PERFORMANCE


The Hypothetical Growth of $10,000 chart reflects a hypothetical $10,000 investment and assumes reinvestment of dividends and capital gains. Fund expenses, including management fees and other expenses were deducted.



The performance quoted represents past performance and does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than the original cost. Current performance may be lower or higher than the performance quoted, and numbers may reflect small variances due to rounding. Standardized performance and performance data current to the most recent month end may be obtained by clicking the "Returns" tab above.

The performance quoted represents past performance and does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than the original cost. Current performance may be lower or higher than the performance quoted.

Ex-Date Payable Date Record Date Total Distribution   Income ST Cap Gains LT Cap Gains Return on Capital

Past distributions are not indicative of future distributions.



The performance quoted represents past performance and does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than the original cost. Current performance may be lower or higher than the performance quoted, and numbers may reflect small variances due to rounding. Standardized performance and performance data current to the most recent month end may be obtained by clicking the "Returns" tab above.

Holdings

as of 16-Apr-2015

Ticker Name Weight (%) Sector Market Value Shares Price Exchange Notional Value
CRUS CIRRUS LOGIC INC. 2.64 Information Technology $603,792 17,832 33.86 NASDAQ 603,791.52
SYA SYMETRA FINANCIAL CORP. 2.34 Financials $533,146 21,655 24.62 New York Stock Exchange Inc. 533,146.10
PLCE CHILDRENS PLACE INC 2.30 Consumer Discretionary $524,825 8,412 62.39 NASDAQ 524,824.68
TFM FRESH MARKET INC 2.05 Consumer Staples $467,440 12,135 38.52 NASDAQ 467,440.20
BWLD BUFFALO WILD WINGS INC. 2.04 Consumer Discretionary $465,076 2,595 179.22 NASDAQ 465,075.90
CSH CASH AMERICA INTERNATIONAL INC 2.04 Financials $464,936 17,558 26.48 New York Stock Exchange Inc. 464,935.84
H HYATT HOTELS CORP. 1.99 Consumer Discretionary $455,013 7,802 58.32 New York Stock Exchange Inc. 455,012.64
AHL ASPEN INSURANCE HOLDINGS LTD. 1.98 Financials $452,633 9,381 48.25 New York Stock Exchange Inc. 452,633.25
ALGT ALLEGIANT TRAVEL CO. 1.90 Industrials $433,733 2,575 168.44 NASDAQ 433,733.00
RPXC RPX CORP. 1.87 Industrials $426,928 29,484 14.48 NASDAQ 426,928.32
Ticker ISIN SEDOL Name Weight (%) Asset Class Sector Market Value Shares Price Exchange Notional Value
Holdings are subject to change.

Exposure Breakdowns

as of 16-Apr-2015

% of Market Value

Financials

25.20%

Information Technology

18.60%

Consumer Discretionary

17.42%

Industrials

10.56%

Health Care

10.55%

Utilities

7.29%

Consumer Staples

6.56%

Energy

1.57%

Materials

1.03%

Telecommunications

0.74%

Cash and/or Derivatives

0.47%

Allocations are subject to change.

KEY FACTS

Net Assets

as of 17-Apr-2015

$22,475,337
Inception Date Apr 16, 2013
Exchange NYSE Arca
Asset Class Equity
Benchmark Index N/A

Shares Outstanding 700,000
Number of Holdings  

as of 16-Apr-2015

261
CUSIP 46431W200
Closing Price  

as of 16-Apr-2015

32.70
20 Day Avg. Volume   777
Premium/Discount  

as of 17-Apr-2015

-
Options Available No

FEES as of 31-Jul-2014

Expense Ratio  

0.36%

PORTFOLIO CHARACTERISTICS

P/E Ratio  

as of 16-Apr-2015

18.58
P/B Ratio  

as of 16-Apr-2015

1.83

Equity Beta  

as of 31-Mar-2015

1.05
Standard Deviation (3y)  

as of -

-

12m Trailing Yield  

as of 31-Mar-2015

1.57%
Distribution Yield  

as of 31-Mar-2015

3.05%
30 Day SEC Yield  

as of 31-Mar-2015

1.00%

This information must be preceded or accompanied by a current prospectus. For standardized performance, please click on the "Returns" tab above.

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

Investing involves risk, including possible loss of principal.

The Fund is actively managed and does not seek to replicate the performance of a specified index. The Fund may have a higher portfolio turnover than funds that seek to replicate the performance of an index.

The Funds seek to provide exposure to large-capitalization and/or small-capitalization stocks that emphasize certain quantitative investment characteristics ("factors"), including, but not limited to, cash earnings, earnings variability, leverage, price-to-book ratio and market capitalization. There can be no assurance that exposure to such investment factors will enhance the Fund's performance over time. It is expected that exposure to such investment factors will detract from performance in some market environments, perhaps for extended periods. In such circumstances, the Fund's investment process will seek to maintain exposure to the targeted investment factors and will not adjust to target different factors. Small-capitalization companies may be less stable and more susceptible to adverse developments, and their securities may be more volatile and less liquid than larger capitalization companies.

Shares of ETFs are bought and sold at market price (not NAV) and are not individually redeemed from the Fund. Brokerage commissions will reduce returns. Market returns are based upon the midpoint of the bid/ask spread at 4:00 p.m. Eastern time (when NAV is normally determined for most ETFs), and do not represent the returns you would receive if you traded shares at other times.

Index returns are for illustrative purposes only. Index performance returns do not reflect any management fees, transaction costs or expenses. Indexes are unmanaged and one cannot invest directly in an index. Past performance does not guarantee future results.

After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on the investor's tax situation and may differ from those shown. The after-tax returns shown are not relevant to investors who hold their fund shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.

Certain sectors and markets perform exceptionally well based on current market conditions and iShares Funds can benefit from that performance. Achieving such exceptional returns involves the risk of volatility and investors should not expect that such results will be repeated.

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

Although BlackRock shall obtain data from sources that BlackRock considers reliable, all data contained herein is provided “as is” and BlackRock makes no representation or warranty of any kind, either express or implied, with respect to such data, the timeliness thereof, the results to be obtained by the use thereof or any other matter. BlackRock expressly disclaims any and all implied warranties, including without limitation, warranties of originality, accuracy, completeness, timeliness, non-infringement, merchantability and fitness for a particular purpose.



The iShares Funds are not sponsored, endorsed, issued, sold or promoted by Cohen & Steers Capital Management, Inc., European Public Real Estate Association ("EPRA®"), FTSE International Limited ("FTSE"), India Index Services & Products Limited, JPMorgan Chase & Co., MSCI Inc., Markit Indices Limited, Morningstar, Inc., The NASDAQ OMX Group, Inc., National Association of Real Estate Investment Trusts (“NAREIT”), New York Stock Exchange, Inc., Russell Investment Group or S&P Dow Jones Indices LLC, nor are they sponsored, endorsed or issued by Barclays Capital Inc. None of these companies make any representation regarding the advisability of investing in the Funds. BlackRock is not affiliated with the companies listed above. Index data related to the underlying indexes is provided by the respective companies above.

Neither FTSE nor NAREIT makes any warranty regarding the FTSE NAREIT Real Estate 50 Index, FTSE NAREIT Residential Plus Capped Index, FTSE NAREIT Industrial/Office Capped Index or FTSE NAREIT All Mortgage Capped Index; all rights vest in NAREIT. Neither FTSE nor NAREIT makes any warranty regarding the FTSE EPRA/NAREIT Developed Real Estate ex-U.S. Index, FTSE EPRA/NAREIT Developed Europe Index, FTSE EPRA/NAREIT Global REIT Index or FTSE EPRA/NAREIT Developed Asia Index; all rights vest in FTSE, NAREIT and EPRA. "FTSE®" is a trademark of London Stock Exchange Group companies and is used by FTSE under license.

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