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.
26.06 - - - 24.62
Market Price (%)   23.01 - - - 23.93
Benchmark (%)   27.43 - - - 25.46
After Tax Pre-Liq. (%)   25.02 - - - 23.94
After Tax Post-Liq. (%)   14.98 - - - 19.00
as of
  YTD 1m 3m 6m 1y 3y 5y 10y Incept.
18.29 1.38 5.27 9.95 26.06 - - - 57.10
Market Price (%)   14.87 -0.73 4.58 6.91 23.01 - - - 55.32
Benchmark (%)   19.22 1.72 5.70 10.69 27.43 - - - 59.19
After Tax Pre-Liq. (%)   17.37 1.38 5.27 9.10 25.02 - - - 55.34
After Tax Post-Liq. (%)   10.53 0.78 2.99 5.80 14.98 - - - 42.89
as of
  2009 2010 2011 2012 2013
Total Return (%)   - - - - 25.60
Market Price (%)   - - - - 23.66
Benchmark (%)   - - - - 25.91

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
Jun 25, 2014 Jul 2, 2014 Jun 27, 2014 $0.826452 - - - -
Dec 18, 2013 Dec 30, 2013 Dec 20, 2013 $0.066298 $0.066298 $0.000000 $0.000000 $0.000000
Jun 27, 2013 Jul 5, 2013 Jul 1, 2013 $0.308181 $0.282787 $0.000000 $0.000000 $0.025394
Dec 18, 2012 Dec 27, 2012 Dec 20, 2012 $0.000000 $0.000000 $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 10, 2014

1.95%
Greatest Discount  

Sep 30, 2014

-1.16%
Days ± 0.5% of NAV 8
Percent ± 0.5% of NAV 12.50%
Select a Quarter   

Number of Days At:

Premium   56
NAV   0
Discount   8

Premium/Discount Range

# of Days

≥ 1.5 up to 2.0

8

≥ 1.0 up to 1.5

24

≥ 0.5 up to 1.0

17

≥ 0.0 up to 0.5

7

≥ -0.5 up to 0.0

1

≥ -1.0 up to -0.5

4

≥ -1.5 up to -1.0

3

Chart Description  

Why is there a difference between NAV and Closing Price?  

Possible Timing Discrepancies  

Holdings

as of 26-Nov-2014

Holding Weight (%) Sector Country Market Value Shares Price Exchange Currency Market Currency FX Rate Notional Value
holding-image

NBK

NATIONAL BANK OF KUWAIT S.A.K.

7.19 Financials Kuwait $45,351,208 13,600,687 3.33 Kuwait Stock Exchange USD KWD 0.29 -
holding-image

KFIN

KUWAIT FINANCE HOUSE K.S.C.

5.05 Financials Kuwait $31,848,257 12,519,808 2.54 Kuwait Stock Exchange USD KWD 0.29 -
holding-image

ZAIN

MOBILE TELECOMMUNICATIONS CO. (MTC

4.32 Telecommunication Services Kuwait $27,232,858 12,986,948 2.10 Kuwait Stock Exchange USD KWD 0.29 -
holding-image

YPF

YPF S.A. ADS

3.42 Energy Argentina $21,599,763 611,718 35.31 New York Stock Exchange Inc. USD USD 1.00 -
holding-image

KMG

KAZMUNAIGAS EP JSC - GDR

3.17 Energy Kazakhstan $19,967,219 1,300,796 15.35 London Stock Exchange USD USD 1.00 -
holding-image

NB

NIGERIAN BREWERIES ORD

3.03 Consumer Staples Nigeria $19,144,728 20,454,611 0.94 Nigerian Stock Exchange USD NGN 176.30 -
holding-image

TEO

TELECOM ARGENTINA ADR REPRESENTING

2.41 Telecommunication Services Argentina $15,201,713 678,951 22.39 New York Stock Exchange Inc. USD USD 1.00 -
holding-image

SAFARC

SAFARICOM LTD.

2.09 Telecommunication Services Kenya $13,181,797 86,016,000 0.15 Nairobi Stock Exchange USD KES 90.05 -
holding-image

BMA

BANCO MACRO ADR REPRESENTING TEN S

2.09 Financials Argentina $13,179,290 295,235 44.64 New York Stock Exchange Inc. USD USD 1.00 -
holding-image

AGLTY

THE PUBLIC WAREHOUSING (AGILITY) C

2.00 Industrials Kuwait $12,591,717 4,309,330 2.92 Kuwait Stock Exchange USD KWD 0.29 -
Ticker ISIN SEDOL Name Weight (%) Sector Country Market Value Shares Price Exchange Currency Market Currency FX Rate Notional Value
Holdings are subject to change.

Exposure Breakdowns

as of 26-Nov-2014
  Kuwait 25.19%
  Nigeria 13.21%
  Argentina 12.16%
  Pakistan 9.69%
  Kenya 7.26%
  Oman 6.49%
  Morocco 5.7%
  Kazakhstan 4.66%
  Vietnam 3.38%
  Romania 3.23%
  Bangladesh 2.92%
  Sri Lanka 2.61%
  Mauritius 1.15%
  Other 1.63%
Show all 14 countries
as of 26-Nov-2014

% of Market Value

Financials

49.60%

Energy

14.71%

Telecommunication Services

14.67%

Consumer Staples

7.28%

Industrials

5.47%

Materials

5.38%

Health Care

1.12%

Utilities

1.06%

Allocations are subject to change.

KEY FACTS

Net Assets

as of 26-Nov-2014

$630,806,918
Inception Date Sep 12, 2012
Exchange NYSE Arca
Asset Class Equities
Benchmark Index MSCI Frontier Markets 100 Index
Index Ticker M1FM100

Shares Outstanding 17,700,000
Number of Holdings

as of 26-Nov-2014

105
CUSIP 464286145
Closing Price  

as of 26-Nov-2014

35.23
20 Day Avg. Volume   73,673
Premium/Discount  

as of 26-Nov-2014

-1.23%
Options Available No

FEES as of 31-Aug-2013

Expense Ratio  

0.79%

PORTFOLIO CHARACTERISTICS

P/E Ratio  

as of 31-Oct-2014

16.95
P/B Ratio  

as of 31-Oct-2014

3.17

Equity Beta  

as of 31-Oct-2014

-0.21
Standard Deviation (3y)  

as of -

-

12m Trailing Yield  

as of 31-Oct-2014

2.44%
Distribution Yield  

as of 31-Oct-2014

4.69%
30 Day SEC Yield  

as of 31-Oct-2014

1.90%

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.

International investing involves risks, including risks related to foreign currency, limited liquidity, less government regulation and the possibility of substantial volatility due to adverse political, economic or other developments. These risks often are heightened for investments in emerging/developing markets or in concentrations of single countries.

Frontier markets involve heightened risks related to the same factors and may be subject to a greater risk of loss than investments in more developed and emerging markets.

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.

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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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