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.
26.40 17.01 23.79 10.28 10.37
Market Price (%)   26.68 17.02 23.78 10.27 10.36
Benchmark (%)   26.70 17.28 24.10 10.56 10.66
After Tax Pre-Liq. (%)   25.82 16.39 23.21 9.75 9.84
After Tax Post-Liq. (%)   15.34 13.30 19.54 8.35 8.43
as of
  YTD 1m 3m 6m 1y 3y 5y 10y Incept.
7.27 4.06 4.04 7.27 26.40 60.22 190.72 165.98 168.46
Market Price (%)   7.25 4.05 4.03 7.25 26.68 60.25 190.58 165.78 168.26
Benchmark (%)   7.36 4.08 4.11 7.36 26.70 61.30 194.36 172.92 175.47
After Tax Pre-Liq. (%)   7.05 3.96 3.94 7.05 25.82 57.67 183.97 153.48 155.84
After Tax Post-Liq. (%)   4.28 2.37 2.36 4.28 15.34 45.45 144.06 122.98 124.84
as of
  2009 2010 2011 2012 2013
Total Return (%)   39.87 25.57 -2.08 18.07 35.36
Market Price (%)   40.22 25.74 -2.22 18.18 35.34
Benchmark (%)   40.28 25.96 -1.84 18.30 35.71

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 $0.623958 - - - -
Jun 24, 2014 Jun 30, 2014 Jun 26, 2014 $0.505402 - - - -
Mar 25, 2014 Mar 31, 2014 Mar 27, 2014 $0.548846 - - - -
Dec 23, 2013 Dec 30, 2013 Dec 26, 2013 $0.706128 $0.706128 $0.000000 $0.000000 $0.000000
Sep 24, 2013 Sep 30, 2013 Sep 26, 2013 $0.508597 $0.508597 $0.000000 $0.000000 $0.000000
Jun 26, 2013 Jul 2, 2013 Jun 28, 2013 $0.502478 $0.502478 $0.000000 $0.000000 $0.000000
Mar 25, 2013 Apr 1, 2013 Mar 27, 2013 $0.460050 $0.460050 $0.000000 $0.000000 $0.000000
Dec 19, 2012 Dec 26, 2012 Dec 21, 2012 $0.895433 $0.895433 $0.000000 $0.000000 $0.000000
Sep 25, 2012 Oct 1, 2012 Sep 27, 2012 $0.608137 $0.608137 $0.000000 $0.000000 $0.000000
Jun 19, 2012 Jun 25, 2012 Jun 21, 2012 $0.441091 $0.441091 $0.000000 $0.000000 $0.000000
Mar 26, 2012 Mar 30, 2012 Mar 28, 2012 $0.462558 $0.462558 $0.000000 $0.000000 $0.000000
Dec 22, 2011 Dec 29, 2011 Dec 27, 2011 $0.715230 $0.715230 $0.000000 $0.000000 $0.000000
Sep 26, 2011 Sep 30, 2011 Sep 28, 2011 $0.570419 $0.570419 $0.000000 $0.000000 $0.000000
Jun 23, 2011 Jun 29, 2011 Jun 27, 2011 $0.350404 $0.350404 $0.000000 $0.000000 $0.000000
Mar 25, 2011 Mar 31, 2011 Mar 29, 2011 $0.325879 $0.325879 $0.000000 $0.000000 $0.000000
Dec 23, 2010 Dec 30, 2010 Dec 28, 2010 $0.583540 $0.583540 $0.000000 $0.000000 $0.000000
Sep 24, 2010 Sep 30, 2010 Sep 28, 2010 $0.410771 $0.410771 $0.000000 $0.000000 $0.000000
Jun 23, 2010 Jun 29, 2010 Jun 25, 2010 $0.270191 $0.270191 $0.000000 $0.000000 $0.000000
Mar 25, 2010 Mar 31, 2010 Mar 29, 2010 $0.226210 $0.226210 $0.000000 $0.000000 $0.000000
Dec 24, 2009 Dec 31, 2009 Dec 29, 2009 $0.490672 $0.490672 $0.000000 $0.000000 $0.000000
Sep 23, 2009 Sep 29, 2009 Sep 25, 2009 $0.288761 $0.288761 $0.000000 $0.000000 $0.000000
Jun 23, 2009 Jun 29, 2009 Jun 25, 2009 $0.166638 $0.166638 $0.000000 $0.000000 $0.000000
Mar 25, 2009 Mar 31, 2009 Mar 27, 2009 $0.358226 $0.358226 $0.000000 $0.000000 $0.000000
Dec 24, 2008 Dec 31, 2008 Dec 29, 2008 $0.612578 $0.612578 $0.000000 $0.000000 $0.000000
Sep 25, 2008 Sep 30, 2008 Sep 29, 2008 $0.423258 $0.423258 $0.000000 $0.000000 $0.000000
Jun 24, 2008 Jun 30, 2008 Jun 26, 2008 $0.385732 $0.385732 $0.000000 $0.000000 $0.000000
Mar 25, 2008 Mar 31, 2008 Mar 27, 2008 $0.198138 $0.198138 $0.000000 $0.000000 $0.000000
Dec 27, 2007 Jan 3, 2008 Dec 31, 2007 $0.699608 $0.699608 $0.000000 $0.000000 $0.000000
Sep 26, 2007 Oct 2, 2007 Sep 28, 2007 $0.225036 $0.225036 $0.000000 $0.000000 $0.000000
Jun 29, 2007 Jul 6, 2007 Jul 3, 2007 $0.676658 $0.676658 $0.000000 $0.000000 $0.000000
Mar 26, 2007 Mar 30, 2007 Mar 28, 2007 $0.306632 $0.306632 $0.000000 $0.000000 $0.000000
Dec 21, 2006 Dec 28, 2006 Dec 26, 2006 $0.632259 $0.632259 $0.000000 $0.000000 $0.000000
Sep 27, 2006 Oct 3, 2006 Sep 29, 2006 $0.455354 $0.455354 $0.000000 $0.000000 $0.000000
Jun 23, 2006 Jun 29, 2006 Jun 27, 2006 $0.293563 $0.293563 $0.000000 $0.000000 $0.000000
Mar 27, 2006 Mar 31, 2006 Mar 29, 2006 $0.266893 $0.266893 $0.000000 $0.000000 $0.000000
Dec 23, 2005 Dec 30, 2005 Dec 28, 2005 $0.563316 $0.563316 $0.000000 $0.000000 $0.000000
Sep 26, 2005 Sep 30, 2005 Sep 28, 2005 $0.383900 $0.383941 $0.000000 $0.000000 $0.000000
Jun 21, 2005 Jun 27, 2005 Jun 23, 2005 $0.237000 $0.237043 $0.000000 $0.000000 $0.000000
Mar 28, 2005 Apr 1, 2005 Mar 30, 2005 $0.309300 $0.309290 $0.000000 $0.000000 $0.000000
Dec 27, 2004 Dec 31, 2004 Dec 29, 2004 $0.458200 $0.458241 $0.000000 $0.000000 $0.000000
Sep 27, 2004 Oct 1, 2004 Sep 29, 2004 $0.295200 $0.295224 $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  

Apr 9, 2014

0.08%
Greatest Discount  

May 12, 2014

-0.07%
Days ± 0.5% of NAV 62
Percent ± 0.5% of NAV 100.00%
Select a Quarter   

Number of Days At:

Premium   26
NAV   15
Discount   21

Premium/Discount Range

# of Days

≥ 0.0 up to 0.5

41

≥ -0.5 up to 0.0

21

Chart Description  

Why is there a difference between NAV and Closing Price?  

Possible Timing Discrepancies  

Holdings

as of 26-Sep-2014

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

PBYI

PUMA BIOTECHNOLOGY INC

1.06 - $4,051,789 16,466 246.07 New York Stock Exchange Inc.
holding-image

GPK

GRAPHIC PACKAGING HOLDING CO.

0.88 Consumer Cyclical $3,349,658 266,905 12.55 New York Stock Exchange Inc.
holding-image

HNT

HEALTH NET INC.

0.80 Health Care $3,048,777 65,551 46.51 New York Stock Exchange Inc.
holding-image

CBSO

CBS OUTDOOR AMERICAS INC

0.77 Consumer Services $2,916,120 97,955 29.77 New York Stock Exchange Inc.
holding-image

ESL

ESTERLINE TECHNOLOGIES CORP.

0.75 Industrials $2,867,769 26,073 109.99 New York Stock Exchange Inc.
holding-image

RPAI

RETAIL PROPERTIES OF AMERICA REIT

0.74 Financials $2,829,501 193,140 14.65 New York Stock Exchange Inc.
holding-image

ACM

AECOM TECHNOLOGY CORP.

0.74 Industrials $2,805,667 81,206 34.55 New York Stock Exchange Inc.
holding-image

XLS

EXELIS INC.

0.73 Industrials $2,784,250 153,741 18.11 New York Stock Exchange Inc.
holding-image

CBT

CABOT CORP.

0.72 Basic Materials $2,737,222 52,720 51.92 New York Stock Exchange Inc.
holding-image

EQC

EQUITY COMMONWEALTH REIT

0.71 Financials $2,720,679 105,208 25.86 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 26-Sep-2014

% of Market Value

Financials

34.46%

Industrials

14.04%

Utilities

10.33%

Consumer Services

8.45%

Technology

7.70%

Basic Materials

4.99%

Health Care

4.00%

Oil & Gas

3.46%

Consumer Cyclical

3.36%

Consumer Goods

3.02%

Financial Services

2.61%

Other/Undefined

1.86%

Consumer Defensive

1.16%

Telecommunications

0.55%

Allocations are subject to change.

KEY FACTS

Net Assets

as of 29-Sep-2014

$379,349,336
Inception Date Jun 28, 2004
Exchange NYSE Arca
Asset Class Equities
Benchmark Index Morningstar Small Value Index
Index Ticker MSVLT

Shares Outstanding 3,150,000
Number of Holdings

as of 26-Sep-2014

260
CUSIP 464288703
Price  

as of 29-Sep-2014

120.55
20 Day Avg. Volume   2,517
Premium/Discount  

as of 29-Sep-2014

0.06%
Options Available No

FEES as of 30-Apr
Expense Ratio   0.30%

PORTFOLIO CHARACTERISTICS

P/E Ratio  

as of 29-Aug-2014

21.94
P/B Ratio  

as of 29-Aug-2014

2.18

Equity Beta  

as of 29-Aug-2014

1.17
Standard Deviation (3y)  

as of 29-Aug-2014

15.01%

12m Trailing Yield  

as of 31-Aug-2014

1.78%
Distribution Yield  

as of 31-Aug-2014

1.60%
30 Day SEC Yield  

as of 31-Aug-2014

2.07%

% Stock 99.70%
% Bond 0.00%
% Cash 0.12%
% Other  

as of 26-Sep-2014

0.18%

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

More Products

No recently viewed funds available

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.

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”).

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-US 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.

©2014 BlackRock, Inc. All rights reserved. BLACKROCK, BLACKROCK SOLUTIONS, ALADDIN, iSHARES, iBONDS, iSHARES CONNECT, LIFEPATH, SO WHAT DO I DO WITH MY MONEY, INVESTING FOR A NEW WORLD, BUILT FOR THESE TIMES, CoRI and the CoRI logo are registered and unregistered trademarks of BlackRock, Inc., or its subsidiaries in the United States and elsewhere. All other marks are the property of their respective owners.

iS-11932