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.
18.74 - - - 16.96
Market Price (%)   18.73 - - - 16.98
Benchmark (%)   18.95 - - - 17.24
After Tax Pre-Liq. (%)   18.35 - - - 16.57
After Tax Post-Liq. (%)   10.90 - - - 12.95
as of
  YTD 1m 3m 6m 1y 3y 5y 10y Incept.
6.36 -1.04 2.57 6.36 18.74 - - - 20.89
Market Price (%)   6.42 -1.04 2.55 6.36 18.73 - - - 20.91
Benchmark (%)   6.51 -1.03 2.61 6.46 18.95 - - - 21.17
After Tax Pre-Liq. (%)   6.10 -1.11 2.49 6.18 18.35 - - - 20.40
After Tax Post-Liq. (%)   3.81 -0.53 1.52 3.74 10.90 - - - 15.89
as of
  2009 2010 2011 2012 2013

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
Sep 24, 2014 Sep 30, 2014 Sep 26, 2014 $0.184743 - - - -
Jun 25, 2014 Jul 1, 2014 Jun 27, 2014 $0.221351 - - - -
Mar 25, 2014 Mar 31, 2014 Mar 27, 2014 $0.202606 - - - -
Dec 23, 2013 Dec 30, 2013 Dec 26, 2013 $0.185093 $0.185093 $0.000000 $0.000000 $0.000000
Sep 24, 2013 Sep 30, 2013 Sep 26, 2013 $0.171262 $0.171262 $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 14, 2014

0.08%
Greatest Discount  

Jul 2, 2014

-0.01%
Days ± 0.5% of NAV 64
Percent ± 0.5% of NAV 100.00%
Select a Quarter   

Number of Days At:

Premium   47
NAV   9
Discount   8

Premium/Discount Range

# of Days

≥ 0.0 up to 0.5

56

≥ -0.5 up to 0.0

8

Chart Description  

Why is there a difference between NAV and Closing Price?  

Possible Timing Discrepancies  

Holdings

as of 17-Dec-2014

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

AAPL

APPLE INC

4.92 Information Technology $34,678,156 316,956 109.41 NASDAQ 34,678,155.96
holding-image

JNJ

JOHNSON & JOHNSON

4.84 Health Care $34,119,558 327,852 104.07 New York Stock Exchange Inc. 34,119,557.64
holding-image

XOM

EXXON MOBIL CORP

4.77 Energy $33,627,928 377,757 89.02 New York Stock Exchange Inc. 33,627,928.14
holding-image

MSFT

MICROSOFT CORP

4.68 Information Technology $32,969,346 720,799 45.74 NASDAQ 32,969,346.26
holding-image

GILD

GILEAD SCIENCES INC

4.27 Health Care $30,096,486 293,911 102.40 NASDAQ 30,096,486.40
holding-image

HD

HOME DEPOT INC

3.51 Consumer Discretionary $24,720,357 249,852 98.94 New York Stock Exchange Inc. 24,720,356.88
holding-image

IBM

INTERNATIONAL BUSINESS MACHINES CO

3.42 Information Technology $24,074,828 158,460 151.93 New York Stock Exchange Inc. 24,074,827.80
holding-image

V

VISA INC CLASS A

2.91 Information Technology $20,503,332 79,139 259.08 New York Stock Exchange Inc. 20,503,332.12
holding-image

ORCL

ORACLE CORP

2.87 Information Technology $20,222,196 491,307 41.16 New York Stock Exchange Inc. 20,222,196.12
holding-image

MA

MASTERCARD INC CLASS A

2.70 Information Technology $19,013,920 224,406 84.73 New York Stock Exchange Inc. 19,013,920.38
Ticker ISIN SEDOL Name Weight (%) Sector Market Value Shares Price Exchange Notional Value
Holdings are subject to change.

Exposure Breakdowns

as of 17-Dec-2014

% of Market Value

Information Technology

33.52%

Consumer Discretionary

20.29%

Health Care

17.20%

Industrials

12.31%

Consumer Staples

6.70%

Energy

5.24%

Materials

2.45%

Financials

2.09%

Cash and/or Derivatives

0.18%

Allocations are subject to change.

KEY FACTS

Net Assets

as of 18-Dec-2014

$724,053,707
Inception Date Jul 16, 2013
Exchange NYSE Arca
Asset Class Equities
Benchmark Index MSCI USA Quality Index
Index Ticker M2USQU

Shares Outstanding 11,550,000
Number of Holdings

as of 17-Dec-2014

126
CUSIP 46432F339
Closing Price  

as of 18-Dec-2014

62.71
20 Day Avg. Volume   7,419
Premium/Discount  

as of 18-Dec-2014

-0.01%
Options Available No

FEES as of 31-Jul-2014

Expense Ratio  

0.15%

PORTFOLIO CHARACTERISTICS

P/E Ratio  

as of 17-Dec-2014

20.56
P/B Ratio  

as of 17-Dec-2014

5.50

Equity Beta  

as of 28-Nov-2014

1.03
Standard Deviation (3y)  

as of -

-

12m Trailing Yield  

as of 30-Nov-2014

1.27%
Distribution Yield  

as of 30-Nov-2014

1.23%
30 Day SEC Yield  

as of 30-Nov-2014

1.79%

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.

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. "FTSE®" is a trademark of London Stock Exchange Group companies and is used by FTSE under license.

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