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March 19, 2018 – iShares Product Update

Weighting methodology change

Effective Monday, March 19, 2018, the weighting methodology for the underlying index tracked by the iShares Select Dividend ETF (DVY) will change from dividend dollar weighted to dividend yield weighted. Additional diversification and liquidity requirements have also been introduced as part of the change. Below is a summary of the changes (changes are in bold):

Ticker DVY
Fund Name iShares Select Dividend ETF
Expense RatioInvestment ObjectiveIndexIndex ChangePrevious MethodologyNew Methodology
0.39% The iShares Select Dividend ETF seeks to track the investment results of an index composed of relatively high dividend paying U.S. equities. Dow Jones US Select Dividend Index Constituent Weighting Scheme


Market Capitalization Requirement		 Constituent weightings are assigned annually based on indicated annual dividend. The weight of any individual company is restricted to 10% within the index, as measured at the time of the annual reconstitution.


In order to be eligible, a company must have a float-adjusted market capitalization of at least US$ 1 billion (US$ 750 million for current constituents).		 Constituent weightings are assigned annually based on indicated annual dividend yield.

The weight of any individual company is restricted to the lower of 10% or five times a constituent’s float-adjusted market capitalization divided by the sum of the float-adjusted market capitalizations of all index constituents.

Each Global Industry Classification Standard (GICS®) sector is restricted to 30% within the index, as measured at the time of the annual reconstitution.


In order to be eligible, a company must have a float-adjusted market capitalization of at least US$ 3 billion (US$ 2 billion for current constituents).


March 15, 2018 – iShares Product Update

Fund closure

Effective March 15th, the iShares® iBonds® Mar 2018 Term Corporate ex-Financials ETF (ticker: IBCC) is closing in accordance with its prospectus and investment objective. The fund will cease trading prior to open on Friday, March 16th.

Fund NameTickerCUSIPExpense RatioBenchmarkExchange
iShares® iBonds® Mar 2018 Term Corporate ex-Financials ETF IBCC - 0.10% Bloomberg Barclays 2018 Maturity High Quality Corporate Index NYSE Arca

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February 9, 2018 – iShares Product Update

FIBR Merger

  • On February 5th, 2018, the iShares Edge U.S. Fixed Income Balanced Risk ETF (FIBR) will reorganize from a transparent active ETF to an index ETF.
  • The Fund will change legal entities, from “iShares U.S. ETF Trust” to “iShares Trust”
  • The fund will move from single basket to a 3 basket structure with ability to in kind (w/cash option)
TickerNameExpense RatioOld Investment ObjectiveNew Investment ObjectiveBenchmark Name
FIBR iShares Edge U.S. Fixed Income Balanced Risk ETF 0.25% The iShares Edge U.S. Fixed Income Balanced Risk ETF seeks total return and preservation of capital The iShares Edge U.S. Fixed Income Balanced Risk ETF seeks to track the investment results of the Bloomberg Barclays U.S. Fixed Income Balanced Risk Index. Bloomberg Barclays U.S. Fixed Income Balanced Risk Index

 

December 29, 2017 – iShares Product Update

Fund Name Changes & Expense Ratio Updates

On 12/29/2017, 55 iShares funds with FYE 8/31/17 will have expense ratio updates.

Additionally, in an effort to simplify the fund names and ensure consistency across the market, we will remove the word “capped” from the fund name across 28 iShares funds. The changes mentioned above are noted in the charts below, respectively.

Fund NameTickerOld Expense RatioNew Expense RatioReason
iShares Currency Hedged MSCI Emerging Markets ETF HEEM 0.71% 0.69% Change in AFFE
iShares Adaptive Currency Hedged MSCI Eurozone ETF DEZU 0.51% 0.52% Change in AFFE
iShares Currency Hedged MSCI Australia ETF HAUD 0.51% 0.52% Change in AFFE
iShares Currency Hedged MSCI Canada ETF HEWC 0.51% 0.52% Change in AFFE
iShares Currency Hedged MSCI Eurozone ETF HEZU 0.51% 0.52% Change in AFFE
iShares Currency Hedged MSCI Italy ETF HEWI 0.48% 0.49% Change in AFFE
iShares Currency Hedged MSCI Mexico ETF HEWW 0.51% 0.53% Change in AFFE
iShares Currency Hedged MSCI South Korea ETF HEWY 0.64% 0.61% Change in AFFE
iShares Currency Hedged MSCI Spain ETF HEWP 0.51% 0.52% Change in AFFE
iShares Currency Hedged MSCI Switzerland ETF HEWL 0.51% 0.52% Change in AFFE
iShares MSCI Australia ETF EWA 0.48% 0.49% Change in Breakpoint
iShares MSCI Austria Capped ETF EWO 0.48% 0.49% Change in Breakpoint
iShares MSCI Belgium Capped ETF EWK 0.48% 0.49% Change in Breakpoint
iShares MSCI Brazil Capped ETF EWZ 0.63% 0.62% Change in Breakpoint
iShares MSCI Canada ETF EWC 0.48% 0.49% Change in Breakpoint
iShares MSCI Chile Capped ETF ECH 0.64% 0.62% Change in Breakpoint
iShares MSCI Emerging Markets Small-Cap ETF EEMS 0.71% 0.69% Change in Breakpoint
iShares MSCI Eurozone ETF EZU 0.48% 0.49% Change in Breakpoint
iShares MSCI France ETF EWQ 0.48% 0.49% Change in Breakpoint
iShares MSCI Germany ETF EWG 0.48% 0.49% Change in Breakpoint
iShares MSCI Hong Kong ETF EWH 0.48% 0.49% Change in Breakpoint
iShares MSCI Israel Capped ETF EIS 0.64% 0.62% Change in Breakpoint
iShares MSCI Italy Capped ETF EWI 0.48% 0.49% Change in Breakpoint
iShares MSCI Japan ETF EWJ 0.48% 0.49% Change in Breakpoint
iShares MSCI Japan Small-Cap ETF SCJ 0.48% 0.49% Change in Breakpoint
iShares MSCI Malaysia ETF EWM 0.48% 0.49% Change in Breakpoint
iShares MSCI Mexico Capped ETF EWW 0.48% 0.49% Change in Breakpoint
iShares MSCI Netherlands ETF EWN 0.48% 0.49% Change in Breakpoint
iShares MSCI Russia Capped ETF ERUS 0.64% 0.62% Change in Breakpoint
iShares MSCI Singapore ETF EWS 0.48% 0.49% Change in Breakpoint
iShares MSCI South Africa ETF EZA 0.64% 0.62% Change in Breakpoint
iShares MSCI South Korea Capped ETF EWY 0.64% 0.62% Change in Breakpoint
iShares MSCI Spain Capped ETF EWP 0.48% 0.49% Change in Breakpoint
iShares MSCI Sweden ETF EWD 0.48% 0.49% Change in Breakpoint
iShares MSCI Switzerland Capped ETF EWL 0.48% 0.49% Change in Breakpoint
iShares MSCI Taiwan ETF EWT 0.64% 0.62% Change in Breakpoint
iShares MSCI Thailand Capped ETF THD 0.63% 0.62% Change in Breakpoint
iShares MSCI Turkey ETF TUR 0.64% 0.62% Change in Breakpoint
iShares MSCI All Peru Capped ETF EPU 0.63% 0.62% Change in Breakpoint
iShares MSCI Brazil Small-Cap ETF EWZS 0.63% 0.62% Change in Breakpoint
iShares MSCI China ETF MCHI 0.64% 0.62% Change in Breakpoint
iShares MSCI China Small-Cap ETF ECNS 0.64% 0.62% Change in Breakpoint
iShares MSCI Indonesia ETF EIDO 0.63% 0.62% Change in Breakpoint
iShares MSCI Ireland Capped ETF EIRL 0.48% 0.49% Change in Breakpoint
iShares MSCI New Zealand Capped ETF ENZL 0.48% 0.49% Change in Breakpoint
iShares MSCI Philippines ETF EPHE 0.64% 0.62% Change in Breakpoint
iShares MSCI Qatar Capped ETF QAT 0.64% 0.62% Change in Breakpoint
iShares MSCI UAE Capped ETF UAE 0.64% 0.62% Change in Breakpoint
iShares MSCI United Kingdom ETF EWU 0.48% 0.49% Change in Breakpoint
iShares MSCI Emerging Markets ETF EEM 0.72% 0.69% Change in Breakpoint & foreign taxes
iShares MSCI BRIC ETF BKF 0.72% 0.70% Change in Breakpoint & other expenses
iShares MSCI Poland Capped ETF EPOL 0.64% 0.63% Change in Breakpoint & other expenses
iShares MSCI India ETF INDA 0.71% 0.68% Change in foreign taxes
iShares MSCI India Small-Cap ETF SMIN 0.80% 0.75% Change in foreign taxes
iShares MSCI Finland Capped ETF EFNL 0.53% 0.55% Change in other expenses

* AFFE: Acquired Fund Fees and Expenses

 

TickerOld Fund NameNew Fund Name
ECH iShares MSCI Chile Capped ETF iShares MSCI Chile
EDEN iShares MSCI Denmark Capped ETF iShares MSCI Denmark
EFNL iShares MSCI Finland Capped ETF iShares MSCI Finland
EIRL iShares MSCI Ireland Capped ETF iShares MSCI Ireland
EIS iShares MSCI Israel Capped ETF iShares MSCI Israel
ENOR iShares MSCI Norway Capped ETF iShares MSCI Norway
ENZL iShares MSCI New Zealand Capped ETF iShares MSCI New Zealand
EPOL iShares MSCI Poland Capped ETF iShares MSCI Poland
EPU iShares MSCI All Peru Capped ETF iShares MSCI Peru
ERUS iShares MSCI Russia Capped ETF iShares MSCI Russia
EWD iShares MSCI Sweden Capped ETF iShares MSCI Sweden
EWI iShares MSCI Italy Capped ETF iShares MSCI Italy
EWK iShares MSCI Belgium Capped ETF iShares MSCI Belgium
EWL iShares MSCI Switzerland Capped ETF iShares MSCI Switzerland
EWO iShares MSCI Austria Capped ETF iShares MSCI Austria
EWP iShares MSCI Spain Capped ETF iShares MSCI Spain
EWS iShares MSCI Singapore Capped ETF iShares MSCI Singapore
EWT iShares MSCI Taiwan Capped ETF iShares MSCI Taiwan
EWW iShares MSCI Mexico Capped ETF iShares MSCI Mexico
EWY iShares MSCI South Korea Capped ETF iShares MSCI South Korea
EWZ iShares MSCI Brazil Capped ETF iShares MSCI Brazil
ICOL iShares MSCI Colombia Capped ETF iShares MSCI Colombia
KSA iShares MSCI Saudi Arabia Capped ETF iShares MSCI Saudi Arabia
QAT iShares MSCI Qatar Capped ETF iShares MSCI Qatar
REM iShares Mortgage Real Estate Capped ETF iShares Mortgage Real Estate
REZ iShares Residential Real Estate Capped ETF iShares Residential Real Estate
THD iShares MSCI Thailand Capped ETF iShares MSCI Thailand
UAE iShares MSCI UAE Capped ETF iShares MSCI UAE ETF


December 15, 2017 – iShares Product Update

IBDJ Fund Closure

Effective December 15th, the iShares® iBonds® Dec 2017 Term Corporate ETF (ticker: IBDJ) is closing in accordance with its prospectus and investment objective.

Fund NameTickerExpense RatioBenchmarkExchange
iShares® iBonds® Dec 2017 Term Corporate ETF IBDJ 0.15% Bloomberg Barclays December 2017 Maturity Corporate Index NYSE Arca


December 1, 2017 – iShares Product Update

Expense Ratio Update and IBB Split

As of 12/1/2017, the expense ratios for several iShares funds has changed. Please reference the chart below for details regarding these changes.

Additionally, after close of trading on 11/30/2017, the iShares Nasdaq Biotechnology ETF (ticker: IBB) underwent a 3 for 1 forward split.

Fund NameTickerOld Net Expense RatioNew Net Expense Ratio*DifferenceReason
iShares Adaptive Currency Hedged MSCI EAFE ETF DEFA 0.36% 0.35% -0.01% Change in AFFE
iShares Currency Hedged MSCI ACWI ETF HACW 0.36% 0.35% -0.01% Change in AFFE
iShares Currency Hedged MSCI ACWI ex U.S. ETF HAWX 0.36% 0.35% -0.01% Change in AFFE
iShares Currency Hedged MSCI EAFE ETF HEFA 0.36% 0.35% -0.01% Change in AFFE
iShares MSCI ACWI ETF ACWI 0.33% 0.32% -0.01% Change in Breakpoint
iShares MSCI ACWI ex U.S. ETF ACWX 0.33% 0.32% -0.01% Change in Breakpoint
iShares MSCI All Country Asia ex Japan ETF AAXJ 0.72% 0.70% -0.02% Change in Breakpoint
iShares MSCI EAFE ETF EFA 0.33% 0.32% -0.01% Change in Breakpoint

* Net expense ratios shown. For certain funds, the expense ratio may reflect fee waivers and/or expense reimbursements without which would have resulted in a higher expense ratio.

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November 14, 2017 – iShares Product Update

iShares Releases Capital Gains Estimates

On November 13th, iShares released capital gains distribution estimates for 2017. This year, ~95% of iShares ETFs are not expected to distribute capital gains. iShares is only paying capital gains on 17 ETFs, which represents ~5% of total funds.

Of particular note:

  1. 100% of iShares Core ETFs are not paying capital gains, excluding the Core Allocation funds
  2. 100% of iShares U.S. equity style-box ETFs are not paying capital gains
  3. Nearly 95% of iShares fixed income ETFs are not paying capital gains

For more details view the 2017 Estimated Capital Gains Distributions

 

October 18, 2017 – iShares Product Update

Share Split for Two iShares Funds

The Board of Trustees for iShares Trust has authorized a share split for the iShares California Muni Bond ETF (ticker: CMF) and the iShares New York Muni Bond ETF (ticker: NYF) for shareholders of record as of the close of business on October 17th, 2017, payable after the close of trading on October 18th, 2017.

Please refer to the chart below for information regarding these share splits.

Fund NameTickerExpense RatioIndex NameProposed Forward
Split Ratio
iShares California Muni Bond ETF CMF 0.25% S&P California AMT-Free Municipal Bond Index 2 for 1
iShares New York Muni Bond ETF NYF 0.25% S&P New York AMT-Free Municipal Bond Index 2 for 1

 

September 1, 2017 – iShares Product Update

BlackRock Announces Index Changes on Three iShares ETFs

Effective September 1st, three iShares MSCI funds are undergoing benchmark changes to the capped version for RIC diversification purposes – the iShares MSCI Netherlands ETF (ticker: EWN), the iShares MSCI South Africa ETF (ticker: EZA) and the iShares MSCI Canada ETF (ticker: EWC). For further details on this change, please reference the chart below as well as the press release.

Additionally, the iShares® iBonds® Sep 2017 Term Muni Bond ETF (ticker: IBMF) is closing today in accordance with its prospectus and investment objective.

Fund NameTickerExpense RatioCurrent Underlying IndexNew Underlying Index
iShares MSCI Netherlands ETF EWN 0.48% MSCI Netherlands Investable Market Index MSCI Netherlands IMI 25/50 Index
iShares MSCI South Africa ETF EZA 0.64% MSCI South Africa Index MSCI South Africa 25/50 Index
iShares MSCI Canada ETF EWC 0.48% MSCI Canada Index MSCI Canada Custom Capped Index


August 31, 2017 – iShares Product Update

Share Split for the iShares International Treasury Bond ETF

The Board of Trustees for iShares Trust has authorized a share split for the iShares International Treasury Bond ETF (ticker: IGOV) for shareholders of record as of the close of business on August 28th, 2017, payable after the close of trading on August 30th, 2017.

Fund NameTickerExpense RatioIndex NameProposed Forward Split Ratio
iShares International Treasury Bond ETF IGOV 0.35% S&P/Citigroup International Treasury Bond Index Ex-US 2 for 1


August 4, 2017 – iShares Product Update

iShares Fee Cuts

iShares has reduced the fees for 12 ETFs as part of the continual review of our lineup to ensure we offer quality exposures at competitive prices to meet the needs of our clients. Please reference the chart below for full details.

CategoryFund NameTickerCurrent Expense RatioNew Expense Ratio
U.S. Fixed Income iShares 0-5 Year TIPS Bonds ETF STIP 0.10% 0.06%
iShares 0-5 Year Investment Grade Corp. Bond ETF SLQD 0.08% 0.06%
iShares Fallen Angels USD Bond ETF FALN 0.35% 0.25%
iShares MBS ETF* MBB 0.27% 0.09%
Core Fixed Income iShares Core Total USD Bond Market ETF IUSB 0.08% 0.06%
iShares 1-5 Year USD Bond ETF ISTB 0.08% 0.06%
iShares Core 5-10 Year USD Bond ETF IMTB 0.08% 0.06%
iShares Core 10+ Year USD Bond ETF ILTB 0.08% 0.06%
iShares Core International Aggregate Bond ETF IAGG 0.11% 0.09%
U.S. & International Equities iShares MSCI EAFE ESG Optimized ETF ESGD 0.40% 0.20%
iShares MSCI EM ESG Optimized ETF ESGE 0.45% 0.25%
iShares MSCI USA ESG Optimized ETF ESGU 0.28% 0.15%

* Note: MBB price cut occurred on 7/13/17

August 1, 2017 – iShares Product Update

iShares Transitions Primary Listing Venue for 50 iShares ETFs

As previously reported, iShares has transitioned the primary listing exchange for 50 iShares ETFs effective August 2nd, please reference the press release.

NYSE to Bats

TickerNameFormer ExchangeNew Exchange
ACWV iShares Edge MSCI Min Vol Global ETF NYSE Arca Bats
ECH iShares MSCI Chile Capped ETF NYSE Arca Bats
EEMV iShares Edge MSCI Min Vol Emerging Markets ETF NYSE Arca Bats
EFAV iShares Edge MSCI Min Vol EAFE ETF NYSE Arca Bats
EFG iShares MSCI EAFE Growth ETF NYSE Arca Bats
EFV iShares MSCI EAFE Value ETF NYSE Arca Bats
FLOT iShares Floating Rate Bond ETF NYSE Arca Bats
GOVT iShares U.S. Treasury Bond ETF NYSE Arca Bats
GVI iShares Intermediate Government/Credit Bond ETF NYSE Arca Bats
HEEM iShares Currency Hedged MSCI Emerging Markets ETF NYSE Arca Bats
HEFA iShares Currency Hedged MSCI EAFE ETF NYSE Arca Bats
ICF iShares Cohen & Steers REIT ETF NYSE Arca Bats
IDV iShares International Select Dividend ETF NYSE Arca Bats
IEFA iShares Core MSCI EAFE ETF NYSE Arca Bats
IEO iShares U.S. Oil & Gas Exploration & Production ETF NYSE Arca Bats
IGE iShares North American Natural Resources ETF NYSE Arca Bats
IGV iShares North American Tech-Software ETF NYSE Arca Bats
IPFF iShares International Preferred Stock ETF NYSE Arca Bats
ITA iShares U.S. Aerospace & Defense ETF NYSE Arca Bats
ITB iShares U.S. Home Construction ETF NYSE Arca Bats
IYJ iShares U.S. Industrials ETF NYSE Arca Bats
IYT iShares Transportation Average ETF NYSE Arca Bats
IYZ iShares U.S. Telecommunications ETF NYSE Arca Bats
MTUM iShares Edge MSCI USA Momentum Factor ETF NYSE Arca Bats
PICK iShares MSCI Global Metals & Mining Producers ETF NYSE Arca Bats
QUAL iShares Edge MSCI USA Quality Factor ETF NYSE Arca Bats
REM iShares Mortgage Real Estate Capped ETF NYSE Arca Bats
SLVP iShares MSCI Global Silver Miners ETF NYSE Arca Bats
USMV iShares Edge MSCI Min Vol USA ETF NYSE Arca Bats
VLUE iShares Edge MSCI USA Value Factor ETF NYSE Arca Bats


NYSE to Nasdaq

TickerNameFormer ExchangeNew Exchange
CIU iShares Intermediate Credit Bond ETF NYSE Arca Nasdaq
CRED iShares U.S. Credit Bond ETF NYSE Arca Nasdaq
CSJ iShares 1-3 Year Credit Bond ETF NYSE Arca Nasdaq
DVY iShares Select Dividend ETF NYSE Arca Nasdaq
EMB iShares J.P. Morgan USD Emerging Markets Bond ETF NYSE Arca Nasdaq
HEWG iShares Currency Hedged MSCI Germany ETF NYSE Arca Nasdaq
IEF Shares 7-10 Year Treasury Bond ETF NYSE Arca Nasdaq
IEI iShares 3-7 Year Treasury Bond ETF NYSE Arca Nasdaq
IJT iShares S&P Small-Cap 600 Growth ETF NYSE Arca Nasdaq
ISTB iShares Core 1-5 Year USD Bond ETF NYSE Arca Nasdaq
IUSB iShares Core Total USD Bond Market ETF NYSE Arca Nasdaq
IUSG iShares Core S&P U.S. Growth ETF NYSE Arca Nasdaq
IUSV iShares Core S&P U.S. Value ETF NYSE Arca Nasdaq
MBB iShares MBS ETF NYSE Arca Nasdaq
PFF iShares U.S. Preferred Stock ETF NYSE Arca Nasdaq
RING iShares MSCI Global Gold Miners ETF NYSE Arca Nasdaq
SHV iShares Short Treasury Bond ETF NYSE Arca Nasdaq
SHY iShares 1-3 Year Treasury Bond ETF NYSE Arca Nasdaq
TUR iShares MSCI Turkey ETF NYSE Arca Nasdaq
XT iShares Exponential Technologies ETF NYSE Arca Nasdaq

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July 13, 2017 – iShares Product Update

iShares Ticker/Fee Changes

Effective July 13th, two of our funds will be undergoing updates.

Fund NameTickerOld Expense RatioNew Expense RatioIndex NameExchange
iShares MBS ETF MBB 0.28% 0.09%* Bloomberg Barclays US Mortgage Backed Securities Index NYSE Arca

 

Fund NameOld TickerNew TickerExpense RatioIndex NameExchange
iShares MSCI USA ESG Select ETF KLD SUSA 0.50% MSCI USA ESG Select Index NYSE Arca


* Contractual fee waivers are in place until 2/28/2023. Gross expense ratio is 0.12%.

June 1, 2017 – iShares Product Update

Effective June 1st, the iShares Emerging Markets Corporate Bond ETF (CEMB) and the iShares Emerging Markets Local Currency Bond ETF (LEMB) underwent benchmark changes. For full details, please reference the chart below as well as the attached index comparison piece. Please note that there will be no changes to either of the funds expense ratios.

Current Fund NameTickerNew Fund NameCurrent Index NameNew Index Name
iShares Emerging Markets Corporate Bond ETF CEMB iShares J.P. Morgan EM Corporate Bond ETD Morningstar Emerging Markets Corporate Bond Index J.P. Morgan CEMBI Broad Diversified Core Index
iShares Emerging Markets Local Bond ETF LEMB iShares J.P. Morgan EM Local Currency Bond ETF Bloomberg Barclays Emerging Markets Broad Local Currency Bond Index J.P. Morgan GBI-EM Global Diversified 15% Cap 4.5% Floor Index

LEMB and CEMB Index Changes: What you need to know.

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Due Diligence Team

Dominic Maister

Dominic Maister
Managing Director
212-810-8557
Email

Grant Einhorn

Grant Einhorn
Director
415-670-4634
Email

Kathryn Bernhardt

Kathryn Bernhardt
Director
212-810-8218
Email

Craig Dehner

Craig Dehner
Director
415-670-6810
Email

Sara Prager

Sara Prager
Vice President
646-231-1984
Email

Avyay Gollabinnie

Avyay Gollabinnie
Associate
415-670-2956
Email

Lauren Miller

Lauren Miller
Associate
646-231-0304
Email

Alex Dorado

Alex Dorado
Associate
415-670-2084
Email

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The Blog

Searching for Yield Down Under

The persistence of low yields has had investors searching for income high and low for a while now. Recently, investors are expanding their hunt to some less than obvious places.

Read more at The Blog

Guide to Using Bloomberg

Learn how to view iShares ETF information on Bloomberg. Find ETF research functions; instructions on how to research specific iShares ETFs (both equity and fixed income); and general market information.

iShares ETFs Bloomberg Guide

Bond Buyers Guide to ETFs

Must read! Our new favorite resource is a comprehensive guide for investors using bond ETFs. From basic to advanced content, we expect this to be a terrific resource for all ETF due diligence professionals.

Download the Bond Buyers Guide to ETFs

Carefully consider the Funds' investment objectives, risk factors, and charges and expenses before investing. This and other information can be found in the Funds' prospectuses or, if available, the summary prospectuses, which may be obtained by visiting the iShares Fund and BlackRock Fund prospectus pages. Read the prospectus carefully before investing.

Investing involves risk, including possible loss of principal.

The Funds are distributed by BlackRock Investments, LLC (together with its affiliates, “BlackRock”).

The iShares Funds are not sponsored, endorsed, issued, sold or promoted by Barclays, Bloomberg Finance L.P., BlackRock Index Services, LLC, Cohen & Steers Capital Management, Inc., European Public Real Estate Association (“EPRA® ”), FTSE International Limited (“FTSE”), ICE Data Services, LLC, India Index Services & Products Limited, JPMorgan Chase & Co., Japan Exchange Group, MSCI Inc., Markit Indices Limited, Morningstar, Inc., The NASDAQ OMX Group, Inc., National Association of Real Estate Investment Trusts (“NAREIT”), New York Stock Exchange, Inc., Russell or S&P Dow Jones Indices LLC. None of these companies make any representation regarding the advisability of investing in the Funds. With the exception of BlackRock Index Services, LLC, who is an affiliate, BlackRock Investments, LLC is not affiliated with the companies listed above.


Neither FTSE nor NAREIT makes any warranty regarding the FTSE NAREIT Equity REITS Index, FTSE NAREIT All Residential Capped Index or FTSE NAREIT All Mortgage Capped Index; all rights vest in NAREIT. Neither FTSE nor NAREIT makes any warranty regarding the FTSE EPRA/NAREIT Developed Real Estate ex-U.S. Index, FTSE EPRA/NAREIT Developed Europe Index or FTSE EPRA/NAREIT Global REIT Index; all rights vest in FTSE, NAREIT and EPRA.“FTSE®” is a trademark of London Stock Exchange Group companies and is used by FTSE under license.

©2018 BlackRock, Inc. All rights reserved. BLACKROCK, BLACKROCK SOLUTIONS, BUILD ON BLACKROCK, ALADDIN, iSHARES, iBONDS, iSHARES CONNECT, FUND FRENZY, LIFEPATH, SO WHAT DO I DO WITH MY MONEY, INVESTING FOR A NEW WORLD, BUILT FOR THESE TIMES, the iShares Core Graphic, CoRI and the CoRI logo are registered and unregistered trademarks of BlackRock, Inc., or its subsidiaries in the United States and elsewhere. All other marks are the property of their respective owners.

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