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.
- - - - -
Market Price (%)   - - - - -
Benchmark (%)   - - - - -
After Tax Pre-Liq. (%)   - - - - -
After Tax Post-Liq. (%)   - - - - -
  YTD 1m 3m 6m 1y 3y 5y 10y Incept.
- 0.16 - - - - - - 1.69
Market Price (%)   - 0.20 - - - - - - 1.69
Benchmark (%)   - 0.18 - - - - - - 1.69
After Tax Pre-Liq. (%)   - 0.01 - - - - - - 1.53
After Tax Post-Liq. (%)   - 0.09 - - - - - - 0.95
  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
Jul 2, 2014 Jul 9, 2014 Jul 7, 2014 $0.052809 - - - -
Jun 3, 2014 Jun 9, 2014 Jun 5, 2014 $0.091226 - - - -

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 28, 2014

0.17%
Greatest Discount  

May 27, 2014

-0.14%
Days ± 0.5% of NAV 47
Percent ± 0.5% of NAV 100.00%
Select a Quarter   

Number of Days At:

Premium   32
NAV   3
Discount   12

Premium/Discount Range

# of Days

≥ 0.0 up to 0.5

35

≥ -0.5 up to 0.0

12

Chart Description  

Why is there a difference between NAV and Closing Price?  

Possible Timing Discrepancies  

Holdings

as of 21-Jul-2014

Holding Sector Asset Class Weight (%) Country Market Value Shares Price ISIN SEDOL Exchange Currency Maturity Coupon (%) Duration Mod. Duration YTM (%) Yield to Call (%) Yield to Worst (%)
holding-image

MBB

ISHARES MBS ETF

- EQ 30.06 United States $2,276,938 21,073 108.05 US4642885887 B1VKHR1 ARCX USD - 0.00 4.30 - 2.54 - 2.54
holding-image

CIU

ISHARES INTERMEDIATE CREDIT BOND E

- EQ 27.90 United States $2,112,688 19,208 109.99 US4642886380 B1MYR27 ARCX USD - 0.00 4.20 - 2.15 - 2.14
holding-image

HYG

ISHARES IBOXX USD HIGH YIELD CORPO

- EQ 19.78 United States $1,498,208 15,986 93.72 US4642885135 B1VZ486 ARCX USD - 0.00 4.01 - 5.57 - 5.04
holding-image

AGZ

ISHARES AGENCY BOND ETF

- EQ 10.01 United States $758,385 6,740 112.52 US4642881662 B3FFSM8 ARCX USD - 0.00 3.65 - 1.34 - 1.32
holding-image

TLT

ISHARES 20+ YEAR TREASURY BOND ETF

- EQ 6.20 United States $469,912 4,083 115.09 US4642874329 2971546 ARCX USD - 0.00 16.86 - 3.22 - 3.22
holding-image

CSJ

ISHARES 1-3 YEAR CREDIT BOND ETF

- EQ 6.02 United States $455,601 4,323 105.39 US4642886463 B1MYR50 ARCX USD - 0.00 1.92 - 0.94 - 0.94
holding-image

BLKFDS

BLK CSH FND TREASURY SL AGENCY

- CA 0.02 United States $1,179 1,179 1.00 US0669224778 - - USD - 0.15 0.00 - 0.15 - 0.15
Ticker Name Sector Asset Class Country Weight (%) Market Value Shares Price ISIN SEDOL Exchange Currency Maturity Coupon (%) Duration Mod. Duration YTM (%) Yield to Call (%) Yield to Worst (%)
Ticker Name Sector Asset Class Country Weight (%) Market Value Shares Price ISIN SEDOL Exchange Currency Maturity Coupon (%) Duration Mod. Duration YTM (%) Yield to Call (%) Yield to Worst (%)
Holdings are subject to change.

Exposure Breakdowns

as of 21-Jul-2014
  United States 72.84%
  Supranational 2.82%
  Canada 2.46%
  United Kingdom 1.62%
  Germany 1.46%
  Other 7.74%
as of 21-Jul-2014

% of Market Value

CONVENTIONAL 30 YR

16.17%

Industrial

14.38%

Agencies

12.68%

Financial Institutions

9.71%

GNMA 30 YR

6.70%

Treasuries

6.20%

CONVENTIONAL 15 YR

4.50%

Consumer Services

2.98%

Oil & Gas

2.83%

Supranational

2.82%

Telecommunications

2.67%

Financials

2.58%

Industrials

2.23%

Health Care

1.78%

Other/Undefined

1.65%

Utility

1.40%

Consumer Goods

1.31%

Basic Materials

1.23%

Technology

1.23%

Sovereign

1.21%

Utilities

0.81%

CONVENTIONAL 20 YR

0.78%

LOCAL AUTHORITIES

0.68%

Financial

0.65%

OWNED NO GUARANTEE

0.47%

7/1 ARM

0.13%

5/1 ARM

0.11%

GNMA 15 YR

0.09%

Telecommunication Services

0.02%

3/1 ARM

0.01%

Oil Gas & Consumable Fuels

0.01%

AGENCY HYBRID ARMS

0.01%

Integrated Energy

0.00%

Allocations subject to change.

KEY FACTS

Net Assets

as of 22-Jul-2014

$7,578,962
Inception Date Apr 22, 2014
Exchange NYSE Arca
Asset Class Fixed Income
Benchmark Index Morningstar U.S. Bond Market Yield-Optimized Index
Index Ticker -

Shares Outstanding 300,000
Number of Holdings

as of 21-Jul-2014

4,666
CUSIP 46434V787
Price  

as of 22-Jul-2014

25.28
20 Day Avg. Volume 1,164
Premium/Discount  

as of 22-Jul-2014

-0.01%
Options Available No

FEES
Expense Ratio   0.55%
Fee Waiver   0.27%
Expense Ratio (including waivers) 0.28%

For more information on S&P fund credit ratings, please click here.

PORTFOLIO CHARACTERISTICS

Equity Beta  

as of -

-
Standard Deviation (3y)  

as of -

-

12m Trailing Yield  

as of -

-
Distribution Yield  

as of 30-Jun-2014

4.27%
30 Day SEC Yield  

as of 30-Jun-2014

2.63%

Weighted Avg Coupon  

as of 21-Jul-2014

0.00%
Weighted Avg Maturity  

as of 21-Jul-2014

6.18 yrs
Effective Duration  

as of 21-Jul-2014

4.79 yrs
Weighted Avg YTM  

as of 21-Jul-2014

2.75%
Option Adjusted Spread  

as of 21-Jul-2014

98 bps

% Stock 0.00%
% Bond 88.46%
% Cash 0.49%
% Other  

as of 21-Jul-2014

11.05%

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

More Products

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.

Fixed income risks include interest-rate and credit risk. Typically, when interest rates rise, there is a corresponding decline in bond values. Credit risk refers to the possibility that the bond issuer will not be able to make principal and interest payments.

Non-investment-grade debt securities (high-yield/junk bonds) may be subject to greater market fluctuations, risk of default or loss of income and principal than higher-rated securities.

Mortgage-backed securities ("MBS") and commercial mortgage-backed securities ("CMBS") are subject to prepayment and extension risk and therefore react differently to changes in interest rates than other bonds. Small movements in interest rates may quickly and significantly reduce the value of certain mortgage-backed securities.

An investment in the Fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency and its return and yield will fluctuate with market conditions.

Investment in the Fund is subject to the risk of the underlying Funds.

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.

©2014 BlackRock, Inc. All rights reserved. BLACKROCK, BLACKROCK SOLUTIONS, ALADDIN, iSHARES, iBONDS, iSHARESBOND, iSHARESBONDS, 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-12294