0001193125-19-303394.txt : 20191129 0001193125-19-303394.hdr.sgml : 20191129 20191129150803 ACCESSION NUMBER: 0001193125-19-303394 CONFORMED SUBMISSION TYPE: 497K PUBLIC DOCUMENT COUNT: 6 FILED AS OF DATE: 20191129 DATE AS OF CHANGE: 20191129 EFFECTIVENESS DATE: 20191129 FILER: COMPANY DATA: COMPANY CONFORMED NAME: iSHARES TRUST CENTRAL INDEX KEY: 0001100663 IRS NUMBER: 943351276 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 497K SEC ACT: 1933 Act SEC FILE NUMBER: 333-92935 FILM NUMBER: 191261063 BUSINESS ADDRESS: STREET 1: 400 HOWARD STREET CITY: SAN FRANCISCO STATE: CA ZIP: 94105 BUSINESS PHONE: (415) 670-2000 MAIL ADDRESS: STREET 1: 400 HOWARD STREET CITY: SAN FRANCISCO STATE: CA ZIP: 94105 FORMER COMPANY: FORMER CONFORMED NAME: ISHARES TRUST DATE OF NAME CHANGE: 19991213 0001100663 S000049573 iShares Edge MSCI Intl Value Factor ETF C000156614 iShares Edge MSCI Intl Value Factor ETF IVLU 497K 1 d742181d497k.htm FORM 497K Form 497K
November 29, 2019
   
    
2019 Summary Prospectus
•  iShares Edge MSCI Intl Value Factor ETF | IVLU |  NYSE ARCA
Before you invest, you may want to review the Fund’s prospectus, which contains more information about the Fund and its risks. You can find the Fund’s prospectus (including amendments and supplements) and other information about the Fund, including the Fund’s statement of additional information and shareholder report, online at https://www.ishares.com/prospectus. You can also get this information at no cost by calling 1-800-iShares (1-800-474-2737) or by sending an e-mail request to iSharesETFs@blackrock.com, or from your financial professional. The Fund’s prospectus and statement of additional information, both dated November 29, 2019, as amended and supplemented from time to time, are incorporated by reference into (legally made a part of) this Summary Prospectus.
Beginning on January 1, 2021, as permitted by regulations adopted by the Securities and Exchange Commission (“SEC”), paper copies of the Fund’s shareholder reports will no longer be sent by mail, unless you specifically request paper copies of the reports from your financial intermediary, such as a broker-dealer or bank. Instead, the reports will be made available on a website, and you will be notified by mail each time a report is posted and provided with a website link to access the report.
If you already elected to receive shareholder reports electronically, you will not be affected by this change and you need not take any action. If you hold accounts through a financial intermediary, you may contact your financial intermediary to enroll in electronic delivery. Please note that not all financial intermediaries may offer this service.
You may elect to receive all future reports in paper free of charge. If you hold accounts through a financial intermediary, you can follow the instructions included with this disclosure, if applicable, or contact your financial intermediary to request that you continue to receive paper copies of your shareholder reports. Please note that not all financial intermediaries may offer this service. Your election to receive reports in paper will apply to all funds held with your financial intermediary.
The SEC has not approved or disapproved these securities or passed upon the adequacy of this prospectus. Any representation to the contrary is a criminal offense.

 

iSHARES® EDGE MSCI INTL
VALUE FACTOR ETF
Ticker: IVLU Stock Exchange: NYSE Arca
Investment Objective
The iShares Edge MSCI Intl Value Factor ETF (the “Fund”) seeks to track the investment results of an index composed of international developed large- and mid-capitalization stocks with value characteristics and relatively lower valuations.
Fees and Expenses
The following table describes the fees and expenses that you will incur if you own shares of the Fund. The investment advisory agreement between iShares Trust (the “Trust”) and BlackRock Fund Advisors (“BFA”) (the “Investment Advisory Agreement”) provides that BFA will pay all operating expenses of the Fund, except the management fees, interest expenses, taxes, expenses incurred with respect to the acquisition and disposition of portfolio securities and the execution of portfolio transactions, including brokerage commissions, distribution fees or expenses, litigation expenses and any extraordinary expenses.
You may also incur usual and customary brokerage commissions and other charges when buying or selling shares of the Fund, which are not reflected in the Example that follows:
Annual Fund Operating Expenses
(ongoing expenses that you pay each year as a
percentage of the value of your investments)
Management
Fees 		  Distribution and
Service (12b-1)
Fees 		  Other
Expenses1 		  Total Annual
Fund
Operating
Expenses
0.30%   None   0.00%   0.30%
1 The amount rounded to 0.00%.
Example. This Example is intended to help you compare the cost of owning shares of the Fund with the cost of investing in other funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then sell all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions, your costs would be:
1 Year   3 Years   5 Years   10 Years
$31   $97   $169   $381
S-1

 

Portfolio Turnover. The Fund may pay transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in the Annual Fund Operating Expenses or in the Example, affect the Fund’s performance. During the most recent fiscal year, the Fund's portfolio turnover rate was 20% of the average value of its portfolio.
Principal Investment Strategies
The Fund seeks to track the investment results of the MSCI World ex USA Enhanced Value Index (the “Underlying Index”), which is based on a traditional market capitalization-weighted parent index, the MSCI World ex USA Index (the “Parent Index”). The Parent Index includes equity securities in the top 85% of equity market capitalization in developed market countries, as defined by the Index Provider, excluding the U.S. The Underlying Index is designed to represent the performance of securities that exhibit higher value style characteristics relative to their peers within the corresponding Global Industry Classification Standard (GICS®) sector. The value style characteristics for index construction are defined by MSCI Inc. (the “Index Provider” or “MSCI”) using three accounting variables based on publicly reported financial data: price-to-book value, price-to-forward earnings and enterprise value-to-cash flow from operations. The Index Provider calculates a “value score” based on these three variables. MSCI assigns
weights by multiplying a component's value score by its market capitalization. Weights in the Underlying Index are next normalized so that sectors in the Underlying Index represent the same weight as in the Parent Index. MSCI uses an algorithm to determine the number of components in the Underlying Index based on the number of constituents in the Parent Index. The number of components is evaluated semi-annually.
As of July 31, 2019, the Underlying Index consisted of securities from 350 companies in the following 20 countries or regions: Australia, Austria, Belgium, Canada, Denmark, Finland, France, Germany, Hong Kong, Ireland, Israel, Italy, Japan, the Netherlands, Norway, Singapore, Spain, Sweden, Switzerland and the United Kingdom (the “U.K.”). The Underlying Index includes large- and mid-capitalization companies. As of July 31, 2019, a significant portion of the Underlying Index is represented by securities of companies in the financials industry or sector. The components of the Underlying Index are likely to change over time.
BFA uses a “passive” or indexing approach to try to achieve the Fund’s investment objective. Unlike many investment companies, the Fund does not try to “beat” the index it tracks and does not seek temporary defensive positions when markets decline or appear overvalued.
Indexing may eliminate the chance that the Fund will substantially outperform the Underlying Index but also may reduce some of the risks of active management, such as poor security selection. Indexing seeks to achieve lower costs and better after-tax performance by aiming to keep portfolio
S-2

 

turnover low in comparison to actively managed investment companies.
BFA uses a representative sampling indexing strategy to manage the Fund. “Representative sampling” is an indexing strategy that involves investing in a representative sample of securities that collectively has an investment profile similar to that of an applicable underlying index. The securities selected are expected to have, in the aggregate, investment characteristics (based on factors such as market capitalization and industry weightings), fundamental characteristics (such as return variability and yield) and liquidity measures similar to those of an applicable underlying index. The Fund may or may not hold all of the securities in the Underlying Index.
The Fund generally will invest at least 90% of its assets in the component securities of the Underlying Index and in investments that have economic characteristics that are substantially identical to the component securities of the Underlying Index (i.e., depositary receipts representing securities of the Underlying Index) and may invest up to 10% of its assets in certain futures, options and swap contracts, cash and cash equivalents, including shares of money market funds advised by BFA or its affiliates, as well as in securities not included in the Underlying Index, but which BFA believes will help the Fund track the Underlying Index. The Fund seeks to track the investment results of the Underlying Index before fees and expenses of the Fund.
The Fund may lend securities representing up to one-third of the value of the Fund's total assets (including the value of any collateral received).
The Underlying Index and Parent Index are sponsored by MSCI, which is independent of the Fund and BFA. The Index Provider determines the composition and relative weightings of the securities in the Underlying Index and Parent Index and publishes information regarding the market value of the Underlying Index and Parent Index.
Industry Concentration Policy. The Fund will concentrate its investments (i.e., hold 25% or more of its total assets) in a particular industry or group of industries to approximately the same extent that the Underlying Index is concentrated. For purposes of this limitation, securities of the U.S. government (including its agencies and instrumentalities) and repurchase agreements collateralized by U.S. government securities are not considered to be issued by members of any industry.
Summary of Principal Risks
As with any investment, you could lose all or part of your investment in the Fund, and the Fund's performance could trail that of other investments. The Fund is subject to certain risks, including the principal risks noted below, any of which may adversely affect the Fund's net asset value per share (“NAV”), trading price, yield, total return and ability to meet its investment objective. The order of the below risk factors does not indicate the significance of any particular risk factor.
Asset Class Risk. Securities and other assets in the Underlying Index or in the Fund's portfolio may underperform in comparison to the general financial markets, a particular financial market or other asset classes.
S-3

 

Authorized Participant Concentration Risk. Only an Authorized Participant (as defined in the Creation and Redemptions section of this prospectus (the “Prospectus”)) may engage in creation or redemption transactions directly with the Fund, and none of those Authorized Participants is obligated to engage in creation and/or redemption transactions. The Fund has a limited number of institutions that may act as Authorized Participants on an agency basis (i.e., on behalf of other market participants). To the extent that Authorized Participants exit the business or are unable to proceed with creation or redemption orders with respect to the Fund and no other Authorized Participant is able to step forward to create or redeem Creation Units (as defined in the Purchase and Sale of Fund Shares section of the Prospectus), Fund shares may be more likely to trade at a premium or discount to NAV and possibly face trading halts or delisting. Authorized Participant concentration risk may be heightened for exchange-traded funds (“ETFs”), such as the Fund, that invest in securities issued by non-U.S. issuers or other securities or instruments that have lower trading volumes.
Calculation Methodology Risk. The Underlying Index relies on various sources of information to assess the criteria of issuers included in the Underlying Index, including information that may be based on assumptions and estimates. Neither the Fund nor BFA can offer assurances that the Underlying Index’s calculation methodology or sources of information will provide an accurate assessment of included issuers.
Concentration Risk. The Fund may be susceptible to an increased risk of loss,
including losses due to adverse events that affect the Fund’s investments more than the market as a whole, to the extent that the Fund's investments are concentrated in the securities of a particular issuer or issuers, country, group of countries, region, market, industry, group of industries, sector or asset class.
Cybersecurity Risk. Failures or breaches of the electronic systems of the Fund, the Fund's adviser, distributor, the Index Provider and other service providers, market makers, Authorized Participants or the issuers of securities in which the Fund invests have the ability to cause disruptions, negatively impact the Fund’s business operations and/or potentially result in financial losses to the Fund and its shareholders. While the Fund has established business continuity plans and risk management systems seeking to address system breaches or failures, there are inherent limitations in such plans and systems. Furthermore, the Fund cannot control the cybersecurity plans and systems of the Fund’s Index Provider and other service providers, market makers, Authorized Participants or issuers of securities in which the Fund invests.
Equity Securities Risk. Equity securities are subject to changes in value, and their values may be more volatile than those of other asset classes. The Underlying Index is comprised of common stocks, which generally subject their holders to more risks than preferred stocks and debt securities because common stockholders’ claims are subordinated to those of holders of preferred stocks and debt securities upon the bankruptcy of the issuer.
S-4

 

Financials Sector Risk. Performance of companies in the financials sector may be adversely impacted by many factors, including, among others, changes in government regulations, economic conditions, interest rates, credit rating downgrades, and decreased liquidity in credit markets. The extent to which the Fund may invest in a company that engages in securities-related activities or banking is limited by applicable law. The impact of changes in capital requirements and recent or future regulation of any individual financial company, or of the financials sector as a whole, cannot be predicted. In recent years, cyberattacks and technology malfunctions and failures have become increasingly frequent in this sector and have caused significant losses to companies in this sector, which may negatively impact the Fund.
Geographic Risk. A natural disaster could occur in a geographic region in which the Fund invests, which could adversely affect the economy or the business operations of companies in the specific geographic region, causing an adverse impact on the Fund's investments in the affected region.
Index-Related Risk. There is no guarantee that the Fund’s investment results will have a high degree of correlation to those of the Underlying Index or that the Fund will achieve its investment objective. Market disruptions and regulatory restrictions could have an adverse effect on the Fund’s ability to adjust its exposure to the required levels in order to track the Underlying Index. Errors in index data, index computations or the construction of the Underlying Index in accordance with its methodology may occur from time to time and may not be identified and corrected by the Index Provider for
a period of time or at all, which may have an adverse impact on the Fund and its shareholders.
Issuer Risk. The performance of the Fund depends on the performance of individual securities to which the Fund has exposure. Changes in the financial condition or credit rating of an issuer of those securities may cause the value of the securities to decline.
Large-Capitalization Companies Risk. Large-capitalization companies may be less able than smaller capitalization companies to adapt to changing market conditions. Large-capitalization companies may be more mature and subject to more limited growth potential compared with smaller capitalization companies. During different market cycles, the performance of large-capitalization companies has trailed the overall performance of the broader securities markets.
Management Risk. As the Fund will not fully replicate the Underlying Index, it is subject to the risk that BFA's investment strategy may not produce the intended results.
Market Risk. The Fund could lose money over short periods due to short-term market movements and over longer periods during more prolonged market downturns.
Market Trading Risk. The Fund faces numerous market trading risks, including the potential lack of an active market for Fund shares, losses from trading in secondary markets, periods of high volatility and disruptions in the creation/redemption process. ANY OF THESE FACTORS, AMONG OTHERS, MAY LEAD TO THE FUND'S SHARES TRADING AT A PREMIUM OR DISCOUNT TO NAV.
S-5

 

National Closed Market Trading Risk. To the extent that the underlying securities held by the Fund trade on foreign exchanges or in foreign markets that may be closed when the securities exchange on which the Fund’s shares trade is open, there are likely to be deviations between the current price of such an underlying security and the last quoted price for the underlying security (i.e., the Fund’s quote from the closed foreign market). These deviations could result in premiums or discounts to the Fund’s NAV that may be greater than those experienced by other ETFs.
Non-U.S. Securities Risk. Investments in the securities of non-U.S. issuers are subject to the risks associated with investing in those non-U.S. markets, such as heightened risks of inflation or nationalization. The Fund may lose money due to political, economic and geographic events affecting issuers of non-U.S. securities or non-U.S. markets. In addition, non-U.S. securities markets may trade a small number of securities and may be unable to respond effectively to changes in trading volume, potentially making prompt liquidation of holdings difficult or impossible at times. The Fund is specifically exposed to Asian Economic Risk and European Economic Risk.
Operational Risk. The Fund is exposed to operational risks arising from a number of factors, including, but not limited to, human error, processing and communication errors, errors of the Fund’s service providers, counterparties or other third-parties, failed or inadequate processes and technology or systems failures. The Fund and BFA seek to reduce these operational risks through controls and procedures. However, these measures do not
address every possible risk and may be inadequate to address significant operational risks.
Passive Investment Risk. The Fund is not actively managed, and BFA generally does not attempt to take defensive positions under any market conditions, including declining markets.
Reliance on Trading Partners Risk. The Fund invests in countries or regions whose economies are heavily dependent upon trading with key partners. Any reduction in this trading may have an adverse impact on the Fund's investments. Through its holdings of securities of certain issuers, the Fund is specifically exposed to Asian Economic Risk, European Economic Risk and U.S. Economic Risk.
Risk of Investing in Developed Countries. The Fund’s investment in developed country issuers may subject the Fund to regulatory, political, currency, security, economic and other risks associated with developed countries. Developed countries tend to represent a significant portion of the global economy and have generally experienced slower economic growth than some less developed countries. Certain developed countries have experienced security concerns, such as terrorism and strained international relations. Incidents involving a country’s or region’s security may cause uncertainty in its markets and may adversely affect its economy and the Fund’s investments. In addition, developed countries may be adversely impacted by changes to the economic conditions of certain key trading partners, regulatory burdens, debt burdens and the price or availability of certain commodities.
S-6

 

Risk of Investing in Japan. The Japanese economy may be subject to considerable degrees of economic, political and social instability, which could have a negative impact on Japanese securities. Since 2000, Japan’s economic growth rate has generally remained low relative to other advanced economies, and it may remain low in the future. In addition, Japan is subject to the risk of natural disasters, such as earthquakes, volcanic eruptions, typhoons and tsunamis, which could negatively affect the Fund. Japan’s relations with its neighbors have at times been strained, and strained relations may cause uncertainty in the Japanese markets and adversely affect the overall Japanese economy.
Securities Lending Risk. The Fund may engage in securities lending. Securities lending involves the risk that the Fund may lose money because the borrower of the loaned securities fails to return the securities in a timely manner or at all. The Fund could also lose money in the event of a decline in the value of collateral provided for loaned securities or a decline in the value of any investments made with cash collateral. These events could also trigger adverse tax consequences for the Fund.
Structural Risk. The countries in which the Fund invests may be subject to considerable degrees of economic, political and social instability.
Tracking Error Risk. The Fund may be subject to tracking error, which is the divergence of the Fund’s performance from that of the Underlying Index. Tracking error may occur because of differences between the securities and other instruments held in the Fund’s portfolio and those included in the Underlying Index, pricing
differences (including, as applicable, differences between a security’s price at the local market close and the Fund's valuation of a security at the time of calculation of the Fund's NAV), transaction costs incurred by the Fund, the Fund’s holding of uninvested cash, differences in timing of the accrual of or the valuation of dividends or interest, the requirements to maintain pass-through tax treatment, portfolio transactions carried out to minimize the distribution of capital gains to shareholders, changes to the Underlying Index or the costs to the Fund of complying with various new or existing regulatory requirements. This risk may be heightened during times of increased market volatility or other unusual market conditions. Tracking error also may result because the Fund incurs fees and expenses, while the Underlying Index does not.
Valuation Risk. The price the Fund could receive upon the sale of a security or other asset may differ from the Fund's valuation of the security or other asset and from the value used by the Underlying Index, particularly for securities or other assets that trade in low volume or volatile markets or that are valued using a fair value methodology as a result of trade suspensions or for other reasons. In addition, the value of the securities or other assets in the Fund's portfolio may change on days or during time periods when shareholders will not be able to purchase or sell the Fund's shares. Authorized Participants who purchase or redeem Fund shares on days when the Fund is holding fair-valued securities may receive fewer or more shares, or lower or higher redemption proceeds, than they would have received had the Fund not fair-valued securities or used a
S-7

 

different valuation methodology. The Fund’s ability to value investments may be impacted by technological issues or errors by pricing services or other third-party service providers.
Value Securities Risk. Securities issued by companies that may be perceived as undervalued may fail to appreciate for long periods of time and may never realize their full potential
value. The Index Provider may be unsuccessful in creating an index that emphasizes undervalued securities. Value securities have generally performed better than non-value securities during periods of economic recovery (although there is no assurance that they will continue to do so). Value securities may go in and out of favor over time.
S-8

 

Performance Information
The bar chart and table that follow show how the Fund has performed on a calendar year basis and provide an indication of the risks of investing in the Fund. Both assume that all dividends and distributions have been reinvested in the Fund. Past performance (before and after taxes) does not necessarily indicate how the Fund will perform in the future. Supplemental information about the Fund’s performance is shown under the heading Total Return Information in the Supplemental Information section of the Prospectus.
Year by Year Returns1 (Years Ended December 31)
1 The Fund’s year-to-date return as of September 30, 2019 was 6.08%.
The best calendar quarter return during the periods shown above was 8.61% in the 3rd quarter of 2016; the worst was -12.64% in the 4th quarter of 2018.
Updated performance information, including the Fund’s current NAV, may be obtained by visiting our website at www.iShares.com or by calling 1-800-iShares (1-800-474-2737) (toll free).
S-9

 

Average Annual Total Returns
(for the periods ended December 31, 2018)
  One Year   Since Fund
Inception
(Inception Date: 6/16/2015)      
Return Before Taxes -14.72%   -0.64%
Return After Taxes on Distributions1 -15.08%   -1.12%
Return After Taxes on Distributions and Sale of Fund Shares1 -8.13%   -0.35%
MSCI World ex USA Enhanced Value Index (Index returns do not reflect deductions for fees, expenses, or taxes) -14.71%   -0.62%
1 After-tax returns in the table above are calculated using the historical highest individual U.S. federal marginal income tax rates and do not reflect the impact of state or local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown, and after-tax returns shown are not relevant to tax-exempt investors or investors who hold shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts (“IRAs”). Fund returns after taxes on distributions and sales of Fund shares are calculated assuming that an investor has sufficient capital gains of the same character from other investments to offset any capital losses from the sale of Fund shares. As a result, Fund returns after taxes on distributions and sales of Fund shares may exceed Fund returns before taxes and/or returns after taxes on distributions.
S-10

 

Management
Investment Adviser. BlackRock Fund Advisors.
Portfolio Managers. Rachel Aguirre, Jennifer Hsui, Alan Mason, Greg Savage and Amy Whitelaw (the “Portfolio Managers”) are primarily responsible for the day-to-day management of the Fund. Each Portfolio Manager supervises a portfolio management team. Ms. Hsui and Mr. Savage have been Portfolio Managers of the Fund since 2015. Mr. Mason has been a Portfolio Manager of the Fund since 2016. Ms. Aguirre and Ms. Whitelaw have been Portfolio Managers of the Fund since 2018.
Purchase and Sale of Fund Shares
The Fund is an ETF. Individual shares of the Fund are listed on a national securities exchange. Most investors will buy and sell shares of the Fund through a broker-dealer. The price of Fund shares is based on market price, and because ETF shares trade at market prices rather than at NAV, shares may trade at a price greater than NAV (a premium) or less than NAV (a discount). The Fund will only issue or redeem shares that have been aggregated into blocks of 100,000 shares or multiples thereof (“Creation Units”) to Authorized Participants who have entered into agreements with the Fund's distributor. The Fund generally will issue or redeem Creation Units in return for a designated portfolio of securities (and an amount of cash) that the Fund specifies each day.
Tax Information
The Fund intends to make distributions that may be taxable to you as ordinary income or capital gains, unless you are investing through a tax-deferred arrangement such as a 401(k) plan or an IRA, in which case, your distributions generally will be taxed when withdrawn.
Payments to Broker-Dealers and Other Financial Intermediaries
If you purchase shares of the Fund through a broker-dealer or other financial intermediary (such as a bank), BFA or other related companies may pay the intermediary for marketing activities and presentations, educational training programs, conferences, the development of technology platforms and reporting systems or other services related to the sale or promotion of the Fund. These payments may create a conflict of interest by influencing the broker-dealer or other intermediary and your salesperson to recommend the Fund over another investment. Ask your salesperson or visit your financial intermediary’s website for more information.
S-11

 

[THIS PAGE INTENTIONALLY LEFT BLANK]

 

[THIS PAGE INTENTIONALLY LEFT BLANK]

 

[THIS PAGE INTENTIONALLY LEFT BLANK]

 

For more information visit www.iShares.com or call 1-800-474-2737
IS-SP-IVLU-1119
Investment Company Act file No.: 811-09729
 GRAPHIC 2 g742181br2015.gif GRAPHIC begin 644 g742181br2015.gif M1TE&.#EA?0 2 / ",?( "'Y! $ $ + !] !( +^A(\0R^T/ MHYPIS8LSJU7[+W$62%[(PI6J=@;="F^'T\ZF#;TNCLYMS]/1=#^@8K0Q>I2EK%";:'EE4JI8Q6]$]I6UWS/N:\SR(D]CU_S.BZWX?6TJ MY>56YK>70S1W%U8H1I5X4J7(-\2WU33V%,G&I=CVJ&8HJ1D'ER@J&,H6B;4) MQGDH])#&9*IE]RIKJ0H8"EE;F=IZFI7;"$H,5L[]NP;A$K[ M&1A]W2R\2O(+]OWOQA.Y;,8+* JB;. GRAPHIC 3 g742181img732612a72.gif GRAPHIC begin 644 g742181img732612a72.gif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g742181img8f673d361.jpg GRAPHIC begin 644 g742181img8f673d361.jpg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end GRAPHIC 5 g742181ishares2019sm.jpg GRAPHIC begin 644 g742181ishares2019sm.jpg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end GRAPHIC 6 g742181ivlu.jpg GRAPHIC begin 644 g742181ivlu.jpg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