IMPORTANT NOTICE REGARDING CHANGE IN INVESTMENT POLICY
iShares®
iShares Trust
iShares, Inc.
Supplement dated August 10, 2020 (the Supplement)
to the Summary Prospectus, Prospectus
and Statement of Additional Information (the SAI),
each dated as noted on the last page of this Supplement,
for each of the iShares ESG Aware 1-5 Year USD Corporate Bond ETF (SUSB),
iShares ESG Aware USD Corporate Bond ETF (SUSC) and
iShares MSCI Emerging Markets ex China ETF (EMXC)
(each, a Fund and collectively, the Funds)
The information in this Supplement updates information in, and should be read in conjunction with, the Summary Prospectus, Prospectus and SAI for each Fund.
Change in each Funds Summary of Principal Risks
The section of each Funds Summary Prospectus and Prospectus entitled Summary of Principal Risks is amended to delete the paragraph entitled Non-Diversification Risk.
Change in each Funds A Further Discussion of Principal Risks
The section of each Funds Prospectus entitled A Further Discussion of Principal Risks is amended to delete the paragraph entitled Non-Diversification Risk.
Changes in the Funds Investment Strategies and Risks
The section of the iShares ESG Aware 1-5 Year USD Corporate Bond ETFs and iShares ESG Aware USD Corporate Bond ETFs SAI entitled Investment Strategies and Risks is amended at the sub-section Diversification Status to move each Fund from the Non-Diversified Funds column of the table to the Diversified Funds column.
The section of the iShares MSCI Emerging Markets ex China ETFs SAI entitled Investment Strategies and Risks is amended to delete the first full paragraph of the sub-section entitled Diversification Status in its entirety and replace it with the following:
The Fund is classified as a diversified fund under the 1940 Act. This means that the Fund may not purchase securities of an issuer (other than (i) obligations issued or guaranteed by the U.S. government, its
agencies or instrumentalities and (ii) securities of other investment companies) if, with respect to 75% of its total assets, (a) more than 5% of the Funds total assets would be invested in securities of that issuer or (b) the Fund would hold more than 10% of the outstanding voting securities of that issuer. With respect to the remaining 25% of its total assets, the Fund may invest more than 5% of its assets in one issuer. Under the 1940 Act, the Fund cannot change its classification from diversified to non-diversified without shareholder approval.
Supplement to the Summary Prospectus, Prospectus and SAI, each dated as of June 29, 2020:
iShares ESG Aware 1-5 Year USD Corporate Bond ETF (SUSB)
iShares ESG Aware USD Corporate Bond ETF (SUSC)
Supplement to the Summary Prospectus and Prospectus, each dated as of December 30, 2019 (revised as of March 27, 2020) and the SAI, dated December 30, 2019 (revised as of April 16, 2020):
iShares MSCI Emerging Markets ex China ETF (EMXC)
If you have any questions, please call 1-800-iShares (1-800-474-2737).
iShares® is a registered trademark of BlackRock Fund Advisors and its affiliates.
IS-A-SUSB_SUSC_EMXC-S1-0820
PLEASE RETAIN THIS SUPPLEMENT
FOR FUTURE REFERENCE