As filed with the U.S. Securities and Exchange Commission on July 24, 2020
File Nos. 333-92935 and 811-09729
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-1A | ||||
REGISTRATION STATEMENT | ||||
UNDER | ||||
THE SECURITIES ACT OF 1933 | ☒ | |||
Post-Effective Amendment No. 2,389 | ☒ | |||
and/or | ||||
REGISTRATION STATEMENT | ||||
UNDER | ||||
THE INVESTMENT COMPANY ACT OF 1940 | ☒ | |||
Amendment No. 2,389 | ☒ |
(Check appropriate box or boxes)
iShares Trust
(Exact Name of Registrant as Specified in Charter)
c/o State Street Bank and Trust Company
1 Lincoln Street
Mail Stop SFC0805
Boston, MA 02111
(Address of Principal Executive Office)(Zip Code)
Registrants Telephone Number, including Area Code: (415) 670-2000
The Corporation Trust Company
1209 Orange Street
Wilmington, DE 19801
(Name and Address of Agent for Service)
With Copies to:
MARGERY K. NEALE, ESQ. WILLKIE FARR & GALLAGHER LLP 787 SEVENTH AVENUE NEW YORK, NY 10019-6099 |
DEEPA DAMRE, ESQ. BLACKROCK FUND ADVISORS 400 HOWARD STREET SAN FRANCISCO, CA 94105 |
It is proposed that this filing will become effective (check appropriate box):
☐ |
Immediately upon filing pursuant to paragraph (b) |
☒ |
On July 31, 2020 pursuant to paragraph (b) |
☐ |
60 days after filing pursuant to paragraph (a)(1) |
☐ |
On (date) pursuant to paragraph (a)(1) |
☐ |
75 days after filing pursuant to paragraph (a)(2) |
☐ |
On (date) pursuant to paragraph (a)(2) |
If appropriate, check the following box:
☐ |
This post-effective amendment designates a new effective date for a previously filed post-effective amendment. |
July 31, 2020 | |
2020 Prospectus |
• |
iShares Asia 50
ETF | AIA | NASDAQ
|
|
S-1 |
|
1 |
|
2 |
|
19 |
|
21 |
|
21 |
|
24 |
|
35 |
|
35 |
|
37 |
|
37 |
|
40 |
Ticker: AIA | Stock Exchange: NASDAQ |
1 | The amount rounded to 0.00%. |
1 Year | 3 Years | 5 Years | 10 Years | |||
$51 | $160 | $280 | $628 |
1 | The Fund’s year-to-date return as of June 30, 2020 was -1.16%. |
One Year | Five Years | Ten Years | |||
(Inception Date: 11/13/2007) | |||||
Return Before Taxes | 21.84% | 9.50% | 7.50% | ||
Return After Taxes on Distributions1 | 21.19% | 8.92% | 7.00% | ||
Return After Taxes on Distributions and Sale of Fund Shares1 | 13.39% | 7.42% | 6.01% | ||
S&P Asia 50TM (Index returns do not reflect deductions for fees, expenses, or taxes) | 22.45% | 10.12% | 8.08% |
1 | After-tax returns in the table above are calculated using the historical highest individual U.S. federal marginal income tax rates and do not reflect the impact of state or local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown, and after-tax returns shown are not relevant to tax-exempt investors or investors who hold shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts (“IRAs”). Fund returns after taxes on distributions and sales of Fund shares are calculated assuming that an investor has sufficient capital gains of the same character from other investments to offset any capital losses from the sale of Fund shares. As a result, Fund returns after taxes on distributions and sales of Fund shares may exceed Fund returns before taxes and/or returns after taxes on distributions. |
■ | Government Control and Regulations. Governments of many Asian countries have implemented significant economic reforms in order to liberalize trade policies, promote foreign investment in their economies, reduce government control of the economy and develop market mechanisms. There can be no assurance these reforms will continue or that they will be effective. Despite recent reform and privatizations, significant regulation of investment and industry is still pervasive in many Asian countries and may restrict foreign ownership of domestic corporations and repatriation of assets, which may adversely affect Fund investments. |
■ | Political and Social Risk. Governments in some Asian countries are authoritarian in nature, have been installed or removed as a result of military coups or have periodically used force to suppress civil dissent. Disparities of wealth, the pace and success of democratization, and ethnic, religious and racial disaffection may exacerbate social turmoil, violence and labor unrest in some countries. Unanticipated or sudden political or social developments may result in sudden and significant investment losses. |
■ | Expropriation Risk. Investing in certain Asian countries involves risk of loss due to expropriation, nationalization, or confiscation of assets and property or the imposition of restrictions on foreign investments and on repatriation of capital invested. |
■ | General Impact. This outbreak has resulted in travel restrictions, closed international borders, enhanced health screenings at ports of entry and elsewhere, disruption of and delays in healthcare service preparation and delivery, prolonged quarantines, cancellations, supply chain disruptions, lower consumer demand, temporary closures of stores, restaurants and other commercial establishments, layoffs, defaults and other significant economic impacts, as well as general concern and uncertainty. |
■ | Market Volatility. The outbreak has also resulted in extreme volatility, severe losses, and disruptions in markets which can adversely impact the Fund and its investments, including impairing hedging activity to the extent a Fund engages in such activity, as expected correlations between related markets or instruments may no longer apply. In addition, to the extent the Fund invests in short-term instruments that have negative yields, the Fund’s value may be impaired as a result. Certain issuers of equity securities have cancelled or announced the suspension of |
dividends. The outbreak has, and may continue to, negatively affect the credit ratings of some fixed income securities and their issuers. | |
■ | Market Closures. Certain local markets have been or may be subject to closures, and there can be no assurance that trading will continue in any local markets in which the Fund may invest, when any resumption of trading will occur or, once such markets resume trading, whether they will face further closures. Any suspension of trading in markets in which the Fund invests will have an impact on the Fund and its investments and will impact the Fund’s ability to purchase or sell securities in such markets. |
■ | Operational Risk. The outbreak could also impair the information technology and other operational systems upon which the Fund’s service providers, including BFA, rely, and could otherwise disrupt the ability of employees of the Fund’s service providers to perform critical tasks relating to the Fund, for example, due to the service providers’ employees performing tasks in alternate locations than under normal operating conditions or the illness of certain employees of the Fund’s service providers. |
■ | Governmental Interventions. Governmental and quasi-governmental authorities and regulators throughout the world have responded to the outbreak and the resulting economic disruptions with a variety of fiscal and monetary policy changes, including direct capital infusions into companies and other issuers, new monetary policy tools, and lower interest rates. An unexpected or sudden reversal of these policies, or the ineffectiveness of such policies, is likely to increase market volatility, which could adversely affect the Fund’s investments. |
■ | Pre-Existing Conditions. Public health crises caused by the outbreak may exacerbate other pre-existing political, social and economic risks in certain countries or globally. |
■ | A lack of market liquidity and market efficiency; |
■ | Greater securities price volatility; |
■ | Exchange rate fluctuations and exchange controls; |
■ | Less availability of public information about issuers; |
■ | Limitations on foreign ownership of securities; |
■ | Imposition of withholding or other taxes; |
■ | Imposition of restrictions on the expatriation of the funds or other assets of the Fund; |
■ | Higher transaction and custody costs and delays in settlement procedures; |
■ | Difficulties in enforcing contractual obligations; |
■ | Lower levels of regulation of the securities markets; |
■ | Weaker accounting, disclosure and reporting requirements; and |
■ | Legal principles relating to corporate governance, directors’ fiduciary duties and liabilities and stockholders’ rights in markets in which the Fund invests may differ from and/or may not be as extensive or protective as those that apply in the U.S. |
Approximate
Value of a Creation Unit |
Creation
Unit Size |
Standard
Creation/ Redemption Transaction Fee |
Maximum
Additional
Charge for Creations* |
Maximum
Additional
Charge for Redemptions* |
||||
$2,972,000 | 50,000 | $2,500 | 7.0% | 2.0% |
* | As a percentage of the net asset value per Creation Unit, inclusive, in the case of redemptions, of the standard redemption transaction fee. |
iShares Asia 50 ETF | |||||||||
Year
Ended
03/31/20 |
Year
Ended
03/31/19 |
Year
Ended
03/31/18 |
Year
Ended
03/31/17 |
Year
Ended
03/31/16 |
|||||
Net asset value, beginning of year | $ 61.05 | $ 67.20 | $ 52.54 | $ 43.58 | $ 49.72 | ||||
Net investment income(a) | 1.42 | 1.48 | 1.06 | 1.04 | 1.06 | ||||
Net realized and unrealized gain (loss)(b) | (4.94) | (6.25) | 14.56 | 8.98 | (5.98) | ||||
Net increase (decrease) from investment operations | (3.52) | (4.77) | 15.62 | 10.02 | (4.92) | ||||
Distributions (c) | |||||||||
From net investment income | (1.48) | (1.38) | (0.96) | (1.06) | (1.22) | ||||
Total distributions | (1.48) | (1.38) | (0.96) | (1.06) | (1.22) | ||||
Net asset value, end of year | $ 56.05 | $ 61.05 | $ 67.20 | $ 52.54 | $ 43.58 | ||||
Total Return | |||||||||
Based on net asset value | (6.00)% | (6.94)% | 29.86% | 23.38% | (9.93)% | ||||
Ratios to Average Net Assets | |||||||||
Total expenses | 0.50% | 0.50% | 0.50% | 0.50% | 0.50% | ||||
Net investment income | 2.32% | 2.43% | 1.67% | 2.20% | 2.32% | ||||
Supplemental Data | |||||||||
Net assets, end of year (000) | $1,059,289 | $1,089,745 | $947,500 | $346,766 | $305,056 | ||||
Portfolio turnover rate(d) | 6% | 10% | 16% | 12% | 10% | ||||
(a) Based on average shares outstanding. |
|||||||||
(b) The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share transactions in relation to the fluctuating market values of the Fund’s underlying securities. | |||||||||
(c) Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | |||||||||
(d) Portfolio turnover rate excludes in-kind transactions. |
Premium/Discount Range | Number of Days | Percentage of Total Days | ||
Greater than 4.5% and Less than 5.0% | 1 | 0.27% | ||
Greater than 2.5% and Less than 3.0% | 2 | 0.53 | ||
Greater than 2.0% and Less than 2.5% | 2 | 0.53 | ||
Greater than 1.5% and Less than 2.0% | 7 | 1.86 | ||
Greater than 1.0% and Less than 1.5% | 25 | 6.63 | ||
Greater than 0.5% and Less than 1.0% | 51 | 13.53 | ||
Greater than 0.0% and Less than 0.5% | 110 | 29.17 | ||
At NAV | 1 | 0.27 | ||
Less than 0.0% and Greater than -0.5% | 91 | 24.13 | ||
Less than -0.5% and Greater than -1.0% | 49 | 12.99 | ||
Less than -1.0% and Greater than -1.5% | 16 | 4.24 | ||
Less than -1.5% and Greater than -2.0% | 7 | 1.86 | ||
Less than -2.0% and Greater than -2.5% | 9 | 2.39 | ||
Less than -2.5% and Greater than -3.0% | 3 | 0.80 | ||
Less than -4.0% and Greater than -4.5% | 1 | 0.27 | ||
Less than -6.0% | 2 | 0.53 | ||
377 | 100.00% |
Average Annual Total Returns | Cumulative Total Returns | ||||||
1 Year | 5 Years | 10 Years | 1 Year | 5 Years | 10 Years | ||
Fund NAV | (6.00)% | 4.77% | 5.76% | (6.00)% | 26.26% | 75.11% | |
Fund Market | (6.69) | 4.58 | 5.65 | (6.69) | 25.07 | 73.25 | |
Index | (5.51) | 5.37 | 6.34 | (5.51) | 29.89 | 84.94 |
Call: |
1-800-iShares
or 1-800-474-2737 (toll free)
Monday through Friday, 8:30 a.m. to 6:30 p.m. (Eastern time) |
Email: | iSharesETFs@blackrock.com |
Write: |
c/o
BlackRock Investments, LLC
1 University Square Drive, Princeton, NJ 08540 |
July 31, 2020 | |
2020 Prospectus |
• |
iShares Core S&P 500
ETF | IVV | NYSE ARCA
|
|
S-1 |
|
1 |
|
2 |
|
10 |
|
14 |
|
14 |
|
17 |
|
26 |
|
27 |
|
28 |
|
28 |
|
31 |
Ticker: IVV | Stock Exchange: NYSE Arca |
1 | The expense information in the table has been restated to reflect current fees. |
1 Year | 3 Years | 5 Years | 10 Years | |||
$3 | $10 | $17 | $39 |
1 | The Fund’s year-to-date return as of June 30, 2020 was -3.09%. |
One Year | Five Years | Ten Years | |||
(Inception Date: 5/15/2000) | |||||
Return Before Taxes | 31.44% | 11.65% | 13.50% | ||
Return After Taxes on Distributions1 | 30.78% | 11.10% | 13.01% | ||
Return After Taxes on Distributions and Sale of Fund Shares1 | 19.02% | 9.17% | 11.23% | ||
S&P 500® (Index returns do not reflect deductions for fees, expenses, or taxes) | 31.49% | 11.70% | 13.56% |
1 | After-tax returns in the table above are calculated using the historical highest individual U.S. federal marginal income tax rates and do not reflect the impact of state or local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown, and after-tax returns shown are not relevant to tax-exempt investors or investors who hold shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts (“IRAs”). Fund returns after taxes on distributions and sales of Fund shares are calculated assuming that an investor has sufficient capital gains of the same character from other investments to offset any capital losses from the sale of Fund shares. As a result, Fund returns after taxes on distributions and sales of Fund shares may exceed Fund returns before taxes and/or returns after taxes on distributions. |
■ | General Impact. This outbreak has resulted in travel restrictions, closed international borders, enhanced health screenings at ports of entry and elsewhere, disruption of and delays in healthcare service preparation and delivery, prolonged quarantines, cancellations, supply chain disruptions, lower consumer demand, temporary closures of stores, restaurants and other commercial establishments, layoffs, defaults and other significant economic impacts, as well as general concern and uncertainty. |
■ | Market Volatility. The outbreak has also resulted in extreme volatility, severe losses, and disruptions in markets which can adversely impact the Fund and its investments, including impairing hedging activity to the extent a Fund engages in such activity, as expected correlations between related markets or instruments may no longer apply. In addition, to the extent the Fund invests in short-term instruments that have negative yields, the Fund’s value may be impaired as a result. Certain |
issuers of equity securities have cancelled or announced the suspension of dividends. The outbreak has, and may continue to, negatively affect the credit ratings of some fixed income securities and their issuers. | |
■ | Market Closures. Certain local markets have been or may be subject to closures, and there can be no assurance that trading will continue in any local markets in which the Fund may invest, when any resumption of trading will occur or, once such markets resume trading, whether they will face further closures. Any suspension of trading in markets in which the Fund invests will have an impact on the Fund and its investments and will impact the Fund’s ability to purchase or sell securities in such markets. |
■ | Operational Risk. The outbreak could also impair the information technology and other operational systems upon which the Fund’s service providers, including BFA, rely, and could otherwise disrupt the ability of employees of the Fund’s service providers to perform critical tasks relating to the Fund, for example, due to the service providers’ employees performing tasks in alternate locations than under normal operating conditions or the illness of certain employees of the Fund’s service providers. |
■ | Governmental Interventions. Governmental and quasi-governmental authorities and regulators throughout the world have responded to the outbreak and the resulting economic disruptions with a variety of fiscal and monetary policy changes, including direct capital infusions into companies and other issuers, new monetary policy tools, and lower interest rates. An unexpected or sudden reversal of these policies, or the ineffectiveness of such policies, is likely to increase market volatility, which could adversely affect the Fund’s investments. |
■ | Pre-Existing Conditions. Public health crises caused by the outbreak may exacerbate other pre-existing political, social and economic risks in certain countries or globally. |
Approximate
Value of a Creation Unit |
Creation
Unit Size |
Standard
Creation/ Redemption Transaction Fee |
Maximum
Additional
Charge for Creations* |
Maximum
Additional
Charge for Redemptions* |
||||
$14,579,000 | 50,000 | $1,250 | 3.0% | 2.0% |
* | As a percentage of the net asset value per Creation Unit, inclusive, in the case of redemptions, of the standard redemption transaction fee. |
Premium/Discount Range | Number of Days | Percentage of Total Days | ||
Greater than 0.0% and Less than 0.5% | 158 | 41.91% | ||
At NAV | 65 | 17.24 | ||
Less than 0.0% and Greater than -0.5% | 154 | 40.85 | ||
377 | 100.00% |
Average Annual Total Returns | Cumulative Total Returns | ||||||
1 Year | 5 Years | 10 Years | 1 Year | 5 Years | 10 Years | ||
Fund NAV | (7.01)% | 6.68% | 10.47% | (7.01)% | 38.20% | 170.58% | |
Fund Market | (6.97) | 6.69 | 10.47 | (6.97) | 38.25 | 170.67 | |
Index | (6.98) | 6.73 | 10.53 | (6.98) | 38.47 | 172.10 |
Call: |
1-800-iShares
or 1-800-474-2737 (toll free)
Monday through Friday, 8:30 a.m. to 6:30 p.m. (Eastern time) |
Email: | iSharesETFs@blackrock.com |
Write: |
c/o
BlackRock Investments, LLC
1 University Square Drive, Princeton, NJ 08540 |
July 31, 2020 | |
2020 Prospectus |
• |
iShares Core S&P
Mid-Cap ETF | IJH | NYSE ARCA
|
|
S-1 |
|
1 |
|
2 |
|
11 |
|
15 |
|
15 |
|
18 |
|
27 |
|
28 |
|
29 |
|
29 |
|
32 |
Ticker: IJH | Stock Exchange: NYSE Arca |
1 | The expense information in the table has been restated to reflect current fees. |
1 Year | 3 Years | 5 Years | 10 Years | |||
$5 | $16 | $28 | $64 |
1 | The Fund’s year-to-date return as of June 30, 2020 was -12.80%. |
One Year | Five Years | Ten Years | |||
(Inception Date: 5/22/2000) | |||||
Return Before Taxes | 26.14% | 8.96% | 12.61% | ||
Return After Taxes on Distributions1 | 25.55% | 8.50% | 12.21% | ||
Return After Taxes on Distributions and Sale of Fund Shares1 | 15.73% | 6.96% | 10.45% | ||
S&P MidCap 400 (Index returns do not reflect deductions for fees, expenses, or taxes) | 26.20% | 9.03% | 12.72% |
1 | After-tax returns in the table above are calculated using the historical highest individual U.S. federal marginal income tax rates and do not reflect the impact of state or local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown, and after-tax returns shown are not relevant to tax-exempt investors or investors who hold shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts (“IRAs”). Fund returns after taxes on distributions and sales of Fund shares are calculated assuming that an investor has sufficient capital gains of the same character from other investments to offset any capital losses from the sale of Fund shares. As a result, Fund returns after taxes on distributions and sales of Fund shares may exceed Fund returns before taxes and/or returns after taxes on distributions. |
■ | General Impact. This outbreak has resulted in travel restrictions, closed international borders, enhanced health screenings at ports of entry and elsewhere, disruption of and delays in healthcare service preparation and delivery, prolonged quarantines, cancellations, supply chain disruptions, lower consumer demand, temporary closures of stores, restaurants and other commercial establishments, layoffs, defaults and other significant economic impacts, as well as general concern and uncertainty. |
■ | Market Volatility. The outbreak has also resulted in extreme volatility, severe losses, and disruptions in markets which can adversely impact the Fund and its investments, including impairing hedging activity to the extent a Fund engages in such activity, as expected correlations between related markets or instruments may no longer apply. In addition, to the extent the Fund invests in short-term instruments that have negative yields, the Fund’s value may be impaired as a result. Certain issuers of equity securities have cancelled or announced the suspension of dividends. The outbreak has, and may continue to, negatively affect the credit ratings of some fixed income securities and their issuers. |
■ | Market Closures. Certain local markets have been or may be subject to closures, and there can be no assurance that trading will continue in any local markets in which the Fund may invest, when any resumption of trading will occur or, once such markets resume trading, whether they will face further closures. Any suspension of trading in markets in which the Fund invests will have an impact on the Fund and its investments and will impact the Fund’s ability to purchase or sell securities in such markets. |
■ | Operational Risk. The outbreak could also impair the information technology and other operational systems upon which the Fund’s service providers, including BFA, rely, and could otherwise disrupt the ability of employees of the Fund’s service providers to perform critical tasks relating to the Fund, for example, due to the service providers’ employees performing tasks in alternate locations than under normal operating conditions or the illness of certain employees of the Fund’s service providers. |
■ | Governmental Interventions. Governmental and quasi-governmental authorities and regulators throughout the world have responded to the outbreak and the resulting economic disruptions with a variety of fiscal and monetary policy changes, including direct capital infusions into companies and other issuers, new monetary policy tools, and lower interest rates. An unexpected or sudden reversal of these policies, or the ineffectiveness of such policies, is likely to increase market volatility, which could adversely affect the Fund’s investments. |
■ | Pre-Existing Conditions. Public health crises caused by the outbreak may exacerbate other pre-existing political, social and economic risks in certain countries or globally. |
Approximate
Value of a Creation Unit |
Creation
Unit Size |
Standard
Creation/ Redemption Transaction Fee |
Maximum
Additional
Charge for Creations* |
Maximum
Additional
Charge for Redemptions* |
||||
$8,214,000 | 50,000 | $1,000 | 3.0% | 2.0% |
* | As a percentage of the net asset value per Creation Unit, inclusive, in the case of redemptions, of the standard redemption transaction fee. |
Premium/Discount Range | Number of Days | Percentage of Total Days | ||
Greater than 0.0% and Less than 0.5% | 183 | 48.53% | ||
At NAV | 35 | 9.28 | ||
Less than 0.0% and Greater than -0.5% | 157 | 41.65 | ||
Less than -0.5% and Greater than -1.0% | 1 | 0.27 | ||
Less than -1.0% and Greater than -1.5% | 1 | 0.27 | ||
377 | 100.00% |
Average Annual Total Returns | Cumulative Total Returns | ||||||
1 Year | 5 Years | 10 Years | 1 Year | 5 Years | 10 Years | ||
Fund NAV | (22.53)% | 0.50% | 7.78% | (22.53)% | 2.52% | 111.50% | |
Fund Market | (22.60) | 0.49 | 7.78 | (22.60) | 2.48 | 111.48 | |
Index | (22.51) | 0.56 | 7.88 | (22.51) | 2.84 | 113.42 |
Call: |
1-800-iShares
or 1-800-474-2737 (toll free)
Monday through Friday, 8:30 a.m. to 6:30 p.m. (Eastern time) |
Email: | iSharesETFs@blackrock.com |
Write: |
c/o
BlackRock Investments, LLC
1 University Square Drive, Princeton, NJ 08540 |
July 31, 2020 | |
2020 Prospectus |
• |
iShares Core S&P
Small-Cap ETF | IJR | NYSE ARCA
|
|
S-1 |
|
1 |
|
2 |
|
11 |
|
15 |
|
15 |
|
18 |
|
26 |
|
28 |
|
29 |
|
29 |
|
32 |
Ticker: IJR | Stock Exchange: NYSE Arca |
1 | The expense information in the table has been restated to reflect current fees. |
1 Year | 3 Years | 5 Years | 10 Years | |||
$6 | $19 | $34 | $77 |
1 | The Fund’s year-to-date return as of June 30, 2020 was -17.84%. |
One Year | Five Years | Ten Years | |||
(Inception Date: 5/22/2000) | |||||
Return Before Taxes | 22.79% | 9.55% | 13.31% | ||
Return After Taxes on Distributions1 | 22.27% | 9.12% | 12.93% | ||
Return After Taxes on Distributions and Sale of Fund Shares1 | 13.70% | 7.44% | 11.08% | ||
S&P SmallCap 600 (Index returns do not reflect deductions for fees, expenses, or taxes) | 22.78% | 9.56% | 13.35% |
1 | After-tax returns in the table above are calculated using the historical highest individual U.S. federal marginal income tax rates and do not reflect the impact of state or local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown, and after-tax returns shown are not relevant to tax-exempt investors or investors who hold shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts (“IRAs”). Fund returns after taxes on distributions and sales of Fund shares are calculated assuming that an investor has sufficient capital gains of the same character from other investments to offset any capital losses from the sale of Fund shares. As a result, Fund returns after taxes on distributions and sales of Fund shares may exceed Fund returns before taxes and/or returns after taxes on distributions. |
■ | General Impact. This outbreak has resulted in travel restrictions, closed international borders, enhanced health screenings at ports of entry and elsewhere, disruption of and delays in healthcare service preparation and delivery, prolonged quarantines, cancellations, supply chain disruptions, lower consumer demand, temporary closures of stores, restaurants and other commercial establishments, layoffs, defaults and other significant economic impacts, as well as general concern and uncertainty. |
■ | Market Volatility. The outbreak has also resulted in extreme volatility, severe losses, and disruptions in markets which can adversely impact the Fund and its investments, including impairing hedging activity to the extent a Fund engages in such activity, as expected correlations between related markets or instruments may no longer apply. In addition, to the extent the Fund invests in short-term instruments that have negative yields, the Fund’s value may be impaired as a result. Certain issuers of equity securities have cancelled or announced the suspension of dividends. The outbreak has, and may continue to, negatively affect the credit ratings of some fixed income securities and their issuers. |
■ | Market Closures. Certain local markets have been or may be subject to closures, and there can be no assurance that trading will continue in any local markets in which the Fund may invest, when any resumption of trading will occur or, once such markets resume trading, whether they will face further closures. Any suspension of trading in markets in which the Fund invests will have an impact on the Fund and its investments and will impact the Fund’s ability to purchase or sell securities in such markets. |
■ | Operational Risk. The outbreak could also impair the information technology and other operational systems upon which the Fund’s service providers, including BFA, rely, and could otherwise disrupt the ability of employees of the Fund’s service providers to perform critical tasks relating to the Fund, for example, due to the service providers’ employees performing tasks in alternate locations than under normal operating conditions or the illness of certain employees of the Fund’s service providers. |
■ | Governmental Interventions. Governmental and quasi-governmental authorities and regulators throughout the world have responded to the outbreak and the resulting economic disruptions with a variety of fiscal and monetary policy changes, including direct capital infusions into companies and other issuers, new monetary policy tools, and lower interest rates. An unexpected or sudden reversal of these policies, or the ineffectiveness of such policies, is likely to increase market volatility, which could adversely affect the Fund’s investments. |
■ | Pre-Existing Conditions. Public health crises caused by the outbreak may exacerbate other pre-existing political, social and economic risks in certain countries or globally. |
Approximate
Value of a Creation Unit |
Creation
Unit Size |
Standard
Creation/ Redemption Transaction Fee |
Maximum
Additional
Charge for Creations* |
Maximum
Additional
Charge for Redemptions* |
||||
$3,169,500 | 50,000 | $1,500 | 3.0% | 2.0% |
* | As a percentage of the net asset value per Creation Unit, inclusive, in the case of redemptions, of the standard redemption transaction fee. |
Premium/Discount Range | Number of Days | Percentage of Total Days | ||
Greater than 0.5% and Less than 1.0% | 1 | 0.27% | ||
Greater than 0.0% and Less than 0.5% | 175 | 46.41 | ||
At NAV | 30 | 7.96 | ||
Less than 0.0% and Greater than -0.5% | 169 | 44.82 | ||
Less than -0.5% and Greater than -1.0% | 1 | 0.27 | ||
Less than -1.0% and Greater than -1.5% | 1 | 0.27 | ||
377 | 100.00% |
Average Annual Total Returns | Cumulative Total Returns | ||||||
1 Year | 5 Years | 10 Years | 1 Year | 5 Years | 10 Years | ||
Fund NAV | (25.89)% | 0.45% | 8.02% | (25.89)% | 2.26% | 116.39% | |
Fund Market | (26.07) | 0.40 | 8.01 | (26.07) | 2.03 | 116.00 | |
Index | (25.89) | 0.45 | 8.06 | (25.89) | 2.28 | 117.16 |
Call: |
1-800-iShares
or 1-800-474-2737 (toll free)
Monday through Friday, 8:30 a.m. to 6:30 p.m. (Eastern time) |
Email: | iSharesETFs@blackrock.com |
Write: |
c/o
BlackRock Investments, LLC
1 University Square Drive, Princeton, NJ 08540 |
July 31, 2020 | |
2020 Prospectus |
• |
iShares Core S&P
Total U.S. Stock Market ETF | ITOT | NYSE ARCA
|
|
S-1 |
|
1 |
|
2 |
|
10 |
|
15 |
|
15 |
|
18 |
|
27 |
|
28 |
|
29 |
|
29 |
|
32 |
Ticker: ITOT | Stock Exchange: NYSE Arca |
1 | The amount rounded to 0.00%. |
1 Year | 3 Years | 5 Years | 10 Years | |||
$3 | $10 | $17 | $39 |
1 | The Fund’s year-to-date return as of June 30, 2020 was -3.52%. |
One Year | Five Years | Ten Years | |||
(Inception Date: 1/20/2004) | |||||
Return Before Taxes | 30.87% | 11.31% | 13.36% | ||
Return After Taxes on Distributions1 | 30.21% | 10.76% | 12.89% | ||
Return After Taxes on Distributions and Sale of Fund Shares1 | 18.63% | 8.87% | 11.11% | ||
S&P Total Market Index (TMI) (Index returns do not reflect deductions for fees, expenses, or taxes)2 | 30.90% | 11.32% | 13.45% |
1 | After-tax returns in the table above are calculated using the historical highest individual U.S. federal marginal income tax rates and do not reflect the impact of state or local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown, and after-tax returns shown are not relevant to tax-exempt investors or investors who hold shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts (“IRAs”). Fund returns after taxes on distributions and sales of Fund shares are calculated assuming that an investor has sufficient capital gains of the same character from other investments to offset any capital losses from the sale of Fund shares in cases where the shares have decreased in value during the period. As a result, Fund returns after taxes on distributions and sales of Fund shares may exceed Fund returns before taxes and/or returns after taxes on distributions. |
2 | Index returns through December 20, 2015 reflect the performance of the S&P Composite 1500®. Index returns beginning on December 21, 2015 reflect the performance of the S&P Total Market Index (TMI), which, effective as of December 21, 2015, replaced the S&P Composite 1500 as the underlying index of the Fund. |
■ | General Impact. This outbreak has resulted in travel restrictions, closed international borders, enhanced health screenings at ports of entry and elsewhere, disruption of and delays in healthcare service preparation and delivery, prolonged quarantines, cancellations, supply chain disruptions, lower consumer demand, temporary closures of stores, restaurants and other commercial establishments, layoffs, defaults and other significant economic impacts, as well as general concern and uncertainty. |
■ | Market Volatility. The outbreak has also resulted in extreme volatility, severe losses, and disruptions in markets which can adversely impact the Fund and its investments, including impairing hedging activity to the extent a Fund engages in such activity, as expected correlations between related markets or instruments may no longer apply. In addition, to the extent the Fund invests in short-term instruments that have negative yields, the Fund’s value may be impaired as a result. Certain |
issuers of equity securities have cancelled or announced the suspension of dividends. The outbreak has, and may continue to, negatively affect the credit ratings of some fixed income securities and their issuers. | |
■ | Market Closures. Certain local markets have been or may be subject to closures, and there can be no assurance that trading will continue in any local markets in which the Fund may invest, when any resumption of trading will occur or, once such markets resume trading, whether they will face further closures. Any suspension of trading in markets in which the Fund invests will have an impact on the Fund and its investments and will impact the Fund’s ability to purchase or sell securities in such markets. |
■ | Operational Risk. The outbreak could also impair the information technology and other operational systems upon which the Fund’s service providers, including BFA, rely, and could otherwise disrupt the ability of employees of the Fund’s service providers to perform critical tasks relating to the Fund, for example, due to the service providers’ employees performing tasks in alternate locations than under normal operating conditions or the illness of certain employees of the Fund’s service providers. |
■ | Governmental Interventions. Governmental and quasi-governmental authorities and regulators throughout the world have responded to the outbreak and the resulting economic disruptions with a variety of fiscal and monetary policy changes, including direct capital infusions into companies and other issuers, new monetary policy tools, and lower interest rates. An unexpected or sudden reversal of these policies, or the ineffectiveness of such policies, is likely to increase market volatility, which could adversely affect the Fund’s investments. |
■ | Pre-Existing Conditions. Public health crises caused by the outbreak may exacerbate other pre-existing political, social and economic risks in certain countries or globally. |
Approximate
Value of a Creation Unit |
Creation
Unit Size |
Standard
Creation/ Redemption Transaction Fee |
Maximum
Additional
Charge for Creations* |
Maximum
Additional
Charge for Redemptions* |
||||
$3,238,500 | 50,000 | $3,000 | 3.0% | 2.0% |
* | As a percentage of the net asset value per Creation Unit, inclusive, in the case of redemptions, of the standard redemption transaction fee. |
iShares Core S&P Total U.S. Stock Market ETF | |||||||||
Year
Ended
03/31/20 |
Year
Ended
03/31/19 |
Year
Ended
03/31/18 |
Year
Ended
03/31/17(a) |
Year
Ended
03/31/16(a) |
|||||
Net asset value, beginning of year | $ 64.40 | $ 60.42 | $ 54.02 | $ 46.65 | $ 47.35 | ||||
Net investment income(b) | 1.27 | 1.19 | 1.09 | 1.00 | 0.96 | ||||
Net realized and unrealized gain (loss)(c) | (7.09) | 4.00 | 6.37 | 7.33 | (0.73) | ||||
Net increase (decrease) from investment operations | (5.82) | 5.19 | 7.46 | 8.33 | 0.23 | ||||
Distributions (d) | |||||||||
From net investment income | (1.39) | (1.21) | (1.06) | (0.96) | (0.93) | ||||
Total distributions | (1.39) | (1.21) | (1.06) | (0.96) | (0.93) | ||||
Net asset value, end of year | $ 57.19 | $ 64.40 | $ 60.42 | $ 54.02 | $ 46.65 | ||||
Total Return | |||||||||
Based on net asset value | (9.28)% | 8.68% | 13.88% | 18.02% | 0.51% | ||||
Ratios to Average Net Assets | |||||||||
Total expenses | 0.03% | 0.03% | 0.03% | 0.03% | 0.05% | ||||
Net investment income | 1.88% | 1.90% | 1.85% | 1.99% | 2.08% | ||||
Supplemental Data | |||||||||
Net assets, end of year (000) | $21,439,033 | $18,750,686 | $12,948,631 | $8,035,118 | $3,699,212 | ||||
Portfolio turnover rate(e) | 4% | 6% | 8% | 8% | 14% | ||||
(a) Per share amounts reflect a two-for-one stock split effective after the close of trading on July 22, 2016. |
|||||||||
(b) Based on average shares outstanding. | |||||||||
(c) The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share transactions in relation to the fluctuating market values of the Fund’s underlying securities. | |||||||||
(d) Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | |||||||||
(e) Portfolio turnover rate excludes in-kind transactions. |
Premium/Discount Range | Number of Days | Percentage of Total Days | ||
Greater than 0.5% and Less than 1.0% | 2 | 0.53% | ||
Greater than 0.0% and Less than 0.5% | 142 | 37.67 | ||
At NAV | 81 | 21.48 | ||
Less than 0.0% and Greater than -0.5% | 152 | 40.32 | ||
377 | 100.00% |
Average Annual Total Returns | Cumulative Total Returns | ||||||
1 Year | 5 Years | 10 Years | 1 Year | 5 Years | 10 Years | ||
Fund NAV | (9.28)% | 5.90% | 10.11% | (9.28)% | 33.19% | 161.92% | |
Fund Market | (9.27) | 5.90 | 10.11 | (9.27) | 33.17 | 161.91 | |
Index | (9.27) | 5.91 | 10.19 | (9.27) | 33.24 | 163.79 |
Index performance through December 20, 2015 reflects the performance of the S&P Composite 1500®. Index performance beginning on December 21, 2015 reflects the performance of the S&P Total Market Index, which effective as of December 21, 2015 replaced the S&P Composite 1500 as the underlying index of the Fund. |
Call: |
1-800-iShares
or 1-800-474-2737 (toll free)
Monday through Friday, 8:30 a.m. to 6:30 p.m. (Eastern time) |
Email: | iSharesETFs@blackrock.com |
Write: |
c/o
BlackRock Investments, LLC
1 University Square Drive, Princeton, NJ 08540 |
July 31, 2020 | |
2020 Prospectus |
• |
iShares Core S&P U.S.
Growth ETF | IUSG | NASDAQ
|
|
S-1 |
|
1 |
|
2 |
|
10 |
|
14 |
|
14 |
|
17 |
|
26 |
|
27 |
|
28 |
|
28 |
|
31 |
Ticker: IUSG | Stock Exchange: NASDAQ |
1 | The amount rounded to 0.00%. |
1 Year | 3 Years | 5 Years | 10 Years | |||
$4 | $13 | $23 | $51 |
1 | The Fund’s year-to-date return as of June 30, 2020 was 6.98%. |
One Year | Five Years | Ten Years | |||
(Inception Date: 7/24/2000) | |||||
Return Before Taxes | 30.78% | 13.19% | 14.41% | ||
Return After Taxes on Distributions1 | 30.22% | 12.79% | 14.07% | ||
Return After Taxes on Distributions and Sale of Fund Shares1 | 18.55% | 10.48% | 12.10% | ||
S&P 900 Growth Index (Index returns do not reflect deductions for fees, expenses, or taxes)2 | 30.83% | 13.23% | 14.55% |
1 | After-tax returns in the table above are calculated using the historical highest individual U.S. federal marginal income tax rates and do not reflect the impact of state or local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown, and after-tax returns shown are not relevant to tax-exempt investors or investors who hold shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts (“IRAs”). Fund returns after taxes on distributions and sales of Fund shares are calculated assuming that an investor has sufficient capital gains of the same character from other investments to offset any capital losses from the sale of Fund shares. As a result, Fund returns after taxes on distributions and sales of Fund shares may exceed Fund returns before taxes and/or returns after taxes on distributions. |
2 | Index performance through January 22, 2017 reflects the performance of the Russell 3000® Growth Index. Index performance beginning on January 23, 2017 reflects the performance of the S&P 900 Growth Index. |
■ | General Impact. This outbreak has resulted in travel restrictions, closed international borders, enhanced health screenings at ports of entry and elsewhere, disruption of and delays in healthcare service preparation and delivery, prolonged quarantines, cancellations, supply chain disruptions, lower consumer demand, temporary closures of stores, restaurants and other commercial establishments, layoffs, defaults and other significant economic impacts, as well as general concern and uncertainty. |
■ | Market Volatility. The outbreak has also resulted in extreme volatility, severe losses, and disruptions in markets which can adversely impact the Fund and its investments, including impairing hedging activity to the extent a Fund engages in such activity, as expected correlations between related markets or instruments may no longer apply. In addition, to the extent the Fund invests in short-term instruments that have negative yields, the Fund’s value may be impaired as a result. Certain issuers of equity securities have cancelled or announced the suspension of dividends. The outbreak has, and may continue to, negatively affect the credit ratings of some fixed income securities and their issuers. |
■ | Market Closures. Certain local markets have been or may be subject to closures, and there can be no assurance that trading will continue in any local markets in which the Fund may invest, when any resumption of trading will occur or, once such markets resume trading, whether they will face further closures. Any suspension of trading in markets in which the Fund invests will have an impact on the Fund and its investments and will impact the Fund’s ability to purchase or sell securities in such markets. |
■ | Operational Risk. The outbreak could also impair the information technology and other operational systems upon which the Fund’s service providers, including BFA, |
rely, and could otherwise disrupt the ability of employees of the Fund’s service providers to perform critical tasks relating to the Fund, for example, due to the service providers’ employees performing tasks in alternate locations than under normal operating conditions or the illness of certain employees of the Fund’s service providers. | |
■ | Governmental Interventions. Governmental and quasi-governmental authorities and regulators throughout the world have responded to the outbreak and the resulting economic disruptions with a variety of fiscal and monetary policy changes, including direct capital infusions into companies and other issuers, new monetary policy tools, and lower interest rates. An unexpected or sudden reversal of these policies, or the ineffectiveness of such policies, is likely to increase market volatility, which could adversely affect the Fund’s investments. |
■ | Pre-Existing Conditions. Public health crises caused by the outbreak may exacerbate other pre-existing political, social and economic risks in certain countries or globally. |
Approximate
Value of a Creation Unit |
Creation
Unit Size |
Standard
Creation/ Redemption Transaction Fee |
Maximum
Additional
Charge for Creations* |
Maximum
Additional
Charge for Redemptions* |
||||
$3,270,500 | 50,000 | $3,000 | 3.0% | 2.0% |
* | As a percentage of the net asset value per Creation Unit, inclusive, in the case of redemptions, of the standard redemption transaction fee. |
iShares Core S&P U.S. Growth ETF | |||||||||
Year
Ended
03/31/20 |
Year
Ended
03/31/19 |
Year
Ended
03/31/18 |
Year
Ended
03/31/17(a) |
Year
Ended
03/31/16(a) |
|||||
Net asset value, beginning of year | $ 60.31 | $ 54.56 | $ 46.36 | $ 40.53 | $ 40.55 | ||||
Net investment income(b) | 0.92 | 0.81 | 0.76 | 0.65 | 0.61 | ||||
Net realized and unrealized gain (loss)(c) | (2.97) | 5.68 | 8.16 | 5.77 | (0.08) | ||||
Net increase (decrease) from investment operations | (2.05) | 6.49 | 8.92 | 6.42 | 0.53 | ||||
Distributions (d) | |||||||||
From net investment income | (1.10) | (0.74) | (0.72) | (0.59) | (0.55) | ||||
Total distributions | (1.10) | (0.74) | (0.72) | (0.59) | (0.55) | ||||
Net asset value, end of year | $ 57.16 | $ 60.31 | $ 54.56 | $ 46.36 | $ 40.53 | ||||
Total Return | |||||||||
Based on net asset value | (3.54)% | 11.95% | 19.33% | 15.98% | 1.31% | ||||
Ratios to Average Net Assets | |||||||||
Total expenses | 0.04% | 0.04% | 0.05% | 0.06% | 0.08% | ||||
Total expenses after fees waived | 0.04% | 0.04% | 0.05% | 0.06% | 0.08% | ||||
Net investment income | 1.44% | 1.41% | 1.46% | 1.51% | 1.52% | ||||
Supplemental Data | |||||||||
Net assets, end of year (000) | $6,893,329 | $5,985,790 | $3,693,673 | $1,657,371 | $867,283 | ||||
Portfolio turnover rate(e) | 35% | 31% | 24% | 43% | 14% | ||||
(a) Per share amounts reflect a two-for-one stock split effective after the close of trading on July 22, 2016. |
|||||||||
(b) Based on average shares outstanding. | |||||||||
(c) The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share transactions in relation to the fluctuating market values of the Fund’s underlying securities. | |||||||||
(d) Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | |||||||||
(e) Portfolio turnover rate excludes in-kind transactions. |
Premium/Discount Range | Number of Days | Percentage of Total Days | ||
Greater than 0.0% and Less than 0.5% | 155 | 41.12% | ||
At NAV | 90 | 23.87 | ||
Less than 0.0% and Greater than -0.5% | 132 | 35.01 | ||
377 | 100.00% |
Average Annual Total Returns | Cumulative Total Returns | ||||||
1 Year | 5 Years | 10 Years | 1 Year | 5 Years | 10 Years | ||
Fund NAV | (3.54)% | 8.65% | 12.01% | (3.54)% | 51.42% | 211.00% | |
Fund Market | (3.52) | 8.66 | 12.01 | (3.52) | 51.46 | 210.97 | |
Index | (3.43) | 8.71 | 12.15 | (3.43) | 51.82 | 214.85 |
Index performance through January 22, 2017 reflects the performance of the Russell 3000® Growth Index. Index performance beginning on January 23, 2017 reflects the performance of the S&P 900 Growth Index. |
Call: |
1-800-iShares
or 1-800-474-2737 (toll free)
Monday through Friday, 8:30 a.m. to 6:30 p.m. (Eastern time) |
Email: | iSharesETFs@blackrock.com |
Write: |
c/o
BlackRock Investments, LLC
1 University Square Drive, Princeton, NJ 08540 |
July 31, 2020 | |
2020 Prospectus |
• |
iShares Core S&P U.S.
Value ETF | IUSV | NASDAQ
|
|
S-1 |
|
1 |
|
2 |
|
10 |
|
15 |
|
16 |
|
19 |
|
28 |
|
29 |
|
30 |
|
30 |
|
33 |
Ticker: IUSV | Stock Exchange: NASDAQ |
1 | The amount rounded to 0.00%. |
1 Year | 3 Years | 5 Years | 10 Years | |||
$4 | $13 | $23 | $51 |
1 | The Fund’s year-to-date return as of June 30, 2020 was -15.87%. |
One Year | Five Years | Ten Years | |||
(Inception Date: 7/24/2000) | |||||
Return Before Taxes | 31.48% | 9.31% | 12.16% | ||
Return After Taxes on Distributions1 | 30.72% | 8.67% | 11.61% | ||
Return After Taxes on Distributions and Sale of Fund Shares1 | 19.06% | 7.22% | 10.03% | ||
S&P 900 Value Index (Index returns do not reflect deductions for fees, expenses, or taxes)2 | 31.52% | 9.31% | 12.28% |
1 | After-tax returns in the table above are calculated using the historical highest individual U.S. federal marginal income tax rates and do not reflect the impact of state or local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown, and after-tax returns shown are not relevant to tax-exempt investors or investors who hold shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts (“IRAs”). Fund returns after taxes on distributions and sales of Fund shares are calculated assuming that an investor has sufficient capital gains of the same character from other investments to offset any capital losses from the sale of Fund shares. As a result, Fund returns after taxes on distributions and sales of Fund shares may exceed Fund returns before taxes and/or returns after taxes on distributions. |
2 | Index performance through January 22, 2017 reflects the performance of the Russell 3000® Value Index. Index performance beginning on January 23, 2017 reflects the performance of the S&P 900 Value Index. |
■ | General Impact. This outbreak has resulted in travel restrictions, closed international borders, enhanced health screenings at ports of entry and elsewhere, disruption of and delays in healthcare service preparation and delivery, prolonged quarantines, cancellations, supply chain disruptions, lower consumer demand, temporary closures of stores, restaurants and other commercial establishments, layoffs, defaults and other significant economic impacts, as well as general concern and uncertainty. |
■ | Market Volatility. The outbreak has also resulted in extreme volatility, severe losses, and disruptions in markets which can adversely impact the Fund and its investments, including impairing hedging activity to the extent a Fund engages in such activity, as expected correlations between related markets or instruments may no longer apply. In addition, to the extent the Fund invests in short-term instruments that have negative yields, the Fund’s value may be impaired as a result. Certain issuers of equity securities have cancelled or announced the suspension of dividends. The outbreak has, and may continue to, negatively affect the credit ratings of some fixed income securities and their issuers. |
■ | Market Closures. Certain local markets have been or may be subject to closures, and there can be no assurance that trading will continue in any local markets in which the Fund may invest, when any resumption of trading will occur or, once such markets resume trading, whether they will face further closures. Any suspension of trading in markets in which the Fund invests will have an impact on the Fund and its investments and will impact the Fund’s ability to purchase or sell securities in such markets. |
■ | Operational Risk. The outbreak could also impair the information technology and other operational systems upon which the Fund’s service providers, including BFA, rely, and could otherwise disrupt the ability of employees of the Fund’s service providers to perform critical tasks relating to the Fund, for example, due to the service providers’ employees performing tasks in alternate locations than under normal operating conditions or the illness of certain employees of the Fund’s service providers. |
■ | Governmental Interventions. Governmental and quasi-governmental authorities and regulators throughout the world have responded to the outbreak and the resulting |
economic disruptions with a variety of fiscal and monetary policy changes, including direct capital infusions into companies and other issuers, new monetary policy tools, and lower interest rates. An unexpected or sudden reversal of these policies, or the ineffectiveness of such policies, is likely to increase market volatility, which could adversely affect the Fund’s investments. | |
■ | Pre-Existing Conditions. Public health crises caused by the outbreak may exacerbate other pre-existing political, social and economic risks in certain countries or globally. |
Approximate
Value of a Creation Unit |
Creation
Unit Size |
Standard
Creation/ Redemption Transaction Fee |
Maximum
Additional
Charge for Creations* |
Maximum
Additional
Charge for Redemptions* |
||||
$2,564,000 | 50,000 | $3,000 | 3.0% | 2.0% |
* | As a percentage of the net asset value per Creation Unit, inclusive, in the case of redemptions, of the standard redemption transaction fee. |
iShares Core S&P U.S. Value ETF | |||||||||
Year
Ended
03/31/20 |
Year
Ended
03/31/19 |
Year
Ended
03/31/18 |
Year
Ended
03/31/17(a) |
Year
Ended
03/31/16(a) |
|||||
Net asset value, beginning of year | $ 54.82 | $ 53.08 | $ 50.45 | $ 42.89 | $ 44.94 | ||||
Net investment income(b) | 1.45 | 1.37 | 1.28 | 1.12 | 1.04 | ||||
Net realized and unrealized gain (loss)(c) | (8.57) | 1.68 | 2.51 | 7.45 | (1.97) | ||||
Net increase (decrease) from investment operations | (7.12) | 3.05 | 3.79 | 8.57 | (0.93) | ||||
Distributions (d) | |||||||||
From net investment income | (1.47) | (1.31) | (1.16) | (1.01) | (1.12) | ||||
Total distributions | (1.47) | (1.31) | (1.16) | (1.01) | (1.12) | ||||
Net asset value, end of year | $ 46.23 | $ 54.82 | $ 53.08 | $ 50.45 | $ 42.89 | ||||
Total Return | |||||||||
Based on net asset value | (13.34)% | 5.83% | 7.55% | 20.18% | (2.05)% | ||||
Ratios to Average Net Assets | |||||||||
Total expenses | 0.04% | 0.04% | 0.05% | 0.06% | 0.08% | ||||
Total expenses after fees waived | 0.04% | 0.04% | 0.05% | 0.06% | 0.08% | ||||
Net investment income | 2.52% | 2.53% | 2.42% | 2.36% | 2.41% | ||||
Supplemental Data | |||||||||
Net assets, end of year (000) | $5,270,383 | $5,208,349 | $3,434,150 | $1,692,709 | $720,541 | ||||
Portfolio turnover rate(e) | 34% | 35% | 27% | 49% | 18% | ||||
(a) Per share amounts reflect a two-for-one stock split effective after the close of trading on July 22, 2016. |
|||||||||
(b) Based on average shares outstanding. | |||||||||
(c) The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share transactions in relation to the fluctuating market values of the Fund’s underlying securities. | |||||||||
(d) Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | |||||||||
(e) Portfolio turnover rate excludes in-kind transactions. |
Premium/Discount Range | Number of Days | Percentage of Total Days | ||
Greater than 0.0% and Less than 0.5% | 184 | 48.80% | ||
At NAV | 70 | 18.57 | ||
Less than 0.0% and Greater than -0.5% | 123 | 32.63 | ||
377 | 100.00% |
Average Annual Total Returns | Cumulative Total Returns | ||||||
1 Year | 5 Years | 10 Years | 1 Year | 5 Years | 10 Years | ||
Fund NAV | (13.34)% | 3.03% | 8.10% | (13.34)% | 16.11% | 117.99% | |
Fund Market | (13.32) | 3.03 | 8.11 | (13.32) | 16.10 | 118.03 | |
Index | (13.32) | 3.04 | 8.22 | (13.32) | 16.15 | 120.31 |
Index performance through January 22, 2017 reflects the performance of the Russell 3000® Value Index. Index performance beginning on January 23, 2017 reflects the performance of the S&P 900 Value Index. |
Call: |
1-800-iShares
or 1-800-474-2737 (toll free)
Monday through Friday, 8:30 a.m. to 6:30 p.m. (Eastern time) |
Email: | iSharesETFs@blackrock.com |
Write: |
c/o
BlackRock Investments, LLC
1 University Square Drive, Princeton, NJ 08540 |
July 31, 2020 | |
2020 Prospectus |
• |
iShares Currency Hedged
JPX-Nikkei 400 ETF | HJPX | NYSE ARCA
|
|
S-1 |
|
1 |
|
2 |
|
20 |
|
23 |
|
23 |
|
24 |
|
27 |
|
37 |
|
38 |
|
39 |
|
39 |
|
41 |
Ticker: HJPX | Stock Exchange: NYSE Arca |
Annual
Fund Operating Expenses
(ongoing expenses that you pay each year as a percentage of the value of your investments) |
||||||||||||
Management
Fees |
Distribution
and
Service (12b-1) Fees |
Other
Expenses |
Acquired
Fund Fees
and Expenses |
Total
Annual
Fund Operating Expenses |
Fee Waivers |
Total
Annual
Fund Operating Expenses After Fee Waivers |
||||||
0.59% | None | None | 0.48% | 1.07% | (0.59)% | 0.48% |
1 Year | 3 Years | 5 Years | 10 Years | |||
$49 | $154 | $269 | $1,005 |
1 | The Fund’s year-to-date return as of June 30, 2020 was -6.31%. |
One Year |
Since
Fund
Inception |
||
(Inception Date: 9/29/2015) | |||
Return Before Taxes | 21.15% | 7.63% | |
Return After Taxes on Distributions1 | 20.76% | 7.24% | |
Return After Taxes on Distributions and Sale of Fund Shares1 | 13.07% | 6.04% | |
JPX-Nikkei 400 Net Total Return USD Hedged Index (Index returns do not reflect deductions for fees, expenses, or taxes) | 21.40% | 8.71% |
1 | After-tax returns in the table above are calculated using the historical highest individual U.S. federal marginal income tax rates and do not reflect the impact of state or local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown, and after-tax returns shown are not relevant to tax-exempt investors or investors who hold shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts (“IRAs”). Fund returns after taxes on distributions and sales of Fund shares are calculated assuming that an investor has sufficient capital gains of the same character from other investments to offset any capital losses from the sale of Fund shares. As a result, Fund returns after taxes on distributions and sales of Fund shares may exceed Fund returns before taxes and/or returns after taxes on distributions. |
■ | General Impact. This outbreak has resulted in travel restrictions, closed international borders, enhanced health screenings at ports of entry and elsewhere, disruption of and delays in healthcare service preparation and delivery, prolonged quarantines, cancellations, supply chain disruptions, lower consumer demand, temporary closures of stores, restaurants and other commercial establishments, layoffs, defaults and other significant economic impacts, as well as general concern and uncertainty. |
■ | Market Volatility. The outbreak has also resulted in extreme volatility, severe losses, and disruptions in markets which can adversely impact the Fund and its investments, including impairing hedging activity to the extent a Fund engages in such activity, as expected correlations between related markets or instruments may no longer apply. In addition, to the extent the Fund invests in short-term instruments that have negative yields, the Fund’s value may be impaired as a result. Certain issuers of equity securities have cancelled or announced the suspension of dividends. The outbreak has, and may continue to, negatively affect the credit ratings of some fixed income securities and their issuers. |
■ | Market Closures. Certain local markets have been or may be subject to closures, and there can be no assurance that trading will continue in any local markets in which the Fund may invest, when any resumption of trading will occur or, once such markets resume trading, whether they will face further closures. Any suspension of trading in markets in which the Fund invests will have an impact on the Fund and its investments and will impact the Fund’s ability to purchase or sell securities in such markets. |
■ | Operational Risk. The outbreak could also impair the information technology and other operational systems upon which the Fund’s service providers, including BFA, rely, and could otherwise disrupt the ability of employees of the Fund’s service providers to perform critical tasks relating to the Fund, for example, due to the |
service providers’ employees performing tasks in alternate locations than under normal operating conditions or the illness of certain employees of the Fund’s service providers. | |
■ | Governmental Interventions. Governmental and quasi-governmental authorities and regulators throughout the world have responded to the outbreak and the resulting economic disruptions with a variety of fiscal and monetary policy changes, including direct capital infusions into companies and other issuers, new monetary policy tools, and lower interest rates. An unexpected or sudden reversal of these policies, or the ineffectiveness of such policies, is likely to increase market volatility, which could adversely affect the Fund’s investments. |
■ | Pre-Existing Conditions. Public health crises caused by the outbreak may exacerbate other pre-existing political, social and economic risks in certain countries or globally. |
■ | A lack of market liquidity and market efficiency; |
■ | Greater securities price volatility; |
■ | Exchange rate fluctuations and exchange controls; |
■ | Less availability of public information about issuers; |
■ | Limitations on foreign ownership of securities; |
■ | Imposition of withholding or other taxes; |
■ | Imposition of restrictions on the expatriation of the funds or other assets of the Fund; |
■ | Higher transaction and custody costs and delays in settlement procedures; |
■ | Difficulties in enforcing contractual obligations; |
■ | Lower levels of regulation of the securities markets; |
■ | Weaker accounting, disclosure and reporting requirements; and |
■ | Legal principles relating to corporate governance, directors’ fiduciary duties and liabilities and stockholders’ rights in markets in which the Fund invests may differ from and/or may not be as extensive or protective as those that apply in the U.S. |
Approximate
Value of a Creation Unit |
Creation
Unit Size |
Standard
Creation/ Redemption Transaction Fee |
Maximum
Additional
Charge for Creations* |
Maximum
Additional
Charge for Redemptions* |
||||
$1,297,000 | 50,000 | $100 | 3.0% | 2.0% |
* | As a percentage of the net asset value per Creation Unit, inclusive, in the case of redemptions, of the standard redemption transaction fee. |
iShares Currency Hedged JPX-Nikkei 400 ETF | |||||||||
Year
Ended
03/31/20 |
Year
Ended
03/31/19 |
Year
Ended
03/31/18 |
Year
Ended
03/31/17 |
Period
From
09/29/15(a) to 03/31/16 |
|||||
Net asset value, beginning of period | $27.81 | $29.22 | $25.57 | $23.03 | $23.88 | ||||
Net investment income(b) | 0.58 | 0.41 | 0.48 | 0.47 | 0.23 | ||||
Net realized and unrealized gain (loss)(c) | (3.12) | (1.41) | 3.63 | 2.57 | (0.69) | ||||
Net increase (decrease) from investment operations | (2.54) | (1.00) | 4.11 | 3.04 | (0.46) | ||||
Distributions (d) | |||||||||
From net investment income | (0.58) | (0.41) | (0.46) | (0.50) | (0.20) | ||||
From net realized gain | — | — | — | — | (0.19) | ||||
Total distributions | (0.58) | (0.41) | (0.46) | (0.50) | (0.39) | ||||
Net asset value, end of period | $ 24.69 | $27.81 | $ 29.22 | $25.57 | $23.03 | ||||
Total Return | |||||||||
Based on net asset value | (9.49)% | (3.36)% | 16.08% | 13.44% | (2.18)% (e) | ||||
Ratios to Average Net Assets | |||||||||
Total expenses(f) | 0.59% | 0.59% | 0.59% | 0.59% | 0.59% (g) | ||||
Total expenses after fees waived(f) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% (g)(h) | ||||
Net investment income | 2.05% | 1.43% | 1.69% | 1.98% | 1.85% (g) | ||||
Supplemental Data | |||||||||
Net assets, end of period (000) | $ 2,469 | $ 2,781 | $ 2,922 | $ 2,557 | $ 3,454 | ||||
Portfolio turnover rate(i)(j) | 9% | 5% | 11% | 20% | 7% (e) | ||||
(a) Commencement of operations. |
|||||||||
(b) Based on average shares outstanding. | |||||||||
(c) The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share transactions in relation to the fluctuating market values of the Fund’s underlying securities. | |||||||||
(d) Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | |||||||||
(e) Not annualized. | |||||||||
(f) The Fund indirectly bears its proportionate share of fees and expenses incurred by the underlying fund in which the Fund is invested. This ratio does not include these indirect fees and expenses. | |||||||||
(g) Annualized. | |||||||||
(h) Rounds to less than 0.01%. | |||||||||
(i) Portfolio turnover rate excludes in-kind transactions. | |||||||||
(j) Portfolio turnover rate excludes the portfolio activity of the underlying fund in which the Fund is invested. See the underlying fund's financial highlights for its respective portfolio turnover rates. |
Premium/Discount Range | Number of Days | Percentage of Total Days | ||
Greater than 0.5% and Less than 1.0% | 3 | 0.80% | ||
Greater than 0.0% and Less than 0.5% | 218 | 57.83 | ||
At NAV | 17 | 4.51 | ||
Less than 0.0% and Greater than -0.5% | 139 | 36.86 | ||
377 | 100.00% |
Average Annual Total Returns | Cumulative Total Returns | ||||
1 Year |
Since
Inception |
1 Year |
Since
Inception |
||
Fund NAV | (9.49)% | 2.68% | (9.49)% | 12.66% | |
Fund Market | (9.15) | 2.81 | (9.15) | 13.30 | |
Index | (7.31) | 3.83 | (7.31) | 18.43 |
Total returns for the period since inception are calculated from the inception date of the Fund (9/29/15). The first day of secondary market trading in shares of the Fund was 10/1/15. |
Call: |
1-800-iShares
or 1-800-474-2737 (toll free)
Monday through Friday, 8:30 a.m. to 6:30 p.m. (Eastern time) |
Email: | iSharesETFs@blackrock.com |
Write: |
c/o
BlackRock Investments, LLC
1 University Square Drive, Princeton, NJ 08540 |
July 31, 2020 | |
2020 Prospectus |
• |
iShares Emerging Markets
Infrastructure ETF | EMIF | NASDAQ
|
|
S-1 |
|
1 |
|
2 |
|
20 |
|
23 |
|
23 |
|
26 |
|
37 |
|
37 |
|
39 |
|
39 |
|
42 |
Ticker: EMIF | Stock Exchange: NASDAQ |
Annual
Fund Operating Expenses
(ongoing expenses that you pay each year as a percentage of the value of your investments)1 |
||||||||||||
Management
Fees |
Distribution
and
Service (12b-1) Fees |
Other
Expenses |
Acquired
Fund Fees
and Expenses2 |
Total
Annual
Fund Operating Expenses |
Fee Waiver2 |
Total
Annual
Fund Operating Expenses After Fee Waiver |
||||||
0.60% | None | None | 0.00% | 0.60% | 0.00% | 0.60% |
1 | The expense information in the table has been restated to reflect current fees. |
2 | The amount rounded to 0.00%. |
1 Year | 3 Years | 5 Years | 10 Years | |||
$61 | $192 | $335 | $750 |
1 | The Fund’s year-to-date return as of June 30, 2020 was -30.07%. |
One Year | Five Years | Ten Years | |||
(Inception Date: 6/16/2009) | |||||
Return Before Taxes | 15.81% | 1.97% | 3.44% | ||
Return After Taxes on Distributions1 | 15.16% | 1.38% | 2.87% | ||
Return After Taxes on Distributions and Sale of Fund Shares1 | 9.69% | 1.47% | 2.74% | ||
S&P Emerging Markets Infrastructure IndexTM (Index returns do not reflect deductions for fees, expenses, or taxes) | 16.42% | 2.25% | 3.62% |
1 | After-tax returns in the table above are calculated using the historical highest individual U.S. federal marginal income tax rates and do not reflect the impact of state or local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown, and after-tax returns shown are not relevant to tax-exempt investors or investors who hold shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts (“IRAs”). Fund returns after taxes on distributions and sales of Fund shares are calculated assuming that an investor has sufficient capital gains of the same character from other investments to offset any capital losses from the sale of Fund shares. As a result, Fund returns after taxes on distributions and sales of Fund shares may exceed Fund returns before taxes and/or returns after taxes on distributions. |
■ | General Impact. This outbreak has resulted in travel restrictions, closed international borders, enhanced health screenings at ports of entry and elsewhere, disruption of and delays in healthcare service preparation and delivery, prolonged quarantines, cancellations, supply chain disruptions, lower consumer demand, temporary closures of stores, restaurants and other commercial establishments, layoffs, defaults and other significant economic impacts, as well as general concern and uncertainty. |
■ | Market Volatility. The outbreak has also resulted in extreme volatility, severe losses, and disruptions in markets which can adversely impact the Fund and its investments, including impairing hedging activity to the extent a Fund engages in such activity, as expected correlations between related markets or instruments may no longer apply. In addition, to the extent the Fund invests in short-term instruments that have negative yields, the Fund’s value may be impaired as a result. Certain issuers of equity securities have cancelled or announced the suspension of dividends. The outbreak has, and may continue to, negatively affect the credit ratings of some fixed income securities and their issuers. |
■ | Market Closures. Certain local markets have been or may be subject to closures, and there can be no assurance that trading will continue in any local markets in which the Fund may invest, when any resumption of trading will occur or, once such markets resume trading, whether they will face further closures. Any suspension of trading in markets in which the Fund invests will have an impact on the Fund and its investments and will impact the Fund’s ability to purchase or sell securities in such markets. |
■ | Operational Risk. The outbreak could also impair the information technology and other operational systems upon which the Fund’s service providers, including BFA, rely, and could otherwise disrupt the ability of employees of the Fund’s service providers to perform critical tasks relating to the Fund, for example, due to the service providers’ employees performing tasks in alternate locations than under normal operating conditions or the illness of certain employees of the Fund’s service providers. |
■ | Governmental Interventions. Governmental and quasi-governmental authorities and regulators throughout the world have responded to the outbreak and the resulting economic disruptions with a variety of fiscal and monetary policy changes, including |
direct capital infusions into companies and other issuers, new monetary policy tools, and lower interest rates. An unexpected or sudden reversal of these policies, or the ineffectiveness of such policies, is likely to increase market volatility, which could adversely affect the Fund’s investments. | |
■ | Pre-Existing Conditions. Public health crises caused by the outbreak may exacerbate other pre-existing political, social and economic risks in certain countries or globally. |
■ | A lack of market liquidity and market efficiency; |
■ | Greater securities price volatility; |
■ | Exchange rate fluctuations and exchange controls; |
■ | Less availability of public information about issuers; |
■ | Limitations on foreign ownership of securities; |
■ | Imposition of withholding or other taxes; |
■ | Imposition of restrictions on the expatriation of the funds or other assets of the Fund; |
■ | Higher transaction and custody costs and delays in settlement procedures; |
■ | Difficulties in enforcing contractual obligations; |
■ | Lower levels of regulation of the securities markets; |
■ | Weaker accounting, disclosure and reporting requirements; and |
■ | Legal principles relating to corporate governance, directors’ fiduciary duties and liabilities and stockholders’ rights in markets in which the Fund invests may differ from and/or may not be as extensive or protective as those that apply in the U.S. |
■ | The risk of delays in settling portfolio transactions and the risk of loss arising out of the system of share registration and custody used in Russia; |
■ | Risks in connection with the maintenance of the Fund’s portfolio securities and cash with foreign sub-custodians and securities depositories, including the risk that appropriate sub-custody arrangements will not be available to the Fund; |
■ | The risk that the Fund’s ownership rights in portfolio securities could be lost through fraud or negligence because ownership in shares of Russian companies is recorded by the companies themselves and by registrars, rather than by a central registration system; |
■ | The risk that the Fund may not be able to pursue claims on behalf of its shareholders because of the system of share registration and custody, and because Russian banking institutions and registrars are not guaranteed by the Russian government; and |
■ | The risk that various responses by other nation-states to alleged Russian cyber activity will impact Russia’s economy and Russian issuers of securities in which the Fund invests. |
■ | The risk of delays in settling portfolio transactions and the risk of loss arising out of the system of share registration and custody used in certain Eastern European countries; |
■ | Risks in connection with the maintenance of the Fund's portfolio securities and cash with foreign sub-custodians and securities depositories, including the risk that appropriate sub-custody arrangements will not be available to the Fund; |
■ | The risk that the Fund's ownership rights in portfolio securities could be lost through fraud or negligence as a result of the fact that ownership in shares of certain Eastern European companies is recorded by the companies themselves and by registrars, rather than a central registration system; |
■ | The risk that the Fund may not be able to pursue claims on behalf of its |
■ | Risks in connection with Eastern European countries' dependence on the economic health of Western European countries and the EU as a whole. |
Approximate
Value of a Creation Unit |
Creation
Unit Size |
Standard
Creation/ Redemption Transaction Fee |
Maximum
Additional
Charge for Creations* |
Maximum
Additional
Charge for Redemptions* |
||||
$1,075,000 | 50,000 | $250 | 7.0% | 2.0% |
* | As a percentage of the net asset value per Creation Unit, inclusive, in the case of redemptions, of the standard redemption transaction fee. |
iShares Emerging Markets Infrastructure ETF | |||||||||
Year
Ended
03/31/20 |
Year
Ended
03/31/19 |
Year
Ended
03/31/18 |
Year
Ended
03/31/17 |
Year
Ended
03/31/16 |
|||||
Net asset value, beginning of year | $ 28.64 | $ 32.07 | $ 31.49 | $ 29.66 | $ 32.87 | ||||
Net investment income(a) | 0.75 | 0.75 | 0.66 | 0.90 | 0.67 | ||||
Net realized and unrealized gain (loss)(b) | (8.94) | (3.45) | 0.77 | 1.82 | (3.32) | ||||
Net increase (decrease) from investment operations | (8.19) | (2.70) | 1.43 | 2.72 | (2.65) | ||||
Distributions (c) | |||||||||
From net investment income | (0.65) | (0.73) | (0.85) | (0.89) | (0.56) | ||||
Total distributions | (0.65) | (0.73) | (0.85) | (0.89) | (0.56) | ||||
Net asset value, end of year | $ 19.80 | $ 28.64 | $ 32.07 | $ 31.49 | $ 29.66 | ||||
Total Return | |||||||||
Based on net asset value | (29.33)% | (8.35)% | 4.55% | 9.46% | (8.11)% | ||||
Ratios to Average Net Assets | |||||||||
Total expenses | 0.75% | 0.75% | 0.75% | 0.75% | 0.75% | ||||
Net investment income | 2.60% | 2.56% | 2.02% | 3.03% | 2.19% | ||||
Supplemental Data | |||||||||
Net assets, end of year (000) | $12,870 | $25,773 | $41,686 | $47,235 | $47,460 | ||||
Portfolio turnover rate(d) | 18% | 25% | 21% | 24% | 12% | ||||
(a) Based on average shares outstanding. |
|||||||||
(b) The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share transactions in relation to the fluctuating market values of the Fund’s underlying securities. | |||||||||
(c) Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | |||||||||
(d) Portfolio turnover rate excludes in-kind transactions. |
Premium/Discount Range | Number of Days | Percentage of Total Days | ||
Greater than 2.0% and Less than 2.5% | 1 | 0.27% | ||
Greater than 1.5% and Less than 2.0% | 1 | 0.27 | ||
Greater than 1.0% and Less than 1.5% | 3 | 0.80 | ||
Greater than 0.5% and Less than 1.0% | 16 | 4.24 | ||
Greater than 0.0% and Less than 0.5% | 91 | 24.13 | ||
At NAV | 5 | 1.33 | ||
Less than 0.0% and Greater than -0.5% | 179 | 47.47 | ||
Less than -0.5% and Greater than -1.0% | 66 | 17.50 | ||
Less than -1.0% and Greater than -1.5% | 9 | 2.39 | ||
Less than -1.5% and Greater than -2.0% | 2 | 0.53 | ||
Less than -2.5% and Greater than -3.0% | 2 | 0.53 | ||
Less than -3.0% and Greater than -3.5% | 1 | 0.27 | ||
Less than -4.0% and Greater than -4.5% | 1 | 0.27 | ||
377 | 100.00% |
Average Annual Total Returns | Cumulative Total Returns | ||||||
1 Year | 5 Years | 10 Years | 1 Year | 5 Years | 10 Years | ||
Fund NAV | (29.33)% | (7.39)% | (1.73)% | (29.33)% | (31.86)% | (16.05)% | |
Fund Market | (29.53) | (7.43) | (1.81) | (29.53) | (32.03) | (16.66) | |
Index | (29.31) | (7.13) | (1.42) | (29.31) | (30.92) | (13.28) |
Call: |
1-800-iShares
or 1-800-474-2737 (toll free)
Monday through Friday, 8:30 a.m. to 6:30 p.m. (Eastern time) |
Email: | iSharesETFs@blackrock.com |
Write: |
c/o
BlackRock Investments, LLC
1 University Square Drive, Princeton, NJ 08540 |
July 31, 2020 | |
2020 Prospectus |
• |
iShares Europe
ETF | IEV | NYSE ARCA
|
|
S-1 |
|
1 |
|
2 |
|
15 |
|
18 |
|
18 |
|
21 |
|
31 |
|
31 |
|
33 |
|
33 |
|
36 |
Ticker: IEV | Stock Exchange: NYSE Arca |
1 | The amount rounded to 0.00%. |
1 Year | 3 Years | 5 Years | 10 Years | |||
$60 | $189 | $329 | $738 |
1 | The Fund’s year-to-date return as of June 30, 2020 was -12.76%. |
One Year | Five Years | Ten Years | |||
(Inception Date: 7/25/2000) | |||||
Return Before Taxes | 23.58% | 4.77% | 4.86% | ||
Return After Taxes on Distributions1 | 22.99% | 4.31% | 4.49% | ||
Return After Taxes on Distributions and Sale of Fund Shares1 | 14.89% | 3.88% | 4.10% | ||
S&P Europe 350 (Index returns do not reflect deductions for fees, expenses, or taxes) | 24.05% | 5.11% | 5.19% |
1 | After-tax returns in the table above are calculated using the historical highest individual U.S. federal marginal income tax rates and do not reflect the impact of state or local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown, and after-tax returns shown are not relevant to tax-exempt investors or investors who hold shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts (“IRAs”). Fund returns after taxes on distributions and sales of Fund shares are calculated assuming that an investor has sufficient capital gains of the same character from other investments to offset any capital losses from the sale of Fund shares. As a result, Fund returns after taxes on distributions and sales of Fund shares may exceed Fund returns before taxes and/or returns after taxes on distributions. |
■ | General Impact. This outbreak has resulted in travel restrictions, closed international borders, enhanced health screenings at ports of entry and elsewhere, disruption of and delays in healthcare service preparation and delivery, prolonged quarantines, cancellations, supply chain disruptions, lower consumer demand, temporary closures of stores, restaurants and other commercial establishments, layoffs, defaults and other significant economic impacts, as well as general concern and uncertainty. |
■ | Market Volatility. The outbreak has also resulted in extreme volatility, severe losses, and disruptions in markets which can adversely impact the Fund and its investments, including impairing hedging activity to the extent a Fund engages in such activity, as expected correlations between related markets or instruments may no longer apply. In addition, to the extent the Fund invests in short-term instruments that have negative yields, the Fund’s value may be impaired as a result. Certain issuers of equity securities have cancelled or announced the suspension of dividends. The outbreak has, and may continue to, negatively affect the credit ratings of some fixed income securities and their issuers. |
■ | Market Closures. Certain local markets have been or may be subject to closures, and there can be no assurance that trading will continue in any local markets in which the Fund may invest, when any resumption of trading will occur or, once such markets resume trading, whether they will face further closures. Any suspension of trading in markets in which the Fund invests will have an impact on the Fund and its investments and will impact the Fund’s ability to purchase or sell securities in such markets. |
■ | Operational Risk. The outbreak could also impair the information technology and other operational systems upon which the Fund’s service providers, including BFA, rely, and could otherwise disrupt the ability of employees of the Fund’s service providers to perform critical tasks relating to the Fund, for example, due to the service providers’ employees performing tasks in alternate locations than under normal operating conditions or the illness of certain employees of the Fund’s service providers. |
■ | Governmental Interventions. Governmental and quasi-governmental authorities and regulators throughout the world have responded to the outbreak and the resulting economic disruptions with a variety of fiscal and monetary policy changes, including direct capital infusions into companies and other issuers, new monetary policy tools, and lower interest rates. An unexpected or sudden reversal of these policies, or the ineffectiveness of such policies, is likely to increase market volatility, which could adversely affect the Fund’s investments. |
■ | Pre-Existing Conditions. Public health crises caused by the outbreak may exacerbate other pre-existing political, social and economic risks in certain countries or globally. |
■ | A lack of market liquidity and market efficiency; |
■ | Greater securities price volatility; |
■ | Exchange rate fluctuations and exchange controls; |
■ | Less availability of public information about issuers; |
■ | Limitations on foreign ownership of securities; |
■ | Imposition of withholding or other taxes; |
■ | Imposition of restrictions on the expatriation of the funds or other assets of the Fund; |
■ | Higher transaction and custody costs and delays in settlement procedures; |
■ | Difficulties in enforcing contractual obligations; |
■ | Lower levels of regulation of the securities markets; |
■ | Weaker accounting, disclosure and reporting requirements; and |
■ | Legal principles relating to corporate governance, directors’ fiduciary duties and liabilities and stockholders’ rights in markets in which the Fund invests may differ from and/or may not be as extensive or protective as those that apply in the U.S. |
Approximate
Value of a Creation Unit |
Creation
Unit Size |
Standard
Creation/ Redemption Transaction Fee |
Maximum
Additional
Charge for Creations* |
Maximum
Additional
Charge for Redemptions* |
||||
$1,875,500 | 50,000 | $10,000 | 3.0% | 2.0% |
* | As a percentage of the net asset value per Creation Unit, inclusive, in the case of redemptions, of the standard redemption transaction fee. |
iShares Europe ETF | |||||||||
Year
Ended
03/31/20 |
Year
Ended
03/31/19 |
Year
Ended
03/31/18 |
Year
Ended
03/31/17 |
Year
Ended
03/31/16 |
|||||
Net asset value, beginning of year | $ 43.40 | $ 46.48 | $ 41.82 | $ 39.32 | $ 44.28 | ||||
Net investment income(a) | 1.24 | 1.42 | 1.10 | 1.24 (b) | 1.09 | ||||
Net realized and unrealized gain (loss)(c) | (7.78) | (3.16) | 4.69 | 2.46 | (4.92) | ||||
Net increase (decrease) from investment operations | (6.54) | (1.74) | 5.79 | 3.70 | (3.83) | ||||
Distributions (d) | |||||||||
From net investment income | (1.44) | (1.34) | (1.13) | (1.20) | (1.13) | ||||
Total distributions | (1.44) | (1.34) | (1.13) | (1.20) | (1.13) | ||||
Net asset value, end of year | $ 35.42 | $ 43.40 | $ 46.48 | $ 41.82 | $ 39.32 | ||||
Total Return | |||||||||
Based on net asset value | (15.61)% | (3.73)% | 13.96% | 9.65% (b) | (8.94)% | ||||
Ratios to Average Net Assets | |||||||||
Total expenses | 0.59% | 0.59% | 0.59% | 0.60% | 0.60% | ||||
Total expenses excluding professional fees for foreign withholding tax claims | 0.59% | 0.59% | N/A | 0.60% | N/A | ||||
Net investment income | 2.84% | 3.23% | 2.39% | 3.17% (b) | 2.61% | ||||
Supplemental Data | |||||||||
Net assets, end of year (000) | $1,252,107 | $2,002,860 | $2,765,550 | $2,471,335 | $2,709,154 | ||||
Portfolio turnover rate(e) | 5% | 7% | 3% | 5% | 3% | ||||
(a) Based on average shares outstanding. |
|||||||||
(b) Reflects the one-time, positive effect of foreign withholding tax claims, net of the associated professional fees, which resulted in the following
increases for the year ended March 31, 2017:
• Net investment income per share by $0.02. • Total return by 0.05%. • Ratio of net investment income to average net assets by 0.04%. |
|||||||||
(c) The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share transactions in relation to the fluctuating market values of the Fund’s underlying securities. | |||||||||
(d) Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | |||||||||
(e) Portfolio turnover rate excludes in-kind transactions. |
Premium/Discount Range | Number of Days | Percentage of Total Days | ||
Greater than 5.0% and Less than 5.5% | 1 | 0.27% | ||
Greater than 3.0% and Less than 3.5% | 1 | 0.27 | ||
Greater than 1.5% and Less than 2.0% | 1 | 0.27 | ||
Greater than 1.0% and Less than 1.5% | 4 | 1.06 | ||
Greater than 0.5% and Less than 1.0% | 20 | 5.30 | ||
Greater than 0.0% and Less than 0.5% | 161 | 42.70 | ||
At NAV | 3 | 0.80 | ||
Less than 0.0% and Greater than -0.5% | 147 | 38.98 | ||
Less than -0.5% and Greater than -1.0% | 22 | 5.83 | ||
Less than -1.0% and Greater than -1.5% | 8 | 2.12 | ||
Less than -1.5% and Greater than -2.0% | 5 | 1.33 | ||
Less than -2.0% and Greater than -2.5% | 2 | 0.53 | ||
Less than -2.5% and Greater than -3.0% | 1 | 0.27 | ||
Less than -3.0% and Greater than -3.5% | 1 | 0.27 | ||
377 | 100.00% |
Average Annual Total Returns | Cumulative Total Returns | ||||||
1 Year | 5 Years | 10 Years | 1 Year | 5 Years | 10 Years | ||
Fund NAV | (15.61)% | (1.56)% | 2.21% | (15.61)% | (7.55)% | 24.38% | |
Fund Market | (15.90) | (1.63) | 2.19 | (15.90) | (7.87) | 24.20 | |
Index | (15.33) | (1.25) | 2.55 | (15.33) | (6.08) | 28.69 |
Index performance through January 30, 2013 is calculated using currency exchange (FX) rates corresponding to 5:15 P.M. ET. Index performance beginning on January 31, 2013 is calculated using FX rates corresponding to World Market Reuters 4:00 P.M. London. |
Call: |
1-800-iShares
or 1-800-474-2737 (toll free)
Monday through Friday, 8:30 a.m. to 6:30 p.m. (Eastern time) |
Email: | iSharesETFs@blackrock.com |
Write: |
c/o
BlackRock Investments, LLC
1 University Square Drive, Princeton, NJ 08540 |
July 31, 2020 | |
2020 Prospectus |
• |
iShares Expanded Tech
Sector ETF | IGM | NYSE ARCA
|
|
S-1 |
|
1 |
|
2 |
|
11 |
|
13 |
|
13 |
|
17 |
|
26 |
|
27 |
|
28 |
|
28 |
|
31 |
Ticker: IGM | Stock Exchange: NYSE Arca |
1 | The amount rounded to 0.00%. |
1 Year | 3 Years | 5 Years | 10 Years | |||
$47 | $148 | $258 | $579 |
1 | The Fund’s year-to-date return as of June 30, 2020 was 15.63%. |
One Year | Five Years | Ten Years | |||
(Inception Date: 3/13/2001) | |||||
Return Before Taxes | 41.69% | 19.76% | 17.00% | ||
Return After Taxes on Distributions1 | 41.50% | 19.56% | 16.82% | ||
Return After Taxes on Distributions and Sale of Fund Shares1 | 24.79% | 16.09% | 14.50% | ||
S&P North American Expanded Technology Sector Index2 (Index returns do not reflect deductions for fees, expenses, or taxes) | 42.33% | 20.30% | 17.53% |
1 | After-tax returns in the table above are calculated using the historical highest individual U.S. federal marginal income tax rates and do not reflect the impact of state or local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown, and after-tax returns shown are not relevant to tax-exempt investors or investors who hold shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts (“IRAs”). Fund returns after taxes on distributions and sales of Fund shares are calculated assuming that an investor has sufficient capital gains of the same character from other investments to offset any capital losses from the sale of Fund shares. As a result, Fund returns after taxes on distributions and sales of Fund shares may exceed Fund returns before taxes and/or returns after taxes on distributions. |
2 |
Index performance through
December 23, 2018 reflects the performance of the S&P North American Technology Sector Index. Index Performance beginning on December 24, 2018
reflects the performance of the S&P North American Expanded Technology Sector Index. |
■ | General Impact. This outbreak has resulted in travel restrictions, closed international borders, enhanced health screenings at ports of entry and elsewhere, disruption of and delays in healthcare service preparation and delivery, prolonged quarantines, cancellations, supply chain disruptions, lower consumer demand, temporary closures of stores, restaurants and other commercial establishments, layoffs, defaults and other significant economic impacts, as well as general concern and uncertainty. |
■ | Market Volatility. The outbreak has also resulted in extreme volatility, severe losses, and disruptions in markets which can adversely impact the Fund and its investments, including impairing hedging activity to the extent a Fund engages in such activity, as expected correlations between related markets or instruments may no longer apply. In addition, to the extent the Fund invests in short-term instruments that have negative yields, the Fund’s value may be impaired as a result. Certain issuers of equity securities have cancelled or announced the suspension of dividends. The outbreak has, and may continue to, negatively affect the credit ratings of some fixed income securities and their issuers. |
■ | Market Closures. Certain local markets have been or may be subject to closures, and there can be no assurance that trading will continue in any local markets in which the Fund may invest, when any resumption of trading will occur or, once such markets resume trading, whether they will face further closures. Any suspension of trading in markets in which the Fund invests will have an impact on the Fund and its investments and will impact the Fund’s ability to purchase or sell securities in such markets. |
■ | Operational Risk. The outbreak could also impair the information technology and other operational systems upon which the Fund’s service providers, including BFA, rely, and could otherwise disrupt the ability of employees of the Fund’s service |
providers to perform critical tasks relating to the Fund, for example, due to the service providers’ employees performing tasks in alternate locations than under normal operating conditions or the illness of certain employees of the Fund’s service providers. | |
■ | Governmental Interventions. Governmental and quasi-governmental authorities and regulators throughout the world have responded to the outbreak and the resulting economic disruptions with a variety of fiscal and monetary policy changes, including direct capital infusions into companies and other issuers, new monetary policy tools, and lower interest rates. An unexpected or sudden reversal of these policies, or the ineffectiveness of such policies, is likely to increase market volatility, which could adversely affect the Fund’s investments. |
■ | Pre-Existing Conditions. Public health crises caused by the outbreak may exacerbate other pre-existing political, social and economic risks in certain countries or globally. |
Approximate
Value of a Creation Unit |
Creation
Unit Size |
Standard
Creation/ Redemption Transaction Fee |
Maximum
Additional
Charge for Creations* |
Maximum
Additional
Charge for Redemptions* |
||||
$12,313,000 | 50,000 | $650 | 3.0% | 2.0% |
* | As a percentage of the net asset value per Creation Unit, inclusive, in the case of redemptions, of the standard redemption transaction fee. |
iShares Expanded Tech Sector ETF | |||||||||||
Year
Ended
03/31/20 |
Year
Ended
03/31/19 |
Year
Ended
03/31/18 |
Year
Ended
03/31/17 |
Period
From
08/01/15 to 03/31/16 (a) |
Year
Ended
07/31/15 |
||||||
Net asset value, beginning of period | $ 206.22 | $ 179.48 | $ 138.39 | $ 110.64 | $ 107.65 | $ 95.51 | |||||
Net investment income(b) | 1.26 | 1.09 | 0.88 | 1.00 | 0.74 | 0.88 | |||||
Net realized and unrealized gain(c) | 6.00 | 26.69 | 41.18 | 27.77 | 3.01 | 12.16 | |||||
Net increase from investment operations | 7.26 | 27.78 | 42.06 | 28.77 | 3.75 | 13.04 | |||||
Distributions (d) | |||||||||||
From net investment income | (1.33) | (1.04) | (0.97) | (1.02) | (0.76) | (0.90) | |||||
Total distributions | (1.33) | (1.04) | (0.97) | (1.02) | (0.76) | (0.90) | |||||
Net asset value, end of period | $ 212.15 | $ 206.22 | $ 179.48 | $ 138.39 | $ 110.64 | $ 107.65 | |||||
Total Return | |||||||||||
Based on net asset value | 3.51% | 15.52% | 30.48% | 26.13% | 3.51% (e) | 13.70% | |||||
Ratios to Average Net Assets | |||||||||||
Total expenses | 0.46% | 0.46% | 0.47% | 0.48% | 0.48% (f) | 0.47% | |||||
Net investment income | 0.56% | 0.56% | 0.55% | 0.82% | 1.05% (f) | 0.87% | |||||
Supplemental Data | |||||||||||
Net assets, end of period (000) | $1,707,788 | $1,587,932 | $1,462,726 | $1,120,933 | $862,984 | $823,498 | |||||
Portfolio turnover rate(g) | 10% | 8% | 6% | 7% | 6% (e) | 6% | |||||
|
(a) | The Fund's fiscal year-end changed from July 31 to March 31. | |||||||||||
(b) | Based on average shares outstanding. | |||||||||||
(c) | The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share transactions in relation to the fluctuating market values of the Fund’s underlying securities. | |||||||||||
(d) | Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | |||||||||||
(e) | Not annualized. | |||||||||||
(f) | Annualized. | |||||||||||
(g) | Portfolio turnover rate excludes in-kind transactions. |
Premium/Discount Range | Number of Days | Percentage of Total Days | ||
Greater than 0.0% and Less than 0.5% | 123 | 32.63% | ||
At NAV | 98 | 25.99 | ||
Less than 0.0% and Greater than -0.5% | 156 | 41.38 | ||
377 | 100.00% |
Average Annual Total Returns | Cumulative Total Returns | ||||||
1 Year | 5 Years | 10 Years | 1 Year | 5 Years | 10 Years | ||
Fund NAV | 3.51% | 16.34% | 15.22% | 3.51% | 113.15% | 312.20% | |
Fund Market | 3.53 | 16.34 | 15.21 | 3.53 | 113.17 | 311.97 | |
Index | 3.96 | 16.86 | 15.74 | 3.96 | 117.97 | 331.22 |
Call: |
1-800-iShares
or 1-800-474-2737 (toll free)
Monday through Friday, 8:30 a.m. to 6:30 p.m. (Eastern time) |
Email: | iSharesETFs@blackrock.com |
Write: |
c/o
BlackRock Investments, LLC
1 University Square Drive, Princeton, NJ 08540 |
July 31, 2020 | |
2020 Prospectus |
• |
iShares Expanded
Tech-Software Sector ETF | IGV | CBOE BZX
|
|
S-1 |
|
1 |
|
2 |
|
10 |
|
13 |
|
13 |
|
17 |
|
26 |
|
27 |
|
28 |
|
28 |
|
31 |
Ticker: IGV | Stock Exchange: Cboe BZX |
1 | The amount rounded to 0.00%. |
1 Year | 3 Years | 5 Years | 10 Years | |||
$47 | $148 | $258 | $579 |
1 | The Fund’s year-to-date return as of June 30, 2020 was 22.72%. |
One Year | Five Years | Ten Years | |||
(Inception Date: 7/10/2001) | |||||
Return Before Taxes | 34.36% | 20.55% | 17.68% | ||
Return After Taxes on Distributions1 | 34.36% | 20.47% | 17.61% | ||
Return After Taxes on Distributions and Sale of Fund Shares1 | 20.35% | 16.81% | 15.17% | ||
S&P North American Expanded Technology Software Index (Index returns do not reflect deductions for fees, expenses, or taxes)2 | 34.98% | 20.94% | 18.12% |
1 | After-tax returns in the table above are calculated using the historical highest individual U.S. federal marginal income tax rates and do not reflect the impact of state or local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown, and after-tax returns shown are not relevant to tax-exempt investors or investors who hold shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts (“IRAs”). Fund returns after taxes on distributions and sales of Fund shares are calculated assuming that an investor has sufficient capital gains of the same character from other investments to offset any capital losses from the sale of Fund shares. As a result, Fund returns after taxes on distributions and sales of Fund shares may exceed Fund returns before taxes and/or returns after taxes on distributions. |
2 | Index performance through December 23, 2018 reflects the performance of the S&P North American Technology Software Index. Index performance beginning on December 24, 2018 reflects the performance of the S&P North American Expanded Technology Software Index. |
■ | General Impact. This outbreak has resulted in travel restrictions, closed international borders, enhanced health screenings at ports of entry and elsewhere, disruption of and delays in healthcare service preparation and delivery, prolonged quarantines, cancellations, supply chain disruptions, lower consumer demand, temporary closures of stores, restaurants and other commercial establishments, layoffs, defaults and other significant economic impacts, as well as general concern and uncertainty. |
■ | Market Volatility. The outbreak has also resulted in extreme volatility, severe losses, and disruptions in markets which can adversely impact the Fund and its investments, including impairing hedging activity to the extent a Fund engages in such activity, as expected correlations between related markets or instruments may no longer apply. In addition, to the extent the Fund invests in short-term instruments that have negative yields, the Fund’s value may be impaired as a result. Certain issuers of equity securities have cancelled or announced the suspension of dividends. The outbreak has, and may continue to, negatively affect the credit ratings of some fixed income securities and their issuers. |
■ | Market Closures. Certain local markets have been or may be subject to closures, and there can be no assurance that trading will continue in any local markets in which the Fund may invest, when any resumption of trading will occur or, once such markets resume trading, whether they will face further closures. Any suspension of trading in markets in which the Fund invests will have an impact on the Fund and its investments and will impact the Fund’s ability to purchase or sell securities in such markets. |
■ | Operational Risk. The outbreak could also impair the information technology and other operational systems upon which the Fund’s service providers, including BFA, rely, and could otherwise disrupt the ability of employees of the Fund’s service providers to perform critical tasks relating to the Fund, for example, due to the service providers’ employees performing tasks in alternate locations than under normal operating conditions or the illness of certain employees of the Fund’s service providers. |
■ | Governmental Interventions. Governmental and quasi-governmental authorities and regulators throughout the world have responded to the outbreak and the resulting economic disruptions with a variety of fiscal and monetary policy changes, including direct capital infusions into companies and other issuers, new monetary policy tools, and lower interest rates. An unexpected or sudden reversal of these policies, or the ineffectiveness of such policies, is likely to increase market volatility, which could adversely affect the Fund’s investments. |
■ | Pre-Existing Conditions. Public health crises caused by the outbreak may exacerbate other pre-existing political, social and economic risks in certain countries or globally. |
Approximate
Value of a Creation Unit |
Creation
Unit Size |
Standard
Creation/ Redemption Transaction Fee |
Maximum
Additional
Charge for Creations* |
Maximum
Additional
Charge for Redemptions* |
||||
$12,042,500 | 50,000 | $250 | 3.0% | 2.0% |
* | As a percentage of the net asset value per Creation Unit, inclusive, in the case of redemptions, of the standard redemption transaction fee. |
iShares Expanded Tech-Software Sector ETF | |||||||||||
Year
Ended
03/31/20 |
Year
Ended
03/31/19 |
Year
Ended
03/31/18 |
Year
Ended
03/31/17 |
Period
From
08/01/15 to 03/31/16 (a) |
Year
Ended
07/31/15 |
||||||
Net asset value, beginning of period | $ 210.77 | $ 169.69 | $ 126.45 | $ 100.66 | $ 102.43 | $ 84.80 | |||||
Net investment income(b) | 1.28 (c) | 0.24 | 0.12 | 0.22 | 0.68 (d) | 0.24 | |||||
Net realized and unrealized gain (loss)(e) | (1.06) | 41.10 | 43.23 | 25.75 | (1.58) | 17.63 | |||||
Net increase (decrease) from investment operations | 0.22 | 41.34 | 43.35 | 25.97 | (0.90) | 17.87 | |||||
Distributions (f) | |||||||||||
From net investment income | (1.22) | (0.26) | (0.11) | (0.18) | (0.87) | (0.24) | |||||
Total distributions | (1.22) | (0.26) | (0.11) | (0.18) | (0.87) | (0.24) | |||||
Net asset value, end of period | $ 209.77 | $ 210.77 | $ 169.69 | $ 126.45 | $ 100.66 | $ 102.43 | |||||
Total Return | |||||||||||
Based on net asset value | 0.13% | 24.39% | 34.30% | 25.82% | (0.86)% (g) | 21.10% | |||||
Ratios to Average Net Assets | |||||||||||
Total expenses | 0.46% | 0.46% | 0.47% | 0.48% | 0.48% (h) | 0.47% | |||||
Net investment income | 0.57% (c) | 0.13% | 0.08% | 0.19% | 1.04% (d)(h) | 0.25% | |||||
Supplemental Data | |||||||||||
Net assets, end of period (000) | $3,031,151 | $2,729,463 | $1,357,537 | $815,631 | $709,680 | $1,080,639 | |||||
Portfolio turnover rate(i) | 18% | 18% | 12% | 12% | 9% (g) | 15% | |||||
(a) The Fund's fiscal year-end changed from July 31 to March 31. |
|||||||||||
(b) Based on average shares outstanding. | |||||||||||
(c) Includes a one-time special distribution from NortonLifeLock Inc. Excluding such special distribution, the net investment income would have been $(0.07) per share and (0.03)% of average net assets. | |||||||||||
(d) Includes a one-time special distribution from Symantec Corp. Excluding such special distribution, the net investment income would have been $0.18 per share and 0.27% of average net assets. | |||||||||||
(e) The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share transactions in relation to the fluctuating market values of the Fund’s underlying securities. | |||||||||||
(f) Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | |||||||||||
(g) Not annualized. | |||||||||||
(h) Annualized. | |||||||||||
(i) Portfolio turnover rate excludes in-kind transactions. |
Premium/Discount Range | Number of Days | Percentage of Total Days | ||
Greater than 0.0% and Less than 0.5% | 151 | 40.06% | ||
At NAV | 88 | 23.34 | ||
Less than 0.0% and Greater than -0.5% | 138 | 36.60 | ||
377 | 100.00% |
Average Annual Total Returns | Cumulative Total Returns | ||||||
1 Year | 5 Years | 10 Years | 1 Year | 5 Years | 10 Years | ||
Fund NAV | 0.13% | 17.35% | 16.11% | 0.13% | 122.54% | 345.19% | |
Fund Market | 0.15 | 17.36 | 16.10 | 0.15 | 122.65 | 344.95 | |
Index | 0.59 | 17.73 | 16.54 | 0.59 | 126.19 | 362.21 |
Index performance through December 23, 2018 reflects the performance of the S&P North American Technology Software Index. Index performance beginning on December 24, 2018 reflects the performance of the S&P North American Expanded Technology Software Index. |
Call: |
1-800-iShares
or 1-800-474-2737 (toll free)
Monday through Friday, 8:30 a.m. to 6:30 p.m. (Eastern time) |
Email: | iSharesETFs@blackrock.com |
Write: |
c/o
BlackRock Investments, LLC
1 University Square Drive, Princeton, NJ 08540 |
July 31, 2020 | |
2020 Prospectus |
• |
iShares Factors US Blend
Style ETF | STLC | CBOE BZX
|
|
S-1 |
|
1 |
|
2 |
|
11 |
|
15 |
|
15 |
|
18 |
|
27 |
|
27 |
|
28 |
|
28 |
|
30 |
Ticker: STLC | Stock Exchange: CBOE BZX |
1 | The amount rounded to 0.00%. |
1 Year | 3 Years | |||
$26 | $80 |
■ | General Impact. This outbreak has resulted in travel restrictions, closed international borders, enhanced health screenings at ports of entry and elsewhere, disruption of and delays in healthcare service preparation and delivery, prolonged quarantines, cancellations, supply chain disruptions, lower consumer demand, temporary closures of stores, restaurants and other commercial establishments, layoffs, defaults and other significant economic impacts, as well as general concern and uncertainty. |
■ | Market Volatility. The outbreak has also resulted in extreme volatility, severe losses, and disruptions in markets which can adversely impact the Fund and its investments, including impairing hedging activity to the extent a Fund engages in such activity, as expected correlations between related markets or instruments may no longer apply. In addition, to the extent the Fund invests in short-term instruments |
that have negative yields, the Fund’s value may be impaired as a result. Certain issuers of equity securities have cancelled or announced the suspension of dividends. The outbreak has, and may continue to, negatively affect the credit ratings of some fixed income securities and their issuers. | |
■ | Market Closures. Certain local markets have been or may be subject to closures, and there can be no assurance that trading will continue in any local markets in which the Fund may invest, when any resumption of trading will occur or, once such markets resume trading, whether they will face further closures. Any suspension of trading in markets in which the Fund invests will have an impact on the Fund and its investments and will impact the Fund’s ability to purchase or sell securities in such markets. |
■ | Operational Risk. The outbreak could also impair the information technology and other operational systems upon which the Fund’s service providers, including BFA, rely, and could otherwise disrupt the ability of employees of the Fund’s service providers to perform critical tasks relating to the Fund, for example, due to the service providers’ employees performing tasks in alternate locations than under normal operating conditions or the illness of certain employees of the Fund’s service providers. |
■ | Governmental Interventions. Governmental and quasi-governmental authorities and regulators throughout the world have responded to the outbreak and the resulting economic disruptions with a variety of fiscal and monetary policy changes, including direct capital infusions into companies and other issuers, new monetary policy tools, and lower interest rates. An unexpected or sudden reversal of these policies, or the ineffectiveness of such policies, is likely to increase market volatility, which could adversely affect the Fund’s investments. |
■ | Pre-Existing Conditions. Public health crises caused by the outbreak may exacerbate other pre-existing political, social and economic risks in certain countries or globally. |
Approximate
Value of a Creation Unit |
Creation
Unit Size |
Standard
Creation/ Redemption Transaction Fee |
Maximum
Additional
Charge for Creations* |
Maximum
Additional
Charge for Redemptions* |
||||
$1,310,000 | 50,000 | $600 | 3.0% | 2.0% |
* | As a percentage of the net asset value per Creation Unit, inclusive, in the case of redemptions, of the standard redemption transaction fee. |
Premium/Discount Range | Number of Days | Percentage of Total Days | ||
Greater than 0.0% and Less than 0.5% | 6 | 11.32% | ||
At NAV | 8 | 15.09 | ||
Less than 0.0% and Greater than -0.5% | 39 | 73.59 | ||
53 | 100.00% |
Call: |
1-800-iShares
or 1-800-474-2737 (toll free)
Monday through Friday, 8:30 a.m. to 6:30 p.m. (Eastern time) |
Email: | iSharesETFs@blackrock.com |
Write: |
c/o
BlackRock Investments, LLC
1 University Square Drive, Princeton, NJ 08540 |
July 31, 2020 | |
2020 Prospectus |
• |
iShares Factors US Growth
Style ETF | STLG | CBOE BZX
|
|
S-1 |
|
1 |
|
2 |
|
12 |
|
15 |
|
15 |
|
18 |
|
27 |
|
28 |
|
29 |
|
29 |
|
31 |
Ticker: STLG | Stock Exchange: Cboe BZX |
1 | The amount rounded to 0.00%. |
1 Year | 3 Years | |||
$26 | $80 |
■ | General Impact. This outbreak has resulted in travel restrictions, closed international borders, enhanced health screenings at ports of entry and elsewhere, disruption of and delays in healthcare service preparation and delivery, prolonged quarantines, |
cancellations, supply chain disruptions, lower consumer demand, temporary closures of stores, restaurants and other commercial establishments, layoffs, defaults and other significant economic impacts, as well as general concern and uncertainty. | |
■ | Market Volatility. The outbreak has also resulted in extreme volatility, severe losses, and disruptions in markets which can adversely impact the Fund and its investments, including impairing hedging activity to the extent a Fund engages in such activity, as expected correlations between related markets or instruments may no longer apply. In addition, to the extent the Fund invests in short-term instruments that have negative yields, the Fund’s value may be impaired as a result. Certain issuers of equity securities have cancelled or announced the suspension of dividends. The outbreak has, and may continue to, negatively affect the credit ratings of some fixed income securities and their issuers. |
■ | Market Closures. Certain local markets have been or may be subject to closures, and there can be no assurance that trading will continue in any local markets in which the Fund may invest, when any resumption of trading will occur or, once such markets resume trading, whether they will face further closures. Any suspension of trading in markets in which the Fund invests will have an impact on the Fund and its investments and will impact the Fund’s ability to purchase or sell securities in such markets. |
■ | Operational Risk. The outbreak could also impair the information technology and other operational systems upon which the Fund’s service providers, including BFA, rely, and could otherwise disrupt the ability of employees of the Fund’s service providers to perform critical tasks relating to the Fund, for example, due to the service providers’ employees performing tasks in alternate locations than under normal operating conditions or the illness of certain employees of the Fund’s service providers. |
■ | Governmental Interventions. Governmental and quasi-governmental authorities and regulators throughout the world have responded to the outbreak and the resulting economic disruptions with a variety of fiscal and monetary policy changes, including direct capital infusions into companies and other issuers, new monetary policy tools, and lower interest rates. An unexpected or sudden reversal of these policies, or the ineffectiveness of such policies, is likely to increase market volatility, which could adversely affect the Fund’s investments. |
■ | Pre-Existing Conditions. Public health crises caused by the outbreak may exacerbate other pre-existing political, social and economic risks in certain countries or globally. |
Approximate
Value of a Creation Unit |
Creation
Unit Size |
Standard
Creation/ Redemption Transaction Fee |
Maximum
Additional
Charge for Creations* |
Maximum
Additional
Charge for Redemptions* |
||||
$1,157,500 | 50,000 | $400 | 3.0% | 2.0% |
* | As a percentage of the net asset value per Creation Unit, inclusive, in the case of redemptions, of the standard redemption transaction fee. |
Premium/Discount Range | Number of Days | Percentage of Total Days | ||
Greater than 0.0% and Less than 0.5% | 33 | 28.70% | ||
At NAV | 17 | 14.78 | ||
Less than 0.0% and Greater than -0.5% | 65 | 56.52 | ||
115 | 100.00% |
Cumulative Total Returns | ||
Since
Inception |
||
Fund NAV | (18.54)% | |
Fund Market | (18.54) | |
Index | (18.56) |
Total returns for the period since inception are calculated from the inception date of the Fund (1/14/20). The first day of secondary market trading in shares of the Fund was 1/16/20. |
Call: |
1-800-iShares
or 1-800-474-2737 (toll free)
Monday through Friday, 8:30 a.m. to 6:30 p.m. (Eastern time) |
Email: | iSharesETFs@blackrock.com |
Write: |
c/o
BlackRock Investments, LLC
1 University Square Drive, Princeton, NJ 08540 |
July 31, 2020 | |
2020 Prospectus |
• |
iShares Factors US Mid
Blend Style ETF | STMB | CBOE BZX
|
|
S-1 |
|
1 |
|
2 |
|
12 |
|
15 |
|
15 |
|
18 |
|
27 |
|
27 |
|
28 |
|
28 |
|
30 |
Ticker: STMB | Stock Exchange: Cboe BZX |
1 | The amount rounded to 0.00%. |
1 Year | 3 Years | |||
$31 | $97 |
■ | General Impact. This outbreak has resulted in travel restrictions, closed international borders, enhanced health screenings at ports of entry and elsewhere, disruption of and delays in healthcare service preparation and delivery, prolonged quarantines, cancellations, supply chain disruptions, lower consumer demand, temporary closures of stores, restaurants and other commercial establishments, layoffs, defaults and other significant economic impacts, as well as general concern and uncertainty. |
■ | Market Volatility. The outbreak has also resulted in extreme volatility, severe losses, and disruptions in markets which can adversely impact the Fund and its investments, including impairing hedging activity to the extent a Fund engages in such activity, as expected correlations between related markets or instruments may no longer apply. In addition, to the extent the Fund invests in short-term instruments that have negative yields, the Fund’s value may be impaired as a result. Certain issuers of equity securities have cancelled or announced the suspension of dividends. The outbreak has, and may continue to, negatively affect the credit ratings of some fixed income securities and their issuers. |
■ | Market Closures. Certain local markets have been or may be subject to closures, and there can be no assurance that trading will continue in any local markets in which the Fund may invest, when any resumption of trading will occur or, once such markets resume trading, whether they will face further closures. Any suspension of trading in markets in which the Fund invests will have an impact on the Fund and its investments and will impact the Fund’s ability to purchase or sell securities in such markets. |
■ | Operational Risk. The outbreak could also impair the information technology and other operational systems upon which the Fund’s service providers, including BFA, rely, and could otherwise disrupt the ability of employees of the Fund’s service providers to perform critical tasks relating to the Fund, for example, due to the |
service providers’ employees performing tasks in alternate locations than under normal operating conditions or the illness of certain employees of the Fund’s service providers. | |
■ | Governmental Interventions. Governmental and quasi-governmental authorities and regulators throughout the world have responded to the outbreak and the resulting economic disruptions with a variety of fiscal and monetary policy changes, including direct capital infusions into companies and other issuers, new monetary policy tools, and lower interest rates. An unexpected or sudden reversal of these policies, or the ineffectiveness of such policies, is likely to increase market volatility, which could adversely affect the Fund’s investments. |
■ | Pre-Existing Conditions. Public health crises caused by the outbreak may exacerbate other pre-existing political, social and economic risks in certain countries or globally. |
Approximate
Value of a Creation Unit |
Creation
Unit Size |
Standard
Creation/ Redemption Transaction Fee |
Maximum
Additional
Charge for Creations* |
Maximum
Additional
Charge for Redemptions* |
||||
$1,308,500 | 50,000 | $800 | 3.0% | 2.0% |
* | As a percentage of the net asset value per Creation Unit, inclusive, in the case of redemptions, of the standard redemption transaction fee. |
Premium/Discount Range | Number of Days | Percentage of Total Days | ||
Greater than 0.0% and Less than 0.5% | 13 | 24.53% | ||
At NAV | 8 | 15.09 | ||
Less than 0.0% and Greater than -0.5% | 32 | 60.38 | ||
53 | 100.00% |
Call: |
1-800-iShares
or 1-800-474-2737 (toll free)
Monday through Friday, 8:30 a.m. to 6:30 p.m. (Eastern time) |
Email: | iSharesETFs@blackrock.com |
Write: |
c/o
BlackRock Investments, LLC
1 University Square Drive, Princeton, NJ 08540 |
July 31, 2020 | |
2020 Prospectus |
• |
iShares Factors US Small
Blend Style ETF | STSB | CBOE BZX
|
|
S-1 |
|
1 |
|
2 |
|
12 |
|
15 |
|
15 |
|
18 |
|
27 |
|
27 |
|
28 |
|
28 |
|
30 |
Ticker: STSB | Stock Exchange: Cboe BZX |
1 | The amount rounded to 0.00%. |
1 Year | 3 Years | |||
$36 | $113 |
■ | General Impact. This outbreak has resulted in travel restrictions, closed international borders, enhanced health screenings at ports of entry and elsewhere, disruption of and delays in healthcare service preparation and delivery, prolonged quarantines, cancellations, supply chain disruptions, lower consumer demand, temporary closures of stores, restaurants and other commercial establishments, layoffs, defaults and other significant economic impacts, as well as general concern and uncertainty. |
■ | Market Volatility. The outbreak has also resulted in extreme volatility, severe losses, |
■ | Market Closures. Certain local markets have been or may be subject to closures, and there can be no assurance that trading will continue in any local markets in which the Fund may invest, when any resumption of trading will occur or, once such markets resume trading, whether they will face further closures. Any suspension of trading in markets in which the Fund invests will have an impact on the Fund and its investments and will impact the Fund’s ability to purchase or sell securities in such markets. |
■ | Operational Risk. The outbreak could also impair the information technology and other operational systems upon which the Fund’s service providers, including BFA, rely, and could otherwise disrupt the ability of employees of the Fund’s service providers to perform critical tasks relating to the Fund, for example, due to the service providers’ employees performing tasks in alternate locations than under normal operating conditions or the illness of certain employees of the Fund’s service providers. |
■ | Governmental Interventions. Governmental and quasi-governmental authorities and regulators throughout the world have responded to the outbreak and the resulting economic disruptions with a variety of fiscal and monetary policy changes, including direct capital infusions into companies and other issuers, new monetary policy tools, and lower interest rates. An unexpected or sudden reversal of these policies, or the ineffectiveness of such policies, is likely to increase market volatility, which could adversely affect the Fund’s investments. |
■ | Pre-Existing Conditions. Public health crises caused by the outbreak may exacerbate other pre-existing political, social and economic risks in certain countries or globally. |
Approximate
Value of a Creation Unit |
Creation
Unit Size |
Standard
Creation/ Redemption Transaction Fee |
Maximum
Additional
Charge for Creations* |
Maximum
Additional
Charge for Redemptions* |
||||
$1,359,000 | 50,000 | $1,650 | 3.0% | 2.0% |
* | As a percentage of the net asset value per Creation Unit, inclusive, in the case of redemptions, of the standard redemption transaction fee. |
Premium/Discount Range | Number of Days | Percentage of Total Days | ||
Greater than 0.0% and Less than 0.5% | 11 | 20.75% | ||
At NAV | 4 | 7.55 | ||
Less than 0.0% and Greater than -0.5% | 38 | 71.70 | ||
53 | 100.00% |
Call: |
1-800-iShares
or 1-800-474-2737 (toll free)
Monday through Friday, 8:30 a.m. to 6:30 p.m. (Eastern time) |
Email: | iSharesETFs@blackrock.com |
Write: |
c/o
BlackRock Investments, LLC
1 University Square Drive, Princeton, NJ 08540 |
July 31, 2020 | |
2020 Prospectus |
• |
iShares Factors US Value
Style ETF | STLV | CBOE BZX
|
|
S-1 |
|
1 |
|
2 |
|
12 |
|
15 |
|
15 |
|
18 |
|
27 |
|
28 |
|
29 |
|
29 |
|
31 |
Ticker: STLV | Stock Exchange: Cboe BZX |
1 | The amount rounded to 0.00%. |
1 Year | 3 Years | |||
$26 | $80 |
■ | General Impact. This outbreak has resulted in travel restrictions, closed international borders, enhanced health screenings at ports of entry and elsewhere, disruption of and delays in healthcare service preparation and delivery, prolonged quarantines, cancellations, supply chain disruptions, lower consumer demand, temporary closures of stores, restaurants and other commercial establishments, layoffs, defaults and other significant economic impacts, as well as general concern and uncertainty. |
■ | Market Volatility. The outbreak has also resulted in extreme volatility, severe losses, and disruptions in markets which can adversely impact the Fund and its investments, including impairing hedging activity to the extent a Fund engages in such activity, as expected correlations between related markets or instruments may no longer apply. In addition, to the extent the Fund invests in short-term instruments that have negative yields, the Fund’s value may be impaired as a result. Certain issuers of equity securities have cancelled or announced the suspension of dividends. The outbreak has, and may continue to, negatively affect the credit ratings of some fixed income securities and their issuers. |
■ | Market Closures. Certain local markets have been or may be subject to closures, and there can be no assurance that trading will continue in any local markets in which the Fund may invest, when any resumption of trading will occur or, once such markets resume trading, whether they will face further closures. Any suspension of trading in markets in which the Fund invests will have an impact on the Fund and its investments and will impact the Fund’s ability to purchase or sell securities in such markets. |
■ | Operational Risk. The outbreak could also impair the information technology and other operational systems upon which the Fund’s service providers, including BFA, rely, and could otherwise disrupt the ability of employees of the Fund’s service providers to perform critical tasks relating to the Fund, for example, due to the service providers’ employees performing tasks in alternate locations than under normal operating conditions or the illness of certain employees of the Fund’s service providers. |
■ | Governmental Interventions. Governmental and quasi-governmental authorities and regulators throughout the world have responded to the outbreak and the resulting |
economic disruptions with a variety of fiscal and monetary policy changes, including direct capital infusions into companies and other issuers, new monetary policy tools, and lower interest rates. An unexpected or sudden reversal of these policies, or the ineffectiveness of such policies, is likely to increase market volatility, which could adversely affect the Fund’s investments. | |
■ | Pre-Existing Conditions. Public health crises caused by the outbreak may exacerbate other pre-existing political, social and economic risks in certain countries or globally. |
Approximate
Value of a Creation Unit |
Creation
Unit Size |
Standard
Creation/ Redemption Transaction Fee |
Maximum
Additional
Charge for Creations* |
Maximum
Additional
Charge for Redemptions* |
||||
$971,500 | 50,000 | $475 | 3.0% | 2.0% |
* | As a percentage of the net asset value per Creation Unit, inclusive, in the case of redemptions, of the standard redemption transaction fee. |
Premium/Discount Range | Number of Days | Percentage of Total Days | ||
Greater than 0.0% and Less than 0.5% | 38 | 33.04% | ||
At NAV | 18 | 15.65 | ||
Less than 0.0% and Greater than -0.5% | 59 | 51.31 | ||
115 | 100.00% |
Cumulative Total Returns | ||
Since
Inception |
||
Fund NAV | (29.87)% | |
Fund Market | (29.87) | |
Index | (29.87) |
Total returns for the period since inception are calculated from the inception date of the Fund (1/14/20). The first day of secondary market trading in shares of the Fund was 1/16/20. |
Call: |
1-800-iShares
or 1-800-474-2737 (toll free)
Monday through Friday, 8:30 a.m. to 6:30 p.m. (Eastern time) |
Email: | iSharesETFs@blackrock.com |
Write: |
c/o
BlackRock Investments, LLC
1 University Square Drive, Princeton, NJ 08540 |
July 31, 2020 | |
2020 Prospectus |
• |
iShares Focused Value
Factor ETF | FOVL | NYSE ARCA
|
|
S-1 |
|
1 |
|
2 |
|
11 |
|
13 |
|
13 |
|
16 |
|
25 |
|
26 |
|
27 |
|
27 |
|
29 |
Ticker: FOVL | Stock Exchange: NYSE Arca |
1 | The amount rounded to 0.00%. |
1 Year | 3 Years | 5 Years | 10 Years | |||
$26 | $80 | $141 | $318 |
■ | General Impact. This outbreak has resulted in travel restrictions, closed international borders, enhanced health screenings at ports of entry and elsewhere, disruption of and delays in healthcare service preparation and delivery, prolonged quarantines, cancellations, supply chain disruptions, lower consumer demand, temporary closures of stores, restaurants and other commercial establishments, layoffs, defaults and other significant economic impacts, as well as general concern and uncertainty. |
■ | Market Volatility. The outbreak has also resulted in extreme volatility, severe losses, and disruptions in markets which can adversely impact the Fund and its investments, including impairing hedging activity to the extent a Fund engages in such activity, as expected correlations between related markets or instruments may no longer apply. In addition, to the extent the Fund invests in short-term instruments that have negative yields, the Fund’s value may be impaired as a result. Certain issuers of equity securities have cancelled or announced the suspension of dividends. The outbreak has, and may continue to, negatively affect the credit ratings of some fixed income securities and their issuers. |
■ | Market Closures. Certain local markets have been or may be subject to closures, and there can be no assurance that trading will continue in any local markets in which the Fund may invest, when any resumption of trading will occur or, once such markets resume trading, whether they will face further closures. Any suspension of trading in markets in which the Fund invests will have an impact on the Fund and its investments and will impact the Fund’s ability to purchase or sell securities in such markets. |
■ | Operational Risk. The outbreak could also impair the information technology and other operational systems upon which the Fund’s service providers, including BFA, rely, and could otherwise disrupt the ability of employees of the Fund’s service providers to perform critical tasks relating to the Fund, for example, due to the service providers’ employees performing tasks in alternate locations than under normal operating conditions or the illness of certain employees of the Fund’s service providers. |
■ | Governmental Interventions. Governmental and quasi-governmental authorities and regulators throughout the world have responded to the outbreak and the resulting economic disruptions with a variety of fiscal and monetary policy changes, including |
direct capital infusions into companies and other issuers, new monetary policy tools, and lower interest rates. An unexpected or sudden reversal of these policies, or the ineffectiveness of such policies, is likely to increase market volatility, which could adversely affect the Fund’s investments. | |
■ | Pre-Existing Conditions. Public health crises caused by the outbreak may exacerbate other pre-existing political, social and economic risks in certain countries or globally. |
Approximate
Value of a Creation Unit |
Creation
Unit Size |
Standard
Creation/ Redemption Transaction Fee |
Maximum
Additional
Charge for Creations* |
Maximum
Additional
Charge for Redemptions* |
||||
$1,667,500 | 50,000 | $150 | 3.0% | 2.0% |
* | As a percentage of the net asset value per Creation Unit, inclusive, in the case of redemptions, of the standard redemption transaction fee. |
iShares Focused Value Factor ETF | |||
Year
Ended
03/31/20 |
Period
From
03/19/19(a) to 03/31/19 |
||
Net asset value, beginning of period | $ 48.63 | $ 49.43 | |
Net investment income(b) | 1.33 | 0.04 | |
Net realized and unrealized loss(c) | (18.31) | (0.84) | |
Net decrease from investment operations | (16.98) | (0.80) | |
Distributions (d) | |||
From net investment income | (1.42) | — | |
Total distributions | (1.42) | — | |
Net asset value, end of period | $ 30.23 | $ 48.63 | |
Total Return | |||
Based on net asset value | (35.71)% | (1.62)% (e) | |
Ratios to Average Net Assets | |||
Total expenses | 0.25% | 0.25% (f) | |
Net investment income | 2.76% | 2.36% (f) | |
Supplemental Data | |||
Net assets, end of period (000) | $18,141 | $31,607 | |
Portfolio turnover rate(g) | 149% | 0% (e) | |
(a) Commencement of operations. |
|||
(b) Based on average shares outstanding. | |||
(c) The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share transactions in relation to the fluctuating market values of the Fund’s underlying securities. | |||
(d) Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | |||
(e) Not annualized. | |||
(f) Annualized. | |||
(g) Portfolio turnover rate excludes in-kind transactions. |
Premium/Discount Range | Number of Days | Percentage of Total Days | ||
Greater than 0.0% and Less than 0.5% | 31 | 9.60% | ||
At NAV | 8 | 2.48 | ||
Less than 0.0% and Greater than -0.5% | 284 | 87.92 | ||
323 | 100.00% |
Average Annual Total Returns | Cumulative Total Returns | ||||
1 Year |
Since
Inception |
1 Year |
Since
Inception |
||
Fund NAV | (35.71)% | (35.75)% | (35.71)% | (36.75)% | |
Fund Market | (35.74) | (35.79) | (35.74) | (36.79) | |
Index | (35.60) | (35.73) | (35.60) | (36.64) |
Total returns for the period since inception are calculated from the inception date of the Fund (3/19/19). The first day of secondary market trading in shares of the Fund was 3/21/19. |
Call: |
1-800-iShares
or 1-800-474-2737 (toll free)
Monday through Friday, 8:30 a.m. to 6:30 p.m. (Eastern time) |
Email: | iSharesETFs@blackrock.com |
Write: |
c/o
BlackRock Investments, LLC
1 University Square Drive, Princeton, NJ 08540 |
July 31, 2020 | |
2020 Prospectus |
• |
iShares Global 100
ETF | IOO | NYSE ARCA
|
|
S-1 |
|
1 |
|
2 |
|
14 |
|
19 |
|
19 |
|
22 |
|
31 |
|
32 |
|
34 |
|
34 |
|
37 |
Ticker: IOO | Stock Exchange: NYSE Arca |
1 | The amount rounded to 0.00%. |
1 Year | 3 Years | 5 Years | 10 Years | |||
$41 | $128 | $224 | $505 |
1 | The Fund’s year-to-date return as of June 30, 2020 was -1.36%. |
One Year | Five Years | Ten Years | |||
(Inception Date: 12/5/2000) | |||||
Return Before Taxes | 29.82% | 9.89% | 8.85% | ||
Return After Taxes on Distributions1 | 29.16% | 9.24% | 8.29% | ||
Return After Taxes on Distributions and Sale of Fund Shares1 | 18.06% | 7.71% | 7.16% | ||
S&P Global 100 (Index returns do not reflect deductions for fees, expenses, or taxes) | 29.64% | 9.73% | 8.72% |
1 | After-tax returns in the table above are calculated using the historical highest individual U.S. federal marginal income tax rates and do not reflect the impact of state or local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown, and after-tax returns shown are not relevant to tax-exempt investors or investors who hold shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts (“IRAs”). Fund returns after taxes on distributions and sales of Fund shares are calculated assuming that an investor has sufficient capital gains of the same character from other investments to offset any capital losses from the sale of Fund shares. As a result, Fund returns after taxes on distributions and sales of Fund shares may exceed Fund returns before taxes and/or returns after taxes on distributions. |
■ | General Impact. This outbreak has resulted in travel restrictions, closed international borders, enhanced health screenings at ports of entry and elsewhere, disruption of and delays in healthcare service preparation and delivery, prolonged quarantines, cancellations, supply chain disruptions, lower consumer demand, temporary closures of stores, restaurants and other commercial establishments, layoffs, defaults and other significant economic impacts, as well as general concern and uncertainty. |
■ | Market Volatility. The outbreak has also resulted in extreme volatility, severe losses, and disruptions in markets which can adversely impact the Fund and its investments, including impairing hedging activity to the extent a Fund engages in such activity, as expected correlations between related markets or instruments may no longer apply. In addition, to the extent the Fund invests in short-term instruments that have negative yields, the Fund’s value may be impaired as a result. Certain issuers of equity securities have cancelled or announced the suspension of dividends. The outbreak has, and may continue to, negatively affect the credit ratings of some fixed income securities and their issuers. |
■ | Market Closures. Certain local markets have been or may be subject to closures, and there can be no assurance that trading will continue in any local markets in which the Fund may invest, when any resumption of trading will occur or, once such markets resume trading, whether they will face further closures. Any suspension of trading in markets in which the Fund invests will have an impact on the Fund and its investments and will impact the Fund’s ability to purchase or sell securities in such markets. |
■ | Operational Risk. The outbreak could also impair the information technology and other operational systems upon which the Fund’s service providers, including BFA, rely, and could otherwise disrupt the ability of employees of the Fund’s service providers to perform critical tasks relating to the Fund, for example, due to the |
service providers’ employees performing tasks in alternate locations than under normal operating conditions or the illness of certain employees of the Fund’s service providers. | |
■ | Governmental Interventions. Governmental and quasi-governmental authorities and regulators throughout the world have responded to the outbreak and the resulting economic disruptions with a variety of fiscal and monetary policy changes, including direct capital infusions into companies and other issuers, new monetary policy tools, and lower interest rates. An unexpected or sudden reversal of these policies, or the ineffectiveness of such policies, is likely to increase market volatility, which could adversely affect the Fund’s investments. |
■ | Pre-Existing Conditions. Public health crises caused by the outbreak may exacerbate other pre-existing political, social and economic risks in certain countries or globally. |
■ | A lack of market liquidity and market efficiency; |
■ | Greater securities price volatility; |
■ | Exchange rate fluctuations and exchange controls; |
■ | Less availability of public information about issuers; |
■ | Limitations on foreign ownership of securities; |
■ | Imposition of withholding or other taxes; |
■ | Imposition of restrictions on the expatriation of the funds or other assets of the Fund; |
■ | Higher transaction and custody costs and delays in settlement procedures; |
■ | Difficulties in enforcing contractual obligations; |
■ | Lower levels of regulation of the securities markets; |
■ | Weaker accounting, disclosure and reporting requirements; and |
■ | Legal principles relating to corporate governance, directors’ fiduciary duties and liabilities and stockholders’ rights in markets in which the Fund invests may differ from and/or may not be as extensive or protective as those that apply in the U.S. |
Approximate
Value of a Creation Unit |
Creation
Unit Size |
Standard
Creation/ Redemption Transaction Fee |
Maximum
Additional
Charge for Creations* |
Maximum
Additional
Charge for Redemptions* |
||||
$2,486,000 | 50,000 | $2,000 | 3.0% | 2.0% |
* | As a percentage of the net asset value per Creation Unit, inclusive, in the case of redemptions, of the standard redemption transaction fee. |
iShares Global 100 ETF | |||||||||
Year
Ended
03/31/20 |
Year
Ended
03/31/19(a) |
Year
Ended
03/31/18(a) |
Year
Ended
03/31/17(a) |
Year
Ended
03/31/16(a) |
|||||
Net asset value, beginning of year | $ 47.57 | $ 45.54 | $ 40.90 | $ 36.07 | $ 38.43 | ||||
Net investment income(b) | 1.06 | 1.14 | 1.02 | 1.05 | 1.03 | ||||
Net realized and unrealized gain (loss)(c) | (2.83) | 1.97 | 4.65 | 4.84 | (2.34) | ||||
Net increase (decrease) from investment operations | (1.77) | 3.11 | 5.67 | 5.89 | (1.31) | ||||
Distributions (d) | |||||||||
From net investment income | (1.09) | (1.08) | (1.03) | (1.06) | (1.05) | ||||
Total distributions | (1.09) | (1.08) | (1.03) | (1.06) | (1.05) | ||||
Net asset value, end of year | $ 44.71 | $ 47.57 | $ 45.54 | $ 40.90 | $ 36.07 | ||||
Total Return | |||||||||
Based on net asset value | (3.91)% | 7.00% | 13.97% | 16.66% (e) | (3.52)% | ||||
Ratios to Average Net Assets | |||||||||
Total expenses | 0.40% | 0.40% | 0.40% | 0.40% | 0.40% | ||||
Total expenses excluding professional fees for foreign withholding tax claims | 0.40% | N/A | N/A | 0.40% | N/A | ||||
Net investment income | 2.11% | 2.46% | 2.30% | 2.78% | 2.78% | ||||
Supplemental Data | |||||||||
Net assets, end of year (000) | $1,855,568 | $2,031,281 | $1,780,507 | $1,590,950 | $1,630,166 | ||||
Portfolio turnover rate(f) | 5% | 9% | 8% | 5% | 5% | ||||
(a) Per share amounts reflect a two-for-one stock split effective after the close of trading on May 1, 2018. |
|||||||||
(b) Based on average shares outstanding. | |||||||||
(c) The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share transactions in relation to the fluctuating market values of the Fund’s underlying securities. | |||||||||
(d) Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | |||||||||
(e) Reflects the one-time, positive effect of foreign withholding tax claims, net of the associated professional fees, which resulted in the following
increases for the year ended March 31, 2017:
• Total return by 0.01% |
|||||||||
(f) Portfolio turnover rate excludes in-kind transactions. |
Premium/Discount Range | Number of Days | Percentage of Total Days | ||
Greater than 1.0% and Less than 1.5% | 1 | 0.27% | ||
Greater than 0.5% and Less than 1.0% | 1 | 0.27 | ||
Greater than 0.0% and Less than 0.5% | 171 | 45.35 | ||
At NAV | 9 | 2.39 | ||
Less than 0.0% and Greater than -0.5% | 189 | 50.12 | ||
Less than -0.5% and Greater than -1.0% | 5 | 1.33 | ||
Less than -1.0% and Greater than -1.5% | 1 | 0.27 | ||
377 | 100.00% |
Average Annual Total Returns | Cumulative Total Returns | ||||||
1 Year | 5 Years | 10 Years | 1 Year | 5 Years | 10 Years | ||
Fund NAV | (3.91)% | 5.69% | 6.78% | (3.91)% | 31.89% | 92.67% | |
Fund Market | (4.00) | 5.67 | 6.77 | (4.00) | 31.77 | 92.50 | |
Index | (4.05) | 5.53 | 6.64 | (4.05) | 30.91 | 90.24 |
Index performance through January 30, 2013 is calculated using currency exchange (FX) rates corresponding to 5:15 P.M. ET. Index performance beginning on January 31, 2013 is calculated using FX rates corresponding to World Market Reuters 4:00 P.M. London. |
Call: |
1-800-iShares
or 1-800-474-2737 (toll free)
Monday through Friday, 8:30 a.m. to 6:30 p.m. (Eastern time) |
Email: | iSharesETFs@blackrock.com |
Write: |
c/o
BlackRock Investments, LLC
1 University Square Drive, Princeton, NJ 08540 |
July 31, 2020 | |
2020 Prospectus |
• |
iShares Global Clean
Energy ETF | ICLN | NASDAQ
|
|
S-1 |
|
1 |
|
2 |
|
16 |
|
19 |
|
19 |
|
23 |
|
33 |
|
34 |
|
35 |
|
35 |
|
38 |
Ticker: ICLN | Stock Exchange: NASDAQ |
1 | The amount rounded to 0.00%. |
1 Year | 3 Years | 5 Years | 10 Years | |||
$47 | $148 | $258 | $579 |
1 | The Fund’s year-to-date return as of June 30, 2020 was 6.78%. |
One Year | Five Years | Ten Years | |||
(Inception Date: 06/24/2008) | |||||
Return Before Taxes | 43.81% | 6.46% | -3.60% | ||
Return After Taxes on Distributions1 | 43.31% | 5.76% | -4.25% | ||
Return After Taxes on Distributions and Sale of Fund Shares1 | 26.24% | 4.86% | -2.77% | ||
S&P Global Clean Energy Index (Index returns do not reflect deductions for fees, expenses, or taxes) | 44.35% | 5.82% | -4.56% |
1 | After-tax returns in the table above are calculated using the historical highest individual U.S. federal marginal income tax rates and do not reflect the impact of state or local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown, and after-tax returns shown are not relevant to tax-exempt investors or investors who hold shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts (“IRAs”). Fund returns after taxes on distributions and sales of Fund shares are calculated assuming that an investor has sufficient capital gains of the same character from other investments to offset any capital losses from the sale of Fund shares. As a result, Fund returns after taxes on distributions and sales of Fund shares may exceed Fund returns before taxes and/or returns after taxes on distributions. |
■ | General Impact. This outbreak has resulted in travel restrictions, closed international borders, enhanced health screenings at ports of entry and elsewhere, disruption of and delays in healthcare service preparation and delivery, prolonged quarantines, cancellations, supply chain disruptions, lower consumer demand, temporary closures of stores, restaurants and other commercial establishments, layoffs, defaults and other significant economic impacts, as well as general concern and uncertainty. |
■ | Market Volatility. The outbreak has also resulted in extreme volatility, severe losses, and disruptions in markets which can adversely impact the Fund and its investments, including impairing hedging activity to the extent a Fund engages in such activity, as expected correlations between related markets or instruments may no longer apply. In addition, to the extent the Fund invests in short-term instruments that have negative yields, the Fund’s value may be impaired as a result. Certain issuers of equity securities have cancelled or announced the suspension of dividends. The outbreak has, and may continue to, negatively affect the credit ratings of some fixed income securities and their issuers. |
■ | Market Closures. Certain local markets have been or may be subject to closures, and there can be no assurance that trading will continue in any local markets in which the Fund may invest, when any resumption of trading will occur or, once such markets resume trading, whether they will face further closures. Any suspension of trading in markets in which the Fund invests will have an impact on the Fund and its investments and will impact the Fund’s ability to purchase or sell securities in such markets. |
■ | Operational Risk. The outbreak could also impair the information technology and other operational systems upon which the Fund’s service providers, including BFA, rely, and could otherwise disrupt the ability of employees of the Fund’s service providers to perform critical tasks relating to the Fund, for example, due to the service providers’ employees performing tasks in alternate locations than under normal operating conditions or the illness of certain employees of the Fund’s service providers. |
■ | Governmental Interventions. Governmental and quasi-governmental authorities and regulators throughout the world have responded to the outbreak and the resulting economic disruptions with a variety of fiscal and monetary policy changes, including direct capital infusions into companies and other issuers, new monetary policy tools, and lower interest rates. An unexpected or sudden reversal of these policies, or the ineffectiveness of such policies, is likely to increase market volatility, which could adversely affect the Fund’s investments. |
■ | Pre-Existing Conditions. Public health crises caused by the outbreak may exacerbate other pre-existing political, social and economic risks in certain countries or globally. |
■ | A lack of market liquidity and market efficiency; |
■ | Greater securities price volatility; |
■ | Exchange rate fluctuations and exchange controls; |
■ | Less availability of public information about issuers; |
■ | Limitations on foreign ownership of securities; |
■ | Imposition of withholding or other taxes; |
■ | Imposition of restrictions on the expatriation of the funds or other assets of the Fund; |
■ | Higher transaction and custody costs and delays in settlement procedures; |
■ | Difficulties in enforcing contractual obligations; |
■ | Lower levels of regulation of the securities markets; |
■ | Weaker accounting, disclosure and reporting requirements; and |
■ | Legal principles relating to corporate governance, directors’ fiduciary duties and liabilities and stockholders’ rights in markets in which the Fund invests may differ from and/or may not be as extensive or protective as those that apply in the U.S. |
Approximate
Value of a Creation Unit |
Creation
Unit Size |
Standard
Creation/ Redemption Transaction Fee |
Maximum
Additional
Charge for Creations* |
Maximum
Additional
Charge for Redemptions* |
||||
$1,074,000 | 100,000 | $300 | 7.0% | 2.0% |
* | As a percentage of the net asset value per Creation Unit, inclusive, in the case of redemptions, of the standard redemption transaction fee. |
iShares Global Clean Energy ETF | |||||||||
Year
Ended
03/31/20 |
Year
Ended
03/31/19 |
Year
Ended
03/31/18 |
Year
Ended
03/31/17 |
Year
Ended
03/31/16 |
|||||
Net asset value, beginning of year | $ 9.75 | $ 9.47 | $ 8.54 | $ 9.27 | $ 11.86 | ||||
Net investment income(a) | 0.11 | 0.19 | 0.26 | 0.25 | 0.23 | ||||
Net realized and unrealized gain (loss)(b) | (0.08) | 0.32 | 0.90 | (0.67) | (2.59) | ||||
Net increase (decrease) from investment operations | 0.03 | 0.51 | 1.16 | (0.42) | (2.36) | ||||
Distributions (c) | |||||||||
From net investment income | (0.16) | (0.23) | (0.23) | (0.31) | (0.23) | ||||
Total distributions | (0.16) | (0.23) | (0.23) | (0.31) | (0.23) | ||||
Net asset value, end of year | $ 9.62 | $ 9.75 | $ 9.47 | $ 8.54 | $ 9.27 | ||||
Total Return | |||||||||
Based on net asset value | 0.12% | 5.69% | 13.90% | (4.39)% | (20.17)% | ||||
Ratios to Average Net Assets | |||||||||
Total expenses | 0.46% | 0.46% | 0.47% | 0.48% | 0.47% | ||||
Net investment income | 1.01% | 2.13% | 2.91% | 2.86% | 2.28% | ||||
Supplemental Data | |||||||||
Net assets, end of year (000) | $499,227 | $208,595 | $156,209 | $80,235 | $83,418 | ||||
Portfolio turnover rate(d) | 37% | 42% | 29% | 35% | 39% | ||||
(a) Based on average shares outstanding. |
|||||||||
(b) The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share transactions in relation to the fluctuating market values of the Fund’s underlying securities. | |||||||||
(c) Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | |||||||||
(d) Portfolio turnover rate excludes in-kind transactions. |
Premium/Discount Range | Number of Days | Percentage of Total Days | ||
Greater than 1.0% and Less than 1.5% | 1 | 0.27% | ||
Greater than 0.5% and Less than 1.0% | 22 | 5.84 | ||
Greater than 0.0% and Less than 0.5% | 260 | 68.96 | ||
At NAV | 2 | 0.53 | ||
Less than 0.0% and Greater than -0.5% | 81 | 21.48 | ||
Less than -0.5% and Greater than -1.0% | 6 | 1.59 | ||
Less than -1.0% and Greater than -1.5% | 3 | 0.80 | ||
Less than -1.5% and Greater than -2.0% | 2 | 0.53 | ||
377 | 100.00% |
Average Annual Total Returns | Cumulative Total Returns | ||||||
1 Year | 5 Years | 10 Years | 1 Year | 5 Years | 10 Years | ||
Fund NAV | 0.12% | (1.65)% | (4.01)% | 0.12% | (8.00)% | (33.55)% | |
Fund Market | 0.02 | (1.72) | (3.94) | 0.02 | (8.33) | (33.11) | |
Index | 0.32 | (2.12) | (4.94) | 0.32 | (10.16) | (39.74) |
Call: |
1-800-iShares
or 1-800-474-2737 (toll free)
Monday through Friday, 8:30 a.m. to 6:30 p.m. (Eastern time) |
Email: | iSharesETFs@blackrock.com |
Write: |
c/o
BlackRock Investments, LLC
1 University Square Drive, Princeton, NJ 08540 |
July 31, 2020 | |
2020 Prospectus |
• |
iShares Global Comm
Services ETF | IXP | NYSE ARCA
|
|
S-1 |
|
1 |
|
2 |
|
14 |
|
18 |
|
18 |
|
22 |
|
32 |
|
33 |
|
34 |
|
34 |
|
37 |
Ticker: IXP | Stock Exchange: NYSE Arca |
1 | The amount rounded to 0.00%. |
1 Year | 3 Years | 5 Years | 10 Years | |||
$47 | $148 | $258 | $579 |
1 | The Fund’s year-to-date return as of June 30, 2020 was 0.60%. |
One Year | Five Years | Ten Years | |||
(Inception Date: 11/12/2001) | |||||
Return Before Taxes | 25.07% | 3.90% | 6.06% | ||
Return After Taxes on Distributions1 | 24.39% | 3.18% | 5.20% | ||
Return After Taxes on Distributions and Sale of Fund Shares1 | 15.27% | 3.06% | 4.97% | ||
S&P Global 1200 Communication Services 4.5/22.5/45 Capped Index (Index returns do not reflect deductions for fees, expenses, or taxes)2 | 25.65% | 3.86% | 5.98% |
1 | After-tax returns in the table above are calculated using the historical highest individual U.S. federal marginal income tax rates and do not reflect the impact of state or local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown, and after-tax returns shown are not relevant to tax-exempt investors or investors who hold shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts (“IRAs”). Fund returns after taxes on distributions and sales of Fund shares are calculated assuming that an investor has sufficient capital gains of the same character from other investments to offset any capital losses from the sale of Fund shares. As a result, Fund returns after taxes on distributions and sales of Fund shares may exceed Fund returns before taxes and/or returns after taxes on distributions. |
2 | Index performance through June 23, 2019 reflects the performance of the S&P Global 1200 Communication Services Sector Index. Index performance beginning on June 24, 2019 reflects the performance of S&P Global 1200 Communication Services 4.5/22.5/45 Capped Index, which, effective as of June 24, 2019, replaced the S&P Global 1200 Communication Services Sector Index as the underlying index of the Fund. |
■ | General Impact. This outbreak has resulted in travel restrictions, closed international borders, enhanced health screenings at ports of entry and elsewhere, disruption of and delays in healthcare service preparation and delivery, prolonged quarantines, cancellations, supply chain disruptions, lower consumer demand, temporary closures of stores, restaurants and other commercial establishments, layoffs, defaults and other significant economic impacts, as well as general concern and uncertainty. |
■ | Market Volatility. The outbreak has also resulted in extreme volatility, severe losses, and disruptions in markets which can adversely impact the Fund and its investments, including impairing hedging activity to the extent a Fund engages in such activity, as expected correlations between related markets or instruments may no longer apply. In addition, to the extent the Fund invests in short-term instruments that have negative yields, the Fund’s value may be impaired as a result. Certain issuers of equity securities have cancelled or announced the suspension of dividends. The outbreak has, and may continue to, negatively affect the credit ratings of some fixed income securities and their issuers. |
■ | Market Closures. Certain local markets have been or may be subject to closures, and there can be no assurance that trading will continue in any local markets in which the Fund may invest, when any resumption of trading will occur or, once such markets resume trading, whether they will face further closures. Any suspension of trading in markets in which the Fund invests will have an impact on the Fund and its investments and will impact the Fund’s ability to purchase or sell securities in such markets. |
■ | Operational Risk. The outbreak could also impair the information technology and other operational systems upon which the Fund’s service providers, including BFA, rely, and could otherwise disrupt the ability of employees of the Fund’s service providers to perform critical tasks relating to the Fund, for example, due to the |
service providers’ employees performing tasks in alternate locations than under normal operating conditions or the illness of certain employees of the Fund’s service providers. | |
■ | Governmental Interventions. Governmental and quasi-governmental authorities and regulators throughout the world have responded to the outbreak and the resulting economic disruptions with a variety of fiscal and monetary policy changes, including direct capital infusions into companies and other issuers, new monetary policy tools, and lower interest rates. An unexpected or sudden reversal of these policies, or the ineffectiveness of such policies, is likely to increase market volatility, which could adversely affect the Fund’s investments. |
■ | Pre-Existing Conditions. Public health crises caused by the outbreak may exacerbate other pre-existing political, social and economic risks in certain countries or globally. |
■ | A lack of market liquidity and market efficiency; |
■ | Greater securities price volatility; |
■ | Exchange rate fluctuations and exchange controls; |
■ | Less availability of public information about issuers; |
■ | Limitations on foreign ownership of securities; |
■ | Imposition of withholding or other taxes; |
■ | Imposition of restrictions on the expatriation of the funds or other assets of the Fund; |
■ | Higher transaction and custody costs and delays in settlement procedures; |
■ | Difficulties in enforcing contractual obligations; |
■ | Lower levels of regulation of the securities markets; |
■ | Weaker accounting, disclosure and reporting requirements; and |
■ | Legal principles relating to corporate governance, directors’ fiduciary duties and liabilities and stockholders’ rights in markets in which the Fund invests may differ from and/or may not be as extensive or protective as those that apply in the U.S. |
Approximate
Value of a Creation Unit |
Creation
Unit Size |
Standard
Creation/ Redemption Transaction Fee |
Maximum
Additional
Charge for Creations* |
Maximum
Additional
Charge for Redemptions* |
||||
$2,875,500 | 50,000 | $900 | 7.0% | 2.0% |
* | As a percentage of the net asset value per Creation Unit, inclusive, in the case of redemptions, of the standard redemption transaction fee. |
iShares Global Comm Services ETF | |||||||||
Year
Ended
03/31/20 |
Year
Ended
03/31/19 |
Year
Ended
03/31/18 |
Year
Ended
03/31/17 |
Year
Ended
03/31/16 |
|||||
Net asset value, beginning of year | $ 56.22 | $ 57.19 | $ 59.45 | $ 62.37 | $ 61.30 | ||||
Net investment income(a) | 0.78 | 1.82 | 2.21 | 2.28 | 2.28 | ||||
Net realized and unrealized gain (loss)(b) | (3.85) | (0.62) | (2.41) | (2.84) | 1.04 | ||||
Net increase (decrease) from investment operations | (3.07) | 1.20 | (0.20) | (0.56) | 3.32 | ||||
Distributions (c) | |||||||||
From net investment income | (1.34) | (2.17) | (2.06) | (2.36) | (2.25) | ||||
Total distributions | (1.34) | (2.17) | (2.06) | (2.36) | (2.25) | ||||
Net asset value, end of year | $ 51.81 | $ 56.22 | $ 57.19 | $ 59.45 | $ 62.37 | ||||
Total Return | |||||||||
Based on net asset value | (5.70)% | 2.37% | (0.46)% | (0.91)% | 5.59% | ||||
Ratios to Average Net Assets | |||||||||
Total expenses | 0.46% | 0.46% | 0.47% | 0.48% | 0.47% | ||||
Net investment income | 1.34% | 3.28% | 3.71% | 3.74% | 3.74% | ||||
Supplemental Data | |||||||||
Net assets, end of year (000) | $225,363 | $236,105 | $400,339 | $303,171 | $408,503 | ||||
Portfolio turnover rate(d) | 24% | 79% | 3% | 5% | 13% | ||||
(a) Based on average shares outstanding. |
|||||||||
(b) The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share transactions in relation to the fluctuating market values of the Fund’s underlying securities. | |||||||||
(c) Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | |||||||||
(d) Portfolio turnover rate excludes in-kind transactions. |
Premium/Discount Range | Number of Days | Percentage of Total Days | ||
Greater than 0.5% and Less than 1.0% | 2 | 0.53% | ||
Greater than 0.0% and Less than 0.5% | 129 | 34.23 | ||
At NAV | 12 | 3.18 | ||
Less than 0.0% and Greater than -0.5% | 225 | 59.67 | ||
Less than -0.5% and Greater than -1.0% | 8 | 2.12 | ||
Less than -1.0% and Greater than -1.5% | 1 | 0.27 | ||
377 | 100.00% |
Average Annual Total Returns | Cumulative Total Returns | ||||||
1 Year | 5 Years | 10 Years | 1 Year | 5 Years | 10 Years | ||
Fund NAV | (5.70)% | 0.11% | 4.60% | (5.70)% | 0.53% | 56.81% | |
Fund Market | (5.63) | 0.15 | 4.59 | (5.63) | 0.75 | 56.69 | |
Index (a) | (5.31) | 0.08 | 4.52 | (5.31) | 0.41 | 55.66 | |
S&P Global 1200 Communication Services Sector Index™ | (4.87) | 0.18 | 4.57 | (4.87) | 0.88 | 56.27 | |
S&P Global 1200 Communication Services 4.5/22.5/45 Capped Index™(b) | (5.37) | N/A | N/A | (5.37) | N/A | N/A |
Index performance through January 30, 2013 is calculated using currency exchange (FX) rates corresponding to 5:15 P.M. E.T. Index performance beginning on January 31, 2013 is calculated using FX rates corresponding to World Market Reuters 4:00 P.M. London. |
(a) | Index performance through June 23, 2019 reflects the performance of the S&P Global 1200 Communication Services Sector Index. Index performance beginning on June 24, 2019 reflects the performance of S&P Global 1200 Communication Services 4.5/22.5/45 Capped Index, which, effective as of June 24, 2019, replaced the S&P Global 1200 Communication Services Sector Index as the underlying index of the Fund. |
(b) | The inception date of the S&P Global 1200 Communication Services 4.5/22.5/45 Capped Index was February 11, 2019. |
Call: |
1-800-iShares
or 1-800-474-2737 (toll free)
Monday through Friday, 8:30 a.m. to 6:30 p.m. (Eastern time) |
Email: | iSharesETFs@blackrock.com |
Write: |
c/o
BlackRock Investments, LLC
1 University Square Drive, Princeton, NJ 08540 |
July 31, 2020 | |
2020 Prospectus |
• |
iShares Global Consumer
Discretionary ETF | RXI | NYSE ARCA
|
|
S-1 |
|
1 |
|
2 |
|
13 |
|
15 |
|
16 |
|
19 |
|
28 |
|
30 |
|
31 |
|
31 |
|
34 |
Ticker: RXI | Stock Exchange: NYSE Arca |
1 | The amount rounded to 0.00%. |
1 Year | 3 Years | 5 Years | 10 Years | |||
$47 | $148 | $258 | $579 |
1 | The Fund’s year-to-date return as of June 30, 2020 was -5.63%. |
One Year | Five Years | Ten Years | |||
(Inception Date: 9/12/2006) | |||||
Return Before Taxes | 27.02% | 9.70% | 12.81% | ||
Return After Taxes on Distributions1 | 26.55% | 9.31% | 12.45% | ||
Return After Taxes on Distributions and Sale of Fund Shares1 | 16.29% | 7.62% | 10.67% | ||
S&P Global 1200 Consumer Discretionary Index2 (Index returns do not reflect deductions for fees, expenses, or taxes) | 26.78% | 9.77% | 12.76% | ||
S&P Global 1200 Consumer Discretionary (Sector) Capped Index2 (Index returns do not reflect deductions for fees, expenses, or taxes) | N/A | N/A | N/A |
1 | After-tax returns in the table above are calculated using the historical highest individual U.S. federal marginal income tax rates and do not reflect the impact of state or local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown, and after-tax returns shown are not relevant to tax-exempt investors or investors who hold shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts (“IRAs”). Fund returns after taxes on distributions and sales of Fund shares are calculated assuming that an investor has sufficient capital gains of the same character from other investments to offset any capital losses from the sale of Fund shares. As a result, Fund returns after taxes on distributions and sales of Fund shares may exceed Fund returns before taxes and/or returns after taxes on distributions. |
2 | Effective September 23, 2019, the Fund's Underlying Index changed from the S&P Global 1200 Consumer Discretionary Index to the S&P Global Consumer Discretionary (Sector) Capped Index, consistent with the change in the Fund's principal investment strategies to track the investment results of the S&P Global 1200 Consumer Discretionary (Sector) Capped Index. The inception date of the S&P Global 1200 Consumer Discretionary (Sector) Capped Index was May 20, 2019. |
■ | General Impact. This outbreak has resulted in travel restrictions, closed international borders, enhanced health screenings at ports of entry and elsewhere, disruption of and delays in healthcare service preparation and delivery, prolonged quarantines, cancellations, supply chain disruptions, lower consumer demand, temporary closures of stores, restaurants and other commercial establishments, layoffs, defaults and other significant economic impacts, as well as general concern and uncertainty. |
■ | Market Volatility. The outbreak has also resulted in extreme volatility, severe losses, and disruptions in markets which can adversely impact the Fund and its investments, including impairing hedging activity to the extent a Fund engages in such activity, as expected correlations between related markets or instruments may no longer apply. In addition, to the extent the Fund invests in short-term instruments that have negative yields, the Fund’s value may be impaired as a result. Certain issuers of equity securities have cancelled or announced the suspension of dividends. The outbreak has, and may continue to, negatively affect the credit ratings of some fixed income securities and their issuers. |
■ | Market Closures. Certain local markets have been or may be subject to closures, and there can be no assurance that trading will continue in any local markets in which the Fund may invest, when any resumption of trading will occur or, once such markets resume trading, whether they will face further closures. Any suspension of trading in markets in which the Fund invests will have an impact on the Fund and its investments and will impact the Fund’s ability to purchase or sell securities in such markets. |
■ | Operational Risk. The outbreak could also impair the information technology and other operational systems upon which the Fund’s service providers, including BFA, rely, and could otherwise disrupt the ability of employees of the Fund’s service providers to perform critical tasks relating to the Fund, for example, due to the service providers’ employees performing tasks in alternate locations than under normal operating conditions or the illness of certain employees of the Fund’s service providers. |
■ | Governmental Interventions. Governmental and quasi-governmental authorities and regulators throughout the world have responded to the outbreak and the resulting economic disruptions with a variety of fiscal and monetary policy changes, including direct capital infusions into companies and other issuers, new monetary policy tools, and lower interest rates. An unexpected or sudden reversal of these policies, |
or the ineffectiveness of such policies, is likely to increase market volatility, which could adversely affect the Fund’s investments. | |
■ | Pre-Existing Conditions. Public health crises caused by the outbreak may exacerbate other pre-existing political, social and economic risks in certain countries or globally. |
■ | A lack of market liquidity and market efficiency; |
■ | Greater securities price volatility; |
■ | Exchange rate fluctuations and exchange controls; |
■ | Less availability of public information about issuers; |
■ | Limitations on foreign ownership of securities; |
■ | Imposition of withholding or other taxes; |
■ | Imposition of restrictions on the expatriation of the funds or other assets of the Fund; |
■ | Higher transaction and custody costs and delays in settlement procedures; |
■ | Difficulties in enforcing contractual obligations; |
■ | Lower levels of regulation of the securities markets; |
■ | Weaker accounting, disclosure and reporting requirements; and |
■ | Legal principles relating to corporate governance, directors’ fiduciary duties and liabilities and stockholders’ rights in markets in which the Fund invests may differ from and/or may not be as extensive or protective as those that apply in the U.S. |
Approximate
Value of a Creation Unit |
Creation
Unit Size |
Standard
Creation/ Redemption Transaction Fee |
Maximum
Additional
Charge for Creations* |
Maximum
Additional
Charge for Redemptions* |
||||
$5,414,000 | 50,000 | $2,200 | 7.0% | 2.0% |
* | As a percentage of the net asset value per Creation Unit, inclusive, in the case of redemptions, of the standard redemption transaction fee. |
iShares Global Consumer Discretionary ETF | |||||||||
Year
Ended
03/31/20 |
Year
Ended
03/31/19 |
Year
Ended
03/31/18 |
Year
Ended
03/31/17 |
Year
Ended
03/31/16 |
|||||
Net asset value, beginning of year | $ 113.27 | $ 111.45 | $ 96.61 | $ 88.72 | $ 90.55 | ||||
Net investment income(a) | 1.75 | 1.70 | 1.42 | 1.51 | 1.27 | ||||
Net realized and unrealized gain (loss)(b) | (18.03) | 1.87 | 14.79 | 7.97 | (2.06) | ||||
Net increase (decrease) from investment operations | (16.28) | 3.57 | 16.21 | 9.48 | (0.79) | ||||
Distributions (c) | |||||||||
From net investment income | (1.87) | (1.75) | (1.37) | (1.59) | (1.04) | ||||
Total distributions | (1.87) | (1.75) | (1.37) | (1.59) | (1.04) | ||||
Net asset value, end of year | $ 95.12 | $ 113.27 | $ 111.45 | $ 96.61 | $ 88.72 | ||||
Total Return | |||||||||
Based on net asset value | (14.71)% (d) | 3.32% | 16.81% | 10.86% | (0.90)% | ||||
Ratios to Average Net Assets | |||||||||
Total expenses | 0.46% | 0.46% | 0.47% | 0.48% | 0.47% | ||||
Net investment income | 1.47% | 1.51% | 1.35% | 1.68% | 1.42% | ||||
Supplemental Data | |||||||||
Net assets, end of year (000) | $156,949 | $203,889 | $278,617 | $202,874 | $266,163 | ||||
Portfolio turnover rate(e) | 17% | 30% | 6% | 13% | 7% | ||||
(a) Based on average shares outstanding. |
|||||||||
(b) The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share transactions in relation to the fluctuating market values of the Fund’s underlying securities. | |||||||||
(c) Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | |||||||||
(d) Includes payment received from an affiliate, which had no impact on the Fund’s total return. | |||||||||
(e) Portfolio turnover rate excludes in-kind transactions. |
Premium/Discount Range | Number of Days | Percentage of Total Days | ||
Greater than 1.0% and Less than 1.5% | 1 | 0.27% | ||
Greater than 0.5% and Less than 1.0% | 7 | 1.86 | ||
Greater than 0.0% and Less than 0.5% | 148 | 39.26 | ||
At NAV | 14 | 3.71 | ||
Less than 0.0% and Greater than -0.5% | 192 | 50.92 | ||
Less than -0.5% and Greater than -1.0% | 12 | 3.18 | ||
Less than -1.0% and Greater than -1.5% | 3 | 0.80 | ||
377 | 100.00% |
Average Annual Total Returns | Cumulative Total Returns | ||||||
1 Year | 5 Years | 10 Years | 1 Year | 5 Years | 10 Years | ||
Fund NAV | (14.71)% | 2.49% | 8.97% | (14.71)% | 13.09% | 136.00% | |
Fund Market | (14.95) | 2.47 | 8.92 | (14.95) | 12.95 | 135.00 | |
Index (a) | (14.76) | 2.57 | 8.97 | (14.76) | 13.55 | 136.10 | |
S&P Global 1200 Consumer Discretionary Index™ | (12.20) | 3.18 | 9.29 | (12.20) | 16.97 | 143.13 | |
S&P Global 1200 Consumer Discretionary (Sector) Capped Index™(b) | N/A | N/A | N/A | N/A | N/A | N/A |
Index performance through January 30, 2013 is calculated using currency exchange (FX) |
rates corresponding to 5:15 P.M. ET. Index performance beginning on January 31, 2013 is calculated using FX rates corresponding to World Market Reuters 4:00 P.M. London. |
On September 23, 2019, the Fund changed its Underlying Index from the S&P Global 1200 Consumer Discretionary Index to the S&P Global 1200 Consumer Discretionary (Sector) Capped Index. |
(a) | Index performance through September 22, 2019 reflects the performance of the S&P Global 1200 Consumer Discretionary Index. Index performance beginning on September 23, 2019 reflects the performance of the S&P Global 1200 Consumer Discretionary (Sector) Capped Index, which, effective as of September 23, 2019, replaced the S&P Global 1200 Consumer Discretionary Sector Index as the underlying index of the Fund. |
(b) | The inception date of the S&P Global 1200 Consumer Discretionary (Sector) Capped Index was May 20, 2019. The cumulative total return of this index for the period May 20, 2019 through March 31, 2020 was -16.19%. |
Call: |
1-800-iShares
or 1-800-474-2737 (toll free)
Monday through Friday, 8:30 a.m. to 6:30 p.m. (Eastern time) |
Email: | iSharesETFs@blackrock.com |
Write: |
c/o
BlackRock Investments, LLC
1 University Square Drive, Princeton, NJ 08540 |
July 31, 2020 | |
2020 Prospectus |
• |
iShares Global Consumer
Staples ETF | KXI | NYSE ARCA
|
|
S-1 |
|
1 |
|
2 |
|
13 |
|
15 |
|
16 |
|
19 |
|
29 |
|
30 |
|
31 |
|
31 |
|
34 |
Ticker: KXI | Stock Exchange: NYSE Arca |
1 | The amount rounded to 0.00%. |
1 Year | 3 Years | 5 Years | 10 Years | |||
$47 | $148 | $258 | $579 |
1 | The Fund’s year-to-date return as of June 30, 2020 was -5.98%. |
One Year | Five Years | Ten Years | |||
(Inception Date: 9/12/2006) | |||||
Return Before Taxes | 23.30% | 6.83% | 9.57% | ||
Return After Taxes on Distributions1 | 22.65% | 6.24% | 9.02% | ||
Return After Taxes on Distributions and Sale of Fund Shares1 | 14.23% | 5.28% | 7.80% | ||
S&P Global 1200 Consumer Staples (Sector) Capped Index (Index returns do not reflect deductions for fees, expenses, or taxes)2 | 23.19% | 6.76% | 9.54% |
1 | After-tax returns in the table above are calculated using the historical highest individual U.S. federal marginal income tax rates and do not reflect the impact of state or local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown, and after-tax returns shown are not relevant to tax-exempt investors or investors who hold shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts (“IRAs”). Fund returns after taxes on distributions and sales of Fund shares are calculated assuming that an investor has sufficient capital gains of the same character from other investments to offset any capital losses from the sale of Fund shares. As a result, Fund returns after taxes on distributions and sales of Fund shares may exceed Fund returns before taxes and/or returns after taxes on distributions. |
2 | Index performance through June 23, 2019 reflects the performance of the S&P Global 1200 Consumer Staples Sector Index. Index performance beginning on June 24, 2019 reflects the performance of the S&P Global 1200 Consumer Staples (Sector) Capped Index, which, effective as of June 24, 2019, replaced the S&P Global 1200 Consumer Staples Sector Index as the underlying index of the Fund. |
■ | General Impact. This outbreak has resulted in travel restrictions, closed international borders, enhanced health screenings at ports of entry and elsewhere, disruption of and delays in healthcare service preparation and delivery, prolonged quarantines, cancellations, supply chain disruptions, lower consumer demand, temporary closures of stores, restaurants and other commercial establishments, layoffs, defaults and other significant economic impacts, as well as general concern and uncertainty. |
■ | Market Volatility. The outbreak has also resulted in extreme volatility, severe losses, and disruptions in markets which can adversely impact the Fund and its investments, including impairing hedging activity to the extent a Fund engages in such activity, as expected correlations between related markets or instruments may no longer apply. In addition, to the extent the Fund invests in short-term instruments that have negative yields, the Fund’s value may be impaired as a result. Certain issuers of equity securities have cancelled or announced the suspension of dividends. The outbreak has, and may continue to, negatively affect the credit ratings of some fixed income securities and their issuers. |
■ | Market Closures. Certain local markets have been or may be subject to closures, and there can be no assurance that trading will continue in any local markets in which the Fund may invest, when any resumption of trading will occur or, once such markets resume trading, whether they will face further closures. Any suspension of trading in markets in which the Fund invests will have an impact on the Fund and its investments and will impact the Fund’s ability to purchase or sell securities in such markets. |
■ | Operational Risk. The outbreak could also impair the information technology and other operational systems upon which the Fund’s service providers, including BFA, rely, and could otherwise disrupt the ability of employees of the Fund’s service providers to perform critical tasks relating to the Fund, for example, due to the service providers’ employees performing tasks in alternate locations than under normal operating conditions or the illness of certain employees of the Fund’s service providers. |
■ | Governmental Interventions. Governmental and quasi-governmental authorities and regulators throughout the world have responded to the outbreak and the resulting economic disruptions with a variety of fiscal and monetary policy changes, including |
direct capital infusions into companies and other issuers, new monetary policy tools, and lower interest rates. An unexpected or sudden reversal of these policies, or the ineffectiveness of such policies, is likely to increase market volatility, which could adversely affect the Fund’s investments. | |
■ | Pre-Existing Conditions. Public health crises caused by the outbreak may exacerbate other pre-existing political, social and economic risks in certain countries or globally. |
■ | A lack of market liquidity and market efficiency; |
■ | Greater securities price volatility; |
■ | Exchange rate fluctuations and exchange controls; |
■ | Less availability of public information about issuers; |
■ | Limitations on foreign ownership of securities; |
■ | Imposition of withholding or other taxes; |
■ | Imposition of restrictions on the expatriation of the funds or other assets of the Fund; |
■ | Higher transaction and custody costs and delays in settlement procedures; |
■ | Difficulties in enforcing contractual obligations; |
■ | Lower levels of regulation of the securities markets; |
■ | Weaker accounting, disclosure and reporting requirements; and |
■ | Legal principles relating to corporate governance, directors’ fiduciary duties and liabilities and stockholders’ rights in markets in which the Fund invests may differ from and/or may not be as extensive or protective as those that apply in the U.S. |
Approximate
Value of a Creation Unit |
Creation
Unit Size |
Standard
Creation/ Redemption Transaction Fee |
Maximum
Additional
Charge for Creations* |
Maximum
Additional
Charge for Redemptions* |
||||
$2,542,500 | 50,000 | $1,800 | 3.0% | 2.0% |
* | As a percentage of the net asset value per Creation Unit, inclusive, in the case of redemptions, of the standard redemption transaction fee. |
iShares Global Consumer Staples ETF | |||||||||
Year
Ended
03/31/20 |
Year
Ended
03/31/19(a) |
Year
Ended
03/31/18(a) |
Year
Ended
03/31/17(a) |
Year
Ended
03/31/16(a) |
|||||
Net asset value, beginning of year | $ 51.67 | $ 50.14 | $ 49.65 | $ 48.74 | $ 45.87 | ||||
Net investment income(b) | 1.18 | 1.20 | 1.12 | 1.01 | 1.00 | ||||
Net realized and unrealized gain (loss)(c) | (3.69) | 1.70 | 0.52 | 0.98 | 2.90 | ||||
Net increase (decrease) from investment operations | (2.51) | 2.90 | 1.64 | 1.99 | 3.90 | ||||
Distributions (d) | |||||||||
From net investment income | (1.20) | (1.37) | (1.15) | (1.08) | (1.03) | ||||
Total distributions | (1.20) | (1.37) | (1.15) | (1.08) | (1.03) | ||||
Net asset value, end of year | $ 47.96 | $ 51.67 | $ 50.14 | $ 49.65 | $ 48.74 | ||||
Total Return | |||||||||
Based on net asset value | (5.10)% | 6.07% | 3.19% | 4.18% | 8.64% | ||||
Ratios to Average Net Assets | |||||||||
Total expenses | 0.46% | 0.46% | 0.47% | 0.48% | 0.47% | ||||
Net investment income | 2.21% | 2.43% | 2.18% | 2.09% | 2.16% | ||||
Supplemental Data | |||||||||
Net assets, end of year (000) | $683,380 | $738,832 | $536,507 | $605,760 | $638,557 | ||||
Portfolio turnover rate(e) | 7% | 7% | 5% | 4% | 3% | ||||
(a) Per share amounts reflect a two-for-one stock split effective after the close of trading on May 1, 2018. |
|||||||||
(b) Based on average shares outstanding. | |||||||||
(c) The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share transactions in relation to the fluctuating market values of the Fund’s underlying securities. | |||||||||
(d) Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | |||||||||
(e) Portfolio turnover rate excludes in-kind transactions. |
Premium/Discount Range | Number of Days | Percentage of Total Days | ||
Greater than 1.0% and Less than 1.5% | 1 | 0.27% | ||
Greater than 0.5% and Less than 1.0% | 6 | 1.59 | ||
Greater than 0.0% and Less than 0.5% | 158 | 41.91 | ||
At NAV | 9 | 2.39 | ||
Less than 0.0% and Greater than -0.5% | 195 | 51.71 | ||
Less than -0.5% and Greater than -1.0% | 7 | 1.86 | ||
Less than -1.0% and Greater than -1.5% | 1 | 0.27 | ||
377 | 100.00% |
Average Annual Total Returns | Cumulative Total Returns | ||||||
1 Year | 5 Years | 10 Years | 1 Year | 5 Years | 10 Years | ||
Fund NAV | (5.10)% | 3.29% | 7.56% | (5.10)% | 17.57% | 107.28% | |
Fund Market | (5.27) | 3.28 | 7.54 | (5.27) | 17.51 | 106.87 | |
Index (a) | (5.23) | 3.21 | 7.53 | (5.23) | 17.11 | 106.70 | |
S&P Global 1200 Consumer Staples Sector Index™ | (5.31) | 3.19 | 7.52 | (5.31) | 17.01 | 106.45 | |
S&P Global 1200 Consumer Staples (Sector) Capped Index™(b) | N/A | N/A | N/A | N/A | N/A | N/A |
Index performance through January 30, 2013 is calculated using currency exchange (FX) rates corresponding to 5:15 P.M. ET. Index performance beginning on January 31, 2013 is calculated using FX rates corresponding to World Market Reuters 4:00 P.M. London. |
(a) | Index performance through June 23, 2019 reflects the performance of the S&P Global 1200 Consumer Staples Sector Index. Index performance beginning on June 24, 2019 reflects the performance of the S&P Global 1200 Consumer Staples (Sector) Capped Index, which, effective as of June 24, 2019, replaced the S&P Global 1200 Consumer Staples Sector Index as the underlying index of the Fund. |
(b) | The inception date of the S&P Global 1200 Consumer Staples (Sector) Capped Index was May 20, 2019. |
Call: |
1-800-iShares
or 1-800-474-2737 (toll free)
Monday through Friday, 8:30 a.m. to 6:30 p.m. (Eastern time) |
Email: | iSharesETFs@blackrock.com |
Write: |
c/o
BlackRock Investments, LLC
1 University Square Drive, Princeton, NJ 08540 |
July 31, 2020 | |
2020 Prospectus |
• |
iShares Global Energy
ETF | IXC | NYSE ARCA
|
|
S-1 |
|
1 |
|
2 |
|
14 |
|
16 |
|
16 |
|
20 |
|
30 |
|
31 |
|
32 |
|
32 |
|
35 |
Ticker: IXC | Stock Exchange: NYSE Arca |
1 | The amount rounded to 0.00%. |
1 Year | 3 Years | 5 Years | 10 Years | |||
$47 | $148 | $258 | $579 |
1 | The Fund’s year-to-date return as of June 30, 2020 was -35.54%. |
One Year | Five Years | Ten Years | |||
(Inception Date: 11/12/2001) | |||||
Return Before Taxes | 12.33% | 0.18% | 1.72% | ||
Return After Taxes on Distributions1 | 10.12% | -0.81% | 1.03% | ||
Return After Taxes on Distributions and Sale of Fund Shares1 | 8.14% | 0.03% | 1.38% | ||
S&P Global 1200 Energy Index (Index returns do not reflect deductions for fees, expenses, or taxes) | 11.75% | -0.07% | 1.62% |
1 | After-tax returns in the table above are calculated using the historical highest individual U.S. federal marginal income tax rates and do not reflect the impact of state or local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown, and after-tax returns shown are not relevant to tax-exempt investors or investors who hold shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts (“IRAs”). Fund returns after taxes on distributions and sales of Fund shares are calculated assuming that an investor has sufficient capital gains of the same character from other investments to offset any capital losses from the sale of Fund shares. As a result, Fund returns after taxes on distributions and sales of Fund shares may exceed Fund returns before taxes and/or returns after taxes on distributions. |
■ | General Impact. This outbreak has resulted in travel restrictions, closed international borders, enhanced health screenings at ports of entry and elsewhere, disruption of and delays in healthcare service preparation and delivery, prolonged quarantines, cancellations, supply chain disruptions, lower consumer demand, temporary |
closures of stores, restaurants and other commercial establishments, layoffs, defaults and other significant economic impacts, as well as general concern and uncertainty. | |
■ | Market Volatility. The outbreak has also resulted in extreme volatility, severe losses, and disruptions in markets which can adversely impact the Fund and its investments, including impairing hedging activity to the extent a Fund engages in such activity, as expected correlations between related markets or instruments may no longer apply. In addition, to the extent the Fund invests in short-term instruments that have negative yields, the Fund’s value may be impaired as a result. Certain issuers of equity securities have cancelled or announced the suspension of dividends. The outbreak has, and may continue to, negatively affect the credit ratings of some fixed income securities and their issuers. |
■ | Market Closures. Certain local markets have been or may be subject to closures, and there can be no assurance that trading will continue in any local markets in which the Fund may invest, when any resumption of trading will occur or, once such markets resume trading, whether they will face further closures. Any suspension of trading in markets in which the Fund invests will have an impact on the Fund and its investments and will impact the Fund’s ability to purchase or sell securities in such markets. |
■ | Operational Risk. The outbreak could also impair the information technology and other operational systems upon which the Fund’s service providers, including BFA, rely, and could otherwise disrupt the ability of employees of the Fund’s service providers to perform critical tasks relating to the Fund, for example, due to the service providers’ employees performing tasks in alternate locations than under normal operating conditions or the illness of certain employees of the Fund’s service providers. |
■ | Governmental Interventions. Governmental and quasi-governmental authorities and regulators throughout the world have responded to the outbreak and the resulting economic disruptions with a variety of fiscal and monetary policy changes, including direct capital infusions into companies and other issuers, new monetary policy tools, and lower interest rates. An unexpected or sudden reversal of these policies, or the ineffectiveness of such policies, is likely to increase market volatility, which could adversely affect the Fund’s investments. |
■ | Pre-Existing Conditions. Public health crises caused by the outbreak may exacerbate other pre-existing political, social and economic risks in certain countries or globally. |
■ | A lack of market liquidity and market efficiency; |
■ | Greater securities price volatility; |
■ | Exchange rate fluctuations and exchange controls; |
■ | Less availability of public information about issuers; |
■ | Limitations on foreign ownership of securities; |
■ | Imposition of withholding or other taxes; |
■ | Imposition of restrictions on the expatriation of the funds or other assets of the Fund; |
■ | Higher transaction and custody costs and delays in settlement procedures; |
■ | Difficulties in enforcing contractual obligations; |
■ | Lower levels of regulation of the securities markets; |
■ | Weaker accounting, disclosure and reporting requirements; and |
■ | Legal principles relating to corporate governance, directors’ fiduciary duties and |
Approximate
Value of a Creation Unit |
Creation
Unit Size |
Standard
Creation/ Redemption Transaction Fee |
Maximum
Additional
Charge for Creations* |
Maximum
Additional
Charge for Redemptions* |
||||
$2,953,500 | 150,000 | $600 | 7.0% | 2.0% |
* | As a percentage of the net asset value per Creation Unit, inclusive, in the case of redemptions, of the standard redemption transaction fee. |
iShares Global Energy ETF | |||||||||
Year
Ended
03/31/20 |
Year
Ended
03/31/19 |
Year
Ended
03/31/18 |
Year
Ended
03/31/17 |
Year
Ended
03/31/16 |
|||||
Net asset value, beginning of year | $ 33.70 | $ 33.91 | $ 33.19 | $ 29.58 | $ 35.69 | ||||
Net investment income(a) | 1.13 | 1.11 | 1.14 | 0.97 | 1.10 | ||||
Net realized and unrealized gain (loss)(b) | (15.61) | (0.29) | 0.66 | 3.64 | (6.15) | ||||
Net increase (decrease) from investment operations | (14.48) | 0.82 | 1.80 | 4.61 | (5.05) | ||||
Distributions (c) | |||||||||
From net investment income | (2.16) | (1.03) | (1.08) | (1.00) | (1.06) | ||||
Total distributions | (2.16) | (1.03) | (1.08) | (1.00) | (1.06) | ||||
Net asset value, end of year | $ 17.06 | $ 33.70 | $ 33.91 | $ 33.19 | $ 29.58 | ||||
Total Return | |||||||||
Based on net asset value | (45.73)% | 2.56% | 5.56% | 15.54% | (14.27)% | ||||
Ratios to Average Net Assets | |||||||||
Total expenses | 0.46% | 0.46% | 0.47% | 0.48% | 0.47% | ||||
Net investment income | 3.78% | 3.17% | 3.39% | 2.98% | 3.46% | ||||
Supplemental Data | |||||||||
Net assets, end of year (000) | $616,818 | $1,031,245 | $1,154,552 | $950,763 | $1,020,607 | ||||
Portfolio turnover rate(d) | 7% | 6% | 4% | 4% | 6% | ||||
(a) Based on average shares outstanding. |
|||||||||
(b) The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share transactions in relation to the fluctuating market values of the Fund’s underlying securities. | |||||||||
(c) Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | |||||||||
(d) Portfolio turnover rate excludes in-kind transactions. |
Premium/Discount Range | Number of Days | Percentage of Total Days | ||
Greater than 2.0% and Less than 2.5% | 1 | 0.27% | ||
Greater than 1.0% and Less than 1.5% | 1 | 0.27 | ||
Greater than 0.5% and Less than 1.0% | 12 | 3.18 | ||
Greater than 0.0% and Less than 0.5% | 165 | 43.77 | ||
At NAV | 10 | 2.65 | ||
Less than 0.0% and Greater than -0.5% | 177 | 46.94 | ||
Less than -0.5% and Greater than -1.0% | 9 | 2.39 | ||
Less than -1.0% and Greater than -1.5% | 2 | 0.53 | ||
377 | 100.00% |
Average Annual Total Returns | Cumulative Total Returns | ||||||
1 Year | 5 Years | 10 Years | 1 Year | 5 Years | 10 Years | ||
Fund NAV | (45.73)% | (10.26)% | (3.98)% | (45.73)% | (41.81)% | (33.37)% | |
Fund Market | (46.28) | (10.45) | (4.10) | (46.28) | (42.42) | (34.23) | |
Index | (46.04) | (10.50) | (4.09) | (46.04) | (42.57) | (34.11) |
Index performance through January 30, 2013 is calculated using currency exchange (FX) rates corresponding to 5:15 P.M. ET. Index performance beginning on January 31, 2013 is calculated using FX rates corresponding to World Market Reuters 4:00 P.M. London. |
Call: |
1-800-iShares
or 1-800-474-2737 (toll free)
Monday through Friday, 8:30 a.m. to 6:30 p.m. (Eastern time) |
Email: | iSharesETFs@blackrock.com |
Write: |
c/o
BlackRock Investments, LLC
1 University Square Drive, Princeton, NJ 08540 |
July 31, 2020 | |
2020 Prospectus |
• |
iShares Global Financials
ETF | IXG | NYSE ARCA
|
|
S-1 |
|
1 |
|
2 |
|
14 |
|
17 |
|
17 |
|
21 |
|
31 |
|
32 |
|
33 |
|
33 |
|
36 |
Ticker: IXG | Stock Exchange: NYSE Arca |
1 | The amount rounded to 0.00%. |
1 Year | 3 Years | 5 Years | 10 Years | |||
$47 | $148 | $258 | $579 |
1 | The Fund’s year-to-date return as of June 30, 2020 was -23.17%. |
One Year | Five Years | Ten Years | |||
(Inception Date: 11/12/2001) | |||||
Return Before Taxes | 24.35% | 6.72% | 6.93% | ||
Return After Taxes on Distributions1 | 23.71% | 6.19% | 6.48% | ||
Return After Taxes on Distributions and Sale of Fund Shares1 | 15.21% | 5.30% | 5.65% | ||
S&P Global 1200 Financials Index (Index returns do not reflect deductions for fees, expenses, or taxes) | 24.41% | 6.76% | 7.01% |
1 | After-tax returns in the table above are calculated using the historical highest individual U.S. federal marginal income tax rates and do not reflect the impact of state or local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown, and after-tax returns shown are not relevant to tax-exempt investors or investors who hold shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts (“IRAs”). Fund returns after taxes on distributions and sales of Fund shares are calculated assuming that an investor has sufficient capital gains of the same character from other investments to offset any capital losses from the sale of Fund shares. As a result, Fund returns after taxes on distributions and sales of Fund shares may exceed Fund returns before taxes and/or returns after taxes on distributions. |
■ | General Impact. This outbreak has resulted in travel restrictions, closed international borders, enhanced health screenings at ports of entry and elsewhere, disruption of and delays in healthcare service preparation and delivery, prolonged quarantines, cancellations, supply chain disruptions, lower consumer demand, temporary closures of stores, restaurants and other commercial establishments, layoffs, defaults and other significant economic impacts, as well as general concern and uncertainty. |
■ | Market Volatility. The outbreak has also resulted in extreme volatility, severe losses, and disruptions in markets which can adversely impact the Fund and its investments, including impairing hedging activity to the extent a Fund engages in such activity, as expected correlations between related markets or instruments may no longer apply. In addition, to the extent the Fund invests in short-term instruments that have negative yields, the Fund’s value may be impaired as a result. Certain issuers of equity securities have cancelled or announced the suspension of dividends. The outbreak has, and may continue to, negatively affect the credit ratings of some fixed income securities and their issuers. |
■ | Market Closures. Certain local markets have been or may be subject to closures, |
■ | Operational Risk. The outbreak could also impair the information technology and other operational systems upon which the Fund’s service providers, including BFA, rely, and could otherwise disrupt the ability of employees of the Fund’s service providers to perform critical tasks relating to the Fund, for example, due to the service providers’ employees performing tasks in alternate locations than under normal operating conditions or the illness of certain employees of the Fund’s service providers. |
■ | Governmental Interventions. Governmental and quasi-governmental authorities and regulators throughout the world have responded to the outbreak and the resulting economic disruptions with a variety of fiscal and monetary policy changes, including direct capital infusions into companies and other issuers, new monetary policy tools, and lower interest rates. An unexpected or sudden reversal of these policies, or the ineffectiveness of such policies, is likely to increase market volatility, which could adversely affect the Fund’s investments. |
■ | Pre-Existing Conditions. Public health crises caused by the outbreak may exacerbate other pre-existing political, social and economic risks in certain countries or globally. |
■ | A lack of market liquidity and market efficiency; |
■ | Greater securities price volatility; |
■ | Exchange rate fluctuations and exchange controls; |
■ | Less availability of public information about issuers; |
■ | Limitations on foreign ownership of securities; |
■ | Imposition of withholding or other taxes; |
■ | Imposition of restrictions on the expatriation of the funds or other assets of the Fund; |
■ | Higher transaction and custody costs and delays in settlement procedures; |
■ | Difficulties in enforcing contractual obligations; |
■ | Lower levels of regulation of the securities markets; |
■ | Weaker accounting, disclosure and reporting requirements; and |
■ | Legal principles relating to corporate governance, directors’ fiduciary duties and liabilities and stockholders’ rights in markets in which the Fund invests may differ from and/or may not be as extensive or protective as those that apply in the U.S. |
Approximate
Value of a Creation Unit |
Creation
Unit Size |
Standard
Creation/ Redemption Transaction Fee |
Maximum
Additional
Charge for Creations* |
Maximum
Additional
Charge for Redemptions* |
||||
$2,517,500 | 50,000 | $4,000 | 7.0% | 2.0% |
* | As a percentage of the net asset value per Creation Unit, inclusive, in the case of redemptions, of the standard redemption transaction fee. |
iShares Global Financials ETF | |||||||||
Year
Ended
03/31/20 |
Year
Ended
03/31/19 |
Year
Ended
03/31/18 |
Year
Ended
03/31/17 |
Year
Ended
03/31/16 |
|||||
Net asset value, beginning of year | $ 61.61 | $ 68.93 | $ 60.82 | $ 49.45 | $ 56.94 | ||||
Net investment income(a) | 1.71 | 1.84 | 1.47 | 1.35 | 1.31 | ||||
Net realized and unrealized gain (loss)(b) | (14.12) | (7.38) | 8.12 | 11.30 | (7.32) | ||||
Net increase (decrease) from investment operations | (12.41) | (5.54) | 9.59 | 12.65 | (6.01) | ||||
Distributions (c) | |||||||||
From net investment income | (1.97) | (1.78) | (1.48) | (1.28) | (1.48) | ||||
Total distributions | (1.97) | (1.78) | (1.48) | (1.28) | (1.48) | ||||
Net asset value, end of year | $ 47.23 | $ 61.61 | $ 68.93 | $ 60.82 | $ 49.45 | ||||
Total Return | |||||||||
Based on net asset value | (20.99)% (d) | (8.02)% | 15.91% | 26.03% | (10.84)% | ||||
Ratios to Average Net Assets | |||||||||
Total expenses | 0.46% | 0.46% | 0.47% | 0.48% | 0.47% | ||||
Total expenses excluding professional fees for foreign withholding tax claims | N/A | 0.46% | N/A | N/A | N/A | ||||
Net investment income | 2.66% | 2.84% | 2.19% | 2.46% | 2.41% | ||||
Supplemental Data | |||||||||
Net assets, end of year (000) | $203,073 | $341,918 | $634,120 | $386,189 | $227,455 | ||||
Portfolio turnover rate(e) | 7% | 7% | 4% | 16% | 9% | ||||
(a) Based on average shares outstanding. |
|||||||||
(b) The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share transactions in relation to the fluctuating market values of the Fund’s underlying securities. | |||||||||
(c) Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | |||||||||
(d) Includes payment received from an affiliate, which had no impact on the Fund’s total return. | |||||||||
(e) Portfolio turnover rate excludes in-kind transactions. |
Premium/Discount Range | Number of Days | Percentage of Total Days | ||
Greater than 1.0% and Less than 1.5% | 1 | 0.27% | ||
Greater than 0.5% and Less than 1.0% | 6 | 1.59 | ||
Greater than 0.0% and Less than 0.5% | 153 | 40.59 | ||
At NAV | 6 | 1.59 | ||
Less than 0.0% and Greater than -0.5% | 189 | 50.12 | ||
Less than -0.5% and Greater than -1.0% | 17 | 4.51 | ||
Less than -1.0% and Greater than -1.5% | 5 | 1.33 | ||
377 | 100.00% |
Average Annual Total Returns | Cumulative Total Returns | ||||||
1 Year | 5 Years | 10 Years | 1 Year | 5 Years | 10 Years | ||
Fund NAV | (20.85)% (a) | (1.06)% | 2.64% | (20.85)% (a) | (5.18)% | 29.76% | |
Fund Market | (20.72) | (1.03) | 2.66 | (20.72) | (5.07) | 30.03 | |
Index | (20.76) | (1.01) | 2.70 | (20.76) | (4.94) | 30.59 |
Index performance through January 30, 2013 is calculated using currency exchange (FX) rates corresponding to 5:15 P.M. ET. Index performance beginning on January 31, 2013 is calculated using FX rates corresponding to World Market Reuters 4:00 P.M. London. |
(a) | The NAV total return presented in the table for the one-year period differs from the same period return disclosed in the financial highlights. The total return in the financial highlights is calculated in the same manner but differs due to certain adjustments made for financial reporting purposes in accordance with U.S. generally accepted accounting principles. |
Call: |
1-800-iShares
or 1-800-474-2737 (toll free)
Monday through Friday, 8:30 a.m. to 6:30 p.m. (Eastern time) |
Email: | iSharesETFs@blackrock.com |
Write: |
c/o
BlackRock Investments, LLC
1 University Square Drive, Princeton, NJ 08540 |
July 31, 2020 | |
2020 Prospectus |
• |
iShares Global Healthcare
ETF | IXJ | NYSE ARCA
|
|
S-1 |
|
1 |
|
2 |
|
14 |
|
16 |
|
16 |
|
20 |
|
30 |
|
31 |
|
32 |
|
32 |
|
35 |
Ticker: IXJ | Stock Exchange: NYSE Arca |
1 | The amount rounded to 0.00%. |
1 Year | 3 Years | 5 Years | 10 Years | |||
$47 | $148 | $258 | $579 |
1 | The Fund’s year-to-date return as of June 30, 2020 was 0.53%. |
One Year | Five Years | Ten Years | |||
(Inception Date: 11/13/2001) | |||||
Return Before Taxes | 23.36% | 8.70% | 12.45% | ||
Return After Taxes on Distributions1 | 22.92% | 8.20% | 12.00% | ||
Return After Taxes on Distributions and Sale of Fund Shares1 | 14.10% | 6.77% | 10.32% | ||
S&P Global 1200 Health Care IndexTM (Index returns do not reflect deductions for fees, expenses, or taxes) | 23.32% | 8.77% | 12.51% |
1 | After-tax returns in the table above are calculated using the historical highest individual U.S. federal marginal income tax rates and do not reflect the impact of state or local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown, and after-tax returns shown are not relevant to tax-exempt investors or investors who hold shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts (“IRAs”). Fund returns after taxes on distributions and sales of Fund shares are calculated assuming that an investor has sufficient capital gains of the same character from other investments to offset any capital losses from the sale of Fund shares. As a result, Fund returns after taxes on distributions and sales of Fund shares may exceed Fund returns before taxes and/or returns after taxes on distributions. |
■ | General Impact. This outbreak has resulted in travel restrictions, closed international borders, enhanced health screenings at ports of entry and elsewhere, disruption of and delays in healthcare service preparation and delivery, prolonged quarantines, cancellations, supply chain disruptions, lower consumer demand, temporary closures of stores, restaurants and other commercial establishments, layoffs, defaults and other significant economic impacts, as well as general concern and uncertainty. |
■ | Market Volatility. The outbreak has also resulted in extreme volatility, severe losses, and disruptions in markets which can adversely impact the Fund and its investments, including impairing hedging activity to the extent a Fund engages in such activity, as expected correlations between related markets or instruments may no longer apply. In addition, to the extent the Fund invests in short-term instruments that have negative yields, the Fund’s value may be impaired as a result. Certain issuers of equity securities have cancelled or announced the suspension of dividends. The outbreak has, and may continue to, negatively affect the credit ratings of some fixed income securities and their issuers. |
■ | Market Closures. Certain local markets have been or may be subject to closures, and there can be no assurance that trading will continue in any local markets in which the Fund may invest, when any resumption of trading will occur or, once such markets resume trading, whether they will face further closures. Any suspension of trading in markets in which the Fund invests will have an impact on the Fund and its investments and will impact the Fund’s ability to purchase or sell securities in such markets. |
■ | Operational Risk. The outbreak could also impair the information technology and other operational systems upon which the Fund’s service providers, including BFA, rely, and could otherwise disrupt the ability of employees of the Fund’s service providers to perform critical tasks relating to the Fund, for example, due to the |
service providers’ employees performing tasks in alternate locations than under normal operating conditions or the illness of certain employees of the Fund’s service providers. | |
■ | Governmental Interventions. Governmental and quasi-governmental authorities and regulators throughout the world have responded to the outbreak and the resulting economic disruptions with a variety of fiscal and monetary policy changes, including direct capital infusions into companies and other issuers, new monetary policy tools, and lower interest rates. An unexpected or sudden reversal of these policies, or the ineffectiveness of such policies, is likely to increase market volatility, which could adversely affect the Fund’s investments. |
■ | Pre-Existing Conditions. Public health crises caused by the outbreak may exacerbate other pre-existing political, social and economic risks in certain countries or globally. |
■ | A lack of market liquidity and market efficiency; |
■ | Greater securities price volatility; |
■ | Exchange rate fluctuations and exchange controls; |
■ | Less availability of public information about issuers; |
■ | Limitations on foreign ownership of securities; |
■ | Imposition of withholding or other taxes; |
■ | Imposition of restrictions on the expatriation of the funds or other assets of the Fund; |
■ | Higher transaction and custody costs and delays in settlement procedures; |
■ | Difficulties in enforcing contractual obligations; |
■ | Lower levels of regulation of the securities markets; |
■ | Weaker accounting, disclosure and reporting requirements; and |
■ | Legal principles relating to corporate governance, directors’ fiduciary duties and liabilities and stockholders’ rights in markets in which the Fund invests may differ from and/or may not be as extensive or protective as those that apply in the U.S. |
Approximate
Value of a Creation Unit |
Creation
Unit Size |
Standard
Creation/ Redemption Transaction Fee |
Maximum
Additional
Charge for Creations* |
Maximum
Additional
Charge for Redemptions* |
||||
$3,390,000 | 50,000 | $700 | 3.0% | 2.0% |
* | As a percentage of the net asset value per Creation Unit, inclusive, in the case of redemptions, of the standard redemption transaction fee. |
iShares Global Healthcare ETF | |||||||||
Year
Ended
03/31/20 |
Year
Ended
03/31/19(a) |
Year
Ended
03/31/18(a) |
Year
Ended
03/31/17(a) |
Year
Ended
03/31/16(a) |
|||||
Net asset value, beginning of year | $ 61.13 | $ 55.61 | $ 51.44 | $ 48.21 | $ 53.86 | ||||
Net investment income(b) | 0.96 | 0.92 | 0.79 | 0.76 | 0.77 | ||||
Net realized and unrealized gain (loss)(c) | (0.16) | 5.80 | 4.20 | 3.29 | (4.95) | ||||
Net increase (decrease) from investment operations | 0.80 | 6.72 | 4.99 | 4.05 | (4.18) | ||||
Distributions (d) | |||||||||
From net investment income | (0.98) | (1.20) | (0.82) | (0.82) | (1.15) | ||||
In excess of net investment income | — | — | — | — | (0.32) | ||||
Total distributions | (0.98) | (1.20) | (0.82) | (0.82) | (1.47) | ||||
Net asset value, end of year | $ 60.95 | $ 61.13 | $ 55.61 | $ 51.44 | $ 48.21 | ||||
Total Return | |||||||||
Based on net asset value | 1.23% | 12.29% | 9.70% | 8.52% | (7.97)% | ||||
Ratios to Average Net Assets | |||||||||
Total expenses | 0.46% | 0.46% | 0.47% | 0.48% | 0.47% | ||||
Net investment income | 1.52% | 1.55% | 1.42% | 1.51% | 1.48% | ||||
Supplemental Data | |||||||||
Net assets, end of year (000) | $1,947,392 | $2,121,287 | $1,568,110 | $1,476,384 | $1,610,047 | ||||
Portfolio turnover rate(e) | 5% | 8% | 4% | 5% | 5% | ||||
(a) Per share amounts reflect a two-for-one stock split effective after the close of trading on May 1, 2018. |
|||||||||
(b) Based on average shares outstanding. | |||||||||
(c) The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share transactions in relation to the fluctuating market values of the Fund’s underlying securities. | |||||||||
(d) Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | |||||||||
(e) Portfolio turnover rate excludes in-kind transactions. |
Premium/Discount Range | Number of Days | Percentage of Total Days | ||
Greater than 1.5% and Less than 2.0% | 1 | 0.27% | ||
Greater than 0.5% and Less than 1.0% | 1 | 0.27 | ||
Greater than 0.0% and Less than 0.5% | 164 | 43.50 | ||
At NAV | 16 | 4.24 | ||
Less than 0.0% and Greater than -0.5% | 187 | 49.60 | ||
Less than -0.5% and Greater than -1.0% | 8 | 2.12 | ||
377 | 100.00% |
Average Annual Total Returns | Cumulative Total Returns | ||||||
1 Year | 5 Years | 10 Years | 1 Year | 5 Years | 10 Years | ||
Fund NAV | 1.23% | 4.49% | 10.94% | 1.23% | 24.54% | 182.47% | |
Fund Market | 1.38 | 4.49 | 10.95 | 1.38 | 24.55 | 182.72 | |
Index | 1.21 | 4.55 | 11.00 | 1.21 | 24.94 | 183.94 |
Index performance through January 30, 2013 is calculated using currency exchange (FX) rates corresponding to 5:15 P.M. ET. Index performance beginning on January 31, 2013 is calculated using FX rates corresponding to World Market Reuters 4:00 P.M. London. |
Call: |
1-800-iShares
or 1-800-474-2737 (toll free)
Monday through Friday, 8:30 a.m. to 6:30 p.m. (Eastern time) |
Email: | iSharesETFs@blackrock.com |
Write: |
c/o
BlackRock Investments, LLC
1 University Square Drive, Princeton, NJ 08540 |
July 31, 2020 | |
2020 Prospectus |
• |
iShares Global
Industrials ETF | EXI | NYSE ARCA
|
|
S-1 |
|
1 |
|
2 |
|
14 |
|
16 |
|
16 |
|
19 |
|
29 |
|
29 |
|
31 |
|
31 |
|
34 |
Ticker: EXI | Stock Exchange: NYSE Arca |
1 | The amount rounded to 0.00%. |
1 Year | 3 Years | 5 Years | 10 Years | |||
$47 | $148 | $258 | $579 |
1 | The Fund’s year-to-date return as of June 30, 2020 was -14.00%. |
One Year | Five Years | Ten Years | |||
(Inception Date: 9/12/2006) | |||||
Return Before Taxes | 27.54% | 8.57% | 10.28% | ||
Return After Taxes on Distributions1 | 26.99% | 8.11% | 9.88% | ||
Return After Taxes on Distributions and Sale of Fund Shares1 | 16.65% | 6.69% | 8.46% | ||
S&P Global 1200 Industrials Index (Index returns do not reflect deductions for fees, expenses, or taxes) | 27.76% | 8.57% | 10.26% |
1 | After-tax returns in the table above are calculated using the historical highest individual U.S. federal marginal income tax rates and do not reflect the impact of state or local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown, and after-tax returns shown are not relevant to tax-exempt investors or investors who hold shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts (“IRAs”). Fund returns after taxes on distributions and sales of Fund shares are calculated assuming that an investor has sufficient capital gains of the same character from other investments to offset any capital losses from the sale of Fund shares. As a result, Fund returns after taxes on distributions and sales of Fund shares may exceed Fund returns before taxes and/or returns after taxes on distributions. |
■ | General Impact. This outbreak has resulted in travel restrictions, closed international borders, enhanced health screenings at ports of entry and elsewhere, disruption of and delays in healthcare service preparation and delivery, prolonged quarantines, cancellations, supply chain disruptions, lower consumer demand, temporary closures of stores, restaurants and other commercial establishments, layoffs, defaults and other significant economic impacts, as well as general concern and uncertainty. |
■ | Market Volatility. The outbreak has also resulted in extreme volatility, severe losses, and disruptions in markets which can adversely impact the Fund and its investments, including impairing hedging activity to the extent a Fund engages in such activity, as expected correlations between related markets or instruments may no longer apply. In addition, to the extent the Fund invests in short-term instruments that have negative yields, the Fund’s value may be impaired as a result. Certain issuers of equity securities have cancelled or announced the suspension of dividends. The outbreak has, and may continue to, negatively affect the credit ratings of some fixed income securities and their issuers. |
■ | Market Closures. Certain local markets have been or may be subject to closures, and there can be no assurance that trading will continue in any local markets in which the Fund may invest, when any resumption of trading will occur or, once such markets resume trading, whether they will face further closures. Any suspension of |
trading in markets in which the Fund invests will have an impact on the Fund and its investments and will impact the Fund’s ability to purchase or sell securities in such markets. | |
■ | Operational Risk. The outbreak could also impair the information technology and other operational systems upon which the Fund’s service providers, including BFA, rely, and could otherwise disrupt the ability of employees of the Fund’s service providers to perform critical tasks relating to the Fund, for example, due to the service providers’ employees performing tasks in alternate locations than under normal operating conditions or the illness of certain employees of the Fund’s service providers. |
■ | Governmental Interventions. Governmental and quasi-governmental authorities and regulators throughout the world have responded to the outbreak and the resulting economic disruptions with a variety of fiscal and monetary policy changes, including direct capital infusions into companies and other issuers, new monetary policy tools, and lower interest rates. An unexpected or sudden reversal of these policies, or the ineffectiveness of such policies, is likely to increase market volatility, which could adversely affect the Fund’s investments. |
■ | Pre-Existing Conditions. Public health crises caused by the outbreak may exacerbate other pre-existing political, social and economic risks in certain countries or globally. |
■ | A lack of market liquidity and market efficiency; |
■ | Greater securities price volatility; |
■ | Exchange rate fluctuations and exchange controls; |
■ | Less availability of public information about issuers; |
■ | Limitations on foreign ownership of securities; |
■ | Imposition of withholding or other taxes; |
■ | Imposition of restrictions on the expatriation of the funds or other assets of the Fund; |
■ | Higher transaction and custody costs and delays in settlement procedures; |
■ | Difficulties in enforcing contractual obligations; |
■ | Lower levels of regulation of the securities markets; |
■ | Weaker accounting, disclosure and reporting requirements; and |
■ | Legal principles relating to corporate governance, directors’ fiduciary duties and liabilities and stockholders’ rights in markets in which the Fund invests may differ from and/or may not be as extensive or protective as those that apply in the U.S. |
Approximate
Value of a Creation Unit |
Creation
Unit Size |
Standard
Creation/ Redemption Transaction Fee |
Maximum
Additional
Charge for Creations* |
Maximum
Additional
Charge for Redemptions* |
||||
$3,845,000 | 50,000 | $2,200 | 7.0% | 2.0% |
* | As a percentage of the net asset value per Creation Unit, inclusive, in the case of redemptions, of the standard redemption transaction fee. |
iShares Global Industrials ETF | |||||||||
Year
Ended
03/31/20 |
Year
Ended
03/31/19 |
Year
Ended
03/31/18 |
Year
Ended
03/31/17 |
Year
Ended
03/31/16 |
|||||
Net asset value, beginning of year | $ 88.88 | $ 91.22 | $ 80.47 | $ 70.40 | $ 72.00 | ||||
Net investment income(a) | 1.61 | 1.65 | 1.43 | 1.37 (b) | 1.27 | ||||
Net realized and unrealized gain (loss)(c) | (17.32) | (2.27) | 10.69 | 10.02 | (1.55) | ||||
Net increase (decrease) from investment operations | (15.71) | (0.62) | 12.12 | 11.39 | (0.28) | ||||
Distributions (d) | |||||||||
From net investment income | (1.67) | (1.72) | (1.37) | (1.32) | (1.32) | ||||
Total distributions | (1.67) | (1.72) | (1.37) | (1.32) | (1.32) | ||||
Net asset value, end of year | $ 71.50 | $ 88.88 | $ 91.22 | $ 80.47 | $ 70.40 | ||||
Total Return | |||||||||
Based on net asset value | (18.08)% | (0.59)% | 15.14% | 16.38% (b) | (0.37)% | ||||
Ratios to Average Net Assets | |||||||||
Total expenses | 0.46% | 0.46% | 0.47% | 0.48% | 0.47% | ||||
Total expenses excluding professional fees for foreign withholding tax claims | N/A | N/A | N/A | 0.48% | N/A | ||||
Net investment income | 1.75% | 1.87% | 1.61% | 1.85% (b) | 1.82% | ||||
Supplemental Data | |||||||||
Net assets, end of year (000) | $146,580 | $217,744 | $360,338 | $209,222 | $190,089 | ||||
Portfolio turnover rate(e) | 5% | 5% | 6% | 9% | 7% | ||||
(a) Based on average shares outstanding. |
|||||||||
(b) Reflects the one-time, positive effect of foreign withholding tax claims, net of the associated professional fees, which resulted in the following
increases for the year ended March 31, 2017:
• Net investment income per share by $0.01. • Total return by 0.02%. • Ratio of net investment income to average net assets by 0.02%. |
|||||||||
(c) The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share transactions in relation to the fluctuating market values of the Fund’s underlying securities. | |||||||||
(d) Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | |||||||||
(e) Portfolio turnover rate excludes in-kind transactions. |
Premium/Discount Range | Number of Days | Percentage of Total Days | ||
Greater than 1.5% and Less than 2.0% | 1 | 0.27% | ||
Greater than 0.5% and Less than 1.0% | 9 | 2.39 | ||
Greater than 0.0% and Less than 0.5% | 159 | 42.18 | ||
At NAV | 6 | 1.59 | ||
Less than 0.0% and Greater than -0.5% | 183 | 48.53 | ||
Less than -0.5% and Greater than -1.0% | 14 | 3.71 | ||
Less than -1.0% and Greater than -1.5% | 5 | 1.33 | ||
377 | 100.00% |
Average Annual Total Returns | Cumulative Total Returns | ||||||
1 Year | 5 Years | 10 Years | 1 Year | 5 Years | 10 Years | ||
Fund NAV | (18.08)% | 1.69% | 5.96% | (18.08)% | 8.72% | 78.46% | |
Fund Market | (18.14) | 1.65 | 5.95 | (18.14) | 8.55 | 78.18 | |
Index | (17.98) | 1.67 | 5.93 | (17.98) | 8.66 | 77.92 |
Index performance through January 30, 2013 is calculated using currency exchange (FX) rates corresponding to 5:15 P.M. ET. Index performance beginning on January 31, 2013 is calculated using FX rates corresponding to World Market Reuters 4:00 P.M. London. |
Call: |
1-800-iShares
or 1-800-474-2737 (toll free)
Monday through Friday, 8:30 a.m. to 6:30 p.m. (Eastern time) |
Email: | iSharesETFs@blackrock.com |
Write: |
c/o
BlackRock Investments, LLC
1 University Square Drive, Princeton, NJ 08540 |
July 31, 2020 | |
2020 Prospectus |
• |
iShares Global
Infrastructure ETF | IGF | NASDAQ
|
|
S-1 |
|
1 |
|
2 |
|
16 |
|
20 |
|
20 |
|
24 |
|
32 |
|
34 |
|
35 |
|
35 |
|
38 |
Ticker: IGF | Stock Exchange: NASDAQ |
1 | The amount rounded to 0.00%. |
1 Year | 3 Years | 5 Years | 10 Years | |||
$47 | $148 | $258 | $579 |
1 | The Fund’s year-to-date return as of June 30, 2020 was -19.56%. |
One Year | Five Years | Ten Years | |||
(Inception Date: 12/10/2007) | |||||
Return Before Taxes | 26.01% | 5.79% | 6.94% | ||
Return After Taxes on Distributions1 | 25.20% | 5.15% | 6.36% | ||
Return After Taxes on Distributions and Sale of Fund Shares1 | 16.24% | 4.55% | 5.69% | ||
S&P Global Infrastructure Index (Index returns do not reflect deductions for fees, expenses, or taxes) | 25.75% | 5.61% | 6.77% |
1 | After-tax returns in the table above are calculated using the historical highest individual U.S. federal marginal income tax rates and do not reflect the impact of state or local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown, and after-tax returns shown are not relevant to tax-exempt investors or investors who hold shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts (“IRAs”). Fund returns after taxes on distributions and sales of Fund shares are calculated assuming that an investor has sufficient capital gains of the same character from other investments to offset any capital losses from the sale of Fund shares. As a result, Fund returns after taxes on distributions and sales of Fund shares may exceed Fund returns before taxes and/or returns after taxes on distributions. |
■ | General Impact. This outbreak has resulted in travel restrictions, closed international |
■ | Market Volatility. The outbreak has also resulted in extreme volatility, severe losses, and disruptions in markets which can adversely impact the Fund and its investments, including impairing hedging activity to the extent a Fund engages in such activity, as expected correlations between related markets or instruments may no longer apply. In addition, to the extent the Fund invests in short-term instruments that have negative yields, the Fund’s value may be impaired as a result. Certain issuers of equity securities have cancelled or announced the suspension of dividends. The outbreak has, and may continue to, negatively affect the credit ratings of some fixed income securities and their issuers. |
■ | Market Closures. Certain local markets have been or may be subject to closures, and there can be no assurance that trading will continue in any local markets in which the Fund may invest, when any resumption of trading will occur or, once such markets resume trading, whether they will face further closures. Any suspension of trading in markets in which the Fund invests will have an impact on the Fund and its investments and will impact the Fund’s ability to purchase or sell securities in such markets. |
■ | Operational Risk. The outbreak could also impair the information technology and other operational systems upon which the Fund’s service providers, including BFA, rely, and could otherwise disrupt the ability of employees of the Fund’s service providers to perform critical tasks relating to the Fund, for example, due to the service providers’ employees performing tasks in alternate locations than under normal operating conditions or the illness of certain employees of the Fund’s service providers. |
■ | Governmental Interventions. Governmental and quasi-governmental authorities and regulators throughout the world have responded to the outbreak and the resulting economic disruptions with a variety of fiscal and monetary policy changes, including direct capital infusions into companies and other issuers, new monetary policy tools, and lower interest rates. An unexpected or sudden reversal of these policies, or the ineffectiveness of such policies, is likely to increase market volatility, which could adversely affect the Fund’s investments. |
■ | Pre-Existing Conditions. Public health crises caused by the outbreak may exacerbate other pre-existing political, social and economic risks in certain countries or globally. |
■ | A lack of market liquidity and market efficiency; |
■ | Greater securities price volatility; |
■ | Exchange rate fluctuations and exchange controls; |
■ | Less availability of public information about issuers; |
■ | Limitations on foreign ownership of securities; |
■ | Imposition of withholding or other taxes; |
■ | Imposition of restrictions on the expatriation of the funds or other assets of the Fund; |
■ | Higher transaction and custody costs and delays in settlement procedures; |
■ | Difficulties in enforcing contractual obligations; |
■ | Lower levels of regulation of the securities markets; |
■ | Weaker accounting, disclosure and reporting requirements; and |
■ | Legal principles relating to corporate governance, directors’ fiduciary duties and liabilities and stockholders’ rights in markets in which the Fund invests may differ from and/or may not be as extensive or protective as those that apply in the U.S. |
Approximate
Value of a Creation Unit |
Creation
Unit Size |
Standard
Creation/ Redemption Transaction Fee |
Maximum
Additional
Charge for Creations* |
Maximum
Additional
Charge for Redemptions* |
||||
$3,702,000 | 100,000 | $1,600 | 7.0% | 2.0% |
* | As a percentage of the net asset value per Creation Unit, inclusive, in the case of redemptions, of the standard redemption transaction fee. |
iShares Global Infrastructure ETF | |||||||||
Year
Ended
03/31/20 |
Year
Ended
03/31/19 |
Year
Ended
03/31/18 |
Year
Ended
03/31/17 |
Year
Ended
03/31/16 |
|||||
Net asset value, beginning of year | $ 44.78 | $ 42.73 | $ 42.18 | $ 39.18 | $ 41.89 | ||||
Net investment income(a) | 1.54 | 1.34 | 1.44 | 1.29 | 1.26 | ||||
Net realized and unrealized gain (loss)(b) | (10.86) | 2.10 | 0.45 | 2.88 | (2.80) | ||||
Net increase (decrease) from investment operations | (9.32) | 3.44 | 1.89 | 4.17 | (1.54) | ||||
Distributions (c) | |||||||||
From net investment income | (1.57) | (1.39) | (1.34) | (1.17) | (1.17) | ||||
Total distributions | (1.57) | (1.39) | (1.34) | (1.17) | (1.17) | ||||
Net asset value, end of year | $ 33.89 | $ 44.78 | $ 42.73 | $ 42.18 | $ 39.18 | ||||
Total Return | |||||||||
Based on net asset value | (21.75)% | 8.40% | 4.37% | 10.85% | (3.55)% | ||||
Ratios to Average Net Assets | |||||||||
Total expenses | 0.46% | 0.46% | 0.47% | 0.48% | 0.47% | ||||
Net investment income | 3.38% | 3.15% | 3.24% | 3.22% | 3.21% | ||||
Supplemental Data | |||||||||
Net assets, end of year (000) | $2,741,647 | $2,825,830 | $2,503,687 | $1,560,481 | $932,422 | ||||
Portfolio turnover rate(d) | 9% | 19% | 11% | 23% | 17% | ||||
(a) Based on average shares outstanding. |
|||||||||
(b) The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share transactions in relation to the fluctuating market values of the Fund’s underlying securities. | |||||||||
(c) Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | |||||||||
(d) Portfolio turnover rate excludes in-kind transactions. |
Premium/Discount Range | Number of Days | Percentage of Total Days | ||
Greater than 1.5% and Less than 2.0% | 1 | 0.27% | ||
Greater than 1.0% and Less than 1.5% | 1 | 0.27 | ||
Greater than 0.5% and Less than 1.0% | 10 | 2.65 | ||
Greater than 0.0% and Less than 0.5% | 235 | 62.32 | ||
At NAV | 3 | 0.80 | ||
Less than 0.0% and Greater than -0.5% | 113 | 29.97 | ||
Less than -0.5% and Greater than -1.0% | 11 | 2.92 | ||
Less than -1.0% and Greater than -1.5% | 3 | 0.80 | ||
377 | 100.00% |
Average Annual Total Returns | Cumulative Total Returns | ||||||
1 Year | 5 Years | 10 Years | 1 Year | 5 Years | 10 Years | ||
Fund NAV | (21.75)% | (1.09)% | 3.45% | (21.75)% | (5.35)% | 40.37% | |
Fund Market | (21.35) | (0.95) | 3.48 | (21.35) | (4.65) | 40.85 | |
Index | (21.91) | (1.29) | 3.28 | (21.91) | (6.28) | 38.07 |
Call: |
1-800-iShares
or 1-800-474-2737 (toll free)
Monday through Friday, 8:30 a.m. to 6:30 p.m. (Eastern time) |
Email: | iSharesETFs@blackrock.com |
Write: |
c/o
BlackRock Investments, LLC
1 University Square Drive, Princeton, NJ 08540 |
July 31, 2020 | |
2020 Prospectus |
• |
iShares Global Materials
ETF | MXI | NYSE ARCA
|
|
S-1 |
|
1 |
|
2 |
|
13 |
|
17 |
|
17 |
|
21 |
|
31 |
|
32 |
|
34 |
|
34 |
|
37 |
Ticker: MXI | Stock Exchange: NYSE Arca |
1 | The amount rounded to 0.00%. |
1 Year | 3 Years | 5 Years | 10 Years | |||
$46 | $144 | $252 | $567 |
1 | The Fund’s year-to-date return as of June 30, 2020 was -7.12%. |
One Year | Five Years | Ten Years | |||
(Inception Date: 9/12/2006) | |||||
Return Before Taxes | 22.06% | 6.46% | 3.22% | ||
Return After Taxes on Distributions2 | 21.23% | 5.97% | 2.84% | ||
Return After Taxes on Distributions and Sale of Fund Shares2 | 14.01% | 5.12% | 2.62% | ||
S&P Global 1200 Materials IndexTM (Index returns do not reflect deductions for fees, expenses, or taxes) | 22.23% | 6.57% | 3.43% |
2 | After-tax returns in the table above are calculated using the historical highest individual U.S. federal marginal income tax rates and do not reflect the impact of state or local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown, and after-tax returns shown are not relevant to tax-exempt investors or investors who hold shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts (“IRAs”). Fund returns after taxes on distributions and sales of Fund shares are calculated assuming that an investor has sufficient capital gains of the same character from other investments to offset any capital losses from the sale of Fund shares. As a result, Fund returns after taxes on distributions and sales of Fund shares may exceed Fund returns before taxes and/or returns after taxes on distributions. |
■ | General Impact. This outbreak has resulted in travel restrictions, closed international borders, enhanced health screenings at ports of entry and elsewhere, disruption of and delays in healthcare service preparation and delivery, prolonged quarantines, cancellations, supply chain disruptions, lower consumer demand, temporary closures of stores, restaurants and other commercial establishments, layoffs, defaults and other significant economic impacts, as well as general concern and uncertainty. |
■ | Market Volatility. The outbreak has also resulted in extreme volatility, severe losses, and disruptions in markets which can adversely impact the Fund and its investments, including impairing hedging activity to the extent a Fund engages in such activity, as expected correlations between related markets or instruments may no longer apply. In addition, to the extent the Fund invests in short-term instruments that have negative yields, the Fund’s value may be impaired as a result. Certain issuers of equity securities have cancelled or announced the suspension of dividends. The outbreak has, and may continue to, negatively affect the credit ratings of some fixed income securities and their issuers. |
■ | Market Closures. Certain local markets have been or may be subject to closures, and there can be no assurance that trading will continue in any local markets in which the Fund may invest, when any resumption of trading will occur or, once such markets resume trading, whether they will face further closures. Any suspension of trading in markets in which the Fund invests will have an impact on the Fund and its investments and will impact the Fund’s ability to purchase or sell securities in such markets. |
■ | Operational Risk. The outbreak could also impair the information technology and other operational systems upon which the Fund’s service providers, including BFA, rely, and could otherwise disrupt the ability of employees of the Fund’s service providers to perform critical tasks relating to the Fund, for example, due to the service providers’ employees performing tasks in alternate locations than under normal operating conditions or the illness of certain employees of the Fund’s service providers. |
■ | Governmental Interventions. Governmental and quasi-governmental authorities and regulators throughout the world have responded to the outbreak and the resulting economic disruptions with a variety of fiscal and monetary policy changes, including direct capital infusions into companies and other issuers, new monetary policy tools, and lower interest rates. An unexpected or sudden reversal of these policies, or the ineffectiveness of such policies, is likely to increase market volatility, which could adversely affect the Fund’s investments. |
■ | Pre-Existing Conditions. Public health crises caused by the outbreak may exacerbate other pre-existing political, social and economic risks in certain countries or globally. |
■ | A lack of market liquidity and market efficiency; |
■ | Greater securities price volatility; |
■ | Exchange rate fluctuations and exchange controls; |
■ | Less availability of public information about issuers; |
■ | Limitations on foreign ownership of securities; |
■ | Imposition of withholding or other taxes; |
■ | Imposition of restrictions on the expatriation of the funds or other assets of the Fund; |
■ | Higher transaction and custody costs and delays in settlement procedures; |
■ | Difficulties in enforcing contractual obligations; |
■ | Lower levels of regulation of the securities markets; |
■ | Weaker accounting, disclosure and reporting requirements; and |
■ | Legal principles relating to corporate governance, directors’ fiduciary duties and liabilities and stockholders’ rights in markets in which the Fund invests may differ from and/or may not be as extensive or protective as those that apply in the U.S. |
Approximate
Value of a Creation Unit |
Creation
Unit Size |
Standard
Creation/ Redemption Transaction Fee |
Maximum
Additional
Charge for Creations* |
Maximum
Additional
Charge for Redemptions* |
||||
$2,823,000 | 50,000 | $1,700 | 3.0% | 2.0% |
* | As a percentage of the net asset value per Creation Unit, inclusive, in the case of redemptions, of the standard redemption transaction fee. |
iShares Global Materials ETF | |||||||||
Year
Ended
03/31/20 |
Year
Ended
03/31/19 |
Year
Ended
03/31/18 |
Year
Ended
03/31/17 |
Year
Ended
03/31/16 |
|||||
Net asset value, beginning of year | $ 64.22 | $ 67.34 | $ 59.25 | $ 47.64 | $ 56.97 | ||||
Net investment income(a) | 1.54 | 1.91 | 1.33 | 0.93 (b) | 1.24 | ||||
Net realized and unrealized gain (loss)(c) | (13.63) | (3.44) | 7.99 | 11.40 | (8.93) | ||||
Net increase (decrease) from investment operations | (12.09) | (1.53) | 9.32 | 12.33 | (7.69) | ||||
Distributions (d) | |||||||||
From net investment income | (2.46) | (1.59) | (1.23) | (0.72) | (1.64) | ||||
Total distributions | (2.46) | (1.59) | (1.23) | (0.72) | (1.64) | ||||
Net asset value, end of year | $ 49.67 | $ 64.22 | $ 67.34 | $ 59.25 | $ 47.64 | ||||
Total Return | |||||||||
Based on net asset value | (19.66)% | (2.14)% | 15.84% | 26.13% (b) | (13.70)% | ||||
Ratios to Average Net Assets | |||||||||
Total expenses | 0.45% | 0.46% | 0.47% | 0.48% | 0.47% | ||||
Total expenses excluding professional fees for foreign withholding tax claims | N/A | 0.46% | N/A | 0.48% | N/A | ||||
Net investment income | 2.43% | 2.91% | 2.02% | 1.73% (b) | 2.44% | ||||
Supplemental Data | |||||||||
Net assets, end of year (000) | $129,132 | $208,704 | $400,667 | $260,683 | $178,653 | ||||
Portfolio turnover rate(e) | 12% | 11% | 8% | 10% | 9% | ||||
(a) Based on average shares outstanding. |
|||||||||
(b) Reflects the one-time, positive effect of foreign withholding tax claims, net of the associated professional fees, which resulted in the following
increases for the year ended March 31, 2017:
• Net investment income per share by $0.03. • Total return by 0.07%. • Ratio of net investment income to average net assets by 0.05%. |
|||||||||
(c) The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share transactions in relation to the fluctuating market values of the Fund’s underlying securities. | |||||||||
(d) Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | |||||||||
(e) Portfolio turnover rate excludes in-kind transactions. |
Premium/Discount Range | Number of Days | Percentage of Total Days | ||
Greater than 2.5% and Less than 3.0% | 1 | 0.27% | ||
Greater than 1.0% and Less than 1.5% | 2 | 0.53 | ||
Greater than 0.5% and Less than 1.0% | 10 | 2.65 | ||
Greater than 0.0% and Less than 0.5% | 142 | 37.67 | ||
At NAV | 5 | 1.33 | ||
Less than 0.0% and Greater than -0.5% | 185 | 49.06 | ||
Less than -0.5% and Greater than -1.0% | 23 | 6.10 | ||
Less than -1.0% and Greater than -1.5% | 9 | 2.39 | ||
377 | 100.00% |
Average Annual Total Returns | Cumulative Total Returns | ||||||
1 Year | 5 Years | 10 Years | 1 Year | 5 Years | 10 Years | ||
Fund NAV | (19.66)% | (0.17)% | (0.12)% | (19.66)% | (0.87)% | (1.17)% | |
Fund Market | (19.69) | (0.16) | (0.13) | (19.69) | (0.81) | (1.26) | |
Index | (19.57) | (0.07) | 0.05 | (19.57) | (0.37) | 0.47 |
Index performance through January 30, 2013 is calculated using currency exchange (FX) rates corresponding to 5:15 P.M. ET. Index performance beginning on January 31, 2013 is calculated using FX rates corresponding to World Market Reuters 4:00 P.M. London. |
Call: |
1-800-iShares
or 1-800-474-2737 (toll free)
Monday through Friday, 8:30 a.m. to 6:30 p.m. (Eastern time) |
Email: | iSharesETFs@blackrock.com |
Write: |
c/o
BlackRock Investments, LLC
1 University Square Drive, Princeton, NJ 08540 |
July 31, 2020 | |
2020 Prospectus |
• |
iShares Global Tech
ETF | IXN | NYSE ARCA
|
|
S-1 |
|
1 |
|
2 |
|
11 |
|
16 |
|
16 |
|
20 |
|
29 |
|
29 |
|
31 |
|
31 |
|
34 |
Ticker: IXN | Stock Exchange: NYSE Arca |
1 | The amount rounded to 0.00%. |
1 Year | 3 Years | 5 Years | 10 Years | |||
$47 | $148 | $258 | $579 |
1 | The Fund’s year-to-date return as of June 30, 2020 was 12.24%. |
One Year | Five Years | Ten Years | |||
(Inception Date: 11/12/2001) | |||||
Return Before Taxes | 47.62% | 18.53% | 15.34% | ||
Return After Taxes on Distributions2 | 47.21% | 18.23% | 15.08% | ||
Return After Taxes on Distributions and Sale of Fund Shares2 | 28.43% | 15.01% | 12.95% | ||
S&P Global 1200 Information Technology IndexTM (Index returns do not reflect deductions for fees, expenses, or taxes) | 47.80% | 18.67% | 15.62% |
2 | After-tax returns in the table above are calculated using the historical highest individual U.S. federal marginal income tax rates and do not reflect the impact of state or local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown, and after-tax returns shown are not relevant to tax-exempt investors or investors who hold shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts (“IRAs”). Fund returns after taxes on distributions and sales of Fund shares are calculated assuming that an investor has sufficient capital gains of the same character from other investments to offset any capital losses from the sale of Fund shares. As a result, Fund returns after taxes on distributions and sales of Fund shares may exceed Fund returns before taxes and/or returns after taxes on distributions. |
■ | General Impact. This outbreak has resulted in travel restrictions, closed international borders, enhanced health screenings at ports of entry and elsewhere, disruption of and delays in healthcare service preparation and delivery, prolonged quarantines, cancellations, supply chain disruptions, lower consumer demand, temporary closures of stores, restaurants and other commercial establishments, layoffs, defaults and other significant economic impacts, as well as general concern and uncertainty. |
■ | Market Volatility. The outbreak has also resulted in extreme volatility, severe losses, and disruptions in markets which can adversely impact the Fund and its investments, including impairing hedging activity to the extent a Fund engages in such activity, as expected correlations between related markets or instruments may no longer apply. In addition, to the extent the Fund invests in short-term instruments that have negative yields, the Fund’s value may be impaired as a result. Certain |
issuers of equity securities have cancelled or announced the suspension of dividends. The outbreak has, and may continue to, negatively affect the credit ratings of some fixed income securities and their issuers. | |
■ | Market Closures. Certain local markets have been or may be subject to closures, and there can be no assurance that trading will continue in any local markets in which the Fund may invest, when any resumption of trading will occur or, once such markets resume trading, whether they will face further closures. Any suspension of trading in markets in which the Fund invests will have an impact on the Fund and its investments and will impact the Fund’s ability to purchase or sell securities in such markets. |
■ | Operational Risk. The outbreak could also impair the information technology and other operational systems upon which the Fund’s service providers, including BFA, rely, and could otherwise disrupt the ability of employees of the Fund’s service providers to perform critical tasks relating to the Fund, for example, due to the service providers’ employees performing tasks in alternate locations than under normal operating conditions or the illness of certain employees of the Fund’s service providers. |
■ | Governmental Interventions. Governmental and quasi-governmental authorities and regulators throughout the world have responded to the outbreak and the resulting economic disruptions with a variety of fiscal and monetary policy changes, including direct capital infusions into companies and other issuers, new monetary policy tools, and lower interest rates. An unexpected or sudden reversal of these policies, or the ineffectiveness of such policies, is likely to increase market volatility, which could adversely affect the Fund’s investments. |
■ | Pre-Existing Conditions. Public health crises caused by the outbreak may exacerbate other pre-existing political, social and economic risks in certain countries or globally. |
■ | A lack of market liquidity and market efficiency; |
■ | Greater securities price volatility; |
■ | Exchange rate fluctuations and exchange controls; |
■ | Less availability of public information about issuers; |
■ | Limitations on foreign ownership of securities; |
■ | Imposition of withholding or other taxes; |
■ | Imposition of restrictions on the expatriation of the funds or other assets of the Fund; |
■ | Higher transaction and custody costs and delays in settlement procedures; |
■ | Difficulties in enforcing contractual obligations; |
■ | Lower levels of regulation of the securities markets; |
■ | Weaker accounting, disclosure and reporting requirements; and |
■ | Legal principles relating to corporate governance, directors’ fiduciary duties and liabilities and stockholders’ rights in markets in which the Fund invests may differ from and/or may not be as extensive or protective as those that apply in the U.S. |
Approximate
Value of a Creation Unit |
Creation
Unit Size |
Standard
Creation/ Redemption Transaction Fee |
Maximum
Additional
Charge for Creations* |
Maximum
Additional
Charge for Redemptions* |
||||
$10,331,000 | 50,000 | $1,400 | 7.0% | 2.0% |
* | As a percentage of the net asset value per Creation Unit, inclusive, in the case of redemptions, of the standard redemption transaction fee. |
iShares Global Tech ETF | |||||||||
Year
Ended
03/31/20 |
Year
Ended
03/31/19 |
Year
Ended
03/31/18 |
Year
Ended
03/31/17 |
Year
Ended
03/31/16 |
|||||
Net asset value, beginning of year | $ 170.86 | $ 157.85 | $ 124.07 | $ 100.03 | $ 96.71 | ||||
Net investment income(a) | 2.30 | 1.77 | 1.20 | 1.24 (b) | 1.15 | ||||
Net realized and unrealized gain(c) | 11.99 | 12.60 | 34.01 | 23.94 | 3.27 | ||||
Net increase from investment operations | 14.29 | 14.37 | 35.21 | 25.18 | 4.42 | ||||
Distributions (d) | |||||||||
From net investment income | (2.23) | (1.36) | (1.43) | (1.14) | (1.10) | ||||
Total distributions | (2.23) | (1.36) | (1.43) | (1.14) | (1.10) | ||||
Net asset value, end of year | $ 182.92 | $ 170.86 | $ 157.85 | $ 124.07 | $ 100.03 | ||||
Total Return | |||||||||
Based on net asset value | 8.33% | 9.19% | 28.49% | 25.40% (b) | 4.59% | ||||
Ratios to Average Net Assets | |||||||||
Total expenses | 0.46% | 0.46% | 0.47% | 0.48% | 0.47% | ||||
Total expenses excluding professional fees for foreign withholding tax claims | N/A | 0.46% | N/A | 0.48% | N/A | ||||
Net investment income | 1.21% | 1.09% | 0.82% | 1.15% (b) | 1.20% | ||||
Supplemental Data | |||||||||
Net assets, end of year (000) | $2,752,872 | $2,819,178 | $1,538,998 | $1,054,554 | $765,215 | ||||
Portfolio turnover rate(e) | 7% | 17% | 5% | 6% | 5% | ||||
(a) Based on average shares outstanding. |
|||||||||
(b) Reflects the one-time, positive effect of foreign withholding tax claims, net of the associated professional fees, which resulted in the following
increases for the year ended March 31, 2017:
• Net investment income per share by $0.02. • Total return by 0.02%. • Ratio of net investment income to average net assets by 0.02%. |
|||||||||
(c) The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share transactions in relation to the fluctuating market values of the Fund’s underlying securities. | |||||||||
(d) Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | |||||||||
(e) Portfolio turnover rate excludes in-kind transactions. |
Premium/Discount Range | Number of Days | Percentage of Total Days | ||
Greater than 0.5% and Less than 1.0% | 1 | 0.27% | ||
Greater than 0.0% and Less than 0.5% | 216 | 57.28 | ||
At NAV | 7 | 1.86 | ||
Less than 0.0% and Greater than -0.5% | 148 | 39.26 | ||
Less than -0.5% and Greater than -1.0% | 3 | 0.80 | ||
Less than -1.0% and Greater than -1.5% | 2 | 0.53 | ||
377 | 100.00% |
Average Annual Total Returns | Cumulative Total Returns | ||||||
1 Year | 5 Years | 10 Years | 1 Year | 5 Years | 10 Years | ||
Fund NAV | 8.33% | 14.79% | 13.37% | 8.33% | 99.34% | 250.79% | |
Fund Market | 8.16 | 14.75 | 13.34 | 8.16 | 98.93 | 249.94 | |
Index | 8.43 | 14.92 | 13.62 | 8.43 | 100.46 | 258.70 |
Index performance through January 30, 2013 is calculated using currency exchange (FX) rates corresponding to 5:15 P.M. ET. Index performance beginning on January 31, 2013 is calculated using FX rates corresponding to World Market Reuters 4:00 P.M. London. |
Call: |
1-800-iShares
or 1-800-474-2737 (toll free)
Monday through Friday, 8:30 a.m. to 6:30 p.m. (Eastern time) |
Email: | iSharesETFs@blackrock.com |
Write: |
c/o
BlackRock Investments, LLC
1 University Square Drive, Princeton, NJ 08540 |
July 31, 2020 | |
2020 Prospectus |
• |
iShares Global Timber
& Forestry ETF | WOOD | NASDAQ
|
|
S-1 |
|
1 |
|
2 |
|
17 |
|
20 |
|
20 |
|
24 |
|
34 |
|
34 |
|
36 |
|
36 |
|
39 |
Ticker: WOOD | Stock Exchange: NASDAQ |
1 | The amount rounded to 0.00%. |
1 Year | 3 Years | 5 Years | 10 Years | |||
$47 | $148 | $258 | $579 |
1 | The Fund’s year-to-date return as of June 30, 2020 was -16.83%. |
One Year | Five Years | Ten Years | |||
(Inception Date: 6/24/2008) | |||||
Return Before Taxes | 19.58% | 6.83% | 7.43% | ||
Return After Taxes on Distributions1 | 18.83% | 6.25% | 6.91% | ||
Return After Taxes on Distributions and Sale of Fund Shares1 | 11.76% | 5.19% | 5.88% | ||
S&P Global Timber & Forestry IndexTM (Index returns do not reflect deductions for fees, expenses, or taxes) | 19.16% | 6.63% | 7.12% |
1 | After-tax returns in the table above are calculated using the historical highest individual U.S. federal marginal income tax rates and do not reflect the impact of state or local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown, and after-tax returns shown are not relevant to tax-exempt investors or investors who hold shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts (“IRAs”). Fund returns after taxes on distributions and sales of Fund shares are calculated assuming that an investor has sufficient capital gains of the same character from other investments to offset any capital losses from the sale of Fund shares. As a result, Fund returns after taxes on distributions and sales of Fund shares may exceed Fund returns before taxes and/or returns after taxes on distributions. |
■ | General Impact. This outbreak has resulted in travel restrictions, closed international borders, enhanced health screenings at ports of entry and elsewhere, disruption of and delays in healthcare service preparation and delivery, prolonged quarantines, cancellations, supply chain disruptions, lower consumer demand, temporary closures of stores, restaurants and other commercial establishments, layoffs, defaults and other significant economic impacts, as well as general concern and uncertainty. |
■ | Market Volatility. The outbreak has also resulted in extreme volatility, severe losses, and disruptions in markets which can adversely impact the Fund and its investments, including impairing hedging activity to the extent a Fund engages in such activity, as expected correlations between related markets or instruments may no longer apply. In addition, to the extent the Fund invests in short-term instruments that have negative yields, the Fund’s value may be impaired as a result. Certain issuers of equity securities have cancelled or announced the suspension of dividends. The outbreak has, and may continue to, negatively affect the credit ratings of some fixed income securities and their issuers. |
■ | Market Closures. Certain local markets have been or may be subject to closures, |
■ | Operational Risk. The outbreak could also impair the information technology and other operational systems upon which the Fund’s service providers, including BFA, rely, and could otherwise disrupt the ability of employees of the Fund’s service providers to perform critical tasks relating to the Fund, for example, due to the service providers’ employees performing tasks in alternate locations than under normal operating conditions or the illness of certain employees of the Fund’s service providers. |
■ | Governmental Interventions. Governmental and quasi-governmental authorities and regulators throughout the world have responded to the outbreak and the resulting economic disruptions with a variety of fiscal and monetary policy changes, including direct capital infusions into companies and other issuers, new monetary policy tools, and lower interest rates. An unexpected or sudden reversal of these policies, or the ineffectiveness of such policies, is likely to increase market volatility, which could adversely affect the Fund’s investments. |
■ | Pre-Existing Conditions. Public health crises caused by the outbreak may exacerbate other pre-existing political, social and economic risks in certain countries or globally. |
■ | A lack of market liquidity and market efficiency; |
■ | Greater securities price volatility; |
■ | Exchange rate fluctuations and exchange controls; |
■ | Less availability of public information about issuers; |
■ | Limitations on foreign ownership of securities; |
■ | Imposition of withholding or other taxes; |
■ | Imposition of restrictions on the expatriation of the funds or other assets of the Fund; |
■ | Higher transaction and custody costs and delays in settlement procedures; |
■ | Difficulties in enforcing contractual obligations; |
■ | Lower levels of regulation of the securities markets; |
■ | Weaker accounting, disclosure and reporting requirements; and |
■ | Legal principles relating to corporate governance, directors’ fiduciary duties and liabilities and stockholders’ rights in markets in which the Fund invests may differ from and/or may not be as extensive or protective as those that apply in the U.S. |
Approximate
Value of a Creation Unit |
Creation
Unit Size |
Standard
Creation/ Redemption Transaction Fee |
Maximum
Additional
Charge for Creations* |
Maximum
Additional
Charge for Redemptions* |
||||
$3,175,800 | 60,000 | $300 | 3.0% | 2.0% |
* | As a percentage of the net asset value per Creation Unit, inclusive, in the case of redemptions, of the standard redemption transaction fee. |
iShares Global Timber & Forestry ETF | |||||||||
Year
Ended
03/31/20 |
Year
Ended
03/31/19 |
Year
Ended
03/31/18 |
Year
Ended
03/31/17 |
Year
Ended
03/31/16 |
|||||
Net asset value, beginning of year | $ 63.82 | $ 78.11 | $ 57.39 | $ 47.07 | $ 54.68 | ||||
Net investment income(a) | 0.79 | 1.57 | 0.82 | 1.06 (b) | 0.66 | ||||
Net realized and unrealized gain (loss)(c) | (15.27) | (14.25) | 20.75 | 10.14 | (7.30) | ||||
Net increase (decrease) from investment operations | (14.48) | (12.68) | 21.57 | 11.20 | (6.64) | ||||
Distributions (d) | |||||||||
From net investment income | (1.24) | (1.61) | (0.85) | (0.88) | (0.97) | ||||
Total distributions | (1.24) | (1.61) | (0.85) | (0.88) | (0.97) | ||||
Net asset value, end of year | $ 48.10 | $ 63.82 | $ 78.11 | $ 57.39 | $ 47.07 | ||||
Total Return | |||||||||
Based on net asset value | (23.04)% | (16.22)% | 37.92% | 24.18% (b) | (12.25)% | ||||
Ratios to Average Net Assets | |||||||||
Total expenses | 0.46% | 0.46% | 0.47% | 0.51% | 0.47% | ||||
Total expenses excluding professional fees for foreign withholding tax claims | N/A | 0.46% | N/A | 0.48% | N/A | ||||
Net investment income | 1.30% | 2.17% | 1.21% | 2.09% (b) | 1.33% | ||||
Supplemental Data | |||||||||
Net assets, end of year (000) | $173,178 | $279,553 | $440,542 | $234,161 | $180,739 | ||||
Portfolio turnover rate(e) | 10% | 18% | 31% | 17% | 22% | ||||
(a) Based on average shares outstanding. |
|||||||||
(b) Reflects the one-time, positive effect of foreign withholding tax claims, net of the associated professional fees, which resulted in the following
increases for the year ended March 31, 2017:
• Net investment income per share by $0.14. • Total return by 0.30%. • Ratio of net investment income to average net assets by 0.27%. |
|||||||||
(c) The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share transactions in relation to the fluctuating market values of the Fund’s underlying securities. | |||||||||
(d) Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | |||||||||
(e) Portfolio turnover rate excludes in-kind transactions. |
Premium/Discount Range | Number of Days | Percentage of Total Days | ||
Greater than 2.0% and Less than 2.5% | 1 | 0.27% | ||
Greater than 0.5% and Less than 1.0% | 11 | 2.92 | ||
Greater than 0.0% and Less than 0.5% | 173 | 45.88 | ||
At NAV | 6 | 1.59 | ||
Less than 0.0% and Greater than -0.5% | 159 | 42.17 | ||
Less than -0.5% and Greater than -1.0% | 17 | 4.51 | ||
Less than -1.0% and Greater than -1.5% | 6 | 1.59 | ||
Less than -1.5% and Greater than -2.0% | 3 | 0.80 | ||
Less than -2.0% and Greater than -2.5% | 1 | 0.27 | ||
377 | 100.00% |
Average Annual Total Returns | Cumulative Total Returns | ||||||
1 Year | 5 Years | 10 Years | 1 Year | 5 Years | 10 Years | ||
Fund NAV | (23.04)% | (0.64)% | 3.55% | (23.04)% | (3.17)% | 41.78% | |
Fund Market | (23.46) | (0.75) | 3.44 | (23.46) | (3.69) | 40.29 | |
Index | (23.36) | (0.85) | 3.20 | (23.36) | (4.20) | 37.09 |
Call: |
1-800-iShares
or 1-800-474-2737 (toll free)
Monday through Friday, 8:30 a.m. to 6:30 p.m. (Eastern time) |
Email: | iSharesETFs@blackrock.com |
Write: |
c/o
BlackRock Investments, LLC
1 University Square Drive, Princeton, NJ 08540 |
July 31, 2020 | |
2020 Prospectus |
• |
iShares Global Utilities
ETF | JXI | NYSE ARCA
|
|
S-1 |
|
1 |
|
2 |
|
14 |
|
16 |
|
16 |
|
19 |
|
29 |
|
29 |
|
31 |
|
31 |
|
34 |
Ticker: JXI | Stock Exchange: NYSE Arca |
1 | The amount rounded to 0.00%. |
1 Year | 3 Years | 5 Years | 10 Years | |||
$47 | $148 | $258 | $579 |
1 | The Fund’s year-to-date return as of June 30, 2020 was -8.21%. |
One Year | Five Years | Ten Years | |||
(Inception Date: 9/12/2006) | |||||
Return Before Taxes | 24.02% | 7.51% | 6.16% | ||
Return After Taxes on Distributions2 | 22.98% | 6.58% | 5.38% | ||
Return After Taxes on Distributions and Sale of Fund Shares2 | 14.89% | 5.73% | 4.88% | ||
S&P Global 1200 Utilities Index (Index returns do not reflect deductions for fees, expenses, or taxes) | 23.66% | 7.19% | 5.87% |
2 | After-tax returns in the table above are calculated using the historical highest individual U.S. federal marginal income tax rates and do not reflect the impact of state or local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown, and after-tax returns shown are not relevant to tax-exempt investors or investors who hold shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts (“IRAs”). Fund returns after taxes on distributions and sales of Fund shares are calculated assuming that an investor has sufficient capital gains of the same character from other investments to offset any capital losses from the sale of Fund shares. As a result, Fund returns after taxes on distributions and sales of Fund shares may exceed Fund returns before taxes and/or returns after taxes on distributions. |
■ | General Impact. This outbreak has resulted in travel restrictions, closed international borders, enhanced health screenings at ports of entry and elsewhere, disruption of and delays in healthcare service preparation and delivery, prolonged quarantines, cancellations, supply chain disruptions, lower consumer demand, temporary closures of stores, restaurants and other commercial establishments, layoffs, defaults and other significant economic impacts, as well as general concern and uncertainty. |
■ | Market Volatility. The outbreak has also resulted in extreme volatility, severe losses, and disruptions in markets which can adversely impact the Fund and its investments, including impairing hedging activity to the extent a Fund engages in such activity, as expected correlations between related markets or instruments may no longer apply. In addition, to the extent the Fund invests in short-term instruments that have negative yields, the Fund’s value may be impaired as a result. Certain issuers of equity securities have cancelled or announced the suspension of dividends. The outbreak has, and may continue to, negatively affect the credit ratings of some fixed income securities and their issuers. |
■ | Market Closures. Certain local markets have been or may be subject to closures, and there can be no assurance that trading will continue in any local markets in which the Fund may invest, when any resumption of trading will occur or, once such markets resume trading, whether they will face further closures. Any suspension of trading in markets in which the Fund invests will have an impact on the Fund and its investments and will impact the Fund’s ability to purchase or sell securities in such markets. |
■ | Operational Risk. The outbreak could also impair the information technology and other operational systems upon which the Fund’s service providers, including BFA, rely, and could otherwise disrupt the ability of employees of the Fund’s service providers to perform critical tasks relating to the Fund, for example, due to the service providers’ employees performing tasks in alternate locations than under normal operating conditions or the illness of certain employees of the Fund’s service providers. |
■ | Governmental Interventions. Governmental and quasi-governmental authorities and regulators throughout the world have responded to the outbreak and the resulting economic disruptions with a variety of fiscal and monetary policy changes, including direct capital infusions into companies and other issuers, new monetary policy tools, and lower interest rates. An unexpected or sudden reversal of these policies, or the ineffectiveness of such policies, is likely to increase market volatility, which could adversely affect the Fund’s investments. |
■ | Pre-Existing Conditions. Public health crises caused by the outbreak may exacerbate other pre-existing political, social and economic risks in certain countries or globally. |
■ | A lack of market liquidity and market efficiency; |
■ | Greater securities price volatility; |
■ | Exchange rate fluctuations and exchange controls; |
■ | Less availability of public information about issuers; |
■ | Limitations on foreign ownership of securities; |
■ | Imposition of withholding or other taxes; |
■ | Imposition of restrictions on the expatriation of the funds or other assets of the Fund; |
■ | Higher transaction and custody costs and delays in settlement procedures; |
■ | Difficulties in enforcing contractual obligations; |
■ | Lower levels of regulation of the securities markets; |
■ | Weaker accounting, disclosure and reporting requirements; and |
■ | Legal principles relating to corporate governance, directors’ fiduciary duties and |
Approximate
Value of a Creation Unit |
Creation
Unit Size |
Standard
Creation/ Redemption Transaction Fee |
Maximum
Additional
Charge for Creations* |
Maximum
Additional
Charge for Redemptions* |
||||
$2,607,500 | 50,000 | $1,600 | 7.0% | 2.0% |
* | As a percentage of the net asset value per Creation Unit, inclusive, in the case of redemptions, of the standard redemption transaction fee. |
iShares Global Utilities ETF | |||||||||
Year
Ended
03/31/20 |
Year
Ended
03/31/19 |
Year
Ended
03/31/18 |
Year
Ended
03/31/17 |
Year
Ended
03/31/16 |
|||||
Net asset value, beginning of year | $ 54.08 | $ 48.78 | $ 48.09 | $ 48.11 | $ 46.57 | ||||
Net investment income(a) | 1.62 | 1.78 | 1.79 | 1.92 (b) | 1.54 | ||||
Net realized and unrealized gain (loss)(c) | (2.98) | 5.07 | 0.69 | 0.19 | 1.66 | ||||
Net increase (decrease) from investment operations | (1.36) | 6.85 | 2.48 | 2.11 | 3.20 | ||||
Distributions (d) | |||||||||
From net investment income | (2.01) | (1.55) | (1.79) | (2.13) | (1.66) | ||||
Total distributions | (2.01) | (1.55) | (1.79) | (2.13) | (1.66) | ||||
Net asset value, end of year | $ 50.71 | $ 54.08 | $ 48.78 | $ 48.09 | $ 48.11 | ||||
Total Return | |||||||||
Based on net asset value | (2.84)% | 14.40% | 5.13% | 4.61% (b) | 7.19% | ||||
Ratios to Average Net Assets | |||||||||
Total expenses | 0.46% | 0.46% | 0.47% | 0.48% | 0.47% | ||||
Total expenses excluding professional fees for foreign withholding tax claims | N/A | 0.46% | N/A | 0.48% | N/A | ||||
Net investment income | 2.87% | 3.53% | 3.58% | 4.07% (b) | 3.37% | ||||
Supplemental Data | |||||||||
Net assets, end of year (000) | $152,123 | $208,222 | $131,708 | $137,044 | $168,382 | ||||
Portfolio turnover rate(e) | 6% | 8% | 4% | 15% | 9% | ||||
(a) Based on average shares outstanding. |
|||||||||
(b) Reflects the one-time, positive effect of foreign withholding tax claims, net of the associated professional fees, which resulted in the following
increases for the year ended March 31, 2017:
• Net investment income per share by $0.03. • Total return by 0.09%. • Ratio of net investment income to average net assets by 0.06%. |
|||||||||
(c) The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share transactions in relation to the fluctuating market values of the Fund’s underlying securities. | |||||||||
(d) Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | |||||||||
(e) Portfolio turnover rate excludes in-kind transactions. |
Premium/Discount Range | Number of Days | Percentage of Total Days | ||
Greater than 1.0% and Less than 1.5% | 1 | 0.27% | ||
Greater than 0.5% and Less than 1.0% | 2 | 0.53 | ||
Greater than 0.0% and Less than 0.5% | 120 | 31.83 | ||
At NAV | 16 | 4.24 | ||
Less than 0.0% and Greater than -0.5% | 232 | 61.53 | ||
Less than -0.5% and Greater than -1.0% | 5 | 1.33 | ||
Less than -1.0% and Greater than -1.5% | 1 | 0.27 | ||
377 | 100.00% |
Average Annual Total Returns | Cumulative Total Returns | ||||||
1 Year | 5 Years | 10 Years | 1 Year | 5 Years | 10 Years | ||
Fund NAV | (2.84)% | 5.55% | 5.08% | (2.84)% | 31.03% | 64.15% | |
Fund Market | (2.77) | 5.59 | 5.12 | (2.77) | 31.24 | 64.72 | |
Index | (3.13) | 5.24 | 4.80 | (3.13) | 29.09 | 59.79 |
Index performance through January 30, 2013 is calculated using currency exchange (FX) rates corresponding to 5:15 P.M. ET. Index performance beginning on January 31, 2013 is calculated using FX rates corresponding to World Market Reuters 4:00 P.M. London. |
Call: |
1-800-iShares
or 1-800-474-2737 (toll free)
Monday through Friday, 8:30 a.m. to 6:30 p.m. (Eastern time) |
Email: | iSharesETFs@blackrock.com |
Write: |
c/o
BlackRock Investments, LLC
1 University Square Drive, Princeton, NJ 08540 |
July 31, 2020 | |
2020 Prospectus |
• |
iShares iBonds Sep 2020
Term Muni Bond ETF* | IBMI | NYSE ARCA
|
|
S-1 |
|
1 |
|
2 |
|
15 |
|
16 |
|
16 |
|
18 |
|
27 |
|
28 |
|
29 |
|
29 |
|
32 |
Ticker: IBMI | Stock Exchange: NYSE Arca |
1 | The amount rounded to 0.00%. |
Maturity | ||
$2 |
1 | The Fund’s year-to-date return as of June 30, 2020 was 0.47%. |
One Year | Five Years |
Since
Fund
Inception |
|||
(Inception Date: 8/12/2014) | |||||
Return Before Taxes | 2.02% | 1.54% | 1.58% | ||
Return After Taxes on Distributions2 | 2.02% | 1.54% | 1.58% | ||
Return After Taxes on Distributions and Sale of Fund Shares2 | 1.73% | 1.46% | 1.49% | ||
S&P AMT-Free Municipal Series 2020 IndexTM (Index returns do not reflect deductions for fees, expenses, or taxes) | 2.19% | 1.66% | 1.66% |
2 | After-tax returns in the table above are calculated using the historical highest individual U.S. federal marginal income tax rates and do not reflect the impact of state or local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown, and after-tax returns shown are not relevant to tax-exempt investors or investors who hold shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts (“IRAs”). Fund returns after taxes on distributions and sales of Fund shares are calculated assuming that an investor has sufficient capital gains of the same character from other investments to offset any capital losses from the sale of Fund shares. As a result, Fund returns after taxes on distributions and sales of Fund shares may exceed Fund returns before taxes and/or returns after taxes on distributions. |
■ | General Impact. This outbreak has resulted in travel restrictions, closed international borders, enhanced health screenings at ports of entry and elsewhere, disruption of and delays in healthcare service preparation and delivery, prolonged quarantines, cancellations, supply chain disruptions, lower consumer demand, temporary closures of stores, restaurants and other commercial establishments, layoffs, defaults and other significant economic impacts, as well as general concern and uncertainty. |
■ | Market Volatility. The outbreak has also resulted in extreme volatility, severe losses, and disruptions in markets which can adversely impact the Fund and its investments, including impairing hedging activity to the extent a Fund engages in such activity, as expected correlations between related markets or instruments may no longer apply. In addition, to the extent the Fund invests in short-term instruments that have negative yields, the Fund’s value may be impaired as a result. Certain issuers of equity securities have cancelled or announced the suspension of dividends. The outbreak has, and may continue to, negatively affect the credit ratings of some fixed income securities and their issuers. |
■ | Market Closures. Certain local markets have been or may be subject to closures, and there can be no assurance that trading will continue in any local markets in which the Fund may invest, when any resumption of trading will occur or, once such markets resume trading, whether they will face further closures. Any suspension of trading in markets in which the Fund invests will have an impact on the Fund and its investments and will impact the Fund’s ability to purchase or sell securities in such markets. |
■ | Operational Risk. The outbreak could also impair the information technology and other operational systems upon which the Fund’s service providers, including BFA, rely, and could otherwise disrupt the ability of employees of the Fund’s service providers to perform critical tasks relating to the Fund, for example, due to the service providers’ employees performing tasks in alternate locations than under normal operating conditions or the illness of certain employees of the Fund’s service providers. |
■ | Governmental Interventions. Governmental and quasi-governmental authorities and regulators throughout the world have responded to the outbreak and the resulting economic disruptions with a variety of fiscal and monetary policy changes, including direct capital infusions into companies and other issuers, new monetary policy tools, and lower interest rates. An unexpected or sudden reversal of these policies, or the ineffectiveness of such policies, is likely to increase market volatility, which could adversely affect the Fund’s investments. |
■ | Pre-Existing Conditions. Public health crises caused by the outbreak may exacerbate other pre-existing political, social and economic risks in certain countries or globally. |
Approximate
Value of a Creation Unit |
Creation
Unit Size |
Standard
Creation/ Redemption Transaction Fee |
Maximum
Additional
Charge for Creations* |
Maximum
Additional
Charge for Redemptions* |
||||
$1,276,500 | 50,000 | $150 | 3.0% | 2.0% |
* | As a percentage of the net asset value per Creation Unit, inclusive, in the case of redemptions, of the standard redemption transaction fee. |
iShares iBonds Sep 2020 Term Muni Bond ETF | |||||||||
Year
Ended
03/31/20 |
Year
Ended
03/31/19 |
Year
Ended
03/31/18 |
Year
Ended
03/31/17 |
Year
Ended
03/31/16 |
|||||
Net asset value, beginning of year | $ 25.49 | $ 25.32 | $ 25.52 | $ 25.72 | $ 25.31 | ||||
Net investment income(a) | 0.33 | 0.32 | 0.29 | 0.29 | 0.33 | ||||
Net realized and unrealized gain (loss)(b) | 0.04 | 0.15 | (0.21) | (0.20) | 0.39 | ||||
Net increase from investment operations | 0.37 | 0.47 | 0.08 | 0.09 | 0.72 | ||||
Distributions (c) | |||||||||
From net investment income | (0.33) | (0.30) | (0.28) | (0.29) | (0.31) | ||||
Total distributions | (0.33) | (0.30) | (0.28) | (0.29) | (0.31) | ||||
Net asset value, end of year | $ 25.53 | $ 25.49 | $ 25.32 | $ 25.52 | $ 25.72 | ||||
Total Return | |||||||||
Based on net asset value | 1.46% | 1.92% | 0.29% | 0.33% | 2.89% | ||||
Ratios to Average Net Assets | |||||||||
Total expenses | 0.18% | 0.18% | 0.18% | 0.21% | 0.30% | ||||
Total expenses after fees waived | 0.18% | 0.18% | 0.18% | 0.18% | 0.18% | ||||
Net investment income | 1.28% | 1.24% | 1.13% | 1.14% | 1.28% | ||||
Supplemental Data | |||||||||
Net assets, end of year (000) | $311,416 | $349,230 | $258,223 | $172,247 | $79,730 | ||||
Portfolio turnover rate(d) | 4% | 0% (e) | 0% (e) | 0% | 2% | ||||
(a) Based on average shares outstanding. |
|||||||||
(b) The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share transactions in relation to the fluctuating market values of the Fund’s underlying securities. | |||||||||
(c) Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | |||||||||
(d) Portfolio turnover rate excludes in-kind transactions. | |||||||||
(e) Rounds to less than 1%. |
Premium/Discount Range | Number of Days | Percentage of Total Days | ||
Greater than 0.0% and Less than 0.5% | 91 | 24.13% | ||
At NAV | 24 | 6.37 | ||
Less than 0.0% and Greater than -0.5% | 250 | 66.32 | ||
Less than -0.5% and Greater than -1.0% | 12 | 3.18 | ||
377 | 100.00% |
Average Annual Total Returns | Cumulative Total Returns | ||||||
1 Year | 5 Years |
Since
Inception |
1 Year | 5 Years |
Since
Inception |
||
Fund NAV | 1.46% | 1.37% | 1.55% | 1.46% | 7.05% | 9.06% | |
Fund Market | 0.78 | 1.16 | 1.43 | 0.78 | 5.96 | 8.33 | |
Index | 1.62 | 1.53 | 1.63 | 1.62 | 7.86 | 9.54 |
Total returns for the period since inception are calculated from the inception date of the Fund (08/12/14). The first day of secondary market trading in shares of the Fund was 8/14/14. |
Call: |
1-800-iShares
or 1-800-474-2737 (toll free)
Monday through Friday, 8:30 a.m. to 6:30 p.m. (Eastern time) |
Email: | iSharesETFs@blackrock.com |
Write: |
c/o
BlackRock Investments, LLC
1 University Square Drive, Princeton, NJ 08540 |
July 31, 2020 | |
2020 Prospectus |
• |
iShares India 50
ETF | INDY | NASDAQ
|
|
S-1 |
|
1 |
|
2 |
|
19 |
|
20 |
|
21 |
|
24 |
|
37 |
|
38 |
|
39 |
|
39 |
|
41 |
Ticker: INDY | Stock Exchange: NASDAQ |
1 Year | 3 Years | 5 Years | 10 Years | |||
$95 | $296 | $515 | $1143 |
1 | The Fund’s year-to-date return as of June 30, 2020 was -19.63%. |
One Year | Five Years | Ten Years | |||
(Inception Date: 11/18/2009) | |||||
Return Before Taxes | 10.01% | 5.72% | 4.79% | ||
Return After Taxes on Distributions1 | 9.87% | 5.63% | 4.69% | ||
Return After Taxes on Distributions and Sale of Fund Shares1 | 6.05% | 4.49% | 3.82% | ||
Nifty 50 IndexTM (Index returns do not reflect deductions for fees, expenses, or taxes)2 | 10.99% | 6.80% | 5.62% |
1 | After-tax returns in the table above are calculated using the historical highest individual U.S. federal marginal income tax rates and do not reflect the impact of state or local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown, and after-tax returns shown are not relevant to tax-exempt investors or investors who hold shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts (“IRAs”). Fund returns after taxes on distributions and sales of Fund shares are calculated assuming that an investor has sufficient capital gains of the same character from other investments to offset any capital losses from the sale of Fund shares. As a result, Fund returns after taxes on distributions and sales of Fund shares may exceed Fund returns before taxes and/or returns after taxes on distributions. |
2 | On November 9, 2015, the name of the Fund's Underlying Index changed from the CNX Nifty IndexTM to the Nifty 50 IndexTM. |
■ | General Impact. This outbreak has resulted in travel restrictions, closed international borders, enhanced health screenings at ports of entry and elsewhere, disruption of and delays in healthcare service preparation and delivery, prolonged quarantines, cancellations, supply chain disruptions, lower consumer demand, temporary closures of stores, restaurants and other commercial establishments, layoffs, defaults and other significant economic impacts, as well as general concern and uncertainty. |
■ | Market Volatility. The outbreak has also resulted in extreme volatility, severe losses, and disruptions in markets which can adversely impact the Fund and its investments, including impairing hedging activity to the extent a Fund engages in such activity, as expected correlations between related markets or instruments may no longer apply. In addition, to the extent the Fund invests in short-term instruments that have negative yields, the Fund’s value may be impaired as a result. Certain issuers of equity securities have cancelled or announced the suspension of dividends. The outbreak has, and may continue to, negatively affect the credit ratings of some fixed income securities and their issuers. |
■ | Market Closures. Certain local markets have been or may be subject to closures, and there can be no assurance that trading will continue in any local markets in which the Fund may invest, when any resumption of trading will occur or, once such markets resume trading, whether they will face further closures. Any suspension of trading in markets in which the Fund invests will have an impact on the Fund and its investments and will impact the Fund’s ability to purchase or sell securities in such markets. |
■ | Operational Risk. The outbreak could also impair the information technology and |
■ | Governmental Interventions. Governmental and quasi-governmental authorities and regulators throughout the world have responded to the outbreak and the resulting economic disruptions with a variety of fiscal and monetary policy changes, including direct capital infusions into companies and other issuers, new monetary policy tools, and lower interest rates. An unexpected or sudden reversal of these policies, or the ineffectiveness of such policies, is likely to increase market volatility, which could adversely affect the Fund’s investments. |
■ | Pre-Existing Conditions. Public health crises caused by the outbreak may exacerbate other pre-existing political, social and economic risks in certain countries or globally. |
■ | A lack of market liquidity and market efficiency; |
■ | Greater securities price volatility; |
■ | Exchange rate fluctuations and exchange controls; |
■ | Less availability of public information about issuers; |
■ | Limitations on foreign ownership of securities; |
■ | Imposition of withholding or other taxes; |
■ | Imposition of restrictions on the expatriation of the funds or other assets of the Fund; |
■ | Higher transaction and custody costs and delays in settlement procedures; |
■ | Difficulties in enforcing contractual obligations; |
■ | Lower levels of regulation of the securities markets; |
■ | Weaker accounting, disclosure and reporting requirements; and |
■ | Legal principles relating to corporate governance, directors’ fiduciary duties and liabilities and stockholders’ rights in markets in which the Fund invests may differ from and/or may not be as extensive or protective as those that apply in the U.S. |
■ | With respect to a foreign entity that holds the Indian assets directly, if the transferor of share or interest in such a foreign entity (along with its associated enterprises), at any time in the twelve months preceding the year of transfer neither holds the right of control or management in the foreign entity, nor holds voting power or share capital or interest exceeding 5% of the total voting power or total share capital or total interest in such foreign entity. |
■ | With respect to a foreign entity that holds the Indian assets indirectly, if the transferor of share or interest in such foreign entity (along with its associated enterprises), at any time in the twelve months preceding the year of transfer does not hold the right of control or management in relation to the foreign entity, which would entitle them to the right of control or management in the foreign entity which directly holds the Indian assets; or does not hold voting power or share capital or interest exceeding 5% of the total voting power or total share capital or total interest in the foreign entity, which results in holding the same share capital or voting power in the entity which directly holds the Indian assets. |
■ | creates rights, or obligations, which are not ordinarily created between persons dealing at arm's length; |
■ | results, directly or indirectly, in the misuse, or abuse, of the provisions of IT Act; |
■ | lacks commercial substance; or |
■ | is entered into, or carried out, by means, or in a manner, which are not ordinarily employed for bona fide purposes. |
■ | any arrangement where the aggregate tax benefit to all the parties of the arrangement in the relevant financial year does not exceed INR 30 Million; |
■ | foreign institutional investors (“FIIs”) that choose not to take any benefit under any |
■ | non-resident investor in an FII who has invested in an FII, directly or indirectly, by way of an offshore derivative instrument or otherwise; or |
■ | any income derived from the transfer of shares or interests made prior to April 1, 2017. |
■ | Dividend: Prior to the Finance Act, 2020, the dividend distributed by a domestic company was subject to dividend distribution tax at an effective rate of 20.56% (inclusive of surcharge and cess), in the hands of such domestic company. Such dividends received by non-resident shareholders are exempt from taxation in India in the hands of such non-resident shareholders. However, the Finance Act, 2020 amended the IT Act to abolish the dividend distribution tax regime. |
■ | Under the amended the IT Act the dividend income would be subject to tax directly in the hand of the shareholder and no tax is required to be paid by the domestic company distributing dividends. Dividend income earned by the by a non-resident would be subject to tax in its hands at the rate of 21.84% under the IT Act. |
■ | Subsidiary, being a resident of Mauritius may claim the benefit of the DTAA. As per the DTAA dividend income received by the Subsidiary from an Indian company would be taxed at the rate of 5%, provided the Subsidiary directly holds at least 10% of the capital of such company. Otherwise such dividend income would be subject to tax at the rate of 15%. Further, the distribution of dividends, would also be subject to withholding tax and the domestic company distributing dividends to the Subsidiary would be required to withhold tax at the aforementioned rates. |
■ | Interest: Interest paid to the Subsidiary in respect of debt obligations of Indian issuers will be subject to Indian income tax. The tax rate in the case of a rupee-denominated debt obligation is 43.68%. However if the Subsidiary is a SEBI registered FPI, interest income earned from June 1, 2013 to June 30, 2023 on rupee denominated bonds of Indian companies and Indian government securities will be subject to tax at the rate of 5.46%, provided that the rate of interest does not exceed the prescribed rates. In the case of a foreign-currency denominated debt obligation, the tax rate is 21.84%. For approved foreign-currency loans advanced from July 1, 2012 to June 30, 2023, the tax rate on interest is 5.46% and for approved foreign currency long-term bonds issued from October 1, 2014 to June 30, |
2023, the tax rate on interest is 5.46%. The IT Act provides the withholding tax rate on rupee-denominated bonds issued before July 1, 2023 to be 5.46%. The Subsidiary may claim the benefit of the provisions of the DTAA, to the extent they are more beneficial. DTAA provides for a withholding rate of 7.5% on the interest payments made on or after April 1, 2017. |
■ | Securities Transaction Tax: All transactions entered on a recognized stock exchange in India are subject to a Securities Transaction Tax (“STT”). STT has been introduced under Section 98 of the Finance (No.2) Act, 2004 on transactions relating to sale, purchases and redemption of shares made by purchasers or sellers of Indian securities and equity oriented mutual fund units. The current STT as levied on the transaction value as follows: |
■ | 0.1% payable by the buyer and 0.1% by the seller on the value of transactions of delivery based transfer of an equity share in an Indian company entered in a recognized stock exchange; |
■ | 0.001% on the value of transactions of delivery based sale of a unit of an equity oriented mutual fund entered in a recognized stock exchange, payable by the seller; |
■ | 0.025% on the value of transactions of non-delivery based sale of an equity share in an Indian company or a unit of an equity oriented mutual fund, entered in a recognized stock exchange payable by the seller; |
■ | 0.05% on the value of transactions of derivatives being options, entered in a recognized stock exchange. STT is to be paid by the seller; |
■ | 0.01% on the value of transactions of sale of derivatives being futures, entered in a recognized stock exchange. STT is to be paid by the seller; |
■ | 0.001% on the value of transactions of sale of units of an equity-oriented fund to the Mutual Fund, payable by the seller in accordance with the Finance Act, 2013; |
■ | 0.125% on the value of transactions of sale of derivatives being options, where the option is exercised, entered in a recognized stock exchange. STT is to be paid by buyer; |
■ | 0.2% on the value of transactions of the sale of unlisted shares by existing shareholders in an initial public offer. |
■ | Capital Gains: Assuming total income will be more than INR 100 million, the taxation of capital gains would be as follows: (i) long-term capital gains (being gains on sale of shares held for a period of more than 12 months) listed on a recognized stock exchange would be taxable in India at a rate of 10.92%, provided STT has been paid, both on acquisition and sale (subject to certain transactions, to which the provisions of applicability and payment of STT upon acquisition shall not be applicable) of such shares. Capital gains tax would be calculated on gains exceeding INR 0.1 million (without any indexation and foreign exchange fluctuation benefits). It may also be noted that any capital gains arising up to January 31, 2018 have been grandfathered; (ii) short-term capital gains (being gains on sale of shares held for a period of 12 months or less) from the sale of Indian shares listed on a recognized stock exchange will be taxed at the rate of 16.38% provided STT has been paid on the same; (iii) long-term capital gains (being gains on sale of shares held for a period |
of more than 24 months) arising to the Subsidiary from the sale of unlisted securities will be taxed at the rate of 10.92% (without indexation) and short-term capital gains (being gains on sale of shares held for a period of 24 months or less) will be taxed at the rate of 43.68% (however, if the Subsidiary is a SEBI registered sub-account, the rates will be at 10.92% and 32.76%, respectively); (iv) capital gains realized on sale of listed equity shares not executed on a recognized stock exchange in India would be taxed at the rate of 10.92% for long-term gains (being gains on sale of shares held for a period of more than 12 months) and at 43.68% in the case of short-term gains (being gains on sale of shares held for a period of 12 months or less); and (v) capital gains arising from the transfer of depositary receipts outside India between non-resident investors will not be subject to tax in India. These rates will be subject to the beneficial provisions of the DTAA. |
■ | With respect to a foreign entity that holds the Indian assets directly, if the transferor of share or interest in such a foreign entity (along with its associated enterprises), at any time in the twelve months preceding the year of transfer neither holds the right of control or management in the foreign entity, nor holds voting power or share capital or interest exceeding 5% of the total voting power or total share capital or total interest in such foreign entity. |
■ | With respect to a foreign entity that holds the Indian assets indirectly, if the transferor of share or interest in such foreign entity (along with its associated enterprises), at any time in the twelve months preceding the year of transfer does not hold the right of control or management in relation to the foreign entity, which would entitle them to the right of control or management in the foreign entity which directly holds the Indian assets; or does not hold voting power or share capital or interest exceeding 5% of the total voting power or total share capital or total interest in the foreign entity, which results in holding the same share capital or voting power in the entity which directly holds the Indian assets. |
■ | any arrangement where the aggregate tax benefit to all the parties of the arrangement in the relevant financial year does not exceed INR 30 Million; |
■ | FIIs that choose not to take any benefit under any tax treaty entered with India and have invested in listed or unlisted securities with prior permission of the competent authority in accordance with the applicable regulations; |
■ | non-resident investor in an FII who has invested in an FII, directly or indirectly, by way of an offshore derivative instrument or otherwise; or |
■ | any income derived from the transfer of shares or interests made prior to April 1, 2017. |
Approximate
Value of a Creation Unit |
Creation
Unit Size |
Standard
Creation/ Redemption Transaction Fee |
Maximum
Additional
Charge for Creations* |
Maximum
Additional
Charge for Redemptions* |
||||
$1,493,500 | 50,000 | $2,500 | 3.0% | 2.0% |
* | As a percentage of the net asset value per Creation Unit, inclusive, in the case of redemptions, of the standard redemption transaction fee. |
iShares India 50 ETF | |||||||||
Year
Ended
03/31/20 |
Year
Ended
03/31/19 |
Year
Ended
03/31/18 |
Year
Ended
03/31/17 |
Year
Ended
03/31/16 |
|||||
Net asset value, beginning of year | $ 37.92 | $ 35.00 | $ 32.27 | $ 26.81 | $ 31.06 | ||||
Net investment income(a) | 0.19 | 0.16 | 0.15 | 0.12 | 0.18 | ||||
Net realized and unrealized gain (loss)(b) | (12.01) | 2.97 | 2.68 | 5.47 | (4.27) | ||||
Net increase (decrease) from investment operations | (11.82) | 3.13 | 2.83 | 5.59 | (4.09) | ||||
Distributions (c) | |||||||||
From net investment income | (0.23) | (0.21) | (0.10) | (0.13) | (0.16) | ||||
Total distributions | (0.23) | (0.21) | (0.10) | (0.13) | (0.16) | ||||
Net asset value, end of year | $ 25.87 | $ 37.92 | $ 35.00 | $ 32.27 | $ 26.81 | ||||
Total Return | |||||||||
Based on net asset value | (31.41)% | 9.04% | 8.76% | 20.94% | (13.22)% | ||||
Ratios to Average Net Assets | |||||||||
Total expenses | 0.93% | 0.94% | 0.92% | 0.93% | 0.94% | ||||
Net investment income | 0.51% | 0.45% | 0.42% | 0.43% | 0.62% | ||||
Supplemental Data | |||||||||
Net assets, end of year (000) | $483,841 | $828,545 | $1,120,132 | $846,994 | $714,535 | ||||
Portfolio turnover rate(d) | 26% | 24% | 14% | 11% | 14% | ||||
(a) Based on average shares outstanding. |
|||||||||
(b) The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share transactions in relation to the fluctuating market values of the Fund’s underlying securities. | |||||||||
(c) Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | |||||||||
(d) Portfolio turnover rate excludes in-kind transactions. |
Premium/Discount Range | Number of Days | Percentage of Total Days | ||
Greater than 3.0% and Less than 3.5% | 2 | 0.53% | ||
Greater than 2.5% and Less than 3.0% | 3 | 0.80 | ||
Greater than 1.5% and Less than 2.0% | 3 | 0.80 | ||
Greater than 1.0% and Less than 1.5% | 11 | 2.92 | ||
Greater than 0.5% and Less than 1.0% | 40 | 10.61 | ||
Greater than 0.0% and Less than 0.5% | 100 | 26.53 | ||
At NAV | 3 | 0.80 | ||
Less than 0.0% and Greater than -0.5% | 114 | 30.23 | ||
Less than -0.5% and Greater than -1.0% | 53 | 14.05 | ||
Less than -1.0% and Greater than -1.5% | 18 | 4.77 | ||
Less than -1.5% and Greater than -2.0% | 12 | 3.18 | ||
Less than -2.0% and Greater than -2.5% | 4 | 1.06 | ||
Less than -2.5% and Greater than -3.0% | 4 | 1.06 | ||
Less than -3.0% and Greater than -3.5% | 2 | 0.53 | ||
Less than -3.5% and Greater than -4.0% | 1 | 0.27 | ||
Less than -4.0% and Greater than -4.5% | 2 | 0.53 | ||
Less than -4.5% and Greater than -5.0% | 3 | 0.80 | ||
Less than -6.0% | 2 | 0.53 | ||
377 | 100.00% |
Average Annual Total Returns | Cumulative Total Returns | ||||||
1 Year | 5 Years | 10 Years | 1 Year | 5 Years | 10 Years | ||
Fund NAV | (31.41)% | (3.11)% | 0.26% | (31.41)% | (14.62)% | 2.61% | |
Fund Market | (31.77) | (3.42) | 0.10 | (31.77) | (15.96) | 1.05 | |
Index | (31.34) | (2.20) | 0.98 | (31.34) | (10.53) | 10.30 |
Index performance through April 2, 2017 is calculated using the INR-USD reference rate as published by the RBI. Index performance beginning on April 3, 2017 is calculated using FX rates corresponding to World Market Reuters 4:00 P.M. London. |
Call: |
1-800-iShares
or 1-800-474-2737 (toll free)
Monday through Friday, 8:30 a.m. to 6:30 p.m. (Eastern time) |
Email: | iSharesETFs@blackrock.com |
Write: |
c/o
BlackRock Investments, LLC
1 University Square Drive, Princeton, NJ 08540 |
July 31, 2020 | |
2020 Prospectus |
• |
iShares International
Developed Property ETF | WPS | NYSE ARCA
|
|
S-1 |
|
1 |
|
2 |
|
17 |
|
18 |
|
19 |
|
22 |
|
31 |
|
32 |
|
33 |
|
33 |
|
36 |
Ticker: WPS | Stock Exchange: NYSE Arca |
1 | The amount rounded to 0.00%. |
1 Year | 3 Years | 5 Years | 10 Years | |||
$49 | $154 | $269 | $604 |
1 | The Fund’s year-to-date return as of June 30, 2020 was -20.75%. |
One Year | Five Years | Ten Years | |||
(Inception Date: 7/30/2007) | |||||
Return Before Taxes | 20.29% | 6.11% | 7.34% | ||
Return After Taxes on Distributions2 | 17.62% | 4.50% | 5.86% | ||
Return After Taxes on Distributions and Sale of Fund Shares2 | 12.53% | 4.22% | 5.40% | ||
S&P Developed Ex-U.S. Property IndexTM (Index returns do not reflect deductions for fees, expenses, or taxes) | 20.61% | 6.17% | 7.47% |
2 | After-tax returns in the table above are calculated using the historical highest individual U.S. federal marginal income tax rates and do not reflect the impact of state or local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown, and after-tax returns shown are not relevant to tax-exempt investors or investors who hold shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts (“IRAs”). Fund returns after taxes on distributions and sales of Fund shares are calculated assuming that an investor has sufficient capital gains of the same character from other investments to offset any capital losses from the sale of Fund shares. As a result, Fund returns after taxes on distributions and sales of Fund shares may exceed Fund returns before taxes and/or returns after taxes on distributions. |
■ | General Impact. This outbreak has resulted in travel restrictions, closed international borders, enhanced health screenings at ports of entry and elsewhere, disruption of and delays in healthcare service preparation and delivery, prolonged quarantines, cancellations, supply chain disruptions, lower consumer demand, temporary closures of stores, restaurants and other commercial establishments, layoffs, defaults and other significant economic impacts, as well as general concern and uncertainty. |
■ | Market Volatility. The outbreak has also resulted in extreme volatility, severe losses, and disruptions in markets which can adversely impact the Fund and its investments, including impairing hedging activity to the extent a Fund engages in such activity, as expected correlations between related markets or instruments may no longer apply. In addition, to the extent the Fund invests in short-term instruments that have negative yields, the Fund’s value may be impaired as a result. Certain issuers of equity securities have cancelled or announced the suspension of dividends. The outbreak has, and may continue to, negatively affect the credit ratings of some fixed income securities and their issuers. |
■ | Market Closures. Certain local markets have been or may be subject to closures, and there can be no assurance that trading will continue in any local markets in which the Fund may invest, when any resumption of trading will occur or, once such markets resume trading, whether they will face further closures. Any suspension of |
trading in markets in which the Fund invests will have an impact on the Fund and its investments and will impact the Fund’s ability to purchase or sell securities in such markets. | |
■ | Operational Risk. The outbreak could also impair the information technology and other operational systems upon which the Fund’s service providers, including BFA, rely, and could otherwise disrupt the ability of employees of the Fund’s service providers to perform critical tasks relating to the Fund, for example, due to the service providers’ employees performing tasks in alternate locations than under normal operating conditions or the illness of certain employees of the Fund’s service providers. |
■ | Governmental Interventions. Governmental and quasi-governmental authorities and regulators throughout the world have responded to the outbreak and the resulting economic disruptions with a variety of fiscal and monetary policy changes, including direct capital infusions into companies and other issuers, new monetary policy tools, and lower interest rates. An unexpected or sudden reversal of these policies, or the ineffectiveness of such policies, is likely to increase market volatility, which could adversely affect the Fund’s investments. |
■ | Pre-Existing Conditions. Public health crises caused by the outbreak may exacerbate other pre-existing political, social and economic risks in certain countries or globally. |
■ | A lack of market liquidity and market efficiency; |
■ | Greater securities price volatility; |
■ | Exchange rate fluctuations and exchange controls; |
■ | Less availability of public information about issuers; |
■ | Limitations on foreign ownership of securities; |
■ | Imposition of withholding or other taxes; |
■ | Imposition of restrictions on the expatriation of the funds or other assets of the Fund; |
■ | Higher transaction and custody costs and delays in settlement procedures; |
■ | Difficulties in enforcing contractual obligations; |
■ | Lower levels of regulation of the securities markets; |
■ | Weaker accounting, disclosure and reporting requirements; and |
■ | Legal principles relating to corporate governance, directors’ fiduciary duties and liabilities and stockholders’ rights in markets in which the Fund invests may differ from and/or may not be as extensive or protective as those that apply in the U.S. |
Approximate
Value of a Creation Unit |
Creation
Unit Size |
Standard
Creation/ Redemption Transaction Fee |
Maximum
Additional
Charge for Creations* |
Maximum
Additional
Charge for Redemptions* |
||||
$2,964,000 | 100,000 | $4,500 | 7.0% | 2.0% |
* | As a percentage of the net asset value per Creation Unit, inclusive, in the case of redemptions, of the standard redemption transaction fee. |
iShares International Developed Property ETF | |||||||||
Year
Ended
03/31/20 |
Year
Ended
03/31/19 |
Year
Ended
03/31/18 |
Year
Ended
03/31/17 |
Year
Ended
03/31/16 |
|||||
Net asset value, beginning of year | $ 38.79 | $ 38.95 | $ 35.50 | $ 36.74 | $ 38.14 | ||||
Net investment income(a) | 1.14 | 1.19 | 1.17 | 1.09 | 0.95 | ||||
Net realized and unrealized gain (loss)(b) | (9.31) | 0.23 | 3.96 | (0.43) | (1.17) | ||||
Net increase (decrease) from investment operations | (8.17) | 1.42 | 5.13 | 0.66 | (0.22) | ||||
Distributions (c) | |||||||||
From net investment income | (2.65) | (1.58) | (1.68) | (1.87) | (1.18) | ||||
Return of capital | — | — | — | (0.03) | — | ||||
Total distributions | (2.65) | (1.58) | (1.68) | (1.90) | (1.18) | ||||
Net asset value, end of year | $ 27.97 | $ 38.79 | $ 38.95 | $ 35.50 | $ 36.74 | ||||
Total Return | |||||||||
Based on net asset value | (22.52)% | 3.91% | 14.58% | 1.97% | (0.47)% | ||||
Ratios to Average Net Assets | |||||||||
Total expenses | 0.48% | 0.48% | 0.48% | 0.48% | 0.48% | ||||
Net investment income | 3.01% | 3.16% | 3.04% | 3.00% | 2.60% | ||||
Supplemental Data | |||||||||
Net assets, end of year (000) | $78,329 | $131,871 | $155,780 | $131,339 | $146,966 | ||||
Portfolio turnover rate(d) | 8% | 9% | 11% | 8% | 15% | ||||
(a) Based on average shares outstanding. |
|||||||||
(b) The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share transactions in relation to the fluctuating market values of the Fund’s underlying securities. | |||||||||
(c) Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | |||||||||
(d) Portfolio turnover rate excludes in-kind transactions. |
Premium/Discount Range | Number of Days | Percentage of Total Days | ||
Greater than 2.5% and Less than 3.0% | 1 | 0.27% | ||
Greater than 2.0% and Less than 2.5% | 1 | 0.27 | ||
Greater than 1.5% and Less than 2.0% | 2 | 0.53 | ||
Greater than 1.0% and Less than 1.5% | 2 | 0.53 | ||
Greater than 0.5% and Less than 1.0% | 15 | 3.98 | ||
Greater than 0.0% and Less than 0.5% | 95 | 25.19 | ||
At NAV | 5 | 1.33 | ||
Less than 0.0% and Greater than -0.5% | 190 | 50.39 | ||
Less than -0.5% and Greater than -1.0% | 47 | 12.46 | ||
Less than -1.0% and Greater than -1.5% | 12 | 3.18 | ||
Less than -1.5% and Greater than -2.0% | 3 | 0.80 | ||
Less than -2.0% and Greater than -2.5% | 2 | 0.53 | ||
Less than -2.5% and Greater than -3.0% | 1 | 0.27 | ||
Less than -3.0% and Greater than -3.5% | 1 | 0.27 | ||
377 | 100.00% |
Average Annual Total Returns | Cumulative Total Returns | ||||||
1 Year | 5 Years | 10 Years | 1 Year | 5 Years | 10 Years | ||
Fund NAV | (22.52)% | (1.31)% | 3.92% | (22.52)% | (6.38)% | 46.90% | |
Fund Market | (22.78) | (1.35) | 3.85 | (22.78) | (6.57) | 45.90 | |
Index | (22.38) | (1.27) | 4.03 | (22.38) | (6.20) | 48.43 |
Call: |
1-800-iShares
or 1-800-474-2737 (toll free)
Monday through Friday, 8:30 a.m. to 6:30 p.m. (Eastern time) |
Email: | iSharesETFs@blackrock.com |
Write: |
c/o
BlackRock Investments, LLC
1 University Square Drive, Princeton, NJ 08540 |
July 31, 2020 | |
2020 Prospectus |
• |
iShares International
Dividend Growth ETF | IGRO | CBOE BZX
|
|
S-1 |
|
1 |
|
2 |
|
16 |
|
22 |
|
22 |
|
25 |
|
35 |
|
36 |
|
37 |
|
37 |
|
39 |
Ticker: IGRO | Stock Exchange: Cboe BZX |
1 | The amount rounded to 0.00%. |
1 Year | 3 Years | 5 Years | 10 Years | |||
$23 | $71 | $124 | $280 |
1 | The Fund’s year-to-date return as of June 30, 2020 was -12.35%. |
One Year |
Since
Fund
Inception |
||
(Inception Date: 5/17/2016) | |||
Return Before Taxes | 25.82% | 8.94% | |
Return After Taxes on Distributions1 | 25.28% | 8.46% | |
Return After Taxes on Distributions and Sale of Fund Shares1 | 16.10% | 7.09% | |
Morningstar ® Global ex-US Dividend Growth IndexSM (Index returns do not reflect deductions for fees, expenses, or taxes) | 25.81% | 8.90% |
1 | After-tax returns in the table above are calculated using the historical highest individual U.S. federal marginal income tax rates and do not reflect the impact of state or local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown, and after-tax returns shown are not relevant to tax-exempt investors or investors who hold shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts (“IRAs”). Fund returns after taxes on distributions and sales of Fund shares are calculated assuming that an investor has sufficient capital gains of the same character from other investments to offset any capital losses from the sale of Fund shares. As a result, Fund returns after taxes on distributions and sales of Fund shares may exceed Fund returns before taxes and/or returns after taxes on distributions. |
■ | General Impact. This outbreak has resulted in travel restrictions, closed international borders, enhanced health screenings at ports of entry and elsewhere, disruption of and delays in healthcare service preparation and delivery, prolonged quarantines, cancellations, supply chain disruptions, lower consumer demand, temporary closures of stores, restaurants and other commercial establishments, layoffs, defaults and other significant economic impacts, as well as general concern and uncertainty. |
■ | Market Volatility. The outbreak has also resulted in extreme volatility, severe losses, and disruptions in markets which can adversely impact the Fund and its investments, including impairing hedging activity to the extent a Fund engages in such activity, as expected correlations between related markets or instruments may no longer apply. In addition, to the extent the Fund invests in short-term instruments that have negative yields, the Fund’s value may be impaired as a result. Certain issuers of equity securities have cancelled or announced the suspension of dividends. The outbreak has, and may continue to, negatively affect the credit ratings of some fixed income securities and their issuers. |
■ | Market Closures. Certain local markets have been or may be subject to closures, and there can be no assurance that trading will continue in any local markets in which the Fund may invest, when any resumption of trading will occur or, once such markets resume trading, whether they will face further closures. Any suspension of trading in markets in which the Fund invests will have an impact on the Fund and its investments and will impact the Fund’s ability to purchase or sell securities in such markets. |
■ | Operational Risk. The outbreak could also impair the information technology and |
■ | Governmental Interventions. Governmental and quasi-governmental authorities and regulators throughout the world have responded to the outbreak and the resulting economic disruptions with a variety of fiscal and monetary policy changes, including direct capital infusions into companies and other issuers, new monetary policy tools, and lower interest rates. An unexpected or sudden reversal of these policies, or the ineffectiveness of such policies, is likely to increase market volatility, which could adversely affect the Fund’s investments. |
■ | Pre-Existing Conditions. Public health crises caused by the outbreak may exacerbate other pre-existing political, social and economic risks in certain countries or globally. |
■ | A lack of market liquidity and market efficiency; |
■ | Greater securities price volatility; |
■ | Exchange rate fluctuations and exchange controls; |
■ | Less availability of public information about issuers; |
■ | Limitations on foreign ownership of securities; |
■ | Imposition of withholding or other taxes; |
■ | Imposition of restrictions on the expatriation of the funds or other assets of the Fund; |
■ | Higher transaction and custody costs and delays in settlement procedures; |
■ | Difficulties in enforcing contractual obligations; |
■ | Lower levels of regulation of the securities markets; |
■ | Weaker accounting, disclosure and reporting requirements; and |
■ | Legal principles relating to corporate governance, directors’ fiduciary duties and liabilities and stockholders’ rights in markets in which the Fund invests may differ from and/or may not be as extensive or protective as those that apply in the U.S. |
■ | The risk of delays in settling portfolio transactions and the risk of loss arising out of the system of share registration and custody used in Russia; |
■ | Risks in connection with the maintenance of the Fund’s portfolio securities and cash with foreign sub-custodians and securities depositories, including the risk that appropriate sub-custody arrangements will not be available to the Fund; |
■ | The risk that the Fund’s ownership rights in portfolio securities could be lost through |
■ | The risk that the Fund may not be able to pursue claims on behalf of its shareholders because of the system of share registration and custody, and because Russian banking institutions and registrars are not guaranteed by the Russian government; and |
■ | The risk that various responses by other nation-states to alleged Russian cyber activity will impact Russia’s economy and Russian issuers of securities in which the Fund invests. |
Approximate
Value of a Creation Unit |
Creation
Unit Size |
Standard
Creation/ Redemption Transaction Fee |
Maximum
Additional
Charge for Creations* |
Maximum
Additional
Charge for Redemptions* |
||||
$2,435,000 | 50,000 | $8,400 | 7.0% | 2.0% |
* | As a percentage of the net asset value per Creation Unit, inclusive, in the case of redemptions, of the standard redemption transaction fee. |
iShares International Dividend Growth ETF | |||||||
Year
Ended
03/31/20 |
Year
Ended
03/31/19 |
Year
Ended
03/31/18 |
Period
From
05/17/16(a) to 03/31/17 |
||||
Net asset value, beginning of period | $ 53.81 | $ 56.40 | $ 51.23 | $ 48.33 | |||
Net investment income(b) | 1.56 | 1.51 | 1.27 | 1.09 | |||
Net realized and unrealized gain (loss)(c) | (8.24) | (2.58) | 5.31 | 2.70 | |||
Net increase (decrease) from investment operations | (6.68) | (1.07) | 6.58 | 3.79 | |||
Distributions (d) | |||||||
From net investment income | (1.62) | (1.52) | (1.41) | (0.89) | |||
Total distributions | (1.62) | (1.52) | (1.41) | (0.89) | |||
Net asset value, end of period | $ 45.51 | $ 53.81 | $ 56.40 | $ 51.23 | |||
Total Return | |||||||
Based on net asset value | (12.75)% | (1.88)% | 12.93% | 7.92% (e) | |||
Ratios to Average Net Assets | |||||||
Total expenses | 0.22% | 0.22% | 0.22% | 0.22% (f) | |||
Net investment income | 2.81% | 2.80% | 2.26% | 2.56% (f) | |||
Supplemental Data | |||||||
Net assets, end of period (000) | $79,644 | $75,329 | $56,397 | $20,490 | |||
Portfolio turnover rate(g) | 35% | 34% | 42% | 42% (e) | |||
(a) Commencement of operations. |
|||||||
(b) Based on average shares outstanding. | |||||||
(c) The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share transactions in relation to the fluctuating market values of the Fund’s underlying securities. | |||||||
(d) Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | |||||||
(e) Not annualized. | |||||||
(f) Annualized. | |||||||
(g) Portfolio turnover rate excludes in-kind transactions. |
Premium/Discount Range | Number of Days | Percentage of Total Days | ||
Greater than 3.0% and Less than 3.5% | 1 | 0.27% | ||
Greater than 2.0% and Less than 2.5% | 1 | 0.27 | ||
Greater than 1.0% and Less than 1.5% | 30 | 7.96 | ||
Greater than 0.5% and Less than 1.0% | 116 | 30.76 | ||
Greater than 0.0% and Less than 0.5% | 139 | 36.86 | ||
At NAV | 1 | 0.27 | ||
Less than 0.0% and Greater than -0.5% | 49 | 12.99 | ||
Less than -0.5% and Greater than -1.0% | 22 | 5.84 | ||
Less than -1.0% and Greater than -1.5% | 13 | 3.45 | ||
Less than -1.5% and Greater than -2.0% | 3 | 0.80 | ||
Less than -2.0% and Greater than -2.5% | 2 | 0.53 | ||
377 | 100.00% |
Average Annual Total Returns | Cumulative Total Returns | ||||
1 Year |
Since
Inception |
1 Year |
Since
Inception |
||
Fund NAV | (12.75)% | 1.10% | (12.75)% | 4.33% | |
Fund Market | (13.80) | 0.94 | (13.80) | 3.69 | |
Index | (12.73) | 1.06 | (12.73) | 4.18 |
Total returns for the period since inception are calculated from the inception date of the Fund (5/17/16). The first day of secondary market trading in shares of the Fund was 5/19/16. |
Call: |
1-800-iShares
or 1-800-474-2737 (toll free)
Monday through Friday, 8:30 a.m. to 6:30 p.m. (Eastern time) |
Email: | iSharesETFs@blackrock.com |
Write: |
c/o
BlackRock Investments, LLC
1 University Square Drive, Princeton, NJ 08540 |
July 31, 2020 | |
2020 Prospectus |
• |
iShares International
Preferred Stock ETF | IPFF | CBOE BZX
|
|
S-1 |
|
1 |
|
2 |
|
14 |
|
20 |
|
20 |
|
23 |
|
33 |
|
34 |
|
35 |
|
35 |
|
38 |
Ticker: IPFF | Stock Exchange: Cboe BZX |
1 | The amount rounded to 0.00%. |
1 Year | 3 Years | 5 Years | 10 Years | |||
$56 | $176 | $307 | $689 |
1 | The Fund’s year-to-date return as of June 30, 2020 was -17.36%. |
One Year | Five Years |
Since
Fund
Inception |
|||
(Inception Date: 11/15/2011) | |||||
Return Before Taxes | 6.70% | -2.85% | -1.23% | ||
Return After Taxes on Distributions1 | 6.07% | -3.47% | -1.83% | ||
Return After Taxes on Distributions and Sale of Fund Shares1 | 5.20% | -1.77% | -0.44% | ||
S&P International Preferred Stock IndexTM (Index returns do not reflect deductions for fees, expenses, or taxes) | 6.72% | -2.65% | -0.88% |
1 | After-tax returns in the table above are calculated using the historical highest individual U.S. federal marginal income tax rates and do not reflect the impact of state or local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown, and after-tax returns shown are not relevant to tax-exempt investors or investors who hold shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts (“IRAs”). Fund returns after taxes on distributions and sales of Fund shares are calculated assuming that an investor has sufficient capital gains of the same character from other investments to offset any capital losses from the sale of Fund shares. As a result, Fund returns after taxes on distributions and sales of Fund shares may exceed Fund returns before taxes and/or returns after taxes on distributions. |
■ | General Impact. This outbreak has resulted in travel restrictions, closed international borders, enhanced health screenings at ports of entry and elsewhere, disruption of and delays in healthcare service preparation and delivery, prolonged quarantines, cancellations, supply chain disruptions, lower consumer demand, temporary closures of stores, restaurants and other commercial establishments, layoffs, defaults and other significant economic impacts, as well as general concern and uncertainty. |
■ | Market Volatility. The outbreak has also resulted in extreme volatility, severe losses, and disruptions in markets which can adversely impact the Fund and its investments, including impairing hedging activity to the extent a Fund engages in such activity, as expected correlations between related markets or instruments may no longer apply. In addition, to the extent the Fund invests in short-term instruments that have negative yields, the Fund’s value may be impaired as a result. Certain issuers of equity securities have cancelled or announced the suspension of dividends. The outbreak has, and may continue to, negatively affect the credit ratings of some fixed income securities and their issuers. |
■ | Market Closures. Certain local markets have been or may be subject to closures, and there can be no assurance that trading will continue in any local markets in which the Fund may invest, when any resumption of trading will occur or, once such markets resume trading, whether they will face further closures. Any suspension of trading in markets in which the Fund invests will have an impact on the Fund and its investments and will impact the Fund’s ability to purchase or sell securities in such markets. |
■ | Operational Risk. The outbreak could also impair the information technology and other operational systems upon which the Fund’s service providers, including BFA, rely, and could otherwise disrupt the ability of employees of the Fund’s service providers to perform critical tasks relating to the Fund, for example, due to the |
service providers’ employees performing tasks in alternate locations than under normal operating conditions or the illness of certain employees of the Fund’s service providers. | |
■ | Governmental Interventions. Governmental and quasi-governmental authorities and regulators throughout the world have responded to the outbreak and the resulting economic disruptions with a variety of fiscal and monetary policy changes, including direct capital infusions into companies and other issuers, new monetary policy tools, and lower interest rates. An unexpected or sudden reversal of these policies, or the ineffectiveness of such policies, is likely to increase market volatility, which could adversely affect the Fund’s investments. |
■ | Pre-Existing Conditions. Public health crises caused by the outbreak may exacerbate other pre-existing political, social and economic risks in certain countries or globally. |
■ | A lack of market liquidity and market efficiency; |
■ | Greater securities price volatility; |
■ | Exchange rate fluctuations and exchange controls; |
■ | Less availability of public information about issuers; |
■ | Limitations on foreign ownership of securities; |
■ | Imposition of withholding or other taxes; |
■ | Imposition of restrictions on the expatriation of the funds or other assets of the Fund; |
■ | Higher transaction and custody costs and delays in settlement procedures; |
■ | Difficulties in enforcing contractual obligations; |
■ | Lower levels of regulation of the securities markets; |
■ | Weaker accounting, disclosure and reporting requirements; and |
■ | Legal principles relating to corporate governance, directors’ fiduciary duties and liabilities and stockholders’ rights in markets in which the Fund invests may differ from and/or may not be as extensive or protective as those that apply in the U.S. |
Approximate
Value of a Creation Unit |
Creation
Unit Size |
Standard
Creation/ Redemption Transaction Fee |
Maximum
Additional
Charge for Creations* |
Maximum
Additional
Charge for Redemptions* |
||||
$608,000 | 50,000 | $700 | 3.0% | 2.0% |
* | As a percentage of the net asset value per Creation Unit, inclusive, in the case of redemptions, of the standard redemption transaction fee. |
iShares International Preferred Stock ETF | |||||||||
Year
Ended
03/31/20 |
Year
Ended
03/31/19 |
Year
Ended
03/31/18 |
Year
Ended
03/31/17 |
Year
Ended
03/31/16 |
|||||
Net asset value, beginning of year | $ 15.51 | $ 18.18 | $ 17.10 | $ 15.97 | $ 20.32 | ||||
Net investment income(a) | 0.67 | 0.68 | 0.69 | 0.74 | 0.83 | ||||
Net realized and unrealized gain (loss)(b) | (4.87) | (2.60) | 1.03 | 1.17 | (4.20) | ||||
Net increase (decrease) from investment operations | (4.20) | (1.92) | 1.72 | 1.91 | (3.37) | ||||
Distributions (c) | |||||||||
From net investment income | (0.66) | (0.75) | (0.64) | (0.78) | (0.98) | ||||
Total distributions | (0.66) | (0.75) | (0.64) | (0.78) | (0.98) | ||||
Net asset value, end of year | $ 10.65 | $ 15.51 | $ 18.18 | $ 17.10 | $ 15.97 | ||||
Total Return | |||||||||
Based on net asset value | (28.16)% | (10.89)% | 10.16% | 12.35% | (16.73)% | ||||
Ratios to Average Net Assets | |||||||||
Total expenses | 0.55% | 0.55% | 0.55% | 0.55% | 0.55% | ||||
Net investment income | 4.52% | 3.96% | 3.78% | 4.55% | 4.56% | ||||
Supplemental Data | |||||||||
Net assets, end of year (000) | $27,163 | $44,202 | $92,728 | $62,419 | $24,756 | ||||
Portfolio turnover rate(d) | 54% | 34% | 15% | 40% | 32% | ||||
(a) Based on average shares outstanding. |
|||||||||
(b) The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share transactions in relation to the fluctuating market values of the Fund’s underlying securities. | |||||||||
(c) Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | |||||||||
(d) Portfolio turnover rate excludes in-kind transactions. |
Premium/Discount Range | Number of Days | Percentage of Total Days | ||
Greater than 1.5% and Less than 2.0% | 7 | 1.86% | ||
Greater than 1.0% and Less than 1.5% | 18 | 4.77 | ||
Greater than 0.5% and Less than 1.0% | 58 | 15.38 | ||
Greater than 0.0% and Less than 0.5% | 103 | 27.32 | ||
At NAV | 0 | 0.00 | ||
Less than 0.0% and Greater than -0.5% | 70 | 18.57 | ||
Less than -0.5% and Greater than -1.0% | 69 | 18.3 | ||
Less than -1.0% and Greater than -1.5% | 22 | 5.84 | ||
Less than -1.5% and Greater than -2.0% | 16 | 4.24 | ||
Less than -2.0% and Greater than -2.5% | 3 | 0.80 | ||
Less than -2.5% and Greater than -3.0% | 6 | 1.59 | ||
Less than -3.0% and Greater than -3.5% | 2 | 0.53 | ||
Less than -3.5% and Greater than -4.0% | 2 | 0.53 | ||
Less than -4.0% and Greater than -4.5% | 1 | 0.27 | ||
377 | 100.00% |
Average Annual Total Returns | Cumulative Total Returns | ||||||
1 Year | 5 Years |
Since
Inception |
1 Year | 5 Years |
Since
Inception |
||
Fund NAV | (28.16)% | (7.98)% | (5.42)% | (28.16)% | (34.02)% | (37.28)% | |
Fund Market | (29.53) | (8.11) | (5.62) | (29.53) | (34.50) | (38.39) | |
Index | (28.15) | (7.84) | (5.10) | (28.15) | (33.52) | (35.50) |
Total returns for the period since inception are calculated from the inception date of the Fund (11/15/11). The first day of secondary market trading in shares of the Fund was 11/17/11. |
Call: |
1-800-iShares
or 1-800-474-2737 (toll free)
Monday through Friday, 8:30 a.m. to 6:30 p.m. (Eastern time) |
Email: | iSharesETFs@blackrock.com |
Write: |
c/o
BlackRock Investments, LLC
1 University Square Drive, Princeton, NJ 08540 |
July 31, 2020 | |
2020 Prospectus |
• |
iShares JPX-Nikkei 400
ETF | JPXN | NYSE ARCA
|
|
S-1 |
|
1 |
|
2 |
|
14 |
|
17 |
|
17 |
|
20 |
|
30 |
|
31 |
|
32 |
|
32 |
|
34 |
Ticker: JPXN | Stock Exchange: NYSE Arca |
1 | The amount rounded to 0.00%. |
1 Year | 3 Years | 5 Years | 10 Years | |||
$49 | $154 | $269 | $604 |
1 | The Fund’s year-to-date return as of June 30, 2020 was -7.05%. |
One Year | Five Years | Ten Years | |||
(Inception Date: 10/23/2001) | |||||
Return Before Taxes | 19.36% | 7.54% | 6.14% | ||
Return After Taxes on Distributions1 | 18.97% | 7.28% | 5.92% | ||
Return After Taxes on Distributions and Sale of Fund Shares1 | 11.99% | 6.05% | 5.06% | ||
JPX-Nikkei Index 400 (Index returns do not reflect deductions for fees, expenses, or taxes)2 | 20.07% | 7.76% | 6.23% |
1 | After-tax returns in the table above are calculated using the historical highest individual U.S. federal marginal income tax rates and do not reflect the impact of state or local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown, and after-tax returns shown are not relevant to tax-exempt investors or investors who hold shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts (“IRAs”). Fund returns after taxes on distributions and sales of Fund shares are calculated assuming that an investor has sufficient capital gains of the same character from other investments to offset any capital losses from the sale of Fund shares in cases where the shares have decreased in value during the period. As a result, Fund returns after taxes on distributions and sales of Fund shares may exceed Fund returns before taxes and/or returns after taxes on distributions. |
2 | Index returns through September 3, 2015 reflect the performance of the S&P/TOPIX 150TM. Index returns beginning on September 4, 2015 reflect the performance of the JPX-Nikkei Index 400, which, effective as of September 4, 2015, replaced the S&P/TOPIX 150TM as the underlying index of the Fund. |
■ | General Impact. This outbreak has resulted in travel restrictions, closed international borders, enhanced health screenings at ports of entry and elsewhere, disruption of and delays in healthcare service preparation and delivery, prolonged quarantines, cancellations, supply chain disruptions, lower consumer demand, temporary closures of stores, restaurants and other commercial establishments, layoffs, defaults and other significant economic impacts, as well as general concern and uncertainty. |
■ | Market Volatility. The outbreak has also resulted in extreme volatility, severe losses, and disruptions in markets which can adversely impact the Fund and its investments, including impairing hedging activity to the extent a Fund engages in such activity, as expected correlations between related markets or instruments may no longer apply. In addition, to the extent the Fund invests in short-term instruments that have negative yields, the Fund’s value may be impaired as a result. Certain issuers of equity securities have cancelled or announced the suspension of dividends. The outbreak has, and may continue to, negatively affect the credit ratings of some fixed income securities and their issuers. |
■ | Market Closures. Certain local markets have been or may be subject to closures, and there can be no assurance that trading will continue in any local markets in which the Fund may invest, when any resumption of trading will occur or, once such markets resume trading, whether they will face further closures. Any suspension of |
trading in markets in which the Fund invests will have an impact on the Fund and its investments and will impact the Fund’s ability to purchase or sell securities in such markets. | |
■ | Operational Risk. The outbreak could also impair the information technology and other operational systems upon which the Fund’s service providers, including BFA, rely, and could otherwise disrupt the ability of employees of the Fund’s service providers to perform critical tasks relating to the Fund, for example, due to the service providers’ employees performing tasks in alternate locations than under normal operating conditions or the illness of certain employees of the Fund’s service providers. |
■ | Governmental Interventions. Governmental and quasi-governmental authorities and regulators throughout the world have responded to the outbreak and the resulting economic disruptions with a variety of fiscal and monetary policy changes, including direct capital infusions into companies and other issuers, new monetary policy tools, and lower interest rates. An unexpected or sudden reversal of these policies, or the ineffectiveness of such policies, is likely to increase market volatility, which could adversely affect the Fund’s investments. |
■ | Pre-Existing Conditions. Public health crises caused by the outbreak may exacerbate other pre-existing political, social and economic risks in certain countries or globally. |
■ | A lack of market liquidity and market efficiency; |
■ | Greater securities price volatility; |
■ | Exchange rate fluctuations and exchange controls; |
■ | Less availability of public information about issuers; |
■ | Limitations on foreign ownership of securities; |
■ | Imposition of withholding or other taxes; |
■ | Imposition of restrictions on the expatriation of the funds or other assets of the Fund; |
■ | Higher transaction and custody costs and delays in settlement procedures; |
■ | Difficulties in enforcing contractual obligations; |
■ | Lower levels of regulation of the securities markets; |
■ | Weaker accounting, disclosure and reporting requirements; and |
■ | Legal principles relating to corporate governance, directors’ fiduciary duties and liabilities and stockholders’ rights in markets in which the Fund invests may differ from and/or may not be as extensive or protective as those that apply in the U.S. |
Approximate
Value of a Creation Unit |
Creation
Unit Size |
Standard
Creation/ Redemption Transaction Fee |
Maximum
Additional
Charge for Creations* |
Maximum
Additional
Charge for Redemptions* |
||||
$8,457,000 | 150,000 | $3,000 | 3.0% | 2.0% |
* | As a percentage of the net asset value per Creation Unit, inclusive, in the case of redemptions, of the standard redemption transaction fee. |
iShares JPX-Nikkei 400 ETF | |||||||||
Year
Ended
03/31/20 |
Year
Ended
03/31/19 |
Year
Ended
03/31/18 |
Year
Ended
03/31/17 |
Year
Ended
03/31/16 |
|||||
Net asset value, beginning of year | $ 58.88 | $ 65.42 | $ 55.69 | $ 49.94 | $ 53.69 | ||||
Net investment income(a) | 0.96 | 1.06 | 0.95 | 0.70 | 0.87 | ||||
Net realized and unrealized gain (loss)(b) | (5.10) | (6.73) | 9.76 | 6.15 | (3.93) | ||||
Net increase (decrease) from investment operations | (4.14) | (5.67) | 10.71 | 6.85 | (3.06) | ||||
Distributions (c) | |||||||||
From net investment income | (1.22) | (0.87) | (0.98) | (1.10) | (0.69) | ||||
Total distributions | (1.22) | (0.87) | (0.98) | (1.10) | (0.69) | ||||
Net asset value, end of year | $ 53.52 | $ 58.88 | $ 65.42 | $ 55.69 | $ 49.94 | ||||
Total Return | |||||||||
Based on net asset value | (7.29)% | (8.67)% | 19.32% | 13.84% | (5.78)% | ||||
Ratios to Average Net Assets | |||||||||
Total expenses | 0.48% | 0.48% | 0.48% | 0.48% | 0.49% | ||||
Net investment income | 1.61% | 1.73% | 1.54% | 1.32% | 1.67% | ||||
Supplemental Data | |||||||||
Net assets, end of year (000) | $80,279 | $114,817 | $107,940 | $83,535 | $149,823 | ||||
Portfolio turnover rate(d) | 7% | 11% | 8% | 7% | 27% | ||||
(a) Based on average shares outstanding. |
|||||||||
(b) The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share transactions in relation to the fluctuating market values of the Fund’s underlying securities. | |||||||||
(c) Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | |||||||||
(d) Portfolio turnover rate excludes in-kind transactions. |
Premium/Discount Range | Number of Days | Percentage of Total Days | ||
Greater than 5.0% and Less than 5.5% | 1 | 0.27% | ||
Greater than 3.5% and Less than 4.0% | 1 | 0.27 | ||
Greater than 3.0% and Less than 3.5% | 1 | 0.27 | ||
Greater than 2.5% and Less than 3.0% | 1 | 0.27 | ||
Greater than 2.0% and Less than 2.5% | 4 | 1.06 | ||
Greater than 1.5% and Less than 2.0% | 7 | 1.86 | ||
Greater than 1.0% and Less than 1.5% | 15 | 3.98 | ||
Greater than 0.5% and Less than 1.0% | 43 | 11.40 | ||
Greater than 0.0% and Less than 0.5% | 112 | 29.70 | ||
At NAV | 2 | 0.53 | ||
Less than 0.0% and Greater than -0.5% | 94 | 24.92 | ||
Less than -0.5% and Greater than -1.0% | 50 | 13.26 | ||
Less than -1.0% and Greater than -1.5% | 19 | 5.04 | ||
Less than -1.5% and Greater than -2.0% | 10 | 2.65 | ||
Less than -2.0% and Greater than -2.5% | 8 | 2.12 | ||
Less than -2.5% and Greater than -3.0% | 4 | 1.06 | ||
Less than -3.0% and Greater than -3.5% | 2 | 0.53 | ||
Less than -3.5% and Greater than -4.0% | 1 | 0.27 | ||
Less than -4.5% and Greater than -5.0% | 1 | 0.27 | ||
Less than -6.0% | 1 | 0.27 | ||
377 | 100.00% |
Average Annual Total Returns | Cumulative Total Returns | ||||||
1 Year | 5 Years | 10 Years | 1 Year | 5 Years | 10 Years | ||
Fund NAV | (7.29)% | 1.62% | 3.38% | (7.29)% | 8.37% | 39.44% | |
Fund Market | (8.24) | 1.47 | 3.29 | (8.24) | 7.55 | 38.16 | |
Index | (7.03) | 1.98 | 3.60 | (7.03) | 10.29 | 42.37 |
Index performance through
September 3, 2015 reflects the performance of the S&P/TOPIX 150TM. Index performance beginning on September 4, 2015 reflects the performance of the
JPX-Nikkei Index 400.
|
|
Index performance through January 30, 2013 is calculated using currency exchange (FX) rates corresponding to 5:15 P.M. ET. Index performance beginning on January 31, 2013 is calculated using FX rates corresponding to World Market Reuters 4:00 P.M. London. |
Call: |
1-800-iShares
or 1-800-474-2737 (toll free)
Monday through Friday, 8:30 a.m. to 6:30 p.m. (Eastern time) |
Email: | iSharesETFs@blackrock.com |
Write: |
c/o
BlackRock Investments, LLC
1 University Square Drive, Princeton, NJ 08540 |
July 31, 2020 | |
2020 Prospectus |
• |
iShares Latin America 40
ETF | ILF | NYSE ARCA
|
|
S-1 |
|
1 |
|
2 |
|
17 |
|
21 |
|
21 |
|
24 |
|
35 |
|
36 |
|
37 |
|
37 |
|
40 |
Ticker: ILF | Stock Exchange: NYSE Arca |
1 | The amount rounded to 0.00%. |
1 Year | 3 Years | 5 Years | 10 Years | |||
$49 | $154 | $269 | $604 |
1 | The Fund’s year-to-date return as of June 30, 2020 was -36.00%. |
One Year | Five Years | Ten Years | |||
(Inception Date: 10/25/2001) | |||||
Return Before Taxes | 13.59% | 3.83% | -0.78% | ||
Return After Taxes on Distributions1 | 12.87% | 3.34% | -1.17% | ||
Return After Taxes on Distributions and Sale of Fund Shares1 | 8.74% | 3.01% | -0.41% | ||
S&P Latin America 40TM (Index returns do not reflect deductions for fees, expenses, or taxes) | 13.64% | 4.20% | -0.31% |
1 | After-tax returns in the table above are calculated using the historical highest individual U.S. federal marginal income tax rates and do not reflect the impact of state or local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown, and after-tax returns shown are not relevant to tax-exempt investors or investors who hold shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts (“IRAs”). Fund returns after taxes on distributions and sales of Fund shares are calculated assuming that an investor has sufficient capital gains of the same character from other investments to offset any capital losses from the sale of Fund shares. As a result, Fund returns after taxes on distributions and sales of Fund shares may exceed Fund returns before taxes and/or returns after taxes on distributions. |
■ | General Impact. This outbreak has resulted in travel restrictions, closed international borders, enhanced health screenings at ports of entry and elsewhere, disruption of and delays in healthcare service preparation and delivery, prolonged quarantines, cancellations, supply chain disruptions, lower consumer demand, temporary closures of stores, restaurants and other commercial establishments, layoffs, defaults and other significant economic impacts, as well as general concern and uncertainty. |
■ | Market Volatility. The outbreak has also resulted in extreme volatility, severe losses, and disruptions in markets which can adversely impact the Fund and its |
investments, including impairing hedging activity to the extent a Fund engages in such activity, as expected correlations between related markets or instruments may no longer apply. In addition, to the extent the Fund invests in short-term instruments that have negative yields, the Fund’s value may be impaired as a result. Certain issuers of equity securities have cancelled or announced the suspension of dividends. The outbreak has, and may continue to, negatively affect the credit ratings of some fixed income securities and their issuers. | |
■ | Market Closures. Certain local markets have been or may be subject to closures, and there can be no assurance that trading will continue in any local markets in which the Fund may invest, when any resumption of trading will occur or, once such markets resume trading, whether they will face further closures. Any suspension of trading in markets in which the Fund invests will have an impact on the Fund and its investments and will impact the Fund’s ability to purchase or sell securities in such markets. |
■ | Operational Risk. The outbreak could also impair the information technology and other operational systems upon which the Fund’s service providers, including BFA, rely, and could otherwise disrupt the ability of employees of the Fund’s service providers to perform critical tasks relating to the Fund, for example, due to the service providers’ employees performing tasks in alternate locations than under normal operating conditions or the illness of certain employees of the Fund’s service providers. |
■ | Governmental Interventions. Governmental and quasi-governmental authorities and regulators throughout the world have responded to the outbreak and the resulting economic disruptions with a variety of fiscal and monetary policy changes, including direct capital infusions into companies and other issuers, new monetary policy tools, and lower interest rates. An unexpected or sudden reversal of these policies, or the ineffectiveness of such policies, is likely to increase market volatility, which could adversely affect the Fund’s investments. |
■ | Pre-Existing Conditions. Public health crises caused by the outbreak may exacerbate other pre-existing political, social and economic risks in certain countries or globally. |
■ | Structural Risk. Certain Latin American countries are subject to a considerable degree of economic, political and social instability, which could adversely affect investments in the Fund. |
■ | Economic Risk. Certain Latin American countries have experienced economic instability resulting from periods of high inflation and currency devaluations. |
■ | Political and Social Risk. Certain Latin American countries have experienced periods of instability and social unrest in the past. For example, Mexico has been destabilized by local insurrections, social upheavals and drug related violence. Disparities of wealth, the pace and success of democratization and capital market development and ethnic, religious and racial disaffection may exacerbate social unrest, violence and labor unrest in a number of Latin American countries. Certain Latin American countries experience significant unemployment in certain regions, as well as widespread underemployment. |
■ | A lack of market liquidity and market efficiency; |
■ | Greater securities price volatility; |
■ | Exchange rate fluctuations and exchange controls; |
■ | Less availability of public information about issuers; |
■ | Limitations on foreign ownership of securities; |
■ | Imposition of withholding or other taxes; |
■ | Imposition of restrictions on the expatriation of the funds or other assets of the Fund; |
■ | Higher transaction and custody costs and delays in settlement procedures; |
■ | Difficulties in enforcing contractual obligations; |
■ | Lower levels of regulation of the securities markets; |
■ | Weaker accounting, disclosure and reporting requirements; and |
■ | Legal principles relating to corporate governance, directors’ fiduciary duties and liabilities and stockholders’ rights in markets in which the Fund invests may differ from and/or may not be as extensive or protective as those that apply in the U.S. |
Approximate
Value of a Creation Unit |
Creation
Unit Size |
Standard
Creation/ Redemption Transaction Fee |
Maximum
Additional
Charge for Creations* |
Maximum
Additional
Charge for Redemptions* |
||||
$4,822,500 | 250,000 | $450 | 3.0% | 2.0% |
* | As a percentage of the net asset value per Creation Unit, inclusive, in the case of redemptions, of the standard redemption transaction fee. |
iShares Latin America 40 ETF | |||||||||
Year
Ended
03/31/20 |
Year
Ended
03/31/19 |
Year
Ended
03/31/18 |
Year
Ended
03/31/17 |
Year
Ended
03/31/16 |
|||||
Net asset value, beginning of year | $ 33.24 | $ 37.28 | $ 31.58 | $ 25.23 | $ 29.37 | ||||
Net investment income(a) | 0.98 | 0.88 | 0.83 | 0.53 | 0.58 | ||||
Net realized and unrealized gain (loss)(b) | (14.83) | (3.96) | 5.49 | 6.26 | (4.03) | ||||
Net increase (decrease) from investment operations | (13.85) | (3.08) | 6.32 | 6.79 | (3.45) | ||||
Distributions (c) | |||||||||
From net investment income | (1.05) | (0.96) | (0.62) | (0.44) | (0.69) | ||||
Total distributions | (1.05) | (0.96) | (0.62) | (0.44) | (0.69) | ||||
Net asset value, end of year | $ 18.34 | $ 33.24 | $ 37.28 | $ 31.58 | $ 25.23 | ||||
Total Return | |||||||||
Based on net asset value | (43.05)% | (7.93)% | 20.38% | 27.27% | (11.70)% | ||||
Ratios to Average Net Assets | |||||||||
Total expenses | 0.48% | 0.48% | 0.48% | 0.49% | 0.49% | ||||
Net investment income | 3.08% | 2.68% | 2.43% | 1.87% | 2.27% | ||||
Supplemental Data | |||||||||
Net assets, end of year (000) | $797,877 | $1,529,164 | $1,770,599 | $1,081,491 | $674,938 | ||||
Portfolio turnover rate(d) | 22% | 20% | 16% | 13% | 18% | ||||
(a) Based on average shares outstanding. |
|||||||||
(b) The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share transactions in relation to the fluctuating market values of the Fund’s underlying securities. | |||||||||
(c) Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | |||||||||
(d) Portfolio turnover rate excludes in-kind transactions. |
Premium/Discount Range | Number of Days | Percentage of Total Days | ||
Greater than 0.5% and Less than 1.0% | 8 | 2.12% | ||
Greater than 0.0% and Less than 0.5% | 136 | 36.07 | ||
At NAV | 8 | 2.12 | ||
Less than 0.0% and Greater than -0.5% | 204 | 54.11 | ||
Less than -0.5% and Greater than -1.0% | 20 | 5.31 | ||
Less than -1.0% and Greater than -1.5% | 1 | 0.27 | ||
377 | 100.00% |
Average Annual Total Returns | Cumulative Total Returns | ||||||
1 Year | 5 Years | 10 Years | 1 Year | 5 Years | 10 Years | ||
Fund NAV | (43.05)% | (6.64)% | (6.78)% | (43.05)% | (29.07)% | (50.42)% | |
Fund Market | (43.39) | (6.75) | (6.84) | (43.39) | (29.50) | (50.78) | |
Index | (43.38) | (6.40) | (6.40) | (43.38) | (28.17) | (48.36) |
Index performance through January 30, 2013 is calculated using currency exchange (FX) rates corresponding to 5:15 P.M. ET. Index performance beginning on January 31, 2013 is calculated using FX rates corresponding to World Market Reuters 4:00 P.M. London. |
Call: |
1-800-iShares
or 1-800-474-2737 (toll free)
Monday through Friday, 8:30 a.m. to 6:30 p.m. (Eastern time) |
Email: | iSharesETFs@blackrock.com |
Write: |
c/o
BlackRock Investments, LLC
1 University Square Drive, Princeton, NJ 08540 |
July 31, 2020 | |
2020 Prospectus |
• |
iShares Micro-Cap
ETF | IWC | NYSE ARCA
|
|
S-1 |
|
1 |
|
2 |
|
11 |
|
13 |
|
13 |
|
16 |
|
25 |
|
26 |
|
27 |
|
27 |
|
29 |
Ticker: IWC | Stock Exchange: NYSE Arca |
1 | The amount rounded to 0.00%. |
1 Year | 3 Years | 5 Years | 10 Years | |||
$61 | $192 | $335 | $750 |
1 | The Fund’s year-to-date return as of June 30, 2020 was -11.49%. |
One Year | Five Years | Ten Years | |||
(Inception Date: 8/12/2005) | |||||
Return Before Taxes | 22.46% | 6.55% | 11.15% | ||
Return After Taxes on Distributions1 | 22.02% | 6.18% | 10.80% | ||
Return After Taxes on Distributions and Sale of Fund Shares1 | 13.46% | 5.02% | 9.17% | ||
Russell Microcap Index (Index returns do not reflect deductions for fees, expenses, or taxes) | 22.43% | 6.57% | 11.26% |
1 | After-tax returns in the table above are calculated using the historical highest individual U.S. federal marginal income tax rates and do not reflect the impact of state or local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown, and after-tax returns shown are not relevant to tax-exempt investors or investors who hold shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts (“IRAs”). Fund returns after taxes on distributions and sales of Fund shares are calculated assuming that an investor has sufficient capital gains of the same character from other investments to offset any capital losses from the sale of Fund shares. As a result, Fund returns after taxes on distributions and sales of Fund shares may exceed Fund returns before taxes and/or returns after taxes on distributions. |
■ | General Impact. This outbreak has resulted in travel restrictions, closed international borders, enhanced health screenings at ports of entry and elsewhere, disruption of and delays in healthcare service preparation and delivery, prolonged quarantines, cancellations, supply chain disruptions, lower consumer demand, temporary closures of stores, restaurants and other commercial establishments, layoffs, defaults and other significant economic impacts, as well as general concern and uncertainty. |
■ | Market Volatility. The outbreak has also resulted in extreme volatility, severe losses, and disruptions in markets which can adversely impact the Fund and its investments, including impairing hedging activity to the extent a Fund engages in such activity, as expected correlations between related markets or instruments may no longer apply. In addition, to the extent the Fund invests in short-term instruments that have negative yields, the Fund’s value may be impaired as a result. Certain issuers of equity securities have cancelled or announced the suspension of dividends. The outbreak has, and may continue to, negatively affect the credit ratings of some fixed income securities and their issuers. |
■ | Market Closures. Certain local markets have been or may be subject to closures, and there can be no assurance that trading will continue in any local markets in which the Fund may invest, when any resumption of trading will occur or, once such markets resume trading, whether they will face further closures. Any suspension of trading in markets in which the Fund invests will have an impact on the Fund and its investments and will impact the Fund’s ability to purchase or sell securities in such markets. |
■ | Operational Risk. The outbreak could also impair the information technology and other operational systems upon which the Fund’s service providers, including BFA, rely, and could otherwise disrupt the ability of employees of the Fund’s service providers to perform critical tasks relating to the Fund, for example, due to the service providers’ employees performing tasks in alternate locations than under normal operating conditions or the illness of certain employees of the Fund’s service providers. |
■ | Governmental Interventions. Governmental and quasi-governmental authorities and regulators throughout the world have responded to the outbreak and the resulting |
economic disruptions with a variety of fiscal and monetary policy changes, including direct capital infusions into companies and other issuers, new monetary policy tools, and lower interest rates. An unexpected or sudden reversal of these policies, or the ineffectiveness of such policies, is likely to increase market volatility, which could adversely affect the Fund’s investments. | |
■ | Pre-Existing Conditions. Public health crises caused by the outbreak may exacerbate other pre-existing political, social and economic risks in certain countries or globally. |
Approximate
Value of a Creation Unit |
Creation
Unit Size |
Standard
Creation/ Redemption Transaction Fee |
Maximum
Additional
Charge for Creations* |
Maximum
Additional
Charge for Redemptions* |
||||
$3,878,000 | 50,000 | $3,000 | 3.0% | 2.0% |
* | As a percentage of the net asset value per Creation Unit, inclusive, in the case of redemptions, of the standard redemption transaction fee. |
iShares Micro-Cap ETF | |||||||||
Year
Ended
03/31/20 |
Year
Ended
03/31/19 |
Year
Ended
03/31/18 |
Year
Ended
03/31/17 |
Year
Ended
03/31/16 |
|||||
Net asset value, beginning of year | $ 92.88 | $ 96.11 | $ 85.68 | $ 68.00 | $ 79.25 | ||||
Net investment income(a) | 0.94 | 0.89 | 0.79 | 0.85 | 0.96 | ||||
Net realized and unrealized gain (loss)(b) | (25.28) | (3.24) | 10.68 | 17.82 | (11.18) | ||||
Net increase (decrease) from investment operations | (24.34) | (2.35) | 11.47 | 18.67 | (10.22) | ||||
Distributions (c) | |||||||||
From net investment income | (1.21) | (0.88) | (1.04) | (0.99) | (1.03) | ||||
Total distributions | (1.21) | (0.88) | (1.04) | (0.99) | (1.03) | ||||
Net asset value, end of year | $ 67.33 | $ 92.88 | $ 96.11 | $ 85.68 | $ 68.00 | ||||
Total Return | |||||||||
Based on net asset value | (26.47)% | (2.48)% | 13.43% | 27.60% | (12.98)% | ||||
Ratios to Average Net Assets | |||||||||
Total expenses | 0.60% | 0.60% | 0.60% | 0.60% | 0.60% | ||||
Net investment income | 1.03% | 0.91% | 0.86% | 1.09% | 1.29% | ||||
Supplemental Data | |||||||||
Net assets, end of year (000) | $562,206 | $882,335 | $879,375 | $852,535 | $693,633 | ||||
Portfolio turnover rate(d) | 24% | 25% | 22% | 21% | 25% | ||||
(a) Based on average shares outstanding. |
|||||||||
(b) The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share transactions in relation to the fluctuating market values of the Fund’s underlying securities. | |||||||||
(c) Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | |||||||||
(d) Portfolio turnover rate excludes in-kind transactions. |
Premium/Discount Range | Number of Days | Percentage of Total Days | ||
Greater than 1.0% and Less than 1.5% | 1 | 0.27% | ||
Greater than 0.0% and Less than 0.5% | 126 | 33.42 | ||
At NAV | 12 | 3.18 | ||
Less than 0.0% and Greater than -0.5% | 231 | 61.27 | ||
Less than -0.5% and Greater than -1.0% | 5 | 1.33 | ||
Less than -1.0% and Greater than -1.5% | 2 | 0.53 | ||
377 | 100.00% |
Average Annual Total Returns | Cumulative Total Returns | ||||||
1 Year | 5 Years | 10 Years | 1 Year | 5 Years | 10 Years | ||
Fund NAV | (26.47)% | (2.02)% | 5.91% | (26.47)% | (9.69)% | 77.59% | |
Fund Market | (26.69) | (2.06) | 5.91 | (26.69) | (9.90) | 77.53 | |
Index | (26.38) | (1.94) | 6.05 | (26.38) | (9.35) | 79.90 |
Call: |
1-800-iShares
or 1-800-474-2737 (toll free)
Monday through Friday, 8:30 a.m. to 6:30 p.m. (Eastern time) |
Email: | iSharesETFs@blackrock.com |
Write: |
c/o
BlackRock Investments, LLC
1 University Square Drive, Princeton, NJ 08540 |
July 31, 2020 | |
2020 Prospectus |
• |
iShares Mortgage Real
Estate ETF | REM | CBOE BZX
|
|
S-1 |
|
1 |
|
2 |
|
13 |
|
15 |
|
15 |
|
18 |
|
27 |
|
28 |
|
29 |
|
29 |
|
31 |
Ticker: REM | Stock Exchange: Cboe BZX |
1 | The amount rounded to 0.00%. |
1 Year | 3 Years | 5 Years | 10 Years | |||
$49 | $154 | $269 | $604 |
1 | The Fund’s year-to-date return as of June 30, 2020 was -40.48%. |
One Year | Five Years | Ten Years | |||
(Inception Date: 5/1/2007) | |||||
Return Before Taxes | 21.35% | 9.08% | 8.53% | ||
Return After Taxes on Distributions1 | 18.41% | 5.78% | 4.66% | ||
Return After Taxes on Distributions and Sale of Fund Shares1 | 12.87% | 5.48% | 4.85% | ||
FTSE Nareit All Mortgage Capped Index (formerly known as FTSE NAREIT All Mortgage Capped Index) (Index returns do not reflect deductions for fees, expenses, or taxes) | 22.05% | 9.59% | 9.12% |
1 | After-tax returns in the table above are calculated using the historical highest individual U.S. federal marginal income tax rates and do not reflect the impact of state or local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown, and after-tax returns shown are not relevant to tax-exempt investors or investors who hold shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts (“IRAs”). Fund returns after taxes on distributions and sales of Fund shares are calculated assuming that an investor has sufficient capital gains of the same character from other investments to offset any capital losses from the sale of Fund shares. As a result, Fund returns after taxes on distributions and sales of Fund shares may exceed Fund returns before taxes and/or returns after taxes on distributions. |
■ | General Impact. This outbreak has resulted in travel restrictions, closed international borders, enhanced health screenings at ports of entry and elsewhere, disruption of and delays in healthcare service preparation and delivery, prolonged quarantines, cancellations, supply chain disruptions, lower consumer demand, temporary closures of stores, restaurants and other commercial establishments, layoffs, defaults and other significant economic impacts, as well as general concern and uncertainty. |
■ | Market Volatility. The outbreak has also resulted in extreme volatility, severe losses, and disruptions in markets which can adversely impact the Fund and its investments, including impairing hedging activity to the extent a Fund engages in such activity, as expected correlations between related markets or instruments may no longer apply. In addition, to the extent the Fund invests in short-term instruments that have negative yields, the Fund’s value may be impaired as a result. Certain issuers of equity securities have cancelled or announced the suspension of dividends. The outbreak has, and may continue to, negatively affect the credit ratings of some fixed income securities and their issuers. |
■ | Market Closures. Certain local markets have been or may be subject to closures, and there can be no assurance that trading will continue in any local markets in which the Fund may invest, when any resumption of trading will occur or, once such markets resume trading, whether they will face further closures. Any suspension of trading in markets in which the Fund invests will have an impact on the Fund and its investments and will impact the Fund’s ability to purchase or sell securities in such markets. |
■ | Operational Risk. The outbreak could also impair the information technology and other operational systems upon which the Fund’s service providers, including BFA, rely, and could otherwise disrupt the ability of employees of the Fund’s service providers to perform critical tasks relating to the Fund, for example, due to the |
service providers’ employees performing tasks in alternate locations than under normal operating conditions or the illness of certain employees of the Fund’s service providers. | |
■ | Governmental Interventions. Governmental and quasi-governmental authorities and regulators throughout the world have responded to the outbreak and the resulting economic disruptions with a variety of fiscal and monetary policy changes, including direct capital infusions into companies and other issuers, new monetary policy tools, and lower interest rates. An unexpected or sudden reversal of these policies, or the ineffectiveness of such policies, is likely to increase market volatility, which could adversely affect the Fund’s investments. |
■ | Pre-Existing Conditions. Public health crises caused by the outbreak may exacerbate other pre-existing political, social and economic risks in certain countries or globally. |
Approximate
Value of a Creation Unit |
Creation
Unit Size |
Standard
Creation/ Redemption Transaction Fee |
Maximum
Additional
Charge for Creations* |
Maximum
Additional
Charge for Redemptions* |
||||
$1,103,500 | 50,000 | $250 | 3.0% | 2.0% |
* | As a percentage of the net asset value per Creation Unit, inclusive, in the case of redemptions, of the standard redemption transaction fee. |
iShares Mortgage Real Estate ETF | |||||||||||
Year
Ended
03/31/20 |
Year
Ended
03/31/19 |
Year
Ended
03/31/18 |
Year
Ended
03/31/17(a) |
Period
From
05/01/15 to 03/31/16 (a)(b) |
Year
Ended
04/30/15(a) |
||||||
Net asset value, beginning of period | $ 43.32 | $ 42.48 | $ 45.34 | $ 38.68 | $ 46.46 | $ 49.85 | |||||
Net investment income(c) | 2.61 | 3.13 | 2.66 | 3.50 | 3.52 | 3.72 | |||||
Net realized and unrealized gain (loss)(d) | (23.51) | 1.52 | (1.18) | 7.34 | (6.82) | (1.11) | |||||
Net increase (decrease) from investment operations | (20.90) | 4.65 | 1.48 | 10.84 | (3.30) | 2.61 | |||||
Distributions (e) | |||||||||||
From net investment income | (2.60) | (3.08) | (3.53) | (3.53) | (3.56) | (4.76) | |||||
Return of capital | (1.15) | (0.73) | (0.81) | (0.65) | (0.92) | (1.24) | |||||
Total distributions | (3.75) | (3.81) | (4.34) | (4.18) | (4.48) | (6.00) | |||||
Net asset value, end of period | $ 18.67 | $ 43.32 | $ 42.48 | $ 45.34 | $ 38.68 | $ 46.46 | |||||
Total Return | |||||||||||
Based on net asset value | (51.80)% | 11.46% | 3.10% | 29.32% | (7.09)% (f) | 5.42% | |||||
Ratios to Average Net Assets | |||||||||||
Total expenses | 0.48% | 0.48% | 0.48% | 0.48% | 0.48% (g) | 0.48% | |||||
Net investment income | 6.16% | 7.22% | 5.82% | 8.30% | 9.31% (g) | 7.59% | |||||
Supplemental Data | |||||||||||
Net assets, end of period (000) | $593,850 | $1,252,029 | $1,004,534 | $1,246,883 | $762,513 | $1,216,004 | |||||
Portfolio turnover rate(h) | 29% | 25% | 31% | 34% | 18% (f) | 42% | |||||
(a) Per share amounts reflect a one-for-four reverse stock split effective after the close of trading on November 4, 2016. |
|||||||||||
(b) The Fund's fiscal year-end changed from April 30 to March 31. | |||||||||||
(c) Based on average shares outstanding. | |||||||||||
(d) The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share transactions in relation to the fluctuating market values of the Fund’s underlying securities. | |||||||||||
(e) Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | |||||||||||
(f) Not annualized. | |||||||||||
(g) Annualized. | |||||||||||
(h) Portfolio turnover rate excludes in-kind transactions. |
Premium/Discount Range | Number of Days | Percentage of Total Days | ||
Greater than 1.5% and Less than 2.0% | 1 | 0.27% | ||
Greater than 0.5% and Less than 1.0% | 1 | 0.27 | ||
Greater than 0.0% and Less than 0.5% | 231 | 61.27 | ||
At NAV | 30 | 7.96 | ||
Less than 0.0% and Greater than -0.5% | 114 | 30.23 | ||
377 | 100.00% |
Average Annual Total Returns | Cumulative Total Returns | ||||||
1 Year | 5 Years | 10 Years | 1 Year | 5 Years | 10 Years | ||
Fund NAV | (51.80)% | (7.93)% | (0.54)% | (51.80)% | (33.85)% | (5.31)% | |
Fund Market | (51.86) | (7.98) | (0.57) | (51.86) | (34.03) | (5.56) | |
Index | (51.73) | (7.58) | (0.05) | (51.73) | (32.59) | (0.45) |
Call: |
1-800-iShares
or 1-800-474-2737 (toll free)
Monday through Friday, 8:30 a.m. to 6:30 p.m. (Eastern time) |
Email: | iSharesETFs@blackrock.com |
Write: |
c/o
BlackRock Investments, LLC
1 University Square Drive, Princeton, NJ 08540 |
July 31, 2020 | |
2020 Prospectus |
• |
iShares Nasdaq
Biotechnology ETF | IBB | NASDAQ
|
|
S-1 |
|
1 |
|
2 |
|
10 |
|
12 |
|
13 |
|
16 |
|
25 |
|
26 |
|
27 |
|
27 |
|
29 |
Ticker: IBB | Stock Exchange: NASDAQ |
1 | The amount rounded to 0.00%. |
1 Year | 3 Years | 5 Years | 10 Years | |||
$47 | $148 | $258 | $579 |
1 | The Fund’s year-to-date return as of June 30, 2020 was 13.64%. |
One Year | Five Years | Ten Years | |||
(Inception Date: 2/5/2001) | |||||
Return Before Taxes | 24.75% | 3.74% | 16.29% | ||
Return After Taxes on Distributions1 | 24.69% | 3.70% | 16.24% | ||
Return After Taxes on Distributions and Sale of Fund Shares1 | 14.68% | 2.89% | 13.92% | ||
NASDAQ Biotechnology Index (total return)(Index returns do not reflect deductions for fees, expenses, or taxes)2 | 25.11% | 4.04% | 16.61% |
1 | After-tax returns in the table above are calculated using the historical highest individual U.S. federal marginal income tax rates and do not reflect the impact of state or local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown, and after-tax returns shown are not relevant to tax-exempt investors or investors who hold shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts (“IRAs”). Fund returns after taxes on distributions and sales of Fund shares are calculated assuming that an investor has sufficient capital gains of the same character from other investments to offset any capital losses from the sale of Fund shares. As a result, Fund returns after taxes on distributions and sales of Fund shares may exceed Fund returns before taxes and/or returns after taxes on distributions. |
2 | Index returns reflect the performance of the NASDAQ Biotechnology Index (price return) through April 2, 2014 and the NASDAQ Biotechnology Index (total return) thereafter. |
■ | General Impact. This outbreak has resulted in travel restrictions, closed international borders, enhanced health screenings at ports of entry and elsewhere, disruption of and delays in healthcare service preparation and delivery, prolonged quarantines, cancellations, supply chain disruptions, lower consumer demand, temporary |
closures of stores, restaurants and other commercial establishments, layoffs, defaults and other significant economic impacts, as well as general concern and uncertainty. | |
■ | Market Volatility. The outbreak has also resulted in extreme volatility, severe losses, and disruptions in markets which can adversely impact the Fund and its investments, including impairing hedging activity to the extent a Fund engages in such activity, as expected correlations between related markets or instruments may no longer apply. In addition, to the extent the Fund invests in short-term instruments that have negative yields, the Fund’s value may be impaired as a result. Certain issuers of equity securities have cancelled or announced the suspension of dividends. The outbreak has, and may continue to, negatively affect the credit ratings of some fixed income securities and their issuers. |
■ | Market Closures. Certain local markets have been or may be subject to closures, and there can be no assurance that trading will continue in any local markets in which the Fund may invest, when any resumption of trading will occur or, once such markets resume trading, whether they will face further closures. Any suspension of trading in markets in which the Fund invests will have an impact on the Fund and its investments and will impact the Fund’s ability to purchase or sell securities in such markets. |
■ | Operational Risk. The outbreak could also impair the information technology and other operational systems upon which the Fund’s service providers, including BFA, rely, and could otherwise disrupt the ability of employees of the Fund’s service providers to perform critical tasks relating to the Fund, for example, due to the service providers’ employees performing tasks in alternate locations than under normal operating conditions or the illness of certain employees of the Fund’s service providers. |
■ | Governmental Interventions. Governmental and quasi-governmental authorities and regulators throughout the world have responded to the outbreak and the resulting economic disruptions with a variety of fiscal and monetary policy changes, including direct capital infusions into companies and other issuers, new monetary policy tools, and lower interest rates. An unexpected or sudden reversal of these policies, or the ineffectiveness of such policies, is likely to increase market volatility, which could adversely affect the Fund’s investments. |
■ | Pre-Existing Conditions. Public health crises caused by the outbreak may exacerbate other pre-existing political, social and economic risks in certain countries or globally. |
Approximate
Value of a Creation Unit |
Creation
Unit Size |
Standard
Creation/ Redemption Transaction Fee |
Maximum
Additional
Charge for Creations* |
Maximum
Additional
Charge for Redemptions* |
||||
$6,209,000 | 50,000 | $300 | 3.0% | 2.0% |
* | As a percentage of the net asset value per Creation Unit, inclusive, in the case of redemptions, of the standard redemption transaction fee. |
iShares Nasdaq Biotechnology ETF | |||||||||
Year
Ended
03/31/20 |
Year
Ended
03/31/19 |
Year
Ended
03/31/18(a) |
Year
Ended
03/31/17(a) |
Year
Ended
03/31/16(a) |
|||||
Net asset value, beginning of year | $ 111.78 | $ 106.73 | $ 97.75 | $ 86.90 | $ 114.57 | ||||
Net investment income(b) | 0.26 | 0.16 | 0.15 | 0.21 | 0.09 | ||||
Net realized and unrealized gain (loss)(c) | (3.80) | 5.08 | 9.05 | 10.85 | (27.68) | ||||
Net increase (decrease) from investment operations | (3.54) | 5.24 | 9.20 | 11.06 | (27.59) | ||||
Distributions (d) | |||||||||
From net investment income | (0.26) | (0.19) | (0.22) | (0.21) | (0.08) | ||||
Total distributions | (0.26) | (0.19) | (0.22) | (0.21) | (0.08) | ||||
Net asset value, end of year | $ 107.98 | $ 111.78 | $ 106.73 | $ 97.75 | $ 86.90 | ||||
Total Return | |||||||||
Based on net asset value | (3.17)% | 4.92% | 9.41% | 12.75% | (24.09)% | ||||
Ratios to Average Net Assets | |||||||||
Total expenses | 0.46% | 0.47% | 0.47% | 0.47% | 0.47% | ||||
Net investment income | 0.24% | 0.15% | 0.14% | 0.22% | 0.08% | ||||
Supplemental Data | |||||||||
Net assets, end of year (000) | $6,343,965 | $8,026,142 | $9,040,121 | $8,343,317 | $6,387,032 | ||||
Portfolio turnover rate(e) | 29% | 18% | 26% | 18% | 24% | ||||
(a) Per share amounts reflect a three-for-one stock split effective after the close of trading on November 30, 2017. |
|||||||||
(b) Based on average shares outstanding. | |||||||||
(c) The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share transactions in relation to the fluctuating market values of the Fund’s underlying securities. | |||||||||
(d) Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | |||||||||
(e) Portfolio turnover rate excludes in-kind transactions. |
Premium/Discount Range | Number of Days | Percentage of Total Days | ||
Greater than 0.0% and Less than 0.5% | 118 | 31.29% | ||
At NAV | 54 | 14.32 | ||
Less than 0.0% and Greater than -0.5% | 205 | 54.39 | ||
377 | 100.00% |
Average Annual Total Returns | Cumulative Total Returns | ||||||
1 Year | 5 Years | 10 Years | 1 Year | 5 Years | 10 Years | ||
Fund NAV | (3.17)% | (0.99)% | 13.80% | (3.17)% | (4.86)% | 264.30% | |
Fund Market | (3.27) | (0.99) | 13.80 | (3.27) | (4.85) | 264.30 | |
Index | (2.84) | (0.69) | 14.11 | (2.84) | (3.42) | 274.37 |
Index performance through April 2, 2014 reflects the performance of the NASDAQ Biotechnology Index (price return). Index performance beginning on April 3, 2014 reflects the performance of the NASDAQ Biotechnology Index (total return). |
Call: |
1-800-iShares
or 1-800-474-2737 (toll free)
Monday through Friday, 8:30 a.m. to 6:30 p.m. (Eastern time) |
Email: | iSharesETFs@blackrock.com |
Write: |
c/o
BlackRock Investments, LLC
1 University Square Drive, Princeton, NJ 08540 |
July 31, 2020 | |
2020 Prospectus |
• |
iShares North American
Natural Resources ETF | IGE | CBOE BZX
|
|
S-1 |
|
1 |
|
2 |
|
12 |
|
14 |
|
14 |
|
17 |
|
27 |
|
28 |
|
29 |
|
29 |
|
32 |
Ticker: IGE | Stock Exchange: Cboe BZX |
1 | The amount rounded to 0.00%. |
1 Year | 3 Years | 5 Years | 10 Years | |||
$47 | $148 | $258 | $579 |
1 | The Fund’s year-to-date return as of June 30, 2020 was -26.56%. |
One Year | Five Years | Ten Years | |||
(Inception Date: 10/22/2001) | |||||
Return Before Taxes | 16.98% | -1.89% | 0.89% | ||
Return After Taxes on Distributions1 | 15.30% | -2.59% | 0.39% | ||
Return After Taxes on Distributions and Sale of Fund Shares1 | 10.93% | -1.46% | 0.72% | ||
S&P North American Natural Resources Sector Index (Index returns do not reflect deductions for fees, expenses, or taxes) | 17.63% | -1.41% | 1.39% |
1 | After-tax returns in the table above are calculated using the historical highest individual U.S. federal marginal income tax rates and do not reflect the impact of state or local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown, and after-tax returns shown are not relevant to tax-exempt investors or investors who hold shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts (“IRAs”). Fund returns after taxes on distributions and sales of Fund shares are calculated assuming that an investor has sufficient capital gains of the same character from other investments to offset any capital losses from the sale of Fund shares. As a result, Fund returns after taxes on distributions and sales of Fund shares may exceed Fund returns before taxes and/or returns after taxes on distributions. |
■ | General Impact. This outbreak has resulted in travel restrictions, closed international borders, enhanced health screenings at ports of entry and elsewhere, disruption of |
and delays in healthcare service preparation and delivery, prolonged quarantines, cancellations, supply chain disruptions, lower consumer demand, temporary closures of stores, restaurants and other commercial establishments, layoffs, defaults and other significant economic impacts, as well as general concern and uncertainty. | |
■ | Market Volatility. The outbreak has also resulted in extreme volatility, severe losses, and disruptions in markets which can adversely impact the Fund and its investments, including impairing hedging activity to the extent a Fund engages in such activity, as expected correlations between related markets or instruments may no longer apply. In addition, to the extent the Fund invests in short-term instruments that have negative yields, the Fund’s value may be impaired as a result. Certain issuers of equity securities have cancelled or announced the suspension of dividends. The outbreak has, and may continue to, negatively affect the credit ratings of some fixed income securities and their issuers. |
■ | Market Closures. Certain local markets have been or may be subject to closures, and there can be no assurance that trading will continue in any local markets in which the Fund may invest, when any resumption of trading will occur or, once such markets resume trading, whether they will face further closures. Any suspension of trading in markets in which the Fund invests will have an impact on the Fund and its investments and will impact the Fund’s ability to purchase or sell securities in such markets. |
■ | Operational Risk. The outbreak could also impair the information technology and other operational systems upon which the Fund’s service providers, including BFA, rely, and could otherwise disrupt the ability of employees of the Fund’s service providers to perform critical tasks relating to the Fund, for example, due to the service providers’ employees performing tasks in alternate locations than under normal operating conditions or the illness of certain employees of the Fund’s service providers. |
■ | Governmental Interventions. Governmental and quasi-governmental authorities and regulators throughout the world have responded to the outbreak and the resulting economic disruptions with a variety of fiscal and monetary policy changes, including direct capital infusions into companies and other issuers, new monetary policy tools, and lower interest rates. An unexpected or sudden reversal of these policies, or the ineffectiveness of such policies, is likely to increase market volatility, which could adversely affect the Fund’s investments. |
■ | Pre-Existing Conditions. Public health crises caused by the outbreak may exacerbate other pre-existing political, social and economic risks in certain countries or globally. |
■ | A lack of market liquidity and market efficiency; |
■ | Greater securities price volatility; |
■ | Exchange rate fluctuations and exchange controls; |
■ | Less availability of public information about issuers; |
■ | Limitations on foreign ownership of securities; |
■ | Imposition of withholding or other taxes; |
■ | Imposition of restrictions on the expatriation of the funds or other assets of the Fund; |
■ | Higher transaction and custody costs and delays in settlement procedures; |
■ | Difficulties in enforcing contractual obligations; |
■ | Lower levels of regulation of the securities markets; |
■ | Weaker accounting, disclosure and reporting requirements; and |
■ | Legal principles relating to corporate governance, directors’ fiduciary duties and liabilities and stockholders’ rights in markets in which the Fund invests may differ from and/or may not be as extensive or protective as those that apply in the U.S. |
Approximate
Value of a Creation Unit |
Creation
Unit Size |
Standard
Creation/ Redemption Transaction Fee |
Maximum
Additional
Charge for Creations* |
Maximum
Additional
Charge for Redemptions* |
||||
$1,056,500 | 50,000 | $500 | 3.0% | 2.0% |
* | As a percentage of the net asset value per Creation Unit, inclusive, in the case of redemptions, of the standard redemption transaction fee. |
iShares North American Natural Resources ETF | |||||||||||
Year
Ended
03/31/20 |
Year
Ended
03/31/19 |
Year
Ended
03/31/18 |
Year
Ended
03/31/17 |
Period
From
08/01/15 to 03/31/16 (a) |
Year
Ended
07/31/15 |
||||||
Net asset value, beginning of period | $ 31.40 | $ 33.08 | $ 34.26 | $ 29.72 | $ 33.03 | $ 48.06 | |||||
Net investment income(b) | 0.78 | 0.65 | 0.75 | 0.57 | 0.51 | 0.78 | |||||
Net realized and unrealized gain (loss)(c) | (13.82) | (1.59) | (1.16) | 4.55 | (3.16) | (15.08) | |||||
Net increase (decrease) from investment operations | (13.04) | (0.94) | (0.41) | 5.12 | (2.65) | (14.30) | |||||
Distributions (d) | |||||||||||
From net investment income | (1.71) | (0.74) | (0.77) | (0.58) | (0.66) | (0.73) | |||||
Total distributions | (1.71) | (0.74) | (0.77) | (0.58) | (0.66) | (0.73) | |||||
Net asset value, end of period | $ 16.65 | $ 31.40 | $ 33.08 | $ 34.26 | $ 29.72 | $ 33.03 | |||||
Total Return | |||||||||||
Based on net asset value | (43.54)% | (2.87)% | (1.19)% | 17.26% | (7.96)% (e) | (29.99)% | |||||
Ratios to Average Net Assets | |||||||||||
Total expenses | 0.46% | 0.46% | 0.47% | 0.48% | 0.48% (f) | 0.47% | |||||
Net investment income | 2.72% | 1.94% | 2.25% | 1.67% | 2.55% (f) | 1.96% | |||||
Supplemental Data | |||||||||||
Net assets, end of period (000) | $294,696 | $761,370 | $929,571 | $1,034,595 | $1,034,097 | $1,928,976 | |||||
Portfolio turnover rate(g) | 16% | 12% | 7% | 12% | 9% (e) | 9% | |||||
(a) The Fund's fiscal year-end changed from July 31 to March 31. |
|||||||||||
(b) Based on average shares outstanding. | |||||||||||
(c) The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share transactions in relation to the fluctuating market values of the Fund’s underlying securities. | |||||||||||
(d) Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | |||||||||||
(e) Not annualized. | |||||||||||
(f) Annualized. | |||||||||||
(g) Portfolio turnover rate excludes in-kind transactions. |
Premium/Discount Range | Number of Days | Percentage of Total Days | ||
Greater than 0.0% and Less than 0.5% | 91 | 24.13% | ||
At NAV | 50 | 13.26 | ||
Less than 0.0% and Greater than -0.5% | 236 | 62.61 | ||
377 | 100.00% |
Average Annual Total Returns | Cumulative Total Returns | ||||||
1 Year | 5 Years | 10 Years | 1 Year | 5 Years | 10 Years | ||
Fund NAV | (43.54)% | (12.35)% | (4.82)% | (43.54)% | (48.28)% | (39.01)% | |
Fund Market | (43.58) | (12.36) | (4.83) | (43.58) | (48.31) | (39.05) | |
Index | (43.21) | (11.91) | (4.35) | (43.21) | (46.94) | (35.88) |
Call: |
1-800-iShares
or 1-800-474-2737 (toll free)
Monday through Friday, 8:30 a.m. to 6:30 p.m. (Eastern time) |
Email: | iSharesETFs@blackrock.com |
Write: |
c/o
BlackRock Investments, LLC
1 University Square Drive, Princeton, NJ 08540 |
July 31, 2020 | |
2020 Prospectus |
• |
iShares North American
Tech-Multimedia Networking ETF | IGN | NYSE ARCA
|
|
S-1 |
|
1 |
|
2 |
|
10 |
|
12 |
|
12 |
|
16 |
|
25 |
|
26 |
|
27 |
|
27 |
|
30 |
Ticker: IGN | Stock Exchange: NYSE Arca |
1 | The amount rounded to 0.00%. |
1 Year | 3 Years | 5 Years | 10 Years | |||
$47 | $148 | $258 | $579 |
1 | The Fund’s year-to-date return as of June 30, 2020 was -10.13%. |
One Year | Five Years | Ten Years | |||
(Inception Date: 7/10/2001) | |||||
Return Before Taxes | 17.12% | 8.97% | 8.19% | ||
Return After Taxes on Distributions1 | 17.00% | 8.81% | 8.04% | ||
Return After Taxes on Distributions and Sale of Fund Shares1 | 10.22% | 7.07% | 6.67% | ||
S&P North American Technology Multimedia Networking Index (Index returns do not reflect deductions for fees, expenses, or taxes) | 17.62% | 9.36% | 8.55% |
1 | After-tax returns in the table above are calculated using the historical highest individual U.S. federal marginal income tax rates and do not reflect the impact of state or local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown, and after-tax returns shown are not relevant to tax-exempt investors or investors who hold shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts (“IRAs”). Fund returns after taxes on distributions and sales of Fund shares are calculated assuming that an investor has sufficient capital gains of the same character from other investments to offset any capital losses from the sale of Fund shares. As a result, Fund returns after taxes on distributions and sales of Fund shares may exceed Fund returns before taxes and/or returns after taxes on distributions. |
■ | General Impact. This outbreak has resulted in travel restrictions, closed international borders, enhanced health screenings at ports of entry and elsewhere, disruption of and delays in healthcare service preparation and delivery, prolonged quarantines, cancellations, supply chain disruptions, lower consumer demand, temporary closures of stores, restaurants and other commercial establishments, layoffs, defaults and other significant economic impacts, as well as general concern and uncertainty. |
■ | Market Volatility. The outbreak has also resulted in extreme volatility, severe losses, and disruptions in markets which can adversely impact the Fund and its investments, including impairing hedging activity to the extent a Fund engages in such activity, as expected correlations between related markets or instruments may no longer apply. In addition, to the extent the Fund invests in short-term instruments that have negative yields, the Fund’s value may be impaired as a result. Certain issuers of equity securities have cancelled or announced the suspension of dividends. The outbreak has, and may continue to, negatively affect the credit ratings of some fixed income securities and their issuers. |
■ | Market Closures. Certain local markets have been or may be subject to closures, and there can be no assurance that trading will continue in any local markets in which the Fund may invest, when any resumption of trading will occur or, once such markets resume trading, whether they will face further closures. Any suspension of trading in markets in which the Fund invests will have an impact on the Fund and its investments and will impact the Fund’s ability to purchase or sell securities in such markets. |
■ | Operational Risk. The outbreak could also impair the information technology and other operational systems upon which the Fund’s service providers, including BFA, rely, and could otherwise disrupt the ability of employees of the Fund’s service providers to perform critical tasks relating to the Fund, for example, due to the service providers’ employees performing tasks in alternate locations than under normal operating conditions or the illness of certain employees of the Fund’s service providers. |
■ | Governmental Interventions. Governmental and quasi-governmental authorities and regulators throughout the world have responded to the outbreak and the resulting economic disruptions with a variety of fiscal and monetary policy changes, including direct capital infusions into companies and other issuers, new monetary policy |
tools, and lower interest rates. An unexpected or sudden reversal of these policies, or the ineffectiveness of such policies, is likely to increase market volatility, which could adversely affect the Fund’s investments. | |
■ | Pre-Existing Conditions. Public health crises caused by the outbreak may exacerbate other pre-existing political, social and economic risks in certain countries or globally. |
Approximate
Value of a Creation Unit |
Creation
Unit Size |
Standard
Creation/ Redemption Transaction Fee |
Maximum
Additional
Charge for Creations* |
Maximum
Additional
Charge for Redemptions* |
||||
$2,479,500 | 50,000 | $250 | 3.0% | 2.0% |
* | As a percentage of the net asset value per Creation Unit, inclusive, in the case of redemptions, of the standard redemption transaction fee. |
iShares North American Tech-Multimedia Networking ETF | |||||||||||
Year
Ended
03/31/20 |
Year
Ended
03/31/19 |
Year
Ended
03/31/18 |
Year
Ended
03/31/17 |
Period
From
08/01/15 to 03/31/16 (a) |
Year
Ended
07/31/15 |
||||||
Net asset value, beginning of period | $ 56.49 | $ 51.48 | $ 45.54 | $ 36.57 | $ 39.43 | $ 34.11 | |||||
Net investment income(b) | 0.26 | 0.23 | 0.30 | 0.26 | 0.22 | 0.21 | |||||
Net realized and unrealized gain (loss)(c) | (13.10) | 5.04 | 5.95 | 8.97 | (2.80) | 5.34 | |||||
Net increase (decrease) from investment operations | (12.84) | 5.27 | 6.25 | 9.23 | (2.58) | 5.55 | |||||
Distributions (d) | |||||||||||
From net investment income | (0.31) | (0.26) | (0.31) | (0.26) | (0.28) | (0.23) | |||||
Total distributions | (0.31) | (0.26) | (0.31) | (0.26) | (0.28) | (0.23) | |||||
Net asset value, end of period | $ 43.34 | $ 56.49 | $ 51.48 | $ 45.54 | $ 36.57 | $ 39.43 | |||||
Total Return | |||||||||||
Based on net asset value | (22.80)% | 10.27% | 13.77% | 25.31% | (6.54)% (e) | 16.31% | |||||
Ratios to Average Net Assets | |||||||||||
Total expenses | 0.46% | 0.46% | 0.47% | 0.48% | 0.48% (f) | 0.47% | |||||
Net investment income | 0.47% | 0.44% | 0.63% | 0.64% | 0.92% (f) | 0.59% | |||||
Supplemental Data | |||||||||||
Net assets, end of period (000) | $43,335 | $132,758 | $64,349 | $77,417 | $53,020 | $151,791 | |||||
Portfolio turnover rate(g) | 33% | 29% | 23% | 27% | 26% (e) | 23% | |||||
(a) The Fund's fiscal year-end changed from July 31 to March 31. |
|||||||||||
(b) Based on average shares outstanding. | |||||||||||
(c) The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share transactions in relation to the fluctuating market values of the Fund’s underlying securities. | |||||||||||
(d) Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | |||||||||||
(e) Not annualized. | |||||||||||
(f) Annualized. | |||||||||||
(g) Portfolio turnover rate excludes in-kind transactions. |
Premium/Discount Range | Number of Days | Percentage of Total Days | ||
Greater than 0.0% and Less than 0.5% | 106 | 28.12% | ||
At NAV | 26 | 6.90 | ||
Less than 0.0% and Greater than -0.5% | 245 | 64.98 | ||
377 | 100.00% |
Average Annual Total Returns | Cumulative Total Returns | ||||||
1 Year | 5 Years | 10 Years | 1 Year | 5 Years | 10 Years | ||
Fund NAV | (22.80)% | 3.51% | 4.96% | (22.80)% | 18.81% | 62.33% | |
Fund Market | (22.80) | 3.51 | 4.96 | (22.80) | 18.81 | 62.27 | |
Index | (22.49) | 3.88 | 5.31 | (22.49) | 20.94 | 67.75 |
Call: |
1-800-iShares
or 1-800-474-2737 (toll free)
Monday through Friday, 8:30 a.m. to 6:30 p.m. (Eastern time) |
Email: | iSharesETFs@blackrock.com |
Write: |
c/o
BlackRock Investments, LLC
1 University Square Drive, Princeton, NJ 08540 |
July 31, 2020 | |
2020 Prospectus |
• |
iShares PHLX
Semiconductor ETF | SOXX | NASDAQ
|
|
S-1 |
|
1 |
|
2 |
|
10 |
|
15 |
|
15 |
|
19 |
|
28 |
|
29 |
|
30 |
|
30 |
|
32 |
Ticker: SOXX | Stock Exchange: NASDAQ |
1 | The amount rounded to 0.00%. |
1 Year | 3 Years | 5 Years | 10 Years | |||
$47 | $148 | $258 | $579 |
1 | The Fund’s year-to-date return as of June 30, 2020 was 8.68%. |
One Year | Five Years | Ten Years | |||
(Inception Date: 7/10/2001) | |||||
Return Before Taxes | 62.38% | 23.55% | 19.14% | ||
Return After Taxes on Distributions1 | 61.80% | 23.17% | 18.82% | ||
Return After Taxes on Distributions and Sale of Fund Shares1 | 37.20% | 19.29% | 16.39% | ||
PHLX Semiconductor Sector Index (Index returns do not reflect deductions for fees, expenses, or taxes)2 | 63.26% | 24.20% | 19.70% |
1 | After-tax returns in the table above are calculated using the historical highest individual U.S. federal marginal income tax rates and do not reflect the impact of state or local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown, and after-tax returns shown are not relevant to tax-exempt investors or investors who hold shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts (“IRAs”). Fund returns after taxes on distributions and sales of Fund shares are calculated assuming that an investor has sufficient capital gains of the same character from other investments to offset any capital losses from the sale of Fund shares. As a result, Fund returns after taxes on distributions and sales of Fund shares may exceed Fund returns before taxes and/or returns after taxes on distributions. |
2 | Index returns through October 14, 2010 reflect the performance of the S&P North American Technology-Semiconductors Index. Index returns beginning on October 15, 2010 reflect the performance of the PHLX Semiconductor Sector Index, which, effective as of October 15, 2010, replaced the S&P North American Technology-Semiconductors Index as the underlying index of the Fund. |
■ | General Impact. This outbreak has resulted in travel restrictions, closed international borders, enhanced health screenings at ports of entry and elsewhere, disruption of and delays in healthcare service preparation and delivery, prolonged quarantines, cancellations, supply chain disruptions, lower consumer demand, temporary closures of stores, restaurants and other commercial establishments, layoffs, defaults and other significant economic impacts, as well as general concern and uncertainty. |
■ | Market Volatility. The outbreak has also resulted in extreme volatility, severe losses, and disruptions in markets which can adversely impact the Fund and its investments, including impairing hedging activity to the extent a Fund engages in such activity, as expected correlations between related markets or instruments may no longer apply. In addition, to the extent the Fund invests in short-term instruments that have negative yields, the Fund’s value may be impaired as a result. Certain issuers of equity securities have cancelled or announced the suspension of dividends. The outbreak has, and may continue to, negatively affect the credit ratings of some fixed income securities and their issuers. |
■ | Market Closures. Certain local markets have been or may be subject to closures, and there can be no assurance that trading will continue in any local markets in which the Fund may invest, when any resumption of trading will occur or, once such markets resume trading, whether they will face further closures. Any suspension of trading in markets in which the Fund invests will have an impact on the Fund and its investments and will impact the Fund’s ability to purchase or sell securities in such markets. |
■ | Operational Risk. The outbreak could also impair the information technology and other operational systems upon which the Fund’s service providers, including BFA, rely, and could otherwise disrupt the ability of employees of the Fund’s service providers to perform critical tasks relating to the Fund, for example, due to the |
service providers’ employees performing tasks in alternate locations than under normal operating conditions or the illness of certain employees of the Fund’s service providers. | |
■ | Governmental Interventions. Governmental and quasi-governmental authorities and regulators throughout the world have responded to the outbreak and the resulting economic disruptions with a variety of fiscal and monetary policy changes, including direct capital infusions into companies and other issuers, new monetary policy tools, and lower interest rates. An unexpected or sudden reversal of these policies, or the ineffectiveness of such policies, is likely to increase market volatility, which could adversely affect the Fund’s investments. |
■ | Pre-Existing Conditions. Public health crises caused by the outbreak may exacerbate other pre-existing political, social and economic risks in certain countries or globally. |
■ | A lack of market liquidity and market efficiency; |
■ | Greater securities price volatility; |
■ | Exchange rate fluctuations and exchange controls; |
■ | Less availability of public information about issuers; |
■ | Limitations on foreign ownership of securities; |
■ | Imposition of withholding or other taxes; |
■ | Imposition of restrictions on the expatriation of the funds or other assets of the Fund; |
■ | Higher transaction and custody costs and delays in settlement procedures; |
■ | Difficulties in enforcing contractual obligations; |
■ | Lower levels of regulation of the securities markets; |
■ | Weaker accounting, disclosure and reporting requirements; and |
■ | Legal principles relating to corporate governance, directors’ fiduciary duties and liabilities and stockholders’ rights in markets in which the Fund invests may differ from and/or may not be as extensive or protective as those that apply in the U.S. |
Approximate
Value of a Creation Unit |
Creation
Unit Size |
Standard
Creation/ Redemption Transaction Fee |
Maximum
Additional
Charge for Creations* |
Maximum
Additional
Charge for Redemptions* |
||||
$11,743,000 | 50,000 | $250 | 3.0% | 2.0% |
* | As a percentage of the net asset value per Creation Unit, inclusive, in the case of redemptions, of the standard redemption transaction fee. |
iShares PHLX Semiconductor ETF | |||||||||||
Year
Ended
03/31/20 |
Year
Ended
03/31/19 |
Year
Ended
03/31/18 |
Year
Ended
03/31/17 |
Period
From
08/01/15 to 03/31/16 (a) |
Year
Ended
07/31/15 |
||||||
Net asset value, beginning of period | $ 189.61 | $ 180.13 | $ 136.85 | $ 91.63 | $ 87.51 | $ 82.62 | |||||
Net investment income(b) | 3.13 | 2.66 | 1.51 | 1.36 | 0.68 | 1.45 (c) | |||||
Net realized and unrealized gain(d) | 15.50 | 9.12 | 43.32 | 45.26 | 4.36 | 4.96 | |||||
Net increase from investment operations | 18.63 | 11.78 | 44.83 | 46.62 | 5.04 | 6.41 | |||||
Distributions (e) | |||||||||||
From net investment income | (3.27) | (2.30) | (1.55) | (1.40) | (0.92) | (1.52) | |||||
Total distributions | (3.27) | (2.30) | (1.55) | (1.40) | (0.92) | (1.52) | |||||
Net asset value, end of period | $ 204.97 | $ 189.61 | $ 180.13 | $ 136.85 | $ 91.63 | $ 87.51 | |||||
Total Return | |||||||||||
Based on net asset value | 9.80% | 6.61% | 32.91% | 51.20% | 5.84% (f) | 7.65% | |||||
Ratios to Average Net Assets | |||||||||||
Total expenses | 0.46% | 0.46% | 0.47% | 0.48% | 0.48% (g) | 0.47% | |||||
Net investment income | 1.42% | 1.50% | 0.93% | 1.22% | 1.19% (g) | 1.59% (c) | |||||
Supplemental Data | |||||||||||
Net assets, end of period (000) | $2,141,965 | $1,061,836 | $1,630,190 | $889,518 | $380,278 | $398,184 | |||||
Portfolio turnover rate(h) | 14% | 26% | 20% | 38% | 30% (f) | 21% | |||||
(a) The Fund's fiscal year-end changed from July 31 to March 31. |
|||||||||||
(b) Based on average shares outstanding. | |||||||||||
(c) Includes a one-time special distribution from KLA-Tencor Corp. Excluding such special distribution, the net investment income would have been $0.97 per share and 1.06% of average net assets. | |||||||||||
(d) The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share transactions in relation to the fluctuating market values of the Fund’s underlying securities. | |||||||||||
(e) Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | |||||||||||
(f) Not annualized. | |||||||||||
(g) Annualized. | |||||||||||
(h) Portfolio turnover rate excludes in-kind transactions. |
Premium/Discount Range | Number of Days | Percentage of Total Days | ||
Greater than 0.5% and Less than 1.0% | 1 | 0.27% | ||
Greater than 0.0% and Less than 0.5% | 121 | 32.10 | ||
At NAV | 107 | 28.38 | ||
Less than 0.0% and Greater than -0.5% | 147 | 38.98 | ||
Less than -0.5% and Greater than -1.0% | 1 | 0.27 | ||
377 | 100.00% |
Average Annual Total Returns | Cumulative Total Returns | ||||||
1 Year | 5 Years | 10 Years | 1 Year | 5 Years | 10 Years | ||
Fund NAV | 9.80% | 18.37% | 16.75% | 9.80% | 132.38% | 370.63% | |
Fund Market | 9.80 | 18.37 | 16.75 | 9.80 | 132.39 | 370.54 | |
Index | 10.38 | 18.99 | 17.30 | 10.38 | 138.58 | 393.00 |
Index performance through October 14, 2010 reflects the performance of the S&P North American Technology-Semiconductors Index. Index performance beginning on October 15, 2010 reflects the performance of the PHLX Semiconductor Sector Index. |
Call: |
1-800-iShares
or 1-800-474-2737 (toll free)
Monday through Friday, 8:30 a.m. to 6:30 p.m. (Eastern time) |
Email: | iSharesETFs@blackrock.com |
Write: |
c/o
BlackRock Investments, LLC
1 University Square Drive, Princeton, NJ 08540 |
July 31, 2020 | |
2020 Prospectus |
• |
iShares Preferred and
Income Securities ETF | PFF | NASDAQ
|
|
S-1 |
|
1 |
|
2 |
|
13 |
|
19 |
|
19 |
|
22 |
|
31 |
|
32 |
|
33 |
|
33 |
|
35 |
Ticker: PFF | Stock Exchange: NASDAQ |
1 | The amount rounded to 0.00%. |
1 Year | 3 Years | 5 Years | 10 Years | |||
$47 | $148 | $258 | $579 |
1 | The Fund’s year-to-date return as of June 30, 2020 was -6.07%. |
One Year | Five Years | Ten Years | |||
(Inception Date: 3/26/2007) | |||||
Return Before Taxes | 15.62% | 4.79% | 6.50% | ||
Return After Taxes on Distributions1 | 13.79% | 3.09% | 4.69% | ||
Return After Taxes on Distributions and Sale of Fund Shares1 | 9.88% | 3.29% | 4.67% | ||
S&P U.S. Preferred Stock IndexTM (Index returns do not reflect deductions for fees, expenses, or taxes)2 | 16.92% | 5.60% | 7.27% | ||
ICE Exchange-Listed Preferred & Hybrid Securities Transition Index (Index returns do not reflect deductions for fees, expenses, or taxes)2 | N/A | N/A | N/A | ||
ICE Exchange-Listed Preferred & Hybrid Securities Index (Index returns do not reflect deductions for fees, expenses, or taxes)3 | 18.48% | N/A | N/A |
1 | After-tax returns in the table above are calculated using the historical highest individual U.S. federal marginal income tax rates and do not reflect the impact of state or local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown, and after-tax returns shown are not relevant to tax-exempt investors or investors who hold shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts (“IRAs”). Fund returns after taxes on distributions and sales of Fund shares are calculated assuming that an investor has sufficient capital gains of the same character from other investments to offset any capital losses from the sale of Fund shares. As a result, Fund returns after taxes on distributions and sales of Fund shares may exceed Fund returns before taxes and/or returns after taxes on distributions. |
2 | On February 1, 2019, the Fund’s underlying index changed from the S&P U.S. Preferred Stock IndexTM to the ICE Exchange-Listed Preferred & Hybrid Securities Transition Index until October 31, 2019. The inception date of the ICE Exchange-Listed Preferred & Hybrid Securities Transition Index was November 25, 2018. |
3 | On November 1, 2019, the Fund’s underlying index changed from the ICE Exchange-Listed Preferred & Hybrid Securities Transition Index to the ICE Exchange-Listed Preferred & Hybrid Securities Index. The inception date of the ICE Exchange-Listed Preferred & Hybrid Securities Index was November 25, 2018. |
■ | General Impact. This outbreak has resulted in travel restrictions, closed international borders, enhanced health screenings at ports of entry and elsewhere, disruption of and delays in healthcare service preparation and delivery, prolonged quarantines, cancellations, supply chain disruptions, lower consumer demand, temporary closures of stores, restaurants and other commercial establishments, layoffs, defaults and other significant economic impacts, as well as general concern and uncertainty. |
■ | Market Volatility. The outbreak has also resulted in extreme volatility, severe losses, and disruptions in markets which can adversely impact the Fund and its investments, including impairing hedging activity to the extent a Fund engages in such activity, as expected correlations between related markets or instruments may no longer apply. In addition, to the extent the Fund invests in short-term instruments that have negative yields, the Fund’s value may be impaired as a result. Certain issuers of equity securities have cancelled or announced the suspension of dividends. The outbreak has, and may continue to, negatively affect the credit ratings of some fixed income securities and their issuers. |
■ | Market Closures. Certain local markets have been or may be subject to closures, and there can be no assurance that trading will continue in any local markets in which the Fund may invest, when any resumption of trading will occur or, once such markets resume trading, whether they will face further closures. Any suspension of trading in markets in which the Fund invests will have an impact on the Fund and its investments and will impact the Fund’s ability to purchase or sell securities in such markets. |
■ | Operational Risk. The outbreak could also impair the information technology and other operational systems upon which the Fund’s service providers, including BFA, rely, and could otherwise disrupt the ability of employees of the Fund’s service providers to perform critical tasks relating to the Fund, for example, due to the service providers’ employees performing tasks in alternate locations than under normal operating conditions or the illness of certain employees of the Fund’s service providers. |
■ | Governmental Interventions. Governmental and quasi-governmental authorities and regulators throughout the world have responded to the outbreak and the resulting |
economic disruptions with a variety of fiscal and monetary policy changes, including direct capital infusions into companies and other issuers, new monetary policy tools, and lower interest rates. An unexpected or sudden reversal of these policies, or the ineffectiveness of such policies, is likely to increase market volatility, which could adversely affect the Fund’s investments. | |
■ | Pre-Existing Conditions. Public health crises caused by the outbreak may exacerbate other pre-existing political, social and economic risks in certain countries or globally. |
■ | A lack of market liquidity and market efficiency; |
■ | Greater securities price volatility; |
■ | Exchange rate fluctuations and exchange controls; |
■ | Less availability of public information about issuers; |
■ | Limitations on foreign ownership of securities; |
■ | Imposition of withholding or other taxes; |
■ | Imposition of restrictions on the expatriation of the funds or other assets of the Fund; |
■ | Higher transaction and custody costs and delays in settlement procedures; |
■ | Difficulties in enforcing contractual obligations; |
■ | Lower levels of regulation of the securities markets; |
■ | Weaker accounting, disclosure and reporting requirements; and |
■ | Legal principles relating to corporate governance, directors’ fiduciary duties and liabilities and stockholders’ rights in markets in which the Fund invests may differ from and/or may not be as extensive or protective as those that apply in the U.S. |
Approximate
Value of a Creation Unit |
Creation
Unit Size |
Standard
Creation/ Redemption Transaction Fee |
Maximum
Additional
Charge for Creations* |
Maximum
Additional
Charge for Redemptions* |
||||
$1,725,500 | 50,000 | $750 | 3.0% | 2.0% |
* | As a percentage of the net asset value per Creation Unit, inclusive, in the case of redemptions, of the standard redemption transaction fee. |
Premium/Discount Range | Number of Days | Percentage of Total Days | ||
Greater than 2.0% and Less than 2.5% | 1 | 0.27% | ||
Greater than 0.5% and Less than 1.0% | 6 | 1.59 | ||
Greater than 0.0% and Less than 0.5% | 230 | 61.01 | ||
At NAV | 10 | 2.65 | ||
Less than 0.0% and Greater than -0.5% | 126 | 33.42 | ||
Less than -0.5% and Greater than -1.0% | 4 | 1.06 | ||
377 | 100.00% |
Average Annual Total Returns | Cumulative Total Returns | ||||||
1 Year | 5 Years | 10 Years | 1 Year | 5 Years | 10 Years | ||
Fund NAV | (8.90)% | 0.81% | 4.08% | (8.90)% | 4.10% | 49.13% | |
Fund Market | (8.19) | 0.98 | 4.19 | (8.19) | 4.99 | 50.68 | |
Index (a) | (8.11) | 1.56 | 4.80 | (8.11) | 8.07 | 59.88 | |
ICE Exchange-Listed Preferred & Hybrid Securities Index(b) | (7.78) | N/A | N/A | (7.78) | N/A | N/A |
(a) | Index performance through January 31, 2019 reflects the performance of the S&P U.S. Preferred Stock IndexTM. Index performance beginning on February 1, 2019 through October 31, 2019 reflects the performance of the ICE Exchange-Listed Preferred & Hybrid Securities Transition Index, which terminated on October 31, 2019. Index performance beginning on November 1, 2019 reflects the performance of the ICE Exchange-Listed Preferred & Hybrid Securities Index, which, effective as of November 1, 2019 replaced the ICE Exchange-Listed Preferred & Hybrid Securities Transition Index as the underlying index of the Fund. |
(b) | The inception date of the ICE Exchange-Listed Preferred & Hybrid Securities Index was November 25, 2018. |
Call: |
1-800-iShares
or 1-800-474-2737 (toll free)
Monday through Friday, 8:30 a.m. to 6:30 p.m. (Eastern time) |
Email: | iSharesETFs@blackrock.com |
Write: |
c/o
BlackRock Investments, LLC
1 University Square Drive, Princeton, NJ 08540 |
July 31, 2020 | |
2020 Prospectus |
• |
iShares Residential Real
Estate ETF | REZ | NYSE ARCA
|
|
S-1 |
|
1 |
|
2 |
|
12 |
|
13 |
|
14 |
|
17 |
|
26 |
|
27 |
|
28 |
|
28 |
|
30 |
Ticker: REZ | Stock Exchange: NYSE Arca |
1 | The amount rounded to 0.00%. |
1 Year | 3 Years | 5 Years | 10 Years | |||
$49 | $154 | $269 | $604 |
1 | The Fund’s year-to-date return as of June 30, 2020 was -18.92%. |
One Year | Five Years | Ten Years | |||
(Inception Date: 5/1/2007) | |||||
Return Before Taxes | 24.49% | 9.12% | 13.31% | ||
Return After Taxes on Distributions1 | 23.25% | 7.51% | 11.77% | ||
Return After Taxes on Distributions and Sale of Fund Shares1 | 14.72% | 6.40% | 10.28% | ||
FTSE Nareit All Residential Capped Index (formerly known as FTSE NAREIT All Residential Capped Index) (Index returns do not reflect deductions for fees, expenses, or taxes) | 25.02% | 9.50% | 13.78% |
1 | After-tax returns in the table above are calculated using the historical highest individual U.S. federal marginal income tax rates and do not reflect the impact of state or local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown, and after-tax returns shown are not relevant to tax-exempt investors or investors who hold shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts (“IRAs”). Fund returns after taxes on distributions and sales of Fund shares are calculated assuming that an investor has sufficient capital gains of the same character from other investments to offset any capital losses from the sale of Fund shares. As a result, Fund returns after taxes on distributions and sales of Fund shares may exceed Fund returns before taxes and/or returns after taxes on distributions. |
■ | General Impact. This outbreak has resulted in travel restrictions, closed international borders, enhanced health screenings at ports of entry and elsewhere, disruption of and delays in healthcare service preparation and delivery, prolonged quarantines, cancellations, supply chain disruptions, lower consumer demand, temporary closures of stores, restaurants and other commercial establishments, layoffs, defaults and other significant economic impacts, as well as general concern and uncertainty. |
■ | Market Volatility. The outbreak has also resulted in extreme volatility, severe losses, and disruptions in markets which can adversely impact the Fund and its investments, including impairing hedging activity to the extent a Fund engages in such activity, as expected correlations between related markets or instruments may no longer apply. In addition, to the extent the Fund invests in short-term instruments that have negative yields, the Fund’s value may be impaired as a result. Certain issuers of equity securities have cancelled or announced the suspension of dividends. The outbreak has, and may continue to, negatively affect the credit ratings of some fixed income securities and their issuers. |
■ | Market Closures. Certain local markets have been or may be subject to closures, and there can be no assurance that trading will continue in any local markets in which the Fund may invest, when any resumption of trading will occur or, once such markets resume trading, whether they will face further closures. Any suspension of trading in markets in which the Fund invests will have an impact on the Fund and its investments and will impact the Fund’s ability to purchase or sell securities in such markets. |
■ | Operational Risk. The outbreak could also impair the information technology and other operational systems upon which the Fund’s service providers, including BFA, rely, and could otherwise disrupt the ability of employees of the Fund’s service providers to perform critical tasks relating to the Fund, for example, due to the |
service providers’ employees performing tasks in alternate locations than under normal operating conditions or the illness of certain employees of the Fund’s service providers. | |
■ | Governmental Interventions. Governmental and quasi-governmental authorities and regulators throughout the world have responded to the outbreak and the resulting economic disruptions with a variety of fiscal and monetary policy changes, including direct capital infusions into companies and other issuers, new monetary policy tools, and lower interest rates. An unexpected or sudden reversal of these policies, or the ineffectiveness of such policies, is likely to increase market volatility, which could adversely affect the Fund’s investments. |
■ | Pre-Existing Conditions. Public health crises caused by the outbreak may exacerbate other pre-existing political, social and economic risks in certain countries or globally. |
Approximate
Value of a Creation Unit |
Creation
Unit Size |
Standard
Creation/ Redemption Transaction Fee |
Maximum
Additional
Charge for Creations* |
Maximum
Additional
Charge for Redemptions* |
||||
$2,927,000 | 50,000 | $250 | 3.0% | 2.0% |
* | As a percentage of the net asset value per Creation Unit, inclusive, in the case of redemptions, of the standard redemption transaction fee. |
iShares Residential Real Estate ETF | |||||||||||
Year
Ended
03/31/20 |
Year
Ended
03/31/19 |
Year
Ended
03/31/18 |
Year
Ended
03/31/17 |
Period
From
05/01/15 to 03/31/16 (a) |
Year
Ended
04/30/15 |
||||||
Net asset value, beginning of period | $ 70.64 | $ 57.61 | $ 63.14 | $ 65.99 | $ 59.10 | $ 52.26 | |||||
Net investment income(b) | 1.55 | 1.80 | 1.64 | 1.51 | 1.66 | 1.47 | |||||
Net realized and unrealized gain (loss)(c) | (14.77) | 13.45 | (4.94) | (1.38) | 7.76 | 7.25 | |||||
Net increase (decrease) from investment operations | (13.22) | 15.25 | (3.30) | 0.13 | 9.42 | 8.72 | |||||
Distributions (d) | |||||||||||
From net investment income | (2.16) | (2.00) | (2.23) | (2.56) | (2.09) | (1.88) | |||||
From net realized gain | — | (0.22) | — | (0.42) | (0.44) | — | |||||
Total distributions | (2.16) | (2.22) | (2.23) | (2.98) | (2.53) | (1.88) | |||||
Net asset value, end of period | $ 55.26 | $ 70.64 | $ 57.61 | $ 63.14 | $ 65.99 | $ 59.10 | |||||
Total Return | |||||||||||
Based on net asset value | (19.25)% | 26.94% | (5.41)% | 0.31% | 16.35% (e) | 16.93% | |||||
Ratios to Average Net Assets | |||||||||||
Total expenses | 0.48% | 0.48% | 0.48% | 0.48% | 0.48% (f) | 0.48% | |||||
Net investment income | 2.07% | 2.81% | 2.61% | 2.37% | 3.01% (f) | 2.55% | |||||
Supplemental Data | |||||||||||
Net assets, end of period (000) | $331,559 | $430,875 | $285,163 | $375,687 | $399,220 | $304,350 | |||||
Portfolio turnover rate(g) | 12% | 10% | 19% | 15% | 17% (e) | 21% | |||||
(a) The Fund's fiscal year-end changed from April 30 to March 31. |
|||||||||||
(b) Based on average shares outstanding. | |||||||||||
(c) The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share transactions in relation to the fluctuating market values of the Fund’s underlying securities. | |||||||||||
(d) Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | |||||||||||
(e) Not annualized. | |||||||||||
(f) Annualized. | |||||||||||
(g) Portfolio turnover rate excludes in-kind transactions. |
Premium/Discount Range | Number of Days | Percentage of Total Days | ||
Greater than 0.0% and Less than 0.5% | 178 | 47.21% | ||
At NAV | 38 | 10.09 | ||
Less than 0.0% and Greater than -0.5% | 161 | 42.70 | ||
377 | 100.00% |
Average Annual Total Returns | Cumulative Total Returns | ||||||
1 Year | 5 Years | 10 Years | 1 Year | 5 Years | 10 Years | ||
Fund NAV | (19.25)% | 1.47% | 9.09% | (19.25)% | 7.57% | 138.60% | |
Fund Market | (19.30) | 1.46 | 9.09 | (19.30) | 7.54 | 138.69 | |
Index | (18.88) | 1.84 | 9.54 | (18.88) | 9.57 | 148.76 |
Call: |
1-800-iShares
or 1-800-474-2737 (toll free)
Monday through Friday, 8:30 a.m. to 6:30 p.m. (Eastern time) |
Email: | iSharesETFs@blackrock.com |
Write: |
c/o
BlackRock Investments, LLC
1 University Square Drive, Princeton, NJ 08540 |
July 31, 2020 | |
2020 Prospectus |
• |
iShares Russell 1000
ETF | IWB | NYSE ARCA
|
|
S-1 |
|
1 |
|
2 |
|
10 |
|
13 |
|
13 |
|
16 |
|
25 |
|
26 |
|
27 |
|
27 |
|
29 |
Ticker: IWB | Stock Exchange: NYSE Arca |
1 | The amount rounded to 0.00%. |
1 Year | 3 Years | 5 Years | 10 Years | |||
$15 | $48 | $85 | $192 |
1 | The Fund’s year-to-date return as of June 30, 2020 was -2.87%. |
One Year | Five Years | Ten Years | |||
(Inception Date: 5/15/2000) | |||||
Return Before Taxes | 31.26% | 11.35% | 13.40% | ||
Return After Taxes on Distributions1 | 30.68% | 10.85% | 12.94% | ||
Return After Taxes on Distributions and Sale of Fund Shares1 | 18.85% | 8.93% | 11.16% | ||
Russell 1000® Index (Index returns do not reflect deductions for fees, expenses, or taxes) | 31.43% | 11.48% | 13.54% |
1 | After-tax returns in the table above are calculated using the historical highest individual U.S. federal marginal income tax rates and do not reflect the impact of state or local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown, and after-tax returns shown are not relevant to tax-exempt investors or investors who hold shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts (“IRAs”). Fund returns after taxes on distributions and sales of Fund shares are calculated assuming that an investor has sufficient capital gains of the same character from other investments to offset any capital losses from the sale of Fund shares. As a result, Fund returns after taxes on distributions and sales of Fund shares may exceed Fund returns before taxes and/or returns after taxes on distributions. |
■ | General Impact. This outbreak has resulted in travel restrictions, closed international borders, enhanced health screenings at ports of entry and elsewhere, disruption of and delays in healthcare service preparation and delivery, prolonged quarantines, cancellations, supply chain disruptions, lower consumer demand, temporary closures of stores, restaurants and other commercial establishments, layoffs, defaults and other significant economic impacts, as well as general concern and uncertainty. |
■ | Market Volatility. The outbreak has also resulted in extreme volatility, severe losses, and disruptions in markets which can adversely impact the Fund and its investments, including impairing hedging activity to the extent a Fund engages in such activity, as expected correlations between related markets or instruments may no longer apply. In addition, to the extent the Fund invests in short-term instruments that have negative yields, the Fund’s value may be impaired as a result. Certain issuers of equity securities have cancelled or announced the suspension of dividends. The outbreak has, and may continue to, negatively affect the credit ratings of some fixed income securities and their issuers. |
■ | Market Closures. Certain local markets have been or may be subject to closures, and there can be no assurance that trading will continue in any local markets in which the Fund may invest, when any resumption of trading will occur or, once such markets resume trading, whether they will face further closures. Any suspension of trading in markets in which the Fund invests will have an impact on the Fund and its investments and will impact the Fund’s ability to purchase or sell securities in such markets. |
■ | Operational Risk. The outbreak could also impair the information technology and other operational systems upon which the Fund’s service providers, including BFA, rely, and could otherwise disrupt the ability of employees of the Fund’s service providers to perform critical tasks relating to the Fund, for example, due to the service providers’ employees performing tasks in alternate locations than under normal operating conditions or the illness of certain employees of the Fund’s service providers. |
■ | Governmental Interventions. Governmental and quasi-governmental authorities and regulators throughout the world have responded to the outbreak and the resulting economic disruptions with a variety of fiscal and monetary policy changes, including direct capital infusions into companies and other issuers, new monetary policy |
tools, and lower interest rates. An unexpected or sudden reversal of these policies, or the ineffectiveness of such policies, is likely to increase market volatility, which could adversely affect the Fund’s investments. | |
■ | Pre-Existing Conditions. Public health crises caused by the outbreak may exacerbate other pre-existing political, social and economic risks in certain countries or globally. |
Approximate
Value of a Creation Unit |
Creation
Unit Size |
Standard
Creation/ Redemption Transaction Fee |
Maximum
Additional
Charge for Creations* |
Maximum
Additional
Charge for Redemptions* |
||||
$8,014,500 | 50,000 | $2,500 | 3.0% | 2.0% |
* | As a percentage of the net asset value per Creation Unit, inclusive, in the case of redemptions, of the standard redemption transaction fee. |
Premium/Discount Range | Number of Days | Percentage of Total Days | ||
Greater than 0.0% and Less than 0.5% | 144 | 38.20% | ||
At NAV | 89 | 23.60 | ||
Less than 0.0% and Greater than -0.5% | 144 | 38.20 | ||
377 | 100.00% |
Average Annual Total Returns | Cumulative Total Returns | ||||||
1 Year | 5 Years | 10 Years | 1 Year | 5 Years | 10 Years | ||
Fund NAV | (8.15)% | 6.09% | 10.25% | (8.15)% | 34.40% | 165.40% | |
Fund Market | (8.16) | 6.10 | 10.25 | (8.16) | 34.44 | 165.35 | |
Index | (8.03) | 6.22 | 10.39 | (8.03) | 35.23 | 168.77 |
Call: |
1-800-iShares
or 1-800-474-2737 (toll free)
Monday through Friday, 8:30 a.m. to 6:30 p.m. (Eastern time) |
Email: | iSharesETFs@blackrock.com |
Write: |
c/o
BlackRock Investments, LLC
1 University Square Drive, Princeton, NJ 08540 |
July 31, 2020 | |
2020 Prospectus |
• |
iShares Russell 1000
Growth ETF | IWF | NYSE ARCA
|
|
S-1 |
|
1 |
|
2 |
|
11 |
|
13 |
|
13 |
|
16 |
|
25 |
|
26 |
|
27 |
|
27 |
|
29 |
Ticker: IWF | Stock Exchange: NYSE Arca |
1 | The amount rounded to 0.00%. |
1 Year | 3 Years | 5 Years | 10 Years | |||
$19 | $61 | $107 | $243 |
1 | The Fund’s year-to-date return as of June 30, 2020 was 9.70%. |
One Year | Five Years | Ten Years | |||
(Inception Date: 5/22/2000) | |||||
Return Before Taxes | 36.08% | 14.42% | 15.00% | ||
Return After Taxes on Distributions1 | 35.73% | 14.07% | 14.68% | ||
Return After Taxes on Distributions and Sale of Fund Shares1 | 21.57% | 11.52% | 12.63% | ||
Russell 1000® Growth Index (Index returns do not reflect deductions for fees, expenses, or taxes) | 36.39% | 14.63% | 15.22% |
1 | After-tax returns in the table above are calculated using the historical highest individual U.S. federal marginal income tax rates and do not reflect the impact of state or local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown, and after-tax returns shown are not relevant to tax-exempt investors or investors who hold shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts (“IRAs”). Fund returns after taxes on distributions and sales of Fund shares are calculated assuming that an investor has sufficient capital gains of the same character from other investments to offset any capital losses from the sale of Fund shares. As a result, Fund returns after taxes on distributions and sales of Fund shares may exceed Fund returns before taxes and/or returns after taxes on distributions. |
■ | General Impact. This outbreak has resulted in travel restrictions, closed international borders, enhanced health screenings at ports of entry and elsewhere, disruption of and delays in healthcare service preparation and delivery, prolonged quarantines, cancellations, supply chain disruptions, lower consumer demand, temporary closures of stores, restaurants and other commercial establishments, layoffs, defaults and other significant economic impacts, as well as general concern and uncertainty. |
■ | Market Volatility. The outbreak has also resulted in extreme volatility, severe losses, and disruptions in markets which can adversely impact the Fund and its investments, including impairing hedging activity to the extent a Fund engages in such activity, as expected correlations between related markets or instruments may no longer apply. In addition, to the extent the Fund invests in short-term instruments that have negative yields, the Fund’s value may be impaired as a result. Certain issuers of equity securities have cancelled or announced the suspension of dividends. The outbreak has, and may continue to, negatively affect the credit ratings of some fixed income securities and their issuers. |
■ | Market Closures. Certain local markets have been or may be subject to closures, and there can be no assurance that trading will continue in any local markets in which the Fund may invest, when any resumption of trading will occur or, once such markets resume trading, whether they will face further closures. Any suspension of trading in markets in which the Fund invests will have an impact on the Fund and its investments and will impact the Fund’s ability to purchase or sell securities in such markets. |
■ | Operational Risk. The outbreak could also impair the information technology and other operational systems upon which the Fund’s service providers, including BFA, rely, and could otherwise disrupt the ability of employees of the Fund’s service providers to perform critical tasks relating to the Fund, for example, due to the service providers’ employees performing tasks in alternate locations than under normal operating conditions or the illness of certain employees of the Fund’s service providers. |
■ | Governmental Interventions. Governmental and quasi-governmental authorities and regulators throughout the world have responded to the outbreak and the resulting economic disruptions with a variety of fiscal and monetary policy changes, including direct capital infusions into companies and other issuers, new monetary policy tools, and lower interest rates. An unexpected or sudden reversal of these policies, |
or the ineffectiveness of such policies, is likely to increase market volatility, which could adversely affect the Fund’s investments. | |
■ | Pre-Existing Conditions. Public health crises caused by the outbreak may exacerbate other pre-existing political, social and economic risks in certain countries or globally. |
Approximate
Value of a Creation Unit |
Creation
Unit Size |
Standard
Creation/ Redemption Transaction Fee |
Maximum
Additional
Charge for Creations* |
Maximum
Additional
Charge for Redemptions* |
||||
$8,648,000 | 50,000 | $1,450 | 3.0% | 2.0% |
* | As a percentage of the net asset value per Creation Unit, inclusive, in the case of redemptions, of the standard redemption transaction fee. |
Premium/Discount Range | Number of Days | Percentage of Total Days | ||
Greater than 0.0% and Less than 0.5% | 125 | 33.16% | ||
At NAV | 83 | 22.02 | ||
Less than 0.0% and Greater than -0.5% | 169 | 44.82 | ||
377 | 100.00% |
Average Annual Total Returns | Cumulative Total Returns | ||||||
1 Year | 5 Years | 10 Years | 1 Year | 5 Years | 10 Years | ||
Fund NAV | 0.68% | 10.16% | 12.75% | 0.68% | 62.21% | 232.14% | |
Fund Market | 0.66 | 10.15 | 12.75 | 0.66 | 62.18 | 232.06 | |
Index | 0.91 | 10.36 | 12.97 | 0.91 | 63.71 | 238.48 |
Call: |
1-800-iShares
or 1-800-474-2737 (toll free)
Monday through Friday, 8:30 a.m. to 6:30 p.m. (Eastern time) |
Email: | iSharesETFs@blackrock.com |
Write: |
c/o
BlackRock Investments, LLC
1 University Square Drive, Princeton, NJ 08540 |
July 31, 2020 | |
2020 Prospectus |
• |
iShares Russell 1000 Pure
U.S. Revenue ETF | AMCA | NASDAQ
|
|
S-1 |
|
1 |
|
2 |
|
11 |
|
14 |
|
14 |
|
17 |
|
26 |
|
27 |
|
28 |
|
28 |
|
30 |
Ticker: AMCA | Stock Exchange: NASDAQ |
1 | The amount rounded to 0.00%. |
1 Year | 3 Years | 5 Years | 10 Years | |||
$15 | $48 | $85 | $192 |
1 | The Fund’s year-to-date return as of June 30, 2020 was -12.64%. |
One Year |
Since
Fund
Inception |
||
(Inception Date: 8/8/2017) | |||
Return Before Taxes | 26.27% | 11.28% | |
Return After Taxes on Distributions1 | 25.49% | 10.63% | |
Return After Taxes on Distributions and Sale of Fund Shares1 | 16.01% | 8.63% | |
Russell 1000® Pure Domestic Exposure Index (Index returns do not reflect deductions for fees, expenses, or taxes) | 26.55% | 11.51% |
1 | After-tax returns in the table above are calculated using the historical highest individual U.S. federal marginal income tax rates and do not reflect the impact of state or local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown, and after-tax returns shown are not relevant to tax-exempt investors or investors who hold shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts (“IRAs”). Fund returns after taxes on distributions and sales of Fund shares are calculated assuming that an investor has sufficient capital gains of the same character from other investments to offset any capital losses from the sale of Fund shares. As a result, Fund returns after taxes on distributions and sales of Fund shares may exceed Fund returns before taxes and/or returns after taxes on distributions. |
■ | General Impact. This outbreak has resulted in travel restrictions, closed international borders, enhanced health screenings at ports of entry and elsewhere, disruption of and delays in healthcare service preparation and delivery, prolonged quarantines, cancellations, supply chain disruptions, lower consumer demand, temporary closures of stores, restaurants and other commercial establishments, layoffs, defaults and other significant economic impacts, as well as general concern and uncertainty. |
■ | Market Volatility. The outbreak has also resulted in extreme volatility, severe losses, and disruptions in markets which can adversely impact the Fund and its investments, including impairing hedging activity to the extent a Fund engages in such activity, as expected correlations between related markets or instruments may no longer apply. In addition, to the extent the Fund invests in short-term instruments that have negative yields, the Fund’s value may be impaired as a result. Certain issuers of equity securities have cancelled or announced the suspension of dividends. The outbreak has, and may continue to, negatively affect the credit ratings of some fixed income securities and their issuers. |
■ | Market Closures. Certain local markets have been or may be subject to closures, and there can be no assurance that trading will continue in any local markets in which the Fund may invest, when any resumption of trading will occur or, once such markets resume trading, whether they will face further closures. Any suspension of trading in markets in which the Fund invests will have an impact on the Fund and its investments and will impact the Fund’s ability to purchase or sell securities in such markets. |
■ | Operational Risk. The outbreak could also impair the information technology and other operational systems upon which the Fund’s service providers, including BFA, rely, and could otherwise disrupt the ability of employees of the Fund’s service providers to perform critical tasks relating to the Fund, for example, due to the |
service providers’ employees performing tasks in alternate locations than under normal operating conditions or the illness of certain employees of the Fund’s service providers. | |
■ | Governmental Interventions. Governmental and quasi-governmental authorities and regulators throughout the world have responded to the outbreak and the resulting economic disruptions with a variety of fiscal and monetary policy changes, including direct capital infusions into companies and other issuers, new monetary policy tools, and lower interest rates. An unexpected or sudden reversal of these policies, or the ineffectiveness of such policies, is likely to increase market volatility, which could adversely affect the Fund’s investments. |
■ | Pre-Existing Conditions. Public health crises caused by the outbreak may exacerbate other pre-existing political, social and economic risks in certain countries or globally. |
Approximate
Value of a Creation Unit |
Creation
Unit Size |
Standard
Creation/ Redemption Transaction Fee |
Maximum
Additional
Charge for Creations* |
Maximum
Additional
Charge for Redemptions* |
||||
$1,270,500 | 50,000 | $1,200 | 3.0% | 2.0% |
* | As a percentage of the net asset value per Creation Unit, inclusive, in the case of redemptions, of the standard redemption transaction fee. |
iShares Russell 1000 Pure U.S. Revenue ETF | |||||
Year
Ended
03/31/20 |
Year
Ended
03/31/19 |
Period
From
08/08/17(a) to 03/31/18 |
|||
Net asset value, beginning of period | $ 27.52 | $ 26.10 | $24.97 | ||
Net investment income(b) | 0.62 | 0.59 | 0.36 | ||
Net realized and unrealized gain (loss)(c) | (4.61) | 1.48 | 1.03 | ||
Net increase (decrease) from investment operations | (3.99) | 2.07 | 1.39 | ||
Distributions (d) | |||||
From net investment income | (0.78) | (0.65) | (0.26) | ||
Total distributions | (0.78) | (0.65) | (0.26) | ||
Net asset value, end of period | $ 22.75 | $ 27.52 | $ 26.10 | ||
Total Return | |||||
Based on net asset value | (14.94)% | 8.00% | 5.59% (e) | ||
Ratios to Average Net Assets | |||||
Total expenses | 0.15% | 0.15% | 0.15% (f) | ||
Net investment income | 2.19% | 2.18% | 2.09% (f) | ||
Supplemental Data | |||||
Net assets, end of period (000) | $ 3,412 | $11,010 | $ 9,135 | ||
Portfolio turnover rate(g) | 23% | 12% | 4% (e) | ||
(a) Commencement of operations. |
|||||
(b) Based on average shares outstanding. | |||||
(c) The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share transactions in relation to the fluctuating market values of the Fund’s underlying securities. | |||||
(d) Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | |||||
(e) Not annualized. | |||||
(f) Annualized. | |||||
(g) Portfolio turnover rate excludes in-kind transactions. |
Premium/Discount Range | Number of Days | Percentage of Total Days | ||
Greater than 2.5% and Less than 3.0% | 1 | 0.27% | ||
Greater than 0.0% and Less than 0.5% | 113 | 29.97 | ||
At NAV | 19 | 5.04 | ||
Less than 0.0% and Greater than -0.5% | 244 | 64.72 | ||
377 | 100.00% |
Average Annual Total Returns | Cumulative Total Returns | ||||
1 Year |
Since
Inception |
1 Year |
Since
Inception |
||
Fund NAV | (14.94)% | (1.15)% | (14.94)% | (3.01)% | |
Fund Market | (15.01) | (1.16) | (15.01) | (3.05) | |
Index | (14.89) | (1.01) | (14.89) | (2.66) |
Total returns for the period since inception are calculated from the inception date of the Fund (8/8/17). The first day of secondary market trading in shares of the Fund was 8/10/17. |
Call: |
1-800-iShares
or 1-800-474-2737 (toll free)
Monday through Friday, 8:30 a.m. to 6:30 p.m. (Eastern time) |
Email: | iSharesETFs@blackrock.com |
Write: |
c/o
BlackRock Investments, LLC
1 University Square Drive, Princeton, NJ 08540 |
July 31, 2020 | |
2020 Prospectus |
• |
iShares Russell 1000
Value ETF | IWD | NYSE ARCA
|
|
S-1 |
|
1 |
|
2 |
|
11 |
|
14 |
|
14 |
|
18 |
|
27 |
|
28 |
|
29 |
|
29 |
|
31 |
Ticker: IWD | Stock Exchange: NYSE Arca |
1 | The amount rounded to 0.00%. |
1 Year | 3 Years | 5 Years | 10 Years | |||
$19 | $61 | $107 | $243 |
1 | The Fund’s year-to-date return as of June 30, 2020 was -16.28%. |
One Year | Five Years | Ten Years | |||
(Inception Date: 5/22/2000) | |||||
Return Before Taxes | 26.34% | 8.11% | 11.59% | ||
Return After Taxes on Distributions1 | 25.55% | 7.48% | 11.04% | ||
Return After Taxes on Distributions and Sale of Fund Shares1 | 16.07% | 6.28% | 9.55% | ||
Russell 1000® Value Index (Index returns do not reflect deductions for fees, expenses, or taxes) | 26.54% | 8.29% | 11.80% |
1 | After-tax returns in the table above are calculated using the historical highest individual U.S. federal marginal income tax rates and do not reflect the impact of state or local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown, and after-tax returns shown are not relevant to tax-exempt investors or investors who hold shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts (“IRAs”). Fund returns after taxes on distributions and sales of Fund shares are calculated assuming that an investor has sufficient capital gains of the same character from other investments to offset any capital losses from the sale of Fund shares. As a result, Fund returns after taxes on distributions and sales of Fund shares may exceed Fund returns before taxes and/or returns after taxes on distributions. |
■ | General Impact. This outbreak has resulted in travel restrictions, closed international borders, enhanced health screenings at ports of entry and elsewhere, disruption of and delays in healthcare service preparation and delivery, prolonged quarantines, cancellations, supply chain disruptions, lower consumer demand, temporary closures of stores, restaurants and other commercial establishments, layoffs, defaults and other significant economic impacts, as well as general concern and uncertainty. |
■ | Market Volatility. The outbreak has also resulted in extreme volatility, severe losses, and disruptions in markets which can adversely impact the Fund and its investments, including impairing hedging activity to the extent a Fund engages in such activity, as expected correlations between related markets or instruments may no longer apply. In addition, to the extent the Fund invests in short-term instruments that have negative yields, the Fund’s value may be impaired as a result. Certain issuers of equity securities have cancelled or announced the suspension of dividends. The outbreak has, and may continue to, negatively affect the credit ratings of some fixed income securities and their issuers. |
■ | Market Closures. Certain local markets have been or may be subject to closures, and there can be no assurance that trading will continue in any local markets in which the Fund may invest, when any resumption of trading will occur or, once such markets resume trading, whether they will face further closures. Any suspension of trading in markets in which the Fund invests will have an impact on the Fund and its investments and will impact the Fund’s ability to purchase or sell securities in such markets. |
■ | Operational Risk. The outbreak could also impair the information technology and |
■ | Governmental Interventions. Governmental and quasi-governmental authorities and regulators throughout the world have responded to the outbreak and the resulting economic disruptions with a variety of fiscal and monetary policy changes, including direct capital infusions into companies and other issuers, new monetary policy tools, and lower interest rates. An unexpected or sudden reversal of these policies, or the ineffectiveness of such policies, is likely to increase market volatility, which could adversely affect the Fund’s investments. |
■ | Pre-Existing Conditions. Public health crises caused by the outbreak may exacerbate other pre-existing political, social and economic risks in certain countries or globally. |
Approximate
Value of a Creation Unit |
Creation
Unit Size |
Standard
Creation/ Redemption Transaction Fee |
Maximum
Additional
Charge for Creations* |
Maximum
Additional
Charge for Redemptions* |
||||
$5,518,500 | 50,000 | $1,750 | 3.0% | 2.0% |
* | As a percentage of the net asset value per Creation Unit, inclusive, in the case of redemptions, of the standard redemption transaction fee. |
Premium/Discount Range | Number of Days | Percentage of Total Days | ||
Greater than 0.0% and Less than 0.5% | 129 | 34.23% | ||
At NAV | 75 | 19.89 | ||
Less than 0.0% and Greater than -0.5% | 173 | 45.88 | ||
377 | 100.00% |
Average Annual Total Returns | Cumulative Total Returns | ||||||
1 Year | 5 Years | 10 Years | 1 Year | 5 Years | 10 Years | ||
Fund NAV | (17.30)% | 1.74% | 7.47% | (17.30)% | 9.02% | 105.59% | |
Fund Market | (17.24) | 1.76 | 7.48 | (17.24) | 9.10 | 105.70 | |
Index | (17.17) | 1.90 | 7.67 | (17.17) | 9.89 | 109.31 |
Call: |
1-800-iShares
or 1-800-474-2737 (toll free)
Monday through Friday, 8:30 a.m. to 6:30 p.m. (Eastern time) |
Email: | iSharesETFs@blackrock.com |
Write: |
c/o
BlackRock Investments, LLC
1 University Square Drive, Princeton, NJ 08540 |
July 31, 2020 | |
2020 Prospectus |
• |
iShares Russell 2000
ETF | IWM | NYSE ARCA
|
|
S-1 |
|
1 |
|
2 |
|
11 |
|
15 |
|
15 |
|
18 |
|
27 |
|
28 |
|
29 |
|
29 |
|
31 |
Ticker: IWM | Stock Exchange: NYSE Arca |
1 | The amount rounded to 0.00%. |
1 Year | 3 Years | 5 Years | 10 Years | |||
$19 | $61 | $107 | $243 |
1 | The Fund’s year-to-date return as of June 30, 2020 was -12.99%. |
One Year | Five Years | Ten Years | |||
(Inception Date: 5/22/2000) | |||||
Return Before Taxes | 25.42% | 8.24% | 11.83% | ||
Return After Taxes on Distributions1 | 24.95% | 7.79% | 11.40% | ||
Return After Taxes on Distributions and Sale of Fund Shares1 | 15.23% | 6.35% | 9.71% | ||
Russell 2000® Index (Index returns do not reflect deductions for fees, expenses, or taxes) | 25.52% | 8.23% | 11.83% |
1 | After-tax returns in the table above are calculated using the historical highest individual U.S. federal marginal income tax rates and do not reflect the impact of state or local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown, and after-tax returns shown are not relevant to tax-exempt investors or investors who hold shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts (“IRAs”). Fund returns after taxes on distributions and sales of Fund shares are calculated assuming that an investor has sufficient capital gains of the same character from other investments to offset any capital losses from the sale of Fund shares. As a result, Fund returns after taxes on distributions and sales of Fund shares may exceed Fund returns before taxes and/or returns after taxes on distributions. |
■ | General Impact. This outbreak has resulted in travel restrictions, closed international borders, enhanced health screenings at ports of entry and elsewhere, disruption of and delays in healthcare service preparation and delivery, prolonged quarantines, cancellations, supply chain disruptions, lower consumer demand, temporary closures of stores, restaurants and other commercial establishments, layoffs, defaults and other significant economic impacts, as well as general concern and uncertainty. |
■ | Market Volatility. The outbreak has also resulted in extreme volatility, severe losses, and disruptions in markets which can adversely impact the Fund and its investments, including impairing hedging activity to the extent a Fund engages in such activity, as expected correlations between related markets or instruments may no longer apply. In addition, to the extent the Fund invests in short-term instruments that have negative yields, the Fund’s value may be impaired as a result. Certain issuers of equity securities have cancelled or announced the suspension of dividends. The outbreak has, and may continue to, negatively affect the credit ratings of some fixed income securities and their issuers. |
■ | Market Closures. Certain local markets have been or may be subject to closures, and there can be no assurance that trading will continue in any local markets in |
which the Fund may invest, when any resumption of trading will occur or, once such markets resume trading, whether they will face further closures. Any suspension of trading in markets in which the Fund invests will have an impact on the Fund and its investments and will impact the Fund’s ability to purchase or sell securities in such markets. | |
■ | Operational Risk. The outbreak could also impair the information technology and other operational systems upon which the Fund’s service providers, including BFA, rely, and could otherwise disrupt the ability of employees of the Fund’s service providers to perform critical tasks relating to the Fund, for example, due to the service providers’ employees performing tasks in alternate locations than under normal operating conditions or the illness of certain employees of the Fund’s service providers. |
■ | Governmental Interventions. Governmental and quasi-governmental authorities and regulators throughout the world have responded to the outbreak and the resulting economic disruptions with a variety of fiscal and monetary policy changes, including direct capital infusions into companies and other issuers, new monetary policy tools, and lower interest rates. An unexpected or sudden reversal of these policies, or the ineffectiveness of such policies, is likely to increase market volatility, which could adversely affect the Fund’s investments. |
■ | Pre-Existing Conditions. Public health crises caused by the outbreak may exacerbate other pre-existing political, social and economic risks in certain countries or globally. |
Approximate
Value of a Creation Unit |
Creation
Unit Size |
Standard
Creation/ Redemption Transaction Fee |
Maximum
Additional
Charge for Creations* |
Maximum
Additional
Charge for Redemptions* |
||||
$6,519,500 | 50,000 | $3,000 | 3.0% | 2.0% |
* | As a percentage of the net asset value per Creation Unit, inclusive, in the case of redemptions, of the standard redemption transaction fee. |
Premium/Discount Range | Number of Days | Percentage of Total Days | ||
Greater than 2.0% and Less than 2.5% | 1 | 0.27% | ||
Greater than 0.0% and Less than 0.5% | 163 | 43.23 | ||
At NAV | 26 | 6.90 | ||
Less than 0.0% and Greater than -0.5% | 183 | 48.53 | ||
Less than -0.5% and Greater than -1.0% | 2 | 0.53 | ||
Less than -1.0% and Greater than -1.5% | 1 | 0.27 | ||
Less than -1.5% and Greater than -2.0% | 1 | 0.27 | ||
377 | 100.00% |
Average Annual Total Returns | Cumulative Total Returns | ||||||
1 Year | 5 Years | 10 Years | 1 Year | 5 Years | 10 Years | ||
Fund NAV | (24.04)% | (0.24)% | 6.91% | (24.04)% | (1.21)% | 95.05% | |
Fund Market | (24.16) | (0.27) | 6.90 | (24.16) | (1.34) | 94.86 | |
Index | (23.99) | (0.25) | 6.90 | (23.99) | (1.23) | 94.94 |
Call: |
1-800-iShares
or 1-800-474-2737 (toll free)
Monday through Friday, 8:30 a.m. to 6:30 p.m. (Eastern time) |
Email: | iSharesETFs@blackrock.com |
Write: |
c/o
BlackRock Investments, LLC
1 University Square Drive, Princeton, NJ 08540 |
July 31, 2020 | |
2020 Prospectus |
• |
iShares Russell 2000
Growth ETF | IWO | NYSE ARCA
|
|
S-1 |
|
1 |
|
2 |
|
10 |
|
15 |
|
15 |
|
19 |
|
28 |
|
29 |
|
30 |
|
30 |
|
32 |
Ticker: IWO | Stock Exchange: NYSE Arca |
1 | The amount rounded to 0.00%. |
1 Year | 3 Years | 5 Years | 10 Years | |||
$25 | $77 | $135 | $306 |
1 | The Fund’s year-to-date return as of June 30, 2020 was -3.10%. |
One Year | Five Years | Ten Years | |||
(Inception Date: 7/24/2000) | |||||
Return Before Taxes | 28.46% | 9.42% | 13.09% | ||
Return After Taxes on Distributions1 | 28.20% | 9.16% | 12.85% | ||
Return After Taxes on Distributions and Sale of Fund Shares1 | 16.96% | 7.38% | 10.92% | ||
Russell 2000® Growth Index (Index returns do not reflect deductions for fees, expenses, or taxes) | 28.48% | 9.34% | 13.01% |
1 | After-tax returns in the table above are calculated using the historical highest individual U.S. federal marginal income tax rates and do not reflect the impact of state or local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown, and after-tax returns shown are not relevant to tax-exempt investors or investors who hold shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts (“IRAs”). Fund returns after taxes on distributions and sales of Fund shares are calculated assuming that an investor has sufficient capital gains of the same character from other investments to offset any capital losses from the sale of Fund shares. As a result, Fund returns after taxes on distributions and sales of Fund shares may exceed Fund returns before taxes and/or returns after taxes on distributions. |
■ | General Impact. This outbreak has resulted in travel restrictions, closed international borders, enhanced health screenings at ports of entry and elsewhere, disruption of and delays in healthcare service preparation and delivery, prolonged quarantines, cancellations, supply chain disruptions, lower consumer demand, temporary closures of stores, restaurants and other commercial establishments, layoffs, defaults and other significant economic impacts, as well as general concern and uncertainty. |
■ | Market Volatility. The outbreak has also resulted in extreme volatility, severe losses, and disruptions in markets which can adversely impact the Fund and its investments, including impairing hedging activity to the extent a Fund engages in such activity, as expected correlations between related markets or instruments may no longer apply. In addition, to the extent the Fund invests in short-term instruments that have negative yields, the Fund’s value may be impaired as a result. Certain issuers of equity securities have cancelled or announced the suspension of dividends. The outbreak has, and may continue to, negatively affect the credit ratings of some fixed income securities and their issuers. |
■ | Market Closures. Certain local markets have been or may be subject to closures, and there can be no assurance that trading will continue in any local markets in which the Fund may invest, when any resumption of trading will occur or, once such markets resume trading, whether they will face further closures. Any suspension of trading in markets in which the Fund invests will have an impact on the Fund and its investments and will impact the Fund’s ability to purchase or sell securities in such markets. |
■ | Operational Risk. The outbreak could also impair the information technology and other operational systems upon which the Fund’s service providers, including BFA, rely, and could otherwise disrupt the ability of employees of the Fund’s service providers to perform critical tasks relating to the Fund, for example, due to the service providers’ employees performing tasks in alternate locations than under normal operating conditions or the illness of certain employees of the Fund’s service providers. |
■ | Governmental Interventions. Governmental and quasi-governmental authorities and |
■ | Pre-Existing Conditions. Public health crises caused by the outbreak may exacerbate other pre-existing political, social and economic risks in certain countries or globally. |
Approximate
Value of a Creation Unit |
Creation
Unit Size |
Standard
Creation/ Redemption Transaction Fee |
Maximum
Additional
Charge for Creations* |
Maximum
Additional
Charge for Redemptions* |
||||
$9,121,000 | 50,000 | $2,800 | 3.0% | 2.0% |
* | As a percentage of the net asset value per Creation Unit, inclusive, in the case of redemptions, of the standard redemption transaction fee. |
iShares Russell 2000 Growth ETF | |||||||||
Year
Ended
03/31/20 |
Year
Ended
03/31/19 |
Year
Ended
03/31/18 |
Year
Ended
03/31/17 |
Year
Ended
03/31/16 |
|||||
Net asset value, beginning of year | $ 196.60 | $ 190.63 | $ 161.84 | $ 132.79 | $ 151.62 | ||||
Net investment income(a) | 1.32 | 1.21 | 1.23 | 1.42 | 1.17 | ||||
Net realized and unrealized gain (loss)(b) | (37.65) | 6.04 | 28.91 | 29.18 | (18.80) | ||||
Net increase (decrease) from investment operations | (36.33) | 7.25 | 30.14 | 30.60 | (17.63) | ||||
Distributions (c) | |||||||||
From net investment income | (1.53) | (1.28) | (1.35) | (1.55) | (1.20) | ||||
Total distributions | (1.53) | (1.28) | (1.35) | (1.55) | (1.20) | ||||
Net asset value, end of year | $ 158.74 | $ 196.60 | $ 190.63 | $ 161.84 | $ 132.79 | ||||
Total Return | |||||||||
Based on net asset value | (18.61)% | 3.81% | 18.68% | 23.16% | (11.67)% | ||||
Ratios to Average Net Assets | |||||||||
Total expenses | 0.24% | 0.24% | 0.24% | 0.24% | 0.25% | ||||
Net investment income | 0.66% | 0.61% | 0.70% | 0.96% | 0.82% | ||||
Supplemental Data | |||||||||
Net assets, end of year (000) | $6,936,895 | $9,171,566 | $9,207,286 | $7,630,839 | $5,942,311 | ||||
Portfolio turnover rate(d) | 33% | 35% | 26% | 28% | 28% | ||||
(a) Based on average shares outstanding. |
|||||||||
(b) The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share transactions in relation to the fluctuating market values of the Fund’s underlying securities. | |||||||||
(c) Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | |||||||||
(d) Portfolio turnover rate excludes in-kind transactions. |
Premium/Discount Range | Number of Days | Percentage of Total Days | ||
Greater than 0.0% and Less than 0.5% | 144 | 38.20% | ||
At NAV | 35 | 9.28 | ||
Less than 0.0% and Greater than -0.5% | 194 | 51.46 | ||
Less than -0.5% and Greater than -1.0% | 4 | 1.06 | ||
377 | 100.00% |
Average Annual Total Returns | Cumulative Total Returns | ||||||
1 Year | 5 Years | 10 Years | 1 Year | 5 Years | 10 Years | ||
Fund NAV | (18.61)% | 1.75% | 8.96% | (18.61)% | 9.09% | 135.94% | |
Fund Market | (18.80) | 1.72 | 8.95 | (18.80) | 8.89 | 135.58 | |
Index | (18.58) | 1.70 | 8.89 | (18.58) | 8.80 | 134.30 |
Call: |
1-800-iShares
or 1-800-474-2737 (toll free)
Monday through Friday, 8:30 a.m. to 6:30 p.m. (Eastern time) |
Email: | iSharesETFs@blackrock.com |
Write: |
c/o
BlackRock Investments, LLC
1 University Square Drive, Princeton, NJ 08540 |
July 31, 2020 | |
2020 Prospectus |
• |
iShares Russell 2000
Value ETF | IWN | NYSE ARCA
|
|
S-1 |
|
1 |
|
2 |
|
11 |
|
16 |
|
16 |
|
19 |
|
28 |
|
29 |
|
30 |
|
30 |
|
32 |
Ticker: IWN | Stock Exchange: NYSE Arca |
1 | The amount rounded to 0.00%. |
1 Year | 3 Years | 5 Years | 10 Years | |||
$25 | $77 | $135 | $306 |
1 | The Fund’s year-to-date return as of June 30, 2020 was -23.55%. |
One Year | Five Years | Ten Years | |||
(Inception Date: 7/24/2000) | |||||
Return Before Taxes | 22.17% | 6.88% | 10.43% | ||
Return After Taxes on Distributions1 | 21.49% | 6.27% | 9.85% | ||
Return After Taxes on Distributions and Sale of Fund Shares1 | 13.41% | 5.21% | 8.44% | ||
Russell 2000®Value Index (Index returns do not reflect deductions for fees, expenses, or taxes) | 22.39% | 6.99% | 10.56% |
1 | After-tax returns in the table above are calculated using the historical highest individual U.S. federal marginal income tax rates and do not reflect the impact of state or local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown, and after-tax returns shown are not relevant to tax-exempt investors or investors who hold shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts (“IRAs”). Fund returns after taxes on distributions and sales of Fund shares are calculated assuming that an investor has sufficient capital gains of the same character from other investments to offset any capital losses from the sale of Fund shares. As a result, Fund returns after taxes on distributions and sales of Fund shares may exceed Fund returns before taxes and/or returns after taxes on distributions. |
■ | General Impact. This outbreak has resulted in travel restrictions, closed international borders, enhanced health screenings at ports of entry and elsewhere, disruption of and delays in healthcare service preparation and delivery, prolonged quarantines, cancellations, supply chain disruptions, lower consumer demand, temporary closures of stores, restaurants and other commercial establishments, layoffs, defaults and other significant economic impacts, as well as general concern and uncertainty. |
■ | Market Volatility. The outbreak has also resulted in extreme volatility, severe losses, and disruptions in markets which can adversely impact the Fund and its investments, including impairing hedging activity to the extent a Fund engages in such activity, as expected correlations between related markets or instruments may no longer apply. In addition, to the extent the Fund invests in short-term instruments that have negative yields, the Fund’s value may be impaired as a result. Certain issuers of equity securities have cancelled or announced the suspension of dividends. The outbreak has, and may continue to, negatively affect the credit ratings of some fixed income securities and their issuers. |
■ | Market Closures. Certain local markets have been or may be subject to closures, and there can be no assurance that trading will continue in any local markets in which the Fund may invest, when any resumption of trading will occur or, once such markets resume trading, whether they will face further closures. Any suspension of trading in markets in which the Fund invests will have an impact on the Fund and its investments and will impact the Fund’s ability to purchase or sell securities in such markets. |
■ | Operational Risk. The outbreak could also impair the information technology and other operational systems upon which the Fund’s service providers, including BFA, rely, and could otherwise disrupt the ability of employees of the Fund’s service providers to perform critical tasks relating to the Fund, for example, due to the service providers’ employees performing tasks in alternate locations than under normal operating conditions or the illness of certain employees of the Fund’s service providers. |
■ | Governmental Interventions. Governmental and quasi-governmental authorities and regulators throughout the world have responded to the outbreak and the resulting economic disruptions with a variety of fiscal and monetary policy changes, including direct capital infusions into companies and other issuers, new monetary policy tools, and lower interest rates. An unexpected or sudden reversal of these policies, |
or the ineffectiveness of such policies, is likely to increase market volatility, which could adversely affect the Fund’s investments. | |
■ | Pre-Existing Conditions. Public health crises caused by the outbreak may exacerbate other pre-existing political, social and economic risks in certain countries or globally. |
Approximate
Value of a Creation Unit |
Creation
Unit Size |
Standard
Creation/ Redemption Transaction Fee |
Maximum
Additional
Charge for Creations* |
Maximum
Additional
Charge for Redemptions* |
||||
$4,624,500 | 50,000 | $3,000 | 3.0% | 2.0% |
* | As a percentage of the net asset value per Creation Unit, inclusive, in the case of redemptions, of the standard redemption transaction fee. |
iShares Russell 2000 Value ETF | |||||||||
Year
Ended
03/31/20 |
Year
Ended
03/31/19 |
Year
Ended
03/31/18 |
Year
Ended
03/31/17 |
Year
Ended
03/31/16 |
|||||
Net asset value, beginning of year | $ 119.84 | $ 122.00 | $ 118.27 | $ 93.28 | $ 103.22 | ||||
Net investment income(a) | 2.07 | 2.18 | 2.03 | 1.92 | 1.89 | ||||
Net realized and unrealized gain (loss)(b) | (37.17) | (2.10) | 3.93 | 25.16 | (9.88) | ||||
Net increase (decrease) from investment operations | (35.10) | 0.08 | 5.96 | 27.08 | (7.99) | ||||
Distributions (c) | |||||||||
From net investment income | (2.40) | (2.24) | (2.23) | (2.09) | (1.95) | ||||
Total distributions | (2.40) | (2.24) | (2.23) | (2.09) | (1.95) | ||||
Net asset value, end of year | $ 82.34 | $ 119.84 | $ 122.00 | $ 118.27 | $ 93.28 | ||||
Total Return | |||||||||
Based on net asset value | (29.79)% | 0.03% | 5.06% | 29.25% | (7.76)% | ||||
Ratios to Average Net Assets | |||||||||
Total expenses | 0.24% | 0.24% | 0.24% | 0.24% | 0.25% | ||||
Net investment income | 1.74% | 1.73% | 1.67% | 1.79% | 1.98% | ||||
Supplemental Data | |||||||||
Net assets, end of year (000) | $6,607,533 | $9,107,939 | $8,838,621 | $8,787,608 | $5,788,063 | ||||
Portfolio turnover rate(d) | 25% | 26% | 23% | 24% | 26% | ||||
(a) Based on average shares outstanding. |
|||||||||
(b) The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share transactions in relation to the fluctuating market values of the Fund’s underlying securities. | |||||||||
(c) Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | |||||||||
(d) Portfolio turnover rate excludes in-kind transactions. |
Premium/Discount Range | Number of Days | Percentage of Total Days | ||
Greater than 0.5% and Less than 1.0% | 1 | 0.27% | ||
Greater than 0.0% and Less than 0.5% | 160 | 42.44 | ||
At NAV | 36 | 9.55 | ||
Less than 0.0% and Greater than -0.5% | 178 | 47.21 | ||
Less than -0.5% and Greater than -1.0% | 2 | 0.53 | ||
377 | 100.00% |
Average Annual Total Returns | Cumulative Total Returns | ||||||
1 Year | 5 Years | 10 Years | 1 Year | 5 Years | 10 Years | ||
Fund NAV | (29.79)% | (2.53)% | 4.66% | (29.79)% | (12.03)% | 57.77% | |
Fund Market | (29.95) | (2.57) | 4.65 | (29.95) | (12.21) | 57.51 | |
Index | (29.64) | (2.42) | 4.79 | (29.64) | (11.55) | 59.65 |
Call: |
1-800-iShares
or 1-800-474-2737 (toll free)
Monday through Friday, 8:30 a.m. to 6:30 p.m. (Eastern time) |
Email: | iSharesETFs@blackrock.com |
Write: |
c/o
BlackRock Investments, LLC
1 University Square Drive, Princeton, NJ 08540 |
July 31, 2020 | |
2020 Prospectus |
• |
iShares Russell 2500
ETF | SMMD | CBOE BZX
|
|
S-1 |
|
1 |
|
2 |
|
12 |
|
16 |
|
17 |
|
17 |
|
20 |
|
30 |
|
31 |
|
32 |
|
32 |
|
34 |
Ticker: SMMD | Stock Exchange: Cboe BZX |
Annual
Fund Operating Expenses
(ongoing expenses that you pay each year as a percentage of the value of your investments) |
||||||||||||
Management
Fees |
Distribution
and
Service (12b-1) Fees |
Other
Expenses |
Acquired
Fund Fees
and Expenses |
Total
Annual
Fund Operating Expenses |
Fee Waiver |
Total
Annual
Fund Operating Expenses After Fee Waiver |
||||||
0.15% | None | None | 0.08% | 0.23% | (0.08)% | 0.15% |
1 Year | 3 Years | 5 Years | 10 Years | |||
$15 | $57 | $113 | $277 |
1 | The Fund’s year-to-date return as of June 30, 2020 was -10.95%. |
One Year |
Since
Fund
Inception |
||
(Inception Date: 7/6/2017) | |||
Return Before Taxes | 27.70% | 10.36% | |
Return After Taxes on Distributions1 | 27.03% | 9.70% | |
Return After Taxes on Distributions and Sale of Fund Shares1 | 16.52% | 7.79% | |
Russell 2500TM Index (Index returns do not reflect deductions for fees, expenses, or taxes) | 27.77% | 10.45% |
1 | After-tax returns in the table above are calculated using the historical highest individual U.S. federal marginal income tax rates and do not reflect the impact of state or local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown, and after-tax returns shown are not relevant to tax-exempt investors or investors who hold shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts (“IRAs”). Fund returns after taxes on distributions and sales of Fund shares are calculated assuming that an investor has sufficient capital gains of the same character from other investments to offset any capital losses from the sale of Fund shares. As a result, Fund returns after taxes on distributions and sales of Fund shares may exceed Fund returns before taxes and/or returns after taxes on distributions. |
■ | General Impact. This outbreak has resulted in travel restrictions, closed international borders, enhanced health screenings at ports of entry and elsewhere, disruption of and delays in healthcare service preparation and delivery, prolonged quarantines, cancellations, supply chain disruptions, lower consumer demand, temporary closures of stores, restaurants and other commercial establishments, layoffs, defaults and other significant economic impacts, as well as general concern and uncertainty. |
■ | Market Volatility. The outbreak has also resulted in extreme volatility, severe losses, and disruptions in markets which can adversely impact the Fund and its investments, including impairing hedging activity to the extent a Fund engages in such activity, as expected correlations between related markets or instruments may no longer apply. In addition, to the extent the Fund invests in short-term instruments that have negative yields, the Fund’s value may be impaired as a result. Certain issuers of equity securities have cancelled or announced the suspension of dividends. The outbreak has, and may continue to, negatively affect the credit ratings of some fixed income securities and their issuers. |
■ | Market Closures. Certain local markets have been or may be subject to closures, and there can be no assurance that trading will continue in any local markets in which the Fund may invest, when any resumption of trading will occur or, once such markets resume trading, whether they will face further closures. Any suspension of trading in markets in which the Fund invests will have an impact on the Fund and its investments and will impact the Fund’s ability to purchase or sell securities in such markets. |
■ | Operational Risk. The outbreak could also impair the information technology and other operational systems upon which the Fund’s service providers, including BFA, rely, and could otherwise disrupt the ability of employees of the Fund’s service providers to perform critical tasks relating to the Fund, for example, due to the service providers’ employees performing tasks in alternate locations than under normal operating conditions or the illness of certain employees of the Fund’s service providers. |
■ | Governmental Interventions. Governmental and quasi-governmental authorities and regulators throughout the world have responded to the outbreak and the resulting economic disruptions with a variety of fiscal and monetary policy changes, including direct capital infusions into companies and other issuers, new monetary policy tools, and lower interest rates. An unexpected or sudden reversal of these policies, or the ineffectiveness of such policies, is likely to increase market volatility, which could adversely affect the Fund’s investments. |
■ | Pre-Existing Conditions. Public health crises caused by the outbreak may exacerbate other pre-existing political, social and economic risks in certain countries or globally. |
Approximate
Value of a Creation Unit |
Creation
Unit Size |
Standard
Creation/ Redemption Transaction Fee |
Maximum
Additional
Charge for Creations* |
Maximum
Additional
Charge for Redemptions* |
||||
$1,926,000 | 50,000 | $1,400 | 3.0% | 2.0% |
* | As a percentage of the net asset value per Creation Unit, inclusive, in the case of redemptions, of the standard redemption transaction fee. |
iShares Russell 2500 ETF | |||||
Year
Ended
03/31/20 |
Year
Ended
03/31/19 |
Period
From
07/06/17(a) to 03/31/18 |
|||
Net asset value, beginning of period | $ 44.13 | $ 43.24 | $ 39.34 | ||
Net investment income(b) | 0.72 | 0.65 | 0.42 | ||
Net realized and unrealized gain (loss)(c) | (10.50) | 1.22 | 3.88 | ||
Net increase (decrease) from investment operations | (9.78) | 1.87 | 4.30 | ||
Distributions (d) | |||||
From net investment income | (0.73) | (0.62) | (0.40) | ||
From net realized gain | — | (0.36) | — | ||
Return of capital | — | — | (0.00) (e) | ||
Total distributions | (0.73) | (0.98) | (0.40) | ||
Net asset value, end of period | $ 33.62 | $ 44.13 | $43.24 | ||
Total Return | |||||
Based on net asset value | (22.47)% | 4.49% | 10.96% (f) | ||
Ratios to Average Net Assets | |||||
Total expenses | 0.15% | 0.15% | 0.15% (g) | ||
Total expenses after fees waived | 0.07% | 0.06% | 0.07% (g) | ||
Net investment income | 1.60% | 1.49% | 1.37% (g) | ||
Supplemental Data | |||||
Net assets, end of period (000) | $42,021 | $35,302 | $ 6,486 | ||
Portfolio turnover rate(h) | 14% | 12% | 5% (f) | ||
(a) Commencement of operations. |
|||||
(b) Based on average shares outstanding. | |||||
(c) The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share transactions in relation to the fluctuating market values of the Fund’s underlying securities. | |||||
(d) Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | |||||
(e) Rounds to less than $0.01. | |||||
(f) Not annualized. | |||||
(g) Annualized. | |||||
(h) Portfolio turnover rate excludes in-kind transactions. |
Premium/Discount Range | Number of Days | Percentage of Total Days | ||
Greater than 2.0% and Less than 2.5% | 1 | 0.27% | ||
Greater than 1.0% and Less than 1.5% | 1 | 0.27 | ||
Greater than 0.5% and Less than 1.0% | 1 | 0.27 | ||
Greater than 0.0% and Less than 0.5% | 235 | 62.32 | ||
At NAV | 20 | 5.31 | ||
Less than 0.0% and Greater than -0.5% | 118 | 31.29 | ||
Less than -1.0% and Greater than -1.5% | 1 | 0.27 | ||
377 | 100.00% |
Average Annual Total Returns | Cumulative Total Returns | ||||
1 Year |
Since
Inception |
1 Year |
Since
Inception |
||
Fund NAV | (22.47)% | (3.82)% | (22.47)% | (10.11)% | |
Fund Market | (22.39) | (3.81) | (22.39) | (10.09) | |
Index | (22.47) | (3.80) | (22.47) | (10.05) |
Total returns for the period since inception are calculated from the inception date of the Fund (7/6/17). The first day of secondary market trading in shares of the Fund was 7/7/17. |
Call: |
1-800-iShares
or 1-800-474-2737 (toll free)
Monday through Friday, 8:30 a.m. to 6:30 p.m. (Eastern time) |
Email: | iSharesETFs@blackrock.com |
Write: |
c/o
BlackRock Investments, LLC
1 University Square Drive, Princeton, NJ 08540 |
July 31, 2020 | |
2020 Prospectus |
• |
iShares Russell 3000
ETF | IWV | NYSE ARCA
|
|
S-1 |
|
1 |
|
2 |
|
10 |
|
13 |
|
13 |
|
16 |
|
26 |
|
27 |
|
28 |
|
28 |
|
30 |
Ticker: IWV | Stock Exchange: NYSE Arca |
1 | The amount rounded to 0.00%. |
1 Year | 3 Years | 5 Years | 10 Years | |||
$20 | $64 | $113 | $255 |
1 | The Fund’s year-to-date return as of June 30, 2020 was -3.57%. |
One Year | Five Years | Ten Years | |||
(Inception Date: 5/22/2000) | |||||
Return Before Taxes | 30.78% | 11.07% | 13.23% | ||
Return After Taxes on Distributions1 | 30.22% | 10.58% | 12.79% | ||
Return After Taxes on Distributions and Sale of Fund Shares1 | 18.57% | 8.71% | 11.01% | ||
Russell 3000® Index (Index returns do not reflect deductions for fees, expenses, or taxes) | 31.02% | 11.24% | 13.42% |
1 | After-tax returns in the table above are calculated using the historical highest individual U.S. federal marginal income tax rates and do not reflect the impact of state or local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown, and after-tax returns shown are not relevant to tax-exempt investors or investors who hold shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts (“IRAs”). Fund returns after taxes on distributions and sales of Fund shares are calculated assuming that an investor has sufficient capital gains of the same character from other investments to offset any capital losses from the sale of Fund shares. As a result, Fund returns after taxes on distributions and sales of Fund shares may exceed Fund returns before taxes and/or returns after taxes on distributions. |
■ | General Impact. This outbreak has resulted in travel restrictions, closed international borders, enhanced health screenings at ports of entry and elsewhere, disruption of and delays in healthcare service preparation and delivery, prolonged quarantines, cancellations, supply chain disruptions, lower consumer demand, temporary closures of stores, restaurants and other commercial establishments, layoffs, defaults and other significant economic impacts, as well as general concern and uncertainty. |
■ | Market Volatility. The outbreak has also resulted in extreme volatility, severe losses, and disruptions in markets which can adversely impact the Fund and its investments, including impairing hedging activity to the extent a Fund engages in such activity, as expected correlations between related markets or instruments may no longer apply. In addition, to the extent the Fund invests in short-term instruments that have negative yields, the Fund’s value may be impaired as a result. Certain issuers of equity securities have cancelled or announced the suspension of dividends. The outbreak has, and may continue to, negatively affect the credit ratings of some fixed income securities and their issuers. |
■ | Market Closures. Certain local markets have been or may be subject to closures, and there can be no assurance that trading will continue in any local markets in which the Fund may invest, when any resumption of trading will occur or, once such markets resume trading, whether they will face further closures. Any suspension of trading in markets in which the Fund invests will have an impact on the Fund and its investments and will impact the Fund’s ability to purchase or sell securities in such markets. |
■ | Operational Risk. The outbreak could also impair the information technology and other operational systems upon which the Fund’s service providers, including BFA, rely, and could otherwise disrupt the ability of employees of the Fund’s service providers to perform critical tasks relating to the Fund, for example, due to the service providers’ employees performing tasks in alternate locations than under normal operating conditions or the illness of certain employees of the Fund’s service providers. |
■ | Governmental Interventions. Governmental and quasi-governmental authorities and regulators throughout the world have responded to the outbreak and the resulting economic disruptions with a variety of fiscal and monetary policy changes, including direct capital infusions into companies and other issuers, new monetary policy |
tools, and lower interest rates. An unexpected or sudden reversal of these policies, or the ineffectiveness of such policies, is likely to increase market volatility, which could adversely affect the Fund’s investments. | |
■ | Pre-Existing Conditions. Public health crises caused by the outbreak may exacerbate other pre-existing political, social and economic risks in certain countries or globally. |
Approximate
Value of a Creation Unit |
Creation
Unit Size |
Standard
Creation/ Redemption Transaction Fee |
Maximum
Additional
Charge for Creations* |
Maximum
Additional
Charge for Redemptions* |
||||
$8,396,500 | 50,000 | $3,000 | 3.0% | 2.0% |
* | As a percentage of the net asset value per Creation Unit, inclusive, in the case of redemptions, of the standard redemption transaction fee. |
iShares Russell 3000 ETF | |||||||||
Year
Ended
03/31/20 |
Year
Ended
03/31/19 |
Year
Ended
03/31/18 |
Year
Ended
03/31/17 |
Year
Ended
03/31/16 |
|||||
Net asset value, beginning of year | $ 166.74 | $ 156.30 | $ 139.89 | $ 120.86 | $ 123.93 | ||||
Net investment income(a) | 2.91 | 2.78 | 2.53 | 2.34 | 2.23 | ||||
Net realized and unrealized gain (loss)(b) | (18.04) | 10.52 | 16.45 | 19.07 | (2.84) | ||||
Net increase (decrease) from investment operations | (15.13) | 13.30 | 18.98 | 21.41 | (0.61) | ||||
Distributions (c) | |||||||||
From net investment income | (3.30) | (2.86) | (2.57) | (2.38) | (2.46) | ||||
Total distributions | (3.30) | (2.86) | (2.57) | (2.38) | (2.46) | ||||
Net asset value, end of year | $ 148.31 | $ 166.74 | $ 156.30 | $ 139.89 | $ 120.86 | ||||
Total Return | |||||||||
Based on net asset value | (9.29)% | 8.59% | 13.64% | 17.87% | (0.47)% | ||||
Ratios to Average Net Assets | |||||||||
Total expenses | 0.20% | 0.20% | 0.20% | 0.20% | 0.20% | ||||
Net investment income | 1.69% | 1.72% | 1.68% | 1.81% | 1.85% | ||||
Supplemental Data | |||||||||
Net assets, end of year (000) | $8,230,988 | $9,379,045 | $8,182,126 | $7,379,312 | $6,012,841 | ||||
Portfolio turnover rate(d) | 5% | 5% | 4% | 4% | 5% | ||||
(a) Based on average shares outstanding. |
|||||||||
(b) The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share transactions in relation to the fluctuating market values of the Fund’s underlying securities. | |||||||||
(c) Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | |||||||||
(d) Portfolio turnover rate excludes in-kind transactions. |
Premium/Discount Range | Number of Days | Percentage of Total Days | ||
Greater than 0.0% and Less than 0.5% | 122 | 32.37% | ||
At NAV | 77 | 20.42 | ||
Less than 0.0% and Greater than -0.5% | 178 | 47.21 | ||
377 | 100.00% |
Average Annual Total Returns | Cumulative Total Returns | ||||||
1 Year | 5 Years | 10 Years | 1 Year | 5 Years | 10 Years | ||
Fund NAV | (9.29)% | 5.60% | 9.97% | (9.29)% | 31.32% | 158.60% | |
Fund Market | (9.28) | 5.60 | 9.97 | (9.28) | 31.31 | 158.60 | |
Index | (9.13) | 5.77 | 10.15 | (9.13) | 32.36 | 162.92 |
Call: |
1-800-iShares
or 1-800-474-2737 (toll free)
Monday through Friday, 8:30 a.m. to 6:30 p.m. (Eastern time) |
Email: | iSharesETFs@blackrock.com |
Write: |
c/o
BlackRock Investments, LLC
1 University Square Drive, Princeton, NJ 08540 |
July 31, 2020 | |
2020 Prospectus |
• |
iShares Russell Mid-Cap
ETF | IWR | NYSE ARCA
|
|
S-1 |
|
1 |
|
2 |
|
10 |
|
16 |
|
16 |
|
19 |
|
28 |
|
29 |
|
30 |
|
30 |
|
32 |
Ticker: IWR | Stock Exchange: NYSE Arca |
1 | The amount rounded to 0.00%. |
1 Year | 3 Years | 5 Years | 10 Years | |||
$19 | $61 | $107 | $243 |
1 | The Fund’s year-to-date return as of June 30, 2020 was -9.18%. |
One Year | Five Years | Ten Years | |||
(Inception Date: 7/17/2001) | |||||
Return Before Taxes | 30.31% | 9.17% | 13.02% | ||
Return After Taxes on Distributions1 | 29.82% | 8.69% | 12.59% | ||
Return After Taxes on Distributions and Sale of Fund Shares1 | 18.22% | 7.12% | 10.81% | ||
Russell Midcap® Index (Index returns do not reflect deductions for fees, expenses, or taxes) | 30.54% | 9.33% | 13.19% |
1 | After-tax returns in the table above are calculated using the historical highest individual U.S. federal marginal income tax rates and do not reflect the impact of state or local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown, and after-tax returns shown are not relevant to tax-exempt investors or investors who hold shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts (“IRAs”). Fund returns after taxes on distributions and sales of Fund shares are calculated assuming that an investor has sufficient capital gains of the same character from other investments to offset any capital losses from the sale of Fund shares. As a result, Fund returns after taxes on distributions and sales of Fund shares may exceed Fund returns before taxes and/or returns after taxes on distributions. |
■ | General Impact. This outbreak has resulted in travel restrictions, closed international borders, enhanced health screenings at ports of entry and elsewhere, disruption of and delays in healthcare service preparation and delivery, prolonged quarantines, cancellations, supply chain disruptions, lower consumer demand, temporary closures of stores, restaurants and other commercial establishments, layoffs, defaults and other significant economic impacts, as well as general concern and uncertainty. |
■ | Market Volatility. The outbreak has also resulted in extreme volatility, severe losses, and disruptions in markets which can adversely impact the Fund and its investments, including impairing hedging activity to the extent a Fund engages in such activity, as expected correlations between related markets or instruments may no longer apply. In addition, to the extent the Fund invests in short-term instruments that have negative yields, the Fund’s value may be impaired as a result. Certain issuers of equity securities have cancelled or announced the suspension of dividends. The outbreak has, and may continue to, negatively affect the credit ratings of some fixed income securities and their issuers. |
■ | Market Closures. Certain local markets have been or may be subject to closures, and there can be no assurance that trading will continue in any local markets in which the Fund may invest, when any resumption of trading will occur or, once such markets resume trading, whether they will face further closures. Any suspension of |
trading in markets in which the Fund invests will have an impact on the Fund and its investments and will impact the Fund’s ability to purchase or sell securities in such markets. | |
■ | Operational Risk. The outbreak could also impair the information technology and other operational systems upon which the Fund’s service providers, including BFA, rely, and could otherwise disrupt the ability of employees of the Fund’s service providers to perform critical tasks relating to the Fund, for example, due to the service providers’ employees performing tasks in alternate locations than under normal operating conditions or the illness of certain employees of the Fund’s service providers. |
■ | Governmental Interventions. Governmental and quasi-governmental authorities and regulators throughout the world have responded to the outbreak and the resulting economic disruptions with a variety of fiscal and monetary policy changes, including direct capital infusions into companies and other issuers, new monetary policy tools, and lower interest rates. An unexpected or sudden reversal of these policies, or the ineffectiveness of such policies, is likely to increase market volatility, which could adversely affect the Fund’s investments. |
■ | Pre-Existing Conditions. Public health crises caused by the outbreak may exacerbate other pre-existing political, social and economic risks in certain countries or globally. |
Approximate
Value of a Creation Unit |
Creation
Unit Size |
Standard
Creation/ Redemption Transaction Fee |
Maximum
Additional
Charge for Creations* |
Maximum
Additional
Charge for Redemptions* |
||||
$2,470,000 | 50,000 | $2,000 | 3.0% | 2.0% |
* | As a percentage of the net asset value per Creation Unit, inclusive, in the case of redemptions, of the standard redemption transaction fee. |
Premium/Discount Range | Number of Days | Percentage of Total Days | ||
Greater than 0.0% and Less than 0.5% | 143 | 37.93% | ||
At NAV | 85 | 22.55 | ||
Less than 0.0% and Greater than -0.5% | 149 | 39.52 | ||
377 | 100.00% |
Average Annual Total Returns | Cumulative Total Returns | ||||||
1 Year | 5 Years | 10 Years | 1 Year | 5 Years | 10 Years | ||
Fund NAV | (18.44)% | 1.70% | 8.60% | (18.44)% | 8.78% | 128.24% | |
Fund Market | (18.43) | 1.70 | 8.61 | (18.43) | 8.78 | 128.36 | |
Index | (18.31) | 1.85 | 8.77 | (18.31) | 9.59 | 131.74 |
Call: |
1-800-iShares
or 1-800-474-2737 (toll free)
Monday through Friday, 8:30 a.m. to 6:30 p.m. (Eastern time) |
Email: | iSharesETFs@blackrock.com |
Write: |
c/o
BlackRock Investments, LLC
1 University Square Drive, Princeton, NJ 08540 |
July 31, 2020 | |
2020 Prospectus |
• |
iShares Russell Mid-Cap
Growth ETF | IWP | NYSE ARCA
|
|
S-1 |
|
1 |
|
2 |
|
10 |
|
13 |
|
13 |
|
16 |
|
26 |
|
27 |
|
28 |
|
28 |
|
30 |
Ticker: IWP | Stock Exchange: NYSE Arca |
1 | The amount rounded to 0.00%. |
1 Year | 3 Years | 5 Years | 10 Years | |||
$25 | $77 | $135 | $306 |
1 | The Fund’s year-to-date return as of June 30, 2020 was 4.04%. |
One Year | Five Years | Ten Years | |||
(Inception Date: 7/17/2001) | |||||
Return Before Taxes | 35.14% | 11.37% | 14.01% | ||
Return After Taxes on Distributions1 | 34.93% | 11.13% | 13.77% | ||
Return After Taxes on Distributions and Sale of Fund Shares1 | 20.93% | 9.01% | 11.77% | ||
Russell Midcap® Growth Index (Index returns do not reflect deductions for fees, expenses, or taxes) | 35.47% | 11.60% | 14.24% |
1 | After-tax returns in the table above are calculated using the historical highest individual U.S. federal marginal income tax rates and do not reflect the impact of state or local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown, and after-tax returns shown are not relevant to tax-exempt investors or investors who hold shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts (“IRAs”). Fund returns after taxes on distributions and sales of Fund shares are calculated assuming that an investor has sufficient capital gains of the same character from other investments to offset any capital losses from the sale of Fund shares. As a result, Fund returns after taxes on distributions and sales of Fund shares may exceed Fund returns before taxes and/or returns after taxes on distributions. |
■ | General Impact. This outbreak has resulted in travel restrictions, closed international borders, enhanced health screenings at ports of entry and elsewhere, disruption of and delays in healthcare service preparation and delivery, prolonged quarantines, cancellations, supply chain disruptions, lower consumer demand, temporary |
closures of stores, restaurants and other commercial establishments, layoffs, defaults and other significant economic impacts, as well as general concern and uncertainty. | |
■ | Market Volatility. The outbreak has also resulted in extreme volatility, severe losses, and disruptions in markets which can adversely impact the Fund and its investments, including impairing hedging activity to the extent a Fund engages in such activity, as expected correlations between related markets or instruments may no longer apply. In addition, to the extent the Fund invests in short-term instruments that have negative yields, the Fund’s value may be impaired as a result. Certain issuers of equity securities have cancelled or announced the suspension of dividends. The outbreak has, and may continue to, negatively affect the credit ratings of some fixed income securities and their issuers. |
■ | Market Closures. Certain local markets have been or may be subject to closures, and there can be no assurance that trading will continue in any local markets in which the Fund may invest, when any resumption of trading will occur or, once such markets resume trading, whether they will face further closures. Any suspension of trading in markets in which the Fund invests will have an impact on the Fund and its investments and will impact the Fund’s ability to purchase or sell securities in such markets. |
■ | Operational Risk. The outbreak could also impair the information technology and other operational systems upon which the Fund’s service providers, including BFA, rely, and could otherwise disrupt the ability of employees of the Fund’s service providers to perform critical tasks relating to the Fund, for example, due to the service providers’ employees performing tasks in alternate locations than under normal operating conditions or the illness of certain employees of the Fund’s service providers. |
■ | Governmental Interventions. Governmental and quasi-governmental authorities and regulators throughout the world have responded to the outbreak and the resulting economic disruptions with a variety of fiscal and monetary policy changes, including direct capital infusions into companies and other issuers, new monetary policy tools, and lower interest rates. An unexpected or sudden reversal of these policies, or the ineffectiveness of such policies, is likely to increase market volatility, which could adversely affect the Fund’s investments. |
■ | Pre-Existing Conditions. Public health crises caused by the outbreak may exacerbate other pre-existing political, social and economic risks in certain countries or globally. |
Approximate
Value of a Creation Unit |
Creation
Unit Size |
Standard
Creation/ Redemption Transaction Fee |
Maximum
Additional
Charge for Creations* |
Maximum
Additional
Charge for Redemptions* |
||||
$7,038,000 | 50,000 | $1,150 | 3.0% | 2.0% |
* | As a percentage of the net asset value per Creation Unit, inclusive, in the case of redemptions, of the standard redemption transaction fee. |
iShares Russell Mid-Cap Growth ETF | |||||||||
Year
Ended
03/31/20 |
Year
Ended
03/31/19 |
Year
Ended
03/31/18 |
Year
Ended
03/31/17 |
Year
Ended
03/31/16 |
|||||
Net asset value, beginning of year | $ 135.61 | $ 122.92 | $ 103.80 | $ 92.16 | $ 97.98 | ||||
Net investment income(a) | 0.94 | 1.12 | 0.96 | 0.91 | 0.96 | ||||
Net realized and unrealized gain (loss)(b) | (13.95) | 12.69 | 19.16 | 11.78 | (5.78) | ||||
Net increase (decrease) from investment operations | (13.01) | 13.81 | 20.12 | 12.69 | (4.82) | ||||
Distributions (c) | |||||||||
From net investment income | (0.89) | (1.12) | (1.00) | (1.05) | (1.00) | ||||
Total distributions | (0.89) | (1.12) | (1.00) | (1.05) | (1.00) | ||||
Net asset value, end of year | $ 121.71 | $ 135.61 | $ 122.92 | $ 103.80 | $ 92.16 | ||||
Total Return | |||||||||
Based on net asset value | (9.67)% | 11.28% | 19.46% | 13.85% | (4.91)% | ||||
Ratios to Average Net Assets | |||||||||
Total expenses | 0.24% | 0.24% | 0.24% | 0.25% | 0.25% | ||||
Net investment income | 0.65% | 0.88% | 0.84% | 0.94% | 1.03% | ||||
Supplemental Data | |||||||||
Net assets, end of year (000) | $9,353,644 | $10,217,865 | $8,561,654 | $7,240,120 | $6,059,739 | ||||
Portfolio turnover rate(d) | 23% | 20% | 24% | 27% | 22% | ||||
(a) Based on average shares outstanding. |
|||||||||
(b) The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share transactions in relation to the fluctuating market values of the Fund’s underlying securities. | |||||||||
(c) Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | |||||||||
(d) Portfolio turnover rate excludes in-kind transactions. |
Premium/Discount Range | Number of Days | Percentage of Total Days | ||
Greater than 0.0% and Less than 0.5% | 137 | 36.34% | ||
At NAV | 92 | 24.40 | ||
Less than 0.0% and Greater than -0.5% | 148 | 39.26 | ||
377 | 100.00% |
Average Annual Total Returns | Cumulative Total Returns | ||||||
1 Year | 5 Years | 10 Years | 1 Year | 5 Years | 10 Years | ||
Fund NAV | (9.67)% | 5.39% | 10.66% | (9.67)% | 30.00% | 175.48% | |
Fund Market | (9.72) | 5.37 | 10.66 | (9.72) | 29.92 | 175.47 | |
Index | (9.45) | 5.61 | 10.89 | (9.45) | 31.37 | 181.13 |
Call: |
1-800-iShares
or 1-800-474-2737 (toll free)
Monday through Friday, 8:30 a.m. to 6:30 p.m. (Eastern time) |
Email: | iSharesETFs@blackrock.com |
Write: |
c/o
BlackRock Investments, LLC
1 University Square Drive, Princeton, NJ 08540 |
July 31, 2020 | |
2020 Prospectus |
• |
iShares Russell Mid-Cap
Value ETF | IWS | NYSE ARCA
|
|
S-1 |
|
1 |
|
2 |
|
10 |
|
16 |
|
16 |
|
19 |
|
28 |
|
29 |
|
30 |
|
30 |
|
32 |
Ticker: IWS | Stock Exchange: NYSE Arca |
1 | The amount rounded to 0.00%. |
1 Year | 3 Years | 5 Years | 10 Years | |||
$25 | $77 | $135 | $306 |
1 | The Fund’s year-to-date return as of June 30, 2020 was -18.16%. |
One Year | Five Years | Ten Years | |||
(Inception Date: 7/17/2001) | |||||
Return Before Taxes | 26.78% | 7.41% | 12.18% | ||
Return After Taxes on Distributions1 | 26.11% | 6.78% | 11.61% | ||
Return After Taxes on Distributions and Sale of Fund Shares1 | 16.20% | 5.66% | 10.01% | ||
Russell Midcap® Value Index (Index returns do not reflect deductions for fees, expenses, or taxes) | 27.06% | 7.62% | 12.41% |
1 | After-tax returns in the table above are calculated using the historical highest individual U.S. federal marginal income tax rates and do not reflect the impact of state or local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown, and after-tax returns shown are not relevant to tax-exempt investors or investors who hold shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts (“IRAs”). Fund returns after taxes on distributions and sales of Fund shares are calculated assuming that an investor has sufficient capital gains of the same character from other investments to offset any capital losses from the sale of Fund shares. As a result, Fund returns after taxes on distributions and sales of Fund shares may exceed Fund returns before taxes and/or returns after taxes on distributions. |
■ | General Impact. This outbreak has resulted in travel restrictions, closed international borders, enhanced health screenings at ports of entry and elsewhere, disruption of and delays in healthcare service preparation and delivery, prolonged quarantines, cancellations, supply chain disruptions, lower consumer demand, temporary closures of stores, restaurants and other commercial establishments, layoffs, defaults and other significant economic impacts, as well as general concern and uncertainty. |
■ | Market Volatility. The outbreak has also resulted in extreme volatility, severe losses, and disruptions in markets which can adversely impact the Fund and its investments, including impairing hedging activity to the extent a Fund engages in such activity, as expected correlations between related markets or instruments may no longer apply. In addition, to the extent the Fund invests in short-term instruments that have negative yields, the Fund’s value may be impaired as a result. Certain issuers of equity securities have cancelled or announced the suspension of dividends. The outbreak has, and may continue to, negatively affect the credit ratings of some fixed income securities and their issuers. |
■ | Market Closures. Certain local markets have been or may be subject to closures, and there can be no assurance that trading will continue in any local markets in which the Fund may invest, when any resumption of trading will occur or, once such markets resume trading, whether they will face further closures. Any suspension of trading in markets in which the Fund invests will have an impact on the Fund and its investments and will impact the Fund’s ability to purchase or sell securities in such markets. |
■ | Operational Risk. The outbreak could also impair the information technology and other operational systems upon which the Fund’s service providers, including BFA, rely, and could otherwise disrupt the ability of employees of the Fund’s service providers to perform critical tasks relating to the Fund, for example, due to the service providers’ employees performing tasks in alternate locations than under normal operating conditions or the illness of certain employees of the Fund’s service providers. |
■ | Governmental Interventions. Governmental and quasi-governmental authorities and regulators throughout the world have responded to the outbreak and the resulting economic disruptions with a variety of fiscal and monetary policy changes, including direct capital infusions into companies and other issuers, new monetary policy tools, and lower interest rates. An unexpected or sudden reversal of these policies, or the ineffectiveness of such policies, is likely to increase market volatility, which could adversely affect the Fund’s investments. |
■ | Pre-Existing Conditions. Public health crises caused by the outbreak may exacerbate other pre-existing political, social and economic risks in certain countries or globally. |
Approximate
Value of a Creation Unit |
Creation
Unit Size |
Standard
Creation/ Redemption Transaction Fee |
Maximum
Additional
Charge for Creations* |
Maximum
Additional
Charge for Redemptions* |
||||
$3,632,500 | 50,000 | $1,400 | 3.0% | 2.0% |
* | As a percentage of the net asset value per Creation Unit, inclusive, in the case of redemptions, of the standard redemption transaction fee. |
iShares Russell Mid-Cap Value ETF | |||||||||
Year
Ended
03/31/20 |
Year
Ended
03/31/19 |
Year
Ended
03/31/18 |
Year
Ended
03/31/17 |
Year
Ended
03/31/16 |
|||||
Net asset value, beginning of year | $ 86.86 | $ 86.44 | $ 83.02 | $ 70.95 | $ 75.23 | ||||
Net investment income(a) | 1.93 | 1.67 | 1.69 | 1.55 | 1.45 | ||||
Net realized and unrealized gain (loss)(b) | (22.63) | 0.70 | 3.48 | 12.18 | (4.16) | ||||
Net increase (decrease) from investment operations | (20.70) | 2.37 | 5.17 | 13.73 | (2.71) | ||||
Distributions (c) | |||||||||
From net investment income | (2.06) | (1.95) | (1.75) | (1.66) | (1.57) | ||||
Total distributions | (2.06) | (1.95) | (1.75) | (1.66) | (1.57) | ||||
Net asset value, end of year | $ 64.10 | $ 86.86 | $ 86.44 | $ 83.02 | $ 70.95 | ||||
Total Return | |||||||||
Based on net asset value | (24.28)% | 2.78% | 6.28% | 19.51% | (3.56)% | ||||
Ratios to Average Net Assets | |||||||||
Total expenses | 0.24% | 0.24% | 0.24% | 0.25% | 0.25% | ||||
Net investment income | 2.18% | 1.93% | 1.98% | 2.00% | 2.05% | ||||
Supplemental Data | |||||||||
Net assets, end of year (000) | $8,201,945 | $11,218,007 | $10,533,292 | $9,555,303 | $6,850,265 | ||||
Portfolio turnover rate(d) | 20% | 25% | 20% | 21% | 25% | ||||
(a) Based on average shares outstanding. |
|||||||||
(b) The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share transactions in relation to the fluctuating market values of the Fund’s underlying securities. | |||||||||
(c) Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | |||||||||
(d) Portfolio turnover rate excludes in-kind transactions. |
Premium/Discount Range | Number of Days | Percentage of Total Days | ||
Greater than 0.0% and Less than 0.5% | 135 | 35.81% | ||
At NAV | 74 | 19.63 | ||
Less than 0.0% and Greater than -0.5% | 168 | 44.56 | ||
377 | 100.00% |
Average Annual Total Returns | Cumulative Total Returns | ||||||
1 Year | 5 Years | 10 Years | 1 Year | 5 Years | 10 Years | ||
Fund NAV | (24.28)% | (0.95)% | 7.00% | (24.28)% | (4.66)% | 96.80% | |
Fund Market | (24.25) | (0.95) | 7.01 | (24.25) | (4.65) | 96.93 | |
Index | (24.13) | (0.76) | 7.22 | (24.13) | (3.76) | 100.78 |
Call: |
1-800-iShares
or 1-800-474-2737 (toll free)
Monday through Friday, 8:30 a.m. to 6:30 p.m. (Eastern time) |
Email: | iSharesETFs@blackrock.com |
Write: |
c/o
BlackRock Investments, LLC
1 University Square Drive, Princeton, NJ 08540 |
July 31, 2020 | |
2020 Prospectus |
• |
iShares Russell Top 200
ETF | IWL | NYSE ARCA
|
|
S-1 |
|
1 |
|
2 |
|
10 |
|
13 |
|
13 |
|
16 |
|
25 |
|
26 |
|
27 |
|
27 |
|
29 |
Ticker: IWL | Stock Exchange: NYSE Arca |
1 | The amount rounded to 0.00%. |
1 Year | 3 Years | 5 Years | 10 Years | |||
$15 | $48 | $85 | $192 |
1 | The Fund’s year-to-date return as of June 30, 2020 was -0.55%. |
One Year | Five Years | Ten Years | |||
(Inception Date: 9/22/2009) | |||||
Return Before Taxes | 31.54% | 12.17% | 13.48% | ||
Return After Taxes on Distributions1 | 30.87% | 11.64% | 12.98% | ||
Return After Taxes on Distributions and Sale of Fund Shares1 | 19.07% | 9.61% | 11.21% | ||
Russell Top 200® Index (Index returns do not reflect deductions for fees, expenses, or taxes) | 31.75% | 12.34% | 13.67% |
1 | After-tax returns in the table above are calculated using the historical highest individual U.S. federal marginal income tax rates and do not reflect the impact of state or local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown, and after-tax returns shown are not relevant to tax-exempt investors or investors who hold shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts (“IRAs”). Fund returns after taxes on distributions and sales of Fund shares are calculated assuming that an investor has sufficient capital gains of the same character from other investments to offset any capital losses from the sale of Fund shares. As a result, Fund returns after taxes on distributions and sales of Fund shares may exceed Fund returns before taxes and/or returns after taxes on distributions. |
■ | General Impact. This outbreak has resulted in travel restrictions, closed international borders, enhanced health screenings at ports of entry and elsewhere, disruption of and delays in healthcare service preparation and delivery, prolonged quarantines, cancellations, supply chain disruptions, lower consumer demand, temporary closures of stores, restaurants and other commercial establishments, layoffs, defaults and other significant economic impacts, as well as general concern and uncertainty. |
■ | Market Volatility. The outbreak has also resulted in extreme volatility, severe losses, and disruptions in markets which can adversely impact the Fund and its investments, including impairing hedging activity to the extent a Fund engages in such activity, as expected correlations between related markets or instruments may no longer apply. In addition, to the extent the Fund invests in short-term instruments that have negative yields, the Fund’s value may be impaired as a result. Certain |
issuers of equity securities have cancelled or announced the suspension of dividends. The outbreak has, and may continue to, negatively affect the credit ratings of some fixed income securities and their issuers. | |
■ | Market Closures. Certain local markets have been or may be subject to closures, and there can be no assurance that trading will continue in any local markets in which the Fund may invest, when any resumption of trading will occur or, once such markets resume trading, whether they will face further closures. Any suspension of trading in markets in which the Fund invests will have an impact on the Fund and its investments and will impact the Fund’s ability to purchase or sell securities in such markets. |
■ | Operational Risk. The outbreak could also impair the information technology and other operational systems upon which the Fund’s service providers, including BFA, rely, and could otherwise disrupt the ability of employees of the Fund’s service providers to perform critical tasks relating to the Fund, for example, due to the service providers’ employees performing tasks in alternate locations than under normal operating conditions or the illness of certain employees of the Fund’s service providers. |
■ | Governmental Interventions. Governmental and quasi-governmental authorities and regulators throughout the world have responded to the outbreak and the resulting economic disruptions with a variety of fiscal and monetary policy changes, including direct capital infusions into companies and other issuers, new monetary policy tools, and lower interest rates. An unexpected or sudden reversal of these policies, or the ineffectiveness of such policies, is likely to increase market volatility, which could adversely affect the Fund’s investments. |
■ | Pre-Existing Conditions. Public health crises caused by the outbreak may exacerbate other pre-existing political, social and economic risks in certain countries or globally. |
Approximate
Value of a Creation Unit |
Creation
Unit Size |
Standard
Creation/ Redemption Transaction Fee |
Maximum
Additional
Charge for Creations* |
Maximum
Additional
Charge for Redemptions* |
||||
$3,471,500 | 50,000 | $500 | 3.0% | 2.0% |
* | As a percentage of the net asset value per Creation Unit, inclusive, in the case of redemptions, of the standard redemption transaction fee. |
iShares Russell Top 200 ETF | |||||||||
Year
Ended
03/31/20 |
Year
Ended
03/31/19 |
Year
Ended
03/31/18 |
Year
Ended
03/31/17 |
Year
Ended
03/31/16 |
|||||
Net asset value, beginning of year | $ 65.66 | $ 60.63 | $ 53.88 | $ 46.83 | $ 46.70 | ||||
Net investment income(a) | 1.28 | 1.21 | 1.08 | 1.00 | 0.96 | ||||
Net realized and unrealized gain (loss)(b) | (3.94) | 4.97 | 6.71 | 7.06 | 0.14 | ||||
Net increase (decrease) from investment operations | (2.66) | 6.18 | 7.79 | 8.06 | 1.10 | ||||
Distributions (c) | |||||||||
From net investment income | (1.46) | (1.15) | (1.04) | (1.01) | (0.97) | ||||
Total distributions | (1.46) | (1.15) | (1.04) | (1.01) | (0.97) | ||||
Net asset value, end of year | $ 61.54 | $ 65.66 | $ 60.63 | $ 53.88 | $ 46.83 | ||||
Total Return | |||||||||
Based on net asset value | (4.24)% | 10.27% | 14.55% | 17.38% | 2.40% | ||||
Ratios to Average Net Assets | |||||||||
Total expenses | 0.15% | 0.15% | 0.15% | 0.15% | 0.15% | ||||
Net investment income | 1.82% | 1.91% | 1.84% | 2.01% | 2.06% | ||||
Supplemental Data | |||||||||
Net assets, end of year (000) | $369,243 | $213,382 | $136,411 | $102,364 | $88,979 | ||||
Portfolio turnover rate(d) | 5% | 5% | 5% | 7% | 7% | ||||
(a) Based on average shares outstanding. |
|||||||||
(b) The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share transactions in relation to the fluctuating market values of the Fund’s underlying securities. | |||||||||
(c) Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | |||||||||
(d) Portfolio turnover rate excludes in-kind transactions. |
Premium/Discount Range | Number of Days | Percentage of Total Days | ||
Greater than 0.0% and Less than 0.5% | 174 | 46.16% | ||
At NAV | 75 | 19.89 | ||
Less than 0.0% and Greater than -0.5% | 128 | 33.95 | ||
377 | 100.00% |
Average Annual Total Returns | Cumulative Total Returns | ||||||
1 Year | 5 Years | 10 Years | 1 Year | 5 Years | 10 Years | ||
Fund NAV | (4.24)% | 7.77% | 10.80% | (4.24)% | 45.39% | 178.89% | |
Fund Market | (4.26) | 7.76 | 10.79 | (4.26) | 45.32 | 178.72 | |
Index | (4.08) | 7.93 | 10.98 | (4.08) | 46.46 | 183.44 |
Call: |
1-800-iShares
or 1-800-474-2737 (toll free)
Monday through Friday, 8:30 a.m. to 6:30 p.m. (Eastern time) |
Email: | iSharesETFs@blackrock.com |
Write: |
c/o
BlackRock Investments, LLC
1 University Square Drive, Princeton, NJ 08540 |
July 31, 2020 | |
2020 Prospectus |
• |
iShares Russell Top 200
Growth ETF | IWY | NYSE ARCA
|
|
S-1 |
|
1 |
|
2 |
|
10 |
|
12 |
|
12 |
|
15 |
|
24 |
|
25 |
|
26 |
|
26 |
|
28 |
Ticker: IWY | Stock Exchange: NYSE Arca |
1 | The amount rounded to 0.00%. |
1 Year | 3 Years | 5 Years | 10 Years | |||
$20 | $64 | $113 | $255 |
1 | The Fund’s year-to-date return as of June 30, 2020 was 11.13%. |
One Year | Five Years | Ten Years | |||
(Inception Date: 9/22/2009) | |||||
Return Before Taxes | 36.43% | 15.49% | 15.36% | ||
Return After Taxes on Distributions1 | 36.05% | 15.10% | 15.00% | ||
Return After Taxes on Distributions and Sale of Fund Shares1 | 21.79% | 12.40% | 12.94% | ||
Russell Top 200® Growth Index (Index returns do not reflect deductions for fees, expenses, or taxes) | 36.48% | 15.69% | 15.58% |
1 | After-tax returns in the table above are calculated using the historical highest individual U.S. federal marginal income tax rates and do not reflect the impact of state or local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown, and after-tax returns shown are not relevant to tax-exempt investors or investors who hold shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts (“IRAs”). Fund returns after taxes on distributions and sales of Fund shares are calculated assuming that an investor has sufficient capital gains of the same character from other investments to offset any capital losses from the sale of Fund shares. As a result, Fund returns after taxes on distributions and sales of Fund shares may exceed Fund returns before taxes and/or returns after taxes on distributions. |
■ | General Impact. This outbreak has resulted in travel restrictions, closed international borders, enhanced health screenings at ports of entry and elsewhere, disruption of and delays in healthcare service preparation and delivery, prolonged quarantines, cancellations, supply chain disruptions, lower consumer demand, temporary closures of stores, restaurants and other commercial establishments, layoffs, defaults and other significant economic impacts, as well as general concern and uncertainty. |
■ | Market Volatility. The outbreak has also resulted in extreme volatility, severe losses, and disruptions in markets which can adversely impact the Fund and its investments, including impairing hedging activity to the extent a Fund engages in such activity, as expected correlations between related markets or instruments may no longer apply. In addition, to the extent the Fund invests in short-term instruments that have negative yields, the Fund’s value may be impaired as a result. Certain issuers of equity securities have cancelled or announced the suspension of dividends. The outbreak has, and may continue to, negatively affect the credit ratings of some fixed income securities and their issuers. |
■ | Market Closures. Certain local markets have been or may be subject to closures, and there can be no assurance that trading will continue in any local markets in which the Fund may invest, when any resumption of trading will occur or, once such markets resume trading, whether they will face further closures. Any suspension of trading in markets in which the Fund invests will have an impact on the Fund and its investments and will impact the Fund’s ability to purchase or sell securities in such markets. |
■ | Operational Risk. The outbreak could also impair the information technology and other operational systems upon which the Fund’s service providers, including BFA, rely, and could otherwise disrupt the ability of employees of the Fund’s service providers to perform critical tasks relating to the Fund, for example, due to the service providers’ employees performing tasks in alternate locations than under normal operating conditions or the illness of certain employees of the Fund’s service providers. |
■ | Governmental Interventions. Governmental and quasi-governmental authorities and regulators throughout the world have responded to the outbreak and the resulting economic disruptions with a variety of fiscal and monetary policy changes, including direct capital infusions into companies and other issuers, new monetary policy tools, and lower interest rates. An unexpected or sudden reversal of these policies, or the ineffectiveness of such policies, is likely to increase market volatility, which could adversely affect the Fund’s investments. |
■ | Pre-Existing Conditions. Public health crises caused by the outbreak may exacerbate other pre-existing political, social and economic risks in certain countries or globally. |
Approximate
Value of a Creation Unit |
Creation
Unit Size |
Standard
Creation/ Redemption Transaction Fee |
Maximum
Additional
Charge for Creations* |
Maximum
Additional
Charge for Redemptions* |
||||
$4,819,500 | 50,000 | $300 | 3.0% | 2.0% |
* | As a percentage of the net asset value per Creation Unit, inclusive, in the case of redemptions, of the standard redemption transaction fee. |
iShares Russell Top 200 Growth ETF | |||||||||
Year
Ended
03/31/20 |
Year
Ended
03/31/19 |
Year
Ended
03/31/18 |
Year
Ended
03/31/17 |
Year
Ended
03/31/16 |
|||||
Net asset value, beginning of year | $ 82.24 | $ 73.61 | $ 61.44 | $ 53.74 | $ 51.75 | ||||
Net investment income(a) | 1.04 | 1.00 | 0.92 | 0.86 | 0.83 | ||||
Net realized and unrealized gain(b) | 1.90 | 8.60 | 12.18 | 7.69 | 2.00 | ||||
Net increase from investment operations | 2.94 | 9.60 | 13.10 | 8.55 | 2.83 | ||||
Distributions (c) | |||||||||
From net investment income | (1.04) | (0.97) | (0.93) | (0.85) | (0.84) | ||||
Total distributions | (1.04) | (0.97) | (0.93) | (0.85) | (0.84) | ||||
Net asset value, end of year | $ 84.14 | $ 82.24 | $ 73.61 | $ 61.44 | $ 53.74 | ||||
Total Return | |||||||||
Based on net asset value | 3.55% | 13.11% | 21.43% | 16.06% | 5.52% | ||||
Ratios to Average Net Assets | |||||||||
Total expenses | 0.20% | 0.20% | 0.20% | 0.20% | 0.20% | ||||
Net investment income | 1.16% | 1.27% | 1.33% | 1.52% | 1.59% | ||||
Supplemental Data | |||||||||
Net assets, end of year (000) | $1,678,603 | $1,377,486 | $978,981 | $847,921 | $631,482 | ||||
Portfolio turnover rate(d) | 20% | 15% | 11% | 15% | 16% | ||||
(a) Based on average shares outstanding. |
|||||||||
(b) The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share transactions in relation to the fluctuating market values of the Fund’s underlying securities. | |||||||||
(c) Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | |||||||||
(d) Portfolio turnover rate excludes in-kind transactions. |
Premium/Discount Range | Number of Days | Percentage of Total Days | ||
Greater than 1.0% and Less than 1.5% | 1 | 0.27% | ||
Greater than 0.5% and Less than 1.0% | 2 | 0.53 | ||
Greater than 0.0% and Less than 0.5% | 141 | 37.40 | ||
At NAV | 98 | 25.99 | ||
Less than 0.0% and Greater than -0.5% | 135 | 35.81 | ||
377 | 100.00% |
Average Annual Total Returns | Cumulative Total Returns | ||||||
1 Year | 5 Years | 10 Years | 1 Year | 5 Years | 10 Years | ||
Fund NAV | 3.55% | 11.74% | 13.43% | 3.55% | 74.17% | 252.56% | |
Fund Market | 3.59 | 11.74 | 13.42 | 3.59 | 74.23 | 252.30 | |
Index | 3.72 | 11.94 | 13.65 | 3.72 | 75.72 | 259.45 |
Call: |
1-800-iShares
or 1-800-474-2737 (toll free)
Monday through Friday, 8:30 a.m. to 6:30 p.m. (Eastern time) |
Email: | iSharesETFs@blackrock.com |
Write: |
c/o
BlackRock Investments, LLC
1 University Square Drive, Princeton, NJ 08540 |
July 31, 2020 | |
2020 Prospectus |
• |
iShares Russell Top 200
Value ETF | IWX | NYSE ARCA
|
|
S-1 |
|
1 |
|
2 |
|
10 |
|
14 |
|
14 |
|
17 |
|
26 |
|
27 |
|
28 |
|
28 |
|
30 |
Ticker: IWX | Stock Exchange: NYSE Arca |
1 | The amount rounded to 0.00%. |
1 Year | 3 Years | 5 Years | 10 Years | |||
$20 | $64 | $113 | $255 |
1 | The Fund’s year-to-date return as of June 30, 2020 was -15.41%. |
One Year | Five Years | Ten Years | |||
(Inception Date: 9/22/2009) | |||||
Return Before Taxes | 26.14% | 8.43% | 11.32% | ||
Return After Taxes on Distributions1 | 25.32% | 7.78% | 10.75% | ||
Return After Taxes on Distributions and Sale of Fund Shares1 | 15.99% | 6.53% | 9.30% | ||
Russell Top 200® Value Index (Index returns do not reflect deductions for fees, expenses, or taxes) | 26.36% | 8.65% | 11.56% |
1 | After-tax returns in the table above are calculated using the historical highest individual U.S. federal marginal income tax rates and do not reflect the impact of state or local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown, and after-tax returns shown are not relevant to tax-exempt investors or investors who hold shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts (“IRAs”). Fund returns after taxes on distributions and sales of Fund shares are calculated assuming that an investor has sufficient capital gains of the same character from other investments to offset any capital losses from the sale of Fund shares. As a result, Fund returns after taxes on distributions and sales of Fund shares may exceed Fund returns before taxes and/or returns after taxes on distributions. |
■ | General Impact. This outbreak has resulted in travel restrictions, closed international borders, enhanced health screenings at ports of entry and elsewhere, disruption of and delays in healthcare service preparation and delivery, prolonged quarantines, cancellations, supply chain disruptions, lower consumer demand, temporary closures of stores, restaurants and other commercial establishments, layoffs, defaults and other significant economic impacts, as well as general concern and uncertainty. |
■ | Market Volatility. The outbreak has also resulted in extreme volatility, severe losses, and disruptions in markets which can adversely impact the Fund and its investments, including impairing hedging activity to the extent a Fund engages in such activity, as expected correlations between related markets or instruments may no longer apply. In addition, to the extent the Fund invests in short-term instruments that have negative yields, the Fund’s value may be impaired as a result. Certain issuers of equity securities have cancelled or announced the suspension of dividends. The outbreak has, and may continue to, negatively affect the credit ratings of some fixed income securities and their issuers. |
■ | Market Closures. Certain local markets have been or may be subject to closures, and there can be no assurance that trading will continue in any local markets in which the Fund may invest, when any resumption of trading will occur or, once such markets resume trading, whether they will face further closures. Any suspension of trading in markets in which the Fund invests will have an impact on the Fund and its investments and will impact the Fund’s ability to purchase or sell securities in such markets. |
■ | Operational Risk. The outbreak could also impair the information technology and other operational systems upon which the Fund’s service providers, including BFA, rely, and could otherwise disrupt the ability of employees of the Fund’s service providers to perform critical tasks relating to the Fund, for example, due to the |
service providers’ employees performing tasks in alternate locations than under normal operating conditions or the illness of certain employees of the Fund’s service providers. | |
■ | Governmental Interventions. Governmental and quasi-governmental authorities and regulators throughout the world have responded to the outbreak and the resulting economic disruptions with a variety of fiscal and monetary policy changes, including direct capital infusions into companies and other issuers, new monetary policy tools, and lower interest rates. An unexpected or sudden reversal of these policies, or the ineffectiveness of such policies, is likely to increase market volatility, which could adversely affect the Fund’s investments. |
■ | Pre-Existing Conditions. Public health crises caused by the outbreak may exacerbate other pre-existing political, social and economic risks in certain countries or globally. |
Approximate
Value of a Creation Unit |
Creation
Unit Size |
Standard
Creation/ Redemption Transaction Fee |
Maximum
Additional
Charge for Creations* |
Maximum
Additional
Charge for Redemptions* |
||||
$2,428,000 | 50,000 | $300 | 3.0% | 2.0% |
* | As a percentage of the net asset value per Creation Unit, inclusive, in the case of redemptions, of the standard redemption transaction fee. |
iShares Russell Top 200 Value ETF | |||||||||
Year
Ended
03/31/20 |
Year
Ended
03/31/19 |
Year
Ended
03/31/18 |
Year
Ended
03/31/17 |
Year
Ended
03/31/16 |
|||||
Net asset value, beginning of year | $ 52.57 | $ 50.39 | $ 48.20 | $ 41.57 | $ 43.14 | ||||
Net investment income(a) | 1.40 | 1.31 | 1.17 | 1.10 | 1.04 | ||||
Net realized and unrealized gain (loss)(b) | (8.38) | 2.13 | 2.15 | 6.59 | (1.44) | ||||
Net increase (decrease) from investment operations | (6.98) | 3.44 | 3.32 | 7.69 | (0.40) | ||||
Distributions (c) | |||||||||
From net investment income | (1.55) | (1.26) | (1.13) | (1.06) | (1.17) | ||||
Total distributions | (1.55) | (1.26) | (1.13) | (1.06) | (1.17) | ||||
Net asset value, end of year | $ 44.04 | $ 52.57 | $ 50.39 | $ 48.20 | $ 41.57 | ||||
Total Return | |||||||||
Based on net asset value | (13.72)% | 6.92% | 6.93% | 18.68% | (0.91)% | ||||
Ratios to Average Net Assets | |||||||||
Total expenses | 0.20% | 0.20% | 0.20% | 0.20% | 0.20% | ||||
Net investment income | 2.56% | 2.54% | 2.33% | 2.44% | 2.47% | ||||
Supplemental Data | |||||||||
Net assets, end of year (000) | $389,726 | $425,831 | $284,724 | $226,520 | $170,437 | ||||
Portfolio turnover rate(d) | 17% | 14% | 13% | 14% | 16% | ||||
(a) Based on average shares outstanding. |
|||||||||
(b) The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share transactions in relation to the fluctuating market values of the Fund’s underlying securities. | |||||||||
(c) Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | |||||||||
(d) Portfolio turnover rate excludes in-kind transactions. |
Premium/Discount Range | Number of Days | Percentage of Total Days | ||
Greater than 0.0% and Less than 0.5% | 167 | 44.30% | ||
At NAV | 72 | 19.10 | ||
Less than 0.0% and Greater than -0.5% | 138 | 36.60 | ||
377 | 100.00% |
Average Annual Total Returns | Cumulative Total Returns | ||||||
1 Year | 5 Years | 10 Years | 1 Year | 5 Years | 10 Years | ||
Fund NAV | (13.72)% | 3.01% | 7.68% | (13.72)% | 16.01% | 109.64% | |
Fund Market | (13.74) | 3.02 | 7.69 | (13.74) | 16.03 | 109.77 | |
Index | (13.58) | 3.22 | 7.91 | (13.58) | 17.16 | 114.17 |
Call: |
1-800-iShares
or 1-800-474-2737 (toll free)
Monday through Friday, 8:30 a.m. to 6:30 p.m. (Eastern time) |
Email: | iSharesETFs@blackrock.com |
Write: |
c/o
BlackRock Investments, LLC
1 University Square Drive, Princeton, NJ 08540 |
July 31, 2020 | |
2020 Prospectus |
• |
iShares S&P 100
ETF | OEF | NYSE ARCA
|
|
S-1 |
|
1 |
|
2 |
|
10 |
|
14 |
|
14 |
|
17 |
|
26 |
|
27 |
|
28 |
|
28 |
|
31 |
Ticker: OEF | Stock Exchange: NYSE Arca |
1 | The amount rounded to 0.00%. |
1 Year | 3 Years | 5 Years | 10 Years | |||
$20 | $64 | $113 | $255 |
1 | The Fund’s year-to-date return as of June 30, 2020 was -0.21%. |
One Year | Five Years | Ten Years | |||
(Inception Date: 10/23/2000) | |||||
Return Before Taxes | 31.98% | 11.93% | 13.16% | ||
Return After Taxes on Distributions1 | 31.34% | 11.39% | 12.67% | ||
Return After Taxes on Distributions and Sale of Fund Shares1 | 19.31% | 9.40% | 10.93% | ||
S&P 100®(Index returns do not reflect deductions for fees, expenses, or taxes) | 32.21% | 12.12% | 13.38% |
1 | After-tax returns in the table above are calculated using the historical highest individual U.S. federal marginal income tax rates and do not reflect the impact of state or local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown, and after-tax returns shown are not relevant to tax-exempt investors or investors who hold shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts (“IRAs”). Fund returns after taxes on distributions and sales of Fund shares are calculated assuming that an investor has sufficient capital gains of the same character from other investments to offset any capital losses from the sale of Fund shares. As a result, Fund returns after taxes on distributions and sales of Fund shares may exceed Fund returns before taxes and/or returns after taxes on distributions. |
■ | General Impact. This outbreak has resulted in travel restrictions, closed international borders, enhanced health screenings at ports of entry and elsewhere, disruption of and delays in healthcare service preparation and delivery, prolonged quarantines, cancellations, supply chain disruptions, lower consumer demand, temporary closures of stores, restaurants and other commercial establishments, layoffs, defaults and other significant economic impacts, as well as general concern and uncertainty. |
■ | Market Volatility. The outbreak has also resulted in extreme volatility, severe losses, and disruptions in markets which can adversely impact the Fund and its investments, including impairing hedging activity to the extent a Fund engages in such activity, as expected correlations between related markets or instruments may no longer apply. In addition, to the extent the Fund invests in short-term instruments that have negative yields, the Fund’s value may be impaired as a result. Certain |
issuers of equity securities have cancelled or announced the suspension of dividends. The outbreak has, and may continue to, negatively affect the credit ratings of some fixed income securities and their issuers. | |
■ | Market Closures. Certain local markets have been or may be subject to closures, and there can be no assurance that trading will continue in any local markets in which the Fund may invest, when any resumption of trading will occur or, once such markets resume trading, whether they will face further closures. Any suspension of trading in markets in which the Fund invests will have an impact on the Fund and its investments and will impact the Fund’s ability to purchase or sell securities in such markets. |
■ | Operational Risk. The outbreak could also impair the information technology and other operational systems upon which the Fund’s service providers, including BFA, rely, and could otherwise disrupt the ability of employees of the Fund’s service providers to perform critical tasks relating to the Fund, for example, due to the service providers’ employees performing tasks in alternate locations than under normal operating conditions or the illness of certain employees of the Fund’s service providers. |
■ | Governmental Interventions. Governmental and quasi-governmental authorities and regulators throughout the world have responded to the outbreak and the resulting economic disruptions with a variety of fiscal and monetary policy changes, including direct capital infusions into companies and other issuers, new monetary policy tools, and lower interest rates. An unexpected or sudden reversal of these policies, or the ineffectiveness of such policies, is likely to increase market volatility, which could adversely affect the Fund’s investments. |
■ | Pre-Existing Conditions. Public health crises caused by the outbreak may exacerbate other pre-existing political, social and economic risks in certain countries or globally. |
Approximate
Value of a Creation Unit |
Creation
Unit Size |
Standard
Creation/ Redemption Transaction Fee |
Maximum
Additional
Charge for Creations* |
Maximum
Additional
Charge for Redemptions* |
||||
$6,685,000 | 50,000 | $250 | 3.0% | 2.0% |
* | As a percentage of the net asset value per Creation Unit, inclusive, in the case of redemptions, of the standard redemption transaction fee. |
iShares S&P 100 ETF | |||||||||
Year
Ended
03/31/20 |
Year
Ended
03/31/19 |
Year
Ended
03/31/18 |
Year
Ended
03/31/17 |
Year
Ended
03/31/16 |
|||||
Net asset value, beginning of year | $ 125.31 | $ 115.89 | $ 104.70 | $ 91.38 | $ 90.25 | ||||
Net investment income(a) | 2.48 | 2.35 | 2.17 | 2.02 | 1.91 | ||||
Net realized and unrealized gain (loss)(b) | (6.58) | 9.45 | 11.20 | 13.38 | 1.14 | ||||
Net increase (decrease) from investment operations | (4.10) | 11.80 | 13.37 | 15.40 | 3.05 | ||||
Distributions (c) | |||||||||
From net investment income | (2.71) | (2.38) | (2.18) | (2.08) | (1.92) | ||||
Total distributions | (2.71) | (2.38) | (2.18) | (2.08) | (1.92) | ||||
Net asset value, end of year | $ 118.50 | $ 125.31 | $ 115.89 | $ 104.70 | $ 91.38 | ||||
Total Return | |||||||||
Based on net asset value | (3.42)% | 10.25% | 12.85% | 17.03% | 3.43% | ||||
Ratios to Average Net Assets | |||||||||
Total expenses | 0.20% | 0.20% | 0.20% | 0.20% | 0.20% | ||||
Net investment income | 1.86% | 1.94% | 1.92% | 2.08% | 2.12% | ||||
Supplemental Data | |||||||||
Net assets, end of year (000) | $4,852,686 | $4,824,336 | $5,024,007 | $4,612,077 | $4,546,237 | ||||
Portfolio turnover rate(d) | 4% | 7% | 4% | 4% | 7% | ||||
(a) Based on average shares outstanding. |
|||||||||
(b) The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share transactions in relation to the fluctuating market values of the Fund’s underlying securities. | |||||||||
(c) Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | |||||||||
(d) Portfolio turnover rate excludes in-kind transactions. |
Premium/Discount Range | Number of Days | Percentage of Total Days | ||
Greater than 0.0% and Less than 0.5% | 123 | 32.63% | ||
At NAV | 79 | 20.95 | ||
Less than 0.0% and Greater than -0.5% | 175 | 46.42 | ||
377 | 100.00% |
Average Annual Total Returns | Cumulative Total Returns | ||||||
1 Year | 5 Years | 10 Years | 1 Year | 5 Years | 10 Years | ||
Fund NAV | (3.42)% | 7.78% | 10.53% | (3.42)% | 45.47% | 172.05% | |
Fund Market | (3.37) | 7.78 | 10.53 | (3.37) | 45.47 | 172.06 | |
Index | (3.14) | 7.99 | 10.75 | (3.14) | 46.85 | 177.61 |
Call: |
1-800-iShares
or 1-800-474-2737 (toll free)
Monday through Friday, 8:30 a.m. to 6:30 p.m. (Eastern time) |
Email: | iSharesETFs@blackrock.com |
Write: |
c/o
BlackRock Investments, LLC
1 University Square Drive, Princeton, NJ 08540 |
July 31, 2020 | |
2020 Prospectus |
• |
iShares S&P 500
Growth ETF | IVW | NYSE ARCA
|
|
S-1 |
|
1 |
|
2 |
|
10 |
|
14 |
|
14 |
|
17 |
|
25 |
|
26 |
|
27 |
|
27 |
|
30 |
Ticker: IVW | Stock Exchange: NYSE Arca |
1 | The amount rounded to 0.00%. |
1 Year | 3 Years | 5 Years | 10 Years | |||
$18 | $58 | $101 | $230 |
1 | The Fund’s year-to-date return as of June 30, 2020 was 7.81%. |
One Year | Five Years | Ten Years | |||
(Inception Date: 5/22/2000) | |||||
Return Before Taxes | 30.91% | 13.32% | 14.57% | ||
Return After Taxes on Distributions1 | 30.37% | 12.92% | 14.20% | ||
Return After Taxes on Distributions and Sale of Fund Shares1 | 18.63% | 10.60% | 12.23% | ||
S&P 500 Growth IndexTM (Index returns do not reflect deductions for fees, expenses, or taxes) | 31.13% | 13.52% | 14.78% |
1 | After-tax returns in the table above are calculated using the historical highest individual U.S. federal marginal income tax rates and do not reflect the impact of state or local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown, and after-tax returns shown are not relevant to tax-exempt investors or investors who hold shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts (“IRAs”). Fund returns after taxes on distributions and sales of Fund shares are calculated assuming that an investor has sufficient capital gains of the same character from other investments to offset any capital losses from the sale of Fund shares. As a result, Fund returns after taxes on distributions and sales of Fund shares may exceed Fund returns before taxes and/or returns after taxes on distributions. |
■ | General Impact. This outbreak has resulted in travel restrictions, closed international borders, enhanced health screenings at ports of entry and elsewhere, disruption of and delays in healthcare service preparation and delivery, prolonged quarantines, cancellations, supply chain disruptions, lower consumer demand, temporary closures of stores, restaurants and other commercial establishments, layoffs, defaults and other significant economic impacts, as well as general concern and uncertainty. |
■ | Market Volatility. The outbreak has also resulted in extreme volatility, severe losses, and disruptions in markets which can adversely impact the Fund and its investments, including impairing hedging activity to the extent a Fund engages in such activity, as expected correlations between related markets or instruments may no longer apply. In addition, to the extent the Fund invests in short-term instruments that have negative yields, the Fund’s value may be impaired as a result. Certain issuers of equity securities have cancelled or announced the suspension of dividends. The outbreak has, and may continue to, negatively affect the credit ratings of some fixed income securities and their issuers. |
■ | Market Closures. Certain local markets have been or may be subject to closures, and there can be no assurance that trading will continue in any local markets in which the Fund may invest, when any resumption of trading will occur or, once such markets resume trading, whether they will face further closures. Any suspension of trading in markets in which the Fund invests will have an impact on the Fund and its investments and will impact the Fund’s ability to purchase or sell securities in such markets. |
■ | Operational Risk. The outbreak could also impair the information technology and other operational systems upon which the Fund’s service providers, including BFA, |
rely, and could otherwise disrupt the ability of employees of the Fund’s service providers to perform critical tasks relating to the Fund, for example, due to the service providers’ employees performing tasks in alternate locations than under normal operating conditions or the illness of certain employees of the Fund’s service providers. | |
■ | Governmental Interventions. Governmental and quasi-governmental authorities and regulators throughout the world have responded to the outbreak and the resulting economic disruptions with a variety of fiscal and monetary policy changes, including direct capital infusions into companies and other issuers, new monetary policy tools, and lower interest rates. An unexpected or sudden reversal of these policies, or the ineffectiveness of such policies, is likely to increase market volatility, which could adversely affect the Fund’s investments. |
■ | Pre-Existing Conditions. Public health crises caused by the outbreak may exacerbate other pre-existing political, social and economic risks in certain countries or globally. |
Approximate
Value of a Creation Unit |
Creation
Unit Size |
Standard
Creation/ Redemption Transaction Fee |
Maximum
Additional
Charge for Creations* |
Maximum
Additional
Charge for Redemptions* |
||||
$9,441,000 | 50,000 | $700 | 3.0% | 2.0% |
* | As a percentage of the net asset value per Creation Unit, inclusive, in the case of redemptions, of the standard redemption transaction fee. |
Premium/Discount Range | Number of Days | Percentage of Total Days | ||
Greater than 0.0% and Less than 0.5% | 124 | 32.89% | ||
At NAV | 88 | 23.34 | ||
Less than 0.0% and Greater than -0.5% | 165 | 43.77 | ||
377 | 100.00% |
Average Annual Total Returns | Cumulative Total Returns | ||||||
1 Year | 5 Years | 10 Years | 1 Year | 5 Years | 10 Years | ||
Fund NAV | (2.65)% | 9.29% | 12.38% | (2.65)% | 55.91% | 221.17% | |
Fund Market | (2.69) | 9.27 | 12.37 | (2.69) | 55.79 | 220.96 | |
Index | (2.47) | 9.48 | 12.58 | (2.47) | 57.26 | 227.05 |
Call: |
1-800-iShares
or 1-800-474-2737 (toll free)
Monday through Friday, 8:30 a.m. to 6:30 p.m. (Eastern time) |
Email: | iSharesETFs@blackrock.com |
Write: |
c/o
BlackRock Investments, LLC
1 University Square Drive, Princeton, NJ 08540 |
July 31, 2020 | |
2020 Prospectus |
• |
iShares S&P 500 Value
ETF | IVE | NYSE ARCA
|
|
S-1 |
|
1 |
|
2 |
|
10 |
|
15 |
|
15 |
|
18 |
|
27 |
|
28 |
|
29 |
|
29 |
|
32 |
Ticker: IVE | Stock Exchange: NYSE Arca |
1 | The amount rounded to 0.00%. |
1 Year | 3 Years | 5 Years | 10 Years | |||
$18 | $58 | $101 | $230 |
1 | The Fund’s year-to-date return as of June 30, 2020 was -15.55%. |
One Year | Five Years | Ten Years | |||
(Inception Date: 5/22/2000) | |||||
Return Before Taxes | 31.70% | 9.35% | 11.97% | ||
Return After Taxes on Distributions1 | 30.99% | 8.74% | 11.42% | ||
Return After Taxes on Distributions and Sale of Fund Shares1 | 19.19% | 7.28% | 9.87% | ||
S&P 500 Value IndexTM (Index returns do not reflect deductions for fees, expenses, or taxes) | 31.93% | 9.52% | 12.16% |
1 | After-tax returns in the table above are calculated using the historical highest individual U.S. federal marginal income tax rates and do not reflect the impact of state or local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown, and after-tax returns shown are not relevant to tax-exempt investors or investors who hold shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts (“IRAs”). Fund returns after taxes on distributions and sales of Fund shares are calculated assuming that an investor has sufficient capital gains of the same character from other investments to offset any capital losses from the sale of Fund shares. As a result, Fund returns after taxes on distributions and sales of Fund shares may exceed Fund returns before taxes and/or returns after taxes on distributions. |
■ | General Impact. This outbreak has resulted in travel restrictions, closed international borders, enhanced health screenings at ports of entry and elsewhere, disruption of and delays in healthcare service preparation and delivery, prolonged quarantines, cancellations, supply chain disruptions, lower consumer demand, temporary closures of stores, restaurants and other commercial establishments, layoffs, defaults and other significant economic impacts, as well as general concern and uncertainty. |
■ | Market Volatility. The outbreak has also resulted in extreme volatility, severe losses, and disruptions in markets which can adversely impact the Fund and its investments, including impairing hedging activity to the extent a Fund engages in such activity, as expected correlations between related markets or instruments may no longer apply. In addition, to the extent the Fund invests in short-term instruments that have negative yields, the Fund’s value may be impaired as a result. Certain issuers of equity securities have cancelled or announced the suspension of dividends. The outbreak has, and may continue to, negatively affect the credit ratings of some fixed income securities and their issuers. |
■ | Market Closures. Certain local markets have been or may be subject to closures, and there can be no assurance that trading will continue in any local markets in which the Fund may invest, when any resumption of trading will occur or, once such markets resume trading, whether they will face further closures. Any suspension of trading in markets in which the Fund invests will have an impact on the Fund and its investments and will impact the Fund’s ability to purchase or sell securities in such markets. |
■ | Operational Risk. The outbreak could also impair the information technology and other operational systems upon which the Fund’s service providers, including BFA, rely, and could otherwise disrupt the ability of employees of the Fund’s service providers to perform critical tasks relating to the Fund, for example, due to the service providers’ employees performing tasks in alternate locations than under normal operating conditions or the illness of certain employees of the Fund’s service providers. |
■ | Governmental Interventions. Governmental and quasi-governmental authorities and regulators throughout the world have responded to the outbreak and the resulting |
economic disruptions with a variety of fiscal and monetary policy changes, including direct capital infusions into companies and other issuers, new monetary policy tools, and lower interest rates. An unexpected or sudden reversal of these policies, or the ineffectiveness of such policies, is likely to increase market volatility, which could adversely affect the Fund’s investments. | |
■ | Pre-Existing Conditions. Public health crises caused by the outbreak may exacerbate other pre-existing political, social and economic risks in certain countries or globally. |
Approximate
Value of a Creation Unit |
Creation
Unit Size |
Standard
Creation/ Redemption Transaction Fee |
Maximum
Additional
Charge for Creations* |
Maximum
Additional
Charge for Redemptions* |
||||
$5,329,500 | 50,000 | $900 | 3.0% | 2.0% |
* | As a percentage of the net asset value per Creation Unit, inclusive, in the case of redemptions, of the standard redemption transaction fee. |
iShares S&P 500 Value ETF | |||||||||
Year
Ended
03/31/20 |
Year
Ended
03/31/19 |
Year
Ended
03/31/18 |
Year
Ended
03/31/17 |
Year
Ended
03/31/16 |
|||||
Net asset value, beginning of year | $ 112.76 | $ 109.32 | $ 104.03 | $ 89.91 | $ 92.53 | ||||
Net investment income(a) | 2.86 | 2.69 | 2.53 | 2.31 | 2.25 | ||||
Net realized and unrealized gain (loss)(b) | (16.41) | 3.53 | 5.26 | 14.11 | (2.70) | ||||
Net increase (decrease) from investment operations | (13.55) | 6.22 | 7.79 | 16.42 | (0.45) | ||||
Distributions (c) | |||||||||
From net investment income | (2.92) | (2.78) | (2.50) | (2.30) | (2.17) | ||||
Total distributions | (2.92) | (2.78) | (2.50) | (2.30) | (2.17) | ||||
Net asset value, end of year | $ 96.29 | $ 112.76 | $ 109.32 | $ 104.03 | $ 89.91 | ||||
Total Return | |||||||||
Based on net asset value | (12.34)% | 5.79% | 7.53% | 18.44% | (0.44)% | ||||
Ratios to Average Net Assets | |||||||||
Total expenses | 0.18% | 0.18% | 0.18% | 0.18% | 0.18% | ||||
Net investment income | 2.40% | 2.43% | 2.33% | 2.37% | 2.51% | ||||
Supplemental Data | |||||||||
Net assets, end of year (000) | $14,187,829 | $15,234,432 | $14,638,372 | $13,643,474 | $9,660,828 | ||||
Portfolio turnover rate(d) | 32% | 31% | 23% | 21% | 25% | ||||
(a) Based on average shares outstanding. |
|||||||||
(b) The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share transactions in relation to the fluctuating market values of the Fund’s underlying securities. | |||||||||
(c) Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | |||||||||
(d) Portfolio turnover rate excludes in-kind transactions. |
Premium/Discount Range | Number of Days | Percentage of Total Days | ||
Greater than 0.0% and Less than 0.5% | 128 | 33.95% | ||
At NAV | 74 | 19.63 | ||
Less than 0.0% and Greater than -0.5% | 175 | 46.42 | ||
377 | 100.00% |
Average Annual Total Returns | Cumulative Total Returns | ||||||
1 Year | 5 Years | 10 Years | 1 Year | 5 Years | 10 Years | ||
Fund NAV | (12.34)% | 3.29% | 8.00% | (12.34)% | 17.59% | 115.99% | |
Fund Market | (12.33) | 3.29 | 8.00 | (12.33) | 17.56 | 115.96 | |
Index | (12.20) | 3.45 | 8.18 | (12.20) | 18.46 | 119.61 |
Call: |
1-800-iShares
or 1-800-474-2737 (toll free)
Monday through Friday, 8:30 a.m. to 6:30 p.m. (Eastern time) |
Email: | iSharesETFs@blackrock.com |
Write: |
c/o
BlackRock Investments, LLC
1 University Square Drive, Princeton, NJ 08540 |
July 31, 2020 | |
2020 Prospectus |
• |
iShares S&P Mid-Cap
400 Growth ETF | IJK | NYSE ARCA
|
|
S-1 |
|
1 |
|
2 |
|
11 |
|
15 |
|
15 |
|
19 |
|
27 |
|
28 |
|
29 |
|
29 |
|
32 |
Ticker: IJK | Stock Exchange: NYSE Arca |
1 | The amount rounded to 0.00%. |
1 Year | 3 Years | 5 Years | 10 Years | |||
$25 | $77 | $135 | $306 |
1 | The Fund’s year-to-date return as of June 30, 2020 was -5.34%. |
One Year | Five Years | Ten Years | |||
(Inception Date: 7/24/2000) | |||||
Return Before Taxes | 25.99% | 9.48% | 12.93% | ||
Return After Taxes on Distributions1 | 25.61% | 9.15% | 12.66% | ||
Return After Taxes on Distributions and Sale of Fund Shares1 | 15.57% | 7.42% | 10.79% | ||
S&P MidCap 400 Growth IndexTM (Index returns do not reflect deductions for fees, expenses, or taxes) | 26.29% | 9.72% | 13.16% |
1 | After-tax returns in the table above are calculated using the historical highest individual U.S. federal marginal income tax rates and do not reflect the impact of state or local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown, and after-tax returns shown are not relevant to tax-exempt investors or investors who hold shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts (“IRAs”). Fund returns after taxes on distributions and sales of Fund shares are calculated assuming that an investor has sufficient capital gains of the same character from other investments to offset any capital losses from the sale of Fund shares. As a result, Fund returns after taxes on distributions and sales of Fund shares may exceed Fund returns before taxes and/or returns after taxes on distributions. |
■ | General Impact. This outbreak has resulted in travel restrictions, closed international borders, enhanced health screenings at ports of entry and elsewhere, disruption of and delays in healthcare service preparation and delivery, prolonged quarantines, cancellations, supply chain disruptions, lower consumer demand, temporary closures of stores, restaurants and other commercial establishments, layoffs, defaults and other significant economic impacts, as well as general concern and uncertainty. |
■ | Market Volatility. The outbreak has also resulted in extreme volatility, severe losses, and disruptions in markets which can adversely impact the Fund and its investments, including impairing hedging activity to the extent a Fund engages in such activity, as expected correlations between related markets or instruments may no longer apply. In addition, to the extent the Fund invests in short-term instruments that have negative yields, the Fund’s value may be impaired as a result. Certain issuers of equity securities have cancelled or announced the suspension of dividends. The outbreak has, and may continue to, negatively affect the credit ratings of some fixed income securities and their issuers. |
■ | Market Closures. Certain local markets have been or may be subject to closures, and there can be no assurance that trading will continue in any local markets in which the Fund may invest, when any resumption of trading will occur or, once such markets resume trading, whether they will face further closures. Any suspension of trading in markets in which the Fund invests will have an impact on the Fund and its investments and will impact the Fund’s ability to purchase or sell securities in such markets. |
■ | Operational Risk. The outbreak could also impair the information technology and other operational systems upon which the Fund’s service providers, including BFA, rely, and could otherwise disrupt the ability of employees of the Fund’s service providers to perform critical tasks relating to the Fund, for example, due to the service providers’ employees performing tasks in alternate locations than under normal operating conditions or the illness of certain employees of the Fund’s service providers. |
■ | Governmental Interventions. Governmental and quasi-governmental authorities and regulators throughout the world have responded to the outbreak and the resulting economic disruptions with a variety of fiscal and monetary policy changes, including direct capital infusions into companies and other issuers, new monetary policy tools, and lower interest rates. An unexpected or sudden reversal of these policies, |
or the ineffectiveness of such policies, is likely to increase market volatility, which could adversely affect the Fund’s investments. | |
■ | Pre-Existing Conditions. Public health crises caused by the outbreak may exacerbate other pre-existing political, social and economic risks in certain countries or globally. |
Approximate
Value of a Creation Unit |
Creation
Unit Size |
Standard
Creation/ Redemption Transaction Fee |
Maximum
Additional
Charge for Creations* |
Maximum
Additional
Charge for Redemptions* |
||||
$10,183,500 | 50,000 | $550 | 3.0% | 2.0% |
* | As a percentage of the net asset value per Creation Unit, inclusive, in the case of redemptions, of the standard redemption transaction fee. |
iShares S&P Mid-Cap 400 Growth ETF | |||||||||
Year
Ended
03/31/20 |
Year
Ended
03/31/19 |
Year
Ended
03/31/18 |
Year
Ended
03/31/17 |
Year
Ended
03/31/16 |
|||||
Net asset value, beginning of year | $ 219.03 | $ 218.21 | $ 190.96 | $ 162.57 | $ 171.45 | ||||
Net investment income(a) | 2.26 | 2.20 | 1.93 | 1.85 | 1.57 | ||||
Net realized and unrealized gain (loss)(b) | (40.17) | 0.93 | 27.39 | 28.64 | (8.68) | ||||
Net increase (decrease) from investment operations | (37.91) | 3.13 | 29.32 | 30.49 | (7.11) | ||||
Distributions (c) | |||||||||
From net investment income | (2.51) | (2.22) | (2.07) | (2.10) | (1.77) | ||||
From net realized gain | — | (0.09) | — | — | — | ||||
Total distributions | (2.51) | (2.31) | (2.07) | (2.10) | (1.77) | ||||
Net asset value, end of year | $ 178.61 | $ 219.03 | $ 218.21 | $ 190.96 | $ 162.57 | ||||
Total Return | |||||||||
Based on net asset value | (17.49)% | 1.45% | 15.41% | 18.85% | (4.15)% | ||||
Ratios to Average Net Assets | |||||||||
Total expenses | 0.24% | 0.24% | 0.24% | 0.25% | 0.25% | ||||
Net investment income | 1.01% | 1.01% | 0.94% | 1.05% | 0.96% | ||||
Supplemental Data | |||||||||
Net assets, end of year (000) | $5,260,096 | $7,490,758 | $8,008,220 | $6,254,058 | $5,023,418 | ||||
Portfolio turnover rate(d) | 51% | 50% | 40% | 54% | 44% | ||||
(a) Based on average shares outstanding. |
|||||||||
(b) The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share transactions in relation to the fluctuating market values of the Fund’s underlying securities. | |||||||||
(c) Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | |||||||||
(d) Portfolio turnover rate excludes in-kind transactions. |
Premium/Discount Range | Number of Days | Percentage of Total Days | ||
Greater than 0.0% and Less than 0.5% | 108 | 28.65% | ||
At NAV | 75 | 19.89 | ||
Less than 0.0% and Greater than -0.5% | 194 | 51.46 | ||
377 | 100.00% |
Average Annual Total Returns | Cumulative Total Returns | ||||||
1 Year | 5 Years | 10 Years | 1 Year | 5 Years | 10 Years | ||
Fund NAV | (17.49)% | 1.93% | 8.78% | (17.49)% | 10.05% | 132.04% | |
Fund Market | (17.55) | 1.93 | 8.78 | (17.55) | 10.01 | 131.99 | |
Index | (17.30) | 2.16 | 9.01 | (17.30) | 11.28 | 136.90 |
Call: |
1-800-iShares
or 1-800-474-2737 (toll free)
Monday through Friday, 8:30 a.m. to 6:30 p.m. (Eastern time) |
Email: | iSharesETFs@blackrock.com |
Write: |
c/o
BlackRock Investments, LLC
1 University Square Drive, Princeton, NJ 08540 |
July 31, 2020 | |
2020 Prospectus |
• |
iShares S&P Mid-Cap
400 Value ETF | IJJ | NYSE ARCA
|
|
S-1 |
|
1 |
|
2 |
|
10 |
|
16 |
|
16 |
|
19 |
|
28 |
|
29 |
|
30 |
|
30 |
|
33 |
Ticker: IJJ | Stock Exchange: NYSE Arca |
1 | The amount rounded to 0.00%. |
1 Year | 3 Years | 5 Years | 10 Years | |||
$26 | $80 | $141 | $318 |
1 | The Fund’s year-to-date return as of June 30, 2020 was -21.05%. |
One Year | Five Years | Ten Years | |||
(Inception Date: 7/24/2000) | |||||
Return Before Taxes | 25.81% | 7.83% | 11.92% | ||
Return After Taxes on Distributions1 | 25.25% | 7.35% | 11.47% | ||
Return After Taxes on Distributions and Sale of Fund Shares1 | 15.60% | 6.06% | 9.84% | ||
S&P MidCap 400 Value IndexTM (Index returns do not reflect deductions for fees, expenses, or taxes) | 26.08% | 8.07% | 12.16% |
1 | After-tax returns in the table above are calculated using the historical highest individual U.S. federal marginal income tax rates and do not reflect the impact of state or local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown, and after-tax returns shown are not relevant to tax-exempt investors or investors who hold shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts (“IRAs”). Fund returns after taxes on distributions and sales of Fund shares are calculated assuming that an investor has sufficient capital gains of the same character from other investments to offset any capital losses from the sale of Fund shares. As a result, Fund returns after taxes on distributions and sales of Fund shares may exceed Fund returns before taxes and/or returns after taxes on distributions. |
■ | General Impact. This outbreak has resulted in travel restrictions, closed international borders, enhanced health screenings at ports of entry and elsewhere, disruption of and delays in healthcare service preparation and delivery, prolonged quarantines, cancellations, supply chain disruptions, lower consumer demand, temporary closures of stores, restaurants and other commercial establishments, layoffs, defaults and other significant economic impacts, as well as general concern and uncertainty. |
■ | Market Volatility. The outbreak has also resulted in extreme volatility, severe losses, and disruptions in markets which can adversely impact the Fund and its investments, including impairing hedging activity to the extent a Fund engages in such activity, as expected correlations between related markets or instruments may no longer apply. In addition, to the extent the Fund invests in short-term instruments that have negative yields, the Fund’s value may be impaired as a result. Certain issuers of equity securities have cancelled or announced the suspension of dividends. The outbreak has, and may continue to, negatively affect the credit ratings of some fixed income securities and their issuers. |
■ | Market Closures. Certain local markets have been or may be subject to closures, and there can be no assurance that trading will continue in any local markets in which the Fund may invest, when any resumption of trading will occur or, once such markets resume trading, whether they will face further closures. Any suspension of trading in markets in which the Fund invests will have an impact on the Fund and its investments and will impact the Fund’s ability to purchase or sell securities in such markets. |
■ | Operational Risk. The outbreak could also impair the information technology and other operational systems upon which the Fund’s service providers, including BFA, rely, and could otherwise disrupt the ability of employees of the Fund’s service providers to perform critical tasks relating to the Fund, for example, due to the service providers’ employees performing tasks in alternate locations than under normal operating conditions or the illness of certain employees of the Fund’s service providers. |
■ | Governmental Interventions. Governmental and quasi-governmental authorities and regulators throughout the world have responded to the outbreak and the resulting economic disruptions with a variety of fiscal and monetary policy changes, including direct capital infusions into companies and other issuers, new monetary policy tools, and lower interest rates. An unexpected or sudden reversal of these policies, or the ineffectiveness of such policies, is likely to increase market volatility, which could adversely affect the Fund’s investments. |
■ | Pre-Existing Conditions. Public health crises caused by the outbreak may exacerbate other pre-existing political, social and economic risks in certain countries or globally. |
Approximate
Value of a Creation Unit |
Creation
Unit Size |
Standard
Creation/ Redemption Transaction Fee |
Maximum
Additional
Charge for Creations* |
Maximum
Additional
Charge for Redemptions* |
||||
$6,278,000 | 50,000 | $700 | 3.0% | 2.0% |
* | As a percentage of the net asset value per Creation Unit, inclusive, in the case of redemptions, of the standard redemption transaction fee. |
iShares S&P Mid-Cap 400 Value ETF | |||||||||
Year
Ended
03/31/20 |
Year
Ended
03/31/19 |
Year
Ended
03/31/18 |
Year
Ended
03/31/17 |
Year
Ended
03/31/16 |
|||||
Net asset value, beginning of year | $ 156.93 | $ 154.37 | $ 148.47 | $ 124.02 | $ 131.04 | ||||
Net investment income(a) | 3.01 | 2.61 | 2.64 | 2.20 | 2.22 | ||||
Net realized and unrealized gain (loss)(b) | (46.84) | 2.62 | 5.95 | 24.64 | (7.00) | ||||
Net increase (decrease) from investment operations | (43.83) | 5.23 | 8.59 | 26.84 | (4.78) | ||||
Distributions (c) | |||||||||
From net investment income | (3.27) | (2.67) | (2.69) | (2.39) | (2.24) | ||||
Total distributions | (3.27) | (2.67) | (2.69) | (2.39) | (2.24) | ||||
Net asset value, end of year | $ 109.83 | $ 156.93 | $ 154.37 | $ 148.47 | $ 124.02 | ||||
Total Return | |||||||||
Based on net asset value | (28.36)% | 3.35% | 5.88% | 21.81% | (3.60)% | ||||
Ratios to Average Net Assets | |||||||||
Total expenses | 0.25% | 0.25% | 0.25% | 0.25% | 0.25% | ||||
Net investment income | 1.90% | 1.65% | 1.73% | 1.61% | 1.82% | ||||
Supplemental Data | |||||||||
Net assets, end of year (000) | $3,811,032 | $6,355,685 | $5,603,679 | $6,243,030 | $4,334,329 | ||||
Portfolio turnover rate(d) | 46% | 44% | 37% | 38% | 33% | ||||
(a) Based on average shares outstanding. |
|||||||||
(b) The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share transactions in relation to the fluctuating market values of the Fund’s underlying securities. | |||||||||
(c) Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | |||||||||
(d) Portfolio turnover rate excludes in-kind transactions. |
Premium/Discount Range | Number of Days | Percentage of Total Days | ||
Greater than 0.0% and Less than 0.5% | 142 | 37.67% | ||
At NAV | 66 | 17.50 | ||
Less than 0.0% and Greater than -0.5% | 168 | 44.56 | ||
Less than -0.5% and Greater than -1.0% | 1 | 0.27 | ||
377 | 100.00% |
Average Annual Total Returns | Cumulative Total Returns | ||||||
1 Year | 5 Years | 10 Years | 1 Year | 5 Years | 10 Years | ||
Fund NAV | (28.36)% | (1.64)% | 6.29% | (28.36)% | (7.94)% | 84.05% | |
Fund Market | (28.43) | (1.65) | 6.28 | (28.43) | (7.98) | 83.95 | |
Index | (28.23) | (1.43) | 6.51 | (28.23) | (6.96) | 87.97 |
Call: |
1-800-iShares
or 1-800-474-2737 (toll free)
Monday through Friday, 8:30 a.m. to 6:30 p.m. (Eastern time) |
Email: | iSharesETFs@blackrock.com |
Write: |
c/o
BlackRock Investments, LLC
1 University Square Drive, Princeton, NJ 08540 |
July 31, 2020 | |
2020 Prospectus |
• |
iShares S&P Small-Cap
600 Growth ETF | IJT | NASDAQ
|
|
S-1 |
|
1 |
|
2 |
|
10 |
|
15 |
|
15 |
|
18 |
|
27 |
|
28 |
|
29 |
|
29 |
|
32 |
Ticker: IJT | Stock Exchange: NASDAQ |
1 | The amount rounded to 0.00%. |
1 Year | 3 Years | 5 Years | 10 Years | |||
$26 | $80 | $141 | $318 |
1 | The Fund’s year-to-date return as of June 30, 2020 was -11.69%. |
One Year | Five Years | Ten Years | |||
(Inception Date: 7/24/2000) | |||||
Return Before Taxes | 20.82% | 10.66% | 14.02% | ||
Return After Taxes on Distributions1 | 20.52% | 10.36% | 13.73% | ||
Return After Taxes on Distributions and Sale of Fund Shares1 | 12.48% | 8.40% | 11.74% | ||
S&P SmallCap 600 Growth IndexTM (Index returns do not reflect deductions for fees, expenses, or taxes) | 21.13% | 10.87% | 14.20% |
1 | After-tax returns in the table above are calculated using the historical highest individual U.S. federal marginal income tax rates and do not reflect the impact of state or local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown, and after-tax returns shown are not relevant to tax-exempt investors or investors who hold shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts (“IRAs”). Fund returns after taxes on distributions and sales of Fund shares are calculated assuming that an investor has sufficient capital gains of the same character from other investments to offset any capital losses from the sale of Fund shares. As a result, Fund returns after taxes on distributions and sales of Fund shares may exceed Fund returns before taxes and/or returns after taxes on distributions. |
■ | General Impact. This outbreak has resulted in travel restrictions, closed international borders, enhanced health screenings at ports of entry and elsewhere, disruption of and delays in healthcare service preparation and delivery, prolonged quarantines, cancellations, supply chain disruptions, lower consumer demand, temporary closures of stores, restaurants and other commercial establishments, layoffs, defaults and other significant economic impacts, as well as general concern and uncertainty. |
■ | Market Volatility. The outbreak has also resulted in extreme volatility, severe losses, and disruptions in markets which can adversely impact the Fund and its investments, including impairing hedging activity to the extent a Fund engages in such activity, as expected correlations between related markets or instruments may |
no longer apply. In addition, to the extent the Fund invests in short-term instruments that have negative yields, the Fund’s value may be impaired as a result. Certain issuers of equity securities have cancelled or announced the suspension of dividends. The outbreak has, and may continue to, negatively affect the credit ratings of some fixed income securities and their issuers. | |
■ | Market Closures. Certain local markets have been or may be subject to closures, and there can be no assurance that trading will continue in any local markets in which the Fund may invest, when any resumption of trading will occur or, once such markets resume trading, whether they will face further closures. Any suspension of trading in markets in which the Fund invests will have an impact on the Fund and its investments and will impact the Fund’s ability to purchase or sell securities in such markets. |
■ | Operational Risk. The outbreak could also impair the information technology and other operational systems upon which the Fund’s service providers, including BFA, rely, and could otherwise disrupt the ability of employees of the Fund’s service providers to perform critical tasks relating to the Fund, for example, due to the service providers’ employees performing tasks in alternate locations than under normal operating conditions or the illness of certain employees of the Fund’s service providers. |
■ | Governmental Interventions. Governmental and quasi-governmental authorities and regulators throughout the world have responded to the outbreak and the resulting economic disruptions with a variety of fiscal and monetary policy changes, including direct capital infusions into companies and other issuers, new monetary policy tools, and lower interest rates. An unexpected or sudden reversal of these policies, or the ineffectiveness of such policies, is likely to increase market volatility, which could adversely affect the Fund’s investments. |
■ | Pre-Existing Conditions. Public health crises caused by the outbreak may exacerbate other pre-existing political, social and economic risks in certain countries or globally. |
Approximate
Value of a Creation Unit |
Creation
Unit Size |
Standard
Creation/ Redemption Transaction Fee |
Maximum
Additional
Charge for Creations* |
Maximum
Additional
Charge for Redemptions* |
||||
$7,743,000 | 50,000 | $900 | 3.0% | 2.0% |
* | As a percentage of the net asset value per Creation Unit, inclusive, in the case of redemptions, of the standard redemption transaction fee. |
iShares S&P Small-Cap 600 Growth ETF | |||||||||
Year
Ended
03/31/20 |
Year
Ended
03/31/19 |
Year
Ended
03/31/18 |
Year
Ended
03/31/17 |
Year
Ended
03/31/16 |
|||||
Net asset value, beginning of year | $ 178.57 | $ 173.83 | $ 153.23 | $ 124.27 | $ 130.16 | ||||
Net investment income(a) | 1.61 | 1.43 | 1.46 | 1.30 | 1.46 | ||||
Net realized and unrealized gain (loss)(b) | (40.00) | 4.81 | 20.68 | 29.02 | (5.79) | ||||
Net increase (decrease) from investment operations | (38.39) | 6.24 | 22.14 | 30.32 | (4.33) | ||||
Distributions (c) | |||||||||
From net investment income | (1.79) | (1.50) | (1.54) | (1.36) | (1.56) | ||||
Total distributions | (1.79) | (1.50) | (1.54) | (1.36) | (1.56) | ||||
Net asset value, end of year | $ 138.39 | $ 178.57 | $ 173.83 | $ 153.23 | $ 124.27 | ||||
Total Return | |||||||||
Based on net asset value | (21.68)% | 3.59% | 14.51% | 24.49% | (3.33)% | ||||
Ratios to Average Net Assets | |||||||||
Total expenses | 0.25% | 0.25% | 0.25% | 0.25% | 0.25% | ||||
Net investment income | 0.89% | 0.77% | 0.90% | 0.94% | 1.17% | ||||
Supplemental Data | |||||||||
Net assets, end of year (000) | $3,515,154 | $5,580,221 | $5,128,053 | $4,374,747 | $3,131,695 | ||||
Portfolio turnover rate(d) | 64% | 45% | 47% | 52% | 45% | ||||
(a) Based on average shares outstanding. |
|||||||||
(b) The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share transactions in relation to the fluctuating market values of the Fund’s underlying securities. | |||||||||
(c) Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | |||||||||
(d) Portfolio turnover rate excludes in-kind transactions. |
Premium/Discount Range | Number of Days | Percentage of Total Days | ||
Greater than 0.0% and Less than 0.5% | 108 | 28.65% | ||
At NAV | 39 | 10.34 | ||
Less than 0.0% and Greater than -0.5% | 228 | 60.47 | ||
Less than -0.5% and Greater than -1.0% | 1 | 0.27 | ||
Less than -2.0% and Greater than -2.5% | 1 | 0.27 | ||
377 | 100.00% |
Average Annual Total Returns | Cumulative Total Returns | ||||||
1 Year | 5 Years | 10 Years | 1 Year | 5 Years | 10 Years | ||
Fund NAV | (21.68)% | 2.26% | 9.54% | (21.68)% | 11.80% | 148.62% | |
Fund Market | (21.87) | 2.20 | 9.51 | (21.87) | 11.50 | 148.02 | |
Index | (21.44) | 2.47 | 9.71 | (21.44) | 12.95 | 152.71 |
Call: |
1-800-iShares
or 1-800-474-2737 (toll free)
Monday through Friday, 8:30 a.m. to 6:30 p.m. (Eastern time) |
Email: | iSharesETFs@blackrock.com |
Write: |
c/o
BlackRock Investments, LLC
1 University Square Drive, Princeton, NJ 08540 |
July 31, 2020 | |
2020 Prospectus |
• |
iShares S&P Small-Cap
600 Value ETF | IJS | NYSE ARCA
|
|
S-1 |
|
1 |
|
2 |
|
10 |
|
15 |
|
15 |
|
19 |
|
28 |
|
29 |
|
30 |
|
30 |
|
33 |
Ticker: IJS | Stock Exchange: NYSE Arca |
1 | The amount rounded to 0.00%. |
1 Year | 3 Years | 5 Years | 10 Years | |||
$26 | $80 | $141 | $318 |
1 | The Fund’s year-to-date return as of June 30, 2020 was -24.39%. |
One Year | Five Years | Ten Years | |||
(Inception Date: 7/24/2000) | |||||
Return Before Taxes | 24.25% | 8.07% | 12.33% | ||
Return After Taxes on Distributions1 | 23.67% | 7.64% | 11.94% | ||
Return After Taxes on Distributions and Sale of Fund Shares1 | 14.63% | 6.27% | 10.22% | ||
S&P SmallCap® 600 Value IndexTM (Index returns do not reflect deductions for fees, expenses, or taxes) | 24.54% | 8.26% | 12.52% |
1 | After-tax returns in the table above are calculated using the historical highest individual U.S. federal marginal income tax rates and do not reflect the impact of state or local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown, and after-tax returns shown are not relevant to tax-exempt investors or investors who hold shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts (“IRAs”). Fund returns after taxes on distributions and sales of Fund shares are calculated assuming that an investor has sufficient capital gains of the same character from other investments to offset any capital losses from the sale of Fund shares. As a result, Fund returns after taxes on distributions and sales of Fund shares may exceed Fund returns before taxes and/or returns after taxes on distributions. |
■ | General Impact. This outbreak has resulted in travel restrictions, closed international borders, enhanced health screenings at ports of entry and elsewhere, disruption of and delays in healthcare service preparation and delivery, prolonged quarantines, cancellations, supply chain disruptions, lower consumer demand, temporary closures of stores, restaurants and other commercial establishments, layoffs, defaults and other significant economic impacts, as well as general concern and uncertainty. |
■ | Market Volatility. The outbreak has also resulted in extreme volatility, severe losses, and disruptions in markets which can adversely impact the Fund and its investments, including impairing hedging activity to the extent a Fund engages in such activity, as expected correlations between related markets or instruments may no longer apply. In addition, to the extent the Fund invests in short-term instruments that have negative yields, the Fund’s value may be impaired as a result. Certain issuers of equity securities have cancelled or announced the suspension of dividends. The outbreak has, and may continue to, negatively affect the credit ratings of some fixed income securities and their issuers. |
■ | Market Closures. Certain local markets have been or may be subject to closures, and there can be no assurance that trading will continue in any local markets in which the Fund may invest, when any resumption of trading will occur or, once such markets resume trading, whether they will face further closures. Any suspension of trading in markets in which the Fund invests will have an impact on the Fund and its investments and will impact the Fund’s ability to purchase or sell securities in such markets. |
■ | Operational Risk. The outbreak could also impair the information technology and other operational systems upon which the Fund’s service providers, including BFA, rely, and could otherwise disrupt the ability of employees of the Fund’s service providers to perform critical tasks relating to the Fund, for example, due to the service providers’ employees performing tasks in alternate locations than under normal operating conditions or the illness of certain employees of the Fund’s service providers. |
■ | Governmental Interventions. Governmental and quasi-governmental authorities and regulators throughout the world have responded to the outbreak and the resulting economic disruptions with a variety of fiscal and monetary policy changes, including direct capital infusions into companies and other issuers, new monetary policy tools, and lower interest rates. An unexpected or sudden reversal of these policies, or the ineffectiveness of such policies, is likely to increase market volatility, which could adversely affect the Fund’s investments. |
■ | Pre-Existing Conditions. Public health crises caused by the outbreak may exacerbate other pre-existing political, social and economic risks in certain countries or globally. |
Approximate
Value of a Creation Unit |
Creation
Unit Size |
Standard
Creation/ Redemption Transaction Fee |
Maximum
Additional
Charge for Creations* |
Maximum
Additional
Charge for Redemptions* |
||||
$5,698,000 | 50,000 | $1,100 | 3.0% | 2.0% |
* | As a percentage of the net asset value per Creation Unit, inclusive, in the case of redemptions, of the standard redemption transaction fee. |
iShares S&P Small-Cap 600 Value ETF | |||||||||
Year
Ended
03/31/20 |
Year
Ended
03/31/19 |
Year
Ended
03/31/18 |
Year
Ended
03/31/17 |
Year
Ended
03/31/16 |
|||||
Net asset value, beginning of year | $ 147.61 | $ 150.98 | $ 138.72 | $ 113.35 | $ 118.82 | ||||
Net investment income(a) | 2.19 | 2.40 | 2.06 | 1.91 | 1.59 | ||||
Net realized and unrealized gain (loss)(b) | (46.89) | (3.43) | 12.28 | 25.38 | (5.45) | ||||
Net increase (decrease) from investment operations | (44.70) | (1.03) | 14.34 | 27.29 | (3.86) | ||||
Distributions (c) | |||||||||
From net investment income | (2.64) | (2.34) | (2.08) | (1.92) | (1.61) | ||||
Total distributions | (2.64) | (2.34) | (2.08) | (1.92) | (1.61) | ||||
Net asset value, end of year | $ 100.27 | $ 147.61 | $ 150.98 | $ 138.72 | $ 113.35 | ||||
Total Return | |||||||||
Based on net asset value | (30.75)% | (0.71)% | 10.38% | 24.19% | (3.22)% | ||||
Ratios to Average Net Assets | |||||||||
Total expenses | 0.25% | 0.25% | 0.25% | 0.25% | 0.25% | ||||
Net investment income | 1.48% | 1.54% | 1.41% | 1.50% | 1.43% | ||||
Supplemental Data | |||||||||
Net assets, end of year (000) | $4,120,917 | $6,155,204 | $5,163,592 | $4,869,213 | $3,434,471 | ||||
Portfolio turnover rate(d) | 53% | 38% | 39% | 48% | 39% | ||||
(a) Based on average shares outstanding. |
|||||||||
(b) The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share transactions in relation to the fluctuating market values of the Fund’s underlying securities. | |||||||||
(c) Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | |||||||||
(d) Portfolio turnover rate excludes in-kind transactions. |
Premium/Discount Range | Number of Days | Percentage of Total Days | ||
Greater than 0.0% and Less than 0.5% | 151 | 40.06% | ||
At NAV | 35 | 9.28 | ||
Less than 0.0% and Greater than -0.5% | 188 | 49.86 | ||
Less than -0.5% and Greater than -1.0% | 3 | 0.80 | ||
377 | 100.00% |
Average Annual Total Returns | Cumulative Total Returns | ||||||
1 Year | 5 Years | 10 Years | 1 Year | 5 Years | 10 Years | ||
Fund NAV | (30.75)% | (1.82)% | 6.19% | (30.75)% | (8.79)% | 82.28% | |
Fund Market | (30.94) | (1.88) | 6.16 | (30.94) | (9.05) | 81.88 | |
Index | (30.64) | (1.67) | 6.37 | (30.64) | (8.06) | 85.40 |
Call: |
1-800-iShares
or 1-800-474-2737 (toll free)
Monday through Friday, 8:30 a.m. to 6:30 p.m. (Eastern time) |
Email: | iSharesETFs@blackrock.com |
Write: |
c/o
BlackRock Investments, LLC
1 University Square Drive, Princeton, NJ 08540 |
July 31, 2020 | |
2020 Prospectus |
• |
iShares U.S. Aerospace
& Defense ETF | ITA | CBOE BZX
|
|
S-1 |
|
1 |
|
2 |
|
10 |
|
12 |
|
12 |
|
15 |
|
25 |
|
26 |
|
27 |
|
27 |
|
30 |
Ticker: ITA | Stock Exchange: Cboe BZX |
1 | The amount rounded to 0.00%. |
1 Year | 3 Years | 5 Years | 10 Years | |||
$43 | $135 | $235 | $530 |
1 | The Fund’s year-to-date return as of June 30, 2020 was -25.27%. |
One Year | Five Years | Ten Years | |||
(Inception Date: 5/1/2006) | |||||
Return Before Taxes | 30.47% | 15.45% | 17.32% | ||
Return After Taxes on Distributions2 | 29.98% | 15.13% | 17.01% | ||
Return After Taxes on Distributions and Sale of Fund Shares2 | 18.37% | 12.41% | 14.76% | ||
Dow Jones U.S. Select Aerospace & Defense Index (Index returns do not reflect deductions for fees, expenses, or taxes) | 31.16% | 15.97% | 17.81% |
2 | After-tax returns in the table above are calculated using the historical highest individual U.S. federal marginal income tax rates and do not reflect the impact of state or local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown, and after-tax returns shown are not relevant to tax-exempt investors or investors who hold shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts (“IRAs”). Fund returns after taxes on distributions and sales of Fund shares are calculated assuming that an investor has sufficient capital gains of the same character from other investments to offset any capital losses from the sale of Fund shares. As a result, Fund returns after taxes on distributions and sales of Fund shares may exceed Fund returns before taxes and/or returns after taxes on distributions. |
■ | General Impact. This outbreak has resulted in travel restrictions, closed international borders, enhanced health screenings at ports of entry and elsewhere, disruption of and delays in healthcare service preparation and delivery, prolonged quarantines, cancellations, supply chain disruptions, lower consumer demand, temporary closures of stores, restaurants and other commercial establishments, layoffs, defaults and other significant economic impacts, as well as general concern and uncertainty. |
■ | Market Volatility. The outbreak has also resulted in extreme volatility, severe losses, and disruptions in markets which can adversely impact the Fund and its investments, including impairing hedging activity to the extent a Fund engages in |
such activity, as expected correlations between related markets or instruments may no longer apply. In addition, to the extent the Fund invests in short-term instruments that have negative yields, the Fund’s value may be impaired as a result. Certain issuers of equity securities have cancelled or announced the suspension of dividends. The outbreak has, and may continue to, negatively affect the credit ratings of some fixed income securities and their issuers. | |
■ | Market Closures. Certain local markets have been or may be subject to closures, and there can be no assurance that trading will continue in any local markets in which the Fund may invest, when any resumption of trading will occur or, once such markets resume trading, whether they will face further closures. Any suspension of trading in markets in which the Fund invests will have an impact on the Fund and its investments and will impact the Fund’s ability to purchase or sell securities in such markets. |
■ | Operational Risk. The outbreak could also impair the information technology and other operational systems upon which the Fund’s service providers, including BFA, rely, and could otherwise disrupt the ability of employees of the Fund’s service providers to perform critical tasks relating to the Fund, for example, due to the service providers’ employees performing tasks in alternate locations than under normal operating conditions or the illness of certain employees of the Fund’s service providers. |
■ | Governmental Interventions. Governmental and quasi-governmental authorities and regulators throughout the world have responded to the outbreak and the resulting economic disruptions with a variety of fiscal and monetary policy changes, including direct capital infusions into companies and other issuers, new monetary policy tools, and lower interest rates. An unexpected or sudden reversal of these policies, or the ineffectiveness of such policies, is likely to increase market volatility, which could adversely affect the Fund’s investments. |
■ | Pre-Existing Conditions. Public health crises caused by the outbreak may exacerbate other pre-existing political, social and economic risks in certain countries or globally. |
Approximate
Value of a Creation Unit |
Creation
Unit Size |
Standard
Creation/ Redemption Transaction Fee |
Maximum
Additional
Charge for Creations* |
Maximum
Additional
Charge for Redemptions* |
||||
$7,790,500 | 50,000 | $250 | 3.0% | 2.0% |
* | As a percentage of the net asset value per Creation Unit, inclusive, in the case of redemptions, of the standard redemption transaction fee. |
iShares U.S. Aerospace & Defense ETF | |||||||||||
Year
Ended
03/31/20 |
Year
Ended
03/31/19 |
Year
Ended
03/31/18 |
Year
Ended
03/31/17 |
Period
From
05/01/15 to 03/31/16 (a) |
Year
Ended
04/30/15 |
||||||
Net asset value, beginning of period | $ 199.59 | $ 197.93 | $ 148.79 | $ 116.90 | $ 120.15 | $ 108.61 | |||||
Net investment income(b) | 3.37 | 1.78 | 1.55 | 1.71 | 1.05 | 1.46 | |||||
Net realized and unrealized gain (loss)(c) | (55.46) | 2.00 | 49.41 | 31.69 | (3.26) | 11.76 | |||||
Net increase (decrease) from investment operations | (52.09) | 3.78 | 50.96 | 33.40 | (2.21) | 13.22 | |||||
Distributions (d) | |||||||||||
From net investment income | (3.62) | (1.83) | (1.82) | (1.51) | (1.04) | (1.68) | |||||
From net realized gain | — | (0.29) | — | — | — | — | |||||
Total distributions | (3.62) | (2.12) | (1.82) | (1.51) | (1.04) | (1.68) | |||||
Net asset value, end of period | $ 143.88 | $ 199.59 | $ 197.93 | $ 148.79 | $ 116.90 | $ 120.15 | |||||
Total Return | |||||||||||
Based on net asset value | (26.58)% | 1.91% | 34.40% | 28.70% | (1.84)% (e) | 12.28% | |||||
Ratios to Average Net Assets | |||||||||||
Total expenses | 0.42% | 0.42% | 0.43% | 0.44% | 0.44% (f) | 0.43% | |||||
Net investment income | 1.57% | 0.90% | 0.87% | 1.24% | 0.99% (f) | 1.29% | |||||
Supplemental Data | |||||||||||
Net assets, end of period (000) | $2,834,403 | $5,019,632 | $5,749,730 | $2,574,090 | $637,129 | $546,702 | |||||
Portfolio turnover rate(g) | 20% | 38% | 14% | 14% | 17% (e) | 15% | |||||
(a) The Fund's fiscal year-end changed from April 30 to March 31. |
|||||||||||
(b) Based on average shares outstanding. | |||||||||||
(c) The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share transactions in relation to the fluctuating market values of the Fund’s underlying securities. | |||||||||||
(d) Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | |||||||||||
(e) Not annualized. | |||||||||||
(f) Annualized. | |||||||||||
(g) Portfolio turnover rate excludes in-kind transactions. |
Premium/Discount Range | Number of Days | Percentage of Total Days | ||
Greater than 0.0% and Less than 0.5% | 140 | 37.14% | ||
At NAV | 76 | 20.16 | ||
Less than 0.0% and Greater than -0.5% | 161 | 42.70 | ||
377 | 100.00% |
Average Annual Total Returns | Cumulative Total Returns | ||||||
1 Year | 5 Years | 10 Years | 1 Year | 5 Years | 10 Years | ||
Fund NAV | (26.58)% | 4.27% | 10.98% | (26.58)% | 23.27% | 183.35% | |
Fund Market | (26.57) | 4.28 | 10.98 | (26.57) | 23.32 | 183.31 | |
Index | (26.23) | 4.74 | 11.44 | (26.23) | 26.07 | 195.46 |
Call: |
1-800-iShares
or 1-800-474-2737 (toll free)
Monday through Friday, 8:30 a.m. to 6:30 p.m. (Eastern time) |
Email: | iSharesETFs@blackrock.com |
Write: |
c/o
BlackRock Investments, LLC
1 University Square Drive, Princeton, NJ 08540 |
July 31, 2020 | |
2020 Prospectus |
• |
iShares U.S.
Broker-Dealers & Securities Exchanges ETF | IAI | NYSE ARCA
|
|
S-1 |
|
1 |
|
2 |
|
10 |
|
12 |
|
12 |
|
16 |
|
25 |
|
26 |
|
27 |
|
27 |
|
30 |
Ticker: IAI | Stock Exchange: NYSE Arca |
1 | The amount rounded to 0.00%. |
1 Year | 3 Years | 5 Years | 10 Years | |||
$43 | $135 | $235 | $530 |
1 | The Fund’s year-to-date return as of June 30, 2020 was -11.54%. |
One Year | Five Years | Ten Years | |||
(Inception Date: 5/1/2006) | |||||
Return Before Taxes | 24.25% | 11.70% | 11.10% | ||
Return After Taxes on Distributions1 | 23.76% | 11.29% | 10.75% | ||
Return After Taxes on Distributions and Sale of Fund Shares1 | 14.65% | 9.25% | 9.13% | ||
Dow Jones U.S. Select Investment Services Index (Index returns do not reflect deductions for fees, expenses, or taxes) | 24.70% | 12.14% | 11.46% |
1 | After-tax returns in the table above are calculated using the historical highest individual U.S. federal marginal income tax rates and do not reflect the impact of state or local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown, and after-tax returns shown are not relevant to tax-exempt investors or investors who hold shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts (“IRAs”). Fund returns after taxes on distributions and sales of Fund shares are calculated assuming that an investor has sufficient capital gains of the same character from other investments to offset any capital losses from the sale of Fund shares. As a result, Fund returns after taxes on distributions and sales of Fund shares may exceed Fund returns before taxes and/or returns after taxes on distributions. |
■ | General Impact. This outbreak has resulted in travel restrictions, closed international borders, enhanced health screenings at ports of entry and elsewhere, disruption of and delays in healthcare service preparation and delivery, prolonged quarantines, cancellations, supply chain disruptions, lower consumer demand, temporary closures of stores, restaurants and other commercial establishments, layoffs, defaults and other significant economic impacts, as well as general concern and uncertainty. |
■ | Market Volatility. The outbreak has also resulted in extreme volatility, severe losses, and disruptions in markets which can adversely impact the Fund and its investments, including impairing hedging activity to the extent a Fund engages in such activity, as expected correlations between related markets or instruments may no longer apply. In addition, to the extent the Fund invests in short-term instruments that have negative yields, the Fund’s value may be impaired as a result. Certain issuers of equity securities have cancelled or announced the suspension of dividends. The outbreak has, and may continue to, negatively affect the credit ratings of some fixed income securities and their issuers. |
■ | Market Closures. Certain local markets have been or may be subject to closures, and there can be no assurance that trading will continue in any local markets in which the Fund may invest, when any resumption of trading will occur or, once such markets resume trading, whether they will face further closures. Any suspension of trading in markets in which the Fund invests will have an impact on the Fund and its investments and will impact the Fund’s ability to purchase or sell securities in such markets. |
■ | Operational Risk. The outbreak could also impair the information technology and other operational systems upon which the Fund’s service providers, including BFA, rely, and could otherwise disrupt the ability of employees of the Fund’s service providers to perform critical tasks relating to the Fund, for example, due to the service providers’ employees performing tasks in alternate locations than under normal operating conditions or the illness of certain employees of the Fund’s service providers. |
■ | Governmental Interventions. Governmental and quasi-governmental authorities and regulators throughout the world have responded to the outbreak and the resulting economic disruptions with a variety of fiscal and monetary policy changes, including direct capital infusions into companies and other issuers, new monetary policy tools, and lower interest rates. An unexpected or sudden reversal of these policies, or the ineffectiveness of such policies, is likely to increase market volatility, which could adversely affect the Fund’s investments. |
■ | Pre-Existing Conditions. Public health crises caused by the outbreak may exacerbate other pre-existing political, social and economic risks in certain countries or globally. |
Approximate
Value of a Creation Unit |
Creation
Unit Size |
Standard
Creation/ Redemption Transaction Fee |
Maximum
Additional
Charge for Creations* |
Maximum
Additional
Charge for Redemptions* |
||||
$2,875,500 | 50,000 | $250 | 3.0% | 2.0% |
* | As a percentage of the net asset value per Creation Unit, inclusive, in the case of redemptions, of the standard redemption transaction fee. |
iShares U.S. Broker-Dealers & Securities Exchanges ETF | |||||||||||
Year
Ended
03/31/20 |
Year
Ended
03/31/19 |
Year
Ended
03/31/18 |
Year
Ended
03/31/17 |
Period
From
05/01/15 to 03/31/16 (a) |
Year
Ended
04/30/15 |
||||||
Net asset value, beginning of period | $ 58.82 | $ 65.50 | $ 51.31 | $ 37.44 | $ 42.46 | $ 37.45 | |||||
Net investment income(b) | 1.03 | 0.88 | 0.83 | 0.83 | 0.58 | 0.46 | |||||
Net realized and unrealized gain (loss)(c) | (7.46) | (6.51) | 14.15 | 13.77 | (4.89) | 5.02 | |||||
Net increase (decrease) from investment operations | (6.43) | (5.63) | 14.98 | 14.60 | (4.31) | 5.48 | |||||
Distributions (d) | |||||||||||
From net investment income | (1.09) | (1.05) | (0.79) | (0.73) | (0.71) | (0.47) | |||||
Total distributions | (1.09) | (1.05) | (0.79) | (0.73) | (0.71) | (0.47) | |||||
Net asset value, end of period | $ 51.30 | $ 58.82 | $ 65.50 | $ 51.31 | $ 37.44 | $ 42.46 | |||||
Total Return | |||||||||||
Based on net asset value | (11.15)% | (8.63)% | 29.39% | 39.27% | (10.23)% (e) | 14.68% | |||||
Ratios to Average Net Assets | |||||||||||
Total expenses | 0.42% | 0.42% | 0.43% | 0.44% | 0.44% (f) | 0.43% | |||||
Net investment income | 1.60% | 1.38% | 1.44% | 1.83% | 1.53% (f) | 1.14% | |||||
Supplemental Data | |||||||||||
Net assets, end of period (000) | $141,086 | $217,641 | $347,155 | $171,887 | $112,313 | $297,222 | |||||
Portfolio turnover rate(g) | 15% | 27% | 13% | 17% | 26% (e) | 19% | |||||
(a) The Fund's fiscal year-end changed from April 30 to March 31. |
|||||||||||
(b) Based on average shares outstanding. | |||||||||||
(c) The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share transactions in relation to the fluctuating market values of the Fund’s underlying securities. | |||||||||||
(d) Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | |||||||||||
(e) Not annualized. | |||||||||||
(f) Annualized. | |||||||||||
(g) Portfolio turnover rate excludes in-kind transactions. |
Premium/Discount Range | Number of Days | Percentage of Total Days | ||
Greater than 0.0% and Less than 0.5% | 104 | 27.59% | ||
At NAV | 73 | 19.36 | ||
Less than 0.0% and Greater than -0.5% | 200 | 53.05 | ||
377 | 100.00% |
Average Annual Total Returns | Cumulative Total Returns | ||||||
1 Year | 5 Years | 10 Years | 1 Year | 5 Years | 10 Years | ||
Fund NAV | (11.15)% | 5.41% | 7.92% | (11.15)% | 30.13% | 114.31% | |
Fund Market | (11.08) | 5.43 | 7.93 | (11.08) | 30.24 | 114.43 | |
Index | (10.73) | 5.84 | 8.28 | (10.73) | 32.83 | 121.50 |
Call: |
1-800-iShares
or 1-800-474-2737 (toll free)
Monday through Friday, 8:30 a.m. to 6:30 p.m. (Eastern time) |
Email: | iSharesETFs@blackrock.com |
Write: |
c/o
BlackRock Investments, LLC
1 University Square Drive, Princeton, NJ 08540 |
July 31, 2020 | |
2020 Prospectus |
• |
iShares U.S. Healthcare
Providers ETF | IHF | NYSE ARCA
|
|
S-1 |
|
1 |
|
2 |
|
10 |
|
12 |
|
12 |
|
15 |
|
24 |
|
25 |
|
26 |
|
26 |
|
29 |
Ticker: IHF | Stock Exchange: NYSE Arca |
1 | The amount rounded to 0.00%. |
1 Year | 3 Years | 5 Years | 10 Years | |||
$43 | $135 | $235 | $530 |
1 | The Fund’s year-to-date return as of June 30, 2020 was -3.84%. |
One Year | Five Years | Ten Years | |||
(Inception Date: 5/1/2006) | |||||
Return Before Taxes | 22.44% | 12.34% | 16.08% | ||
Return After Taxes on Distributions1 | 22.25% | 12.06% | 15.90% | ||
Return After Taxes on Distributions and Sale of Fund Shares1 | 13.39% | 9.83% | 13.70% | ||
Dow Jones U.S. Select Health Care Providers Index (Index returns do not reflect deductions for fees, expenses, or taxes) | 22.96% | 12.81% | 16.52% |
1 | After-tax returns in the table above are calculated using the historical highest individual U.S. federal marginal income tax rates and do not reflect the impact of state or local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown, and after-tax returns shown are not relevant to tax-exempt investors or investors who hold shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts (“IRAs”). Fund returns after taxes on distributions and sales of Fund shares are calculated assuming that an investor has sufficient capital gains of the same character from other investments to offset any capital losses from the sale of Fund shares. As a result, Fund returns after taxes on distributions and sales of Fund shares may exceed Fund returns before taxes and/or returns after taxes on distributions. |
■ | General Impact. This outbreak has resulted in travel restrictions, closed international borders, enhanced health screenings at ports of entry and elsewhere, disruption of and delays in healthcare service preparation and delivery, prolonged quarantines, cancellations, supply chain disruptions, lower consumer demand, temporary closures of stores, restaurants and other commercial establishments, layoffs, defaults and other significant economic impacts, as well as general concern and uncertainty. |
■ | Market Volatility. The outbreak has also resulted in extreme volatility, severe losses, and disruptions in markets which can adversely impact the Fund and its investments, including impairing hedging activity to the extent a Fund engages in such activity, as expected correlations between related markets or instruments may no longer apply. In addition, to the extent the Fund invests in short-term instruments that have negative yields, the Fund’s value may be impaired as a result. Certain |
issuers of equity securities have cancelled or announced the suspension of dividends. The outbreak has, and may continue to, negatively affect the credit ratings of some fixed income securities and their issuers. | |
■ | Market Closures. Certain local markets have been or may be subject to closures, and there can be no assurance that trading will continue in any local markets in which the Fund may invest, when any resumption of trading will occur or, once such markets resume trading, whether they will face further closures. Any suspension of trading in markets in which the Fund invests will have an impact on the Fund and its investments and will impact the Fund’s ability to purchase or sell securities in such markets. |
■ | Operational Risk. The outbreak could also impair the information technology and other operational systems upon which the Fund’s service providers, including BFA, rely, and could otherwise disrupt the ability of employees of the Fund’s service providers to perform critical tasks relating to the Fund, for example, due to the service providers’ employees performing tasks in alternate locations than under normal operating conditions or the illness of certain employees of the Fund’s service providers. |
■ | Governmental Interventions. Governmental and quasi-governmental authorities and regulators throughout the world have responded to the outbreak and the resulting economic disruptions with a variety of fiscal and monetary policy changes, including direct capital infusions into companies and other issuers, new monetary policy tools, and lower interest rates. An unexpected or sudden reversal of these policies, or the ineffectiveness of such policies, is likely to increase market volatility, which could adversely affect the Fund’s investments. |
■ | Pre-Existing Conditions. Public health crises caused by the outbreak may exacerbate other pre-existing political, social and economic risks in certain countries or globally. |
Approximate
Value of a Creation Unit |
Creation
Unit Size |
Standard
Creation/ Redemption Transaction Fee |
Maximum
Additional
Charge for Creations* |
Maximum
Additional
Charge for Redemptions* |
||||
$9,499,000 | 50,000 | $250 | 3.0% | 2.0% |
* | As a percentage of the net asset value per Creation Unit, inclusive, in the case of redemptions, of the standard redemption transaction fee. |
iShares U.S. Healthcare Providers ETF | |||||||||||
Year
Ended
03/31/20 |
Year
Ended
03/31/19 |
Year
Ended
03/31/18 |
Year
Ended
03/31/17 |
Period
From
05/01/15 to 03/31/16 (a) |
Year
Ended
04/30/15 |
||||||
Net asset value, beginning of period | $ 167.98 | $ 157.08 | $ 134.12 | $ 121.98 | $ 128.59 | $ 94.83 | |||||
Net investment income(b) | 1.25 | 0.54 | 0.35 | 0.31 | 0.24 | 0.21 | |||||
Net realized and unrealized gain (loss)(c) | (1.04) | 16.99 | 22.97 | 12.14 | (6.58) | 33.76 | |||||
Net increase (decrease) from investment operations | 0.21 | 17.53 | 23.32 | 12.45 | (6.34) | 33.97 | |||||
Distributions (d) | |||||||||||
From net investment income | (1.34) | (6.63) | (0.36) | (0.31) | (0.27) | (0.21) | |||||
Total distributions | (1.34) | (6.63) | (0.36) | (0.31) | (0.27) | (0.21) | |||||
Net asset value, end of period | $ 166.85 | $ 167.98 | $ 157.08 | $ 134.12 | $ 121.98 | $ 128.59 | |||||
Total Return | |||||||||||
Based on net asset value | 0.10% | 11.25% | 17.40% | 10.23% | (4.94)% (e) | 35.85% | |||||
Ratios to Average Net Assets | |||||||||||
Total expenses | 0.42% | 0.43% | 0.43% | 0.44% | 0.44% (f) | 0.43% | |||||
Net investment income | 0.70% | 0.29% | 0.24% | 0.25% | 0.20% (f) | 0.18% | |||||
Supplemental Data | |||||||||||
Net assets, end of period (000) | $784,201 | $797,909 | $471,251 | $529,775 | $676,989 | $822,992 | |||||
Portfolio turnover rate(g) | 30% | 48% | 20% | 12% | 16% (e) | 12% | |||||
(a) The Fund's fiscal year-end changed from April 30 to March 31. |
|||||||||||
(b) Based on average shares outstanding. | |||||||||||
(c) The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share transactions in relation to the fluctuating market values of the Fund’s underlying securities. | |||||||||||
(d) Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | |||||||||||
(e) Not annualized. | |||||||||||
(f) Annualized. | |||||||||||
(g) Portfolio turnover rate excludes in-kind transactions. |
Premium/Discount Range | Number of Days | Percentage of Total Days | ||
Greater than 0.5% and Less than 1.0% | 1 | 0.27% | ||
Greater than 0.0% and Less than 0.5% | 108 | 28.65 | ||
At NAV | 71 | 18.83 | ||
Less than 0.0% and Greater than -0.5% | 197 | 52.25 | ||
377 | 100.00% |
Average Annual Total Returns | Cumulative Total Returns | ||||||
1 Year | 5 Years | 10 Years | 1 Year | 5 Years | 10 Years | ||
Fund NAV | 0.10% | 5.78% | 13.13% | 0.10% | 32.41% | 243.49% | |
Fund Market | 0.10 | 5.77 | 13.13 | 0.10 | 32.36 | 243.32 | |
Index | 0.51 | 6.21 | 13.56 | 0.51 | 35.18 | 256.64 |
Call: |
1-800-iShares
or 1-800-474-2737 (toll free)
Monday through Friday, 8:30 a.m. to 6:30 p.m. (Eastern time) |
Email: | iSharesETFs@blackrock.com |
Write: |
c/o
BlackRock Investments, LLC
1 University Square Drive, Princeton, NJ 08540 |
July 31, 2020 | |
2020 Prospectus |
• |
iShares U.S. Home
Construction ETF | ITB | CBOE BZX
|
|
S-1 |
|
1 |
|
2 |
|
11 |
|
12 |
|
12 |
|
16 |
|
24 |
|
25 |
|
26 |
|
26 |
|
29 |
Ticker: ITB | Stock Exchange: Cboe BZX |
1 | The amount rounded to 0.00%. |
1 Year | 3 Years | 5 Years | 10 Years | |||
$43 | $135 | $235 | $530 |
1 | The Fund’s year-to-date return as of June 30, 2020 was -0.08%. |
One Year | Five Years | Ten Years | |||
(Inception Date: 5/1/2006) | |||||
Return Before Taxes | 48.89% | 11.86% | 14.54% | ||
Return After Taxes on Distributions2 | 48.69% | 11.74% | 14.43% | ||
Return After Taxes on Distributions and Sale of Fund Shares2 | 29.05% | 9.45% | 12.30% | ||
Dow Jones U.S. Select Home Construction Index (Index returns do not reflect deductions for fees, expenses, or taxes) | 49.60% | 12.34% | 15.07% |
2 | After-tax returns in the table above are calculated using the historical highest individual U.S. federal marginal income tax rates and do not reflect the impact of state or local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown, and after-tax returns shown are not relevant to tax-exempt investors or investors who hold shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts (“IRAs”). Fund returns after taxes on distributions and sales of Fund shares are calculated assuming that an investor has sufficient capital gains of the same character from other investments to offset any capital losses from the sale of Fund shares. As a result, Fund returns after taxes on distributions and sales of Fund shares may exceed Fund returns before taxes and/or returns after taxes on distributions. |
■ | General Impact. This outbreak has resulted in travel restrictions, closed international borders, enhanced health screenings at ports of entry and elsewhere, disruption of and delays in healthcare service preparation and delivery, prolonged quarantines, cancellations, supply chain disruptions, lower consumer demand, temporary closures of stores, restaurants and other commercial establishments, layoffs, defaults and other significant economic impacts, as well as general concern and uncertainty. |
■ | Market Volatility. The outbreak has also resulted in extreme volatility, severe losses, and disruptions in markets which can adversely impact the Fund and its investments, including impairing hedging activity to the extent a Fund engages in such activity, as expected correlations between related markets or instruments may no longer apply. In addition, to the extent the Fund invests in short-term instruments that have negative yields, the Fund’s value may be impaired as a result. Certain issuers of equity securities have cancelled or announced the suspension of dividends. The outbreak has, and may continue to, negatively affect the credit ratings of some fixed income securities and their issuers. |
■ | Market Closures. Certain local markets have been or may be subject to closures, and there can be no assurance that trading will continue in any local markets in which the Fund may invest, when any resumption of trading will occur or, once such markets resume trading, whether they will face further closures. Any suspension of trading in markets in which the Fund invests will have an impact on the Fund and its investments and will impact the Fund’s ability to purchase or sell securities in such markets. |
■ | Operational Risk. The outbreak could also impair the information technology and other operational systems upon which the Fund’s service providers, including BFA, rely, and could otherwise disrupt the ability of employees of the Fund’s service providers to perform critical tasks relating to the Fund, for example, due to the service providers’ employees performing tasks in alternate locations than under normal operating conditions or the illness of certain employees of the Fund’s service providers. |
■ | Governmental Interventions. Governmental and quasi-governmental authorities and regulators throughout the world have responded to the outbreak and the resulting economic disruptions with a variety of fiscal and monetary policy changes, including direct capital infusions into companies and other issuers, new monetary policy tools, and lower interest rates. An unexpected or sudden reversal of these policies, or the ineffectiveness of such policies, is likely to increase market volatility, which could adversely affect the Fund’s investments. |
■ | Pre-Existing Conditions. Public health crises caused by the outbreak may exacerbate other pre-existing political, social and economic risks in certain countries or globally. |
Approximate
Value of a Creation Unit |
Creation
Unit Size |
Standard
Creation/ Redemption Transaction Fee |
Maximum
Additional
Charge for Creations* |
Maximum
Additional
Charge for Redemptions* |
||||
$1,824,000 | 50,000 | $250 | 3.0% | 2.0% |
* | As a percentage of the net asset value per Creation Unit, inclusive, in the case of redemptions, of the standard redemption transaction fee. |
iShares U.S. Home Construction ETF | |||||||||||
Year
Ended
03/31/20 |
Year
Ended
03/31/19 |
Year
Ended
03/31/18 |
Year
Ended
03/31/17 |
Period
From
05/01/15 to 03/31/16 (a) |
Year
Ended
04/30/15 |
||||||
Net asset value, beginning of period | $ 35.26 | $ 39.24 | $ 31.97 | $ 27.09 | $ 25.90 | $ 23.36 | |||||
Net investment income(b) | 0.23 | 0.19 | 0.13 | 0.11 | 0.10 | 0.09 | |||||
Net realized and unrealized gain (loss)(c) | (6.31) | (3.97) | 7.28 | 4.89 | 1.19 | 2.54 | |||||
Net increase (decrease) from investment operations | (6.08) | (3.78) | 7.41 | 5.00 | 1.29 | 2.63 | |||||
Distributions (d) | |||||||||||
From net investment income | (0.24) | (0.20) | (0.14) | (0.12) | (0.10) | (0.09) | |||||
Total distributions | (0.24) | (0.20) | (0.14) | (0.12) | (0.10) | (0.09) | |||||
Net asset value, end of period | $ 28.94 | $ 35.26 | $ 39.24 | $ 31.97 | $ 27.09 | $ 25.90 | |||||
Total Return | |||||||||||
Based on net asset value | (17.40)% | (9.60)% | 23.19% | 18.50% | 5.00% (e) | 11.28% | |||||
Ratios to Average Net Assets | |||||||||||
Total expenses | 0.42% | 0.42% | 0.43% | 0.44% | 0.44% (f) | 0.43% | |||||
Net investment income | 0.55% | 0.53% | 0.34% | 0.41% | 0.39% (f) | 0.38% | |||||
Supplemental Data | |||||||||||
Net assets, end of period (000) | $707,640 | $1,147,657 | $1,618,817 | $1,426,069 | $1,476,333 | $2,011,455 | |||||
Portfolio turnover rate(g) | 15% | 17% | 18% | 12% | 14% (e) | 13% | |||||
(a) The Fund's fiscal year-end changed from April 30 to March 31. |
|||||||||||
(b) Based on average shares outstanding. | |||||||||||
(c) The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share transactions in relation to the fluctuating market values of the Fund’s underlying securities. | |||||||||||
(d) Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | |||||||||||
(e) Not annualized. | |||||||||||
(f) Annualized. | |||||||||||
(g) Portfolio turnover rate excludes in-kind transactions. |
Premium/Discount Range | Number of Days | Percentage of Total Days | ||
Greater than 0.0% and Less than 0.5% | 164 | 43.50% | ||
At NAV | 46 | 12.20 | ||
Less than 0.0% and Greater than -0.5% | 167 | 44.30 | ||
377 | 100.00% |
Average Annual Total Returns | Cumulative Total Returns | ||||||
1 Year | 5 Years | 10 Years | 1 Year | 5 Years | 10 Years | ||
Fund NAV | (17.40)% | 0.95% | 8.43% | (17.40)% | 4.85% | 124.67% | |
Fund Market | (17.32) | 0.97 | 8.44 | (17.32) | 4.96 | 124.82 | |
Index | (17.04) | 1.37 | 8.89 | (17.04) | 7.06 | 134.43 |
Call: |
1-800-iShares
or 1-800-474-2737 (toll free)
Monday through Friday, 8:30 a.m. to 6:30 p.m. (Eastern time) |
Email: | iSharesETFs@blackrock.com |
Write: |
c/o
BlackRock Investments, LLC
1 University Square Drive, Princeton, NJ 08540 |
July 31, 2020 | |
2020 Prospectus |
• |
iShares U.S.
Infrastructure ETF | IFRA | CBOE BZX
|
|
S-1 |
|
1 |
|
2 |
|
13 |
|
14 |
|
14 |
|
17 |
|
26 |
|
27 |
|
28 |
|
28 |
|
30 |
Ticker: IFRA | Stock Exchange: Cboe BZX |
1 | The amount rounded to 0.00%. |
1 Year | 3 Years | 5 Years | 10 Years | |||
$41 | $128 | $224 | $505 |
1 | The Fund’s year-to-date return as of June 30, 2020 was -16.49%. |
One Year | Since Inception | ||
(Inception Date: 4/3/2018) | |||
Return Before Taxes | 26.67% | 9.91% | |
Return After Taxes on Distributions1 | 26.14% | 9.17% | |
Return After Taxes on Distributions and Sale of Fund Shares1 | 16.12% | 7.42% | |
NYSE ® FactSet U.S. Infrastructure IndexTM (Index returns do not reflect deductions for fees, expenses, or taxes) | 27.13% | 10.39% |
2 | After-tax returns in the table above are calculated using the historical highest individual U.S. federal marginal income tax rates and do not reflect the impact of state or local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown, and after-tax returns shown are not relevant to tax-exempt investors or investors who hold shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts (“IRAs”). Fund returns after taxes on distributions and sales of Fund shares are calculated assuming that an investor has sufficient capital gains of the same character from other investments to offset any capital losses from the sale of Fund shares. As a result, Fund returns after taxes on distributions and sales of Fund shares may exceed Fund returns before taxes and/or returns after taxes on distributions. |
■ | General Impact. This outbreak has resulted in travel restrictions, closed international borders, enhanced health screenings at ports of entry and elsewhere, disruption of and delays in healthcare service preparation and delivery, prolonged quarantines, cancellations, supply chain disruptions, lower consumer demand, temporary closures of stores, restaurants and other commercial establishments, layoffs, defaults and other significant economic impacts, as well as general concern and uncertainty. |
■ | Market Volatility. The outbreak has also resulted in extreme volatility, severe losses, and disruptions in markets which can adversely impact the Fund and its investments, including impairing hedging activity to the extent a Fund engages in such activity, as expected correlations between related markets or instruments may |
no longer apply. In addition, to the extent the Fund invests in short-term instruments that have negative yields, the Fund’s value may be impaired as a result. Certain issuers of equity securities have cancelled or announced the suspension of dividends. The outbreak has, and may continue to, negatively affect the credit ratings of some fixed income securities and their issuers. | |
■ | Market Closures. Certain local markets have been or may be subject to closures, and there can be no assurance that trading will continue in any local markets in which the Fund may invest, when any resumption of trading will occur or, once such markets resume trading, whether they will face further closures. Any suspension of trading in markets in which the Fund invests will have an impact on the Fund and its investments and will impact the Fund’s ability to purchase or sell securities in such markets. |
■ | Operational Risk. The outbreak could also impair the information technology and other operational systems upon which the Fund’s service providers, including BFA, rely, and could otherwise disrupt the ability of employees of the Fund’s service providers to perform critical tasks relating to the Fund, for example, due to the service providers’ employees performing tasks in alternate locations than under normal operating conditions or the illness of certain employees of the Fund’s service providers. |
■ | Governmental Interventions. Governmental and quasi-governmental authorities and regulators throughout the world have responded to the outbreak and the resulting economic disruptions with a variety of fiscal and monetary policy changes, including direct capital infusions into companies and other issuers, new monetary policy tools, and lower interest rates. An unexpected or sudden reversal of these policies, or the ineffectiveness of such policies, is likely to increase market volatility, which could adversely affect the Fund’s investments. |
■ | Pre-Existing Conditions. Public health crises caused by the outbreak may exacerbate other pre-existing political, social and economic risks in certain countries or globally. |
Approximate
Value of a Creation Unit |
Creation
Unit Size |
Standard
Creation/ Redemption Transaction Fee |
Maximum
Additional
Charge for Creations* |
Maximum
Additional
Charge for Redemptions* |
||||
$1,121,500 | 50,000 | $475 | 3% | 2% |
* | As a percentage of the net asset value per Creation Unit, inclusive, in the case of redemptions, of the standard redemption transaction fee. |
iShares U.S. Infrastructure ETF | |||
Year
Ended
03/31/20 |
Period
From
04/03/18(a) to 03/31/19 |
||
Net asset value, beginning of period | $ 26.31 | $25.31 | |
Net investment income(b) | 0.49 | 0.43 | |
Net realized and unrealized gain (loss)(c) | (6.00) | 1.24 | |
Net increase (decrease) from investment operations | (5.51) | 1.67 | |
Distributions (d) | |||
From net investment income | (0.47) | (0.34) | |
From net realized gain | — | (0.33) | |
Return of capital | (0.06) | (0.00) (e) | |
Total distributions | (0.53) | (0.67) | |
Net asset value, end of period | $ 20.27 | $ 26.31 | |
Total Return | |||
Based on net asset value | (21.26)% | 6.78% (f) | |
Ratios to Average Net Assets | |||
Total expenses | 0.40% | 0.40% (g) | |
Net investment income | 1.84% | 1.67% (g) | |
Supplemental Data | |||
Net assets, end of period (000) | $ 5,068 | $ 5,262 | |
Portfolio turnover rate(h) | 23% | 43% (f) | |
(a) Commencement of operations. |
|||
(b) Based on average shares outstanding. | |||
(c) The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share transactions in relation to the fluctuating market values of the Fund’s underlying securities. | |||
(d) Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | |||
(e) Rounds to less than $0.01. | |||
(f) Not annualized. | |||
(g) Annualized. | |||
(h) Portfolio turnover rate excludes in-kind transactions. |
Premium/Discount Range | Number of Days | Percentage of Total Days | ||
Greater than 0.0% and Less than 0.5% | 214 | 56.76% | ||
At NAV | 23 | 6.10 | ||
Less than 0.0% and Greater than -0.5% | 140 | 37.14 | ||
377 | 100.00% |
Average Annual Total Returns | Cumulative Total Returns | ||||
1 Year |
Since
Inception |
1 Year |
Since
Inception |
||
Fund NAV | (21.26)% | (8.33)% | (21.26)% | (15.93)% | |
Fund Market | (21.23) | (8.33) | (21.23) | (15.93) | |
Index | (21.15) | (8.06) | (21.15) | (15.41) |
Total returns for the period since inception are calculated from the inception date of the Fund (4/3/18). The first day of secondary market trading in shares of the Fund was 4/5/18. |
Call: |
1-800-iShares
or 1-800-474-2737 (toll free)
Monday through Friday, 8:30 a.m. to 6:30 p.m. (Eastern time) |
Email: | iSharesETFs@blackrock.com |
Write: |
c/o
BlackRock Investments, LLC
1 University Square Drive, Princeton, NJ 08540 |
July 31, 2020 | |
2020 Prospectus |
• |
iShares U.S. Insurance
ETF | IAK | NYSE ARCA
|
|
S-1 |
|
1 |
|
2 |
|
10 |
|
12 |
|
12 |
|
16 |
|
24 |
|
25 |
|
26 |
|
26 |
|
29 |
Ticker: IAK | Stock Exchange: NYSE Arca |
1 | The amount rounded to 0.00%. |
1 Year | 3 Years | 5 Years | 10 Years | |||
$43 | $135 | $235 | $530 |
1 | The Fund’s year-to-date return as of June 30, 2020 was -22.02%. |
One Year | Five Years | Ten Years | |||
(Inception Date: 5/1/2006) | |||||
Return Before Taxes | 25.50% | 9.40% | 12.31% | ||
Return After Taxes on Distributions1 | 24.93% | 8.92% | 11.88% | ||
Return After Taxes on Distributions and Sale of Fund Shares1 | 15.47% | 7.37% | 10.21% | ||
Dow Jones U.S. Select Insurance Index (Index returns do not reflect deductions for fees, expenses, or taxes) | 25.98% | 9.83% | 12.81% |
1 | After-tax returns in the table above are calculated using the historical highest individual U.S. federal marginal income tax rates and do not reflect the impact of state or local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown, and after-tax returns shown are not relevant to tax-exempt investors or investors who hold shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts (“IRAs”). Fund returns after taxes on distributions and sales of Fund shares are calculated assuming that an investor has sufficient capital gains of the same character from other investments to offset any capital losses from the sale of Fund shares. As a result, Fund returns after taxes on distributions and sales of Fund shares may exceed Fund returns before taxes and/or returns after taxes on distributions. |
■ | General Impact. This outbreak has resulted in travel restrictions, closed international borders, enhanced health screenings at ports of entry and elsewhere, disruption of and delays in healthcare service preparation and delivery, prolonged quarantines, cancellations, supply chain disruptions, lower consumer demand, temporary closures of stores, restaurants and other commercial establishments, layoffs, defaults and other significant economic impacts, as well as general concern and uncertainty. |
■ | Market Volatility. The outbreak has also resulted in extreme volatility, severe losses, and disruptions in markets which can adversely impact the Fund and its investments, including impairing hedging activity to the extent a Fund engages in such activity, as expected correlations between related markets or instruments may no longer apply. In addition, to the extent the Fund invests in short-term instruments that have negative yields, the Fund’s value may be impaired as a result. Certain issuers of equity securities have cancelled or announced the suspension of dividends. The outbreak has, and may continue to, negatively affect the credit ratings of some fixed income securities and their issuers. |
■ | Market Closures. Certain local markets have been or may be subject to closures, and there can be no assurance that trading will continue in any local markets in which the Fund may invest, when any resumption of trading will occur or, once such markets resume trading, whether they will face further closures. Any suspension of trading in markets in which the Fund invests will have an impact on the Fund and its investments and will impact the Fund’s ability to purchase or sell securities in such markets. |
■ | Operational Risk. The outbreak could also impair the information technology and other operational systems upon which the Fund’s service providers, including BFA, rely, and could otherwise disrupt the ability of employees of the Fund’s service providers to perform critical tasks relating to the Fund, for example, due to the service providers’ employees performing tasks in alternate locations than under normal operating conditions or the illness of certain employees of the Fund’s service providers. |
■ | Governmental Interventions. Governmental and quasi-governmental authorities and regulators throughout the world have responded to the outbreak and the resulting economic disruptions with a variety of fiscal and monetary policy changes, including direct capital infusions into companies and other issuers, new monetary policy tools, and lower interest rates. An unexpected or sudden reversal of these policies, or the ineffectiveness of such policies, is likely to increase market volatility, which could adversely affect the Fund’s investments. |
■ | Pre-Existing Conditions. Public health crises caused by the outbreak may exacerbate other pre-existing political, social and economic risks in certain countries or globally. |
Approximate
Value of a Creation Unit |
Creation
Unit Size |
Standard
Creation/ Redemption Transaction Fee |
Maximum
Additional
Charge for Creations* |
Maximum
Additional
Charge for Redemptions* |
||||
$2,591,500 | 50,000 | $250 | 3.0% | 2.0% |
* | As a percentage of the net asset value per Creation Unit, inclusive, in the case of redemptions, of the standard redemption transaction fee. |
iShares U.S. Insurance ETF | |||||||||||
Year
Ended
03/31/20 |
Year
Ended
03/31/19 |
Year
Ended
03/31/18 |
Year
Ended
03/31/17 |
Period
From
05/01/15 to 03/31/16 (a) |
Year
Ended
04/30/15 |
||||||
Net asset value, beginning of period | $ 63.64 | $ 64.54 | $ 60.46 | $ 49.91 | $ 49.04 | $ 46.26 | |||||
Net investment income(b) | 1.35 | 1.23 | 1.18 | 1.03 | 0.87 | 0.75 | |||||
Net realized and unrealized gain (loss)(c) | (13.77) | (0.89) | 4.20 | 10.48 | 0.90 | 2.79 | |||||
Net increase (decrease) from investment operations | (12.42) | 0.34 | 5.38 | 11.51 | 1.77 | 3.54 | |||||
Distributions (d) | |||||||||||
From net investment income | (1.46) | (1.24) | (1.30) | (0.96) | (0.90) | (0.76) | |||||
Total distributions | (1.46) | (1.24) | (1.30) | (0.96) | (0.90) | (0.76) | |||||
Net asset value, end of period | $ 49.76 | $ 63.64 | $ 64.54 | $ 60.46 | $ 49.91 | $ 49.04 | |||||
Total Return | |||||||||||
Based on net asset value | (19.92)% | 0.60% | 8.93% | 23.25% | 3.60% (e) | 7.67% | |||||
Ratios to Average Net Assets | |||||||||||
Total expenses | 0.42% | 0.43% | 0.43% | 0.44% | 0.44% (f) | 0.43% | |||||
Net investment income | 1.95% | 1.94% | 1.85% | 1.86% | 1.89% (f) | 1.57% | |||||
Supplemental Data | |||||||||||
Net assets, end of period (000) | $62,206 | $98,637 | $132,302 | $166,264 | $99,823 | $120,146 | |||||
Portfolio turnover rate(g) | 8% | 17% | 12% | 14% | 10% (e) | 12% | |||||
(a) The Fund's fiscal year-end changed from April 30 to March 31. |
|||||||||||
(b) Based on average shares outstanding. | |||||||||||
(c) The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share transactions in relation to the fluctuating market values of the Fund’s underlying securities. | |||||||||||
(d) Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | |||||||||||
(e) Not annualized. | |||||||||||
(f) Annualized. | |||||||||||
(g) Portfolio turnover rate excludes in-kind transactions. |
Premium/Discount Range | Number of Days | Percentage of Total Days | ||
Greater than 0.0% and Less than 0.5% | 102 | 27.06% | ||
At NAV | 50 | 13.26 | ||
Less than 0.0% and Greater than -0.5% | 224 | 59.41 | ||
Less than -1.0% and Greater than -1.5% | 1 | 0.27 | ||
377 | 100.00% |
Average Annual Total Returns | Cumulative Total Returns | ||||||
1 Year | 5 Years | 10 Years | 1 Year | 5 Years | 10 Years | ||
Fund NAV | (19.92)% | 2.12% | 7.03% | (19.92)% | 11.09% | 97.27% | |
Fund Market | (19.89) | 2.12 | 7.03 | (19.89) | 11.09 | 97.31 | |
Index | (19.61) | 2.53 | 7.50 | (19.61) | 13.31 | 106.07 |
Call: |
1-800-iShares
or 1-800-474-2737 (toll free)
Monday through Friday, 8:30 a.m. to 6:30 p.m. (Eastern time) |
Email: | iSharesETFs@blackrock.com |
Write: |
c/o
BlackRock Investments, LLC
1 University Square Drive, Princeton, NJ 08540 |
July 31, 2020 | |
2020 Prospectus |
• |
iShares U.S. Medical
Devices ETF | IHI | NYSE ARCA
|
|
S-1 |
|
1 |
|
2 |
|
10 |
|
12 |
|
12 |
|
16 |
|
25 |
|
26 |
|
27 |
|
27 |
|
30 |
Ticker: IHI | Stock Exchange: NYSE Arca |
1 | The amount rounded to 0.00%. |
1 Year | 3 Years | 5 Years | 10 Years | |||
$43 | $135 | $235 | $530 |
1 | The Fund’s year-to-date return as of June 30, 2020 was 0.28%. |
One Year | Five Years | Ten Years | |||
(Inception Date: 5/1/2006) | |||||
Return Before Taxes | 32.72% | 19.16% | 18.01% | ||
Return After Taxes on Distributions2 | 32.61% | 19.00% | 17.89% | ||
Return After Taxes on Distributions and Sale of Fund Shares2 | 19.44% | 15.59% | 15.46% | ||
Dow Jones U.S. Select Medical Equipment Index (Index returns do not reflect deductions for fees, expenses, or taxes) | 33.26% | 19.68% | 18.52% |
2 | After-tax returns in the table above are calculated using the historical highest individual U.S. federal marginal income tax rates and do not reflect the impact of state or local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown, and after-tax returns shown are not relevant to tax-exempt investors or investors who hold shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts (“IRAs”). Fund returns after taxes on distributions and sales of Fund shares are calculated assuming that an investor has sufficient capital gains of the same character from other investments to offset any capital losses from the sale of Fund shares. As a result, Fund returns after taxes on distributions and sales of Fund shares may exceed Fund returns before taxes and/or returns after taxes on distributions. |
■ | General Impact. This outbreak has resulted in travel restrictions, closed international borders, enhanced health screenings at ports of entry and elsewhere, disruption of and delays in healthcare service preparation and delivery, prolonged quarantines, cancellations, supply chain disruptions, lower consumer demand, temporary closures of stores, restaurants and other commercial establishments, layoffs, defaults and other significant economic impacts, as well as general concern and uncertainty. |
■ | Market Volatility. The outbreak has also resulted in extreme volatility, severe losses, and disruptions in markets which can adversely impact the Fund and its investments, including impairing hedging activity to the extent a Fund engages in such activity, as expected correlations between related markets or instruments may no longer apply. In addition, to the extent the Fund invests in short-term instruments that have negative yields, the Fund’s value may be impaired as a result. Certain |
issuers of equity securities have cancelled or announced the suspension of dividends. The outbreak has, and may continue to, negatively affect the credit ratings of some fixed income securities and their issuers. | |
■ | Market Closures. Certain local markets have been or may be subject to closures, and there can be no assurance that trading will continue in any local markets in which the Fund may invest, when any resumption of trading will occur or, once such markets resume trading, whether they will face further closures. Any suspension of trading in markets in which the Fund invests will have an impact on the Fund and its investments and will impact the Fund’s ability to purchase or sell securities in such markets. |
■ | Operational Risk. The outbreak could also impair the information technology and other operational systems upon which the Fund’s service providers, including BFA, rely, and could otherwise disrupt the ability of employees of the Fund’s service providers to perform critical tasks relating to the Fund, for example, due to the service providers’ employees performing tasks in alternate locations than under normal operating conditions or the illness of certain employees of the Fund’s service providers. |
■ | Governmental Interventions. Governmental and quasi-governmental authorities and regulators throughout the world have responded to the outbreak and the resulting economic disruptions with a variety of fiscal and monetary policy changes, including direct capital infusions into companies and other issuers, new monetary policy tools, and lower interest rates. An unexpected or sudden reversal of these policies, or the ineffectiveness of such policies, is likely to increase market volatility, which could adversely affect the Fund’s investments. |
■ | Pre-Existing Conditions. Public health crises caused by the outbreak may exacerbate other pre-existing political, social and economic risks in certain countries or globally. |
Approximate
Value of a Creation Unit |
Creation
Unit Size |
Standard
Creation/ Redemption Transaction Fee |
Maximum
Additional
Charge for Creations* |
Maximum
Additional
Charge for Redemptions* |
||||
$12,863,500 | 50,000 | $250 | 3.0% | 2.0% |
* | As a percentage of the net asset value per Creation Unit, inclusive, in the case of redemptions, of the standard redemption transaction fee. |
iShares U.S. Medical Devices ETF | |||||||||||
Year
Ended
03/31/20 |
Year
Ended
03/31/19 |
Year
Ended
03/31/18 |
Year
Ended
03/31/17 |
Period
From
05/01/15 to 03/31/16 (a) |
Year
Ended
04/30/15 |
||||||
Net asset value, beginning of period | $ 231.44 | $ 184.88 | $ 151.42 | $ 122.48 | $ 116.87 | $ 95.07 | |||||
Net investment income(b) | 0.97 | 0.69 | 0.66 | 0.69 | 0.67 | 0.73 | |||||
Net realized and unrealized gain (loss)(c) | (6.25) | 46.38 | 33.33 | 29.06 | 6.47 | 21.79 | |||||
Net increase (decrease) from investment operations | (5.28) | 47.07 | 33.99 | 29.75 | 7.14 | 22.52 | |||||
Distributions (d) | |||||||||||
From net investment income | (0.90) | (0.51) | (0.53) | (0.81) | (1.53) | (0.72) | |||||
Total distributions | (0.90) | (0.51) | (0.53) | (0.81) | (1.53) | (0.72) | |||||
Net asset value, end of period | $ 225.26 | $ 231.44 | $ 184.88 | $ 151.42 | $ 122.48 | $ 116.87 | |||||
Total Return | |||||||||||
Based on net asset value | (2.32)% | 25.50% | 22.48% | 24.36% | 6.13% (e) | 23.75% | |||||
Ratios to Average Net Assets | |||||||||||
Total expenses | 0.42% | 0.43% | 0.43% | 0.44% | 0.44% (f) | 0.43% | |||||
Net investment income | 0.39% | 0.33% | 0.38% | 0.49% | 0.61% (f) | 0.67% | |||||
Supplemental Data | |||||||||||
Net assets, end of period (000) | $4,144,859 | $3,656,734 | $1,719,373 | $1,052,380 | $857,337 | $765,524 | |||||
Portfolio turnover rate(g) | 9% | 36% | 15% | 20% | 17% (e) | 19% | |||||
(a) The Fund's fiscal year-end changed from April 30 to March 31. |
|||||||||||
(b) Based on average shares outstanding. | |||||||||||
(c) The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share transactions in relation to the fluctuating market values of the Fund’s underlying securities. | |||||||||||
(d) Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | |||||||||||
(e) Not annualized. | |||||||||||
(f) Annualized. | |||||||||||
(g) Portfolio turnover rate excludes in-kind transactions. |
Premium/Discount Range | Number of Days | Percentage of Total Days | ||
Greater than 0.0% and Less than 0.5% | 145 | 38.46% | ||
At NAV | 58 | 15.38 | ||
Less than 0.0% and Greater than -0.5% | 174 | 46.16 | ||
377 | 100.00% |
Average Annual Total Returns | Cumulative Total Returns | ||||||
1 Year | 5 Years | 10 Years | 1 Year | 5 Years | 10 Years | ||
Fund NAV | (2.32)% | 14.01% | 15.00% | (2.32)% | 92.65% | 304.55% | |
Fund Market | (2.22) | 14.03 | 15.02 | (2.22) | 92.82 | 305.12 | |
Index | (1.93) | 14.50 | 15.49 | (1.93) | 96.81 | 322.04 |
Call: |
1-800-iShares
or 1-800-474-2737 (toll free)
Monday through Friday, 8:30 a.m. to 6:30 p.m. (Eastern time) |
Email: | iSharesETFs@blackrock.com |
Write: |
c/o
BlackRock Investments, LLC
1 University Square Drive, Princeton, NJ 08540 |
July 31, 2020 | |
2020 Prospectus |
• |
iShares U.S. Oil &
Gas Exploration & Production ETF | IEO | CBOE BZX
|
|
S-1 |
|
1 |
|
2 |
|
11 |
|
13 |
|
13 |
|
16 |
|
26 |
|
27 |
|
28 |
|
28 |
|
31 |
Ticker: IEO | Stock Exchange: Cboe BZX |
1 | The amount rounded to 0.00%. |
1 Year | 3 Years | 5 Years | 10 Years | |||
$43 | $135 | $235 | $530 |
1 | The Fund’s year-to-date return as of June 30, 2020 was -38.19%. |
One Year | Five Years | Ten Years | |||
(Inception Date: 5/1/2006) | |||||
Return Before Taxes | 9.55% | -3.53% | 1.41% | ||
Return After Taxes on Distributions1 | 9.06% | -3.85% | 1.16% | ||
Return After Taxes on Distributions and Sale of Fund Shares1 | 5.98% | -2.63% | 1.12% | ||
Dow Jones U.S. Select Oil Exploration & Production Index (Index returns do not reflect deductions for fees, expenses, or taxes) | 9.91% | -3.16% | 1.82% |
1 | After-tax returns in the table above are calculated using the historical highest individual U.S. federal marginal income tax rates and do not reflect the impact of state or local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown, and after-tax returns shown are not relevant to tax-exempt investors or investors who hold shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts (“IRAs”). Fund returns after taxes on distributions and sales of Fund shares are calculated assuming that an investor has sufficient capital gains of the same character from other investments to offset any capital losses from the sale of Fund shares. As a result, Fund returns after taxes on distributions and sales of Fund shares may exceed Fund returns before taxes and/or returns after taxes on distributions. |
■ | General Impact. This outbreak has resulted in travel restrictions, closed international borders, enhanced health screenings at ports of entry and elsewhere, disruption of and delays in healthcare service preparation and delivery, prolonged quarantines, cancellations, supply chain disruptions, lower consumer demand, temporary closures of stores, restaurants and other commercial establishments, layoffs, defaults and other significant economic impacts, as well as general concern and uncertainty. |
■ | Market Volatility. The outbreak has also resulted in extreme volatility, severe losses, and disruptions in markets which can adversely impact the Fund and its investments, including impairing hedging activity to the extent a Fund engages in such activity, as expected correlations between related markets or instruments may no longer apply. In addition, to the extent the Fund invests in short-term instruments that have negative yields, the Fund’s value may be impaired as a result. Certain issuers of equity securities have cancelled or announced the suspension of dividends. The outbreak has, and may continue to, negatively affect the credit ratings of some fixed income securities and their issuers. |
■ | Market Closures. Certain local markets have been or may be subject to closures, and there can be no assurance that trading will continue in any local markets in which the Fund may invest, when any resumption of trading will occur or, once such markets resume trading, whether they will face further closures. Any suspension of trading in markets in which the Fund invests will have an impact on the Fund and its investments and will impact the Fund’s ability to purchase or sell securities in such markets. |
■ | Operational Risk. The outbreak could also impair the information technology and other operational systems upon which the Fund’s service providers, including BFA, rely, and could otherwise disrupt the ability of employees of the Fund’s service providers to perform critical tasks relating to the Fund, for example, due to the service providers’ employees performing tasks in alternate locations than under normal operating conditions or the illness of certain employees of the Fund’s service providers. |
■ | Governmental Interventions. Governmental and quasi-governmental authorities and regulators throughout the world have responded to the outbreak and the resulting economic disruptions with a variety of fiscal and monetary policy changes, including direct capital infusions into companies and other issuers, new monetary policy tools, and lower interest rates. An unexpected or sudden reversal of these policies, |
or the ineffectiveness of such policies, is likely to increase market volatility, which could adversely affect the Fund’s investments. | |
■ | Pre-Existing Conditions. Public health crises caused by the outbreak may exacerbate other pre-existing political, social and economic risks in certain countries or globally. |
Approximate
Value of a Creation Unit |
Creation
Unit Size |
Standard
Creation/ Redemption Transaction Fee |
Maximum
Additional
Charge for Creations* |
Maximum
Additional
Charge for Redemptions* |
||||
$1,680,000 | 50,000 | $250 | 3.0% | 2.0% |
* | As a percentage of the net asset value per Creation Unit, inclusive, in the case of redemptions, of the standard redemption transaction fee. |
iShares U.S. Oil & Gas Exploration & Production ETF | |||||||||||
Year
Ended
03/31/20 |
Year
Ended
03/31/19 |
Year
Ended
03/31/18 |
Year
Ended
03/31/17 |
Period
From
05/01/15 to 03/31/16 (a) |
Year
Ended
04/30/15 |
||||||
Net asset value, beginning of period | $ 58.20 | $ 63.55 | $ 61.16 | $ 51.96 | $ 78.75 | $ 90.37 | |||||
Net investment income(b) | 0.95 | 0.67 | 0.56 | 0.55 | 0.96 | 1.00 | |||||
Net realized and unrealized gain (loss)(c) | (35.22) | (5.11) | 2.49 | 9.25 | (26.76) | (11.65) | |||||
Net increase (decrease) from investment operations | (34.27) | (4.44) | 3.05 | 9.80 | (25.80) | (10.65) | |||||
Distributions (d) | |||||||||||
From net investment income | (1.10) | (0.91) | (0.66) | (0.60) | (0.99) | (0.97) | |||||
Total distributions | (1.10) | (0.91) | (0.66) | (0.60) | (0.99) | (0.97) | |||||
Net asset value, end of period | $ 22.83 | $ 58.20 | $ 63.55 | $ 61.16 | $ 51.96 | $ 78.75 | |||||
Total Return | |||||||||||
Based on net asset value | (59.65)% | (7.06)% | 5.09% | 18.88% | (32.89)% (e) | (11.80)% | |||||
Ratios to Average Net Assets | |||||||||||
Total expenses | 0.42% | 0.42% | 0.43% | 0.44% | 0.44% (f) | 0.43% | |||||
Net investment income | 1.87% | 1.00% | 0.96% | 0.93% | 1.74% (f) | 1.21% | |||||
Supplemental Data | |||||||||||
Net assets, end of period (000) | $90,169 | $276,450 | $365,406 | $418,955 | $368,947 | $543,362 | |||||
Portfolio turnover rate(g) | 25% | 12% | 17% | 8% | 18% (e) | 7% | |||||
(a) The Fund's fiscal year-end changed from April 30 to March 31. |
|||||||||||
(b) Based on average shares outstanding. | |||||||||||
(c) The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share transactions in relation to the fluctuating market values of the Fund’s underlying securities. | |||||||||||
(d) Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | |||||||||||
(e) Not annualized. | |||||||||||
(f) Annualized. | |||||||||||
(g) Portfolio turnover rate excludes in-kind transactions. |
Premium/Discount Range | Number of Days | Percentage of Total Days | ||
Greater than 0.0% and Less than 0.5% | 128 | 33.95% | ||
At NAV | 61 | 16.18 | ||
Less than 0.0% and Greater than -0.5% | 187 | 49.60 | ||
Less than -0.5% and Greater than -1.0% | 1 | 0.27 | ||
377 | 100.00% |
Average Annual Total Returns | Cumulative Total Returns | ||||||
1 Year | 5 Years | 10 Years | 1 Year | 5 Years | 10 Years | ||
Fund NAV | (59.65)% | (19.52)% | (7.19)% | (59.65)% | (66.25)% | (52.56)% | |
Fund Market | (59.70) | (19.53) | (7.19) | (59.70) | (66.27) | (52.58) | |
Index | (59.55) | (19.22) | (6.82) | (59.55) | (65.61) | (50.68) |
Call: |
1-800-iShares
or 1-800-474-2737 (toll free)
Monday through Friday, 8:30 a.m. to 6:30 p.m. (Eastern time) |
Email: | iSharesETFs@blackrock.com |
Write: |
c/o
BlackRock Investments, LLC
1 University Square Drive, Princeton, NJ 08540 |
July 31, 2020 | |
2020 Prospectus |
• |
iShares U.S. Oil
Equipment & Services ETF | IEZ | NYSE ARCA
|
|
S-1 |
|
1 |
|
2 |
|
11 |
|
13 |
|
13 |
|
16 |
|
26 |
|
26 |
|
28 |
|
28 |
|
31 |
Ticker: IEZ | Stock Exchange: NYSE Arca |
1 | The amount rounded to 0.00%. |
1 Year | 3 Years | 5 Years | 10 Years | |||
$43 | $135 | $235 | $530 |
1 | The Fund’s year-to-date return as of June 30, 2020 was -56.66%. |
One Year | Five Years | Ten Years | |||
(Inception Date: 5/1/2006) | |||||
Return Before Taxes | 1.88% | -14.79% | -5.95% | ||
Return After Taxes on Distributions2 | 1.33% | -15.19% | -6.24% | ||
Return After Taxes on Distributions and Sale of Fund Shares2 | 1.50% | -10.18% | -4.04% | ||
Dow Jones U.S. Select Oil Equipment & Services Index (Index returns do not reflect deductions for fees, expenses, or taxes) | 2.39% | -14.61% | -5.67% |
2 | After-tax returns in the table above are calculated using the historical highest individual U.S. federal marginal income tax rates and do not reflect the impact of state or local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown, and after-tax returns shown are not relevant to tax-exempt investors or investors who hold shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts (“IRAs”). Fund returns after taxes on distributions and sales of Fund shares are calculated assuming that an investor has sufficient capital gains of the same character from other investments to offset any capital losses from the sale of Fund shares. As a result, Fund returns after taxes on distributions and sales of Fund shares may exceed Fund returns before taxes and/or returns after taxes on distributions. |
■ | General Impact. This outbreak has resulted in travel restrictions, closed international borders, enhanced health screenings at ports of entry and elsewhere, disruption of and delays in healthcare service preparation and delivery, prolonged quarantines, cancellations, supply chain disruptions, lower consumer demand, temporary |
closures of stores, restaurants and other commercial establishments, layoffs, defaults and other significant economic impacts, as well as general concern and uncertainty. | |
■ | Market Volatility. The outbreak has also resulted in extreme volatility, severe losses, and disruptions in markets which can adversely impact the Fund and its investments, including impairing hedging activity to the extent a Fund engages in such activity, as expected correlations between related markets or instruments may no longer apply. In addition, to the extent the Fund invests in short-term instruments that have negative yields, the Fund’s value may be impaired as a result. Certain issuers of equity securities have cancelled or announced the suspension of dividends. The outbreak has, and may continue to, negatively affect the credit ratings of some fixed income securities and their issuers. |
■ | Market Closures. Certain local markets have been or may be subject to closures, and there can be no assurance that trading will continue in any local markets in which the Fund may invest, when any resumption of trading will occur or, once such markets resume trading, whether they will face further closures. Any suspension of trading in markets in which the Fund invests will have an impact on the Fund and its investments and will impact the Fund’s ability to purchase or sell securities in such markets. |
■ | Operational Risk. The outbreak could also impair the information technology and other operational systems upon which the Fund’s service providers, including BFA, rely, and could otherwise disrupt the ability of employees of the Fund’s service providers to perform critical tasks relating to the Fund, for example, due to the service providers’ employees performing tasks in alternate locations than under normal operating conditions or the illness of certain employees of the Fund’s service providers. |
■ | Governmental Interventions. Governmental and quasi-governmental authorities and regulators throughout the world have responded to the outbreak and the resulting economic disruptions with a variety of fiscal and monetary policy changes, including direct capital infusions into companies and other issuers, new monetary policy tools, and lower interest rates. An unexpected or sudden reversal of these policies, or the ineffectiveness of such policies, is likely to increase market volatility, which could adversely affect the Fund’s investments. |
■ | Pre-Existing Conditions. Public health crises caused by the outbreak may exacerbate other pre-existing political, social and economic risks in certain countries or globally. |
Approximate
Value of a Creation Unit |
Creation
Unit Size |
Standard
Creation/ Redemption Transaction Fee |
Maximum
Additional
Charge for Creations* |
Maximum
Additional
Charge for Redemptions* |
||||
$391,500 | 50,000 | $250 | 3.0% | 2.0% |
* | As a percentage of the net asset value per Creation Unit, inclusive, in the case of redemptions, of the standard redemption transaction fee. |
iShares U.S. Oil Equipment & Services ETF | |||||||||||
Year
Ended
03/31/20 |
Year
Ended
03/31/19 |
Year
Ended
03/31/18 |
Year
Ended
03/31/17 |
Period
From
05/01/15 to 03/31/16 (a) |
Year
Ended
04/30/15 |
||||||
Net asset value, beginning of period | $ 25.24 | $ 32.41 | $ 42.09 | $ 35.72 | $ 54.16 | $ 70.65 | |||||
Net investment income(b) | 0.47 | 0.34 | 1.18 (c) | 0.33 | 0.71 | 0.93 | |||||
Net realized and unrealized gain (loss)(d) | (19.27) | (7.14) | (9.61) | 6.39 | (18.42) | (16.48) | |||||
Net increase (decrease) from investment operations | (18.80) | (6.80) | (8.43) | 6.72 | (17.71) | (15.55) | |||||
Distributions (e) | |||||||||||
From net investment income | (0.47) | (0.37) | (1.25) | (0.35) | (0.73) | (0.94) | |||||
Total distributions | (0.47) | (0.37) | (1.25) | (0.35) | (0.73) | (0.94) | |||||
Net asset value, end of period | $ 5.97 | $ 25.24 | $ 32.41 | $ 42.09 | $ 35.72 | $ 54.16 | |||||
Total Return | |||||||||||
Based on net asset value | (75.48)% | (21.10)% | (20.19)% (f) | 18.88% | (32.83)% (g) | (22.07)% | |||||
Ratios to Average Net Assets | |||||||||||
Total expenses | 0.42% | 0.42% | 0.43% | 0.44% | 0.44% (h) | 0.43% | |||||
Net investment income | 2.44% | 1.09% | 3.37% (c) | 0.81% | 1.91% (h) | 1.52% | |||||
Supplemental Data | |||||||||||
Net assets, end of period (000) | $25,669 | $155,238 | $204,188 | $250,434 | $233,938 | $389,980 | |||||
Portfolio turnover rate(i) | 23% | 35% | 25% | 27% | 18% (g) | 14% | |||||
(a) The Fund's fiscal year-end changed from April 30 to March 31. |
|||||||||||
(b) Based on average shares outstanding. | |||||||||||
(c) Includes a one-time special distribution from Baker Hughes Inc. Excluding such special distribution, the net investment income would have been $0.37 per share and 1.05% of average net assets. | |||||||||||
(d) The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share transactions in relation to the fluctuating market values of the Fund’s underlying securities. | |||||||||||
(e) Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | |||||||||||
(f) Includes proceeds received from a class action litigation, which impacted the Fund’s total return. Not including these proceeds, the Fund’s total return would have been (20.37)% for the year ended March 31, 2018. | |||||||||||
(g) Not annualized. | |||||||||||
(h) Annualized. | |||||||||||
(i) Portfolio turnover rate excludes in-kind transactions. |
Premium/Discount Range | Number of Days | Percentage of Total Days | ||
Greater than 0.0% and Less than 0.5% | 65 | 17.24% | ||
At NAV | 24 | 6.37 | ||
Less than 0.0% and Greater than -0.5% | 288 | 76.39 | ||
377 | 100.00% |
Average Annual Total Returns | Cumulative Total Returns | ||||||
1 Year | 5 Years | 10 Years | 1 Year | 5 Years | 10 Years | ||
Fund NAV | (75.48)% | (32.31)% | (16.84)% | (75.48)% | (85.79)% | (84.18)% | |
Fund Market | (75.52) | (32.33) | (16.85) | (75.52) | (85.81) | (84.20) | |
Index | (75.46) | (32.20) | (16.62) | (75.46) | (85.68) | (83.76) |
Call: |
1-800-iShares
or 1-800-474-2737 (toll free)
Monday through Friday, 8:30 a.m. to 6:30 p.m. (Eastern time) |
Email: | iSharesETFs@blackrock.com |
Write: |
c/o
BlackRock Investments, LLC
1 University Square Drive, Princeton, NJ 08540 |
July 31, 2020 | |
2020 Prospectus |
• |
iShares U.S.
Pharmaceuticals ETF | IHE | NYSE ARCA
|
|
S-1 |
|
1 |
|
2 |
|
10 |
|
12 |
|
12 |
|
16 |
|
25 |
|
26 |
|
27 |
|
27 |
|
30 |
Ticker: IHE | Stock Exchange: NYSE Arca |
1 | The amount rounded to 0.00%. |
1 Year | 3 Years | 5 Years | 10 Years | |||
$43 | $135 | $235 | $530 |
1 | The Fund’s year-to-date return as of June 30, 2020 was -3.29%. |
One Year | Five Years | Ten Years | |||
(Inception Date: 5/1/2006) | |||||
Return Before Taxes | 15.49% | 2.54% | 12.33% | ||
Return After Taxes on Distributions2 | 15.08% | 2.21% | 12.00% | ||
Return After Taxes on Distributions and Sale of Fund Shares2 | 9.42% | 1.94% | 10.29% | ||
Dow Jones U.S. Select Pharmaceuticals Index (Index returns do not reflect deductions for fees, expenses, or taxes) | 15.86% | 2.85% | 12.70% |
2 | After-tax returns in the table above are calculated using the historical highest individual U.S. federal marginal income tax rates and do not reflect the impact of state or local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown, and after-tax returns shown are not relevant to tax-exempt investors or investors who hold shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts (“IRAs”). Fund returns after taxes on distributions and sales of Fund shares are calculated assuming that an investor has sufficient capital gains of the same character from other investments to offset any capital losses from the sale of Fund shares. As a result, Fund returns after taxes on distributions and sales of Fund shares may exceed Fund returns before taxes and/or returns after taxes on distributions. |
■ | General Impact. This outbreak has resulted in travel restrictions, closed international borders, enhanced health screenings at ports of entry and elsewhere, disruption of and delays in healthcare service preparation and delivery, prolonged quarantines, cancellations, supply chain disruptions, lower consumer demand, temporary closures of stores, restaurants and other commercial establishments, layoffs, defaults and other significant economic impacts, as well as general concern and uncertainty. |
■ | Market Volatility. The outbreak has also resulted in extreme volatility, severe losses, and disruptions in markets which can adversely impact the Fund and its investments, including impairing hedging activity to the extent a Fund engages in such activity, as expected correlations between related markets or instruments may no longer apply. In addition, to the extent the Fund invests in short-term instruments that have negative yields, the Fund’s value may be impaired as a result. Certain |
issuers of equity securities have cancelled or announced the suspension of dividends. The outbreak has, and may continue to, negatively affect the credit ratings of some fixed income securities and their issuers. | |
■ | Market Closures. Certain local markets have been or may be subject to closures, and there can be no assurance that trading will continue in any local markets in which the Fund may invest, when any resumption of trading will occur or, once such markets resume trading, whether they will face further closures. Any suspension of trading in markets in which the Fund invests will have an impact on the Fund and its investments and will impact the Fund’s ability to purchase or sell securities in such markets. |
■ | Operational Risk. The outbreak could also impair the information technology and other operational systems upon which the Fund’s service providers, including BFA, rely, and could otherwise disrupt the ability of employees of the Fund’s service providers to perform critical tasks relating to the Fund, for example, due to the service providers’ employees performing tasks in alternate locations than under normal operating conditions or the illness of certain employees of the Fund’s service providers. |
■ | Governmental Interventions. Governmental and quasi-governmental authorities and regulators throughout the world have responded to the outbreak and the resulting economic disruptions with a variety of fiscal and monetary policy changes, including direct capital infusions into companies and other issuers, new monetary policy tools, and lower interest rates. An unexpected or sudden reversal of these policies, or the ineffectiveness of such policies, is likely to increase market volatility, which could adversely affect the Fund’s investments. |
■ | Pre-Existing Conditions. Public health crises caused by the outbreak may exacerbate other pre-existing political, social and economic risks in certain countries or globally. |
Approximate
Value of a Creation Unit |
Creation
Unit Size |
Standard
Creation/ Redemption Transaction Fee |
Maximum
Additional
Charge for Creations* |
Maximum
Additional
Charge for Redemptions* |
||||
$7,618,500 | 50,000 | $250 | 3.0% | 2.0% |
* | As a percentage of the net asset value per Creation Unit, inclusive, in the case of redemptions, of the standard redemption transaction fee. |
iShares U.S. Pharmaceuticals ETF | |||||||||||
Year
Ended
03/31/20 |
Year
Ended
03/31/19 |
Year
Ended
03/31/18 |
Year
Ended
03/31/17 |
Period
From
05/01/15 to 03/31/16 (a) |
Year
Ended
04/30/15 |
||||||
Net asset value, beginning of period | $ 154.05 | $ 147.20 | $ 150.97 | $ 137.03 | $ 168.05 | $ 129.31 | |||||
Net investment income(b) | 2.14 | 1.73 | 2.25 | 1.28 | 1.54 | 1.53 | |||||
Net realized and unrealized gain (loss)(c) | (19.09) | 6.91 | (3.75) | 14.01 | (29.40) | 39.00 | |||||
Net increase (decrease) from investment operations | (16.95) | 8.64 | (1.50) | 15.29 | (27.86) | 40.53 | |||||
Distributions (d) | |||||||||||
From net investment income | (2.27) | (1.79) | (2.27) | (1.35) | (1.52) | (1.61) | |||||
From net realized gain | — | — | — | — | (1.64) | (0.18) | |||||
Total distributions | (2.27) | (1.79) | (2.27) | (1.35) | (3.16) | (1.79) | |||||
Net asset value, end of period | $ 134.83 | $ 154.05 | $ 147.20 | $ 150.97 | $ 137.03 | $ 168.05 | |||||
Total Return | |||||||||||
Based on net asset value | (11.06)% | 5.88% | (1.05)% | 11.19% | (16.84)% (e) | 31.58% | |||||
Ratios to Average Net Assets | |||||||||||
Total expenses | 0.42% | 0.42% | 0.43% | 0.44% | 0.44% (f) | 0.43% | |||||
Net investment income | 1.45% | 1.12% | 1.47% | 0.87% | 1.03% (f) | 1.03% | |||||
Supplemental Data | |||||||||||
Net assets, end of period (000) | $276,404 | $385,114 | $390,088 | $717,098 | $637,189 | $1,167,951 | |||||
Portfolio turnover rate(g) | 40% | 51% | 23% | 33% | 31% (e) | 37% | |||||
(a) The Fund's fiscal year-end changed from April 30 to March 31. |
|||||||||||
(b) Based on average shares outstanding. | |||||||||||
(c) The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share transactions in relation to the fluctuating market values of the Fund’s underlying securities. | |||||||||||
(d) Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | |||||||||||
(e) Not annualized. | |||||||||||
(f) Annualized. | |||||||||||
(g) Portfolio turnover rate excludes in-kind transactions. |
Premium/Discount Range | Number of Days | Percentage of Total Days | ||
Greater than 0.0% and Less than 0.5% | 78 | 20.69% | ||
At NAV | 32 | 8.49 | ||
Less than 0.0% and Greater than -0.5% | 267 | 70.82 | ||
377 | 100.00% |
Average Annual Total Returns | Cumulative Total Returns | ||||||
1 Year | 5 Years | 10 Years | 1 Year | 5 Years | 10 Years | ||
Fund NAV | (11.06)% | (3.41)% | 10.04% | (11.06)% | (15.94)% | 160.30% | |
Fund Market | (10.97) | (3.42) | 10.04 | (10.97) | (15.96) | 160.40 | |
Index | (10.75) | (3.14) | 10.40 | (10.75) | (14.74) | 168.94 |
Call: |
1-800-iShares
or 1-800-474-2737 (toll free)
Monday through Friday, 8:30 a.m. to 6:30 p.m. (Eastern time) |
Email: | iSharesETFs@blackrock.com |
Write: |
c/o
BlackRock Investments, LLC
1 University Square Drive, Princeton, NJ 08540 |
July 31, 2020 | |
2020 Prospectus |
• |
iShares U.S. Real Estate
ETF | IYR | NYSE ARCA
|
|
S-1 |
|
1 |
|
2 |
|
13 |
|
15 |
|
16 |
|
19 |
|
29 |
|
30 |
|
31 |
|
31 |
|
34 |
Ticker: IYR | Stock Exchange: NYSE Arca |
1 | The amount rounded to 0.00%. |
1 Year | 3 Years | 5 Years | 10 Years | |||
$43 | $135 | $235 | $530 |
1 | The Fund’s year-to-date return as of June 30, 2020 was -14.01%. |
One Year | Five Years | Ten Years | |||
(Inception Date: 6/12/2000) | |||||
Return Before Taxes | 28.39% | 7.88% | 11.44% | ||
Return After Taxes on Distributions1 | 26.96% | 6.30% | 9.85% | ||
Return After Taxes on Distributions and Sale of Fund Shares1 | 16.96% | 5.41% | 8.60% | ||
Dow Jones U.S. Real Estate Index (Index returns do not reflect deductions for fees, expenses, or taxes) | 28.92% | 8.35% | 11.96% |
1 | After-tax returns in the table above are calculated using the historical highest individual U.S. federal marginal income tax rates and do not reflect the impact of state or local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown, and after-tax returns shown are not relevant to tax-exempt investors or investors who hold shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts (“IRAs”). Fund returns after taxes on distributions and sales of Fund shares are calculated assuming that an investor has sufficient capital gains of the same character from other investments to offset any capital losses from the sale of Fund shares. As a result, Fund returns after taxes on distributions and sales of Fund shares may exceed Fund returns before taxes and/or returns after taxes on distributions. |
■ | General Impact. This outbreak has resulted in travel restrictions, closed international borders, enhanced health screenings at ports of entry and elsewhere, disruption of and delays in healthcare service preparation and delivery, prolonged quarantines, cancellations, supply chain disruptions, lower consumer demand, temporary |
closures of stores, restaurants and other commercial establishments, layoffs, defaults and other significant economic impacts, as well as general concern and uncertainty. | |
■ | Market Volatility. The outbreak has also resulted in extreme volatility, severe losses, and disruptions in markets which can adversely impact the Fund and its investments, including impairing hedging activity to the extent a Fund engages in such activity, as expected correlations between related markets or instruments may no longer apply. In addition, to the extent the Fund invests in short-term instruments that have negative yields, the Fund’s value may be impaired as a result. Certain issuers of equity securities have cancelled or announced the suspension of dividends. The outbreak has, and may continue to, negatively affect the credit ratings of some fixed income securities and their issuers. |
■ | Market Closures. Certain local markets have been or may be subject to closures, and there can be no assurance that trading will continue in any local markets in which the Fund may invest, when any resumption of trading will occur or, once such markets resume trading, whether they will face further closures. Any suspension of trading in markets in which the Fund invests will have an impact on the Fund and its investments and will impact the Fund’s ability to purchase or sell securities in such markets. |
■ | Operational Risk. The outbreak could also impair the information technology and other operational systems upon which the Fund’s service providers, including BFA, rely, and could otherwise disrupt the ability of employees of the Fund’s service providers to perform critical tasks relating to the Fund, for example, due to the service providers’ employees performing tasks in alternate locations than under normal operating conditions or the illness of certain employees of the Fund’s service providers. |
■ | Governmental Interventions. Governmental and quasi-governmental authorities and regulators throughout the world have responded to the outbreak and the resulting economic disruptions with a variety of fiscal and monetary policy changes, including direct capital infusions into companies and other issuers, new monetary policy tools, and lower interest rates. An unexpected or sudden reversal of these policies, or the ineffectiveness of such policies, is likely to increase market volatility, which could adversely affect the Fund’s investments. |
■ | Pre-Existing Conditions. Public health crises caused by the outbreak may exacerbate other pre-existing political, social and economic risks in certain countries or globally. |
Approximate
Value of a Creation Unit |
Creation
Unit Size |
Standard
Creation/ Redemption Transaction Fee |
Maximum
Additional
Charge for Creations* |
Maximum
Additional
Charge for Redemptions* |
||||
$3,803,000 | 50,000 | $250 | 3.0% | 2.0% |
* | As a percentage of the net asset value per Creation Unit, inclusive, in the case of redemptions, of the standard redemption transaction fee. |
iShares U.S. Real Estate ETF | |||||||||||
Year
Ended
03/31/20 |
Year
Ended
03/31/19 |
Year
Ended
03/31/18 |
Year
Ended
03/31/17 |
Period
From
05/01/15 to 03/31/16 (a) |
Year
Ended
04/30/15 |
||||||
Net asset value, beginning of period | $ 86.99 | $ 75.48 | $ 78.51 | $ 77.88 | $ 75.44 | $ 69.75 | |||||
Net investment income(b) | 2.16 | 2.28 | 2.22 | 2.19 | 1.84 | 1.92 | |||||
Net realized and unrealized gain (loss)(c) | (16.61) | 11.86 | (2.36) | 1.67 | 3.79 | 6.47 | |||||
Net increase (decrease) from investment operations | (14.45) | 14.14 | (0.14) | 3.86 | 5.63 | 8.39 | |||||
Distributions (d) | |||||||||||
From net investment income | (2.83) | (2.63) | (2.89) | (3.23) | (2.60) | (2.55) | |||||
From net realized gain | — | — | — | — | (0.59) | (0.15) | |||||
Total distributions | (2.83) | (2.63) | (2.89) | (3.23) | (3.19) | (2.70) | |||||
Net asset value, end of period | $ 69.71 | $ 86.99 | $ 75.48 | $ 78.51 | $ 77.88 | $ 75.44 | |||||
Total Return | |||||||||||
Based on net asset value | (17.14)% | 19.09% | (0.29)% | 5.03% | 7.77% (e) | 12.14% | |||||
Ratios to Average Net Assets | |||||||||||
Total expenses | 0.42% | 0.42% | 0.43% | 0.44% | 0.44% (f) | 0.43% | |||||
Net investment income | 2.39% | 2.85% | 2.80% | 2.77% | 2.72% (f) | 2.55% | |||||
Supplemental Data | |||||||||||
Net assets, end of period (000) | $3,067,098 | $4,597,605 | $3,596,742 | $4,608,522 | $4,466,380 | $4,937,495 | |||||
Portfolio turnover rate(g) | 8% | 11% | 13% | 18% | 13% (e) | 21% | |||||
(a) The Fund's fiscal year-end changed from April 30 to March 31. |
|||||||||||
(b) Based on average shares outstanding. | |||||||||||
(c) The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share transactions in relation to the fluctuating market values of the Fund’s underlying securities. | |||||||||||
(d) Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | |||||||||||
(e) Not annualized. | |||||||||||
(f) Annualized. | |||||||||||
(g) Portfolio turnover rate excludes in-kind transactions. |
Premium/Discount Range | Number of Days | Percentage of Total Days | ||
Greater than 0.0% and Less than 0.5% | 121 | 32.10% | ||
At NAV | 59 | 15.65 | ||
Less than 0.0% and Greater than -0.5% | 196 | 51.98 | ||
Less than -0.5% and Greater than -1.0% | 1 | 0.27 | ||
377 | 100.00% |
Average Annual Total Returns | Cumulative Total Returns | ||||||
1 Year | 5 Years | 10 Years | 1 Year | 5 Years | 10 Years | ||
Fund NAV | (17.14)% | 1.17% | 7.39% | (17.14)% | 5.96% | 103.92% | |
Fund Market | (17.27) | 1.14 | 7.37 | (17.27) | 5.81 | 103.64 | |
Index | (16.74) | 1.60 | 7.89 | (16.74) | 8.26 | 113.74 |
Call: |
1-800-iShares
or 1-800-474-2737 (toll free)
Monday through Friday, 8:30 a.m. to 6:30 p.m. (Eastern time) |
Email: | iSharesETFs@blackrock.com |
Write: |
c/o
BlackRock Investments, LLC
1 University Square Drive, Princeton, NJ 08540 |
July 31, 2020 | |
2020 Prospectus |
• |
iShares U.S. Regional
Banks ETF | IAT | NYSE ARCA
|
|
S-1 |
|
1 |
|
2 |
|
11 |
|
12 |
|
13 |
|
16 |
|
25 |
|
26 |
|
27 |
|
27 |
|
30 |
Ticker: IAT | Stock Exchange: NYSE Arca |
1 | The amount rounded to 0.00%. |
1 Year | 3 Years | 5 Years | 10 Years | |||
$43 | $135 | $235 | $530 |
1 | The Fund’s year-to-date return as of June 30, 2020 was -32.48%. |
One Year | Five Years | Ten Years | |||
(Inception Date: 5/1/2006) | |||||
Return Before Taxes | 31.41% | 10.04% | 11.45% | ||
Return After Taxes on Distributions1 | 30.58% | 9.52% | 11.01% | ||
Return After Taxes on Distributions and Sale of Fund Shares1 | 19.10% | 7.88% | 9.45% | ||
Dow Jones U.S. Select Regional Banks Index (Index returns do not reflect deductions for fees, expenses, or taxes) | 31.93% | 10.52% | 11.95% |
1 | After-tax returns in the table above are calculated using the historical highest individual U.S. federal marginal income tax rates and do not reflect the impact of state or local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown, and after-tax returns shown are not relevant to tax-exempt investors or investors who hold shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts (“IRAs”). Fund returns after taxes on distributions and sales of Fund shares are calculated assuming that an investor has sufficient capital gains of the same character from other investments to offset any capital losses from the sale of Fund shares. As a result, Fund returns after taxes on distributions and sales of Fund shares may exceed Fund returns before taxes and/or returns after taxes on distributions. |
■ | General Impact. This outbreak has resulted in travel restrictions, closed international borders, enhanced health screenings at ports of entry and elsewhere, disruption of and delays in healthcare service preparation and delivery, prolonged quarantines, cancellations, supply chain disruptions, lower consumer demand, temporary closures of stores, restaurants and other commercial establishments, layoffs, defaults and other significant economic impacts, as well as general concern and uncertainty. |
■ | Market Volatility. The outbreak has also resulted in extreme volatility, severe losses, and disruptions in markets which can adversely impact the Fund and its investments, including impairing hedging activity to the extent a Fund engages in such activity, as expected correlations between related markets or instruments may no longer apply. In addition, to the extent the Fund invests in short-term instruments that have negative yields, the Fund’s value may be impaired as a result. Certain issuers of equity securities have cancelled or announced the suspension of dividends. The outbreak has, and may continue to, negatively affect the credit ratings of some fixed income securities and their issuers. |
■ | Market Closures. Certain local markets have been or may be subject to closures, and there can be no assurance that trading will continue in any local markets in which the Fund may invest, when any resumption of trading will occur or, once such markets resume trading, whether they will face further closures. Any suspension of trading in markets in which the Fund invests will have an impact on the Fund and its investments and will impact the Fund’s ability to purchase or sell securities in such markets. |
■ | Operational Risk. The outbreak could also impair the information technology and other operational systems upon which the Fund’s service providers, including BFA, rely, and could otherwise disrupt the ability of employees of the Fund’s service providers to perform critical tasks relating to the Fund, for example, due to the service providers’ employees performing tasks in alternate locations than under normal operating conditions or the illness of certain employees of the Fund’s service providers. |
■ | Governmental Interventions. Governmental and quasi-governmental authorities and regulators throughout the world have responded to the outbreak and the resulting economic disruptions with a variety of fiscal and monetary policy changes, including direct capital infusions into companies and other issuers, new monetary policy tools, and lower interest rates. An unexpected or sudden reversal of these policies, or the ineffectiveness of such policies, is likely to increase market volatility, which could adversely affect the Fund’s investments. |
■ | Pre-Existing Conditions. Public health crises caused by the outbreak may exacerbate other pre-existing political, social and economic risks in certain countries or globally. |
Approximate
Value of a Creation Unit |
Creation
Unit Size |
Standard
Creation/ Redemption Transaction Fee |
Maximum
Additional
Charge for Creations* |
Maximum
Additional
Charge for Redemptions* |
||||
$1,682,500 | 50,000 | $250 | 3.0% | 2.0% |
* | As a percentage of the net asset value per Creation Unit, inclusive, in the case of redemptions, of the standard redemption transaction fee. |
iShares U.S. Regional Banks ETF | |||||||||||
Year
Ended
03/31/20 |
Year
Ended
03/31/19 |
Year
Ended
03/31/18 |
Year
Ended
03/31/17 |
Period
From
05/01/15 to 03/31/16 (a) |
Year
Ended
04/30/15 |
||||||
Net asset value, beginning of period | $ 43.44 | $ 50.39 | $ 44.79 | $ 31.79 | $ 34.87 | $ 33.02 | |||||
Net investment income(b) | 1.20 | 1.01 | 0.80 | 0.71 | 0.63 | 0.61 | |||||
Net realized and unrealized gain (loss)(c) | (14.32) | (6.91) | 5.60 | 12.95 | (3.04) | 1.84 | |||||
Net increase (decrease) from investment operations | (13.12) | (5.90) | 6.40 | 13.66 | (2.41) | 2.45 | |||||
Distributions (d) | |||||||||||
From net investment income | (1.32) | (1.05) | (0.80) | (0.66) | (0.67) | (0.60) | |||||
Total distributions | (1.32) | (1.05) | (0.80) | (0.66) | (0.67) | (0.60) | |||||
Net asset value, end of period | $ 29.00 | $ 43.44 | $ 50.39 | $ 44.79 | $ 31.79 | $ 34.87 | |||||
Total Return | |||||||||||
Based on net asset value | (31.09)% | (11.79)% | 14.42% | 43.37% | (7.08)% (e) | 7.44% | |||||
Ratios to Average Net Assets | |||||||||||
Total expenses | 0.42% | 0.42% | 0.43% | 0.44% | 0.44% (f) | 0.43% | |||||
Net investment income | 2.60% | 2.08% | 1.68% | 1.79% | 1.99% (f) | 1.80% | |||||
Supplemental Data | |||||||||||
Net assets, end of period (000) | $197,182 | $519,088 | $902,061 | $747,957 | $410,119 | $543,990 | |||||
Portfolio turnover rate(g) | 5% | 10% | 4% | 6% | 11% (e) | 5% | |||||
(a) The Fund's fiscal year-end changed from April 30 to March 31. |
|||||||||||
(b) Based on average shares outstanding. | |||||||||||
(c) The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share transactions in relation to the fluctuating market values of the Fund’s underlying securities. | |||||||||||
(d) Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | |||||||||||
(e) Not annualized. | |||||||||||
(f) Annualized. | |||||||||||
(g) Portfolio turnover rate excludes in-kind transactions. |
Premium/Discount Range | Number of Days | Percentage of Total Days | ||
Greater than 0.0% and Less than 0.5% | 61 | 16.18% | ||
At NAV | 50 | 13.26 | ||
Less than 0.0% and Greater than -0.5% | 266 | 70.56 | ||
377 | 100.00% |
Average Annual Total Returns | Cumulative Total Returns | ||||||
1 Year | 5 Years | 10 Years | 1 Year | 5 Years | 10 Years | ||
Fund NAV | (31.09)% | (1.52)% | 3.65% | (31.09)% | (7.37)% | 43.13% | |
Fund Market | (31.10) | (1.53) | 3.65 | (31.10) | (7.40) | 43.14 | |
Index | (30.87) | (1.11) | 4.10 | (30.87) | (5.44) | 49.50 |
Call: |
1-800-iShares
or 1-800-474-2737 (toll free)
Monday through Friday, 8:30 a.m. to 6:30 p.m. (Eastern time) |
Email: | iSharesETFs@blackrock.com |
Write: |
c/o
BlackRock Investments, LLC
1 University Square Drive, Princeton, NJ 08540 |
July 31, 2020 | |
2020 Prospectus |
• |
iShares U.S.
Telecommunications ETF | IYZ | CBOE BZX
|
|
S-1 |
|
1 |
|
2 |
|
11 |
|
13 |
|
13 |
|
17 |
|
26 |
|
27 |
|
28 |
|
28 |
|
31 |
Ticker: IYZ | Stock Exchange: Cboe BZX |
1 | The amount rounded to 0.00%. |
1 Year | 3 Years | 5 Years | 10 Years | |||
$43 | $135 | $235 | $530 |
1 | The Fund’s year-to-date return as of June 30, 2020 was -6.38%. |
One Year | Five Years | Ten Years | |||
(Inception Date: 5/22/2000) | |||||
Return Before Taxes | 16.26% | 2.90% | 6.86% | ||
Return After Taxes on Distributions2 | 15.60% | 2.22% | 6.24% | ||
Return After Taxes on Distributions and Sale of Fund Shares2 | 10.07% | 2.13% | 5.48% | ||
Dow Jones U.S. Select Telecommunications Index (Index returns do not reflect deductions for fees, expenses, or taxes) | 16.74% | 3.02% | 7.10% |
2 | After-tax returns in the table above are calculated using the historical highest individual U.S. federal marginal income tax rates and do not reflect the impact of state or local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown, and after-tax returns shown are not relevant to tax-exempt investors or investors who hold shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts (“IRAs”). Fund returns after taxes on distributions and sales of Fund shares are calculated assuming that an investor has sufficient capital gains of the same character from other investments to offset any capital losses from the sale of Fund shares. As a result, Fund returns after taxes on distributions and sales of Fund shares may exceed Fund returns before taxes and/or returns after taxes on distributions. |
■ | General Impact. This outbreak has resulted in travel restrictions, closed international borders, enhanced health screenings at ports of entry and elsewhere, disruption of and delays in healthcare service preparation and delivery, prolonged quarantines, cancellations, supply chain disruptions, lower consumer demand, temporary closures of stores, restaurants and other commercial establishments, layoffs, defaults and other significant economic impacts, as well as general concern and uncertainty. |
■ | Market Volatility. The outbreak has also resulted in extreme volatility, severe losses, and disruptions in markets which can adversely impact the Fund and its investments, including impairing hedging activity to the extent a Fund engages in such activity, as expected correlations between related markets or instruments may no longer apply. In addition, to the extent the Fund invests in short-term instruments that have negative yields, the Fund’s value may be impaired as a result. Certain issuers of equity securities have cancelled or announced the suspension of dividends. The outbreak has, and may continue to, negatively affect the credit ratings of some fixed income securities and their issuers. |
■ | Market Closures. Certain local markets have been or may be subject to closures, and there can be no assurance that trading will continue in any local markets in which the Fund may invest, when any resumption of trading will occur or, once such markets resume trading, whether they will face further closures. Any suspension of trading in markets in which the Fund invests will have an impact on the Fund and its investments and will impact the Fund’s ability to purchase or sell securities in such markets. |
■ | Operational Risk. The outbreak could also impair the information technology and other operational systems upon which the Fund’s service providers, including BFA, rely, and could otherwise disrupt the ability of employees of the Fund’s service |
providers to perform critical tasks relating to the Fund, for example, due to the service providers’ employees performing tasks in alternate locations than under normal operating conditions or the illness of certain employees of the Fund’s service providers. | |
■ | Governmental Interventions. Governmental and quasi-governmental authorities and regulators throughout the world have responded to the outbreak and the resulting economic disruptions with a variety of fiscal and monetary policy changes, including direct capital infusions into companies and other issuers, new monetary policy tools, and lower interest rates. An unexpected or sudden reversal of these policies, or the ineffectiveness of such policies, is likely to increase market volatility, which could adversely affect the Fund’s investments. |
■ | Pre-Existing Conditions. Public health crises caused by the outbreak may exacerbate other pre-existing political, social and economic risks in certain countries or globally. |
Approximate
Value of a Creation Unit |
Creation
Unit Size |
Standard
Creation/ Redemption Transaction Fee |
Maximum
Additional
Charge for Creations* |
Maximum
Additional
Charge for Redemptions* |
||||
$1,361,000 | 50,000 | $250 | 3.0% | 2.0% |
* | As a percentage of the net asset value per Creation Unit, inclusive, in the case of redemptions, of the standard redemption transaction fee. |
iShares U.S. Telecommunications ETF | |||||||||||
Year
Ended
03/31/20 |
Year
Ended
03/31/19 |
Year
Ended
03/31/18 |
Year
Ended
03/31/17 |
Period
From
05/01/15 to 03/31/16 (a) |
Year
Ended
04/30/15 |
||||||
Net asset value, beginning of period | $ 29.73 | $ 27.06 | $ 32.38 | $ 30.71 | $ 30.75 | $ 29.34 | |||||
Net investment income(b) | 0.71 | 0.49 | 0.74 | 0.66 | 0.44 | 0.64 | |||||
Net realized and unrealized gain (loss)(c) | (4.80) | 2.71 | (5.08) | 1.87 | 0.12 | 1.43 | |||||
Net increase (decrease) from investment operations | (4.09) | 3.20 | (4.34) | 2.53 | 0.56 | 2.07 | |||||
Distributions (d) | |||||||||||
From net investment income | (0.76) | (0.53) | (0.98) | (0.86) | (0.60) | (0.66) | |||||
Total distributions | (0.76) | (0.53) | (0.98) | (0.86) | (0.60) | (0.66) | |||||
Net asset value, end of period | $ 24.88 | $ 29.73 | $ 27.06 | $ 32.38 | $ 30.71 | $ 30.75 | |||||
Total Return | |||||||||||
Based on net asset value | (13.99)% | 11.91% | (13.63)% | 8.25% | 1.93% (e) | 7.15% | |||||
Ratios to Average Net Assets | |||||||||||
Total expenses | 0.42% | 0.42% | 0.43% | 0.44% | 0.44% (f) | 0.43% | |||||
Net investment income | 2.40% | 1.73% | 2.41% | 2.02% | 1.67% (f) | 2.14% | |||||
Supplemental Data | |||||||||||
Net assets, end of period (000) | $292,379 | $463,756 | $316,596 | $519,768 | $560,382 | $713,380 | |||||
Portfolio turnover rate(g) | 41% | 35% | 86% | 47% | 24% (e) | 49% | |||||
(a) The Fund's fiscal year-end changed from April 30 to March 31. |
|||||||||||
(b) Based on average shares outstanding. | |||||||||||
(c) The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share transactions in relation to the fluctuating market values of the Fund’s underlying securities. | |||||||||||
(d) Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | |||||||||||
(e) Not annualized. | |||||||||||
(f) Annualized. | |||||||||||
(g) Portfolio turnover rate excludes in-kind transactions. |
Premium/Discount Range | Number of Days | Percentage of Total Days | ||
Greater than 0.0% and Less than 0.5% | 203 | 53.85% | ||
At NAV | 55 | 14.59 | ||
Less than 0.0% and Greater than -0.5% | 119 | 31.56 | ||
377 | 100.00% |
Average Annual Total Returns | Cumulative Total Returns | ||||||
1 Year | 5 Years | 10 Years | 1 Year | 5 Years | 10 Years | ||
Fund NAV | (13.99)% | (1.38)% | 4.93% | (13.99)% | (6.69)% | 61.74% | |
Fund Market | (13.95) | (1.37) | 4.92 | (13.95) | (6.66) | 61.70 | |
Index | (13.67) | (1.27) | 5.16 | (13.67) | (6.18) | 65.40 |
Call: |
1-800-iShares
or 1-800-474-2737 (toll free)
Monday through Friday, 8:30 a.m. to 6:30 p.m. (Eastern time) |
Email: | iSharesETFs@blackrock.com |
Write: |
c/o
BlackRock Investments, LLC
1 University Square Drive, Princeton, NJ 08540 |
Fund | Ticker | Listing Exchange | ||
iShares Currency Hedged JPX-Nikkei 400 ETF (the “Fund”) | HJPX | NYSE Arca |
1. | Concentrate its investments in a particular industry, as that term is used in the Investment Company Act, except that the Fund will concentrate to approximately the same extent that its Underlying Index concentrates in the securities of a particular industry or group of industries. |
2. | Borrow money, except as permitted under the Investment Company Act. |
3. | Issue senior securities to the extent such issuance would violate the Investment Company Act. |
4. | Purchase or hold real estate, except the Fund may purchase and hold securities or other instruments that are secured by, or linked to, real estate or interests therein, securities of REITs, mortgage-related securities and securities of issuers engaged in the real estate business, and the Fund may purchase and hold real estate as a result of the ownership of securities or other instruments. |
5. | Underwrite securities issued by others, except to the extent that the sale of portfolio securities by the Fund may be deemed to be an underwriting or as otherwise permitted by applicable law. |
6. | Purchase or sell commodities or commodity contracts, except as permitted by the Investment Company Act. |
7. | Make loans to the extent prohibited by the Investment Company Act. |
Name (Age) | Position |
Principal
Occupation(s)
During the Past 5 Years |
Other
Directorships
Held by Trustee |
|||
Robert
S. Kapito1
(63) |
Trustee
(since 2009). |
President, BlackRock, Inc. (since 2006); Vice Chairman of BlackRock, Inc. and Head of BlackRock’s Portfolio Management Group (since its formation in 1998) and BlackRock, Inc.’s predecessor entities (since 1988); Trustee, University of Pennsylvania (since 2009); President of Board of Directors, Hope & Heroes Children’s Cancer Fund (since 2002). | Director of BlackRock, Inc. (since 2006); Director of iShares, Inc. (since 2009); Trustee of iShares U.S. ETF Trust (since 2011). |
Name (Age) | Position |
Principal
Occupation(s)
During the Past 5 Years |
Other
Directorships
Held by Trustee |
|||
Salim
Ramji2
(50) |
Trustee (since 2019). | Senior Managing Director, BlackRock, Inc. (since 2014); Global Head of BlackRock’s ETF and Index Investments Business (since 2019); Head of BlackRock’s U.S. Wealth Advisory Business (2015-2019); Global Head of Corporate Strategy, BlackRock, Inc. (2014-2015); Senior Partner, McKinsey & Company (2010-2014). | Director of iShares, Inc. (since 2019); Trustee of iShares U.S. ETF Trust (since 2019). |
1 | Robert S. Kapito is deemed to be an “interested person” (as defined in the 1940 Act) of the Trust due to his affiliations with BlackRock, Inc. and its affiliates. |
2 | Salim Ramji is deemed to be an “interested person” (as defined in the 1940 Act) of the Trust due to his affiliations with BlackRock, Inc. and its affiliates. |
Name (Age) | Position |
Principal
Occupation(s)
During the Past 5 Years |
Other
Directorships
Held by Trustee |
|||
Cecilia
H. Herbert
(71) |
Trustee
(since 2005); Independent Board Chair (since 2016). |
Chair
of the Finance Committee (since 2019) and Trustee and Member of the Finance, Audit and Quality Committees of Stanford Health Care (since 2016); Trustee of WNET, New York's public media company (since 2011) and Member of the Audit Committee (since
2018) and Investment Committee (since 2011); Chair (1994-2005) and Member (since 1992) of the Investment Committee, Archdiocese of San Francisco; Trustee of Forward Funds (14 portfolios) (2009-2018); Trustee of Salient MF Trust (4 portfolios)
(2015-2018); Director (1998-2013) and President (2007-2011) of the Board of Directors, Catholic Charities CYO; Trustee (2002-2011) and Chair of the Finance and Investment Committee (2006-2010) of the Thacher
School.
|
Director of iShares, Inc. (since 2005); Trustee of iShares U.S. ETF Trust (since 2011); Independent Board Chair of iShares, Inc. and iShares U.S. ETF Trust (since 2016); Trustee of Thrivent Church Loan and Income Fund (since 2019). |
Name (Age) | Position |
Principal
Occupation(s)
During the Past 5 Years |
Other
Directorships
Held by Trustee |
|||
Jane
D. Carlin
(64) |
Trustee
(since 2015); Risk Committee Chair (since 2016). |
Consultant (since 2012); Member of the Audit Committee (2012-2018), Chair of the Nominating and Governance Committee (2017-2018) and Director of PHH Corporation (mortgage solutions) (2012-2018); Managing Director and Global Head of Financial Holding Company Governance & Assurance and the Global Head of Operational Risk Management of Morgan Stanley (2006-2012). | Director of iShares, Inc. (since 2015); Trustee of iShares U.S. ETF Trust (since 2015); Member of the Audit Committee (since 2016) and Director of The Hanover Insurance Group, Inc. (since 2016). | |||
Richard
L. Fagnani
(65) |
Trustee
(since 2017); Audit Committee Chair (since 2019). |
Partner, KPMG LLP (2002-2016). | Director of iShares, Inc. (since 2017); Trustee of iShares U.S. ETF Trust (since 2017). | |||
John
E. Kerrigan
(65) |
Trustee
(since 2005); Nominating and Governance and Equity Plus Committee Chairs (since 2019). |
Chief Investment Officer, Santa Clara University (since 2002). | Director of iShares, Inc. (since 2005); Trustee of iShares U.S. ETF Trust (since 2011). | |||
Drew
E. Lawton
(61) |
Trustee
(since 2017); 15(c) Committee Chair (since 2017). |
Senior Managing Director of New York Life Insurance Company (2010-2015). | Director of iShares, Inc. (since 2017); Trustee of iShares U.S. ETF Trust (since 2017). | |||
John
E. Martinez
(59) |
Trustee
(since 2003); Securities Lending Committee Chair (since 2019). |
Director of Real Estate Equity Exchange, Inc. (since 2005); Director of Cloudera Foundation (since 2017); and Director of Reading Partners (2012-2016). | Director of iShares, Inc. (since 2003); Trustee of iShares U.S. ETF Trust (since 2011). | |||
Madhav
V. Rajan
(55) |
Trustee
(since 2011); Fixed Income Plus Committee Chair (since 2019). |
Dean, and George Pratt Shultz Professor of Accounting, University of Chicago Booth School of Business (since 2017); Chair of the Board for the Center for Research in Security Prices, LLC (since 2020); Robert K. Jaedicke Professor of Accounting, Stanford University Graduate School of Business (2001-2017); Professor of Law (by courtesy), Stanford Law School (2005-2017); Senior Associate Dean for Academic Affairs and Head of MBA Program, Stanford University Graduate School of Business (2010-2016). |
Director
of iShares, Inc. (since 2011);
Trustee of iShares U.S. ETF Trust (since 2011). |
Name (Age) | Position |
Principal
Occupation(s)
During the Past 5 Years |
||
Armando
Senra
(49) |
President (since 2019). | Managing Director, BlackRock, Inc. (since 2007); Head of U.S., Canada and Latam iShares, BlackRock, Inc. (since 2019); Head of Latin America Region, BlackRock, Inc. (2006-2019); Managing Director, Bank of America Merrill Lynch (1994-2006). | ||
Trent
Walker
(46) |
Treasurer
and Chief Financial Officer
(since 2020). |
Managing Director of BlackRock, Inc. (since September 2019); Executive Vice President of PIMCO (2016-2019); Senior Vice President of PIMCO (2008-2015); Treasurer (2013-2019) and Assistant Treasurer (2007-2017) of PIMCO Funds, PIMCO Variable Insurance Trust, PIMCO ETF Trust, PIMCO Equity Series, PIMCO Equity Series VIT, PIMCO Managed Accounts Trust, 2 PIMCO-sponsored interval funds and 21 PIMCO-sponsored closed-end funds. | ||
Charles
Park
(52) |
Chief Compliance Officer (since 2006). | Chief Compliance Officer of BlackRock Advisors, LLC and the BlackRock-advised Funds in the Equity-Bond Complex, the Equity-Liquidity Complex and the Closed-End Complex (since 2014); Chief Compliance Officer of BFA (since 2006). | ||
Deepa
Damre
(45) |
Secretary (since 2019). | Managing Director, BlackRock, Inc. (since 2014); Director, BlackRock, Inc. (2009-2013). | ||
Scott
Radell
(51) |
Executive
Vice President
(since 2012). |
Managing Director, BlackRock, Inc. (since 2009); Head of Portfolio Solutions, BlackRock, Inc. (since 2009). | ||
Alan
Mason
(59) |
Executive
Vice President
(since 2016). |
Managing Director, BlackRock, Inc. (since 2009). | ||
Marybeth
Leithead
(57) |
Executive
Vice President
(since 2019). |
Managing Director, BlackRock, Inc. (since 2017); Chief Operating Officer of Americas iShares (since 2017); Portfolio Manager, Municipal Institutional & Wealth Management (2009-2016). |
Name | Fund |
Dollar
Range of Equity
Securities in Named Fund |
Aggregate
Dollar Range
of Equity Securities in all Registered Investment Companies Overseen by Trustee in Family of Investment Companies |
|||
Robert S. Kapito | None | None | None | |||
Salim Ramji | iShares Commodities Select Strategy ETF | $10,001-$50,000 | Over $100,000 | |||
iShares Core MSCI Emerging Markets ETF | Over $100,000 | |||||
iShares Core MSCI Total International Stock ETF | $1-$10,000 | |||||
iShares Core S&P 500 ETF | $1-$10,000 | |||||
iShares Core S&P Total U.S. Stock Market ETF | $1-$10,000 | |||||
iShares Expanded Tech Sector ETF | $1-$10,000 | |||||
iShares Expanded Tech-Software Sector ETF | $1-$10,000 | |||||
iShares MSCI USA ESG Select ETF | $1-$10,000 | |||||
iShares North American Natural Resources ETF | $10,001-$50,000 |
Name | Fund |
Dollar
Range of Equity
Securities in Named Fund |
Aggregate
Dollar Range
of Equity Securities in all Registered Investment Companies Overseen by Trustee in Family of Investment Companies |
|||
iShares Robotics and Artificial Intelligence Multisector ETF | $1-$10,000 | |||||
iShares TIPS Bond ETF | $10,001-$50,000 | |||||
Cecilia H. Herbert | iShares California Muni Bond ETF | Over $100,000 | Over $100,000 | |||
iShares China Large-Cap ETF | $50,001-$100,000 | |||||
iShares Core Dividend Growth ETF | $50,001-$100,000 | |||||
iShares Core MSCI Emerging Markets ETF | $1-$10,000 | |||||
iShares Core MSCI Total International Stock ETF | $10,001-$50,000 | |||||
iShares Core S&P 500 ETF | Over $100,000 | |||||
iShares Core S&P U.S. Growth ETF | $50,001-$100,000 | |||||
iShares Core S&P U.S. Value ETF | $50,001-$100,000 | |||||
iShares iBoxx $ High Yield Corporate Bond ETF | $10,001-$50,000 | |||||
iShares International Select Dividend ETF | $1-$10,000 | |||||
iShares MSCI EAFE ETF | $1-$10,000 | |||||
iShares MSCI Japan ETF | $10,001-$50,000 | |||||
iShares National Muni Bond ETF | $10,001-$50,000 | |||||
iShares Preferred and Income Securities ETF | $10,001-$50,000 | |||||
Jane D. Carlin | iShares 1-3 Year Treasury Bond ETF | $50,001-$100,000 | Over $100,000 | |||
iShares Core MSCI Emerging Markets ETF | $10,001-$50,000 | |||||
iShares Core MSCI Total International Stock ETF | Over $100,000 | |||||
iShares Core S&P Mid-Cap ETF | $10,001-$50,000 | |||||
iShares Core S&P Small-Cap ETF | Over $100,000 | |||||
iShares Core U.S. Aggregate Bond ETF | Over $100,000 | |||||
iShares Edge MSCI Min Vol USA ETF | $50,001-$100,000 | |||||
iShares Global Tech ETF | $10,001-$50,000 | |||||
iShares MSCI ACWI ETF | Over $100,000 | |||||
iShares MSCI ACWI ex U.S. ETF | $50,001-$100,000 | |||||
iShares MSCI EAFE Small-Cap ETF | $10,001-$50,000 | |||||
iShares MSCI Emerging Markets Small-Cap ETF | $10,001-$50,000 | |||||
iShares Select Dividend ETF | $10,001-$50,000 | |||||
iShares Ultra Short-Term Bond ETF | Over $100,000 | |||||
Richard L. Fagnani | iShares Core MSCI EAFE ETF | $10,001-$50,000 | Over $100,000 | |||
iShares Core S&P 500 ETF | $10,001-$50,000 | |||||
iShares Core S&P Small-Cap ETF | $10,001-$50,000 |
Name | Fund |
Dollar
Range of Equity
Securities in Named Fund |
Aggregate
Dollar Range
of Equity Securities in all Registered Investment Companies Overseen by Trustee in Family of Investment Companies |
|||
iShares Edge MSCI Multifactor Emerging Markets ETF | $10,001-$50,000 | |||||
iShares Edge MSCI USA Value Factor ETF | $10,001-$50,000 | |||||
iShares Exponential Technologies ETF | $10,001-$50,000 | |||||
iShares Global Clean Energy ETF | $10,001-$50,000 | |||||
iShares MSCI EAFE Value ETF | $10,001-$50,000 | |||||
iShares MSCI Emerging Markets Small-Cap ETF | $10,001-$50,000 | |||||
iShares Robotics and Artificial Intelligence Multisector ETF | $10,001-$50,000 | |||||
iShares S&P Small-Cap 600 Value ETF | $10,001-$50,000 | |||||
iShares Select Dividend ETF | $10,001-$50,000 | |||||
iShares U.S. Financials ETF | $10,001-$50,000 | |||||
John E. Kerrigan | iShares MSCI ACWI ex U.S. ETF | Over $100,000 | Over $100,000 | |||
Drew E. Lawton | iShares 0-5 Year High Yield Corporate Bond ETF | Over $100,000 | Over $100,000 | |||
iShares Core Dividend Growth ETF | $50,001-$100,000 | |||||
iShares Core MSCI Total International Stock ETF | $50,001-$100,000 | |||||
iShares Core S&P Total U.S. Stock Market ETF | Over $100,000 | |||||
iShares Exponential Technologies ETF | Over $100,000 | |||||
iShares MSCI Frontier 100 ETF | $1-$10,000 | |||||
iShares Nasdaq Biotechnology ETF | $50,001-$100,000 | |||||
iShares Short Maturity Bond ETF | Over $100,000 | |||||
iShares Ultra Short-Term Bond ETF | Over $100,000 | |||||
John E. Martinez | iShares Core 5-10 Year USD Bond ETF | Over $100,000 | Over $100,000 | |||
iShares Core International Aggregate Bond ETF | Over $100,000 | |||||
iShares Global Consumer Staples ETF | Over $100,000 | |||||
iShares Interest Rate Hedged Long-Term Corporate Bond ETF | Over $100,000 | |||||
iShares Intermediate-Term Corporate Bond ETF | Over $100,000 | |||||
iShares MSCI EAFE ETF | Over $100,000 | |||||
iShares Russell 1000 ETF | Over $100,000 | |||||
iShares Russell 1000 Value ETF | Over $100,000 | |||||
iShares Russell 2000 ETF | Over $100,000 | |||||
Madhav V. Rajan | iShares Broad USD High Yield Corporate Bond ETF | Over $100,000 | Over $100,000 |
Name | Fund |
Dollar
Range of Equity
Securities in Named Fund |
Aggregate
Dollar Range
of Equity Securities in all Registered Investment Companies Overseen by Trustee in Family of Investment Companies |
|||
iShares Core Dividend Growth ETF | Over $100,000 | |||||
iShares Core High Dividend ETF | Over $100,000 | |||||
iShares Core MSCI EAFE ETF | Over $100,000 | |||||
iShares Core S&P 500 ETF | Over $100,000 | |||||
iShares Mortgage Real Estate ETF | Over $100,000 | |||||
iShares Preferred and Income Securities ETF | Over $100,000 | |||||
iShares Russell 2000 ETF | Over $100,000 | |||||
iShares Select Dividend ETF | Over $100,000 | |||||
iShares Short-Term Corporate Bond ETF | Over $100,000 | |||||
iShares Short Maturity Bond ETF | Over $100,000 | |||||
iShares Ultra Short-Term Bond ETF | Over $100,000 |
Name |
iShares
Currency Hedged
JPX-Nikkei 400 ETF |
Pension
or
Retirement Benefits Accrued As Part of Trust Expenses1 |
Estimated
Annual
Benefits Upon Retirement1 |
Total
Compensation From the Fund and Fund Complex2 |
||||
Independent Trustees: | ||||||||
Jane D. Carlin | $ 1 | Not Applicable | Not Applicable | $395,000 | ||||
Richard L. Fagnani | 1 | Not Applicable | Not Applicable | 421,764 | ||||
Cecilia H. Herbert | 1 | Not Applicable | Not Applicable | 450,000 | ||||
John E. Kerrigan | 1 | Not Applicable | Not Applicable | 420,000 | ||||
Drew E. Lawton | 1 | Not Applicable | Not Applicable | 406,764 | ||||
John E. Martinez | 1 | Not Applicable | Not Applicable | 395,000 | ||||
Madhav V. Rajan | 1 | Not Applicable | Not Applicable | 395,000 | ||||
Name |
iShares
Currency Hedged
JPX-Nikkei 400 ETF |
Pension
or
Retirement Benefits Accrued As Part of Trust Expenses1 |
Estimated
Annual
Benefits Upon Retirement1 |
Total
Compensation From the Fund and Fund Complex2 |
||||
Interested Trustees: | ||||||||
Robert S. Kapito | $0 | Not Applicable | Not Applicable | $0 | ||||
Salim Ramji3 | 0 | Not Applicable | Not Applicable | 0 | ||||
Mark K. Wiedman4 | 0 | Not Applicable | Not Applicable | 0 |
1 | No Trustee or officer is entitled to any pension or retirement benefits from the Trust. |
2 | Also includes compensation for service on the Board of Trustees of iShares U.S. ETF Trust and the Board of Directors of iShares, Inc. |
3 | Appointed to serve as an Interested Trustee effective June 19, 2019. |
4 | Served as an Interested Trustee through June 19, 2019. |
Name |
Percentage
of Ownership |
|
Merrill
Lynch, Pierce, Fenner & Smith Incorporated
101 Hudson Street 9th Floor Jersey City, NJ 07302-3997 |
56.32% | |
J.P.
Morgan Securities, LLC/JPMC
500 Stanton Christiana Road Newark, DE 19713 |
26.06% |
Management
Fee for Fiscal Year Ended March 31, 20201 |
Fund
Inception Date |
Management
Fees Paid Net of Waivers for Fiscal Year Ended March 31, 2020 |
Management
Fees Paid Net of Waivers for Fiscal Year Ended March 31, 2019 |
Management
Fees Paid Net of Waivers for Fiscal Year Ended March 31, 2018 |
||||
0.59% | 09/29/15 | $0 | $0 | $0 |
1 | BFA has contractually agreed to waive a portion of its management fees so that the Fund's total annual fund operating expenses after fee waiver is equal to the Acquired Fund Fees and Expenses attributable to the Fund's investment in the iShares JPX-Nikkei 400 ETF (“JPXN”), after taking into account any fee waivers by JPXN through July 31, 2025. The contractual waiver may be terminated prior to July 31, 2025 only upon written agreement of the Trust and BFA. For the fiscal years ended March 31, 2020, March 31, 2019 and March 31, 2018, BFA waived $16,555, $16,850 and $15,908 of management fees, respectively. |
Jennifer Hsui | ||||
Types of Accounts | Number | Total Assets | ||
Registered Investment Companies | 298 | $1,030,528,000,000 | ||
Other Pooled Investment Vehicles | 58 | 60,271,000,000 | ||
Other Accounts | 32 | 20,303,000,000 |
Alan Mason | ||||
Types of Accounts | Number | Total Assets | ||
Registered Investment Companies | 334 | $1,062,242,000,000 | ||
Other Pooled Investment Vehicles | 0 | N/A | ||
Other Accounts | 2 | 636,000,000 |
Orlando Montalvo | ||||
Types of Accounts | Number | Total Assets | ||
Registered Investment Companies | 16 | $3,550,000,000 | ||
Other Pooled Investment Vehicles | 21 | 5,572,000,000 | ||
Other Accounts | 0 | N/A |
Greg Savage | ||||
Types of Accounts | Number | Total Assets | ||
Registered Investment Companies | 317 | $1,035,396,000,000 | ||
Other Pooled Investment Vehicles | 30 | 1,398,000,000 | ||
Other Accounts | 61 | 4,888,000,000 |
Jennifer Hsui | ||||
Types of Accounts |
Number
of Other Accounts
with Performance Fees Managed by Portfolio Manager |
Aggregate
of Total Assets |
||
Registered Investment Companies | 0 | N/A | ||
Other Pooled Investment Vehicles | 0 | N/A | ||
Other Accounts | 0 | N/A |
Alan Mason | ||||
Types of Accounts |
Number
of Other Accounts
with Performance Fees Managed by Portfolio Manager |
Aggregate
of Total Assets |
||
Registered Investment Companies | 0 | N/A | ||
Other Pooled Investment Vehicles | 0 | N/A | ||
Other Accounts | 0 | N/A |
Orlando Montalvo | ||||
Types of Accounts |
Number
of Other Accounts
with Performance Fees Managed by Portfolio Manager |
Aggregate
of Total Assets |
||
Registered Investment Companies | 0 | N/A | ||
Other Pooled Investment Vehicles | 0 | N/A | ||
Other Accounts | 0 | N/A |
Greg Savage | ||||
Types of Accounts |
Number
of Other Accounts
with Performance Fees Managed by Portfolio Manager |
Aggregate
of Total Assets |
||
Registered Investment Companies | 0 | N/A | ||
Other Pooled Investment Vehicles | 0 | N/A | ||
Other Accounts | 0 | N/A |
Fund
Inception Date |
Custody,
Administration & Transfer Agency Expenses Paid During Fiscal Year Ended March 31, 2020 |
Custody,
Administration & Transfer Agency Expenses Paid During Fiscal Year Ended March 31, 2019 |
Custody,
Administration & Transfer Agency Expenses Paid During Fiscal Year Ended March 31, 2018 |
|||
09/29/15 | $14,867 | $13,406 | $3,047 |
Fund |
iShares
Currency Hedged
JPX-Nikkei 400 ETF |
Gross
income from
securities lending activities |
$0 |
Fees
and/or compensation
for securities lending activities and related services |
|
Securities
lending
income paid to BTC for services as securities lending agent |
0 |
Fund |
iShares
Currency Hedged
JPX-Nikkei 400 ETF |
Cash
collateral
management expenses not included in securities lending income paid to BTC |
0 |
Administrative
fees not
included in securities lending income paid to BTC |
0 |
Indemnification
fees not
included in securities lending income paid to BTC |
0 |
Rebates
(paid to
borrowers) |
0 |
Other
fees not
included in securities lending income paid to BTC |
0 |
Aggregate
fees/compensation for securities lending activities |
$0 |
Net
income from securities
lending activities |
$0 |
Fund
Inception Date |
Brokerage
Commissions Paid During Fiscal Year Ended March 31, 2020 |
Brokerage
Commissions Paid During Fiscal Year Ended March 31, 2019 |
Brokerage
Commissions Paid During Fiscal Year Ended March 31, 2018 |
|||
09/29/15 | $77 | $64 | $68 |
Fiscal Year Ended March 31, 2020 | Fiscal Year Ended March 31, 2019 | ||
9% | 5% |
Shares
Per
Creation Unit |
Approximate
Value Per Creation Unit (U.S.$) |
|
50,000 | $1,297,000 |
Standard
Creation
Transaction Fee |
Maximum
Additional
Charge* |
|
$100 | 3.0% |
* | As a percentage of the net asset value per Creation Unit. |
Standard
Redemption
Transaction Fee |
Maximum
Additional
Charge* |
|
$100 | 2.0% |
* | As a percentage of the net asset value per Creation Unit, inclusive of the standard redemption transaction fee. |
Non-Expiring
Capital Loss
Carryforward |
$484,716 |
• | Boards and directors |
• | Auditors and audit-related issues |
• | Capital structure, mergers, asset sales and other special transactions |
• | Compensation and benefits |
• | Environmental and social issues |
• | General corporate governance matters and shareholder protections |
• | establishing an appropriate corporate governance structure |
• | supporting and overseeing management in setting long -term strategic goals, applicable measures of value-creation and milestones that will demonstrate progress, and steps taken if any obstacles are anticipated or incurred |
• | ensuring the integrity of financial statements |
• | making independent decisions regarding mergers, acquisitions and disposals |
• | establishing appropriate executive compensation structures |
• | addressing business issues, including environmental and social issues, when they have the potential to materially impact company reputation and performance |
• | current or former employment at the company or a subsidiary within the past several years |
• | being, or representing, a shareholder with a substantial shareholding in the company |
• | interlocking directorships |
• | having any other interest, business or other relationship which could, or could reasonably be perceived to, materially interfere with the director’s ability to act in the best interests of the company |
1) | publish a disclosure in line with industry-specific SASB guidelines by year-end, if they have not already done so, or disclose a similar set of data in a way that is relevant to their particular business; and |
2) | disclose climate-related risks in line with the TCFD’s recommendations, if they have not already done so. This should include the company’s plan for operating under a scenario where the Paris Agreement’s goal of limiting global warming to less than two degrees is fully realized, as expressed by the TCFD guidelines. |
• | The company has already taken sufficient steps to address the concern |
• | The company is in the process of actively implementing a response |
• | There is a clear and material economic disadvantage to the company in the near-term if the issue is not addressed in the manner requested by the shareholder proposal |
• | BlackRock clients who may be issuers of securities or proponents of shareholder resolutions |
• | BlackRock business partners or third parties who may be issuers of securities or proponents of shareholder resolutions |
• | BlackRock employees who may sit on the boards of public companies held in Funds managed by BlackRock |
• | Significant BlackRock, Inc. investors who may be issuers of securities held in Funds managed by BlackRock |
• | Securities of BlackRock, Inc. or BlackRock investment funds held in Funds managed by BlackRock |
• | BlackRock, Inc. board members who serve as senior executives of public companies held in Funds managed by BlackRock |
• | Adopted the Guidelines which are designed to protect and enhance the economic value of the companies in which BlackRock invests on behalf of clients. |
• | Established a reporting structure that separates BIS from employees with sales, vendor management or business partnership roles. In addition, BlackRock seeks to ensure that all engagements with corporate issuers, dissident shareholders or shareholder proponents are managed consistently and without regard to BlackRock’s relationship with such parties. Clients or business partners are not given special treatment or differentiated access to BIS. BIS prioritizes engagements based on factors including but not limited to our need for additional information to make a voting decision or our view on the likelihood that an engagement could lead to positive outcome(s) over time for the economic value of the company. Within the normal course of business, BIS may engage directly with BlackRock clients, business partners and/or third parties, and/or with employees with sales, vendor management or business partnership roles, in discussions regarding our approach to stewardship, general corporate governance matters, client reporting needs, and/or to otherwise ensure that proxy-related client service levels are met. |
• | Determined to engage, in certain instances, an independent fiduciary to vote proxies as a further safeguard to avoid potential conflicts of interest, to satisfy regulatory compliance requirements, or as may be otherwise required by applicable law. In such circumstances, the independent fiduciary provides BlackRock’s proxy voting agent with instructions, in accordance with the Guidelines, as to how to vote such proxies, and BlackRock’s proxy voting agent votes the proxy in accordance with the independent fiduciary’s determination. BlackRock uses an independent fiduciary to vote proxies of (i) any company that is affiliated with BlackRock, Inc., (ii) any public company that includes BlackRock employees on its board of directors, (iii) The PNC Financial Services Group, Inc., (iv) any public company of which a BlackRock, Inc. board member serves as a senior executive, and (v) companies when legal or regulatory requirements compel BlackRock to use an independent fiduciary. In selecting an independent fiduciary, we assess several characteristics, including but not limited to: independence, an ability to analyze proxy issues and vote in the best economic interest of our clients, reputation for reliability and integrity, and operational capacity to accurately deliver the assigned votes in a timely manner. We may engage more than one independent fiduciary, in part in order to mitigate potential or perceived conflicts of interest at an independent fiduciary. The Global Committee appoints and reviews the performance of the independent fiduciar(ies), generally on an annual basis. |
Contents | |
Introduction | A-16 |
Voting guidelines | A-16 |
Boards and directors | A-16 |
- Director elections | A-16 |
- Independence | A-16 |
- Oversight | A-17 |
- Responsiveness to shareholders | A-17 |
- Shareholder rights | A-17 |
- Board composition and effectiveness | A-18 |
- Board size | A-19 |
- CEO and management succession planning | A-19 |
- Classified board of directors / staggered terms | A-19 |
- Contested director elections | A-19 |
- Cumulative voting | A-19 |
- Director compensation and equity programs | A-19 |
- Majority vote requirements | A-19 |
- Risk oversight | A-20 |
- Separation of chairman and CEO | A-20 |
Auditors and audit-related issues | A-20 |
Capital structure proposals | A-21 |
- Equal voting rights | A-21 |
- Blank check preferred stock | A-21 |
- Increase in authorized common shares | A-21 |
- Increase or issuance of preferred stock | A-21 |
- Stock splits | A-22 |
Mergers, asset sales, and other special transactions | A-22 |
- Poison pill plans | A-22 |
- Reimbursement of expenses for successful shareholder campaigns | A-22 |
Executive Compensation | A-22 |
- Advisory resolutions on executive compensation (“Say on Pay”) | A-23 |
- Advisory votes on the frequency of Say on Pay resolutions | A-23 |
- Claw back proposals | A-23 |
- Employee stock purchase plans | A-23 |
- Equity compensation plans | A-23 |
- Golden parachutes | A-23 |
- Option exchanges | A-24 |
- Pay-for-Performance plans | A-24 |
- Supplemental executive retirement plans | A-24 |
Environmental and social issues | A-24 |
- Climate risk | A-25 |
- Corporate political activities | A-26 |
General corporate governance matters | A-26 |
- Adjourn meeting to solicit additional votes | A-26 |
- Bundled proposals | A-26 |
- Exclusive forum provisions | A-26 |
- Multi-jurisdictional companies | A-26 |
- Other business | A-27 |
- Reincorporation | A-27 |
- IPO governance | A-27 |
Contents | |
Shareholder Protections | A-27 |
- Amendment to charter / articles / bylaws | A-27 |
- Proxy access | A-28 |
- Right to act by written consent | A-28 |
- Right to call a special meeting | A-28 |
- Simple majority voting | A-28 |
• | Boards and directors |
• | Auditors and audit-related issues |
• | Capital structure |
• | Mergers, asset sales, and other special transactions |
• | Executive compensation |
• | Environmental and social issues |
• | General corporate governance matters |
• | Shareholder protections |
• | Employment as a senior executive by the company or a subsidiary within the past five years |
• | An equity ownership in the company in excess of 20% |
• | Having any other interest, business, or relationship which could, or could reasonably be perceived to, materially interfere with the director’s ability to act in the best interests of the company |
• | Where the board has failed to exercise oversight with regard to accounting practices or audit oversight, we will consider voting against the current audit committee, and any other members of the board who may be responsible. For example, this may apply to members of the audit committee during a period when the board failed to facilitate quality, independent auditing if substantial accounting irregularities suggest insufficient oversight by that committee |
• | Members of the compensation committee during a period in which executive compensation appears excessive relative to performance and peers, and where we believe the compensation committee has not already substantially addressed this issue |
• | The chair of the nominating / governance committee, or where no chair exists, the nominating / governance committee member with the longest tenure, where the board is not comprised of a majority of independent directors. However, this would not apply in the case of a controlled company |
• | Where it appears the director has acted (at the company or at other companies) in a manner that compromises his / her reliability to represent the best long-term economic interests of shareholders |
• | Where a director has a pattern of poor attendance at combined board and applicable key committee meetings. Excluding exigent circumstances, BlackRock generally considers attendance at less than 75% of the combined board and applicable key committee meetings by a board member to be poor attendance |
• | Where a director serves on an excess number of boards, which may limit his / her capacity to focus on each board’s requirements. The following illustrates the maximum number of boards on which a director may serve, before he / she is considered to be over-committed: |
Public
Company CEO |
#
Outside
Public Boards* |
Total
# of
Public Boards |
|||
Director A | x | 1 | 2 | ||
Director B | 3 | 4 |
* | In addition to the company under review |
• | The independent chair or lead independent director, members of the nominating / governance committee, and / or the longest tenured director(s), where we observe a lack of board responsiveness to shareholders, evidence of board entrenchment, and / or failure to promote adequate board succession planning |
• | The chair of the nominating / governance committee, or where no chair exists, the nominating / governance committee member with the longest tenure, where board member(s) at the most recent election of directors have received withhold votes from more than 30% of shares voted and the board has not taken appropriate action to respond to shareholder concerns. This may not apply in cases where BlackRock did not support the initial withhold vote |
• | The independent chair or lead independent director and / or members of the nominating / governance committee, where a board fails to implement shareholder proposals that receive a majority of votes cast at a prior shareholder meeting, and the proposals, in our view, have a direct and substantial impact on shareholders’ fundamental rights or long-term economic interests |
• | The independent chair or lead independent director and members of the governance committee, where a board implements or renews a poison pill without shareholder approval |
• | The independent chair or lead independent director and members of the governance committee, where a board amends the charter / articles / bylaws such that the effect may be to entrench directors or to significantly reduce shareholder rights |
• | Members of the compensation committee where the company has repriced options without shareholder approval |
• | If a board maintains a classified structure, it is possible that the director(s) with whom we have a particular concern may not be subject to election in the year that the concern arises. In such situations, if we have a concern regarding a committee or committee chair that is not up for re-election, we will generally register our concern by withholding votes from all available members of the relevant committee |
• | The mix of competencies, experience, and other qualities required to effectively oversee and guide management in light of the stated long-term strategy of the company |
• | The process by which candidates are identified and selected, including whether professional firms or other sources outside of incumbent directors’ networks have been engaged to identify and / or assess candidates |
• | The process by which boards evaluate themselves and any significant outcomes of the evaluation process, without divulging inappropriate and / or sensitive details |
• | The consideration given to board diversity, including, but not limited to, gender, ethnicity, race, age, experience, geographic location, skills, and perspective in the nomination process |
Combined
Chair / CEO Model |
Separate
Chair Model |
||||
Chair / CEO | Lead Director | Chair | |||
Board Meetings | Authority to call full meetings of the board of directors |
Attends
full meetings of the board of directors
Authority to call meetings of independent directors Briefs CEO on issues arising from executive sessions |
Authority to call full meetings of the board of directors | ||
Agenda | Primary responsibility for shaping board agendas, consulting with the lead director | Collaborates with chair / CEO to set board agenda and board information | Primary responsibility for shaping board agendas, in conjunction with CEO | ||
Board Communications | Communicates with all directors on key issues and concerns outside of full board meetings | Facilitates discussion among independent directors on key issues and concerns outside of full board meetings, including contributing to the oversight of CEO and management succession planning | Facilitates discussion among independent directors on key issues and concerns outside of full board meetings, including contributing to the oversight of CEO and management succession planning |
• | Appears to have a legitimate financing motive for requesting blank check authority |
• | Has committed publicly that blank check preferred shares will not be used for anti-takeover purposes |
• | Has a history of using blank check preferred stock for financings |
• | Has blank check preferred stock previously outstanding such that an increase would not necessarily provide further anti-takeover protection but may provide greater financing flexibility |
• | The degree to which the proposed transaction represents a premium to the company’s trading price. We consider the share price over multiple time periods prior to the date of the merger announcement. In most cases, business combinations should provide a premium. We may consider comparable transaction analyses provided by the parties’ financial advisors and our own valuation assessments. For companies facing insolvency or bankruptcy, a premium may not apply |
• | There should be clear strategic, operational, and / or financial rationale for the combination |
• | Unanimous board approval and arm’s-length negotiations are preferred. We will consider whether the transaction involves a dissenting board or does not appear to be the result of an arm’s-length bidding process. We may also consider whether executive and / or board members’ financial interests in a given transaction appear likely to affect their ability to place shareholders’ interests before their own |
• | We prefer transaction proposals that include the fairness opinion of a reputable financial advisor assessing the value of the transaction to shareholders in comparison to recent similar transactions |
• | Whether we believe that the triggering event is in the best interest of shareholders |
• | Whether management attempted to maximize shareholder value in the triggering event |
• | The percentage of total premium or transaction value that will be transferred to the management team, rather than shareholders, as a result of the golden parachute payment |
• | Whether excessively large excise tax gross-up payments are part of the pay-out |
• | Whether the pay package that serves as the basis for calculating the golden parachute payment was reasonable in light of performance and peers |
• | Whether the golden parachute payment will have the effect of rewarding a management team that has failed to effectively manage the company |
• | The company has experienced significant stock price decline as a result of macroeconomic trends, not individual company performance |
• | Directors and executive officers are excluded; the exchange is value neutral or value creative to shareholders; tax, accounting, and other technical considerations have been fully contemplated |
• | There is clear evidence that absent repricing, the company will suffer serious employee incentive or retention and recruiting problems |
• | Publish disclosures in line with industry specific SASB guidelines by year-end, if they have not already done so, or disclose a similar set of data in a way that is relevant to their particular business; and |
• | Disclose climate-related risks in line with the TCFD’s recommendations, if they have not already done so. This should include the company’s plan for operating under a scenario where the Paris Agreement’s goal of limiting global warming to less than two degrees is fully realized, as expressed by the TCFD guidelines. |
• | See our commentary on our approach to engagement on TCFD and SASB aligned reporting for greater detail of our expectations. |
• | The company has already taken sufficient steps to address the concern |
• | The company is in the process of actively implementing a response |
• | There is a clear and material economic disadvantage to the company in the near-term if the issue is not addressed in the manner requested by the shareholder proposal |
Japan | |||
January 1 | April 29 | September 21 | |
January 2 | May 4 | September 22 | |
January 3 | May 5 | November 3 | |
January 13 | May 6 | November 23 | |
February 11 | July 23 | December 31 | |
February 24 | July 24 | ||
March 20 | August 10 |
Fund | Ticker | Listing Exchange | ||
iShares iBonds Sep 2020 Term Muni Bond ETF1 | IBMI | NYSE Arca |
1 | The iShares iBonds Sep 2020 Term Muni Bond ETF may also conduct business as the iBonds Sep 2020 Term Muni Bond ETF. |
1. | Concentrate its investments in a particular industry, as that term is used in the Investment Company Act, except that |
the Fund will concentrate to approximately the same extent that its Underlying Index concentrates in the securities of a particular industry or group of industries. | |
2. | Borrow money, except as permitted under the Investment Company Act. |
3. | Issue senior securities to the extent such issuance would violate the Investment Company Act. |
4. | Purchase or hold real estate, except the Fund may purchase and hold securities or other instruments that are secured by, or linked to, real estate or interests therein, securities of real estate investment trusts (“REITs”), mortgage-related securities and securities of issuers engaged in the real estate business, and the Fund may purchase and hold real estate as a result of the ownership of securities or other instruments. |
5. | Underwrite securities issued by others, except to the extent that the sale of portfolio securities by the Fund may be deemed to be an underwriting or as otherwise permitted by applicable law. |
6. | Purchase or sell commodities or commodity contracts, except as permitted by the Investment Company Act. |
7. | Make loans to the extent prohibited by the Investment Company Act. |
Name (Age) | Position |
Principal
Occupation(s)
During the Past 5 Years |
Other
Directorships
Held by Trustee |
|||
Robert
S. Kapito1
(63) |
Trustee
(since 2009). |
President, BlackRock, Inc. (since 2006); Vice Chairman of BlackRock, Inc. and Head of BlackRock’s Portfolio Management Group (since its formation in 1998) and BlackRock, Inc.’s predecessor entities (since 1988); Trustee, University of Pennsylvania (since 2009); President of Board of Directors, Hope & Heroes Children’s Cancer Fund (since 2002). | Director of BlackRock, Inc. (since 2006); Director of iShares, Inc. (since 2009); Trustee of iShares U.S. ETF Trust (since 2011). |
Name (Age) | Position |
Principal
Occupation(s)
During the Past 5 Years |
Other
Directorships
Held by Trustee |
|||
Salim
Ramji2
(50) |
Trustee (since 2019). | Senior Managing Director, BlackRock, Inc. (since 2014); Global Head of BlackRock’s ETF and Index Investments Business (since 2019); Head of BlackRock’s U.S. Wealth Advisory Business (2015-2019); Global Head of Corporate Strategy, BlackRock, Inc. (2014-2015); Senior Partner, McKinsey & Company (2010-2014). | Director of iShares, Inc. (since 2019); Trustee of iShares U.S. ETF Trust (since 2019). |
1 | Robert S. Kapito is deemed to be an “interested person” (as defined in the 1940 Act) of the Trust due to his affiliations with BlackRock, Inc. and its affiliates. |
2 | Salim Ramji is deemed to be an “interested person” (as defined in the 1940 Act) of the Trust due to his affiliations with BlackRock, Inc. and its affiliates. |
Name (Age) | Position |
Principal
Occupation(s)
During the Past 5 Years |
Other
Directorships
Held by Trustee |
|||
Cecilia
H. Herbert
(71) |
Trustee
(since 2005); Independent Board Chair (since 2016). |
Chair
of the Finance Committee (since 2019) and Trustee and Member of the Finance, Audit and Quality Committees of Stanford Health Care (since 2016); Trustee of WNET, New York's public media company (since 2011) and Member of the Audit Committee (since
2018) and Investment Committee (since 2011); Chair (1994-2005) and Member (since 1992) of the Investment Committee, Archdiocese of San Francisco; Trustee of Forward Funds (14 portfolios) (2009-2018); Trustee of Salient MF Trust (4 portfolios)
(2015-2018); Director (1998-2013) and President (2007-2011) of the Board of Directors, Catholic Charities CYO; Trustee (2002-2011) and Chair of the Finance and Investment Committee (2006-2010) of the Thacher
School.
|
Director of iShares, Inc. (since 2005); Trustee of iShares U.S. ETF Trust (since 2011); Independent Board Chair of iShares, Inc. and iShares U.S. ETF Trust (since 2016); Trustee of Thrivent Church Loan and Income Fund (since 2019). |
Name (Age) | Position |
Principal
Occupation(s)
During the Past 5 Years |
Other
Directorships
Held by Trustee |
|||
Jane
D. Carlin
(64) |
Trustee
(since 2015); Risk Committee Chair (since 2016). |
Consultant (since 2012); Member of the Audit Committee (2012-2018), Chair of the Nominating and Governance Committee (2017-2018) and Director of PHH Corporation (mortgage solutions) (2012-2018); Managing Director and Global Head of Financial Holding Company Governance & Assurance and the Global Head of Operational Risk Management of Morgan Stanley (2006-2012). | Director of iShares, Inc. (since 2015); Trustee of iShares U.S. ETF Trust (since 2015); Member of the Audit Committee (since 2016) and Director of The Hanover Insurance Group, Inc. (since 2016). | |||
Richard
L. Fagnani
(65) |
Trustee
(since 2017); Audit Committee Chair (since 2019). |
Partner, KPMG LLP (2002-2016). | Director of iShares, Inc. (since 2017); Trustee of iShares U.S. ETF Trust (since 2017). | |||
John
E. Kerrigan
(65) |
Trustee
(since 2005); Nominating and Governance and Equity Plus Committee Chairs (since 2019). |
Chief Investment Officer, Santa Clara University (since 2002). | Director of iShares, Inc. (since 2005); Trustee of iShares U.S. ETF Trust (since 2011). | |||
Drew
E. Lawton
(61) |
Trustee
(since 2017); 15(c) Committee Chair (since 2017). |
Senior Managing Director of New York Life Insurance Company (2010-2015). | Director of iShares, Inc. (since 2017); Trustee of iShares U.S. ETF Trust (since 2017). | |||
John
E. Martinez
(59) |
Trustee
(since 2003); Securities Lending Committee Chair (since 2019). |
Director of Real Estate Equity Exchange, Inc. (since 2005); Director of Cloudera Foundation (since 2017); and Director of Reading Partners (2012-2016). | Director of iShares, Inc. (since 2003); Trustee of iShares U.S. ETF Trust (since 2011). | |||
Madhav
V. Rajan
(55) |
Trustee
(since 2011); Fixed Income Plus Committee Chair (since 2019). |
Dean, and George Pratt Shultz Professor of Accounting, University of Chicago Booth School of Business (since 2017); Chair of the Board for the Center for Research in Security Prices, LLC (since 2020); Robert K. Jaedicke Professor of Accounting, Stanford University Graduate School of Business (2001-2017); Professor of Law (by courtesy), Stanford Law School (2005-2017); Senior Associate Dean for Academic Affairs and Head of MBA Program, Stanford University Graduate School of Business (2010-2016). |
Director
of iShares, Inc. (since 2011);
Trustee of iShares U.S. ETF Trust (since 2011). |
Name (Age) | Position |
Principal
Occupation(s)
During the Past 5 Years |
||
Armando
Senra
(49) |
President (since 2019). | Managing Director, BlackRock, Inc. (since 2007); Head of U.S., Canada and Latam iShares, BlackRock, Inc. (since 2019); Head of Latin America Region, BlackRock, Inc. (2006-2019); Managing Director, Bank of America Merrill Lynch (1994-2006). | ||
Trent
Walker
(46) |
Treasurer
and Chief Financial Officer
(since 2020). |
Managing Director of BlackRock, Inc. (since September 2019); Executive Vice President of PIMCO (2016-2019); Senior Vice President of PIMCO (2008-2015); Treasurer (2013-2019) and Assistant Treasurer (2007-2017) of PIMCO Funds, PIMCO Variable Insurance Trust, PIMCO ETF Trust, PIMCO Equity Series, PIMCO Equity Series VIT, PIMCO Managed Accounts Trust, 2 PIMCO-sponsored interval funds and 21 PIMCO-sponsored closed-end funds. | ||
Charles
Park
(52) |
Chief Compliance Officer (since 2006). | Chief Compliance Officer of BlackRock Advisors, LLC and the BlackRock-advised Funds in the Equity-Bond Complex, the Equity-Liquidity Complex and the Closed-End Complex (since 2014); Chief Compliance Officer of BFA (since 2006). | ||
Deepa
Damre
(45) |
Secretary (since 2019). | Managing Director, BlackRock, Inc. (since 2014); Director, BlackRock, Inc. (2009-2013). | ||
Scott
Radell
(51) |
Executive
Vice President
(since 2012). |
Managing Director, BlackRock, Inc. (since 2009); Head of Portfolio Solutions, BlackRock, Inc. (since 2009). | ||
Alan
Mason
(59) |
Executive
Vice President
(since 2016). |
Managing Director, BlackRock, Inc. (since 2009). | ||
Marybeth
Leithead
(57) |
Executive
Vice President
(since 2019). |
Managing Director, BlackRock, Inc. (since 2017); Chief Operating Officer of Americas iShares (since 2017); Portfolio Manager, Municipal Institutional & Wealth Management (2009-2016). |
Name | Fund |
Dollar
Range of Equity
Securities in Named Fund |
Aggregate
Dollar Range
of Equity Securities in all Registered Investment Companies Overseen by Trustee in Family of Investment Companies |
|||
Robert S. Kapito | None | None | None | |||
Salim Ramji | iShares Commodities Select Strategy ETF | $10,001-$50,000 | Over $100,000 | |||
iShares Core MSCI Emerging Markets ETF | Over $100,000 | |||||
iShares Core MSCI Total International Stock ETF | $1-$10,000 | |||||
iShares Core S&P 500 ETF | $1-$10,000 | |||||
iShares Core S&P Total U.S. Stock Market ETF | $1-$10,000 | |||||
iShares Expanded Tech Sector ETF | $1-$10,000 | |||||
iShares Expanded Tech-Software Sector ETF | $1-$10,000 | |||||
iShares MSCI USA ESG Select ETF | $1-$10,000 | |||||
iShares North American Natural Resources ETF | $10,001-$50,000 |
Name | Fund |
Dollar
Range of Equity
Securities in Named Fund |
Aggregate
Dollar Range
of Equity Securities in all Registered Investment Companies Overseen by Trustee in Family of Investment Companies |
|||
iShares Robotics and Artificial Intelligence Multisector ETF | $1-$10,000 | |||||
iShares TIPS Bond ETF | $10,001-$50,000 | |||||
Cecilia H. Herbert | iShares California Muni Bond ETF | Over $100,000 | Over $100,000 | |||
iShares China Large-Cap ETF | $50,001-$100,000 | |||||
iShares Core Dividend Growth ETF | $50,001-$100,000 | |||||
iShares Core MSCI Emerging Markets ETF | $1-$10,000 | |||||
iShares Core MSCI Total International Stock ETF | $10,001-$50,000 | |||||
iShares Core S&P 500 ETF | Over $100,000 | |||||
iShares Core S&P U.S. Growth ETF | $50,001-$100,000 | |||||
iShares Core S&P U.S. Value ETF | $50,001-$100,000 | |||||
iShares iBoxx $ High Yield Corporate Bond ETF | $10,001-$50,000 | |||||
iShares International Select Dividend ETF | $1-$10,000 | |||||
iShares MSCI EAFE ETF | $1-$10,000 | |||||
iShares MSCI Japan ETF | $10,001-$50,000 | |||||
iShares National Muni Bond ETF | $10,001-$50,000 | |||||
iShares Preferred and Income Securities ETF | $10,001-$50,000 | |||||
Jane D. Carlin | iShares 1-3 Year Treasury Bond ETF | $50,001-$100,000 | Over $100,000 | |||
iShares Core MSCI Emerging Markets ETF | $10,001-$50,000 | |||||
iShares Core MSCI Total International Stock ETF | Over $100,000 | |||||
iShares Core S&P Mid-Cap ETF | $10,001-$50,000 | |||||
iShares Core S&P Small-Cap ETF | Over $100,000 | |||||
iShares Core U.S. Aggregate Bond ETF | Over $100,000 | |||||
iShares Edge MSCI Min Vol USA ETF | $50,001-$100,000 | |||||
iShares Global Tech ETF | $10,001-$50,000 | |||||
iShares MSCI ACWI ETF | Over $100,000 | |||||
iShares MSCI ACWI ex U.S. ETF | $50,001-$100,000 | |||||
iShares MSCI EAFE Small-Cap ETF | $10,001-$50,000 | |||||
iShares MSCI Emerging Markets Small-Cap ETF | $10,001-$50,000 | |||||
iShares Select Dividend ETF | $10,001-$50,000 | |||||
iShares Ultra Short-Term Bond ETF | Over $100,000 | |||||
Richard L. Fagnani | iShares Core MSCI EAFE ETF | $10,001-$50,000 | Over $100,000 | |||
iShares Core S&P 500 ETF | $10,001-$50,000 | |||||
iShares Core S&P Small-Cap ETF | $10,001-$50,000 |
Name | Fund |
Dollar
Range of Equity
Securities in Named Fund |
Aggregate
Dollar Range
of Equity Securities in all Registered Investment Companies Overseen by Trustee in Family of Investment Companies |
|||
iShares Edge MSCI Multifactor Emerging Markets ETF | $10,001-$50,000 | |||||
iShares Edge MSCI USA Value Factor ETF | $10,001-$50,000 | |||||
iShares Exponential Technologies ETF | $10,001-$50,000 | |||||
iShares Global Clean Energy ETF | $10,001-$50,000 | |||||
iShares MSCI EAFE Value ETF | $10,001-$50,000 | |||||
iShares MSCI Emerging Markets Small-Cap ETF | $10,001-$50,000 | |||||
iShares Robotics and Artificial Intelligence Multisector ETF | $10,001-$50,000 | |||||
iShares S&P Small-Cap 600 Value ETF | $10,001-$50,000 | |||||
iShares Select Dividend ETF | $10,001-$50,000 | |||||
iShares U.S. Financials ETF | $10,001-$50,000 | |||||
John E. Kerrigan | iShares MSCI ACWI ex U.S. ETF | Over $100,000 | Over $100,000 | |||
Drew E. Lawton | iShares 0-5 Year High Yield Corporate Bond ETF | Over $100,000 | Over $100,000 | |||
iShares Core Dividend Growth ETF | $50,001-$100,000 | |||||
iShares Core MSCI Total International Stock ETF | $50,001-$100,000 | |||||
iShares Core S&P Total U.S. Stock Market ETF | Over $100,000 | |||||
iShares Exponential Technologies ETF | Over $100,000 | |||||
iShares MSCI Frontier 100 ETF | $1-$10,000 | |||||
iShares Nasdaq Biotechnology ETF | $50,001-$100,000 | |||||
iShares Short Maturity Bond ETF | Over $100,000 | |||||
iShares Ultra Short-Term Bond ETF | Over $100,000 | |||||
John E. Martinez | iShares Core 5-10 Year USD Bond ETF | Over $100,000 | Over $100,000 | |||
iShares Core International Aggregate Bond ETF | Over $100,000 | |||||
iShares Global Consumer Staples ETF | Over $100,000 | |||||
iShares Interest Rate Hedged Long-Term Corporate Bond ETF | Over $100,000 | |||||
iShares Intermediate-Term Corporate Bond ETF | Over $100,000 | |||||
iShares MSCI EAFE ETF | Over $100,000 | |||||
iShares Russell 1000 ETF | Over $100,000 | |||||
iShares Russell 1000 Value ETF | Over $100,000 | |||||
iShares Russell 2000 ETF | Over $100,000 | |||||
Madhav V. Rajan | iShares Broad USD High Yield Corporate Bond ETF | Over $100,000 | Over $100,000 |
Name | Fund |
Dollar
Range of Equity
Securities in Named Fund |
Aggregate
Dollar Range
of Equity Securities in all Registered Investment Companies Overseen by Trustee in Family of Investment Companies |
|||
iShares Core Dividend Growth ETF | Over $100,000 | |||||
iShares Core High Dividend ETF | Over $100,000 | |||||
iShares Core MSCI EAFE ETF | Over $100,000 | |||||
iShares Core S&P 500 ETF | Over $100,000 | |||||
iShares Mortgage Real Estate ETF | Over $100,000 | |||||
iShares Preferred and Income Securities ETF | Over $100,000 | |||||
iShares Russell 2000 ETF | Over $100,000 | |||||
iShares Select Dividend ETF | Over $100,000 | |||||
iShares Short-Term Corporate Bond ETF | Over $100,000 | |||||
iShares Short Maturity Bond ETF | Over $100,000 | |||||
iShares Ultra Short-Term Bond ETF | Over $100,000 |
Name |
iShares
iBonds Sep
2020 Term Muni Bond ETF |
Pension
or
Retirement Benefits Accrued As Part of Trust Expenses3 |
Estimated
Annual
Benefits Upon Retirement3 |
Total
Compensation From the Fund and Fund Complex4 |
||||
Independent Trustees: | ||||||||
Jane D. Carlin | $ 113 | Not Applicable | Not Applicable | 395,000 | ||||
Richard L. Fagnani | 122 | Not Applicable | Not Applicable | 421,764 | ||||
Cecilia H. Herbert | 131 | Not Applicable | Not Applicable | 450,000 | ||||
John E. Kerrigan | 123 | Not Applicable | Not Applicable | 420,000 | ||||
Drew E. Lawton | 118 | Not Applicable | Not Applicable | 406,764 | ||||
John E. Martinez | 115 | Not Applicable | Not Applicable | 395,000 | ||||
Madhav V. Rajan | 115 | Not Applicable | Not Applicable | 395,000 | ||||
Name |
iShares
iBonds Sep
2020 Term Muni Bond ETF |
Pension
or
Retirement Benefits Accrued As Part of Trust Expenses3 |
Estimated
Annual
Benefits Upon Retirement3 |
Total
Compensation From the Fund and Fund Complex4 |
||||
Interested Trustees: | ||||||||
Robert S. Kapito | $0 | Not Applicable | Not Applicable | $0 | ||||
Salim Ramji1 | 0 | Not Applicable | Not Applicable | 0 | ||||
Mark K. Wiedman2 | 0 | Not Applicable | Not Applicable | 0 |
1 | Appointed to serve as an Interested Trustee effective June 19, 2019. |
2 | Served as an Interested Trustee through June 19, 2019. |
3 | No Trustee or officer is entitled to any pension or retirement benefits from the Trust. |
4 | Also includes compensation for service on the Board of Trustees of iShares U.S. ETF Trust and the Board of Directors of iShares, Inc. |
Name |
Percentage
of Ownership |
|
Charles
Schwab & Co., Inc.
101 Montgomery Street San Francisco, CA 94014 |
22.69% | |
National
Financial Services LLC
499 Washington Blvd Jersey City, NJ 07310 |
15.02% | |
Merrill
Lynch, Pierce, Fenner & Smith Incorporated - TS Sub
101 Hudson Street 9th Floor Jersey City, NJ 07302-3997 |
8.95% | |
U.S.
Bank N.A.
1555 North Rivercenter Dr. Suite 302 Milwaukee, WI 53212 |
7.40% | |
TD
Ameritrade Clearing, Inc.
4700 Alliance Gateway Freeway Fort Worth, TX 76177 |
7.22% | |
LPL
Financial Corporation
9785 Towne Centre Drive San Diego, CA 92121-1968 |
5.37% |
Management
Fee for the Fiscal Year Ended March 31, 2020 |
Fund
Inception Date |
Management
Fees Paid Net of Waivers for Fiscal Year Ended March 31, 2020 |
Management
Fees Paid Net of Waivers for Fiscal Year Ended March 31, 2019 |
Management
Fees Paid Net of Waivers for Fiscal Year Ended March 31, 2018 |
||||
0.18% | 08/12/14 | $621,732 | $547,987 | $387,439 |
James Mauro | ||||
Types of Accounts | Number | Total Assets | ||
Registered Investment Companies | 96 | $395,655,000,000 | ||
Other Pooled Investment Vehicles | 30 | 118,054,000,000 | ||
Other Accounts | 30 | 28,478,000,000 |
Scott Radell | ||||
Types of Accounts | Number | Total Assets | ||
Registered Investment Companies | 109 | $412,726,000,000 | ||
Other Pooled Investment Vehicles | 26 | 27,839,000,000 | ||
Other Accounts | 12 | 7,916,000,000 |
James Mauro | ||||
Types of Accounts |
Number
of Other
Accounts with Performance Fees Managed by Portfolio Manager |
Aggregate
of Total Assets |
||
Registered Investment Companies | 0 | N/A | ||
Other Pooled Investment Vehicles | 0 | N/A | ||
Other Accounts | 0 | N/A |
Scott Radell | ||||
Types of Accounts |
Number
of Other
Accounts with Performance Fees Managed by Portfolio Manager |
Aggregate
of Total Assets |
||
Registered Investment Companies | 0 | N/A | ||
Other Pooled Investment Vehicles | 0 | N/A | ||
Other Accounts | 1 | $828,000,000 |
Fund
Inception Date |
Administration,
Custodian, Transfer Agency Expenses Paid During Fiscal Year Ended March 31, 2020 |
Administration,
Custodian, Transfer Agency Expenses Paid During Fiscal Year Ended March 31, 2019 |
Administration,
Custodian, Transfer Agency Expenses Paid During Fiscal Year Ended March 31, 2018 |
|||
08/12/14 | $20,487 | $17,169 | $9,656 |
Fund |
iShares
iBonds Sep 2020
Term Muni Bond ETF |
Gross
income from securities
lending activities |
$0 |
Fees
and/or compensation for
securities lending activities and related services |
|
Securities
lending income paid to
BTC for services as securities lending agent |
0 |
Cash
collateral management
expenses not included in securities lending income paid to BTC |
0 |
Administrative
fees not included
in securities lending income paid to BTC |
0 |
Indemnification
fees not included
in securities lending income paid to BTC |
0 |
Rebates (paid to borrowers) | 0 |
Other
fees not included in
securities lending income paid to BTC |
0 |
Aggregate
fees/compensation for
securities lending activities |
$0 |
Fund |
iShares
iBonds Sep 2020
Term Muni Bond ETF |
Net
income from securities lending
activities |
$0 |
Fiscal
Year ended
March 31, 2020 |
Fiscal
Year ended
March 31, 2019 |
||
4% | 0% |
Shares
Per
Creation Unit |
Approximate
Value Per Creation Unit (U.S.$) |
|
50,000 | $1,276,500 |
Standard
Creation
Transaction Fee |
Maximum
Additional
Charge for Creations* |
|
$150 | 3.0% |
* | As a percentage of the net asset value per Creation Unit. |
Standard
Redemption
Transaction Fee |
Maximum
Additional
Charge for Redemptions* |
|
$150 | 2.0% |
* | As a percentage of the net asset value per Creation Unit, inclusive of the standard redemption transaction fee. |
• | Boards and directors |
• | Auditors and audit-related issues |
• | Capital structure, mergers, asset sales and other special transactions |
• | Compensation and benefits |
• | Environmental and social issues |
• | General corporate governance matters and shareholder protections |
• | establishing an appropriate corporate governance structure |
• | supporting and overseeing management in setting long -term strategic goals, applicable measures of value-creation and milestones that will demonstrate progress, and steps taken if any obstacles are anticipated or incurred |
• | ensuring the integrity of financial statements |
• | making independent decisions regarding mergers, acquisitions and disposals |
• | establishing appropriate executive compensation structures |
• | addressing business issues, including environmental and social issues, when they have the potential to materially impact company reputation and performance |
• | current or former employment at the company or a subsidiary within the past several years |
• | being, or representing, a shareholder with a substantial shareholding in the company |
• | interlocking directorships |
• | having any other interest, business or other relationship which could, or could reasonably be perceived to, materially interfere with the director’s ability to act in the best interests of the company |
1) | publish a disclosure in line with industry-specific SASB guidelines by year-end, if they have not already done so, or disclose a similar set of data in a way that is relevant to their particular business; and |
2) | disclose climate-related risks in line with the TCFD’s recommendations, if they have not already done so. This should include the company’s plan for operating under a scenario where the Paris Agreement’s goal of limiting global warming to less than two degrees is fully realized, as expressed by the TCFD guidelines. |
• | The company has already taken sufficient steps to address the concern |
• | The company is in the process of actively implementing a response |
• | There is a clear and material economic disadvantage to the company in the near-term if the issue is not addressed in the manner requested by the shareholder proposal |
• | BlackRock clients who may be issuers of securities or proponents of shareholder resolutions |
• | BlackRock business partners or third parties who may be issuers of securities or proponents of shareholder resolutions |
• | BlackRock employees who may sit on the boards of public companies held in Funds managed by BlackRock |
• | Significant BlackRock, Inc. investors who may be issuers of securities held in Funds managed by BlackRock |
• | Securities of BlackRock, Inc. or BlackRock investment funds held in Funds managed by BlackRock |
• | BlackRock, Inc. board members who serve as senior executives of public companies held in Funds managed by BlackRock |
• | Adopted the Guidelines which are designed to protect and enhance the economic value of the companies in which BlackRock invests on behalf of clients. |
• | Established a reporting structure that separates BIS from employees with sales, vendor management or business partnership roles. In addition, BlackRock seeks to ensure that all engagements with corporate issuers, dissident shareholders or shareholder proponents are managed consistently and without regard to BlackRock’s relationship with such parties. Clients or business partners are not given special treatment or differentiated access to BIS. BIS prioritizes engagements based on factors including but not limited to our need for additional information to make a voting decision or our view on the likelihood that an engagement could lead to positive outcome(s) over time for the economic value of the company. Within the normal course of business, BIS may engage directly with BlackRock clients, business partners and/or third parties, and/or with employees with sales, vendor management or business partnership roles, in discussions regarding our approach to stewardship, general corporate governance matters, client reporting needs, and/or to otherwise ensure that proxy-related client service levels are met. |
• | Determined to engage, in certain instances, an independent fiduciary to vote proxies as a further safeguard to avoid potential conflicts of interest, to satisfy regulatory compliance requirements, or as may be otherwise required by applicable law. In such circumstances, the independent fiduciary provides BlackRock’s proxy voting agent with instructions, in accordance with the Guidelines, as to how to vote such proxies, and BlackRock’s proxy voting agent votes the proxy in accordance with the independent fiduciary’s determination. BlackRock uses an independent fiduciary to vote proxies of (i) any company that is affiliated with BlackRock, Inc., (ii) any public company that includes BlackRock employees on its board of directors, (iii) The PNC Financial Services Group, Inc., (iv) any public company of which a BlackRock, Inc. board member serves as a senior executive, and (v) companies when legal or regulatory requirements compel BlackRock to use an independent fiduciary. In selecting an independent fiduciary, we assess several characteristics, including but not limited to: independence, an ability to analyze proxy issues and vote in the best economic interest of our clients, reputation for reliability and integrity, and operational capacity to accurately deliver the assigned votes in a timely manner. We may engage more than one independent fiduciary, in part in order to mitigate potential or perceived conflicts of interest at an independent fiduciary. The Global Committee appoints and reviews the performance of the independent fiduciar(ies), generally on an annual basis. |
Contents | |
Introduction | A-16 |
Voting guidelines | A-16 |
Boards and directors | A-16 |
- Director elections | A-16 |
- Independence | A-16 |
- Oversight | A-17 |
- Responsiveness to shareholders | A-17 |
- Shareholder rights | A-17 |
- Board composition and effectiveness | A-18 |
- Board size | A-19 |
- CEO and management succession planning | A-19 |
- Classified board of directors / staggered terms | A-19 |
- Contested director elections | A-19 |
- Cumulative voting | A-19 |
- Director compensation and equity programs | A-19 |
- Majority vote requirements | A-19 |
- Risk oversight | A-20 |
- Separation of chairman and CEO | A-20 |
Auditors and audit-related issues | A-20 |
Capital structure proposals | A-21 |
- Equal voting rights | A-21 |
- Blank check preferred stock | A-21 |
- Increase in authorized common shares | A-21 |
- Increase or issuance of preferred stock | A-21 |
- Stock splits | A-22 |
Mergers, asset sales, and other special transactions | A-22 |
- Poison pill plans | A-22 |
- Reimbursement of expenses for successful shareholder campaigns | A-22 |
Executive Compensation | A-22 |
- Advisory resolutions on executive compensation (“Say on Pay”) | A-23 |
- Advisory votes on the frequency of Say on Pay resolutions | A-23 |
- Claw back proposals | A-23 |
- Employee stock purchase plans | A-23 |
- Equity compensation plans | A-23 |
- Golden parachutes | A-23 |
- Option exchanges | A-24 |
- Pay-for-Performance plans | A-24 |
- Supplemental executive retirement plans | A-24 |
Environmental and social issues | A-24 |
- Climate risk | A-25 |
- Corporate political activities | A-26 |
General corporate governance matters | A-26 |
- Adjourn meeting to solicit additional votes | A-26 |
- Bundled proposals | A-26 |
- Exclusive forum provisions | A-26 |
- Multi-jurisdictional companies | A-26 |
- Other business | A-27 |
- Reincorporation | A-27 |
- IPO governance | A-27 |
Contents | |
Shareholder Protections | A-27 |
- Amendment to charter / articles / bylaws | A-27 |
- Proxy access | A-28 |
- Right to act by written consent | A-28 |
- Right to call a special meeting | A-28 |
- Simple majority voting | A-28 |
• | Boards and directors |
• | Auditors and audit-related issues |
• | Capital structure |
• | Mergers, asset sales, and other special transactions |
• | Executive compensation |
• | Environmental and social issues |
• | General corporate governance matters |
• | Shareholder protections |
• | Employment as a senior executive by the company or a subsidiary within the past five years |
• | An equity ownership in the company in excess of 20% |
• | Having any other interest, business, or relationship which could, or could reasonably be perceived to, materially interfere with the director’s ability to act in the best interests of the company |
• | Where the board has failed to exercise oversight with regard to accounting practices or audit oversight, we will consider voting against the current audit committee, and any other members of the board who may be responsible. For example, this may apply to members of the audit committee during a period when the board failed to facilitate quality, independent auditing if substantial accounting irregularities suggest insufficient oversight by that committee |
• | Members of the compensation committee during a period in which executive compensation appears excessive relative to performance and peers, and where we believe the compensation committee has not already substantially addressed this issue |
• | The chair of the nominating / governance committee, or where no chair exists, the nominating / governance committee member with the longest tenure, where the board is not comprised of a majority of independent directors. However, this would not apply in the case of a controlled company |
• | Where it appears the director has acted (at the company or at other companies) in a manner that compromises his / her reliability to represent the best long-term economic interests of shareholders |
• | Where a director has a pattern of poor attendance at combined board and applicable key committee meetings. Excluding exigent circumstances, BlackRock generally considers attendance at less than 75% of the combined board and applicable key committee meetings by a board member to be poor attendance |
• | Where a director serves on an excess number of boards, which may limit his / her capacity to focus on each board’s requirements. The following illustrates the maximum number of boards on which a director may serve, before he / she is considered to be over-committed: |
Public
Company CEO |
#
Outside
Public Boards* |
Total
# of
Public Boards |
|||
Director A | x | 1 | 2 | ||
Director B | 3 | 4 |
* | In addition to the company under review |
• | The independent chair or lead independent director, members of the nominating / governance committee, and / or the longest tenured director(s), where we observe a lack of board responsiveness to shareholders, evidence of board entrenchment, and / or failure to promote adequate board succession planning |
• | The chair of the nominating / governance committee, or where no chair exists, the nominating / governance committee member with the longest tenure, where board member(s) at the most recent election of directors have received withhold votes from more than 30% of shares voted and the board has not taken appropriate action to respond to shareholder concerns. This may not apply in cases where BlackRock did not support the initial withhold vote |
• | The independent chair or lead independent director and / or members of the nominating / governance committee, where a board fails to implement shareholder proposals that receive a majority of votes cast at a prior shareholder meeting, and the proposals, in our view, have a direct and substantial impact on shareholders’ fundamental rights or long-term economic interests |
• | The independent chair or lead independent director and members of the governance committee, where a board implements or renews a poison pill without shareholder approval |
• | The independent chair or lead independent director and members of the governance committee, where a board amends the charter / articles / bylaws such that the effect may be to entrench directors or to significantly reduce shareholder rights |
• | Members of the compensation committee where the company has repriced options without shareholder approval |
• | If a board maintains a classified structure, it is possible that the director(s) with whom we have a particular concern may not be subject to election in the year that the concern arises. In such situations, if we have a concern regarding a committee or committee chair that is not up for re-election, we will generally register our concern by withholding votes from all available members of the relevant committee |
• | The mix of competencies, experience, and other qualities required to effectively oversee and guide management in light of the stated long-term strategy of the company |
• | The process by which candidates are identified and selected, including whether professional firms or other sources outside of incumbent directors’ networks have been engaged to identify and / or assess candidates |
• | The process by which boards evaluate themselves and any significant outcomes of the evaluation process, without divulging inappropriate and / or sensitive details |
• | The consideration given to board diversity, including, but not limited to, gender, ethnicity, race, age, experience, geographic location, skills, and perspective in the nomination process |
Combined
Chair / CEO Model |
Separate
Chair Model |
||||
Chair / CEO | Lead Director | Chair | |||
Board Meetings | Authority to call full meetings of the board of directors |
Attends
full meetings of the board of directors
Authority to call meetings of independent directors Briefs CEO on issues arising from executive sessions |
Authority to call full meetings of the board of directors | ||
Agenda | Primary responsibility for shaping board agendas, consulting with the lead director | Collaborates with chair / CEO to set board agenda and board information | Primary responsibility for shaping board agendas, in conjunction with CEO | ||
Board Communications | Communicates with all directors on key issues and concerns outside of full board meetings | Facilitates discussion among independent directors on key issues and concerns outside of full board meetings, including contributing to the oversight of CEO and management succession planning | Facilitates discussion among independent directors on key issues and concerns outside of full board meetings, including contributing to the oversight of CEO and management succession planning |
• | Appears to have a legitimate financing motive for requesting blank check authority |
• | Has committed publicly that blank check preferred shares will not be used for anti-takeover purposes |
• | Has a history of using blank check preferred stock for financings |
• | Has blank check preferred stock previously outstanding such that an increase would not necessarily provide further anti-takeover protection but may provide greater financing flexibility |
• | The degree to which the proposed transaction represents a premium to the company’s trading price. We consider the share price over multiple time periods prior to the date of the merger announcement. In most cases, business combinations should provide a premium. We may consider comparable transaction analyses provided by the parties’ financial advisors and our own valuation assessments. For companies facing insolvency or bankruptcy, a premium may not apply |
• | There should be clear strategic, operational, and / or financial rationale for the combination |
• | Unanimous board approval and arm’s-length negotiations are preferred. We will consider whether the transaction involves a dissenting board or does not appear to be the result of an arm’s-length bidding process. We may also consider whether executive and / or board members’ financial interests in a given transaction appear likely to affect their ability to place shareholders’ interests before their own |
• | We prefer transaction proposals that include the fairness opinion of a reputable financial advisor assessing the value of the transaction to shareholders in comparison to recent similar transactions |
• | Whether we believe that the triggering event is in the best interest of shareholders |
• | Whether management attempted to maximize shareholder value in the triggering event |
• | The percentage of total premium or transaction value that will be transferred to the management team, rather than shareholders, as a result of the golden parachute payment |
• | Whether excessively large excise tax gross-up payments are part of the pay-out |
• | Whether the pay package that serves as the basis for calculating the golden parachute payment was reasonable in light of performance and peers |
• | Whether the golden parachute payment will have the effect of rewarding a management team that has failed to effectively manage the company |
• | The company has experienced significant stock price decline as a result of macroeconomic trends, not individual company performance |
• | Directors and executive officers are excluded; the exchange is value neutral or value creative to shareholders; tax, accounting, and other technical considerations have been fully contemplated |
• | There is clear evidence that absent repricing, the company will suffer serious employee incentive or retention and recruiting problems |
• | Publish disclosures in line with industry specific SASB guidelines by year-end, if they have not already done so, or disclose a similar set of data in a way that is relevant to their particular business; and |
• | Disclose climate-related risks in line with the TCFD’s recommendations, if they have not already done so. This should include the company’s plan for operating under a scenario where the Paris Agreement’s goal of limiting global warming to less than two degrees is fully realized, as expressed by the TCFD guidelines. |
• | See our commentary on our approach to engagement on TCFD and SASB aligned reporting for greater detail of our expectations. |
• | The company has already taken sufficient steps to address the concern |
• | The company is in the process of actively implementing a response |
• | There is a clear and material economic disadvantage to the company in the near-term if the issue is not addressed in the manner requested by the shareholder proposal |
Fund | Ticker | Listing Exchange | ||
iShares Russell 2500 ETF (the “Fund”) | SMMD | Cboe BZX |
• | stocks must trade at or above $1.00 on the last business day of August to be eligible for inclusion. If a stock in the index has a price lower than $1, it can remain in the index if the average price for the month is greater than $1; |
• | for ranking and membership determination, all common share classes for a single company are combined to determine total market capitalization; |
• | in cases where there are multiple common stock share classes and the share classes act independently of each other, each class is considered for inclusion separately; and |
• | also excluded are preferred and convertible preferred stock, participating preferred stock, redeemable shares, warrants and rights, trust receipts, royalty trusts, limited liability issuers, OTC bulletin boards and pink sheet stocks, mutual funds, limited partnerships, and foreign stocks. |
1. | Concentrate its investments in a particular industry, as that term is used in the Investment Company Act, except that the Fund will concentrate to approximately the same extent that its Underlying Index concentrates in the securities of a particular industry or group of industries. |
2. | Borrow money, except as permitted under the Investment Company Act. |
3. | Issue senior securities to the extent such issuance would violate the Investment Company Act. |
4. | Purchase or hold real estate, except the Fund may purchase and hold securities or other instruments that are secured by, or linked to, real estate or interests therein, securities of REITs, mortgage-related securities and securities of issuers engaged in the real estate business, and the Fund may purchase and hold real estate as a result of the ownership of securities or other instruments. |
5. | Underwrite securities issued by others, except to the extent that the sale of portfolio securities by the Fund may be deemed to be an underwriting or as otherwise permitted by applicable law. |
6. | Purchase or sell commodities or commodity contracts, except as permitted by the Investment Company Act. |
7. | Make loans to the extent prohibited by the Investment Company Act. |
Name (Age) | Position |
Principal
Occupation(s)
During the Past 5 Years |
Other
Directorships
Held by Trustee |
|||
Robert
S. Kapito1
(63) |
Trustee
(since 2009). |
President, BlackRock, Inc. (since 2006); Vice Chairman of BlackRock, Inc. and Head of BlackRock’s Portfolio Management Group (since its formation in 1998) and BlackRock, Inc.’s predecessor entities (since 1988); Trustee, University of Pennsylvania (since 2009); President of Board of Directors, Hope & Heroes Children’s Cancer Fund (since 2002). | Director of BlackRock, Inc. (since 2006); Director of iShares, Inc. (since 2009); Trustee of iShares U.S. ETF Trust (since 2011). | |||
Salim
Ramji2
(50) |
Trustee (since 2019). | Senior Managing Director, BlackRock, Inc. (since 2014); Global Head of BlackRock’s ETF and Index Investments Business (since 2019); Head of BlackRock’s U.S. Wealth Advisory Business (2015-2019); Global Head of Corporate Strategy, BlackRock, Inc. (2014-2015); Senior Partner, McKinsey & Company (2010-2014). | Director of iShares, Inc. (since 2019); Trustee of iShares U.S. ETF Trust (since 2019). |
1 | Robert S. Kapito is deemed to be an “interested person” (as defined in the 1940 Act) of the Trust due to his affiliations with BlackRock, Inc. and its affiliates. |
2 | Salim Ramji is deemed to be an “interested person” (as defined in the 1940 Act) of the Trust due to his affiliations with BlackRock, Inc. and its affiliates. |
Name (Age) | Position |
Principal
Occupation(s)
During the Past 5 Years |
Other
Directorships
Held by Trustee |
|||
Cecilia
H. Herbert
(71) |
Trustee
(since 2005); Independent Board Chair (since 2016). |
Chair
of the Finance Committee (since 2019) and Trustee and Member of the Finance, Audit and Quality Committees of Stanford Health Care (since 2016); Trustee of WNET, New York's public media company (since 2011) and Member of the Audit Committee (since
2018) and Investment Committee (since 2011); Chair (1994-2005) and Member (since 1992) of the Investment Committee, Archdiocese of San Francisco; Trustee of Forward Funds (14 portfolios) (2009-2018); Trustee of Salient MF Trust (4 portfolios)
(2015-2018); Director (1998-2013) and President (2007-2011) of the Board of Directors, Catholic Charities CYO; Trustee (2002-2011) and Chair of the Finance and Investment Committee (2006-2010) of the Thacher
School.
|
Director of iShares, Inc. (since 2005); Trustee of iShares U.S. ETF Trust (since 2011); Independent Board Chair of iShares, Inc. and iShares U.S. ETF Trust (since 2016); Trustee of Thrivent Church Loan and Income Fund (since 2019). | |||
Jane
D. Carlin
(64) |
Trustee
(since 2015); Risk Committee Chair (since 2016). |
Consultant (since 2012); Member of the Audit Committee (2012-2018), Chair of the Nominating and Governance Committee (2017-2018) and Director of PHH Corporation (mortgage solutions) (2012-2018); Managing Director and Global Head of Financial Holding Company Governance & Assurance and the Global Head of Operational Risk Management of Morgan Stanley (2006-2012). | Director of iShares, Inc. (since 2015); Trustee of iShares U.S. ETF Trust (since 2015); Member of the Audit Committee (since 2016) and Director of The Hanover Insurance Group, Inc. (since 2016). | |||
Richard
L. Fagnani
(65) |
Trustee
(since 2017); Audit Committee Chair (since 2019). |
Partner, KPMG LLP (2002-2016). | Director of iShares, Inc. (since 2017); Trustee of iShares U.S. ETF Trust (since 2017). | |||
John
E. Kerrigan
(65) |
Trustee
(since 2005); Nominating and Governance and Equity Plus Committee Chairs (since 2019). |
Chief Investment Officer, Santa Clara University (since 2002). | Director of iShares, Inc. (since 2005); Trustee of iShares U.S. ETF Trust (since 2011). |
Name (Age) | Position |
Principal
Occupation(s)
During the Past 5 Years |
Other
Directorships
Held by Trustee |
|||
Drew
E. Lawton
(61) |
Trustee
(since 2017); 15(c) Committee Chair (since 2017). |
Senior Managing Director of New York Life Insurance Company (2010-2015). | Director of iShares, Inc. (since 2017); Trustee of iShares U.S. ETF Trust (since 2017). | |||
John
E. Martinez
(59) |
Trustee
(since 2003); Securities Lending Committee Chair (since 2019). |
Director of Real Estate Equity Exchange, Inc. (since 2005); Director of Cloudera Foundation (since 2017); and Director of Reading Partners (2012-2016). | Director of iShares, Inc. (since 2003); Trustee of iShares U.S. ETF Trust (since 2011). | |||
Madhav
V. Rajan
(55) |
Trustee
(since 2011); Fixed Income Plus Committee Chair (since 2019). |
Dean, and George Pratt Shultz Professor of Accounting, University of Chicago Booth School of Business (since 2017); Chair of the Board for the Center for Research in Security Prices, LLC (since 2020); Robert K. Jaedicke Professor of Accounting, Stanford University Graduate School of Business (2001-2017); Professor of Law (by courtesy), Stanford Law School (2005-2017); Senior Associate Dean for Academic Affairs and Head of MBA Program, Stanford University Graduate School of Business (2010-2016). |
Director
of iShares, Inc. (since 2011);
Trustee of iShares U.S. ETF Trust (since 2011). |
Name (Age) | Position |
Principal
Occupation(s)
During the Past 5 Years |
||
Armando
Senra
(49) |
President (since 2019). | Managing Director, BlackRock, Inc. (since 2007); Head of U.S., Canada and Latam iShares, BlackRock, Inc. (since 2019); Head of Latin America Region, BlackRock, Inc. (2006-2019); Managing Director, Bank of America Merrill Lynch (1994-2006). | ||
Trent
Walker
(46) |
Treasurer
and Chief Financial Officer
(since 2020). |
Managing Director of BlackRock, Inc. (since September 2019); Executive Vice President of PIMCO (2016-2019); Senior Vice President of PIMCO (2008-2015); Treasurer (2013-2019) and Assistant Treasurer (2007-2017) of PIMCO Funds, PIMCO Variable Insurance Trust, PIMCO ETF Trust, PIMCO Equity Series, PIMCO Equity Series VIT, PIMCO Managed Accounts Trust, 2 PIMCO-sponsored interval funds and 21 PIMCO-sponsored closed-end funds. |
Name (Age) | Position |
Principal
Occupation(s)
During the Past 5 Years |
||
Charles
Park
(52) |
Chief Compliance Officer (since 2006). | Chief Compliance Officer of BlackRock Advisors, LLC and the BlackRock-advised Funds in the Equity-Bond Complex, the Equity-Liquidity Complex and the Closed-End Complex (since 2014); Chief Compliance Officer of BFA (since 2006). | ||
Deepa
Damre
(45) |
Secretary (since 2019). | Managing Director, BlackRock, Inc. (since 2014); Director, BlackRock, Inc. (2009-2013). | ||
Scott
Radell
(51) |
Executive
Vice President
(since 2012). |
Managing Director, BlackRock, Inc. (since 2009); Head of Portfolio Solutions, BlackRock, Inc. (since 2009). | ||
Alan
Mason
(59) |
Executive
Vice President
(since 2016). |
Managing Director, BlackRock, Inc. (since 2009). | ||
Marybeth
Leithead
(57) |
Executive
Vice President
(since 2019). |
Managing Director, BlackRock, Inc. (since 2017); Chief Operating Officer of Americas iShares (since 2017); Portfolio Manager, Municipal Institutional & Wealth Management (2009-2016). |
Name | Fund |
Dollar
Range of Equity
Securities in Named Fund |
Aggregate
Dollar Range
of Equity Securities in all Registered Investment Companies Overseen by Trustee in Family of Investment Companies |
|||
Robert S. Kapito | None | None | None | |||
Salim Ramji | iShares Commodities Select Strategy ETF | $10,001-$50,000 | Over $100,000 | |||
iShares Core MSCI Emerging Markets ETF | Over $100,000 | |||||
iShares Core MSCI Total International Stock ETF | $1-$10,000 | |||||
iShares Core S&P 500 ETF | $1-$10,000 | |||||
iShares Core S&P Total U.S. Stock Market ETF | $1-$10,000 | |||||
iShares Expanded Tech Sector ETF | $1-$10,000 | |||||
iShares Expanded Tech-Software Sector ETF | $1-$10,000 | |||||
iShares MSCI USA ESG Select ETF | $1-$10,000 | |||||
iShares North American Natural Resources ETF | $10,001-$50,000 | |||||
iShares Robotics and Artificial Intelligence Multisector ETF | $1-$10,000 | |||||
iShares TIPS Bond ETF | $10,001-$50,000 | |||||
Cecilia H. Herbert | iShares California Muni Bond ETF | Over $100,000 | Over $100,000 | |||
iShares China Large-Cap ETF | $50,001-$100,000 | |||||
iShares Core Dividend Growth ETF | $50,001-$100,000 | |||||
iShares Core MSCI Emerging Markets ETF | $1-$10,000 | |||||
iShares Core MSCI Total International Stock ETF | $10,001-$50,000 | |||||
iShares Core S&P 500 ETF | Over $100,000 | |||||
iShares Core S&P U.S. Growth ETF | $50,001-$100,000 | |||||
iShares Core S&P U.S. Value ETF | $50,001-$100,000 | |||||
iShares iBoxx $ High Yield Corporate Bond ETF | $10,001-$50,000 | |||||
iShares International Select Dividend ETF | $1-$10,000 | |||||
iShares MSCI EAFE ETF | $1-$10,000 |
Name | Fund |
Dollar
Range of Equity
Securities in Named Fund |
Aggregate
Dollar Range
of Equity Securities in all Registered Investment Companies Overseen by Trustee in Family of Investment Companies |
|||
iShares MSCI Japan ETF | $10,001-$50,000 | |||||
iShares National Muni Bond ETF | $10,001-$50,000 | |||||
iShares Preferred and Income Securities ETF | $10,001-$50,000 | |||||
Jane D. Carlin | iShares 1-3 Year Treasury Bond ETF | $50,001-$100,000 | Over $100,000 | |||
iShares Core MSCI Emerging Markets ETF | $10,001-$50,000 | |||||
iShares Core MSCI Total International Stock ETF | Over $100,000 | |||||
iShares Core S&P Mid-Cap ETF | $10,001-$50,000 | |||||
iShares Core S&P Small-Cap ETF | Over $100,000 | |||||
iShares Core U.S. Aggregate Bond ETF | Over $100,000 | |||||
iShares Edge MSCI Min Vol USA ETF | $50,001-$100,000 | |||||
iShares Global Tech ETF | $10,001-$50,000 | |||||
iShares MSCI ACWI ETF | Over $100,000 | |||||
iShares MSCI ACWI ex U.S. ETF | $50,001-$100,000 | |||||
iShares MSCI EAFE Small-Cap ETF | $10,001-$50,000 | |||||
iShares MSCI Emerging Markets Small-Cap ETF | $10,001-$50,000 | |||||
iShares Select Dividend ETF | $10,001-$50,000 | |||||
iShares Ultra Short-Term Bond ETF | Over $100,000 | |||||
Richard L. Fagnani | iShares Core MSCI EAFE ETF | $10,001-$50,000 | Over $100,000 | |||
iShares Core S&P 500 ETF | $10,001-$50,000 | |||||
iShares Core S&P Small-Cap ETF | $10,001-$50,000 | |||||
iShares Edge MSCI Multifactor Emerging Markets ETF | $10,001-$50,000 | |||||
iShares Edge MSCI USA Value Factor ETF | $10,001-$50,000 | |||||
iShares Exponential Technologies ETF | $10,001-$50,000 | |||||
iShares Global Clean Energy ETF | $10,001-$50,000 | |||||
iShares MSCI EAFE Value ETF | $10,001-$50,000 | |||||
iShares MSCI Emerging Markets Small-Cap ETF | $10,001-$50,000 | |||||
iShares Robotics and Artificial Intelligence Multisector ETF | $10,001-$50,000 | |||||
iShares S&P Small-Cap 600 Value ETF | $10,001-$50,000 | |||||
iShares Select Dividend ETF | $10,001-$50,000 | |||||
iShares U.S. Financials ETF | $10,001-$50,000 | |||||
John E. Kerrigan | iShares MSCI ACWI ex U.S. ETF | Over $100,000 | Over $100,000 | |||
Name | Fund |
Dollar
Range of Equity
Securities in Named Fund |
Aggregate
Dollar Range
of Equity Securities in all Registered Investment Companies Overseen by Trustee in Family of Investment Companies |
|||
Drew E. Lawton | iShares 0-5 Year High Yield Corporate Bond ETF | Over $100,000 | Over $100,000 | |||
iShares Core Dividend Growth ETF | $50,001-$100,000 | |||||
iShares Core MSCI Total International Stock ETF | $50,001-$100,000 | |||||
iShares Core S&P Total U.S. Stock Market ETF | Over $100,000 | |||||
iShares Exponential Technologies ETF | Over $100,000 | |||||
iShares MSCI Frontier 100 ETF | $1-$10,000 | |||||
iShares Nasdaq Biotechnology ETF | $50,001-$100,000 | |||||
iShares Short Maturity Bond ETF | Over $100,000 | |||||
iShares Ultra Short-Term Bond ETF | Over $100,000 | |||||
John E. Martinez | iShares Core 5-10 Year USD Bond ETF | Over $100,000 | Over $100,000 | |||
iShares Core International Aggregate Bond ETF | Over $100,000 | |||||
iShares Global Consumer Staples ETF | Over $100,000 | |||||
iShares Interest Rate Hedged Long-Term Corporate Bond ETF | Over $100,000 | |||||
iShares Intermediate-Term Corporate Bond ETF | Over $100,000 | |||||
iShares MSCI EAFE ETF | Over $100,000 | |||||
iShares Russell 1000 ETF | Over $100,000 | |||||
iShares Russell 1000 Value ETF | Over $100,000 | |||||
iShares Russell 2000 ETF | Over $100,000 | |||||
Madhav V. Rajan | iShares Broad USD High Yield Corporate Bond ETF | Over $100,000 | Over $100,000 | |||
iShares Core Dividend Growth ETF | Over $100,000 | |||||
iShares Core High Dividend ETF | Over $100,000 | |||||
iShares Core MSCI EAFE ETF | Over $100,000 | |||||
iShares Core S&P 500 ETF | Over $100,000 | |||||
iShares Mortgage Real Estate ETF | Over $100,000 | |||||
iShares Preferred and Income Securities ETF | Over $100,000 | |||||
iShares Russell 2000 ETF | Over $100,000 | |||||
iShares Select Dividend ETF | Over $100,000 | |||||
iShares Short-Term Corporate Bond ETF | Over $100,000 | |||||
iShares Short Maturity Bond ETF | Over $100,000 | |||||
iShares Ultra Short-Term Bond ETF | Over $100,000 |
Name | iShares Russell 2500 ETF |
Pension
or
Retirement Benefits Accrued As Part of Trust Expenses1 |
Estimated
Annual
Benefits Upon Retirement1 |
Total
Compensation From the Fund and Fund Complex2 |
||||
Independent Trustee: | ||||||||
Jane D. Carlin | $ 15 | Not Applicable | Not Applicable | $ 395,000 | ||||
Richard L. Fagnani | 17 | Not Applicable | Not Applicable | 421,764 | ||||
Cecilia H. Herbert | 18 | Not Applicable | Not Applicable | 450,000 | ||||
John E. Kerrigan | 17 | Not Applicable | Not Applicable | 420,000 | ||||
Drew E. Lawton | 16 | Not Applicable | Not Applicable | 406,764 | ||||
John E. Martinez | 16 | Not Applicable | Not Applicable | 395,000 | ||||
Madhav V. Rajan | 16 | Not Applicable | Not Applicable | 395,000 | ||||
Interested Trustee: | ||||||||
Robert S. Kapito | $ 0 | Not Applicable | Not Applicable | $0 | ||||
Salim Ramji3 | 0 | Not Applicable | Not Applicable | 0 | ||||
Mark K. Wiedman4 | 0 | Not Applicable | Not Applicable | 0 |
1 | No Trustee or officer is entitled to any pension or retirement benefits from the Trust. |
2 | Also includes compensation for service on the Board of Trustees of iShares U.S. ETF Trust and the Board of Directors of iShares, Inc. |
3 | Appointed to serve as an Interested Trustee effective June 19, 2019. |
4 | Served as an Interested Trustee through June 19, 2019. |
Name |
Percentage
of Ownership |
|
National
Financial Services LLC
499 Washington Blvd Jersey City, NJ 07310 |
45.02% |
Name |
Percentage
of Ownership |
|
Charles
Schwab & Co., Inc.
101 Montgomery Street San Francisco, CA 94014 |
9.89% | |
U.S.
Bank N.A.
1555 North Rivercenter Dr. Suite 302 Milwaukee, WI 53212 |
8.42% | |
Merrill
Lynch, Pierce, Fenner & Smith Incorporated - TS Sub
101 Hudson Street 9th Floor Jersey City, NJ 07302-3997 |
7.42% |
Management
Fee for Fiscal Year Ended March 31, 20201 |
Fund
Inception Date |
Management
Fees Paid Net of Waivers for Fiscal Year Ended March 31, 2020 |
Management
Fees Paid Net of Waivers for Fiscal Year Ended March 31, 2019 |
Management
Fees Paid Net of Waivers for Fiscal Year Ended March 31, 2018 |
||||
0.15% | 07/06/17 | $26,937 | $12,098 | $2,155 |
1 | BFA has contractually agreed to waive a portion of its management fees in an amount equal to the acquired fund fees and expenses, if any, attributable to the Fund's investment in other series of the Trust and iShares, Inc., provided that the waiver be no greater than the Fund’s management fee of 0.15%, through July 31, 2022. The contractual waiver may be terminated prior to July 31, 2022 only upon written agreement of the Trust and BFA. For the fiscal years ended March 31, 2020, March 31, 2019 and March 31, 2018, BFA waived $ 31,851, $16,257 and $2,815 of management fees, respectively. |
Rachel Aguirre | ||||
Types of Accounts | Number | Total Assets | ||
Registered Investment Companies | 318 | $1,057,939,000,000 | ||
Other Pooled Investment Vehicles | 150 | 512,873,000,000 | ||
Other Accounts | 123 | 440,978,000,000 |
Jennifer Hsui | ||||
Types of Accounts | Number | Total Assets | ||
Registered Investment Companies | 298 | $1,030,489,000,000 | ||
Other Pooled Investment Vehicles | 58 | 60,271,000,000 | ||
Other Accounts | 32 | 20,303,000,000 |
Alan Mason | ||||
Types of Accounts | Number | Total Assets | ||
Registered Investment Companies | 334 | $1,062,202,000,000 | ||
Other Pooled Investment Vehicles | 0 | N/A | ||
Other Accounts | 2 | 636,000,000 |
Greg Savage | ||||
Types of Accounts | Number | Total Assets | ||
Registered Investment Companies | 317 | $1,035,357,000,000 | ||
Other Pooled Investment Vehicles | 30 | 1,398,000,000 | ||
Other Accounts | 61 | 4,888,000,000 |
Amy Whitelaw | ||||
Types of Accounts | Number | Total Assets | ||
Registered Investment Companies | 291 | $996,032,000,000 | ||
Other Pooled Investment Vehicles | 86 | 26,327,000,000 | ||
Other Accounts | 3 | 89,000,000 |
Rachel Aguirre | ||||
Types of Accounts |
Number
of Other Accounts
with Performance Fees Managed by Portfolio Manager |
Aggregate
of Total Assets |
||
Registered Investment Companies | 0 | N/A | ||
Other Pooled Investment Vehicles | 0 | N/A | ||
Other Accounts | 0 | N/A |
Jennifer Hsui | ||||
Types of Accounts |
Number
of Other Accounts
with Performance Fees Managed by Portfolio Manager |
Aggregate
of Total Assets |
||
Registered Investment Companies | 0 | N/A | ||
Other Pooled Investment Vehicles | 0 | N/A | ||
Other Accounts | 0 | N/A |
Alan Mason | ||||
Types of Accounts |
Number
of Other Accounts
with Performance Fees Managed by Portfolio Manager |
Aggregate
of Total Assets |
||
Registered Investment Companies | 0 | N/A | ||
Other Pooled Investment Vehicles | 0 | N/A | ||
Other Accounts | 0 | N/A |
Greg Savage | ||||
Types of Accounts |
Number
of Other Accounts
with Performance Fees Managed by Portfolio Manager |
Aggregate
of Total Assets |
||
Registered Investment Companies | 0 | N/A | ||
Other Pooled Investment Vehicles | 0 | N/A | ||
Other Accounts | 0 | N/A |
Amy Whitelaw | ||||
Types of Accounts |
Number
of Other Accounts
with Performance Fees Managed by Portfolio Manager |
Aggregate
of Total Assets |
||
Registered Investment Companies | 0 | N/A | ||
Other Pooled Investment Vehicles | 0 | N/A | ||
Other Accounts | 0 | N/A |
Fund
Inception Date |
Custody,
Administration & Transfer Agency Expenses Paid During Fiscal Year Ended March 31, 2020 |
Custody,
Administration & Transfer Agency Expenses Paid During Fiscal Year Ended March 31, 2019 |
Custody,
Administration & Transfer Agency Expenses Paid During Fiscal Year Ended March 31, 2018 |
|||
07/06/17 | $24,813 | $24,377 | $7,429 |
Fund |
iShares
Russell
2500 ETF |
Gross
income from
securities lending activities |
$196,290 |
Fees
and/or compensation
for securities lending activities and related services |
|
Securities
lending
income paid to BTC for services as securities lending agent |
12,977 |
Cash
collateral
management expenses not included in securities lending income paid to BTC |
3,381 |
Administrative
fees not
included in securities lending income paid to BTC |
0 |
Fund |
iShares
Russell
2500 ETF |
Indemnification
fees not
included in securities lending income paid to BTC |
0 |
Rebates
(paid to
borrowers) |
140,850 |
Other
fees not
included in securities lending income paid to BTC |
0 |
Aggregate
fees/compensation for securities lending activities |
$ 157,208 |
Net
income from securities
lending activities |
$ 39,082 |
Fund
Inception Date |
Brokerage
Commissions Paid During Fiscal Year Ended March 31, 2020 |
Brokerage
Commissions Paid During Fiscal Year Ended March 31, 2019 |
Brokerage
Commissions Paid During Fiscal Year Ended March 31, 2018 |
|||
07/06/17 | $2,433 | $353 | $53 |
Fiscal Year Ended March 31, 2020 | Fiscal Year Ended March 31, 2019 | ||
14% | 12% |
Shares
Per
Creation Unit |
Approximate
Value Per Creation Unit (U.S.$) |
|
50,000 | $1,926,000 |
Standard
Creation
Transaction Fee |
Maximum
Additional
Charge* |
|
$1,400 | 3.0% |
* | As a percentage of the net asset value per Creation Unit. |
Standard
Redemption
Transaction Fee |
Maximum
Additional
Charge* |
|
$1,400 | 2.0% |
* | As a percentage of the net asset value per Creation Unit, inclusive of the standard redemption transaction fee. |
• | Boards and directors |
• | Auditors and audit-related issues |
• | Capital structure, mergers, asset sales and other special transactions |
• | Compensation and benefits |
• | Environmental and social issues |
• | General corporate governance matters and shareholder protections |
• | establishing an appropriate corporate governance structure |
• | supporting and overseeing management in setting long -term strategic goals, applicable measures of value-creation and milestones that will demonstrate progress, and steps taken if any obstacles are anticipated or incurred |
• | ensuring the integrity of financial statements |
• | making independent decisions regarding mergers, acquisitions and disposals |
• | establishing appropriate executive compensation structures |
• | addressing business issues, including environmental and social issues, when they have the potential to materially impact company reputation and performance |
• | current or former employment at the company or a subsidiary within the past several years |
• | being, or representing, a shareholder with a substantial shareholding in the company |
• | interlocking directorships |
• | having any other interest, business or other relationship which could, or could reasonably be perceived to, materially interfere with the director’s ability to act in the best interests of the company |
1) | publish a disclosure in line with industry-specific SASB guidelines by year-end, if they have not already done so, or disclose a similar set of data in a way that is relevant to their particular business; and |
2) | disclose climate-related risks in line with the TCFD’s recommendations, if they have not already done so. This should include the company’s plan for operating under a scenario where the Paris Agreement’s goal of limiting global warming to less than two degrees is fully realized, as expressed by the TCFD guidelines. |
• | The company has already taken sufficient steps to address the concern |
• | The company is in the process of actively implementing a response |
• | There is a clear and material economic disadvantage to the company in the near-term if the issue is not addressed in the manner requested by the shareholder proposal |
• | BlackRock clients who may be issuers of securities or proponents of shareholder resolutions |
• | BlackRock business partners or third parties who may be issuers of securities or proponents of shareholder resolutions |
• | BlackRock employees who may sit on the boards of public companies held in Funds managed by BlackRock |
• | Significant BlackRock, Inc. investors who may be issuers of securities held in Funds managed by BlackRock |
• | Securities of BlackRock, Inc. or BlackRock investment funds held in Funds managed by BlackRock |
• | BlackRock, Inc. board members who serve as senior executives of public companies held in Funds managed by BlackRock |
• | Adopted the Guidelines which are designed to protect and enhance the economic value of the companies in which BlackRock invests on behalf of clients. |
• | Established a reporting structure that separates BIS from employees with sales, vendor management or business partnership roles. In addition, BlackRock seeks to ensure that all engagements with corporate issuers, dissident shareholders or shareholder proponents are managed consistently and without regard to BlackRock’s relationship with such parties. Clients or business partners are not given special treatment or differentiated access to BIS. BIS prioritizes engagements based on factors including but not limited to our need for additional information to make a voting decision or our view on the likelihood that an engagement could lead to positive outcome(s) over time for the economic value of the company. Within the normal course of business, BIS may engage directly with BlackRock clients, business partners and/or third parties, and/or with employees with sales, vendor management or business partnership roles, in discussions regarding our approach to stewardship, general corporate governance matters, client reporting needs, and/or to otherwise ensure that proxy-related client service levels are met. |
• | Determined to engage, in certain instances, an independent fiduciary to vote proxies as a further safeguard to avoid potential conflicts of interest, to satisfy regulatory compliance requirements, or as may be otherwise required by applicable law. In such circumstances, the independent fiduciary provides BlackRock’s proxy voting agent with instructions, in accordance with the Guidelines, as to how to vote such proxies, and BlackRock’s proxy voting agent votes the proxy in accordance with the independent fiduciary’s determination. BlackRock uses an independent fiduciary to vote proxies of (i) any company that is affiliated with BlackRock, Inc., (ii) any public company that includes BlackRock employees on its board of directors, (iii) The PNC Financial Services Group, Inc., (iv) any public company of which a BlackRock, Inc. board member serves as a senior executive, and (v) companies when legal or regulatory requirements compel BlackRock to use an independent fiduciary. In selecting an independent fiduciary, we assess several characteristics, including but not limited to: independence, an ability to analyze proxy issues and vote in the best economic interest of our clients, reputation for reliability and integrity, and operational capacity to accurately deliver the assigned votes in a timely manner. We may engage more than one independent fiduciary, in part in order to mitigate potential or perceived conflicts of interest at an independent fiduciary. The Global Committee appoints and reviews the performance of the independent fiduciar(ies), generally on an annual basis. |
Contents | |
Introduction | A-16 |
Voting guidelines | A-16 |
Boards and directors | A-16 |
- Director elections | A-16 |
- Independence | A-16 |
- Oversight | A-17 |
- Responsiveness to shareholders | A-17 |
- Shareholder rights | A-17 |
- Board composition and effectiveness | A-18 |
- Board size | A-19 |
- CEO and management succession planning | A-19 |
- Classified board of directors / staggered terms | A-19 |
- Contested director elections | A-19 |
- Cumulative voting | A-19 |
- Director compensation and equity programs | A-19 |
- Majority vote requirements | A-19 |
- Risk oversight | A-20 |
- Separation of chairman and CEO | A-20 |
Auditors and audit-related issues | A-20 |
Capital structure proposals | A-21 |
- Equal voting rights | A-21 |
- Blank check preferred stock | A-21 |
- Increase in authorized common shares | A-21 |
- Increase or issuance of preferred stock | A-21 |
- Stock splits | A-22 |
Mergers, asset sales, and other special transactions | A-22 |
- Poison pill plans | A-22 |
- Reimbursement of expenses for successful shareholder campaigns | A-22 |
Executive Compensation | A-22 |
- Advisory resolutions on executive compensation (“Say on Pay”) | A-23 |
- Advisory votes on the frequency of Say on Pay resolutions | A-23 |
- Claw back proposals | A-23 |
- Employee stock purchase plans | A-23 |
- Equity compensation plans | A-23 |
- Golden parachutes | A-23 |
- Option exchanges | A-24 |
- Pay-for-Performance plans | A-24 |
- Supplemental executive retirement plans | A-24 |
Environmental and social issues | A-24 |
- Climate risk | A-25 |
- Corporate political activities | A-26 |
General corporate governance matters | A-26 |
- Adjourn meeting to solicit additional votes | A-26 |
- Bundled proposals | A-26 |
- Exclusive forum provisions | A-26 |
- Multi-jurisdictional companies | A-26 |
- Other business | A-27 |
- Reincorporation | A-27 |
- IPO governance | A-27 |
Contents | |
Shareholder Protections | A-27 |
- Amendment to charter / articles / bylaws | A-27 |
- Proxy access | A-28 |
- Right to act by written consent | A-28 |
- Right to call a special meeting | A-28 |
- Simple majority voting | A-28 |
• | Boards and directors |
• | Auditors and audit-related issues |
• | Capital structure |
• | Mergers, asset sales, and other special transactions |
• | Executive compensation |
• | Environmental and social issues |
• | General corporate governance matters |
• | Shareholder protections |
• | Employment as a senior executive by the company or a subsidiary within the past five years |
• | An equity ownership in the company in excess of 20% |
• | Having any other interest, business, or relationship which could, or could reasonably be perceived to, materially interfere with the director’s ability to act in the best interests of the company |
• | Where the board has failed to exercise oversight with regard to accounting practices or audit oversight, we will consider voting against the current audit committee, and any other members of the board who may be responsible. For example, this may apply to members of the audit committee during a period when the board failed to facilitate quality, independent auditing if substantial accounting irregularities suggest insufficient oversight by that committee |
• | Members of the compensation committee during a period in which executive compensation appears excessive relative to performance and peers, and where we believe the compensation committee has not already substantially addressed this issue |
• | The chair of the nominating / governance committee, or where no chair exists, the nominating / governance committee member with the longest tenure, where the board is not comprised of a majority of independent directors. However, this would not apply in the case of a controlled company |
• | Where it appears the director has acted (at the company or at other companies) in a manner that compromises his / her reliability to represent the best long-term economic interests of shareholders |
• | Where a director has a pattern of poor attendance at combined board and applicable key committee meetings. Excluding exigent circumstances, BlackRock generally considers attendance at less than 75% of the combined board and applicable key committee meetings by a board member to be poor attendance |
• | Where a director serves on an excess number of boards, which may limit his / her capacity to focus on each board’s requirements. The following illustrates the maximum number of boards on which a director may serve, before he / she is considered to be over-committed: |
Public
Company CEO |
#
Outside
Public Boards* |
Total
# of
Public Boards |
|||
Director A | x | 1 | 2 | ||
Director B | 3 | 4 |
* | In addition to the company under review |
• | The independent chair or lead independent director, members of the nominating / governance committee, and / or the longest tenured director(s), where we observe a lack of board responsiveness to shareholders, evidence of board entrenchment, and / or failure to promote adequate board succession planning |
• | The chair of the nominating / governance committee, or where no chair exists, the nominating / governance committee member with the longest tenure, where board member(s) at the most recent election of directors have received withhold votes from more than 30% of shares voted and the board has not taken appropriate action to respond to shareholder concerns. This may not apply in cases where BlackRock did not support the initial withhold vote |
• | The independent chair or lead independent director and / or members of the nominating / governance committee, where a board fails to implement shareholder proposals that receive a majority of votes cast at a prior shareholder meeting, and the proposals, in our view, have a direct and substantial impact on shareholders’ fundamental rights or long-term economic interests |
• | The independent chair or lead independent director and members of the governance committee, where a board implements or renews a poison pill without shareholder approval |
• | The independent chair or lead independent director and members of the governance committee, where a board amends the charter / articles / bylaws such that the effect may be to entrench directors or to significantly reduce shareholder rights |
• | Members of the compensation committee where the company has repriced options without shareholder approval |
• | If a board maintains a classified structure, it is possible that the director(s) with whom we have a particular concern may not be subject to election in the year that the concern arises. In such situations, if we have a concern regarding a committee or committee chair that is not up for re-election, we will generally register our concern by withholding votes from all available members of the relevant committee |
• | The mix of competencies, experience, and other qualities required to effectively oversee and guide management in light of the stated long-term strategy of the company |
• | The process by which candidates are identified and selected, including whether professional firms or other sources outside of incumbent directors’ networks have been engaged to identify and / or assess candidates |
• | The process by which boards evaluate themselves and any significant outcomes of the evaluation process, without divulging inappropriate and / or sensitive details |
• | The consideration given to board diversity, including, but not limited to, gender, ethnicity, race, age, experience, geographic location, skills, and perspective in the nomination process |
Combined
Chair / CEO Model |
Separate
Chair Model |
||||
Chair / CEO | Lead Director | Chair | |||
Board Meetings | Authority to call full meetings of the board of directors |
Attends
full meetings of the board of directors
Authority to call meetings of independent directors Briefs CEO on issues arising from executive sessions |
Authority to call full meetings of the board of directors | ||
Agenda | Primary responsibility for shaping board agendas, consulting with the lead director | Collaborates with chair / CEO to set board agenda and board information | Primary responsibility for shaping board agendas, in conjunction with CEO | ||
Board Communications | Communicates with all directors on key issues and concerns outside of full board meetings | Facilitates discussion among independent directors on key issues and concerns outside of full board meetings, including contributing to the oversight of CEO and management succession planning | Facilitates discussion among independent directors on key issues and concerns outside of full board meetings, including contributing to the oversight of CEO and management succession planning |
• | Appears to have a legitimate financing motive for requesting blank check authority |
• | Has committed publicly that blank check preferred shares will not be used for anti-takeover purposes |
• | Has a history of using blank check preferred stock for financings |
• | Has blank check preferred stock previously outstanding such that an increase would not necessarily provide further anti-takeover protection but may provide greater financing flexibility |
• | The degree to which the proposed transaction represents a premium to the company’s trading price. We consider the share price over multiple time periods prior to the date of the merger announcement. In most cases, business combinations should provide a premium. We may consider comparable transaction analyses provided by the parties’ financial advisors and our own valuation assessments. For companies facing insolvency or bankruptcy, a premium may not apply |
• | There should be clear strategic, operational, and / or financial rationale for the combination |
• | Unanimous board approval and arm’s-length negotiations are preferred. We will consider whether the transaction involves a dissenting board or does not appear to be the result of an arm’s-length bidding process. We may also consider whether executive and / or board members’ financial interests in a given transaction appear likely to affect their ability to place shareholders’ interests before their own |
• | We prefer transaction proposals that include the fairness opinion of a reputable financial advisor assessing the value of the transaction to shareholders in comparison to recent similar transactions |
• | Whether we believe that the triggering event is in the best interest of shareholders |
• | Whether management attempted to maximize shareholder value in the triggering event |
• | The percentage of total premium or transaction value that will be transferred to the management team, rather than shareholders, as a result of the golden parachute payment |
• | Whether excessively large excise tax gross-up payments are part of the pay-out |
• | Whether the pay package that serves as the basis for calculating the golden parachute payment was reasonable in light of performance and peers |
• | Whether the golden parachute payment will have the effect of rewarding a management team that has failed to effectively manage the company |
• | The company has experienced significant stock price decline as a result of macroeconomic trends, not individual company performance |
• | Directors and executive officers are excluded; the exchange is value neutral or value creative to shareholders; tax, accounting, and other technical considerations have been fully contemplated |
• | There is clear evidence that absent repricing, the company will suffer serious employee incentive or retention and recruiting problems |
• | Publish disclosures in line with industry specific SASB guidelines by year-end, if they have not already done so, or disclose a similar set of data in a way that is relevant to their particular business; and |
• | Disclose climate-related risks in line with the TCFD’s recommendations, if they have not already done so. This should include the company’s plan for operating under a scenario where the Paris Agreement’s goal of limiting global warming to less than two degrees is fully realized, as expressed by the TCFD guidelines. |
• | See our commentary on our approach to engagement on TCFD and SASB aligned reporting for greater detail of our expectations. |
• | The company has already taken sufficient steps to address the concern |
• | The company is in the process of actively implementing a response |
• | There is a clear and material economic disadvantage to the company in the near-term if the issue is not addressed in the manner requested by the shareholder proposal |
Fund | Ticker | Listing Exchange | ||
iShares Core S&P 500 ETF | IVV | NYSE Arca | ||
iShares Core S&P Mid-Cap ETF | IJH | NYSE Arca | ||
iShares Core S&P Small-Cap ETF | IJR | NYSE Arca | ||
iShares Core S&P Total U.S. Stock Market ETF | ITOT | NYSE Arca | ||
iShares Core S&P U.S. Growth ETF | IUSG | NASDAQ | ||
iShares Core S&P U.S. Value ETF | IUSV | NASDAQ | ||
iShares Europe ETF | IEV | NYSE Arca | ||
iShares Expanded Tech Sector ETF | IGM | NYSE Arca | ||
iShares Expanded Tech-Software Sector ETF | IGV | Cboe BZX | ||
iShares Factors US Blend Style ETF | STLC | Cboe BZX | ||
iShares Factors US Growth Style ETF | STLG | Cboe BZX | ||
iShares Factors US Mid Blend Style ETF | STMB | Cboe BZX | ||
iShares Factors US Small Blend Style ETF | STSB | Cboe BZX | ||
iShares Factors US Value Style ETF | STLV | Cboe BZX | ||
iShares Focused Value Factor ETF | FOVL | NYSE Arca | ||
iShares Global 100 ETF | IOO | NYSE Arca | ||
iShares Global Clean Energy ETF | ICLN | NASDAQ | ||
iShares Global Comm Services ETF | IXP | NYSE Arca | ||
iShares Global Consumer Discretionary ETF | RXI | NYSE Arca | ||
iShares Global Consumer Staples ETF | KXI | NYSE Arca | ||
iShares Global Energy ETF | IXC | NYSE Arca | ||
iShares Global Financials ETF | IXG | NYSE Arca | ||
iShares Global Industrials ETF | EXI | NYSE Arca | ||
iShares Global Infrastructure ETF | IGF | NASDAQ | ||
iShares Global Utilities ETF | JXI | NYSE Arca | ||
iShares International Developed Property ETF | WPS | NYSE Arca | ||
iShares International Preferred Stock ETF | IPFF | Cboe BZX | ||
iShares JPX-Nikkei 400 ETF | JPXN | NYSE Arca | ||
iShares Micro-Cap ETF | IWC | NYSE Arca | ||
iShares Mortgage Real Estate ETF | REM | Cboe BZX | ||
iShares Nasdaq Biotechnology ETF | IBB | NASDAQ | ||
iShares North American Natural Resources ETF | IGE | Cboe BZX | ||
iShares North American Tech-Multimedia Networking ETF | IGN | NYSE Arca | ||
iShares PHLX Semiconductor ETF | SOXX | NASDAQ | ||
iShares Preferred and Income Securities ETF | PFF | NASDAQ | ||
iShares Residential Real Estate ETF | REZ | NYSE Arca | ||
iShares Russell 1000 ETF | IWB | NYSE Arca | ||
iShares Russell 1000 Growth ETF | IWF | NYSE Arca | ||
iShares Russell 1000 Pure U.S. Revenue ETF | AMCA | NASDAQ | ||
iShares Russell 1000 Value ETF | IWD | NYSE Arca | ||
iShares Russell 2000 ETF | IWM | NYSE Arca | ||
iShares Russell 2000 Growth ETF | IWO | NYSE Arca | ||
iShares Russell 2000 Value ETF | IWN | NYSE Arca |
Fund | Ticker | Listing Exchange | ||
iShares Russell 3000 ETF | IWV | NYSE Arca | ||
iShares Russell Mid-Cap ETF | IWR | NYSE Arca | ||
iShares Russell Mid-Cap Growth ETF | IWP | NYSE Arca | ||
iShares Russell Mid-Cap Value ETF | IWS | NYSE Arca | ||
iShares Russell Top 200 ETF | IWL | NYSE Arca | ||
iShares Russell Top 200 Growth ETF | IWY | NYSE Arca | ||
iShares Russell Top 200 Value ETF | IWX | NYSE Arca | ||
iShares S&P 100 ETF | OEF | NYSE Arca | ||
iShares S&P 500 Growth ETF | IVW | NYSE Arca | ||
iShares S&P 500 Value ETF | IVE | NYSE Arca | ||
iShares S&P Mid-Cap 400 Growth ETF | IJK | NYSE Arca | ||
iShares S&P Mid-Cap 400 Value ETF | IJJ | NYSE Arca | ||
iShares S&P Small-Cap 600 Growth ETF | IJT | NASDAQ | ||
iShares S&P Small-Cap 600 Value ETF | IJS | NYSE Arca | ||
iShares U.S. Aerospace & Defense ETF | ITA | Cboe BZX | ||
iShares U.S. Broker-Dealers & Securities Exchanges ETF | IAI | NYSE Arca | ||
iShares U.S. Healthcare Providers ETF | IHF | NYSE Arca | ||
iShares U.S. Home Construction ETF | ITB | Cboe BZX | ||
iShares U.S. Infrastructure ETF | IFRA | Cboe BZX | ||
iShares U.S. Insurance ETF | IAK | NYSE Arca | ||
iShares U.S. Medical Devices ETF | IHI | NYSE Arca | ||
iShares U.S. Oil & Gas Exploration & Production ETF | IEO | Cboe BZX | ||
iShares U.S. Oil Equipment & Services ETF | IEZ | NYSE Arca | ||
iShares U.S. Pharmaceuticals ETF | IHE | NYSE Arca | ||
iShares U.S. Real Estate ETF | IYR | NYSE Arca | ||
iShares U.S. Regional Banks ETF | IAT | NYSE Arca | ||
iShares U.S. Telecommunications ETF | IYZ | Cboe BZX |
• | iShares Core S&P 500 ETF |
• | iShares Core S&P Mid-Cap ETF |
• | iShares Core S&P Small-Cap ETF |
• | iShares Core S&P Total U.S. Stock Market ETF |
• | iShares Core S&P U.S. Growth ETF |
• | iShares Core S&P U.S. Value ETF |
• | iShares Europe ETF |
• | iShares Expanded Tech Sector ETF |
• | iShares Expanded Tech-Software Sector ETF |
• | iShares Factors US Blend Style ETF |
• | iShares Factors US Growth Style ETF |
• | iShares Factors US Mid Blend Style ETF |
• | iShares Factors US Small Blend Style ETF |
• | iShares Factors US Value Style ETF |
• | iShares Focused Value Factor ETF |
• | iShares Global 100 ETF |
• | iShares Global Clean Energy ETF |
• | iShares Global Comm Services ETF |
• | iShares Global Consumer Discretionary ETF1 |
• | iShares Global Consumer Staples ETF |
• | iShares Global Energy ETF |
• | iShares Global Financials ETF |
• | iShares Global Industrials ETF |
• | iShares Global Infrastructure ETF |
• | iShares Global Utilities ETF |
• | iShares International Developed Property ETF |
• | iShares International Preferred Stock ETF |
• | iShares JPX-Nikkei 400 ETF |
• | iShares Micro-Cap ETF |
• | iShares Mortgage Real Estate ETF |
• | iShares Nasdaq Biotechnology ETF |
• | iShares North American Natural Resources ETF |
• | iShares North American Tech-Multimedia Networking ETF |
• | iShares PHLX Semiconductor ETF |
• | iShares Preferred and Income Securities ETF2 |
• | iShares Residential Real Estate ETF |
• | iShares Russell 1000 ETF |
• | iShares Russell 1000 Growth ETF |
• | iShares Russell 1000 Pure U.S. Revenue ETF |
• | iShares Russell 1000 Value ETF |
• | iShares Russell 2000 ETF |
• | iShares Russell 2000 Growth ETF |
• | iShares Russell 2000 Value ETF |
• | iShares Russell 3000 ETF |
• | iShares Russell Mid-Cap ETF |
• | iShares Russell Mid-Cap Growth ETF |
• | iShares Russell Mid-Cap Value ETF |
• | iShares Russell Top 200 ETF |
• | iShares Russell Top 200 Growth ETF |
• | iShares Russell Top 200 Value ETF |
• | iShares S&P 100 ETF |
• | iShares S&P 500 Growth ETF |
• | iShares S&P 500 Value ETF |
• | iShares S&P Mid-Cap 400 Growth ETF |
• | iShares S&P Mid-Cap 400 Value ETF |
• | iShares S&P Small-Cap 600 Growth ETF |
• | iShares S&P Small-Cap 600 Value ETF |
• | iShares U.S. Aerospace & Defense ETF |
• | iShares U.S. Broker-Dealers & Securities Exchanges ETF |
• | iShares U.S. Healthcare Providers ETF |
• | iShares U.S. Home Construction ETF |
• | iShares U.S. Infrastructure ETF |
• | iShares U.S. Insurance ETF |
• | iShares U.S. Medical Devices ETF |
• | iShares U.S. Oil & Gas Exploration & Production ETF |
• | iShares U.S. Oil Equipment & Services ETF |
• | iShares U.S. Pharmaceuticals ETF |
• | iShares U.S. Real Estate ETF |
• | iShares U.S. Regional Banks ETF |
• | iShares U.S. Telecommunications ETF |
1 | On September 23, 2019, the name of the Fund's Underlying Index changed from the S&P Global 1200 Consumer Discretionary Index to the S&P Global 1200 Consumer Discretionary (Sector) Capped Index. |
2 | On November 1, 2019, the Fund’s underlying index changed from the ICE Exchange-Listed Preferred & Hybrid Securities Transition Index to the ICE Exchange-Listed Preferred & Hybrid Securities Index. |
Diversified Funds | Non-Diversified Funds | |
iShares Core S&P 500 ETF | iShares Expanded Tech Sector ETF | |
iShares Core S&P Mid-Cap ETF | iShares Expanded Tech-Software Sector ETF | |
iShares Core S&P Small-Cap ETF | iShares Factors US Blend Style ETF | |
iShares Core S&P Total U.S. Stock Market ETF | iShares Factors US Growth Style ETF | |
iShares Core S&P U.S. Growth ETF* | iShares Factors US Mid Blend Style ETF | |
iShares Core S&P U.S. Value ETF | iShares Factors US Small Blend Style ETF | |
iShares Europe ETF | iShares Factors US Value Style ETF | |
iShares Global 100 ETF* | iShares Focused Value Factor ETF | |
iShares Global Consumer Discretionary ETF | iShares Global Clean Energy ETF | |
iShares Global Consumer Staples ETF | iShares Global Comm Services ETF | |
iShares Global Financials ETF | iShares Global Energy ETF | |
iShares Global Industrials ETF | iShares International Preferred Stock ETF | |
iShares Global Infrastructure ETF | iShares Mortgage Real Estate ETF | |
iShares Global Utilities ETF | iShares Nasdaq Biotechnology ETF | |
iShares International Developed Property ETF | iShares North American Tech-Multimedia Networking ETF | |
iShares JPX-Nikkei 400 ETF | iShares PHLX Semiconductor ETF | |
iShares Micro-Cap ETF | iShares Residential Real Estate ETF | |
iShares North American Natural Resources ETF | iShares Russell 1000 Pure U.S. Revenue ETF | |
iShares Preferred and Income Securities ETF | iShares U.S. Aerospace & Defense ETF | |
iShares Russell 1000 ETF | iShares U.S. Broker-Dealers & Securities Exchanges ETF | |
iShares Russell 1000 Growth ETF* | iShares U.S. Healthcare Providers ETF | |
iShares Russell 1000 Value ETF | iShares U.S. Home Construction ETF | |
iShares Russell 2000 ETF | iShares U.S. Infrastructure ETF | |
iShares Russell 2000 Growth ETF | iShares U.S. Insurance ETF |
Diversified Funds | Non-Diversified Funds | |
iShares Russell 2000 Value ETF | iShares U.S. Medical Devices ETF | |
iShares Russell 3000 ETF | iShares U.S. Oil & Gas Exploration & Production ETF | |
iShares Russell Mid-Cap ETF | iShares U.S. Oil Equipment & Services ETF | |
iShares Russell Mid-Cap Growth ETF | iShares U.S. Pharmaceuticals ETF | |
iShares Russell Mid-Cap Value ETF | iShares U.S. Regional Banks ETF | |
iShares Russell Top 200 ETF | iShares U.S. Telecommunications ETF | |
iShares Russell Top 200 Growth ETF* | ||
iShares Russell Top 200 Value ETF | ||
iShares S&P 100 ETF* | ||
iShares S&P 500 Growth ETF* | ||
iShares S&P 500 Value ETF | ||
iShares S&P Mid-Cap 400 Growth ETF | ||
iShares S&P Mid-Cap 400 Value ETF | ||
iShares S&P Small-Cap 600 Growth ETF | ||
iShares S&P Small-Cap 600 Value ETF | ||
iShares U.S. Real Estate ETF |
* | The iShares Core S&P U.S. Growth ETF, iShares Global 100 ETF, iShares Russell 1000 Growth ETF, iShares Russell Top 200 Growth ETF, iShares S&P 100 ETF and iShares S&P 500 Growth ETF intend to be diversified in approximately the same proportion as their Underlying Indexes are diversified. The iShares Core S&P U.S. Growth ETF, iShares Global 100 ETF, iShares Russell 1000 Growth ETF, iShares Russell Top 200 Growth ETF, iShares S&P 100 ETF and iShares S&P 500 Growth ETF may become non-diversified, as defined in the 1940 Act, solely as a result of a change in relative market capitalization or index weighting of one or more constituents of their Underlying Indexes. Shareholder approval will not be sought if the iShares Core S&P U.S. Growth ETF, iShares Global 100 ETF, iShares Russell 1000 Growth ETF, iShares Russell Top 200 Growth ETF, iShares S&P 100 ETF or iShares S&P 500 Growth ETF crosses from diversified to non-diversified status due solely to a change in its relative market capitalization or index weighting of one or more constituents of its Underlying Index. The Funds disclose their portfolio holdings and weightings at www.iShares.com. |
• | No single Underlying Index component may have a weight greater than 22.5% of the Index. |
• | The sum of the weights of the Index components that are individually greater than 4.5% may not be greater than 45% of the Index. |
• | Underlying Index eligibility is limited to common stocks traded primarily on the New York Stock Exchange (“NYSE”), NYSE American and NASDAQ, excluding master limited partnerships (MLPs), royalty trusts, business development companies (BDCs), and American depository receipts (ADRs). |
• | Initial Public Offering (“IPO”) securities that have been trading for less than 3 months prior to the reconstitution day are excluded. |
• | The securities must have a minimum float-adjusted market capitalization of U.S. $300 million or greater, and three-month Average Daily Trading Value (“ADTV”) of U.S. $1 million or greater on selection day. |
• | The securities must be classified as having a focus (deriving 50% or more revenues) in one of the 95 infrastructure-related industries as defined by RBICS in either Category 1 or 2, where Category 1 companies are infrastructure enablers and Category 2 companies are infrastructure asset owners and operators. |
• | An eligible company must derive 50% or more of its annual revenues from the U.S. to be included in the Underlying Index. |
• | If a company has multiple share classes, only the most liquid issue based on the highest three-month ADTV on selection day will be included. |
• | Aggregate Adjusted Market Value/Divisor |
• | (Market Value after Adjustments/Market Value before Adjustments) X Divisor before Adjustments |
• | a security must be listed on NASDAQ, the NYSE, NYSE American, or the CBOE Exchange; |
• | the issuer of the security must be classified as a company whose primary business is involved in the design, distribution, manufacture, and sale of semiconductors under the Industry Classification Benchmark2 code 9576; |
• | one security per issuer is permitted. If an issuer has multiple securities, the security with the largest market capitalization will be selected for possible inclusion in the Underlying Index; |
• | the security must have a minimum market capitalization of at least $100 million; |
• | the security must have traded at least 1.5 million shares in each of the last six months; |
• | the security must have listed options on a recognized options market in the U.S. or be eligible for listed-options trading on a recognized options market in the U.S.; |
• | the security may not be issued by an issuer currently in bankruptcy proceedings; |
• | the issuer of the security may not have entered into a definitive agreement or other arrangement which would likely result in the security no longer being Index eligible; |
• | the issuer of the security may not have annual financial statements with an audit opinion that is currently withdrawn; and |
• | the issuer of the security must have been “seasoned” on a recognized market for at least 3 months. |
• | stocks must trade at or above $1.00 on the last business day of August to be eligible for inclusion. If a stock in the index has a price lower than $1, it can remain in the index if the average price for the month is greater than $1; |
• | for ranking and membership determination, all common share classes for a single company are combined to determine total market capitalization; |
• | in cases where there are multiple common stock share classes and the share classes act independently of each other, each class is considered for inclusion separately; and |
• | also excluded are preferred and convertible preferred stock, participating preferred stock, redeemable shares, warrants and rights, trust receipts, royalty trusts, limited liability issuers, OTC bulletin boards and pink sheet stocks, mutual funds, limited partnerships, and foreign stocks. |
• | The Underlying Index’s Composite Score is less than 80% of the Target Index’s Composite Score. |
• | The Underlying Index has fewer than 40 securities. |
• | The Underlying Index includes a security with weight greater than 20% of the Underlying Index. |
• | The largest 5 securities by weight in the Underlying Index have a weight that is greater than 50% of the Underlying Index. |
• | If a company has issued multiple lines of equity capital, only one eligible line is included. The eligible line is the line with the highest 252 days average daily dollar trading volume (“ADDTV”). A minimum of 200 days of daily observations are required to calculate ADDTV. If a line has missing ADDTV, the line is excluded. If all lines have no ADDTV, the line with the highest free float market cap is selected. |
• | Securities ranked within the top 10% highest risk or with missing data are excluded. Risk is defined as the 1 year trailing realized volatility of daily total returns. A minimum of 200 days of daily return observations are required to calculate volatility. |
• | Securities ranked within the top 10% highest leverage or with missing data are excluded. Leverage is defined as total debt to total assets sourced from third party data provider. |
• | Also excluded are preferred and convertible preferred stock, participating preferred stock, redeemable shares, warrants and rights, trust receipts, royalty trusts, limited liability issuers, OTC bulletin boards and pink sheet stocks, mutual funds, limited partnerships, and foreign stocks. |
1. | Concentrate its investments (i.e., hold 25% or more of its total assets in the stocks of a particular industry or group of industries), except that each Fund will concentrate to approximately the same extent that its Underlying Index concentrates in the stocks of such particular industry or group of industries. For purposes of this limitation, securities of the U.S. government (including its agencies and instrumentalities), repurchase agreements collateralized by U.S. government securities, and securities of state or municipal governments and their political subdivisions are not considered to be issued by members of any industry. |
2. | Borrow money, except that (i) each Fund may borrow from banks for temporary or emergency (not leveraging) purposes, including the meeting of redemption requests which might otherwise require the untimely disposition of securities, and (ii) each Fund may, to the extent consistent with its investment policies, enter into repurchase agreements, reverse repurchase agreements, forward roll transactions and similar investment strategies and techniques. To the extent that it engages in transactions described in (i) and (ii), each Fund will be limited so that no more than 33 1/3% of the value of its total assets (including the amount borrowed) is derived from such transactions. Any borrowings which come to exceed this amount will be reduced in accordance with applicable law. |
3. | Issue any senior security, except as permitted under the 1940 Act, as amended, and as interpreted, modified or otherwise permitted by regulatory authority having jurisdiction, from time to time. |
4. | Make loans, except as permitted under the 1940 Act, as amended, and as interpreted, modified or otherwise permitted by regulatory authority having jurisdiction, from time to time. |
5. | Purchase or sell real estate, real estate mortgages, commodities or commodity contracts, but this restriction shall not prevent each Fund from trading in futures contracts and options on futures contracts (including options on currencies to the extent consistent with each Fund’s investment objective and policies). |
6. | Engage in the business of underwriting securities issued by other persons, except to the extent that each Fund may technically be deemed to be an underwriter under the 1933 Act, in disposing of portfolio securities. |
1. | Concentrate its investments (i.e., hold 25% or more of its total assets in the stocks of a particular industry or group of industries), except that each Fund will concentrate to approximately the same extent that its Underlying Index concentrates in the stocks of such particular industry or group of industries. For purposes of this limitation, securities of the U.S. government (including its agencies and instrumentalities), repurchase agreements collateralized by U.S. government securities, and securities of state or municipal governments and their political subdivisions are not considered to be issued by members of any industry. |
2. | Borrow money, except that (i) each Fund may borrow from banks for temporary or emergency (not leveraging) purposes, including the meeting of redemption requests which might otherwise require the untimely disposition of securities, and (ii) each Fund may, to the extent consistent with its investment policies, enter into repurchase agreements, reverse repurchase agreements, forward roll transactions and similar investment strategies and techniques. To the extent that it engages in transactions described in (i) and (ii), each Fund will be limited so that no more than 33 1/3% of the value of its total assets (including the amount borrowed) is derived from such transactions. Any borrowings which come to exceed this amount will be reduced in accordance with applicable law. |
3. | Issue “senior securities” as defined in the 1940 Act and the rules, regulations and orders thereunder, except as permitted under the 1940 Act and the rules, regulations and orders thereunder. |
4. | Make loans. This restriction does not apply to: (i) the purchase of debt obligations in which each Fund may invest consistent with its investment objectives and policies; (ii) repurchase agreements and reverse repurchase agreements; and (iii) loans of its portfolio securities, to the fullest extent permitted under the 1940 Act. |
5. | Purchase or sell real estate, real estate mortgages, commodities or commodity contracts, but this restriction shall not prevent each Fund from trading in futures contracts and options on futures contracts (including options on currencies to the extent consistent with each Fund’s investment objective and policies). |
6. | Engage in the business of underwriting securities issued by other persons, except to the extent that each Fund may technically be deemed to be an underwriter under the 1933 Act in disposing of portfolio securities. |
1. | Concentrate its investments (i.e., hold 25% or more of its total assets in the stocks of a particular industry or group of industries), except that each Fund will concentrate to approximately the same extent that its Underlying Index concentrates in the stocks of such particular industry or group of industries. For purposes of this limitation, securities of the U.S. government (including its agencies and instrumentalities), repurchase agreements collateralized by U.S. |
government securities, and securities of state or municipal governments and their political subdivisions are not considered to be issued by members of any industry. | |
2. | Borrow money, except that (i) each Fund may borrow from banks for temporary or emergency (not leveraging) purposes, including the meeting of redemption requests which might otherwise require the untimely disposition of securities, and (ii) each Fund may, to the extent consistent with its investment policies, enter into repurchase agreements, reverse repurchase agreements, forward roll transactions and similar investment strategies and techniques. To the extent that it engages in transactions described in (i) and (ii), each Fund will be limited so that no more than 33 1/3% of the value of its total assets (including the amount borrowed) is derived from such transactions. Any borrowings which come to exceed this amount will be reduced in accordance with applicable law. |
3. | Issue any senior security, except as permitted under the 1940 Act, as amended, and as interpreted, modified or otherwise permitted by regulatory authority having jurisdiction, from time to time. |
4. | Make loans, except as permitted under the 1940 Act. |
5. | Purchase or sell real estate, real estate mortgages, commodities or commodity contracts, but this restriction shall not prevent each Fund from trading in futures contracts and options on futures contracts (including options on currencies to the extent consistent with each Fund’s investment objective and policies). |
6. | Engage in the business of underwriting securities issued by other persons, except to the extent that each Fund may technically be deemed to be an underwriter under the 1933 Act in disposing of portfolio securities. |
1. | Concentrate its investments (i.e., invest 25% or more of its total assets in the securities of a particular industry or group of industries), except that each Fund will concentrate to approximately the same extent that its Underlying Index concentrates in the securities of such particular industry or group of industries. For purposes of this limitation, securities of the U.S. government (including its agencies and instrumentalities), repurchase agreements collateralized by U.S. government securities, and securities of state or municipal governments and their political subdivisions are not considered to be issued by members of any industry. |
2. | Borrow money, except that (i) each Fund may borrow from banks for temporary or emergency (not leveraging) purposes, including the meeting of redemption requests which might otherwise require the untimely disposition of securities; and (ii) each Fund may, to the extent consistent with its investment policies, enter into repurchase agreements, reverse repurchase agreements, forward roll transactions and similar investment strategies and techniques. To the extent that it engages in transactions described in (i) and (ii), each Fund will be limited so that no more than 33 1/3% of the value of its total assets (including the amount borrowed) is derived from such transactions. Any borrowings which come to exceed this amount will be reduced in accordance with applicable law. |
3. | Issue any senior security, except as permitted under the 1940 Act, as interpreted, modified or otherwise permitted by regulatory authority having jurisdiction, from time to time. |
4. | Make loans, except as permitted under the 1940 Act, as interpreted, modified or otherwise permitted by regulatory authority having jurisdiction, from time to time. |
5. | Purchase or sell real estate unless acquired as a result of ownership of securities or other instruments (but this restriction shall not prevent each Fund from investing in securities of companies engaged in the real estate business or securities or other instruments backed by real estate or mortgages), or commodities or commodity contracts (but this restriction shall not prevent each Fund from trading in futures contracts and options on futures contracts, including options on currencies to the extent consistent with each Fund’s investment objective and policies). |
6. | Engage in the business of underwriting securities issued by other persons, except to the extent that each Fund may technically be deemed to be an underwriter under the 1933 Act, in disposing of portfolio securities. |
1. | Concentrate its investments in a particular industry, as that term is used in the 1940 Act, except that each Fund will concentrate to approximately the same extent that its Underlying Index concentrates in the securities of a particular industry or group of industries. |
2. | Borrow money, except as permitted under the 1940 Act. |
3. | Issue senior securities to the extent such issuance would violate the 1940 Act. |
4. | Purchase or hold real estate, except each Fund may purchase and hold securities or other instruments that are secured by, or linked to, real estate or interests therein, securities of REITs, mortgage-related securities and securities of issuers engaged in the real estate business, and each Fund may purchase and hold real estate as a result of the ownership of securities or other instruments. |
5. | Underwrite securities issued by others, except to the extent that the sale of portfolio securities by each Fund may be deemed to be an underwriting or as otherwise permitted by applicable law. |
6. | Purchase or sell commodities or commodity contracts, except as permitted by the 1940 Act. |
7. | Make loans to the extent prohibited by the 1940 Act. |
Name (Age) | Position |
Principal
Occupation(s)
During the Past 5 Years |
Other
Directorships
Held by Trustee |
|||
Robert
S. Kapito1
(63) |
Trustee
(since 2009). |
President, BlackRock, Inc. (since 2006); Vice Chairman of BlackRock, Inc. and Head of BlackRock’s Portfolio Management Group (since its formation in 1998) and BlackRock, Inc.’s predecessor entities (since 1988); Trustee, University of Pennsylvania (since 2009); President of Board of Directors, Hope & Heroes Children’s Cancer Fund (since 2002). | Director of BlackRock, Inc. (since 2006); Director of iShares, Inc. (since 2009); Trustee of iShares U.S. ETF Trust (since 2011). | |||
Salim
Ramji2
(50) |
Trustee (since 2019). | Senior Managing Director, BlackRock, Inc. (since 2014); Global Head of BlackRock’s ETF and Index Investments Business (since 2019); Head of BlackRock’s U.S. Wealth Advisory Business (2015-2019); Global Head of Corporate Strategy, BlackRock, Inc. (2014-2015); Senior Partner, McKinsey & Company (2010-2014). | Director of iShares, Inc. (since 2019); Trustee of iShares U.S. ETF Trust (since 2019). |
1 | Robert S. Kapito is deemed to be an “interested person” (as defined in the 1940 Act) of the Trust due to his affiliations with BlackRock, Inc. and its affiliates. |
2 | Salim Ramji is deemed to be an “interested person” (as defined in the 1940 Act) of the Trust due to his affiliations with BlackRock, Inc. and its affiliates. |
Name (Age) | Position |
Principal
Occupation(s)
During the Past 5 Years |
Other
Directorships
Held by Trustee |
|||
Cecilia
H. Herbert
(71) |
Trustee
(since 2005); Independent Board Chair (since 2016). |
Chair
of the Finance Committee (since 2019) and Trustee and Member of the Finance, Audit and Quality Committees of Stanford Health Care (since 2016); Trustee of WNET, New York's public media company (since 2011) and Member of the Audit Committee (since
2018) and Investment Committee (since 2011); Chair (1994-2005) and Member (since 1992) of the Investment Committee, Archdiocese of San Francisco; Trustee of Forward Funds (14 portfolios) (2009-2018); Trustee of Salient MF Trust (4 portfolios)
(2015-2018); Director (1998-2013) and President (2007-2011) of the Board of Directors, Catholic Charities CYO; Trustee (2002-2011) and Chair of the Finance and Investment Committee (2006-2010) of the Thacher
School.
|
Director of iShares, Inc. (since 2005); Trustee of iShares U.S. ETF Trust (since 2011); Independent Board Chair of iShares, Inc. and iShares U.S. ETF Trust (since 2016); Trustee of Thrivent Church Loan and Income Fund (since 2019). | |||
Jane
D. Carlin
(64) |
Trustee
(since 2015); Risk Committee Chair (since 2016). |
Consultant (since 2012); Member of the Audit Committee (2012-2018), Chair of the Nominating and Governance Committee (2017-2018) and Director of PHH Corporation (mortgage solutions) (2012-2018); Managing Director and Global Head of Financial Holding Company Governance & Assurance and the Global Head of Operational Risk Management of Morgan Stanley (2006-2012). | Director of iShares, Inc. (since 2015); Trustee of iShares U.S. ETF Trust (since 2015); Member of the Audit Committee (since 2016) and Director of The Hanover Insurance Group, Inc. (since 2016). | |||
Richard
L. Fagnani
(65) |
Trustee
(since 2017); Audit Committee Chair (since 2019). |
Partner, KPMG LLP (2002-2016). | Director of iShares, Inc. (since 2017); Trustee of iShares U.S. ETF Trust (since 2017). | |||
John
E. Kerrigan
(65) |
Trustee
(since 2005); Nominating and Governance and Equity Plus Committee Chairs (since 2019). |
Chief Investment Officer, Santa Clara University (since 2002). | Director of iShares, Inc. (since 2005); Trustee of iShares U.S. ETF Trust (since 2011). |
Name (Age) | Position |
Principal
Occupation(s)
During the Past 5 Years |
Other
Directorships
Held by Trustee |
|||
Drew
E. Lawton
(61) |
Trustee
(since 2017); 15(c) Committee Chair (since 2017). |
Senior Managing Director of New York Life Insurance Company (2010-2015). | Director of iShares, Inc. (since 2017); Trustee of iShares U.S. ETF Trust (since 2017). | |||
John
E. Martinez
(59) |
Trustee
(since 2003); Securities Lending Committee Chair (since 2019). |
Director of Real Estate Equity Exchange, Inc. (since 2005); Director of Cloudera Foundation (since 2017); and Director of Reading Partners (2012-2016). | Director of iShares, Inc. (since 2003); Trustee of iShares U.S. ETF Trust (since 2011). | |||
Madhav
V. Rajan
(55) |
Trustee
(since 2011); Fixed Income Plus Committee Chair (since 2019). |
Dean, and George Pratt Shultz Professor of Accounting, University of Chicago Booth School of Business (since 2017); Chair of the Board for the Center for Research in Security Prices, LLC (since 2020); Robert K. Jaedicke Professor of Accounting, Stanford University Graduate School of Business (2001-2017); Professor of Law (by courtesy), Stanford Law School (2005-2017); Senior Associate Dean for Academic Affairs and Head of MBA Program, Stanford University Graduate School of Business (2010-2016). |
Director
of iShares, Inc. (since 2011);
Trustee of iShares U.S. ETF Trust (since 2011). |
Name (Age) | Position |
Principal
Occupation(s)
During the Past 5 Years |
||
Armando
Senra
(49) |
President (since 2019). | Managing Director, BlackRock, Inc. (since 2007); Head of U.S., Canada and Latam iShares, BlackRock, Inc. (since 2019); Head of Latin America Region, BlackRock, Inc. (2006-2019); Managing Director, Bank of America Merrill Lynch (1994-2006). | ||
Trent
Walker
(46) |
Treasurer
and Chief Financial Officer
(since 2020). |
Managing Director of BlackRock, Inc. (since September 2019); Executive Vice President of PIMCO (2016-2019); Senior Vice President of PIMCO (2008-2015); Treasurer (2013-2019) and Assistant Treasurer (2007-2017) of PIMCO Funds, PIMCO Variable Insurance Trust, PIMCO ETF Trust, PIMCO Equity Series, PIMCO Equity Series VIT, PIMCO Managed Accounts Trust, 2 PIMCO-sponsored interval funds and 21 PIMCO-sponsored closed-end funds. |
Name (Age) | Position |
Principal
Occupation(s)
During the Past 5 Years |
||
Charles
Park
(52) |
Chief Compliance Officer (since 2006). | Chief Compliance Officer of BlackRock Advisors, LLC and the BlackRock-advised Funds in the Equity-Bond Complex, the Equity-Liquidity Complex and the Closed-End Complex (since 2014); Chief Compliance Officer of BFA (since 2006). | ||
Deepa
Damre
(45) |
Secretary (since 2019). | Managing Director, BlackRock, Inc. (since 2014); Director, BlackRock, Inc. (2009-2013). | ||
Scott
Radell
(51) |
Executive
Vice President
(since 2012). |
Managing Director, BlackRock, Inc. (since 2009); Head of Portfolio Solutions, BlackRock, Inc. (since 2009). | ||
Alan
Mason
(59) |
Executive
Vice President
(since 2016). |
Managing Director, BlackRock, Inc. (since 2009). | ||
Marybeth
Leithead
(57) |
Executive
Vice President
(since 2019). |
Managing Director, BlackRock, Inc. (since 2017); Chief Operating Officer of Americas iShares (since 2017); Portfolio Manager, Municipal Institutional & Wealth Management (2009-2016). |
Name | Fund |
Dollar
Range of Equity
Securities in Named Fund |
Aggregate
Dollar Range
of Equity Securities in all Registered Investment Companies Overseen by Trustee in Family of Investment Companies |
|||
Robert S. Kapito | None | None | None | |||
Salim Ramji | iShares Commodities Select Strategy ETF | $10,001-$50,000 | Over $100,000 | |||
iShares Core MSCI Emerging Markets ETF | Over $100,000 | |||||
iShares Core MSCI Total International Stock ETF | $1-$10,000 | |||||
iShares Core S&P 500 ETF | $1-$10,000 | |||||
iShares Core S&P Total U.S. Stock Market ETF | $1-$10,000 | |||||
iShares Expanded Tech Sector ETF | $1-$10,000 | |||||
iShares Expanded Tech-Software Sector ETF | $1-$10,000 | |||||
iShares MSCI USA ESG Select ETF | $1-$10,000 | |||||
iShares North American Natural Resources ETF | $10,001-$50,000 | |||||
iShares Robotics and Artificial Intelligence Multisector ETF | $1-$10,000 | |||||
iShares TIPS Bond ETF | $10,001-$50,000 | |||||
Cecilia H. Herbert | iShares California Muni Bond ETF | Over $100,000 | Over $100,000 | |||
iShares China Large-Cap ETF | $50,001-$100,000 | |||||
iShares Core Dividend Growth ETF | $50,001-$100,000 | |||||
iShares Core MSCI Emerging Markets ETF | $1-$10,000 | |||||
iShares Core MSCI Total International Stock ETF | $10,001-$50,000 | |||||
iShares Core S&P 500 ETF | Over $100,000 | |||||
iShares Core S&P U.S. Growth ETF | $50,001-$100,000 | |||||
iShares Core S&P U.S. Value ETF | $50,001-$100,000 | |||||
iShares iBoxx $ High Yield Corporate Bond ETF | $10,001-$50,000 | |||||
iShares International Select Dividend ETF | $1-$10,000 | |||||
iShares MSCI EAFE ETF | $1-$10,000 |
Name | Fund |
Dollar
Range of Equity
Securities in Named Fund |
Aggregate
Dollar Range
of Equity Securities in all Registered Investment Companies Overseen by Trustee in Family of Investment Companies |
|||
iShares MSCI Japan ETF | $10,001-$50,000 | |||||
iShares National Muni Bond ETF | $10,001-$50,000 | |||||
iShares Preferred and Income Securities ETF | $10,001-$50,000 | |||||
Jane D. Carlin | iShares 1-3 Year Treasury Bond ETF | $50,001-$100,000 | Over $100,000 | |||
iShares Core MSCI Emerging Markets ETF | $10,001-$50,000 | |||||
iShares Core MSCI Total International Stock ETF | Over $100,000 | |||||
iShares Core S&P Mid-Cap ETF | $10,001-$50,000 | |||||
iShares Core S&P Small-Cap ETF | Over $100,000 | |||||
iShares Core U.S. Aggregate Bond ETF | Over $100,000 | |||||
iShares Edge MSCI Min Vol USA ETF | $50,001-$100,000 | |||||
iShares Global Tech ETF | $10,001-$50,000 | |||||
iShares MSCI ACWI ETF | Over $100,000 | |||||
iShares MSCI ACWI ex U.S. ETF | $50,001-$100,000 | |||||
iShares MSCI EAFE Small-Cap ETF | $10,001-$50,000 | |||||
iShares MSCI Emerging Markets Small-Cap ETF | $10,001-$50,000 | |||||
iShares Select Dividend ETF | $10,001-$50,000 | |||||
iShares Ultra Short-Term Bond ETF | Over $100,000 | |||||
Richard L. Fagnani | iShares Core MSCI EAFE ETF | $10,001-$50,000 | Over $100,000 | |||
iShares Core S&P 500 ETF | $10,001-$50,000 | |||||
iShares Core S&P Small-Cap ETF | $10,001-$50,000 | |||||
iShares Edge MSCI Multifactor Emerging Markets ETF | $10,001-$50,000 | |||||
iShares Edge MSCI USA Value Factor ETF | $10,001-$50,000 | |||||
iShares Exponential Technologies ETF | $10,001-$50,000 | |||||
iShares Global Clean Energy ETF | $10,001-$50,000 | |||||
iShares MSCI EAFE Value ETF | $10,001-$50,000 | |||||
iShares MSCI Emerging Markets Small-Cap ETF | $10,001-$50,000 | |||||
iShares Robotics and Artificial Intelligence Multisector ETF | $10,001-$50,000 | |||||
iShares S&P Small-Cap 600 Value ETF | $10,001-$50,000 | |||||
iShares Select Dividend ETF | $10,001-$50,000 | |||||
iShares U.S. Financials ETF | $10,001-$50,000 | |||||
John E. Kerrigan | iShares MSCI ACWI ex U.S. ETF | Over $100,000 | Over $100,000 | |||
Name | Fund |
Dollar
Range of Equity
Securities in Named Fund |
Aggregate
Dollar Range
of Equity Securities in all Registered Investment Companies Overseen by Trustee in Family of Investment Companies |
|||
Drew E. Lawton | iShares 0-5 Year High Yield Corporate Bond ETF | Over $100,000 | Over $100,000 | |||
iShares Core Dividend Growth ETF | $50,001-$100,000 | |||||
iShares Core MSCI Total International Stock ETF | $50,001-$100,000 | |||||
iShares Core S&P Total U.S. Stock Market ETF | Over $100,000 | |||||
iShares Exponential Technologies ETF | Over $100,000 | |||||
iShares MSCI Frontier 100 ETF | $1-$10,000 | |||||
iShares Nasdaq Biotechnology ETF | $50,001-$100,000 | |||||
iShares Short Maturity Bond ETF | Over $100,000 | |||||
iShares Ultra Short-Term Bond ETF | Over $100,000 | |||||
John E. Martinez | iShares Core 5-10 Year USD Bond ETF | Over $100,000 | Over $100,000 | |||
iShares Core International Aggregate Bond ETF | Over $100,000 | |||||
iShares Global Consumer Staples ETF | Over $100,000 | |||||
iShares Interest Rate Hedged Long-Term Corporate Bond ETF | Over $100,000 | |||||
iShares Intermediate-Term Corporate Bond ETF | Over $100,000 | |||||
iShares MSCI EAFE ETF | Over $100,000 | |||||
iShares Russell 1000 ETF | Over $100,000 | |||||
iShares Russell 1000 Value ETF | Over $100,000 | |||||
iShares Russell 2000 ETF | Over $100,000 | |||||
Madhav V. Rajan | iShares Broad USD High Yield Corporate Bond ETF | Over $100,000 | Over $100,000 | |||
iShares Core Dividend Growth ETF | Over $100,000 | |||||
iShares Core High Dividend ETF | Over $100,000 | |||||
iShares Core MSCI EAFE ETF | Over $100,000 | |||||
iShares Core S&P 500 ETF | Over $100,000 | |||||
iShares Mortgage Real Estate ETF | Over $100,000 | |||||
iShares Preferred and Income Securities ETF | Over $100,000 | |||||
iShares Russell 2000 ETF | Over $100,000 | |||||
iShares Select Dividend ETF | Over $100,000 | |||||
iShares Short-Term Corporate Bond ETF | Over $100,000 | |||||
iShares Short Maturity Bond ETF | Over $100,000 | |||||
iShares Ultra Short-Term Bond ETF | Over $100,000 |
Name |
iShares
Core
S&P 500 ETF |
iShares
Core S&P
Mid-Cap ETF |
iShares
Core S&P
Small-Cap ETF |
iShares
Core
S&P Total U.S. Stock Market ETF |
||||
Independent Trustees: | ||||||||
Jane D. Carlin | $ 52,541 | $ 12,703 | $ 11,339 | $6,999 | ||||
Richard L. Fagnani | 57,090 | 13,803 | 12,321 | 7,605 | ||||
Cecilia H. Herbert | 61,205 | 14,797 | 13,209 | 8,153 | ||||
John E. Kerrigan | 57,170 | 13,822 | 12,338 | 7,616 | ||||
Drew E. Lawton | 55,073 | 13,315 | 11,886 | 7,336 | ||||
John E. Martinez | 53,807 | 13,009 | 11,613 | 7,168 | ||||
Madhav V. Rajan | 53,807 | 13,009 | 11,613 | 7,168 | ||||
Interested Trustees: | ||||||||
Robert S. Kapito | $ 0 | $ 0 | $ 0 | $0 | ||||
Salim Ramji1 | 0 | 0 | 0 | 0 | ||||
Mark K. Wiedman2 | 0 | 0 | 0 | 0 |
Name |
iShares
Core
S&P U.S. Growth ETF |
iShares
Core
S&P U.S. Value ETF |
iShares
Europe ETF |
iShares
Expanded
Tech Sector ETF |
||||
Independent Trustees: | ||||||||
Jane D. Carlin | $ 2,482 | $ 1,891 | $ 337 | $618 | ||||
Richard L. Fagnani | 2,697 | 2,054 | 366 | 672 | ||||
Cecilia H. Herbert | 2,891 | 2,202 | 392 | 720 | ||||
John E. Kerrigan | 2,700 | 2,057 | 366 | 673 | ||||
Drew E. Lawton | 2,601 | 1,982 | 353 | 648 | ||||
John E. Martinez | 2,542 | 1,936 | 345 | 633 | ||||
Madhav V. Rajan | 2,542 | 1,936 | 345 | 633 | ||||
Interested Trustees: | ||||||||
Robert S. Kapito | $ 0 | $ 0 | $ 0 | $0 | ||||
Salim Ramji1 | 0 | 0 | 0 | 0 | ||||
Mark K. Wiedman2 | 0 | 0 | 0 | 0 |
Name |
iShares
Expanded
Tech-Software Sector ETF |
iShares
Factors US
Blend Style ETF3 |
iShares
Factors US
Growth Style ETF4 |
iShares
Factors US
Mid Blend Style ETF5 |
||||
Independent Trustees: | ||||||||
Jane D. Carlin | $ 1,097 | $0 | $ 1 | $0 | ||||
Richard L. Fagnani | 1,192 | 0 | 2 | 0 | ||||
Cecilia H. Herbert | 1,278 | 0 | 2 | 0 | ||||
John E. Kerrigan | 1,194 | 0 | 2 | 0 | ||||
Drew E. Lawton | 1,150 | 0 | 2 | 0 | ||||
John E. Martinez | 1,124 | 0 | 2 | 0 | ||||
Madhav V. Rajan | 1,124 | 0 | 2 | 0 | ||||
Interested Trustees: | ||||||||
Robert S. Kapito | $ 0 | $0 | $0 | $0 | ||||
Salim Ramji1 | 0 | 0 | 0 | 0 | ||||
Mark K. Wiedman2 | 0 | 0 | 0 | 0 |
Name |
iShares
Factors US
Small Blend Style ETF6 |
iShares
Factors US
Value Style ETF7 |
iShares
Focused
Value Factor ETF |
iShares
Global 100 ETF |
||||
Independent Trustees: | ||||||||
Jane D. Carlin | $0 | $ 1 | $ 7 | $ 298 | ||||
Richard L. Fagnani | 0 | 1 | 7 | 324 | ||||
Cecilia H. Herbert | 0 | 1 | 8 | 347 | ||||
John E. Kerrigan | 0 | 1 | 7 | 325 | ||||
Drew E. Lawton | 0 | 1 | 7 | 313 | ||||
John E. Martinez | 0 | 1 | 7 | 305 | ||||
Madhav V. Rajan | 0 | 1 | 7 | 305 | ||||
Interested Trustees: | ||||||||
Robert S. Kapito | $0 | $0 | $0 | $0 | ||||
Salim Ramji1 | 0 | 0 | 0 | 0 | ||||
Mark K. Wiedman2 | 0 | 0 | 0 | 0 |
Name |
iShares
Global Clean Energy ETF |
iShares
Global Comm Services ETF |
iShares
Global Consumer Discretionary ETF |
iShares
Global Consumer Staples ETF |
||||
Independent Trustees: | ||||||||
Jane D. Carlin | $ 181 | $ 80 | $ 47 | $207 | ||||
Richard L. Fagnani | 196 | 87 | 51 | 225 | ||||
Cecilia H. Herbert | 210 | 93 | 55 | 241 | ||||
John E. Kerrigan | 197 | 87 | 51 | 225 | ||||
Drew E. Lawton | 189 | 84 | 49 | 217 | ||||
John E. Martinez | 185 | 82 | 48 | 212 | ||||
Madhav V. Rajan | 185 | 82 | 48 | 212 | ||||
Interested Trustees: | ||||||||
Robert S. Kapito | $ 0 | $ 0 | $ 0 | $0 | ||||
Salim Ramji1 | 0 | 0 | 0 | 0 |
Name |
iShares
Global Clean Energy ETF |
iShares
Global Comm Services ETF |
iShares
Global Consumer Discretionary ETF |
iShares
Global Consumer Staples ETF |
||||
Mark K. Wiedman2 | 0 | 0 | 0 | 0 |
Name |
iShares
Global Energy ETF |
iShares
Global Financials ETF |
iShares
Global Industrials ETF |
iShares
Global Infrastructure ETF |
||||
Independent Trustees: | ||||||||
Jane D. Carlin | $ 223 | $ 74 | $ 45 | $ 985 | ||||
Richard L. Fagnani | 243 | 80 | 49 | 1,070 | ||||
Cecilia H. Herbert | 260 | 86 | 52 | 1,147 | ||||
John E. Kerrigan | 243 | 80 | 49 | 1,071 | ||||
Drew E. Lawton | 234 | 77 | 47 | 1,032 | ||||
John E. Martinez | 229 | 75 | 46 | 1,008 | ||||
Madhav V. Rajan | 229 | 75 | 46 | 1,008 | ||||
Interested Trustees: | ||||||||
Robert S. Kapito | $ 0 | $ 0 | $ 0 | $0 | ||||
Salim Ramji1 | 0 | 0 | 0 | 0 | ||||
Mark K. Wiedman2 | 0 | 0 | 0 | 0 |
Name |
iShares
Global Utilities ETF |
iShares
International
Developed Property ETF |
iShares
International Preferred Stock ETF |
iShares
JPX-Nikkei 400 ETF |
||||
Independent Trustees: | ||||||||
Jane D. Carlin | $ 55 | $ 28 | $ 10 | $ 28 | ||||
Richard L. Fagnani | 60 | 31 | 11 | 31 | ||||
Cecilia H. Herbert | 64 | 33 | 11 | 33 | ||||
John E. Kerrigan | 60 | 31 | 11 | 31 | ||||
Drew E. Lawton | 58 | 30 | 10 | 30 | ||||
John E. Martinez | 56 | 29 | 10 | 29 | ||||
Madhav V. Rajan | 56 | 29 | 10 | 29 | ||||
Interested Trustees: | ||||||||
Robert S. Kapito | $ 0 | $ 0 | $ 0 | $0 | ||||
Salim Ramji1 | 0 | 0 | 0 | 0 | ||||
Mark K. Wiedman2 | 0 | 0 | 0 | 0 |
Name |
iShares
Micro-Cap ETF |
iShares
Mortgage
Real Estate ETF |
iShares
Nasdaq
Biotechnology ETF |
iShares
North
American Natural Resources ETF |
||||
Independent Trustees: | ||||||||
Jane D. Carlin | $ 203 | $ 198 | $ 2,296 | $ 96 | ||||
Richard L. Fagnani | 221 | 215 | 2,495 | 105 | ||||
Cecilia H. Herbert | 237 | 230 | 2,675 | 112 | ||||
John E. Kerrigan | 221 | 215 | 2,499 | 105 | ||||
Drew E. Lawton | 213 | 207 | 2,407 | 101 |
Name |
iShares
Micro-Cap ETF |
iShares
Mortgage
Real Estate ETF |
iShares
Nasdaq
Biotechnology ETF |
iShares
North
American Natural Resources ETF |
||||
John E. Martinez | 208 | 202 | 2,352 | 99 | ||||
Madhav V. Rajan | 208 | 202 | 2,352 | 99 | ||||
Interested Trustees: | ||||||||
Robert S. Kapito | $ 0 | $ 0 | $ 0 | $0 | ||||
Salim Ramji1 | 0 | 0 | 0 | 0 | ||||
Mark K. Wiedman2 | 0 | 0 | 0 | 0 |
Name |
iShares
North
American Tech-Multimedia Networking ETF |
iShares
PHLX
Semiconductor ETF |
iShares
Preferred
and Income Securities ETF |
iShares
Residential
Real Estate ETF |
||||
Independent Trustees: | ||||||||
Jane D. Carlin | $ 16 | $ 775 | $ 4,840 | $ 120 | ||||
Richard L. Fagnani | 17 | 842 | 5,259 | 130 | ||||
Cecilia H. Herbert | 18 | 903 | 5,638 | 140 | ||||
John E. Kerrigan | 17 | 844 | 5,266 | 131 | ||||
Drew E. Lawton | 16 | 813 | 5,073 | 126 | ||||
John E. Martinez | 16 | 794 | 4,956 | 123 | ||||
Madhav V. Rajan | 16 | 794 | 4,956 | 123 | ||||
Interested Trustees: | ||||||||
Robert S. Kapito | $ 0 | $ 0 | $ 0 | $0 | ||||
Salim Ramji1 | 0 | 0 | 0 | 0 | ||||
Mark K. Wiedman2 | 0 | 0 | 0 | 0 |
Name |
iShares
Russell
1000 ETF |
iShares
Russell
1000 Growth ETF |
iShares
Russell
1000 Pure U.S. Revenue ETF |
iShares
Russell
1000 Value ETF |
||||
Independent Trustees: | ||||||||
Jane D. Carlin | $ 6,055 | $ 15,366 | $ 1 | $ 11,228 | ||||
Richard L. Fagnani | 6,579 | 16,696 | 1 | 12,200 | ||||
Cecilia H. Herbert | 7,053 | 17,900 | 1 | 13,079 | ||||
John E. Kerrigan | 6,588 | 16,720 | 1 | 12,217 | ||||
Drew E. Lawton | 6,347 | 16,106 | 1 | 11,769 | ||||
John E. Martinez | 6,201 | 15,736 | 1 | 11,498 | ||||
Madhav V. Rajan | 6,201 | 15,736 | 1 | 11,498 | ||||
Interested Trustees: | ||||||||
Robert S. Kapito | $ 0 | $ 0 | $0 | $0 | ||||
Salim Ramji1 | 0 | 0 | 0 | 0 | ||||
Mark K. Wiedman2 | 0 | 0 | 0 | 0 |
Name |
iShares
Russell
2000 ETF |
iShares
Russell
2000 Growth ETF |
iShares
Russell
2000 Value ETF |
iShares
Russell
3000 ETF |
||||
Independent Trustees: | ||||||||
Jane D. Carlin | $ 11,137 | $ 2,502 | $ 2,382 | $ 2,881 | ||||
Richard L. Fagnani | 12,102 | 2,719 | 2,588 | 3,131 | ||||
Cecilia H. Herbert | 12,974 | 2,915 | 2,775 | 3,356 | ||||
John E. Kerrigan | 12,119 | 2,723 | 2,592 | 3,135 | ||||
Drew E. Lawton | 11,674 | 2,623 | 2,497 | 3,020 | ||||
John E. Martinez | 11,406 | 2,563 | 2,439 | 2,951 | ||||
Madhav V. Rajan | 11,406 | 2,563 | 2,439 | 2,951 | ||||
Interested Trustees: | ||||||||
Robert S. Kapito | $ 0 | $ 0 | $ 0 | $0 | ||||
Salim Ramji1 | 0 | 0 | 0 | 0 | ||||
Mark K. Wiedman2 | 0 | 0 | 0 | 0 |
Name |
iShares
Russell
Mid-Cap ETF |
iShares
Russell
Mid-Cap Growth ETF |
iShares
Russell
Mid-Cap Value ETF |
iShares
Russell
Top 200 ETF |
||||
Independent Trustees: | ||||||||
Jane D. Carlin | $ 5,693 | $ 3,384 | $ 2,968 | $ 134 | ||||
Richard L. Fagnani | 6,186 | 3,677 | 3,225 | 145 | ||||
Cecilia H. Herbert | 6,632 | 3,942 | 3,458 | 156 | ||||
John E. Kerrigan | 6,194 | 3,682 | 3,230 | 145 | ||||
Drew E. Lawton | 5,967 | 3,547 | 3,111 | 140 | ||||
John E. Martinez | 5,830 | 3,465 | 3,040 | 137 | ||||
Madhav V. Rajan | 5,830 | 3,465 | 3,040 | 137 | ||||
Interested Trustees: | ||||||||
Robert S. Kapito | $ 0 | $ 0 | $ 0 | $0 | ||||
Salim Ramji1 | 0 | 0 | 0 | 0 | ||||
Mark K. Wiedman2 | 0 | 0 | 0 | 0 |
Name |
iShares
Russell
Top 200 Growth ETF |
iShares
Russell
Top 200 Value ETF |
iShares
S&P
100 ETF |
iShares
S&P 500
Growth ETF |
||||
Independent Trustees: | ||||||||
Jane D. Carlin | $ 608 | $ 141 | $ 1,757 | $ 8,004 | ||||
Richard L. Fagnani | 660 | 153 | 1,909 | 8,698 | ||||
Cecilia H. Herbert | 708 | 164 | 2,046 | 9,324 | ||||
John E. Kerrigan | 661 | 153 | 1,911 | 8,710 | ||||
Drew E. Lawton | 637 | 148 | 1,841 | 8,390 | ||||
John E. Martinez | 622 | 144 | 1,799 | 8,197 | ||||
Madhav V. Rajan | 622 | 144 | 1,799 | 8,197 | ||||
Interested Trustees: | ||||||||
Robert S. Kapito | $ 0 | $ 0 | $ 0 | $ 0 |
Name |
iShares
Russell
Top 200 Growth ETF |
iShares
Russell
Top 200 Value ETF |
iShares
S&P
100 ETF |
iShares
S&P 500
Growth ETF |
||||
Salim Ramji1 | 0 | 0 | 0 | 0 | ||||
Mark K. Wiedman2 | 0 | 0 | 0 | 0 |
Name |
iShares
S&P 500
Value ETF |
iShares
S&P
Mid-Cap 400 Growth ETF |
iShares
S&P
Mid-Cap 400 Value ETF |
iShares
S&P
Small-Cap 600 Growth ETF |
||||
Independent Trustees: | ||||||||
Jane D. Carlin | $ 5,093 | $ 1,903 | $ 1,379 | $ 1,272 | ||||
Richard L. Fagnani | 5,534 | 2,068 | 1,499 | 1,383 | ||||
Cecilia H. Herbert | 5,933 | 2,217 | 1,607 | 1,482 | ||||
John E. Kerrigan | 5,542 | 2,071 | 1,501 | 1,384 | ||||
Drew E. Lawton | 5,338 | 1,995 | 1,446 | 1,334 | ||||
John E. Martinez | 5,216 | 1,949 | 1,413 | 1,303 | ||||
Madhav V. Rajan | 5,216 | 1,949 | 1,413 | 1,303 | ||||
Interested Trustees: | ||||||||
Robert S. Kapito | $ 0 | $ 0 | $ 0 | $0 | ||||
Salim Ramji1 | 0 | 0 | 0 | 0 | ||||
Mark K. Wiedman2 | 0 | 0 | 0 | 0 |
Name |
iShares
S&P
Small-Cap 600 Value ETF |
iShares
U.S.
Aerospace & Defense ETF |
iShares
U.S.
Broker-Dealers & Securities Exchanges ETF |
iShares
U.S.
Healthcare Providers ETF |
||||
Independent Trustees: | ||||||||
Jane D. Carlin | $ 1,486 | $ 1,018 | $ 51 | $ 284 | ||||
Richard L. Fagnani | 1,615 | 1,106 | 55 | 308 | ||||
Cecilia H. Herbert | 1,731 | 1,186 | 59 | 331 | ||||
John E. Kerrigan | 1,617 | 1,107 | 55 | 309 | ||||
Drew E. Lawton | 1,558 | 1,067 | 53 | 298 | ||||
John E. Martinez | 1,522 | 1,042 | 52 | 291 | ||||
Madhav V. Rajan | 1,522 | 1,042 | 52 | 291 | ||||
Interested Trustees: | ||||||||
Robert S. Kapito | $ 0 | $ 0 | $ 0 | $0 | ||||
Salim Ramji1 | 0 | 0 | 0 | 0 | ||||
Mark K. Wiedman2 | 0 | 0 | 0 | 0 |
Name |
iShares
U.S. Home Construction ETF |
iShares
U.S.
Infrastructure ETF |
iShares
U.S.
Insurance ETF |
iShares
U.S.
Medical Devices ETF |
||||
Independent Trustees: | ||||||||
Jane D. Carlin | $ 256 | $ 2 | $ 23 | $ 1,500 | ||||
Richard L. Fagnani | 278 | 2 | 24 | 1,630 | ||||
Cecilia H. Herbert | 298 | 2 | 26 | 1,748 | ||||
John E. Kerrigan | 279 | 2 | 25 | 1,633 |
Name |
iShares
U.S. Home Construction ETF |
iShares
U.S.
Infrastructure ETF |
iShares
U.S.
Insurance ETF |
iShares
U.S.
Medical Devices ETF |
||||
Drew E. Lawton | 269 | 2 | 24 | 1,573 | ||||
John E. Martinez | 262 | 2 | 23 | 1,537 | ||||
Madhav V. Rajan | 262 | 2 | 23 | 1,537 | ||||
Interested Trustees: | ||||||||
Robert S. Kapito | $ 0 | $0 | $ 0 | $0 | ||||
Salim Ramji1 | 0 | 0 | 0 | 0 | ||||
Mark K. Wiedman2 | 0 | 0 | 0 | 0 |
Name |
iShares
U.S.
Oil & Gas Exploration & Production ETF |
iShares
U.S.
Oil Equipment & Services ETF |
iShares
U.S.
Pharmaceuticals ETF |
|||
Independent Trustees: | ||||||
Jane D. Carlin | $ 33 | $ 9 | $ 100 | |||
Richard L. Fagnani | 35 | 10 | 109 | |||
Cecilia H. Herbert | 38 | 11 | 117 | |||
John E. Kerrigan | 36 | 10 | 109 | |||
Drew E. Lawton | 34 | 10 | 105 | |||
John E. Martinez | 33 | 9 | 102 | |||
Madhav V. Rajan | 33 | 9 | 102 | |||
Interested Trustees: | ||||||
Robert S. Kapito | $ 0 | $ 0 | $0 | |||
Salim Ramji1 | 0 | 0 | 0 | |||
Mark K. Wiedman2 | 0 | 0 | 0 |
Name |
iShares
U.S.
Real Estate ETF |
iShares
U.S.
Regional Banks ETF |
iShares
U.S.
Telecommunications ETF |
|||
Independent Trustees: | ||||||
Jane D. Carlin | $ 1,069 | $ 71 | $ 106 | |||
Richard L. Fagnani | 1,161 | 78 | 115 | |||
Cecilia H. Herbert | 1,245 | 83 | 123 | |||
John E. Kerrigan | 1,163 | 78 | 115 | |||
Drew E. Lawton | 1,120 | 75 | 111 | |||
John E. Martinez | 1,094 | 73 | 108 | |||
Madhav V. Rajan | 1,094 | 73 | 108 | |||
Interested Trustees: | ||||||
Robert S. Kapito | $ 0 | $ 0 | $0 | |||
Salim Ramji1 | 0 | 0 | 0 | |||
Mark K. Wiedman2 | 0 | 0 | 0 |
Name |
Pension
or
Retirement Benefits Accrued As Part of Trust Expenses8 |
Estimated
Annual
Benefits Upon Retirement8 |
Total
Compensation From the Funds and Fund Complex9 |
|||
Independent Trustees: | ||||||
Jane D. Carlin | Not Applicable | Not Applicable | 395,000 | |||
Richard L. Fagnani | Not Applicable | Not Applicable | 421,764 | |||
Cecilia H. Herbert | Not Applicable | Not Applicable | 450,000 | |||
John E. Kerrigan | Not Applicable | Not Applicable | 420,000 | |||
Drew E. Lawton | Not Applicable | Not Applicable | 406,764 | |||
John E. Martinez | Not Applicable | Not Applicable | 395,000 | |||
Madhav V. Rajan | Not Applicable | Not Applicable | 395,000 | |||
Interested Trustees: | ||||||
Robert S. Kapito | Not Applicable | Not Applicable | $0 | |||
Salim Ramji1 | Not Applicable | Not Applicable | 0 | |||
Mark K. Wiedman2 | Not Applicable | Not Applicable | 0 |
1 | Appointed to serve as an Interested Trustee effective June 19, 2019. |
2 | Served as an Interested Trustee through June 19, 2019. |
3 | No compensation was paid by the iShares Factors US Blend Style ETF for the fiscal year ended March 31, 2020 because the inception date of the Fund is April 14, 2020. |
4 | For the iShares Factors US Growth Style ETF, compensation reported is from the Fund's inception date of January 14, 2020 to March 31, 2020. |
5 | No compensation was paid by the iShares Factors US Mid Blend Style ETF for the fiscal year ended March 31, 2020 because the inception date of the Fund is April 14, 2020. |
6 | No compensation was paid by the iShares Factors US Small Blend Style ETF for the fiscal year ended March 31, 2020 because the inception date of the Fund is April 14, 2020. |
7 | For the iShares Factors US Value Style ETF, compensation reported is from the Fund's inception date of January 14, 2020 to March 31, 2020. |
8 | No Trustee or officer is entitled to any pension or retirement benefits from the Trust. |
9 | Also includes compensation for service on the Board of Trustees of iShares U.S. ETF Trust and the Board of Directors of iShares, Inc. |
Fund | Name |
Percentage
of Ownership |
||
iShares Core S&P 500 ETF |
National
Financial Services LLC
499 Washington Blvd Jersey City, NJ 07310 |
15.38% | ||
Charles
Schwab & Co., Inc.
101 Montgomery Street San Francisco, CA 94014 |
8.58% | |||
Pershing
LLC
One Pershing Plaza Jersey City, NJ 07399 |
7.00% |
Fund | Name |
Percentage
of Ownership |
||
The
Bank of New York Mellon
111 Sanders Creek Parkway 2nd Floor East Syracuse, NY 13057 |
5.33% | |||
JPMorgan
Chase Bank, National Association
500 Stanton Christiana Road Newark, DE 19713 |
5.10% | |||
iShares Core S&P Mid-Cap ETF |
National
Financial Services LLC
499 Washington Blvd Jersey City, NJ 07310 |
12.78% | ||
Charles
Schwab & Co., Inc.
101 Montgomery Street San Francisco, CA 94014 |
9.82% | |||
Pershing
LLC
One Pershing Plaza Jersey City, NJ 07399 |
8.25% | |||
Wells
Fargo Clearing Services LLC
2801 Market Street St Louis, MO 63103 |
5.56% | |||
TD
Ameritrade Clearing, Inc.
4700 Alliance Gateway Freeway Fort Worth, TX 76177 |
5.53% | |||
The
Bank of New York Mellon
111 Sanders Creek Parkway 2nd Floor East Syracuse, NY 13057 |
5.53% | |||
iShares Core S&P Small-Cap ETF |
National
Financial Services LLC
499 Washington Blvd Jersey City, NJ 07310 |
18.02% | ||
Charles
Schwab & Co., Inc.
101 Montgomery Street San Francisco, CA 94014 |
12.02% | |||
Pershing
LLC
One Pershing Plaza Jersey City, NJ 07399 |
9.21% | |||
iShares Core S&P Total U.S. Stock Market ETF |
National
Financial Services LLC
499 Washington Blvd Jersey City, NJ 07310 |
28.00% | ||
TD
Ameritrade Clearing, Inc.
4700 Alliance Gateway Freeway Fort Worth, TX 76177 |
8.43% | |||
Wells
Fargo Bank, National Association
733 Marquette Ave 4th Floor Minneapolis, MN 55402 |
6.50% |
Fund | Name |
Percentage
of Ownership |
||
The
Bank of New York Mellon
111 Sanders Creek Parkway 2nd Floor East Syracuse, NY 13057 |
6.04% | |||
Wells
Fargo Clearing Services LLC
2801 Market Street St Louis, MO 63103 |
5.89% | |||
Charles
Schwab & Co., Inc.
101 Montgomery Street San Francisco, CA 94014 |
5.78% | |||
iShares Core S&P U.S. Growth ETF |
Merrill
Lynch, Pierce, Fenner & Smith Incorporated - TS Sub
101 Hudson Street 9th Floor Jersey City, NJ 07302-3997 |
30.00% | ||
National
Financial Services LLC
499 Washington Blvd Jersey City, NJ 07310 |
13.98% | |||
LPL
Financial Corporation
9785 Towne Centre Drive San Diego, CA 92121-1968 |
13.20% | |||
Edward
D. Jones & Co.
12555 Manchester Road Saint Louis, MO 63131 |
8.65% | |||
Morgan
Stanley Smith Barney LLC
One New York Plaza New York, NY 10004 |
5.83% | |||
iShares Core S&P U.S. Value ETF |
Merrill
Lynch, Pierce, Fenner & Smith Incorporated - TS Sub
101 Hudson Street 9th Floor Jersey City, NJ 07302-3997 |
36.65% | ||
National
Financial Services LLC
499 Washington Blvd Jersey City, NJ 07310 |
13.62% | |||
LPL
Financial Corporation
9785 Towne Centre Drive San Diego, CA 92121-1968 |
12.00% | |||
Morgan
Stanley Smith Barney LLC
One New York Plaza New York, NY 10004 |
6.36% | |||
Charles
Schwab & Co., Inc.
101 Montgomery Street San Francisco, CA 94014 |
6.05% | |||
iShares Europe ETF |
JPMorgan
Chase Bank, National Association
500 Stanton Christiana Road Newark, DE 19713 |
30.14% |
Fund | Name |
Percentage
of Ownership |
||
Morgan
Stanley Smith Barney LLC
One New York Plaza New York, NY 10004 |
8.71% | |||
National
Financial Services LLC
499 Washington Blvd Jersey City, NJ 07310 |
7.53% | |||
Charles
Schwab & Co., Inc.
101 Montgomery Street San Francisco, CA 94014 |
5.88% | |||
The
Bank of New York Mellon
111 Sanders Creek Parkway 2nd Floor East Syracuse, NY 13057 |
5.79% | |||
Citibank,
N.A.
3800 CitiBank Center Tampa Building B/1st Floor Zone 8 Tampa, FL 33610-9122 |
5.40% | |||
iShares Expanded Tech Sector ETF |
Charles
Schwab & Co., Inc.
101 Montgomery Street San Francisco, CA 94014 |
16.29% | ||
National
Financial Services LLC
499 Washington Blvd Jersey City, NJ 07310 |
15.82% | |||
JPMorgan
Chase Bank, National Association
500 Stanton Christiana Road Newark, DE 19713 |
9.06% | |||
Citibank,
N.A.
3800 CitiBank Center Tampa Building B/1st Floor Zone 8 Tampa, FL 33610-9122 |
6.45% | |||
Morgan
Stanley Smith Barney LLC
One New York Plaza New York, NY 10004 |
6.02% | |||
TD
Ameritrade Clearing, Inc.
4700 Alliance Gateway Freeway Fort Worth, TX 76177 |
5.60% | |||
Merrill
Lynch, Pierce, Fenner & Smith Incorporated - TS Sub
101 Hudson Street 9th Floor Jersey City, NJ 07302-3997 |
5.42% | |||
iShares Expanded Tech-Software Sector ETF |
National
Financial Services LLC
499 Washington Blvd Jersey City, NJ 07310 |
13.57% | ||
Charles
Schwab & Co., Inc.
101 Montgomery Street San Francisco, CA 94014 |
10.81% |
Fund | Name |
Percentage
of Ownership |
||
Citibank,
N.A.
3800 CitiBank Center Tampa Building B/1st Floor Zone 8 Tampa, FL 33610-9122 |
9.74% | |||
JPMorgan
Chase Bank, National Association
500 Stanton Christiana Road Newark, DE 19713 |
8.21% | |||
Merrill
Lynch, Pierce, Fenner & Smith Incorporated - TS Sub
101 Hudson Street 9th Floor Jersey City, NJ 07302-3997 |
6.37% | |||
iShares Factors US Blend Style ETF |
State
Street Bank and Trust Company
1776 Heritage Drive North Quincy, MA 02171 |
75.00% | ||
ABN
AMRO Clearing Chicago LLC
175 West Jackson Boulevard Chicago, IL 60604 |
23.73% | |||
iShares Factors US Growth Style ETF |
State
Street Bank and Trust Company
1776 Heritage Drive North Quincy, MA 02171 |
75.00% | ||
ABN
AMRO Clearing Chicago LLC
175 West Jackson Boulevard Chicago, IL 60604 |
21.79% | |||
iShares Factors US Mid Blend Style ETF |
State
Street Bank and Trust Company
1776 Heritage Drive North Quincy, MA 02171 |
75.00% | ||
ABN
AMRO Clearing Chicago LLC
175 West Jackson Boulevard Chicago, IL 60604 |
24.55% | |||
iShares Factors US Small Blend Style ETF |
State
Street Bank and Trust Company
1776 Heritage Drive North Quincy, MA 02171 |
75.00% | ||
ABN
AMRO Clearing Chicago LLC
175 West Jackson Boulevard Chicago, IL 60604 |
24.29% | |||
iShares Factors US Value Style ETF |
TD
Ameritrade Clearing, Inc.
4700 Alliance Gateway Freeway Fort Worth, TX 76177 |
77.45% | ||
ABN
AMRO Clearing Chicago LLC
175 West Jackson Boulevard Chicago, IL 60604 |
11.18% |
Fund | Name |
Percentage
of Ownership |
||
Merrill
Lynch, Pierce, Fenner & Smith Incorporated
101 Hudson Street 9th Floor Jersey City, NJ 07302-3997 |
8.38% | |||
iShares Focused Value Factor ETF |
State
Street Bank and Trust Company
1776 Heritage Drive North Quincy, MA 02171 |
89.50% | ||
iShares Global 100 ETF |
JPMorgan
Chase Bank, National Association
500 Stanton Christiana Road Newark, DE 19713 |
55.77% | ||
National
Financial Services LLC
499 Washington Blvd Jersey City, NJ 07310 |
7.97% | |||
Merrill
Lynch, Pierce, Fenner & Smith Incorporated - TS Sub
101 Hudson Street 9th Floor Jersey City, NJ 07302-3997 |
6.78% | |||
Pershing
LLC
One Pershing Plaza Jersey City, NJ 07399 |
5.66% | |||
iShares Global Clean Energy ETF |
Charles
Schwab & Co., Inc.
101 Montgomery Street San Francisco, CA 94014 |
15.79% | ||
National
Financial Services LLC
499 Washington Blvd Jersey City, NJ 07310 |
13.19% | |||
Citibank,
N.A.
3800 CitiBank Center Tampa Building B/1st Floor Zone 8 Tampa, FL 33610-9122 |
9.11% | |||
The
Bank of New York Mellon
111 Sanders Creek Parkway 2nd Floor East Syracuse, NY 13057 |
5.67% | |||
iShares Global Comm Services ETF |
The
Bank of New York Mellon
111 Sanders Creek Parkway 2nd Floor East Syracuse, NY 13057 |
26.28% | ||
Charles
Schwab & Co., Inc.
101 Montgomery Street San Francisco, CA 94014 |
11.28% | |||
National
Financial Services LLC
499 Washington Blvd Jersey City, NJ 07310 |
9.72% | |||
Fund | Name |
Percentage
of Ownership |
||
iShares Global Consumer Discretionary ETF |
BlackRock
Institutional Trust Company, N.A.
400 Howard Street San Francisco, CA 94105 |
17.22% | ||
JPMorgan
Chase Bank, National Association
500 Stanton Christiana Road Newark, DE 19713 |
16.63% | |||
Charles
Schwab & Co., Inc.
101 Montgomery Street San Francisco, CA 94014 |
8.93% | |||
National
Financial Services LLC
499 Washington Blvd Jersey City, NJ 07310 |
7.90% | |||
The
Bank of New York Mellon
111 Sanders Creek Parkway 2nd Floor East Syracuse, NY 13057 |
5.12% | |||
iShares Global Consumer Staples ETF |
JPMorgan
Chase Bank, National Association
500 Stanton Christiana Road Newark, DE 19713 |
13.65% | ||
Charles
Schwab & Co., Inc.
101 Montgomery Street San Francisco, CA 94014 |
11.29% | |||
Merrill
Lynch, Pierce, Fenner & Smith Incorporated - TS Sub
101 Hudson Street 9th Floor Jersey City, NJ 07302-3997 |
8.94% | |||
National
Financial Services LLC
499 Washington Blvd Jersey City, NJ 07310 |
8.75% | |||
UBS
Financial Services Inc.
1000 Harbor Blvd. Weehawken, NJ 07086 |
7.75% | |||
iShares Global Energy ETF |
Charles
Schwab & Co., Inc.
101 Montgomery Street San Francisco, CA 94014 |
12.63% | ||
National
Financial Services LLC
499 Washington Blvd Jersey City, NJ 07310 |
12.19% | |||
TD
Ameritrade Clearing, Inc.
4700 Alliance Gateway Freeway Fort Worth, TX 76177 |
6.23% | |||
Citibank,
N.A.
3800 CitiBank Center Tampa Building B/1st Floor Zone 8 Tampa, FL 33610-9122 |
5.71% | |||
Morgan
Stanley Smith Barney LLC
One New York Plaza New York, NY 10004 |
5.07% |
Fund | Name |
Percentage
of Ownership |
||
iShares Global Financials ETF |
The
Bank of New York Mellon
111 Sanders Creek Parkway 2nd Floor East Syracuse, NY 13057 |
27.39% | ||
Charles
Schwab & Co., Inc.
101 Montgomery Street San Francisco, CA 94014 |
10.90% | |||
JPMorgan
Chase Bank, National Association
500 Stanton Christiana Road Newark, DE 19713 |
9.90% | |||
Citibank,
N.A.
3800 CitiBank Center Tampa Building B/1st Floor Zone 8 Tampa, FL 33610-9122 |
6.67% | |||
Morgan
Stanley Smith Barney LLC
One New York Plaza New York, NY 10004 |
6.14% | |||
National
Financial Services LLC
499 Washington Blvd Jersey City, NJ 07310 |
5.73% | |||
iShares Global Industrials ETF |
BlackRock
Institutional Trust Company, N.A.
400 Howard Street San Francisco, CA 94105 |
15.38% | ||
Charles
Schwab & Co., Inc.
101 Montgomery Street San Francisco, CA 94014 |
11.42% | |||
The
Bank of New York Mellon
111 Sanders Creek Parkway 2nd Floor East Syracuse, NY 13057 |
8.93% | |||
National
Financial Services LLC
499 Washington Blvd Jersey City, NJ 07310 |
7.73% | |||
JPMorgan
Chase Bank, National Association
500 Stanton Christiana Road Newark, DE 19713 |
7.56% | |||
BNP
Paribas, New York Branch/Custody Services
525 Washington BLVD. Jersey City, NJ 07310 |
6.73% | |||
Morgan
Stanley Smith Barney LLC
One New York Plaza New York, NY 10004 |
5.24% | |||
iShares Global Infrastructure ETF |
JPMorgan
Chase Bank, National Association
500 Stanton Christiana Road Newark, DE 19713 |
24.26% |
Fund | Name |
Percentage
of Ownership |
||
Northern
Trust Company (The)
801 South Canal Street Chicago, IL 60607 |
24.12% | |||
The
Bank of New York Mellon
111 Sanders Creek Parkway 2nd Floor East Syracuse, NY 13057 |
9.86% | |||
State
Street Bank and Trust Company
1776 Heritage Drive North Quincy, MA 02171 |
5.75% | |||
iShares Global Utilities ETF |
National
Financial Services LLC
499 Washington Blvd Jersey City, NJ 07310 |
12.92% | ||
Charles
Schwab & Co., Inc.
101 Montgomery Street San Francisco, CA 94014 |
12.02% | |||
Morgan
Stanley Smith Barney LLC
One New York Plaza New York, NY 10004 |
7.86% | |||
J.P.
Morgan Securities, LLC/JPMC
500 Stanton Christiana Road Newark, DE 19713 |
7.59% | |||
The
Bank of New York Mellon
111 Sanders Creek Parkway 2nd Floor East Syracuse, NY 13057 |
5.63% | |||
Merrill
Lynch, Pierce, Fenner & Smith Incorporated - TS Sub
101 Hudson Street 9th Floor Jersey City, NJ 07302-3997 |
5.29% | |||
iShares International Developed Property ETF |
Charles
Schwab & Co., Inc.
101 Montgomery Street San Francisco, CA 94014 |
24.72% | ||
National
Financial Services LLC
499 Washington Blvd Jersey City, NJ 07310 |
15.63% | |||
TD
Ameritrade Clearing, Inc.
4700 Alliance Gateway Freeway Fort Worth, TX 76177 |
7.90% | |||
JPMorgan
Chase Bank, National Association
500 Stanton Christiana Road Newark, DE 19713 |
6.07% | |||
Morgan
Stanley Smith Barney LLC
One New York Plaza New York, NY 10004 |
5.99% | |||
Fund | Name |
Percentage
of Ownership |
||
iShares International Preferred Stock ETF |
National
Financial Services LLC
499 Washington Blvd Jersey City, NJ 07310 |
14.38% | ||
Charles
Schwab & Co., Inc.
101 Montgomery Street San Francisco, CA 94014 |
11.69% | |||
TD
Ameritrade Clearing, Inc.
4700 Alliance Gateway Freeway Fort Worth, TX 76177 |
9.60% | |||
Merrill
Lynch, Pierce, Fenner & Smith Incorporated - TS Sub
101 Hudson Street 9th Floor Jersey City, NJ 07302-3997 |
8.23% | |||
Morgan
Stanley Smith Barney LLC
One New York Plaza New York, NY 10004 |
8.13% | |||
RBC
Dominion Securities, Inc.
200 Bay Street, 6th Floor Royal Bank Plaza North Tower Toronto, ON M5J 2W7 |
5.47% | |||
iShares JPX-Nikkei 400 ETF |
J.P.
Morgan Securities, LLC/JPMC
500 Stanton Christiana Road Newark, DE 19713 |
16.15% | ||
Merrill
Lynch, Pierce, Fenner & Smith Incorporated
101 Hudson Street 9th Floor Jersey City, NJ 07302-3997 |
14.20% | |||
Northern
Trust Company (The)
801 South Canal Street Chicago, IL 60607 |
12.41% | |||
Morgan
Stanley Smith Barney LLC
One New York Plaza New York, NY 10004 |
10.93% | |||
Charles
Schwab & Co., Inc.
101 Montgomery Street San Francisco, CA 94014 |
5.83% | |||
National
Financial Services LLC
499 Washington Blvd Jersey City, NJ 07310 |
5.13% | |||
iShares Micro-Cap ETF |
Charles
Schwab & Co., Inc.
101 Montgomery Street San Francisco, CA 94014 |
27.22% | ||
National
Financial Services LLC
499 Washington Blvd Jersey City, NJ 07310 |
21.69% |
Fund | Name |
Percentage
of Ownership |
||
TD
Ameritrade Clearing, Inc.
4700 Alliance Gateway Freeway Fort Worth, TX 76177 |
10.73% | |||
State
Street Bank and Trust Company
1776 Heritage Drive North Quincy, MA 02171 |
8.17% | |||
iShares Mortgage Real Estate ETF |
National
Financial Services LLC
499 Washington Blvd Jersey City, NJ 07310 |
15.89% | ||
Charles
Schwab & Co., Inc.
101 Montgomery Street San Francisco, CA 94014 |
11.30% | |||
TD
Ameritrade Clearing, Inc.
4700 Alliance Gateway Freeway Fort Worth, TX 76177 |
8.34% | |||
BlackRock
Institutional Trust Company, N.A.
400 Howard Street San Francisco, CA 94105 |
6.90% | |||
Morgan
Stanley Smith Barney LLC
One New York Plaza New York, NY 10004 |
6.42% | |||
Pershing
LLC
One Pershing Plaza Jersey City, NJ 07399 |
5.98% | |||
Merrill
Lynch, Pierce, Fenner & Smith Incorporated - TS Sub
101 Hudson Street 9th Floor Jersey City, NJ 07302-3997 |
5.77% | |||
Citibank,
N.A.
3800 CitiBank Center Tampa Building B/1st Floor Zone 8 Tampa, FL 33610-9122 |
5.33% | |||
iShares Nasdaq Biotechnology ETF |
Merrill
Lynch, Pierce, Fenner & Smith Incorporated - TS Sub
101 Hudson Street 9th Floor Jersey City, NJ 07302-3997 |
18.95% | ||
National
Financial Services LLC
499 Washington Blvd Jersey City, NJ 07310 |
11.99% | |||
Charles
Schwab & Co., Inc.
101 Montgomery Street San Francisco, CA 94014 |
10.86% | |||
Morgan
Stanley Smith Barney LLC
One New York Plaza New York, NY 10004 |
7.68% |
Fund | Name |
Percentage
of Ownership |
||
TD
Ameritrade Clearing, Inc.
4700 Alliance Gateway Freeway Fort Worth, TX 76177 |
6.22% | |||
iShares North American Natural Resources ETF |
Morgan
Stanley Smith Barney LLC
One New York Plaza New York, NY 10004 |
12.53% | ||
National
Financial Services LLC
499 Washington Blvd Jersey City, NJ 07310 |
11.72% | |||
Charles
Schwab & Co., Inc.
101 Montgomery Street San Francisco, CA 94014 |
11.04% | |||
U.S.
Bank N.A.
1555 North Rivercenter Dr. Suite 302 Milwaukee, WI 53212 |
7.87% | |||
State
Street Bank and Trust Company
1776 Heritage Drive North Quincy, MA 02171 |
6.64% | |||
Merrill
Lynch, Pierce, Fenner & Smith Incorporated - TS Sub
101 Hudson Street 9th Floor Jersey City, NJ 07302-3997 |
6.15% | |||
TD
Ameritrade Clearing, Inc.
4700 Alliance Gateway Freeway Fort Worth, TX 76177 |
5.73% | |||
Pershing
LLC
One Pershing Plaza Jersey City, NJ 07399 |
5.58% | |||
VANGUARD
Marketing Corporation
100 Vanguard Boulevard Malvern, PA 19355 |
5.52% | |||
iShares North American Tech-Multimedia Networking ETF |
Merrill
Lynch, Pierce, Fenner & Smith Incorporated - TS Sub
101 Hudson Street 9th Floor Jersey City, NJ 07302-3997 |
13.22% | ||
National
Financial Services LLC
499 Washington Blvd Jersey City, NJ 07310 |
12.91% | |||
Morgan
Stanley Smith Barney LLC
One New York Plaza New York, NY 10004 |
8.95% | |||
Charles
Schwab & Co., Inc.
101 Montgomery Street San Francisco, CA 94014 |
8.42% |
Fund | Name |
Percentage
of Ownership |
||
Wells
Fargo Clearing Services LLC
2801 Market Street St Louis, MO 63103 |
8.14% | |||
Merrill
Lynch, Pierce, Fenner & Smith Incorporated
101 Hudson Street 9th Floor Jersey City, NJ 07302-3997 |
7.69% | |||
TD
Ameritrade Clearing, Inc.
4700 Alliance Gateway Freeway Fort Worth, TX 76177 |
5.75% | |||
iShares PHLX Semiconductor ETF |
National
Financial Services LLC
499 Washington Blvd Jersey City, NJ 07310 |
20.42% | ||
Charles
Schwab & Co., Inc.
101 Montgomery Street San Francisco, CA 94014 |
9.24% | |||
JPMorgan
Chase Bank, National Association
500 Stanton Christiana Road Newark, DE 19713 |
7.57% | |||
Merrill
Lynch, Pierce, Fenner & Smith Incorporated - TS Sub
101 Hudson Street 9th Floor Jersey City, NJ 07302-3997 |
6.58% | |||
Citibank,
N.A.
3800 CitiBank Center Tampa Building B/1st Floor Zone 8 Tampa, FL 33610-9122 |
6.09% | |||
The
Bank of New York Mellon
111 Sanders Creek Parkway 2nd Floor East Syracuse, NY 13057 |
5.39% | |||
iShares Preferred and Income Securities ETF |
National
Financial Services LLC
499 Washington Blvd Jersey City, NJ 07310 |
17.30% | ||
Charles
Schwab & Co., Inc.
101 Montgomery Street San Francisco, CA 94014 |
12.59% | |||
Merrill
Lynch, Pierce, Fenner & Smith Incorporated - TS Sub
101 Hudson Street 9th Floor Jersey City, NJ 07302-3997 |
6.56% | |||
Wells
Fargo Clearing Services LLC
2801 Market Street St Louis, MO 63103 |
6.28% |
Fund | Name |
Percentage
of Ownership |
||
TD
Ameritrade Clearing, Inc.
4700 Alliance Gateway Freeway Fort Worth, TX 76177 |
6.20% | |||
Morgan
Stanley Smith Barney LLC
One New York Plaza New York, NY 10004 |
5.50% | |||
iShares Residential Real Estate ETF |
National
Financial Services LLC
499 Washington Blvd Jersey City, NJ 07310 |
22.07% | ||
Charles
Schwab & Co., Inc.
101 Montgomery Street San Francisco, CA 94014 |
13.42% | |||
TD
Ameritrade Clearing, Inc.
4700 Alliance Gateway Freeway Fort Worth, TX 76177 |
8.85% | |||
Merrill
Lynch, Pierce, Fenner & Smith Incorporated - TS Sub
101 Hudson Street 9th Floor Jersey City, NJ 07302-3997 |
7.24% | |||
Pershing
LLC
One Pershing Plaza Jersey City, NJ 07399 |
7.19% | |||
Ameriprise
Enterprise Investment Services, Inc.
901 3rd Avenue South Minneapolis, MN 55474 |
5.98% | |||
iShares Russell 1000 ETF |
National
Financial Services LLC
499 Washington Blvd Jersey City, NJ 07310 |
18.23% | ||
Charles
Schwab & Co., Inc.
101 Montgomery Street San Francisco, CA 94014 |
14.61% | |||
Pershing
LLC
One Pershing Plaza Jersey City, NJ 07399 |
6.67% | |||
Edward
D. Jones & Co.
12555 Manchester Road Saint Louis, MO 63131 |
5.91% | |||
The
Bank of New York Mellon
111 Sanders Creek Parkway 2nd Floor East Syracuse, NY 13057 |
5.73% | |||
iShares Russell 1000 Growth ETF |
Merrill
Lynch, Pierce, Fenner & Smith Incorporated - TS Sub
101 Hudson Street 9th Floor Jersey City, NJ 07302-3997 |
15.17% |
Fund | Name |
Percentage
of Ownership |
||
National
Financial Services LLC
499 Washington Blvd Jersey City, NJ 07310 |
14.83% | |||
Morgan
Stanley Smith Barney LLC
One New York Plaza New York, NY 10004 |
9.89% | |||
Charles
Schwab & Co., Inc.
101 Montgomery Street San Francisco, CA 94014 |
7.64% | |||
Pershing
LLC
One Pershing Plaza Jersey City, NJ 07399 |
5.25% | |||
iShares Russell 1000 Pure U.S. Revenue ETF |
Merrill
Lynch, Pierce, Fenner & Smith Incorporated
101 Hudson Street 9th Floor Jersey City, NJ 07302-3997 |
40.97% | ||
LPL
Financial Corporation
9785 Towne Centre Drive San Diego, CA 92121-1968 |
11.20% | |||
Morgan
Stanley Smith Barney LLC
One New York Plaza New York, NY 10004 |
8.35% | |||
Merrill
Lynch, Pierce, Fenner & Smith Incorporated - TS Sub
101 Hudson Street 9th Floor Jersey City, NJ 07302-3997 |
8.20% | |||
TD
Ameritrade Clearing, Inc.
4700 Alliance Gateway Freeway Fort Worth, TX 76177 |
5.82% | |||
iShares Russell 1000 Value ETF |
Merrill
Lynch, Pierce, Fenner & Smith Incorporated - TS Sub
101 Hudson Street 9th Floor Jersey City, NJ 07302-3997 |
16.04% | ||
Morgan
Stanley Smith Barney LLC
One New York Plaza New York, NY 10004 |
12.14% | |||
National
Financial Services LLC
499 Washington Blvd Jersey City, NJ 07310 |
11.40% | |||
TD
Ameritrade Clearing, Inc.
4700 Alliance Gateway Freeway Fort Worth, TX 76177 |
7.06% | |||
Charles
Schwab & Co., Inc.
101 Montgomery Street San Francisco, CA 94014 |
5.36% |
Fund | Name |
Percentage
of Ownership |
||
Edward
D. Jones & Co.
12555 Manchester Road Saint Louis, MO 63131 |
5.20% | |||
iShares Russell 2000 ETF |
Charles
Schwab & Co., Inc.
101 Montgomery Street San Francisco, CA 94014 |
11.66% | ||
National
Financial Services LLC
499 Washington Blvd Jersey City, NJ 07310 |
10.78% | |||
Bank
of America, National Association
GWIM TRUST OPERATIONS 411 N. Akard Street 5th Floor Dallas, TX 75201 |
6.76% | |||
Wells
Fargo Clearing Services LLC
2801 Market Street St Louis, MO 63103 |
6.55% | |||
iShares Russell 2000 Growth ETF |
National
Financial Services LLC
499 Washington Blvd Jersey City, NJ 07310 |
11.19% | ||
Charles
Schwab & Co., Inc.
101 Montgomery Street San Francisco, CA 94014 |
10.63% | |||
Morgan
Stanley Smith Barney LLC
One New York Plaza New York, NY 10004 |
9.98% | |||
Pershing
LLC
One Pershing Plaza Jersey City, NJ 07399 |
6.49% | |||
TD
Ameritrade Clearing, Inc.
4700 Alliance Gateway Freeway Fort Worth, TX 76177 |
5.78% | |||
iShares Russell 2000 Value ETF |
Morgan
Stanley Smith Barney LLC
One New York Plaza New York, NY 10004 |
12.89% | ||
National
Financial Services LLC
499 Washington Blvd Jersey City, NJ 07310 |
12.39% | |||
Charles
Schwab & Co., Inc.
101 Montgomery Street San Francisco, CA 94014 |
10.31% | |||
Edward
D. Jones & Co.
12555 Manchester Road Saint Louis, MO 63131 |
7.52% | |||
Pershing
LLC
One Pershing Plaza Jersey City, NJ 07399 |
5.65% |
Fund | Name |
Percentage
of Ownership |
||
iShares Russell 3000 ETF |
National
Financial Services LLC
499 Washington Blvd Jersey City, NJ 07310 |
18.14% | ||
Charles
Schwab & Co., Inc.
101 Montgomery Street San Francisco, CA 94014 |
14.98% | |||
Northern
Trust Company (The)
801 South Canal Street Chicago, IL 60607 |
6.09% | |||
Pershing
LLC
One Pershing Plaza Jersey City, NJ 07399 |
5.71% | |||
Merrill
Lynch, Pierce, Fenner & Smith Incorporated - TS Sub
101 Hudson Street 9th Floor Jersey City, NJ 07302-3997 |
5.20% | |||
iShares Russell Mid-Cap ETF |
Bank
of America, National Association
GWIM TRUST OPERATIONS 411 N. Akard Street 5th Floor Dallas, TX 75201 |
13.26% | ||
National
Financial Services LLC
499 Washington Blvd Jersey City, NJ 07310 |
8.01% | |||
Charles
Schwab & Co., Inc.
101 Montgomery Street San Francisco, CA 94014 |
6.99% | |||
Wells
Fargo Clearing Services LLC
2801 Market Street St Louis, MO 63103 |
6.77% | |||
Wells
Fargo Bank, National Association
733 Marquette Ave 4th Floor Minneapolis, MN 55402 |
6.03% | |||
iShares Russell Mid-Cap Growth ETF |
National
Financial Services LLC
499 Washington Blvd Jersey City, NJ 07310 |
11.66% | ||
Pershing
LLC
One Pershing Plaza Jersey City, NJ 07399 |
11.18% | |||
Morgan
Stanley Smith Barney LLC
One New York Plaza New York, NY 10004 |
9.91% | |||
Charles
Schwab & Co., Inc.
101 Montgomery Street San Francisco, CA 94014 |
8.69% |
Fund | Name |
Percentage
of Ownership |
||
Wells
Fargo Clearing Services LLC
2801 Market Street St Louis, MO 63103 |
6.27% | |||
iShares Russell Mid-Cap Value ETF |
Pershing
LLC
One Pershing Plaza Jersey City, NJ 07399 |
16.11% | ||
National
Financial Services LLC
499 Washington Blvd Jersey City, NJ 07310 |
10.63% | |||
Morgan
Stanley Smith Barney LLC
One New York Plaza New York, NY 10004 |
10.34% | |||
Edward
D. Jones & Co.
12555 Manchester Road Saint Louis, MO 63131 |
8.33% | |||
Charles
Schwab & Co., Inc.
101 Montgomery Street San Francisco, CA 94014 |
6.73% | |||
iShares Russell Top 200 ETF |
BMO
Harris Bank N.A.
111 West Monroe Street, Floor 6E Chicago, IL 60690 |
21.84% | ||
National
Financial Services LLC
499 Washington Blvd Jersey City, NJ 07310 |
16.58% | |||
JPMorgan
Chase Bank, National Association
500 Stanton Christiana Road Newark, DE 19713 |
8.88% | |||
The
Bank of New York Mellon
111 Sanders Creek Parkway 2nd Floor East Syracuse, NY 13057 |
8.18% | |||
Merrill
Lynch, Pierce, Fenner & Smith Incorporated - TS Sub
101 Hudson Street 9th Floor Jersey City, NJ 07302-3997 |
8.16% | |||
Charles
Schwab & Co., Inc.
101 Montgomery Street San Francisco, CA 94014 |
6.11% | |||
Reliance
Trust Company, FIS TrustDesk MKE
11277 West Park Place, Suite 300 Milwaukee, WI 53224 |
5.76% | |||
TD
Ameritrade Clearing, Inc.
4700 Alliance Gateway Freeway Fort Worth, TX 76177 |
5.08% | |||
iShares Russell Top 200 Growth ETF |
National
Financial Services LLC
499 Washington Blvd Jersey City, NJ 07310 |
21.00% |
Fund | Name |
Percentage
of Ownership |
||
TD
Ameritrade Clearing, Inc.
4700 Alliance Gateway Freeway Fort Worth, TX 76177 |
11.39% | |||
Charles
Schwab & Co., Inc.
101 Montgomery Street San Francisco, CA 94014 |
10.02% | |||
Morgan
Stanley Smith Barney LLC
One New York Plaza New York, NY 10004 |
5.96% | |||
SEI
Private Trust Company/C/O GWP
1 Freedom Valley Drive Oaks, PA 19456 |
5.76% | |||
Ameriprise
Enterprise Investment Services, Inc.
901 3rd Avenue South Minneapolis, MN 55474 |
5.68% | |||
Reliance
Trust Company, FIS TrustDesk MKE
11277 West Park Place, Suite 300 Milwaukee, WI 53224 |
5.45% | |||
Merrill
Lynch, Pierce, Fenner & Smith Incorporated - TS Sub
101 Hudson Street 9th Floor Jersey City, NJ 07302-3997 |
5.14% | |||
iShares Russell Top 200 Value ETF |
National
Financial Services LLC
499 Washington Blvd Jersey City, NJ 07310 |
19.80% | ||
SEI
Private Trust Company/C/O GWP
1 Freedom Valley Drive Oaks, PA 19456 |
18.06% | |||
TD
Ameritrade Clearing, Inc.
4700 Alliance Gateway Freeway Fort Worth, TX 76177 |
15.92% | |||
Reliance
Trust Company, FIS TrustDesk MKE
11277 West Park Place, Suite 300 Milwaukee, WI 53224 |
12.43% | |||
UBS
Financial Services Inc.
1000 Harbor Blvd. Weehawken, NJ 07086 |
9.67% | |||
Merrill
Lynch, Pierce, Fenner & Smith Incorporated - TS Sub
101 Hudson Street 9th Floor Jersey City, NJ 07302-3997 |
5.14% | |||
iShares S&P 100 ETF |
National
Financial Services LLC
499 Washington Blvd Jersey City, NJ 07310 |
13.16% | ||
Charles
Schwab & Co., Inc.
101 Montgomery Street San Francisco, CA 94014 |
11.44% |
Fund | Name |
Percentage
of Ownership |
||
Merrill
Lynch, Pierce, Fenner & Smith Incorporated - TS Sub
101 Hudson Street 9th Floor Jersey City, NJ 07302-3997 |
10.49% | |||
Edward
D. Jones & Co.
12555 Manchester Road Saint Louis, MO 63131 |
10.38% | |||
Bank
of America, National Association
GWIM TRUST OPERATIONS 411 N. Akard Street 5th Floor Dallas, TX 75201 |
8.03% | |||
iShares S&P 500 Growth ETF |
National
Financial Services LLC
499 Washington Blvd Jersey City, NJ 07310 |
18.72% | ||
JPMorgan
Chase Bank, National Association
500 Stanton Christiana Road Newark, DE 19713 |
10.85% | |||
Charles
Schwab & Co., Inc.
101 Montgomery Street San Francisco, CA 94014 |
9.12% | |||
Morgan
Stanley Smith Barney LLC
One New York Plaza New York, NY 10004 |
8.81% | |||
TD
Ameritrade Clearing, Inc.
4700 Alliance Gateway Freeway Fort Worth, TX 76177 |
5.41% | |||
Merrill
Lynch, Pierce, Fenner & Smith Incorporated - TS Sub
101 Hudson Street 9th Floor Jersey City, NJ 07302-3997 |
5.34% | |||
Edward
D. Jones & Co.
12555 Manchester Road Saint Louis, MO 63131 |
5.07% | |||
iShares S&P 500 Value ETF |
National
Financial Services LLC
499 Washington Blvd Jersey City, NJ 07310 |
18.56% | ||
JPMorgan
Chase Bank, National Association
500 Stanton Christiana Road Newark, DE 19713 |
16.29% | |||
Morgan
Stanley Smith Barney LLC
One New York Plaza New York, NY 10004 |
10.12% | |||
Charles
Schwab & Co., Inc.
101 Montgomery Street San Francisco, CA 94014 |
7.71% |
Fund | Name |
Percentage
of Ownership |
||
Merrill
Lynch, Pierce, Fenner & Smith Incorporated - TS Sub
101 Hudson Street 9th Floor Jersey City, NJ 07302-3997 |
5.88% | |||
TD
Ameritrade Clearing, Inc.
4700 Alliance Gateway Freeway Fort Worth, TX 76177 |
5.03% | |||
iShares S&P Mid-Cap 400 Growth ETF |
National
Financial Services LLC
499 Washington Blvd Jersey City, NJ 07310 |
14.68% | ||
Morgan
Stanley Smith Barney LLC
One New York Plaza New York, NY 10004 |
9.78% | |||
Wells
Fargo Bank, National Association
733 Marquette Ave 4th Floor Minneapolis, MN 55402 |
8.80% | |||
Charles
Schwab & Co., Inc.
101 Montgomery Street San Francisco, CA 94014 |
8.70% | |||
TD
Ameritrade Clearing, Inc.
4700 Alliance Gateway Freeway Fort Worth, TX 76177 |
6.04% | |||
Wells
Fargo Clearing Services LLC
2801 Market Street St Louis, MO 63103 |
5.88% | |||
iShares S&P Mid-Cap 400 Value ETF |
National
Financial Services LLC
499 Washington Blvd Jersey City, NJ 07310 |
18.52% | ||
Charles
Schwab & Co., Inc.
101 Montgomery Street San Francisco, CA 94014 |
9.20% | |||
Morgan
Stanley Smith Barney LLC
One New York Plaza New York, NY 10004 |
8.69% | |||
Wells
Fargo Bank, National Association
733 Marquette Ave 4th Floor Minneapolis, MN 55402 |
7.23% | |||
TD
Ameritrade Clearing, Inc.
4700 Alliance Gateway Freeway Fort Worth, TX 76177 |
6.43% | |||
Wells
Fargo Clearing Services LLC
2801 Market Street St Louis, MO 63103 |
5.47% | |||
Fund | Name |
Percentage
of Ownership |
||
iShares S&P Small-Cap 600 Growth ETF |
National
Financial Services LLC
499 Washington Blvd Jersey City, NJ 07310 |
21.95% | ||
Charles
Schwab & Co., Inc.
101 Montgomery Street San Francisco, CA 94014 |
10.76% | |||
Morgan
Stanley Smith Barney LLC
One New York Plaza New York, NY 10004 |
9.28% | |||
Pershing
LLC
One Pershing Plaza Jersey City, NJ 07399 |
5.44% | |||
TD
Ameritrade Clearing, Inc.
4700 Alliance Gateway Freeway Fort Worth, TX 76177 |
5.14% | |||
iShares S&P Small-Cap 600 Value ETF |
Edward
D. Jones & Co.
12555 Manchester Road Saint Louis, MO 63131 |
21.25% | ||
National
Financial Services LLC
499 Washington Blvd Jersey City, NJ 07310 |
19.01% | |||
Charles
Schwab & Co., Inc.
101 Montgomery Street San Francisco, CA 94014 |
13.86% | |||
Morgan
Stanley Smith Barney LLC
One New York Plaza New York, NY 10004 |
6.46% | |||
TD
Ameritrade Clearing, Inc.
4700 Alliance Gateway Freeway Fort Worth, TX 76177 |
5.31% | |||
iShares U.S. Aerospace & Defense ETF |
National
Financial Services LLC
499 Washington Blvd Jersey City, NJ 07310 |
13.86% | ||
Charles
Schwab & Co., Inc.
101 Montgomery Street San Francisco, CA 94014 |
9.83% | |||
Merrill
Lynch, Pierce, Fenner & Smith Incorporated - TS Sub
101 Hudson Street 9th Floor Jersey City, NJ 07302-3997 |
7.43% | |||
Morgan
Stanley Smith Barney LLC
One New York Plaza New York, NY 10004 |
6.67% | |||
American
Enterprise Investment Services Inc.
719 Griswold St. Detroit, MI 48226 |
6.64% |
Fund | Name |
Percentage
of Ownership |
||
TD
Ameritrade Clearing, Inc.
4700 Alliance Gateway Freeway Fort Worth, TX 76177 |
5.83% | |||
Pershing
LLC
One Pershing Plaza Jersey City, NJ 07399 |
5.44% | |||
Citibank,
N.A.
3800 CitiBank Center Tampa Building B/1st Floor Zone 8 Tampa, FL 33610-9122 |
5.43% | |||
iShares U.S. Broker-Dealers & Securities Exchanges ETF |
Morgan
Stanley Smith Barney LLC
One New York Plaza New York, NY 10004 |
18.41% | ||
National
Financial Services LLC
499 Washington Blvd Jersey City, NJ 07310 |
11.35% | |||
Charles
Schwab & Co., Inc.
101 Montgomery Street San Francisco, CA 94014 |
10.17% | |||
Wells
Fargo Clearing Services LLC
2801 Market Street St Louis, MO 63103 |
8.35% | |||
TD
Ameritrade Clearing, Inc.
4700 Alliance Gateway Freeway Fort Worth, TX 76177 |
7.48% | |||
iShares U.S. Healthcare Providers ETF |
National
Financial Services LLC
499 Washington Blvd Jersey City, NJ 07310 |
16.18% | ||
Charles
Schwab & Co., Inc.
101 Montgomery Street San Francisco, CA 94014 |
14.64% | |||
The
Bank of New York Mellon
111 Sanders Creek Parkway 2nd Floor East Syracuse, NY 13057 |
10.13% | |||
Citibank,
N.A.
3800 CitiBank Center Tampa Building B/1st Floor Zone 8 Tampa, FL 33610-9122 |
7.25% | |||
Morgan
Stanley Smith Barney LLC
One New York Plaza New York, NY 10004 |
6.87% | |||
Wells
Fargo Clearing Services LLC
2801 Market Street St Louis, MO 63103 |
5.19% | |||
iShares U.S. Home Construction ETF |
National
Financial Services LLC
499 Washington Blvd Jersey City, NJ 07310 |
11.96% |
Fund | Name |
Percentage
of Ownership |
||
The
Bank of New York Mellon
111 Sanders Creek Parkway 2nd Floor East Syracuse, NY 13057 |
9.87% | |||
Charles
Schwab & Co., Inc.
101 Montgomery Street San Francisco, CA 94014 |
9.74% | |||
JPMorgan
Chase Bank, National Association
500 Stanton Christiana Road Newark, DE 19713 |
7.92% | |||
TD
Ameritrade Clearing, Inc.
4700 Alliance Gateway Freeway Fort Worth, TX 76177 |
6.74% | |||
Citibank,
N.A.
3800 CitiBank Center Tampa Building B/1st Floor Zone 8 Tampa, FL 33610-9122 |
5.83% | |||
Morgan
Stanley Smith Barney LLC
One New York Plaza New York, NY 10004 |
5.63% | |||
Merrill
Lynch, Pierce, Fenner & Smith Incorporated - TS Sub
101 Hudson Street 9th Floor Jersey City, NJ 07302-3997 |
5.13% | |||
iShares U.S. Infrastructure ETF |
National
Financial Services LLC
499 Washington Blvd Jersey City, NJ 07310 |
18.14% | ||
Interactive
Brokers Retail Equity Clearing
8 Greenwich Office Park Greenwich, CT 06831 |
16.85% | |||
Charles
Schwab & Co., Inc.
101 Montgomery Street San Francisco, CA 94014 |
13.53% | |||
Pershing
LLC
One Pershing Plaza Jersey City, NJ 07399 |
7.71% | |||
Merrill
Lynch, Pierce, Fenner & Smith Incorporated - TS Sub
101 Hudson Street 9th Floor Jersey City, NJ 07302-3997 |
7.54% | |||
TD
Ameritrade Clearing, Inc.
4700 Alliance Gateway Freeway Fort Worth, TX 76177 |
6.71% | |||
iShares U.S. Insurance ETF |
TD
Ameritrade Clearing, Inc.
4700 Alliance Gateway Freeway Fort Worth, TX 76177 |
16.69% |
Fund | Name |
Percentage
of Ownership |
||
National
Financial Services LLC
499 Washington Blvd Jersey City, NJ 07310 |
15.66% | |||
Charles
Schwab & Co., Inc.
101 Montgomery Street San Francisco, CA 94014 |
10.04% | |||
Merrill
Lynch, Pierce, Fenner & Smith Incorporated - TS Sub
101 Hudson Street 9th Floor Jersey City, NJ 07302-3997 |
7.41% | |||
Morgan
Stanley Smith Barney LLC
One New York Plaza New York, NY 10004 |
7.19% | |||
Merrill
Lynch, Pierce, Fenner & Smith Incorporated
101 Hudson Street 9th Floor Jersey City, NJ 07302-3997 |
5.35% | |||
iShares U.S. Medical Devices ETF |
National
Financial Services LLC
499 Washington Blvd Jersey City, NJ 07310 |
17.95% | ||
Citibank,
N.A.
3800 CitiBank Center Tampa Building B/1st Floor Zone 8 Tampa, FL 33610-9122 |
10.37% | |||
Charles
Schwab & Co., Inc.
101 Montgomery Street San Francisco, CA 94014 |
9.17% | |||
TD
Ameritrade Clearing, Inc.
4700 Alliance Gateway Freeway Fort Worth, TX 76177 |
6.91% | |||
Pershing
LLC
One Pershing Plaza Jersey City, NJ 07399 |
5.38% | |||
iShares U.S. Oil & Gas Exploration & Production ETF |
National
Financial Services LLC
499 Washington Blvd Jersey City, NJ 07310 |
15.57% | ||
Morgan
Stanley Smith Barney LLC
One New York Plaza New York, NY 10004 |
10.35% | |||
Charles
Schwab & Co., Inc.
101 Montgomery Street San Francisco, CA 94014 |
8.72% | |||
Wells
Fargo Clearing Services LLC
2801 Market Street St Louis, MO 63103 |
7.12% |
Fund | Name |
Percentage
of Ownership |
||
Merrill
Lynch, Pierce, Fenner & Smith Incorporated - TS Sub
101 Hudson Street 9th Floor Jersey City, NJ 07302-3997 |
6.22% | |||
TD
Ameritrade Clearing, Inc.
4700 Alliance Gateway Freeway Fort Worth, TX 76177 |
5.64% | |||
iShares U.S. Oil Equipment & Services ETF |
Morgan
Stanley Smith Barney LLC
One New York Plaza New York, NY 10004 |
20.66% | ||
National
Financial Services LLC
499 Washington Blvd Jersey City, NJ 07310 |
12.05% | |||
Charles
Schwab & Co., Inc.
101 Montgomery Street San Francisco, CA 94014 |
11.03% | |||
Wells
Fargo Clearing Services LLC
2801 Market Street St Louis, MO 63103 |
8.92% | |||
Merrill
Lynch, Pierce, Fenner & Smith Incorporated - TS Sub
101 Hudson Street 9th Floor Jersey City, NJ 07302-3997 |
7.77% | |||
Citibank,
N.A.
3800 CitiBank Center Tampa Building B/1st Floor Zone 8 Tampa, FL 33610-9122 |
5.15% | |||
iShares U.S. Pharmaceuticals ETF |
National
Financial Services LLC
499 Washington Blvd Jersey City, NJ 07310 |
13.01% | ||
Citibank,
N.A.
3800 CitiBank Center Tampa Building B/1st Floor Zone 8 Tampa, FL 33610-9122 |
12.76% | |||
Charles
Schwab & Co., Inc.
101 Montgomery Street San Francisco, CA 94014 |
10.85% | |||
TD
Ameritrade Clearing, Inc.
4700 Alliance Gateway Freeway Fort Worth, TX 76177 |
8.32% | |||
Morgan
Stanley Smith Barney LLC
One New York Plaza New York, NY 10004 |
5.95% |
Fund | Name |
Percentage
of Ownership |
||
Merrill
Lynch, Pierce, Fenner & Smith Incorporated - TS Sub
101 Hudson Street 9th Floor Jersey City, NJ 07302-3997 |
5.03% | |||
iShares U.S. Real Estate ETF |
National
Financial Services LLC
499 Washington Blvd Jersey City, NJ 07310 |
13.09% | ||
Charles
Schwab & Co., Inc.
101 Montgomery Street San Francisco, CA 94014 |
7.65% | |||
JPMorgan
Chase Bank, National Association
500 Stanton Christiana Road Newark, DE 19713 |
5.84% | |||
Morgan
Stanley & Co. Incorporated
One Pierrepont Plaza 8th Floor Brooklyn, NY 11201 |
5.82% | |||
iShares U.S. Regional Banks ETF |
National
Financial Services LLC
499 Washington Blvd Jersey City, NJ 07310 |
13.99% | ||
Charles
Schwab & Co., Inc.
101 Montgomery Street San Francisco, CA 94014 |
12.73% | |||
Merrill
Lynch, Pierce, Fenner & Smith Incorporated - TS Sub
101 Hudson Street 9th Floor Jersey City, NJ 07302-3997 |
10.56% | |||
Morgan
Stanley Smith Barney LLC
One New York Plaza New York, NY 10004 |
6.09% | |||
Pershing
LLC
One Pershing Plaza Jersey City, NJ 07399 |
5.23% | |||
iShares U.S. Telecommunications ETF |
Morgan
Stanley & Co. Incorporated
One Pierrepont Plaza 8th Floor Brooklyn, NY 11201 |
19.22% | ||
Morgan
Stanley Smith Barney LLC
One New York Plaza New York, NY 10004 |
12.75% | |||
National
Financial Services LLC
499 Washington Blvd Jersey City, NJ 07310 |
10.23% | |||
Charles
Schwab & Co., Inc.
101 Montgomery Street San Francisco, CA 94014 |
8.43% |
Fund | Name |
Percentage
of Ownership |
||
Merrill
Lynch, Pierce, Fenner & Smith Incorporated - TS Sub
101 Hudson Street 9th Floor Jersey City, NJ 07302-3997 |
8.20% | |||
TD
Ameritrade Clearing, Inc.
4700 Alliance Gateway Freeway Fort Worth, TX 76177 |
7.41% |
Fund |
Management
Fee for the Fiscal Year Ended March 31, 2020 |
Fund
Inception Date |
Management
Fees Paid Net of Waivers for Fiscal Year Ended March 31, 2020 |
Management
Fees Paid Net of Waivers for Fiscal Year Ended March 31, 2019 |
Management
Fees Paid Net of Waivers for Fiscal Year Ended March 31, 2018 |
|||||
iShares Core S&P 500 ETF1 | 0.04% | 05/15/00 | $ 74,924,021 | $ 62,132,849 | $ 51,925,165 | |||||
iShares Core S&P Mid-Cap ETF2 | 0.06% | 05/22/00 | 33,218,024 | 32,885,361 | 29,103,281 | |||||
iShares Core S&P Small-Cap ETF3 | 0.07% | 05/22/00 | 30,926,871 | 29,770,009 | 23,194,395 | |||||
iShares Core S&P Total U.S. Stock Market ETF | 0.03% | 01/20/04 | 6,752,170 | 4,621,214 | 3,314,642 | |||||
iShares Core S&P U.S. Growth ETF4,5 | 0.04% | 07/24/00 | 2,802,987 | 2,053,877 | 1,420,625 | |||||
iShares Core S&P U.S. Value ETF6,7 | 0.04% | 07/24/00 | 2,410,447 | 1,821,335 | 1,302,383 | |||||
iShares Europe ETF | 0.59% | 07/25/00 | 10,144,672 | 13,701,876 | 17,904,743 | |||||
iShares Expanded Tech Sector ETF | 0.46% | 03/13/01 | 7,891,981 | 7,000,292 | 5,958,021 | |||||
iShares Expanded Tech-Software Sector ETF | 0.46% | 07/10/01 | 12,995,214 | 9,059,494 | 5,157,877 | |||||
iShares Factors US Blend Style ETF | 0.25% | 04/14/20 | N/A | N/A | N/A | |||||
iShares Factors US Growth Style ETF | 0.25% | 01/14/20 | 2,452 | N/A | N/A | |||||
iShares Factors US Mid Blend Style ETF | 0.30% | 04/14/20 | N/A | N/A | N/A | |||||
iShares Factors US Small Blend Style ETF | 0.35% | 04/14/20 | N/A | N/A | N/A | |||||
iShares Factors US Value Style ETF | 0.25% | 01/14/20 | 2,360 | N/A | N/A | |||||
iShares Focused Value Factor ETF | 0.25% | 03/19/19 | 75,293 | 2,584 | N/A | |||||
iShares Global 100 ETF | 0.40% | 12/05/00 | 8,239,730 | 7,467,525 | 6,896,201 | |||||
iShares Global Clean Energy ETF | 0.46% | 06/24/08 | 1,653,503 | 801,229 | 534,573 | |||||
iShares Global Comm Services ETF | 0.46% | 11/12/01 | 1,154,795 | 1,389,217 | 1,671,496 | |||||
iShares Global Consumer Discretionary ETF | 0.46% | 09/12/06 | 975,752 | 1,219,886 | 1,119,775 | |||||
iShares Global Consumer Staples ETF | 0.46% | 09/12/06 | 3,590,044 | 2,775,830 | 2,853,798 | |||||
iShares Global Energy ETF | 0.46% | 11/12/01 | 4,063,298 | 6,618,817 | 4,478,505 | |||||
iShares Global Financials ETF | 0.46% | 11/12/01 | 1,605,234 | 2,193,570 | 2,307,119 | |||||
iShares Global Industrials ETF | 0.46% | 09/12/06 | 1,037,852 | 1,066,835 | 1,221,906 | |||||
iShares Global Infrastructure ETF | 0.46% | 12/10/07 | 14,567,869 | 12,129,701 | 8,965,841 | |||||
iShares Global Utilities ETF | 0.46% | 09/12/06 | 975,604 | 808,901 | 702,217 | |||||
iShares International Developed Property ETF | 0.48% | 07/30/07 | 573,387 | 740,643 | 762,521 | |||||
iShares International Preferred Stock ETF | 0.55% | 11/15/11 | 237,144 | 351,058 | 473,119 | |||||
iShares JPX-Nikkei 400 ETF | 0.48% | 10/23/01 | 504,105 | 552,066 | 451,025 | |||||
iShares Micro-Cap ETF | 0.60% | 08/12/05 | 4,949,924 | 5,879,853 | 5,138,410 | |||||
iShares Mortgage Real Estate ETF | 0.48% | 05/01/07 | 6,239,681 | 5,537,565 | 5,962,548 | |||||
iShares Nasdaq Biotechnology ETF | 0.46% | 02/05/01 | 33,317,845 | 40,352,267 | 43,746,610 | |||||
iShares North American Natural Resources ETF | 0.46% | 10/22/01 | 2,539,091 | 4,158,779 | 4,533,669 | |||||
iShares North American Tech-Multimedia Networking ETF | 0.46% | 07/10/01 | 440,707 | 295,744 | 300,944 | |||||
iShares PHLX Semiconductor ETF | 0.46% | 07/10/01 | 8,388,652 | 6,666,118 | 5,894,938 | |||||
iShares Preferred and Income Securities ETF | 0.46% | 03/26/07 | 74,532,199 | 71,662,596 | 82,622,370 | |||||
iShares Residential Real Estate ETF | 0.48% | 05/01/07 | 2,433,983 | 1,557,123 | 1,812,129 | |||||
iShares Russell 1000 ETF | 0.15% | 05/15/00 | 31,099,669 | 28,891,918 | 28,792,969 | |||||
iShares Russell 1000 Growth ETF | 0.19% | 05/22/00 | 88,623,531 | 81,066,625 | 73,498,356 | |||||
iShares Russell 1000 Pure U.S. Revenue ETF | 0.15% | 08/08/17 | 10,775 | 15,037 | 5,528 | |||||
iShares Russell 1000 Value ETF | 0.19% | 05/22/00 | 75,215,158 | 72,296,148 | 72,979,335 | |||||
iShares Russell 2000 ETF | 0.19% | 05/22/00 | 82,712,541 | 86,432,537 | 77,149,262 | |||||
iShares Russell 2000 Growth ETF | 0.24% | 07/24/00 | 21,923,827 | 23,820,419 | 20,593,602 | |||||
iShares Russell 2000 Value ETF | 0.24% | 07/24/00 | 21,691,959 | 23,374,879 | 21,455,988 | |||||
iShares Russell 3000 ETF | 0.20% | 05/22/00 | 19,171,357 | 17,791,366 | 15,997,885 | |||||
iShares Russell Mid-Cap ETF | 0.19% | 07/17/01 | 38,318,932 | 34,171,037 | 31,429,300 | |||||
iShares Russell Mid-Cap Growth ETF | 0.24% | 07/17/01 | 26,392,390 | 22,011,635 | 19,357,093 | |||||
iShares Russell Mid-Cap Value ETF | 0.24% | 07/17/01 | 26,350,943 | 26,404,854 | 24,642,865 | |||||
iShares Russell Top 200 ETF | 0.15% | 09/22/09 | 424,813 | 250,017 | 184,654 |
Fund |
Management
Fee for the Fiscal Year Ended March 31, 2020 |
Fund
Inception Date |
Management
Fees Paid Net of Waivers for Fiscal Year Ended March 31, 2020 |
Management
Fees Paid Net of Waivers for Fiscal Year Ended March 31, 2019 |
Management
Fees Paid Net of Waivers for Fiscal Year Ended March 31, 2018 |
|||||
iShares Russell Top 200 Growth ETF | 0.20% | 09/22/09 | 3,141,738 | 2,332,597 | 1,955,608 | |||||
iShares Russell Top 200 Value ETF | 0.20% | 09/22/09 | 932,744 | 687,009 | 516,159 | |||||
iShares S&P 100 ETF | 0.20% | 10/23/00 | 10,413,242 | 9,563,478 | 9,819,296 | |||||
iShares S&P 500 Growth ETF | 0.18% | 05/22/00 | 42,676,987 | 38,556,294 | 34,449,906 | |||||
iShares S&P 500 Value ETF | 0.18% | 05/22/00 | 28,889,406 | 27,220,301 | 25,612,646 | |||||
iShares S&P Mid-Cap 400 Growth ETF | 0.24% | 07/24/00 | 17,626,271 | 18,717,827 | 17,303,275 | |||||
iShares S&P Mid-Cap 400 Value ETF | 0.25% | 07/24/00 | 15,415,355 | 14,907,782 | 14,264,078 | |||||
iShares S&P Small-Cap 600 Growth ETF | 0.25% | 07/24/00 | 13,150,607 | 15,147,750 | 11,567,629 | |||||
iShares S&P Small-Cap 600 Value ETF | 0.25% | 07/24/00 | 15,214,258 | 15,183,210 | 12,329,979 | |||||
iShares U.S. Aerospace & Defense ETF | 0.42% | 05/01/06 | 21,997,510 | 23,331,067 | 18,067,188 | |||||
iShares U.S. Broker-Dealers & Securities Exchanges ETF | 0.42% | 05/01/06 | 993,296 | 1,386,691 | 784,511 | |||||
iShares U.S. Healthcare Providers ETF | 0.42% | 05/01/06 | 3,633,778 | 3,478,792 | 2,240,970 | |||||
iShares U.S. Home Construction ETF | 0.42% | 05/01/06 | 5,122,351 | 4,768,073 | 7,925,427 | |||||
iShares U.S. Infrastructure ETF | 0.40% | 04/03/18 | 25,910 | 13,679 | N/A | |||||
iShares U.S. Insurance ETF | 0.42% | 05/01/06 | 427,882 | 471,811 | 738,482 | |||||
iShares U.S. Medical Devices ETF | 0.42% | 05/01/06 | 17,643,706 | 11,341,826 | 6,282,424 | |||||
iShares U.S. Oil & Gas Exploration & Production ETF | 0.42% | 05/01/06 | 924,540 | 1,841,405 | 1,633,437 | |||||
iShares U.S. Oil Equipment & Services ETF | 0.42% | 05/01/06 | 403,788 | 1,041,699 | 897,110 | |||||
iShares U.S. Pharmaceuticals ETF | 0.42% | 05/01/06 | 1,433,214 | 1,706,911 | 2,622,487 | |||||
iShares U.S. Real Estate ETF | 0.42% | 06/12/00 | 18,802,776 | 16,465,653 | 18,107,904 | |||||
iShares U.S. Regional Banks ETF | 0.42% | 05/01/06 | 1,770,835 | 3,277,841 | 3,183,852 | |||||
iShares U.S. Telecommunications ETF | 0.42% | 05/22/00 | 1,774,010 | 1,886,454 | 1,773,050 |
1 | Effective June 25, 2020, the management fee for the iShares Core S&P 500 ETF is 0.03%. Prior to June 25, 2020, the management fee for the iShares Core S&P 500 ETF was 0.04%. |
2 | Effective June 25, 2020, the management fee for the iShares Core S&P Mid-Cap ETF is 0.05%. From December 13, 2019 to June 24, 2020, the management fee for the iShares Core S&P Mid-Cap ETF was 0.06%. Prior to December 13, 2019, the management fee for the iShares Core S&P Mid-Cap ETF was 0.07%. |
3 | Effective June 25, 2020, the management fee for the iShares Core S&P Small-Cap ETF is 0.06%. Prior to June 25, 2020, the management fee for the iShares Core S&P Small-Cap ETF was 0.07%. |
4 | Effective June 26, 2018, the management fee for the iShares Core S&P U.S. Growth ETF is 0.04%. Prior to June 26, 2018, the management fee for the iShares Core S&P U.S. Growth ETF was 0.05%. |
5 | For the iShares Core S&P U.S. Growth ETF, BFA contractually agreed to waive a portion of its management fee such that the Fund’s total annual fund operating expenses after fee waiver will not exceed 0.04% effective June 1, 2018 through May 30, 2023. The contractual waiver was discontinued beginning on June 26, 2018. For the fiscal year ended March 31, 2019, BFA waived $29,398 of management fees. |
6 | Effective June 26, 2018, the management fee for the iShares Core S&P U.S. Value ETF is 0.04%. Prior to June 26, 2018, the management fee for the iShares Core S&P U.S. Value ETF was 0.05%. |
7 | For the iShares Core S&P U.S. Value ETF, BFA contractually agreed to waive a portion of its management fee such that the Fund’s total annual fund operating expenses after fee waiver will not exceed 0.04% effective June 1, 2018 through May 30, 2023. The contractual waiver was discontinued beginning on June 26, 2018. For the fiscal year ended March 31, 2019, BFA waived $26,299 of management fees. |
Rachel Aguirre | ||||
Types of Accounts | Number | Total Assets | ||
Registered Investment Companies | 249 | $ 504,415,000,000 | ||
Other Pooled Investment Vehicles | 150 | 512,873,000,000 | ||
Other Accounts | 123 | 440,978,000,000 |
Jennifer Hsui | ||||
Types of Accounts | Number | Total Assets | ||
Registered Investment Companies | 229 | $476,964,000,000 | ||
Other Pooled Investment Vehicles | 58 | 60,271,000,000 | ||
Other Accounts | 32 | 20,303,000,000 |
Alan Mason | ||||
Types of Accounts | Number | Total Assets | ||
Registered Investment Companies | 265 | $508,678,000,000 | ||
Other Pooled Investment Vehicles | 0 | N/A | ||
Other Accounts | 2 | 636,000,000 |
Greg Savage | ||||
Types of Accounts | Number | Total Assets | ||
Registered Investment Companies | 248 | $481,833,000,000 | ||
Other Pooled Investment Vehicles | 30 | 1,398,000,000 | ||
Other Accounts | 61 | 4,888,000,000 |
Amy Whitelaw | ||||
Types of Accounts | Number | Total Assets | ||
Registered Investment Companies | 222 | $442,507,000,000 | ||
Other Pooled Investment Vehicles | 86 | 26,327,000,000 | ||
Other Accounts | 3 | 89,000,000 |
Rachel Aguirre | ||||
Types of Accounts |
Number
of Other
Accounts with Performance Fees Managed by Portfolio Manager |
Aggregate
of Total Assets |
||
Registered Investment Companies | 0 | N/A | ||
Other Pooled Investment Vehicles | 0 | N/A | ||
Other Accounts | 0 | N/A |
Jennifer Hsui | ||||
Types of Accounts |
Number
of Other
Accounts with Performance Fees Managed by Portfolio Manager |
Aggregate
of Total Assets |
||
Registered Investment Companies | 0 | N/A | ||
Other Pooled Investment Vehicles | 0 | N/A | ||
Other Accounts | 0 | N/A |
Alan Mason | ||||
Types of Accounts |
Number
of Other
Accounts with Performance Fees Managed by Portfolio Manager |
Aggregate
of Total Assets |
||
Registered Investment Companies | 0 | N/A | ||
Other Pooled Investment Vehicles | 0 | N/A | ||
Other Accounts | 0 | N/A |
Greg Savage | ||||
Types of Accounts |
Number
of Other
Accounts with Performance Fees Managed by Portfolio Manager |
Aggregate
of Total Assets |
||
Registered Investment Companies | 0 | N/A | ||
Other Pooled Investment Vehicles | 0 | N/A | ||
Other Accounts | 0 | N/A |
Amy Whitelaw | ||||
Types of Accounts |
Number
of Other
Accounts with Performance Fees Managed by Portfolio Manager |
Aggregate
of Total Assets |
||
Registered Investment Companies | 0 | N/A | ||
Other Pooled Investment Vehicles | 0 | N/A | ||
Other Accounts | 0 | N/A |
Rachel Aguirre | |||||||||||||||
Dollar Range | |||||||||||||||
Fund | None | $1 to $10k |
$10,001
to $50k |
$50,001
to $100k |
$100,001
to $500k |
$500,001
to $1m |
over
$1m |
||||||||
iShares Core S&P 500 ETF | X | ||||||||||||||
iShares Core S&P Mid-Cap ETF | X | ||||||||||||||
iShares Core S&P Small-Cap ETF | X | ||||||||||||||
iShares Core S&P Total U.S. Stock Market ETF | X | ||||||||||||||
iShares Core S&P U.S. Growth ETF | X | ||||||||||||||
iShares Core S&P U.S. Value ETF | X | ||||||||||||||
iShares Europe ETF | X | ||||||||||||||
iShares Expanded Tech Sector ETF | X | ||||||||||||||
iShares Expanded Tech-Software Sector ETF | X | ||||||||||||||
iShares Factors US Blend Style ETF | X | ||||||||||||||
iShares Factors US Growth Style ETF | X | ||||||||||||||
iShares Factors US Mid Blend Style ETF | X | ||||||||||||||
iShares Factors US Small Blend Style ETF | X | ||||||||||||||
iShares Factors US Value Style ETF | X | ||||||||||||||
iShares Focused Value Factor ETF | X | ||||||||||||||
iShares Global 100 ETF | X | ||||||||||||||
iShares Global Clean Energy ETF | X | ||||||||||||||
iShares Global Comm Services ETF | X | ||||||||||||||
iShares Global Consumer Discretionary ETF | X | ||||||||||||||
iShares Global Consumer Staples ETF | X | ||||||||||||||
iShares Global Energy ETF | X | ||||||||||||||
iShares Global Financials ETF | X | ||||||||||||||
iShares Global Industrials ETF | X | ||||||||||||||
iShares Global Infrastructure ETF | X | ||||||||||||||
iShares Global Utilities ETF | X | ||||||||||||||
iShares International Developed Property ETF | X | ||||||||||||||
iShares International Preferred Stock ETF | X | ||||||||||||||
iShares JPX-Nikkei 400 ETF | X | ||||||||||||||
iShares Micro-Cap ETF | X | ||||||||||||||
iShares Mortgage Real Estate ETF | X | ||||||||||||||
iShares Nasdaq Biotechnology ETF | X | ||||||||||||||
iShares North American Natural Resources ETF | X | ||||||||||||||
iShares North American Tech-Multimedia Networking ETF | X | ||||||||||||||
iShares PHLX Semiconductor ETF | X | ||||||||||||||
iShares Preferred and Income Securities ETF | X | ||||||||||||||
iShares Residential Real Estate ETF | X | ||||||||||||||
iShares Russell 1000 ETF | X | ||||||||||||||
iShares Russell 1000 Growth ETF | X | ||||||||||||||
iShares Russell 1000 Pure U.S. Revenue ETF | X | ||||||||||||||
iShares Russell 1000 Value ETF | X | ||||||||||||||
iShares Russell 2000 ETF | X | ||||||||||||||
iShares Russell 2000 Growth ETF | X | ||||||||||||||
iShares Russell 2000 Value ETF | X | ||||||||||||||
iShares Russell 3000 ETF | X | ||||||||||||||
iShares Russell Mid-Cap ETF | X |
Rachel Aguirre | |||||||||||||||
Dollar Range | |||||||||||||||
Fund | None | $1 to $10k |
$10,001
to $50k |
$50,001
to $100k |
$100,001
to $500k |
$500,001
to $1m |
over
$1m |
||||||||
iShares Russell Mid-Cap Growth ETF | X | ||||||||||||||
iShares Russell Mid-Cap Value ETF | X | ||||||||||||||
iShares Russell Top 200 ETF | X | ||||||||||||||
iShares Russell Top 200 Growth ETF | X | ||||||||||||||
iShares Russell Top 200 Value ETF | X | ||||||||||||||
iShares S&P 100 ETF | X | ||||||||||||||
iShares S&P 500 Growth ETF | X | ||||||||||||||
iShares S&P 500 Value ETF | X | ||||||||||||||
iShares S&P Mid-Cap 400 Growth ETF | X | ||||||||||||||
iShares S&P Mid-Cap 400 Value ETF | X | ||||||||||||||
iShares S&P Small-Cap 600 Growth ETF | X | ||||||||||||||
iShares S&P Small-Cap 600 Value ETF | X | ||||||||||||||
iShares U.S. Aerospace & Defense ETF | X | ||||||||||||||
iShares U.S. Broker-Dealers & Securities Exchanges ETF | X | ||||||||||||||
iShares U.S. Healthcare Providers ETF | X | ||||||||||||||
iShares U.S. Home Construction ETF | X | ||||||||||||||
iShares U.S. Infrastructure ETF | X | ||||||||||||||
iShares U.S. Insurance ETF | X | ||||||||||||||
iShares U.S. Medical Devices ETF | X | ||||||||||||||
iShares U.S. Oil & Gas Exploration & Production ETF | X | ||||||||||||||
iShares U.S. Oil Equipment & Services ETF | X | ||||||||||||||
iShares U.S. Pharmaceuticals ETF | X | ||||||||||||||
iShares U.S. Real Estate ETF | X | ||||||||||||||
iShares U.S. Regional Banks ETF | X | ||||||||||||||
iShares U.S. Telecommunications ETF | X |
Jennifer Hsui | |||||||||||||||
Dollar Range | |||||||||||||||
Fund | None | $1 to $10k |
$10,001
to $50k |
$50,001
to $100k |
$100,001
to $500k |
$500,001
to $1m |
over
$1m |
||||||||
iShares Core S&P 500 ETF | X | ||||||||||||||
iShares Core S&P Mid-Cap ETF | X | ||||||||||||||
iShares Core S&P Small-Cap ETF | X | ||||||||||||||
iShares Core S&P Total U.S. Stock Market ETF | X | ||||||||||||||
iShares Core S&P U.S. Growth ETF | X | ||||||||||||||
iShares Core S&P U.S. Value ETF | X | ||||||||||||||
iShares Europe ETF | X | ||||||||||||||
iShares Expanded Tech Sector ETF | X | ||||||||||||||
iShares Expanded Tech-Software Sector ETF | X | ||||||||||||||
iShares Factors US Blend Style ETF | X | ||||||||||||||
iShares Factors US Growth Style ETF | X | ||||||||||||||
iShares Factors US Mid Blend Style ETF | X | ||||||||||||||
iShares Factors US Small Blend Style ETF | X |
Jennifer Hsui | |||||||||||||||
Dollar Range | |||||||||||||||
Fund | None | $1 to $10k |
$10,001
to $50k |
$50,001
to $100k |
$100,001
to $500k |
$500,001
to $1m |
over
$1m |
||||||||
iShares Factors US Value Style ETF | X | ||||||||||||||
iShares Focused Value Factor ETF | X | ||||||||||||||
iShares Global 100 ETF | X | ||||||||||||||
iShares Global Clean Energy ETF | X | ||||||||||||||
iShares Global Comm Services ETF | X | ||||||||||||||
iShares Global Consumer Discretionary ETF | X | ||||||||||||||
iShares Global Consumer Staples ETF | X | ||||||||||||||
iShares Global Energy ETF | X | ||||||||||||||
iShares Global Financials ETF | X | ||||||||||||||
iShares Global Industrials ETF | X | ||||||||||||||
iShares Global Infrastructure ETF | X | ||||||||||||||
iShares Global Utilities ETF | X | ||||||||||||||
iShares International Developed Property ETF | X | ||||||||||||||
iShares International Preferred Stock ETF | X | ||||||||||||||
iShares JPX-Nikkei 400 ETF | X | ||||||||||||||
iShares Micro-Cap ETF | X | ||||||||||||||
iShares Mortgage Real Estate ETF | X | ||||||||||||||
iShares Nasdaq Biotechnology ETF | X | ||||||||||||||
iShares North American Natural Resources ETF | X | ||||||||||||||
iShares North American Tech-Multimedia Networking ETF | X | ||||||||||||||
iShares PHLX Semiconductor ETF | X | ||||||||||||||
iShares Preferred and Income Securities ETF | X | ||||||||||||||
iShares Residential Real Estate ETF | X | ||||||||||||||
iShares Russell 1000 ETF | X | ||||||||||||||
iShares Russell 1000 Growth ETF | X | ||||||||||||||
iShares Russell 1000 Pure U.S. Revenue ETF | X | ||||||||||||||
iShares Russell 1000 Value ETF | X | ||||||||||||||
iShares Russell 2000 ETF | X | ||||||||||||||
iShares Russell 2000 Growth ETF | X | ||||||||||||||
iShares Russell 2000 Value ETF | X | ||||||||||||||
iShares Russell 3000 ETF | X | ||||||||||||||
iShares Russell Mid-Cap ETF | X | ||||||||||||||
iShares Russell Mid-Cap Growth ETF | X | ||||||||||||||
iShares Russell Mid-Cap Value ETF | X | ||||||||||||||
iShares Russell Top 200 ETF | X | ||||||||||||||
iShares Russell Top 200 Growth ETF | X | ||||||||||||||
iShares Russell Top 200 Value ETF | X | ||||||||||||||
iShares S&P 100 ETF | X | ||||||||||||||
iShares S&P 500 Growth ETF | X | ||||||||||||||
iShares S&P 500 Value ETF | X | ||||||||||||||
iShares S&P Mid-Cap 400 Growth ETF | X | ||||||||||||||
iShares S&P Mid-Cap 400 Value ETF | X | ||||||||||||||
iShares S&P Small-Cap 600 Growth ETF | X | ||||||||||||||
iShares S&P Small-Cap 600 Value ETF | X | ||||||||||||||
iShares U.S. Aerospace & Defense ETF | X |
Jennifer Hsui | |||||||||||||||
Dollar Range | |||||||||||||||
Fund | None | $1 to $10k |
$10,001
to $50k |
$50,001
to $100k |
$100,001
to $500k |
$500,001
to $1m |
over
$1m |
||||||||
iShares U.S. Broker-Dealers & Securities Exchanges ETF | X | ||||||||||||||
iShares U.S. Healthcare Providers ETF | X | ||||||||||||||
iShares U.S. Home Construction ETF | X | ||||||||||||||
iShares U.S. Infrastructure ETF | X | ||||||||||||||
iShares U.S. Insurance ETF | X | ||||||||||||||
iShares U.S. Medical Devices ETF | X | ||||||||||||||
iShares U.S. Oil & Gas Exploration & Production ETF | X | ||||||||||||||
iShares U.S. Oil Equipment & Services ETF | X | ||||||||||||||
iShares U.S. Pharmaceuticals ETF | X | ||||||||||||||
iShares U.S. Real Estate ETF | X | ||||||||||||||
iShares U.S. Regional Banks ETF | X | ||||||||||||||
iShares U.S. Telecommunications ETF | X |
Alan Mason | |||||||||||||||
Dollar Range | |||||||||||||||
Fund | None | $1 to $10k |
$10,001
to $50k |
$50,001
to $100k |
$100,001
to $500k |
$500,001
to $1m |
over
$1m |
||||||||
iShares Core S&P 500 ETF | X | ||||||||||||||
iShares Core S&P Mid-Cap ETF | X | ||||||||||||||
iShares Core S&P Small-Cap ETF | X | ||||||||||||||
iShares Core S&P Total U.S. Stock Market ETF | X | ||||||||||||||
iShares Core S&P U.S. Growth ETF | X | ||||||||||||||
iShares Core S&P U.S. Value ETF | X | ||||||||||||||
iShares Europe ETF | X | ||||||||||||||
iShares Expanded Tech Sector ETF | X | ||||||||||||||
iShares Expanded Tech-Software Sector ETF | X | ||||||||||||||
iShares Factors US Blend Style ETF | X | ||||||||||||||
iShares Factors US Growth Style ETF | X | ||||||||||||||
iShares Factors US Mid Blend Style ETF | X | ||||||||||||||
iShares Factors US Small Blend Style ETF | X | ||||||||||||||
iShares Factors US Value Style ETF | X | ||||||||||||||
iShares Focused Value Factor ETF | X | ||||||||||||||
iShares Global 100 ETF | X | ||||||||||||||
iShares Global Clean Energy ETF | X | ||||||||||||||
iShares Global Comm Services ETF | X | ||||||||||||||
iShares Global Consumer Discretionary ETF | X | ||||||||||||||
iShares Global Consumer Staples ETF | X | ||||||||||||||
iShares Global Energy ETF | X | ||||||||||||||
iShares Global Financials ETF | X | ||||||||||||||
iShares Global Industrials ETF | X | ||||||||||||||
iShares Global Infrastructure ETF | X | ||||||||||||||
iShares Global Utilities ETF | X | ||||||||||||||
iShares International Developed Property ETF | X |
Alan Mason | |||||||||||||||
Dollar Range | |||||||||||||||
Fund | None | $1 to $10k |
$10,001
to $50k |
$50,001
to $100k |
$100,001
to $500k |
$500,001
to $1m |
over
$1m |
||||||||
iShares International Preferred Stock ETF | X | ||||||||||||||
iShares JPX-Nikkei 400 ETF | X | ||||||||||||||
iShares Micro-Cap ETF | X | ||||||||||||||
iShares Mortgage Real Estate ETF | X | ||||||||||||||
iShares Nasdaq Biotechnology ETF | X | ||||||||||||||
iShares North American Natural Resources ETF | X | ||||||||||||||
iShares North American Tech-Multimedia Networking ETF | X | ||||||||||||||
iShares PHLX Semiconductor ETF | X | ||||||||||||||
iShares Preferred and Income Securities ETF | X | ||||||||||||||
iShares Residential Real Estate ETF | X | ||||||||||||||
iShares Russell 1000 ETF | X | ||||||||||||||
iShares Russell 1000 Growth ETF | X | ||||||||||||||
iShares Russell 1000 Pure U.S. Revenue ETF | X | ||||||||||||||
iShares Russell 1000 Value ETF | X | ||||||||||||||
iShares Russell 2000 ETF | X | ||||||||||||||
iShares Russell 2000 Growth ETF | X | ||||||||||||||
iShares Russell 2000 Value ETF | X | ||||||||||||||
iShares Russell 3000 ETF | X | ||||||||||||||
iShares Russell Mid-Cap ETF | X | ||||||||||||||
iShares Russell Mid-Cap Growth ETF | X | ||||||||||||||
iShares Russell Mid-Cap Value ETF | X | ||||||||||||||
iShares Russell Top 200 ETF | X | ||||||||||||||
iShares Russell Top 200 Growth ETF | X | ||||||||||||||
iShares Russell Top 200 Value ETF | X | ||||||||||||||
iShares S&P 100 ETF | X | ||||||||||||||
iShares S&P 500 Growth ETF | X | ||||||||||||||
iShares S&P 500 Value ETF | X | ||||||||||||||
iShares S&P Mid-Cap 400 Growth ETF | X | ||||||||||||||
iShares S&P Mid-Cap 400 Value ETF | X | ||||||||||||||
iShares S&P Small-Cap 600 Growth ETF | X | ||||||||||||||
iShares S&P Small-Cap 600 Value ETF | X | ||||||||||||||
iShares U.S. Aerospace & Defense ETF | X | ||||||||||||||
iShares U.S. Broker-Dealers & Securities Exchanges ETF | X | ||||||||||||||
iShares U.S. Healthcare Providers ETF | X | ||||||||||||||
iShares U.S. Home Construction ETF | X | ||||||||||||||
iShares U.S. Infrastructure ETF | X | ||||||||||||||
iShares U.S. Insurance ETF | X | ||||||||||||||
iShares U.S. Medical Devices ETF | X | ||||||||||||||
iShares U.S. Oil & Gas Exploration & Production ETF | X | ||||||||||||||
iShares U.S. Oil Equipment & Services ETF | X | ||||||||||||||
iShares U.S. Pharmaceuticals ETF | X | ||||||||||||||
iShares U.S. Real Estate ETF | X | ||||||||||||||
iShares U.S. Regional Banks ETF | X |
Alan Mason | |||||||||||||||
Dollar Range | |||||||||||||||
Fund | None | $1 to $10k |
$10,001
to $50k |
$50,001
to $100k |
$100,001
to $500k |
$500,001
to $1m |
over
$1m |
||||||||
iShares U.S. Telecommunications ETF | X |
Greg Savage | |||||||||||||||
Dollar Range | |||||||||||||||
Fund | None | $1 to $10k |
$10,001
to $50k |
$50,001
to $100k |
$100,001
to $500k |
$500,001
to $1m |
over
$1m |
||||||||
iShares Core S&P 500 ETF | X | ||||||||||||||
iShares Core S&P Mid-Cap ETF | X | ||||||||||||||
iShares Core S&P Small-Cap ETF | X | ||||||||||||||
iShares Core S&P Total U.S. Stock Market ETF | X | ||||||||||||||
iShares Core S&P U.S. Growth ETF | X | ||||||||||||||
iShares Core S&P U.S. Value ETF | X | ||||||||||||||
iShares Europe ETF | X | ||||||||||||||
iShares Expanded Tech Sector ETF | X | ||||||||||||||
iShares Expanded Tech-Software Sector ETF | X | ||||||||||||||
iShares Factors US Blend Style ETF | X | ||||||||||||||
iShares Factors US Growth Style ETF | X | ||||||||||||||
iShares Factors US Mid Blend Style ETF | X | ||||||||||||||
iShares Factors US Small Blend Style ETF | X | ||||||||||||||
iShares Factors US Value Style ETF | X | ||||||||||||||
iShares Focused Value Factor ETF | X | ||||||||||||||
iShares Global 100 ETF | X | ||||||||||||||
iShares Global Clean Energy ETF | X | ||||||||||||||
iShares Global Comm Services ETF | X | ||||||||||||||
iShares Global Consumer Discretionary ETF | X | ||||||||||||||
iShares Global Consumer Staples ETF | X | ||||||||||||||
iShares Global Energy ETF | X | ||||||||||||||
iShares Global Financials ETF | X | ||||||||||||||
iShares Global Industrials ETF | X | ||||||||||||||
iShares Global Infrastructure ETF | X | ||||||||||||||
iShares Global Utilities ETF | X | ||||||||||||||
iShares International Developed Property ETF | X | ||||||||||||||
iShares International Preferred Stock ETF | X | ||||||||||||||
iShares JPX-Nikkei 400 ETF | X | ||||||||||||||
iShares Micro-Cap ETF | X | ||||||||||||||
iShares Mortgage Real Estate ETF | X | ||||||||||||||
iShares Nasdaq Biotechnology ETF | X | ||||||||||||||
iShares North American Natural Resources ETF | X | ||||||||||||||
iShares North American Tech-Multimedia Networking ETF | X | ||||||||||||||
iShares PHLX Semiconductor ETF | X | ||||||||||||||
iShares Preferred and Income Securities ETF | X | ||||||||||||||
iShares Residential Real Estate ETF | X | ||||||||||||||
iShares Russell 1000 ETF | X | ||||||||||||||
iShares Russell 1000 Growth ETF | X |
Greg Savage | |||||||||||||||
Dollar Range | |||||||||||||||
Fund | None | $1 to $10k |
$10,001
to $50k |
$50,001
to $100k |
$100,001
to $500k |
$500,001
to $1m |
over
$1m |
||||||||
iShares Russell 1000 Pure U.S. Revenue ETF | X | ||||||||||||||
iShares Russell 1000 Value ETF | X | ||||||||||||||
iShares Russell 2000 ETF | X | ||||||||||||||
iShares Russell 2000 Growth ETF | X | ||||||||||||||
iShares Russell 2000 Value ETF | X | ||||||||||||||
iShares Russell 3000 ETF | X | ||||||||||||||
iShares Russell Mid-Cap ETF | X | ||||||||||||||
iShares Russell Mid-Cap Growth ETF | X | ||||||||||||||
iShares Russell Mid-Cap Value ETF | X | ||||||||||||||
iShares Russell Top 200 ETF | X | ||||||||||||||
iShares Russell Top 200 Growth ETF | X | ||||||||||||||
iShares Russell Top 200 Value ETF | X | ||||||||||||||
iShares S&P 100 ETF | X | ||||||||||||||
iShares S&P 500 Growth ETF | X | ||||||||||||||
iShares S&P 500 Value ETF | X | ||||||||||||||
iShares S&P Mid-Cap 400 Growth ETF | X | ||||||||||||||
iShares S&P Mid-Cap 400 Value ETF | X | ||||||||||||||
iShares S&P Small-Cap 600 Growth ETF | X | ||||||||||||||
iShares S&P Small-Cap 600 Value ETF | X | ||||||||||||||
iShares U.S. Aerospace & Defense ETF | X | ||||||||||||||
iShares U.S. Broker-Dealers & Securities Exchanges ETF | X | ||||||||||||||
iShares U.S. Healthcare Providers ETF | X | ||||||||||||||
iShares U.S. Home Construction ETF | X | ||||||||||||||
iShares U.S. Infrastructure ETF | X | ||||||||||||||
iShares U.S. Insurance ETF | X | ||||||||||||||
iShares U.S. Medical Devices ETF | X | ||||||||||||||
iShares U.S. Oil & Gas Exploration & Production ETF | X | ||||||||||||||
iShares U.S. Oil Equipment & Services ETF | X | ||||||||||||||
iShares U.S. Pharmaceuticals ETF | X | ||||||||||||||
iShares U.S. Real Estate ETF | X | ||||||||||||||
iShares U.S. Regional Banks ETF | X | ||||||||||||||
iShares U.S. Telecommunications ETF | X |
Amy Whitelaw | |||||||||||||||
Dollar Range | |||||||||||||||
Fund | None | $1 to $10k |
$10,001
to $50k |
$50,001
to $100k |
$100,001
to $500k |
$500,001
to $1m |
over
$1m |
||||||||
iShares Core S&P 500 ETF | X | ||||||||||||||
iShares Core S&P Mid-Cap ETF | X | ||||||||||||||
iShares Core S&P Small-Cap ETF | X | ||||||||||||||
iShares Core S&P Total U.S. Stock Market ETF | X | ||||||||||||||
iShares Core S&P U.S. Growth ETF | X | ||||||||||||||
iShares Core S&P U.S. Value ETF | X |
Amy Whitelaw | |||||||||||||||
Dollar Range | |||||||||||||||
Fund | None | $1 to $10k |
$10,001
to $50k |
$50,001
to $100k |
$100,001
to $500k |
$500,001
to $1m |
over
$1m |
||||||||
iShares Europe ETF | X | ||||||||||||||
iShares Expanded Tech Sector ETF | X | ||||||||||||||
iShares Expanded Tech-Software Sector ETF | X | ||||||||||||||
iShares Factors US Blend Style ETF | X | ||||||||||||||
iShares Factors US Growth Style ETF | X | ||||||||||||||
iShares Factors US Mid Blend Style ETF | X | ||||||||||||||
iShares Factors US Small Blend Style ETF | X | ||||||||||||||
iShares Factors US Value Style ETF | X | ||||||||||||||
iShares Focused Value Factor ETF | X | ||||||||||||||
iShares Global 100 ETF | X | ||||||||||||||
iShares Global Clean Energy ETF | X | ||||||||||||||
iShares Global Comm Services ETF | X | ||||||||||||||
iShares Global Consumer Discretionary ETF | X | ||||||||||||||
iShares Global Consumer Staples ETF | X | ||||||||||||||
iShares Global Energy ETF | X | ||||||||||||||
iShares Global Financials ETF | X | ||||||||||||||
iShares Global Industrials ETF | X | ||||||||||||||
iShares Global Infrastructure ETF | X | ||||||||||||||
iShares Global Utilities ETF | X | ||||||||||||||
iShares International Developed Property ETF | X | ||||||||||||||
iShares International Preferred Stock ETF | X | ||||||||||||||
iShares JPX-Nikkei 400 ETF | X | ||||||||||||||
iShares Micro-Cap ETF | X | ||||||||||||||
iShares Mortgage Real Estate ETF | X | ||||||||||||||
iShares Nasdaq Biotechnology ETF | X | ||||||||||||||
iShares North American Natural Resources ETF | X | ||||||||||||||
iShares North American Tech-Multimedia Networking ETF | X | ||||||||||||||
iShares PHLX Semiconductor ETF | X | ||||||||||||||
iShares Preferred and Income Securities ETF | X | ||||||||||||||
iShares Residential Real Estate ETF | X | ||||||||||||||
iShares Russell 1000 ETF | X | ||||||||||||||
iShares Russell 1000 Growth ETF | X | ||||||||||||||
iShares Russell 1000 Pure U.S. Revenue ETF | X | ||||||||||||||
iShares Russell 1000 Value ETF | X | ||||||||||||||
iShares Russell 2000 ETF | X | ||||||||||||||
iShares Russell 2000 Growth ETF | X | ||||||||||||||
iShares Russell 2000 Value ETF | X | ||||||||||||||
iShares Russell 3000 ETF | X | ||||||||||||||
iShares Russell Mid-Cap ETF | X | ||||||||||||||
iShares Russell Mid-Cap Growth ETF | X | ||||||||||||||
iShares Russell Mid-Cap Value ETF | X | ||||||||||||||
iShares Russell Top 200 ETF | X | ||||||||||||||
iShares Russell Top 200 Growth ETF | X | ||||||||||||||
iShares Russell Top 200 Value ETF | X | ||||||||||||||
iShares S&P 100 ETF | X |
Amy Whitelaw | |||||||||||||||
Dollar Range | |||||||||||||||
Fund | None | $1 to $10k |
$10,001
to $50k |
$50,001
to $100k |
$100,001
to $500k |
$500,001
to $1m |
over
$1m |
||||||||
iShares S&P 500 Growth ETF | X | ||||||||||||||
iShares S&P 500 Value ETF | X | ||||||||||||||
iShares S&P Mid-Cap 400 Growth ETF | X | ||||||||||||||
iShares S&P Mid-Cap 400 Value ETF | X | ||||||||||||||
iShares S&P Small-Cap 600 Growth ETF | X | ||||||||||||||
iShares S&P Small-Cap 600 Value ETF | X | ||||||||||||||
iShares U.S. Aerospace & Defense ETF | X | ||||||||||||||
iShares U.S. Broker-Dealers & Securities Exchanges ETF | X | ||||||||||||||
iShares U.S. Healthcare Providers ETF | X | ||||||||||||||
iShares U.S. Home Construction ETF | X | ||||||||||||||
iShares U.S. Infrastructure ETF | X | ||||||||||||||
iShares U.S. Insurance ETF | X | ||||||||||||||
iShares U.S. Medical Devices ETF | X | ||||||||||||||
iShares U.S. Oil & Gas Exploration & Production ETF | X | ||||||||||||||
iShares U.S. Oil Equipment & Services ETF | X | ||||||||||||||
iShares U.S. Pharmaceuticals ETF | X | ||||||||||||||
iShares U.S. Real Estate ETF | X | ||||||||||||||
iShares U.S. Regional Banks ETF | X | ||||||||||||||
iShares U.S. Telecommunications ETF | X |
Fund |
Fund
Inception Date |
Administration,
Custodian, Transfer Agency Expenses Paid During Fiscal Year Ended March 31, 2020 |
Administration,
Custodian, Transfer Agency Expenses Paid During Fiscal Year Ended March 31, 2019 |
Administration,
Custodian, Transfer Agency Expenses Paid During Fiscal Year Ended March 31, 2018 |
||||
iShares Core S&P 500 ETF | 05/15/00 | $1,896,029 | $1,657,166 | $2,135,822 | ||||
iShares Core S&P Mid-Cap ETF | 05/22/00 | 625,958 | 583,103 | 675,859 | ||||
iShares Core S&P Small-Cap ETF | 05/22/00 | 604,191 | 577,960 | 578,034 | ||||
iShares Core S&P Total U.S. Stock Market ETF | 01/20/04 | 298,666 | 221,627 | 211,030 | ||||
iShares Core S&P U.S. Growth ETF | 07/24/00 | 116,387 | 81,221 | 57,231 | ||||
iShares Core S&P U.S. Value ETF | 07/24/00 | 102,143 | 84,585 | 63,742 | ||||
iShares Europe ETF | 07/25/00 | 120,682 | 162,827 | 174,548 | ||||
iShares Expanded Tech Sector ETF | 03/13/01 | 39,286 | 34,840 | 27,577 | ||||
iShares Expanded Tech-Software Sector ETF | 07/10/01 | 46,216 | 33,395 | 21,746 | ||||
iShares Factors US Blend Style ETF | 04/14/20 | N/A | N/A | N/A | ||||
iShares Factors US Growth Style ETF | 01/14/20 | 5,804 | N/A | N/A | ||||
iShares Factors US Mid Blend Style ETF | 04/14/20 | N/A | N/A | N/A | ||||
iShares Factors US Small Blend Style ETF | 04/14/20 | N/A | N/A | N/A | ||||
iShares Factors US Value Style ETF | 01/14/20 | 6,850 | N/A | N/A | ||||
iShares Focused Value Factor ETF | 03/19/19 | 20,887 | 915 | N/A | ||||
iShares Global 100 ETF | 12/05/00 | 64,817 | 65,868 | 58,134 | ||||
iShares Global Clean Energy ETF | 06/24/08 | 40,106 | 35,170 | 15,702 | ||||
iShares Global Comm Services ETF | 11/12/01 | 37,123 | 39,754 | 23,263 | ||||
iShares Global Consumer Discretionary ETF | 09/12/06 | 32,542 | 31,400 | 18,692 | ||||
iShares Global Consumer Staples ETF | 09/12/06 | 47,346 | 42,252 | 30,254 | ||||
iShares Global Energy ETF | 11/12/01 | 47,516 | 57,802 | 35,001 | ||||
iShares Global Financials ETF | 11/12/01 | 39,004 | 43,689 | 38,619 | ||||
iShares Global Industrials ETF | 09/12/06 | 32,222 | 33,691 | 20,567 | ||||
iShares Global Infrastructure ETF | 12/10/07 | 150,576 | 128,091 | 93,001 | ||||
iShares Global Utilities ETF | 09/12/06 | 29,009 | 28,281 | 17,339 | ||||
iShares International Developed Property ETF | 07/30/07 | 81,049 | 59,793 | 59,459 | ||||
iShares International Preferred Stock ETF | 11/15/11 | 32,669 | 35,211 | 17,956 | ||||
iShares JPX-Nikkei 400 ETF | 10/23/01 | 25,051 | 24,503 | 9,276 | ||||
iShares Micro-Cap ETF | 08/12/05 | 56,035 | 54,641 | 35,832 | ||||
iShares Mortgage Real Estate ETF | 05/01/07 | 32,462 | 27,685 | 28,294 | ||||
iShares Nasdaq Biotechnology ETF | 02/05/01 | 92,172 | 113,346 | 184,703 | ||||
iShares North American Natural Resources ETF | 10/22/01 | 27,352 | 28,782 | 22,928 | ||||
iShares North American Tech-Multimedia Networking ETF | 07/10/01 | 19,229 | 17,366 | 4,469 | ||||
iShares PHLX Semiconductor ETF | 07/10/01 | 34,569 | 39,531 | 23,662 | ||||
iShares Preferred and Income Securities ETF | 03/26/07 | 212,448 | 204,570 | 293,151 | ||||
iShares Residential Real Estate ETF | 05/01/07 | 24,332 | 21,181 | 12,649 | ||||
iShares Russell 1000 ETF | 05/15/00 | 287,634 | 274,420 | 338,373 | ||||
iShares Russell 1000 Growth ETF | 05/22/00 | 607,098 | 566,868 | 647,807 |
Fund |
Fund
Inception Date |
Administration,
Custodian, Transfer Agency Expenses Paid During Fiscal Year Ended March 31, 2020 |
Administration,
Custodian, Transfer Agency Expenses Paid During Fiscal Year Ended March 31, 2019 |
Administration,
Custodian, Transfer Agency Expenses Paid During Fiscal Year Ended March 31, 2018 |
||||
iShares Russell 1000 Pure U.S. Revenue ETF | 08/08/17 | 23,775 | 25,289 | 7,647 | ||||
iShares Russell 1000 Value ETF | 05/22/00 | 540,592 | 506,526 | 657,465 | ||||
iShares Russell 2000 ETF | 05/22/00 | 530,342 | 540,529 | 772,445 | ||||
iShares Russell 2000 Growth ETF | 07/24/00 | 141,436 | 139,561 | 172,278 | ||||
iShares Russell 2000 Value ETF | 07/24/00 | 146,654 | 154,826 | 178,267 | ||||
iShares Russell 3000 ETF | 05/22/00 | 144,026 | 135,898 | 156,384 | ||||
iShares Russell Mid-Cap ETF | 07/17/01 | 277,934 | 229,417 | 279,101 | ||||
iShares Russell Mid-Cap Growth ETF | 07/17/01 | 159,516 | 127,045 | 140,304 | ||||
iShares Russell Mid-Cap Value ETF | 07/17/01 | 167,221 | 148,536 | 188,969 | ||||
iShares Russell Top 200 ETF | 09/22/09 | 24,222 | 23,628 | 11,009 | ||||
iShares Russell Top 200 Growth ETF | 09/22/09 | 32,418 | 27,835 | 23,882 | ||||
iShares Russell Top 200 Value ETF | 09/22/09 | 27,784 | 26,793 | 13,037 | ||||
iShares S&P 100 ETF | 10/23/00 | 78,778 | 74,017 | 90,940 | ||||
iShares S&P 500 Growth ETF | 05/22/00 | 317,049 | 299,846 | 334,873 | ||||
iShares S&P 500 Value ETF | 05/22/00 | 229,163 | 212,125 | 258,470 | ||||
iShares S&P Mid-Cap 400 Growth ETF | 07/24/00 | 113,788 | 121,152 | 138,094 | ||||
iShares S&P Mid-Cap 400 Value ETF | 07/24/00 | 104,011 | 105,499 | 113,892 | ||||
iShares S&P Small-Cap 600 Growth ETF | 07/24/00 | 101,886 | 119,961 | 105,812 | ||||
iShares S&P Small-Cap 600 Value ETF | 07/24/00 | 108,842 | 103,879 | 105,908 | ||||
iShares U.S. Aerospace & Defense ETF | 05/01/06 | 79,605 | 66,182 | 71,052 | ||||
iShares U.S. Broker-Dealers & Securities Exchanges ETF | 05/01/06 | 20,923 | 20,012 | 6,830 | ||||
iShares U.S. Healthcare Providers ETF | 05/01/06 | 25,289 | 20,547 | 12,396 | ||||
iShares U.S. Home Construction ETF | 05/01/06 | 28,534 | 26,653 | 33,596 | ||||
iShares U.S. Infrastructure ETF | 04/03/18 | 23,964 | 21,218 | N/A | ||||
iShares U.S. Insurance ETF | 05/01/06 | 21,211 | 20,218 | 7,986 | ||||
iShares U.S. Medical Devices ETF | 05/01/06 | 64,175 | 46,842 | 26,518 | ||||
iShares U.S. Oil & Gas Exploration & Production ETF | 05/01/06 | 20,493 | 22,787 | 11,941 | ||||
iShares U.S. Oil Equipment & Services ETF | 05/01/06 | 20,769 | 20,375 | 7,625 | ||||
iShares U.S. Pharmaceuticals ETF | 05/01/06 | 23,426 | 21,345 | 15,492 | ||||
iShares U.S. Real Estate ETF | 06/12/00 | 71,744 | 61,450 | 104,153 | ||||
iShares U.S. Regional Banks ETF | 05/01/06 | 24,783 | 26,001 | 16,680 | ||||
iShares U.S. Telecommunications ETF | 05/22/00 | 23,296 | 21,769 | 19,114 |
Fund |
iShares
Core
S&P 500 ETF |
iShares
Core S&P
Mid-Cap ETF |
iShares
Core S&P
Small-Cap ETF |
iShares
Core S&P
Total U.S. Stock Market ETF |
Gross
income from
securities lending activities |
$36,338,522 | $67,824,589 | $84,615,312 | $17,540,766 |
Fees
and/or compensation
for securities lending activities and related services |
||||
Securities
lending
income paid to BTC for services as securities lending agent |
2,463,582 | 4,270,202 | 8,181,769 | 1,956,992 |
Cash
collateral
management expenses not included in securities lending income paid to BTC |
616,311 | 1,164,808 | 1,279,947 | 246,581 |
Administrative
fees not
included in securities lending income paid to BTC |
0 | 0 | 0 | 0 |
Fund |
iShares
Core
S&P 500 ETF |
iShares
Core S&P
Mid-Cap ETF |
iShares
Core S&P
Small-Cap ETF |
iShares
Core S&P
Total U.S. Stock Market ETF |
Indemnification
fees not
included in securities lending income paid to BTC |
0 | 0 | 0 | 0 |
Rebates
(paid to
borrowers) |
25,416,292 | 49,463,991 | 51,689,020 | 9,783,462 |
Other
fees not
included in securities lending income paid to BTC |
0 | 0 | 0 | 0 |
Aggregate
fees/compensation for securities lending activities |
$ 28,496,185 | $54,899,001 | $ 61,150,736 | $11,987,035 |
Net
income from securities
lending activities |
$ 7,842,337 | $ 12,925,588 | $23,464,576 | $ 5,553,731 |
Fund |
iShares
Core S&P
U.S. Growth ETF |
iShares
Core S&P
U.S. Value ETF |
iShares Europe ETF |
iShares
Expanded
Tech Sector ETF |
Gross
income from
securities lending activities |
$ 3,912,655 | $1,266,696 | $301,824 | $1,179,806 |
Fees
and/or compensation
for securities lending activities and related services |
||||
Securities
lending
income paid to BTC for services as securities lending agent |
184,109 | 107,231 | 31,450 | 63,059 |
Cash
collateral
management expenses not included in securities lending income paid to BTC |
71,812 | 18,431 | 3,170 | 21,388 |
Administrative
fees not
included in securities lending income paid to BTC |
0 | 0 | 0 | 0 |
Indemnification
fees not
included in securities lending income paid to BTC |
0 | 0 | 0 | 0 |
Rebates
(paid to
borrowers) |
3,043,409 | 813,946 | 118,800 | 893,420 |
Fund |
iShares
Core S&P
U.S. Growth ETF |
iShares
Core S&P
U.S. Value ETF |
iShares Europe ETF |
iShares
Expanded
Tech Sector ETF |
Other
fees not
included in securities lending income paid to BTC |
0 | 0 | 0 | 0 |
Aggregate
fees/compensation for securities lending activities |
$3,299,330 | $939,608 | $ 153,420 | $ 977,867 |
Net
income from securities
lending activities |
$ 613,325 | $ 327,088 | $148,404 | $201,939 |
Fund |
iShares
Expanded Tech-Software
Sector ETF |
iShares
Factors US
Blend Style ETF1 |
iShares
Factors US
Growth Style ETF |
iShares
Factors US
Mid Blend Style ETF2 |
Gross
income from
securities lending activities |
$4,999,767 | N/A | $ 537 | N/A |
Fees
and/or compensation
for securities lending activities and related services |
||||
Securities
lending
income paid to BTC for services as securities lending agent |
229,487 | N/A | 123 | N/A |
Cash
collateral
management expenses not included in securities lending income paid to BTC |
92,348 | N/A | 4 | N/A |
Administrative
fees not
included in securities lending income paid to BTC |
0 | N/A | 0 | N/A |
Indemnification
fees not
included in securities lending income paid to BTC |
0 | N/A | 0 | N/A |
Rebates
(paid to
borrowers) |
3,908,176 | N/A | 40 | N/A |
Fund |
iShares
Expanded Tech-Software
Sector ETF |
iShares
Factors US
Blend Style ETF1 |
iShares
Factors US
Growth Style ETF |
iShares
Factors US
Mid Blend Style ETF2 |
Other
fees not
included in securities lending income paid to BTC |
0 | N/A | 0 | N/A |
Aggregate
fees/compensation for securities lending activities |
$4,230,011 | N/A | $ 167 | N/A |
Net
income from securities
lending activities |
$ 769,756 | N/A | $370 | N/A |
Fund |
iShares
Global Clean Energy ETF |
iShares
Global
Comm Services ETF |
iShares
Global Consumer
Discretionary ETF |
iShares
Global
Consumer Staples ETF |
Gross
income from
securities lending activities |
$998,906 | $ 49,160 | $ 41,208 | $82,046 |
Fees
and/or compensation
for securities lending activities and related services |
||||
Securities
lending
income paid to BTC for services as securities lending agent |
70,595 | 1,942 | 2,593 | 4,405 |
Cash
collateral
management expenses not included in securities lending income paid to BTC |
17,355 | 946 | 571 | 655 |
Administrative
fees not
included in securities lending income paid to BTC |
0 | 0 | 0 | 0 |
Indemnification
fees not
included in securities lending income paid to BTC |
0 | 0 | 0 | 0 |
Rebates
(paid to
borrowers) |
589,336 | 37,405 | 22,944 | 42,367 |
Other
fees not
included in securities lending income paid to BTC |
0 | 0 | 0 | 0 |
Aggregate
fees/compensation for securities lending activities |
$ 677,286 | $40,293 | $ 26,108 | $ 47,427 |
Net
income from securities
lending activities |
$ 321,620 | $ 8,867 | $ 15,100 | $ 34,619 |
Fund |
iShares
Global
Energy ETF |
iShares
Global
Financials ETF |
iShares
Global
Industrials ETF |
iShares
Global
Infrastructure ETF |
Gross
income from
securities lending activities |
$59,354 | $59,784 | $50,227 | $391,000 |
Fund |
iShares
Global
Energy ETF |
iShares
Global
Financials ETF |
iShares
Global
Industrials ETF |
iShares
Global
Infrastructure ETF |
Fees
and/or compensation
for securities lending activities and related services |
||||
Securities
lending
income paid to BTC for services as securities lending agent |
3,509 | 4,714 | 6,128 | 31,318 |
Cash
collateral
management expenses not included in securities lending income paid to BTC |
1,054 | 801 | 454 | 5,381 |
Administrative
fees not
included in securities lending income paid to BTC |
0 | 0 | 0 | 0 |
Indemnification
fees not
included in securities lending income paid to BTC |
0 | 0 | 0 | 0 |
Rebates
(paid to
borrowers) |
38,027 | 32,790 | 15,730 | 208,817 |
Other
fees not
included in securities lending income paid to BTC |
0 | 0 | 0 | 0 |
Aggregate
fees/compensation for securities lending activities |
$42,590 | $38,305 | $22,312 | $ 245,516 |
Net
income from securities
lending activities |
$ 16,764 | $ 21,479 | $ 27,915 | $145,484 |
Fund |
iShares
Global
Utilities ETF |
iShares
International
Developed Property ETF |
iShares
International
Preferred Stock ETF |
iShares
JPX-Nikkei
400 ETF |
Gross
income from
securities lending activities |
$4,997 | $66,566 | $300 | $12,483 |
Fees
and/or compensation
for securities lending activities and related services |
||||
Securities
lending
income paid to BTC for services as securities lending agent |
0 | 9,149 | 22 | 1,469 |
Fund |
iShares
Global
Utilities ETF |
iShares
International
Developed Property ETF |
iShares
International
Preferred Stock ETF |
iShares
JPX-Nikkei
400 ETF |
Cash
collateral
management expenses not included in securities lending income paid to BTC |
58 | 573 | 5 | 140 |
Administrative
fees not
included in securities lending income paid to BTC |
0 | 0 | 0 | 0 |
Indemnification
fees not
included in securities lending income paid to BTC |
0 | 0 | 0 | 0 |
Rebates
(paid to
borrowers) |
2,421 | 15,165 | 175 | 4,181 |
Other
fees not
included in securities lending income paid to BTC |
0 | 0 | 0 | 0 |
Aggregate
fees/compensation for securities lending activities |
$2,479 | $ 24,887 | $202 | $5,790 |
Net
income from securities
lending activities |
$ 2,518 | $41,679 | $ 98 | $ 6,693 |
Fund | iShares Micro-Cap ETF |
iShares
Mortgage
Real Estate ETF |
iShares
Nasdaq
Biotechnology ETF |
iShares
North American
Natural Resources ETF |
Gross
income from
securities lending activities |
$8,662,735 | $73,075 | $33,271,959 | $676,631 |
Fees
and/or compensation
for securities lending activities and related services |
||||
Securities
lending
income paid to BTC for services as securities lending agent |
1,717,807 | 7,970 | 3,429,142 | 46,654 |
Cash
collateral
management expenses not included in securities lending income paid to BTC |
64,759 | 1,345 | 483,729 | 11,293 |
Administrative
fees not
included in securities lending income paid to BTC |
0 | 0 | 0 | 0 |
Fund | iShares Micro-Cap ETF |
iShares
Mortgage
Real Estate ETF |
iShares
Nasdaq
Biotechnology ETF |
iShares
North American
Natural Resources ETF |
Indemnification
fees not
included in securities lending income paid to BTC |
0 | 0 | 0 | 0 |
Rebates
(paid to
borrowers) |
2,039,159 | 41,043 | 19,725,513 | 479,782 |
Other
fees not
included in securities lending income paid to BTC |
0 | 0 | 0 | 0 |
Aggregate
fees/compensation for securities lending activities |
$3,821,725 | $50,358 | $23,638,384 | $ 537,729 |
Net
income from securities
lending activities |
$ 4,841,010 | $ 22,717 | $ 9,633,575 | $ 138,902 |
Fund |
iShares
North American
Tech-Multimedia Networking ETF |
iShares
PHLX
Semiconductor ETF |
iShares
Preferred and Income
Securities ETF |
iShares
Residential
Real Estate ETF |
Gross
income from
securities lending activities |
$261,746 | $1,365,972 | $ 7,801,493 | $24,606 |
Fees
and/or compensation
for securities lending activities and related services |
||||
Securities
lending
income paid to BTC for services as securities lending agent |
22,571 | 62,359 | 1,904,890 | 1,402 |
Cash
collateral
management expenses not included in securities lending income paid to BTC |
3,896 | 25,290 | 44,135 | 515 |
Administrative
fees not
included in securities lending income paid to BTC |
0 | 0 | 0 | 0 |
Fund |
iShares
North American
Tech-Multimedia Networking ETF |
iShares
PHLX
Semiconductor ETF |
iShares
Preferred and Income
Securities ETF |
iShares
Residential
Real Estate ETF |
Indemnification
fees not
included in securities lending income paid to BTC |
0 | 0 | 0 | 0 |
Rebates
(paid to
borrowers) |
167,359 | 1,068,233 | 491,995 | 18,142 |
Other
fees not
included in securities lending income paid to BTC |
0 | 0 | 0 | 0 |
Aggregate
fees/compensation for securities lending activities |
$193,826 | $ 1,155,882 | $ 2,441,020 | $20,059 |
Net
income from securities
lending activities |
$ 67,920 | $ 210,090 | $5,360,473 | $ 4,547 |
Fund |
iShares
Russell
1000 ETF |
iShares
Russell 1000
Growth ETF |
iShares
Russell 1000 Pure
U.S. Revenue ETF |
iShares
Russell 1000
Value ETF |
Gross
income from
securities lending activities |
$12,244,325 | $25,419,207 | $0 | $11,899,886 |
Fees
and/or compensation
for securities lending activities and related services |
||||
Securities
lending
income paid to BTC for services as securities lending agent |
717,283 | 1,317,751 | 0 | 1,144,013 |
Cash
collateral
management expenses not included in securities lending income paid to BTC |
206,258 | 460,247 | 0 | 171,151 |
Administrative
fees not
included in securities lending income paid to BTC |
0 | 0 | 0 | 0 |
Fund |
iShares
Russell
1000 ETF |
iShares
Russell 1000
Growth ETF |
iShares
Russell 1000 Pure
U.S. Revenue ETF |
iShares
Russell 1000
Value ETF |
Indemnification
fees not
included in securities lending income paid to BTC |
0 | 0 | 0 | 0 |
Rebates
(paid to
borrowers) |
9,111,446 | 19,403,311 | 0 | 7,252,243 |
Other
fees not
included in securities lending income paid to BTC |
0 | 0 | 0 | 0 |
Aggregate
fees/compensation for securities lending activities |
$10,034,987 | $ 21,181,309 | $0 | $ 8,567,407 |
Net
income from securities
lending activities |
$ 2,209,338 | $ 4,237,898 | $0 | $3,332,479 |
Fund |
iShares
Russell
2000 ETF |
iShares
Russell 2000
Growth ETF |
iShares
Russell 2000
Value ETF |
iShares
Russell
3000 ETF |
Gross
income from
securities lending activities |
$175,085,834 | $ 53,108,601 | $ 22,377,508 | $ 6,409,274 |
Fees
and/or compensation
for securities lending activities and related services |
||||
Securities
lending
income paid to BTC for services as securities lending agent |
23,194,783 | 6,966,996 | 2,986,560 | 610,711 |
Cash
collateral
management expenses not included in securities lending income paid to BTC |
2,165,685 | 660,998 | 275,691 | 95,891 |
Administrative
fees not
included in securities lending income paid to BTC |
0 | 0 | 0 | 0 |
Indemnification
fees not
included in securities lending income paid to BTC |
0 | 0 | 0 | 0 |
Rebates
(paid to
borrowers) |
84,076,835 | 25,776,880 | 10,660,881 | 3,965,583 |
Fund |
iShares
Russell
2000 ETF |
iShares
Russell 2000
Growth ETF |
iShares
Russell 2000
Value ETF |
iShares
Russell
3000 ETF |
Other
fees not
included in securities lending income paid to BTC |
0 | 0 | 0 | 0 |
Aggregate
fees/compensation for securities lending activities |
$109,437,303 | $33,404,874 | $13,923,132 | $4,672,185 |
Net
income from securities
lending activities |
$ 65,648,531 | $ 19,703,727 | $ 8,454,376 | $ 1,737,089 |
Fund |
iShares
Russell Mid
Cap ETF |
iShares
Russell
Mid-Cap Growth ETF |
iShares
Russell
Mid-Cap Value ETF |
iShares
Russell
Top 200 ETF |
Gross
income from
securities lending activities |
$24,453,824 | $ 21,513,330 | $8,222,988 | $23,996 |
Fees
and/or compensation
for securities lending activities and related services |
||||
Securities
lending
income paid to BTC for services as securities lending agent |
1,723,477 | 1,047,349 | 842,733 | 1,808 |
Cash
collateral
management expenses not included in securities lending income paid to BTC |
399,595 | 388,549 | 114,481 | 456 |
Administrative
fees not
included in securities lending income paid to BTC |
0 | 0 | 0 | 0 |
Indemnification
fees not
included in securities lending income paid to BTC |
0 | 0 | 0 | 0 |
Rebates
(paid to
borrowers) |
17,140,065 | 16,660,035 | 4,832,413 | 16,216 |
Other
fees not
included in securities lending income paid to BTC |
0 | 0 | 0 | 0 |
Aggregate
fees/compensation for securities lending activities |
$ 19,263,137 | $ 18,095,933 | $ 5,789,627 | $ 18,480 |
Net
income from securities
lending activities |
$ 5,190,687 | $ 3,417,397 | $ 2,433,361 | $ 5,516 |
Fund |
iShares
Russell Top 200
Growth ETF |
iShares
Russell Top 200
Value ETF |
iShares S&P 100 ETF |
iShares
S&P 500
Growth ETF |
Gross
income from
securities lending activities |
$ 333,931 | $26,342 | $ 782,975 | $ 4,833,543 |
Fees
and/or compensation
for securities lending activities and related services |
||||
Securities
lending
income paid to BTC for services as securities lending agent |
22,453 | 2,118 | 54,775 | 246,682 |
Cash
collateral
management expenses not included in securities lending income paid to BTC |
6,045 | 536 | 15,804 | 86,799 |
Administrative
fees not
included in securities lending income paid to BTC |
0 | 0 | 0 | 0 |
Indemnification
fees not
included in securities lending income paid to BTC |
0 | 0 | 0 | 0 |
Rebates
(paid to
borrowers) |
236,107 | 17,105 | 538,116 | 3,688,066 |
Other
fees not
included in securities lending income paid to BTC |
0 | 0 | 0 | 0 |
Aggregate
fees/compensation for securities lending activities |
$264,605 | $ 19,759 | $608,695 | $ 4,021,547 |
Net
income from securities
lending activities |
$ 69,326 | $ 6,583 | $ 174,280 | $ 811,996 |
Fund |
iShares
S&P 500
Value ETF |
iShares
S&P Mid-Cap
400 Growth ETF |
iShares
S&P Mid-Cap
400 Value ETF |
iShares
S&P Small-Cap
600 Growth ETF |
Gross
income from
securities lending activities |
$2,192,177 | $9,562,665 | $9,214,589 | $12,670,016 |
Fees
and/or compensation
for securities lending activities and related services |
Fund |
iShares
S&P 500
Value ETF |
iShares
S&P Mid-Cap
400 Growth ETF |
iShares
S&P Mid-Cap
400 Value ETF |
iShares
S&P Small-Cap
600 Growth ETF |
Securities
lending
income paid to BTC for services as securities lending agent |
209,399 | 464,058 | 708,877 | 868,668 |
Cash
collateral
management expenses not included in securities lending income paid to BTC |
27,910 | 170,623 | 145,883 | 212,797 |
Administrative
fees not
included in securities lending income paid to BTC |
0 | 0 | 0 | 0 |
Indemnification
fees not
included in securities lending income paid to BTC |
0 | 0 | 0 | 0 |
Rebates
(paid to
borrowers) |
1,298,597 | 7,419,291 | 6,294,761 | 9,008,575 |
Other
fees not
included in securities lending income paid to BTC |
0 | 0 | 0 | 0 |
Aggregate
fees/compensation for securities lending activities |
$ 1,535,906 | $8,053,972 | $ 7,149,521 | $10,090,040 |
Net
income from securities
lending activities |
$ 656,271 | $ 1,508,693 | $2,065,068 | $ 2,579,976 |
Fund |
iShares
S&P Small-Cap
600 Value ETF |
iShares
U.S. Aerospace &
Defense ETF |
iShares
U.S. Broker-Dealers &
Securities Exchanges ETF |
iShares
U.S. Healthcare
Providers ETF |
Gross
income from
securities lending activities |
$11,660,945 | $2,959,305 | $33,565 | $1,005,703 |
Fees
and/or compensation
for securities lending activities and related services |
Fund |
iShares
S&P Small-Cap
600 Value ETF |
iShares
U.S. Aerospace &
Defense ETF |
iShares
U.S. Broker-Dealers &
Securities Exchanges ETF |
iShares
U.S. Healthcare
Providers ETF |
Securities
lending
income paid to BTC for services as securities lending agent |
1,380,444 | 118,252 | 1,302 | 50,881 |
Cash
collateral
management expenses not included in securities lending income paid to BTC |
154,807 | 53,733 | 575 | 17,947 |
Administrative
fees not
included in securities lending income paid to BTC |
0 | 0 | 0 | 0 |
Indemnification
fees not
included in securities lending income paid to BTC |
0 | 0 | 0 | 0 |
Rebates
(paid to
borrowers) |
6,182,980 | 2,380,537 | 27,191 | 769,907 |
Other
fees not
included in securities lending income paid to BTC |
0 | 0 | 0 | 0 |
Fund |
iShares
S&P Small-Cap
600 Value ETF |
iShares
U.S. Aerospace &
Defense ETF |
iShares
U.S. Broker-Dealers &
Securities Exchanges ETF |
iShares
U.S. Healthcare
Providers ETF |
Aggregate
fees/compensation for securities lending activities |
$ 7,718,231 | $2,552,522 | $29,068 | $838,735 |
Net
income from securities
lending activities |
$3,942,714 | $ 406,783 | $ 4,497 | $ 166,968 |
Fund |
iShares
U.S. Home
Construction ETF |
iShares
U.S.
Infrastructure ETF |
iShares
U.S.
Insurance ETF |
iShares
U.S. Medical
Devices ETF |
Gross
income from
securities lending activities |
$1,076,537 | $10,985 | $23,996 | $ 4,275,529 |
Fees
and/or compensation
for securities lending activities and related services |
||||
Securities
lending
income paid to BTC for services as securities lending agent |
46,897 | 1,938 | 3,914 | 361,803 |
Cash
collateral
management expenses not included in securities lending income paid to BTC |
18,943 | 93 | 252 | 65,385 |
Administrative
fees not
included in securities lending income paid to BTC |
0 | 0 | 0 | 0 |
Indemnification
fees not
included in securities lending income paid to BTC |
0 | 0 | 0 | 0 |
Rebates
(paid to
borrowers) |
855,596 | 3,287 | 8,877 | 2,768,438 |
Other
fees not
included in securities lending income paid to BTC |
0 | 0 | 0 | 0 |
Aggregate
fees/compensation for securities lending activities |
$ 921,436 | $ 5,318 | $ 13,043 | $ 3,195,626 |
Fund |
iShares
U.S. Home
Construction ETF |
iShares
U.S.
Infrastructure ETF |
iShares
U.S.
Insurance ETF |
iShares
U.S. Medical
Devices ETF |
Net
income from securities
lending activities |
$155,101 | $5,667 | $10,953 | $1,079,903 |
Fund |
iShares
U.S. Oil & Gas
Exploration & Production ETF |
IShares
U.S. Oil Equipment
& Services ETF |
iShares
U.S.
Pharmaceuticals ETF |
iShares
U.S. Real
Estate ETF |
Gross
income from
securities lending activities |
$ 272,939 | $199,977 | $559,451 | $ 231,214 |
Fees
and/or compensation
for securities lending activities and related services |
||||
Securities
lending
income paid to BTC for services as securities lending agent |
30,978 | 17,139 | 61,441 | 15,037 |
Cash
collateral
management expenses not included in securities lending income paid to BTC |
3,450 | 2,825 | 8,007 | 4,663 |
Administrative
fees not
included in securities lending income paid to BTC |
0 | 0 | 0 | 0 |
Indemnification
fees not
included in securities lending income paid to BTC |
0 | 0 | 0 | 0 |
Rebates
(paid to
borrowers) |
149,643 | 129,146 | 316,735 | 163,805 |
Other
fees not
included in securities lending income paid to BTC |
0 | 0 | 0 | 0 |
Fund |
iShares
U.S. Oil & Gas
Exploration & Production ETF |
IShares
U.S. Oil Equipment
& Services ETF |
iShares
U.S.
Pharmaceuticals ETF |
iShares
U.S. Real
Estate ETF |
Aggregate
fees/compensation for securities lending activities |
$184,071 | $149,110 | $386,183 | $183,505 |
Net
income from securities
lending activities |
$ 88,868 | $ 50,867 | $ 173,268 | $ 47,709 |
Fund |
iShares
U.S. Regional
Banks ETF |
iShares
U.S.
Telecommunications ETF |
Gross
income from
securities lending activities |
$ 243,143 | $ 373,536 |
Fees
and/or compensation
for securities lending activities and related services |
||
Securities
lending
income paid to BTC for services as securities lending agent |
7,312 | 31,523 |
Cash
collateral
management expenses not included in securities lending income paid to BTC |
4,003 | 6,180 |
Administrative
fees not
included in securities lending income paid to BTC |
0 | 0 |
Indemnification
fees not
included in securities lending income paid to BTC |
0 | 0 |
Rebates
(paid to
borrowers) |
205,324 | 243,702 |
Other
fees not
included in securities lending income paid to BTC |
0 | 0 |
Aggregate
fees/compensation for securities lending activities |
$216,639 | $ 281,405 |
Fund |
iShares
U.S. Regional
Banks ETF |
iShares
U.S.
Telecommunications ETF |
Net
income from securities
lending activities |
$26,504 | $92,131 |
Fund |
Fund
Inception
Date |
Brokerage
Commissions Paid During Fiscal Year Ended March 31, 2020 |
Brokerage
Commissions Paid During Fiscal Year Ended March 31, 2019 |
Brokerage
Commissions Paid During Fiscal Year Ended March 31, 2018 |
||||
iShares Core S&P 500 ETF | 05/15/00 | $ 1,250,816 | $ 983,907 | $ 681,197 | ||||
iShares Core S&P Mid-Cap ETF | 05/22/00 | 2,084,841 | 1,861,056 | 1,007,979 | ||||
iShares Core S&P Small-Cap ETF | 05/22/00 | 4,708,435 | 3,355,926 | 1,752,585 | ||||
iShares Core S&P Total U.S. Stock Market ETF | 01/20/04 | 243,415 | 376,879 | 245,686 | ||||
iShares Core S&P U.S. Growth ETF | 07/24/00 | 176,924 | 85,378 | 36,521 | ||||
iShares Core S&P U.S. Value ETF | 07/24/00 | 210,750 | 143,200 | 45,264 | ||||
iShares Europe ETF | 07/25/00 | 38,602 | 73,306 | 41,321 | ||||
iShares Expanded Tech Sector ETF | 03/13/01 | 18,969 | 10,688 | 5,041 | ||||
iShares Expanded Tech-Software Sector ETF | 07/10/01 | 110,042 | 55,448 | 10,746 |
Fund |
Fund
Inception
Date |
Brokerage
Commissions Paid During Fiscal Year Ended March 31, 2020 |
Brokerage
Commissions Paid During Fiscal Year Ended March 31, 2019 |
Brokerage
Commissions Paid During Fiscal Year Ended March 31, 2018 |
||||
iShares Factors US Blend Style ETF | 04/14/20 | N/A | N/A | N/A | ||||
iShares Factors US Growth Style ETF | 01/14/20 | 38 | N/A | N/A | ||||
iShares Factors US Mid Blend Style ETF | 04/14/20 | N/A | N/A | N/A | ||||
iShares Factors US Small Blend Style ETF | 04/14/20 | N/A | N/A | N/A | ||||
iShares Factors US Value Style ETF | 01/14/20 | 109 | N/A | N/A | ||||
iShares Focused Value Factor ETF | 03/19/19 | 12,050 | 0 | N/A | ||||
iShares Global 100 ETF | 12/05/00 | 20,469 | 28,323 | 15,700 | ||||
iShares Global Clean Energy ETF | 06/24/08 | 111,360 | 38,400 | 20,302 | ||||
iShares Global Comm Services ETF | 11/12/01 | 14,737 | 54,191 | 4,664 | ||||
iShares Global Consumer Discretionary ETF | 09/12/06 | 7,274 | 11,491 | 3,446 | ||||
iShares Global Consumer Staples ETF | 09/12/06 | 18,174 | 14,813 | 7,864 | ||||
iShares Global Energy ETF | 11/12/01 | 24,006 | 25,871 | 14,030 | ||||
iShares Global Financials ETF | 11/12/01 | 9,318 | 11,079 | 5,904 | ||||
iShares Global Industrials ETF | 09/12/06 | 3,470 | 4,566 | 4,291 | ||||
iShares Global Infrastructure ETF | 12/10/07 | 130,189 | 313,520 | 92,544 | ||||
iShares Global Utilities ETF | 09/12/06 | 4,143 | 5,758 | 3,300 | ||||
iShares International Developed Property ETF | 07/30/07 | 5,283 | 6,022 | 8,862 | ||||
iShares International Preferred Stock ETF | 11/15/11 | 20,039 | 31,655 | 15,066 | ||||
iShares JPX-Nikkei 400 ETF | 10/23/01 | 4,639 | 4,939 | 2,216 | ||||
iShares Micro-Cap ETF | 08/12/05 | 235,016 | 167,681 | 124,090 | ||||
iShares Mortgage Real Estate ETF | 05/01/07 | 501,081 | 260,546 | 195,892 | ||||
iShares Nasdaq Biotechnology ETF | 02/05/01 | 674,765 | 350,923 | 400,570 | ||||
iShares North American Natural Resources ETF | 10/22/01 | 37,745 | 28,527 | 16,110 | ||||
iShares North American Tech-Multimedia Networking ETF | 07/10/01 | 10,077 | 3,507 | 1,785 | ||||
iShares PHLX Semiconductor ETF | 07/10/01 | 40,713 | 42,714 | 21,370 | ||||
iShares Preferred and Income Securities ETF | 03/26/07 | 2,183,048 | 1,426,788 | 935,942 | ||||
iShares Residential Real Estate ETF | 05/01/07 | 19,227 | 12,787 | 14,721 | ||||
iShares Russell 1000 ETF | 05/15/00 | 165,354 | 145,057 | 110,091 | ||||
iShares Russell 1000 Growth ETF | 05/22/00 | 707,442 | 338,714 | 277,801 | ||||
iShares Russell 1000 Pure U.S. Revenue ETF | 08/08/17 | 592 | 267 | 49 | ||||
iShares Russell 1000 Value ETF | 05/22/00 | 898,426 | 651,445 | 533,413 | ||||
iShares Russell 2000 ETF | 05/22/00 | 3,864,228 | 2,989,237 | 2,428,121 | ||||
iShares Russell 2000 Growth ETF | 07/24/00 | 821,463 | 683,155 | 427,584 | ||||
iShares Russell 2000 Value ETF | 07/24/00 | 969,394 | 796,255 | 682,675 | ||||
iShares Russell 3000 ETF | 05/22/00 | 114,610 | 114,454 | 68,314 | ||||
iShares Russell Mid-Cap ETF | 07/17/01 | 360,657 | 237,962 | 262,376 | ||||
iShares Russell Mid-Cap Growth ETF | 07/17/01 | 218,731 | 110,510 | 120,934 | ||||
iShares Russell Mid-Cap Value ETF | 07/17/01 | 367,974 | 300,612 | 210,121 | ||||
iShares Russell Top 200 ETF | 09/22/09 | 1,699 | 852 | 524 | ||||
iShares Russell Top 200 Growth ETF | 09/22/09 | 25,477 | 10,118 | 5,535 | ||||
iShares Russell Top 200 Value ETF | 09/22/09 | 7,779 | 4,545 | 2,620 | ||||
iShares S&P 100 ETF | 10/23/00 | 36,028 | 30,608 | 18,864 | ||||
iShares S&P 500 Growth ETF | 05/22/00 | 374,287 | 379,985 | 191,346 | ||||
iShares S&P 500 Value ETF | 05/22/00 | 520,693 | 319,577 | 211,291 | ||||
iShares S&P Mid-Cap 400 Growth ETF | 07/24/00 | 473,048 | 485,964 | 293,088 | ||||
iShares S&P Mid-Cap 400 Value ETF | 07/24/00 | 482,724 | 396,262 | 294,780 | ||||
iShares S&P Small-Cap 600 Growth ETF | 07/24/00 | 754,745 | 496,965 | 343,910 | ||||
iShares S&P Small-Cap 600 Value ETF | 07/24/00 | 1,299,177 | 714,970 | 440,619 | ||||
iShares U.S. Aerospace & Defense ETF | 05/01/06 | 115,303 | 282,806 | 71,847 |
Fund |
Fund
Inception
Date |
Brokerage
Commissions Paid During Fiscal Year Ended March 31, 2020 |
Brokerage
Commissions Paid During Fiscal Year Ended March 31, 2019 |
Brokerage
Commissions Paid During Fiscal Year Ended March 31, 2018 |
||||
iShares U.S. Broker-Dealers & Securities Exchanges ETF | 05/01/06 | 7,740 | 13,368 | 3,119 | ||||
iShares U.S. Healthcare Providers ETF | 05/01/06 | 43,409 | 69,253 | 10,777 | ||||
iShares U.S. Home Construction ETF | 05/01/06 | 49,446 | 48,890 | 54,674 | ||||
iShares U.S. Infrastructure ETF | 04/03/18 | 1,032 | 577 | N/A | ||||
iShares U.S. Insurance ETF | 05/01/06 | 1,815 | 2,828 | 2,680 | ||||
iShares U.S. Medical Devices ETF | 05/01/06 | 78,960 | 170,082 | 27,291 | ||||
iShares U.S. Oil & Gas Exploration & Production ETF | 05/01/06 | 23,130 | 13,532 | 10,484 | ||||
iShares U.S. Oil Equipment & Services ETF | 05/01/06 | 27,448 | 47,025 | 18,151 | ||||
iShares U.S. Pharmaceuticals ETF | 05/01/06 | 34,596 | 52,126 | 27,005 | ||||
iShares U.S. Real Estate ETF | 06/12/00 | 180,998 | 178,504 | 174,094 | ||||
iShares U.S. Regional Banks ETF | 05/01/06 | 7,877 | 15,643 | 5,401 | ||||
iShares U.S. Telecommunications ETF | 05/22/00 | 58,227 | 67,997 | 204,138 |
Fund | Issuer |
Market
Value of
Investment |
||
iShares Core S&P 500 ETF | JPMorgan Chase & Co. | $ 2,127,210,654 | ||
Bank of America Corp. | 1,294,730,827 | |||
Wells Fargo & Co. | 832,105,328 | |||
Citigroup Inc. | 692,726,369 | |||
Goldman Sachs Group Inc. (The) | 370,951,536 | |||
Morgan Stanley | 298,379,954 | |||
iShares Core S&P Total U.S. Stock Market ETF | JPMorgan Chase & Co. | $ 240,744,181 | ||
Bank of America Corp. | 146,417,068 | |||
Citigroup Inc. | 78,358,532 | |||
Goldman Sachs Group Inc. (The) | 41,797,271 | |||
Morgan Stanley | 33,638,138 | |||
Virtu Financial Inc. | 1,110,497 | |||
Cowen Inc. | 211,824 | |||
iShares Core S&P U.S. Growth ETF | JPMorgan Chase & Co. | $ 72,855,337 | ||
iShares Core S&P U.S. Value ETF | Bank of America Corp. | $ 91,012,734 | ||
JPMorgan Chase & Co. | 77,757,020 | |||
Wells Fargo & Co. | 58,492,810 | |||
Citigroup Inc. | 48,695,016 | |||
Goldman Sachs Group Inc. (The) | 26,088,145 | |||
Morgan Stanley | 20,976,402 | |||
Fund | Issuer |
Market
Value of
Investment |
||
iShares Europe ETF | HSBC Holdings PLC | $ 20,890,271 | ||
UBS Group AG | 6,348,851 | |||
Barclays PLC | 3,396,022 | |||
iShares Factors US Value Style ETF | Morgan Stanley | $ 79,662 | ||
JPMorgan Chase & Co. | 17,916 | |||
iShares Focused Value Factor ETF | Wells Fargo & Co. | $ 408,344 | ||
iShares Global 100 ETF | JPMorgan Chase & Co. | $ 45,783,046 | ||
Citigroup Inc. | 14,950,957 | |||
Goldman Sachs Group Inc. (The) | 8,025,231 | |||
Morgan Stanley | 6,481,216 | |||
UBS Group AG | 5,760,606 | |||
Credit Suisse Group AG | 3,244,376 | |||
Barclays PLC | 3,034,282 | |||
Societe Generale SA | 2,158,258 | |||
iShares Global Financials ETF | JPMorgan Chase & Co. | $ 17,528,987 | ||
Bank of America Corp. | 13,107,126 | |||
Citigroup Inc. | 7,728,284 | |||
Goldman Sachs Group Inc. (The) | 3,495,754 | |||
Morgan Stanley | 2,931,001 | |||
UBS Group AG | 2,517,575 | |||
Barclays PLC | 1,697,866 | |||
Macquarie Group Ltd. | 1,549,447 | |||
Credit Suisse Group AG | 1,471,816 | |||
Deutsche Bank AG | 819,917 | |||
iShares International Preferred Stock ETF | Royal Bank of Canada | $ 2,897,743 | ||
Bank of Montreal | 2,115,302 | |||
Bank of Nova Scotia (The) | 1,033,554 | |||
iShares JPX-Nikkei 400 ETF | Nomura Holdings | $ 411,344 | ||
iShares Preferred and Income Securities ETF | Bank of America Corp. | $682,829,846 | ||
Wells Fargo & Co. | 653,051,650 | |||
JPMorgan Chase & Co. | 530,127,288 | |||
Morgan Stanley | 380,040,961 | |||
Bank of New York Mellon Corp. (The) | 42,205,365 | |||
Cowen Inc. | 8,550,691 | |||
iShares Russell 1000 ETF | JPMorgan Chase & Co. | $ 214,049,116 | ||
Bank of America Corp. | 129,382,732 | |||
Citigroup Inc. | 67,854,056 | |||
Goldman Sachs Group Inc. (The) | 37,537,389 | |||
Morgan Stanley | 30,143,482 | |||
Fund | Issuer |
Market
Value of
Investment |
||
iShares Russell 1000 Pure U.S. Revenue ETF | Bank of America Corp. | $ 91,990 | ||
Wells Fargo & Co. | 57,945 | |||
iShares Russell 1000 Value ETF | JPMorgan Chase & Co. | $834,560,094 | ||
Bank of America Corp. | 504,453,397 | |||
Wells Fargo & Co. | 317,823,685 | |||
Citigroup Inc. | 264,330,841 | |||
Goldman Sachs Group Inc. (The) | 146,236,884 | |||
Morgan Stanley | 117,481,220 | |||
iShares Russell 2000 ETF | Cowen Inc. | $ 6,141,248 | ||
iShares Russell 3000 ETF | JPMorgan Chase & Co. | $ 92,542,017 | ||
Bank of America Corp. | 55,937,483 | |||
Wells Fargo & Co. | 35,240,816 | |||
Citigroup Inc. | 29,336,032 | |||
Goldman Sachs Group Inc. (The) | 16,229,013 | |||
Morgan Stanley | 13,038,286 | |||
Piper Sandler Cos. | 226,908 | |||
iShares Russell Top 200 ETF | JPMorgan Chase & Co. | $ 5,862,484 | ||
Bank of America Corp. | 3,543,521 | |||
Wells Fargo & Co. | 2,232,372 | |||
Citigroup Inc. | 1,858,292 | |||
Goldman Sachs Group Inc. (The) | 1,028,333 | |||
Morgan Stanley | 830,586 | |||
iShares Russell Top 200 Value ETF | JPMorgan Chase & Co. | $ 15,212,189 | ||
Bank of America Corp. | 9,195,223 | |||
Wells Fargo & Co. | 5,793,009 | |||
Citigroup Inc. | 4,822,824 | |||
Goldman Sachs Group Inc. (The) | 2,671,006 | |||
Morgan Stanley | 2,140,164 | |||
iShares S&P 100 ETF | JPMorgan Chase & Co. | $ 96,969,873 | ||
Bank of America Corp. | 59,020,631 | |||
Wells Fargo & Co. | 37,932,101 | |||
Citigroup Inc. | 31,577,869 | |||
Goldman Sachs Group Inc. (The) | 16,918,794 | |||
Morgan Stanley | 13,600,068 | |||
Bank of New York Mellon Corp. (The) | 9,706,239 | |||
iShares S&P 500 Growth ETF | JPMorgan Chase & Co. | $ 249,688,032 | ||
iShares S&P 500 Value ETF | Bank of America Corp. | $ 260,031,366 | ||
JPMorgan Chase & Co. | 222,153,977 | |||
Wells Fargo & Co. | 167,118,837 | |||
Citigroup Inc. | 139,126,109 |
Fund | Issuer |
Market
Value of
Investment |
||
Goldman Sachs Group Inc. (The) | 74,536,651 | |||
Morgan Stanley | 59,993,408 | |||
iShares U.S. Broker-Dealers & Securities Exchanges ETF | Goldman Sachs Group Inc. (The) | $ 21,674,600 | ||
Morgan Stanley | 6,169,368 | |||
Cowen Inc. | 334,352 |
Fund |
Fiscal
Year Ended
March 31, 2020 |
Fiscal
Year Ended
March 31, 2019 |
||
iShares Core S&P 500 ETF | 4% | 5% | ||
iShares Core S&P Mid-Cap ETF | 15% | 17% | ||
iShares Core S&P Small-Cap ETF | 16% | 14% | ||
iShares Core S&P Total U.S. Stock Market ETF | 4% | 6% | ||
iShares Core S&P U.S. Growth ETF | 35% | 31% | ||
iShares Core S&P U.S. Value ETF | 34% | 35% | ||
iShares Europe ETF | 5% | 7% | ||
iShares Expanded Tech Sector ETF | 10% | 8% | ||
iShares Expanded Tech-Software Sector ETF | 18% | 18% | ||
iShares Factors US Blend Style ETF | N/A 1 | N/A | ||
iShares Factors US Growth Style ETF | 13% 2,3 | N/A | ||
iShares Factors US Mid Blend Style ETF | N/A 4 | N/A | ||
iShares Factors US Small Blend Style ETF | N/A 5 | N/A | ||
iShares Factors US Value Style ETF | 16% 6,7 | N/A | ||
iShares Focused Value Factor ETF | 149% 8 | 0% 9 | ||
iShares Global 100 ETF | 5% | 9% | ||
iShares Global Clean Energy ETF | 37% | 42% | ||
iShares Global Comm Services ETF | 24% | 79% | ||
iShares Global Consumer Discretionary ETF | 17% | 30% | ||
iShares Global Consumer Staples ETF | 7% | 7% | ||
iShares Global Energy ETF | 7% | 6% | ||
iShares Global Financials ETF | 7% | 7% | ||
iShares Global Industrials ETF | 5% | 5% | ||
iShares Global Infrastructure ETF | 9% | 19% | ||
iShares Global Utilities ETF | 6% | 8% |
Fund |
Fiscal
Year Ended
March 31, 2020 |
Fiscal
Year Ended
March 31, 2019 |
||
iShares International Developed Property ETF | 8% | 9% | ||
iShares International Preferred Stock ETF | 54% | 34% | ||
iShares JPX-Nikkei 400 ETF | 7% | 11% | ||
iShares Micro-Cap ETF | 24% | 25% | ||
iShares Mortgage Real Estate ETF | 29% | 25% | ||
iShares Nasdaq Biotechnology ETF | 29% | 18% | ||
iShares North American Natural Resources ETF | 16% | 12% | ||
iShares North American Tech-Multimedia Networking ETF | 33% | 29% | ||
iShares PHLX Semiconductor ETF | 14% | 26% | ||
iShares Preferred and Income Securities ETF | 46% | 28% | ||
iShares Residential Real Estate ETF | 12% | 10% | ||
iShares Russell 1000 ETF | 5% | 6% | ||
iShares Russell 1000 Growth ETF | 18% | 12% | ||
iShares Russell 1000 Pure U.S. Revenue ETF | 23% | 12% | ||
iShares Russell 1000 Value ETF | 16% | 17% | ||
iShares Russell 2000 ETF | 18% | 22% | ||
iShares Russell 2000 Growth ETF | 33% | 35% | ||
iShares Russell 2000 Value ETF | 25% | 26% | ||
iShares Russell 3000 ETF | 5% | 5% | ||
iShares Russell Mid-Cap ETF | 10% | 11% | ||
iShares Russell Mid-Cap Growth ETF | 23% | 20% | ||
iShares Russell Mid-Cap Value ETF | 20% | 25% | ||
iShares Russell Top 200 ETF | 5% | 5% | ||
iShares Russell Top 200 Growth ETF | 20% | 15% | ||
iShares Russell Top 200 Value ETF | 17% | 14% | ||
iShares S&P 100 ETF | 4% | 7% | ||
iShares S&P 500 Growth ETF | 27% | 27% | ||
iShares S&P 500 Value ETF | 32% | 31% | ||
iShares S&P Mid-Cap 400 Growth ETF | 51% | 50% | ||
iShares S&P Mid-Cap 400 Value ETF | 46% | 44% | ||
iShares S&P Small-Cap 600 Growth ETF | 64% | 45% | ||
iShares S&P Small-Cap 600 Value ETF | 53% | 38% | ||
iShares U.S. Aerospace & Defense ETF | 20% | 38% | ||
iShares U.S. Broker-Dealers & Securities Exchanges ETF | 15% | 27% | ||
iShares U.S. Healthcare Providers ETF | 30% | 48% | ||
iShares U.S. Home Construction ETF | 15% | 17% | ||
iShares U.S. Infrastructure ETF | 23% | 43% | ||
iShares U.S. Insurance ETF | 8% | 17% | ||
iShares U.S. Medical Devices ETF | 9% | 36% | ||
iShares U.S. Oil & Gas Exploration & Production ETF | 25% | 12% | ||
iShares U.S. Oil Equipment & Services ETF | 23% | 35% | ||
iShares U.S. Pharmaceuticals ETF | 40% | 51% | ||
iShares U.S. Real Estate ETF | 8% | 11% | ||
iShares U.S. Regional Banks ETF | 5% | 10% | ||
iShares U.S. Telecommunications ETF | 41% | 35% |
8 | Portfolio turnover rate for fiscal year end March 31, 2019 is for less than the full fiscal year and is not annualized. Portfolio turnover for fiscal year end March 31, 2020, includes turnover resulting from the rebalancing of the Underlying Index. |
Fund |
Shares
Per
Creation Unit |
Approximate
Value Per Creation Unit (U.S.$) |
||
iShares Core S&P 500 ETF | 50,000 | $14,579,000 | ||
iShares Core S&P Mid-Cap ETF | 50,000 | 8,214,000 | ||
iShares Core S&P Small-Cap ETF | 50,000 | 3,169,500 | ||
iShares Core S&P Total U.S. Stock Market ETF | 50,000 | 3,238,500 | ||
iShares Core S&P U.S. Growth ETF | 50,000 | 3,270,500 | ||
iShares Core S&P U.S. Value ETF | 50,000 | 2,564,000 | ||
iShares Europe ETF | 50,000 | 1,875,500 | ||
iShares Expanded Tech Sector ETF | 50,000 | 12,313,000 | ||
iShares Expanded Tech-Software Sector ETF | 50,000 | 12,042,500 | ||
iShares Factors US Blend Style ETF | 50,000 | 1,310,000 | ||
iShares Factors US Growth Style ETF | 50,000 | 1,157,500 | ||
iShares Factors US Mid Blend Style ETF | 50,000 | 1,308,500 | ||
iShares Factors US Small Blend Style ETF | 50,000 | 1,359,000 | ||
iShares Factors US Value Style ETF | 50,000 | 971,500 | ||
iShares Focused Value Factor ETF | 50,000 | 1,667,500 | ||
iShares Global 100 ETF | 50,000 | 2,486,000 | ||
iShares Global Clean Energy ETF | 100,000 | 1,074,000 | ||
iShares Global Comm Services ETF | 50,000 | 2,875,500 | ||
iShares Global Consumer Discretionary ETF | 50,000 | 5,414,000 | ||
iShares Global Consumer Staples ETF | 50,000 | 2,542,500 | ||
iShares Global Energy ETF | 150,000 | 2,953,500 | ||
iShares Global Financials ETF | 50,000 | 2,517,500 | ||
iShares Global Industrials ETF | 50,000 | 3,845,000 | ||
iShares Global Infrastructure ETF | 100,000 | 3,702,000 | ||
iShares Global Utilities ETF | 50,000 | 2,607,500 | ||
iShares International Developed Property ETF | 100,000 | 2,964,000 | ||
iShares International Preferred Stock ETF | 50,000 | 608,000 | ||
iShares JPX-Nikkei 400 ETF | 150,000 | 8,457,000 | ||
iShares Micro-Cap ETF | 50,000 | 3,878,000 | ||
iShares Mortgage Real Estate ETF | 50,000 | 1,103,500 | ||
iShares Nasdaq Biotechnology ETF | 50,000 | 6,209,000 |
Fund |
Shares
Per
Creation Unit |
Approximate
Value Per Creation Unit (U.S.$) |
||
iShares North American Natural Resources ETF | 50,000 | 1,056,500 | ||
iShares North American Tech-Multimedia Networking ETF | 50,000 | 2,479,500 | ||
iShares PHLX Semiconductor ETF | 50,000 | 11,743,000 | ||
iShares Preferred and Income Securities ETF | 50,000 | 1,725,500 | ||
iShares Residential Real Estate ETF | 50,000 | 2,927,000 | ||
iShares Russell 1000 ETF | 50,000 | 8,014,500 | ||
iShares Russell 1000 Growth ETF | 50,000 | 8,648,000 | ||
iShares Russell 1000 Pure U.S. Revenue ETF | 50,000 | 1,270,500 | ||
iShares Russell 1000 Value ETF | 50,000 | 5,518,500 | ||
iShares Russell 2000 ETF | 50,000 | 6,519,500 | ||
iShares Russell 2000 Growth ETF | 50,000 | 9,121,000 | ||
iShares Russell 2000 Value ETF | 50,000 | 4,624,500 | ||
iShares Russell 3000 ETF | 50,000 | 8,396,500 | ||
iShares Russell Mid-Cap ETF | 50,000 | 2,470,000 | ||
iShares Russell Mid-Cap Growth ETF | 50,000 | 7,038,000 | ||
iShares Russell Mid-Cap Value ETF | 50,000 | 3,632,500 | ||
iShares Russell Top 200 ETF | 50,000 | 3,471,500 | ||
iShares Russell Top 200 Growth ETF | 50,000 | 4,819,500 | ||
iShares Russell Top 200 Value ETF | 50,000 | 2,428,000 | ||
iShares S&P 100 ETF | 50,000 | 6,685,000 | ||
iShares S&P 500 Growth ETF | 50,000 | 9,441,000 | ||
iShares S&P 500 Value ETF | 50,000 | 5,329,500 | ||
iShares S&P Mid-Cap 400 Growth ETF | 50,000 | 10,183,500 | ||
iShares S&P Mid-Cap 400 Value ETF | 50,000 | 6,278,000 | ||
iShares S&P Small-Cap 600 Growth ETF | 50,000 | 7,743,000 | ||
iShares S&P Small-Cap 600 Value ETF | 50,000 | 5,698,000 | ||
iShares U.S. Aerospace & Defense ETF | 50,000 | 7,790,500 | ||
iShares U.S. Broker-Dealers & Securities Exchanges ETF | 50,000 | 2,875,500 | ||
iShares U.S. Healthcare Providers ETF | 50,000 | 9,499,000 | ||
iShares U.S. Home Construction ETF | 50,000 | 1,824,000 | ||
iShares U.S. Infrastructure ETF | 50,000 | 1,121,500 | ||
iShares U.S. Insurance ETF | 50,000 | 2,591,500 | ||
iShares U.S. Medical Devices ETF | 50,000 | 12,863,500 | ||
iShares U.S. Oil & Gas Exploration & Production ETF | 50,000 | 1,680,000 | ||
iShares U.S. Oil Equipment & Services ETF | 50,000 | 391,500 | ||
iShares U.S. Pharmaceuticals ETF | 50,000 | 7,618,500 | ||
iShares U.S. Real Estate ETF | 50,000 | 3,803,000 | ||
iShares U.S. Regional Banks ETF | 50,000 | 1,682,500 | ||
iShares U.S. Telecommunications ETF | 50,000 | 1,361,000 |
Fund |
Standard
Creation
Transaction Fee |
Maximum
Additional
Charge for Creations1 |
||
iShares Core S&P 500 ETF | $ 1,250 | 3.0% | ||
iShares Core S&P Mid-Cap ETF | 1,000 | 3.0% | ||
iShares Core S&P Small-Cap ETF | 1,500 | 3.0% | ||
iShares Core S&P Total U.S. Stock Market ETF | 3,000 | 3.0% | ||
iShares Core S&P U.S. Growth ETF | 3,000 | 3.0% | ||
iShares Core S&P U.S. Value ETF | 3,000 | 3.0% | ||
iShares Europe ETF | 10,000 | 3.0% | ||
iShares Expanded Tech Sector ETF | 650 | 3.0% | ||
iShares Expanded Tech-Software Sector ETF | 250 | 3.0% | ||
iShares Factors US Blend Style ETF | 600 | 3.0% | ||
iShares Factors US Growth Style ETF | 400 | 3.0% | ||
iShares Factors US Mid Blend Style ETF | 800 | 3.0% | ||
iShares Factors US Small Blend Style ETF | 1,650 | 3.0% | ||
iShares Factors US Value Style ETF | 475 | 3.0% | ||
iShares Focused Value Factor ETF | 150 | 3.0% | ||
iShares Global 100 ETF | 2,000 | 3.0% | ||
iShares Global Clean Energy ETF | 300 | 7.0% | ||
iShares Global Comm Services ETF | 900 | 7.0% | ||
iShares Global Consumer Discretionary ETF | 2,200 | 7.0% | ||
iShares Global Consumer Staples ETF | 1,800 | 3.0% | ||
iShares Global Energy ETF | 600 | 7.0% | ||
iShares Global Financials ETF | 4,000 | 7.0% | ||
iShares Global Industrials ETF | 2,200 | 7.0% | ||
iShares Global Infrastructure ETF | 1,600 | 7.0% | ||
iShares Global Utilities ETF | 1,600 | 7.0% | ||
iShares International Developed Property ETF | 4,500 | 7.0% | ||
iShares International Preferred Stock ETF | 700 | 3.0% | ||
iShares JPX-Nikkei 400 ETF | 3,000 | 3.0% | ||
iShares Micro-Cap ETF | 3,000 | 3.0% | ||
iShares Mortgage Real Estate ETF | 250 | 3.0% | ||
iShares Nasdaq Biotechnology ETF | 300 | 3.0% | ||
iShares North American Natural Resources ETF | 500 | 3.0% | ||
iShares North American Tech-Multimedia Networking ETF | 250 | 3.0% | ||
iShares PHLX Semiconductor ETF | 250 | 3.0% | ||
iShares Preferred and Income Securities ETF | 750 | 3.0% | ||
iShares Residential Real Estate ETF | 250 | 3.0% | ||
iShares Russell 1000 ETF | 2,500 | 3.0% | ||
iShares Russell 1000 Growth ETF | 1,450 | 3.0% | ||
iShares Russell 1000 Pure U.S. Revenue ETF | 1,200 | 3.0% | ||
iShares Russell 1000 Value ETF | 1,750 | 3.0% | ||
iShares Russell 2000 ETF | 3,000 | 3.0% | ||
iShares Russell 2000 Growth ETF | 2,800 | 3.0% | ||
iShares Russell 2000 Value ETF | 3,000 | 3.0% | ||
iShares Russell 3000 ETF | 3,000 | 3.0% | ||
iShares Russell Mid-Cap ETF | 2,000 | 3.0% | ||
iShares Russell Mid-Cap Growth ETF | 1,150 | 3.0% | ||
iShares Russell Mid-Cap Value ETF | 1,400 | 3.0% | ||
iShares Russell Top 200 ETF | 500 | 3.0% | ||
iShares Russell Top 200 Growth ETF | 300 | 3.0% | ||
iShares Russell Top 200 Value ETF | 300 | 3.0% | ||
iShares S&P 100 ETF | 250 | 3.0% | ||
iShares S&P 500 Growth ETF | 700 | 3.0% |
Fund |
Standard
Creation
Transaction Fee |
Maximum
Additional
Charge for Creations1 |
||
iShares S&P 500 Value ETF | 900 | 3.0% | ||
iShares S&P Mid-Cap 400 Growth ETF | 550 | 3.0% | ||
iShares S&P Mid-Cap 400 Value ETF | 700 | 3.0% | ||
iShares S&P Small-Cap 600 Growth ETF | 900 | 3.0% | ||
iShares S&P Small-Cap 600 Value ETF | 1,100 | 3.0% | ||
iShares U.S. Aerospace & Defense ETF | 250 | 3.0% | ||
iShares U.S. Broker-Dealers & Securities Exchanges ETF | 250 | 3.0% | ||
iShares U.S. Healthcare Providers ETF | 250 | 3.0% | ||
iShares U.S. Home Construction ETF | 250 | 3.0% | ||
iShares U.S. Infrastructure ETF | 475 | 3.0% | ||
iShares U.S. Insurance ETF | 250 | 3.0% | ||
iShares U.S. Medical Devices ETF | 250 | 3.0% | ||
iShares U.S. Oil & Gas Exploration & Production ETF | 250 | 3.0% | ||
iShares U.S. Oil Equipment & Services ETF | 250 | 3.0% | ||
iShares U.S. Pharmaceuticals ETF | 250 | 3.0% | ||
iShares U.S. Real Estate ETF | 250 | 3.0% | ||
iShares U.S. Regional Banks ETF | 250 | 3.0% | ||
iShares U.S. Telecommunications ETF | 250 | 3.0% |
1 | As a percentage of the net asset value per Creation Unit. |
Fund |
Standard
Redemption
Transaction Fee |
Maximum
Additional
Charge for Redemptions* |
||
iShares Core S&P 500 ETF | $ 1,250 | 2.0% | ||
iShares Core S&P Mid-Cap ETF | 1,000 | 2.0% | ||
iShares Core S&P Small-Cap ETF | 1,500 | 2.0% | ||
iShares Core S&P Total U.S. Stock Market ETF | 3,000 | 2.0% | ||
iShares Core S&P U.S. Growth ETF | 3,000 | 2.0% | ||
iShares Core S&P U.S. Value ETF | 3,000 | 2.0% | ||
iShares Europe ETF | 10,000 | 2.0% | ||
iShares Expanded Tech Sector ETF | 650 | 2.0% | ||
iShares Expanded Tech-Software Sector ETF | 250 | 2.0% | ||
iShares Factors US Blend Style ETF | 600 | 2.0% |
Fund |
Standard
Redemption
Transaction Fee |
Maximum
Additional
Charge for Redemptions* |
||
iShares Factors US Growth Style ETF | 400 | 2.0% | ||
iShares Factors US Mid Blend Style ETF | 800 | 2.0% | ||
iShares Factors US Small Blend Style ETF | 1,650 | 2.0% | ||
iShares Factors US Value Style ETF | 475 | 2.0% | ||
iShares Focused Value Factor ETF | 150 | 2.0% | ||
iShares Global 100 ETF | 2,000 | 2.0% | ||
iShares Global Clean Energy ETF | 300 | 2.0% | ||
iShares Global Comm Services ETF | 900 | 2.0% | ||
iShares Global Consumer Discretionary ETF | 2,200 | 2.0% | ||
iShares Global Consumer Staples ETF | 1,800 | 2.0% | ||
iShares Global Energy ETF | 600 | 2.0% | ||
iShares Global Financials ETF | 4,000 | 2.0% | ||
iShares Global Industrials ETF | 2,200 | 2.0% | ||
iShares Global Infrastructure ETF | 1,600 | 2.0% | ||
iShares Global Utilities ETF | 1,600 | 2.0% | ||
iShares International Developed Property ETF | 4,500 | 2.0% | ||
iShares International Preferred Stock ETF | 700 | 2.0% | ||
iShares JPX-Nikkei 400 ETF | 3,000 | 2.0% | ||
iShares Micro-Cap ETF | 3,000 | 2.0% | ||
iShares Mortgage Real Estate ETF | 250 | 2.0% | ||
iShares Nasdaq Biotechnology ETF | 300 | 2.0% | ||
iShares North American Natural Resources ETF | 500 | 2.0% | ||
iShares North American Tech-Multimedia Networking ETF | 250 | 2.0% | ||
iShares PHLX Semiconductor ETF | 250 | 2.0% | ||
iShares Preferred and Income Securities ETF | 750 | 2.0% | ||
iShares Residential Real Estate ETF | 250 | 2.0% | ||
iShares Russell 1000 ETF | 2,500 | 2.0% | ||
iShares Russell 1000 Growth ETF | 1,450 | 2.0% | ||
iShares Russell 1000 Pure U.S. Revenue ETF | 1,200 | 2.0% | ||
iShares Russell 1000 Value ETF | 1,750 | 2.0% | ||
iShares Russell 2000 ETF | 3,000 | 2.0% | ||
iShares Russell 2000 Growth ETF | 2,800 | 2.0% | ||
iShares Russell 2000 Value ETF | 3,000 | 2.0% | ||
iShares Russell 3000 ETF | 3,000 | 2.0% | ||
iShares Russell Mid-Cap ETF | 2,000 | 2.0% | ||
iShares Russell Mid-Cap Growth ETF | 1,150 | 2.0% | ||
iShares Russell Mid-Cap Value ETF | 1,400 | 2.0% | ||
iShares Russell Top 200 ETF | 500 | 2.0% | ||
iShares Russell Top 200 Growth ETF | 300 | 2.0% | ||
iShares Russell Top 200 Value ETF | 300 | 2.0% | ||
iShares S&P 100 ETF | 250 | 2.0% | ||
iShares S&P 500 Growth ETF | 700 | 2.0% | ||
iShares S&P 500 Value ETF | 900 | 2.0% | ||
iShares S&P Mid-Cap 400 Growth ETF | 550 | 2.0% | ||
iShares S&P Mid-Cap 400 Value ETF | 700 | 2.0% | ||
iShares S&P Small-Cap 600 Growth ETF | 900 | 2.0% | ||
iShares S&P Small-Cap 600 Value ETF | 1,100 | 2.0% | ||
iShares U.S. Aerospace & Defense ETF | 250 | 2.0% | ||
iShares U.S. Broker-Dealers & Securities Exchanges ETF | 250 | 2.0% | ||
iShares U.S. Healthcare Providers ETF | 250 | 2.0% | ||
iShares U.S. Home Construction ETF | 250 | 2.0% | ||
iShares U.S. Infrastructure ETF | 475 | 2.0% |
Fund |
Standard
Redemption
Transaction Fee |
Maximum
Additional
Charge for Redemptions* |
||
iShares U.S. Insurance ETF | 250 | 2.0% | ||
iShares U.S. Medical Devices ETF | 250 | 2.0% | ||
iShares U.S. Oil & Gas Exploration & Production ETF | 250 | 2.0% | ||
iShares U.S. Oil Equipment & Services ETF | 250 | 2.0% | ||
iShares U.S. Pharmaceuticals ETF | 250 | 2.0% | ||
iShares U.S. Real Estate ETF | 250 | 2.0% | ||
iShares U.S. Regional Banks ETF | 250 | 2.0% | ||
iShares U.S. Telecommunications ETF | 250 | 2.0% |
* | As a percentage of the net asset value per Creation Unit, inclusive of the standard redemption transaction fee. |
Fund |
Non-Expiring
Capital Loss
Carryforward |
|
iShares Core S&P 500 ETF | $ 634,578,764 | |
iShares Core S&P Mid-Cap ETF | 1,516,049,353 | |
iShares Core S&P Small-Cap ETF | 1,203,230,804 | |
iShares Core S&P Total U.S. Stock Market ETF | 170,767,501 | |
iShares Core S&P U.S. Growth ETF | 236,982,442 | |
iShares Core S&P U.S. Value ETF | 116,887,568 | |
iShares Europe ETF | 247,834,032 | |
iShares Expanded Tech Sector ETF | 6,231,337 | |
iShares Expanded Tech-Software Sector ETF | 6,303,205 | |
iShares Factors US Growth Style ETF | 35,927 | |
iShares Factors US Value Style ETF | 33,578 | |
iShares Focused Value Factor ETF | 338,591 | |
iShares Global 100 ETF | 73,980,341 | |
iShares Global Clean Energy ETF | 57,255,565 | |
iShares Global Comm Services ETF | 103,327,199 | |
iShares Global Consumer Discretionary ETF | 11,646,660 | |
iShares Global Consumer Staples ETF | 9,433,515 | |
iShares Global Energy ETF | 127,386,605 | |
iShares Global Financials ETF | 48,803,263 | |
iShares Global Industrials ETF | 16,778,402 | |
iShares Global Infrastructure ETF | 151,587,611 | |
iShares Global Utilities ETF | 30,869,715 | |
iShares International Developed Property ETF | 23,371,231 |
Fund |
Non-Expiring
Capital Loss
Carryforward |
|
iShares International Preferred Stock ETF | 16,400,937 | |
iShares JPX-Nikkei 400 ETF | 19,088,125 | |
iShares Micro-Cap ETF | 118,564,283 | |
iShares Mortgage Real Estate ETF | 34,673,289 | |
iShares Residential Real Estate ETF | 5,018,968 | |
iShares Nasdaq Biotechnology ETF | 655,756,812 | |
iShares North American Natural Resources ETF | 403,483,832 | |
iShares North American Tech-Multimedia Networking ETF | 65,329,897 | |
iShares PHLX Semiconductor ETF | 27,906,577 | |
iShares Preferred and Income Securities ETF | 1,459,136,860 | |
iShares Russell 1000 ETF | 122,396,042 | |
iShares Russell 1000 Growth ETF | 706,979,434 | |
iShares Russell 1000 Pure U.S. Revenue ETF | 67,120 | |
iShares Russell 1000 Value ETF | 453,749,616 | |
iShares Russell 2000 ETF | 5,130,624,101 | |
iShares Russell 2000 Growth ETF | 891,849,139 | |
iShares Russell 2000 Value ETF | 480,512,762 | |
iShares Russell 3000 ETF | 39,413,905 | |
iShares Russell Mid-Cap ETF | 148,780,438 | |
iShares Russell Mid-Cap Growth ETF | 301,752,321 | |
iShares Russell Mid-Cap Value ETF | 230,157,067 | |
iShares Russell Top 200 ETF | 2,277,125 | |
iShares Russell Top 200 Growth ETF | 33,831,940 | |
iShares Russell Top 200 Value ETF | 1,355,111 | |
iShares S&P 100 ETF | 113,238,631 | |
iShares S&P 500 Growth ETF | 677,876,502 | |
iShares S&P 500 Value ETF | 416,249,228 | |
iShares S&P Mid-Cap 400 Growth ETF | 340,937,915 | |
iShares S&P Mid-Cap 400 Value ETF | 398,181,116 | |
iShares S&P Small-Cap 600 Growth ETF | 307,435,232 | |
iShares S&P Small-Cap 600 Value ETF | 458,791,332 | |
iShares U.S. Aerospace & Defense ETF | 196,788,244 | |
iShares U.S. Broker-Dealers & Securities Exchanges ETF | 32,126,015 | |
iShares U.S. Healthcare Providers ETF | 97,142,424 | |
iShares U.S. Home Construction ETF | 36,301,853 | |
iShares U.S. Infrastructure ETF | 29,247 | |
iShares U.S. Insurance ETF | 1,667,808 | |
iShares U.S. Medical Devices ETF | 37,052,155 | |
iShares U.S. Oil & Gas Exploration & Production ETF | 103,489,644 | |
iShares U.S. Oil Equipment & Services ETF | 202,655,454 | |
iShares U.S. Pharmaceuticals ETF | 161,449,195 | |
iShares U.S. Real Estate ETF | 41,177,503 | |
iShares U.S. Regional Banks ETF | 11,593,640 |
Fund |
Non-Expiring
Capital Loss
Carryforward |
|
iShares U.S. Telecommunications ETF | 202,192,179 |
• | Boards and directors |
• | Auditors and audit-related issues |
• | Capital structure, mergers, asset sales and other special transactions |
• | Compensation and benefits |
• | Environmental and social issues |
• | General corporate governance matters and shareholder protections |
• | establishing an appropriate corporate governance structure |
• | supporting and overseeing management in setting long -term strategic goals, applicable measures of value-creation and milestones that will demonstrate progress, and steps taken if any obstacles are anticipated or incurred |
• | ensuring the integrity of financial statements |
• | making independent decisions regarding mergers, acquisitions and disposals |
• | establishing appropriate executive compensation structures |
• | addressing business issues, including environmental and social issues, when they have the potential to materially impact company reputation and performance |
• | current or former employment at the company or a subsidiary within the past several years |
• | being, or representing, a shareholder with a substantial shareholding in the company |
• | interlocking directorships |
• | having any other interest, business or other relationship which could, or could reasonably be perceived to, materially interfere with the director’s ability to act in the best interests of the company |
1) | publish a disclosure in line with industry-specific SASB guidelines by year-end, if they have not already done so, or disclose a similar set of data in a way that is relevant to their particular business; and |
2) | disclose climate-related risks in line with the TCFD’s recommendations, if they have not already done so. This should include the company’s plan for operating under a scenario where the Paris Agreement’s goal of limiting global warming to less than two degrees is fully realized, as expressed by the TCFD guidelines. |
• | The company has already taken sufficient steps to address the concern |
• | The company is in the process of actively implementing a response |
• | There is a clear and material economic disadvantage to the company in the near-term if the issue is not addressed in the manner requested by the shareholder proposal |
• | BlackRock clients who may be issuers of securities or proponents of shareholder resolutions |
• | BlackRock business partners or third parties who may be issuers of securities or proponents of shareholder resolutions |
• | BlackRock employees who may sit on the boards of public companies held in Funds managed by BlackRock |
• | Significant BlackRock, Inc. investors who may be issuers of securities held in Funds managed by BlackRock |
• | Securities of BlackRock, Inc. or BlackRock investment funds held in Funds managed by BlackRock |
• | BlackRock, Inc. board members who serve as senior executives of public companies held in Funds managed by BlackRock |
• | Adopted the Guidelines which are designed to protect and enhance the economic value of the companies in which BlackRock invests on behalf of clients. |
• | Established a reporting structure that separates BIS from employees with sales, vendor management or business partnership roles. In addition, BlackRock seeks to ensure that all engagements with corporate issuers, dissident shareholders or shareholder proponents are managed consistently and without regard to BlackRock’s relationship with such parties. Clients or business partners are not given special treatment or differentiated access to BIS. BIS prioritizes engagements based on factors including but not limited to our need for additional information to make a voting decision or our view on the likelihood that an engagement could lead to positive outcome(s) over time for the economic value of the company. Within the normal course of business, BIS may engage directly with BlackRock clients, business partners and/or third parties, and/or with employees with sales, vendor management or business partnership roles, in discussions regarding our approach to stewardship, general corporate governance matters, client reporting needs, and/or to otherwise ensure that proxy-related client service levels are met. |
• | Determined to engage, in certain instances, an independent fiduciary to vote proxies as a further safeguard to avoid potential conflicts of interest, to satisfy regulatory compliance requirements, or as may be otherwise required by applicable law. In such circumstances, the independent fiduciary provides BlackRock’s proxy voting agent with instructions, in accordance with the Guidelines, as to how to vote such proxies, and BlackRock’s proxy voting agent votes the proxy in accordance with the independent fiduciary’s determination. BlackRock uses an independent fiduciary to vote proxies of (i) any company that is affiliated with BlackRock, Inc., (ii) any public company that includes BlackRock employees on its board of directors, (iii) The PNC Financial Services Group, Inc., (iv) any public company of which a BlackRock, Inc. board member serves as a senior executive, and (v) companies when legal or regulatory requirements compel BlackRock to use an independent fiduciary. In selecting an independent fiduciary, we assess several characteristics, including but not limited to: independence, an ability to analyze proxy issues and vote in the best economic interest of our clients, reputation for reliability and integrity, and operational capacity to accurately deliver the assigned votes in a timely manner. We may engage more than one independent fiduciary, in part in order to mitigate potential or perceived conflicts of interest at an independent fiduciary. The Global Committee appoints and reviews the performance of the independent fiduciar(ies), generally on an annual basis. |
Contents | |
Introduction | A-16 |
Voting guidelines | A-16 |
Boards and directors | A-16 |
- Director elections | A-16 |
- Independence | A-16 |
- Oversight | A-17 |
- Responsiveness to shareholders | A-17 |
- Shareholder rights | A-17 |
- Board composition and effectiveness | A-18 |
- Board size | A-19 |
- CEO and management succession planning | A-19 |
- Classified board of directors / staggered terms | A-19 |
- Contested director elections | A-19 |
- Cumulative voting | A-19 |
- Director compensation and equity programs | A-19 |
- Majority vote requirements | A-19 |
- Risk oversight | A-20 |
- Separation of chairman and CEO | A-20 |
Auditors and audit-related issues | A-20 |
Capital structure proposals | A-21 |
- Equal voting rights | A-21 |
- Blank check preferred stock | A-21 |
- Increase in authorized common shares | A-21 |
- Increase or issuance of preferred stock | A-21 |
- Stock splits | A-22 |
Mergers, asset sales, and other special transactions | A-22 |
- Poison pill plans | A-22 |
- Reimbursement of expenses for successful shareholder campaigns | A-22 |
Executive Compensation | A-22 |
- Advisory resolutions on executive compensation (“Say on Pay”) | A-23 |
- Advisory votes on the frequency of Say on Pay resolutions | A-23 |
- Claw back proposals | A-23 |
- Employee stock purchase plans | A-23 |
- Equity compensation plans | A-23 |
- Golden parachutes | A-23 |
- Option exchanges | A-24 |
- Pay-for-Performance plans | A-24 |
- Supplemental executive retirement plans | A-24 |
Environmental and social issues | A-24 |
- Climate risk | A-25 |
- Corporate political activities | A-26 |
General corporate governance matters | A-26 |
- Adjourn meeting to solicit additional votes | A-26 |
- Bundled proposals | A-26 |
- Exclusive forum provisions | A-26 |
- Multi-jurisdictional companies | A-26 |
- Other business | A-27 |
- Reincorporation | A-27 |
- IPO governance | A-27 |
Contents | |
Shareholder Protections | A-27 |
- Amendment to charter / articles / bylaws | A-27 |
- Proxy access | A-28 |
- Right to act by written consent | A-28 |
- Right to call a special meeting | A-28 |
- Simple majority voting | A-28 |
• | Boards and directors |
• | Auditors and audit-related issues |
• | Capital structure |
• | Mergers, asset sales, and other special transactions |
• | Executive compensation |
• | Environmental and social issues |
• | General corporate governance matters |
• | Shareholder protections |
• | Employment as a senior executive by the company or a subsidiary within the past five years |
• | An equity ownership in the company in excess of 20% |
• | Having any other interest, business, or relationship which could, or could reasonably be perceived to, materially interfere with the director’s ability to act in the best interests of the company |
• | Where the board has failed to exercise oversight with regard to accounting practices or audit oversight, we will consider voting against the current audit committee, and any other members of the board who may be responsible. For example, this may apply to members of the audit committee during a period when the board failed to facilitate quality, independent auditing if substantial accounting irregularities suggest insufficient oversight by that committee |
• | Members of the compensation committee during a period in which executive compensation appears excessive relative to performance and peers, and where we believe the compensation committee has not already substantially addressed this issue |
• | The chair of the nominating / governance committee, or where no chair exists, the nominating / governance committee member with the longest tenure, where the board is not comprised of a majority of independent directors. However, this would not apply in the case of a controlled company |
• | Where it appears the director has acted (at the company or at other companies) in a manner that compromises his / her reliability to represent the best long-term economic interests of shareholders |
• | Where a director has a pattern of poor attendance at combined board and applicable key committee meetings. Excluding exigent circumstances, BlackRock generally considers attendance at less than 75% of the combined board and applicable key committee meetings by a board member to be poor attendance |
• | Where a director serves on an excess number of boards, which may limit his / her capacity to focus on each board’s requirements. The following illustrates the maximum number of boards on which a director may serve, before he / she is considered to be over-committed: |
Public
Company CEO |
#
Outside
Public Boards* |
Total
# of
Public Boards |
|||
Director A | x | 1 | 2 | ||
Director B | 3 | 4 |
* | In addition to the company under review |
• | The independent chair or lead independent director, members of the nominating / governance committee, and / or the longest tenured director(s), where we observe a lack of board responsiveness to shareholders, evidence of board entrenchment, and / or failure to promote adequate board succession planning |
• | The chair of the nominating / governance committee, or where no chair exists, the nominating / governance committee member with the longest tenure, where board member(s) at the most recent election of directors have received withhold votes from more than 30% of shares voted and the board has not taken appropriate action to respond to shareholder concerns. This may not apply in cases where BlackRock did not support the initial withhold vote |
• | The independent chair or lead independent director and / or members of the nominating / governance committee, where a board fails to implement shareholder proposals that receive a majority of votes cast at a prior shareholder meeting, and the proposals, in our view, have a direct and substantial impact on shareholders’ fundamental rights or long-term economic interests |
• | The independent chair or lead independent director and members of the governance committee, where a board implements or renews a poison pill without shareholder approval |
• | The independent chair or lead independent director and members of the governance committee, where a board amends the charter / articles / bylaws such that the effect may be to entrench directors or to significantly reduce shareholder rights |
• | Members of the compensation committee where the company has repriced options without shareholder approval |
• | If a board maintains a classified structure, it is possible that the director(s) with whom we have a particular concern may not be subject to election in the year that the concern arises. In such situations, if we have a concern regarding a committee or committee chair that is not up for re-election, we will generally register our concern by withholding votes from all available members of the relevant committee |
• | The mix of competencies, experience, and other qualities required to effectively oversee and guide management in light of the stated long-term strategy of the company |
• | The process by which candidates are identified and selected, including whether professional firms or other sources outside of incumbent directors’ networks have been engaged to identify and / or assess candidates |
• | The process by which boards evaluate themselves and any significant outcomes of the evaluation process, without divulging inappropriate and / or sensitive details |
• | The consideration given to board diversity, including, but not limited to, gender, ethnicity, race, age, experience, geographic location, skills, and perspective in the nomination process |
Combined
Chair / CEO Model |
Separate
Chair Model |
||||
Chair / CEO | Lead Director | Chair | |||
Board Meetings | Authority to call full meetings of the board of directors |
Attends
full meetings of the board of directors
Authority to call meetings of independent directors Briefs CEO on issues arising from executive sessions |
Authority to call full meetings of the board of directors | ||
Agenda | Primary responsibility for shaping board agendas, consulting with the lead director | Collaborates with chair / CEO to set board agenda and board information | Primary responsibility for shaping board agendas, in conjunction with CEO | ||
Board Communications | Communicates with all directors on key issues and concerns outside of full board meetings | Facilitates discussion among independent directors on key issues and concerns outside of full board meetings, including contributing to the oversight of CEO and management succession planning | Facilitates discussion among independent directors on key issues and concerns outside of full board meetings, including contributing to the oversight of CEO and management succession planning |
• | Appears to have a legitimate financing motive for requesting blank check authority |
• | Has committed publicly that blank check preferred shares will not be used for anti-takeover purposes |
• | Has a history of using blank check preferred stock for financings |
• | Has blank check preferred stock previously outstanding such that an increase would not necessarily provide further anti-takeover protection but may provide greater financing flexibility |
• | The degree to which the proposed transaction represents a premium to the company’s trading price. We consider the share price over multiple time periods prior to the date of the merger announcement. In most cases, business combinations should provide a premium. We may consider comparable transaction analyses provided by the parties’ financial advisors and our own valuation assessments. For companies facing insolvency or bankruptcy, a premium may not apply |
• | There should be clear strategic, operational, and / or financial rationale for the combination |
• | Unanimous board approval and arm’s-length negotiations are preferred. We will consider whether the transaction involves a dissenting board or does not appear to be the result of an arm’s-length bidding process. We may also consider whether executive and / or board members’ financial interests in a given transaction appear likely to affect their ability to place shareholders’ interests before their own |
• | We prefer transaction proposals that include the fairness opinion of a reputable financial advisor assessing the value of the transaction to shareholders in comparison to recent similar transactions |
• | Whether we believe that the triggering event is in the best interest of shareholders |
• | Whether management attempted to maximize shareholder value in the triggering event |
• | The percentage of total premium or transaction value that will be transferred to the management team, rather than shareholders, as a result of the golden parachute payment |
• | Whether excessively large excise tax gross-up payments are part of the pay-out |
• | Whether the pay package that serves as the basis for calculating the golden parachute payment was reasonable in light of performance and peers |
• | Whether the golden parachute payment will have the effect of rewarding a management team that has failed to effectively manage the company |
• | The company has experienced significant stock price decline as a result of macroeconomic trends, not individual company performance |
• | Directors and executive officers are excluded; the exchange is value neutral or value creative to shareholders; tax, accounting, and other technical considerations have been fully contemplated |
• | There is clear evidence that absent repricing, the company will suffer serious employee incentive or retention and recruiting problems |
• | Publish disclosures in line with industry specific SASB guidelines by year-end, if they have not already done so, or disclose a similar set of data in a way that is relevant to their particular business; and |
• | Disclose climate-related risks in line with the TCFD’s recommendations, if they have not already done so. This should include the company’s plan for operating under a scenario where the Paris Agreement’s goal of limiting global warming to less than two degrees is fully realized, as expressed by the TCFD guidelines. |
• | See our commentary on our approach to engagement on TCFD and SASB aligned reporting for greater detail of our expectations. |
• | The company has already taken sufficient steps to address the concern |
• | The company is in the process of actively implementing a response |
• | There is a clear and material economic disadvantage to the company in the near-term if the issue is not addressed in the manner requested by the shareholder proposal |
Albania | |||
January 1 | April 13 | September 7 | |
January 2 | April 20 | November 30 | |
March 14 | May 1 | December 8 | |
March 24 | July 31 | December 25 |
Australia | |||
January 1 | May 4 | October 5 | |
January 27 | June 1 | November 3 | |
March 2 | June 8 | December 24^ | |
March 9 | August 3 | December 25 | |
April 10 | August 12 | December 28 | |
April 13 | September 28 | December 31^ |
Austria | |||
January 1 | May 1 | December 24 | |
April 10 | June 1 | December 25 | |
April 13 | October 26 | December 31 |
Bahrain | |||
January 1 | May 26 | October 29 | |
May 24 | August 2 | December 16 | |
May 25 | August 20 | December 17 |
Bangladesh | |||
March 17 | May 21 | August 11 | |
March 26 | May 24 | August 30 | |
April 9 | May 25 | October 26 | |
April 14 | July 1 | December 16 | |
May 6 | August 2 | December 31 |
Belgium | |||
January 1 | May 21 | December 24^ | |
January 10^ | May 22 | December 25 | |
April 10 | June 1 | December 31^ | |
April 13 | July 21 | ||
May 1 | November 11 |
Benin | |||
January 1 | May 21 | August 7 | |
April 13 | June 1 | September 11 | |
May 1 | July 7 | December 25 |
Bermuda | |||
January 1 | July 30 | December 25 | |
April 10 | July 31 | December 28 | |
May 29 | September 7 | ||
June 15 | November 11 |
Bosnia and Herzegovina | |||
January 1 | April 17 | November 21 | |
January 2 | April 20 | November 25 | |
January 7 | May 1 | December 25 | |
January 9 | May 25 | ||
April 13 | July 31 |
Botswana | |||
January 1 | May 1 | July 21 | |
January 2 | May 21 | September 30 | |
April 10 | July 1 | October 1 | |
April 13 | July 20 | December 25 |
Brazil | |||
January 1 | May 1 | November 2 | |
February 24 | June 11 | November 20 | |
February 25 | July 9 | December 24^ | |
February 26* | September 7 | December 25 | |
April 10 | October 12 | December 31 | |
April 21 |
Bulgaria | |||
January 1 | April 20 | September 22 | |
March 3 | May 1 | December 24 | |
April 10 | May 6 | December 25 | |
April 13 | May 25 | December 28 | |
April 17 | September 7 |
Burkina Faso | |||
January 1 | May 21 | August 7 | |
April 13 | June 1 | September 11 | |
May 1 | July 7 | December 25 |
Canada | |||
January 1 | June 24 | November 11 | |
January 2 | July 1 | December 24^ | |
February 17 | August 3 | December 25 | |
April 10 | September 7 | December 28 | |
May 18 | October 12 |
Chile | |||
January 1 | July 16 | December 31 | |
April 10 | September 18 | ||
May 1 | October 12 | ||
May 21 | December 8 | ||
June 29 | December 25 |
China Connect-Bond Connect | |||
January 1 | April 30 | October 2 | |
January 27 | May 1 | October 26 | |
January 28 | June 25 | December 25 | |
April 10 | July 1 | ||
April 13 | October 1 |
Colombia | |||
January 1 | June 15 | November 2 | |
January 6 | June 22 | November 16 | |
March 23 | June 29 | December 8 | |
April 9 | July 20 | December 24 | |
April 10 | August 7 | December 25 | |
May 1 | August 17 | December 31 | |
May 25 | October 12 |
Costa Rica | |||
January 1 | May 1 | December 25 | |
April 9 | September 15 | ||
April 10 | October 12 |
Cyprus | |||
January 1 | April 13 | October 1 | |
January 6 | April 17 | October 28 | |
March 2 | April 20 | December 24 | |
March 25 | April 21 | December 25 | |
April 1 | May 1 | ||
April 10 | June 8 |
Czech Republic | |||
January 1 | May 8 | November 17 | |
April 10 | July 6 | December 24 | |
April 13 | September 28 | December 25 | |
May 1 | October 28 | December 31 |
Denmark | |||
January 1 | May 8 | June 5 | |
April 9 | May 21 | December 24 | |
April 10 | May 22 | December 25 | |
April 13 | June 1 | December 31 |
Egypt | |||
January 1 | May 24 | August 20 | |
January 7 | May 25 | October 6 | |
April 19 | July 23 | October 29 | |
April 20 | July 30 |
Estonia | |||
January 1 | May 1 | August 20 | |
February 24 | May 21 | December 24 | |
April 10 | June 23 | December 25 | |
April 13 | June 24 | December 31 |
Eswatini | |||
January 1 | May 1 | December 25 | |
April 10 | May 21 | December 28 | |
April 13 | July 22 | ||
April 20 | September 7 |
Finland | |||
January 1 | May 1 | December 25 | |
January 6 | May 21 | December 31 | |
April 10 | June 19 | ||
April 13 | December 24 |
France | ||
January 1 | May 1 | December 31^ |
April 10 | December 24^ | |
April 13 | December 25 |
Georgia | |||
January 1 | April 9 | May 26 | |
January 2 | April 17 | August 28 | |
January 7 | April 20 | October 14 | |
March 3 | May 12 | November 23 |
Germany | |||
January 1 | May 1 | December 25 | |
April 10 | June 1 | December 31 | |
April 13 | December 24 |
Ghana | |||
January 1 | May 1 | September 21 | |
January 7 | May 25 | December 4 | |
March 6 | July 30 | December 25 | |
April 10 | July 31 | December 28 | |
April 13 | August 4 |
Greece | |||
January 1 | April 13 | October 28 | |
January 6 | April 17 | December 24 | |
March 2 | April 20 | December 25 | |
March 25 | May 1 | ||
April 10 | June 8 |
Guinea-Bissau | |||
January 1 | May 21 | August 7 | |
April 13 | June 1 | September 11 | |
May 1 | July 7 | December 25 |
Hong Kong | |||
January 1 | April 30 | October 2 | |
January 27 | May 1 | October 26 | |
January 28 | June 25 | December 25 | |
April 10 | July 1 | ||
April 13 | October 1 |
Hungary | |||
January 1 | June 1 | December 24 | |
April 10 | August 20 | December 25 | |
April 13 | August 21 | ||
May 1 | October 23 |
Iceland | |||
January 1 | May 1 | December 24 | |
April 9 | May 21 | December 25 | |
April 10 | June 1 | December 31 | |
April 13 | June 17 | ||
April 23 | August 3 |
India | |||
February 19 | April 6 | October 2 | |
February 21 | April 10 | October 30 | |
March 10 | April 14 | November 16 | |
March 25 | May 1 | November 30 | |
April 1 | May 7 | December 25 | |
April 2 | May 25 |
Ireland | |||
January 1 | May 4 | December 25 | |
March 17 | June 1 | December 28 | |
April 10 | August 3 | December 29 | |
April 13 | October 26 | December 31^ | |
May 1 | December 24^ |
Italy | |||
January 1 | May 1 | December 31 | |
April 10 | December 24 | ||
April 13 | December 25 |
Ivory Coast | |||
January 1 | May 21 | August 7 | |
April 13 | June 1 | September 11 | |
May 1 | July 7 | December 25 |
Japan | |||
January 1 | April 29 | September 21 | |
January 2 | May 4 | September 22 | |
January 3 | May 5 | November 3 | |
January 13 | May 6 | November 23 | |
February 11 | July 23 | December 31 | |
February 24 | July 24 | ||
March 20 | August 10 |
Kazakhstan | |||
January 1 | March 25 | August 31 | |
January 2 | May 1 | December 1 | |
January 7 | May 7 | December 16 | |
March 9 | May 8 | December 17 | |
March 23 | July 6 | December 18 | |
March 24 | July 31 |
Kenya | |||
January 1 | May 1 | July 31 | |
April 10 | May 25 | October 20 | |
April 13 | June 1 | December 25 |
Kuwait | |||
January 1 | May 24 | August 3 | |
January 2 | May 25 | August 20 | |
February 25 | May 26 | November 1 | |
February 26 | July 30 | ||
March 22 | August 2 |
Latvia | |||
January 1 | May 21 | December 24 | |
April 10 | June 22 | December 25 | |
April 13 | June 23 | December 31 | |
May 1 | June 24 | ||
May 4 | November 18 |
Lithuania | |||
January 1 | May 1 | December 24 | |
March 11 | May 21 | December 25 | |
April 10 | June 24 | December 31 | |
April 13 | July 6 |
Luxembourg | |||
January 1 | May 1 | December 31^ | |
April 10 | December 24^ | ||
April 13 | December 25 |
Malawi | |||
January 1 | April 13 | July 6 | |
January 15 | May 1 | October 15 | |
March 3 | May 14 | December 25 | |
April 10 | May 25 |
Malaysia | |||
January 1 | May 11 | August 31 | |
January 24^ | May 25 | September 16 | |
January 27 | May 26 | October 29 | |
May 1 | July 31 | December 25 | |
May 7 | August 20 |
Mauritius | |||
January 1 | March 12 | November 2 | |
January 2 | March 25 | December 25 | |
February 21 | May 1 |
Mexico | |||
January 1 | April 10 | November 16 | |
February 3 | May 1 | December 25 | |
March 16 | September 16 | ||
April 9 | November 2 |
Morocco | |||
January 1 | July 30 | August 21 | |
May 1 | July 31 | October 30 | |
May 25 | August 14 | November 6 | |
May 26 | August 20 | November 18 |
Namibia | |||
January 1 | May 4 | December 10 | |
April 10 | May 21 | December 25 | |
April 13 | May 25 | ||
May 1 | August 26 |
New Zealand | |||
January 1 | April 13 | December 25 | |
January 2 | April 27 | December 28 | |
February 6 | June 1 | ||
April 10 | October 26 |
Niger | |||
January 1 | May 21 | August 7 | |
April 13 | June 1 | September 11 | |
May 1 | July 7 | December 25 |
Nigeria | |||
January 1 | May 25 | October 29 | |
April 10 | June 12 | December 25 | |
April 13 | July 31 | ||
May 1 | October 1 |
Norway | |||
January 1 | April 13 | December 24 | |
April 8^ | May 1 | December 25 | |
April 9 | May 21 | December 31 | |
April 10 | June 1 |
Oman | |||
January 1 | July 23 | November 18 | |
March 22 | August 20 | ||
May 24 | October 29 |
Pakistan | |||
January 1 | May 25 | August 14 | |
February 5 | May 26 | August 27 | |
March 23 | May 27 | August 28 | |
April 23 | July 1 | October 29 | |
May 1 | July 30 | October 30 | |
May 22 | July 31 | December 25 |
Panama | |||
January 1 | April 9 | November 5 | |
January 13 | April 10 | November 10 | |
February 24 | May 1 | December 8 | |
February 25 | November 3 | December 25 | |
February 26 | November 4 | December 31 |
Peru | |||
January 1 | May 1 | October 8 | |
April 9 | June 29 | December 25 | |
April 10 | July 28 |
Philippines | |||
January 1 | May 1 | November 2 | |
February 25 | June 12 | November 30 | |
April 9 | August 21 | December 8 | |
April 10 | August 31 |
Poland | |||
January 1 | May 1 | December 25 | |
January 6 | June 11 | December 31^ | |
April 10^ | November 11 | ||
April 13 | December 24^ |
Portugal | |||
January 1 | May 1 | December 31^ | |
April 10 | December 24^ | ||
April 13 | December 25 |
Qatar | |||
January 1 | May 24 | July 30 | |
February 11 | May 25 | ||
March 1 | May 26 |
Romania | |||
January 1 | May 1 | December 1 | |
January 2 | June 1 | December 25 | |
April 17 | June 8 | ||
April 20 | November 30 |
Russia | |||
January 1 | March 9 | May 11 | |
January 2 | May 1 | June 12 | |
January 7 | May 4 | November 4 | |
February 24 | May 5 |
Saudi Arabia | |||
May 24 | May 28 | August 4 | |
May 25 | July 30 | August 5 | |
May 26 | August 2 | September 23 | |
May 27 | August 3 |
Senegal | |||
January 1 | May 21 | August 7 | |
April 13 | June 1 | December 25 | |
May 1 | July 7 |
Serbia | |||
January 1 | January 7 | May 1 | |
January 2 | February 17 | November 11 | |
January 3 | April 17 | ||
January 6 | April 20 |
Singapore | |||
January 1 | May 1 | July 31 | |
January 27 | May 7 | August 10 | |
April 10 | May 25 | December 25 |
Slovakia | |||
January 1 | May 1 | November 17 | |
January 6 | May 8 | December 24 | |
April 10 | September 1 | December 25 | |
April 13 | September 15 |
Slovenia | |||
January 1 | April 27 | December 25 | |
January 2 | May 1 | December 31 | |
April 10 | June 25 | ||
April 13 | December 24 |
South Africa | |||
January 1 | May 1 | December 16 | |
April 10 | June 16 | December 25 | |
April 13 | August 10 | ||
April 27 | September 24 |
South Korea | |||
January 1 | May 1 | October 9 | |
January 24 | May 5 | December 25 | |
January 27 | September 30 | December 31 | |
April 15 | October 1 | ||
April 30 | October 2 |
Spain | |||
January 1 | May 1 | December 31^ | |
April 10 | December 24^ | ||
April 13 | December 25 |
Sri Lanka | |||
January 1 | April 10 | June 5 | |
January 10 | April 13 | August 3 | |
January 15 | April 14 | September 1 | |
February 4 | May 1 | October 1 | |
February 21 | May 7 | October 30 | |
March 9 | May 8 | December 25 | |
April 7 | May 25 | December 29 |
Sweden | |||
January 1 | April 30^ | October 30^ | |
January 6 | May 1 | December 24 | |
April 9^ | May 20^ | December 25 | |
April 10 | May 21 | December 31 | |
April 13 | June 19 |
Switzerland | |||
January 1 | April 20^ | September 14^ | |
January 2 | May 1 | December 24 | |
April 10 | May 21 | December 25 | |
April 13 | June 1 | December 31 |
Taiwan | |||
January 1 | January 29 | June 25 | |
January 23 | February 28 | June 26 | |
January 24 | April 2 | October 1 | |
January 27 | April 3 | October 2 | |
January 28 | May 1 | October 9 |
Tanzania | |||
January 1 | May 1 | October 29 | |
April 7 | July 7 | December 9 | |
April 10 | July 31 | December 25 | |
April 13 | October 14 |
Thailand | |||
January 1 | May 1 | August 12 | |
February 10 | May 4 | October 13 | |
April 6 | May 6 | October 23 | |
April 13 | June 3 | December 7 | |
April 14 | July 6 | December 10 | |
April 15 | July 28 | December 31 |
Togo | |||
January 1 | May 21 | August 7 | |
April 13 | June 1 | September 11 | |
May 1 | July 7 | December 25 |
Tunisia | |||
January 1 | May 1 | August 13 | |
January 14 | May 25 | August 20 | |
March 20 | July 30 | October 15 | |
April 9 | July 31 | October 28 |
Turkey | |||
January 1 | May 25 | July 31 | |
April 23 | May 26 | August 3 | |
May 1 | July 15 | October 28 | |
May 19 | July 30 | October 29 |
United Arab Emirates | |||
January 1 | May 26 | December 2 | |
May 24 | August 20 | December 3 | |
May 25 | December 1 |
The United Kingdom | |||
January 1 | May 8 | December 25 | |
April 10 | May 25 | December 28 | |
April 13 | August 31 |
* | The U.S. bond market has recommended early close. |
Uruguay | |||
January 1 | April 10 | October 12 | |
January 6 | May 1 | November 2 | |
February 24 | May 18 | December 25 | |
February 25 | June 19 | ||
April 9 | August 25 |
Vietnam | |||
January 1 | January 28 | May 1 | |
January 23 | January 29 | September 2 | |
January 24 | April 2 | ||
January 27 | April 30 |
Zambia | |||
January 1 | April 13 | July 7 | |
March 9 | May 1 | August 3 | |
March 12 | May 25 | October 19 | |
April 10 | July 6 | December 25 |
Zimbabwe | |||
January 1 | May 1 | December 22 | |
February 21 | May 25 | December 25 | |
April 10 | August 10 | ||
April 13 | August 11 |
2020 | ||||||
Country |
Trade
Date |
Settlement
Date |
Number
of
Days to Settle |
|||
Australia | 12/21/20 | 12/29/20 | 8 | |||
12/22/20 | 12/30/20 | 8 | ||||
12/23/20 | 01/04/21 | 12 | ||||
Bangladesh | 05/18/20 | 05/26/20 | 8 | |||
05/19/20 | 05/27/20 | 8 | ||||
05/20/20 | 05/28/20 | 8 | ||||
China | 01/21/20 | 01/31/20 | 10 | |||
01/22/20 | 02/03/20 | 12 | ||||
01/23/20 | 02/04/20 | 12 | ||||
04/28/20 | 05/06/20 | 8 | ||||
04/29/20 | 05/07/20 | 8 | ||||
04/30/20 | 05/08/20 | 8 | ||||
09/28/20 | 10/09/20 | 11 | ||||
09/29/20 | 10/12/20 | 13 | ||||
09/30/20 | 10/13/20 | 13 | ||||
China Connect – Stock Connect | 01/23/20 | 01/31/20 | 8 | |||
04/28/20 | 05/06/20 | 8 | ||||
09/30/20 | 10/09/20 | 9 | ||||
Eswatini | 04/03/20 | 04/14/20 | 11 | |||
04/06/20 | 04/15/20 | 9 | ||||
04/07/20 | 04/16/20 | 9 | ||||
04/08/20 | 04/17/20 | 9 | ||||
04/09/20 | 04/21/20 | 12 | ||||
04/14/20 | 04/22/20 | 8 | ||||
04/15/20 | 04/23/20 | 8 | ||||
04/16/20 | 04/24/20 | 8 | ||||
04/17/20 | 04/27/20 | 10 | ||||
04/24/20 | 05/04/20 | 10 | ||||
04/27/20 | 05/05/20 | 8 | ||||
04/28/20 | 05/06/20 | 8 | ||||
04/29/20 | 05/07/20 | 8 | ||||
04/30/20 | 05/08/20 | 8 | ||||
05/14/20 | 05/22/20 | 8 | ||||
05/15/20 | 05/25/20 | 10 | ||||
05/18/20 | 05/26/20 | 8 | ||||
05/19/20 | 05/27/20 | 8 | ||||
05/20/20 | 05/28/20 | 8 | ||||
07/15/20 | 07/23/20 | 8 | ||||
07/16/20 | 07/24/20 | 8 | ||||
07/17/20 | 07/27/20 | 10 | ||||
07/20/20 | 07/28/20 | 8 | ||||
07/21/20 | 07/29/20 | 8 | ||||
08/31/20 | 09/08/20 | 8 | ||||
09/01/20 | 09/09/20 | 8 | ||||
09/02/20 | 09/10/20 | 8 | ||||
09/03/20 | 09/11/20 | 8 |
2020 | ||||||
Country |
Trade
Date |
Settlement
Date |
Number
of
Days to Settle |
|||
09/04/20 | 09/14/20 | 10 | ||||
12/18/20 | 12/29/20 | 11 | ||||
12/21/20 | 12/30/20 | 9 | ||||
12/22/20 | 12/31/20 | 9 | ||||
12/23/20 | 01/04/21 | 12 | ||||
12/24/20 | 01/05/21 | 12 | ||||
Ghana | 07/28/20 | 08/05/20 | 8 | |||
07/29/20 | 08/06/20 | 8 | ||||
Indonesia | 05/19/20 | 05/28/20 | 9 | |||
05/20/20 | 05/29/20 | 9 | ||||
Ireland | 12/22/20 | 12/30/20 | 8 | |||
12/23/20 | 01/04/21 | 12 | ||||
Israel | 04/06/20 | 04/16/20 | 10 | |||
04/07/20 | 04/19/20 | 12 | ||||
09/30/20 | 10/11/20 | 11 | ||||
10/01/20 | 10/12/20 | 11 | ||||
Kuwait | 05/19/20 | 05/27/20 | 8 | |||
05/20/20 | 05/28/20 | 8 | ||||
05/21/20 | 05/31/20 | 10 | ||||
07/27/20 | 08/04/20 | 8 | ||||
07/28/20 | 08/05/20 | 8 | ||||
07/29/20 | 08/06/20 | 8 | ||||
Malawi | 01/08/20 | 01/16/20 | 8 | |||
01/09/20 | 01/17/20 | 8 | ||||
01/10/20 | 01/20/20 | 10 | ||||
01/13/20 | 01/21/20 | 8 | ||||
01/14/20 | 01/22/20 | 8 | ||||
02/25/20 | 03/04/20 | 8 | ||||
02/26/20 | 03/05/20 | 8 | ||||
02/27/20 | 03/06/20 | 8 | ||||
02/28/20 | 03/09/20 | 10 | ||||
03/02/20 | 03/10/20 | 8 | ||||
04/03/20 | 04/14/20 | 11 | ||||
04/06/20 | 04/15/20 | 9 | ||||
04/07/20 | 04/16/20 | 9 | ||||
04/08/20 | 04/17/20 | 9 | ||||
04/09/20 | 04/20/20 | 11 | ||||
04/24/20 | 05/04/20 | 10 | ||||
04/27/20 | 05/05/20 | 8 | ||||
04/28/20 | 05/06/20 | 8 | ||||
04/29/20 | 05/07/20 | 8 | ||||
04/30/20 | 05/08/20 | 8 | ||||
05/07/20 | 05/15/20 | 8 | ||||
05/08/20 | 05/18/20 | 10 |
2020 | ||||||
Country |
Trade
Date |
Settlement
Date |
Number
of
Days to Settle |
|||
05/11/20 | 05/19/20 | 8 | ||||
05/12/20 | 05/20/20 | 8 | ||||
05/13/20 | 05/21/20 | 8 | ||||
05/18/20 | 05/26/20 | 8 | ||||
05/19/20 | 05/27/20 | 8 | ||||
05/20/20 | 05/28/20 | 8 | ||||
05/21/20 | 05/29/20 | 8 | ||||
05/22/20 | 06/01/20 | 10 | ||||
06/29/20 | 07/07/20 | 8 | ||||
06/30/20 | 07/08/20 | 8 | ||||
07/01/20 | 07/09/20 | 8 | ||||
07/02/20 | 07/10/20 | 8 | ||||
07/03/20 | 07/13/20 | 10 | ||||
10/08/20 | 10/16/20 | 8 | ||||
10/09/20 | 10/19/20 | 10 | ||||
10/12/20 | 10/20/20 | 8 | ||||
10/13/20 | 10/21/20 | 8 | ||||
10/14/20 | 10/22/20 | 8 | ||||
12/18/20 | 12/28/20 | 10 | ||||
12/21/20 | 12/29/20 | 8 | ||||
12/22/20 | 12/30/20 | 8 | ||||
12/23/20 | 12/31/20 | 8 | ||||
12/24/20 | 01/04/21 | 11 | ||||
Namibia | 04/03/20 | 04/14/20 | 11 | |||
04/06/20 | 04/15/20 | 9 | ||||
04/07/20 | 04/16/20 | 9 | ||||
04/08/20 | 04/17/20 | 9 | ||||
04/09/20 | 04/20/20 | 11 | ||||
04/24/20 | 05/05/20 | 11 | ||||
04/27/20 | 05/06/20 | 9 | ||||
04/28/20 | 05/07/20 | 9 | ||||
04/29/20 | 05/08/20 | 9 | ||||
04/30/20 | 05/11/20 | 11 | ||||
05/14/20 | 05/22/20 | 8 | ||||
05/15/20 | 05/26/20 | 11 | ||||
05/18/20 | 05/27/20 | 9 | ||||
05/19/20 | 05/28/20 | 9 | ||||
05/20/20 | 05/29/20 | 9 | ||||
05/22/20 | 06/01/20 | 10 | ||||
08/19/20 | 08/27/20 | 8 | ||||
08/20/20 | 08/28/20 | 8 | ||||
08/21/20 | 08/31/20 | 10 | ||||
08/24/20 | 09/01/20 | 8 | ||||
08/25/20 | 09/02/20 | 8 | ||||
12/03/20 | 12/11/20 | 8 | ||||
12/04/20 | 12/14/20 | 10 | ||||
12/07/20 | 12/15/20 | 8 | ||||
12/08/20 | 12/16/20 | 8 | ||||
12/09/20 | 12/17/20 | 8 |
2020 | ||||||
Country |
Trade
Date |
Settlement
Date |
Number
of
Days to Settle |
|||
12/18/20 | 12/28/20 | 10 | ||||
12/21/20 | 12/29/20 | 8 | ||||
12/22/20 | 12/30/20 | 8 | ||||
12/23/20 | 12/31/20 | 8 | ||||
12/24/20 | 01/04/21 | 11 | ||||
Norway | 04/06/20 | 04/14/20 | 8 | |||
04/07/20 | 04/15/20 | 8 | ||||
Pakistan | 05/20/20 | 05/28/20 | 8 | |||
05/21/20 | 05/29/20 | 8 | ||||
Qatar | 05/19/20 | 05/27/20 | 8 | |||
05/20/20 | 05/28/20 | 8 | ||||
05/21/20 | 05/31/20 | 10 | ||||
Russia | 04/28/20 | 05/06/20 | 8 | |||
04/29/20 | 05/07/20 | 8 | ||||
04/30/20 | 05/08/20 | 8 | ||||
Saudi Arabia | 05/20/20 | 05/31/20 | 11 | |||
05/21/20 | 06/01/20 | 11 | ||||
07/28/20 | 08/06/20 | 9 | ||||
07/29/20 | 08/09/20 | 11 | ||||
Sri Lanka | 04/06/20 | 04/15/20 | 9 | |||
04/08/20 | 04/16/20 | 8 | ||||
04/09/20 | 04/17/20 | 8 | ||||
Taiwan | 01/21/20 | 01/30/20 | 9 | |||
01/22/20 | 01/31/20 | 9 | ||||
Tanzania | 04/06/20 | 04/14/20 | 8 | |||
Vietnam | 01/21/20 | 01/30/20 | 9 | |||
01/22/20 | 01/31/20 | 9 |
* | These worst-case redemption cycles are based on information regarding regular holidays available as of January 17, 2020, which may be out of date as of the date of this SAI. Based on changes in holidays, longer (worse) redemption cycles are possible. Further, regional holidays, the treatment by market participants of certain days as unofficial holidays (including days on which no or limited securities transactions occur as a result of substantially shortened trading hours), the elimination of existing holidays, or changes in local securities delivery practices, could affect the information set forth herein. |
Fund | Ticker | Listing Exchange | ||
iShares Asia 50 ETF | AIA | NASDAQ | ||
iShares Emerging Markets Infrastructure ETF | EMIF | NASDAQ | ||
iShares Global Healthcare ETF | IXJ | NYSE Arca | ||
iShares Global Materials ETF | MXI | NYSE Arca | ||
iShares Global Tech ETF | IXN | NYSE Arca | ||
iShares Global Timber & Forestry ETF | WOOD | NASDAQ | ||
iShares India 50 ETF | INDY | NASDAQ | ||
iShares International Dividend Growth ETF | IGRO | Cboe BZX | ||
iShares Latin America 40 ETF | ILF | NYSE Arca |
• | iShares Asia 50 ETF |
• | iShares Emerging Markets Infrastructure ETF |
• | iShares Global Healthcare ETF |
• | iShares Global Materials ETF |
• | iShares Global Tech ETF |
• | iShares Global Timber & Forestry ETF |
• | iShares India 50 ETF |
• | iShares International Dividend Growth ETF |
• | iShares Latin America 40 ETF |
Diversified Funds | Non-Diversified Funds | |
iShares Global Healthcare ETF | iShares Asia 50 ETF | |
iShares Global Materials ETF | iShares Emerging Markets Infrastructure ETF | |
iShares International Dividend Growth ETF | iShares Global Tech ETF | |
iShares Global Timber & Forestry ETF |
Diversified Funds | Non-Diversified Funds | |
iShares India 50 ETF | ||
iShares Latin America 40 ETF |
• | With respect to a foreign entity that holds the Indian assets directly, if the transferor of share or interest in such a foreign entity (along with its associated enterprises), at any time in the twelve months preceding the year of transfer neither holds the right of control or management in the foreign entity, nor holds voting power or share capital or interest exceeding 5% of the total voting power or total share capital or total interest in such foreign entity. |
• | With respect to a foreign entity that holds the Indian assets indirectly, if the transferor of share or interest in such foreign entity (along with its associated enterprises), at any time in the twelve months preceding the year of transfer does not hold the right of control or management in relation to the foreign entity, which would entitle them to the right of control or management in the foreign entity which directly holds the Indian assets; or does not hold voting power or share capital or interest exceeding 5% of the total voting power or total share capital or total interest in the foreign entity, which results in holding the same share capital or voting power in the entity which directly holds the Indian assets. |
• | creates rights, or obligations, which are not ordinarily created between persons dealing at arm's length; |
• | results, directly or indirectly, in the misuse, or abuse, of the provisions of IT Act; |
• | lacks commercial substance; or |
• | is entered into, or carried out, by means, or in a manner, which are not ordinarily employed for bona fide purposes. |
• | any arrangement where the aggregate tax benefit to all the parties of the arrangement in the relevant financial year does not exceed INR 30 Million; |
• | foreign institutional investors (“FIIs”) that choose not to take any benefit under any tax treaty entered with India and has invested in listed or unlisted securities with prior permission of the competent authority in accordance with the applicable regulations; |
• | non-resident investor in an FII who has invested in an FII, directly or indirectly, by way of an offshore derivative instrument or otherwise; or |
• | any income derived from the transfer of shares or interests made prior to April 1, 2017. |
1. | Concentrate its investments (i.e., hold 25% or more of its total assets in the stocks of a particular industry or group of industries), except that each Fund will concentrate to approximately the same extent that its Underlying Index concentrates in the stocks of such particular industry or group of industries. For purposes of this limitation, securities of the U.S. government (including its agencies and instrumentalities), repurchase agreements collateralized by U.S. government securities, and securities of state or municipal governments and their political subdivisions are not considered to be issued by members of any industry. |
2. | Borrow money, except that (i) each Fund may borrow from banks for temporary or emergency (not leveraging) purposes, including the meeting of redemption requests which might otherwise require the untimely disposition of securities, and (ii) each Fund may, to the extent consistent with its investment policies, enter into repurchase agreements, reverse repurchase agreements, forward roll transactions and similar investment strategies and techniques. To the extent that it engages in transactions described in (i) and (ii), each Fund will be limited so that no more than 33 1/3% of the value of its total assets (including the amount borrowed) is derived from such transactions. Any borrowings which come to exceed this amount will be reduced in accordance with applicable law. |
3. | Issue “senior securities” as defined in the 1940 Act and the rules, regulations and orders thereunder, except as permitted under the 1940 Act and the rules, regulations and orders thereunder. |
4. | Make loans. This restriction does not apply to: (i) the purchase of debt obligations in which each Fund may invest consistent with its investment objectives and policies; (ii) repurchase agreements and reverse repurchase agreements; and (iii) loans of its portfolio securities, to the fullest extent permitted under the 1940 Act. |
5. | Purchase or sell real estate, real estate mortgages, commodities or commodity contracts, but this restriction shall not prevent each Fund from trading in futures contracts and options on futures contracts (including options on currencies to the extent consistent with each Fund’s investment objective and policies). |
6. | Engage in the business of underwriting securities issued by other persons, except to the extent that each Fund may technically be deemed to be an underwriter under the 1933 Act in disposing of portfolio securities. |
1. | Concentrate its investments (i.e., hold 25% or more of its total assets in the stocks of a particular industry or group of industries), except that the Fund will concentrate to approximately the same extent that its Underlying Index concentrates in the stocks of such particular industry or group of industries. For purposes of this limitation, securities of the U.S. government (including its agencies and instrumentalities), repurchase agreements collateralized by U.S. government securities, and securities of state or municipal governments and their political subdivisions are not considered to be issued by members of any industry. |
2. | Borrow money, except that (i) the Fund may borrow from banks for temporary or emergency (not leveraging) purposes, including the meeting of redemption requests which might otherwise require the untimely disposition of securities, and (ii) the Fund may, to the extent consistent with its investment policies, enter into repurchase agreements, reverse repurchase agreements, forward roll transactions and similar investment strategies and techniques. To the extent that it |
engages in transactions described in (i) and (ii), the Fund will be limited so that no more than 33 1/3% of the value of its total assets (including the amount borrowed) is derived from such transactions. Any borrowings which come to exceed this amount will be reduced in accordance with applicable law. | |
3. | Issue any senior security, except as permitted under the 1940 Act, as amended, and as interpreted, modified or otherwise permitted by regulatory authority having jurisdiction, from time to time. |
4. | Make loans, except as permitted under the 1940 Act. |
5. | Purchase or sell real estate, real estate mortgages, commodities or commodity contracts, but this restriction shall not prevent the Fund from trading in futures contracts and options on futures contracts (including options on currencies to the extent consistent with the Fund’s investment objective and policies). |
6. | Engage in the business of underwriting securities issued by other persons, except to the extent that the Fund may technically be deemed to be an underwriter under the 1933 Act in disposing of portfolio securities. |
1. | Concentrate its investments (i.e., invest 25% or more of its total assets in the securities of a particular industry or group of industries), except that each Fund will concentrate to approximately the same extent that its Underlying Index concentrates in the securities of a particular industry or group of industries. For purposes of this limitation, securities of the U.S. government (including its agencies and instrumentalities), repurchase agreements collateralized by U.S. government securities, and securities of state or municipal governments and their political subdivisions are not considered to be issued by members of any industry. |
2. | Borrow money, except that (i) each Fund may borrow from banks for temporary or emergency (not leveraging) purposes, including the meeting of redemption requests which might otherwise require the untimely disposition of securities; and (ii) each Fund may, to the extent consistent with its investment policies, enter into repurchase agreements, reverse repurchase agreements, forward roll transactions and similar investment strategies and techniques. To the extent that it engages in transactions described in (i) and (ii), each Fund will be limited so that no more than 33 1/3% of the value of its total assets (including the amount borrowed) is derived from such transactions. Any borrowings which come to exceed this amount will be reduced in accordance with applicable law. |
3. | Issue any senior security, except as permitted under the 1940 Act, as interpreted, modified or otherwise permitted by any regulatory authority having jurisdiction, from time to time. |
4. | Make loans, except as permitted under the 1940 Act, as interpreted, modified or otherwise permitted by regulatory authority having jurisdiction, from time to time. |
5. | Purchase or sell real estate unless acquired as a result of ownership of securities or other instruments (but this restriction shall not prevent each Fund from investing in securities of companies engaged in the real estate business or securities or other instruments backed by real estate or mortgages), or commodities or commodity contracts (but this restriction shall not prevent each Fund from trading in futures contracts and options on futures contracts, including options on currencies to the extent consistent with each Fund’s investment objective and policies). |
6. | Engage in the business of underwriting securities issued by other persons, except to the extent that each Fund may technically be deemed to be an underwriter under the 1933 Act, in disposing of portfolio securities. |
1. | Concentrate its investments in a particular industry, as that term is used in the 1940 Act, except that the Fund will concentrate to approximately the same extent that its Underlying Index concentrates in the securities of a particular industry or group of industries. |
2. | Borrow money, except as permitted under the 1940 Act. |
3. | Issue senior securities to the extent such issuance would violate the 1940 Act. |
4. | Purchase or hold real estate, except the Fund may purchase and hold securities or other instruments that are secured by, or linked to, real estate or interests therein, securities of real estate investment trusts, mortgage-related securities and securities of issuers engaged in the real estate business, and the Fund may purchase and hold real estate as a result of the ownership of securities or other instruments. |
5. | Underwrite securities issued by others, except to the extent that the sale of portfolio securities by the Fund may be deemed to be an underwriting or as otherwise permitted by applicable law. |
6. | Purchase or sell commodities or commodity contracts, except as permitted by the 1940 Act. |
7. | Make loans to the extent prohibited by the 1940 Act. |
Name (Age) | Position |
Principal
Occupation(s)
During the Past 5 Years |
Other
Directorships
Held by Trustee |
|||
Robert
S. Kapito1
(63) |
Trustee
(since 2009). |
President, BlackRock, Inc. (since 2006); Vice Chairman of BlackRock, Inc. and Head of BlackRock’s Portfolio Management Group (since its formation in 1998) and BlackRock, Inc.’s predecessor entities (since 1988); Trustee, University of Pennsylvania (since 2009); President of Board of Directors, Hope & Heroes Children’s Cancer Fund (since 2002). | Director of BlackRock, Inc. (since 2006); Director of iShares, Inc. (since 2009); Trustee of iShares U.S. ETF Trust (since 2011). | |||
Salim
Ramji2
(50) |
Trustee (since 2019). | Senior Managing Director, BlackRock, Inc. (since 2014); Global Head of BlackRock’s ETF and Index Investments Business (since 2019); Head of BlackRock’s U.S. Wealth Advisory Business (2015-2019); Global Head of Corporate Strategy, BlackRock, Inc. (2014-2015); Senior Partner, McKinsey & Company (2010-2014). | Director of iShares, Inc. (since 2019); Trustee of iShares U.S. ETF Trust (since 2019). |
1 | Robert S. Kapito is deemed to be an “interested person” (as defined in the 1940 Act) of the Trust due to his affiliations with BlackRock, Inc. and its affiliates. |
2 | Salim Ramji is deemed to be an “interested person” (as defined in the 1940 Act) of the Trust due to his affiliations with BlackRock, Inc. and its affiliates. |
Name (Age) | Position |
Principal
Occupation(s)
During the Past 5 Years |
Other
Directorships
Held by Trustee |
|||
Cecilia
H. Herbert
(71) |
Trustee
(since 2005); Independent Board Chair (since 2016). |
Chair
of the Finance Committee (since 2019) and Trustee and Member of the Finance, Audit and Quality Committees of Stanford Health Care (since 2016); Trustee of WNET, New York's public media company (since 2011) and Member of the Audit Committee (since
2018) and Investment Committee (since 2011); Chair (1994-2005) and Member (since 1992) of the Investment Committee, Archdiocese of San Francisco; Trustee of Forward Funds (14 portfolios) (2009-2018); Trustee of Salient MF Trust (4 portfolios)
(2015-2018); Director (1998-2013) and President (2007-2011) of the Board of Directors, Catholic Charities CYO; Trustee (2002-2011) and Chair of the Finance and Investment Committee (2006-2010) of the Thacher
School.
|
Director of iShares, Inc. (since 2005); Trustee of iShares U.S. ETF Trust (since 2011); Independent Board Chair of iShares, Inc. and iShares U.S. ETF Trust (since 2016); Trustee of Thrivent Church Loan and Income Fund (since 2019). | |||
Jane
D. Carlin
(64) |
Trustee
(since 2015); Risk Committee Chair (since 2016). |
Consultant (since 2012); Member of the Audit Committee (2012-2018), Chair of the Nominating and Governance Committee (2017-2018) and Director of PHH Corporation (mortgage solutions) (2012-2018); Managing Director and Global Head of Financial Holding Company Governance & Assurance and the Global Head of Operational Risk Management of Morgan Stanley (2006-2012). | Director of iShares, Inc. (since 2015); Trustee of iShares U.S. ETF Trust (since 2015); Member of the Audit Committee (since 2016) and Director of The Hanover Insurance Group, Inc. (since 2016). | |||
Richard
L. Fagnani
(65) |
Trustee
(since 2017); Audit Committee Chair (since 2019). |
Partner, KPMG LLP (2002-2016). | Director of iShares, Inc. (since 2017); Trustee of iShares U.S. ETF Trust (since 2017). | |||
John
E. Kerrigan
(65) |
Trustee
(since 2005); Nominating and Governance and Equity Plus Committee Chairs (since 2019). |
Chief Investment Officer, Santa Clara University (since 2002). | Director of iShares, Inc. (since 2005); Trustee of iShares U.S. ETF Trust (since 2011). |
Name (Age) | Position |
Principal
Occupation(s)
During the Past 5 Years |
Other
Directorships
Held by Trustee |
|||
Drew
E. Lawton
(61) |
Trustee
(since 2017); 15(c) Committee Chair (since 2017). |
Senior Managing Director of New York Life Insurance Company (2010-2015). | Director of iShares, Inc. (since 2017); Trustee of iShares U.S. ETF Trust (since 2017). | |||
John
E. Martinez
(59) |
Trustee
(since 2003); Securities Lending Committee Chair (since 2019). |
Director of Real Estate Equity Exchange, Inc. (since 2005); Director of Cloudera Foundation (since 2017); and Director of Reading Partners (2012-2016). | Director of iShares, Inc. (since 2003); Trustee of iShares U.S. ETF Trust (since 2011). | |||
Madhav
V. Rajan
(55) |
Trustee
(since 2011); Fixed Income Plus Committee Chair (since 2019). |
Dean, and George Pratt Shultz Professor of Accounting, University of Chicago Booth School of Business (since 2017); Chair of the Board for the Center for Research in Security Prices, LLC (since 2020); Robert K. Jaedicke Professor of Accounting, Stanford University Graduate School of Business (2001-2017); Professor of Law (by courtesy), Stanford Law School (2005-2017); Senior Associate Dean for Academic Affairs and Head of MBA Program, Stanford University Graduate School of Business (2010-2016). |
Director
of iShares, Inc. (since 2011);
Trustee of iShares U.S. ETF Trust (since 2011). |
Name (Age) | Position |
Principal
Occupation(s)
During the Past 5 Years |
||
Armando
Senra
(49) |
President (since 2019). | Managing Director, BlackRock, Inc. (since 2007); Head of U.S., Canada and Latam iShares, BlackRock, Inc. (since 2019); Head of Latin America Region, BlackRock, Inc. (2006-2019); Managing Director, Bank of America Merrill Lynch (1994-2006). | ||
Trent
Walker
(46) |
Treasurer
and Chief Financial Officer
(since 2020). |
Managing Director of BlackRock, Inc. (since September 2019); Executive Vice President of PIMCO (2016-2019); Senior Vice President of PIMCO (2008-2015); Treasurer (2013-2019) and Assistant Treasurer (2007-2017) of PIMCO Funds, PIMCO Variable Insurance Trust, PIMCO ETF Trust, PIMCO Equity Series, PIMCO Equity Series VIT, PIMCO Managed Accounts Trust, 2 PIMCO-sponsored interval funds and 21 PIMCO-sponsored closed-end funds. |
Name (Age) | Position |
Principal
Occupation(s)
During the Past 5 Years |
||
Charles
Park
(52) |
Chief Compliance Officer (since 2006). | Chief Compliance Officer of BlackRock Advisors, LLC and the BlackRock-advised Funds in the Equity-Bond Complex, the Equity-Liquidity Complex and the Closed-End Complex (since 2014); Chief Compliance Officer of BFA (since 2006). | ||
Deepa
Damre
(45) |
Secretary (since 2019). | Managing Director, BlackRock, Inc. (since 2014); Director, BlackRock, Inc. (2009-2013). | ||
Scott
Radell
(51) |
Executive
Vice President
(since 2012). |
Managing Director, BlackRock, Inc. (since 2009); Head of Portfolio Solutions, BlackRock, Inc. (since 2009). | ||
Alan
Mason
(59) |
Executive
Vice President
(since 2016). |
Managing Director, BlackRock, Inc. (since 2009). | ||
Marybeth
Leithead
(57) |
Executive
Vice President
(since 2019). |
Managing Director, BlackRock, Inc. (since 2017); Chief Operating Officer of Americas iShares (since 2017); Portfolio Manager, Municipal Institutional & Wealth Management (2009-2016). |
Name | Fund |
Dollar
Range of Equity
Securities in Named Fund |
Aggregate
Dollar Range
of Equity Securities in all Registered Investment Companies Overseen by Trustee in Family of Investment Companies |
|||
Robert S. Kapito | None | None | None | |||
Salim Ramji | iShares Commodities Select Strategy ETF | $10,001-$50,000 | Over $100,000 | |||
iShares Core MSCI Emerging Markets ETF | Over $100,000 | |||||
iShares Core MSCI Total International Stock ETF | $1-$10,000 | |||||
iShares Core S&P 500 ETF | $1-$10,000 | |||||
iShares Core S&P Total U.S. Stock Market ETF | $1-$10,000 | |||||
iShares Expanded Tech Sector ETF | $1-$10,000 | |||||
iShares Expanded Tech-Software Sector ETF | $1-$10,000 | |||||
iShares MSCI USA ESG Select ETF | $1-$10,000 | |||||
iShares North American Natural Resources ETF | $10,001-$50,000 | |||||
iShares Robotics and Artificial Intelligence Multisector ETF | $1-$10,000 | |||||
iShares TIPS Bond ETF | $10,001-$50,000 | |||||
Cecilia H. Herbert | iShares California Muni Bond ETF | Over $100,000 | Over $100,000 | |||
iShares China Large-Cap ETF | $50,001-$100,000 | |||||
iShares Core Dividend Growth ETF | $50,001-$100,000 | |||||
iShares Core MSCI Emerging Markets ETF | $1-$10,000 | |||||
iShares Core MSCI Total International Stock ETF | $10,001-$50,000 | |||||
iShares Core S&P 500 ETF | Over $100,000 | |||||
iShares Core S&P U.S. Growth ETF | $50,001-$100,000 | |||||
iShares Core S&P U.S. Value ETF | $50,001-$100,000 | |||||
iShares iBoxx $ High Yield Corporate Bond ETF | $10,001-$50,000 | |||||
iShares International Select Dividend ETF | $1-$10,000 | |||||
iShares MSCI EAFE ETF | $1-$10,000 |
Name | Fund |
Dollar
Range of Equity
Securities in Named Fund |
Aggregate
Dollar Range
of Equity Securities in all Registered Investment Companies Overseen by Trustee in Family of Investment Companies |
|||
iShares MSCI Japan ETF | $10,001-$50,000 | |||||
iShares National Muni Bond ETF | $10,001-$50,000 | |||||
iShares Preferred and Income Securities ETF | $10,001-$50,000 | |||||
Jane D. Carlin | iShares 1-3 Year Treasury Bond ETF | $50,001-$100,000 | Over $100,000 | |||
iShares Core MSCI Emerging Markets ETF | $10,001-$50,000 | |||||
iShares Core MSCI Total International Stock ETF | Over $100,000 | |||||
iShares Core S&P Mid-Cap ETF | $10,001-$50,000 | |||||
iShares Core S&P Small-Cap ETF | Over $100,000 | |||||
iShares Core U.S. Aggregate Bond ETF | Over $100,000 | |||||
iShares Edge MSCI Min Vol USA ETF | $50,001-$100,000 | |||||
iShares Global Tech ETF | $10,001-$50,000 | |||||
iShares MSCI ACWI ETF | Over $100,000 | |||||
iShares MSCI ACWI ex U.S. ETF | $50,001-$100,000 | |||||
iShares MSCI EAFE Small-Cap ETF | $10,001-$50,000 | |||||
iShares MSCI Emerging Markets Small-Cap ETF | $10,001-$50,000 | |||||
iShares Select Dividend ETF | $10,001-$50,000 | |||||
iShares Ultra Short-Term Bond ETF | Over $100,000 | |||||
Richard L. Fagnani | iShares Core MSCI EAFE ETF | $10,001-$50,000 | Over $100,000 | |||
iShares Core S&P 500 ETF | $10,001-$50,000 | |||||
iShares Core S&P Small-Cap ETF | $10,001-$50,000 | |||||
iShares Edge MSCI Multifactor Emerging Markets ETF | $10,001-$50,000 | |||||
iShares Edge MSCI USA Value Factor ETF | $10,001-$50,000 | |||||
iShares Exponential Technologies ETF | $10,001-$50,000 | |||||
iShares Global Clean Energy ETF | $10,001-$50,000 | |||||
iShares MSCI EAFE Value ETF | $10,001-$50,000 | |||||
iShares MSCI Emerging Markets Small-Cap ETF | $10,001-$50,000 | |||||
iShares Robotics and Artificial Intelligence Multisector ETF | $10,001-$50,000 | |||||
iShares S&P Small-Cap 600 Value ETF | $10,001-$50,000 | |||||
iShares Select Dividend ETF | $10,001-$50,000 | |||||
iShares U.S. Financials ETF | $10,001-$50,000 | |||||
John E. Kerrigan | iShares MSCI ACWI ex U.S. ETF | Over $100,000 | Over $100,000 | |||
Name | Fund |
Dollar
Range of Equity
Securities in Named Fund |
Aggregate
Dollar Range
of Equity Securities in all Registered Investment Companies Overseen by Trustee in Family of Investment Companies |
|||
Drew E. Lawton | iShares 0-5 Year High Yield Corporate Bond ETF | Over $100,000 | Over $100,000 | |||
iShares Core Dividend Growth ETF | $50,001-$100,000 | |||||
iShares Core MSCI Total International Stock ETF | $50,001-$100,000 | |||||
iShares Core S&P Total U.S. Stock Market ETF | Over $100,000 | |||||
iShares Exponential Technologies ETF | Over $100,000 | |||||
iShares MSCI Frontier 100 ETF | $1-$10,000 | |||||
iShares Nasdaq Biotechnology ETF | $50,001-$100,000 | |||||
iShares Short Maturity Bond ETF | Over $100,000 | |||||
iShares Ultra Short-Term Bond ETF | Over $100,000 | |||||
John E. Martinez | iShares Core 5-10 Year USD Bond ETF | Over $100,000 | Over $100,000 | |||
iShares Core International Aggregate Bond ETF | Over $100,000 | |||||
iShares Global Consumer Staples ETF | Over $100,000 | |||||
iShares Interest Rate Hedged Long-Term Corporate Bond ETF | Over $100,000 | |||||
iShares Intermediate-Term Corporate Bond ETF | Over $100,000 | |||||
iShares MSCI EAFE ETF | Over $100,000 | |||||
iShares Russell 1000 ETF | Over $100,000 | |||||
iShares Russell 1000 Value ETF | Over $100,000 | |||||
iShares Russell 2000 ETF | Over $100,000 | |||||
Madhav V. Rajan | iShares Broad USD High Yield Corporate Bond ETF | Over $100,000 | Over $100,000 | |||
iShares Core Dividend Growth ETF | Over $100,000 | |||||
iShares Core High Dividend ETF | Over $100,000 | |||||
iShares Core MSCI EAFE ETF | Over $100,000 | |||||
iShares Core S&P 500 ETF | Over $100,000 | |||||
iShares Mortgage Real Estate ETF | Over $100,000 | |||||
iShares Preferred and Income Securities ETF | Over $100,000 | |||||
iShares Russell 2000 ETF | Over $100,000 | |||||
iShares Select Dividend ETF | Over $100,000 | |||||
iShares Short-Term Corporate Bond ETF | Over $100,000 | |||||
iShares Short Maturity Bond ETF | Over $100,000 | |||||
iShares Ultra Short-Term Bond ETF | Over $100,000 |
Name |
iShares
Asia 50 ETF |
iShares
Emerging Markets Infrastructure ETF |
iShares
Global Healthcare ETF |
|||
Independent Trustees: | ||||||
Jane D. Carlin | $ 271 | $5 | $477 | |||
Richard L. Fagnani | 294 | 5 | 519 | |||
Cecilia H. Herbert | 315 | 5 | 556 | |||
John E. Kerrigan | 294 | 5 | 519 | |||
Drew E. Lawton | 284 | 5 | 500 | |||
John E. Martinez | 277 | 5 | 489 | |||
Madhav V. Rajan | 277 | 5 | 489 | |||
Interested Trustees: | ||||||
Robert S. Kapito | $ 0 | $0 | $0 | |||
Salim Ramji1 | 0 | 0 | 0 | |||
Mark K. Wiedman2 | 0 | 0 | 0 |
Name |
iShares
Global Materials ETF |
iShares
Global Tech ETF |
iShares
Global Timber & Forestry ETF |
|||
Independent Trustees: | ||||||
Jane D. Carlin | $ 47 | $ 795 | $63 | |||
Richard L. Fagnani | 51 | 863 | 68 | |||
Cecilia H. Herbert | 54 | 926 | 73 | |||
John E. Kerrigan | 51 | 865 | 68 | |||
Drew E. Lawton | 49 | 833 | 66 | |||
John E. Martinez | 48 | 814 | 64 | |||
Madhav V. Rajan | 48 | 814 | 64 | |||
Interested Trustees: | ||||||
Robert S. Kapito | $ 0 | $ 0 | $0 | |||
Salim Ramji1 | 0 | 0 | 0 | |||
Mark K. Wiedman2 | 0 | 0 | 0 |
Name |
iShares
India 50 ETF |
iShares
International Dividend Growth ETF |
iShares
Latin America 40 ETF |
|||
Independent Trustees: | ||||||
Jane D. Carlin | $1,227 | $29 | $289 | |||
Richard L. Fagnani | 171 | 31 | 314 | |||
Cecilia H. Herbert | 183 | 34 | 336 | |||
John E. Kerrigan | 171 | 31 | 314 | |||
Drew E. Lawton | 165 | 30 | 303 | |||
John E. Martinez | 161 | 30 | 296 | |||
Madhav V. Rajan | 161 | 30 | 296 | |||
Interested Trustees: | ||||||
Robert S. Kapito | $ 0 | $ 0 | $0 | |||
Salim Ramji1 | 0 | 0 | 0 | |||
Mark K. Wiedman2 | 0 | 0 | 0 |
Name |
Pension
or
Retirement Benefits Accrued As Part of Trust Expenses3 |
Estimated
Annual
Benefits Upon Retirement3 |
Total
Compensation From the Funds and Fund Complex4 |
|||
Independent Trustees: | ||||||
Jane D. Carlin | Not Applicable | Not Applicable | 395,000 | |||
Richard L. Fagnani | Not Applicable | Not Applicable | 421,764 | |||
Cecilia H. Herbert | Not Applicable | Not Applicable | 450,000 | |||
John E. Kerrigan | Not Applicable | Not Applicable | 420,000 | |||
Drew E. Lawton | Not Applicable | Not Applicable | 406,764 | |||
John E. Martinez | Not Applicable | Not Applicable | 395,000 | |||
Madhav V. Rajan | Not Applicable | Not Applicable | 395,000 |
Interested Trustees: | |||
Robert S. Kapito | Not Applicable | Not Applicable | $0 |
Salim Ramji1 | Not Applicable | Not Applicable | 0 |
Mark K. Wiedman2 | Not Applicable | Not Applicable | 0 |
1 | Appointed to serve as an Interested Trustee effective June 19, 2019. |
2 | Served as an Interested Trustee through June 19, 2019. |
3 | No Trustee or officer is entitled to any pension or retirement benefits from the Trust. |
4 | Also includes compensation for service on the Board of Trustees of iShares U.S. ETF Trust and the Board of Directors of iShares, Inc. |
Fund | Name |
Percentage
of Ownership |
||
iShares Asia 50 ETF |
Citibank,
N.A.
3800 CitiBank Center Tampa Building B/1st Floor Zone 8 Tampa, FL 33610-9122 |
35.96% | ||
JPMorgan
Chase Bank, National Association
500 Stanton Christiana Road Newark, DE 19713 |
33.06% | |||
Charles
Schwab & Co., Inc.
101 Montgomery Street San Francisco, CA 94014 |
9.49% | |||
National
Financial Services LLC
499 Washington Blvd Jersey City, NJ 07310 |
5.09% | |||
iShares Emerging Markets Infrastructure ETF |
Citibank,
N.A.
3800 CitiBank Center Tampa Building B/1st Floor Zone 8 Tampa, FL 33610-9122 |
15.64% | ||
National
Financial Services LLC
499 Washington Blvd Jersey City, NJ 07310 |
14.08% | |||
Charles
Schwab & Co., Inc.
101 Montgomery Street San Francisco, CA 94014 |
13.70% | |||
TD
Ameritrade Clearing, Inc.
4700 Alliance Gateway Freeway Fort Worth, TX 76177 |
10.32% | |||
Merrill
Lynch, Pierce, Fenner & Smith Incorporated - TS Sub
101 Hudson Street 9th Floor Jersey City, NJ 07302-3997 |
5.03% | |||
iShares Global Healthcare ETF |
JPMorgan
Chase Bank, National Association
500 Stanton Christiana Road Newark, DE 19713 |
25.89% | ||
BlackRock
Institutional Trust Company, N.A.
400 Howard Street San Francisco, CA 94105 |
12.28% | |||
The
Bank of New York Mellon
111 Sanders Creek Parkway 2nd Floor East Syracuse, NY 13057 |
7.42% | |||
Citibank,
N.A.
3800 CitiBank Center Tampa Building B/1st Floor Zone 8 Tampa, FL 33610-9122 |
7.16% | |||
Charles
Schwab & Co., Inc.
101 Montgomery Street San Francisco, CA 94014 |
6.40% |
Fund | Name |
Percentage
of Ownership |
||
National
Financial Services LLC
499 Washington Blvd Jersey City, NJ 07310 |
5.07% | |||
iShares Global Materials ETF |
Merrill
Lynch, Pierce, Fenner & Smith Incorporated - TS Sub
101 Hudson Street 9th Floor Jersey City, NJ 07302-3997 |
37.41% | ||
UBS
Financial Services Inc.
1000 Harbor Blvd. Weehawken, NJ 07086 |
12.27% | |||
Morgan
Stanley Smith Barney LLC
One New York Plaza New York, NY 10004 |
10.50% | |||
National
Financial Services LLC
499 Washington Blvd Jersey City, NJ 07310 |
9.03% | |||
Charles
Schwab & Co., Inc.
101 Montgomery Street San Francisco, CA 94014 |
7.69% | |||
iShares Global Tech ETF |
National
Financial Services LLC
499 Washington Blvd Jersey City, NJ 07310 |
23.96% | ||
Charles
Schwab & Co., Inc.
101 Montgomery Street San Francisco, CA 94014 |
8.73% | |||
Pershing
LLC
One Pershing Plaza Jersey City, NJ 07399 |
7.23% | |||
TD
Ameritrade Clearing, Inc.
4700 Alliance Gateway Freeway Fort Worth, TX 76177 |
6.16% | |||
Citibank,
N.A.
3800 CitiBank Center Tampa Building B/1st Floor Zone 8 Tampa, FL 33610-9122 |
5.05% | |||
iShares Global Timber & Forestry ETF |
Charles
Schwab & Co., Inc.
101 Montgomery Street San Francisco, CA 94014 |
17.31% | ||
National
Financial Services LLC
499 Washington Blvd Jersey City, NJ 07310 |
15.30% | |||
JPMorgan
Chase Bank, National Association
500 Stanton Christiana Road Newark, DE 19713 |
15.15% | |||
State
Street Bank and Trust Company
1776 Heritage Drive North Quincy, MA 02171 |
8.38% |
Fund | Name |
Percentage
of Ownership |
||
TD
Ameritrade Clearing, Inc.
4700 Alliance Gateway Freeway Fort Worth, TX 76177 |
6.43% | |||
BlackRock
Institutional Trust Company, N.A.
400 Howard Street San Francisco, CA 94105 |
5.26% | |||
iShares India 50 ETF |
State
Street Bank and Trust Company
1776 Heritage Drive North Quincy, MA 02171 |
30.68% | ||
Citibank,
N.A.
3800 CitiBank Center Tampa Building B/1st Floor Zone 8 Tampa, FL 33610-9122 |
8.05% | |||
BlackRock
Institutional Trust Company, N.A.
400 Howard Street San Francisco, CA 94105 |
7.84% | |||
JPMorgan
Chase Bank, National Association
500 Stanton Christiana Road Newark, DE 19713 |
7.55% | |||
The
Bank of New York Mellon
111 Sanders Creek Parkway 2nd Floor East Syracuse, NY 13057 |
7.22% | |||
National
Financial Services LLC
499 Washington Blvd Jersey City, NJ 07310 |
6.69% | |||
Brown
Brothers Harriman & Co.
525 Washington Blvd. 11th Floor Jersey City, NJ 07310 |
5.55% | |||
iShares International Dividend Growth ETF |
National
Financial Services LLC
499 Washington Blvd Jersey City, NJ 07310 |
26.11% | ||
Merrill
Lynch, Pierce, Fenner & Smith Incorporated - TS Sub
101 Hudson Street 9th Floor Jersey City, NJ 07302-3997 |
13.41% | |||
Charles
Schwab & Co., Inc.
101 Montgomery Street San Francisco, CA 94014 |
13.01% | |||
TD
Ameritrade Clearing, Inc.
4700 Alliance Gateway Freeway Fort Worth, TX 76177 |
7.32% | |||
J.P.
Morgan Securities, LLC/JPMC
500 Stanton Christiana Road Newark, DE 19713 |
5.83% |
Fund | Name |
Percentage
of Ownership |
||
U.S.
Bank N.A.
1555 North Rivercenter Dr. Suite 302 Milwaukee, WI 53212 |
5.25% | |||
iShares Latin America 40 ETF |
Brown
Brothers Harriman & Co.
525 Washington Blvd. 11th Floor Jersey City, NJ 07310 |
29.90% | ||
Citibank,
N.A.
3800 CitiBank Center Tampa Building B/1st Floor Zone 8 Tampa, FL 33610-9122 |
11.69% | |||
TD
Ameritrade Clearing, Inc.
4700 Alliance Gateway Freeway Fort Worth, TX 76177 |
10.89% | |||
State
Street Bank and Trust Company
1776 Heritage Drive North Quincy, MA 02171 |
8.54% | |||
National
Financial Services LLC
499 Washington Blvd Jersey City, NJ 07310 |
5.60% |
Fund |
Management
Fee for the Fiscal Year Ended March 31, 2020 |
Fund
Inception Date |
Management
Fees Paid Net of Waivers for Fiscal Year Ended March 31, 2020 |
Management
Fees Paid Net of Waivers for Fiscal Year Ended March 31, 2019 |
Management
Fees Paid Net of Waivers for Fiscal Year Ended March 31, 2018 |
|||||
iShares Asia 50 ETF | 0.50% | 11/13/07 | $ 5,512,376 | $ 5,047,562 | $ 2,881,788 | |||||
iShares Emerging Markets Infrastructure ETF1, 2 | 0.60% | 06/16/09 | 176,784 | 249,915 | 350,025 | |||||
iShares Global Healthcare ETF | 0.46% | 11/13/01 | 9,388,488 | 8,083,844 | 7,430,733 | |||||
iShares Global Materials ETF | 0.45% | 09/12/06 | 1,069,390 | 1,347,050 | 1,463,374 | |||||
iShares Global Tech ETF | 0.46% | 11/12/01 | 13,148,855 | 10,509,153 | 6,337,894 | |||||
iShares Global Timber & Forestry ETF | 0.46% | 06/24/08 | 1,064,093 | 1,900,127 | 1,508,460 | |||||
iShares India 50 ETF | 0.89% | 11/18/09 | 6,955,615 | 7,308,380 | 9,751,530 | |||||
iShares International Dividend Growth ETF | 0.22% | 05/17/16 | 175,007 | 138,032 | 90,540 | |||||
iShares Latin America 40 ETF | 0.48% | 10/25/01 | 7,302,827 | 6,395,659 | 6,508,945 |
Rachel Aguirre | ||||
Types of Accounts | Number | Total Assets | ||
Registered Investment Companies | 310 | $1,050,545,000,000 | ||
Other Pooled Investment Vehicles | 150 | 512,873,000,000 | ||
Other Accounts | 123 | 440,978,000,000 |
Jennifer Hsui | ||||
Types of Accounts | Number | Total Assets | ||
Registered Investment Companies | 290 | $1,023,095,000,000 | ||
Other Pooled Investment Vehicles | 58 | 60,271,000,000 | ||
Other Accounts | 32 | 20,303,000,000 |
Alan Mason | ||||
Types of Accounts | Number | Total Assets | ||
Registered Investment Companies | 326 | $1,054,808,000,000 | ||
Other Pooled Investment Vehicles | 0 | N/A | ||
Other Accounts | 2 | 636,000,000 |
Greg Savage | ||||
Types of Accounts | Number | Total Assets | ||
Registered Investment Companies | 309 | $1,027,963,000,000 | ||
Other Pooled Investment Vehicles | 30 | 1,398,000,000 | ||
Other Accounts | 61 | 4,888,000,000 |
Amy Whitelaw | ||||
Types of Accounts | Number | Total Assets | ||
Registered Investment Companies | 283 | $988,638,000,000 | ||
Other Pooled Investment Vehicles | 86 | 26,327,000,000 | ||
Other Accounts | 3 | 89,000,000 |
Rachel Aguirre | ||||
Types of Accounts |
Number
of Other
Accounts with Performance Fees Managed by Portfolio Manager |
Aggregate
of Total Assets |
||
Registered Investment Companies | 0 | N/A | ||
Other Pooled Investment Vehicles | 0 | N/A | ||
Other Accounts | 0 | N/A |
Jennifer Hsui | ||||
Types of Accounts |
Number
of Other
Accounts with Performance Fees Managed by Portfolio Manager |
Aggregate
of Total Assets |
||
Registered Investment Companies | 0 | N/A | ||
Other Pooled Investment Vehicles | 0 | N/A | ||
Other Accounts | 0 | N/A |
Alan Mason | ||||
Types of Accounts |
Number
of Other
Accounts with Performance Fees Managed by Portfolio Manager |
Aggregate
of Total Assets |
||
Registered Investment Companies | 0 | N/A | ||
Other Pooled Investment Vehicles | 0 | N/A | ||
Other Accounts | 0 | N/A |
Greg Savage | ||||
Types of Accounts |
Number
of Other
Accounts with Performance Fees Managed by Portfolio Manager |
Aggregate
of Total Assets |
||
Registered Investment Companies | 0 | N/A | ||
Other Pooled Investment Vehicles | 0 | N/A | ||
Other Accounts | 0 | N/A |
Amy Whitelaw | ||||
Types of Accounts |
Number
of Other
Accounts with Performance Fees Managed by Portfolio Manager |
Aggregate
of Total Assets |
||
Registered Investment Companies | 0 | N/A | ||
Other Pooled Investment Vehicles | 0 | N/A | ||
Other Accounts | 0 | N/A |
Fund |
Fund
Inception Date |
Administration,
Custodian, Transfer Agency Expenses Paid During Fiscal Year Ended March 31, 2020 |
Administration,
Custodian, Transfer Agency Expenses Paid During Fiscal Year Ended March 31, 2019 |
Administration,
Custodian, Transfer Agency Expenses Paid During Fiscal Year Ended March 31, 2018 |
||||
iShares Asia 50 ETF | 11/13/07 | $ 146,136 | $ 144,077 | $ 86,373 | ||||
iShares Emerging Markets Infrastructure ETF | 06/16/09 | 28,586 | 31,265 | 18,387 | ||||
iShares Global Healthcare ETF | 11/13/01 | 61,812 | 57,543 | 49,122 | ||||
iShares Global Materials ETF | 09/12/06 | 37,610 | 35,909 | 27,763 | ||||
iShares Global Tech ETF | 11/12/01 | 103,097 | 92,574 | 53,281 | ||||
iShares Global Timber & Forestry ETF | 06/24/08 | 31,523 | 37,975 | 20,291 | ||||
iShares India 50 ETF | 11/18/09 | 20,915 | 22,872 | 19,359 | ||||
iShares International Dividend Growth ETF | 05/17/16 | 73,560 | 52,391 | 40,821 | ||||
iShares Latin America 40 ETF | 10/25/01 | 284,817 | 270,886 | 284,309 |
Fund | iShares Asia 50 ETF |
iShares
Emerging Markets
Infrastructure ETF |
iShares
Global
Healthcare ETF |
Gross
income from
securities lending activities |
$442,936 | $ 27,974 | $960,567 |
Fees
and/or compensation
for securities lending activities and related services |
|||
Securities
lending
income paid to BTC for services as securities lending agent |
52,413 | 896 | 128,350 |
Cash
collateral
management expenses not included in securities lending income paid to BTC |
5,515 | 485 | 6,738 |
Administrative
fees not
included in securities lending income paid to BTC |
0 | 0 | 0 |
Indemnification
fees not
included in securities lending income paid to BTC |
0 | 0 | 0 |
Rebates
(paid to
borrowers) |
146,241 | 22,502 | 240,776 |
Fund | iShares Asia 50 ETF |
iShares
Emerging Markets
Infrastructure ETF |
iShares
Global
Healthcare ETF |
Other
fees not
included in securities lending income paid to BTC |
0 | 0 | 0 |
Aggregate
fees/compensation for securities lending activities |
$ 204,169 | $23,883 | $ 375,864 |
Net
income from securities
lending activities |
$238,767 | $ 4,091 | $584,703 |
Fund | iShares Global Materials ETF | iShares Global Tech ETF |
iShares
Global
Timber & Forestry ETF |
Gross
income from
securities lending activities |
$ 48,801 | $ 639,832 | $ 4,431 |
Fees
and/or compensation
for securities lending activities and related services |
|||
Securities
lending
income paid to BTC for services as securities lending agent |
4,430 | 45,654 | 525 |
Cash
collateral
management expenses not included in securities lending income paid to BTC |
334 | 11,508 | 82 |
Administrative
fees not
included in securities lending income paid to BTC |
0 | 0 | 0 |
Indemnification
fees not
included in securities lending income paid to BTC |
0 | 0 | 0 |
Rebates
(paid to
borrowers) |
21,033 | 443,890 | 1,435 |
Other
fees not
included in securities lending income paid to BTC |
0 | 0 | 0 |
Aggregate
fees/compensation for securities lending activities |
$ 25,797 | $ 501,052 | $ 2,042 |
Net
income from securities
lending activities |
$23,004 | $ 138,780 | $2,389 |
Fund | iShares India 50 ETF |
iShares
International
Dividend Growth ETF |
iShares
Latin
America 40 ETF |
Gross
income from
securities lending activities |
$10,196 | $5,050 | $2,323,254 |
Fees
and/or compensation
for securities lending activities and related services |
|||
Securities
lending
income paid to BTC for services as securities lending agent |
225 | 435 | 326,139 |
Cash
collateral
management expenses not included in securities lending income paid to BTC |
167 | 69 | 16,024 |
Administrative
fees not
included in securities lending income paid to BTC |
0 | 0 | 0 |
Indemnification
fees not
included in securities lending income paid to BTC |
0 | 0 | 0 |
Rebates
(paid to
borrowers) |
8,775 | 2,472 | 495,287 |
Other
fees not
included in securities lending income paid to BTC |
0 | 0 | 0 |
Aggregate
fees/compensation for securities lending activities |
$ 9,167 | $ 2,976 | $ 837,450 |
Net
income from securities
lending activities |
$ 1,029 | $ 2,074 | $ 1,485,804 |
Fund |
Fund
Inception Date |
Brokerage
Commissions Paid During Fiscal Year Ended March 31, 2020 |
Brokerage
Commissions Paid During Fiscal Year Ended March 31, 2019 |
Brokerage
Commissions Paid During Fiscal Year Ended March 31, 2018 |
||||
iShares Asia 50 ETF | 11/13/07 | $ 66,907 | $ 112,710 | $ 182,781 | ||||
iShares Emerging Markets Infrastructure ETF | 06/16/09 | 4,986 | 8,527 | 8,365 | ||||
iShares Global Healthcare ETF | 11/13/01 | 24,194 | 33,945 | 10,959 | ||||
iShares Global Materials ETF | 09/12/06 | 17,958 | 12,196 | 10,683 | ||||
iShares Global Tech ETF | 11/12/01 | 68,588 | 122,242 | 31,275 | ||||
iShares Global Timber & Forestry ETF | 06/24/08 | 16,102 | 48,370 | 48,017 | ||||
iShares India 50 ETF | 11/18/09 | 259,744 | 340,523 | 230,229 | ||||
iShares International Dividend Growth ETF | 05/17/16 | 14,537 | 11,771 | 8,534 | ||||
iShares Latin America 40 ETF | 10/25/01 | 325,724 | 339,633 | 378,601 |
Fund | Issuer |
Market
Value of
Investment |
||
iShares International Dividend Growth ETF | Bank of Montreal | $941,825 |
Fund | Fiscal Year ended March 31, 2020 | Fiscal Year ended March 31, 2019 | ||
iShares Asia 50 ETF | 6% | 10% | ||
iShares Emerging Markets Infrastructure ETF | 18% | 25% | ||
iShares Global Healthcare ETF | 5% | 8% | ||
iShares Global Materials ETF | 12% | 11% | ||
iShares Global Tech ETF | 7% | 17% | ||
iShares Global Timber & Forestry ETF | 10% | 18% | ||
iShares India 50 ETF | 26% | 24% | ||
iShares International Dividend Growth ETF | 35% | 34% | ||
iShares Latin America 40 ETF | 22% | 20% |
Fund |
Shares
Per
Creation Unit |
Approximate
Value Per Creation Unit (U.S.$) |
||
iShares Asia 50 ETF | 50,000 | $2,972,000 | ||
iShares Emerging Markets Infrastructure ETF | 50,000 | 1,075,000 | ||
iShares Global Healthcare ETF | 50,000 | 3,390,000 | ||
iShares Global Materials ETF | 50,000 | 2,823,000 | ||
iShares Global Tech ETF | 50,000 | 10,331,000 | ||
iShares Global Timber & Forestry ETF | 60,000 | 3,175,800 | ||
iShares India 50 ETF | 50,000 | 1,493,500 | ||
iShares International Dividend Growth ETF | 50,000 | 2,435,000 | ||
iShares Latin America 40 ETF | 250,000 | 4,822,500 |
Fund |
Standard
Creation
Transaction Fee |
Maximum
Additional
Charge for Creations1 |
||
iShares Asia 50 ETF | $2,500 | 7.0% | ||
iShares Emerging Markets Infrastructure ETF | 250 | 7.0% | ||
iShares Global Healthcare ETF | 700 | 3.0% | ||
iShares Global Materials ETF | 1,700 | 3.0% | ||
iShares Global Tech ETF | 1,400 | 7.0% | ||
iShares Global Timber & Forestry ETF | 300 | 3.0% | ||
iShares India 50 ETF | 2,500 | 3.0% | ||
iShares International Dividend Growth ETF | 8,400 | 7.0% | ||
iShares Latin America 40 ETF | 450 | 3.0% |
1 | As a percentage of the net asset value per Creation Unit. |
Fund |
Standard
Redemption
Transaction Fee |
Maximum
Additional
Charge for Redemptions* |
||
iShares Asia 50 ETF | $2,500 | 2.0% | ||
iShares Emerging Markets Infrastructure ETF | 250 | 2.0% | ||
iShares Global Healthcare ETF | 700 | 2.0% | ||
iShares Global Materials ETF | 1,700 | 2.0% | ||
iShares Global Tech ETF | 1,400 | 2.0% | ||
iShares Global Timber & Forestry ETF | 300 | 2.0% | ||
iShares India 50 ETF | 2,500 | 2.0% | ||
iShares International Dividend Growth ETF | 8,400 | 2.0% | ||
iShares Latin America 40 ETF | 450 | 2.0% |
* | As a percentage of the net asset value per Creation Unit, inclusive of the standard redemption transaction fee. |
Fund |
Non-Expiring
Capital Loss
Carryforward |
|
iShares Asia 50 ETF | $ 47,459,131 | |
iShares Emerging Markets Infrastructure ETF | 29,427,622 | |
iShares Global Healthcare ETF | 42,231,768 | |
iShares Global Materials ETF | 76,757,867 | |
iShares Global Tech ETF | 41,676,224 | |
iShares Global Timber & Forestry ETF | 4,917,787 | |
iShares India 50 ETF | 79,418,544 | |
iShares International Dividend Growth ETF | 4,578,095 | |
iShares Latin America 40 ETF | 506,864,858 |
• | As per the DTAA, capital gains resulting from the sale of Indian shares acquired prior to April 1, 2017 will not be subject to tax in India. Capital gains resulting from sale of shares in Indian companies acquired on or after April 1, 2017 and sold anytime on or after April 1, 2019 will be subject to tax in India as per the domestic tax rates (provided below): |
• | Long-term capital gains (being gains on sale of shares held for a period of more than twelve months) arising from sale of equity shares listed on a recognized stock exchange would be taxable in India at rate of 10.92%, provided |
Securities Transaction Tax (“STT”) has been paid, both on acquisition and sale (subject to certain transactions to which the provisions of applicability of payment of STT upon acquisition shall not be applicable) of such shares. Capital gains tax would be calculated on gains exceeding INR 0.1 million (without any indexation and foreign exchange fluctuation benefits); | |
• | Long tax capital gains was introduced with effect from April 1, 2018. However, all capital gains arising up to January 31, 2018 have been grandfathered; |
• | Short-term capital gains (being gains on sale of shares held for a period of twelve months or less) from the sale of Indian shares listed on a recognized stock exchange will be taxed at the rate of 16.38% provided STT has been paid on the same. |
• | 0.1% payable by the buyer and 0.1% by the seller on the value of transactions of delivery based transfer of an equity share in an Indian company entered in a recognized stock exchange; |
• | 0.001% on the value of transactions of delivery based sale of a unit of an equity oriented mutual fund entered in a recognized stock exchange, payable by the seller; |
• | 0.025% on the value of transactions of non-delivery based sale of an equity share in an Indian company or a unit of an equity oriented mutual fund, entered in a recognized stock exchange payable by the seller; |
• | 0.05% on the value of transactions of derivatives being options, entered in a recognized stock exchange. STT is to be paid by the seller; |
• | 0.01% on the value of transactions of sale of derivatives being futures, entered in a recognized stock exchange. STT is to be paid by the seller; |
• | 0.001% on the value of transactions of sale of units of an equity-oriented fund to the Mutual Fund, payable by the seller in accordance with the Finance Act, 2013; |
• | 0.125% on the value of transactions of sale of derivatives being options, where the option is exercised, entered in a recognized stock exchange. STT is to be paid by buyer; |
• | 0.2% on the value of transactions of the sale of unlisted shares by existing shareholders in an initial public offer. |
• | With respect to a foreign entity that holds the Indian assets directly, if the transferor of share or interest in such a foreign entity (along with its associated enterprises), at any time in the twelve months preceding the year of transfer |
neither holds the right of control or management in the foreign entity, nor holds voting power or share capital or interest exceeding 5% of the total voting power or total share capital or total interest in such foreign entity. | |
• | With respect to a foreign entity that holds the Indian assets indirectly, if the transferor of share or interest in such foreign entity (along with its associated enterprises), at any time in the twelve months preceding the year of transfer does not hold the right of control or management in relation to the foreign entity, which would entitle them to the right of control or management in the foreign entity which directly holds the Indian assets; or does not hold voting power or share capital or interest exceeding 5% of the total voting power or total share capital or total interest in the foreign entity, which results in holding the same share capital or voting power in the entity which directly holds the Indian assets. |
• | any arrangement where the aggregate tax benefit to all the parties of the arrangement in the relevant financial year does not exceed INR 30 Million; |
• | FIIs that choose not to take any benefit under any tax treaty entered with India and have invested in listed or unlisted securities with prior permission of the competent authority in accordance with the applicable regulations; |
• | non-resident investor in an FII who has invested in an FII, directly or indirectly, by way of an offshore derivative instrument or otherwise; or |
• | any income derived from the transfer of shares or interests made prior to April 1, 2017. |
• | Boards and directors |
• | Auditors and audit-related issues |
• | Capital structure, mergers, asset sales and other special transactions |
• | Compensation and benefits |
• | Environmental and social issues |
• | General corporate governance matters and shareholder protections |
• | establishing an appropriate corporate governance structure |
• | supporting and overseeing management in setting long -term strategic goals, applicable measures of value-creation and milestones that will demonstrate progress, and steps taken if any obstacles are anticipated or incurred |
• | ensuring the integrity of financial statements |
• | making independent decisions regarding mergers, acquisitions and disposals |
• | establishing appropriate executive compensation structures |
• | addressing business issues, including environmental and social issues, when they have the potential to materially impact company reputation and performance |
• | current or former employment at the company or a subsidiary within the past several years |
• | being, or representing, a shareholder with a substantial shareholding in the company |
• | interlocking directorships |
• | having any other interest, business or other relationship which could, or could reasonably be perceived to, materially interfere with the director’s ability to act in the best interests of the company |
1) | publish a disclosure in line with industry-specific SASB guidelines by year-end, if they have not already done so, or disclose a similar set of data in a way that is relevant to their particular business; and |
2) | disclose climate-related risks in line with the TCFD’s recommendations, if they have not already done so. This should include the company’s plan for operating under a scenario where the Paris Agreement’s goal of limiting global warming to less than two degrees is fully realized, as expressed by the TCFD guidelines. |
• | The company has already taken sufficient steps to address the concern |
• | The company is in the process of actively implementing a response |
• | There is a clear and material economic disadvantage to the company in the near-term if the issue is not addressed in the manner requested by the shareholder proposal |
• | BlackRock clients who may be issuers of securities or proponents of shareholder resolutions |
• | BlackRock business partners or third parties who may be issuers of securities or proponents of shareholder resolutions |
• | BlackRock employees who may sit on the boards of public companies held in Funds managed by BlackRock |
• | Significant BlackRock, Inc. investors who may be issuers of securities held in Funds managed by BlackRock |
• | Securities of BlackRock, Inc. or BlackRock investment funds held in Funds managed by BlackRock |
• | BlackRock, Inc. board members who serve as senior executives of public companies held in Funds managed by BlackRock |
• | Adopted the Guidelines which are designed to protect and enhance the economic value of the companies in which BlackRock invests on behalf of clients. |
• | Established a reporting structure that separates BIS from employees with sales, vendor management or business partnership roles. In addition, BlackRock seeks to ensure that all engagements with corporate issuers, dissident shareholders or shareholder proponents are managed consistently and without regard to BlackRock’s relationship with such parties. Clients or business partners are not given special treatment or differentiated access to BIS. BIS prioritizes engagements based on factors including but not limited to our need for additional information to make a voting decision or our view on the likelihood that an engagement could lead to positive outcome(s) over time for the economic value of the company. Within the normal course of business, BIS may engage directly with BlackRock clients, business partners and/or third parties, and/or with employees with sales, vendor management or business partnership roles, in discussions regarding our approach to stewardship, general corporate governance matters, client reporting needs, and/or to otherwise ensure that proxy-related client service levels are met. |
• | Determined to engage, in certain instances, an independent fiduciary to vote proxies as a further safeguard to avoid potential conflicts of interest, to satisfy regulatory compliance requirements, or as may be otherwise required by applicable law. In such circumstances, the independent fiduciary provides BlackRock’s proxy voting agent with instructions, in accordance with the Guidelines, as to how to vote such proxies, and BlackRock’s proxy voting agent votes the proxy in accordance with the independent fiduciary’s determination. BlackRock uses an independent fiduciary to vote proxies of (i) any company that is affiliated with BlackRock, Inc., (ii) any public company that includes BlackRock employees on its board of directors, (iii) The PNC Financial Services Group, Inc., (iv) any public company of which a BlackRock, Inc. board member serves as a senior executive, and (v) companies when legal or regulatory requirements compel BlackRock to use an independent fiduciary. In selecting an independent fiduciary, we assess several characteristics, including but not limited to: independence, an ability to analyze proxy issues and vote in the best economic interest of our clients, reputation for reliability and integrity, and operational capacity to accurately deliver the assigned votes in a timely manner. We may engage more than one independent fiduciary, in part in order to mitigate potential or perceived conflicts of interest at an independent fiduciary. The Global Committee appoints and reviews the performance of the independent fiduciar(ies), generally on an annual basis. |
Contents | |
Introduction | A-16 |
Voting guidelines | A-16 |
Boards and directors | A-16 |
- Director elections | A-16 |
- Independence | A-16 |
- Oversight | A-17 |
- Responsiveness to shareholders | A-17 |
- Shareholder rights | A-17 |
- Board composition and effectiveness | A-18 |
- Board size | A-19 |
- CEO and management succession planning | A-19 |
- Classified board of directors / staggered terms | A-19 |
- Contested director elections | A-19 |
- Cumulative voting | A-19 |
- Director compensation and equity programs | A-19 |
- Majority vote requirements | A-19 |
- Risk oversight | A-20 |
- Separation of chairman and CEO | A-20 |
Auditors and audit-related issues | A-20 |
Capital structure proposals | A-21 |
- Equal voting rights | A-21 |
- Blank check preferred stock | A-21 |
- Increase in authorized common shares | A-21 |
- Increase or issuance of preferred stock | A-21 |
- Stock splits | A-22 |
Mergers, asset sales, and other special transactions | A-22 |
- Poison pill plans | A-22 |
- Reimbursement of expenses for successful shareholder campaigns | A-22 |
Executive Compensation | A-22 |
- Advisory resolutions on executive compensation (“Say on Pay”) | A-23 |
- Advisory votes on the frequency of Say on Pay resolutions | A-23 |
- Claw back proposals | A-23 |
- Employee stock purchase plans | A-23 |
- Equity compensation plans | A-23 |
- Golden parachutes | A-23 |
- Option exchanges | A-24 |
- Pay-for-Performance plans | A-24 |
- Supplemental executive retirement plans | A-24 |
Environmental and social issues | A-24 |
- Climate risk | A-25 |
- Corporate political activities | A-26 |
General corporate governance matters | A-26 |
- Adjourn meeting to solicit additional votes | A-26 |
- Bundled proposals | A-26 |
- Exclusive forum provisions | A-26 |
- Multi-jurisdictional companies | A-26 |
- Other business | A-27 |
- Reincorporation | A-27 |
- IPO governance | A-27 |
Contents | |
Shareholder Protections | A-27 |
- Amendment to charter / articles / bylaws | A-27 |
- Proxy access | A-28 |
- Right to act by written consent | A-28 |
- Right to call a special meeting | A-28 |
- Simple majority voting | A-28 |
• | Boards and directors |
• | Auditors and audit-related issues |
• | Capital structure |
• | Mergers, asset sales, and other special transactions |
• | Executive compensation |
• | Environmental and social issues |
• | General corporate governance matters |
• | Shareholder protections |
• | Employment as a senior executive by the company or a subsidiary within the past five years |
• | An equity ownership in the company in excess of 20% |
• | Having any other interest, business, or relationship which could, or could reasonably be perceived to, materially interfere with the director’s ability to act in the best interests of the company |
• | Where the board has failed to exercise oversight with regard to accounting practices or audit oversight, we will consider voting against the current audit committee, and any other members of the board who may be responsible. For example, this may apply to members of the audit committee during a period when the board failed to facilitate quality, independent auditing if substantial accounting irregularities suggest insufficient oversight by that committee |
• | Members of the compensation committee during a period in which executive compensation appears excessive relative to performance and peers, and where we believe the compensation committee has not already substantially addressed this issue |
• | The chair of the nominating / governance committee, or where no chair exists, the nominating / governance committee member with the longest tenure, where the board is not comprised of a majority of independent directors. However, this would not apply in the case of a controlled company |
• | Where it appears the director has acted (at the company or at other companies) in a manner that compromises his / her reliability to represent the best long-term economic interests of shareholders |
• | Where a director has a pattern of poor attendance at combined board and applicable key committee meetings. Excluding exigent circumstances, BlackRock generally considers attendance at less than 75% of the combined board and applicable key committee meetings by a board member to be poor attendance |
• | Where a director serves on an excess number of boards, which may limit his / her capacity to focus on each board’s requirements. The following illustrates the maximum number of boards on which a director may serve, before he / she is considered to be over-committed: |
Public
Company CEO |
#
Outside
Public Boards* |
Total
# of
Public Boards |
|||
Director A | x | 1 | 2 | ||
Director B | 3 | 4 |
* | In addition to the company under review |
• | The independent chair or lead independent director, members of the nominating / governance committee, and / or the longest tenured director(s), where we observe a lack of board responsiveness to shareholders, evidence of board entrenchment, and / or failure to promote adequate board succession planning |
• | The chair of the nominating / governance committee, or where no chair exists, the nominating / governance committee member with the longest tenure, where board member(s) at the most recent election of directors have received withhold votes from more than 30% of shares voted and the board has not taken appropriate action to respond to shareholder concerns. This may not apply in cases where BlackRock did not support the initial withhold vote |
• | The independent chair or lead independent director and / or members of the nominating / governance committee, where a board fails to implement shareholder proposals that receive a majority of votes cast at a prior shareholder meeting, and the proposals, in our view, have a direct and substantial impact on shareholders’ fundamental rights or long-term economic interests |
• | The independent chair or lead independent director and members of the governance committee, where a board implements or renews a poison pill without shareholder approval |
• | The independent chair or lead independent director and members of the governance committee, where a board amends the charter / articles / bylaws such that the effect may be to entrench directors or to significantly reduce shareholder rights |
• | Members of the compensation committee where the company has repriced options without shareholder approval |
• | If a board maintains a classified structure, it is possible that the director(s) with whom we have a particular concern may not be subject to election in the year that the concern arises. In such situations, if we have a concern regarding a committee or committee chair that is not up for re-election, we will generally register our concern by withholding votes from all available members of the relevant committee |
• | The mix of competencies, experience, and other qualities required to effectively oversee and guide management in light of the stated long-term strategy of the company |
• | The process by which candidates are identified and selected, including whether professional firms or other sources outside of incumbent directors’ networks have been engaged to identify and / or assess candidates |
• | The process by which boards evaluate themselves and any significant outcomes of the evaluation process, without divulging inappropriate and / or sensitive details |
• | The consideration given to board diversity, including, but not limited to, gender, ethnicity, race, age, experience, geographic location, skills, and perspective in the nomination process |
Combined
Chair / CEO Model |
Separate
Chair Model |
||||
Chair / CEO | Lead Director | Chair | |||
Board Meetings | Authority to call full meetings of the board of directors |
Attends
full meetings of the board of directors
Authority to call meetings of independent directors Briefs CEO on issues arising from executive sessions |
Authority to call full meetings of the board of directors | ||
Agenda | Primary responsibility for shaping board agendas, consulting with the lead director | Collaborates with chair / CEO to set board agenda and board information | Primary responsibility for shaping board agendas, in conjunction with CEO | ||
Board Communications | Communicates with all directors on key issues and concerns outside of full board meetings | Facilitates discussion among independent directors on key issues and concerns outside of full board meetings, including contributing to the oversight of CEO and management succession planning | Facilitates discussion among independent directors on key issues and concerns outside of full board meetings, including contributing to the oversight of CEO and management succession planning |
• | Appears to have a legitimate financing motive for requesting blank check authority |
• | Has committed publicly that blank check preferred shares will not be used for anti-takeover purposes |
• | Has a history of using blank check preferred stock for financings |
• | Has blank check preferred stock previously outstanding such that an increase would not necessarily provide further anti-takeover protection but may provide greater financing flexibility |
• | The degree to which the proposed transaction represents a premium to the company’s trading price. We consider the share price over multiple time periods prior to the date of the merger announcement. In most cases, business combinations should provide a premium. We may consider comparable transaction analyses provided by the parties’ financial advisors and our own valuation assessments. For companies facing insolvency or bankruptcy, a premium may not apply |
• | There should be clear strategic, operational, and / or financial rationale for the combination |
• | Unanimous board approval and arm’s-length negotiations are preferred. We will consider whether the transaction involves a dissenting board or does not appear to be the result of an arm’s-length bidding process. We may also consider whether executive and / or board members’ financial interests in a given transaction appear likely to affect their ability to place shareholders’ interests before their own |
• | We prefer transaction proposals that include the fairness opinion of a reputable financial advisor assessing the value of the transaction to shareholders in comparison to recent similar transactions |
• | Whether we believe that the triggering event is in the best interest of shareholders |
• | Whether management attempted to maximize shareholder value in the triggering event |
• | The percentage of total premium or transaction value that will be transferred to the management team, rather than shareholders, as a result of the golden parachute payment |
• | Whether excessively large excise tax gross-up payments are part of the pay-out |
• | Whether the pay package that serves as the basis for calculating the golden parachute payment was reasonable in light of performance and peers |
• | Whether the golden parachute payment will have the effect of rewarding a management team that has failed to effectively manage the company |
• | The company has experienced significant stock price decline as a result of macroeconomic trends, not individual company performance |
• | Directors and executive officers are excluded; the exchange is value neutral or value creative to shareholders; tax, accounting, and other technical considerations have been fully contemplated |
• | There is clear evidence that absent repricing, the company will suffer serious employee incentive or retention and recruiting problems |
• | Publish disclosures in line with industry specific SASB guidelines by year-end, if they have not already done so, or disclose a similar set of data in a way that is relevant to their particular business; and |
• | Disclose climate-related risks in line with the TCFD’s recommendations, if they have not already done so. This should include the company’s plan for operating under a scenario where the Paris Agreement’s goal of limiting global warming to less than two degrees is fully realized, as expressed by the TCFD guidelines. |
• | See our commentary on our approach to engagement on TCFD and SASB aligned reporting for greater detail of our expectations. |
• | The company has already taken sufficient steps to address the concern |
• | The company is in the process of actively implementing a response |
• | There is a clear and material economic disadvantage to the company in the near-term if the issue is not addressed in the manner requested by the shareholder proposal |
Albania | |||
January 1 | April 13 | September 7 | |
January 2 | April 20 | November 30 | |
March 14 | May 1 | December 8 | |
March 24 | July 31 | December 25 |
Australia | |||
January 1 | May 4 | October 5 | |
January 27 | June 1 | November 3 | |
March 2 | June 8 | December 24^ | |
March 9 | August 3 | December 25 | |
April 10 | August 12 | December 28 | |
April 13 | September 28 | December 31^ |
Austria | |||
January 1 | May 1 | December 24 | |
April 10 | June 1 | December 25 | |
April 13 | October 26 | December 31 |
Bahrain | |||
January 1 | May 26 | October 29 | |
May 24 | August 2 | December 16 | |
May 25 | August 20 | December 17 |
Bangladesh | |||
March 17 | May 21 | August 11 | |
March 26 | May 24 | August 30 | |
April 9 | May 25 | October 26 | |
April 14 | July 1 | December 16 | |
May 6 | August 2 | December 31 |
Belgium | |||
January 1 | May 21 | December 24^ | |
January 10^ | May 22 | December 25 | |
April 10 | June 1 | December 31^ | |
April 13 | July 21 | ||
May 1 | November 11 |
Benin | |||
January 1 | May 21 | August 7 | |
April 13 | June 1 | September 11 | |
May 1 | July 7 | December 25 |
Bermuda | |||
January 1 | July 30 | December 25 | |
April 10 | July 31 | December 28 | |
May 29 | September 7 | ||
June 15 | November 11 |
Bosnia and Herzegovina | |||
January 1 | April 17 | November 21 | |
January 2 | April 20 | November 25 | |
January 7 | May 1 | December 25 | |
January 9 | May 25 | ||
April 13 | July 31 |
Botswana | |||
January 1 | May 1 | July 21 | |
January 2 | May 21 | September 30 | |
April 10 | July 1 | October 1 | |
April 13 | July 20 | December 25 |
Brazil | |||
January 1 | May 1 | November 2 | |
February 24 | June 11 | November 20 | |
February 25 | July 9 | December 24^ | |
February 26* | September 7 | December 25 | |
April 10 | October 12 | December 31 | |
April 21 |
Bulgaria | |||
January 1 | April 20 | September 22 | |
March 3 | May 1 | December 24 | |
April 10 | May 6 | December 25 | |
April 13 | May 25 | December 28 | |
April 17 | September 7 |
Burkina Faso | |||
January 1 | May 21 | August 7 | |
April 13 | June 1 | September 11 | |
May 1 | July 7 | December 25 |
Canada | |||
January 1 | June 24 | November 11 | |
January 2 | July 1 | December 24^ | |
February 17 | August 3 | December 25 | |
April 10 | September 7 | December 28 | |
May 18 | October 12 |
Chile | |||
January 1 | July 16 | December 31 | |
April 10 | September 18 | ||
May 1 | October 12 | ||
May 21 | December 8 | ||
June 29 | December 25 |
China Connect-Bond Connect | |||
January 1 | April 30 | October 2 | |
January 27 | May 1 | October 26 | |
January 28 | June 25 | December 25 | |
April 10 | July 1 | ||
April 13 | October 1 |
Colombia | |||
January 1 | June 15 | November 2 | |
January 6 | June 22 | November 16 | |
March 23 | June 29 | December 8 | |
April 9 | July 20 | December 24 | |
April 10 | August 7 | December 25 | |
May 1 | August 17 | December 31 | |
May 25 | October 12 |
Costa Rica | |||
January 1 | May 1 | December 25 | |
April 9 | September 15 | ||
April 10 | October 12 |
Cyprus | |||
January 1 | April 13 | October 1 | |
January 6 | April 17 | October 28 | |
March 2 | April 20 | December 24 | |
March 25 | April 21 | December 25 | |
April 1 | May 1 | ||
April 10 | June 8 |
Czech Republic | |||
January 1 | May 8 | November 17 | |
April 10 | July 6 | December 24 | |
April 13 | September 28 | December 25 | |
May 1 | October 28 | December 31 |
Denmark | |||
January 1 | May 8 | June 5 | |
April 9 | May 21 | December 24 | |
April 10 | May 22 | December 25 | |
April 13 | June 1 | December 31 |
Egypt | |||
January 1 | May 24 | August 20 | |
January 7 | May 25 | October 6 | |
April 19 | July 23 | October 29 | |
April 20 | July 30 |
Estonia | |||
January 1 | May 1 | August 20 | |
February 24 | May 21 | December 24 | |
April 10 | June 23 | December 25 | |
April 13 | June 24 | December 31 |
Eswatini | |||
January 1 | May 1 | December 25 | |
April 10 | May 21 | December 28 | |
April 13 | July 22 | ||
April 20 | September 7 |
Finland | |||
January 1 | May 1 | December 25 | |
January 6 | May 21 | December 31 | |
April 10 | June 19 | ||
April 13 | December 24 |
France | ||
January 1 | May 1 | December 31^ |
April 10 | December 24^ | |
April 13 | December 25 |
Georgia | |||
January 1 | April 9 | May 26 | |
January 2 | April 17 | August 28 | |
January 7 | April 20 | October 14 | |
March 3 | May 12 | November 23 |
Germany | |||
January 1 | May 1 | December 25 | |
April 10 | June 1 | December 31 | |
April 13 | December 24 |
Ghana | |||
January 1 | May 1 | September 21 | |
January 7 | May 25 | December 4 | |
March 6 | July 30 | December 25 | |
April 10 | July 31 | December 28 | |
April 13 | August 4 |
Greece | |||
January 1 | April 13 | October 28 | |
January 6 | April 17 | December 24 | |
March 2 | April 20 | December 25 | |
March 25 | May 1 | ||
April 10 | June 8 |
Guinea-Bissau | |||
January 1 | May 21 | August 7 | |
April 13 | June 1 | September 11 | |
May 1 | July 7 | December 25 |
Hong Kong | |||
January 1 | April 30 | October 2 | |
January 27 | May 1 | October 26 | |
January 28 | June 25 | December 25 | |
April 10 | July 1 | ||
April 13 | October 1 |
Hungary | |||
January 1 | June 1 | December 24 | |
April 10 | August 20 | December 25 | |
April 13 | August 21 | ||
May 1 | October 23 |
Iceland | |||
January 1 | May 1 | December 24 | |
April 9 | May 21 | December 25 | |
April 10 | June 1 | December 31 | |
April 13 | June 17 | ||
April 23 | August 3 |
India | |||
February 19 | April 6 | October 2 | |
February 21 | April 10 | October 30 | |
March 10 | April 14 | November 16 | |
March 25 | May 1 | November 30 | |
April 1 | May 7 | December 25 | |
April 2 | May 25 |
Ireland | |||
January 1 | May 4 | December 25 | |
March 17 | June 1 | December 28 | |
April 10 | August 3 | December 29 | |
April 13 | October 26 | December 31^ | |
May 1 | December 24^ |
Italy | |||
January 1 | May 1 | December 31 | |
April 10 | December 24 | ||
April 13 | December 25 |
Ivory Coast | |||
January 1 | May 21 | August 7 | |
April 13 | June 1 | September 11 | |
May 1 | July 7 | December 25 |
Japan | |||
January 1 | April 29 | September 21 | |
January 2 | May 4 | September 22 | |
January 3 | May 5 | November 3 | |
January 13 | May 6 | November 23 | |
February 11 | July 23 | December 31 | |
February 24 | July 24 | ||
March 20 | August 10 |
Kazakhstan | |||
January 1 | March 25 | August 31 | |
January 2 | May 1 | December 1 | |
January 7 | May 7 | December 16 | |
March 9 | May 8 | December 17 | |
March 23 | July 6 | December 18 | |
March 24 | July 31 |
Kenya | |||
January 1 | May 1 | July 31 | |
April 10 | May 25 | October 20 | |
April 13 | June 1 | December 25 |
Kuwait | |||
January 1 | May 24 | August 3 | |
January 2 | May 25 | August 20 | |
February 25 | May 26 | November 1 | |
February 26 | July 30 | ||
March 22 | August 2 |
Latvia | |||
January 1 | May 21 | December 24 | |
April 10 | June 22 | December 25 | |
April 13 | June 23 | December 31 | |
May 1 | June 24 | ||
May 4 | November 18 |
Lithuania | |||
January 1 | May 1 | December 24 | |
March 11 | May 21 | December 25 | |
April 10 | June 24 | December 31 | |
April 13 | July 6 |
Luxembourg | |||
January 1 | May 1 | December 31^ | |
April 10 | December 24^ | ||
April 13 | December 25 |
Malawi | |||
January 1 | April 13 | July 6 | |
January 15 | May 1 | October 15 | |
March 3 | May 14 | December 25 | |
April 10 | May 25 |
Malaysia | |||
January 1 | May 11 | August 31 | |
January 24^ | May 25 | September 16 | |
January 27 | May 26 | October 29 | |
May 1 | July 31 | December 25 | |
May 7 | August 20 |
Mauritius | |||
January 1 | March 12 | November 2 | |
January 2 | March 25 | December 25 | |
February 21 | May 1 |
Mexico | |||
January 1 | April 10 | November 16 | |
February 3 | May 1 | December 25 | |
March 16 | September 16 | ||
April 9 | November 2 |
Morocco | |||
January 1 | July 30 | August 21 | |
May 1 | July 31 | October 30 | |
May 25 | August 14 | November 6 | |
May 26 | August 20 | November 18 |
Namibia | |||
January 1 | May 4 | December 10 | |
April 10 | May 21 | December 25 | |
April 13 | May 25 | ||
May 1 | August 26 |
New Zealand | |||
January 1 | April 13 | December 25 | |
January 2 | April 27 | December 28 | |
February 6 | June 1 | ||
April 10 | October 26 |
Niger | |||
January 1 | May 21 | August 7 | |
April 13 | June 1 | September 11 | |
May 1 | July 7 | December 25 |
Nigeria | |||
January 1 | May 25 | October 29 | |
April 10 | June 12 | December 25 | |
April 13 | July 31 | ||
May 1 | October 1 |
Norway | |||
January 1 | April 13 | December 24 | |
April 8^ | May 1 | December 25 | |
April 9 | May 21 | December 31 | |
April 10 | June 1 |
Oman | |||
January 1 | July 23 | November 18 | |
March 22 | August 20 | ||
May 24 | October 29 |
Pakistan | |||
January 1 | May 25 | August 14 | |
February 5 | May 26 | August 27 | |
March 23 | May 27 | August 28 | |
April 23 | July 1 | October 29 | |
May 1 | July 30 | October 30 | |
May 22 | July 31 | December 25 |
Panama | |||
January 1 | April 9 | November 5 | |
January 13 | April 10 | November 10 | |
February 24 | May 1 | December 8 | |
February 25 | November 3 | December 25 | |
February 26 | November 4 | December 31 |
Peru | |||
January 1 | May 1 | October 8 | |
April 9 | June 29 | December 25 | |
April 10 | July 28 |
Philippines | |||
January 1 | May 1 | November 2 | |
February 25 | June 12 | November 30 | |
April 9 | August 21 | December 8 | |
April 10 | August 31 |
Poland | |||
January 1 | May 1 | December 25 | |
January 6 | June 11 | December 31^ | |
April 10^ | November 11 | ||
April 13 | December 24^ |
Portugal | |||
January 1 | May 1 | December 31^ | |
April 10 | December 24^ | ||
April 13 | December 25 |
Qatar | |||
January 1 | May 24 | July 30 | |
February 11 | May 25 | ||
March 1 | May 26 |
Romania | |||
January 1 | May 1 | December 1 | |
January 2 | June 1 | December 25 | |
April 17 | June 8 | ||
April 20 | November 30 |
Russia | |||
January 1 | March 9 | May 11 | |
January 2 | May 1 | June 12 | |
January 7 | May 4 | November 4 | |
February 24 | May 5 |
Saudi Arabia | |||
May 24 | May 28 | August 4 | |
May 25 | July 30 | August 5 | |
May 26 | August 2 | September 23 | |
May 27 | August 3 |
Senegal | |||
January 1 | May 21 | August 7 | |
April 13 | June 1 | December 25 | |
May 1 | July 7 |
Serbia | |||
January 1 | January 7 | May 1 | |
January 2 | February 17 | November 11 | |
January 3 | April 17 | ||
January 6 | April 20 |
Singapore | |||
January 1 | May 1 | July 31 | |
January 27 | May 7 | August 10 | |
April 10 | May 25 | December 25 |
Slovakia | |||
January 1 | May 1 | November 17 | |
January 6 | May 8 | December 24 | |
April 10 | September 1 | December 25 | |
April 13 | September 15 |
Slovenia | |||
January 1 | April 27 | December 25 | |
January 2 | May 1 | December 31 | |
April 10 | June 25 | ||
April 13 | December 24 |
South Africa | |||
January 1 | May 1 | December 16 | |
April 10 | June 16 | December 25 | |
April 13 | August 10 | ||
April 27 | September 24 |
South Korea | |||
January 1 | May 1 | October 9 | |
January 24 | May 5 | December 25 | |
January 27 | September 30 | December 31 | |
April 15 | October 1 | ||
April 30 | October 2 |
Spain | |||
January 1 | May 1 | December 31^ | |
April 10 | December 24^ | ||
April 13 | December 25 |
Sri Lanka | |||
January 1 | April 10 | June 5 | |
January 10 | April 13 | August 3 | |
January 15 | April 14 | September 1 | |
February 4 | May 1 | October 1 | |
February 21 | May 7 | October 30 | |
March 9 | May 8 | December 25 | |
April 7 | May 25 | December 29 |
Sweden | |||
January 1 | April 30^ | October 30^ | |
January 6 | May 1 | December 24 | |
April 9^ | May 20^ | December 25 | |
April 10 | May 21 | December 31 | |
April 13 | June 19 |
Switzerland | |||
January 1 | April 20^ | September 14^ | |
January 2 | May 1 | December 24 | |
April 10 | May 21 | December 25 | |
April 13 | June 1 | December 31 |
Taiwan | |||
January 1 | January 29 | June 25 | |
January 23 | February 28 | June 26 | |
January 24 | April 2 | October 1 | |
January 27 | April 3 | October 2 | |
January 28 | May 1 | October 9 |
Tanzania | |||
January 1 | May 1 | October 29 | |
April 7 | July 7 | December 9 | |
April 10 | July 31 | December 25 | |
April 13 | October 14 |
Thailand | |||
January 1 | May 1 | August 12 | |
February 10 | May 4 | October 13 | |
April 6 | May 6 | October 23 | |
April 13 | June 3 | December 7 | |
April 14 | July 6 | December 10 | |
April 15 | July 28 | December 31 |
Togo | |||
January 1 | May 21 | August 7 | |
April 13 | June 1 | September 11 | |
May 1 | July 7 | December 25 |
Tunisia | |||
January 1 | May 1 | August 13 | |
January 14 | May 25 | August 20 | |
March 20 | July 30 | October 15 | |
April 9 | July 31 | October 28 |
Turkey | |||
January 1 | May 25 | July 31 | |
April 23 | May 26 | August 3 | |
May 1 | July 15 | October 28 | |
May 19 | July 30 | October 29 |
United Arab Emirates | |||
January 1 | May 26 | December 2 | |
May 24 | August 20 | December 3 | |
May 25 | December 1 |
The United Kingdom | |||
January 1 | May 8 | December 25 | |
April 10 | May 25 | December 28 | |
April 13 | August 31 |
* | The U.S. bond market has recommended early close. |
Uruguay | |||
January 1 | April 10 | October 12 | |
January 6 | May 1 | November 2 | |
February 24 | May 18 | December 25 | |
February 25 | June 19 | ||
April 9 | August 25 |
Vietnam | |||
January 1 | January 28 | May 1 | |
January 23 | January 29 | September 2 | |
January 24 | April 2 | ||
January 27 | April 30 |
Zambia | |||
January 1 | April 13 | July 7 | |
March 9 | May 1 | August 3 | |
March 12 | May 25 | October 19 | |
April 10 | July 6 | December 25 |
Zimbabwe | |||
January 1 | May 1 | December 22 | |
February 21 | May 25 | December 25 | |
April 10 | August 10 | ||
April 13 | August 11 |
2020 | ||||||
Country |
Trade
Date |
Settlement
Date |
Number
of
Days to Settle |
|||
Australia | 12/21/20 | 12/29/20 | 8 | |||
12/22/20 | 12/30/20 | 8 | ||||
12/23/20 | 01/04/21 | 12 | ||||
Bangladesh | 05/18/20 | 05/26/20 | 8 | |||
05/19/20 | 05/27/20 | 8 | ||||
05/20/20 | 05/28/20 | 8 | ||||
China | 01/21/20 | 01/31/20 | 10 | |||
01/22/20 | 02/03/20 | 12 | ||||
01/23/20 | 02/04/20 | 12 | ||||
04/28/20 | 05/06/20 | 8 | ||||
04/29/20 | 05/07/20 | 8 | ||||
04/30/20 | 05/08/20 | 8 | ||||
09/28/20 | 10/09/20 | 11 | ||||
09/29/20 | 10/12/20 | 13 | ||||
09/30/20 | 10/13/20 | 13 | ||||
China Connect – Stock Connect | 01/23/20 | 01/31/20 | 8 | |||
04/28/20 | 05/06/20 | 8 | ||||
09/30/20 | 10/09/20 | 9 | ||||
Eswatini | 04/03/20 | 04/14/20 | 11 | |||
04/06/20 | 04/15/20 | 9 | ||||
04/07/20 | 04/16/20 | 9 | ||||
04/08/20 | 04/17/20 | 9 | ||||
04/09/20 | 04/21/20 | 12 | ||||
04/14/20 | 04/22/20 | 8 | ||||
04/15/20 | 04/23/20 | 8 | ||||
04/16/20 | 04/24/20 | 8 | ||||
04/17/20 | 04/27/20 | 10 | ||||
04/24/20 | 05/04/20 | 10 | ||||
04/27/20 | 05/05/20 | 8 | ||||
04/28/20 | 05/06/20 | 8 | ||||
04/29/20 | 05/07/20 | 8 | ||||
04/30/20 | 05/08/20 | 8 | ||||
05/14/20 | 05/22/20 | 8 | ||||
05/15/20 | 05/25/20 | 10 | ||||
05/18/20 | 05/26/20 | 8 | ||||
05/19/20 | 05/27/20 | 8 | ||||
05/20/20 | 05/28/20 | 8 | ||||
07/15/20 | 07/23/20 | 8 | ||||
07/16/20 | 07/24/20 | 8 | ||||
07/17/20 | 07/27/20 | 10 | ||||
07/20/20 | 07/28/20 | 8 | ||||
07/21/20 | 07/29/20 | 8 | ||||
08/31/20 | 09/08/20 | 8 | ||||
09/01/20 | 09/09/20 | 8 | ||||
09/02/20 | 09/10/20 | 8 | ||||
09/03/20 | 09/11/20 | 8 |
2020 | ||||||
Country |
Trade
Date |
Settlement
Date |
Number
of
Days to Settle |
|||
09/04/20 | 09/14/20 | 10 | ||||
12/18/20 | 12/29/20 | 11 | ||||
12/21/20 | 12/30/20 | 9 | ||||
12/22/20 | 12/31/20 | 9 | ||||
12/23/20 | 01/04/21 | 12 | ||||
12/24/20 | 01/05/21 | 12 | ||||
Ghana | 07/28/20 | 08/05/20 | 8 | |||
07/29/20 | 08/06/20 | 8 | ||||
Indonesia | 05/19/20 | 05/28/20 | 9 | |||
05/20/20 | 05/29/20 | 9 | ||||
Ireland | 12/22/20 | 12/30/20 | 8 | |||
12/23/20 | 01/04/21 | 12 | ||||
Israel | 04/06/20 | 04/16/20 | 10 | |||
04/07/20 | 04/19/20 | 12 | ||||
09/30/20 | 10/11/20 | 11 | ||||
10/01/20 | 10/12/20 | 11 | ||||
Kuwait | 05/19/20 | 05/27/20 | 8 | |||
05/20/20 | 05/28/20 | 8 | ||||
05/21/20 | 05/31/20 | 10 | ||||
07/27/20 | 08/04/20 | 8 | ||||
07/28/20 | 08/05/20 | 8 | ||||
07/29/20 | 08/06/20 | 8 | ||||
Malawi | 01/08/20 | 01/16/20 | 8 | |||
01/09/20 | 01/17/20 | 8 | ||||
01/10/20 | 01/20/20 | 10 | ||||
01/13/20 | 01/21/20 | 8 | ||||
01/14/20 | 01/22/20 | 8 | ||||
02/25/20 | 03/04/20 | 8 | ||||
02/26/20 | 03/05/20 | 8 | ||||
02/27/20 | 03/06/20 | 8 | ||||
02/28/20 | 03/09/20 | 10 | ||||
03/02/20 | 03/10/20 | 8 | ||||
04/03/20 | 04/14/20 | 11 | ||||
04/06/20 | 04/15/20 | 9 | ||||
04/07/20 | 04/16/20 | 9 | ||||
04/08/20 | 04/17/20 | 9 | ||||
04/09/20 | 04/20/20 | 11 | ||||
04/24/20 | 05/04/20 | 10 | ||||
04/27/20 | 05/05/20 | 8 | ||||
04/28/20 | 05/06/20 | 8 | ||||
04/29/20 | 05/07/20 | 8 | ||||
04/30/20 | 05/08/20 | 8 | ||||
05/07/20 | 05/15/20 | 8 | ||||
05/08/20 | 05/18/20 | 10 |
2020 | ||||||
Country |
Trade
Date |
Settlement
Date |
Number
of
Days to Settle |
|||
05/11/20 | 05/19/20 | 8 | ||||
05/12/20 | 05/20/20 | 8 | ||||
05/13/20 | 05/21/20 | 8 | ||||
05/18/20 | 05/26/20 | 8 | ||||
05/19/20 | 05/27/20 | 8 | ||||
05/20/20 | 05/28/20 | 8 | ||||
05/21/20 | 05/29/20 | 8 | ||||
05/22/20 | 06/01/20 | 10 | ||||
06/29/20 | 07/07/20 | 8 | ||||
06/30/20 | 07/08/20 | 8 | ||||
07/01/20 | 07/09/20 | 8 | ||||
07/02/20 | 07/10/20 | 8 | ||||
07/03/20 | 07/13/20 | 10 | ||||
10/08/20 | 10/16/20 | 8 | ||||
10/09/20 | 10/19/20 | 10 | ||||
10/12/20 | 10/20/20 | 8 | ||||
10/13/20 | 10/21/20 | 8 | ||||
10/14/20 | 10/22/20 | 8 | ||||
12/18/20 | 12/28/20 | 10 | ||||
12/21/20 | 12/29/20 | 8 | ||||
12/22/20 | 12/30/20 | 8 | ||||
12/23/20 | 12/31/20 | 8 | ||||
12/24/20 | 01/04/21 | 11 | ||||
Namibia | 04/03/20 | 04/14/20 | 11 | |||
04/06/20 | 04/15/20 | 9 | ||||
04/07/20 | 04/16/20 | 9 | ||||
04/08/20 | 04/17/20 | 9 | ||||
04/09/20 | 04/20/20 | 11 | ||||
04/24/20 | 05/05/20 | 11 | ||||
04/27/20 | 05/06/20 | 9 | ||||
04/28/20 | 05/07/20 | 9 | ||||
04/29/20 | 05/08/20 | 9 | ||||
04/30/20 | 05/11/20 | 11 | ||||
05/14/20 | 05/22/20 | 8 | ||||
05/15/20 | 05/26/20 | 11 | ||||
05/18/20 | 05/27/20 | 9 | ||||
05/19/20 | 05/28/20 | 9 | ||||
05/20/20 | 05/29/20 | 9 | ||||
05/22/20 | 06/01/20 | 10 | ||||
08/19/20 | 08/27/20 | 8 | ||||
08/20/20 | 08/28/20 | 8 | ||||
08/21/20 | 08/31/20 | 10 | ||||
08/24/20 | 09/01/20 | 8 | ||||
08/25/20 | 09/02/20 | 8 | ||||
12/03/20 | 12/11/20 | 8 | ||||
12/04/20 | 12/14/20 | 10 | ||||
12/07/20 | 12/15/20 | 8 | ||||
12/08/20 | 12/16/20 | 8 | ||||
12/09/20 | 12/17/20 | 8 |
2020 | ||||||
Country |
Trade
Date |
Settlement
Date |
Number
of
Days to Settle |
|||
12/18/20 | 12/28/20 | 10 | ||||
12/21/20 | 12/29/20 | 8 | ||||
12/22/20 | 12/30/20 | 8 | ||||
12/23/20 | 12/31/20 | 8 | ||||
12/24/20 | 01/04/21 | 11 | ||||
Norway | 04/06/20 | 04/14/20 | 8 | |||
04/07/20 | 04/15/20 | 8 | ||||
Pakistan | 05/20/20 | 05/28/20 | 8 | |||
05/21/20 | 05/29/20 | 8 | ||||
Qatar | 05/19/20 | 05/27/20 | 8 | |||
05/20/20 | 05/28/20 | 8 | ||||
05/21/20 | 05/31/20 | 10 | ||||
Russia | 04/28/20 | 05/06/20 | 8 | |||
04/29/20 | 05/07/20 | 8 | ||||
04/30/20 | 05/08/20 | 8 | ||||
Saudi Arabia | 05/20/20 | 05/31/20 | 11 | |||
05/21/20 | 06/01/20 | 11 | ||||
07/28/20 | 08/06/20 | 9 | ||||
07/29/20 | 08/09/20 | 11 | ||||
Sri Lanka | 04/06/20 | 04/15/20 | 9 | |||
04/08/20 | 04/16/20 | 8 | ||||
04/09/20 | 04/17/20 | 8 | ||||
Taiwan | 01/21/20 | 01/30/20 | 9 | |||
01/22/20 | 01/31/20 | 9 | ||||
Tanzania | 04/06/20 | 04/14/20 | 8 | |||
Vietnam | 01/21/20 | 01/30/20 | 9 | |||
01/22/20 | 01/31/20 | 9 |
* | These worst-case redemption cycles are based on information regarding regular holidays available as of January 17, 2020, which may be out of date as of the date of this SAI. Based on changes in holidays, longer (worse) redemption cycles are possible. Further, regional holidays, the treatment by market participants of certain days as unofficial holidays (including days on which no or limited securities transactions occur as a result of substantially shortened trading hours), the elimination of existing holidays, or changes in local securities delivery practices, could affect the information set forth herein. |
iShares Trust
File Nos. 333-92935 and 811-09729
Part C
Other Information
Item 28. Exhibits:
PEA # 2,389
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- 3 -
Item 29. Persons Controlled By or Under Common Control with Registrant:
None.
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Item 30. Indemnification:
The Trust (also referred to in this section as the Fund) is organized as a Delaware statutory trust and is operated pursuant to an Amended and Restated Agreement and Declaration of Trust (the Declaration of Trust) that permits the Trust to indemnify its trustees and officers under certain circumstances. Such indemnification, however, is subject to the limitations imposed by the Securities Act of 1933, as amended (the 1933 Act), and the Investment Company Act of 1940, as amended (the 1940 Act).
Section 10.2 of the Declaration of Trust:
The Declaration of Trust provides that every person who is, or has been, a trustee or officer of the Trust (a Covered Person) shall be indemnified by the Trust to the fullest extent permitted by law against liability and against all expenses reasonably incurred or paid in connection with any claim, action, suit, proceeding in which he or she becomes involved as a party or otherwise by virtue of being or having been a trustee or officer and against amounts paid as incurred in the settlement thereof. However, no indemnification shall be provided to a Covered Person:
(i) who shall have been adjudicated by a court or body before which the proceeding was brought (a) to be liable to the Trust or its shareholders by reason of willful misfeasance, bad faith, gross negligence, or reckless disregard of the duties involved in the conduct of his office or (b) not to have acted in good faith in the reasonable belief that his action was in the best interest of the Trust; or
(ii) in the event of a settlement, unless there has been a determination that such trustee or officer did not engage in willful misfeasance, bad faith, gross negligence, or reckless disregard of the duties involved in the conduct of his office: (a) by the court or other body approving the settlement; (b) by at least a majority of those trustees who neither are interested persons (as defined in the 1940 Act) of the Trust nor are parties to the matter based upon a review of readily-available facts (as opposed to a full trial-type inquiry); or (c) by written opinion of independent legal counsel based upon a review of readily-available facts (as opposed to a full trial-type inquiry); provided, however, that any shareholder, by appropriate legal proceedings, may challenge any such determination by the trustees or by independent counsel.
Article IX of the Registrants Amended and Restated By-Laws:
The Amended and Restated By-Laws provides that the Trust may purchase and maintain insurance on behalf of any Covered Person or employee of the Trust, including any Covered Person or employee of the Trust who is or was serving at the request of the Trust as a trustee, officer, or employee of a corporation, partnership, association, joint venture, trust, or other enterprise, against any liability asserted against and incurred by such Covered Person or employee in any such capacity or arising out of his or her status as such, whether or not the trustees would have the power to indemnify him or her against such liability. The Trust may not acquire or obtain a contract for insurance that protects or purports to protect any trustee or officer of the Trust against any liability to the Trust or its Shareholders to which such trustee or officer otherwise would be subject by reason of willful misfeasance, bad faith, gross negligence, or reckless disregard of the duties involved in the conduct of his or her office.
1933 Act:
Insofar as indemnification for liabilities arising under the 1933 Act may be permitted to directors, officers and controlling persons of the Fund pursuant to the foregoing provisions, or otherwise, the Fund has been advised that in the opinion of the SEC such indemnification is against public policy as expressed in the 1933 Act and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the Fund of expenses incurred or paid by a director, officer or controlling person of the Fund in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the Fund will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the 1933 Act and will be governed by the final adjudication of such issue.
Section 17 of the Master Services Agreement between Registrant and State Street:
The Master Services Agreement provides that State Street will indemnify, defend and hold harmless the applicable Fund, its Affiliates, and its respective officers, directors, employees, agents and permitted successors and assigns from any and all damages, fines, penalties, deficiencies, losses, liabilities (including judgments and amounts reasonably paid in settlement) and expenses (including
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interest, court costs, reasonable fees and expenses of attorneys, accountants and other experts or other reasonable fees and expenses of litigation or other proceedings or of any claim, default or assessment) (Losses) arising from or in connection with any third party claim or threatened third party claim to the extent that such Losses are based on or arising out of any of the following: (a) breach by State Street or any State Street Personnel of any of its data protection, information security or confidentiality obligations hereunder or under a Service Module to which such Fund is a signatory; (b) any claim of infringement or misappropriation of any Intellectual Property Right alleged to have occurred because of systems or other Intellectual Property provided by or on behalf of State Street or based upon the performance of the Services (collectively, the State Street Infringement Items), except to the extent that such infringement or misappropriation relates to or results from; (i) changes made by any Fund or by a third party at the direction of a Fund to the State Street Infringement Items; (ii) changes to the State Street Infringement Items recommended by State Street and not made due to a request from any Fund, provided that State Street has notified such Fund that failure to implement such recommendation would result in infringement within a reasonable amount of time for such Fund to so implement following such notification; (iii) any Funds combination of the State Street Infringement Items with products or services not provided or approved in writing by State Street, except to the extent such combination arises out of any Funds use of the State Street Infringement Items in a manner consistent with the applicable business requirements documentation; (iv) designs or specifications that in themselves infringe and that are provided by or at the direction of any Fund (except in the event of a knowing infringement by State Street); or (v) use by a Fund of any of the State Street Infringement Items in a manner that is not consistent with the applicable business requirements documentation or otherwise not permitted under the Master Services Agreement or any Service Module; (c) any claim or action by, on behalf of, or related to, any prospective, then-current or former employees of State Street, arising from or in connection with a Service Module to which a Fund is a signatory, including: (i) any claim arising under occupational health and safety, workers compensation, ERISA or other applicable Law; (ii) any claim arising from the interview or hiring practices, actions or omissions of employees of State Street; (iii) any claim relating to any violation by employees of State Street, or its respective officers, directors, employees, representatives or agents, of any Law or any common law protecting persons or members of protected classes or categories, such laws or regulations prohibiting discrimination or harassment on the basis of a protected characteristic; and (iv) any claim based on a theory that such Fund is an employer or joint employer of any such prospective, then-current or former employees of State Street; (d) the failure by State Street to obtain, maintain, or comply with any governmental approvals as required under the Master Services Agreement and/or a Service Module to which such Fund is a signatory or such other failures as otherwise agreed by the Parties from time to time; (e) claims by third parties arising from claims by governmental authorities against such Customer for fines, penalties, sanctions, late fees or other remedies to the extent arising from or in connection with State Streets failure to perform its responsibilities under the Master Services Agreement or any Service Module (except to the extent a Fund is not permitted as a matter of public policy to have such an indemnity for financial penalties arising from criminal actions); (f) claims by clients of State Street relating to services, products or systems provided by State Street or a Subcontractor to such client(s) in a shared or leveraged environment; (g) any claim initiated by an Affiliate or potential or actual Subcontractor of State Street asserting rights in connection with a Service Module to which such Fund is a signatory; or (h) other claims as otherwise agreed by the Parties from time to time.
Each Party will indemnify, defend and hold harmless the other Party and their respective officers, directors, employees, agents, successors and assigns from any and all Losses arising from or in connection with any of the following, including Losses arising from or in connection with any third party claim or threatened third party claim: (a) the death or bodily injury of an agent, employee, customer, business invitee or business visitor or other person caused by the tortious or criminal conduct of the other Party; or (b) the damage, loss or destruction of real or tangible personal property caused by the tortious or criminal conduct of the other Party.
Section 8.02 of the Distribution Agreement between Registrant and BRIL:
The Distribution Agreement provides that the Trust agrees to indemnify, defend and hold harmless, BRIL, each of its directors, officers, principals, representatives, employees and each person, if any, who controls BRIL within the meaning of Section 15 of the 1933 Act (collectively, the BRIL Indemnified Parties) on an as-incurred basis from and against any and all losses, claims, damages or liabilities whatsoever (including any investigation, legal or other expenses incurred in connection with, and any amount paid in settlement of, any action, suit or proceeding or any claim asserted) (collectively, Losses) to which the BRIL Indemnified Parties become subject, arising out of or based upon (i) any untrue statement or alleged untrue statement of a material fact contained in any Prospectus or the omission or alleged omission therefrom of a material fact required to be stated therein or necessary to make the statements therein not misleading and (ii) any breach of any representation, warranty or covenant made by the Trust in this Agreement; provided, however, that the Trust shall not be liable in any such case to the extent that any Loss arises out of or is based upon (A) an untrue statement or alleged untrue statement or omission or alleged omission made in the Prospectus about BRIL in reliance upon and in conformity with written information furnished to the Trust by BRIL expressly for use therein; (B) BRILs own willful misfeasance, willful misconduct or gross negligence or BRILs reckless disregard of its obligations under this Agreement or arising out of the failure of BRIL to deliver a current Prospectus; or (C) BRILs material breach of this Agreement.
- 6 -
The Distribution Agreement also provides that BRIL agrees to indemnify and hold harmless the Trust, each of its trustees, officers, employees and each person, if any, who controls the Trust within the meaning of Section 15 of the 1933 Act (collectively, the Trust Indemnified Parties) from and against any and all losses to which the Trust Indemnified Parties become subject, arising out of or based upon (i) any untrue statement or alleged untrue statement of a material fact contained in the Prospectus or the omission or alleged omission therefrom of a material fact required to be stated therein or necessary to make the statements therein not misleading, in reliance upon and in conformity with written information furnished to the Trust by BRIL about BRIL expressly for use therein; (ii) any breach of any representation, warranty or covenant made by BRIL in the Distribution Agreement; and (iii) the actions or omissions of any person acting under the supervision of BRIL in providing services under the Distribution Agreement; provided, however, that BRIL shall not be liable in any such case to the extent that any loss arises out of or is based upon (A) the Trusts own willful misfeasance, willful misconduct or gross negligence or the Trusts reckless disregard of its obligations under the Distribution Agreement or (B) the Trusts material breach of the Distribution Agreement.
The Authorized Participant Agreement:
The Authorized Participant Agreement provides that the Authorized Participant (the Participant) agrees to indemnify and hold harmless the Fund and its respective subsidiaries, affiliates, directors, officers, employees and agents, and each person, if any, who controls such persons within the meaning of Section 15 of the 1933 Act (each an Indemnified Party) from and against any loss, liability, cost and expense (including attorneys fees) incurred by such Indemnified Party as a result of (i) any breach by the Participant of any provision of the Authorized Participant Agreement that relates to the Participant; (ii) any failure on the part of the Participant to perform any of its obligations set forth in the Authorized Participant Agreement; (iii) any failure by the Participant to comply with applicable laws, including rules and regulations of self-regulatory organizations; or (iv) actions of such Indemnified Party in reliance upon any instructions issued in accordance with Annex II, III or IV (as each may be amended from time to time) of the Authorized Participant Agreement reasonably believed by the distributor and/or the transfer agent to be genuine and to have been given by the Participant.
Section 5.1 of the Third Amended and Restated Securities Lending Agency Agreement:
The Third Amended and Restated Securities Lending Agency Agreement provides that the Trust on behalf of each Fund agrees to indemnify BTC and to hold it harmless from and against any and all costs, expenses, damages, liabilities or claims (including reasonable fees and expenses of counsel) which BTC may sustain or incur or which may be asserted against BTC by reason of or as a result of any action taken or omitted by BTC in connection with or arising out of BTCs operating under and in compliance with this Agreement, except those costs, expenses, damages, liabilities or claims arising out of BTCs negligence, bad faith, willful misconduct, or reckless disregard of its obligations and duties hereunder. Actions taken or omitted in reasonable reliance upon Oral Instructions or Written Instructions, any Certificate, or upon any information, order, indenture, stock certificate, power of attorney, assignment, affidavit or other instrument reasonably believed by BTC to be genuine or bearing the signature of a person or persons reasonably believed by BTC to be genuine or bearing the signature of a person or persons reasonably believed to be authorized to sign, countersign or execute the same, shall be presumed to have been taken or omitted in good faith.
The Third Amended and Restated Securities Lending Agency Agreement also provides that BTC shall indemnify and hold harmless the Trust and each Fund, its Board of Trustees and its agents and BFA and any investment adviser for the Funds from any and all loss, liability, costs, damages, actions, and claims (Loss) to the extent that any such Loss arises out of the material breach of this Agreement by or negligent acts or omissions or willful misconduct of BTC, its officers, directors or employees or any of its agents or subcustodians in connection with the securities lending activities undertaken pursuant to this Agreement, provided that BTCs indemnification obligation with respect to the acts or omissions of its subcustodians shall not exceed the indemnification provided by the applicable subcustodian to BTC.
The Participation Agreement:
The Form of Participation Agreement generally provides that each Investing Fund agrees to hold harmless and indemnify the iShares Funds, including any of their principals, directors or trustees, officers, employees and agents, against and from any and all losses, expenses or liabilities incurred by or claims or actions (Claims) asserted against the iShares Funds, including any of their principals, directors or trustees, officers, employees and agents, to the extent such Claims result from (i) a violation or alleged violation by such Investing Fund of any provision of this Agreement or (ii) a violation or alleged violation by such Investing Fund of the terms and conditions of the iShares Order, such indemnification to include any reasonable counsel fees and expenses incurred in connection with investigating and/or defending such Claims.
- 7 -
The iShares Funds agree to hold harmless and indemnify an Investing Fund, including any of its directors or trustees, officers, employees and agents, against and from any Claims asserted against the Investing Fund, including any of its directors or trustees, officers, employees and agents, to the extent such Claims result from (i) a violation or alleged violation by the iShares Fund of any provision of this Agreement or (ii) a violation or alleged violation by the iShares Fund of the terms and conditions of the iShares Order, such indemnification to include any reasonable counsel fees and expenses incurred in connection with investigating and/or defending such Claims; provided that no iShares Fund shall be liable for indemnifying any Investing Fund for any Claims resulting from violations that occur as a result of incomplete or inaccurate information provided by the Investing Fund to such iShares Fund pursuant to terms and conditions of the iShares Order or this Agreement.
Sublicense Agreements between the Registrant and BFA:
The Sublicense Agreements generally provide that the Trust shall indemnify and hold harmless BFA, its officers, employees, agents, successors, and assigns against all judgments, damages, costs or losses of any kind (including reasonable attorneys and experts fees) resulting from any claim, action or proceeding (collectively claims) that arises out of or relates to (a) the creation, marketing, advertising, selling, and operation of the Trust or interests therein, (b) any breach by BFA of its covenants, representations, and warranties under the License Agreement caused by the actions or inactions of the Trust, or (c) any violation of applicable laws (including, but not limited to, banking, commodities, and securities laws) arising out of the offer, sale, operation, or trading of the Trust or interests therein, except to the extent such claims result from the negligence, gross negligence or willful misconduct of BFA or an affiliate of BFA. The provisions of this section shall survive termination of this Sublicense Agreement.
Item 31. Business and Other Connections of the Investment Adviser:
The Trust is advised by BFA, an indirect wholly owned subsidiary of BlackRock, Inc., 400 Howard Street, San Francisco, CA 94105. BFAs business is that of a registered investment adviser to certain open-end, management investment companies and various other institutional investors.
The directors and officers of BFA consist primarily of persons who during the past two years have been active in the investment management business. To the knowledge of the Registrant, except as set forth below, none of the directors or executive officers of BFA is or has been at any time during the past two fiscal years engaged in any other business, profession, vocation or employment of a substantial nature. Information as to the executive officers and directors of BFA is included in its Form ADV filed with the SEC (File No. 801-22609) and is incorporated herein by reference.
Director or Officer | Capacity with BFA | Principal Business(es) During Last Two Fiscal Years | ||
FINK, LAURENCE DOUGLAS | CHIEF EXECUTIVE OFFICER | Chairman and Chief Executive Officer of BlackRock, Inc. | ||
GOLDSTEIN, ROBERT LAWRENCE | CHIEF OPERATING OFFICER AND DIRECTOR | Senior Managing Director and Chief Operating Officer of BlackRock, Inc. | ||
KAPITO, ROBERT STEVEN | PRESIDENT | President and Director of BlackRock, Inc. | ||
MEADE, CHRISTOPHER JOSEPH | GENERAL COUNSEL AND CHIEF LEGAL OFFICER | Senior Managing Director and Chief Legal Officer of BlackRock, Inc. | ||
PARK, CHARLES CHOON SIK | CHIEF COMPLIANCE OFFICER | Managing Director of BlackRock, Inc. and Chief Compliance Officer of BlackRocks registered investment companies | ||
SHEDLIN, GARY STEPHEN | CHIEF FINANCIAL OFFICER AND DIRECTOR | Senior Managing Director and Chief Financial Officer of BlackRock Inc. | ||
WALTCHER, DANIEL RUSSELL | DIRECTOR | Managing Director and Deputy General Counsel of BlackRock, Inc. |
BIL acts as sub-adviser for a number of affiliated registered investment companies advised by BFA. The address of each of these registered investment companies is 400 Howard Street, San Francisco, CA 94105. The address of BIL is Exchange Place One, 1 Semple Street, Edinburgh, EH3 8BL, United Kingdom. To the knowledge of the Registrant, except as set forth below, none of the directors or executive officers of BIL is or has been at any time during the past two fiscal years engaged in any other business, profession, vocation or employment of a substantial nature. Information as to the executive officers and directors of BIL is included in its Form ADV filed with the SEC (File No. 801-51087) and is incorporated herein by reference.
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Director or Officer | Capacity with BIL | Principal Business(es) During Last Two Fiscal Years | ||
CHARRINGTON, NICHOLAS JAMES | DIRECTOR | Senior Adviser and Non-Executive Chairman of EMEA of BlackRock, Inc., Non-Executive Director of BlackRock Group Limited BlackRock Investment Management (UK) Limited, BlackRock Advisors (UK) Limited and BIL (collectively, the Joint Boards) | ||
CLAUSEN, CHRISTIAN | DIRECTOR | Senior Advisor of BlackRock, Inc. | ||
DE FREITAS, ELEANOR JUDITH | DIRECTOR | Managing Director of BlackRock, Inc. | ||
FISHWICK, JAMES EDWARD | DIRECTOR | Managing Director of BlackRock, Inc. | ||
HANDLING, ERICA LOUISE | GENERAL COUNSEL | Managing Director of BlackRock, Inc. | ||
LORD, RACHEL | CHIEF EXECUTIVE OFFICER AND DIRECTOR | Senior Managing Director of BlackRock, Inc. | ||
MCMAHON, ENDA THOMAS | CHIEF COMPLIANCE OFFICER | Managing Director of BlackRock, Inc. | ||
MULLIN, STACEY JANE | CHIEF OPERATING OFFICER AND DIRECTOR | Managing Director of BlackRock, Inc. | ||
THOMSON, COLIN ROY | CHIEF FINANCIAL OFFICER AND DIRECTOR | Managing Director of BlackRock, Inc. | ||
YOUNG, MARGARET ANNE | DIRECTOR | Non-Executive Director of the Joint Boards |
Item 32. Principal Underwriters:
(a) |
Furnish the name of each investment company (other than the Registrant) for which each principal underwriter currently distributing the securities of the Registrant also acts as a principal underwriter, distributor or investment adviser. |
BRIL, the distributor of certain funds, acts as the principal underwriter or placement agent, as applicable, for each of the following open-end registered investment companies including certain funds of the Registrant:
BlackRock Advantage Global Fund, Inc. | BlackRock Multi-State Municipal Series Trust | |
BlackRock Advantage U.S. Total Market Fund, Inc. | BlackRock Municipal Bond Fund, Inc. | |
BlackRock Allocation Target Shares | BlackRock Municipal Series Trust | |
BlackRock Asian Dragon Fund, Inc. | BlackRock Natural Resources Trust | |
BlackRock Balanced Capital Fund, Inc. | BlackRock Series Fund, Inc. | |
BlackRock Basic Value Fund, Inc. | BlackRock Series Fund II, Inc. | |
BlackRock Bond Fund, Inc. | BlackRock Series, Inc. | |
BlackRock California Municipal Series Trust | BlackRock Strategic Global Bond Fund, Inc. | |
BlackRock Capital Appreciation Fund, Inc. | BlackRock Variable Series Funds, Inc. | |
BlackRock Emerging Markets Fund, Inc. | BlackRock Variable Series Funds II, Inc. | |
BlackRock Equity Dividend Fund | Funds For Institutions Series |
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BlackRock ETF Trust | iShares, Inc. | |
BlackRock EuroFund | iShares U.S. ETF Trust | |
BlackRock Financial Institutions Series Trust | Managed Account Series | |
BlackRock FundsSM | Managed Account Series II | |
BlackRock Funds II | Master Advantage U.S. Total Market LLC | |
BlackRock Funds III | Master Bond LLC | |
BlackRock Funds IV | Master Focus Growth LLC | |
BlackRock Funds V | Master Institutional Money Market LLC | |
BlackRock Funds VI | Master Investment Portfolio | |
BlackRock Global Allocation Fund, Inc. | Master Investment Portfolio II | |
BlackRock Index Funds, Inc. | Master Large Cap Series LLC | |
BlackRock Large Cap Focus Growth Fund, Inc. | Quantitative Master Series LLC | |
BlackRock Large Cap Series Funds, Inc. | Ready Assets Government Liquidity Fund | |
BlackRock Latin America Fund, Inc. | Retirement Series Trust | |
BlackRock Liquidity Funds | ||
BlackRock Long-Horizon Equity Fund | ||
BlackRock Mid Cap Dividend Series, Inc. |
BRIL also acts as the distributor or placement agent for the following closed-end registered investment companies:
BlackRock Credit Strategies Fund |
BlackRock Health Sciences Trust |
BlackRock MuniAssets Fund, Inc. |
BlackRock Science and Technology Trust |
BlackRock Utilities, Infrastructure & Power Opportunities Trust |
BRIL provides numerous financial services to BlackRock-advised funds and is the distributor of BlackRocks open-end funds. These services include coordinating and executing Authorized Participation Agreements, preparing, reviewing and providing advice with respect to all sales literature and responding to Financial Industry Regulatory Authority comments on marketing materials.
(b) |
Set forth below is information concerning each director and officer of BRIL. The principal business address for each such person is 55 East 52nd Street, New York, NY 10055. |
Name |
Position(s) and Office(s)
|
Position(s) and Office(s)
|
||
Abigail Reynolds | Chairman and Member, Board of Managers, and Chief Executive Officer | None | ||
Christopher J. Meade | Chief Legal Officer, General Counsel and Senior Managing Director | None | ||
Lauren Bradley | Chief Financial Officer and Vice President | None | ||
Gregory Rosta | Chief Compliance Officer and Director | None | ||
Jon Maro | Chief Operating Officer and Director | None | ||
Anne Ackerley | Member, Board of Managers, and Managing Director | None | ||
Blair Alleman | Managing Director | None | ||
Michael Bishopp | Managing Director | None | ||
Thomas Callahan | Member, Board of Managers, and Managing Director | None | ||
Samara Cohen | Managing Director | None | ||
John Diorio | Managing Director | None | ||
Lisa Hill | Managing Director | None | ||
Brendan Kyne | Managing Director | None | ||
Paul Lohrey | Managing Director | None | ||
Martin Small | Member, Board of Managers, and Managing Director | None | ||
Jonathan Steel | Managing Director | None | ||
Katrina Gil | Director | None | ||
Chris Nugent | Director | None | ||
Andrew Dickson | Director and Secretary | None | ||
Terri Slane | Director and Assistant Secretary | None | ||
Lourdes Sanchez | Vice President | None |
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Lisa Belle | Anti-Money Laundering Officer | Anti-Money Laundering Compliance Officer | ||
Zach Buchwald | Member, Board of Managers | None | ||
Gerald Pucci | Member, Board of Managers | None | ||
Philip Vasan | Member, Board of Managers | None |
(c) |
Not applicable. |
Item 33. Location of Accounts and Records:
(a) |
The Trust maintains accounts, books and other documents required by Section 31(a) of the 1940 Act and the rules thereunder (collectively, the Records) at the offices of State Street, 1 Lincoln Street, Mail Stop SFC0805, Boston, MA 02111. |
(b) |
BFA and/or its affiliates maintains all Records relating to its services as investment adviser at 400 Howard Street, San Francisco, CA 94105. |
(c) |
BRIL maintains all Records relating to its services as distributor of certain Funds at 1 University Square Drive, Princeton, NJ 08540. |
(d) |
State Street maintains all Records relating to its services as transfer agent at 1 Heritage Drive, North Quincy, MA 02171. State Street maintains all Records relating to its services as fund accountant and custodian at 1 Lincoln Street, Mail Stop SFC0805, Boston, MA 02111. |
(e) |
BlackRock International Limited maintains all Records relating to its functions as current or former sub-adviser at Exchange Place One, 1 Semple Street, Edinburgh, EH3 8BL, United Kingdom. |
Item 34. Management Services:
Not applicable.
Item 35. Undertakings:
Not applicable.
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SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, as amended, and the Investment Company Act of 1940, as amended, the Registrant certifies that it meets all the requirements for the effectiveness of this Registration Statement pursuant to Rule 485(b) under the Securities Act of 1933, as amended, and has duly caused this Post-Effective Amendment No. 2,389 to the Registration Statement to be signed on its behalf by the undersigned, duly authorized, in the City of San Francisco and the State of California on the 24th day of July, 2020.
iSHARES TRUST | ||||
By: |
|
|||
Armando Senra* | ||||
President | ||||
Date: | July 24, 2020 |
Pursuant to the requirements of the Securities Act of 1933, as amended, this Post-Effective Amendment No. 2,389 to the Registration Statement has been signed below by the following persons in the capacities and on the date indicated.
By: |
|
|||
Salim Ramji* | ||||
Trustee | ||||
Date: | July 24, 2020 | |||
|
||||
John E. Martinez* | ||||
Trustee | ||||
Date: | July 24, 2020 | |||
|
||||
Cecilia H. Herbert* | ||||
Trustee | ||||
Date: | July 24, 2020 | |||
|
||||
John E. Kerrigan* | ||||
Trustee | ||||
Date: | July 24, 2020 | |||
|
||||
Robert S. Kapito* | ||||
Trustee | ||||
Date: | July 24, 2020 |
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|
||||
Madhav V. Rajan* | ||||
Trustee | ||||
Date: | July 24, 2020 | |||
|
||||
Jane D. Carlin* | ||||
Trustee | ||||
Date: | July 24, 2020 | |||
|
||||
Drew E. Lawton* | ||||
Trustee | ||||
Date: | July 24, 2020 | |||
|
||||
Richard L. Fagnani* | ||||
Trustee | ||||
Date: | July 24, 2020 | |||
/s/ Trent W. Walker |
||||
Trent W. Walker* | ||||
Treasurer and Chief Financial Officer | ||||
Date: | July 24, 2020 |
/s/ Trent W. Walker |
||
* | By: Trent W. Walker | |
Attorney-in-fact | ||
Date: | July 24, 2020 |
* |
- 13 -
Exhibit Index
(d.2) | Schedule A to the Investment Advisory Agreement between the Trust and BFA. | |
(i) | Legal Opinion and Consent of Richards, Layton & Finger, P.A. | |
(j) | Consent of PricewaterhouseCoopers LLP. |
- 14 -
Exhibit (d.2)
Schedule A
to the
Investment Advisory Agreement dated December 1, 2009
between
iShares Trust
and
BlackRock Fund Advisors
Pursuant to Section 6, the Trust shall pay the Adviser compensation at the following annual rates:
Fund |
Annual Fee | |||
iShares 0-3 Month Treasury Bond ETF |
0.12 | % | ||
iShares 0-5 Year High Yield Corporate Bond ETF |
0.30 | % | ||
iShares 0-5 Year Investment Grade Corporate Bond ETF |
0.06 | % | ||
iShares 0-5 Year TIPS Bond ETF |
0.06 | % | ||
iShares 1-3 Year International Treasury Bond ETF |
0.35 | % | ||
iShares 1-3 Year Treasury Bond ETF |
0.15 | % | ||
iShares 3-7 Year Treasury Bond ETF |
0.15 | % | ||
iShares 7-10 Year Treasury Bond ETF |
0.15 | % | ||
iShares 10-20 Year Treasury Bond ETF |
0.15 | % | ||
iShares 20+ Year Treasury Bond ETF |
0.15 | % | ||
iShares Aaa - A Rated Corporate Bond ETF |
0.15 | % | ||
iShares Adaptive Currency Hedged MSCI EAFE ETF |
0.38 | % | ||
iShares Agency Bond ETF |
0.20 | % | ||
iShares Asia 50 ETF |
0.50 | % | ||
iShares Broad USD High Yield Corporate Bond ETF |
0.22 | % | ||
iShares Broad USD Investment Grade Corporate Bond ETF |
0.06 | % | ||
iShares California Muni Bond ETF |
0.25 | % | ||
iShares CMBS ETF |
0.25 | % | ||
iShares Convertible Bond ETF |
0.20 | % | ||
iShares Core 1-5 Year USD Bond ETF |
0.06 | % | ||
iShares Core 5-10 Year USD Bond ETF |
0.06 | % | ||
iShares Core 10+ Year USD Bond ETF |
0.06 | % | ||
iShares Core Aggressive Allocation ETF |
0.25 | % | ||
iShares Core Conservative Allocation ETF |
0.25 | % | ||
iShares Core Dividend Growth ETF |
0.08 | % | ||
iShares Core Growth Allocation ETF |
0.25 | % | ||
iShares Core High Dividend ETF |
0.08 | % | ||
iShares Core International Aggregate Bond ETF |
0.09 | % | ||
iShares Core Moderate Allocation ETF |
0.25 | % | ||
iShares Core MSCI EAFE ETF |
0.07 | % | ||
iShares Core MSCI Europe ETF |
0.09 | % | ||
iShares Core MSCI International Developed Markets ETF |
0.05 | % | ||
iShares Core MSCI Pacific ETF |
0.09 | % | ||
iShares Core MSCI Total International Stock ETF |
0.09 | % | ||
iShares Core S&P 500 ETF |
0.03 | % | ||
iShares Core S&P Mid-Cap ETF |
0.05 | % | ||
iShares Core S&P Small-Cap ETF |
0.06 | % | ||
iShares Core S&P Total U.S. Stock Market ETF |
0.03 | % | ||
iShares Core S&P U.S. Growth ETF |
0.04 | % | ||
iShares Core S&P U.S. Value ETF |
0.04 | % | ||
iShares Core Total USD Bond Market ETF |
0.06 | % |
iShares Core U.S. Aggregate Bond ETF |
0.04 | % | ||
iShares Core U.S. REIT ETF |
0.08 | % | ||
iShares Currency Hedged JPX-Nikkei 400 ETF |
0.59 | % | ||
iShares Currency Hedged MSCI ACWI ex U.S. ETF |
0.38 | % | ||
iShares Currency Hedged MSCI Australia ETF |
0.62 | % | ||
iShares Currency Hedged MSCI Canada ETF |
0.62 | % | ||
iShares Currency Hedged MSCI EAFE ETF |
0.38 | % | ||
iShares Currency Hedged MSCI EAFE Small-Cap ETF |
0.43 | % | ||
iShares Currency Hedged MSCI Eurozone ETF |
0.62 | % | ||
iShares Currency Hedged MSCI Germany ETF |
0.53 | % | ||
iShares Currency Hedged MSCI Italy ETF |
0.62 | % | ||
iShares Currency Hedged MSCI Japan ETF |
0.53 | % | ||
iShares Currency Hedged MSCI Mexico ETF |
0.62 | % | ||
iShares Currency Hedged MSCI South Korea ETF |
0.77 | % | ||
iShares Currency Hedged MSCI Spain ETF |
0.62 | % | ||
iShares Currency Hedged MSCI Switzerland ETF |
0.62 | % | ||
iShares Currency Hedged MSCI United Kingdom ETF |
0.62 | % | ||
iShares Cybersecurity and Tech ETF |
0.47 | % | ||
iShares Dow Jones U.S. ETF |
0.20 | % | ||
iShares Edge High Yield Defensive Bond ETF |
0.35 | % | ||
iShares Edge Investment Grade Enhanced Bond ETF |
0.18 | % | ||
iShares Edge MSCI Intl Momentum Factor ETF |
0.30 | % | ||
iShares Edge MSCI Intl Quality Factor ETF |
0.30 | % | ||
iShares Edge MSCI Intl Size Factor ETF |
0.30 | % | ||
iShares Edge MSCI Intl Value Factor ETF |
0.30 | % | ||
iShares Edge MSCI Min Vol Europe ETF |
0.25 | % | ||
iShares Edge MSCI Min Vol Japan ETF |
0.30 | % | ||
iShares Edge MSCI Min Vol USA ETF |
0.15 | % | ||
iShares Edge MSCI Min Vol USA Small-Cap ETF |
0.20 | % | ||
iShares Edge MSCI Multifactor Global ETF |
0.35 | % | ||
iShares Edge MSCI Multifactor Intl ETF |
0.30 | % | ||
iShares Edge MSCI Multifactor Intl Small-Cap ETF |
0.40 | % | ||
iShares Edge MSCI Multifactor USA ETF |
0.20 | % | ||
iShares Edge MSCI Multifactor USA Mid-Cap ETF |
0.25 | % | ||
iShares Edge MSCI Multifactor USA Small-Cap ETF |
0.30 | % | ||
iShares Edge MSCI USA Momentum Factor ETF |
0.15 | % | ||
iShares Edge MSCI USA Quality Factor ETF |
0.15 | % | ||
iShares Edge MSCI USA Size Factor ETF |
0.15 | % | ||
iShares Edge MSCI USA Value Factor ETF |
0.15 | % | ||
iShares Edge U.S. Fixed Income Balanced Risk ETF |
0.25 | % | ||
iShares Emerging Markets Infrastructure ETF |
0.60 | % | ||
iShares ESG Aware 1-5 Year USD Corporate Bond ETF |
0.12 | % | ||
iShares ESG Advanced MSCI EAFE ETF |
0.12 | % | ||
iShares ESG Advanced MSCI EM ETF |
0.16 | % | ||
iShares ESG Advanced MSCI USA ETF |
0.10 | % | ||
iShares ESG Advanced Total USD Bond Market ETF |
0.12 | % | ||
iShares ESG Aware Aggressive Allocation ETF |
0.18 | % | ||
iShares ESG Aware Conservative Allocation ETF |
0.18 | % | ||
iShares ESG Aware Growth Allocation ETF |
0.18 | % | ||
iShares ESG Aware Moderate Allocation ETF |
0.18 | % | ||
iShares ESG MSCI EAFE ETF |
0.20 | % | ||
iShares ESG MSCI EM Leaders ETF |
0.16 | % |
iShares ESG MSCI USA ETF |
0.15 | % | ||
iShares ESG MSCI USA Leaders ETF |
0.10 | % | ||
iShares ESG MSCI USA Small-Cap ETF |
0.17 | % | ||
iShares ESG Aware U.S. Aggregate Bond ETF |
0.10 | % | ||
iShares ESG Aware USD Corporate Bond ETF |
0.18 | % | ||
iShares Europe Developed Real Estate ETF |
0.48 | % | ||
iShares Factors US Blend Style ETF |
0.25 | % | ||
iShares Factors US Growth Style ETF |
0.25 | % | ||
iShares Factors US Mid Blend Style ETF |
0.30 | % | ||
iShares Factors US Small Blend Style ETF |
0.35 | % | ||
iShares Factors US Value Style ETF |
0.25 | % | ||
iShares Fallen Angels USD Bond ETF |
0.25 | % | ||
iShares Floating Rate Bond ETF |
0.20 | % | ||
iShares Focused Value Factor ETF |
0.25 | % | ||
iShares Genomics Immunology and Healthcare ETF |
0.47 | % | ||
iShares Global 100 ETF |
0.40 | % | ||
iShares Global Green Bond ETF |
0.25 | % | ||
iShares Global REIT ETF |
0.14 | % | ||
iShares GNMA Bond ETF |
0.15 | % | ||
iShares Government/Credit Bond ETF |
0.20 | % | ||
iShares iBonds 2021 Term High Yield and Income ETF |
0.35 | % | ||
iShares iBonds 2022 Term High Yield and Income ETF |
0.35 | % | ||
iShares iBonds 2023 Term High Yield and Income ETF |
0.35 | % | ||
iShares iBonds 2024 Term High Yield and Income ETF |
0.35 | % | ||
iShares iBonds 2025 Term High Yield and Income ETF |
0.35 | % | ||
iShares iBonds Dec 2020 Term Corporate ETF |
0.10 | % | ||
iShares iBonds Dec 2021 Term Corporate ETF |
0.10 | % | ||
iShares iBonds Dec 2021 Term Muni Bond ETF |
0.18 | % | ||
iShares iBonds Dec 2021 Term Treasury ETF |
0.07 | % | ||
iShares iBonds Dec 2022 Term Corporate ETF |
0.10 | % | ||
iShares iBonds Dec 2022 Term Muni Bond ETF |
0.18 | % | ||
iShares iBonds Dec 2022 Term Treasury ETF |
0.07 | % | ||
iShares iBonds Dec 2023 Term Corporate ETF |
0.10 | % | ||
iShares iBonds Dec 2023 Term Muni Bond ETF |
0.18 | % | ||
iShares iBonds Dec 2023 Term Treasury ETF |
0.07 | % | ||
iShares iBonds Dec 2024 Term Corporate ETF |
0.10 | % | ||
iShares iBonds Dec 2024 Term Muni Bond ETF |
0.18 | % | ||
iShares iBonds Dec 2024 Term Treasury ETF |
0.07 | % | ||
iShares iBonds Dec 2025 Term Corporate ETF |
0.10 | % | ||
iShares iBonds Dec 2025 Term Muni Bond ETF |
0.18 | % | ||
iShares iBonds Dec 2025 Term Treasury ETF |
0.07 | % | ||
iShares iBonds Dec 2026 Term Corporate ETF |
0.10 | % | ||
iShares iBonds Dec 2026 Term Muni Bond ETF |
0.18 | % | ||
iShares iBonds Dec 2026 Term Treasury ETF |
0.07 | % | ||
iShares iBonds Dec 2027 Term Corporate ETF |
0.10 | % | ||
iShares iBonds Dec 2027 Term Muni Bond ETF |
0.18 | % | ||
iShares iBonds Dec 2027 Term Treasury ETF |
0.07 | % | ||
iShares iBonds Dec 2028 Term Corporate ETF |
0.10 | % | ||
iShares iBonds Dec 2028 Term Muni Bond ETF |
0.18 | % | ||
iShares iBonds Dec 2028 Term Treasury ETF |
0.07 | % | ||
iShares iBonds Dec 2029 Term Corporate ETF |
0.10 | % | ||
iShares iBonds Dec 2029 Term Treasury ETF |
0.07 | % |
iShares iBonds Dec 2030 Term Corporate ETF |
0.10 | % | ||
iShares iBonds Dec 2030 Term Treasury ETF |
0.07 | % | ||
iShares iBonds Mar 2023 Term Corporate ETF |
0.10 | % | ||
iShares iBonds Mar 2023 Term Corporate ex-Financials ETF |
0.10 | % | ||
iShares iBonds Sep 2020 Term Muni Bond ETF |
0.18 | % | ||
iShares iBoxx $ High Yield ex Oil & Gas Corporate Bond ETF |
0.50 | % | ||
iShares India 50 ETF |
0.89 | % | ||
iShares Intermediate Government/Credit Bond ETF |
0.20 | % | ||
iShares International Developed Property ETF |
0.48 | % | ||
iShares International Developed Real Estate ETF |
0.48 | % | ||
iShares International Dividend Growth ETF |
0.22 | % | ||
iShares International Preferred Stock ETF |
0.55 | % | ||
iShares International Treasury Bond ETF |
0.35 | % | ||
iShares JPX-Nikkei 400 ETF |
0.48 | % | ||
iShares Micro-Cap ETF |
0.60 | % | ||
iShares Morningstar Large-Cap ETF |
0.20 | % | ||
iShares Morningstar Large-Cap Growth ETF |
0.25 | % | ||
iShares Morningstar Large-Cap Value ETF |
0.25 | % | ||
iShares Morningstar Mid-Cap ETF |
0.25 | % | ||
iShares Morningstar Mid-Cap Growth ETF |
0.30 | % | ||
iShares Morningstar Mid-Cap Value ETF |
0.30 | % | ||
iShares Morningstar Multi-Asset Income ETF |
0.25 | % | ||
iShares Morningstar Small-Cap ETF |
0.25 | % | ||
iShares Morningstar Small-Cap Growth ETF |
0.30 | % | ||
iShares Morningstar Small-Cap Value ETF |
0.30 | % | ||
iShares Mortgage Real Estate ETF |
0.48 | % | ||
iShares MSCI ACWI Low Carbon Target ETF |
0.20 | % | ||
iShares MSCI Argentina and Global Exposure ETF |
0.59 | % | ||
iShares MSCI China A ETF |
0.60 | % | ||
iShares MSCI Denmark ETF |
0.53 | % | ||
iShares MSCI Europe Financials ETF |
0.48 | % | ||
iShares MSCI Europe Small-Cap ETF |
0.40 | % | ||
iShares MSCI Finland ETF |
0.53 | % | ||
iShares MSCI Germany Small-Cap ETF |
0.59 | % | ||
iShares MSCI Global Impact ETF |
0.49 | % | ||
iShares MSCI India Small-Cap ETF |
0.74 | % | ||
iShares MSCI Japan Equal Weighted ETF |
0.15 | % | ||
iShares MSCI Japan Value ETF |
0.15 | % | ||
iShares MSCI KLD 400 Social ETF |
0.25 | % | ||
iShares MSCI Kokusai ETF |
0.25 | % | ||
iShares MSCI Kuwait ETF |
0.74 | % | ||
iShares MSCI Norway ETF |
0.53 | % | ||
iShares MSCI Saudi Arabia ETF |
0.74 | % | ||
iShares MSCI United Kingdom Small-Cap ETF |
0.59 | % | ||
iShares MSCI USA ESG Select ETF |
0.25 | % | ||
iShares National Muni Bond ETF |
0.07 | % | ||
iShares New York Muni Bond ETF |
0.25 | % | ||
iShares Residential Real Estate ETF |
0.48 | % | ||
iShares Robotics and Artificial Intelligence Multisector ETF |
0.47 | % | ||
iShares Russell 1000 ETF |
0.15 | % | ||
iShares Russell 1000 Pure U.S. Revenue ETF |
0.15 | % |
iShares Russell 2500 ETF |
0.15 | % | ||
iShares Russell 3000 ETF |
0.20 | % | ||
iShares Russell Top 200 ETF |
0.15 | % | ||
iShares Russell Top 200 Growth ETF |
0.20 | % | ||
iShares Russell Top 200 Value ETF |
0.20 | % | ||
iShares S&P 100 ETF |
0.20 | % | ||
iShares S&P 500 Growth ETF |
0.18 | % | ||
iShares S&P 500 Value ETF |
0.18 | % | ||
iShares Self-Driving EV and Tech ETF |
0.47 | % | ||
iShares Short-Term National Muni Bond ETF |
0.07 | % | ||
iShares Short Treasury Bond ETF |
0.15 | % | ||
iShares Treasury Floating Rate Bond ETF |
0.15 | % | ||
iShares U.S. Dividend and Buyback ETF |
0.25 | % | ||
iShares U.S. Infrastructure ETF |
0.40 | % | ||
iShares U.S. Tech Breakthrough Multisector ETF |
0.40 | % | ||
iShares U.S. Treasury Bond ETF |
0.15 | % | ||
iShares Yield Optimized Bond ETF |
0.28 | % |
Advisory Fee for iShares (S&P Global Sectors) Funds:
iShares Expanded Tech Sector ETF iShares Expanded Tech-Software Sector ETF iShares Global Clean Energy ETF iShares Global Comm Services ETF iShares Global Consumer Discretionary ETF iShares Global Consumer Staples ETF iShares Global Energy ETF iShares Global Financials ETF iShares Global Healthcare ETF iShares Global Industrials ETF iShares Global Infrastructure ETF iShares Global Materials ETF iShares Global Tech ETF iShares Global Timber & Forestry ETF iShares Global Utilities ETF iShares North American Natural Resources ETF iShares North American Tech-Multimedia Networking ETF iShares PHLX Semiconductor ETF |
0.48% per annum of the aggregate net assets less than or equal to $10.0 billion plus 0.43% per annum of the aggregate net assets over $10.0 billion, up to and including $20.0 billion plus 0.38% per annum of the aggregate net assets in over $20.0 billion, up to and including $30.0 billion, plus 0.342% per annum of the aggregate net assets in excess of $30.0 billion |
Advisory Fee for iShares China Large-Cap ETF (Group VII) iShares China Large-Cap ETF |
0.74% per annum of net assets less than or equal to $6.0 billion plus 0.67% per annum of net assets over $6.0 billion, up to and including $9.0 billion plus 0.60% per annum of net assets over $9.0 billion, up to and including $12.0 billion plus 0.54% per annum of net assets in excess of $12.0 billion |
Advisory Fee for iShares Group VIII (Dow Jones Sector) Funds: |
iShares Transportation Average ETF |
iShares U.S. Aerospace & Defense ETF |
iShares U.S. Basic Materials ETF |
iShares U.S. Broker-Dealers & Securities Exchanges ETF |
iShares U.S. Consumer Goods ETF |
iShares U.S. Consumer Services ETF |
iShares U.S. Energy ETF |
iShares U.S. Financial Services ETF |
iShares U.S. Financials ETF |
iShares U.S. Healthcare ETF |
iShares U.S. Healthcare Providers ETF |
iShares U.S. Home Construction ETF |
iShares U.S. Industrials ETF |
iShares U.S. Insurance ETF |
iShares U.S. Medical Devices ETF |
iShares U.S. Oil & Gas Exploration & Production ETF |
iShares U.S. Oil Equipment & Services ETF |
iShares U.S. Pharmaceuticals ETF |
iShares U.S. Real Estate ETF |
iShares U.S. Regional Banks ETF |
iShares U.S. Technology ETF |
iShares U.S. Telecommunications ETF |
iShares U.S. Utilities ETF |
0.48% per annum of the aggregate net assets less than or equal to $10.0 billion plus 0.43% per annum of the aggregate net assets over $10.0 billion, up to and including $20.0 billion plus 0.38% per annum of the aggregate net assets over $20.0 billion, up to and including $30.0 billion plus 0.34% per annum of the aggregate net assets over $30.0 billion, up to and including $40.0 billion plus 0.33% per annum of the aggregate net assets over $40.0 billion, up to and including $50.0 billion plus 0.31% per annum of the aggregate net assets in excess of $50.0 billion |
Advisory Fee for iShares S&P Mid-Cap 400 Value ETF
iShares S&P Mid-Cap 400 Value ETF
0.25% per annum of net assets less than or equal to $5.0 billion
plus 0.24% per annum of net assets over $5.0 billion, up to and including $7.5 billion
plus 0.23% per annum of net assets over $7.5 billion, up to and including $10.0 billion
plus 0.21% per annum of net assets in excess of $10.0 billion
Advisory Fee for iShares MSCI EAFE Value ETF
iShares MSCI EAFE Value ETF
0.4000% per annum of net assets less than or equal to $3.0 billion
plus 0.3800% per annum of net assets over $3.0 billion, up to and including $4.5 billion
plus 0.3610% per annum of net assets over $4.5 billion, up to and including $6.0 billion
plus 0.3430% per annum of net assets over $6.0 billion, up to and including $7.5 billion
plus 0.3258% per annum of net assets over $7.5 billion, up to and including $9.0 billion
plus 0.3096% per annum of net assets in excess of $9.0 billion
Advisory Fee for iShares MSCI EAFE Growth ETF
iShares MSCI EAFE Growth ETF
0.4000% per annum of net assets less than or equal to $3.0 billion
plus 0.3800% per annum of net assets over $3.0 billion, up to and including $4.5 billion
plus 0.3610% per annum of net assets over $4.5 billion, up to and including $6.0 billion
plus 0.3430% per annum of net assets over $6.0 billion, up to and including $7.5 billion
plus 0.3258% per annum of net assets in excess of $7.5 billion
Advisory Fee for iShares MSCI India ETF
iShares MSCI India ETF
0.6500% per annum of net assets less than or equal to $4.0 billion
plus 0.6175% per annum of net assets over $4.0 billion, up to and including $6.0 billion
plus 0.5867% per annum of net assets over $6.0 billion, up to and including $8.0 billion
plus 0.5573% per annum of net assets in excess of $8.0 billion
Advisory Fee for iShares S&P Small-Cap 600 Growth ETF
iShares S&P Small-Cap 600 Growth ETF
0.2500% per annum of net assets less than or equal to $5 billion
plus 0.2375% per annum of net assets over $5 billion, up to and including $7.5 billion
plus 0.2256% per annum of net assets in excess of $7.5 billion
Advisory Fee for iShares S&P Small-Cap 600 Value ETF
iShares S&P Small-Cap 600 Value ETF
0.2500% per annum of net assets less than or equal to $5 billion
plus 0.2375% per annum of net assets over $5 billion, up to and including $7.5 billion
plus 0.2256% per annum of net assets in excess of $7.5 billion
Advisory Fee for iShares Exponential Technologies ETF
iShares Exponential Technologies ETF
0.4700% per annum of net assets less than or equal to $2 billion
plus 0.4465% per annum of net assets over $2 billion, up to and including $3 billion
plus 0.4242% per annum of net assets in excess of $3 billion
Advisory Fee for iShares Category VI (MSCI International/Global Multi Country) Funds:
iShares Edge MSCI Min Vol EAFE ETF iShares Edge MSCI Min Vol Global ETF* iShares MSCI ACWI ETF iShares MSCI ACWI ex U.S. ETF iShares MSCI EAFE ETF
0.3500% per annum of the aggregate net assets less than or equal to $30.0 billion plus 0.3200% per annum of the aggregate net assets over $30.0 billion, up to and including $60.0 billion plus 0.2800% per annum of the aggregate net assets over $60.0 billion, up to and including $90.0 billion plus 0.2520% per annum of the aggregate net assets over $90.0 billion, up to and including $120.0 billion plus 0.2270% per annum of the aggregate net assets over $120.0 billion, up to and including $150.0 billion plus 0.2040% per annum of the aggregate net assets in excess of $150.0 billion |
Advisory Fee for Category I (MSCI Developed Markets Single Country) Funds:
iShares MSCI Australia ETF*
iShares MSCI Austria ETF*
iShares MSCI Belgium ETF* iShares MSCI Canada ETF* iShares MSCI Eurozone ETF* iShares MSCI France ETF* iShares MSCI Germany ETF* iShares MSCI Hong Kong ETF* iShares MSCI Ireland ETF iShares MSCI Italy ETF* iShares MSCI Japan ETF* iShares MSCI Japan Small-Cap ETF* iShares MSCI Malaysia ETF* iShares MSCI Mexico ETF* iShares MSCI Netherlands ETF* iShares MSCI New Zealand ETF iShares MSCI Singapore ETF* iShares MSCI Spain ETF* iShares MSCI Sweden ETF* iShares MSCI Switzerland ETF* iShares MSCI United Kingdom ETF |
0.59% per annum of the aggregate net assets of the Category I Funds less than or equal to $7.0 billion plus 0.54% per annum of the aggregate net assets of the Category I Funds over $7.0 billion, up to and including $11.0 billion plus 0.49% per annum of the aggregate net assets of the Category I Funds over $11.0 billion, up to and including $24.0 billion plus 0.44% per annum of the aggregate net assets of the Category I Funds over $24.0 billion, up to and including $48.0 billion plus 0.40% per annum of the aggregate net assets of the Category I Funds over $48.0 billion, up to and including $72.0 billion plus 0.36% per annum of the aggregate net assets of the Category I Funds over $72.0 billion, up to and including $96.0 billion plus 0.32% per annum of the aggregate net assets of the Category I Funds in excess of $96.0 billion |
Advisory Fee for Category II (MSCI Emerging Markets Single Country) Funds:
iShares MSCI Brazil ETF* iShares MSCI Brazil Small-Cap ETF iShares MSCI Chile ETF* iShares MSCI China ETF iShares MSCI China Small-Cap ETF iShares MSCI Indonesia ETF iShares MSCI Israel ETF* iShares MSCI Peru ETF iShares MSCI Philippines ETF iShares MSCI Poland ETF iShares MSCI Qatar ETF iShares MSCI Russia ETF* iShares MSCI South Africa ETF* iShares MSCI South Korea ETF* iShares MSCI Taiwan ETF* iShares MSCI Thailand ETF* iShares MSCI Turkey ETF* iShares MSCI UAE ETF |
0.74% per annum of the aggregate net assets of the Category II Funds less than or equal to $2.0 billion
plus 0.69% per annum of the aggregate net assets of the Category II Funds over $2.0 billion, up to and including $4.0 billion
plus 0.64% per annum of the aggregate net assets of the Category II Funds over $4.0 billion, up to and including $8.0 billion plus 0.57% per annum of the aggregate net assets of the Category II Funds over $8.0 billion, up to and including $16.0 billion plus 0.51% per annum of the aggregate net assets of the Category II Funds over $16.0 billion, up to and including $24.0 billion plus 0.48% per annum of the aggregate net assets of the Category II Funds over $24.0 billion, up to and including $32.0 billion plus 0.45% per annum of the aggregate net assets of the Category II Funds in excess of $32.0 billion |
Advisory Fee for Category IV (MSCI Emerging Markets Multi Country) Funds:
iShares Edge MSCI Min Vol Emerging Markets ETF* iShares MSCI All Country Asia ex Japan ETF iShares MSCI BRIC ETF* iShares MSCI Emerging Markets ETF* iShares MSCI Emerging Markets Small-Cap ETF* |
0.75% per annum of the aggregate net assets of the Category IV Funds less than or equal to $14.0 billion plus 0.68% per annum of the aggregate net assets of the Category IV Funds over $14.0 billion, up to and including $28.0 billion plus 0.61% per annum of the aggregate net assets of the Category IV Funds over $28.0 billion, up to and including $42.0 billion plus 0.54% per annum of the aggregate net assets of the Category IV Funds over $42.0 billion, up to and including $56.0 billion plus 0.47% per annum of the aggregate net assets of the Category IV Funds over $56.0 billion, up to and including $70.0 billion plus 0.41% per annum of the aggregate net assets of the Category IV Funds over $70.0 billion, up to and including $84.0 billion plus 0.35% per annum of the aggregate net assets of the Category IV Funds in excess of $84.0 billion |
Advisory Fee for Group X (2012 Equity) Funds:
First
$46 billion |
Greater than
$46 billion Up to $81 billion |
Greater than
$81 billion Up to $111 billion |
Greater than
$111 billion Up to $141 billion |
Greater than
$141 billion |
||||||
iShares Latin America 40 ETF |
0.5000% | 0.4750% | 0.4513% | 0.4287% | 0.4073% | |||||
iShares MSCI Pacific ex Japan ETF* |
0.5000% | 0.4750% | 0.4513% | 0.4287% | 0.4073% | |||||
iShares Preferred and Income Securities ETF |
0.4800% | 0.4560% | 0.4332% | 0.4116% | 0.3910% | |||||
iShares Russell 2000 ETF |
0.2000% | 0.1900% | 0.1805% | 0.1715% | 0.1630% | |||||
iShares Russell 2000 Growth ETF |
0.2500% | 0.2375% | 0.2257% | 0.2144% | 0.2037% | |||||
iShares Russell 2000 Value ETF |
0.2500% | 0.2375% | 0.2257% | 0.2144% | 0.2037% | |||||
iShares Select Dividend ETF |
0.4000% | 0.3800% | 0.3610% | 0.3430% | 0.3259% |
Advisory Fee for Group XI (2012 Fixed Income) Funds:
First
$19 billion |
Greater than
$19 billion Up to $33 billion |
Greater than
$33 billion Up to $47 billion |
Greater than
$47 billion |
|||||
iShares iBoxx $ High Yield Corporate Bond ETF |
0.5000% | 0.4750% | 0.4513% | 0.4287% | ||||
iShares J.P. Morgan USD Emerging Markets Bond ETF |
0.4000% | 0.3800% | 0.3610% | 0.3430% |
Advisory Fee for Group XII (2013) Funds
First
$121 billion |
Greater than
$121 billion Up to $181 billion |
Greater than
$181 billion Up to $231 billion |
Greater than
$231 billion Up to $281 billion |
Greater
than $281 billion |
||||||
iShares Cohen & Steers REIT ETF |
0.3500% | 0.3325% | 0.3159% | 0.3001% | 0.2851% | |||||
iShares iBoxx $ Investment Grade Corporate Bond ETF |
0.1500% | 0.1425% | 0.1354% | 0.1287% | 0.1222% | |||||
iShares Intermediate-Term Corporate Bond ETF |
0.0600% | 0.0570% | 0.0542% | 0.0515% | 0.0489% | |||||
iShares Long-Term Corporate Bond ETF |
0.0600% | 0.0570% | 0.0542% | 0.0515% | 0.0489% | |||||
iShares MBS ETF |
0.0600% | 0.0570% | 0.0542% | 0.0515% | 0.0489% | |||||
iShares Nasdaq Biotechnology ETF |
0.4800% | 0.4560% | 0.4332% | 0.4116% | 0.3910% | |||||
iShares Russell 1000 Growth ETF |
0.2000% | 0.1900% | 0.1805% | 0.1715% | 0.1630% | |||||
iShares Russell 1000 Value ETF |
0.2000% | 0.1900% | 0.1805% | 0.1715% | 0.1630% | |||||
iShares Russell Mid-Cap ETF |
0.2000% | 0.1900% | 0.1805% | 0.1715% | 0.1630% | |||||
iShares Russell Mid-Cap Growth ETF |
0.2500% | 0.2375% | 0.2257% | 0.2144% | 0.2037% | |||||
iShares Russell Mid-Cap Value ETF |
0.2500% | 0.2375% | 0.2257% | 0.2144% | 0.2037% | |||||
iShares S&P Mid-Cap 400 Growth ETF |
0.2500% | 0.2375% | 0.2257% | 0.2144% | 0.2037% | |||||
iShares Short-Term Corporate Bond ETF |
0.0600% | 0.0570% | 0.0542% | 0.0515% | 0.0489% | |||||
iShares TIPS Bond ETF |
0.2000% | 0.1900% | 0.1805% | 0.1715% | 0.1630% |
Advisory Fee for Group XIII (2014) Funds
First
$12 billion |
Greater than
$12 billion Up to $18 billion |
Greater than
$18 billion Up to $24 billion |
Greater than
$24 billion Up to $30 billion |
Greater
than $30 billion |
||||||
iShares Europe ETF |
0.6000% | 0.5700% | 0.5415% | 0.5145% | 0.4888% | |||||
iShares International Select Dividend ETF |
0.5000% | 0.4750% | 0.4513% | 0.4287% | 0.4073% | |||||
iShares MSCI EAFE Small-Cap ETF |
0.4000% | 0.3800% | 0.3610% | 0.3430% | 0.3259% |
* This Fund is a fund of iShares, Inc. |
Amended and Approved by the Board of Trustees of iShares Trust on June 8-10, 2020.
July 24, 2020
iShares Trust
c/o BlackRock Fund Advisors
400 Howard Street
San Francisco, CA 94105
Re: |
iShares Trust Funds Identified on Exhibit A |
Ladies and Gentlemen:
We have acted as special Delaware counsel for iShares Trust, a Delaware statutory trust (the Trust), in connection with the matters set forth herein. At your request, this opinion is being furnished to you.
For purposes of giving the opinions hereinafter set forth, our examination of documents has been limited to the examination of originals or copies of the following:
(a) |
The Certificate of Trust of the Trust, as filed with the office of the Secretary of State of the State of Delaware (the Secretary of State) on December 16, 1999, as amended and restated by the Restated Certificate of Trust of the Trust (as amended and restated, the Certificate of Trust), as filed with the Secretary of State on September 15, 2006; |
(b) |
The Agreement and Declaration of Trust, dated December 16, 1999, made by the trustee named therein, as amended and restated by the Agreement and Declaration of Trust, dated September 13, 2006, made by the trustees named therein, as further amended and restated by the Amended and Restated Agreement and Declaration of Trust, dated September 24, 2008, made by the trustees named therein, as further amended and restated by the Amended and Restated Agreement and Declaration of Trust, dated September 17, 2009 (as amended and restated on such date, the Trust Instrument), made by the trustees named therein; |
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(c) |
Post-Effective Amendment No. 2,389 (the Amendment), to be filed with the U.S. Securities and Exchange Commission (the SEC) on or about the date hereof, to the Trusts Registration Statement on Form N-1A (File Nos. 333-92935 and 811-09729), filed with the SEC on December 16, 1999 (as amended by the Amendment, the Registration Statement); |
(d) |
The Amended and Restated By-Laws of the Trust (the By-Laws), as approved by the Board of Trustees of the Trust (the Board) on April 22, 2005, as further amended and restated by the Amended and Restated By-Laws of the Trust, as approved by the Board on December 8, 2006, as further amended and restated by the Amended and Restated By-Laws of the Trust, as approved by the Board on August 13, 2009, as further amended and restated by the Amended and Restated By-Laws of the Trust in effect on the date hereof as approved by the Board on April 20, 2010 (as amended and restated on such date, the By-laws); |
(e) |
The Policy and Procedures Regarding the Naming of iShares Funds delegating naming determinations for series of the Trust to BlackRock Fund Advisors and its affiliated investment advisors; |
(f) |
Copies of certain resolutions adopted by the Board with respect to the creation of certain series of the Trust (each, a Fund as identified on Exhibit A attached hereto) and the issuance of certain shares of beneficial interest in such Fund (each, a Share, and collectively, the Shares); |
(g) |
A certificate of an officer of the Trust, dated as of July 26, 2019, relating to the filing of Post-Effective Amendment No. 2,159 with the SEC; |
(h) |
A certificate of an officer of the Trust (the Officers Certificate) with respect to certain matters, dated July 24, 2020; and |
(i) |
A Certificate of Good Standing for the Trust, dated July 23, 2020, obtained from the Secretary of State. |
Initially capitalized terms used herein and not otherwise defined are used as defined in the Trust Instrument. The resolutions identified in paragraph (f) and in the officers certificate described in (g) and (h) above are collectively referred to herein as the Resolutions.
For purposes of this opinion, we have not reviewed any documents other than the documents listed in paragraphs (a) through (i) above. In particular, we have not reviewed any document (other than the documents listed in paragraphs (a) through (i) above) that is referred to in or incorporated by reference into the documents reviewed by us. We have assumed that there exists no provision in any document that we have not reviewed that is inconsistent with the
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opinions stated herein. We have conducted no independent factual investigation of our own but rather have relied solely upon the foregoing documents, the statements and information set forth therein and the additional matters recited or assumed herein, all of which we have assumed to be true, complete and accurate in all material respects.
With respect to all documents examined by us, we have assumed (i) the authenticity of all documents submitted to us as authentic originals, (ii) the conformity with the originals of all documents submitted to us as copies or forms, and (iii) the genuineness of all signatures.
For purposes of this opinion, we have assumed (i) that the Trust Instrument and the By-Laws constitute the entire agreement among the parties thereto with respect to the subject matter thereof, including with respect to the creation, operation and termination of the Trust, and that the Trust Instrument, the By-laws and the Certificate of Trust are in full force and effect and will not be amended, (ii) except to the extent provided in paragraph 1 below, the due organization or due formation, as the case may be, and valid existence in good standing of each party to the documents examined by us under the laws of the jurisdiction governing its organization or formation, (iii) the legal capacity of natural persons who are parties to the documents examined by us, (iv) that each of the parties (other than the Trust) to the documents examined by us has the power and authority to execute and deliver, and to perform its obligations under, such documents, (v) the due authorization, execution and delivery by all parties thereto of all documents examined by us, (vi) the payment by each Person to whom a Share has been or is to be issued by the Trust (collectively, the Shareholders) for such Share, in accordance with the Trust Instrument and the Resolutions and as contemplated by the Registration Statement, and (vii) that the officers of the Trust acted within their authority when registering the names of the Funds as such names appear in the Registration Statement, and (viii) that the Shares have been and are issued and sold to the Shareholders in accordance with the Trust Instrument and the Resolutions and as contemplated by the Registration Statement. We have not participated in the preparation of the Registration Statement and assume no responsibility for its contents.
This opinion is limited to the laws of the State of Delaware (excluding the securities laws of the State of Delaware), and we have not considered and express no opinion on the laws of any other jurisdiction, including federal laws and rules and regulations relating thereto. Our opinions are rendered only with respect to Delaware laws and rules, regulations and orders thereunder which are currently in effect.
Based upon the foregoing, and upon our examination of such questions of law and statutes of the State of Delaware as we have considered necessary or appropriate, and subject to the assumptions, qualifications, limitations and exceptions set forth herein, we are of the opinion that:
1. The Trust has been duly created and is validly existing in good standing as a statutory trust under the Delaware Statutory Trust Act, 12 Del. C. § 3801, et seq.
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2. The Shares of the Trust have been duly authorized and, when issued, will be validly issued, fully paid and nonassessable beneficial interests in the Trust.
We consent to the filing of this opinion with the SEC as an exhibit to the Registration Statement. In giving the foregoing consent, we do not thereby admit that we come within the category of persons whose consent is required under Section 7 of the Securities Act of 1933, as amended, or the rules and regulations of the SEC thereunder.
Very truly yours, |
/s/ Richards, Layton & Finger, P.A. |
RJF/SS
EXHIBIT A
iShares Trust
Funds
iShares Asia 50 ETF
iShares Core S&P 500 ETF
iShares Core S&P Mid-Cap ETF
iShares Core S&P Small-Cap ETF
iShares Core S&P Total U.S. Stock Market ETF
iShares Core S&P U.S. Growth ETF
iShares Core S&P U.S. Value ETF
iShares Currency Hedged JPX-Nikkei 400 ETF
iShares Emerging Markets Infrastructure ETF
iShares Europe ETF
iShares Expanded Tech Sector ETF
iShares Expanded Tech-Software Sector ETF
iShares Factors US Blend Style ETF
iShares Factors US Growth Style ETF
iShares Factors US Mid Blend Style ETF
iShares Factors US Small Blend Style ETF
iShares Factors US Value Style ETF
iShares Focused Value Factor ETF
iShares Global 100 ETF
iShares Global Clean Energy ETF
iShares Global Comm Services ETF
iShares Global Consumer Discretionary ETF
iShares Global Consumer Staples ETF
iShares Global Energy ETF
iShares Global Financials ETF
iShares Global Healthcare ETF
iShares Global Industrials ETF
iShares Global Infrastructure ETF
iShares Global Materials ETF
iShares Global Tech ETF
iShares Global Timber & Forestry ETF
iShares Global Utilities ETF
iShares iBonds Sep 2020 Term Muni Bond ETF
iShares India 50 ETF
iShares International Developed Property ETF
iShares International Dividend Growth ETF
iShares International Preferred Stock ETF
iShares JPX-Nikkei 400 ETF
iShares Latin America 40 ETF
iShares Micro-Cap ETF
iShares Mortgage Real Estate ETF
iShares Nasdaq Biotechnology ETF
iShares North American Natural Resources ETF
iShares North American Tech-Multimedia Networking ETF
iShares PHLX Semiconductor ETF
iShares Preferred and Income Securities ETF
iShares Residential Real Estate ETF
iShares Russell 1000 ETF
iShares Russell 1000 Growth ETF
iShares Russell 1000 Pure U.S. Revenue ETF
iShares Russell 1000 Value ETF
iShares Russell 2000 ETF
iShares Russell 2000 Growth ETF
iShares Russell 2000 Value ETF
iShares Russell 2500 ETF
iShares Russell 3000 ETF
iShares Russell Mid-Cap ETF
iShares Russell Mid-Cap Growth ETF
iShares Russell Mid-Cap Value ETF
iShares Russell Top 200 ETF
iShares Russell Top 200 Growth ETF
iShares Russell Top 200 Value ETF
iShares S&P 100 ETF
iShares S&P 500 Growth ETF
iShares S&P 500 Value ETF
iShares S&P Mid-Cap 400 Growth ETF
iShares S&P Mid-Cap 400 Value ETF
iShares S&P Small-Cap 600 Growth ETF
iShares S&P Small-Cap 600 Value ETF
iShares U.S. Aerospace & Defense ETF
iShares U.S. Broker-Dealers & Securities Exchanges ETF
iShares U.S. Healthcare Providers ETF
iShares U.S. Home Construction ETF
iShares U.S. Infrastructure ETF
iShares U.S. Insurance ETF
iShares U.S. Medical Devices ETF
iShares U.S. Oil & Gas Exploration & Production ETF
iShares U.S. Oil Equipment & Services ETF
iShares U.S. Pharmaceuticals ETF
iShares U.S. Real Estate ETF
iShares U.S. Regional Banks ETF
iShares U.S. Telecommunications ETF
CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
We hereby consent to the incorporation by reference in this Registration Statement on Form N-1A of iShares Trust of our reports dated May 26, 2020, relating to the financial statements and financial highlights, which appear in iShares Asia 50 ETF, iShares Core S&P 500 ETF, iShares Core S&P Mid-Cap ETF, iShares Core S&P Small-Cap ETF, iShares Core S&P Total U.S. Stock Market ETF, iShares Core S&P U.S. Growth ETF, iShares Core S&P U.S. Value ETF, iShares Currency Hedged JPX-Nikkei 400 ETF, iShares Emerging Markets Infrastructure ETF, iShares Europe ETF, iShares Expanded Tech Sector ETF, iShares Expanded Tech-Software Sector ETF, iShares Factors US Growth Style ETF, iShares Factors US Value Style ETF, iShares Focused Value Factor ETF, iShares Global 100 ETF, iShares Global Clean Energy ETF, iShares Global Comm Services ETF, iShares Global Consumer Discretionary ETF, iShares Global Consumer Staples ETF, iShares Global Energy ETF, iShares Global Financials ETF, iShares Global Healthcare ETF, iShares Global Industrials ETF, iShares Global Infrastructure ETF, iShares Global Materials ETF, iShares Global Tech ETF, iShares Global Timber & Forestry ETF, iShares Global Utilities ETF, iShares iBonds Sep 2020 Term Muni Bond ETF, iShares India 50 ETF, iShares International Developed Property ETF, iShares International Dividend Growth ETF, iShares International Preferred Stock ETF, iShares JPX-Nikkei 400 ETF, iShares Latin America 40 ETF, iShares Micro-Cap ETF, iShares Mortgage Real Estate ETF, iShares Nasdaq Biotechnology ETF, iShares North American Natural Resources ETF, iShares North American Tech-Multimedia Networking ETF, iShares PHLX Semiconductor ETF, iShares Preferred and Income Securities ETF, iShares Residential Real Estate ETF, iShares Russell 1000 ETF, iShares Russell 1000 Growth ETF, iShares Russell 1000 Pure U.S. Revenue ETF, iShares Russell 1000 Value ETF, iShares Russell 2000 ETF, iShares Russell 2000 Growth ETF, iShares Russell 2000 Value ETF, iShares Russell 2500 ETF, iShares Russell 3000 ETF, iShares Russell Mid-Cap ETF, iShares Russell Mid-Cap Growth ETF, iShares Russell Mid-Cap Value ETF, iShares Russell Top 200 ETF, iShares Russell Top 200 Growth ETF, iShares Russell Top 200 Value ETF, iShares S&P 100 ETF, iShares S&P 500 Growth ETF, iShares S&P 500 Value ETF, iShares S&P Mid-Cap 400 Growth ETF, iShares S&P Mid-Cap 400 Value ETF, iShares S&P Small-Cap 600 Growth ETF, iShares S&P Small-Cap 600 Value ETF, iShares U.S. Aerospace & Defense ETF, iShares U.S. Broker-Dealers & Securities Exchanges ETF, iShares U.S. Healthcare Providers ETF, iShares U.S. Home Construction ETF, iShares U.S. Infrastructure ETF, iShares U.S. Insurance ETF, iShares U.S. Medical Devices ETF, iShares U.S. Oil & Gas Exploration & Production ETF, iShares U.S. Oil Equipment & Services ETF, iShares U.S. Pharmaceuticals ETF, iShares U.S. Real Estate ETF, iShares U.S. Regional Banks ETF and iShares U.S. Telecommunications ETFs Annual Reports on Form N-CSR for the year ended March 31, 2020. We also consent to the references to us under the headings Financial Statements, Independent Registered Public Accounting Firm and Financial Highlights in such Registration Statement.
/s/ PricewaterhouseCoopers LLP
San Francisco, CA
July 24, 2020