2017 Prospectus |
|
► | iShares Emerging Markets Dividend ETF | DVYE | NYSE ARCA |
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S-1 |
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1 |
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2 |
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13 |
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20 |
|
20 |
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23 |
|
33 |
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34 |
|
35 |
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35 |
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38 |
Ticker: DVYE | Stock Exchange: NYSE Arca |
Annual
Fund Operating Expenses (ongoing expenses that you pay each year as a percentage of the value of your investments)1 | ||||||||
Management
Fees |
Distribution
and Service (12b-1) Fees |
Other
Expenses |
Acquired
Fund Fees and Expenses |
Total
Annual Fund Operating Expenses | ||||
0.49% | None | None | None | 0.49% |
1 | The expense information in
the table has been restated to reflect current management fees. |
1 Year | 3 Years | 5 Years | 10 Years | |||
$50 | $157 | $274 | $616 |
1 | The Fund’s year-to-date return as of June 30, 2017 was 16.18%. |
One Year | Since
Fund Inception | ||
(Inception Date: 2/23/2012) | |||
Return Before Taxes | 20.28% | -4.48% | |
Return After Taxes on Distributions2 | 19.07% | -5.50% | |
Return After Taxes on Distributions and Sale of Fund Shares2 | 12.48% | -3.26% | |
Dow Jones Emerging Markets Select Dividend Index (Index returns do not reflect deductions for fees, expenses, or taxes) | 21.11% | -4.57% |
2 | 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. |
■ | Lower levels of liquidity and market efficiency; |
■ | Greater securities price volatility; |
■ | Exchange rate fluctuations and exchange controls; |
■ | Less availability of public information about issuers; |
■ | Limitations on foreign ownership of securities; |
■ | Imposition of withholding or other taxes; |
■ | Imposition of restrictions on the expatriation of the funds or other assets of the Fund; |
■ | Higher transaction and custody costs and delays in settlement procedures; |
■ | Difficulties in enforcing contractual obligations; |
■ | Lower levels of regulation of the securities markets; |
■ | Weaker accounting, disclosure and reporting requirements; and |
■ | Legal principles relating to corporate governance, directors’ fiduciary duties and liabilities and stockholders’ rights in markets in which the Fund invests may differ and/or may not be as extensive or protective as those that apply in the United States. |
■ | The risk of delays in settling portfolio transactions and the risk of loss arising out of the system of share registration and custody used in Russia; |
■ | Risks in connection with the maintenance of the Fund’s portfolio securities and cash with foreign sub-custodians and securities depositories, including the risk that appropriate sub-custody arrangements will not be available to the Fund; |
■ | The risk that the Fund’s ownership rights in portfolio securities could be lost through fraud or negligence because ownership in shares of Russian companies is recorded by the companies themselves and by registrars, rather than by a central registration system; and |
■ | The risk that the Fund may not be able to pursue claims on behalf of its shareholders because of the system of share registration and custody, and because Russian banking institutions and registrars are not guaranteed by the Russian government. |
■ | The risk of delays in settling portfolio transactions and the risk of loss arising out of the system of share registration and custody used in certain Eastern European countries; |
■ | Risks in connection with the maintenance of the Fund's portfolio securities and cash with foreign sub-custodians and securities depositories, including the risk that appropriate sub-custody arrangements will not be available to the Fund; |
■ | The risk that the Fund's ownership rights in portfolio securities could be lost through fraud or negligence as a result of the fact that ownership in shares of certain Eastern European companies is recorded by the companies themselves and by registrars, rather than a central registration system; |
■ | The risk that the Fund may not be able to pursue claims on behalf of its shareholders because of the system of share registration and custody, and because certain Eastern European banking institutions and registrars are not guaranteed by their respective governments; and |
■ | Risks in connection with Eastern European countries' dependence on the economic health of Western European countries and the European Union (“EU”) as a whole. |
Approximate
Value of a Creation Unit |
Creation
Unit Size |
Standard
Creation/ Redemption Transaction Fee |
Maximum
Additional Charge for Creations* |
Maximum
Additional Charge for Redemptions* | ||||
$2,034,000 | 50,000 | $3,000 | 7.0% | 2.0% |
* | As a percentage of the net asset value per Creation Unit, inclusive, in the case of redemptions, of the standard redemption transaction fee. |
Year
ended Apr. 30, 2017 |
Year
ended Apr. 30, 2016 |
Year
ended Apr. 30, 2015 |
Year
ended Apr. 30, 2014 |
Year
ended Apr. 30, 2013 | |||||
Net asset value, beginning of year | $ 33.87 | $ 45.99 | $ 48.33 | $ 53.80 | $ 53.23 | ||||
Income
from investment operations: |
|||||||||
Net investment incomea | 1.52 | 1.83 | 2.00 | 1.96 | 2.02 | ||||
Net realized and unrealized gain (loss)b | 6.06 | (12.13) | (2.45) | (5.18) | 0.56 | ||||
Total from investment operations | 7.58 | (10.30) | (0.45) | (3.22) | 2.58 | ||||
Less distributions from: | |||||||||
Net investment income | (1.59) | (1.76) | (1.89) | (2.25) | (2.01) | ||||
Return of capital | − | (0.06) | − | − | − | ||||
Total distributions | (1.59) | (1.82) | (1.89) | (2.25) | (2.01) | ||||
Net asset value, end of year | $ 39.86 | $ 33.87 | $ 45.99 | $ 48.33 | $ 53.80 | ||||
Total return | 23.22% | (22.45)% | (0.91)% | (5.86)% | 5.09% | ||||
Ratios/Supplemental data: | |||||||||
Net assets, end of year (000s) | $298,932 | $152,410 | $211,562 | $178,838 | $131,806 | ||||
Ratio of expenses to average net assets | 0.49% | 0.49% | 0.49% | 0.49% | 0.49% | ||||
Ratio of expenses to average net assets prior to waived fees | 0.52% | 0.68% | 0.68% | 0.68% | 0.68% | ||||
Ratio of net investment income to average net assets | 4.23% | 5.31% | 4.42% | 4.01% | 3.80% | ||||
Portfolio turnover ratec | 68% | 67% | 59% | 44% | 41% |
a | Based on average shares outstanding throughout each period. |
b | The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share transactions in relation to the fluctuating market values of the Fund's underlying securities. |
c | Portfolio turnover rates exclude portfolio securities received or delivered in Creation Units but include portfolio transactions that are executed as a result of the Fund processing capital share transactions in Creation Units partially for cash in U.S. dollars. Excluding such cash transactions, the portfolio turnover rates for the years ended April 30, 2017, April 30, 2016, April 30, 2015, April 30, 2014 and April 30, 2013 were 54%, 55%, 43%, 39% and 41%, respectively. |
Premium/Discount Range | Number of Days | Percentage of Total Days | ||
Greater than 2.0% and Less than 2.5% | 1 | 0.27% | ||
Greater than 1.5% and Less than 2.0% | 4 | 1.06 | ||
Greater than 1.0% and Less than 1.5% | 13 | 3.45 | ||
Greater than 0.5% and Less than 1.0% | 85 | 22.54 | ||
Greater than 0.0% and Less than 0.5% | 127 | 33.69 | ||
At NAV | 4 | 1.06 | ||
Less than 0.0% and Greater than -0.5% | 88 | 23.33 | ||
Less than -0.5% and Greater than -1.0% | 35 | 9.28 | ||
Less than -1.0% and Greater than -1.5% | 11 | 2.92 | ||
Less than -1.5% and Greater than -2.0% | 4 | 1.06 | ||
Less than -2.0% and Greater than -2.5% | 3 | 0.8 | ||
Less than -2.5% and Greater than -3.0% | 1 | 0.27 | ||
Less than -3.0 | 1 | 0.27 | ||
377 | 100.00% |
Average Annual Total Returns | Cumulative Total Returns | ||||||
NAV | MARKET | INDEX | NAV | MARKET | INDEX | ||
1 Year | 23.22% | 23.78% | 23.71% | 23.22% | 23.78% | 23.71% | |
5 Years | (1.30)% | (1.35)% | (1.39)% | (6.32)% | (6.56)% | (6.74)% | |
Since Inception* | (1.69)% | (1.62)% | (1.78)% | (8.44)% | (8.11)% | (8.89)% |
* | Total returns for the period since inception are calculated from the inception date of the Fund (2/23/12). The first day of secondary market trading in shares of the Fund was 2/24/12. |
Call: | 1-800-iShares
or 1-800-474-2737 (toll free) Monday through Friday, 8:30 a.m. to 6:30 p.m. (Eastern time) |
Email: | iSharesETFs@blackrock.com |
Write: | c/o
BlackRock Investments, LLC 1 University Square Drive, Princeton, NJ 08540 |
Fund | Ticker | Listing Exchange | ||
iShares Emerging Markets Dividend ETF (the “Fund”) | DVYE | NYSE Arca |
1. | Concentrate its investments (i.e., invest 25% or more of its total assets in the securities of a particular industry or group of industries), except that the Fund will concentrate to approximately the same extent that the Underlying Index concentrates in the securities of a particular industry or group of industries. For purposes of this limitation, securities of the U.S. government (including its agencies and instrumentalities), repurchase agreements collateralized by U.S. government securities, and securities of state or municipal governments and their political subdivisions are not considered to be issued by members of any industry. |
2. | Borrow money, except that (i) the Fund may borrow from banks for temporary or emergency (not leveraging) purposes, including the meeting of redemption requests which might otherwise require the untimely disposition of securities; and (ii) the Fund may, to the extent consistent with its investment policies, enter into repurchase agreements, reverse repurchase agreements, forward roll transactions and similar investment strategies and techniques. To the extent that it engages in transactions described in (i) and (ii), the Fund will be limited so that no more than 33 1/3% of the value of its total assets (including the amount borrowed) is derived from such transactions. Any borrowings which come to exceed this amount will be reduced in accordance with applicable law. |
3. | Issue any senior security, except as permitted under the 1940 Act, as interpreted, modified or otherwise permitted by any regulatory authority having jurisdiction, from time to time. |
4. | Make loans, except as permitted under the 1940 Act, as interpreted, modified or otherwise permitted by regulatory authority having jurisdiction, from time to time. |
5. | Purchase or sell real estate unless acquired as a result of ownership of securities or other instruments (but this restriction shall not prevent the Fund from investing in securities of companies engaged in the real estate business or securities or other instruments backed by real estate or mortgages), or commodities or commodity contracts (but this restriction shall not prevent the Fund from trading in futures contracts and options on futures contracts, including options on currencies to the extent consistent with the Fund’s investment objective and policies). |
6. | Engage in the business of underwriting securities issued by other persons, except to the extent that the Fund may technically be deemed to be an underwriter under the 1933 Act, in disposing of portfolio securities. |
• | The frequency of trades and quotes for the security; |
• | The number of dealers wishing to purchase or sell the security and the number of other potential purchasers; |
• | Dealer undertakings to make a market in the security; and |
• | The nature of the security and the nature of the marketplace in which it trades (e.g., the time needed to dispose of the security, the method of soliciting offers and the mechanics of transfer). |
Name (Age) | Position | Principal
Occupation(s) During the Past 5 Years |
Other
Directorships Held by Director | |||
Robert
S. Kapito1 (60) |
Director
(since 2009). |
President, BlackRock, Inc. (since 2006); Vice Chairman of BlackRock, Inc. and Head of BlackRock’s Portfolio Management Group (since its formation in 1998) and BlackRock, Inc.’s predecessor entities (since 1988); Trustee, University of Pennsylvania (since 2009); President of Board of Directors, Hope & Heroes Children’s Cancer Fund (since 2002). | Director of BlackRock, Inc. (since 2006); Trustee of iShares Trust (since 2009); Trustee of iShares U.S. ETF Trust (since 2011). | |||
Mark
K. Wiedman2 (46) |
Director (since 2013). | Senior Managing Director, BlackRock, Inc. (since 2014); Managing Director, BlackRock, Inc. (2007-2014); Global Head of BlackRock’s ETF and Index Investments Business (since 2016); Global Head of iShares (2011-2016); Head of Corporate Strategy, BlackRock, Inc. (2009-2011). | Trustee of iShares Trust (since 2013); Trustee of iShares U.S. ETF Trust (since 2013); Director of PennyMac Financial Services, Inc. (since 2008). |
1 | Robert S. Kapito is deemed to be an “interested person” (as defined in the 1940 Act) of the Company due to his affiliations with BlackRock, Inc. and its affiliates. |
2 | Mark K. Wiedman is deemed to be an “interested person” (as defined in the 1940 Act) of the Company due to his affiliations with BlackRock, Inc. and its affiliates. |
Name (Age) | Position | Principal
Occupation(s) During the Past 5 Years |
Other
Directorships Held by Director | |||
Cecilia
H. Herbert (68) |
Director
(since 2005); Independent Board Chair (since 2016). |
Trustee and Member of the Finance, Technology and Quality Committee of Stanford Health Care (since 2016); Trustee and Member of the Investment Committee, WNET, a New York public media company (since 2011); Chair (1994-2005) and Member (since 1992) of the Investment Committee, Archdiocese of San Francisco; Director (1998-2013) and President (2007-2011) of the Board of Directors, Catholic Charities CYO; Trustee (2002-2011) and Chair of the Finance and Investment Committee (2006-2010) of the Thacher School. | Trustee of iShares Trust (since 2005); Trustee of iShares U.S. ETF Trust (since 2011); Independent Board Chair of iShares Trust and iShares U.S. ETF Trust (since 2016); Trustee of Forward Funds (14 portfolios) (since 2009); Trustee of Salient MF Trust (4 portfolios) (since 2015). | |||
Jane
D. Carlin (61) |
Director
(since 2015); Risk Committee Chair (since 2016). |
Consultant (since 2012); Managing Director and Global Head of Financial Holding Company Governance & Assurance and the Global Head of Operational Risk Management of Morgan Stanley (2006-2012). | Trustee of iShares Trust (since 2015); Trustee of iShares U.S. ETF Trust (since 2015); Director of PHH Corporation (mortgage solutions) (since 2012); Director of The Hanover Insurance Group, Inc. (since 2016). | |||
Richard
L. Fagnani (62) |
Director
(since 2017); Equity Plus Committee Chair (since 2017). |
Partner, KPMG LLP (2002-2016). | Trustee of iShares Trust (since 2017); Trustee of iShares U.S. ETF Trust (since 2017). | |||
Charles
A. Hurty (73) |
Director
(since 2005); Audit Committee Chair (since 2006). |
Retired; Partner, KPMG LLP (1968-2001). | Trustee of iShares Trust (since 2005); Trustee of iShares U.S. ETF Trust (since 2011); Director of SkyBridge Alternative Investments Multi-Adviser Hedge Fund Portfolios LLC (2 portfolios) (since 2002). | |||
John
E. Kerrigan (62) |
Director
(since 2005); Securities Lending Committee Chair (since 2016). |
Chief Investment Officer, Santa Clara University (since 2002). | Trustee of iShares Trust (since 2005); Trustee of iShares U.S. ETF Trust (since 2011). | |||
Drew
E. Lawton (58) |
Director
(since 2017); 15(c) Committee Chair (since 2017). |
Senior Managing Director of New York Life Insurance Company (2010-2015). | Trustee of iShares Trust (since 2017); Trustee of iShares U.S. ETF Trust (since 2017). | |||
John
E. Martinez (56) |
Director
(since 2003); Fixed Income Plus Committee Chair (since 2016). |
Director of Real Estate Equity Exchange, Inc. (since 2005). | Trustee of iShares Trust (since 2003); Trustee of iShares U.S. ETF Trust (since 2011). |
Name (Age) | Position | Principal
Occupation(s) During the Past 5 Years |
Other
Directorships Held by Director | |||
Madhav
V. Rajan (53) |
Director
(since 2011); Nominating and Governance Committee Chair (since 2017). |
Dean, and George Pratt Shultz Professor of Accounting, University of Chicago Booth School of Business (since 2017); Robert K. Jaedicke Professor of Accounting, Stanford University Graduate School of Business (2001-2017); Professor of Law (by courtesy), Stanford Law School (2005-2017); Senior Associate Dean for Academic Affairs and Head of MBA Program, Stanford University Graduate School of Business (2010-2016). | Trustee
of iShares Trust (since 2011); Trustee of iShares U.S. ETF Trust (since 2011); Director, Cavium, Inc. (since 2013). |
Name (Age) | Position | Principal
Occupation(s) During the Past 5 Years | ||
Martin
Small (42) |
President (since 2016). | Managing Director, BlackRock, Inc. (since 2010); Head of U.S. iShares (since 2015); Co-Head of the U.S. Financial Markets Advisory Group, BlackRock, Inc. (2008-2014). | ||
Jack
Gee (57) |
Treasurer
and Chief Financial Officer (since 2008). |
Managing Director, BlackRock, Inc. (since 2009); Senior Director of Fund Administration of Intermediary Investor Business, BGI (2009). | ||
Charles
Park (50) |
Chief Compliance Officer (since 2006). | Chief Compliance Officer of BlackRock Advisors, LLC and the BlackRock-advised Funds in the Equity-Bond Complex, the Equity-Liquidity Complex and the Closed-End Complex (since 2014); Chief Compliance Officer of BFA (since 2006). | ||
Benjamin
Archibald (42) |
Secretary (since 2015). | Managing Director, BlackRock, Inc. (since 2014); Director, BlackRock, Inc. (2010-2013); Secretary of the BlackRock-advised mutual funds (since 2012). | ||
Steve
Messinger (55) |
Executive
Vice President (since 2016). |
Managing Director, BlackRock, Inc. (2007-2014 and since 2016); Managing Director, Beacon Consulting Group (2014-2016). | ||
Scott
Radell (48) |
Executive
Vice President (since 2012). |
Managing Director, BlackRock, Inc. (since 2009); Head of Portfolio Solutions, BlackRock, Inc. (since 2009). |
Name (Age) | Position | Principal
Occupation(s) During the Past 5 Years | ||
Alan
Mason (56) |
Executive
Vice President (since 2016). |
Managing Director, BlackRock, Inc. (since 2009). |
Name | Fund | Dollar
Range of Equity Securities in the Fund |
Aggregate
Dollar Range of Equity Securities in all Registered Investment Companies Overseen by Director or Advisory Board Member in Family of Investment Companies | |||
Robert S. Kapito | None | None | None | |||
Mark K. Wiedman | iShares Core MSCI EAFE ETF | $50,001-$100,000 | Over $100,000 | |||
iShares Core MSCI Emerging Markets ETF | $50,001-$100,000 | |||||
iShares Core S&P Total U.S. Stock Market ETF | Over $100,000 | |||||
iShares National Muni Bond ETF | Over $100,000 | |||||
iShares New York Muni Bond ETF | Over $100,000 | |||||
Cecilia H. Herbert | iShares California Muni Bond ETF | Over $100,000 | Over $100,000 | |||
iShares China Large-Cap ETF | $50,001-$100,000 | |||||
iShares Core Dividend Growth ETF | $10,001-$50,000 | |||||
iShares Core High Dividend ETF | $1-$10,000 | |||||
iShares Core MSCI Emerging Markets ETF | $10,001-$50,000 | |||||
iShares Core MSCI Total International Stock ETF | $10,001-$50,000 | |||||
iShares Core S&P 500 ETF | Over $100,000 | |||||
iShares Core S&P Small-Cap ETF | $1-$10,000 | |||||
iShares Core S&P Total U.S. Stock Market ETF | $10,001-$50,000 | |||||
iShares Core S&P U.S. Growth ETF | $50,001-$100,000 | |||||
iShares Core S&P U.S. Value ETF | $50,001-$100,000 | |||||
iShares iBoxx $ High Yield Corporate Bond ETF | $10,001-$50,000 |
Name | Fund | Dollar
Range of Equity Securities in the Fund |
Aggregate
Dollar Range of Equity Securities in all Registered Investment Companies Overseen by Director or Advisory Board Member in Family of Investment Companies | |||
iShares International Select Dividend ETF | $1-$10,000 | |||||
iShares MSCI EAFE ETF | $1-$10,000 | |||||
iShares MSCI Japan ETF | $10,001-$50,000 | |||||
iShares National Muni Bond ETF | $10,001-$50,000 | |||||
iShares U.S. Preferred Stock ETF | $10,001-$50,000 | |||||
Jane D. Carlin | iShares Core MSCI EAFE ETF | $50,001-$100,000 | Over $100,000 | |||
iShares Core S&P Small-Cap ETF | $50,001-$100,000 | |||||
iShares Global Tech ETF | $10,001-$50,000 | |||||
Richard L. Fagnani | Not Applicable | Not Applicable | Not Applicable | |||
Charles A. Hurty | iShares China Large-Cap ETF | $10,001-$50,000 | Over $100,000 | |||
iShares Core Dividend Growth ETF | Over $100,000 | |||||
iShares Core Growth Allocation ETF | Over $100,000 | |||||
iShares Core High Dividend ETF | Over $100,000 | |||||
iShares Core Moderate Allocation ETF | $50,001-$100,000 | |||||
iShares Core MSCI Emerging Markets ETF | $50,001-$100,000 | |||||
iShares Core S&P 500 ETF | Over $100,000 | |||||
iShares Core S&P U.S. Value ETF | $10,001-$50,000 | |||||
iShares Edge MSCI Min Vol USA ETF | Over $100,000 | |||||
iShares Global Energy ETF | $10,001-$50,000 | |||||
iShares Global Healthcare ETF | $10,001-$50,000 | |||||
iShares Global Tech ETF | $10,001-$50,000 | |||||
iShares MSCI EAFE ETF | $10,001-$50,000 | |||||
iShares Russell 2000 ETF | $10,001-$50,000 | |||||
iShares U.S. Basic Materials ETF | $10,001-$50,000 | |||||
iShares U.S. Energy ETF | $10,001-$50,000 | |||||
iShares U.S. Technology ETF | Over $100,000 | |||||
John E. Kerrigan | iShares MSCI ACWI ETF | $10,001-$50,000 | Over $100,000 | |||
iShares MSCI ACWI ex U.S. ETF | Over $100,000 | |||||
iShares Short-Term National Muni Bond ETF | Over $100,000 | |||||
Drew E. Lawton | iShares MSCI Frontier 100 ETF | $50,001-$100,000 | $50,001-$100,000 | |||
Name | Fund | Dollar
Range of Equity Securities in the Fund |
Aggregate
Dollar Range of Equity Securities in all Registered Investment Companies Overseen by Director or Advisory Board Member in Family of Investment Companies | |||
John E. Martinez | iShares Core MSCI Total International Stock ETF | $1-$10,000 | Over $100,000 | |||
iShares Core S&P 500 ETF | Over $100,000 | |||||
iShares Core S&P Total U.S. Stock Market ETF | $1-$10,000 | |||||
iShares Global Consumer Staples ETF | Over $100,000 | |||||
iShares MSCI All Country Asia ex Japan ETF | Over $100,000 | |||||
iShares MSCI EAFE ETF | Over $100,000 | |||||
iShares Russell 1000 ETF | Over $100,000 | |||||
iShares Russell 1000 Value ETF | Over $100,000 | |||||
iShares Russell 2000 ETF | Over $100,000 | |||||
iShares Short Maturity Bond ETF | Over $100,000 | |||||
iShares TIPS Bond ETF | $50,001-$100,000 | |||||
Madhav V. Rajan | iShares Core Dividend Growth ETF | Over $100,000 | Over $100,000 | |||
iShares Core High Dividend ETF | Over $100,000 | |||||
iShares Core S&P 500 ETF | Over $100,000 | |||||
iShares iBoxx $ High Yield Corporate Bond ETF | Over $100,000 | |||||
iShares iBoxx $ Investment Grade Corporate Bond ETF | Over $100,000 | |||||
iShares Russell 2000 ETF | Over $100,000 | |||||
iShares Select Dividend ETF | Over $100,000 | |||||
iShares U.S. Preferred Stock ETF | Over $100,000 |
Name | iShares
Emerging Markets Dividend ETF |
Pension
or Retirement Benefits Accrued As Part of Company Expenses4 |
Estimated
Annual Benefits Upon Retirement4 |
Total
Compensation From the Fund and Fund Complex5 | ||||
Independent Directors: | ||||||||
Robert H. Silver1 | $ 0 | Not Applicable | Not Applicable | $81,250 | ||||
John E. Kerrigan | 91 | Not Applicable | Not Applicable | 325,000 | ||||
Charles A. Hurty | 96 | Not Applicable | Not Applicable | 340,000 | ||||
Cecilia H. Herbert | 98 | Not Applicable | Not Applicable | 361,764 | ||||
John E. Martinez | 91 | Not Applicable | Not Applicable | 336,764 | ||||
Madhav V. Rajan | 98 | Not Applicable | Not Applicable | 325,000 | ||||
Jane D. Carlin | 91 | Not Applicable | Not Applicable | 325,000 | ||||
Interested Directors: | ||||||||
Robert S. Kapito | $ 0 | Not Applicable | Not Applicable | $0 | ||||
Mark K. Wiedman | 0 | Not Applicable | Not Applicable | 0 | ||||
Advisory Board Members: | ||||||||
Drew E. Lawton2 | $50 | Not Applicable | Not Applicable | $75,000 6 | ||||
Richard L. Fagnani3 | 7 | Not Applicable | Not Applicable | Not Applicable7 |
1 | Served as an Independent Director through March 31, 2016. |
2 | Compensation from the Fund is shown for Drew E. Lawton for the period from October 18, 2016 (date of his appointment to the Advisory Board of the Company) to April 30, 2017. |
3 | Compensation from the Fund is shown for Richard L. Fagnani for the period from April 1, 2017 (date of his appointment to the Advisory Board of the Company) to April 30, 2017. |
4 | No Director or officer is entitled to any pension or retirement benefits from the Company. |
5 | Includes compensation for service on the Boards of Trustees or the Advisory Board for iShares Trust and iShares U.S. ETF Trust. |
6 | Total compensation is shown for Drew E. Lawton for the period from October 18, 2016 (date of his appointment to the Advisory Board of the Company, iShares Trust and iShares U.S. ETF Trust) to December 31, 2016. |
7 | Total compensation is not shown for Richard L. Fagnani because he was appointed to serve as an Advisory Board Member of the Company, iShares Trust and iShares U.S. ETF Trust effective April 1, 2017. |
Name and Address | Percentage
of Ownership | |
National
Financial Services LLC 200 Liberty Street 5th Floor New York, NY 10281 |
25.17% |
Name and Address | Percentage
of Ownership | |
Merrill
Lynch, Pierce Fenner & Smith Safekeeping 101 Hudson Street 8th Floor Jersey City, NJ 07302 |
11.54% | |
Pershing
LLC One Pershing Plaza Jersey City, NJ 07399 |
10.33% | |
Charles
Schwab & Co., Inc. 111 Pavonia Avenue Jersey City, NJ 07310 |
8.52% | |
UBS
Financial Services Inc. 1000 Harbor Blvd. 8th Floor Weehawken, NJ 07087 |
7.25% | |
Morgan
Stanley Smith Barney LLC 1300 Thames Street 6th Floor Baltimore, MD 21231 |
6.35% |
Management
Fee for the Fiscal Year Ended April 30, 2017 |
Fund
Inception Date |
Management
Fees Paid for Fiscal Year Ended April 30, 2017 |
Management
Fees Paid for Fiscal Year Ended April 30, 2016 |
Management
Fees Paid for Fiscal Year Ended April 30, 2015 | ||||
0.49% 1 | 02/23/12 | $1,117,215 | $832,571 | $1,147,454 |
1 | Effective August 1, 2016, the management fee for the iShares Emerging Markets Dividend ETF is 0.49%. Prior to August 1, 2016, the management fee for the iShares Emerging Markets Dividend ETF was 0.68%. |
Diane Hsiung | ||||
Types of Accounts | Number | Total Assets | ||
Registered Investment Companies | 267 | $873,219,000,000 | ||
Other Pooled Investment Vehicles | 2 | 23,000,000 | ||
Other Accounts | 0 | 0 |
Jennifer Hsui | ||||
Types of Accounts | Number | Total Assets | ||
Registered Investment Companies | 287 | $903,488,000,000 | ||
Other Pooled Investment Vehicles | 4 | 1,572,000,000 | ||
Other Accounts | 2 | 488,000,000 |
Alan Mason | ||||
Types of Accounts | Number | Total Assets | ||
Registered Investment Companies | 358 | $ 974,688,000,000 | ||
Other Pooled Investment Vehicles | 288 | 622,347,000,000 | ||
Other Accounts | 217 | 79,660,000,000 |
Greg Savage | ||||
Types of Accounts | Number | Total Assets | ||
Registered Investment Companies | 402 | $930,524,000,000 | ||
Other Pooled Investment Vehicles | 2 | 1,549,000,000 | ||
Other Accounts | 18 | 12,947,000,000 |
Diane Hsiung | ||||
Types of Accounts | Number
of Other Accounts with Performance Fees Managed by Portfolio Manager |
Aggregate
of Total Assets | ||
Registered Investment Companies | 0 | N/A | ||
Other Pooled Investment Vehicles | 0 | N/A |
Diane Hsiung | ||||
Types of Accounts | Number
of Other Accounts with Performance Fees Managed by Portfolio Manager |
Aggregate
of Total Assets | ||
Other Accounts | 0 | N/A |
Jennifer Hsui | ||||
Types of Accounts | Number
of Other Accounts with Performance Fees Managed by Portfolio Manager |
Aggregate
of Total Assets | ||
Registered Investment Companies | 0 | N/A | ||
Other Pooled Investment Vehicles | 0 | N/A | ||
Other Accounts | 0 | N/A |
Alan Mason | ||||
Types of Accounts | Number
of Other Accounts with Performance Fees Managed by Portfolio Manager |
Aggregate
of Total Assets | ||
Registered Investment Companies | 0 | N/A | ||
Other Pooled Investment Vehicles | 0 | N/A | ||
Other Accounts | 0 | N/A |
Greg Savage | ||||
Types of Accounts | Number
of Other Accounts with Performance Fees Managed by Portfolio Manager |
Aggregate
of Total Assets | ||
Registered Investment Companies | 0 | N/A | ||
Other Pooled Investment Vehicles | 0 | N/A | ||
Other Accounts | 0 | N/A |
Fund
Inception Date |
Administration,
Custodian, Transfer Agency Expenses Paid During Fiscal Year Ended April 30, 2017 |
Administration,
Custodian, Transfer Agency Expenses Paid During Fiscal Year Ended April 30, 2016 |
Administration,
Custodian, Transfer Agency Expenses Paid During Fiscal Year Ended April 30, 2015 | |||
02/23/12 | $ 120,089 | $ 85,912 | $100,935 |
Fund
Inception Date |
Distributor
Compensation Paid During Fiscal Year Ended April 30, 2017 |
Distributor
Compensation Paid During Fiscal Year Ended April 30, 2016 |
Distributor
Compensation Paid During Fiscal Year Ended April 30, 20151 | |||
02/23/12 | $0 | $0 | $1,534 |
1 | These fees reflect payments made to SEI, acting as an agent of the Distributor. |
Fund
Inception Date |
Brokerage
Commissions Paid During Fiscal Year Ended April 30, 2017 |
Brokerage
Commissions Paid During Fiscal Year Ended April 30, 2016 |
Brokerage
Commissions Paid During Fiscal Year Ended April 30, 2015 | |||
02/23/12 | $154,052 | $109,153 | $174,411 |
Fiscal Year ended April 30, 2017 | Fiscal Year ended April 30, 2016 | ||
68% | 67% |
Shares
Per Creation Unit |
Value
Per Creation Unit (U.S.$) | |
50,000 | $2,034,000 |
Standard
Creation Transaction Fee |
Maximum
Additional Charge* | |
$3,000 | 7.0% |
* | As a percentage of the net asset value per Creation Unit. |
Standard
Redemption Transaction Fee |
Maximum
Additional Charge* | |
$3,000 | 2.0% |
* | As a percentage of the net asset value per Creation Unit, inclusive of the standard redemption transaction fee. |
1 | iShares ESG 1-5 Year USD Corporate Bond ETF, iShares ESG USD Corporate Bond ETF, iShares MSCI ACWI Low Carbon Target ETF, iShares MSCI All Peru Capped ETF, iShares MSCI EAFE ESG Optimized ETF, iShares MSCI EM ESG Optimized ETF, iShares MSCI Global Impact ETF, iShares MSCI KLD 400 Social ETF, iShares MSCI USA ESG Optimized ETF and iShares MSCI USA ESG Select ETF have separate Fund Proxy Voting Policies. |
• | Boards and directors |
• | Auditors and audit-related issues |
• | Capital structure, mergers, asset sales and other special transactions |
• | Remuneration and benefits |
• | Social, ethical and environmental issues |
• | General corporate governance matters |
• | establishing an appropriate corporate governance structure; |
• | supporting and overseeing management in setting strategy; |
• | ensuring the integrity of financial statements; |
• | making decisions regarding mergers, acquisitions and disposals; |
• | establishing appropriate executive compensation structures; and |
• | addressing business issues including social, ethical and environmental issues when they have the potential to materially impact company reputation and performance. |
• | current employment at the company or a subsidiary; |
• | former employment within the past several years as an executive of the company; |
• | providing substantial professional services to the company and/or members of the company’s management; |
• | having had a substantial business relationship in the past three years; |
• | having, or representing a shareholder with, a substantial shareholding in the company; |
• | being an immediate family member of any of the aforementioned; and |
• | interlocking directorships. |
• | BlackRock has adopted a proxy voting oversight structure whereby the Corporate Governance Committees oversee the voting decisions and other activities of the Corporate Governance Group, and particularly its activities with respect to voting in the relevant region of each Corporate Governance Committee’s jurisdiction. |
• | The Corporate Governance Committees have adopted Guidelines for each region, which set forth the firm’s views with respect to certain corporate governance and other issues that typically arise in the proxy voting context. The Corporate Governance Committees receive periodic reports regarding the specific votes cast by the Corporate Governance Group and regular updates on material process issues, procedural changes and other matters of concern to the Corporate Governance Committees. |
• | BlackRock’s Global Corporate Governance Oversight Committee oversees the Global Head, the Corporate Governance Group and the Corporate Governance Committees. The Global Corporate Governance Oversight Committee conducts a review, at least annually, of the proxy voting process to ensure compliance with BlackRock’s risk policies and procedures. |
• | BlackRock maintains a reporting structure that separates the Global Head and Corporate Governance Group from employees with sales responsibilities. In addition, BlackRock maintains procedures intended to ensure that all engagements with corporate issuers or dissident shareholders are managed consistently and without regard to BlackRock’s relationship with the issuer of the proxy or dissident shareholder. Within the normal course of business, the Global Head or Corporate Governance Group may engage directly with BlackRock clients, and with employees with sales responsibilities, in discussions regarding general corporate governance policy matters, and to otherwise ensure that proxy-related client service levels are met. The Global Head or Corporate Governance Group does not discuss any specific voting matter with a client prior to the disclosure of the vote decision to all applicable clients after the shareholder meeting has taken place, except if the client is acting in the capacity as issuer of the proxy or dissident shareholder and is engaging through the established procedures independent of the client relationship. |
• | In certain instances, BlackRock may determine to engage an independent fiduciary to vote proxies as a further safeguard to avoid potential conflicts of interest or as otherwise required by applicable law. The independent fiduciary may either vote such proxies or provide BlackRock with instructions as to how to vote such proxies. In the latter case, BlackRock votes the proxy in accordance with the independent fiduciary’s determination. Use of an independent fiduciary has been |
adopted for voting the proxies related to any company that is affiliated with BlackRock or any company that includes BlackRock employees on its board of directors. |
2017 | ||||||
Country | Trade
Date |
Settlement
Date |
Number
of Days to Settle | |||
Brazil | 02/22/17 | 03/02/17 | 8 |
2017 | ||||||
Country | Trade
Date |
Settlement
Date |
Number
of Days to Settle | |||
02/23/17 | 03/03/17 | 8 | ||||
02/24/17 | 03/06/17 | 11 | ||||
China | 01/24/17 | 02/03/17 | 10 | |||
01/25/17 | 02/06/17 | 12 | ||||
01/26/17 | 02/07/17 | 12 | ||||
09/27/17 | 10/09/17 | 12 | ||||
09/28/17 | 10/10/17 | 12 | ||||
09/29/17 | 10/11/17 | 12 | ||||
Indonesia | 06/21/17 | 07/03/17 | 12 | |||
06/22/17 | 07/04/17 | 12 | ||||
06/23/17 | 07/05/17 | 12 | ||||
South Africa | 03/14/17 | 03/22/17 | 8 | |||
03/15/17 | 03/23/17 | 8 | ||||
03/16/17 | 03/24/17 | 8 | ||||
03/17/17 | 03/27/17 | 10 | ||||
03/20/17 | 03/28/17 | 8 | ||||
04/07/17 | 04/18/17 | 11 | ||||
04/10/17 | 04/19/17 | 9 | ||||
04/11/17 | 04/20/17 | 9 | ||||
04/12/17 | 04/21/17 | 9 | ||||
04/13/17 | 04/24/17 | 11 | ||||
04/20/17 | 04/28/17 | 8 | ||||
04/21/17 | 05/02/17 | 11 | ||||
04/24/17 | 05/03/17 | 9 | ||||
04/25/17 | 05/04/17 | 9 | ||||
04/26/17 | 05/05/17 | 9 | ||||
04/28/17 | 05/08/17 | 10 | ||||
06/09/17 | 06/19/17 | 10 | ||||
06/12/17 | 06/20/17 | 8 | ||||
06/13/17 | 06/21/17 | 8 | ||||
06/14/17 | 06/22/17 | 8 | ||||
06/15/17 | 06/23/17 | 8 | ||||
08/02/17 | 08/10/17 | 8 | ||||
08/03/17 | 08/11/17 | 8 | ||||
08/04/17 | 08/14/17 | 10 | ||||
08/07/17 | 08/15/17 | 8 | ||||
08/08/17 | 08/16/17 | 8 | ||||
09/18/17 | 09/26/17 | 8 | ||||
09/19/17 | 09/27/17 | 8 | ||||
09/20/17 | 09/28/17 | 8 | ||||
09/21/17 | 09/29/17 | 8 | ||||
09/22/17 | 10/02/17 | 10 | ||||
12/18/17 | 12/27/17 | 9 | ||||
12/19/17 | 12/28/17 | 9 | ||||
12/20/17 | 12/29/17 | 9 | ||||
12/21/17 | 01/03/18 | 13 | ||||
12/22/17 | 01/04/18 | 13 |
2017 | ||||||
Country | Trade
Date |
Settlement
Date |
Number
of Days to Settle | |||
Taiwan | 01/23/17 | 02/02/17 | 10 | |||
01/24/17 | 02/03/17 | 10 | ||||
Turkey | 08/28/17 | 09/05/17 | 8 | |||
08/29/17 | 09/06/17 | 8 | ||||
* | These worst-case redemption cycles are based on information regarding regular holidays, which may be out of date. Based on changes in holidays, longer (worse) redemption cycles are possible. |
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