Index Objective

The BlackRock iBLD® Claria® Index (“Index”) is designed to provide exposure to a diversified global equity portfolio which targets volatility at a predetermined level. The Index uses a dynamic process whereby it is rebalanced each day to adjust allocations between the Equity and Fixed income baskets. Using historical 20-day and 40-day volatility measures, Index capital moves from the equity basket to the fixed income basket or back as historical volatility deviates from the target. The Index is constructed from iShares® ETFs.