27 (Call 05/15/22)(c) | EUR | 100 | 130,967 | |||||||||
10.50%, 05/15/27 (Call 05/15/22)(a) | USD | 200 | 225,292 | |||||||||
ArcelorMittal SA | ||||||||||||
0.95%, 01/17/23 (Call 10/17/22)(c) | EUR | 100 | 121,697 | |||||||||
1.00%, 05/19/23 (Call 02/19/23)(c) | EUR | 100 | 122,185 | |||||||||
2.25%, 01/17/24 (Call 10/17/23)(c) | EUR | 100 | 126,041 | |||||||||
4.55%, 03/11/26 | USD | 100 | 111,000 | |||||||||
Ardagh Metal Packaging Finance USA LLC/Ardagh Metal Packaging Finance PLC, 3.25%, 09/01/28 (Call 05/15/24)(a) | USD | 200 | 197,326 | |||||||||
Garfunkelux Holdco 3 SA | ||||||||||||
6.75%, 11/01/25 (Call 11/01/22)(c) | EUR | 100 | 124,978 | |||||||||
7.75%, 11/01/25 (Call 11/01/22)(c) | GBP | 100 | 143,529 | |||||||||
INEOS Finance PLC, 2.88%, 05/01/26 (Call 05/01/22)(c) | EUR | 100 | 121,869 | |||||||||
INEOS Group Holdings SA, 5.38%, 08/01/24 (Call 05/10/21)(c) | EUR | 100 | 121,556 | |||||||||
Kleopatra Holdings 2 SCA, 6.50%, 09/01/26 (Call 03/01/23)(c) | EUR | 100 | 112,151 | |||||||||
Matterhorn Telecom SA, 4.00%, 11/15/27 (Call 11/15/22)(c) | EUR | 100 | 122,508 | |||||||||
Mytilineos Financial Partners SA, 2.50%, 12/01/24 (Call 06/01/24)(c) | EUR | 100 | 123,955 | |||||||||
SIG Combibloc Purchase Co. Sarl, 2.13%, 06/18/25 (Call 03/18/25)(c) | EUR | 100 | 126,847 | |||||||||
Summer BC Holdco A Sarl, 9.25%, 10/31/27 (Call 10/31/22)(c) | EUR | 90 | 114,653 | |||||||||
Summer BC Holdco B Sarl, 5.75%, 10/31/26 (Call 10/31/22)(c) | EUR | 100 | 124,751 | |||||||||
Swissport Investments SA, 6.75%, 12/15/21 (Call 05/10/21)(c) | EUR | 100 | 1,204 | |||||||||
Vivion Investments Sarl, 3.00%, 08/08/24(c) | EUR | 100 | 117,179 | |||||||||
|
| |||||||||||
3,460,235 | ||||||||||||
Macau — 0.5% | ||||||||||||
Melco Resorts Finance Ltd. | ||||||||||||
4.88%, 06/06/25 (Call 05/31/21)(a) | USD | 200 | 205,630 | |||||||||
5.38%, 12/04/29 (Call 12/04/24)(a) | USD | 200 | 213,400 | |||||||||
Studio City Finance Ltd., 6.50%, 01/15/28 (Call 07/15/23)(a) | USD | 200 | 216,653 | |||||||||
Wynn Macau Ltd. | ||||||||||||
4.88%, 10/01/24 (Call 05/11/21)(a) | USD | 100 | 101,840 | |||||||||
5.50%, 01/15/26 (Call 06/15/22)(a) | USD | 200 | 210,600 | |||||||||
|
| |||||||||||
948,123 | ||||||||||||
Netherlands — 1.8% | ||||||||||||
Intertrust Group BV, 3.38%, 11/15/25 (Call 11/15/21)(c) | EUR | 100 | 123,410 |
SCHEDULE OF INVESTMENTS | 45 |
Schedule of Investments (unaudited) (continued) April 30, 2021 | iShares® US & Intl High Yield Corp Bond ETF (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||||||
Netherlands (continued) | ||||||||||||
IPD 3 BV, 5.50%, 12/01/25 (Call 12/01/22)(c) | EUR | 100 | $ | 124,910 | ||||||||
Koninklijke KPN NV, 7.00%, 03/28/73 (Call 03/28/23)(a)(e) | USD | 200 | 213,403 | |||||||||
Lincoln Financing Sarl, 3.63%, 04/01/24 (Call 06/01/21)(c) | EUR | 125 | 152,274 | |||||||||
Louis Dreyfus Co. BV, 2.38%, 11/27/25 (Call 08/27/25)(c) | EUR | 100 | 126,348 | |||||||||
Nouryon Holding BV, 6.50%, 10/01/26 (Call 10/01/21)(c) | EUR | 100 | 126,176 | |||||||||
OCI NV, 3.13%, 11/01/24 (Call 11/01/21)(c) | EUR | 100 | 123,107 | |||||||||
PPF Telecom Group BV | ||||||||||||
3.25%, 09/29/27 (Call 06/29/27)(c) | EUR | 175 | 226,333 | |||||||||
3.50%, 05/20/24 (Call 02/20/24)(c) | EUR | 100 | 128,297 | |||||||||
Q-Park Holding I BV, 2.00%, 03/01/27 (Call 03/01/23)(c) | EUR | 150 | 169,180 | |||||||||
Sensata Technologies BV | ||||||||||||
4.88%, 10/15/23(a) | USD | 75 | 80,250 | |||||||||
5.00%, 10/01/25(a) | USD | 100 | 111,000 | |||||||||
5.63%, 11/01/24(a) | USD | 50 | 55,750 | |||||||||
Sigma Holdco BV, 5.75%, 05/15/26 (Call 05/15/21)(c) | EUR | 100 | 116,624 | |||||||||
Trivium Packaging Finance BV | ||||||||||||
3.75%, 08/15/26 (Call 08/15/22)(c) | EUR | 100 | 123,338 | |||||||||
8.50%, 08/15/27 (Call 08/15/22)(a)(b) | USD | 200 | 215,558 | |||||||||
United Group BV | ||||||||||||
3.63%, 02/15/28 (Call 02/15/23)(c) | EUR | 100 | 116,662 | |||||||||
4.88%, 07/01/24 (Call 05/31/21)(c) | EUR | 100 | 122,117 | |||||||||
UPC Broadband Finco BV, 4.88%, 07/15/31 (Call 07/15/26)(a) | USD | 200 | 199,316 | |||||||||
Ziggo Bond Co. BV, 3.38%, 02/28/30 (Call 02/15/25)(c) | EUR | 100 | 119,011 | |||||||||
Ziggo BV | ||||||||||||
2.88%, 01/15/30 (Call 10/15/24)(c) | EUR | 100 | 121,053 | |||||||||
4.25%, 01/15/27 (Call 01/15/22)(c) | EUR | 80 | 100,067 | |||||||||
4.88%, 01/15/30 (Call 10/15/24)(a) | USD | 200 | 205,544 | |||||||||
5.50%, 01/15/27 (Call 01/15/22)(a) | USD | 198 | 206,042 | |||||||||
|
| |||||||||||
3,405,770 | ||||||||||||
Norway — 0.1% | ||||||||||||
Adevinta ASA, 2.63%, 11/15/25 | EUR | 100 | 123,658 | |||||||||
|
| |||||||||||
Portugal — 0.4% | ||||||||||||
Banco Comercial Portugues SA, 3.87%, 03/27/30 (Call 03/27/25)(c)(e) | EUR | 100 | 117,761 | |||||||||
Caixa Geral de Depositos SA, 1.25%, 11/25/24(c) | EUR | 100 | 123,894 | |||||||||
EDP - Energias de Portugal SA | ||||||||||||
1.70%, 07/20/80 (Call 04/20/25)(c)(e) | EUR | 100 | 120,401 | |||||||||
1.88%, 08/02/81 (Call 05/02/26)(c)(e) | EUR | 100 | 120,389 | |||||||||
4.50%, 04/30/79 (Call 01/30/24)(c)(e) | EUR | 100 | 131,187 | |||||||||
Saipem Finance International BV, 3.13%, 03/31/28 (Call 12/31/27)(c) | EUR | 100 | 120,542 | |||||||||
Transportes Aereos Portugueses SA, 5.63%, 12/02/24 (Call 06/02/24)(c) | EUR | 100 | 99,895 | |||||||||
|
| |||||||||||
834,069 | ||||||||||||
Singapore — 0.1% | ||||||||||||
Puma International Financing SA, 5.13%, 10/06/24 (Call 05/11/21)(a) | USD | 200 | 203,730 | |||||||||
|
| |||||||||||
Spain — 1.7% | ||||||||||||
Abanca Corp. Bancaria SA, 4.63%, 04/07/30 (Call 04/07/25)(c)(e) | EUR | 100 | 128,847 | |||||||||
Banco de Sabadell SA | ||||||||||||
1.13%, 03/27/25(c) | EUR | 100 | 122,387 | |||||||||
1.75%, 05/10/24(c) | EUR | 100 | 124,618 | |||||||||
2.50%, 04/15/31 (Call 01/15/26)(c)(e) | EUR | 100 | 120,346 | |||||||||
5.38%, 12/12/28 (Call 12/12/23)(c)(e) | EUR | 100 | 131,531 | |||||||||
Cellnex Finance Co. SA | ||||||||||||
0.75%, 11/15/26 (Call 08/15/26)(c) | EUR | 100 | 119,432 | |||||||||
1.25%, 01/15/29 (Call 10/15/28)(c) | EUR | 100 | 117,519 |
Security | Par (000) | Value | ||||||||||
Spain (continued) | ||||||||||||
2.00%, 02/15/33 (Call 11/15/32)(c) | EUR | 200 | $ | 235,761 | ||||||||
Cellnex Telecom SA | ||||||||||||
1.75%, 10/23/30 (Call 07/23/30)(c) | EUR | 100 | 118,693 | |||||||||
1.88%, 06/26/29 (Call 03/26/29) | EUR | 100 | 122,233 | |||||||||
2.88%, 04/18/25 (Call 01/18/25)(c) | EUR | 100 | 130,423 | |||||||||
3.13%, 07/27/22(c) | EUR | 100 | 125,002 | |||||||||
Cirsa Finance International Sarl, 6.25%, 12/20/23 (Call 05/10/21)(c) | EUR | 100 | 121,949 | |||||||||
ContourGlobal Power Holdings SA, 2.75%, 01/01/26 (Call 01/01/23)(c) | EUR | 100 | 120,739 | |||||||||
eDreams ODIGEO SA, 5.50%, 09/01/23 (Call 05/10/21)(c) | EUR | 100 | 117,117 | |||||||||
El Corte Ingles SA, 3.00%, 03/15/24 (Call 05/10/21)(c) | EUR | 100 | 122,011 | |||||||||
Gestamp Funding Luxembourg SA, 3.50%, 05/15/23 (Call 05/10/21)(c) | EUR | 100 | 120,361 | |||||||||
Grifols SA | ||||||||||||
1.63%, 02/15/25 (Call 02/15/22)(c) | EUR | 100 | 120,899 | |||||||||
2.25%, 11/15/27 (Call 11/15/22)(c) | EUR | 100 | 122,316 | |||||||||
3.20%, 05/01/25 (Call 05/31/21)(c) | EUR | 100 | 121,213 | |||||||||
Grupo-Antolin Irausa SA, 3.25%, 04/30/24 (Call 05/10/21)(c) | EUR | 100 | 120,570 | |||||||||
Ibercaja Banco SA, 2.75%, 07/23/30 (Call 07/23/25)(c)(e) | EUR | 100 | 120,013 | |||||||||
Lorca Telecom Bondco SA, 4.00%, 09/18/27 (Call 09/30/23)(c) | EUR | 100 | 122,524 | |||||||||
Obrascon Huarte Lain SA, 4.75%, 03/15/22 (Call 05/31/21)(c) | EUR | 100 | 84,868 | |||||||||
Repsol International Finance BV, 4.50%, 03/25/75 (Call 03/25/25)(c)(e) | EUR | 100 | 131,621 | |||||||||
|
| |||||||||||
3,142,993 | ||||||||||||
Sweden — 0.7% | ||||||||||||
Akelius Residential Property AB, 3.88%, 10/05/78 (Call 07/08/23)(c)(e) | EUR | 100 | 127,430 | |||||||||
Fastighets AB Balder, 3.00%, 03/07/78 (Call 03/07/23)(c)(e) | EUR | 100 | 122,841 | |||||||||
Intrum AB | ||||||||||||
2.75%, 07/15/22 (Call 05/31/21)(c) | EUR | 10 | 12,035 | |||||||||
3.13%, 07/15/24 (Call 05/31/21)(c) | EUR | 100 | 121,020 | |||||||||
3.50%, 07/15/26 (Call 07/15/22)(c) | EUR | 200 | 242,657 | |||||||||
4.88%, 08/15/25 (Call 08/15/22)(c) | EUR | 100 | 126,449 | |||||||||
Verisure Holding AB | ||||||||||||
3.25%, 02/15/27 (Call 02/15/23)(c) | EUR | 100 | 120,800 | |||||||||
3.88%, 07/15/26 (Call 07/15/22)(c) | EUR | 100 | 123,132 | |||||||||
Verisure Midholding AB, 5.25%, 02/15/29 (Call 02/15/24)(c) | EUR | 200 | 248,190 | |||||||||
Volvo Car AB, 2.13%, 04/02/24 (Call 01/02/24)(c) | EUR | 100 | 125,137 | |||||||||
|
| |||||||||||
1,369,691 | ||||||||||||
Switzerland — 0.3% | ||||||||||||
Dufry One BV | ||||||||||||
2.00%, 02/15/27 (Call 02/15/23)(c) | EUR | 100 | 111,893 | |||||||||
2.50%, 10/15/24 (Call 05/31/21)(c) | EUR | 100 | 118,823 | |||||||||
3.38%, 04/15/28 (Call 04/15/24)(c) | EUR | 100 | 118,331 | |||||||||
Walnut Bidco PLC, 6.75%, 08/01/24 (Call 08/01/21)(c) | EUR | 100 | 125,668 | |||||||||
|
| |||||||||||
474,715 | ||||||||||||
United Kingdom — 4.8% | ||||||||||||
Arqiva Broadcast Finance PLC, 6.75%, 09/30/23 (Call 06/01/21)(c) | GBP | 100 | 142,819 | |||||||||
B&M European Value Retail SA, 3.63%, 07/15/25 (Call 07/15/22)(c) | GBP | 100 | 142,692 | |||||||||
Bellis Acquisition Co. PLC, 3.25%, 02/16/26 (Call 02/24/23)(c) | GBP | 275 | 381,817 | |||||||||
Bellis Finco PLC, 4.00%, 02/16/27 | GBP | 100 | 138,634 |
46 | 2 0 2 1 I SHARES SEMI - ANNUAL REPORT TO SHAREHOLDERS |
Schedule of Investments (unaudited) (continued) April 30, 2021 | iShares® US & Intl High Yield Corp Bond ETF (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||||||
United Kingdom (continued) | ||||||||||||
British Telecommunications PLC, 1.87%, 08/18/80 (Call 05/18/25)(c)(e) | EUR | 100 | $ | 119,192 | ||||||||
Cidron Aida Finco Sarl, 5.00%, 04/01/28 (Call 04/01/24)(c) | EUR | 100 | 122,637 | |||||||||
Connect Finco Sarl/Connect U.S. Finco LLC, 6.75%, 10/01/26 (Call 10/01/22)(a) | USD | 200 | 209,030 | |||||||||
eG Global Finance PLC | ||||||||||||
4.38%, 02/07/25 (Call 06/01/21)(c) | EUR | 100 | 116,585 | |||||||||
6.25%, 10/30/25 (Call 10/30/21)(c) | EUR | 100 | 122,430 | |||||||||
6.75%, 02/07/25 (Call 05/15/21)(a) | USD | 200 | 205,591 | |||||||||
Energia Group NI FinanceCo PLC/Energia Group ROI Holdings DAC, 4.00%, 09/15/25 (Call 05/10/21)(c) | EUR | 100 | 121,542 | |||||||||
Heathrow Finance PLC, 4.38%, 03/01/27(c) | GBP | 100 | 142,506 | |||||||||
Iceland Bondco PLC | ||||||||||||
4.38%, 05/15/28 (Call 02/15/24)(c) | GBP | 100 | 132,945 | |||||||||
4.63%, 03/15/25 (Call 03/15/22)(c) | GBP | 100 | 136,521 | |||||||||
INEOS Quattro Finance 2 PLC, 2.50%, 01/15/26 (Call 01/15/23)(c) | EUR | 100 | 120,691 | |||||||||
INEOS Styrolution Group GmbH, 2.25%, 01/16/27 (Call 01/15/23)(c) | EUR | 100 | 117,538 | |||||||||
International Consolidated Airlines Group SA | ||||||||||||
1.50%, 07/04/27 (Call 04/04/27)(c) | EUR | 100 | 108,971 | |||||||||
2.75%, 03/25/25 (Call 12/25/24)(c) | EUR | 100 | 119,851 | |||||||||
3.75%, 03/25/29 (Call 12/25/28)(c) | EUR | 100 | 119,762 | |||||||||
International Personal Finance PLC, 9.75%, 11/12/25 (Call 11/12/22) | EUR | 100 | 126,240 | |||||||||
Jaguar Land Rover Automotive PLC | ||||||||||||
3.88%, 03/01/23(c) | GBP | 100 | 139,581 | |||||||||
4.50%, 01/15/26 (Call 10/15/25)(c) | EUR | 100 | 124,285 | |||||||||
5.63%, 02/01/23 (Call 06/01/21)(a) | USD | 150 | 150,472 | |||||||||
5.88%, 11/15/24 (Call 08/15/24)(c) | EUR | 100 | 130,530 | |||||||||
Jerrold Finco PLC, 4.88%, 01/15/26 (Call 01/15/22)(c) | GBP | 100 | 141,909 | |||||||||
Marks & Spencer PLC | ||||||||||||
3.75%, 05/19/26 (Call 02/19/26)(c) | GBP | 100 | 143,357 | |||||||||
6.00%, 06/12/25(c) | GBP | 100 | 155,737 | |||||||||
Metro Bank PLC, 5.50%, 06/26/28 (Call 06/26/23)(c)(e) | GBP | 100 | 84,921 | |||||||||
Modulaire Global Finance PLC, 6.50%, 02/15/23 (Call 05/10/21)(c) | EUR | 100 | 122,331 | |||||||||
Motion Finco Sarl, 7.00%, 05/15/25 (Call 05/15/22)(c) | EUR | 100 | 126,899 | |||||||||
NGG Finance PLC | ||||||||||||
1.63%, 12/05/79 (Call 09/05/24)(c)(e) | EUR | 100 | 121,649 | |||||||||
2.13%, 09/05/82 (Call 06/05/27)(c)(e) | EUR | 100 | 122,724 | |||||||||
5.63%, 06/18/73 (Call 06/18/25)(c)(e) | GBP | 100 | 155,349 | |||||||||
Pinewood Finance Co. Ltd., 3.25%, 09/30/25 (Call 09/30/21)(c) | GBP | 100 | 140,836 | |||||||||
Pinnacle Bidco PLC, 5.50%, 02/15/25 | EUR | 100 | 121,863 | |||||||||
Playtech PLC, 4.25%, 03/07/26 | EUR | 100 | 123,971 | |||||||||
Rolls-Royce PLC | ||||||||||||
0.88%, 05/09/24 (Call 02/09/24)(c) | EUR | 100 | 116,364 | |||||||||
3.38%, 06/18/26 | GBP | 100 | 137,587 | |||||||||
4.63%, 02/16/26 (Call 11/16/25)(c) | EUR | 100 | 129,813 | |||||||||
5.75%, 10/15/27 (Call 07/15/27)(a) | USD | 200 | 214,133 | |||||||||
Stonegate Pub Co. Financing 2019 PLC, 8.25%, 07/31/25 (Call 07/31/22)(c) | GBP | 100 | 146,014 | |||||||||
Synthomer PLC, 3.88%, 07/01/25 (Call 07/01/22)(c) | EUR | 100 | 125,741 | |||||||||
TechnipFMC PLC, 6.50%, 02/01/26 (Call 02/01/23)(a) | USD | 110 | 117,432 | |||||||||
Thames Water Utilities Finance PLC, 5.75%, 09/13/30 (Call 09/13/22)(e) | GBP | 125 | 182,478 | |||||||||
Very Group Funding Plc/The, 7.75%, 11/15/22 (Call 06/01/21)(c) | GBP | 100 | 140,300 | |||||||||
Victoria PLC, 3.63%, 08/24/26 (Call 02/28/23)(c) | EUR | 100 | 122,003 |
Security | Par (000) | Value | ||||||||||
United Kingdom (continued) | ||||||||||||
Virgin Media Finance PLC | ||||||||||||
3.75%, 07/15/30 (Call 07/15/25)(c) | EUR | 100 | $ | 120,672 | ||||||||
5.00%, 07/15/30 (Call 07/15/25)(a) | USD | 200 | 199,540 | |||||||||
Virgin Media Secured Finance PLC | ||||||||||||
4.25%, 01/15/30 (Call 10/15/24)(c) | GBP | 150 | 208,596 | |||||||||
5.00%, 04/15/27 (Call 04/15/22)(c) | GBP | 100 | 144,551 | |||||||||
5.50%, 05/15/29 (Call 05/15/24)(a)(b) | USD | 200 | 213,850 | |||||||||
Virgin Media Vendor Financing Notes III DAC, 4.88%, 07/15/28 (Call 07/15/23)(c) | GBP | 100 | 142,017 | |||||||||
Vmed O2 UK Financing I PLC | ||||||||||||
3.25%, 01/31/31 (Call 01/31/26)(c) | EUR | 150 | 182,296 | |||||||||
4.00%, 01/31/29 (Call 01/31/24)(c) | GBP | 100 | 138,440 | |||||||||
Vodafone Group PLC | ||||||||||||
3.10%, 01/03/79 (Call 10/03/23)(c)(e) | EUR | 200 | 250,373 | |||||||||
4.20%, 10/03/78 (Call 07/03/28)(c)(e) | EUR | 100 | 135,803 | |||||||||
4.88%, 10/03/78 (Call 07/03/25)(c)(e) | GBP | 100 | 150,317 | |||||||||
7.00%, 04/04/79 (Call 01/04/29)(e) | USD | 275 | 334,797 | |||||||||
Series NC10, 3.00%, 08/27/80 | EUR | 100 | 124,393 | |||||||||
Series NC6, 2.63%, 08/27/80 | EUR | 100 | 124,137 | |||||||||
|
| |||||||||||
8,956,055 | ||||||||||||
United States — 65.5% | ||||||||||||
Acrisure LLC/Acrisure Finance Inc. | ||||||||||||
4.25%, 02/15/29 (Call 02/15/24)(a) | USD | 70 | 68,517 | |||||||||
7.00%, 11/15/25 (Call 06/01/21)(a)(b) | USD | 115 | 118,395 | |||||||||
10.13%, 08/01/26 (Call 08/01/22)(a) | USD | 30 | 34,294 | |||||||||
Adient Global Holdings Ltd., 3.50%, 08/15/24 (Call 05/15/24)(c) | EUR | 100 | 124,026 | |||||||||
Adient U.S. LLC | ||||||||||||
7.00%, 05/15/26 (Call 05/07/21)(a) | USD | 2 | 2,143 | |||||||||
9.00%, 04/15/25 (Call 04/15/22)(a) | USD | 60 | 66,495 | |||||||||
ADT Security Corp. (The) | ||||||||||||
3.50%, 07/15/22 | USD | 125 | 127,969 | |||||||||
4.13%, 06/15/23 | USD | 90 | 94,067 | |||||||||
AECOM, 5.13%, 03/15/27 (Call 12/15/26) | USD | 125 | 139,062 | |||||||||
Albertsons Companies Inc./Safeway Inc./New Albertsons LP/Albertsons LLC | ||||||||||||
3.25%, 03/15/26 (Call 09/15/22)(a) | USD | 55 | 55,005 | |||||||||
3.50%, 02/15/23 (Call 12/15/22)(a) | USD | 60 | 61,785 | |||||||||
3.50%, 03/15/29 (Call 09/15/23)(a) | USD | 125 | 120,000 | |||||||||
4.63%, 01/15/27 (Call 01/15/23)(a)(b) | USD | 170 | 176,800 | |||||||||
4.88%, 02/15/30 (Call 02/15/25)(a)(b) | USD | 100 | 104,115 | |||||||||
5.88%, 02/15/28 (Call 08/15/22)(a)(b) | USD | 125 | 133,435 | |||||||||
7.50%, 03/15/26 (Call 03/15/22)(a) | USD | 75 | 82,629 | |||||||||
Alcoa Nederland Holding BV | ||||||||||||
6.13%, 05/15/28 (Call 05/15/23)(a) | USD | 200 | 217,968 | |||||||||
7.00%, 09/30/26 (Call 09/30/21)(a) | USD | 200 | 211,015 | |||||||||
Alliant Holdings Intermediate LLC/Alliant Holdings Co-Issuer | ||||||||||||
4.25%, 10/15/27 (Call 10/15/23)(a) | USD | 70 | 71,094 | |||||||||
6.75%, 10/15/27 (Call 10/15/22)(a) | USD | 130 | 136,658 | |||||||||
Allied Universal Holdco LLC/Allied Universal Finance Corp. | ||||||||||||
6.63%, 07/15/26 (Call 07/15/22)(a)(b) | USD | 170 | 180,200 | |||||||||
9.75%, 07/15/27 (Call 07/15/22)(a) | USD | 140 | 153,778 | |||||||||
Allison Transmission Inc. | ||||||||||||
3.75%, 01/30/31 (Call 01/30/26)(a)(b) | USD | 110 | 105,875 | |||||||||
4.75%, 10/01/27 (Call 10/01/22)(a) | USD | 50 | 52,605 | |||||||||
5.88%, 06/01/29 (Call 06/01/24)(a) | USD | 70 | 75,688 | |||||||||
Ally Financial Inc., 5.75%, 11/20/25 (Call 10/21/25) | USD | 130 | 149,067 |
SCHEDULE OF INVESTMENTS | 47 |
Schedule of Investments (unaudited) (continued) April 30, 2021 | iShares® US & Intl High Yield Corp Bond ETF (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||||||
United States (continued) | ||||||||||||
AMC Entertainment Holdings Inc. | ||||||||||||
10.50%, 04/15/25 (Call 04/15/22)(a) | USD | 50 | $ | 53,479 | ||||||||
10.50%, 04/24/26 (Call 06/15/22)(a) | USD | 92 | 97,060 | |||||||||
AMC Networks Inc. | ||||||||||||
4.25%, 02/15/29 (Call 02/15/24) | USD | 125 | 123,437 | |||||||||
4.75%, 08/01/25 (Call 08/01/21)(b) | USD | 100 | 103,000 | |||||||||
5.00%, 04/01/24 (Call 06/01/21) | USD | 96 | 97,416 | |||||||||
American Airlines Group Inc. | ||||||||||||
3.75%, 03/01/25(a)(b) | USD | 65 | 57,159 | |||||||||
5.00%, 06/01/22(a)(b) | USD | 95 | 94,288 | |||||||||
American Airlines Inc., 11.75%, 07/15/25(a)(b) | USD | 300 | 376,612 | |||||||||
American Airlines Inc./AAdvantage Loyalty IP Ltd. | ||||||||||||
5.50%, 04/20/26(a) | USD | 355 | 372,750 | |||||||||
5.75%, 04/20/29(a) | USD | 350 | 375,087 | |||||||||
American Axle & Manufacturing Inc. | ||||||||||||
6.25%, 04/01/25 (Call 06/01/21)(b) | USD | 90 | 93,263 | |||||||||
6.25%, 03/15/26 (Call 05/11/21)(b) | USD | 50 | 51,453 | |||||||||
6.50%, 04/01/27 (Call 04/01/22)(b) | USD | 60 | 63,375 | |||||||||
6.88%, 07/01/28 (Call 07/01/23)(b) | USD | 50 | 53,438 | |||||||||
American Builders & Contractors Supply Co. Inc., 4.00%, 01/15/28 (Call 01/15/23)(a) | USD | 100 | 101,994 | |||||||||
AmeriGas Partners LP/AmeriGas Finance Corp. | ||||||||||||
5.50%, 05/20/25 (Call 02/20/25) | USD | 90 | 99,948 | |||||||||
5.63%, 05/20/24 (Call 03/20/24) | USD | 85 | 94,750 | |||||||||
5.75%, 05/20/27 (Call 02/20/27) | USD | 75 | 83,876 | |||||||||
5.88%, 08/20/26 (Call 05/20/26) | USD | 75 | 84,038 | |||||||||
Antero Midstream Partners LP/Antero Midstream Finance Corp. | ||||||||||||
5.38%, 09/15/24 (Call 05/17/21) | USD | 80 | 81,463 | |||||||||
5.75%, 03/01/27 (Call 03/01/22)(a) | USD | 85 | 86,090 | |||||||||
5.75%, 01/15/28 (Call 01/15/23)(a) | USD | 80 | 81,522 | |||||||||
7.88%, 05/15/26 (Call 05/15/23)(a) | USD | 50 | 54,565 | |||||||||
Antero Resources Corp. | ||||||||||||
5.00%, 03/01/25 (Call 06/01/21)(b) | USD | 75 | 76,125 | |||||||||
5.63%, 06/01/23 (Call 06/01/21) | USD | 95 | 95,356 | |||||||||
7.63%, 02/01/29 (Call 02/01/24)(a) | USD | 60 | 65,010 | |||||||||
8.38%, 07/15/26 (Call 01/15/24)(a)(b) | USD | 65 | 73,078 | |||||||||
Apache Corp. | ||||||||||||
4.25%, 01/15/30 (Call 10/15/29)(b) | USD | 75 | 75,158 | |||||||||
4.38%, 10/15/28 (Call 07/15/28)(b) | USD | 100 | 102,070 | |||||||||
4.63%, 11/15/25 (Call 08/15/25)(b) | USD | 15 | 15,844 | |||||||||
4.88%, 11/15/27 (Call 05/15/27) | USD | 95 | 100,409 | |||||||||
APX Group Inc. | ||||||||||||
6.75%, 02/15/27 (Call 02/15/23)(a) | USD | 80 | 85,996 | |||||||||
7.88%, 12/01/22 (Call 06/01/21) | USD | 94 | 94,429 | |||||||||
Aramark Services Inc. | ||||||||||||
4.75%, 06/01/26 (Call 06/01/21) | USD | 50 | 51,200 | |||||||||
5.00%, 04/01/25 (Call 06/01/21)(a)(b) | USD | 75 | 76,969 | |||||||||
5.00%, 02/01/28 (Call 02/01/23)(a)(b) | USD | 145 | 151,706 | |||||||||
6.38%, 05/01/25 (Call 05/01/22)(a) | USD | 195 | 207,431 | |||||||||
Arches Buyer Inc. | ||||||||||||
4.25%, 06/01/28 (Call 12/01/23)(a) | USD | 30 | 29,888 | |||||||||
6.13%, 12/01/28 (Call 12/01/23)(a)(b) | USD | 65 | 66,950 | |||||||||
Archrock Partners LP/Archrock Partners Finance Corp. | ||||||||||||
6.25%, 04/01/28 (Call 04/01/23)(a) | USD | 65 | 68,042 | |||||||||
6.88%, 04/01/27 (Call 04/01/22)(a) | USD | 65 | 69,156 | |||||||||
Arconic Corp. | ||||||||||||
6.00%, 05/15/25 (Call 05/15/22)(a)(b) | USD | 70 | 74,787 | |||||||||
6.13%, 02/15/28 (Call 02/15/23)(a) | USD | 90 | 95,400 |
Security | Par (000) | Value | ||||||||||
United States (continued) | ||||||||||||
Ardagh Metal Packaging Finance USA LLC/Ardagh Metal Packaging Finance PLC, 2.00%, 09/01/28 (Call 05/15/24)(c) | EUR | 100 | $ | 120,510 | ||||||||
Ardagh Packaging Finance PLC/Ardagh Holdings USA Inc. | ||||||||||||
2.13%, 08/15/26 (Call 08/15/22)(c) | EUR | 225 | 270,696 | |||||||||
5.25%, 08/15/27 (Call 08/15/22)(a) | USD | 400 | 408,334 | |||||||||
Ascent Resources Utica Holdings LLC/ARU Finance Corp., 7.00%, 11/01/26 (Call 11/01/21)(a) | USD | 75 | 75,938 | |||||||||
AssuredPartners Inc., 5.63%, 01/15/29 (Call 12/15/23)(a)(b) | USD | 75 | 75,932 | |||||||||
Avantor Funding Inc. | ||||||||||||
2.63%, 11/01/25 (Call 11/01/22)(c) | EUR | 100 | 123,273 | |||||||||
4.63%, 07/15/28 (Call 07/15/23)(a) | USD | 180 | 188,550 | |||||||||
Avaya Inc., 6.13%, 09/15/28 (Call 09/15/23)(a) | USD | 100 | 106,466 | |||||||||
Avient Corp., 5.75%, 05/15/25 (Call 05/15/22)(a) | USD | 95 | 100,523 | |||||||||
Avis Budget Car Rental LLC/Avis Budget Finance Inc. | ||||||||||||
4.75%, 04/01/28 (Call 04/01/24)(a) | USD | 50 | 51,605 | |||||||||
5.38%, 03/01/29 (Call 03/01/24)(a) | USD | 65 | 67,999 | |||||||||
5.75%, 07/15/27 (Call 07/15/22)(a)(b) | USD | 55 | 58,234 | |||||||||
Avis Budget Finance PLC, 4.75%, 01/30/26 (Call 09/30/21)(c) | EUR | 100 | 122,137 | |||||||||
Axalta Coating Systems Dutch Holding B BV, 3.75%, 01/15/25 (Call 05/10/21)(c) | EUR | 125 | 153,127 | |||||||||
Axalta Coating Systems LLC, 3.38%, 02/15/29 (Call 02/15/24)(a) | USD | 150 | 145,954 | |||||||||
B&G Foods Inc. | ||||||||||||
5.25%, 04/01/25 (Call 06/01/21) | USD | 115 | 118,374 | |||||||||
5.25%, 09/15/27 (Call 03/01/22)(b) | USD | 70 | 72,442 | |||||||||
Ball Corp. | ||||||||||||
1.50%, 03/15/27 (Call 12/15/26) | EUR | 100 | 122,694 | |||||||||
2.88%, 08/15/30 (Call 05/15/30) | USD | 125 | 120,776 | |||||||||
4.00%, 11/15/23 | USD | 125 | 133,309 | |||||||||
4.38%, 12/15/23 | EUR | 100 | 132,960 | |||||||||
4.88%, 03/15/26 (Call 12/15/25) | USD | 95 | 106,619 | |||||||||
5.25%, 07/01/25 | USD | 125 | 141,557 | |||||||||
Banff Merger Sub Inc., 9.75%, 09/01/26 (Call 09/01/21)(a) | USD | 185 | 197,046 | |||||||||
Bausch Health Americas Inc. | ||||||||||||
8.50%, 01/31/27 (Call 07/31/22)(a) | USD | 220 | 244,750 | |||||||||
9.25%, 04/01/26 (Call 04/01/22)(a) | USD | 190 | 210,452 | |||||||||
Bausch Health Companies Inc. | ||||||||||||
5.00%, 01/30/28 (Call 01/30/23)(a) | USD | 180 | 182,700 | |||||||||
5.25%, 01/30/30 (Call 01/30/25)(a) | USD | 130 | 130,682 | |||||||||
5.50%, 11/01/25 (Call 05/31/21)(a) | USD | 220 | 226,875 | |||||||||
5.75%, 08/15/27 (Call 08/15/22)(a) | USD | 65 | 69,847 | |||||||||
6.13%, 04/15/25 (Call 05/31/21)(a) | USD | 360 | 368,019 | |||||||||
6.25%, 02/15/29 (Call 02/15/24)(a) | USD | 160 | 169,152 | |||||||||
7.00%, 03/15/24 (Call 05/31/21)(a) | USD | 90 | 92,301 | |||||||||
7.00%, 01/15/28 (Call 01/15/23)(a) | USD | 95 | 103,589 | |||||||||
7.25%, 05/30/29 (Call 05/30/24)(a) | USD | 95 | 105,450 | |||||||||
9.00%, 12/15/25 (Call 12/15/21)(a) | USD | 140 | 151,813 | |||||||||
Beacon Roofing Supply Inc., 4.88%, 11/01/25 (Call 05/19/21)(a) | USD | 165 | 169,051 | |||||||||
Belden Inc., 3.88%, 03/15/28 (Call 03/15/23)(c) | EUR | 150 | 187,748 | |||||||||
Berry Global Inc. | ||||||||||||
1.00%, 01/15/25 (Call 10/15/24)(c) | EUR | 100 | 121,592 | |||||||||
4.50%, 02/15/26 (Call 06/01/21)(a)(b) | USD | 65 | 66,584 | |||||||||
4.88%, 07/15/26 (Call 07/15/22)(a) | USD | 180 | 190,686 | |||||||||
5.63%, 07/15/27 (Call 07/15/22)(a) | USD | 65 | 69,232 | |||||||||
Black Knight InfoServ LLC, 3.63%, 09/01/28 (Call 09/01/23)(a)(b) | USD | 100 | 98,307 |
48 | 2 0 2 1 I SHARES SEMI - ANNUAL REPORT TO SHAREHOLDERS |
Schedule of Investments (unaudited) (continued) April 30, 2021 | iShares® US & Intl High Yield Corp Bond ETF (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||||||
United States (continued) | ||||||||||||
Blue Cube Spinco LLC, 10.00%, 10/15/25 (Call 05/14/21)(b) | USD | 24 | $ | 25,285 | ||||||||
Boxer Parent Co. Inc. | ||||||||||||
6.50%, 10/02/25 (Call 06/01/22)(c) | EUR | 100 | 128,201 | |||||||||
7.13%, 10/02/25 (Call 06/01/22)(a) | USD | 65 | 70,024 | |||||||||
Boyd Gaming Corp. | ||||||||||||
4.75%, 12/01/27 (Call 12/01/22) | USD | 125 | 128,123 | |||||||||
6.00%, 08/15/26 (Call 08/15/21) | USD | 90 | 93,555 | |||||||||
6.38%, 04/01/26 (Call 05/17/21) | USD | 95 | 98,287 | |||||||||
8.63%, 06/01/25 (Call 06/01/22)(a) | USD | 60 | 66,432 | |||||||||
Brand Industrial Services Inc., 8.50%, 07/15/25 (Call 06/01/21)(a)(b) | USD | 125 | 127,808 | |||||||||
Brink’s Co. (The), 5.50%, 07/15/25 (Call 07/15/22)(a) | USD | 115 | 121,749 | |||||||||
Buckeye Partners LP | ||||||||||||
3.95%, 12/01/26 (Call 09/01/26) | USD | 75 | 75,369 | |||||||||
4.13%, 03/01/25 (Call 02/01/25)(a) | USD | 50 | 51,508 | |||||||||
4.13%, 12/01/27 (Call 09/01/27) | USD | 75 | 74,371 | |||||||||
4.15%, 07/01/23 (Call 04/01/23) | USD | 50 | 51,790 | |||||||||
4.50%, 03/01/28 (Call 12/01/27)(a) | USD | 50 | 50,284 | |||||||||
6.38%, 01/22/78 (Call 01/22/23)(e) | USD | 50 | 40,591 | |||||||||
Builders FirstSource Inc. | ||||||||||||
5.00%, 03/01/30 (Call 03/01/25)(a) | USD | 75 | 79,763 | |||||||||
6.75%, 06/01/27 (Call 06/01/22)(a) | USD | 45 | 48,449 | |||||||||
Caesars Entertainment Inc. | ||||||||||||
6.25%, 07/01/25 (Call 07/01/22)(a) | USD | 380 | 404,225 | |||||||||
8.13%, 07/01/27 (Call 07/01/23)(a) | USD | 160 | 178,000 | |||||||||
Caesars Resort Collection LLC/CRC Finco Inc. | ||||||||||||
5.25%, 10/15/25 (Call 05/11/21)(a) | USD | 240 | 241,953 | |||||||||
5.75%, 07/01/25 (Call 07/01/22)(a) | USD | 110 | 115,912 | |||||||||
Callon Petroleum Co. | ||||||||||||
6.13%, 10/01/24 (Call 06/01/21) | USD | 50 | 46,250 | |||||||||
6.25%, 04/15/23 (Call 06/01/21) | USD | 50 | 47,500 | |||||||||
Calpine Corp. | ||||||||||||
3.75%, 03/01/31 (Call 03/01/26)(a) | USD | 125 | 118,819 | |||||||||
4.50%, 02/15/28 (Call 02/15/23)(a) | USD | 155 | 156,626 | |||||||||
4.63%, 02/01/29 (Call 02/01/24)(a) | USD | 65 | 64,127 | |||||||||
5.00%, 02/01/31 (Call 02/01/26)(a) | USD | 65 | 63,920 | |||||||||
5.13%, 03/15/28 (Call 03/15/23)(a) | USD | 150 | 152,448 | |||||||||
5.25%, 06/01/26 (Call 06/01/21)(a) | USD | 175 | 179,506 | |||||||||
Calumet Specialty Products Partners LP/Calumet Finance Corp., 11.00%, 04/15/25 (Call 10/15/21)(a) | USD | 70 | 76,213 | |||||||||
Carnival PLC, 1.00%, 10/28/29 (Call 07/28/29) | EUR | 100 | 98,840 | |||||||||
Carvana Co. | ||||||||||||
5.50%, 04/15/27 (Call 04/15/24)(a) | USD | 75 | 76,399 | |||||||||
5.63%, 10/01/25 (Call 10/01/22)(a) | USD | 55 | 56,767 | |||||||||
5.88%, 10/01/28 (Call 10/01/23)(a)(b) | USD | 65 | 67,512 | |||||||||
Catalent Pharma Solutions Inc. | ||||||||||||
2.38%, 03/01/28 (Call 03/01/23)(c) | EUR | 100 | 119,984 | |||||||||
3.13%, 02/15/29 (Call 02/15/24)(a) | USD | 65 | 63,050 | |||||||||
CCO Holdings LLC/CCO Holdings Capital Corp. | ||||||||||||
4.00%, 03/01/23 (Call 05/17/21)(a) | USD | 65 | 65,691 | |||||||||
4.25%, 02/01/31 (Call 07/01/25)(a) | USD | 350 | 350,000 | |||||||||
4.50%, 08/15/30 (Call 02/15/25)(a) | USD | 310 | 316,135 | |||||||||
4.50%, 05/01/32 (Call 05/01/26)(a) | USD | 310 | 313,490 | |||||||||
4.50%, 06/01/33 (Call 06/01/27)(a) | USD | 120 | 120,863 | |||||||||
4.75%, 03/01/30 (Call 09/01/24)(a) | USD | 335 | 349,656 | |||||||||
5.00%, 02/01/28 (Call 08/01/22)(a) | USD | 265 | 276,925 | |||||||||
5.13%, 05/01/27 (Call 05/01/22)(a) | USD | 355 | 372,054 | |||||||||
5.38%, 06/01/29 (Call 06/01/24)(a) | USD | 190 | 206,010 | |||||||||
5.50%, 05/01/26 (Call 06/01/21)(a) | USD | 190 | 196,080 |
Security | Par (000) | Value | ||||||||||
United States (continued) | ||||||||||||
5.75%, 02/15/26 (Call 06/01/21)(a) | USD | 185 | $ | 191,168 | ||||||||
5.88%, 05/01/27 (Call 06/01/21)(a) | USD | 100 | 103,406 | |||||||||
CDK Global Inc. | ||||||||||||
4.88%, 06/01/27 (Call 06/01/22) | USD | 75 | 79,254 | |||||||||
5.00%, 10/15/24 (Call 07/15/24) | USD | 65 | 71,208 | |||||||||
5.25%, 05/15/29 (Call 05/15/24)(a) | USD | 65 | 70,050 | |||||||||
CDW LLC/CDW Finance Corp. | ||||||||||||
3.25%, 02/15/29 (Call 02/15/23) | USD | 40 | 39,650 | |||||||||
4.13%, 05/01/25 (Call 05/01/22) | USD | 75 | 78,265 | |||||||||
4.25%, 04/01/28 (Call 10/01/22) | USD | 75 | 78,131 | |||||||||
5.50%, 12/01/24 (Call 06/01/24) | USD | 70 | 77,343 | |||||||||
Cedar Fair LP, 5.25%, 07/15/29 (Call 07/15/24) | USD | 70 | 71,862 | |||||||||
Cedar Fair LP/Canada’s Wonderland Co./Magnum Management Corp./Millennium Op | ||||||||||||
5.38%, 04/15/27 (Call 04/15/22) | USD | 85 | 87,803 | |||||||||
5.50%, 05/01/25 (Call 05/01/22)(a) | USD | 150 | 157,510 | |||||||||
Centene Corp. | ||||||||||||
2.50%, 03/01/31 (Call 12/01/30) | USD | 255 | 243,683 | |||||||||
3.00%, 10/15/30 (Call 07/15/30) | USD | 170 | 168,725 | |||||||||
3.38%, 02/15/30 (Call 02/15/25) | USD | 300 | 301,510 | |||||||||
4.25%, 12/15/27 (Call 12/15/22) | USD | 315 | 330,750 | |||||||||
4.63%, 12/15/29 (Call 12/15/24) | USD | 365 | 395,653 | |||||||||
5.38%, 06/01/26 (Call 06/01/21)(a) | USD | 225 | 234,686 | |||||||||
5.38%, 08/15/26 (Call 08/15/21)(a) | USD | 95 | 99,093 | |||||||||
Central Garden & Pet Co. | ||||||||||||
4.13%, 10/15/30 (Call 10/15/25) | USD | 50 | 51,574 | |||||||||
4.13%, 04/30/31 (Call 04/30/26)(a) | USD | 20 | 19,900 | |||||||||
CF Industries Inc., 3.45%, 06/01/23 | USD | 95 | 99,275 | |||||||||
Change Healthcare Holdings LLC/Change Healthcare Finance Inc., 5.75%, 03/01/25 (Call 05/11/21)(a) | USD | 125 | 127,219 | |||||||||
Charles River Laboratories International Inc. | ||||||||||||
3.75%, 03/15/29 (Call 03/15/24)(a) | USD | 50 | 50,904 | |||||||||
4.00%, 03/15/31 (Call 03/15/26)(a) | USD | 65 | 66,950 | |||||||||
4.25%, 05/01/28 (Call 05/01/23)(a) | USD | 65 | 67,706 | |||||||||
Chemours Co. (The) | ||||||||||||
5.38%, 05/15/27 (Call 02/15/27)(b) | USD | 65 | 69,701 | |||||||||
5.75%, 11/15/28 (Call 11/15/23)(a) | USD | 85 | 90,419 | |||||||||
7.00%, 05/15/25 (Call 06/01/21) | USD | 95 | 97,731 | |||||||||
Cheniere Energy Inc., 4.63%, 10/15/28 (Call 10/15/23)(a) | USD | 260 | 271,251 | |||||||||
Cheniere Energy Partners LP | ||||||||||||
4.00%, 03/01/31 (Call 03/01/26)(a) | USD | 125 | 127,213 | |||||||||
4.50%, 10/01/29 (Call 10/01/24) | USD | 190 | 198,312 | |||||||||
5.63%, 10/01/26 (Call 10/01/21) | USD | 140 | 145,950 | |||||||||
Chesapeake Energy Corp. | ||||||||||||
5.50%, 02/01/26 (Call 02/05/23)(a) | USD | 55 | 58,175 | |||||||||
5.88%, 02/01/29 (Call 02/05/24)(a) | USD | 57 | 61,418 | |||||||||
CHS/Community Health Systems Inc. | ||||||||||||
4.75%, 02/15/31 (Call 02/15/26)(a) | USD | 110 | 109,285 | |||||||||
5.63%, 03/15/27 (Call 12/15/23)(a) | USD | 80 | 84,736 | |||||||||
6.00%, 01/15/29 (Call 01/15/24)(a) | USD | 20 | 21,055 | |||||||||
6.63%, 02/15/25 (Call 02/15/22)(a) | USD | 205 | 216,497 | |||||||||
6.88%, 04/01/28 (Call 04/01/23)(a) | USD | 185 | 175,050 | |||||||||
6.88%, 04/15/29 (Call 04/15/24)(a) | USD | 195 | 204,229 | |||||||||
8.00%, 03/15/26 (Call 03/15/22)(a) | USD | 285 | 307,087 | |||||||||
8.00%, 12/15/27 (Call 12/15/22)(a) | USD | 89 | 98,012 | |||||||||
8.13%, 06/30/24 (Call 06/30/21)(a) | USD | 170 | 178,174 | |||||||||
Churchill Downs Inc. | ||||||||||||
4.75%, 01/15/28 (Call 01/15/23)(a) | USD | 65 | 67,037 | |||||||||
5.50%, 04/01/27 (Call 04/01/22)(a) | USD | 80 | 83,180 | |||||||||
Cincinnati Bell Inc., 7.00%, 07/15/24 (Call 09/15/21)(a) | USD | 80 | 82,580 |
SCHEDULE OF INVESTMENTS | 49 |
Schedule of Investments (unaudited) (continued) April 30, 2021 | iShares® US & Intl High Yield Corp Bond ETF (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||||||
United States (continued) | ||||||||||||
Cinemark USA Inc. | ||||||||||||
4.88%, 06/01/23 (Call 06/01/21) | USD | 95 | $ | 94,877 | ||||||||
5.88%, 03/15/26 (Call 03/15/23)(a)(b) | USD | 35 | 36,435 | |||||||||
CIT Group Inc. | ||||||||||||
3.93%, 06/19/24 (Call 06/19/23)(b)(e) | USD | 60 | 63,523 | |||||||||
4.75%, 02/16/24 (Call 11/16/23) | USD | 65 | 70,850 | |||||||||
5.00%, 08/15/22 | USD | 95 | 100,054 | |||||||||
5.00%, 08/01/23 | USD | 100 | 108,625 | |||||||||
5.25%, 03/07/25 (Call 12/07/24) | USD | 65 | 73,369 | |||||||||
6.13%, 03/09/28 | USD | 50 | 60,875 | |||||||||
Citgo Holding Inc., 9.25%, 08/01/24 (Call 08/01/21)(a) | USD | 175 | 180,547 | |||||||||
CITGO Petroleum Corp. | ||||||||||||
6.38%, 06/15/26 (Call 06/15/23)(a) | USD | 70 | 71,681 | |||||||||
7.00%, 06/15/25 (Call 06/15/22)(a) | USD | 100 | 103,125 | |||||||||
Clarios Global LP, 6.75%, 05/15/25 (Call 05/15/22)(a) | USD | 30 | 32,229 | |||||||||
Clarios Global LP/Clarios US Finance Co. | ||||||||||||
4.38%, 05/15/26 (Call 05/15/22)(c) | EUR | 100 | 124,254 | |||||||||
6.25%, 05/15/26 (Call 05/15/22)(a) | USD | 175 | 185,946 | |||||||||
8.50%, 05/15/27 (Call 05/15/22)(a) | USD | 245 | 264,600 | |||||||||
Clear Channel Outdoor Holdings Inc., 7.75%, 04/15/28 (Call 04/15/24)(a) | USD | 115 | 118,675 | |||||||||
Clear Channel Worldwide Holdings Inc. | ||||||||||||
5.13%, 08/15/27 (Call 08/15/22)(a) | USD | 130 | 132,423 | |||||||||
9.25%, 02/15/24 (Call 06/01/21)(b) | USD | 108 | 112,696 | |||||||||
Clearway Energy Operating LLC | ||||||||||||
3.75%, 02/15/31 (Call 02/15/26)(a) | USD | 95 | 93,522 | |||||||||
4.75%, 03/15/28 (Call 03/15/23)(a) | USD | 85 | 89,128 | |||||||||
Cleveland-Cliffs Inc. | ||||||||||||
4.63%, 03/01/29 (Call 03/01/24)(a)(b) | USD | 55 | 55,834 | |||||||||
4.88%, 03/01/31 (Call 03/01/26)(a) | USD | 45 | 45,788 | |||||||||
5.88%, 06/01/27 (Call 06/01/22)(b) | USD | 50 | 52,500 | |||||||||
6.75%, 03/15/26 (Call 03/15/22)(a) | USD | 95 | 103,302 | |||||||||
9.88%, 10/17/25 (Call 10/17/22)(a) | USD | 85 | 99,769 | |||||||||
CNX Resources Corp., 6.00%, 01/15/29 (Call 01/15/24)(a) | USD | 55 | 58,700 | |||||||||
Colfax Corp. | ||||||||||||
3.25%, 05/15/25 (Call 06/01/21)(c) | EUR | 100 | 121,444 | |||||||||
6.38%, 02/15/26 (Call 02/15/22)(a) | USD | 37 | 39,474 | |||||||||
CommScope Inc. | ||||||||||||
5.50%, 03/01/24 (Call 06/01/21)(a) | USD | 155 | 159,835 | |||||||||
6.00%, 03/01/26 (Call 03/01/22)(a)(b) | USD | 90 | 94,838 | |||||||||
7.13%, 07/01/28 (Call 07/01/23)(a)(b) | USD | 90 | 97,343 | |||||||||
8.25%, 03/01/27 (Call 03/01/22)(a) | USD | 125 | 133,906 | |||||||||
CommScope Technologies LLC | ||||||||||||
5.00%, 03/15/27 (Call 03/15/22)(a)(b) | USD | 90 | 89,121 | |||||||||
6.00%, 06/15/25 (Call 05/11/21)(a) | USD | 131 | 133,292 | |||||||||
Compass Group Diversified Holdings LLC, 5.25%, 04/15/29 (Call 04/15/24)(a) | USD | 100 | 105,647 | |||||||||
Comstock Resources Inc. | ||||||||||||
6.75%, 03/01/29 (Call 03/01/24)(a) | USD | 130 | 132,795 | |||||||||
7.50%, 05/15/25 (Call 06/01/21)(a) | USD | 28 | 29,033 | |||||||||
9.75%, 08/15/26 (Call 08/15/21)(b) | USD | 100 | 108,728 | |||||||||
Consolidated Communications Inc. | ||||||||||||
5.00%, 10/01/28 (Call 10/01/23)(a)(b) | USD | 50 | 50,750 | |||||||||
6.50%, 10/01/28 (Call 10/01/23)(a)(b) | USD | 20 | 21,536 | |||||||||
Continental Resources Inc./OK | ||||||||||||
3.80%, 06/01/24 (Call 03/01/24) | USD | 125 | 130,459 | |||||||||
4.38%, 01/15/28 (Call 10/15/27)(b) | USD | 125 | 135,937 | |||||||||
4.50%, 04/15/23 (Call 01/15/23) | USD | 66 | 69,142 | |||||||||
5.75%, 01/15/31 (Call 07/15/30)(a) | USD | 155 | 179,800 | |||||||||
Core & Main LP, 6.13%, 08/15/25 (Call 06/01/21)(a) | USD | 95 | 97,114 |
Security | Par (000) | Value | ||||||||||
United States (continued) | ||||||||||||
Coty Inc. | ||||||||||||
4.75%, 04/15/26 (Call 06/01/21)(c) | EUR | 100 | $ | 116,819 | ||||||||
5.00%, 04/15/26 (Call 04/15/23)(a) | USD | 78 | 78,928 | |||||||||
6.50%, 04/15/26 (Call 06/01/21)(a) | USD | 50 | 50,125 | |||||||||
Covanta Holding Corp. | ||||||||||||
5.00%, 09/01/30 (Call 09/01/25) | USD | 35 | 36,035 | |||||||||
5.88%, 07/01/25 (Call 06/01/21) | USD | 50 | 52,025 | |||||||||
6.00%, 01/01/27 (Call 01/01/22) | USD | 50 | 52,398 | |||||||||
Crestwood Midstream Partners LP/Crestwood Midstream Finance Corp. | ||||||||||||
5.63%, 05/01/27 (Call 05/01/22)(a) | USD | 75 | 76,499 | |||||||||
5.75%, 04/01/25 (Call 06/01/21) | USD | 65 | 66,689 | |||||||||
6.00%, 02/01/29 (Call 02/01/24)(a) | USD | 60 | 62,025 | |||||||||
Crown Americas LLC/Crown Americas Capital Corp. IV, 4.50%, 01/15/23 | USD | 125 | 132,172 | |||||||||
Crown Americas LLC/Crown Americas Capital Corp. V, 4.25%, 09/30/26 (Call 03/31/26)(b) | USD | 50 | 53,883 | |||||||||
Crown Americas LLC/Crown Americas Capital Corp. VI, 4.75%, 02/01/26 (Call 06/01/21)(b) | USD | 100 | 103,809 | |||||||||
Crown European Holdings SA | ||||||||||||
0.75%, 02/15/23 (Call 01/15/23)(c) | EUR | 100 | 120,850 | |||||||||
2.25%, 02/01/23 (Call 11/01/22)(c) | EUR | 100 | 123,613 | |||||||||
2.88%, 02/01/26 (Call 08/01/25)(c) | EUR | 100 | 128,830 | |||||||||
4.00%, 07/15/22 (Call 04/15/22)(c) | EUR | 100 | 124,703 | |||||||||
CrownRock LP/CrownRock Finance Inc. | ||||||||||||
5.00%, 05/01/29 (Call 05/01/24)(a) | USD | 35 | 35,831 | |||||||||
5.63%, 10/15/25 (Call 06/01/21)(a) | USD | 150 | 155,332 | |||||||||
CSC Holdings LLC | ||||||||||||
4.13%, 12/01/30 (Call 12/01/25)(a) | USD | 200 | 198,462 | |||||||||
4.63%, 12/01/30 (Call 12/01/25)(a) | USD | 200 | 195,737 | |||||||||
5.25%, 06/01/24 | USD | 250 | 271,077 | |||||||||
5.38%, 02/01/28 (Call 02/01/23)(a) | USD | 200 | 210,852 | |||||||||
5.50%, 05/15/26 (Call 05/15/21)(a) | USD | 200 | 205,750 | |||||||||
5.50%, 04/15/27 (Call 04/15/22)(a) | USD | 200 | 209,901 | |||||||||
5.75%, 01/15/30 (Call 01/15/25)(a) | USD | 200 | 212,929 | |||||||||
6.50%, 02/01/29 (Call 02/01/24)(a) | USD | 300 | 331,500 | |||||||||
7.50%, 04/01/28 (Call 04/01/23)(a) | USD | 200 | 220,542 | |||||||||
CVR Energy Inc. | ||||||||||||
5.25%, 02/15/25 (Call 02/15/22)(a)(b) | USD | 75 | 75,375 | |||||||||
5.75%, 02/15/28 (Call 02/15/23)(a)(b) | USD | 50 | 50,719 | |||||||||
Dana Financing Luxembourg Sarl, 5.75%, 04/15/25 (Call 05/31/21)(a) | USD | 50 | 51,642 | |||||||||
Dana Inc. | ||||||||||||
4.25%, 09/01/30 (Call 05/01/26) | USD | 15 | 15,150 | |||||||||
5.38%, 11/15/27 (Call 11/15/22) | USD | 15 | 15,967 | |||||||||
5.50%, 12/15/24 (Call 05/29/21)(b) | USD | 55 | 56,217 | |||||||||
5.63%, 06/15/28 (Call 06/15/23)(b) | USD | 85 | 91,933 | |||||||||
Darling Global Finance BV, 3.63%, 05/15/26 (Call 05/15/21)(c) | EUR | 100 | 122,437 | |||||||||
DaVita Inc. | ||||||||||||
3.75%, 02/15/31 (Call 02/15/26)(a) | USD | 155 | 147,250 | |||||||||
4.63%, 06/01/30 (Call 06/01/25)(a)(b) | USD | 315 | 318,937 | |||||||||
DCP Midstream Operating LP | ||||||||||||
3.88%, 03/15/23 (Call 12/15/22) | USD | 65 | 67,948 | |||||||||
5.13%, 05/15/29 (Call 02/15/29) | USD | 100 | 107,525 | |||||||||
5.38%, 07/15/25 (Call 04/15/25) | USD | 105 | 115,280 | |||||||||
5.63%, 07/15/27 (Call 04/15/27) | USD | 25 | 27,344 | |||||||||
5.85%, 05/21/43 (Call 05/21/23)(a)(e) | USD | 65 | 59,208 | |||||||||
Dell International LLC/EMC Corp., 7.13%, 06/15/24 (Call 05/17/21)(a) | USD | 205 | 210,554 |
50 | 2 0 2 1 I SHARES SEMI - ANNUAL REPORT TO SHAREHOLDERS |
Schedule of Investments (unaudited) (continued) April 30, 2021 | iShares® US & Intl High Yield Corp Bond ETF (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||||||
United States (continued) | ||||||||||||
Delta Air Lines Inc. | ||||||||||||
2.90%, 10/28/24 (Call 09/28/24)(b) | USD | 100 | $ | 100,826 | ||||||||
3.75%, 10/28/29 (Call 07/28/29)(b) | USD | 100 | 99,625 | |||||||||
3.80%, 04/19/23 (Call 03/19/23) | USD | 50 | 51,569 | |||||||||
4.38%, 04/19/28 (Call 01/19/28) | USD | 25 | 26,427 | |||||||||
7.38%, 01/15/26 (Call 12/15/25)(b) | USD | 175 | 205,233 | |||||||||
Diamond Resorts International Inc. | ||||||||||||
7.75%, 09/01/23 (Call 06/01/21)(a) | USD | 65 | 67,616 | |||||||||
10.75%, 09/01/24 (Call 06/01/21)(a) | USD | 75 | 79,406 | |||||||||
Diamond Sports Group LLC/Diamond Sports Finance Co. | ||||||||||||
5.38%, 08/15/26 (Call 08/15/22)(a) | USD | 330 | 240,900 | |||||||||
6.63%, 08/15/27 (Call 08/15/22)(a)(b) | USD | 200 | 108,000 | |||||||||
Diebold Nixdorf Inc. | ||||||||||||
8.50%, 04/15/24 (Call 06/01/21)(b) | USD | 50 | 51,195 | |||||||||
9.38%, 07/15/25 (Call 07/15/22)(a) | USD | 95 | 105,569 | |||||||||
DISH DBS Corp. | ||||||||||||
5.00%, 03/15/23 | USD | 190 | 198,682 | |||||||||
5.88%, 07/15/22 | USD | 225 | 235,682 | |||||||||
5.88%, 11/15/24 | USD | 225 | 243,462 | |||||||||
7.38%, 07/01/28 (Call 07/01/23) | USD | 80 | 86,399 | |||||||||
7.75%, 07/01/26(b) | USD | 250 | 288,125 | |||||||||
Diversified Healthcare Trust | ||||||||||||
4.38%, 03/01/31 (Call 09/01/30) | USD | 40 | 38,700 | |||||||||
4.75%, 02/15/28 (Call 08/15/27) | USD | 65 | 65,628 | |||||||||
9.75%, 06/15/25 (Call 06/15/22) | USD | 135 | 151,531 | |||||||||
DPL Inc. | ||||||||||||
4.13%, 07/01/25 (Call 04/01/25) | USD | 50 | 53,853 | |||||||||
4.35%, 04/15/29 (Call 01/15/29) | USD | 50 | 54,201 | |||||||||
Edgewell Personal Care Co. | ||||||||||||
4.13%, 04/01/29 (Call 04/01/24)(a) | USD | 70 | 69,691 | |||||||||
5.50%, 06/01/28 (Call 06/01/23)(a) | USD | 80 | 85,206 | |||||||||
Elanco Animal Health Inc. | ||||||||||||
5.27%, 08/28/23 (Call 07/28/23) | USD | 100 | 108,148 | |||||||||
5.90%, 08/28/28 (Call 05/28/28) | USD | 75 | 85,193 | |||||||||
EMC Corp., 3.38%, 06/01/23 (Call 03/01/23) | USD | 125 | 129,723 | |||||||||
Encompass Health Corp, 4.63%, 04/01/31 (Call 04/01/26) | USD | 40 | 42,500 | |||||||||
Encompass Health Corp. | ||||||||||||
4.50%, 02/01/28 (Call 02/01/23) | USD | 80 | 82,900 | |||||||||
4.75%, 02/01/30 (Call 02/01/25) | USD | 80 | 84,282 | |||||||||
Encore Capital Group Inc., 5.38%, 02/15/26 (Call 11/15/22)(c) | GBP | 100 | 144,462 | |||||||||
Endeavor Energy Resources LP/EER Finance Inc. | ||||||||||||
5.50%, 01/30/26 (Call 06/01/21)(a) | USD | 90 | 93,071 | |||||||||
5.75%, 01/30/28 (Call 01/30/23)(a) | USD | 125 | 133,437 | |||||||||
6.63%, 07/15/25 (Call 07/15/22)(a) | USD | 60 | 63,975 | |||||||||
Endo Dac/Endo Finance LLC/Endo Finco Inc. | ||||||||||||
6.00%, 06/30/28 (Call 06/30/23)(a) | USD | 91 | 69,552 | |||||||||
9.50%, 07/31/27 (Call 07/31/23)(a)(b) | USD | 122 | 129,320 | |||||||||
Endo Luxembourg Finance Co. I Sarl/Endo U.S. Inc., 6.13%, 04/01/29 | USD | 140 | 138,671 | |||||||||
Endure Digital Inc., 6.00%, 02/15/29 (Call 02/15/24)(a) | USD | 35 | 33,513 | |||||||||
Energizer Gamma Acquisition BV, 4.63%, 07/15/26 (Call 07/15/21)(c) | EUR | 100 | 123,391 | |||||||||
Energizer Holdings Inc. | ||||||||||||
4.38%, 03/31/29 (Call 09/30/23)(a) | USD | 55 | 54,742 | |||||||||
4.75%, 06/15/28 (Call 06/15/23)(a) | USD | 75 | 76,688 | |||||||||
EnLink Midstream Partners LP | ||||||||||||
4.15%, 06/01/25 (Call 03/01/25) | USD | 90 | 91,013 | |||||||||
4.40%, 04/01/24 (Call 01/01/24) | USD | 50 | 51,378 | |||||||||
4.85%, 07/15/26 (Call 04/15/26) | USD | 65 | 65,582 |
Security | Par (000) | Value | ||||||||||
United States (continued) | ||||||||||||
EPR Properties | ||||||||||||
3.75%, 08/15/29 (Call 05/15/29) | USD | 50 | $ | 48,677 | ||||||||
4.75%, 12/15/26 (Call 09/15/26) | USD | 50 | 52,612 | |||||||||
4.95%, 04/15/28 (Call 01/15/28) | USD | 50 | 52,136 | |||||||||
EQM Midstream Partners LP | ||||||||||||
4.00%, 08/01/24 (Call 05/01/24) | USD | 100 | 102,375 | |||||||||
4.13%, 12/01/26 (Call 09/01/26) | USD | 50 | 50,479 | |||||||||
4.50%, 01/15/29 (Call 07/15/28)(a) | USD | 70 | 69,604 | |||||||||
4.75%, 07/15/23 (Call 06/15/23) | USD | 125 | 130,919 | |||||||||
4.75%, 01/15/31 (Call 07/15/30)(a) | USD | 100 | 99,000 | |||||||||
5.50%, 07/15/28 (Call 04/15/28) | USD | 100 | 106,220 | |||||||||
6.00%, 07/01/25 (Call 04/01/25)(a) | USD | 85 | 92,805 | |||||||||
6.50%, 07/01/27 (Call 01/01/27)(a) | USD | 125 | 138,132 | |||||||||
EQT Corp. | ||||||||||||
3.90%, 10/01/27 (Call 07/01/27) | USD | 175 | 182,448 | |||||||||
7.63%, 02/01/25 (Call 01/01/25) | USD | 150 | 172,594 | |||||||||
8.50%, 02/01/30 (Call 11/01/29) | USD | 100 | 127,875 | |||||||||
ESH Hospitality Inc. | ||||||||||||
4.63%, 10/01/27 (Call 10/01/22)(a) | USD | 95 | 100,700 | |||||||||
5.25%, 05/01/25 (Call 06/01/21)(a) | USD | 140 | 142,842 | |||||||||
Exela Intermediate LLC/Exela Finance Inc., 10.00%, 07/15/23 (Call 06/01/21)(a) | USD | 125 | 45,313 | |||||||||
Ferrellgas LP/Ferrellgas Finance Corp. | ||||||||||||
5.38%, 04/01/26 (Call 04/01/23)(a) | USD | 65 | 64,610 | |||||||||
5.88%, 04/01/29 (Call 04/01/24)(a) | USD | 85 | 84,045 | |||||||||
Fifth Third Bancorp., Series H, 5.10%, (Call 06/30/23)(b)(d)(e) | USD | 100 | 103,125 | |||||||||
FirstEnergy Corp. | ||||||||||||
2.65%, 03/01/30 (Call 12/01/29) | USD | 75 | 73,368 | |||||||||
Series B, 2.25%, 09/01/30 (Call 06/01/30) | USD | 50 | 47,229 | |||||||||
Series B, 4.40%, 07/15/27 (Call 04/15/27) | USD | 175 | 191,625 | |||||||||
FirstEnergy Transmission LLC, 2.87%, 09/15/28 (Call 07/15/28)(a) | USD | 75 | 77,080 | |||||||||
Flex Acquisition Co. Inc. | ||||||||||||
6.88%, 01/15/25 (Call 06/01/21)(a) | USD | 80 | 81,300 | |||||||||
7.88%, 07/15/26 (Call 07/15/21)(a)(b) | USD | 65 | 68,046 | |||||||||
Fluor Corp. | ||||||||||||
1.75%, 03/21/23 (Call 12/21/22) | EUR | 100 | 120,178 | |||||||||
3.50%, 12/15/24 (Call 09/15/24)(b) | USD | 50 | 51,624 | |||||||||
4.25%, 09/15/28 (Call 06/15/28)(b) | USD | 75 | 77,516 | |||||||||
Ford Credit Canada Co. | ||||||||||||
3.74%, 05/08/23 | CAD | 100 | 83,137 | |||||||||
4.46%, 11/13/24 | CAD | 50 | 42,546 | |||||||||
Ford Motor Co. | ||||||||||||
4.35%, 12/08/26 (Call 09/08/26) | USD | 200 | 212,676 | |||||||||
8.50%, 04/21/23 | USD | 345 | 386,400 | |||||||||
9.00%, 04/22/25 (Call 03/22/25) | USD | 630 | 770,175 | |||||||||
9.63%, 04/22/30 (Call 01/22/30) | USD | 125 | 175,435 | |||||||||
Ford Motor Credit Co. LLC | ||||||||||||
1.51%, 02/17/23 | EUR | 200 | 242,987 | |||||||||
1.74%, 07/19/24 | EUR | 100 | 121,534 | |||||||||
2.33%, 11/25/25 | EUR | 100 | 124,124 | |||||||||
2.39%, 02/17/26 | EUR | 100 | 124,099 | |||||||||
2.75%, 06/14/24 | GBP | 100 | 139,651 | |||||||||
3.25%, 09/15/25 | EUR | 100 | 128,565 | |||||||||
3.35%, 11/01/22 | USD | 200 | 204,752 | |||||||||
3.37%, 11/17/23 | USD | 200 | 206,636 | |||||||||
3.38%, 11/13/25 (Call 10/13/25) | USD | 200 | 205,000 | |||||||||
3.81%, 01/09/24 (Call 11/09/23) | USD | 200 | 207,500 | |||||||||
4.06%, 11/01/24 (Call 10/01/24) | USD | 200 | 210,610 |
SCHEDULE OF INVESTMENTS | 51 |
Schedule of Investments (unaudited) (continued) April 30, 2021 | iShares® US & Intl High Yield Corp Bond ETF (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||||||
United States (continued) | ||||||||||||
4.27%, 01/09/27 (Call 11/09/26) | USD | 200 | $ | 210,405 | ||||||||
4.38%, 08/06/23 | USD | 400 | 422,088 | |||||||||
4.39%, 01/08/26 | USD | 200 | 213,500 | |||||||||
4.54%, 03/06/25 | GBP | 100 | 147,655 | |||||||||
5.11%, 05/03/29 (Call 02/03/29) | USD | 200 | 218,440 | |||||||||
5.13%, 06/16/25 (Call 05/16/25)(b) | USD | 415 | 453,346 | |||||||||
Fortress Transportation & Infrastructure Investors LLC | ||||||||||||
6.50%, 10/01/25 (Call 10/01/21)(a) | USD | 85 | 88,488 | |||||||||
9.75%, 08/01/27 (Call 08/01/23)(a) | USD | 40 | 46,336 | |||||||||
Fortress Transportation and Infrastructure Investors LLC, 5.50%, 05/01/28 (Call 05/01/24)(a) | USD | 10 | 10,394 | |||||||||
Freedom Mortgage Corp. | ||||||||||||
7.63%, 05/01/26 (Call 05/01/23)(a) | USD | 45 | 46,913 | |||||||||
8.13%, 11/15/24 (Call 06/01/21)(a) | USD | 80 | 82,830 | |||||||||
8.25%, 04/15/25 (Call 06/01/21)(a) | USD | 90 | 93,317 | |||||||||
Freeport-McMoRan Inc. | ||||||||||||
3.88%, 03/15/23 (Call 12/15/22) | USD | 115 | 120,148 | |||||||||
4.13%, 03/01/28 (Call 03/01/23) | USD | 75 | 79,070 | |||||||||
4.25%, 03/01/30 (Call 03/01/25) | USD | 75 | 80,696 | |||||||||
4.38%, 08/01/28 (Call 08/01/23) | USD | 20 | 21,325 | |||||||||
4.55%, 11/14/24 (Call 08/14/24) | USD | 105 | 114,712 | |||||||||
4.63%, 08/01/30 (Call 08/01/25)(b) | USD | 115 | 126,931 | |||||||||
5.00%, 09/01/27 (Call 09/01/22)(b) | USD | 80 | 84,990 | |||||||||
5.25%, 09/01/29 (Call 09/01/24) | USD | 85 | 94,257 | |||||||||
Frontier Communications Corp. | ||||||||||||
5.00%, 05/01/28 (Call 05/01/24)(a)(b) | USD | 190 | 194,856 | |||||||||
5.88%, 10/15/27 (Call 10/15/23)(a) | USD | 10 | 10,625 | |||||||||
6.75%, 05/01/29 (Call 05/01/24)(a) | USD | 135 | 142,087 | |||||||||
FXI Holdings Inc. | ||||||||||||
7.88%, 11/01/24 (Call 06/01/21)(a) | USD | 64 | 66,300 | |||||||||
12.25%, 11/15/26 (Call 11/15/22)(a) | USD | 99 | 114,701 | |||||||||
Gap Inc. (The) | ||||||||||||
8.38%, 05/15/23(a) | USD | 35 | 39,856 | |||||||||
8.63%, 05/15/25 (Call 05/15/22)(a) | USD | 90 | 99,715 | |||||||||
8.88%, 05/15/27 (Call 05/15/23)(a) | USD | 125 | 146,250 | |||||||||
Gartner Inc. | ||||||||||||
3.75%, 10/01/30 (Call 10/01/25)(a) | USD | 80 | 80,200 | |||||||||
4.50%, 07/01/28 (Call 07/01/23)(a) | USD | 175 | 183,969 | |||||||||
Genesis Energy LP/Genesis Energy Finance Corp. | ||||||||||||
6.25%, 05/15/26 (Call 06/01/21) | USD | 50 | 49,063 | |||||||||
6.50%, 10/01/25 (Call 06/01/21) | USD | 70 | 70,557 | |||||||||
7.75%, 02/01/28 (Call 02/01/23) | USD | 95 | 95,970 | |||||||||
8.00%, 01/15/27 (Call 10/15/24) | USD | 45 | 46,360 | |||||||||
Genworth Mortgage Holdings Inc., 6.50%, 08/15/25 (Call 02/15/25)(a) | USD | 80 | 86,873 | |||||||||
Go Daddy Operating Co. LLC/GD Finance Co. Inc., 3.50%, 03/01/29 (Call 03/01/24)(a) | USD | 100 | 97,382 | |||||||||
Golden Nugget Inc. | ||||||||||||
6.75%, 10/15/24 (Call 06/01/21)(a) | USD | 165 | 167,214 | |||||||||
8.75%, 10/01/25 (Call 06/01/21)(a)(b) | USD | 85 | 89,412 | |||||||||
Goodyear Tire & Rubber Co. (The) | ||||||||||||
4.88%, 03/15/27 (Call 12/15/26)(b) | USD | 90 | 93,713 | |||||||||
5.00%, 05/31/26 (Call 06/01/21) | USD | 115 | 117,987 | |||||||||
5.13%, 11/15/23 (Call 05/06/21) | USD | 75 | 75,068 | |||||||||
5.25%, 04/30/31 (Call 01/30/31) | USD | 50 | 50,385 | |||||||||
5.63%, 04/30/33 (Call 01/30/33) | USD | 50 | 50,063 | |||||||||
9.50%, 05/31/25 (Call 05/31/22) | USD | 105 | 118,387 | |||||||||
Graphic Packaging International LLC, 3.50%, 03/15/28(a) | USD | 100 | 99,500 | |||||||||
Gray Television Inc. 4.75%, 10/15/30 (Call 10/15/25)(a) | USD | 100 | 99,938 |
Security | Par (000) | Value | ||||||||||
United States (continued) | ||||||||||||
5.88%, 07/15/26 (Call 07/15/21)(a) | USD | 115 | $ | 119,312 | ||||||||
7.00%, 05/15/27 (Call 05/15/22)(a)(b) | USD | 90 | 98,344 | |||||||||
Griffon Corp., 5.75%, 03/01/28 (Call 03/01/23) | USD | 130 | 138,775 | |||||||||
H&E Equipment Services Inc., 3.88%, 12/15/28 (Call 12/15/23)(a) | USD | 100 | 98,180 | |||||||||
Hanesbrands Finance Luxembourg SCA, 3.50%, 06/15/24 (Call 03/15/24)(c) | EUR | 100 | 127,783 | |||||||||
Hanesbrands Inc. | ||||||||||||
4.63%, 05/15/24 (Call 02/15/24)(a) | USD | 115 | 121,148 | |||||||||
4.88%, 05/15/26 (Call 02/15/26)(a)(b) | USD | 115 | 123,293 | |||||||||
5.38%, 05/15/25 (Call 05/15/22)(a) | USD | 30 | 31,562 | |||||||||
Hawaiian Brand Intellectual Property Ltd./HawaiianMiles Loyalty Ltd., 5.75%, 01/20/26 (Call 01/20/24)(a) | USD | 125 | 132,031 | |||||||||
HCA Inc. | ||||||||||||
3.50%, 09/01/30 (Call 03/01/30) | USD | 315 | 323,671 | |||||||||
5.38%, 02/01/25 | USD | 275 | 306,295 | |||||||||
5.38%, 09/01/26 (Call 03/01/26) | USD | 125 | 141,842 | |||||||||
5.63%, 09/01/28 (Call 03/01/28) | USD | 215 | 250,844 | |||||||||
5.88%, 05/01/23 | USD | 100 | 109,133 | |||||||||
5.88%, 02/15/26 (Call 08/15/25) | USD | 165 | 189,544 | |||||||||
5.88%, 02/01/29 (Call 08/01/28) | USD | 125 | 147,500 | |||||||||
Herbalife Nutrition Ltd./HLF Financing Inc., 7.88%, 09/01/25 (Call 09/01/22)(a) | USD | 155 | 168,537 | |||||||||
Herc Holdings Inc., 5.50%, 07/15/27 (Call 07/15/22)(a) | USD | 150 | 158,625 | |||||||||
Hess Midstream Operations LP | ||||||||||||
5.13%, 06/15/28 (Call 06/15/23)(a) | USD | 70 | 72,495 | |||||||||
5.63%, 02/15/26 (Call 06/01/21)(a) | USD | 100 | 103,875 | |||||||||
Hilcorp Energy I LP/Hilcorp Finance Co. 5.75%, 10/01/25 (Call 06/01/21)(a) | USD | 65 | 66,159 | |||||||||
5.75%, 02/01/29 (Call 02/01/24)(a) | USD | 45 | 45,982 | |||||||||
6.00%, 02/01/31 (Call 02/01/26)(a) | USD | 70 | 72,751 | |||||||||
6.25%, 11/01/28 (Call 11/01/23)(a) | USD | 75 | 78,035 | |||||||||
Hilton Domestic Operating Co. Inc. | ||||||||||||
3.63%, 02/15/32 (Call 08/15/26)(a) | USD | 155 | 152,863 | |||||||||
3.75%, 05/01/29 (Call 05/01/24)(a) | USD | 50 | 50,334 | |||||||||
4.00%, 05/01/31 (Call 05/01/26)(a) | USD | 125 | 126,538 | |||||||||
4.88%, 01/15/30 (Call 01/15/25) | USD | 180 | 191,997 | |||||||||
5.38%, 05/01/25 (Call 05/01/22)(a) | USD | 10 | 10,516 | |||||||||
5.75%, 05/01/28 (Call 05/01/23)(a) | USD | 65 | 70,029 | |||||||||
Hilton Worldwide Finance LLC/Hilton Worldwide Finance Corp., 4.88%, 04/01/27 (Call 04/01/22) | USD | 75 | 78,075 | |||||||||
Hologic Inc. | ||||||||||||
3.25%, 02/15/29 (Call 09/28/23)(a) | USD | 75 | 73,688 | |||||||||
4.63%, 02/01/28 (Call 02/01/23)(a) | USD | 50 | 52,990 | |||||||||
Howard Hughes Corp. (The) | ||||||||||||
4.13%, 02/01/29 (Call 02/01/24)(a) | USD | 65 | 64,350 | |||||||||
4.38%, 02/01/31 (Call 02/01/26)(a) | USD | 90 | 89,209 | |||||||||
5.38%, 08/01/28 (Call 08/01/23)(a) | USD | 90 | 95,175 | |||||||||
Howmet Aerospace Inc. | ||||||||||||
5.13%, 10/01/24 (Call 07/01/24) | USD | 155 | 169,531 | |||||||||
6.88%, 05/01/25 (Call 04/01/25) | USD | 130 | 150,800 | |||||||||
HUB International Ltd., 7.00%, 05/01/26 (Call 06/01/21)(a) | USD | 175 | 181,600 | |||||||||
Hughes Satellite Systems Corp. | ||||||||||||
5.25%, 08/01/26 | USD | 95 | 104,500 | |||||||||
6.63%, 08/01/26(b) | USD | 100 | 111,045 | |||||||||
Icahn Enterprises LP/Icahn Enterprises Finance Corp. | ||||||||||||
4.38%, 02/01/29 (Call 08/01/28)(a) | USD | 60 | 58,275 | |||||||||
4.75%, 09/15/24 (Call 06/15/24)(b) | USD | 125 | 131,330 | |||||||||
5.25%, 05/15/27 (Call 11/15/26)(a) | USD | 45 | 46,001 | |||||||||
5.25%, 05/15/27 (Call 11/15/26)(b) | USD | 122 | 124,714 | |||||||||
6.25%, 05/15/26 (Call 05/15/22) | USD | 130 | 137,323 |
52 | 2 0 2 1 I SHARES SEMI - ANNUAL REPORT TO SHAREHOLDERS |
Schedule of Investments (unaudited) (continued) April 30, 2021 | iShares® US & Intl High Yield Corp Bond ETF (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||||||
United States (continued) | ||||||||||||
6.38%, 12/15/25 (Call 06/01/21) | USD | 95 | $ | 98,097 | ||||||||
6.75%, 02/01/24 (Call 06/01/21) | USD | 65 | 66,471 | |||||||||
iHeartCommunications Inc. | ||||||||||||
4.75%, 01/15/28 (Call 01/15/23)(a)(b) | USD | 65 | 66,288 | |||||||||
5.25%, 08/15/27 (Call 08/15/22)(a) | USD | 95 | 98,325 | |||||||||
6.38%, 05/01/26 (Call 05/01/22) | USD | 100 | 106,500 | |||||||||
8.38%, 05/01/27 (Call 05/01/22)(b) | USD | 130 | 139,455 | |||||||||
Imola Merger Corp., 4.75%, 05/15/29 (Call 05/15/24)(a) | USD | 190 | 197,353 | |||||||||
International Game Technology PLC | ||||||||||||
2.38%, 04/15/28 (Call 04/15/23)(c) | EUR | 100 | 116,931 | |||||||||
3.50%, 06/15/26 (Call 06/15/22)(c) | EUR | 150 | 184,992 | |||||||||
4.75%, 02/15/23 (Call 08/15/22)(c) | EUR | 100 | 125,572 | |||||||||
6.25%, 01/15/27 (Call 07/15/26)(a) | USD | 100 | 112,469 | |||||||||
6.50%, 02/15/25 (Call 08/15/24)(a) | USD | 200 | 221,500 | |||||||||
Intrado Corp., 8.50%, 10/15/25 (Call 06/01/21)(a) | USD | 145 | 147,356 | |||||||||
IQVIA Inc. | ||||||||||||
1.75%, 03/15/26 (Call 03/15/23)(c) | EUR | 100 | 121,454 | |||||||||
2.25%, 01/15/28 (Call 07/15/22)(c) | EUR | 100 | 121,559 | |||||||||
2.25%, 03/15/29 (Call 03/15/24)(c) | EUR | 100 | 120,803 | |||||||||
2.88%, 06/15/28 (Call 06/15/23)(c) | EUR | 100 | 124,489 | |||||||||
5.00%, 05/15/27 (Call 05/15/22)(a)(b) | USD | 200 | 209,565 | |||||||||
IRB Holding Corp. | ||||||||||||
6.75%, 02/15/26 (Call 06/01/21)(a) | USD | 50 | 51,800 | |||||||||
7.00%, 06/15/25 (Call 06/15/22)(a) | USD | 100 | 107,538 | |||||||||
Iron Mountain Inc. | ||||||||||||
4.50%, 02/15/31 (Call 02/15/26)(a)(b) | USD | 60 | 59,850 | |||||||||
4.88%, 09/15/27 (Call 09/15/22)(a)(b) | USD | 125 | 130,000 | |||||||||
4.88%, 09/15/29 (Call 09/15/24)(a) | USD | 125 | 127,500 | |||||||||
5.00%, 07/15/28 (Call 07/15/23)(a) | USD | 80 | 82,800 | |||||||||
5.25%, 03/15/28 (Call 12/27/22)(a) | USD | 105 | 110,048 | |||||||||
5.25%, 07/15/30 (Call 07/15/25)(a) | USD | 165 | 171,394 | |||||||||
5.63%, 07/15/32 (Call 07/15/26)(a) | USD | 75 | 79,330 | |||||||||
Iron Mountain UK PLC, 3.88%, 11/15/25 (Call 05/10/21)(c) | GBP | 100 | 140,381 | |||||||||
iStar Inc. | ||||||||||||
4.25%, 08/01/25 (Call 05/01/25) | USD | 70 | 71,138 | |||||||||
4.75%, 10/01/24 (Call 07/01/24) | USD | 100 | 104,811 | |||||||||
5.50%, 02/15/26 (Call 08/15/22) | USD | 50 | 51,899 | |||||||||
Jaguar Holding Co. II/PPD Development LP | ||||||||||||
4.63%, 06/15/25 (Call 06/15/22)(a)(b) | USD | 20 | 21,049 | |||||||||
5.00%, 06/15/28 (Call 06/15/23)(a) | USD | 100 | 109,175 | |||||||||
Jeld-Wen Inc. | ||||||||||||
4.63%, 12/15/25 (Call 06/01/21)(a) | USD | 50 | 51,068 | |||||||||
4.88%, 12/15/27 (Call 12/15/22)(a) | USD | 50 | 52,250 | |||||||||
Kennedy-Wilson Inc. | ||||||||||||
4.75%, 03/01/29 (Call 03/01/24) | USD | 55 | 56,856 | |||||||||
5.00%, 03/01/31 (Call 03/01/26) | USD | 61 | 63,062 | |||||||||
KFC Holding Co./Pizza Hut Holdings LLC/Taco Bell of America LLC | ||||||||||||
4.75%, 06/01/27 (Call 06/01/22)(a) | USD | 100 | 105,153 | |||||||||
5.25%, 06/01/26 (Call 06/01/21)(a) | USD | 80 | 82,345 | |||||||||
Kraft Heinz Foods Co. | ||||||||||||
2.00%, 06/30/23 (Call 03/30/23)(c) | EUR | 100 | 124,705 | |||||||||
2.25%, 05/25/28 (Call 02/25/28)(c) | EUR | 150 | 195,402 | |||||||||
3.00%, 06/01/26 (Call 03/01/26) | USD | 241 | 254,749 | |||||||||
3.75%, 04/01/30 (Call 01/01/30) | USD | 150 | 159,937 | |||||||||
3.88%, 05/15/27 (Call 02/15/27) | USD | 155 | 168,539 | |||||||||
3.95%, 07/15/25 (Call 04/15/25) | USD | 175 | 193,554 | |||||||||
4.25%, 03/01/31 (Call 12/01/30) | USD | 165 | 181,789 | |||||||||
4.63%, 01/30/29 (Call 10/30/28) | USD | 150 | 169,125 |
Security | Par (000) | Value | ||||||||||
United States (continued) | ||||||||||||
L Brands Inc. | ||||||||||||
5.25%, 02/01/28 | USD | 115 | $ | 125,695 | ||||||||
6.63%, 10/01/30 (Call 10/01/25)(a) | USD | 110 | 126,500 | |||||||||
7.50%, 06/15/29 (Call 06/15/24) | USD | 65 | 75,412 | |||||||||
9.38%, 07/01/25(a) | USD | 10 | 12,686 | |||||||||
LABL Escrow Issuer LLC | ||||||||||||
6.75%, 07/15/26 (Call 07/15/22)(a) | USD | 90 | 96,975 | |||||||||
10.50%, 07/15/27 (Call 07/15/22)(a)(b) | USD | 85 | 93,891 | |||||||||
Ladder Capital Finance Holdings LLLP/Ladder Capital Finance Corp. | ||||||||||||
4.25%, 02/01/27 (Call 02/01/23)(a) | USD | 110 | 107,721 | |||||||||
5.25%, 10/01/25 (Call 05/17/21)(a) | USD | 4 | 4,057 | |||||||||
Lamar Media Corp. | ||||||||||||
3.63%, 01/15/31 (Call 01/15/26)(a) | USD | 45 | 43,864 | |||||||||
3.75%, 02/15/28 (Call 02/15/23) | USD | 75 | 75,665 | |||||||||
4.00%, 02/15/30 (Call 02/15/25) | USD | 60 | 60,600 | |||||||||
4.88%, 01/15/29 (Call 01/15/24) | USD | 115 | 121,403 | |||||||||
Lamb Weston Holdings Inc. | ||||||||||||
4.63%, 11/01/24 (Call 11/01/21)(a)(b) | USD | 100 | 103,780 | |||||||||
4.88%, 11/01/26 (Call 11/01/21)(a) | USD | 100 | 103,797 | |||||||||
4.88%, 05/15/28 (Call 11/15/27)(a)(b) | USD | 60 | 66,160 | |||||||||
LCPR Senior Secured Financing DAC, 6.75%, 10/15/27 (Call 10/15/22)(a) | USD | 200 | 215,000 | |||||||||
LD Holdings Group LLC, 6.13%, 04/01/28 (Call 04/01/24)(a) | USD | 65 | 65,240 | |||||||||
Legacy LifePoint Health LLC | ||||||||||||
4.38%, 02/15/27 (Call 02/15/22)(a) | USD | 135 | 135,436 | |||||||||
6.75%, 04/15/25 (Call 04/15/22)(a) | USD | 35 | 37,353 | |||||||||
Level 3 Financing Inc. | ||||||||||||
3.63%, 01/15/29 (Call 01/15/24)(a) | USD | 105 | 101,456 | |||||||||
3.75%, 07/15/29 (Call 01/15/24)(a) | USD | 115 | 112,125 | |||||||||
4.25%, 07/01/28 (Call 07/01/23)(a) | USD | 125 | 126,029 | |||||||||
4.63%, 09/15/27 (Call 09/15/22)(a) | USD | 125 | 128,906 | |||||||||
5.25%, 03/15/26 (Call 06/01/21) | USD | 100 | 102,990 | |||||||||
5.38%, 05/01/25 (Call 06/01/21) | USD | 75 | 76,650 | |||||||||
Levi Strauss & Co. | ||||||||||||
3.38%, 03/15/27 (Call 03/15/22) | EUR | 100 | 124,409 | |||||||||
5.00%, 05/01/25 (Call 06/01/21)(b) | USD | 45 | 45,956 | |||||||||
Liberty Mutual Group Inc., 3.63%, 05/23/59 (Call 05/23/24)(c)(e) | EUR | 100 | 123,262 | |||||||||
Life Time Inc. | ||||||||||||
5.75%, 01/15/26 (Call 01/15/23)(a) | USD | 93 | 96,375 | |||||||||
8.00%, 04/15/26 (Call 02/01/23)(a) | USD | 70 | 73,765 | |||||||||
Lifepoint Health Inc., 5.38%, 01/15/29 (Call 01/15/24)(a)(b) . | USD | 45 | 45,009 | |||||||||
Lions Gate Capital Holdings LLC, 5.50%, 04/15/29 (Call 04/15/24)(a) | USD | 88 | 88,220 | |||||||||
Lithia Motors Inc., 4.38%, 01/15/31 (Call 10/15/25)(a) | USD | 65 | 68,667 | |||||||||
Live Nation Entertainment Inc. | ||||||||||||
3.75%, 01/15/28 (Call 01/15/24)(a) | USD | 20 | 19,923 | |||||||||
4.75%, 10/15/27 (Call 10/15/22)(a)(b) | USD | 175 | 176,667 | |||||||||
6.50%, 05/15/27 (Call 05/15/23)(a) | USD | 160 | 177,677 | |||||||||
LKQ European Holdings BV, 4.13%, 04/01/28 (Call 04/01/23)(c) | EUR | 100 | 129,208 | |||||||||
Lkq Italia Bondco Di Lkq Italia Bondco Gp SRL E C SAPA, 3.88%, 04/01/24 (Call 01/01/24)(c) | EUR | 100 | 129,782 | |||||||||
LPL Holdings Inc. | ||||||||||||
4.00%, 03/15/29 (Call 03/15/24)(a) | USD | 110 | 110,256 | |||||||||
4.63%, 11/15/27 (Call 11/15/22)(a) | USD | 50 | 52,286 | |||||||||
Lumen Technologies Inc. | ||||||||||||
4.00%, 02/15/27 (Call 02/15/23)(a) | USD | 130 | 132,372 | |||||||||
4.50%, 01/15/29 (Call 01/15/24)(a)(b) | USD | 85 | 83,745 |
SCHEDULE OF INVESTMENTS | 53 |
Schedule of Investments (unaudited) (continued) April 30, 2021 | iShares® US & Intl High Yield Corp Bond ETF (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||||||
United States (continued) | ||||||||||||
5.13%, 12/15/26 (Call 12/15/22)(a)(b) | USD | 155 | $ | 162,556 | ||||||||
5.63%, 04/01/25 (Call 01/01/25) | USD | 65 | 70,200 | |||||||||
Series W, 6.75%, 12/01/23(b) | USD | 75 | 82,984 | |||||||||
Series Y, 7.50%, 04/01/24 (Call 01/01/24)(b) | USD | 125 | 139,762 | |||||||||
Macy’s Inc., 8.38%, 06/15/25 (Call 06/15/22)(a) | USD | 175 | 193,065 | |||||||||
Macy’s Retail Holdings LLC | ||||||||||||
3.63%, 06/01/24 (Call 03/01/24) | USD | 24 | 24,270 | |||||||||
5.88%, 04/01/29 (Call 04/01/24)(a) | USD | 60 | 61,575 | |||||||||
Magic Mergeco Inc. | ||||||||||||
5.25%, 05/01/28 (Call 11/01/23)(a) | USD | 88 | 89,210 | |||||||||
7.88%, 05/01/29 (Call 05/01/24)(a) | USD | 115 | 118,162 | |||||||||
Marriott Ownership Resorts Inc., 6.13%, 09/15/25 (Call 05/15/22)(a) | USD | 15 | 15,919 | |||||||||
Marriott Ownership Resorts Inc./ILG LLC, 6.50%, 09/15/26 (Call 09/15/21)(b) | USD | 100 | 104,500 | |||||||||
Matador Resources Co., 5.88%, 09/15/26 (Call 09/15/21) | USD | 130 | 129,837 | |||||||||
Match Group Holdings II LLC | ||||||||||||
4.13%, 08/01/30 (Call 05/01/25)(a) | USD | 115 | 115,431 | |||||||||
4.63%, 06/01/28 (Call 06/01/23)(a) | USD | 10 | 10,325 | |||||||||
5.00%, 12/15/27 (Call 12/15/22)(a) | USD | 75 | 78,959 | |||||||||
Mattel Inc. | ||||||||||||
3.38%, 04/01/26 (Call 04/01/23)(a) | USD | 40 | 41,409 | |||||||||
3.75%, 04/01/29 (Call 04/01/24)(a) | USD | 65 | 66,531 | |||||||||
5.88%, 12/15/27 (Call 12/15/22)(a) | USD | 110 | 120,871 | |||||||||
6.75%, 12/31/25 (Call 05/11/21)(a) | USD | 37 | 38,896 | |||||||||
Mauser Packaging Solutions Holding Co. | ||||||||||||
4.75%, 04/15/24 (Call 06/01/21)(c) | EUR | 100 | 120,606 | |||||||||
5.50%, 04/15/24 (Call 06/01/21)(a)(b) | USD | 185 | 185,694 | |||||||||
7.25%, 04/15/25 (Call 06/01/21)(a)(b) | USD | 170 | 165,530 | |||||||||
MEDNAX Inc., 6.25%, 01/15/27 | USD | 125 | 132,834 | |||||||||
Meredith Corp., 6.88%, 02/01/26 (Call 06/01/21)(b) | USD | 122 | 125,202 | |||||||||
Meritage Homes Corp. | ||||||||||||
3.88%, 04/15/29 (Call 10/15/28)(a) | USD | 40 | 41,120 | |||||||||
6.00%, 06/01/25 (Call 03/01/25) | USD | 50 | 56,841 | |||||||||
MGM Growth Properties Operating Partnership LP/MGP Finance Co-Issuer Inc. | ||||||||||||
3.88%, 02/15/29 (Call 11/15/28)(a) | USD | 40 | 40,550 | |||||||||
4.50%, 09/01/26 (Call 06/01/26) | USD | 65 | 68,903 | |||||||||
4.63%, 06/15/25 (Call 03/15/25)(a) | USD | 145 | 154,632 | |||||||||
5.63%, 05/01/24 (Call 02/01/24) | USD | 130 | 140,006 | |||||||||
5.75%, 02/01/27 (Call 11/01/26)(b) | USD | 95 | 106,104 | |||||||||
MGM Resorts International | ||||||||||||
4.63%, 09/01/26 (Call 06/01/26) | USD | 62 | 65,317 | |||||||||
4.75%, 10/15/28 (Call 07/15/28) | USD | 90 | 94,950 | |||||||||
5.50%, 04/15/27 (Call 01/15/27) | USD | 111 | 121,267 | |||||||||
5.75%, 06/15/25 (Call 03/15/25) | USD | 165 | 181,706 | |||||||||
6.00%, 03/15/23 | USD | 155 | 165,906 | |||||||||
6.75%, 05/01/25 (Call 05/01/22) | USD | 50 | 53,625 | |||||||||
Microchip Technology Inc., 4.25%, 09/01/25 (Call 09/01/22)(a) | USD | 155 | 162,651 | |||||||||
Mohegan Gaming & Entertainment, 8.00%, 02/01/26 (Call 02/01/23)(a) | USD | 135 | 137,025 | |||||||||
Molina Healthcare Inc. | ||||||||||||
3.88%, 11/15/30 (Call 08/17/30)(a) | USD | 65 | 67,031 | |||||||||
4.38%, 06/15/28 (Call 06/15/23)(a)(b) | USD | 80 | 82,544 | |||||||||
5.38%, 11/15/22 (Call 08/15/22) | USD | 90 | 94,681 | |||||||||
Moss Creek Resources Holdings Inc. | ||||||||||||
7.50%, 01/15/26 (Call 06/01/21)(a) | USD | 90 | 80,366 | |||||||||
10.50%, 05/15/27 (Call 05/15/22)(a) | USD | 65 | 61,360 | |||||||||
MPH Acquisition Holdings LLC, 5.75%, 11/01/28 (Call 11/01/23)(a)(b) | USD | 155 | 153,062 |
Security | Par (000) | Value | ||||||||||
United States (continued) | ||||||||||||
MPT Operating Partnership LP/MPT Finance Corp. | ||||||||||||
3.38%, 04/24/30 (Call 01/24/30) | GBP | 125 | $ | 175,820 | ||||||||
3.50%, 03/15/31 (Call 03/15/26) | USD | 85 | 84,851 | |||||||||
3.69%, 06/05/28 (Call 04/06/28) | GBP | 100 | 145,759 | |||||||||
4.00%, 08/19/22 (Call 05/19/22) | EUR | 100 | 125,253 | |||||||||
4.63%, 08/01/29 (Call 08/01/24) | USD | 90 | 95,288 | |||||||||
5.00%, 10/15/27 (Call 10/15/22) | USD | 175 | 184,187 | |||||||||
5.25%, 08/01/26 (Call 08/01/21) | USD | 65 | 67,031 | |||||||||
MSCI Inc. | ||||||||||||
3.63%, 09/01/30 (Call 03/01/25)(a) | USD | 60 | 61,125 | |||||||||
3.88%, 02/15/31 (Call 06/01/25)(a) | USD | 150 | 153,937 | |||||||||
4.00%, 11/15/29 (Call 11/15/24)(a) | USD | 100 | 104,804 | |||||||||
5.38%, 05/15/27 (Call 05/15/22)(a)(b) | USD | 65 | 69,488 | |||||||||
Murphy Oil Corp. | ||||||||||||
5.75%, 08/15/25 (Call 06/01/21) | USD | 75 | 76,428 | |||||||||
5.88%, 12/01/27 (Call 12/01/22) | USD | 55 | 55,275 | |||||||||
6.38%, 07/15/28 (Call 07/15/24) | USD | 50 | 50,726 | |||||||||
6.88%, 08/15/24 (Call 06/01/21)(b) | USD | 50 | 51,410 | |||||||||
Murphy Oil USA Inc., 3.75%, 02/15/31 (Call 02/15/26)(a) | USD | 60 | 59,100 | |||||||||
Nabors Industries Inc., 5.75%, 02/01/25 (Call 11/01/24) | USD | 100 | 82,875 | |||||||||
Nabors Industries Ltd. | ||||||||||||
7.25%, 01/15/26 (Call 07/15/22)(a) | USD | 50 | 44,217 | |||||||||
7.50%, 01/15/28 (Call 01/15/23)(a) | USD | 50 | 43,650 | |||||||||
Nationstar Mortgage Holdings Inc. | ||||||||||||
5.13%, 12/15/30 (Call 12/15/25)(a) | USD | 80 | 79,158 | |||||||||
5.50%, 08/15/28 (Call 08/15/23)(a) | USD | 75 | 75,563 | |||||||||
6.00%, 01/15/27 (Call 01/15/23)(a) | USD | 110 | 114,840 | |||||||||
Navient Corp. | ||||||||||||
4.88%, 03/15/28 (Call 06/15/27) | USD | 45 | 44,054 | |||||||||
5.00%, 03/15/27 (Call 09/15/26) | USD | 65 | 65,397 | |||||||||
5.50%, 01/25/23(b) | USD | 150 | 157,050 | |||||||||
5.88%, 10/25/24 | USD | 65 | 68,475 | |||||||||
6.13%, 03/25/24 | USD | 105 | 110,906 | |||||||||
6.50%, 06/15/22 | USD | 100 | 104,933 | |||||||||
6.75%, 06/25/25(b) | USD | 65 | 70,604 | |||||||||
6.75%, 06/15/26 | USD | 65 | 70,314 | |||||||||
7.25%, 09/25/23 | USD | 65 | 70,606 | |||||||||
Navistar International Corp. | ||||||||||||
6.63%, 11/01/25 (Call 05/11/21)(a) | USD | 140 | 145,238 | |||||||||
9.50%, 05/01/25 (Call 06/25/21)(a) | USD | 80 | 86,800 | |||||||||
NCL Corp. Ltd. | ||||||||||||
5.88%, 03/15/26 (Call 12/15/25)(a)(b) | USD | 130 | 136,091 | |||||||||
10.25%, 02/01/26 (Call 08/01/23)(a) | USD | 85 | 99,963 | |||||||||
12.25%, 05/15/24 (Call 02/15/24)(a) | USD | 115 | 139,988 | |||||||||
NCL Finance Ltd., 6.13%, 03/15/28 (Call 12/15/27)(a) | USD | 65 | 68,153 | |||||||||
NCR Corp. | ||||||||||||
5.00%, 10/01/28 (Call 10/01/23)(a)(b) | USD | 95 | 98,088 | |||||||||
5.13%, 04/15/29 (Call 04/15/24)(a) | USD | 118 | 121,687 | |||||||||
5.25%, 10/01/30 (Call 10/01/25)(a)(b) | USD | 20 | 20,750 | |||||||||
5.75%, 09/01/27 (Call 09/01/22)(a) | USD | 65 | 68,656 | |||||||||
6.13%, 09/01/29 (Call 09/01/24)(a) | USD | 65 | 70,772 | |||||||||
8.13%, 04/15/25 (Call 04/15/22)(a) | USD | 25 | 27,375 | |||||||||
Netflix Inc. | ||||||||||||
3.00%, 06/15/25 (Call 03/15/25)(c) | EUR | 100 | 131,019 | |||||||||
3.63%, 06/15/25 (Call 03/15/25)(a) | USD | 25 | 26,925 | |||||||||
3.63%, 05/15/27 | EUR | 100 | 138,962 | |||||||||
3.63%, 06/15/30 (Call 03/15/30)(c) | EUR | 200 | 287,860 | |||||||||
3.88%, 11/15/29(c) | EUR | 100 | 145,781 | |||||||||
4.38%, 11/15/26(b) | USD | 125 | 140,973 | |||||||||
4.63%, 05/15/29 | EUR | 100 | 151,655 |
54 | 2 0 2 1 I SHARES SEMI - ANNUAL REPORT TO SHAREHOLDERS |
Schedule of Investments (unaudited) (continued) April 30, 2021 | iShares® US & Intl High Yield Corp Bond ETF (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||||||
United States (continued) | ||||||||||||
4.88%, 04/15/28(b) | USD | 175 | $ | 201,469 | ||||||||
4.88%, 06/15/30 (Call 03/15/30)(a)(b) | USD | 125 | 144,945 | |||||||||
5.38%, 11/15/29(a)(b) | USD | 90 | 106,875 | |||||||||
5.75%, 03/01/24 | USD | 50 | 56,297 | |||||||||
5.88%, 02/15/25(b) | USD | 100 | 115,750 | |||||||||
5.88%, 11/15/28 | USD | 190 | 231,562 | |||||||||
6.38%, 05/15/29 | USD | 100 | 125,577 | |||||||||
New Fortress Energy Inc. | ||||||||||||
6.50%, 09/30/26 (Call 03/31/23)(a) | USD | 175 | 178,512 | |||||||||
6.75%, 09/15/25 (Call 09/15/22)(a) | USD | 150 | 155,205 | |||||||||
Newell Brands Inc. | ||||||||||||
4.35%, 04/01/23 (Call 02/01/23) | USD | 100 | 105,526 | |||||||||
4.70%, 04/01/26 (Call 01/01/26) | USD | 250 | 278,437 | |||||||||
4.88%, 06/01/25 (Call 05/01/25) | USD | 90 | 100,102 | |||||||||
News Corp., 3.88%, 05/15/29 (Call 05/15/24)(a) | USD | 110 | 112,168 | |||||||||
Nexstar Broadcasting Inc. | ||||||||||||
4.75%, 11/01/28 (Call 11/01/23)(a) | USD | 75 | 76,517 | |||||||||
5.63%, 07/15/27 (Call 07/15/22)(a) | USD | 250 | 264,062 | |||||||||
NextEra Energy Operating Partners LP | ||||||||||||
3.88%, 10/15/26 (Call 07/15/26)(a) | USD | 65 | 67,961 | |||||||||
4.25%, 07/15/24 (Call 04/15/24)(a) | USD | 45 | 47,756 | |||||||||
4.50%, 09/15/27 (Call 06/15/27)(a) | USD | 65 | 70,200 | |||||||||
NFP Corp., 6.88%, 08/15/28 | USD | 180 | 188,775 | |||||||||
NGL Energy Operating LLC/NGL Energy Finance Corp., 7.50%, 02/01/26 (Call 02/01/23)(a) | USD | 240 | 252,600 | |||||||||
NGL Energy Partners LP/NGL Energy Finance Corp. | ||||||||||||
7.50%, 11/01/23 (Call 06/01/21) | USD | 80 | 78,309 | |||||||||
7.50%, 04/15/26 (Call 04/15/22)(b) | USD | 70 | 62,515 | |||||||||
Nielsen Co Luxembourg SARL (The), 5.00%, 02/01/25 (Call 05/31/21)(a)(b) | USD | 65 | 66,706 | |||||||||
Nielsen Finance LLC/Nielsen Finance Co. | ||||||||||||
5.63%, 10/01/28 (Call 10/01/23)(a) | USD | 120 | 127,950 | |||||||||
5.88%, 10/01/30 (Call 10/01/25)(a) | USD | 70 | 76,608 | |||||||||
NMG Holding Co. Inc./Neiman Marcus Group LLC, 7.13%, 04/01/26 (Call 04/01/23)(a) | USD | 135 | 138,089 | |||||||||
NortonLifeLock Inc. | ||||||||||||
3.95%, 06/15/22 (Call 03/15/22) | USD | 50 | 51,013 | |||||||||
5.00%, 04/15/25 (Call 05/11/21)(a) | USD | 140 | 141,784 | |||||||||
Novelis Corp. | ||||||||||||
4.75%, 01/30/30 (Call 01/30/25)(a) | USD | 220 | 229,552 | |||||||||
5.88%, 09/30/26 (Call 09/30/21)(a) | USD | 190 | 198,206 | |||||||||
NRG Energy Inc. | ||||||||||||
3.38%, 02/15/29 (Call 02/15/24)(a)(b) | USD | 15 | 14,711 | |||||||||
3.63%, 02/15/31 (Call 02/15/26)(a)(b) | USD | 120 | 117,570 | |||||||||
5.25%, 06/15/29 (Call 06/15/24)(a) | USD | 90 | 96,413 | |||||||||
5.75%, 01/15/28 (Call 01/15/23) | USD | 105 | 111,562 | |||||||||
6.63%, 01/15/27 (Call 07/15/21) | USD | 155 | 161,541 | |||||||||
7.25%, 05/15/26 (Call 05/17/21) | USD | 125 | 129,590 | |||||||||
NuStar Logistics LP | ||||||||||||
5.63%, 04/28/27 (Call 01/28/27) | USD | 65 | 68,819 | |||||||||
5.75%, 10/01/25 (Call 07/01/25) | USD | 85 | 91,462 | |||||||||
6.00%, 06/01/26 (Call 03/01/26) | USD | 90 | 97,473 | |||||||||
6.38%, 10/01/30 (Call 04/01/30)(b) | USD | 55 | 60,431 | |||||||||
Occidental Petroleum Corp. | ||||||||||||
2.70%, 02/15/23 (Call 11/15/22) | USD | 25 | 25,148 | |||||||||
2.90%, 08/15/24 (Call 07/15/24) | USD | 275 | 274,312 | |||||||||
3.20%, 08/15/26 (Call 06/15/26) | USD | 150 | 146,639 | |||||||||
3.40%, 04/15/26 (Call 01/15/26) | USD | 150 | 148,528 | |||||||||
3.50%, 06/15/25 (Call 03/15/25)(b) | USD | 100 | 100,656 | |||||||||
3.50%, 08/15/29 (Call 05/15/29) | USD | 200 | 191,695 |
Security | Par (000) | Value | ||||||||||
United States (continued) | ||||||||||||
5.50%, 12/01/25 (Call 09/01/25) | USD | 45 | $ | 48,511 | ||||||||
5.55%, 03/15/26 (Call 12/15/25)(b) | USD | 200 | 214,750 | |||||||||
5.88%, 09/01/25 (Call 06/01/25) | USD | 85 | 92,863 | |||||||||
6.13%, 01/01/31 (Call 07/01/30)(b) | USD | �� | 100 | 111,500 | ||||||||
6.38%, 09/01/28 (Call 03/01/28) | USD | 90 | 100,965 | |||||||||
6.63%, 09/01/30 (Call 03/01/30) | USD | 140 | 159,927 | |||||||||
7.50%, 05/01/31 | USD | 100 | 119,325 | |||||||||
7.88%, 09/15/31 | USD | 50 | 60,934 | |||||||||
8.00%, 07/15/25 (Call 04/15/25)(b) | USD | 155 | 181,014 | |||||||||
8.50%, 07/15/27 (Call 01/15/27)(b) | USD | 190 | 232,037 | |||||||||
8.88%, 07/15/30 (Call 01/15/30) | USD | 100 | 128,739 | |||||||||
OI European Group BV, 3.13%, 11/15/24 (Call 08/15/24)(c) | EUR | 100 | 124,853 | |||||||||
Olin Corp. | ||||||||||||
5.00%, 02/01/30 (Call 02/01/24) | USD | 65 | 68,501 | |||||||||
5.13%, 09/15/27 (Call 03/15/22) | USD | 90 | 93,962 | |||||||||
5.63%, 08/01/29 (Call 08/01/24) | USD | 95 | 102,856 | |||||||||
9.50%, 06/01/25 (Call 03/01/25)(a) | USD | 40 | 50,064 | |||||||||
OneMain Finance Corp. | ||||||||||||
4.00%, 09/15/30 (Call 09/15/25) | USD | 65 | 62,888 | |||||||||
5.38%, 11/15/29 (Call 05/15/29) | USD | 100 | 107,875 | |||||||||
5.63%, 03/15/23 | USD | 100 | 106,795 | |||||||||
6.13%, 05/15/22 | USD | 75 | 78,660 | |||||||||
6.13%, 03/15/24 (Call 09/15/23)(b) | USD | 165 | 178,406 | |||||||||
6.63%, 01/15/28 (Call 07/15/27) | USD | 100 | 113,650 | |||||||||
6.88%, 03/15/25 | USD | 155 | 176,157 | |||||||||
7.13%, 03/15/26 | USD | 175 | 204,298 | |||||||||
8.88%, 06/01/25 (Call 06/01/22) | USD | 75 | 83,207 | |||||||||
Organon Finance 1 LLC | ||||||||||||
2.88%, 04/30/28 (Call 04/30/24)(c) | EUR | 150 | 184,248 | |||||||||
4.13%, 04/30/28 (Call 04/30/24)(a) | USD | 200 | 204,898 | |||||||||
5.13%, 04/30/31 (Call 04/30/26)(a) | USD | 200 | 206,500 | |||||||||
Outfront Media Capital LLC/Outfront Media Capital Corp. | ||||||||||||
4.25%, 01/15/29 (Call 01/15/24)(a) | USD | 40 | 39,727 | |||||||||
4.63%, 03/15/30 (Call 03/15/25)(a) | USD | 65 | 64,532 | |||||||||
5.00%, 08/15/27 (Call 08/15/22)(a) | USD | 80 | 82,765 | |||||||||
6.25%, 06/15/25 (Call 06/15/22)(a) | USD | 80 | 84,900 | |||||||||
Ovintiv Exploration Inc. | ||||||||||||
5.38%, 01/01/26 (Call 10/01/25) | USD | 75 | 84,000 | |||||||||
5.63%, 07/01/24 | USD | 75 | 83,610 | |||||||||
Owens-Brockway Glass Container Inc. | ||||||||||||
5.88%, 08/15/23(a)(b) | USD | 90 | 97,825 | |||||||||
6.63%, 05/13/27 (Call 05/15/23)(a) | USD | 90 | 97,761 | |||||||||
Par Pharmaceutical Inc., 7.50%, 04/01/27 (Call 04/01/22)(a) | USD | 226 | 237,330 | |||||||||
Park Intermediate Holdings LLC/PK Domestic Property LLC/PK Finance Co-Issuer, 5.88%, 10/01/28 (Call 10/01/23)(a) | USD | 80 | 84,900 | |||||||||
Parsley Energy LLC/Parsley Finance Corp., 5.63%, 10/15/27 (Call 10/15/22)(a) | USD | 65 | 70,322 | |||||||||
PBF Holding Co. LLC/PBF Finance Corp. | ||||||||||||
6.00%, 02/15/28 (Call 02/15/23) | USD | 110 | 83,256 | |||||||||
7.25%, 06/15/25 (Call 06/01/21) | USD | 75 | 63,998 | |||||||||
9.25%, 05/15/25 (Call 05/15/22)(a) | USD | 125 | 130,937 | |||||||||
PDC Energy Inc. | ||||||||||||
5.75%, 05/15/26 (Call 06/01/21) | USD | 125 | 129,960 | |||||||||
6.13%, 09/15/24 (Call 06/01/21) | USD | 50 | 51,250 | |||||||||
PennyMac Financial Services Inc. | ||||||||||||
4.25%, 02/15/29 (Call 02/15/24)(a) | USD | 65 | 62,238 | |||||||||
5.38%, 10/15/25 (Call 10/15/22)(a) | USD | 75 | 79,031 |
SCHEDULE OF INVESTMENTS | 55 |
Schedule of Investments (unaudited) (continued) April 30, 2021 | iShares® US & Intl High Yield Corp Bond ETF (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||||||
United States (continued) | ||||||||||||
Penske Automotive Group Inc. | ||||||||||||
3.50%, 09/01/25 (Call 09/01/22)(b) | USD | 70 | $ | 71,750 | ||||||||
5.50%, 05/15/26 (Call 06/01/21) | USD | 60 | 61,929 | |||||||||
Performance Food Group Inc., 5.50%, 10/15/27 (Call 10/15/22)(a) | USD | 135 | 142,341 | |||||||||
PetSmart Inc./PetSmart Finance Corp., 4.75%, 02/15/28 (Call 02/15/24)(a) | USD | 250 | 257,169 | |||||||||
PG&E Corp. | ||||||||||||
5.00%, 07/01/28 (Call 07/01/23)(b) | USD | 100 | 105,125 | |||||||||
5.25%, 07/01/30 (Call 07/01/25) | USD | 145 | 154,715 | |||||||||
Photo Holdings Merger Sub Inc., 8.50%, 10/01/26 (Call 10/01/22)(a) | USD | 100 | 109,671 | |||||||||
Picasso Finance Sub Inc., 6.13%, 06/15/25 (Call 06/15/22)(a)(b) | USD | 45 | 47,869 | |||||||||
Pilgrim’s Pride Corp. | ||||||||||||
4.25%, 04/15/31 (Call 04/15/26)(a) | USD | 115 | 116,495 | |||||||||
5.88%, 09/30/27 (Call 09/30/22)(a) | USD | 80 | 85,000 | |||||||||
Post Holdings Inc. | ||||||||||||
4.50%, 09/15/31 (Call 09/15/26)(a) | USD | 180 | 178,704 | |||||||||
4.63%, 04/15/30 (Call 04/15/25)(a) | USD | 205 | 207,077 | |||||||||
5.50%, 12/15/29 (Call 12/15/24)(a) | USD | 95 | 102,391 | |||||||||
5.63%, 01/15/28 (Call 12/01/22)(a) | USD | 120 | 126,965 | |||||||||
5.75%, 03/01/27 (Call 03/01/22)(a) | USD | 165 | 172,837 | |||||||||
Prestige Brands Inc. | ||||||||||||
3.75%, 04/01/31 (Call 04/01/26)(a) | USD | 70 | 67,200 | |||||||||
5.13%, 01/15/28 (Call 01/15/23)(a) | USD | 50 | 52,446 | |||||||||
Prime Security Services Borrower LLC/Prime Finance Inc. | ||||||||||||
3.38%, 08/31/27 (Call 08/31/26)(a) | USD | 95 | 92,118 | |||||||||
5.25%, 04/15/24(a) | USD | 95 | 101,639 | |||||||||
5.75%, 04/15/26(a) | USD | 160 | 175,013 | |||||||||
6.25%, 01/15/28 (Call 01/15/23)(a) | USD | 135 | 141,919 | |||||||||
Primo Water Holdings Inc., 3.88%, 10/31/28 (Call 10/31/23)(c) | EUR | 100 | 122,793 | |||||||||
PTC Inc. | ||||||||||||
3.63%, 02/15/25 (Call 02/15/22)(a) | USD | 90 | 92,380 | |||||||||
4.00%, 02/15/28 (Call 02/15/23)(a) | USD | 65 | 66,721 | |||||||||
Qorvo Inc. | ||||||||||||
3.38%, 04/01/31 (Call 04/01/26)(a) | USD | 35 | 35,569 | |||||||||
4.38%, 10/15/29 (Call 10/15/24) | USD | 150 | 163,015 | |||||||||
Quicken Loans LLC, 5.25%, 01/15/28 (Call 01/15/23)(a) | USD | 125 | 131,804 | |||||||||
Quicken Loans LLC/Quicken Loans Co-Issuer Inc. | ||||||||||||
3.63%, 03/01/29 (Call 03/01/24)(a) | USD | 45 | 43,875 | |||||||||
3.88%, 03/01/31 (Call 03/01/26)(a) | USD | 180 | 175,500 | |||||||||
QVC Inc. | ||||||||||||
4.38%, 03/15/23 | USD | 70 | 73,934 | |||||||||
4.38%, 09/01/28 (Call 06/01/28) | USD | 65 | 66,625 | |||||||||
4.45%, 02/15/25 (Call 11/15/24) | USD | 75 | 80,121 | |||||||||
4.75%, 02/15/27 (Call 11/15/26)(b) | USD | 70 | 74,179 | |||||||||
4.85%, 04/01/24(b) | USD | 75 | 81,523 | |||||||||
Rackspace Technology Global Inc., 3.50%, 02/15/28 (Call 02/15/24)(a) | USD | 70 | 67,916 | |||||||||
Radian Group Inc. | ||||||||||||
4.50%, 10/01/24 (Call 07/01/24) | USD | 75 | 79,559 | |||||||||
4.88%, 03/15/27 (Call 09/15/26) | USD | 50 | 53,303 | |||||||||
6.63%, 03/15/25 (Call 09/15/24) | USD | 95 | 107,519 | |||||||||
Radiate Holdco LLC/Radiate Finance Inc. | ||||||||||||
4.50%, 09/15/26 (Call 09/15/23)(a) | USD | 90 | 91,648 | |||||||||
6.50%, 09/15/28 (Call 09/15/23)(a)(b) | USD | 80 | 83,424 | |||||||||
Radiology Partners Inc., 9.25%, 02/01/28 (Call 02/01/23)(a) | USD | 75 | 82,484 |
Security | Par (000) | Value | ||||||||||
United States (continued) | ||||||||||||
Range Resources Corp. | ||||||||||||
4.88%, 05/15/25 (Call 02/15/25)(b) | USD | 95 | $ | 94,525 | ||||||||
5.00%, 03/15/23 (Call 12/15/22)(b) | USD | 90 | 92,025 | |||||||||
8.25%, 01/15/29 (Call 01/15/24)(a)(b) | USD | 55 | 59,741 | |||||||||
9.25%, 02/01/26 (Call 02/01/22) | USD | 85 | 93,300 | |||||||||
Realogy Group LLC/Realogy Co-Issuer Corp. | ||||||||||||
4.88%, 06/01/23 (Call 03/01/23)(a) | USD | 50 | 52,000 | |||||||||
5.75%, 01/15/29 (Call 01/15/24)(a) | USD | 105 | 108,494 | |||||||||
7.63%, 06/15/25 (Call 06/15/22)(a) | USD | 90 | 98,381 | |||||||||
9.38%, 04/01/27 (Call 04/01/22)(a) | USD | 65 | 72,996 | |||||||||
RegionalCare Hospital Partners Holdings Inc./LifePoint Health Inc., 9.75%, 12/01/26 (Call 12/01/21)(a) | USD | 180 | 195,019 | |||||||||
Reynolds Group Issuer Inc./Reynolds Group Issuer LLC/Reynolds Group Issuer Lu, 4.00%, 10/15/27 (Call 10/15/23)(a)(b) | USD | 125 | 123,594 | |||||||||
RHP Hotel Properties LP/RHP Finance Corp. | ||||||||||||
4.50%, 02/15/29 (Call 02/15/24)(a) | USD | 65 | 64,513 | |||||||||
4.75%, 10/15/27 (Call 10/15/22)(b) | USD | 105 | 107,887 | |||||||||
Rite Aid Corp. | ||||||||||||
7.50%, 07/01/25 (Call 07/01/22)(a) | USD | 77 | 79,888 | |||||||||
8.00%, 11/15/26 (Call 01/15/23)(a) | USD | 114 | 118,346 | |||||||||
Rockies Express Pipeline LLC, 4.95%, 07/15/29 (Call 04/15/29)(a) | USD | 50 | 51,035 | |||||||||
RP Escrow Issuer LLC, 5.25%, 12/15/25 (Call 12/15/22)(a) | USD | 95 | 99,037 | |||||||||
Sabre GLBL Inc. | ||||||||||||
7.38%, 09/01/25 (Call 09/01/22)(a)(b) | USD | 80 | 87,100 | |||||||||
9.25%, 04/15/25 (Call 03/16/25)(a) | USD | 90 | 107,923 | |||||||||
SBA Communications Corp. | ||||||||||||
3.13%, 02/01/29 (Call 02/01/24)(a) | USD | 165 | 158,065 | |||||||||
3.88%, 02/15/27 (Call 02/15/23)(b) | USD | 200 | 204,750 | |||||||||
4.88%, 09/01/24 (Call 06/01/21) | USD | 140 | 143,369 | |||||||||
Scientific Games International Inc. | ||||||||||||
3.38%, 02/15/26 (Call 06/01/21)(c) | EUR | 100 | 120,205 | |||||||||
5.00%, 10/15/25 (Call 06/01/21)(a) | USD | 155 | 160,050 | |||||||||
7.00%, 05/15/28 (Call 05/15/23)(a)(b) | USD | 85 | 91,624 | |||||||||
7.25%, 11/15/29 (Call 11/15/24)(a)(b) | USD | 65 | 71,738 | |||||||||
8.25%, 03/15/26 (Call 03/15/22)(a) | USD | 135 | 145,749 | |||||||||
8.63%, 07/01/25 (Call 07/01/22)(a) | USD | 60 | 65,550 | |||||||||
SCIH Salt Holdings Inc. | ||||||||||||
4.88%, 05/01/28 (Call 05/01/24)(a) | USD | 100 | 99,750 | |||||||||
6.63%, 05/01/29 (Call 05/01/24)(a)(b) | USD | 34 | 33,481 | |||||||||
Scotts Miracle-Gro Co. (The), 4.00%, 04/01/31 (Call 04/01/26)(a) | USD | 45 | 44,519 | |||||||||
Scripps Escrow II Inc. | ||||||||||||
3.88%, 01/15/29 (Call 01/15/24)(a) | USD | 70 | 69,563 | |||||||||
5.38%, 01/15/31 (Call 01/15/26)(a) | USD | 70 | 70,981 | |||||||||
Seagate HDD Cayman | ||||||||||||
3.13%, 07/15/29 (Call 01/15/24)(a) | USD | 50 | 48,180 | |||||||||
3.38%, 07/15/31 (Call 01/15/26)(a) | USD | 55 | 52,939 | |||||||||
4.09%, 06/01/29 (Call 03/01/29)(a) | USD | 50 | 51,313 | |||||||||
4.13%, 01/15/31 (Call 10/15/30)(a) | USD | 50 | 50,688 | |||||||||
4.88%, 06/01/27 (Call 03/01/27) | USD | 75 | 83,348 | |||||||||
Sealed Air Corp. | ||||||||||||
4.00%, 12/01/27 (Call 09/01/27)(a) | USD | 55 | 57,836 | |||||||||
4.88%, 12/01/22 (Call 09/01/22)(a)(b) | USD | 55 | 57,829 | |||||||||
5.13%, 12/01/24 (Call 09/01/24)(a) | USD | 30 | 32,755 | |||||||||
5.25%, 04/01/23 (Call 01/01/23)(a) | USD | 50 | 53,046 | |||||||||
5.50%, 09/15/25 (Call 06/15/25)(a) | USD | 50 | 55,391 | |||||||||
Select Medical Corp., 6.25%, 08/15/26 (Call 08/15/22)(a)(b) | USD | 205 | 218,093 |
56 | 2 0 2 1 I SHARES SEMI - ANNUAL REPORT TO SHAREHOLDERS |
Schedule of Investments (unaudited) (continued) April 30, 2021 | iShares® US & Intl High Yield Corp Bond ETF (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||||||
United States (continued) | ||||||||||||
Sensata Technologies BV, 4.00%, 04/15/29 (Call 04/15/24)(a) | USD | 125 | $ | 125,775 | ||||||||
Sensata Technologies Inc. | ||||||||||||
3.75%, 02/15/31 (Call 02/15/26)(a) | USD | 30 | 29,824 | |||||||||
4.38%, 02/15/30 (Call 11/15/29)(a) | USD | 55 | 57,640 | |||||||||
Service Corp. International/U.S. | ||||||||||||
3.38%, 08/15/30 (Call 08/15/25) | USD | 75 | 72,659 | |||||||||
4.63%, 12/15/27 (Call 12/15/22)(b) | USD | 75 | 79,584 | |||||||||
5.13%, 06/01/29 (Call 06/01/24)(b) | USD | 100 | 107,959 | |||||||||
Service Properties Trust | ||||||||||||
3.95%, 01/15/28 (Call 07/15/27) | USD | 50 | 46,340 | |||||||||
4.35%, 10/01/24 (Call 09/01/24) | USD | 100 | 99,682 | |||||||||
4.38%, 02/15/30 (Call 08/15/29)(b) | USD | 50 | 46,635 | |||||||||
4.75%, 10/01/26 (Call 08/01/26) | USD | 50 | 48,594 | |||||||||
4.95%, 02/15/27 (Call 08/15/26)(b) | USD | 25 | 24,492 | |||||||||
4.95%, 10/01/29 (Call 07/01/29) | USD | 50 | 48,438 | |||||||||
5.50%, 12/15/27 (Call 09/15/27) | USD | 65 | 68,615 | |||||||||
7.50%, 09/15/25 (Call 06/15/25) | USD | 90 | 102,038 | |||||||||
Signature Aviation U.S. Holdings Inc. | ||||||||||||
4.00%, 03/01/28 (Call 03/01/23)(a) | USD | 80 | 80,801 | |||||||||
5.38%, 05/01/26 (Call 06/01/21)(a) | USD | 65 | 66,788 | |||||||||
Silgan Holdings Inc., 3.25%, 03/15/25 (Call 06/01/21) | EUR | 100 | 121,222 | |||||||||
Sinclair Television Group Inc. | ||||||||||||
4.13%, 12/01/30 (Call 12/01/25)(a) | USD | 80 | 78,000 | |||||||||
5.13%, 02/15/27 (Call 08/15/21)(a)(b) | USD | 75 | 74,497 | |||||||||
5.50%, 03/01/30 (Call 12/01/24)(a)(b) | USD | 65 | 65,039 | |||||||||
Sirius XM Radio Inc. | ||||||||||||
4.13%, 07/01/30 (Call 07/01/25)(a)(b) | USD | 170 | 170,289 | |||||||||
4.63%, 07/15/24 (Call 07/15/21)(a)(b) | USD | 190 | 195,495 | |||||||||
5.00%, 08/01/27 (Call 08/01/22)(a)(b) | USD | 190 | 199,262 | |||||||||
5.38%, 07/15/26 (Call 07/15/21)(a)(b) | USD | 225 | 232,492 | |||||||||
5.50%, 07/01/29 (Call 07/01/24)(a)(b) | USD | 155 | 167,691 | |||||||||
Six Flags Entertainment Corp. | ||||||||||||
4.88%, 07/31/24 (Call 06/01/21)(a) | USD | 125 | 126,305 | |||||||||
5.50%, 04/15/27 (Call 04/15/22)(a) | USD | 65 | 67,290 | |||||||||
Six Flags Theme Parks Inc., 7.00%, 07/01/25 (Call 07/01/22)(a) | USD | 35 | 37,769 | |||||||||
SM Energy Co., 10.00%, 01/15/25 (Call 06/17/22)(a) | USD | 205 | 233,302 | |||||||||
Solera LLC/Solera Finance Inc., 10.50%, 03/01/24 (Call 05/11/21)(a) | USD | 230 | 236,900 | |||||||||
Southwestern Energy Co. | ||||||||||||
6.45%, 01/23/25 (Call 10/23/24)(b) | USD | 115 | 124,200 | |||||||||
7.50%, 04/01/26 (Call 06/01/21) | USD | 80 | 84,616 | |||||||||
7.75%, 10/01/27 (Call 10/01/22) | USD | 40 | 43,050 | |||||||||
Spectrum Brands Inc. | ||||||||||||
3.88%, 03/15/31 (Call 03/15/26)(a)(b) | USD | 55 | 53,907 | |||||||||
4.00%, 10/01/26 (Call 10/01/21)(c) | EUR | 100 | 123,083 | |||||||||
5.75%, 07/15/25 (Call 06/01/21) | USD | 66 | 67,878 | |||||||||
Spirit AeroSystems Inc. | ||||||||||||
4.60%, 06/15/28 (Call 03/15/28)(b) | USD | 75 | 73,515 | |||||||||
5.50%, 01/15/25 (Call 10/15/22)(a) | USD | 15 | 15,875 | |||||||||
7.50%, 04/15/25 (Call 04/15/22)(a) | USD | 150 | 160,687 | |||||||||
Sprint Communications Inc., 6.00%, 11/15/22 | USD | 285 | 304,389 | |||||||||
Sprint Corp. | ||||||||||||
7.13%, 06/15/24 | USD | 290 | 335,275 | |||||||||
7.63%, 02/15/25 (Call 11/15/24) | USD | 190 | 226,100 | |||||||||
7.63%, 03/01/26 (Call 11/01/25) | USD | 165 | 202,397 | |||||||||
7.88%, 09/15/23 | USD | 485 | 553,293 | |||||||||
SS&C Technologies Inc., 5.50%, 09/30/27 (Call 03/30/22)(a) | USD | 275 | 291,878 |
Security | Par (000) | Value | ||||||||||
United States (continued) | ||||||||||||
Standard Industries Inc./NJ | ||||||||||||
2.25%, 11/21/26 (Call 08/21/26)(c) | EUR | 100 | $ | 118,325 | ||||||||
3.38%, 01/15/31 (Call 07/15/25)(a) | USD | 60 | 56,175 | |||||||||
4.38%, 07/15/30 (Call 07/15/25)(a) | USD | 160 | 160,671 | |||||||||
4.75%, 01/15/28 (Call 01/15/23)(a) | USD | 175 | 180,469 | |||||||||
5.00%, 02/15/27 (Call 02/15/22)(a)(b) | USD | 85 | 87,656 | |||||||||
Staples Inc. | ||||||||||||
7.50%, 04/15/26 (Call 04/15/22)(a) | USD | 250 | 259,292 | |||||||||
10.75%, 04/15/27 (Call 04/15/22)(a)(b) | USD | 125 | 129,337 | |||||||||
Stericycle Inc., | USD | 10 | 9,991 | |||||||||
Suburban Propane Partners LP/Suburban Energy Finance Corp., 5.50%, 06/01/24 (Call 06/01/21) | USD | 75 | 76,006 | |||||||||
Summit Materials LLC/Summit Materials Finance Corp., 5.25%, 01/15/29 (Call 07/15/23)(a) | USD | 65 | 68,643 | |||||||||
Sunoco LP/Sunoco Finance Corp. | ||||||||||||
4.50%, 05/15/29 (Call 05/15/24)(a) | USD | 85 | 85,706 | |||||||||
5.50%, 02/15/26 (Call 06/01/21) | USD | 100 | 103,054 | |||||||||
5.88%, 03/15/28 (Call 03/15/23) | USD | 50 | 53,054 | |||||||||
6.00%, 04/15/27 (Call 04/15/22) | USD | 75 | 78,679 | |||||||||
Talen Energy Supply LLC | ||||||||||||
6.50%, 06/01/25 (Call 06/01/21) | USD | 70 | 58,153 | |||||||||
6.63%, 01/15/28 (Call 01/15/23)(a) | USD | 85 | 86,034 | |||||||||
7.25%, 05/15/27 (Call 05/15/22)(a) | USD | 95 | 98,064 | |||||||||
7.63%, 06/01/28 (Call 06/01/23)(a) | USD | 15 | 15,556 | |||||||||
10.50%, 01/15/26 (Call 01/15/22)(a)(b) | USD | 75 | 68,906 | |||||||||
Tallgrass Energy Partners LP/Tallgrass Energy Finance Corp. | ||||||||||||
5.50%, 09/15/24 (Call 06/01/21)(a) | USD | 60 | 61,168 | |||||||||
5.50%, 01/15/28 (Call 01/15/23)(a) | USD | 95 | 94,504 | |||||||||
6.00%, 03/01/27 (Call 03/01/23)(a) | USD | 55 | 55,809 | |||||||||
6.00%, 12/31/30 (Call 12/31/25)(a) | USD | 65 | 65,362 | |||||||||
7.50%, 10/01/25 (Call 10/01/22)(a) | USD | 50 | 54,634 | |||||||||
Targa Resources Partners LP/Targa Resources Partners Finance Corp. | ||||||||||||
4.00%, 01/15/32 (Call 07/15/26)(a) | USD | 110 | 107,937 | |||||||||
4.25%, 11/15/23 (Call 05/17/21) | USD | 75 | 75,188 | |||||||||
4.88%, 02/01/31 (Call 02/01/26)(a) | USD | 100 | 104,935 | |||||||||
5.00%, 01/15/28 (Call 01/15/23) | USD | 90 | 94,767 | |||||||||
5.38%, 02/01/27 (Call 02/01/22) | USD | 65 | 67,836 | |||||||||
5.50%, 03/01/30 (Call 03/01/25)(b) | USD | 100 | 108,240 | |||||||||
5.88%, 04/15/26 (Call 06/01/21)(b) | USD | 125 | 130,937 | |||||||||
6.50%, 07/15/27 (Call 07/15/22) | USD | 95 | 103,490 | |||||||||
6.88%, 01/15/29 (Call 01/15/24) | USD | 50 | 56,097 | |||||||||
Taylor Morrison Communities Inc. | ||||||||||||
5.13%, 08/01/30 (Call 02/01/30)(a) | USD | 75 | 82,622 | |||||||||
5.75%, 01/15/28 (Call 10/15/27)(a) | USD | 55 | 62,055 | |||||||||
5.88%, 06/15/27 (Call 03/15/27)(a)(b) | USD | 65 | 73,775 | |||||||||
TEGNA Inc. | ||||||||||||
4.63%, 03/15/28 (Call 03/15/23)(b) | USD | 100 | 102,047 | |||||||||
4.75%, 03/15/26 (Call 03/15/23)(a) | USD | 30 | 31,925 | |||||||||
5.00%, 09/15/29 (Call 09/15/24) | USD | 145 | 150,481 | |||||||||
Teleflex Inc., 4.25%, 06/01/28 (Call 06/01/23)(a) | USD | 110 | 113,470 | |||||||||
Tempo Acquisition LLC/Tempo Acquisition Finance Corp., 6.75%, 06/01/25 (Call 05/11/21)(a) | USD | 125 | 127,729 | |||||||||
Tenet Healthcare Corp. | ||||||||||||
4.63%, 07/15/24 (Call 06/01/21) | USD | 235 | 238,548 | |||||||||
4.63%, 09/01/24 (Call 09/01/21)(a)(b) | USD | 75 | 77,228 | |||||||||
4.63%, 06/15/28 (Call 06/15/23)(a) | USD | 65 | 67,161 | |||||||||
4.88%, 01/01/26 (Call 03/01/22)(a) | USD | 265 | 275,335 | |||||||||
5.13%, 05/01/25 (Call 06/01/21) | USD | 175 | 177,100 | |||||||||
5.13%, 11/01/27 (Call 11/01/22)(a) | USD | 185 | 194,276 |
SCHEDULE OF INVESTMENTS | 57 |
Schedule of Investments (unaudited) (continued) April 30, 2021 | iShares® US & Intl High Yield Corp Bond ETF (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||||||
United States (continued) | ||||||||||||
6.13%, 10/01/28 (Call 10/01/23)(a) | USD | 250 | $ | 264,431 | ||||||||
6.25%, 02/01/27 (Call 02/01/22)(a) | USD | 210 | 220,237 | |||||||||
6.75%, 06/15/23 | USD | 185 | 202,020 | |||||||||
7.50%, 04/01/25 (Call 04/01/22)(a)(b) | USD | 25 | 26,961 | |||||||||
Tenneco Inc. | ||||||||||||
5.00%, 07/15/26 (Call 07/15/21)(b) | USD | 60 | 58,050 | |||||||||
5.13%, 04/15/29 (Call 04/15/24)(a) | USD | 80 | 79,400 | |||||||||
7.88%, 01/15/29 (Call 01/15/24)(a) | USD | 60 | 67,529 | |||||||||
TerraForm Power Operating LLC | ||||||||||||
4.25%, 01/31/23 (Call 10/31/22)(a) | USD | 65 | 66,942 | |||||||||
4.75%, 01/15/30 (Call 01/15/25)(a) | USD | 85 | 88,400 | |||||||||
5.00%, 01/31/28 (Call 07/31/27)(a) | USD | 75 | 80,615 | |||||||||
Terrier Media Buyer Inc., 8.88%, 12/15/27 (Call 12/15/22)(a) | USD | 105 | 114,056 | |||||||||
Tesla Inc., 5.30%, 08/15/25 (Call 06/01/21)(a) | USD | 225 | 233,010 | |||||||||
T-Mobile USA Inc. | ||||||||||||
2.25%, 02/15/26 (Call 02/15/23)(b) | USD | 100 | 100,625 | |||||||||
2.63%, 04/15/26 (Call 04/15/23) | USD | 130 | 132,281 | |||||||||
2.63%, 02/15/29 (Call 02/15/24) | USD | 120 | 116,970 | |||||||||
2.88%, 02/15/31 (Call 02/15/26) | USD | 100 | 98,200 | |||||||||
3.38%, 04/15/29 (Call 04/15/24) | USD | 145 | 147,449 | |||||||||
3.50%, 04/15/31 (Call 04/15/26) | USD | 117 | 118,718 | |||||||||
4.50%, 02/01/26 (Call 05/11/21) | USD | 225 | 230,625 | |||||||||
4.75%, 02/01/28 (Call 02/01/23) | USD | 190 | 203,062 | |||||||||
5.13%, 04/15/25 (Call 05/11/21) | USD | 65 | 66,118 | |||||||||
5.38%, 04/15/27 (Call 04/15/22) | USD | 65 | 68,986 | |||||||||
6.00%, 04/15/24 (Call 05/11/21) | USD | 125 | 125,855 | |||||||||
Toll Brothers Finance Corp. | ||||||||||||
3.80%, 11/01/29 (Call 08/01/29) | USD | 50 | 53,375 | |||||||||
4.35%, 02/15/28 (Call 11/15/27) | USD | 50 | 54,852 | |||||||||
4.38%, 04/15/23 (Call 01/15/23) | USD | 25 | 26,353 | |||||||||
4.88%, 03/15/27 (Call 12/15/26) | USD | 55 | 62,448 | |||||||||
TransDigm Inc. | ||||||||||||
4.63%, 01/15/29 (Call 01/15/24)(a) | USD | 115 | 113,397 | |||||||||
4.88%, 05/01/29 (Call 05/01/24)(a) | USD | 85 | 83,853 | |||||||||
5.50%, 11/15/27 (Call 11/15/22) | USD | 335 | 347,814 | |||||||||
6.25%, 03/15/26 (Call 03/15/22)(a) | USD | 505 | 534,669 | |||||||||
6.38%, 06/15/26 (Call 06/15/21) | USD | 145 | 150,318 | |||||||||
6.50%, 05/15/25 (Call 05/15/21) | USD | 95 | 96,564 | |||||||||
7.50%, 03/15/27 (Call 03/15/22) | USD | 75 | 80,388 | |||||||||
8.00%, 12/15/25 (Call 04/08/22)(a) | USD | 105 | 114,156 | |||||||||
Transocean Guardian Ltd., 5.88%, 01/15/24 (Call 07/15/21)(a) | USD | 72 | 67,875 | |||||||||
Transocean Inc., 11.50%, 01/30/27 (Call 07/30/23)(a) | USD | 50 | 48,216 | |||||||||
Transocean Pontus Ltd., 6.13%, 08/01/25 (Call 08/01/21)(a) | USD | 127 | 123,678 | |||||||||
Transocean Poseidon Ltd., 6.88%, 02/01/27 (Call 02/01/22)(a) | USD | 70 | 67,176 | |||||||||
Transocean Proteus Ltd., 6.25%, 12/01/24 (Call 05/31/21)(a) | USD | 45 | 44,213 | |||||||||
Transocean Sentry Ltd., 5.38%, 05/15/23 (Call 05/31/21)(a) | USD | 48 | 46,191 | |||||||||
Travel & Leisure Co. | ||||||||||||
3.90%, 03/01/23 (Call 12/01/22) | USD | 138 | 142,633 | |||||||||
6.00%, 04/01/27 (Call 01/01/27) | USD | 50 | 55,924 | |||||||||
6.63%, 07/31/26 (Call 04/30/26)(a) | USD | 35 | 40,119 | |||||||||
TRI Pointe Group Inc./TRI Pointe Homes Inc., 5.88%, 06/15/24 | USD | 50 | 55,799 | |||||||||
Triumph Group Inc. | ||||||||||||
6.25%, 09/15/24 (Call 06/01/21)(a) | USD | 50 | 50,594 | |||||||||
7.75%, 08/15/25 (Call 06/01/21)(b) | USD | 67 | 66,528 |
Security | Par (000) | Value | ||||||||||
United States (continued) | ||||||||||||
8.88%, 06/01/24 (Call 02/01/23)(a) | USD | 43 | $ | 47,838 | ||||||||
Tronox Inc. | ||||||||||||
4.63%, 03/15/29 (Call 03/15/24)(a) | USD | 130 | 132,925 | |||||||||
6.50%, 05/01/25 (Call 05/01/22)(a) | USD | 60 | 64,050 | |||||||||
Twilio Inc. | ||||||||||||
3.63%, 03/15/29 (Call 03/15/24)(b) | USD | 65 | 66,090 | |||||||||
3.88%, 03/15/31 (Call 03/15/26) | USD | 45 | 46,181 | |||||||||
U.S. Foods Inc. | ||||||||||||
4.75%, 02/15/29 (Call 02/15/24)(a) | USD | 105 | 106,232 | |||||||||
6.25%, 04/15/25 (Call 04/15/22)(a) | USD | 135 | 143,559 | |||||||||
U.S. Steel Corp. | ||||||||||||
6.25%, 03/15/26 (Call 06/01/21) | USD | 80 | 81,800 | |||||||||
6.88%, 08/15/25 (Call 06/01/21) | USD | 95 | 97,483 | |||||||||
6.88%, 03/01/29 (Call 03/01/24) | USD | 90 | 93,938 | |||||||||
Uber Technologies Inc. | ||||||||||||
6.25%, 01/15/28 (Call 09/15/23)(a)(b) | USD | 50 | 54,333 | |||||||||
7.50%, 05/15/25 (Call 05/15/22)(a) | USD | 115 | 124,344 | |||||||||
7.50%, 09/15/27 (Call 09/15/22)(a) | USD | 150 | 165,720 | |||||||||
8.00%, 11/01/26 (Call 11/01/21)(a) | USD | 165 | 178,509 | |||||||||
UGI International LLC, 3.25%, 11/01/25 (Call 11/01/21)(c) | EUR | 100 | 122,806 | |||||||||
United Airlines Holdings Inc., 4.25%, 10/01/22 | USD | 50 | 51,079 | |||||||||
United Airlines Inc. | ||||||||||||
4.38%, 04/15/26 (Call 10/15/25)(a) | USD | 169 | 175,375 | |||||||||
4.63%, 04/15/29 (Call 10/15/28)(a) | USD | 215 | 223,428 | |||||||||
United Rentals North America Inc. | ||||||||||||
3.88%, 02/15/31 (Call 08/15/25) | USD | 125 | 125,719 | |||||||||
4.00%, 07/15/30 (Call 07/15/25) | USD | 95 | 97,430 | |||||||||
4.88%, 01/15/28 (Call 01/15/23) | USD | 135 | 142,653 | |||||||||
5.25%, 01/15/30 (Call 01/15/25)(b) | USD | 75 | 82,031 | |||||||||
5.50%, 05/15/27 (Call 05/15/22) | USD | 125 | 133,094 | |||||||||
5.88%, 09/15/26 (Call 09/15/21) | USD | 125 | 130,807 | |||||||||
United Wholesale Mortgage LLC, 5.50%, 04/15/29 (Call 04/15/24)(a) | USD | 90 | 88,169 | |||||||||
Uniti Group LP/Uniti Fiber Holdings Inc./CSL Capital LLC | ||||||||||||
7.13%, 12/15/24 (Call 06/01/21)(a) | USD | 100 | 103,240 | |||||||||
7.88%, 02/15/25 (Call 02/15/22)(a) | USD | 235 | 253,212 | |||||||||
Uniti Group LP/Uniti Group Finance Inc./CSL Capital LLC | ||||||||||||
4.75%, 04/15/28 (Call 04/15/24)(a) | USD | 55 | 54,794 | |||||||||
6.00%, 04/15/23 (Call 05/06/21)(a)(b) | USD | 70 | 71,109 | |||||||||
6.50%, 02/15/29 (Call 02/15/24)(a) | USD | 120 | 119,601 | |||||||||
Univision Communications Inc. | ||||||||||||
5.13%, 02/15/25 (Call 05/11/21)(a)(b) | USD | 185 | 188,305 | |||||||||
6.63%, 06/01/27 (Call 06/01/23)(a) | USD | 190 | 205,889 | |||||||||
USA Compression Partners LP/USA Compression Finance Corp. | ||||||||||||
6.88%, 04/01/26 (Call 06/01/21) | USD | 115 | 120,514 | |||||||||
6.88%, 09/01/27 (Call 09/01/22) | USD | 70 | 73,675 | |||||||||
Valvoline Inc. | ||||||||||||
3.63%, 06/15/31 (Call 06/15/26)(a) | USD | 65 | 63,538 | |||||||||
4.25%, 02/15/30 (Call 02/15/25)(a)(b) | USD | 85 | 86,913 | |||||||||
Vector Group Ltd. | ||||||||||||
5.75%, 02/01/29 (Call 02/01/24)(a) | USD | 110 | 110,715 | |||||||||
10.50%, 11/01/26 (Call 11/01/21)(a) | USD | 70 | 74,091 | |||||||||
Vericast Corp., 8.38%, 08/15/22 | USD | 100 | 101,800 | |||||||||
Veritas U.S. Inc./Veritas Bermuda Ltd., 7.50%, 09/01/25 (Call 09/01/21)(a) | USD | 340 | 352,750 | |||||||||
Verscend Escrow Corp., 9.75%, 08/15/26 (Call 08/15/21)(a) | USD | 140 | 149,100 |
58 | 2 0 2 1 I SHARES SEMI - ANNUAL REPORT TO SHAREHOLDERS |
Schedule of Investments (unaudited) (continued) April 30, 2021 | iShares® US & Intl High Yield Corp Bond ETF (Percentages shown are based on Net Assets) |
Security |
Par | Value | ||||||||||
United States (continued) | ||||||||||||
ViacomCBS Inc. | ||||||||||||
5.88%, 02/28/57 (Call 02/28/22)(e) | USD | 105 | $ | 107,441 | ||||||||
6.25%, 02/28/57 (Call 02/28/27)(b)(e) | USD | 80 | 89,449 | |||||||||
ViaSat Inc. | ||||||||||||
5.63%, 09/15/25 (Call 05/11/21)(a) | USD | 90 | 92,025 | |||||||||
5.63%, 04/15/27 (Call 04/15/22)(a)(b) | USD | 75 | 78,755 | |||||||||
6.50%, 07/15/28 (Call 07/15/23)(a) | USD | 30 | 31,700 | |||||||||
VICI Properties LP/VICI Note Co. Inc. | ||||||||||||
3.50%, 02/15/25 (Call 02/15/22)(a) | USD | 100 | 102,356 | |||||||||
3.75%, 02/15/27 (Call 02/15/23)(a)(b) | USD | 70 | 70,475 | |||||||||
4.13%, 08/15/30 (Call 02/15/25)(a) | USD | 125 | 127,110 | |||||||||
4.25%, 12/01/26 (Call 12/01/22)(a) | USD | 125 | 129,062 | |||||||||
4.63%, 12/01/29 (Call 12/01/24)(a) | USD | 125 | 129,756 | |||||||||
Viking Cruises Ltd. | ||||||||||||
5.88%, 09/15/27 (Call 09/15/22)(a) | USD | 105 | 102,900 | |||||||||
13.00%, 05/15/25 (Call 05/15/22)(a) | USD | 90 | 105,232 | |||||||||
Vistra Operations Co. LLC | ||||||||||||
5.00%, 07/31/27 (Call 07/31/22)(a) | USD | 155 | 160,585 | |||||||||
5.50%, 09/01/26 (Call 09/01/21)(a)(b) | USD | 100 | 103,375 | |||||||||
5.63%, 02/15/27 (Call 02/15/22)(a) | USD | 145 | 150,974 | |||||||||
VOC Escrow Ltd., 5.00%, 02/15/28 (Call 02/15/23)(a)(b) | USD | 85 | 86,700 | |||||||||
Weatherford International Ltd., 11.00%, 12/01/24 (Call 12/01/21)(a) | USD | 240 | 236,400 | |||||||||
WESCO Distribution Inc. | ||||||||||||
7.13%, 06/15/25 (Call 06/15/22)(a) | USD | 80 | 86,530 | |||||||||
7.25%, 06/15/28 (Call 06/15/23)(a) | USD | 205 | 227,268 | |||||||||
Western Digital Corp., 4.75%, 02/15/26 (Call 11/15/25)(b) | USD | 240 | 265,950 | |||||||||
Western Midstream Operating LP 3.95%, 06/01/25 (Call 03/01/25) | USD | 50 | 52,000 | |||||||||
4.35%, 02/01/25 (Call 01/01/25) | USD | 125 | 131,719 | |||||||||
4.50%, 03/01/28 (Call 12/01/27) | USD | 50 | 53,125 | |||||||||
4.65%, 07/01/26 (Call 04/01/26) | USD | 50 | 53,375 | |||||||||
4.75%, 08/15/28 (Call 05/15/28) | USD | 50 | 53,625 | |||||||||
5.30%, 02/01/30 (Call 11/01/29)(b) | USD | 150 | 163,594 | |||||||||
William Carter Co. (The) | ||||||||||||
5.50%, 05/15/25 (Call 05/15/22)(a) | USD | 90 | 95,401 | |||||||||
5.63%, 03/15/27 (Call 03/15/22)(a) | USD | 75 | 79,057 | |||||||||
Williams Scotsman International Inc., 4.63%, 08/15/28 (Call 08/15/23)(a) | USD | 55 | 56,100 | |||||||||
Windstream Escrow LLC/Windstream Escrow Finance Corp., 7.75%, 08/15/28 (Call 08/15/23)(a)(b) | USD | 155 | 161,607 | |||||||||
WMG Acquisition Corp. | ||||||||||||
2.75%, 07/15/28 (Call 07/15/23)(c) | EUR | 100 | 122,906 | |||||||||
3.00%, 02/15/31 (Call 02/15/26)(a) | USD | 40 | 37,550 | |||||||||
Wolverine Escrow LLC | ||||||||||||
8.50%, 11/15/24 (Call 11/15/21)(a) | USD | 74 | 72,934 | |||||||||
9.00%, 11/15/26 (Call 11/15/22)(a) | USD | 114 | 112,773 | |||||||||
13.13%, 11/15/27 (Call 11/15/22)(a)(b) | USD | 40 | 33,893 | |||||||||
WPX Energy Inc. | ||||||||||||
4.50%, 01/15/30 (Call 01/15/25) | USD | 65 | 70,021 | |||||||||
5.25%, 09/15/24 (Call 06/15/24) | USD | 80 | 88,720 | |||||||||
5.25%, 10/15/27 (Call 10/15/22) | USD | 59 | 63,065 | |||||||||
5.75%, 06/01/26 (Call 06/01/21) | USD | 65 | 68,070 | |||||||||
5.88%, 06/15/28 (Call 06/15/23) | USD | 8 | 8,819 | |||||||||
WR Grace & Co.-Conn, 4.88%, 06/15/27 (Call 06/15/23)(a) | USD | 120 | 125,100 | |||||||||
Wynn Las Vegas LLC/Wynn Las Vegas Capital Corp. | ||||||||||||
4.25%, 05/30/23 (Call 02/28/23)(a) | USD | 65 | 66,747 | |||||||||
5.25%, 05/15/27 (Call 02/15/27)(a)(b) | USD | 130 | 137,892 | |||||||||
5.50%, 03/01/25 (Call 12/01/24)(a) | USD | 225 | 240,165 |
Security | Par/ Shares (000) | Value | ||||||||||
United States (continued) | ||||||||||||
Wynn Resorts Finance LLC/Wynn Resorts Capital Corp. | ||||||||||||
5.13%, 10/01/29 (Call 07/01/29)(a) | USD | 100 | $ | 103,375 | ||||||||
7.75%, 04/15/25 (Call 04/15/22)(a) | USD | 100 | 108,023 | |||||||||
Xerox Corp., 4.38%, 03/15/23 (Call 02/15/23) | USD | 175 | 183,575 | |||||||||
Xerox Holdings Corp. | ||||||||||||
5.00%, 08/15/25 (Call 07/15/25)(a) | USD | 75 | 78,778 | |||||||||
5.50%, 08/15/28 (Call 07/15/28)(a) | USD | 65 | 67,925 | |||||||||
XPO Logistics Inc. | ||||||||||||
6.13%, 09/01/23 (Call 06/01/21)(a) | USD | 65 | 65,829 | |||||||||
6.25%, 05/01/25 (Call 05/01/22)(a) | USD | 125 | 133,906 | |||||||||
6.75%, 08/15/24 (Call 08/15/21)(a) | USD | 125 | 131,201 | |||||||||
Yum! Brands Inc. | ||||||||||||
3.63%, 03/15/31 (Call 12/15/30) | USD | 110 | 108,453 | |||||||||
4.63%, 01/31/32 (Call 10/01/26) | USD | 95 | 99,294 | |||||||||
4.75%, 01/15/30 (Call 10/15/29)(a) | USD | 125 | 134,219 | |||||||||
7.75%, 04/01/25 (Call 04/01/22)(a) | USD | 60 | 65,550 | |||||||||
Zayo Group Holdings Inc. | ||||||||||||
4.00%, 03/01/27 (Call 06/01/21)(a) | USD | 155 | 153,915 | |||||||||
6.13%, 03/01/28 (Call 03/01/23)(a) | USD | 140 | 144,476 | |||||||||
|
| |||||||||||
122,566,850 | ||||||||||||
|
| |||||||||||
Total Corporate Bonds & Notes — 98.4% |
| 184,181,147 | ||||||||||
|
| |||||||||||
Common Stocks | ||||||||||||
United States — 0.0% | ||||||||||||
SM Energy Co. | 5 | 77,657 | ||||||||||
|
| |||||||||||
Total Common Stocks — 0.0% |
| 77,657 | ||||||||||
|
| |||||||||||
Short-Term Investments | ||||||||||||
Money Market Funds — 10.9% | ||||||||||||
BlackRock Cash Funds: Institutional, SL Agency Shares, 0.08%(f)(g)(h) |
| 19,255 | 19,264,470 | |||||||||
BlackRock Cash Funds: Treasury, SL Agency Shares, 0.00%(f)(g) |
| 1,040 | 1,040,000 | |||||||||
|
| |||||||||||
20,304,470 | ||||||||||||
|
| |||||||||||
Total Short-Term Investments — 10.9% |
| 20,304,470 | ||||||||||
|
| |||||||||||
Total Investments in Securities — 109.3% |
| 204,563,274 | ||||||||||
Other Assets, Less Liabilities — (9.3)% |
| (17,393,936 | ) | |||||||||
|
| |||||||||||
Net Assets — 100.0% |
| $ | 187,169,338 | |||||||||
|
|
(a) | Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration to qualified institutional investors. |
(b) | All or a portion of this security is on loan. |
(c) | This security may be resold to qualified foreign investors and foreign institutional buyers under Regulation S of the Securities Act of 1933. |
(d) | Perpetual security with no stated maturity date. |
(e) | Variable rate security. Interest rate resets periodically. The rate shown is the effective interest rate as of period end. Security description also includes the reference rate and spread if published and available. |
(f) | Affiliate of the Fund. |
(g) | Annualized 7-day yield as of period-end. |
(h) | All or a portion of this security was purchased with cash collateral received from loaned securities. |
SCHEDULE OF INVESTMENTS | 59 |
Schedule of Investments (unaudited) (continued) April 30, 2021 | iShares® US & Intl High Yield Corp Bond ETF |
Affiliates
Investments in issuers considered to be affiliate(s) of the Fund during the six months ended April 30, 2021 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:
| ||||||||||||||||||||||||||||||||||||||||
Affiliated Issuer | Value at 10/31/20 | Purchases at Cost | Proceeds from Sales | Net Realized Gain (Loss) | Change in Unrealized | Value at 04/30/21 | Shares Held at 04/30/21 (000) | Income | Capital Gain Distributions from Underlying Funds | |||||||||||||||||||||||||||||||
| ||||||||||||||||||||||||||||||||||||||||
BlackRock Cash Funds: Institutional, SL Agency Shares | $ | 11,552,610 | $ | 7,715,001 | (a) | $ | — | $ | (1,407 | ) | $ | (1,734 | ) | $ | 19,264,470 | 19,255 | $ | 21,023 | (b) | $ | — | |||||||||||||||||||
BlackRock Cash Funds: Treasury, SL Agency Shares | 2,600,000 | — | (1,560,000 | )(a) | — | — | 1,040,000 | 1,040 | 295 | — | ||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||||||||||||||||||||||
$ | (1,407 | ) | $ | (1,734 | ) | $ | 20,304,470 | �� | $ | 21,318 | $ | — | ||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
(a) | Represents net amount purchased (sold). |
(b) | All or a portion represents securities lending income earned from the reinvestment of cash collateral from loaned securities, net of fees and collateral investment expenses, and other payments to and from borrowers of securities. |
Fair Value Measurements
Various inputs are used in determining the fair value of financial instruments. For description of the input levels and information about the Fund’s policy regarding valuation of financial instruments, refer to the Notes to Financial Statements.
The following table summarizes the value of the Fund’s investments according to the fair value hierarchy as of April 30, 2021. The breakdown of the Fund’s investments into major categories is disclosed in the Schedule of Investments above.
| ||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
| ||||||||||||||||
Investments | ||||||||||||||||
Assets | ||||||||||||||||
Corporate Bonds & Notes | $ | — | $ | 184,181,147 | $ | — | $ | 184,181,147 | ||||||||
Common Stocks | 77,657 | — | — | 77,657 | ||||||||||||
Money Market Funds | 20,304,470 | — | — | 20,304,470 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
$ | 20,382,127 | $ | 184,181,147 | $ | — | $ | 204,563,274 | |||||||||
|
|
|
|
|
|
|
|
See notes to financial statements.
60 | 2 0 2 1 I SHARES SEMI - ANNUAL REPORT TO SHAREHOLDERS |
Statements of Assets and Liabilities (unaudited)
April 30, 2021
iShares International High Yield Bond ETF | iShares J.P. Morgan EM Corporate | iShares J.P. Morgan Yield Bond ETF | iShares J.P. Morgan EM Local Currency Bond ETF | |||||||||||||
| ||||||||||||||||
ASSETS | ||||||||||||||||
Investments in securities, at value (including securities on loan)(a): | ||||||||||||||||
Unaffiliated(b) | $ | 66,622,707 | $ | 343,677,109 | $ | 398,847,240 | $ | 473,846,933 | ||||||||
Affiliated(c) | 20,000 | 29,187,069 | 35,565,504 | 420,000 | ||||||||||||
Cash | 6,983 | 6,713 | 14,529 | 1,938 | ||||||||||||
Foreign currency, at value(d) | 1,246,151 | — | — | 2,723,371 | ||||||||||||
Receivables: | ||||||||||||||||
Investments sold | 899,765 | 2,305,112 | 5,053,614 | 721,137 | ||||||||||||
Securities lending income — Affiliated | — | 5,582 | 15,028 | — | ||||||||||||
Capital shares sold | 271,855 | 5,415,440 | 380,172 | 576,738 | ||||||||||||
Dividends | — | 40 | 51 | 2,648 | ||||||||||||
Interest | 770,774 | 3,484,944 | 5,508,914 | 8,895,561 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total assets | 69,838,235 | 384,082,009 | 445,385,052 | 487,188,326 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
LIABILITIES | ||||||||||||||||
Collateral on securities loaned, at value | — | 24,803,458 | 30,129,708 | — | ||||||||||||
Deferred foreign capital gain tax | — | — | — | 243,051 | ||||||||||||
Payables: | ||||||||||||||||
Investments purchased | 1,911,988 | 9,654,635 | 6,878,703 | 2,481,874 | ||||||||||||
Investment advisory fees | 20,777 | 138,192 | 163,377 | 116,679 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total liabilities | 1,932,765 | 34,596,285 | 37,171,788 | 2,841,604 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
NET ASSETS | $ | 67,905,470 | $ | 349,485,724 | $ | 408,213,264 | $ | 484,346,722 | ||||||||
|
|
|
|
|
|
|
| |||||||||
NET ASSETS CONSIST OF: | ||||||||||||||||
Paid-in capital | $ | 69,085,650 | $ | 347,145,297 | $ | 469,615,676 | $ | 523,660,825 | ||||||||
Accumulated earnings (loss) | (1,180,180 | ) | 2,340,427 | (61,402,412 | ) | (39,314,103 | ) | |||||||||
|
|
|
|
|
|
|
| |||||||||
NET ASSETS | $ | 67,905,470 | $ | 349,485,724 | $ | 408,213,264 | $ | 484,346,722 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Shares outstanding | 1,200,000 | 6,750,000 | 9,050,000 | 11,200,000 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Net asset value | $ | 56.59 | $ | 51.78 | $ | 45.11 | $ | 43.25 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Shares authorized | 500 million | 500 million | 500 million | 500 million | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Par value | $ | 0.001 | $ | 0.001 | $ | 0.001 | $ | 0.001 | ||||||||
|
|
|
|
|
|
|
| |||||||||
(a) Securities loaned, at value | $ | — | $ | 21,831,448 | $ | 28,208,434 | $ | — | ||||||||
(b) Investments, at cost — Unaffiliated | $ | 63,275,551 | $ | 339,527,661 | $ | 402,190,058 | $ | 489,298,296 | ||||||||
(c) Investments, at cost — Affiliated | $ | 20,000 | $ | 29,181,896 | $ | 35,567,936 | $ | 420,000 | ||||||||
(d) Foreign currency, at cost | $ | 1,229,785 | $ | — | $ | — | $ | 2,732,675 |
See notes to financial statements.
FINANCIAL STATEMENTS | 61 |
Statements of Assets and Liabilities (unaudited) (continued)
April 30, 2021
iShares US & Intl High Yield Corp Bond ETF | ||||
| ||||
ASSETS |
| |||
Investments in securities, at value (including securities on loan)(a): | ||||
Unaffiliated(b) | $ | 184,258,804 | ||
Affiliated(c) | 20,304,470 | |||
Cash | 2,385 | |||
Foreign currency, at value(d) | 980,343 | |||
Receivables: | ||||
Investments sold | 1,620,534 | |||
Securities lending income — Affiliated | 3,696 | |||
Dividends | 71 | |||
Interest | 2,417,538 | |||
|
| |||
Total assets | 209,587,841 | |||
|
| |||
LIABILITIES | ||||
Collateral on securities loaned, at value | 19,260,200 | |||
Payables: | ||||
Investments purchased | 3,097,072 | |||
Investment advisory fees | 61,231 | |||
|
| |||
Total liabilities | 22,418,503 | |||
|
| |||
NET ASSETS | $ | 187,169,338 | ||
|
| |||
NET ASSETS CONSIST OF: | ||||
Paid-in capital | $ | 187,149,767 | ||
Accumulated earnings | 19,571 | |||
|
| |||
NET ASSETS | $ | 187,169,338 | ||
|
| |||
Shares outstanding | 3,700,000 | |||
|
| |||
Net asset value | $ | 50.59 | ||
|
| |||
Shares authorized | 500 million | |||
|
| |||
Par value | $ | 0.001 | ||
|
| |||
(a) Securities loaned, at value | $ | 18,591,006 | ||
(b) Investments, at cost — Unaffiliated | $ | 175,813,695 | ||
(c) Investments, at cost — Affiliated | $ | 20,301,831 | ||
(d) Foreign currency, at cost | $ | 956,292 |
See notes to financial statements.
62 | 2 0 2 1 I SHARES SEMI - ANNUAL REPORT TO SHAREHOLDERS |
Statements of Operations (unaudited)
Six Months Ended April 30, 2021
iShares Bond ETF | iShares J.P. Morgan EM Bond ETF | iShares J.P. Morgan EM High Yield Bond ETF | iShares J.P. Morgan EM Local Bond ETF | |||||||||||||
| ||||||||||||||||
INVESTMENT INCOME | ||||||||||||||||
Dividends — Affiliated | $ | 5 | $ | 262 | $ | 444 | $ | 198 | ||||||||
Interest — Unaffiliated | 826,388 | 5,472,323 | 10,415,612 | 12,779,998 | ||||||||||||
Securities lending income — Affiliated — net | — | 31,198 | 50,698 | — | ||||||||||||
Other income — Unaffiliated | 9,992 | 4,250 | 4,200 | — | ||||||||||||
Foreign taxes withheld | — | (25 | ) | (72 | ) | (231,709 | ) | |||||||||
|
|
|
|
|
|
|
| |||||||||
Total investment income | 836,385 | 5,508,008 | 10,470,882 | 12,548,487 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
EXPENSES | ||||||||||||||||
Investment advisory fees | 108,943 | 686,330 | 870,127 | 748,909 | ||||||||||||
Commitment fees | — | — | — | 6,677 | ||||||||||||
Miscellaneous | 173 | 173 | 173 | 4,978 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total expenses | 109,116 | 686,503 | 870,300 | 760,564 | ||||||||||||
Less: | ||||||||||||||||
Investment advisory fees waived | — | — | (32,907 | ) | — | |||||||||||
|
|
|
|
|
|
|
| |||||||||
Total expenses after fees waived | 109,116 | 686,503 | 837,393 | 760,564 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Net investment income | 727,269 | 4,821,505 | 9,633,489 | 11,787,923 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
REALIZED AND UNREALIZED GAIN (LOSS) | ||||||||||||||||
Net realized gain (loss) from: | ||||||||||||||||
Investments — Unaffiliated(a) | (62,224 | ) | (445,615 | ) | (5,484,157 | ) | (3,158,567 | ) | ||||||||
Investments — Affiliated | — | (1,272 | ) | (4,481 | ) | — | ||||||||||
In-kind redemptions — Unaffiliated | — | — | 189,766 | 5,018,146 | ||||||||||||
Foreign currency transactions | 39,434 | — | — | 254,987 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Net realized gain (loss) | (22,790 | ) | (446,887 | ) | (5,298,872 | ) | 2,114,566 | |||||||||
|
|
|
|
|
|
|
| |||||||||
Net change in unrealized appreciation (depreciation) on: | ||||||||||||||||
Investments — Unaffiliated(b) | 4,268,491 | 2,053,947 | 20,186,566 | 5,725,446 | ||||||||||||
Investments — Affiliated | — | (3,286 | ) | (617 | ) | — | ||||||||||
Foreign currency translations | 16,731 | — | — | 77,014 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Net change in unrealized appreciation (depreciation) | 4,285,222 | 2,050,661 | 20,185,949 | 5,802,460 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Net realized and unrealized gain | 4,262,432 | 1,603,774 | 14,887,077 | 7,917,026 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
NET INCREASE IN NET ASSETS RESULTING FROM OPERATIONS | $ | 4,989,701 | $ | 6,425,279 | $ | 24,520,566 | $ | 19,704,949 | ||||||||
|
|
|
|
|
|
|
| |||||||||
(a) Net of foreign capital gain tax and capital gain tax refund, if applicable | $ | — | $ | — | $ | — | $ | 164,980 | ||||||||
(b) Net of reduction in deferred foreign capital gain tax of | $ | — | $ | — | $ | — | $ | 199,791 |
See notes to financial statements.
FINANCIAL STATEMENTS | 63 |
Statements of Operations (unaudited) (continued)
Six Months Ended April 30, 2021
iShares US & Intl High Yield Corp Bond ETF | ||||
| ||||
INVESTMENT INCOME | ||||
Dividends — Unaffiliated | $ | 49 | ||
Dividends — Affiliated | 295 | |||
Interest — Unaffiliated | 4,258,397 | |||
Securities lending income — Affiliated — net | 21,023 | |||
Other income — Unaffiliated | 6,700 | |||
|
| |||
Total investment income | 4,286,464 | |||
|
| |||
EXPENSES | ||||
Investment advisory fees | 367,951 | |||
Miscellaneous | 173 | |||
|
| |||
Total expenses | 368,124 | |||
|
| |||
Net investment income | 3,918,340 | |||
|
| |||
REALIZED AND UNREALIZED GAIN (LOSS) | ||||
Net realized gain (loss) from: | ||||
Investments — Unaffiliated | 862,521 | |||
Investments — Affiliated | (1,407 | ) | ||
Foreign currency transactions | 21,256 | |||
|
| |||
Net realized gain | 882,370 | |||
|
| |||
Net change in unrealized appreciation (depreciation) on: | ||||
Investments — Unaffiliated | 9,845,811 | |||
Investments — Affiliated | (1,734 | ) | ||
Foreign currency translations | 28,314 | |||
|
| |||
Net change in unrealized appreciation (depreciation) | 9,872,391 | |||
|
| |||
Net realized and unrealized gain | 10,754,761 | |||
|
| |||
NET INCREASE IN NET ASSETS RESULTING FROM OPERATIONS | $ | 14,673,101 | ||
|
|
See notes to financial statements.
64 | 2 0 2 1 I SHARES SEMI - ANNUAL REPORT TO SHAREHOLDERS |
Statements of Changes in Net Assets
iShares International High Yield Bond ETF | iShares J.P. Morgan EM Corporate Bond ETF | |||||||||||||||||||
Six Months 04/30/21 | Year Ended 10/31/20 | Six Months Ended 04/30/21 | Year Ended 10/31/20 | |||||||||||||||||
| ||||||||||||||||||||
INCREASE (DECREASE) IN NET ASSETS | ||||||||||||||||||||
OPERATIONS | ||||||||||||||||||||
Net investment income | $ | 727,269 | $ | 1,257,138 | $ | 4,821,505 | $ | 7,551,999 | ||||||||||||
Net realized loss | (22,790 | ) | (1,331,686 | ) | (446,887 | ) | (4,735,907 | ) | ||||||||||||
Net change in unrealized appreciation (depreciation) | 4,285,222 | 1,384,418 | 2,050,661 | (1,354,795 | ) | |||||||||||||||
|
|
|
|
|
|
|
| |||||||||||||
Net increase in net assets resulting from operations | 4,989,701 | 1,309,870 | 6,425,279 | 1,461,297 | ||||||||||||||||
|
|
|
|
|
|
|
| |||||||||||||
DISTRIBUTIONS TO SHAREHOLDERS(a) | ||||||||||||||||||||
Decrease in net assets resulting from distributions to shareholders | (736,269 | ) | (495,118 | ) | (4,712,669 | ) | (7,540,091 | ) | ||||||||||||
|
|
|
|
|
|
|
| |||||||||||||
CAPITAL SHARE TRANSACTIONS | ||||||||||||||||||||
Net increase in net assets derived from capital share transactions | 16,901,852 | 5,097,119 | 133,041,643 | 54,125,456 | ||||||||||||||||
|
|
|
|
|
|
|
| |||||||||||||
NET ASSETS | ||||||||||||||||||||
Total increase in net assets | 21,155,284 | 5,911,871 | 134,754,253 | 48,046,662 | ||||||||||||||||
Beginning of period | 46,750,186 | 40,838,315 | 214,731,471 | 166,684,809 | ||||||||||||||||
|
|
|
|
|
|
|
| |||||||||||||
End of period | $ | 67,905,470 | $ | 46,750,186 | $ | 349,485,724 | $ | 214,731,471 | ||||||||||||
|
|
|
|
|
|
|
|
(a) | Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
See notes to financial statements.
FINANCIAL STATEMENTS | 65 |
Statements of Changes in Net Assets (continued)
iShares J.P. Morgan EM High Yield Bond ETF | iShares J.P. Morgan EM Local Currency Bond ETF | |||||||||||||||||||||
Six Months Ended 04/30/21 (unaudited) | Year Ended 10/31/20 | Six Months Ended 04/30/21 (unaudited) | Year Ended 10/31/20 | |||||||||||||||||||
| ||||||||||||||||||||||
INCREASE (DECREASE) IN NET ASSETS | ||||||||||||||||||||||
OPERATIONS | ||||||||||||||||||||||
Net investment income | $ | 9,633,489 | $ | 19,523,615 | $ | 11,787,923 | $ | 24,939,525 | ||||||||||||||
Net realized gain (loss) | (5,298,872 | ) | (40,926,249 | ) | 2,114,566 | (56,186,070 | ) | |||||||||||||||
Net change in unrealized appreciation (depreciation) | 20,185,949 | (7,708,895 | ) | 5,802,460 | 5,560,533 | |||||||||||||||||
|
|
|
|
|
|
|
| |||||||||||||||
Net increase (decrease) in net assets resulting from operations | 24,520,566 | (29,111,529 | ) | 19,704,949 | (25,686,012 | ) | ||||||||||||||||
|
|
|
|
|
|
|
| |||||||||||||||
DISTRIBUTIONS TO SHAREHOLDERS(a) | ||||||||||||||||||||||
Decrease in net assets resulting from distributions to shareholders | (10,405,908 | ) | (19,949,771 | ) | — | (24,281,359 | ) | |||||||||||||||
|
|
|
|
|
|
|
| |||||||||||||||
CAPITAL SHARE TRANSACTIONS | ||||||||||||||||||||||
Net increase (decrease) in net assets derived from capital share transactions | 90,514,579 | 19,267,173 | (35,458,678 | ) | 13,989,851 | |||||||||||||||||
|
|
|
|
|
|
|
| |||||||||||||||
NET ASSETS | ||||||||||||||||||||||
Total increase (decrease) in net assets | 104,629,237 | (29,794,127 | ) | (15,753,729 | ) | (35,977,520 | ) | |||||||||||||||
Beginning of period | 303,584,027 | 333,378,154 | 500,100,451 | 536,077,971 | ||||||||||||||||||
|
|
|
|
|
|
|
| |||||||||||||||
End of period | $ | 408,213,264 | $ | 303,584,027 | $ | 484,346,722 | $ | 500,100,451 | ||||||||||||||
|
|
|
|
|
|
|
|
(a) | Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
See notes to financial statements.
66 | 2 0 2 1 I SHARES SEMI - ANNUAL REPORT TO SHAREHOLDERS |
Statements of Changes in Net Assets (continued)
iShares | ||||||||||||
US & Intl High Yield Corp Bond ETF | ||||||||||||
Six Months Ended 04/30/21 | Year Ended 10/31/20 | |||||||||||
| ||||||||||||
INCREASE (DECREASE) IN NET ASSETS | ||||||||||||
OPERATIONS | ||||||||||||
Net investment income | $ | 3,918,340 | $ | 7,844,089 | ||||||||
Net realized gain (loss) | 882,370 | (7,432,624 | ) | |||||||||
Net change in unrealized appreciation (depreciation) | 9,872,391 | (56,278 | ) | |||||||||
|
|
|
| |||||||||
Net increase in net assets resulting from operations | 14,673,101 | 355,187 | ||||||||||
|
|
|
| |||||||||
DISTRIBUTIONS TO SHAREHOLDERS(a) | ||||||||||||
Decrease in net assets resulting from distributions to shareholders | (4,354,796 | ) | (7,407,517 | ) | ||||||||
|
|
|
| |||||||||
CAPITAL SHARE TRANSACTIONS | ||||||||||||
Net increase in net assets derived from capital share transactions | — | 7,603,062 | ||||||||||
|
|
|
| |||||||||
NET ASSETS | ||||||||||||
Total increase in net assets | 10,318,305 | 550,732 | ||||||||||
Beginning of period | 176,851,033 | 176,300,301 | ||||||||||
|
|
|
| |||||||||
End of period | $ | 187,169,338 | $ | 176,851,033 | ||||||||
|
|
|
|
(a) | Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
See notes to financial statements.
FINANCIAL STATEMENTS | 67 |
(For a share outstanding throughout each period)
iShares International High Yield Bond ETF |
| |||||||||||||||||||||||||||||||||||||||||||||||
| ||||||||||||||||||||||||||||||||||||||||||||||||
Six Months Ended 04/30/21 |
| Year Ended | Year Ended | Year Ended | Year Ended | Year Ended | ||||||||||||||||||||||||||||||||||||||||||
(unaudited) |
| 10/31/20 | 10/31/19 | 10/31/18 | 10/31/17 | 10/31/16 | ||||||||||||||||||||||||||||||||||||||||||
| ||||||||||||||||||||||||||||||||||||||||||||||||
Net asset value, beginning of period | $ | 51.94 | $ | 51.05 | $ | 50.66 | $ | 53.04 | $ | 46.91 | $ | 46.44 | ||||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||||||||||||||||||||||
Net investment income(a) | 0.74 | 1.42 | 1.51 | 1.54 | 1.77 | 1.82 | ||||||||||||||||||||||||||||||||||||||||||
Net realized and unrealized gain (loss)(b) | 4.73 | 0.09 | 0.82 | (3.92 | ) | 4.85 | (0.47 | ) | ||||||||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||||||||||||||||||||||
Net increase (decrease) from investment operations | 5.47 | 1.51 | 2.33 | (2.38 | ) | 6.62 | 1.35 | |||||||||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||||||||||||||||||||||
Distributions(c) | ||||||||||||||||||||||||||||||||||||||||||||||||
From net investment income | (0.82 | ) | (0.62 | ) | (1.94 | ) | — | (0.40 | ) | (0.26 | ) | |||||||||||||||||||||||||||||||||||||
Return of capital | — | — | — | — | (0.09 | ) | (0.62 | ) | ||||||||||||||||||||||||||||||||||||||||
|
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|
|
|
|
|
|
|
|
|
| |||||||||||||||||||||||||||||||||||||
Total distributions | (0.82 | ) | (0.62 | ) | (1.94 | ) | — | (0.49 | ) | (0.88 | ) | |||||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||||||||||||||||||||||
Net asset value, end of period | $ | 56.59 | $ | 51.94 | $ | 51.05 | $ | 50.66 | $ | 53.04 | $ | 46.91 | ||||||||||||||||||||||||||||||||||||
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|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||||||||||||||||||||||
Total Return | ||||||||||||||||||||||||||||||||||||||||||||||||
Based on net asset value | 10.52 | %(d) | 3.00 | % | 4.85 | % | (4.49 | )% | 14.21 | % | 2.95 | % | ||||||||||||||||||||||||||||||||||||
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|
|
| |||||||||||||||||||||||||||||||||||||
Ratios to Average Net Assets | ||||||||||||||||||||||||||||||||||||||||||||||||
Total expenses | 0.40 | %(e) | 0.40 | % | 0.40 | % | 0.40 | % | 0.40 | % | 0.51 | % | ||||||||||||||||||||||||||||||||||||
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|
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|
|
| |||||||||||||||||||||||||||||||||||||
Total expenses after fees waived | 0.40 | %(e) | 0.40 | % | 0.40 | % | 0.40 | % | 0.40 | % | 0.40 | % | ||||||||||||||||||||||||||||||||||||
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|
| |||||||||||||||||||||||||||||||||||||
Net investment income | 2.67 | %(e) | 2.85 | % | 3.03 | % | 2.87 | % | 3.62 | % | 3.93 | % | ||||||||||||||||||||||||||||||||||||
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| |||||||||||||||||||||||||||||||||||||
Supplemental Data | ||||||||||||||||||||||||||||||||||||||||||||||||
Net assets, end of period (000) | $ | 67,905 | $ | 46,750 | $ | 40,838 | $ | 65,858 | $ | 90,160 | $ | 154,796 | ||||||||||||||||||||||||||||||||||||
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|
|
| |||||||||||||||||||||||||||||||||||||
Portfolio turnover rate(f) | 21 | %(d) | 46 | % | 34 | % | 31 | % | 49 | % | 24 | % | ||||||||||||||||||||||||||||||||||||
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|
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|
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|
|
(a) | Based on average shares outstanding. |
(b) | The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share transactions in relation to the fluctuating market values of the Fund’s underlying securities. |
(c) | Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
(d) | Not annualized. |
(e) | Annualized. |
(f) | Portfolio turnover rate excludes in-kind transactions. |
See notes to financial statements.
68 | 2 0 2 1 I SHARES SEMI - ANNUAL REPORT TO SHAREHOLDERS |
Financial Highlights (continued)
(For a share outstanding throughout each period)
iShares J.P. Morgan EM Corporate Bond ETF | ||||||||||||||||||||||||||||||||||||||||||||||||
| ||||||||||||||||||||||||||||||||||||||||||||||||
Six Months Ended 04/30/21 |
| Year Ended | Year Ended | Year Ended | Year Ended | Year Ended | ||||||||||||||||||||||||||||||||||||||||||
(unaudited) |
| 10/31/20 | 10/31/19 | 10/31/18 | 10/31/17 | 10/31/16 | ||||||||||||||||||||||||||||||||||||||||||
| ||||||||||||||||||||||||||||||||||||||||||||||||
Net asset value, beginning of period | $ | 51.13 | $ | 51.29 | $ | 47.68 | $ | 51.33 | $ | 50.40 | $ | 48.21 | ||||||||||||||||||||||||||||||||||||
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| |||||||||||||||||||||||||||||||||||||
Net investment income(a) | 0.91 | 2.06 | 2.25 | 2.16 | 2.10 | 2.19 | ||||||||||||||||||||||||||||||||||||||||||
Net realized and unrealized gain (loss)(b) | 0.67 | (0.13 | ) | 3.61 | (3.70 | ) | 0.90 | 2.18 | ||||||||||||||||||||||||||||||||||||||||
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| |||||||||||||||||||||||||||||||||||||
Net increase (decrease) from investment operations | 1.58 | 1.93 | 5.86 | (1.54 | ) | 3.00 | 4.37 | |||||||||||||||||||||||||||||||||||||||||
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| |||||||||||||||||||||||||||||||||||||
Distributions(c) | ||||||||||||||||||||||||||||||||||||||||||||||||
From net investment income | (0.93 | ) | (2.09 | ) | (2.25 | ) | (2.11 | ) | (2.07 | ) | (2.18 | ) | ||||||||||||||||||||||||||||||||||||
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| |||||||||||||||||||||||||||||||||||||
Total distributions | (0.93 | ) | (2.09 | ) | (2.25 | ) | (2.11 | ) | (2.07 | ) | (2.18 | ) | ||||||||||||||||||||||||||||||||||||
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|
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|
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| |||||||||||||||||||||||||||||||||||||
Net asset value, end of period |
| $ | 51.78 | $ | 51.13 | $ | 51.29 | $ | 47.68 | $ | 51.33 | $ | 50.40 | |||||||||||||||||||||||||||||||||||
|
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|
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| |||||||||||||||||||||||||||||||||||||
Total Return | ||||||||||||||||||||||||||||||||||||||||||||||||
Based on net asset value | 3.10 | %(d) | 3.94 | % | 12.57 | % | (3.09 | )% | 6.14 | % | 9.33 | % | ||||||||||||||||||||||||||||||||||||
|
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|
|
| |||||||||||||||||||||||||||||||||||||
Ratios to Average Net Assets | ||||||||||||||||||||||||||||||||||||||||||||||||
Total expenses | 0.50 | %(e) | 0.50 | % | 0.50 | % | 0.50 | % | 0.50 | % | 0.50 | % | ||||||||||||||||||||||||||||||||||||
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|
|
|
|
|
|
| |||||||||||||||||||||||||||||||||||||
Net investment income | 3.51 | %(e) | 4.08 | % | 4.51 | % | 4.37 | % | 4.16 | % | 4.51 | % | ||||||||||||||||||||||||||||||||||||
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| |||||||||||||||||||||||||||||||||||||
Supplemental Data | ||||||||||||||||||||||||||||||||||||||||||||||||
Net assets, end of period (000) | $ | 349,486 | $ | 214,731 | $ | 166,685 | $ | 71,515 | $ | 87,269 | $ | 32,758 | ||||||||||||||||||||||||||||||||||||
|
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|
|
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|
|
|
|
|
|
| |||||||||||||||||||||||||||||||||||||
Portfolio turnover rate(f) | 8 | %(d) | 25 | % | 21 | % | 16 | % | 62 | % | 22 | % | ||||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
(a) | Based on average shares outstanding. |
(b) | The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share transactions in relation to the fluctuating market values of the Fund’s underlying securities. |
(c) | Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
(d) | Not annualized. |
(e) | Annualized. |
(f) | Portfolio turnover rate excludes in-kind transactions. |
See notes to financial statements.
FINANCIAL HIGHLIGHTS | 69 |
Financial Highlights (continued)
(For a share outstanding throughout each period)
iShares J.P. Morgan EM High Yield Bond ETF | ||||||||||||||||||||||||||||||||||||
| ||||||||||||||||||||||||||||||||||||
Six Months Ended |
| |||||||||||||||||||||||||||||||||||
04/30/21 |
| Year Ended |
| Year Ended |
| Year Ended |
| Year Ended |
| Year Ended |
| |||||||||||||||||||||||||
(unaudited) | 10/31/20 | 10/31/19 | 10/31/18 | 10/31/17 | 10/31/16 | |||||||||||||||||||||||||||||||
| ||||||||||||||||||||||||||||||||||||
Net asset value, beginning of period | $ | 43.06 | $ | 46.63 | $ | 45.29 | $ | 50.60 | $ | 49.97 | $ | 46.82 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||||||||||
Net investment income(a) | 1.24 | 2.52 | 2.66 | 2.44 | 2.87 | 3.03 | ||||||||||||||||||||||||||||||
Net realized and unrealized gain | 2.18 | (3.54 | ) | 1.93 | (5.40 | ) | 0.77 | 3.25 | ||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||||||||||
Net increase (decrease) from investment operations | 3.42 | (1.02 | ) | 4.59 | (2.96 | ) | 3.64 | 6.28 | ||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||||||||||
Distributions(c) | ||||||||||||||||||||||||||||||||||||
From net investment income | (1.37 | ) | (2.55 | ) | (3.25 | ) | (2.35 | ) | (3.01 | ) | (3.13 | ) | ||||||||||||||||||||||||
|
|
|
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|
|
|
|
|
|
|
| |||||||||||||||||||||||||
Total distributions | (1.37 | ) | (2.55 | ) | (3.25 | ) | (2.35 | ) | (3.01 | ) | (3.13 | ) | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||||||||||
Net asset value, end of period | $ | 45.11 | $ | 43.06 | $ | 46.63 | $ | 45.29 | $ | 50.60 | $ | 49.97 | ||||||||||||||||||||||||
|
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|
|
|
|
|
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|
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| |||||||||||||||||||||||||
Total Return | ||||||||||||||||||||||||||||||||||||
Based on net asset value | 7.98 | %(d) | (2.08 | )% | 10.51 | % | (5.96 | )%(e) | 7.60 | % | 14.02 | % | ||||||||||||||||||||||||
|
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|
|
|
|
|
|
|
|
| |||||||||||||||||||||||||
Ratios to Average Net Assets | ||||||||||||||||||||||||||||||||||||
Total expenses | 0.50 | %(f) | 0.50 | % | 0.50 | % | 0.50 | % | 0.50 | % | 0.50 | % | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||||||||||
Total expenses after fees waived | 0.48 | %(f) | 0.48 | % | 0.50 | % | 0.50 | % | 0.50 | % | 0.50 | % | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||||||||||
Net investment income | 5.54 | %(f) | 5.75 | % | 5.75 | % | 5.11 | % | 5.73 | % | 6.35 | % | ||||||||||||||||||||||||
|
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|
|
|
|
|
|
|
| |||||||||||||||||||||||||
Supplemental Data | ||||||||||||||||||||||||||||||||||||
Net assets, end of period (000) | $ | 408,213 | $ | 303,584 | $ | 333,378 | $ | 398,541 | $ | 624,867 | $ | 107,431 | ||||||||||||||||||||||||
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|
|
|
|
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|
| |||||||||||||||||||||||||
Portfolio turnover rate(g) | 13 | %(d) | 65 | % | 32 | % | 19 | % | 25 | % | 29 | % | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
(a) | Based on average shares outstanding. |
(b) | The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share transactions in relation to the fluctuating market values of the Fund’s underlying securities. |
(c) | Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
(d) | Not annualized. |
(e) | Includes payment received from an affiliate, which had no impact on the Fund’s total return. |
(f) | Annualized. |
(g) | Portfolio turnover rate excludes in-kind transactions. |
See notes to financial statements.
70 | 2 0 2 1 I SHARES SEMI - ANNUAL REPORT TO SHAREHOLDERS |
Financial Highlights (continued)
(For a share outstanding throughout each period)
| iShares J.P. Morgan EM Local Currency Bond ETF |
| ||||||||||||||||||||||||||||||||||||
|
| |||||||||||||||||||||||||||||||||||||
| Six Months Ended 04/30/21 |
| Year Ended |
| Year Ended |
| Year Ended |
| Year Ended |
| Year Ended |
| ||||||||||||||||||||||||||
(unaudited) | 10/31/20 | 10/31/19 | 10/31/18 | 10/31/17 | 10/31/16 | |||||||||||||||||||||||||||||||||
| ||||||||||||||||||||||||||||||||||||||
Net asset value, beginning of period | $ | 41.68 | $ | 45.43 | $ | 43.24 | $ | 46.85 | $ | 45.14 | $ | 41.31 | ||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||||||||||||
Net investment income(a) | 1.03 | 2.29 | 3.09 | 2.87 | 2.29 | 1.94 | ||||||||||||||||||||||||||||||||
Net realized and unrealized gain (loss)(b) | 0.54 | (4.11 | ) | 0.59 | (6.48 | ) | (0.58 | ) | 1.89 | |||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||||||||||||
Net increase (decrease) from investment operations | 1.57 | (1.82 | ) | 3.68 | (3.61 | ) | 1.71 | 3.83 | ||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||||||||||||
Distributions(c) | ||||||||||||||||||||||||||||||||||||||
From net investment income | — | (1.93 | ) | (1.49 | ) | — | — | — | ||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||||||||||||
Total distributions | — | (1.93 | ) | (1.49 | ) | — | — | — | ||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||||||||||||
Net asset value, end of period | $ | 43.25 | $ | 41.68 | $ | 45.43 | $ | 43.24 | $ | 46.85 | $ | 45.14 | ||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||||||||||||
Total Return | ||||||||||||||||||||||||||||||||||||||
Based on net asset value | 3.79 | %(d) | (4.20 | )% | 8.75 | % | (7.71 | )% | 3.79 | % | 9.06 | %(e) | ||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||||||||||||
Ratios to Average Net Assets | ||||||||||||||||||||||||||||||||||||||
Total expenses | 0.30 | %(f) | 0.30 | % | 0.30 | % | 0.42 | % | 0.50 | % | 0.50 | % | ||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||||||||||||
Total expenses after fees waived | 0.30 | %(f) | 0.30 | % | 0.30 | % | 0.41 | % | 0.50 | % | 0.50 | % | ||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||||||||||||
Net investment income | 4.72 | %(f) | 5.46 | % | 6.95 | % | 6.19 | % | 5.04 | % | 4.56 | % | ||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||||||||||||
Supplemental Data | ||||||||||||||||||||||||||||||||||||||
Net assets, end of period (000) | $ | 484,347 | $ | 500,100 | $ | 536,078 | $ | 423,732 | $ | 309,217 | $ | 451,410 | ||||||||||||||||||||||||||
|
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|
|
|
|
|
|
|
|
| |||||||||||||||||||||||||||
Portfolio turnover rate(g) | 17 | %(d) | 43 | % | 44 | % | 51 | % | 97 | % | 59 | % | ||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
(a) | Based on average shares outstanding. |
(b) | The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share transactions in relation to the fluctuating market values of the Fund’s underlying securities. |
(c) | Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
(d) | Not annualized. |
(e) | The total return disclosed is based on the net asset value (“NAV”) calculated daily for the creation and redemption of shares in the Fund, which may differ from the NAV calculated for financial reporting purposes. Based on the NAV calculated for financial reporting purposes, the total return for the year ended October 31, 2016 was 9.27%. |
(f) | Annualized. |
(g) | Portfolio turnover rate excludes in-kind transactions. |
See notes to financial statements.
FINANCIAL HIGHLIGHTS | 71 |
Financial Highlights (continued)
(For a share outstanding throughout each period)
iShares US & Intl High Yield Corp Bond ETF |
| |||||||||||||||||||||||||||||||||||
| ||||||||||||||||||||||||||||||||||||
Six Months Ended |
| |||||||||||||||||||||||||||||||||||
04/30/21 |
| Year Ended |
| Year Ended |
| Year Ended |
| Year Ended |
| Year Ended |
| |||||||||||||||||||||||||
(unaudited) |
| 10/31/20 | 10/31/19 | 10/31/18 | 10/31/17 | 10/31/16 | ||||||||||||||||||||||||||||||
| ||||||||||||||||||||||||||||||||||||
Net asset value, beginning of period | $ | 47.80 | $ | 48.97 | $ | 48.03 | $ | 50.98 | $ | 48.77 | $ | 47.57 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||||||||||
Net investment income(a) | 1.06 | 2.21 | 2.42 | 2.46 | 2.45 | 2.55 | ||||||||||||||||||||||||||||||
Net realized and unrealized gain (loss)(b) | 2.91 | (1.27 | ) | 1.17 | (2.80 | ) | 2.08 | 0.57 | ||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||||||||||
Net increase (decrease) from investment operations | 3.97 | 0.94 | 3.59 | (0.34 | ) | 4.53 | 3.12 | |||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||||||||||
Distributions(c) | ||||||||||||||||||||||||||||||||||||
From net investment income | (1.18 | ) | (2.11 | ) | (2.65 | ) | (2.61 | ) | (2.32 | ) | (1.92 | ) | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||||||||||
Total distributions | (1.18 | ) | (2.11 | ) | (2.65 | ) | (2.61 | ) | (2.32 | ) | (1.92 | ) | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||||||||||
Net asset value, end of period | $ | 50.59 | $ | 47.80 | $ | 48.97 | $ | 48.03 | $ | 50.98 | $ | 48.77 | ||||||||||||||||||||||||
|
|
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|
|
|
|
|
|
|
|
| |||||||||||||||||||||||||
Total Return | ||||||||||||||||||||||||||||||||||||
Based on net asset value | 8.37 | %(d) | 2.04 | % | 7.74 | % | (0.71 | )% | 9.58 | % | 6.82 | % | ||||||||||||||||||||||||
|
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|
|
|
|
|
|
|
| |||||||||||||||||||||||||
Ratios to Average Net Assets | ||||||||||||||||||||||||||||||||||||
Total expenses | 0.40 | %(e) | 0.40 | % | 0.40 | % | 0.40 | % | 0.40 | % | 0.51 | % | ||||||||||||||||||||||||
|
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|
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|
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| |||||||||||||||||||||||||
Total expenses after fees waived | 0.40 | %(e) | 0.40 | % | 0.40 | % | 0.40 | % | 0.40 | % | 0.40 | % | ||||||||||||||||||||||||
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Net investment income | 4.26 | %(e) | 4.65 | % | 5.02 | % | 4.95 | % | 4.93 | % | 5.44 | % | ||||||||||||||||||||||||
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Supplemental Data | ||||||||||||||||||||||||||||||||||||
Net assets, end of period (000) | $ | 187,169 | $ | 176,851 | $ | 176,300 | $ | 211,353 | $ | 214,103 | $ | 97,547 | ||||||||||||||||||||||||
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Portfolio turnover rate(f) | 16 | %(d) | 33 | % | 24 | % | 20 | % | 22 | % | 24 | % | ||||||||||||||||||||||||
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(a) | Based on average shares outstanding. |
(b) | The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share transactions in relation to the fluctuating market values of the Fund’s underlying securities. |
(c) | Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
(d) | Not annualized. |
(e) | Annualized. |
(f) | Portfolio turnover rate excludes in-kind transactions. |
See notes to financial statements.
72 | 2 0 2 1 I SHARES SEMI - ANNUAL REPORT TO SHAREHOLDERS |
Notes to Financial Statements (unaudited)
1. | ORGANIZATION |
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 is organized as a Maryland corporation and is authorized to have multiple series or portfolios.
These financial statements relate only to the following funds (each, a “Fund,” and collectively, the “Funds”):
iShares ETF | Diversification Classification | |||
International High Yield Bond | Diversified | |||
J.P. Morgan EM Corporate Bond | Diversified | |||
J.P. Morgan EM High Yield Bond | Non-diversified | |||
J.P. Morgan EM Local Currency Bond | Non-diversified | |||
US & Intl High Yield Corp Bond | Diversified |
2. | SIGNIFICANT ACCOUNTING POLICIES |
The financial statements are prepared in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”), which may require management to make estimates and assumptions that affect the reported amounts of assets and liabilities in the financial statements, disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of increases and decreases in net assets from operations during the reporting period. Actual results could differ from those estimates. Each Fund is considered an investment company under U.S. GAAP and follows the accounting and reporting guidance applicable to investment companies. Below is a summary of significant accounting policies:
Investment Transactions and Income Recognition: For financial reporting purposes, investment transactions are recorded on the dates the transactions are executed. Realized gains and losses on investment transactions are determined using the specific identification method. Dividend income and capital gain distributions, if any, are recorded on the ex-dividend date. Non-cash dividends, if any, are recorded on the ex-dividend date at fair value. Dividends from foreign securities where the ex-dividend date may have passed are subsequently recorded when the Funds are informed of the ex-dividend date. Under the applicable foreign tax laws, a withholding tax at various rates may be imposed on capital gains, dividends and interest. Interest income, including amortization and accretion of premiums and discounts on debt securities, and payment-in-kind interest are recognized daily on an accrual basis.
Foreign Currency Translation: Each Fund’s books and records are maintained in U.S. dollars. Securities and other assets and liabilities denominated in foreign currencies are translated into U.S. dollars using prevailing market rates as quoted by one or more data service providers. Purchases and sales of investments are recorded at the rates of exchange prevailing on the respective dates of such transactions. Generally, when the U.S. dollar rises in value against a foreign currency, the investments denominated in that currency will lose value; the opposite effect occurs if the U.S. dollar falls in relative value.
Each Fund does not isolate the effect of fluctuations in foreign exchange rates from the effect of fluctuations in the market prices of investments for financial reporting purposes. Accordingly, the effects of changes in exchange rates on investments are not segregated in the statement of operations from the effects of changes in market prices of those investments, but are included as a component of net realized and unrealized gain (loss) from investments. Each Fund reports realized currency gains (losses) on foreign currency related transactions as components of net realized gain (loss) for financial reporting purposes, whereas such components are generally treated as ordinary income for U.S. federal income tax purposes.
Foreign Taxes: The Funds may be subject to foreign taxes (a portion of which may be reclaimable) on income, stock dividends, capital gains on investments, or certain foreign currency transactions. All foreign taxes are recorded in accordance with the applicable foreign tax regulations and rates that exist in the foreign jurisdictions in which each Fund invests. These foreign taxes, if any, are paid by each Fund and are reflected in its statement 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, 2021, if any, are disclosed in the statement of assets and liabilities.
The Funds file withholding tax reclaims in certain jurisdictions to recover a portion of amounts previously withheld. The Funds may record a reclaim receivable based on collectability, which includes factors such as the jurisdiction’s applicable laws, payment history and market convention. The statement of operations includes tax reclaims recorded as well as professional and other fees, if any, associated with recovery of foreign withholding taxes.
In-kind Redemptions: For financial reporting purposes, in-kind redemptions are treated as sales of securities resulting in realized capital gains or losses to the Funds. Because such gains or losses are not taxable to the Funds and are not distributed to existing Fund shareholders, the gains or losses are reclassified from accumulated net realized gain (loss) to paid-in capital at the end of the Funds’ tax year. These reclassifications have no effect on net assets or net asset value (“NAV”) per share.
Distributions: Dividends and distributions paid by each Fund are recorded on the ex-dividend dates. Distributions are determined on a tax basis and may differ from net investment income and net realized capital gains for financial reporting purposes. Dividends and distributions are paid in U.S. dollars and cannot be automatically reinvested in additional shares of the Funds. The character and timing of distributions are determined in accordance with U.S. federal income tax regulations, which may differ from U.S. GAAP.
NOTES TO FINANCIAL STATEMENTS | 73 |
Notes to Financial Statements (unaudited) (continued)
Indemnifications: In the normal course of business, each Fund enters into contracts that contain a variety of representations that provide general indemnification. The Funds’ maximum exposure under these arrangements is unknown because it involves future potential claims against the Funds, which cannot be predicted with any certainty.
3. | INVESTMENT VALUATION AND FAIR VALUE MEASUREMENTS |
Investment Valuation Policies: Each Fund’s investments are valued at fair value (also referred to as “market value” within the financial statements) each day that the Fund’s listing exchange is open and, for financial reporting purposes, as of the report date. U.S. GAAP defines fair value as the price a fund would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. Each Fund determines the fair values of its financial instruments using various independent dealers or pricing services under policies approved by the Board of Directors of the Company (the “Board”). If a security’s market price is not readily available or does not otherwise accurately represent the fair value of the security, the security will be valued in accordance with a policy approved by the Board as reflecting fair value. The BlackRock Global Valuation Methodologies Committee (the “Global Valuation Committee”) is the committee formed by management to develop global pricing policies and procedures and to oversee the pricing function for all financial instruments.
Fair Value Inputs and Methodologies: The following methods and inputs are used to establish the fair value of each Fund’s assets and liabilities:
• | Equity investments traded on a recognized securities exchange are valued at that day’s official closing price, as applicable, on the exchange where the stock is primarily traded. Equity investments traded on a recognized exchange for which there were no sales on that day are valued at the last traded price. |
• | Fixed-income investments for which market quotations are readily available are generally valued using the last available bid price or current market quotations provided by independent dealers or third-party pricing services. Floating rate loan interests are valued at the mean of the bid prices from one or more independent brokers or dealers as obtained from a third party pricing service. Pricing services generally value fixed income securities assuming orderly transactions of an institutional round lot size, but a fund may hold or transact in such securities in smaller, odd lot sizes. Odd lots may trade at lower prices than institutional round lots. The pricing services may use matrix pricing or valuation models that utilize certain inputs and assumptions to derive values, including transaction data (e.g., recent representative bids and offers), market data, credit quality information, perceived market movements, news, and other relevant information. Certain fixed-income securities, including asset-backed and mortgage related securities may be valued based on valuation models that consider the estimated cash flows of each tranche of the entity, establish a benchmark yield and develop an estimated tranche specific spread to the benchmark yield based on the unique attributes of the tranche. The amortized cost method of valuation may be used with respect to debt obligations with sixty days or less remaining to maturity unless the Manager determines such method does not represent fair value. |
• | Investments in open-end U.S. mutual funds (including money market funds) are valued at that day’s published NAV. |
If events (e.g., a market closure, market volatility, company announcement or a natural disaster) occur that are expected to materially affect the value of such investment, or in the event that application of these methods of valuation results in a price for an investment that is deemed not to be representative of the market value of such investment, or if a price is not available, the investment will be valued by the Global Valuation Committee, in accordance with a policy approved by the Board as reflecting fair value (“Fair Valued Investments”). The fair valuation approaches that may be used by the Global Valuation Committee include market approach, income approach and cost approach. Valuation techniques such as discounted cash flow, use of market comparables and matrix pricing are types of valuation approaches and are typically used in determining fair value. When determining the price for Fair Valued Investments, the Global Valuation Committee, or its delegate, seeks to determine the price that each Fund might reasonably expect to receive or pay from the current sale or purchase of that asset or liability in an arm’s-length transaction. Fair value determinations shall be based upon all available factors that the Global Valuation Committee, or its delegate, deems relevant and consistent with the principles of fair value measurement. The pricing of all Fair Valued Investments is subsequently reported to the Board or a committee thereof on a quarterly basis.
Fair value pricing could result in a difference between the prices used to calculate a fund’s NAV and the prices used by the fund’s underlying index, which in turn could result in a difference between the fund’s performance and the performance of the fund’s underlying index.
Fair Value Hierarchy: Various inputs are used in determining the fair value of financial instruments. These inputs to valuation techniques are categorized into a fair value hierarchy consisting of three broad levels for financial reporting purposes as follows:
• | Level 1 – Unadjusted price quotations in active markets/exchanges for identical assets or liabilities that each Fund has the ability to access; |
• | Level 2 – Other observable inputs (including, but not limited to, quoted prices for similar assets or liabilities in markets that are active, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the assets or liabilities (such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks and default rates) or other market-corroborated inputs); and |
• | Level 3 – Unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are not available, (including the Global Valuation Committee’s assumptions used in determining the fair value of financial instruments). |
The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in Level 3. The inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the fair value hierarchy classification is determined based on the lowest level input that is significant to the fair value measurement in its entirety. Investments classified within Level 3 have significant unobservable inputs used by the Global Valuation Committee in determining the price for Fair Valued Investments. Level 3 investments include equity or debt issued by privately held companies or funds that may not have a secondary market and/or may have a limited number of investors. The categorization of a value determined for financial instruments is based on the pricing transparency of the financial instruments and is not necessarily an indication of the risks associated with investing in those securities.
74 | 2 0 2 1 I SHARES SEMI - ANNUAL REPORT TO SHAREHOLDERS |
Notes to Financial Statements (unaudited) (continued)
4. | SECURITIES AND OTHER INVESTMENTS |
Zero-Coupon Bonds: Zero-coupon bonds are normally issued at a significant discount from face value and do not provide for periodic interest payments. These bonds may experience greater volatility in market value than other debt obligations of similar maturity which provide for regular interest payments.
Securities Lending: Each Fund may lend its securities to approved borrowers, such as brokers, dealers and other financial institutions. The borrower pledges and maintains with the Fund collateral consisting of cash, an irrevocable letter of credit issued by an approved bank, or securities issued or guaranteed by the U.S. government. The initial collateral received by each Fund is required to have a value of at least 102% of the current market value of the loaned securities for securities traded on U.S. exchanges and a value of at least 105% for all other securities. The collateral is maintained thereafter at a value equal to at least 100% of the current value of the securities on loan. The market value of the loaned securities is determined at the close of each business day of the Fund and any additional required collateral is delivered to the Fund or excess collateral is returned by the Fund, on the next business day. During the term of the loan, each Fund is entitled to all distributions made on or in respect of the loaned securities but does not receive interest income on securities received as collateral. Loans of securities are terminable at any time and the borrower, after notice, is required to return borrowed securities within the standard time period for settlement of securities transactions.
As of period end, any securities on loan were collateralized by cash and/or U.S. Government obligations. Cash collateral invested in money market funds managed by BlackRock Fund Advisors (“BFA”), the Funds’ investment adviser, or its affiliates is disclosed in the schedules of investments. Any non-cash collateral received cannot be sold, re-invested or pledged by the Fund, except in the event of borrower default. The securities on loan, if any, are also disclosed in each Fund’s schedule of investments. The market value of any securities on loan and the value of any related cash collateral are disclosed in the statements of assets and liabilities.
Securities lending transactions are entered into by the Funds under Master Securities Lending Agreements (each, an “MSLA”) which provide the right, in the event of default (including bankruptcy or insolvency) for the non-defaulting party to liquidate the collateral and calculate a net exposure to the defaulting party or request additional collateral. In the event that a borrower defaults, the Funds, as lender, would offset the market value of the collateral received against the market value of the securities loaned. When the value of the collateral is greater than that of the market value of the securities loaned, the lender is left with a net amount payable to the defaulting party. However, bankruptcy or insolvency laws of a particular jurisdiction may impose restrictions on or prohibitions against such a right of offset in the event of an MSLA counterparty’s bankruptcy or insolvency. Under the MSLA, absent an event of default, the borrower can resell or re-pledge the loaned securities, and the Funds can reinvest cash collateral received in connection with loaned securities. Upon an event of default, the parties’ obligations to return the securities or collateral to the other party are extinguished, and the parties can resell or re-pledge the loaned securities or the collateral received in connection with the loaned securities in order to satisfy the defaulting party’s net payment obligation for all transactions under the MSLA. The defaulting party remains liable for any deficiency.
As of period end, the following table is a summary of the securities on loan by counterparty which are subject to offset under an MSLA:
| ||||||||||||||||
iShares ETF and Counterparty | | Market Value of Securities on Loan |
| | Cash Collateral Received | (a) | | Non-Cash Collateral Received |
| Net Amount | ||||||
| ||||||||||||||||
J.P. Morgan EM Corporate Bond | ||||||||||||||||
Barclays Bank PLC | $ | 1,934,292 | $ | 1,934,292 | $ | — | $ | — | ||||||||
Barclays Capital Inc. | 2,379,614 | 2,379,614 | — | — | ||||||||||||
BofA Securities, Inc. | 1,763,528 | 1,763,528 | — | — | ||||||||||||
Citigroup Global Markets Inc. | 2,493,800 | 2,493,800 | — | — | ||||||||||||
Credit Suisse Securities (USA) LLC | 792,044 | 792,044 | — | — | ||||||||||||
HSBC Securities (USA) Inc. | 969,818 | 969,818 | — | — | ||||||||||||
Jefferies LLC | 2,810,725 | 2,810,725 | — | — | ||||||||||||
JPMorgan Securities LLC | 3,204,015 | 3,204,015 | — | — | ||||||||||||
Morgan Stanley & Co. LLC | 410,621 | 410,621 | — | — | ||||||||||||
Nomura Securities International Inc. | 210,686 | 210,686 | — | — | ||||||||||||
Pershing LLC | 893,933 | 893,933 | — | — | ||||||||||||
Scotia Capital (USA) Inc. | 512,908 | 512,908 | — | — | ||||||||||||
UBS AG | 751,138 | 751,138 | — | — | ||||||||||||
Wells Fargo Securities LLC | 2,704,326 | 2,704,326 | — | — | ||||||||||||
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$ | 21,831,448 | $ | 21,831,448 | $ | — | $ | — | |||||||||
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NOTES TO FINANCIAL STATEMENTS | 75 |
Notes to Financial Statements (unaudited) (continued)
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iShares ETF and Counterparty | | Market Value of Securitieson Loan | | | Cash Collateral Received | (a) | | Non-Cash Collateral Received | | Net Amount | ||||||
| ||||||||||||||||
J.P. Morgan EM High Yield Bond | ||||||||||||||||
BARCLAYS BANK PLC | $ | 4,449,263 | $ | 4,449,263 | $ | — | $ | — | ||||||||
BNP PARIBAS PRIME BROKERAGE INTERNATIONAL LIMITED | 2,598,907 | 2,598,907 | — | — | ||||||||||||
BofA Securities, Inc. | 3,653,660 | 3,653,660 | — | — | ||||||||||||
Citigroup Global Markets Inc. | 4,211,587 | 4,211,587 | — | — | ||||||||||||
Credit Suisse Securities (USA) LLC | 2,445,254 | 2,427,132 | — | (18,122 | )(b) | |||||||||||
Goldman Sachs & Co. | 1,497,308 | 1,497,308 | — | — | ||||||||||||
Jefferies LLC | 4,321,661 | 4,321,661 | — | — | ||||||||||||
Morgan Stanley & Co. LLC | 4,278,653 | 4,278,653 | — | — | ||||||||||||
Nomura Securities International Inc. | 321,301 | 321,301 | — | — | ||||||||||||
Pershing LLC | 207,195 | 207,195 | — | — | ||||||||||||
UBS AG | 1,952 | 1,952 | — | — | ||||||||||||
Wells Fargo Securities LLC | 221,693 | 221,693 | — | — | ||||||||||||
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$ | 28,208,434 | $ | 28,190,312 | $ | — | $ | (18,122 | ) | ||||||||
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US & Intl High Yield Corp Bond | ||||||||||||||||
Barclays Bank PLC | $ | 1,974,241 | $ | 1,974,241 | $ | — | $ | — | ||||||||
Barclays Capital Inc. | 619,541 | 619,541 | — | — | ||||||||||||
BNP Paribas Prime Brokerage International Ltd. | 2,110,152 | 2,110,152 | — | — | ||||||||||||
BofA Securities, Inc. | 212,054 | 212,054 | — | — | ||||||||||||
Citadel Clearing LLC | 268,866 | 268,866 | — | — | ||||||||||||
Citigroup Global Markets Inc. | 347,231 | 347,231 | — | — | ||||||||||||
Credit Suisse Securities (USA) LLC | 928,280 | 928,280 | — | — | ||||||||||||
Goldman Sachs & Co. | 3,972,382 | 3,972,382 | — | — | ||||||||||||
JPMorgan Securities LLC | 3,698,989 | 3,698,989 | — | — | ||||||||||||
Morgan Stanley & Co. LLC | 2,605,720 | 2,605,720 | — | — | ||||||||||||
RBC Capital Markets LLC | 1,551,449 | 1,551,449 | — | — | ||||||||||||
Wells Fargo Bank, National Association | 69,763 | 69,763 | — | — | ||||||||||||
Wells Fargo Securities LLC | 232,338 | 232,338 | — | — | ||||||||||||
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$ | 18,591,006 | $ | 18,591,006 | $ | — | $ | — | |||||||||
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(a) | Collateral received in excess of the market value of securities on loan is not presented in this table. The total cash collateral received by each Fund is disclosed in the Fund’s statement of assets and liabilities. |
(b) | The market value of the loaned securities is determined as of April 30, 2021. Additional collateral is delivered to the Fund on the next business day in accordance with the MSLA. The net amount would be subject to the borrower default indemnity in the event of default by a counterparty. |
The risks of securities lending include the risk that the borrower may not provide additional collateral when required or may not return the securities when due. To mitigate these risks, each Fund benefits from a borrower default indemnity provided by BlackRock, Inc. (“BlackRock”). BlackRock’s indemnity allows for full replacement of the securities loaned to the extent the collateral received does not cover the value of the securities loaned in the event of borrower default. Each Fund could incur a loss if the value of an investment purchased with cash collateral falls below the market value of the loaned securities or if the value of an investment purchased with cash collateral falls below the value of the original cash collateral received. Such losses are borne entirely by each Fund.
5. | INVESTMENT ADVISORY AGREEMENT AND OTHER TRANSACTIONS WITH AFFILIATES |
Investment Advisory Fees: 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 (i) interest and taxes; (ii) brokerage commissions and other expenses connected with the execution of portfolio transactions; (iii) distribution fees; (iv) the advisory fee payable to BFA; and (v) litigation expenses and any extraordinary expenses (in each case as determined by a majority of the independent directors).
For its investment advisory services to each Fund, BFA is entitled to an annual investment advisory fee, accrued daily and paid monthly by the Funds, based on the average daily net assets of each Fund as follows:
| ||||
iShares ETF | Investment Advisory Fee | |||
| ||||
International High Yield Bond | 0.40% | |||
J.P. Morgan EM Corporate Bond | 0.50 | |||
J.P. Morgan EM High Yield Bond | 0.50 | |||
J.P. Morgan EM Local Currency Bond | 0.30 | |||
US & Intl High Yield Corp Bond | 0.40 | |||
|
76 | 2 0 2 1 I SHARES SEMI - ANNUAL REPORT TO SHAREHOLDERS |
Notes to Financial Statements (unaudited) (continued)
Expense Waivers: BFA may from time to time voluntarily waive and/or reimburse fees or expenses in order to limit total annual fund operating expenses (excluding acquired fund fees and expenses, if any). For the iShares J.P. Morgan EM High Yield Bond ETF, BFA had elected to implement a voluntary fee waiver at an annual rate of 0.03% through March 1, 2021. The voluntary waiver was discontinued after March 1, 2021.
This amount is included in investment advisory fees waived in the Statements of Operations. For the six months ended April 30, 2021, the amounts waived in investment advisory fees pursuant to this arrangement were as follows:
iShares ETF | Amounts waived | |||
J.P. Morgan EM High Yield Bond | $ | 32,907 |
Sub-Adviser: BFA has entered into a sub-advisory agreement with BlackRock International Limited (“BIL”), an affiliate of BFA, under which BFA pays BIL for services it provides to the iShares International High Yield Bond ETF, iShares J.P. Morgan EM Corporate Bond ETF, iShares J.P. Morgan EM High Yield Bond ETF, iShares J.P. Morgan EM Local Currency Bond ETF and iShares US & Intl High Yield Corp Bond ETF. BFA has entered into a separate sub-advisory agreement with BlackRock (Singapore) Limited (“BRS”, together with BlackRock International Limited, the “Sub-Advisers”), both affiliates of BFA, under which BFA pays BRS for services it provides to the iShares J.P. Morgan EM Local Currency Bond ETF.
Distributor: BlackRock Investments, LLC, an affiliate of BFA, is the distributor for each Fund. Pursuant to the distribution agreement, BFA is responsible for any fees or expenses for distribution services provided to the Funds.
Securities Lending: The U.S. Securities and Exchange Commission (the “SEC”) has issued an exemptive order which permits BlackRock Institutional Trust Company, N.A. (“BTC”), an affiliate of BFA, to serve as securities lending agent for the Funds, subject to applicable conditions. As securities lending agent, BTC bears all operational costs directly related to securities lending. Each Fund is responsible for fees in connection with the investment of cash collateral received for securities on loan (the “collateral investment fees”). The cash collateral is invested in a money market fund, BlackRock Cash Funds: Institutional or BlackRock Cash Funds: Treasury, managed by BFA, or its affiliates. However, BTC has agreed to reduce the amount of securities lending income it receives in order to effectively limit the collateral investment fees each Fund bears to an annual rate of 0.04%. The SL Agency Shares of such money market fund will not be subject to a sales load, distribution fee or service fee. The money market fund in which the cash collateral has been invested may, under certain circumstances, impose a liquidity fee of up to 2% of the value redeemed or temporarily restrict redemptions for up to 10 business days during a 90 day period, in the event that the money market fund’s weekly liquid assets fall below certain thresholds.
Securities lending income is equal to the total of income earned from the reinvestment of cash collateral, net of fees and other payments to and from borrowers of securities, and less the collateral investment fees. Each Fund retains a portion of securities lending income and remits the remaining portion to BTC as compensation for its services as securities lending agent.
Pursuant to the current securities lending agreement, each Fund retains 82% of securities lending income (which excludes collateral investment fees), and the amount retained can never be less than 70% of the total of securities lending income plus the collateral investment fees.
In addition, commencing the business day following the date that the aggregate securities lending income plus the collateral investment fees generated across all 1940 Act iShares exchange-traded funds (the “iShares ETF Complex”) in that calendar year exceeds a specified threshold, each Fund, pursuant to the securities lending agreement, will retain for the remainder of that calendar year 85% of securities lending income (which excludes collateral investment fees) and the amount retained can never be less than 70% of the total of securities lending income plus the collateral investment fees.
The share of securities lending income earned by each Fund is shown as securities lending income – affiliated – net in its statement of operations. For the six months ended April 30, 2021, the Funds paid BTC the following amounts for securities lending agent services:
iShares ETF | Fees Paid to BTC | |||
J.P. Morgan EM Corporate Bond | $ | 10,721 | ||
J.P. Morgan EM High Yield Bond | 15,233 | |||
US & Intl High Yield Corp Bond | 7,686 |
Officers and Directors: Certain officers and/or directors of the Company are officers and/or directors of BlackRock or its affiliates.
Other Transactions: Cross trading is the buying or selling of portfolio securities between funds to which BFA (or an affiliate) serves as investment adviser. At its regularly scheduled quarterly meetings, the Board reviews such transactions as of the most recent calendar quarter for compliance with the requirements and restrictions set forth by Rule 17a-7.
For the six months ended April 30, 2021, transactions executed by the Funds pursuant to Rule 17a-7 under the 1940 Act were as follows:
iShares ETF | Purchases | Sales | Net Realized Gain (Loss) | |||||||||
J.P. Morgan EM Corporate Bond | $ | 654,483 | $ | — | $ | — | ||||||
J.P. Morgan EM High Yield Bond | — | 2,052,878 | (116,781 | ) | ||||||||
US & Intl High Yield Corp Bond | 108,254 | 1,913,049 | 133,602 |
NOTES TO FINANCIAL STATEMENTS | 77 |
Notes to Financial Statements (unaudited) (continued)
Each Fund may invest its positive cash balances in certain money market funds managed by BFA or an affiliate. The income earned on these temporary cash investments is shown as dividends – affiliated in the statement of operations.
A fund, in order to improve its portfolio liquidity and its ability to track its underlying index, may invest in shares of other iShares funds that invest in securities in the fund’s underlying index.
6. | PURCHASES AND SALES |
For the six months ended April 30, 2021, purchases and sales of investments, excluding short-term investments and in-kind transactions, were as follows:
iShares ETF | Purchases | Sales | ||||||
International High Yield Bond | $ | 11,993,507 | $ | 11,142,023 | ||||
J.P. Morgan EM Corporate Bond | 27,106,790 | 21,885,227 | ||||||
J.P. Morgan EM High Yield Bond | 43,421,832 | 44,063,446 | ||||||
J.P. Morgan EM Local Currency Bond | 98,395,818 | 84,637,521 | ||||||
US & Intl High Yield Corp Bond | 30,481,229 | 28,683,261 |
For the six months ended April 30, 2021, in-kind transactions were as follows:
iShares ETF | In-kind Purchases | In-kind Sales | ||||||
International High Yield Bond | $ | 16,340,640 | $ | — | ||||
J.P. Morgan EM Corporate Bond | 125,881,608 | — | ||||||
J.P. Morgan EM High Yield Bond | 93,809,829 | 6,372,019 | ||||||
J.P. Morgan EM Local Currency Bond | 19,017,387 | 57,513,095 |
7. | INCOME TAX INFORMATION |
Each Fund is treated as an entity separate from the Company’s other funds for federal income tax purposes. It is each Fund’s policy to comply with the requirements of the Internal Revenue Code of 1986, as amended, applicable to regulated investment companies, and to distribute substantially all of its taxable income to its shareholders. Therefore, no U.S. federal income tax provision is required.
Management has analyzed tax laws and regulations and their application to the Funds as of April 30, 2021, inclusive of the open tax return years, and does not believe that there are any uncertain tax positions that require recognition of a tax liability in the Funds’ financial statements.
As of October 31, 2020, the Funds had non-expiring capital loss carryforwards available to offset future realized capital gains as follows:
iShares ETF | Non-Expiring | |||
International High Yield Bond | $ | 4,965,224 | ||
J.P. Morgan EM Corporate Bond | 1,922,780 | |||
J.P. Morgan EM High Yield Bond | 52,370,224 | |||
J.P. Morgan EM Local Currency Bond | 29,257,942 | |||
US & Intl High Yield Corp Bond | 9,551,833 |
As of April 30, 2021, gross unrealized appreciation and depreciation based on cost of investments (including short positions and derivatives, if any) for U.S. federal income tax purposes were as follows:
iShares ETF | Tax Cost | Gross Unrealized Appreciation | Gross Unrealized Depreciation | Net Unrealized Appreciation (Depreciation) | ||||||||||||
International High Yield Bond | $ | 63,419,375 | $ | 3,695,208 | $ | (471,876 | ) | $ | 3,223,332 | |||||||
J.P. Morgan EM Corporate Bond | 369,164,067 | 7,748,382 | (4,048,271 | ) | 3,700,111 | |||||||||||
J.P. Morgan EM High Yield Bond | 439,994,275 | 11,247,164 | (16,828,695 | ) | (5,581,531 | ) | ||||||||||
J.P. Morgan EM Local Currency Bond | 497,961,241 | 11,006,194 | (34,700,502 | ) | (23,694,308 | ) | ||||||||||
US & Intl High Yield Corp Bond | 196,561,926 | 9,376,514 | (1,375,166 | ) | 8,001,348 |
8. | LINE OF CREDIT |
The iShares J.P. Morgan EM Local Currency Bond ETF, along with certain other iShares funds (“Participating Funds”), is a party to a $300 million credit agreement (“Credit Agreement”) with State Street Bank and Trust Company, which expires on July 15, 2021. The line of credit may be used for temporary or emergency purposes, including redemptions, settlement of trades and rebalancing of portfolio holdings in certain target markets. The Credit Agreement sets specific sub limits on aggregate borrowings based on two tiers of Participating Funds: $300 million with respect to the funds within Tier 1, including the Fund, and $200 million with respect to Tier 2. The Funds may
78 | 2 0 2 1 I SHARES SEMI - ANNUAL REPORT TO SHAREHOLDERS |
Notes to Financial Statements (unaudited) (continued)
borrow up to the aggregate commitment amount subject to asset coverage and other limitations as specified in the Credit Agreement. The Credit Agreement has the following terms: a commitment fee of 0.20% per annum on the unused portion of the credit agreement and interest at a rate equal to the higher of (a) the one-month LIBOR rate (not less than zero) plus 1.00% per annum or (b) the U.S. Federal Funds rate (not less than zero) plus 1.00% per annum on amounts borrowed. The commitment fee is generally allocated to each Participating Fund based on the lesser of a Participating Fund’s relative exposure to certain target markets or a Participating Fund’s maximum borrowing amount as set forth by the terms of the Credit Agreement.
During the six months ended April 30, 2021, the Fund did not borrow under the credit agreement.
9. | PRINCIPAL RISKS |
In the normal course of business, each Fund invests in securities or other instruments and may enter into certain transactions, and such activities subject the Fund to various risks, including, among others, fluctuations in the market (market risk) or failure of an issuer to meet all of its obligations. The value of securities or other instruments may also be affected by various factors, including, without limitation: (i) the general economy; (ii) the overall market as well as local, regional or global political and/or social instability; (iii) regulation, taxation or international tax treaties between various countries; or (iv) currency, interest rate or price fluctuations. Local, regional or global events such as war, acts of terrorism, the spread of infectious illness or other public health issues, recessions, or other events could have a significant impact on the Funds and their investments. Each Fund’s prospectus provides details of the risks to which the Fund is subject.
BFA uses a “passive” or index approach to try to achieve each Fund’s investment objective following the securities included in its underlying index during upturns as well as downturns. BFA does not take steps to reduce market exposure or to lessen the effects of a declining market. Divergence from the underlying index and the composition of the portfolio is monitored by BFA.
The Funds may be exposed to additional risks when reinvesting cash collateral in money market funds that do not seek to maintain a stable NAV per share of $1.00, which may be subject to redemption gates or liquidity fees under certain circumstances.
Market Risk: Investments in the securities of issuers domiciled in countries with emerging capital markets involve certain additional risks that do not generally apply to investments in securities of issuers in more developed capital markets, such as (i) low or nonexistent trading volume, resulting in a lack of liquidity and increased volatility in prices for such securities; (ii) uncertain national policies and social, political and economic instability, increasing the potential for expropriation of assets, confiscatory taxation, high rates of inflation or unfavorable diplomatic developments; (iii) lack of publicly available or reliable information about issuers as a result of not being subject to the same degree of regulatory requirements and accounting, auditing and financial reporting standards; and (iv) possible fluctuations in exchange rates, differing legal systems and the existence or possible imposition of exchange controls, custodial restrictions or other foreign or U.S. governmental laws or restrictions applicable to such investments.
Each Fund may be exposed to prepayment risk, which is the risk that borrowers may exercise their option to prepay principal earlier than scheduled during periods of declining interest rates, which would force each Fund to reinvest in lower yielding securities. Each Fund may also be exposed to reinvestment risk, which is the risk that income from each Fund’s portfolio will decline if each Fund invests the proceeds from matured, traded or called fixed-income securities at market interest rates that are below each Fund portfolio’s current earnings rate.
An outbreak of respiratory disease caused by a novel coronavirus has developed into a global pandemic and has resulted in closing borders, quarantines, disruptions to supply chains and customer activity, as well as general concern and uncertainty. The impact of this pandemic, and other global health crises that may arise in the future, could affect the economies of many nations, individual companies and the market in general in ways that cannot necessarily be foreseen at the present time. This pandemic may result in substantial market volatility and may adversely impact the prices and liquidity of a fund’s investments. The duration of this pandemic and its effects cannot be determined with certainty.
Valuation Risk: The market values of equities, such as common stocks and preferred securities or equity related investments, such as futures and options, may decline due to general market conditions which are not specifically related to a particular company. They may also decline due to factors which affect a particular industry or industries. A fund may invest in illiquid investments. An illiquid investment is any investment that a fund reasonably expects cannot be sold or disposed of in current market conditions in seven calendar days or less without the sale or disposition significantly changing the market value of the investment. A fund may experience difficulty in selling illiquid investments in a timely manner at the price that it believes the investments are worth. Prices may fluctuate widely over short or extended periods in response to company, market or economic news. Markets also tend to move in cycles, with periods of rising and falling prices. This volatility may cause a fund’s NAV to experience significant increases or decreases over short periods of time. If there is a general decline in the securities and other markets, the NAV of a fund may lose value, regardless of the individual results of the securities and other instruments in which a fund invests.
The price each Fund could receive upon the sale of any particular portfolio investment may differ from each Fund’s valuation of the investment, particularly for securities that trade in thin or volatile markets or that are valued using a fair valuation technique or a price provided by an independent pricing service. Changes to significant unobservable inputs and assumptions (i.e., publicly traded company multiples, growth rate, time to exit) due to the lack of observable inputs.
Counterparty Credit Risk: The Funds may be exposed to counterparty credit risk, or the risk that an entity may fail to or be unable to perform on its commitments related to unsettled or open transactions, including making timely interest and/or principal payments or otherwise honoring its obligations. The Funds manage counterparty credit risk by entering into transactions only with counterparties that the Manager believes have the financial resources to honor their obligations and by monitoring the financial stability of those counterparties. Financial assets, which potentially expose the Funds to market, issuer and counterparty credit risks, consist principally of financial instruments and receivables due from counterparties. The extent of the Funds’ exposure to market, issuer and counterparty credit risks with respect to these financial assets is approximately their value recorded in the statement of assets and liabilities, less any collateral held by the Funds.
NOTES TO FINANCIAL STATEMENTS | 79 |
Notes to Financial Statements (unaudited) (continued)
Concentration Risk: A diversified portfolio, where this is appropriate and consistent with a fund’s objectives, minimizes the risk that a price change of a particular investment will have a material impact on the NAV of a fund. The investment concentrations within each Fund’s portfolio are disclosed in its schedule of investments.
Certain Funds invest a significant portion of their assets in securities of issuers located in Europe or with significant exposure to European issuers or countries. The European financial markets have recently experienced volatility and adverse trends due to concerns about economic downturns in, or rising government debt levels of, several European countries. These events may spread to other countries in Europe and may affect the value and liquidity of certain of the Funds’ investments.
Responses to the financial problems by European governments, central banks and others, including austerity measures and reforms, may not work, may result in social unrest and may limit future growth and economic recovery or have other unintended consequences. Further defaults or restructurings by governments and others of their debt could have additional adverse effects on economies, financial markets and asset valuations around the world. In addition, the United Kingdom has withdrawn from the European Union, and one or more other countries may withdraw from the European Union and/or abandon the Euro, the common currency of the European Union. The impact of these actions, especially if they occur in a disorderly fashion, is not clear but could be significant and far reaching.
Certain Funds invest a significant portion of their assets in securities of issuers located in Asia or with significant exposure to Asian issuers or countries. The Asian financial markets have recently experienced volatility and adverse trends due to concerns in several Asian countries regarding monetary policy, government intervention in the markets, rising government debt levels or economic downturns. These events may spread to other countries in Asia and may affect the value and liquidity of certain of the Funds’ investments.
Certain Funds invest a significant portion of their assets in high yield securities. High yield securities that are rated below investment-grade (commonly referred to as “junk bonds”) or are unrated may be deemed speculative, involve greater levels of risk than higher-rated securities of similar maturity and are more likely to default. High yield securities may be issued by less creditworthy issuers, and issuers of high yield securities may be unable to meet their interest or principal payment obligations. High yield securities are subject to extreme price fluctuations, may be less liquid than higher rated fixed-income securities, even under normal economic conditions, and frequently have redemption features.
The Funds invest a significant portion of their assets in fixed-income securities and/or use derivatives tied to the fixed-income markets. Changes in market interest rates or economic conditions may affect the value and/or liquidity of such investments. Interest rate risk is the risk that prices of bonds and other fixed-income securities will increase as interest rates fall and decrease as interest rates rise. The Funds may be subject to a greater risk of rising interest rates due to the current period of historically low rates.
LIBOR Transition Risk: The United Kingdom’s Financial Conduct Authority announced a phase out of the London Interbank Offered Rate (“LIBOR”). Although many LIBOR rates will be phased out by the end of 2021, a selection of widely used USD LIBOR rates will continue to be published through June 2023 in order to assist with the transition. The Funds may be exposed to financial instruments tied to LIBOR to determine payment obligations, financing terms, hedging strategies or investment value. The transition process away from LIBOR might lead to increased volatility and illiquidity in markets for, and reduce the effectiveness of new hedges placed against, instruments whose terms currently include LIBOR. The ultimate effect of the LIBOR transition process on the Funds is uncertain.
10. | CAPITAL SHARE TRANSACTIONS |
Capital shares are issued and redeemed by each Fund only in aggregations of a specified number of shares or multiples thereof (“Creation Units”) at NAV. Except when aggregated in Creation Units, shares of each Fund are not redeemable.
Transactions in capital shares were as follows:
| ||||||||||||||||
Six Months Ended 04/30/21 | Year Ended 10/31/20 | |||||||||||||||
iShares ETF | Shares | Amount | Shares | Amount | ||||||||||||
| ||||||||||||||||
International High Yield Bond | ||||||||||||||||
Shares sold | 300,000 | $ | 16,901,852 | 100,000 | $ | 5,097,119 | ||||||||||
|
|
|
|
|
|
|
| |||||||||
J.P. Morgan EM Corporate Bond | ||||||||||||||||
Shares sold | 2,550,000 | $ | 133,041,643 | 1,900,000 | $ | 98,149,834 | ||||||||||
Shares redeemed | — | — | (950,000 | ) | (44,024,378 | ) | ||||||||||
|
|
|
|
|
|
|
| |||||||||
Net increase | 2,550,000 | $ | 133,041,643 | 950,000 | $ | 54,125,456 | ||||||||||
|
|
|
|
|
|
|
| |||||||||
J.P. Morgan EM High Yield Bond | ||||||||||||||||
Shares sold | 2,150,000 | $ | 97,146,348 | 3,450,000 | $ | 163,260,074 | ||||||||||
Shares redeemed | (150,000 | ) | (6,631,769 | ) | (3,550,000 | ) | (143,992,901 | ) | ||||||||
|
|
|
|
|
|
|
| |||||||||
Net increase (decrease) | 2,000,000 | $ | 90,514,579 | (100,000 | ) | $ | 19,267,173 | |||||||||
|
|
|
|
|
|
|
| |||||||||
J.P. Morgan EM Local Currency Bond | ||||||||||||||||
Shares sold | 1,600,000 | $ | 70,559,755 | 4,400,000 | $ | 185,174,171 | ||||||||||
Shares redeemed | (2,400,000 | ) | (106,018,433 | ) | (4,200,000 | ) | (171,184,320 | ) | ||||||||
|
|
|
|
|
|
|
| |||||||||
Net increase (decrease) | (800,000 | ) | $ | (35,458,678 | ) | 200,000 | $ | 13,989,851 | ||||||||
|
|
|
|
|
|
|
|
80 | 2 0 2 1 I SHARES SEMI - ANNUAL REPORT TO SHAREHOLDERS |
Notes to Financial Statements (unaudited) (continued)
| ||||||||||||||||||||
iShares ETF | Six Months Ended 04/30/21 | Year Ended 10/31/20 | ||||||||||||||||||
Shares | Amount | Shares | Amount | |||||||||||||||||
| ||||||||||||||||||||
US & Intl High Yield Corp Bond | ||||||||||||||||||||
Shares sold | — | $ | — | 900,000 | $ | 43,664,313 | ||||||||||||||
Shares redeemed | — | — | (800,000 | ) | (36,061,251 | ) | ||||||||||||||
|
|
|
|
|
|
|
| |||||||||||||
Net increase | — | $ | — | 100,000 | $ | 7,603,062 | ||||||||||||||
|
|
|
|
|
|
|
|
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 shares sold in the table above.
From time to time, settlement of securities related to in-kind contributions or in-kind redemptions may be delayed. In such cases, securities related to in-kind transactions are reflected as a receivable or a payable in the statement of assets and liabilities.
11. | SUBSEQUENT EVENTS |
Management has evaluated the impact of all subsequent events on the Funds through the date the financial statements were available to be issued and has determined that there were no subsequent events requiring adjustment or additional disclosure in the financial statements.
NOTES TO FINANCIAL STATEMENTS | 81 |
Statement Regarding Liquidity Risk Management Program (unaudited)
In compliance with Rule 22e-4 under the Investment Company Act of 1940, as amended (the “Liquidity Rule”), iShares, Inc. (the “Company”) has adopted and implemented a liquidity risk management program (the “Program”) for iShares International High Yield Bond ETF, iShares J.P. Morgan EM Corporate Bond ETF, iShares J.P. Morgan EM High Yield Bond ETF, iShares J.P. Morgan EM Local Currency Bond ETF and iShares US & Intl High Yield Corp Bond ETF (the “Funds” or “ETFs”), each a series of the Company, which is reasonably designed to assess and manage each Fund’s liquidity risk.
The Board of Directors (the “Board”) of the Company, on behalf of the Funds, met on December 2, 2020 (the “Meeting”) to review the Program. The Board previously appointed BlackRock Fund Advisors (“BlackRock”), the investment adviser to the Funds, as the program administrator for each Fund’s Program. BlackRock also previously delegated oversight of the Program to the 40 Act Liquidity Risk Management Committee (the “Committee”). At the Meeting, the Committee, on behalf of BlackRock, provided the Board with a report that addressed the operation of the Program and assessed its adequacy and effectiveness of implementation, including the management of each Fund’s Highly Liquid Investment Minimum (“HLIM”) where applicable, and any material changes to the Program (the “Report”). The Report covered the period from October 1, 2019 through September 30, 2020 (the “Program Reporting Period”).
The Report described the Program’s liquidity classification methodology for categorizing a Fund’s investments (including derivative transactions) into one of four liquidity buckets. It also referenced the methodology used by BlackRock to establish a Fund’s HLIM and noted that the Committee reviews and ratifies the HLIM assigned to each Fund no less frequently than annually. The Report also discussed notable events affecting liquidity over the Program Reporting Period, including extended market holidays and closures in certain countries and the impact of the coronavirus outbreak on the Funds and the overall market.
The Report noted that the Program complied with the key factors for consideration under the Liquidity Rule for assessing, managing and periodically reviewing a Fund’s liquidity risk, as follows:
a) | The Fund’s investment strategy and liquidity of portfolio investments during both normal and reasonably foreseeable stressed conditions. During the Program Reporting Period, the Committee reviewed whether each Fund’s strategy is appropriate for an open-end fund structure, with a focus on Funds with more significant and consistent holdings of less liquid and illiquid assets. The Committee factored a Fund’s concentration in an issuer into the liquidity classification methodology by taking issuer position sizes into account. Derivative exposure was also considered in the calculation of a Fund’s liquidity bucketing. Finally, a factor for consideration under the Liquidity Rule is a Fund’s use of borrowings for investment purposes. However, the Funds do not borrow for investment purposes. |
b) | Short-term and long-term cash flow projections during both normal and reasonably foreseeable stressed conditions. During the Program Reporting Period, the Committee reviewed historical redemption activity and used this information as a component to establish each ETF’s reasonably anticipated trading size (“RATS”). The Committee may also take into consideration a Fund’s shareholder ownership concentration (which, depending on product type and distribution channel, may or may not be available), a Fund’s distribution channels, and the degree of certainty associated with a Fund’s short-term and long-term cash flow projections. |
c) | Holdings of cash and cash equivalents, as well as borrowing arrangements. The Committee considered that ETFs generally do not hold more than de minimis amounts of cash. While the ETFs generally do not engage in borrowing, certain of the ETFs have the flexibility to draw on a line of credit to meet redemption requests or facilitate settlements. |
d) | The relationship between an ETF’s portfolio liquidity and the way in which, and the prices and spreads at which, ETF shares trade, including the efficiency of the arbitrage function and the level of active participation by market participants, including authorized participants. The Committee monitored the prevailing bid/ask spread and the ETF price premium (or discount) to NAV for all ETFs and reviewed any persistent deviations from long-term averages. |
e) | The effect of the composition of baskets on the overall liquidity of an ETF’s portfolio. In reviewing the linkage between the composition of custom baskets accepted by an ETF and any significant change in the liquidity profile of such ETF, the Committee reviewed changes in the proportion of each ETF’s portfolio comprised of less liquid and illiquid holdings to determine if applicable thresholds were met requiring enhanced review. |
As part of BlackRock’s continuous review of the effectiveness of the Program, the Committee made the following enhancements to the Program: (1) certain single country emerging market ETFs were added to a $300 million credit agreement with State Street Bank and Trust Company; and (2) certain updates were made to the RATS and HLIM calculation methodology. The Report provided to the Board stated that the Committee concluded that based on the operation of the functions, as described in the Report, the Program is operating as intended and is effective in implementing the requirements of the Liquidity Rule.
82 | 2 0 2 1 I SHARES SEMI - ANNUAL REPORT TO SHAREHOLDERS |
Supplemental Information (unaudited)
Section 19(a) Notices
The amounts and sources of distributions reported are estimates and are being provided pursuant to regulatory requirements and are not being provided for tax reporting purposes. The actual amounts and sources for tax reporting purposes will depend upon each Fund’s investment experience during the year and may be subject to changes based on tax regulations. Shareholders will receive a Form 1099-DIV each calendar year that will inform them how to report these distributions for federal income tax purposes.
April 30, 2021
iShares ETF | Total Cumulative Distributions for the Fiscal Year-to-Date | % Breakdown of the Total Cumulative Distributions for the Fiscal Year-to-Date | ||||||||||||||||||||||||||||||
Net | Net Realized Capital Gains | Return of Capital | Total Per Share |
Net | Net Realized Capital Gains | Return of Capital | Total Per Share | |||||||||||||||||||||||||
International High Yield Bond | $ | 0.818077 | $ | — | $ | — | $ | 0.818077 | 100 | % | — | % | — | % | 100 | % | ||||||||||||||||
J.P. Morgan EM Corporate Bond(a) | 0.922459 | — | 0.008863 | 0.931322 | 99 | — | 1 | 100 | ||||||||||||||||||||||||
J.P. Morgan EM High Yield Bond(a) | 1.356999 | — | 0.014893 | 1.371892 | 99 | — | 1 | 100 | ||||||||||||||||||||||||
US & Intl High Yield Corp Bond | 1.176972 | — | — | 1.176972 | 100 | — | — | 100 |
(a) | The Fund estimates that it has distributed more than its net investment income and net realized capital gains; therefore, a portion of the distribution may be a return of capital. A return of capital may occur, for example, when some or all of the shareholder’s investment in the Fund is returned to the shareholder. A return of capital does not necessarily reflect the Fund’s investment performance and should not be confused with “yield” or “income”. When distributions exceed total return performance, the difference will incrementally reduce the Fund’s net asset value per share. |
SUPPLEMENTAL INFORMATION | 83 |
Electronic Delivery
Shareholders can sign up for email notifications announcing that the shareholder report or prospectus has been posted on the iShares website at iShares.com. Once you have enrolled, you will no longer receive prospectuses and shareholder reports in the mail.
To enroll in electronic delivery:
• | Go to icsdelivery.com. |
• | If your brokerage firm is not listed, electronic delivery may not be available. Please contact your broker-dealer or financial advisor. |
Householding
Householding is an option available to certain fund investors. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents and Rule 30e-3 notices can be delivered to investors who share the same address, even if their accounts are registered under different names. Please contact your broker-dealer if you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, or if you are currently enrolled in householding and wish to change your householding status.
Availability of Quarterly Schedule of Investments
The Funds file their complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year as an exhibit to their reports on Form N-PORT. The Funds’ Forms N-PORT are available on the SEC’s website at sec.gov. Additionally, each Fund makes its portfolio holdings for the first and third quarters of each fiscal year available at ishares.com/fundreports.
Availability of Proxy Voting Policies and Proxy Voting Records
A description of the policies and procedures that the iShares Funds use to determine how to vote proxies relating to portfolio securities and information about how the iShares Funds voted proxies relating to portfolio securities during the most recent twelve-month period ending June 30 is available without charge, upon request (1) by calling toll-free 1-800-474-2737; (2) on the iShares website at iShares.com; and (3) on the SEC website at sec.gov.
A description of the Company’s policies and procedures with respect to the disclosure of the Fund’s portfolio securities is available in the Fund Prospectus. The Fund discloses its portfolio holdings daily and provides information regarding its top holdings in Fund fact sheets at iShares.com.
84 | 2 0 2 1 I SHARES SEMI - ANNUAL REPORT TO SHAREHOLDERS |
Glossary of Terms Used in this Report
Portfolio Abbreviations - Fixed Income | ||
CAB | Capital Appreciation Bonds | |
LIBOR | London Interbank Offered Rate | |
PIK | Payment-in-kind |
Currency Abbreviations | ||
BRL | Brazilian Real | |
CAD | Canadian Dollar | |
CLP | Chilean Peso | |
CNY | Chinese Yuan | |
COP | Colombian Peso | |
CZK | Czech Koruna | |
DOP | Dominican Peso | |
EUR | Euro | |
GBP | British Pound | |
HUF | Hungarian Forint | |
IDR | Indonesian Rupiah | |
MXN | Mexican Peso | |
MYR | Malaysian Ringgit | |
PEN | Peru Nuevo Sol | |
PHP | Philippine Peso | |
PLN | Polish Zloty | |
RON | Romanian Leu | |
RUB | New Russian Ruble | |
THB | Thai Baht | |
TRY | Turkish Lira | |
UYU | Uruguayan Peso | |
ZAR | South African Rand |
G L O S S A R Y O F T E R M S U S E D I N T H I S R E P O R T | 85 |
Want to know more?
iShares.com | 1-800-474-2737
This report is intended for the Funds’ shareholders. It may not be distributed to prospective investors unless it is preceded or accompanied by the current prospectus.
Investing involves risk, including possible loss of principal.
The iShares Funds are distributed by BlackRock Investments, LLC (together with its affiliates, “BlackRock”).
The iShares Funds are not sponsored, endorsed, issued, sold or promoted by JPMorgan Chase & Co., Markit Indices Limited or Morningstar, Inc., nor do these companies make any representation regarding the advisability of investing in the iShares Funds. BlackRock is not affiliated with the companies listed above.
©2021 BlackRock, Inc. All rights reserved. iSHARES and BLACKROCK are registered trademarks of BlackRock, Inc. or its subsidiaries. All other marks are the property of their respective owners.
iS-SAR-1002-0421
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(b) Not Applicable
Item 2. | Code of Ethics. |
Not applicable to this semi-annual report.
Item 3. | Audit Committee Financial Expert. |
Not applicable to this semi-annual report.
Item 4. | Principal Accountant Fees and Services. |
Not applicable to this semi-annual report.
Item 5. | Audit Committee of Listed Registrants. |
Not applicable to this semi-annual report.
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 Treasurer and Chief Financial Officer (the registrant’s Principal Financial Officer) have concluded that the registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) are effective as of a date within 90 days of the filing date of this report, based on their evaluation of these controls and procedures required by Rule 30a-3(b) under the Investment Company Act of 1940 and Rules 13a-15(b) or 15d-15(b) under the Exchange Act of 1934.
(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 period covered by this report that have materially affected, or are reasonably likely to materially affect, the registrant’s internal control over financial reporting.
Item 12. | Disclosure of Securities Lending Activities for Closed-End Management Investment Companies. |
Not applicable to the registrant.
Item 13. | Exhibits. |
(a) (1) Not applicable to this semi-annual report.
(a) (2) Section 302 Certifications are attached.
(a) (3) Not applicable.
(a) (4) Not applicable.
(b) Section 906 Certifications are attached.
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/ Armando Senra | |||
Armando Senra, President (Principal Executive Officer) |
Date: July 02, 2021
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/ Armando Senra | |||
Armando Senra, President (Principal Executive Officer) |
Date: July 02, 2021
By: | /s/ Trent Walker | |||||
Trent Walker, Treasurer and Chief Financial Officer (Principal Financial Officer) |
Date: July 02, 2021