DELTA ONE
FOR USE WITH INSTITUTIONAL INVESTORS
Markets are changing. Derivatives are no longer the default way to access beta.

MODEL ESTIMATED TOTAL COSTS FOR ETFs AND FUTURES
Use Delta One to help inform whether to trade an equity index futures contract or ETF.
SEE DELTA ONE IN ACTION
Learn how you can use BlackRock's Delta One Tool to help make more informed trading decisions.
Welcome to BlackRock Delta One.
We designed BlackRock Delta One to help institutional investors compare equity index ETFs with equity index futures contracts. Compare by exposure, liquidity, cost and historical performance.
Because investors have specific trading strategies, tax rates and investment horizons, and earn various yields on cash, the tool allows users to customize their own parameters.
BlackRock Delta One, a tool that helps you compare equity index futures with equity index ETFs.
Spoken disclosure:
Visit iShares.com to view a prospectus, which includes investment objectives, risks, fees, expenses and other information that you should read and consider carefully before investing. Investing involves risk, including possible loss of principal.
Written disclosure:
Visit www.iShares.com to view a prospectus, which includes investment objectives, risks, fees, expenses and other information that you should read and consider carefully before investing.
Investing involves risk, including possible loss of principal.
No proprietary technology or asset allocation model is a guarantee against loss of principal. There can be no assurance that an investment strategy based on the tools will be successful.
The tool is provided on an 'as-is' basis. BlackRock expressly disclaims all warranties, express or implied, statutory or otherwise with respect to the tool (and any results obtained from its use) including, without limitation, all warranties or merchantability, fitness for a particular purpose or use, accuracy, completeness, originality and/or non-infringement. In no event shall BlackRock have any liability for any claims, damages, obligations, liabilities or losses relating to the tool including, without limitation, any liability for any direct, indirect, special, incidental, punitive and/or consequential damages (including loss of profits or principal).
There can be no assurance that an active trading market for shares of an ETF will develop or be maintained.
This material is provided for educational purposes only and is not intended to constitute investment advice or an investment recommendation within the meaning of federal, state or local law. You are solely responsible for evaluating and acting upon the education and information contained in this material. BlackRock will not be liable for direct or incidental loss resulting from applying any of the information obtained from these materials or from any other source mentioned. BlackRock does not render any legal, tax or accounting advice and the education and information contained in this material should not be construed as such. Please consult with a qualified professional for these types of advice.
Prepared by BlackRock Investments, LLC, member FINRA.
©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.
THE BENEFITS OF DELTA ONE

Customized
Select your holding period, cash reinvestment rate, trade size and target benchmark

Fast
Run an analysis in minutes

Due diligence
Use our data to help make your own decision about which vehicle fits with your needs

Comprehensive
In addition to costs, compare differences in exposure, liquidity and performance between futures and ETFs
Choosing the best beta vehicle goes well beyond liquidity. Understanding the component costs of each is critical to maximizing overall performance.