iComparison is between the average Prospectus Net Expense Ratio for the iShares Core Series ETFs (0.11%) and the average Prospectus Net Expense Ratio of active open-end mutual funds (1.24%) available in the U.S. (excluding municipal bond and money market funds) on 12/31/2015.
iIMorningstar, 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.
iiiShares of the iShares Funds may be bought and sold throughout the day on the exchange through any brokerage account. Shares are not individually redeemable from the Fund, however, Shares may be redeemed directly from a Fund by Authorized Participants, in very large creation/redemption units.
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 ETF and BlackRock Fund prospectus pages. Read the prospectus carefully before investing.
Investing involves risk, including possible loss of principal.
Diversification and asset allocation may not protect against market risk or loss of principal.
There can be no assurance that an active trading market for shares of an ETF will develop or be maintained.
Transactions in shares of ETFs will result in brokerage commissions and will generate tax consequences. All regulated investment companies are obliged to distribute portfolio gains to shareholders.
Certain traditional mutual funds can also be tax efficient.
International investing involves risks, including risks related to foreign currency, limited liquidity, less government regulation and the possibility of substantial volatility due to adverse political, economic or other developments. These risks often are heightened for investments in emerging/ developing markets or in concentrations of single countries.
Fixed income risks include interest-rate and credit risk. Typically, when interest rates rise, there is a corresponding decline in bond values. Credit risk refers to the possibility that the bond issuer will not be able to make principal and interest payments.
The iShares Minimum Volatility ETFs may experience more than minimum volatility as there is no guarantee that the underlying index's strategy of seeking to lower volatility will be successful.
There can be no assurance that performance will be enhanced or risk will be reduced for funds that seek to provide exposure to certain quantitative investment characteristics ("factors"). Exposure to such investment factors may detract from performance in some market environments, perhaps for extended periods. In such circumstances, a fund may seek to maintain exposure to the targeted investment factors and not adjust to target different factors, which could result in losses.
There is no guarantee that dividends will be paid.
The Funds are distributed by BlackRock Investments, LLC (together with its affiliates, “BlackRock”).