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This information must be preceded or accompanied by a current prospectus. Investors should read and consider it carefully before investing. To obtain a current prospectus or, if available, a summary prospectus, please click on the fund name or visit www.iShares.com or www.blackrock.com. 

Investing involves risk, including possible loss of principal.

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 which may be obtained by visiting the SEC Edgar database. Read the prospectus carefully before investing.

The closing price and net asset value (NAV) of a fund’s shares will fluctuate with market conditions. Closed-end funds may trade at a premium to NAV but often trade at a discount. CEF shares are bought and sold at “market price” determined by competitive bidding on the stock exchange. Net asset value (NAV) is the value of all fund assets, less liabilities divided by the number of shares outstanding.

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.

Performance shown may reflect fee waivers and/or expense reimbursements by the investment advisor to the fund for some or all of the periods shown. Performance would have been lower without such waivers.

Performance shown for certain share classes of certain funds is synthetic, pre-inception performance leveraging the performance of a different share class of the fund. In such instances, the relevant share class-specific fee is applied to the synthetic, pre-inception performance to show how the share class would have performed had it existed over the time period shown. When evaluating fund performance, it is important to note that it does not represent actual performance of such share class. All performance after inception of the share class is actual performance. For details regarding which funds and share classes leverage synthetic, pre-inception performance, please visit this page.

Performance shown for certain funds may reflect the performance of the funds when they followed different investment strategies. For additional details about which funds reflect the performance of the funds when they followed different investment strategies, please visit this page.

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 Barclays, Bloomberg Finance L.P., Cohen & Steers Capital Management, Inc., European Public Real Estate Association (“EPRA® ”), FTSE International Limited (“FTSE”), ICE Data Services, LLC, India Index Services & Products Limited, JPMorgan Chase & Co., Japan Exchange Group, 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 or S&P Dow Jones Indices LLC. None of these companies make any representation regarding the advisability of investing in the Funds. BlackRock Investments, LLC is not affiliated with the companies listed above.

Neither FTSE nor NAREIT makes any warranty regarding the FTSE NAREIT Equity REITS Index, FTSE NAREIT All Residential 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-U.S. Index, FTSE EPRA/NAREIT Developed Europe Index or FTSE EPRA/NAREIT Global REIT 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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