Yes it will.
Only the 9mm barrels will fit the 9mm M&P Shield. Smith & Wesson made 2 different guns. It's one of my major beefs with S&W, that one has to purchase the 40 to get the 357 and you can get a 9mm swapper barrel to fit that. No-one should ever buy the 9mm. It's a design flaw and S&W should quit making it and certainly, no one should ever buy this. You can have the same exact outer size firearm and get adaptability. Bar sto barrels could make a 30 luger for it and a 22TCM9r could be adapted as well.