iShares Russell Mid-Cap Index Fund | BRMAX

Overview

Investment Approach

Seeks to track the investment results of the Russell Midcap® Index (the "Underlying Index"), which measures the performance of the mid-capitalization sector of the U.S. equity market. The Underlying Index is a float-adjusted, capitalization-weighted index of the 800 smallest issuers in the Russell 1000® Index. The Underlying Index includes equity securities issued by issuers which range in size between approximately $3 billion and $23 billion, although this range may change from time to time. The Fund generally invests at least 90% of its assets, plus the amount of any borrowing for investment purposes, in securities of the Underlying Index.

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Performance

Returns

Average Annual
Cumulative
Calendar Year

	1y	3y	5y	10y	Incept. Performance data for certain classes of shares of certain funds are based on pre-class inception information dating back to an older class of fund shares. This information may be considered when assessing a fund's performance, but it does not represent actual performance of these classes of shares. The inception date noted under Key Fund Facts is the date the class of shares was incepted. See fund prospectus or fact sheet for details.
Total Return (%) Total return represents changes to the NAV and accounts for distributions from the fund. as of Dec 31, 2019	29.98	11.69	-	-	8.95
Benchmark (%) Index: Russell MidCap Index.<br /><br /> 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. as of Dec 31, 2019	30.54	12.06	-	-	9.24
Morningstar Category Avg. (%) Mid-Cap Blend as of Dec 31, 2019	26.21	9.15	7.15	11.09	-
Morningstar Ranking Rankings are based on total return excluding sales charges, independently calculated and not combined to create an overall ranking. as of Dec 31, 2019	102/404	58/361	-	-	-
Morningstar Quartile Rankings based on total return excluding sales charges, independently calculated and not combined to create an overall ranking. as of Dec 31, 2019	1	1	-	-	-
Lipper Ranking Rankings are based on total return excluding sales charges. as of Dec 31, 2019	101/360	49/326	-	-	-
Lipper Quartile Rankings are based on total return excluding sales charges. as of Dec 31, 2019	2	1	-	-	-

Missing average annual returns data

	YTD	1m	3m	1y	3y	5y	10y	Incept. Performance data for certain classes of shares of certain funds are based on pre-class inception information dating back to an older class of fund shares. This information may be considered when assessing a fund's performance, but it does not represent actual performance of these classes of shares. The inception date noted under Key Fund Facts is the date the class of shares was incepted. See fund prospectus or fact sheet for details.
Total Return (%) Total return represents changes to the NAV and accounts for distributions from the fund. as of Dec 31, 2019	29.98	2.24	6.93	29.98	39.32	-	-	48.78
Benchmark (%) Index: Russell MidCap Index.<br /><br /> 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. as of Dec 31, 2019	30.54	2.29	7.06	30.54	40.70	-	-	50.54
Morningstar Category Avg. (%) Mid-Cap Blend as of Dec 31, 2019	26.21	2.38	7.07	26.21	30.03	41.22	186.25	-

Missing cumulative returns data

	2015	2016	2017	2018	2019
Total Return (%) Total return represents changes to the NAV and accounts for distributions from the fund.	-	13.52	18.05	-9.20	29.98
Benchmark (%) Index: Russell MidCap Index<br /><br /> 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.	-	13.80	18.52	-9.06	30.54
Morningstar Category Avg. (%) Mid-Cap Blend	-4.75	14.14	15.93	-11.15	26.21

Missing calendar year returns data

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. The performance information for periods prior to the inception date of the share class is based on the Fund’s Institutional Shares, adjusted to reflect the fees and expenses applicable to such share class. See the fund prospectus for more details.

Growth of Hypothetical $10,000 The growth of hypothetical $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.

Performance chart data not available for display.

Distributions

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Recent
Calendar Year

Chart
Table

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Ex-Date	Payable Date	Record Date	Total Distribution Current year distributions are not classified as “Income,” “Short-Term Capital Gains,” “Long-Term Capital Gains,” or “Return of Capital” until approximately 60 days following calendar year-end.	Income	ST Cap Gains	LT Cap Gains	Return of Capital

Chart
Table

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Year	Total Distribution Current year distributions are not classified as “Income,” “Short-Term Capital Gains,” “Long-Term Capital Gains,” or “Return of Capital” until calendar year-end.	Income	ST Cap Gains	LT Cap Gains

Past distributions are not indicative of future distributions.
Click here, for the most recent distributions.

Key Facts

Size of Class (Millions) as of Jan 23, 2020 $106.9 M

Size of Fund (Millions) as of Jan 23, 2020 $1,331.5 M

Share Class launch date Nov 30, 2015

Asset Class Equity

Morningstar Category Mid-Cap Blend

Lipper Classification Mid-Cap Core Funds

Benchmark Index Russell MidCap Index

CUSIP 09258N307

Distribution Frequency How often a distribution is paid by the fund. The most common distribution frequencies are annually, biannually and quarterly. Quarterly

Number of Holdings as of Dec 31, 2019 803

Max Offer Price as of Jan 23, 2020 $11.53

Open to New Investors Yes

Turnover Percent as of Dec 31, 2019 25%

Portfolio Characteristics

P/E Ratio The price to earnings ratio is a fundamental measure used to determine if an investment is valued appropriately. Each holdings' P/E is the latest closing price divided by the latest 12 months' earnings per share. Negative earnings are excluded, extraordinary items are excluded, and P/E ratios over 60 are set to 60. as of Dec 31, 2019 21.59

P/B Ratio The price to book (P/B) value ratio is a fundamental measure used to determine if an investment is valued appropriately. The book value of a company is a measure of how much a company's assets are worth assuming the company's debts are paid off. Negative book values are excluded from this calculation and holding price to book ratios over 25 are set to 25. as of Dec 31, 2019 2.74

Average Market Cap (Millions) The average size of the securities the fund invests in. as of Dec 31, 2019 $ 17,596.8 M

This information must be preceded or accompanied by a current prospectus. For standardized performance, please see the Performance section above.

Fees

as of current prospectus

Gross Expense Ratio	0.34%
Net Expense Ratio The difference between gross and net expense ratios are due to contractual and/or voluntary waivers, if applicable. Any applicable contractual waiver will be terminable upon 90 days’ notice. BlackRock may agree to voluntarily waive certain fees and expenses, which the adviser may discontinue at any time without notice. For this share class, the contractual waiver end date is Nov 30, 2020.	0.34%

Net Expense Ratio excluding Investment Related Expenses is 0.34%

Ratings

Morningstar Rating

Overall iShares Russell Mid-Cap Index Fund received a Morningstar Rating of 4 stars for the 3-year period, - stars for the 5-year period and - stars for the 10-year period, rated against 361, 292 and 220 Mid-Cap Blend Funds, respectively. Performance results represent past performance and are no guarantee of future results. The Morningstar RatingTM for funds, or "star rating", is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product's monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods. Morningstar Ratings are for the share classes cited only; other classes may have different ratings.

Overall Morningstar Rating for iShares Russell Mid-Cap Index Fund, Class A, as of Dec 31, 2019 rated against 361 Mid-Cap Blend Funds based on risk adjusted total return.

Lipper Leader

Lipper Leader Ratings

Consistent Return iShares Russell Mid-Cap Index Fund received the following Consistent Return ratings for the 3-, 5-, and 10-year periods, respectively: 5 (326 funds), - ( funds), and - ( funds). Lipper ratings for Consistent Return reflect funds' historical risk-adjusted returns, adjusted for volatility, relative to peers.

Expense iShares Russell Mid-Cap Index Fund received the following Expense ratings for the 3-, 5-, and 10-year periods, respectively: 5 (95 funds), - ( funds), and - ( funds). Lipper ratings for Expense reflect funds' expense minimization relative to peers with similar load structures.

Preservation iShares Russell Mid-Cap Index Fund received the following Preservation ratings for the 3-, 5-, and 10-year periods, respectively: 4 (12,253 funds), - ( funds), and - ( funds). Lipper ratings for Preservation reflect funds' historical loss avoidance relative to other funds within the same asset class. Preservation ratings are relative, rather than absolute, measures, and funds named Lipper Leaders for Preservation may still experience losses periodically; those losses may be larger for equity and mixed equity funds than for fixed income funds.

Total Return iShares Russell Mid-Cap Index Fund received the following Total Return ratings for the 3-, 5-, and 10-year periods, respectively: 5 (326 funds), - ( funds), and - ( funds). Lipper ratings for Total Return reflect funds' historical total return performance relative to peers.

Overall Lipper Leaders ratings based on an equal-weighted average of percentile ranks for each measure over 3-, 5-, and 10-year periods (if applicable) and do not take into account the effects of sales charges for these categories (Consistent Return, Preservation, Total Return, Expense, and Tax Efficiency) as of Dec 31, 2019 out of 326, 12,253, 326, 95 and 326 Funds, respectively in Lipper's Mid-Cap Core Funds classification.

Holdings

as of Dec 31, 2019

Name	Weight (%)
FISERV INC	0.81
GLOBAL PAYMENTS INC	0.67
ISHARES RUSSELL MIDCAP INDEX FUND	0.61
ADVANCED MICRO DEVICES INC	0.59
L3HARRIS TECHNOLOGIES INC	0.54

Name	Weight (%)
SEMPRA ENERGY	0.53
LAM RESEARCH CORPORATION	0.52
DOLLAR GENERAL CORPORATION	0.50
NEWMONT GOLDCORP CORP	0.44
XCEL ENERGY INC	0.41

as of Dec 31, 2019

% of Market Value

Type	Fund	Benchmark	Net

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as of Dec 31, 2019

% of Market Value

Type	Fund	Benchmark	Net

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as of Dec 31, 2019

% of Market Value

Type	Fund	Benchmark	Net

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as of Dec 31, 2019

% of Market Value

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Negative weightings may result from specific circumstances (including timing differences between trade and settle dates of securities purchased by the funds) and/or the use of certain financial instruments, including derivatives, which may be used to gain or reduce market exposure and/or risk management.

Allocations are subject to change.

Portfolio Managers

Head of Americas ETF and Index Investment

Rachel Aguirre

Jennifer Hsui

Head of Americas Index Asset Allocation

Head of Americas iShares Equity Portfolio Management

Portfolio Manager

Literature

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Important Information

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 Fund and BlackRock Fund prospectus pages. Read the prospectus carefully before investing.

Performance results reflect past performance and are no guarantee of future results. Investment return and principal value of shares will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. All returns assume reinvestment of all dividends. Performance information shown without sales charge would have been lower if the applicable sales charge had been included. Performance during periods of exceptional market conditions should not be expected to be repeated in a normal market environment. Current performance may be lower or higher than the performance data quoted.

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. 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.

Investing involves risk, including possible loss of principal.

Fund details, holdings and characteristics are as of the date noted and subject to change.

Yields are based on income earned for the period cited and on the Fund's NAV at the end of the period.

Some BlackRock funds make distributions of ordinary income and capital gains at calendar year end. Those distributions temporarily cause extraordinarily high yields. There is no assurance that a fund will repeat that yield in the future. Subsequent monthly distributions that do not include ordinary income or capital gains in the form of dividends will likely be lower.

The Funds are distributed by BlackRock Investments, LLC (together with its affiliates, “BlackRock”).

© 2020 BlackRock, Inc. All rights reserved. BLACKROCK, BLACKROCK SOLUTIONS, BUILD ON BLACKROCK, ALADDIN, iSHARES, iBONDS, iSHARES CONNECT, FUND FRENZY, LIFEPATH, SO WHAT DO I DO WITH MY MONEY, INVESTING FOR A NEW WORLD, BUILT FOR THESE TIMES, the iShares Core Graphic, 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.

USRMH0519U-851467

Performance

Performance

Returns

Growth of Hypothetical $10,000 The growth of hypothetical $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.

Distributions

Key Facts

Key Facts

Portfolio Characteristics

Portfolio Characteristics

Fees

Fees

Ratings

Ratings

Morningstar Rating

Lipper Leader

Holdings

Holdings

Exposure Breakdowns

Exposure Breakdowns

Portfolio Managers

Portfolio Managers

Literature

Literature

Important Information