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.
as of
  1y 3y 5y 10y Incept.
16.77 25.81 16.73 9.52 9.56
Market Price (%)   16.69 25.81 16.74 9.53 9.56
Benchmark (%)   17.12 26.19 17.08 9.79 9.84
After Tax Pre-Liq. (%)   16.19 25.25 16.23 9.06 9.10
After Tax Post-Liq. (%)   9.89 20.59 13.53 7.79 7.83
as of
  YTD 1m 3m 6m 1y 3y 5y 10y Incept.
6.10 -4.05 -3.28 2.36 16.77 99.14 116.74 148.31 155.11
Market Price (%)   6.07 -4.06 -3.35 2.30 16.69 99.14 116.78 148.41 155.13
Benchmark (%)   6.33 -4.02 -3.22 2.50 17.12 100.93 120.00 154.58 161.76
After Tax Pre-Liq. (%)   5.74 -4.17 -3.41 2.13 16.19 96.50 112.14 138.07 144.41
After Tax Post-Liq. (%)   3.72 -2.20 -1.77 1.50 9.89 75.37 88.61 111.69 116.77
as of
  2009 2010 2011 2012 2013
Total Return (%)   35.62 20.21 -2.87 17.28 41.72
Market Price (%)   35.68 20.38 -3.06 17.34 41.76
Benchmark (%)   36.05 20.61 -2.60 17.58 42.18

Past performance is not a guide to future performance and should not be the sole factor of consideration when selecting a product. The price of the investments may go up or down and the investor may not get back the amount invested.

Source: BlackRock.  Performance data is displayed on a Net Asset Value basis, net of fees. Brokerage or transaction fees will apply.

Ex-Date Payable Date Record Date Total Distribution   Income ST Cap Gains LT Cap Gains Return on Capital
Sep 24, 2014 Sep 30, 2014 Sep 26, 2014 $0.615910 - - - -
Jun 24, 2014 Jun 30, 2014 Jun 26, 2014 $0.463533 - - - -
Mar 25, 2014 Mar 31, 2014 Mar 27, 2014 $0.562232 - - - -
Dec 23, 2013 Dec 30, 2013 Dec 26, 2013 $0.688541 $0.688541 $0.000000 $0.000000 $0.000000
Sep 24, 2013 Sep 30, 2013 Sep 26, 2013 $0.536880 $0.536880 $0.000000 $0.000000 $0.000000
Jun 26, 2013 Jul 2, 2013 Jun 28, 2013 $0.439131 $0.439131 $0.000000 $0.000000 $0.000000
Mar 25, 2013 Apr 1, 2013 Mar 27, 2013 $0.473783 $0.473783 $0.000000 $0.000000 $0.000000
Dec 19, 2012 Dec 26, 2012 Dec 21, 2012 $0.620332 $0.620332 $0.000000 $0.000000 $0.000000
Sep 25, 2012 Oct 1, 2012 Sep 27, 2012 $0.490139 $0.490139 $0.000000 $0.000000 $0.000000
Jun 19, 2012 Jun 25, 2012 Jun 21, 2012 $0.371734 $0.371734 $0.000000 $0.000000 $0.000000
Mar 26, 2012 Mar 30, 2012 Mar 28, 2012 $0.372492 $0.372492 $0.000000 $0.000000 $0.000000
Dec 22, 2011 Dec 29, 2011 Dec 27, 2011 $0.539877 $0.539877 $0.000000 $0.000000 $0.000000
Sep 26, 2011 Sep 30, 2011 Sep 28, 2011 $0.401184 $0.401184 $0.000000 $0.000000 $0.000000
Jun 23, 2011 Jun 29, 2011 Jun 27, 2011 $0.323718 $0.323718 $0.000000 $0.000000 $0.000000
Mar 25, 2011 Mar 31, 2011 Mar 29, 2011 $0.363006 $0.363006 $0.000000 $0.000000 $0.000000
Dec 23, 2010 Dec 30, 2010 Dec 28, 2010 $0.475710 $0.475710 $0.000000 $0.000000 $0.000000
Sep 24, 2010 Sep 30, 2010 Sep 28, 2010 $0.907274 $0.907274 $0.000000 $0.000000 $0.000000
Jun 23, 2010 Jun 29, 2010 Jun 25, 2010 $0.336015 $0.336015 $0.000000 $0.000000 $0.000000
Mar 25, 2010 Mar 31, 2010 Mar 29, 2010 $0.282339 $0.282339 $0.000000 $0.000000 $0.000000
Dec 24, 2009 Dec 31, 2009 Dec 29, 2009 $0.500468 $0.500468 $0.000000 $0.000000 $0.000000
Sep 23, 2009 Sep 29, 2009 Sep 25, 2009 $0.293163 $0.293163 $0.000000 $0.000000 $0.000000
Jun 23, 2009 Jun 29, 2009 Jun 25, 2009 $0.270957 $0.270957 $0.000000 $0.000000 $0.000000
Mar 25, 2009 Mar 31, 2009 Mar 27, 2009 $0.354105 $0.354105 $0.000000 $0.000000 $0.000000
Dec 24, 2008 Dec 31, 2008 Dec 29, 2008 $0.650475 $0.650475 $0.000000 $0.000000 $0.000000
Sep 25, 2008 Sep 30, 2008 Sep 29, 2008 $0.598488 $0.598488 $0.000000 $0.000000 $0.000000
Jun 24, 2008 Jun 30, 2008 Jun 26, 2008 $0.338395 $0.338395 $0.000000 $0.000000 $0.000000
Mar 25, 2008 Mar 31, 2008 Mar 27, 2008 $0.275029 $0.275029 $0.000000 $0.000000 $0.000000
Dec 27, 2007 Jan 3, 2008 Dec 31, 2007 $0.668269 $0.668269 $0.000000 $0.000000 $0.000000
Sep 26, 2007 Oct 2, 2007 Sep 28, 2007 $0.380016 $0.380016 $0.000000 $0.000000 $0.000000
Jun 29, 2007 Jul 6, 2007 Jul 3, 2007 $0.601995 $0.601995 $0.000000 $0.000000 $0.000000
Mar 26, 2007 Mar 30, 2007 Mar 28, 2007 $0.354609 $0.354609 $0.000000 $0.000000 $0.000000
Dec 21, 2006 Dec 28, 2006 Dec 26, 2006 $0.570472 $0.570472 $0.000000 $0.000000 $0.000000
Sep 27, 2006 Oct 3, 2006 Sep 29, 2006 $0.369485 $0.369485 $0.000000 $0.000000 $0.000000
Jun 23, 2006 Jun 29, 2006 Jun 27, 2006 $0.314874 $0.314874 $0.000000 $0.000000 $0.000000
Mar 27, 2006 Mar 31, 2006 Mar 29, 2006 $0.267504 $0.267504 $0.000000 $0.000000 $0.000000
Dec 23, 2005 Dec 30, 2005 Dec 28, 2005 $0.776397 $0.776397 $0.000000 $0.000000 $0.000000
Sep 26, 2005 Sep 30, 2005 Sep 28, 2005 $0.336600 $0.336570 $0.000000 $0.000000 $0.000000
Jun 21, 2005 Jun 27, 2005 Jun 23, 2005 $0.416500 $0.416536 $0.000000 $0.000000 $0.000000
Mar 28, 2005 Apr 1, 2005 Mar 30, 2005 $0.369000 $0.368955 $0.000000 $0.000000 $0.000000
Dec 27, 2004 Dec 31, 2004 Dec 29, 2004 $0.444100 $0.444084 $0.000000 $0.000000 $0.000000
Sep 27, 2004 Oct 1, 2004 Sep 29, 2004 $0.226700 $0.226689 $0.000000 $0.000000 $0.000000

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.
Greatest Premium  

Jul 9, 2014

0.05%
Greatest Discount  

Sep 26, 2014

-0.04%
Days ± 0.5% of NAV 64
Percent ± 0.5% of NAV 100.00%
Select a Quarter   

Number of Days At:

Premium   34
NAV   13
Discount   17

Premium/Discount Range

# of Days

≥ 0.0 up to 0.5

47

≥ -0.5 up to 0.0

17

Chart Description  

Why is there a difference between NAV and Closing Price?  

Possible Timing Discrepancies  

Holdings

as of 21-Oct-2014

Holding Weight (%) Sector Market Value Shares Price Exchange
holding-image

UAL

UNITED CONTINENTAL HOLDINGS INC.

1.42 Industrials $3,018,823 60,974 49.51 New York Stock Exchange Inc.
holding-image

XEL

XCEL ENERGY INC.

1.26 Utilities $2,677,093 82,499 32.45 New York Stock Exchange Inc.
holding-image

SYMC

SYMANTEC CORP.

1.25 Technology $2,667,841 112,686 23.68 NASDAQ
holding-image

MTB

M&T BANK CORP.

1.16 Financials $2,478,708 21,539 115.08 New York Stock Exchange Inc.
holding-image

NU

NORTHEAST UTILITIES

1.16 Utilities $2,467,713 51,615 47.81 New York Stock Exchange Inc.
holding-image

FE

FIRSTENERGY CORP.

1.13 Utilities $2,417,871 68,670 35.21 New York Stock Exchange Inc.
holding-image

ETR

ENTERGY CORP.

1.10 Utilities $2,347,680 29,346 80.00 New York Stock Exchange Inc.
holding-image

XRX

XEROX CORP

1.10 Technology $2,337,958 177,118 13.20 New York Stock Exchange Inc.
holding-image

DTE

DTE ENERGY

1.08 Utilities $2,306,689 28,924 79.75 New York Stock Exchange Inc.
holding-image

PFG

PRINCIPAL FINANCIAL GROUP INC.

1.06 Financials $2,261,389 44,665 50.63 New York Stock Exchange Inc.
Ticker ISIN SEDOL Name Weight (%) Sector Market Value Shares Price Exchange
Holdings are subject to change.

Exposure Breakdowns

as of 21-Oct-2014

% of Market Value

Financials

23.26%

Utilities

17.05%

Industrials

10.98%

Consumer Goods

7.92%

Oil & Gas

7.01%

Technology

6.66%

Basic Materials

6.08%

Consumer Services

5.40%

Consumer Cyclical

5.06%

Health Care

3.45%

Financial Services

3.10%

Consumer Defensive

2.37%

Telecommunications

0.51%

Communication Services

0.48%

Allocations are subject to change.

KEY FACTS

Net Assets

as of 21-Oct-2014

$213,145,993
Inception Date Jun 28, 2004
Exchange NYSE Arca
Asset Class Equities
Benchmark Index Morningstar Mid Value Index
Index Ticker MMVLT

Shares Outstanding 1,800,000
Number of Holdings

as of 21-Oct-2014

198
CUSIP 464288406
Closing Price  

as of 21-Oct-2014

118.41
20 Day Avg. Volume   3,252
Premium/Discount  

as of 21-Oct-2014

0.00%
Options Available No

FEES as of 30-Apr
Expense Ratio   0.30%

PORTFOLIO CHARACTERISTICS

P/E Ratio  

as of 30-Sep-2014

19.54
P/B Ratio  

as of 30-Sep-2014

2.38

Equity Beta  

as of 30-Sep-2014

1.24
Standard Deviation (3y)  

as of 30-Sep-2014

12.32%

12m Trailing Yield  

as of 30-Sep-2014

1.95%
Distribution Yield  

as of 30-Sep-2014

1.97%
30 Day SEC Yield  

as of 30-Sep-2014

2.09%

% Stock 100.12%
% Bond 0.00%
% Cash 0.10%
% Other  

as of 21-Oct-2014

0.00%

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.

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”).

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.

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