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2011 SUMMARY PROSPECTUS TO SHAREHOLDERS iSHARES® MSCI TURKEY INVESTABLE
MARKET INDEX FUND January 1, 2011 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 http://us.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 January 1, 2011, as amended and supplemented from time to time, are incorporated by reference into (legally made a part of) this Summary
Prospectus. TUR | NYSE Arca
iSHARES® MSCI TURKEY INVESTABLE MARKET
INDEX FUND Ticker: TUR Stock Exchange: NYSE Arca Investment Objective The iShares MSCI Turkey Investable Market Index Fund (the “Fund”) seeks investment results that correspond
generally to the price and yield performance, before fees and expenses, of the MSCI Turkey Investable Market Index (the “Underlying Index”). Fees and Expenses
Principal Investment Strategies 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.
Summary of Principal Risks Currency Risk. Because the Fund’s NAV is determined in U.S. dollars, the Fund’s NAV could decline
if the currency of the non-U.S. market in which the Fund invests depreciates against the U.S. dollar. Custody Risk. Less developed markets are more likely to experience problems with the clearing and
settling of trades. Emerging Markets Risk. The Fund’s investments in emerging
markets may be subject to a greater risk of loss than investments in developed markets. Market
Trading Risks. The Fund faces numerous market trading risks, including the potential lack of an active market for Fund shares, losses from trading in secondary markets, and disruption in the creation/redemption process of the Fund. ANY
OF THESE FACTORS MAY LEAD TO THE FUND’S
Passive Investment Risk. The Fund is not actively managed and BFA does not attempt to take defensive
positions in declining markets.
Valuation Risk. The value of the securities in the Fund’s portfolio may change on days when
shareholders will not be able to purchase or sell the Fund’s shares. Performance Information The best calendar quarter return during the period shown above was 60.55% in the 2nd quarter of 2009; the worst was -11.14% in the 1st
quarter of 2009. Updated performance information is available at www.iShares.com or by calling 1-800-iShares
(1-800-474-2737) (toll free). Average Annual Total Returns
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)
FeesOther
Expenses
Total Annual
Fund
Operating
Expenses
0.61%
None
None
0.61%
1 Year
3 Years
5 Years
10 Years
$62
$195
$340
$762
S-1
S-2
government securities are not considered to be issued by members of any industry.
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SHARES TRADING AT A PREMIUM OR DISCOUNT TO NAV.
S-4
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 Fund’s
prospectus (the “Prospectus”).
1
The Fund’s total return for the nine months ended September 30, 2010 was 30.52%.
(for the
periods ended December 31, 2009)
One
YearSince Fund
Inception
(Inception Date: 3/26/2008)
Return Before Taxes
107.94%
6.91%
Return After Taxes on Distributions1
107.29%
6.61%
Return After Taxes on Distributions and Sale of Fund Shares1
70.69%
5.75%
MSCI Turkey Investable Market Index (Index returns do not reflect deductions for
fees, expenses or taxes)
109.02%
7.22%
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 sale 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 sale of Fund shares may exceed Fund returns before taxes and/or returns after taxes on distributions.
S-5
Portfolio Managers. Rene Casis, Diane Hsiung and Greg Savage (the “Portfolio Managers”) are primarily responsible for the day-to-day management of the Fund. Each Portfolio Manager supervises a portfolio management team. Mr. Casis, Ms. Hsiung and Mr. Savage have been Portfolio Managers of the Fund since 2011, 2008 and 2008, respectively.
Purchase and Sale of Fund Shares
The Fund is an exchange-traded fund (commonly referred to as an “ETF”). Individual Fund shares may only be purchased and sold on a national securities exchange through a broker-dealer. The price of Fund shares is based on market price, and because ETF shares trade at market prices rather than 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 50,000 shares or multiples thereof (“Creation Units”) to authorized participants who have entered into agreements with the Fund’s distributor. The Fund will issue or redeem Creation Units in return for a basket of assets 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 individual retirement account (“IRA”).
Payments to Broker-dealers and other Financial Intermediaries
S-6 | |
For more information:
WWW.iSHARES.COM
1-800-iShares (1-800-474-2737)
Investment Company Act File No.: 811-09102
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