iShares®
iShares Trust
iShares, Inc.
iShares U.S. ETF Trust
Supplement dated March 9, 2020 (the Supplement)
to the Summary Prospectus, Prospectus and
Statement of Additional Information (the SAI)
for each series of iShares Trust, iShares U.S. ETF Trust and iShares, Inc.
(each, a Fund)
The information in this Supplement updates information in, and should be read in conjunction with, the Summary Prospectus, Prospectus and SAI for each Fund.
Effective immediately, each Funds Summary Prospectus, Prospectus and SAI are amended as follows:
Change in each Funds Market Risk factor
The section of each Funds Summary Prospectus and Prospectus entitled Summary of Principal Risks is revised such that the following is appended to the end of the paragraph entitled Market Risk:
Local, regional or global events such as war, acts of terrorism, the spread of infectious illness or other public health issue, recessions, or other events could have a significant impact on the Fund and its investments and could result in increased premiums or discounts to the Funds net asset value.
The section of each Funds Prospectus entitled A Further Discussion of Principal Risks is revised such that the following is appended to the end of the paragraph entitled Market Risk:
Local, regional or global events such as war, acts of terrorism, the spread of infectious illness or other public health issue, recessions, or other events could have a significant impact on the Fund and its investments and could result in increased premiums or discounts to the Funds net asset value.
Change in each Funds General Considerations and Risks
The section of each Funds SAI entitled General Considerations and Risks is amended to add the following:
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. The value of a security or other instrument may decline due to changes in general market conditions, economic trends or events that are not specifically related to the issuer of the security or other instrument, or factors that affect a particular issuer or issuers, country, group of countries, region, market, industry, group of industries, sector or asset class. During a general market downturn, multiple asset classes may be negatively affected. Changes in market conditions and interest rates generally do not have the same impact on all types of securities and instruments.
An outbreak of infectious respiratory illness caused by a novel coronavirus known as COVID-19 was first detected in China in December 2019 and has now been detected globally. This coronavirus has resulted in travel restrictions, closed international borders, enhanced health screenings at ports of entry and elsewhere, disruption of and delays in healthcare service preparation and delivery, prolonged quarantines, cancellations, supply chain disruptions, and lower consumer demand, as well as general concern and uncertainty. The impact of COVID-19, and other infectious illness outbreaks that may arise in the future, could adversely affect the economies of many nations or the entire global economy, individual issuers and capital markets in ways that cannot necessarily be foreseen. In addition, the impact of infectious illnesses in emerging market countries may be greater due to generally less established healthcare systems. Public health crises caused by the COVID-19 outbreak may exacerbate other pre-existing political, social and economic risks in certain countries or globally. The duration of the COVID-19 outbreak and its effects cannot be determined with certainty.
iShares® is a registered trademark of BlackRock Fund Advisors and its affiliates.
IS-SUPP-ALL-FUNDS-0320
PLEASE RETAIN THIS SUPPLEMENT
FOR FUTURE REFERENCE