1 Net expense ratios, as applicable, as of 10/2015. Subject to change.
2 Morningstar, as of 12/31/15. Comparison is between the average Prospectus Net Expense Ratio for the iShares ETFs (0.37%) and the oldest share class of active open-end mutual funds (1.08%) with 10-year track records that were available in the U.S. between 1/1/2006 and 12/31/2015. Analysis excludes municipal bond and money market funds.
3 Morningstar, as of 12/31/15. "Tax Cost Ratio" is a Morningstar measure of the impact of taxes on capital gains and income distributions on performance. The average 10-year Tax Cost Ratio of iShares ETFs and the oldest share class of all actively managed open-end mutual funds available in the U.S. between 1/1/2006 and 12/31/2015 (excluding municipal bond and money market funds) included in the comparison is 0.53% and 1.21%, respectively.
4 BlackRock, Morningstar as of 11/12/15. There is no guarantee that distributions will not be paid in the future.