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.
25.23 - - - 19.86
Market Price (%)   25.22 - - - 19.88
Benchmark (%)   25.43 - - - 20.08
After Tax Pre-Liq. (%)   24.75 - - - 19.38
After Tax Post-Liq. (%)   14.42 - - - 15.05
  YTD 1m 3m 6m 1y 3y 5y 10y Incept.
5.94 2.07 5.20 5.94 25.23 - - - 24.47
Market Price (%)   5.94 2.10 5.20 5.94 - - - - 24.49
Benchmark (%)   6.04 2.10 5.26 6.04 25.43 - - - 24.68
After Tax Pre-Liq. (%)   5.72 1.93 5.06 5.72 24.75 - - - 23.86
After Tax Post-Liq. (%)   3.36 1.17 2.94 3.36 14.42 - - - 18.46
  2010 2011 2012 2013 2014


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 1, 2014 Jun 27, 2014 $0.197180 - - - -
Mar 25, 2014 Mar 31, 2014 Mar 27, 2014 $0.101178 - - - -
Dec 23, 2013 Dec 30, 2013 Dec 26, 2013 $0.209381 $0.209381 $0.000000 $0.000000 $0.000000
Sep 24, 2013 Sep 30, 2013 Sep 26, 2013 $0.203626 $0.203626 $0.000000 $0.000000 $0.000000
Jun 27, 2013 Jul 3, 2013 Jul 1, 2013 $0.196890 $0.196890 $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 11, 2014

0.06%
Greatest Discount  

Apr 30, 2014

-0.03%
Days ± 0.5% of NAV 62
Percent ± 0.5% of NAV 100.00%
Select a Quarter   

Number of Days At:

Premium   36
NAV   9
Discount   17

Premium/Discount Range

# of Days

≥ 0.0 up to 0.5

45

≥ -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 23-Jul-2014

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

FB

FACEBOOK INC.

5.37 Information Technology $17,041,803 239,049 71.29 NASDAQ
holding-image

WFC

WELLS FARGO & CO.

4.90 Financials $15,569,313 303,318 51.33 New York Stock Exchange Inc.
holding-image

MRK

MERCK & CO INC

4.85 Health Care $15,410,017 265,187 58.11 New York Stock Exchange Inc.
holding-image

JNJ

JOHNSON & JOHNSON

4.77 Health Care $15,137,813 148,134 102.19 New York Stock Exchange Inc.
holding-image

BRK.B

BERKSHIRE HATHAWAY INC. CL B

3.18 Financials $10,082,806 78,692 128.13 New York Stock Exchange Inc.
holding-image

GILD

GILEAD SCIENCES INC.

2.94 Health Care $9,341,337 103,402 90.34 NASDAQ
holding-image

ACT

ACTAVIS PLC

2.67 - $8,486,284 38,639 219.63 New York Stock Exchange Inc.
holding-image

UNP

UNION PACIFIC CORP

2.65 Industrials $8,426,835 82,205 102.51 New York Stock Exchange Inc.
holding-image

CVS

CVS CAREMARK CORP

2.48 Consumer Staples $7,884,489 100,915 78.13 New York Stock Exchange Inc.
holding-image

AGN

ALLERGAN INC

2.37 - $7,526,225 43,648 172.43 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 23-Jul-2014

% of Market Value

Health Care

22.31%

Industrials

15.78%

Information Technology

14.82%

Financials

11.15%

Consumer Discretionary

8.59%

Consumer Staples

6.41%

Other/Undefined

6.23%

Energy

5.48%

Materials

4.77%

Utilities

3.93%

Telecommunication Services

0.54%

Allocations subject to change.

KEY FACTS

Net Assets

as of 23-Jul-2014

$317,442,792
Inception Date Apr 16, 2013
Exchange NYSE Arca
Asset Class Equities
Benchmark Index MSCI USA Momentum Index
Index Ticker M2US000$

Shares Outstanding 4,950,000
Number of Holdings

as of 23-Jul-2014

125
CUSIP 46432F396
Price  

as of 23-Jul-2014

64.20
20 Day Avg. Volume 13,878
Premium/Discount  

as of 23-Jul-2014

0.06%
Options Available No

FEES as of 31-Jul
Expense Ratio   0.15%

PORTFOLIO CHARACTERISTICS

P/E Ratio  

as of 30-Jun-2014

27.42
P/B Ratio  

as of 30-Jun-2014

5.04

Equity Beta  

as of -

-
Standard Deviation (3y)  

as of -

-

12m Trailing Yield  

as of -

-
Distribution Yield  

as of 30-Jun-2014

1.42%
30 Day SEC Yield  

as of 30-Jun-2014

1.15%

% Stock 99.88%
% Bond 0.00%
% Cash 0.07%
% Other  

as of 23-Jul-2014

0.05%

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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1. Source: BlackRock, Global Return Premiums on Earnings Quality, Value and Size, January 7, 2013.

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.

Funds that concentrate investments in a single sector will be more susceptible to factors affecting that sector and more volatile than funds that invest in many different sectors.

Stocks that previously exhibited high momentum may not experience continued positive momentum or may experience more volatility than the market as a whole. Value securities are those issued by companies that may be perceived as undervalued. Value securities may fail to appreciate for long periods of time and may never realize their full potential value. The value of the securities in the iShares MSCI USA Size ETF's portfolio may fluctuate, sometimes rapidly and unpredictably. The value of a security may fluctuate due to factors affecting markets generally or particular industries. Securities in the iShares MSCI USA Size ETF's portfolio may be subject to price volatility and the prices may not be any less volatile than the market as a whole and could be more volatile. The index underlying iShares MSCI USA Quality Factor ETF seeks to identify common stocks with high return on equity, stable year-over-year earnings growth and low debt-to-equity, but there is no guarantee that the past performance of these stocks will continue. Companies that issue these stocks may experience lower than expected returns or may experience negative growth, as well as increased leverage, resulting in lower than expected or negative returns.

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. All rights in the FTSE Developed Small Cap ex-North America Index vest in FTSE. "FTSE®" is a trademark of London Stock Exchange Group companies and is used by FTSE under license.

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