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.
8.44 - - - 5.12
Market Price (%)   10.49 - - - 5.45
Benchmark (%)   9.02 2.87 - - 5.79
After Tax Pre-Liq. (%)   6.71 - - - 4.32
After Tax Post-Liq. (%)   5.63 - - - 4.24
  YTD 1m 3m 6m 1y 3y 5y 10y Incept.
6.10 3.00 6.11 6.10 8.44 - - - 14.01
Market Price (%)   7.84 1.90 7.17 7.84 - - - - 14.95
Benchmark (%)   6.42 3.04 6.38 6.42 9.02 8.85 - - 15.91
After Tax Pre-Liq. (%)   5.16 2.86 5.55 5.16 6.71 - - - 11.74
After Tax Post-Liq. (%)   3.43 1.70 3.45 3.43 5.63 - - - 11.51
  2009 2010 2011 2012 2013
Total Return (%)   - - - 12.69 -4.94
Market Price (%)   - - - 13.10 -6.82
Benchmark (%)   - - -1.38 13.66 -4.66


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
Jul 1, 2014 Jul 8, 2014 Jul 3, 2014 $0.076767 - - - -
Jun 2, 2014 Jun 6, 2014 Jun 4, 2014 $0.079509 - - - -
May 1, 2014 May 7, 2014 May 5, 2014 $0.089051 - - - -
Apr 1, 2014 Apr 7, 2014 Apr 3, 2014 $0.127384 - - - -
Mar 3, 2014 Mar 7, 2014 Mar 5, 2014 $0.118968 - - - -
Feb 3, 2014 Feb 7, 2014 Feb 5, 2014 $0.075844 - - - -
Dec 26, 2013 Jan 2, 2014 Dec 30, 2013 $0.300500 $0.300500 $0.000000 $0.000000 $0.000000
Dec 2, 2013 Dec 6, 2013 Dec 4, 2013 $0.254022 $0.158099 $0.095923 $0.000000 $0.000000
Nov 1, 2013 Nov 7, 2013 Nov 5, 2013 $0.031593 $0.031593 $0.000000 $0.000000 $0.000000
Oct 1, 2013 Oct 7, 2013 Oct 3, 2013 $0.097435 $0.097435 $0.000000 $0.000000 $0.000000
Sep 3, 2013 Sep 9, 2013 Sep 5, 2013 $0.111844 $0.111844 $0.000000 $0.000000 $0.000000
Aug 1, 2013 Aug 7, 2013 Aug 5, 2013 $0.045253 $0.045253 $0.000000 $0.000000 $0.000000
Jul 2, 2013 Jul 9, 2013 Jul 5, 2013 $0.070381 $0.070381 $0.000000 $0.000000 $0.000000
Jun 3, 2013 Jun 7, 2013 Jun 5, 2013 $0.179934 $0.179934 $0.000000 $0.000000 $0.000000
May 1, 2013 May 7, 2013 May 3, 2013 $0.032800 $0.032800 $0.000000 $0.000000 $0.000000
Apr 1, 2013 Apr 5, 2013 Apr 3, 2013 $0.174549 $0.174549 $0.000000 $0.000000 $0.000000
Mar 1, 2013 Mar 7, 2013 Mar 5, 2013 $0.064307 $0.064307 $0.000000 $0.000000 $0.000000
Feb 1, 2013 Feb 7, 2013 Feb 5, 2013 $0.039663 $0.039663 $0.000000 $0.000000 $0.000000
Dec 26, 2012 Jan 2, 2013 Dec 28, 2012 $0.079730 $0.079730 $0.000000 $0.000000 $0.000000
Dec 3, 2012 Dec 7, 2012 Dec 5, 2012 $0.166529 $0.166529 $0.000000 $0.000000 $0.000000
Nov 1, 2012 Nov 7, 2012 Nov 5, 2012 $0.050109 $0.050109 $0.000000 $0.000000 $0.000000
Oct 1, 2012 Oct 5, 2012 Oct 3, 2012 $0.091231 $0.091231 $0.000000 $0.000000 $0.000000
Sep 4, 2012 Sep 10, 2012 Sep 6, 2012 $0.118444 $0.118444 $0.000000 $0.000000 $0.000000
Aug 1, 2012 Aug 7, 2012 Aug 3, 2012 $0.036050 $0.036050 $0.000000 $0.000000 $0.000000
Jul 2, 2012 Jul 9, 2012 Jul 5, 2012 $0.063221 $0.063221 $0.000000 $0.000000 $0.000000
Jun 1, 2012 Jun 7, 2012 Jun 5, 2012 $0.122855 $0.122855 $0.000000 $0.000000 $0.000000
May 1, 2012 May 7, 2012 May 3, 2012 $0.062625 $0.062625 $0.000000 $0.000000 $0.000000
Apr 2, 2012 Apr 9, 2012 Apr 4, 2012 $0.182795 $0.182795 $0.000000 $0.000000 $0.000000
Mar 1, 2012 Mar 7, 2012 Mar 5, 2012 $0.080195 $0.080195 $0.000000 $0.000000 $0.000000
Feb 1, 2012 Feb 7, 2012 Feb 3, 2012 $0.035682 $0.035682 $0.000000 $0.000000 $0.000000
Dec 27, 2011 Jan 4, 2012 Dec 29, 2011 $0.095592 $0.095592 $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  

Jun 6, 2014

1.97%
Greatest Discount  

Apr 4, 2014

-0.82%
Days ± 0.5% of NAV 15
Percent ± 0.5% of NAV 24.19%
Select a Quarter   

Number of Days At:

Premium   49
NAV   1
Discount   12

Premium/Discount Range

# of Days

≥ 1.5 up to 2.0

15

≥ 1.0 up to 1.5

23

≥ 0.5 up to 1.0

6

≥ 0.0 up to 0.5

6

≥ -0.5 up to 0.0

9

≥ -1.0 up to -0.5

3

Chart Description  

Why is there a difference between NAV and Closing Price?  

Possible Timing Discrepancies  

Holdings

as of 23-Jul-2014

Ticker ISIN SEDOL Sector Weight (%) Market Value Shares Price Asset Class Exchange Country Currency
holding-image

LLOYDS

LLOYDS BANKING GP 9.25% NON-CUM IR

GB00B3KS9W93 B3KS9W9 Financials 3.31 $1,185,483 512,431 2.31 EQ XLON United Kingdom USD
holding-image

DNA2

DORIC NIMROD AIR TWO LTD.

GG00B3Z62522 B3Z6252 Industrials 3.24 $1,160,412 295,087 3.93 EQ XLON United Kingdom USD
holding-image

TRPCN

TRANSCANADA CORP

CA89353D8834 B8194G5 Energy 2.68 $958,819 40,996 23.39 EQ - Canada USD
holding-image

BCE

BCE INC 1ST PFD SER AK

CA05534B6796 B3NY8F0 Telecommunication Services 2.49 $891,017 42,704 20.86 EQ XTSE Canada USD
holding-image

BMO

BANK OF MONTREAL PERP SERIES 27

CA0636794012 BLTNVS1 Financials 2.28 $818,093 34,163 23.95 EQ XTSE Canada USD
holding-image

TRPCN

TRANSCANADA CORP

CA89353D4049 B4TY4B9 Energy 2.28 $815,945 37,580 21.71 EQ - Canada USD
holding-image

RY

ROYAL BANK OF CANANDA

CA78012G4117 BJ36RB7 Financials 2.25 $806,960 34,163 23.62 EQ - Canada USD
holding-image

RY.PR.H

ROYAL BANK OF CANADA NON CUM YR R

CA78012H5675 BN60CS6 - 2.25 $806,006 34,163 23.59 EQ XTSE Canada USD
holding-image

TRPCN

TRANSCANADA CORP

CA89353D8677 BJ4H8B6 Energy 2.03 $726,557 30,747 23.63 EQ - Canada USD
holding-image

DNA3

DORIC NIMROD AIR THREE LTD

GG00B92LHN58 B92LHN5 Industrials 1.88 $672,456 375,798 1.79 EQ XLON Guernsey USD
Ticker ISIN SEDOL Name Sector Weight (%) Market Value Shares Price Asset Class Exchange Country Currency
Holdings are subject to change.

Exposure Breakdowns

as of 23-Jul-2014
  Canada 71.26%
  United Kingdom 20.52%
  Guernsey 3.64%
  Singapore 2.98%
  Sweden 1.2%
  Other 0.02%
as of 23-Jul-2014

% of Market Value

Financials

59.34%

Energy

21.79%

Industrials

6.19%

Other/Undefined

4.44%

Utilities

4.32%

Telecommunication Services

3.92%

Allocations subject to change.

KEY FACTS

Net Assets

as of 24-Jul-2014

$35,741,652
Inception Date Nov 15, 2011
Exchange NYSE Arca
Asset Class Equities
Benchmark Index S&P International Preferred Stock Index
Index Ticker SPPRIUN

Shares Outstanding 1,450,000
Number of Holdings

as of 23-Jul-2014

77
CUSIP 46429B135
Price  

as of 23-Jul-2014

25.03
20 Day Avg. Volume 3,768
Premium/Discount  

as of 24-Jul-2014

-
Options Available No

FEES as of 31-Mar
Expense Ratio   0.55%

PORTFOLIO CHARACTERISTICS

Equity Beta  

as of 30-Jun-2014

0.44
Standard Deviation (3y)  

as of -

-

12m Trailing Yield  

as of 30-Jun-2014

5.20%
Distribution Yield  

as of 30-Jun-2014

3.86%
30 Day SEC Yield  

as of 30-Jun-2014

3.63%

% Stock 99.61%
% Bond 0.00%
% Cash 0.02%
% Other  

as of 23-Jul-2014

0.37%

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.

Preferred stocks are not necessarily correlated with securities markets generally. Rising interest rates may cause the value of the Fund’s investments to decline significantly. Removal of stocks from the index due to maturity, redemption, call features or conversion may cause a decrease in the yield of the index and the Fund.

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.

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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