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(as revised November 14, 2022) |
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2021 Prospectus |
• | iShares MSCI Emerging Markets Multifactor ETF | EMGF | CBOE BZX |
Ticker: EMGF | Stock Exchange: Cboe BZX |
(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 Expenses 1 |
Acquired Fund Fees and Expenses1 |
Total Annual Fund Operating Expenses |
Fee Waiver1 | Total Annual Fund Operating Expenses After Fee Waiver | ||||||
( |
1 |
1 Year | 3 Years | 5 Years | 10 Years | |||
$ |
$ |
$ |
$ |
1 |
One Year | Five Years | Since Fund Inception | |||
(Inception Date: |
|||||
Return Before Taxes | |||||
Return After Taxes on Distributions1 | |||||
Return After Taxes on Distributions and Sale of Fund Shares1 | |||||
MSCI Emerging Markets Diversified Multiple-Factor Index (Index returns do not reflect deductions for fees, expenses or taxes) |
1 |
■ | General Impact. This outbreak 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, lower consumer demand, temporary and permanent closures of stores, restaurants and other commercial establishments, layoffs, defaults and other significant economic impacts, as well as general concern and uncertainty. |
■ | Market Volatility. The outbreak has also resulted in extreme volatility, severe losses, and disruptions in markets which can adversely impact the Fund and its investments, including impairing hedging activity to the extent a Fund engages in such activity, as expected correlations between related markets or instruments may no longer apply. In addition, to the extent the Fund invests in short-term instruments that have negative yields, the Fund’s value may be impaired as a result. Certain issuers of equity securities have cancelled or announced the suspension of dividends. The outbreak has, and may continue to, negatively affect the credit ratings of some fixed-income securities and their issuers. |
■ | Market Closures. Certain local markets have been or may be subject to closures, and there can be no assurance that trading will continue in any local markets in which the Fund may invest, when any resumption of trading will occur or, once such markets resume trading, whether they will face further closures. Any suspension of trading in markets in which the Fund invests will have an impact on the Fund and its investments and will impact the Fund’s ability to purchase or sell securities in such markets. |
■ | Operational Risk. The outbreak could also impair the information technology and other operational systems upon which the Fund’s service providers, including BFA, rely, and could otherwise disrupt the ability of employees of the Fund's service providers to perform critical tasks relating to the Fund, for example, due to the service providers’ employees performing tasks in alternate locations than under normal operating conditions or the illness of certain employees of the Fund's service providers. |
■ | Governmental Interventions. Governmental and quasi-governmental authorities and regulators throughout the world have responded to the outbreak and the resulting economic disruptions with a variety of fiscal and monetary policy changes, including direct capital infusions into companies and other issuers, new monetary policy tools, and lower interest rates. An unexpected or sudden reversal of these policies, or the ineffectiveness of such policies, is likely to increase market volatility, which could adversely affect the Fund’s investments. |
■ | Pre-Existing Conditions. Public health crises caused by the outbreak may exacerbate other pre-existing political, social and economic risks in certain countries or globally, |
which could adversely affect the Fund and its investments and could result in increased premiums or discounts to the Fund's NAV. |
■ | Government intervention in issuers' operations or structure; |
■ | A lack of market 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 the risk of being delisted from U.S. exchanges; and |
■ | Legal principles relating to corporate governance, directors’ fiduciary duties and liabilities and stockholders’ rights in markets in which the Fund invests may differ from or may not be as extensive or protective as those that apply in the U.S. |
■ | 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; |
■ | 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; and |
■ | The risk that various responses by other nation-states to alleged Russian cyber activity will impact Russia’s economy and Russian issuers of securities in which the Fund invests. |
iShares MSCI Emerging Markets Multifactor ETF | |||||||||
Year Ended 08/31/21 |
Year Ended 08/31/20 |
Year Ended 08/31/19 |
Year Ended 08/31/18 |
Year Ended 08/31/17 | |||||
Net asset value, beginning of year | $44.03 | $40.35 | $44.78 | $46.04 | $37.46 | ||||
Net investment income(a) | 1.23 | 1.11 | 1.47 | 1.39 | 0.91 | ||||
Net realized and unrealized gain (loss)(b) | 9.24 | 3.73 | (4.72) | (1.63) | 8.53 | ||||
Net increase (decrease) from investment operations | 10.47 | 4.84 | (3.25) | (0.24) | 9.44 | ||||
Distributions(c) | |||||||||
From net investment income | (0.89) | (1.16) | (1.18) | (1.02) | (0.86) | ||||
Total distributions | (0.89) | (1.16) | (1.18) | (1.02) | (0.86) | ||||
Net asset value, end of year | $53.61 | $44.03 | $40.35 | $44.78 | $46.04 | ||||
Total Return(d) | |||||||||
Based on net asset value | 23.97% | 12.17% | (7.16)% | (0.65)% | 25.80% | ||||
Ratios to Average Net Assets | |||||||||
Total expenses | 0.45% | 0.45% | 0.45% | 0.45%(e) | 0.50%(e) | ||||
Total expenses after fees waived | 0.45% | 0.45% | 0.45% | 0.42%(e) | 0.42%(e) | ||||
Net investment income | 2.44% | 2.71% | 3.55% | 2.87% | 2.24% | ||||
Supplemental Data | |||||||||
Net assets, end of year (000) | $761,199 | $541,608 | $411,575 | $291,071 | $82,873 | ||||
Portfolio turnover rate(f) | 49% | 45% | 53% | 39%(g) | 36%(g) | ||||
(a) Based on average shares outstanding. | |||||||||
(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) Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | |||||||||
(d) Where applicable, assumes the reinvestment of distributions. | |||||||||
(e) The Fund indirectly bears its proportionate share of fees and expenses incurred by the underlying fund in which the Fund is invested (“acquired fund fees and expenses”). This ratio does not include these acquired fund fees and expenses. | |||||||||
(f) Portfolio turnover rate excludes in-kind transactions. | |||||||||
(g) Portfolio turnover rate excludes the portfolio activity of the underlying fund in which the Fund is invested. See the underlying fund's financial highlights for its respective portfolio turnover rates. |
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 |
Funds | Ticker | Listing Exchange | ||
iShares Core MSCI Emerging Markets ETF | IEMG | NYSE Arca | ||
iShares ESG Aware MSCI EM ETF | ESGE | Nasdaq | ||
iShares MSCI Brazil ETF | EWZ | NYSE Arca | ||
iShares MSCI BIC ETF | BKF | NYSE Arca | ||
iShares MSCI Chile ETF | ECH | Cboe BZX | ||
iShares MSCI Colombia ETF | ICOL | NYSE Arca | ||
iShares MSCI Emerging Markets Asia ETF | EEMA | Nasdaq | ||
iShares MSCI Emerging Markets ETF | EEM | NYSE Arca | ||
iShares MSCI Emerging Markets Min Vol Factor ETF | EEMV | Cboe BZX | ||
iShares MSCI Emerging Markets Multifactor ETF | EMGF | Cboe BZX | ||
iShares MSCI Emerging Markets Small-Cap ETF | EEMS | NYSE Arca | ||
iShares MSCI Frontier and Select EM ETF | FM | NYSE Arca | ||
iShares MSCI Global Agriculture Producers ETF | VEGI | NYSE Arca | ||
iShares MSCI Global Energy Producers ETF | FILL | NYSE Arca | ||
iShares MSCI Global Gold Miners ETF | RING | Nasdaq | ||
iShares MSCI Global Metals & Mining Producers ETF | PICK | Cboe BZX | ||
iShares MSCI Global Min Vol Factor ETF | ACWV | Cboe BZX | ||
iShares MSCI Global Silver and Metals Miners ETF | SLVP | Cboe BZX | ||
iShares MSCI Malaysia ETF | EWM | NYSE Arca | ||
iShares MSCI South Korea ETF | EWY | NYSE Arca | ||
iShares MSCI Taiwan ETF | EWT | NYSE Arca |
• | iShares Core MSCI Emerging Markets ETF |
• | iShares ESG Aware MSCI EM ETF |
• | iShares MSCI Brazil ETF |
• | iShares MSCI BIC ETF 1 |
• | iShares MSCI Chile ETF |
• | iShares MSCI Colombia ETF |
• | iShares MSCI Emerging Markets Asia ETF |
• | iShares MSCI Emerging Markets ETF |
• | iShares MSCI Emerging Markets Min Vol Factor ETF |
• | iShares MSCI Emerging Markets Multifactor ETF |
• | iShares MSCI Emerging Markets Small-Cap ETF |
• | iShares MSCI Frontier and Select EM ETF2 |
• | iShares MSCI Global Agriculture Producers ETF |
• | iShares MSCI Global Energy Producers ETF |
• | iShares MSCI Global Gold Miners ETF |
• | iShares MSCI Global Metals & Mining Producers ETF |
• | iShares MSCI Global Min Vol Factor ETF |
• | iShares MSCI Global Silver and Metals Miners ETF |
• | iShares MSCI Malaysia ETF |
• | iShares MSCI South Korea ETF |
• | iShares MSCI Taiwan ETF |
1 | On March 10, 2022, the name of the Fund changed from iShares MSCI BRIC ETF to iShares MSCI BIC ETF. On July 14, 2022 the Fund’s underlying index changed from the MSCI BRIC Index to the MSCI BIC Index. |
2 | On March 1, 2021, the name of the Fund changed from iShares MSCI Frontier 100 ETF to iShares MSCI Frontier and Select EM ETF, and the Fund’s underlying index changed from the MSCI Frontier Markets 100 Index to the MSCI Frontier and Emerging Markets Select Index. |
Diversified Funds | Non-Diversified Funds | |
iShares Core MSCI Emerging Markets ETF* | iShares MSCI Brazil ETF | |
iShares ESG Aware MSCI EM ETF | iShares MSCI Chile ETF | |
iShares MSCI BIC ETF* | iShares MSCI Colombia ETF | |
iShares MSCI Emerging Markets Asia ETF | iShares MSCI Global Agriculture Producers ETF | |
iShares MSCI Emerging Markets ETF* | iShares MSCI Global Energy Producers ETF | |
iShares MSCI Emerging Markets Min Vol Factor ETF | iShares MSCI Global Gold Miners ETF | |
iShares MSCI Emerging Markets Multifactor ETF | iShares MSCI Global Metals & Mining Producers ETF | |
iShares MSCI Emerging Markets Small-Cap ETF | iShares MSCI Global Silver and Metals Miners ETF | |
iShares MSCI Frontier and Select EM ETF | iShares MSCI Malaysia ETF | |
iShares MSCI Global Min Vol Factor ETF | iShares MSCI South Korea ETF | |
iShares MSCI Taiwan ETF |
• | With respect to a foreign entity that holds the Indian assets directly, if the transferor of share or interest in such a foreign entity (along with its associated enterprises), at any time in the twelve months preceding the year of transfer neither holds the right of control or management in the foreign entity, nor holds voting power or share capital or interest exceeding 5% of the total voting power or total share capital or total interest in such foreign entity. |
• | With respect to a foreign entity that holds the Indian assets indirectly, if the transferor of share or interest in such foreign entity (along with its associated enterprises), at any time in the twelve months preceding the year of transfer does not hold the right of control or management in relation to the foreign entity, which would entitle them to the right of control or management in the foreign entity which directly holds the Indian assets; or does not hold voting power or share capital or interest exceeding 5% of the total voting power or total share capital or total interest in the foreign entity, which results in holding the same share capital or voting power in the entity which directly holds the Indian assets. |
• | creates rights, or obligations, which are not ordinarily created between persons dealing at arm's length; |
• | results, directly or indirectly, in the misuse, or abuse, of the provisions of IT Act; |
• | lacks commercial substance; or |
• | is entered into, or carried out, by means, or in a manner, which are not ordinarily employed for bona fide purposes. |
• | any arrangement where the aggregate tax benefit to all the parties of the arrangement in the relevant financial year does not exceed INR 30 Million; |
• | foreign institutional investors (“FIIs”) that choose not to take any benefit under any tax treaty entered with India and has invested in listed or unlisted securities with prior permission of the competent authority in accordance with the applicable regulations; |
• | non-resident investor in an FII who has invested in an FII, directly or indirectly, by way of an offshore derivative instrument or otherwise; or |
• | any income derived from the transfer of shares or interests made prior to April 1, 2017. |
• | Communications of Data Files: A Fund may make available through the facilities of the National Securities Clearing Corporation (“NSCC”) or through posting on the www.iShares.com, prior to the opening of trading on each business day, a list of a Fund’s holdings (generally pro-rata) that Authorized Participants could deliver to a Fund to settle purchases of a Fund (i.e. Deposit Securities) or that Authorized Participants would receive from a Fund to settle redemptions of a Fund (i.e. Fund Securities). These files are known as the Portfolio Composition File and the Fund Data File (collectively, “Files”). The Files are applicable for the next trading day and are provided to the NSCC and/or posted on www.iShares.com after the close of markets in the U.S. |
• | Communications with Authorized Participants and Liquidity Providers: Certain employees of BFA are responsible for interacting with Authorized Participants and liquidity providers with respect to discussing custom basket proposals as described in the Custom Baskets section of this SAI. As part of these discussions, these employees may discuss with an |
Authorized Participant or liquidity provider the securities a Fund is willing to accept for a creation, and securities that a Fund will provide on a redemption. |
• | Communications with Listing Exchanges: From time to time, employees of BFA may discuss portfolio holdings information with the applicable primary listing exchange for a Fund as needed to meet the exchange listing standards. |
• | Communications with Other Portfolio Managers: Certain information may be provided to employees of BFA who manage funds that invest a significant percentage of their assets in shares of an underlying fund as necessary to manage the fund’s investment objective and strategy. |
• | Communication of Other Information: Certain explanatory information regarding the Files is released to Authorized Participants and liquidity providers on a daily basis, but is only done so after the Files are posted to www.iShares.com. |
• | Third-Party Service Providers: Certain portfolio holdings information may be disclosed to Fund Directors and their counsel, outside counsel for the Funds, auditors and to certain third-party service providers (i.e., fund administrator, custodian, proxy voting service) for which a non-disclosure, confidentiality agreement or other obligation is in place with such service providers, as may be necessary to conduct business in the ordinary course in a manner consistent with applicable policies, agreements with the Funds, the terms of the current registration statements and federal securities laws and regulations thereunder. |
• | Liquidity Metrics: “Liquidity Metrics,” which seek to ascertain a Fund’s liquidity profile under BlackRock’s global liquidity risk methodology, include but are not limited to: (a) disclosure regarding the number of days needed to liquidate a portfolio or the portfolio’s underlying investments; and (b) the percentage of a Fund’s NAV invested in a particular liquidity tier under BlackRock’s global liquidity risk methodology. The dissemination of position-level liquidity metrics data and any non-public regulatory data pursuant to the Liquidity Rule (including SEC liquidity tiering) is not permitted unless pre-approved. Disclosure of portfolio-level liquidity metrics prior to 60 calendar days after calendar quarter-end requires a non-disclosure or confidentiality agreement and approval of the Company’s Chief Compliance Officer. Portfolio-level liquidity metrics disclosure subsequent to 60 calendar days after calendar quarter-end requires the approval of portfolio management and must be disclosed to all parties requesting the information if disclosed to any party. |
• | Achieving global size integrity by ensuring that companies of comparable and relevant sizes are included in a given size segment across all markets in a composite index; and |
• | Achieving consistent market coverage by ensuring that each market's size segment is represented in its proportional weight in the composite universe. |
• | MSCI Global Standard Indexes cover all investable large- and mid-cap securities by including the largest issuers comprising approximately 85% of each market’s free float-adjusted market capitalization. |
• | MSCI Global Large Cap Indexes provide coverage of all investable large-cap securities by including the largest issuers comprising approximately 70% of each market’s free float-adjusted market capitalization. |
• | MSCI Global Mid Cap Indexes provide coverage in each market by deriving the difference between the market coverage of the MSCI Global Standard Index and the MSCI Global Large Cap Index in that market. |
• | MSCI Global Small Cap Indexes provide coverage of companies with a market capitalization below that of the companies in the MSCI Global Standard Indexes. |
• | Semi-Annual Index Reviews (“SAIRs”), conducted on a fixed semi-annual timetable that systematically reassess the various dimensions of the equity universe for all markets; |
• | Quarterly Index Reviews (“QIRs”), aimed at promptly reflecting other significant market events; and |
• | Ongoing event-related changes, such as mergers, acquisitions, spin-offs, bankruptcies, reorganizations and other similar corporate events, which generally are implemented in the indexes as they occur. |
• | The maximum weight of an index constituent will be the lower of 1.5% or 20 times its weight in the MSCI Global Standard Index; |
• | The minimum weight of an index constituent will be 0.05%; |
• | For countries in the MSCI Global Standard Index with weight greater than or equal to 2.5% in the parent index, the MSCI Global Minimum Volatility Indexes weight will not deviate by more than ±5% of its weight in the MSCI Global Standard Index; |
• | For countries in the MSCI Global Standard Index with weight less than 2.5% in the parent index, the maximum MSCI Global Minimum Volatility Indexes weight will be three times its weight in the MSCI Global Standard Index; |
• | Sector weights will not deviate by more than ±5% from its weight in the MSCI Global Standard Index; |
• | Exposure to risk indices from Barra’s multi-factor risk model, including (i) Momentum; (ii) Value; (iii) Size; (iv) Size Nonlinearity; (v) Growth; (vi) Liquidity; and (vii) Financial Leverage will be limited to ±0.25 standard deviations relative to the MSCI Global Standard Index; exposure to the volatility risk index will be unlimited; and |
• | The maximum one-way turnover will be 10%. |
• | Poultry and Livestock: companies are included only if they are significantly involved in the breeding of animals by themselves or through contract farming; |
• | Dairy: manufacturers of milk and milk products such as cheese and yogurt, are excluded due to the absence of revenue break up; |
• | Sugar: manufacturers of sugar are included even if they do not farm sugarcane. Companies selling sweeteners, sugar free, syrups, etc. are excluded; |
• | Edible oil: companies processing edible oil without cultivating the plantation are excluded; |
• | Confectioneries and snacks: manufacturers of finished products are excluded due to their presence at the lower spectrum of the value chain; |
• | Coffee: coffee companies are excluded due to their reliance on external parties for raw materials; and |
• | Fishing: fishing companies are generally included, whether they operate fisheries or receive their catch from the ocean. |
1. | Concentrate its investments in a particular industry, as that term is used in the Investment Company Act, except that each Fund will concentrate to approximately the same extent that its Underlying Index concentrates in the securities of a particular industry or group of industries. |
2. | Borrow money, except as permitted under the Investment Company Act. |
3. | Issue senior securities to the extent such issuance would violate the Investment Company Act. |
4. | Purchase or hold real estate, except each Fund may purchase and hold securities or other instruments that are secured by, or linked to, real estate or interests therein, securities of REITs, mortgage-related securities and securities of issuers engaged in the real estate business, and each Fund may purchase and hold real estate as a result of the ownership of securities or other instruments. |
5. | Underwrite securities issued by others, except to the extent that the sale of portfolio securities by each Fund may be deemed to be an underwriting or as otherwise permitted by applicable law. |
6. | Purchase or sell commodities or commodity contracts, except as permitted by the Investment Company Act. |
7. | Make loans to the extent prohibited by the Investment Company Act. |
1. | Make loans, except as permitted under the 1940 Act, as interpreted, modified or otherwise permitted by regulatory authority having jurisdiction, from time to time; |
2. | Issue any senior security, except as permitted under the 1940 Act, as interpreted, modified or otherwise permitted by regulatory authority having jurisdiction, from time to time; |
3. | Pledge, hypothecate, mortgage or otherwise encumber its assets, except to secure permitted borrowings. (The deposit |
of underlying securities and other assets in escrow and collateral arrangements with respect to initial or variation margin for currency transactions and futures contracts will not be deemed to be pledges of the Fund’s assets); | |
4. | Purchase, hold or deal in real estate, or oil, gas or mineral interests or leases, but the Fund may purchase and sell securities that are issued by companies that invest or deal in such assets; |
5. | Act as an underwriter of securities of other issuers, except to the extent the Fund may be deemed an underwriter in connection with the sale of securities in its portfolio; |
6. | Purchase securities on margin, except for such short-term credits as are necessary for the clearance of transactions, except that the Fund may make margin deposits in connection with transactions in currencies, options, futures and options on futures; |
7. | Sell securities short; or |
8. | Invest in commodities or commodity contracts, except that the Fund may buy and sell currencies and forward contracts with respect thereto, and may transact in futures contracts on securities, stock indices and currencies and options on such futures contracts and make margin deposits in connection with such contracts. |
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 each Fund will concentrate to approximately the same extent that its Underlying Index concentrates in the securities of such 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) each 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) each 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), each 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 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 each 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 each Fund from investing in securities of companies engaged in the production, ownership or distribution of commodities or in commodity-related businesses for the iShares Frontier and Select EM ETF, iShares MSCI Global Agriculture Producers ETF, iShares MSCI Global Energy Producers ETF, iShares MSCI Global Gold Miners ETF, iShares MSCI Global Metals & Mining Producers ETF and iShares MSCI Global Silver and Metals Miners ETF or from trading in futures contracts and options on futures contracts, including options on currencies to the extent consistent with each Fund’s investment objective and policies). |
6. | Engage in the business of underwriting securities issued by other persons, except to the extent that each Fund may technically be deemed to be an underwriter under the 1933 Act, in disposing of portfolio securities. |
1. | Lend any funds or other assets except through the purchase of all or a portion of an issue of securities or obligations of the type in which it is permitted to invest (including participation interests in such securities or obligations) and except that a Fund may lend its portfolio securities in an amount not to exceed 33 1/3% of the value of its total assets; |
2. | Issue senior securities or borrow money, except borrowings from banks for temporary or emergency purposes in an amount up to 33 1/3% of the value of the Fund’s total assets (including the amount borrowed), valued at the lesser of cost or market, less liabilities (not including the amount borrowed) valued at the time the borrowing is made, and the Fund will not purchase securities while borrowings in excess of 5% of the Fund’s total assets are outstanding, provided, that for purposes of this restriction, short-term credits necessary for the clearance of transactions are not considered borrowings; |
3. | Pledge, hypothecate, mortgage or otherwise encumber its assets, except to secure permitted borrowings. (The deposit of underlying securities and other assets in escrow and collateral arrangements with respect to initial or variation margin for currency transactions and futures contracts will not be deemed to be pledges of the Fund’s assets); |
4. | Purchase a security (other than obligations of the U.S. government, its agencies or instrumentalities) if as a result 25% or more of its total assets would be invested in a single issuer. (This restriction applies to the iShares MSCI South Korea ETF only); |
5. | Purchase, hold or deal in real estate, or oil, gas or mineral interests or leases, but a Fund may purchase and sell securities that are issued by companies that invest or deal in such assets; |
6. | Act as an underwriter of securities of other issuers, except to the extent the Fund may be deemed an underwriter in connection with the sale of securities in its portfolio; |
7. | Purchase securities on margin, except for such short-term credits as are necessary for the clearance of transactions, except that a Fund may make margin deposits in connection with transactions in currencies, options, futures and options on futures; |
8. | Sell securities short; or |
9. | Invest in commodities or commodity contracts, except that a Fund may buy and sell currencies and forward contracts with respect thereto, and may transact in futures contracts on securities, stock indices and currencies and options on such futures contracts and make margin deposits in connection with such contracts. |
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 such 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 “senior securities” as defined in the 1940 Act and the rules, regulations and orders thereunder, except as permitted under the 1940 Act and the rules, regulation and orders thereunder. |
4. | Make loans, except as permitted under the 1940 Act, and 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. |
Fund | Industry or Industries | |
iShares MSCI Colombia ETF | Banks | |
iShares MSCI Colombia ETF | Oil & Gas | |
iShares MSCI Frontier and Select EM ETF | Banks | |
iShares MSCI Global Agriculture Producers ETF | Machinery Diversified | |
iShares MSCI Global Agriculture Producers ETF | Chemicals | |
iShares MSCI Global Energy Producers ETF | Oil & Gas | |
iShares MSCI Global Gold Miners ETF | Mining | |
iShares MSCI Global Metals & Mining Producers ETF | Mining | |
iShares MSCI Global Metals & Mining Producers ETF | Iron/Steel | |
iShares MSCI Global Silver and Metals Miners ETF | Mining | |
iShares MSCI Malaysia ETF | Banks | |
iShares MSCI South Korea ETF | Semiconductors | |
iShares MSCI Taiwan ETF | Semiconductors |
Name (Age) | Position | Principal Occupation(s) During the Past 5 Years |
Other Directorships Held by Director | |||
Robert S. Kapito1 (64) |
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). | |||
Salim Ramji2 (51) |
Director (since 2019). | Senior Managing Director, BlackRock, Inc. (since 2014); Global Head of BlackRock’s ETF and Index Investments Business (since 2019); Head of BlackRock’s U.S. Wealth Advisory Business (2015-2019); Global Head of Corporate Strategy, BlackRock, Inc. (2014-2015); Senior Partner, McKinsey & Company (2010-2014). | Trustee of iShares Trust (since 2019); Trustee of iShares U.S. ETF Trust (since 2019). |
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 | Salim Ramji 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 | |||
John E. Kerrigan (67) |
Director (since 2005); Independent Board Chair (since 2022). |
Chief Investment Officer, Santa Clara University (since 2002). | 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 2022). | |||
Jane D. Carlin (65) |
Director (since 2015); Risk Committee Chair (since 2016). |
Consultant (since 2012); Member of the Audit Committee (2012-2018), Chair of the Nominating and Governance Committee (2017-2018) and Director of PHH Corporation (mortgage solutions) (2012-2018); 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); Member of the Audit Committee (since 2016), Chair of the Audit Committee (since 2020) and Director of The Hanover Insurance Group, Inc. (since 2016). |
Name (Age) | Position | Principal Occupation(s) During the Past 5 Years |
Other Directorships Held by Director | |||
Richard L. Fagnani (67) |
Director (since 2017); Audit Committee Chair (since 2019). |
Partner, KPMG LLP (2002-2016). | Trustee of iShares Trust (since 2017); Trustee of iShares U.S. ETF Trust (since 2017). | |||
Cecilia H. Herbert (73) |
Director (since 2005); Nominating and Governance and Equity Plus Committee Chairs (since 2022). |
Chair of the Finance Committee (since 2019) and Trustee and Member of the Finance, Audit and Quality Committees of Stanford Health Care (since 2016); Trustee of WNET, New York's public media company (since 2011) and Member of the Audit Committee (since 2018) and Investment Committee (since 2011); Chair (1994-2005) and Member (since 1992) of the Investment Committee, Archdiocese of San Francisco; Trustee of Forward Funds (14 portfolios) (2009-2018); Trustee of Salient MF Trust (4 portfolios) (2015-2018); 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; Director of the Senior Center of Jackson Hole (since 2020). | Trustee of iShares Trust (since 2005); Trustee of iShares U.S. ETF Trust (since 2011); Trustee of Thrivent Church Loan and Income Fund (since 2019). | |||
Drew E. Lawton (62) |
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 (60) |
Director (since 2003); Securities Lending Committee Chair (since 2019). |
Director of Real Estate Equity Exchange, Inc. (since 2005); Director of Cloudera Foundation (2017-2020); and Director of Reading Partners (2012-2016). | 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 (57) |
Director (since 2011); Fixed Income Plus Committee Chair (since 2019). |
Dean, and George Pratt Shultz Professor of Accounting, University of Chicago Booth School of Business (since 2017); Advisory Board Member (since 2016) and Director (since 2020) of C.M. Capital Corporation; Chair of the Board for the Center for Research in Security Prices, LLC (since 2020); 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). |
Name (Age) | Position | Principal Occupation(s) During the Past 5 Years | ||
Armando Senra (51) |
President (since 2019). | Managing Director, BlackRock, Inc. (since 2007); Head of U.S., Canada and Latin America iShares, BlackRock, Inc. (since 2019); Head of Latin America Region, BlackRock, Inc. (2006-2019); Managing Director, Bank of America Merrill Lynch (1994-2006). | ||
Trent Walker (48) |
Treasurer and Chief Financial Officer (since 2020). |
Managing Director of BlackRock, Inc. (since September 2019); Chief Financial Officer of iShares Delaware Trust Sponsor LLC, BlackRock Funds, BlackRock Funds II, BlackRock Funds IV, BlackRock Funds V and BlackRock Funds VI (since 2021); Executive Vice President of PIMCO (2016-2019); Senior Vice President of PIMCO (2008-2015); Treasurer (2013-2019) and Assistant Treasurer (2007-2017) of PIMCO Funds, PIMCO Variable Insurance Trust, PIMCO ETF Trust, PIMCO Equity Series, PIMCO Equity Series VIT, PIMCO Managed Accounts Trust, 2 PIMCO-sponsored interval funds and 21 PIMCO-sponsored closed-end funds. |
Name (Age) | Position | Principal Occupation(s) During the Past 5 Years | ||
Charles Park (54) |
Chief Compliance Officer (since 2006). | Chief Compliance Officer of BlackRock Advisors, LLC and the BlackRock-advised Funds in the BlackRock Multi-Asset Complex and the BlackRock Fixed-Income Complex (since 2014); Chief Compliance Officer of BFA (since 2006). | ||
Marisa Roland(41) | Secretary (since 2022). | Director, BlackRock, Inc. (since 2018); Vice President, BlackRock, Inc. (2010-2017). | ||
Rachel Aguirre(40) | Executive Vice President (since 2022). |
Managing Director, BlackRock, Inc. (since 2018); Director, BlackRock, Inc. (2009-2018); Head of U.S. iShares Product (since 2022); Head of EII U.S. Product Engineering (since 2021); Co-Head of EII’s Americas Portfolio Engineering (2020-2021); Head of Developed Markets Portfolio Engineering (2016-2019). | ||
Jennifer Hsui (46) | Executive Vice President (since 2022). |
Managing Director, BlackRock, Inc. (since 2009); Co-Head of Index Equity (since 2022). | ||
James Mauro (51) | Executive Vice President (since 2021). |
Managing Director, BlackRock, Inc. (since 2010); Head of Fixed Income Index Investments in the Americas and Head of San Francisco Core Portfolio Management (since 2020). |
Name | Fund | Dollar Range of Equity Securities in Named Fund |
Aggregate Dollar Range of Equity Securities in all Registered Investment Companies Overseen by Director in Family of Investment Companies | |||
Robert S. Kapito | None | None | None | |||
Salim Ramji | iShares Broad USD Investment Grade Corporate Bond ETF | $10,001-$50,000 | Over $100,000 | |||
iShares Commodity Curve Carry Strategy ETF | $50,001-$100,000 | |||||
iShares Core MSCI Emerging Markets ETF | Over $100,000 | |||||
iShares Core MSCI Total International Stock ETF | $1-$10,000 | |||||
iShares Core S&P 500 ETF | $1-$10,000 | |||||
iShares Core S&P Mid-Cap ETF | Over $100,000 | |||||
iShares Core S&P Small-Cap ETF | $50,001-$100,000 | |||||
iShares Core S&P Total U.S. Stock Market ETF | $1-$10,000 | |||||
iShares Expanded Tech Sector ETF | $1-$10,000 | |||||
iShares Expanded Tech-Software Sector ETF | $1-$10,000 | |||||
iShares GSCI Commodity Dynamic Roll Strategy ETF | $10,001-$50,000 | |||||
iShares MSCI USA ESG Select ETF | $1-$10,000 | |||||
iShares Robotics and Artificial Intelligence Multisector ETF | $1-$10,000 | |||||
iShares TIPS Bond ETF | $10,001-$50,000 | |||||
John E. Kerrigan | iShares Core MSCI EAFE ETF | $10,001-$50,000 | Over $100,000 | |||
iShares Core S&P 500 ETF | Over $100,000 | |||||
iShares Core S&P Small-Cap ETF | $10,001-$50,000 | |||||
iShares ESG Advanced MSCI EAFE ETF | $1-$10,000 | |||||
iShares ESG Advanced MSCI USA ETF | $1-$10,000 | |||||
iShares ESG Aware MSCI EAFE ETF | $10,001-$50,000 |
Name | Fund | Dollar Range of Equity Securities in Named Fund |
Aggregate Dollar Range of Equity Securities in all Registered Investment Companies Overseen by Director in Family of Investment Companies | |||
iShares ESG Aware MSCI EM ETF | Over $100,000 | |||||
iShares ESG Aware MSCI USA ETF | Over $100,000 | |||||
iShares ESG Aware MSCI USA Small-Cap ETF | $1-$10,000 | |||||
iShares Global Clean Energy ETF | Over $100,000 | |||||
iShares Global Infrastructure ETF | Over $100,000 | |||||
iShares Global Tech ETF | $50,001-$100,000 | |||||
iShares MSCI ACWI ex U.S. ETF | Over $100,000 | |||||
iShares MSCI EAFE Growth ETF | Over $100,000 | |||||
iShares MSCI KLD 400 Social ETF | $10,001-$50,000 | |||||
iShares MSCI USA ESG Select ETF | $1-$10,000 | |||||
iShares MSCI USA Min Vol Factor ETF | $10,001-$50,000 | |||||
iShares MSCI USA Quality Factor ETF | $10,001-$50,000 | |||||
iShares MSCI USA Value Factor ETF | $50,001-$100,000 | |||||
iShares U.S. Medical Devices ETF | $10,001-$50,000 | |||||
Jane D. Carlin | iShares Core MSCI EAFE ETF | Over $100,000 | Over $100,000 | |||
iShares Core MSCI Emerging Markets ETF | $10,001-$50,000 | |||||
iShares Core S&P Mid-Cap ETF | $10,001-$50,000 | |||||
iShares Core S&P Small-Cap ETF | Over $100,000 | |||||
iShares Core U.S. Aggregate Bond ETF | $50,001-$100,000 | |||||
iShares Global Tech ETF | $50,001-$100,000 | |||||
iShares iBoxx $ High Yield Corporate Bond ETF | Over $100,000 | |||||
iShares MSCI ACWI ETF | Over $100,000 | |||||
iShares MSCI ACWI ex U.S. ETF | Over $100,000 | |||||
iShares MSCI EAFE Small-Cap ETF | $10,001-$50,000 | |||||
iShares MSCI Emerging Markets Small-Cap ETF | $10,001-$50,000 | |||||
iShares MSCI USA Min Vol Factor ETF | $50,001-$100,000 | |||||
iShares Select Dividend ETF | $10,001-$50,000 | |||||
Richard L. Fagnani | iShares Core Dividend Growth ETF | $10,001-$50,000 | Over $100,000 | |||
iShares Core MSCI EAFE ETF | $10,001-$50,000 | |||||
iShares Exponential Technologies ETF | $10,001-$50,000 | |||||
iShares Global Clean Energy ETF | $10,001-$50,000 | |||||
iShares MBS ETF | $10,001-$50,000 | |||||
iShares MSCI All Country Asia ex Japan ETF | $10,001-$50,000 | |||||
iShares MSCI EAFE Value ETF | $10,001-$50,000 | |||||
iShares MSCI Emerging Markets Multifactor ETF | $10,001-$50,000 |
Name | Fund | Dollar Range of Equity Securities in Named Fund |
Aggregate Dollar Range of Equity Securities in all Registered Investment Companies Overseen by Director in Family of Investment Companies | |||
iShares MSCI Emerging Markets Small-Cap ETF | $10,001-$50,000 | |||||
iShares MSCI Japan ETF | $10,001-$50,000 | |||||
iShares MSCI Singapore ETF | $10,001-$50,000 | |||||
iShares MSCI USA Equal Weighted ETF | $10,001-$50,000 | |||||
iShares MSCI USA Quality Factor ETF | $10,001-$50,000 | |||||
iShares Robotics and Artificial Intelligence Multisector ETF | $10,001-$50,000 | |||||
iShares U.S. Infrastructure ETF | $10,001-$50,000 | |||||
Cecilia H. Herbert | iShares California Muni Bond ETF | $10,001-$50,000 | Over $100,000 | |||
iShares Core Dividend Growth ETF | $50,001-$100,000 | |||||
iShares Core MSCI Emerging Markets ETF | $1-$10,000 | |||||
iShares Core MSCI Total International Stock ETF | $10,001-$50,000 | |||||
iShares Core S&P 500 ETF | Over $100,000 | |||||
iShares Core S&P U.S. Growth ETF | Over $100,000 | |||||
iShares Core S&P U.S. Value ETF | Over $100,000 | |||||
iShares iBoxx $ High Yield Corporate Bond ETF | $10,001-$50,000 | |||||
iShares International Select Dividend ETF | $50,001-$100,000 | |||||
iShares MSCI EAFE ETF | $1-$10,000 | |||||
iShares MSCI Japan ETF | $10,001-$50,000 | |||||
iShares MSCI USA Value Factor ETF | Over $100,000 | |||||
iShares National Muni Bond ETF | $10,001-$50,000 | |||||
iShares Preferred and Income Securities ETF | $10,001-$50,000 | |||||
Drew E. Lawton | BlackRock Short Maturity Bond ETF | Over $100,000 | Over $100,000 | |||
BlackRock Ultra Short-Term Bond ETF | Over $100,000 | |||||
iShares 0-5 Year High Yield Corporate Bond ETF | $50,001-$100,000 | |||||
iShares Biotechnology ETF | $50,001-$100,000 | |||||
iShares Core Dividend Growth ETF | Over $100,000 | |||||
iShares Core MSCI Total International Stock ETF | Over $100,000 | |||||
iShares Core S&P Total U.S. Stock Market ETF | Over $100,000 | |||||
iShares Expanded Tech Sector ETF | Over $100,000 | |||||
iShares Exponential Technologies ETF | Over $100,000 | |||||
John E. Martinez | iShares 1-5 Year Investment Grade Corporate Bond ETF | Over $100,000 | Over $100,000 | |||
iShares Core 5-10 Year USD Bond ETF | Over $100,000 | |||||
iShares Core International Aggregate Bond ETF | Over $100,000 |
Name | Fund | Dollar Range of Equity Securities in Named Fund |
Aggregate Dollar Range of Equity Securities in all Registered Investment Companies Overseen by Director in Family of Investment Companies | |||
iShares Core MSCI International Developed Markets ETF | $10,001-$50,000 | |||||
iShares Global Consumer Staples 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 | |||||
Madhav V. Rajan | BlackRock Short Maturity Bond ETF | Over $100,000 | Over $100,000 | |||
iShares Broad USD High Yield Corporate Bond ETF | Over $100,000 | |||||
iShares Mortgage Real Estate ETF | Over $100,000 | |||||
iShares Preferred and Income Securities ETF | Over $100,000 |
Name | iShares Core MSCI Emerging Markets ETF |
iShares ESG Aware MSCI EM ETF |
iShares MSCI Brazil ETF |
iShares MSCI BIC ETF | ||||
Independent Directors: | ||||||||
Jane D. Carlin | $37,849 | $2,674 | $2,444 | $78 | ||||
Richard L. Fagnani | 40,045 | 2,829 | 2,585 | 82 | ||||
Cecilia H. Herbert | 42,918 | 3,032 | 2,771 | 88 | ||||
John E. Kerrigan | 40,153 | 2,837 | 2,592 | 82 | ||||
Drew E. Lawton | 38,662 | 2,732 | 2,496 | 79 | ||||
John E. Martinez | 37,849 | 2,674 | 2,444 | 78 | ||||
Madhav V. Rajan | 37,849 | 2,674 | 2,444 | 78 | ||||
Interested Directors: | ||||||||
Name | iShares Core MSCI Emerging Markets ETF |
iShares ESG Aware MSCI EM ETF |
iShares MSCI Brazil ETF |
iShares MSCI BIC ETF | ||||
Robert S. Kapito | $0 | $0 | $0 | $0 | ||||
Salim Ramji | 0 | 0 | 0 | 0 |
Name | iShares MSCI Chile ETF |
iShares MSCI Colombia ETF |
iShares MSCI Emerging Markets Asia ETF |
iShares MSCI Emerging Markets ETF | ||||
Independent Directors: | ||||||||
Jane D. Carlin | $205 | $18 | $432 | $13,291 | ||||
Richard L. Fagnani | 216 | 19 | 457 | 14,063 | ||||
Cecilia H. Herbert | 232 | 20 | 489 | 15,072 | ||||
John E. Kerrigan | 217 | 19 | 458 | 14,101 | ||||
Drew E. Lawton | 209 | 18 | 441 | 13,577 | ||||
John E. Martinez | 205 | 18 | 432 | 13,291 | ||||
Madhav V. Rajan | 205 | 18 | 432 | 13,291 | ||||
Interested Directors: | ||||||||
Robert S. Kapito | $0 | $0 | $0 | $0 | ||||
Salim Ramji | 0 | 0 | 0 | 0 |
Name | iShares MSCI Emerging Markets Min Vol Factor ETF |
iShares MSCI Emerging Markets Multifactor ETF |
iShares MSCI Emerging Markets Small-Cap ETF |
iShares MSCI Frontier and Select EM ETF | ||||
Independent Directors: | ||||||||
Jane D. Carlin | $0 | $372 | $204 | $243 | ||||
Richard L. Fagnani | 0 | 393 | 216 | 257 | ||||
Cecilia H. Herbert | 0 | 422 | 231 | 275 | ||||
John E. Kerrigan | 0 | 395 | 216 | 258 | ||||
Drew E. Lawton | 0 | 380 | 208 | 248 | ||||
John E. Martinez | 0 | 372 | 204 | 243 | ||||
Madhav V. Rajan | 0 | 372 | 204 | 243 | ||||
Interested Directors: | ||||||||
Robert S. Kapito | $0 | $0 | $0 | $0 | ||||
Salim Ramji | 0 | 0 | 0 | 0 |
Name | iShares MSCI Global Agriculture Producers ETF |
iShares MSCI Global Energy Producers ETF |
iShares MSCI Global Gold Miners ETF |
iShares MSCI Global Metals & Mining Producers ETF | ||||
Independent Directors: | ||||||||
Jane D. Carlin | $42 | $39 | $273 | $541 | ||||
Richard L. Fagnani | 44 | 41 | 289 | 573 | ||||
Cecilia H. Herbert | 48 | 44 | 310 | 614 | ||||
John E. Kerrigan | 44 | 42 | 290 | 574 | ||||
Drew E. Lawton | 43 | 40 | 279 | 553 | ||||
John E. Martinez | 42 | 39 | 273 | 541 | ||||
Madhav V. Rajan | 42 | 39 | 273 | 541 |
Name | iShares MSCI Global Agriculture Producers ETF |
iShares MSCI Global Energy Producers ETF |
iShares MSCI Global Gold Miners ETF |
iShares MSCI Global Metals & Mining Producers ETF | ||||
Interested Directors: | ||||||||
Robert S. Kapito | $0 | $0 | $0 | $0 | ||||
Salim Ramji | 0 | 0 | 0 | 0 |
Name | iShares MSCI Global Min Vol Factor ETF |
iShares MSCI Global Silver and Metals Miners ETF |
iShares MSCI Malaysia ETF |
iShares MSCI South Korea ETF | ||||
Independent Directors: | ||||||||
Jane D. Carlin | $2,486 | $131 | $128 | $2,923 | ||||
Richard L. Fagnani | 2,630 | 138 | 135 | 3,093 | ||||
Cecilia H. Herbert | 2,819 | 148 | 145 | 3,315 | ||||
John E. Kerrigan | 2,637 | 139 | 135 | 3,101 | ||||
Drew E. Lawton | 2,539 | 134 | 130 | 2,986 | ||||
John E. Martinez | 2,486 | 131 | 128 | 2,923 | ||||
Madhav V. Rajan | 2,486 | 131 | 128 | 2,923 | ||||
Interested Directors: | ||||||||
Robert S. Kapito | $0 | $0 | $0 | $0 | ||||
Salim Ramji | 0 | 0 | 0 | 0 |
Name | iShares MSCI Taiwan ETF | |
Independent Directors: | ||
Jane D. Carlin | $3,483 | |
Richard L. Fagnani | 3,685 | |
Cecilia H. Herbert | 3,949 | |
John E. Kerrigan | 3,695 | |
Drew E. Lawton | 3,558 | |
John E. Martinez | 3,483 | |
Madhav V. Rajan | 3,483 | |
Interested Directors: | ||
Robert S. Kapito | $0 | |
Salim Ramji | 0 |
Name | Pension or Retirement Benefits Accrued As Part of Company Expenses1 |
Estimated Annual Benefits Upon Retirement1 |
Total Compensation From the Funds and Fund Complex2 | |||
Independent Directors: | ||||||
Jane D. Carlin | Not Applicable | Not Applicable | $420,000 | |||
Richard L. Fagnani | Not Applicable | Not Applicable | 446,764 |
Name | Pension or Retirement Benefits Accrued As Part of Company Expenses1 |
Estimated Annual Benefits Upon Retirement1 |
Total Compensation From the Funds and Fund Complex2 | |||
Cecilia H. Herbert | Not Applicable | Not Applicable | 475,000 | |||
John E. Kerrigan | Not Applicable | Not Applicable | 445,000 | |||
Drew E. Lawton | Not Applicable | Not Applicable | 431,764 | |||
John E. Martinez | Not Applicable | Not Applicable | 420,000 | |||
Madhav V. Rajan | Not Applicable | Not Applicable | 420,000 | |||
Interested Directors: | ||||||
Robert S. Kapito | Not Applicable | Not Applicable | $0 | |||
Salim Ramji | Not Applicable | Not Applicable | 0 |
1 | No Director or officer is entitled to any pension or retirement benefits from the Company. |
2 | Also includes compensation for service on the Boards of Trustees for iShares Trust and iShares U.S. ETF Trust. |
Fund | Name | Percentage of Ownership | ||
iShares Core MSCI Emerging Markets ETF | Merrill Lynch, Pierce, Fenner & Smith Incorporated - TS Sub 101 Hudson Street 9th Floor Jersey City, NJ 07302-3997 |
11.31% | ||
National Financial Services LLC 499 Washington Blvd Jersey City, NJ 07310 |
9.68% | |||
Charles Schwab & Co., Inc. 101 Montgomery Street San Francisco, CA 94014 |
6.88% | |||
The Bank of New York Mellon 111 Sanders Creek Parkway 2nd Floor East Syracuse, NY 13057 |
5.54% | |||
iShares ESG Aware MSCI EM ETF | National Financial Services LLC 499 Washington Blvd Jersey City, NJ 07310 |
16.45% |
Fund | Name | Percentage of Ownership | ||
Pershing LLC One Pershing Plaza Jersey City, NJ 07399 |
8.83% | |||
Charles Schwab & Co., Inc. 101 Montgomery Street San Francisco, CA 94014 |
8.65% | |||
Merrill Lynch, Pierce, Fenner & Smith Incorporated - TS Sub 101 Hudson Street 9th Floor Jersey City, NJ 07302-3997 |
7.74% | |||
Citibank, N.A. 3800 CitiBank Center Tampa Building B/1st Floor Zone 8 Tampa, FL 33610-9122 |
5.73% | |||
TD Ameritrade Clearing, Inc. 4700 Alliance Gateway Freeway Fort Worth, TX 76177 |
5.56% | |||
JPMorgan Chase Bank, National Association 1111 Polaris Parkway Columbus, OH 43240 |
5.19% | |||
iShares MSCI Brazil ETF | Brown Brothers Harriman & Co. 525 Washington Blvd. 11th Floor Jersey City, NJ 07310 |
24.44% | ||
JPMorgan Chase Bank, National Association 1111 Polaris Parkway Columbus, OH 43240 |
8.71% | |||
State Street Bank and Trust Company 1776 Heritage Drive North Quincy, MA 02171 |
7.71% | |||
Citibank, N.A. 3800 CitiBank Center Tampa Building B/1st Floor Zone 8 Tampa, FL 33610-9122 |
6.37% | |||
The Bank of New York Mellon 111 Sanders Creek Parkway 2nd Floor East Syracuse, NY 13057 |
5.38% | |||
Merrill Lynch, Pierce, Fenner & Smith Incorporated 101 Hudson Street 9th Floor Jersey City, NJ 07302-3997 |
5.25% | |||
Pershing LLC One Pershing Plaza Jersey City, NJ 07399 |
5.15% | |||
Fund | Name | Percentage of Ownership | ||
iShares MSCI BIC ETF | National Financial Services LLC 499 Washington Blvd Jersey City, NJ 07310 |
11.36% | ||
Citibank, N.A. S.D. Indeval Institucion 3800 CitiBank Center Tampa Building B/1st Floor Zone 8 Tampa, FL 33610-9122 |
7.33% | |||
JPMorgan Chase Bank, National Association 1111 Polaris Parkway Columbus, OH 43240 |
6.68% | |||
Charles Schwab & Co., Inc. 101 Montgomery Street San Francisco, CA 94014 |
6.64% | |||
Citibank, N.A. 3800 CitiBank Center Tampa Building B/1st Floor Zone 8 Tampa, FL 33610-9122 |
6.40% | |||
The Bank of New York Mellon 111 Sanders Creek Parkway 2nd Floor East Syracuse, NY 13057 |
6.25% | |||
J.P. Morgan Securities, LLC/JPMC 383 Madison Avenue New York, NY 10179 |
5.58% | |||
TD Ameritrade Clearing, Inc. 4700 Alliance Gateway Freeway Fort Worth, TX 76177 |
5.22% | |||
iShares MSCI Chile ETF | The Bank of New York Mellon/Mellon Trust of New England, National Association 525 William Penn Place Suite 153-0400 Pittsburgh, PA 15259 |
13.70% | ||
Brown Brothers Harriman & Co. 525 Washington Blvd. 11th Floor Jersey City, NJ 07310 |
12.63% | |||
The Bank of New York Mellon 111 Sanders Creek Parkway 2nd Floor East Syracuse, NY 13057 |
11.91% | |||
Citibank, N.A. 3800 CitiBank Center Tampa Building B/1st Floor Zone 8 Tampa, FL 33610-9122 |
9.53% | |||
Citibank, N.A. S.D. Indeval Institucion 3800 CitiBank Center Tampa Building B/1st Floor Zone 8 Tampa, FL 33610-9122 |
5.41% |
Fund | Name | Percentage of Ownership | ||
Charles Schwab & Co., Inc. 101 Montgomery Street San Francisco, CA 94014 |
5.06% | |||
iShares MSCI Colombia ETF | Brown Brothers Harriman & Co. 525 Washington Blvd. 11th Floor Jersey City, NJ 07310 |
30.35% | ||
Citibank, N.A. S.D. Indeval Institucion 3800 CitiBank Center Tampa Building B/1st Floor Zone 8 Tampa, FL 33610-9122 |
28.41% | |||
State Street Bank and Trust Company 1776 Heritage Drive North Quincy, MA 02171 |
7.97% | |||
iShares MSCI Emerging Markets Asia ETF | Charles Schwab & Co., Inc. 101 Montgomery Street San Francisco, CA 94014 |
11.32% | ||
Pershing LLC One Pershing Plaza Jersey City, NJ 07399 |
9.55% | |||
RBC Capital Markets, LLC 3 World Financial Center 200 Vesey Street New York, NY 10281-8098 |
8.78% | |||
National Financial Services LLC 499 Washington Blvd Jersey City, NJ 07310 |
8.28% | |||
The Bank of New York Mellon 111 Sanders Creek Parkway 2nd Floor East Syracuse, NY 13057 |
5.95% | |||
TD Ameritrade Clearing, Inc. 4700 Alliance Gateway Freeway Fort Worth, TX 76177 |
5.54% | |||
iShares MSCI Emerging Markets ETF | JPMorgan Chase Bank 383 Madison Avenue New York, NY 10179 |
7.97% | ||
National Financial Services LLC 499 Washington Blvd Jersey City, NJ 07310 |
7.50% | |||
The Bank of New York Mellon 111 Sanders Creek Parkway 2nd Floor East Syracuse, NY 13057 |
7.46% | |||
Charles Schwab & Co., Inc. 101 Montgomery Street San Francisco, CA 94014 |
6.72% |
Fund | Name | Percentage of Ownership | ||
Citibank, N.A. 3800 CitiBank Center Tampa Building B/1st Floor Zone 8 Tampa, FL 33610-9122 |
5.83% | |||
JPMorgan Chase Bank, National Association 1111 Polaris Parkway Columbus, OH 43240 |
5.15% | |||
iShares MSCI Emerging Markets Min Vol Factor ETF | CDS Clearing and Depository Services Inc. 600 De Maisonneuve Blvd W Suite 210 Montreal, QC H3A 3J2 |
22.34% | ||
Charles Schwab & Co., Inc. 101 Montgomery Street San Francisco, CA 94014 |
11.43% | |||
National Financial Services LLC 499 Washington Blvd Jersey City, NJ 07310 |
10.15% | |||
Morgan Stanley Smith Barney LLC One New York Plaza New York, NY 10004 |
5.59% | |||
Merrill Lynch, Pierce, Fenner & Smith Incorporated - TS Sub 101 Hudson Street 9th Floor Jersey City, NJ 07302-3997 |
5.26% | |||
iShares MSCI Emerging Markets Multifactor ETF | Charles Schwab & Co., Inc. 101 Montgomery Street San Francisco, CA 94014 |
29.46% | ||
TD Ameritrade Clearing, Inc. 4700 Alliance Gateway Freeway Fort Worth, TX 76177 |
28.22% | |||
National Financial Services LLC 499 Washington Blvd Jersey City, NJ 07310 |
12.71% | |||
Wells Fargo Bank, National Association 733 Marquette Ave 4th Floor Minneapolis, MN 55402 |
6.97% | |||
Merrill Lynch, Pierce, Fenner & Smith Incorporated - TS Sub 101 Hudson Street 9th Floor Jersey City, NJ 07302-3997 |
6.78% | |||
iShares MSCI Emerging Markets Small-Cap ETF | National Financial Services LLC 499 Washington Blvd Jersey City, NJ 07310 |
24.63% |
Fund | Name | Percentage of Ownership | ||
Citibank, N.A. 3800 CitiBank Center Tampa Building B/1st Floor Zone 8 Tampa, FL 33610-9122 |
19.31% | |||
Charles Schwab & Co., Inc. 101 Montgomery Street San Francisco, CA 94014 |
18.00% | |||
Merrill Lynch, Pierce, Fenner & Smith Incorporated - TS Sub 101 Hudson Street 9th Floor Jersey City, NJ 07302-3997 |
5.19% | |||
iShares MSCI Frontier and Select EM ETF | Charles Schwab & Co., Inc. 101 Montgomery Street San Francisco, CA 94014 |
16.41% | ||
National Financial Services LLC 499 Washington Blvd Jersey City, NJ 07310 |
14.94% | |||
Northern Trust Company (The) 801 South Canal Street Chicago, IL 60607 |
10.40% | |||
TD Ameritrade Clearing, Inc. 4700 Alliance Gateway Freeway Fort Worth, TX 76177 |
9.76% | |||
Wells Fargo Clearing Services LLC 2801 Market Street St Louis, MO 63103 |
5.67% | |||
iShares MSCI Global Agriculture Producers ETF | National Financial Services LLC 499 Washington Blvd Jersey City, NJ 07310 |
20.43% | ||
Merrill Lynch, Pierce, Fenner & Smith Incorporated - TS Sub 101 Hudson Street 9th Floor Jersey City, NJ 07302-3997 |
10.88% | |||
Charles Schwab & Co., Inc. 101 Montgomery Street San Francisco, CA 94014 |
10.54% | |||
Citibank, N.A. 3800 CitiBank Center Tampa Building B/1st Floor Zone 8 Tampa, FL 33610-9122 |
6.08% | |||
Raymond, James & Associates, Inc. 880 Carillon Parkway P.O. Box 12749 St. Petersburg, FL 33733 |
5.60% | |||
National Bank Financial Inc. 1155 Metcalfe Street Montreal, QC H3B 4S9 Canada |
5.36% |
Fund | Name | Percentage of Ownership | ||
iShares MSCI Global Energy Producers ETF | National Financial Services LLC 499 Washington Blvd Jersey City, NJ 07310 |
16.04% | ||
Charles Schwab & Co., Inc. 101 Montgomery Street San Francisco, CA 94014 |
14.26% | |||
TD Ameritrade Clearing, Inc. 4700 Alliance Gateway Freeway Fort Worth, TX 76177 |
11.46% | |||
Pershing LLC One Pershing Plaza Jersey City, NJ 07399 |
10.20% | |||
LPL Financial Corporation 9785 Towne Centre Drive San Diego, CA 92121-1968 |
7.02% | |||
iShares MSCI Global Gold Miners ETF | National Financial Services LLC 499 Washington Blvd Jersey City, NJ 07310 |
16.65% | ||
The Bank of New York Mellon 111 Sanders Creek Parkway 2nd Floor East Syracuse, NY 13057 |
16.36% | |||
Charles Schwab & Co., Inc. 101 Montgomery Street San Francisco, CA 94014 |
7.47% | |||
HSBC Bank USA, NA/Clearing 452 Fifth Avenue New York, NY 10018 |
6.47% | |||
Pershing LLC One Pershing Plaza Jersey City, NJ 07399 |
5.69% | |||
Merrill Lynch, Pierce, Fenner & Smith Incorporated - TS Sub 101 Hudson Street 9th Floor Jersey City, NJ 07302-3997 |
5.35% | |||
iShares MSCI Global Metals & Mining Producers ETF | Citibank, N.A. 3800 CitiBank Center Tampa Building B/1st Floor Zone 8 Tampa, FL 33610-9122 |
12.69% | ||
National Financial Services LLC 499 Washington Blvd Jersey City, NJ 07310 |
11.68% | |||
The Bank of New York Mellon 111 Sanders Creek Parkway 2nd Floor East Syracuse, NY 13057 |
10.61% |
Fund | Name | Percentage of Ownership | ||
Charles Schwab & Co., Inc. 101 Montgomery Street San Francisco, CA 94014 |
8.33% | |||
TD Ameritrade Clearing, Inc. 4700 Alliance Gateway Freeway Fort Worth, TX 76177 |
7.25% | |||
Brown Brothers Harriman & Co. 525 Washington Blvd. 11th Floor Jersey City, NJ 07310 |
6.37% | |||
Morgan Stanley Smith Barney LLC One New York Plaza New York, NY 10004 |
5.88% | |||
iShares MSCI Global Min Vol Factor ETF | Charles Schwab & Co., Inc. 101 Montgomery Street San Francisco, CA 94014 |
16.54% | ||
JPMorgan Chase Bank, National Association 1111 Polaris Parkway Columbus, OH 43240 |
11.19% | |||
CDS Clearing and Depository Services Inc. 600 De Maisonneuve Blvd W Suite 210 Montreal, QC H3A 3J2 |
11.00% | |||
State Street Bank and Trust Company 1776 Heritage Drive North Quincy, MA 02171 |
8.68% | |||
National Financial Services LLC 499 Washington Blvd Jersey City, NJ 07310 |
7.31% | |||
iShares MSCI Global Silver and Metals Miners ETF | National Financial Services LLC 499 Washington Blvd Jersey City, NJ 07310 |
22.62% | ||
Charles Schwab & Co., Inc. 101 Montgomery Street San Francisco, CA 94014 |
11.40% | |||
Citibank, N.A. 3800 CitiBank Center Tampa Building B/1st Floor Zone 8 Tampa, FL 33610-9122 |
10.63% | |||
TD Ameritrade Clearing, Inc. 4700 Alliance Gateway Freeway Fort Worth, TX 76177 |
9.50% | |||
Brown Brothers Harriman & Co. 525 Washington Blvd. 11th Floor Jersey City, NJ 07310 |
5.48% | |||
VANGUARD Marketing Corporation 100 Vanguard Boulevard Malvern, PA 19355 |
5.35% |
Fund | Name | Percentage of Ownership | ||
iShares MSCI Malaysia ETF | State Street Bank and Trust Company 1776 Heritage Drive North Quincy, MA 02171 |
22.40% | ||
Citibank, N.A. 3800 CitiBank Center Tampa Building B/1st Floor Zone 8 Tampa, FL 33610-9122 |
13.23% | |||
Charles Schwab & Co., Inc. 101 Montgomery Street San Francisco, CA 94014 |
8.50% | |||
The Bank of New York Mellon 111 Sanders Creek Parkway 2nd Floor East Syracuse, NY 13057 |
6.06% | |||
iShares MSCI South Korea ETF | State Street Bank and Trust Company 1776 Heritage Drive North Quincy, MA 02171 |
19.50% | ||
Brown Brothers Harriman & Co. 525 Washington Blvd. 11th Floor Jersey City, NJ 07310 |
14.18% | |||
JPMorgan Chase Bank, National Association 1111 Polaris Parkway Columbus, OH 43240 |
9.57% | |||
The Bank of New York Mellon 111 Sanders Creek Parkway 2nd Floor East Syracuse, NY 13057 |
8.91% | |||
Citibank, N.A. 3800 CitiBank Center Tampa Building B/1st Floor Zone 8 Tampa, FL 33610-9122 |
7.21% | |||
iShares MSCI Taiwan ETF | State Street Bank and Trust Company 1776 Heritage Drive North Quincy, MA 02171 |
24.83% | ||
Northern Trust Company/ United Nations Joint Staff Pension Fund 50 South LaSalle Street Chicago, IL 60675 |
13.12% | |||
JPMorgan Chase Bank, National Association 1111 Polaris Parkway Columbus, OH 43240 |
12.05% | |||
Brown Brothers Harriman & Co. 525 Washington Blvd. 11th Floor Jersey City, NJ 07310 |
9.58% |
Fund | Name | Percentage of Ownership | ||
The Bank of New York Mellon 111 Sanders Creek Parkway 2nd Floor East Syracuse, NY 13057 |
6.51% | |||
Citibank, N.A. 3800 CitiBank Center Tampa Building B/1st Floor Zone 8 Tampa, FL 33610-9122 |
6.46% |
Fund | Management Fee for the Fiscal Year Ended August 31, 2021 |
Fund Inception Date |
Management Fees Paid Net of Waivers for Fiscal Year Ended August 31, 2021 |
Management Fees Paid Net of Waivers for Fiscal Year Ended August 31, 2020 |
Management Fees Paid Net of Waivers for Fiscal Year Ended August 31, 2019 | |||||
iShares Core MSCI Emerging Markets ETF1,2 | 0.11% | 10/18/12 | $ 82,545,766 | $70,476,122 | $ 73,215,381 | |||||
iShares ESG Aware MSCI EM ETF | 0.25% | 06/28/16 | 16,050,999 | 4,984,228 | 1,257,438 | |||||
iShares MSCI Brazil ETF | 0.57% | 07/10/00 | 33,789,061 | 43,908,323 | 47,075,670 | |||||
iShares MSCI BIC ETF | 0.69% | 11/12/07 | 1,281,064 | 1,178,749 | 1,383,111 | |||||
iShares MSCI Chile ETF | 0.57% | 11/12/07 | 2,681,512 | 2,423,582 | 2,396,388 | |||||
iShares MSCI Colombia ETF | 0.61% | 06/18/13 | 160,606 | 127,091 | 123,179 | |||||
iShares MSCI Emerging Markets Asia ETF | 0.49% | 02/08/12 | 4,001,164 | 2,314,189 | 2,273,850 | |||||
iShares MSCI Emerging Markets ETF | 0.68% | 04/07/03 | 198,629,100 | 172,140,562 | 212,553,877 | |||||
iShares MSCI Emerging Markets Min Vol Factor ETF3 | 0.69% | 10/18/11 | 9,943,172 | 11,778,604 | 12,863,133 | |||||
iShares MSCI Emerging Markets Multifactor ETF4 | 0.45% | 12/08/15 | 3,067,019 | 2,070,774 | 1,414,407 | |||||
iShares MSCI Emerging Markets Small-Cap ETF | 0.68% | 08/16/11 | 2,042,613 | 1,358,678 | 1,733,722 | |||||
iShares MSCI Frontier and Select EM ETF | 0.79% | 09/12/12 | 3,409,730 | 3,404,850 | 3,955,894 | |||||
iShares MSCI Global Agriculture Producers ETF5 | 0.39% | 01/31/12 | 225,951 | 93,125 | 116,980 | |||||
iShares MSCI Global Energy Producers ETF | 0.39% | 01/31/12 | 246,391 | 171,388 | 186,787 | |||||
iShares MSCI Global Gold Miners ETF | 0.39% | 01/31/12 | 1,985,781 | 1,457,942 | 826,403 | |||||
iShares MSCI Global Metals & Mining Producers ETF6 | 0.39% | 01/31/12 | 3,232,237 | 802,532 | 1,120,023 |
Fund | Management Fee for the Fiscal Year Ended August 31, 2021 |
Fund Inception Date |
Management Fees Paid Net of Waivers for Fiscal Year Ended August 31, 2021 |
Management Fees Paid Net of Waivers for Fiscal Year Ended August 31, 2020 |
Management Fees Paid Net of Waivers for Fiscal Year Ended August 31, 2019 | |||||
iShares MSCI Global Min Vol Factor ETF7 | 0.32% | 10/18/11 | 10,992,821 | 11,099,442 | 8,040,816 | |||||
iShares MSCI Global Silver and Metals Miners ETF | 0.39% | 01/31/12 | 1,064,033 | 460,309 | 228,064 | |||||
iShares MSCI Malaysia ETF | 0.50% | 03/12/96 | 1,619,334 | 1,937,654 | 2,524,782 | |||||
iShares MSCI South Korea ETF | 0.57% | 05/09/00 | 37,571,205 | 25,182,549 | 25,262,393 | |||||
iShares MSCI Taiwan ETF | 0.57% | 06/20/00 | 34,918,823 | 20,347,753 | 19,459,461 |
1 | Effective March 31, 2022, for the iShares Core MSCI Emerging Markets ETF, BFA has contractually agreed to waive a portion of its management fee such that the Fund’s total annual fund operating expenses after fee waiver will not exceed 0.09% through December 31, 2025. The contractual waiver may be terminated prior to December 31, 2025 only upon written agreement of the Company and BFA. Through March 31, 2022 and effective December 17, 2020, BFA contractually agreed to waive a portion of its management fee such that the Fund’s total annual fund operating expenses after fee waiver would not exceed 0.11% effective December 17, 2020 through March 30, 2022. Through December 17, 2020 and effective March 27, 2020, BFA contractually agreed to waive a portion of its management fee such that the Fund’s total annual fund operating expenses after fee waiver would not exceed 0.13% effective March 27, 2020 through December 16, 2020. Prior to March 27, 2020, BFA contractually agreed to waive a portion of its management fee such that the Fund’s total annual fund operating expenses after fee waiver would not exceed 0.14%. For the fiscal years ended August 31, 2019, August 31, 2020 and August 31, 2021, BFA waived $2,450,441, $2,717,834 and $234,869, respectively, of its management fees. |
2 | Effective March 31, 2022, the management fee for the iShares Core MSCI Emerging Markets ETF is 0.09%. From December 17, 2020 to March 30, 2022, the management fee for the iShares Core MSCI Emerging Markets ETF was 0.11%. From March 27, 2020 to December 16, 2020, the management fee for the iShares Core MSCI Emerging Markets ETF was 0.13%. Prior to March 27, 2020, the management fee for the iShares Core MSCI Emerging Markets ETF was 0.14%. |
3 | For the iShares MSCI Emerging Markets Min Vol Factor ETF, BFA has contractually agreed to waive a portion of its management fee such that the Fund’s total annual fund operating expenses after fee waiver will not exceed 0.25% through December 31, 2023. The contractual waiver may be terminated prior to December 31, 2023 only upon written agreement of the Company and BFA. For the fiscal years ended August 31, 2019, August 31, 2020 and August 31, 2021, BFA waived, $22,779,813, $21,891,681 and $ $17,810,251, respectively, of its management fees. |
4 | For the iShares MSCI Emerging Markets Multifactor ETF, BFA has contractually agreed to waive a portion of its management fees in an amount equal to the Acquired Fund Fees and Expenses, if any, attributable to investments by the Fund in other series of iShares Trust and the Company through December 31, 2026. The contractual waiver may be terminated prior to December 31, 2026 only upon written agreement of the Company and BFA. For the fiscal years ended August 31, 2019, August 31, 2020 and August 31, 2021, BFA waived $4,877, $0 and $0, respectively, of its management fees. |
5 | For the iShares MSCI Global Agriculture Producers ETF, BFA has contractually agreed to waive a portion of its management fees in an amount equal to the Acquired Fund Fees and Expenses, if any, attributable to investments by the Fund in other series of iShares Trust and iShares, Inc. through December 31, 2023. The contractual waiver may be terminated prior to December 31, 2023 only upon written agreement of the Company and BFA. For the fiscal years ended August 31, 2019, August 31, 2020 and August 31, 2021, BFA waived $0, $0 and $0, respectively, of its management fees. |
6 | For the iShares MSCI Global Metals & Mining Producers ETF, BFA has contractually agreed to waive a portion of its management fees in an amount equal to the Acquired Fund Fees and Expenses, if any, attributable to investments by the Fund in other series of iShares Trust and iShares, Inc. through December 31, 2023. The contractual waiver may be terminated prior to December 31, 2023 only upon written agreement of the Company and BFA. For the fiscal years ended August 31, 2019, August 31, 2020 and August 31, 2021, BFA waived $0, $0 and $0, respectively, of its management fees. |
7 | For the iShares MSCI Global Min Vol Factor ETF, BFA has contractually agreed to waive a portion of its management fee such that the Fund’s total annual fund operating expenses after fee waiver will not exceed 0.20% through December 31, 2023. The contractual waiver may be terminated prior to December 31, 2023 only upon written agreement of the Company and BFA. For the fiscal years ended August 31, 2019, August 31, 2020 and August 31, 2021, BFA waived $4,690,125, $6,584,070 and $6,508,787, respectively, of its management fees. |
Jennifer Hsui | ||||
Types of Accounts | Number | Total Assets | ||
Registered Investment Companies | 288 | $1,847,592,000,000 | ||
Other Pooled Investment Vehicles | 60 | 93,509,000,000 | ||
Other Accounts | 59 | 72,265,000,000 |
Greg Savage | ||||
Types of Accounts | Number | Total Assets | ||
Registered Investment Companies | 237 | $1,731,603,000,000 | ||
Other Pooled Investment Vehicles | 38 | 57,358,000,000 | ||
Other Accounts | 65 | 24,457,000,000 |
Paul Whitehead (as of November 30, 2021) | ||||
Types of Accounts | Number | Total Assets | ||
Registered Investment Companies | 0 | N/A | ||
Other Pooled Investment Vehicles | 0 | N/A | ||
Other Accounts | 0 | N/A |
Amy Whitelaw | ||||
Types of Accounts | Number | Total Assets | ||
Registered Investment Companies | 301 | $1,850,669,000,000 | ||
Other Pooled Investment Vehicles | 192 | 682,388,000,000 | ||
Other Accounts | 111 | 593,236,000,000 |
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 |
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 | 4 | $11,438,000,000 |
Paul Whitehead (as of November 30, 2021) | ||||
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 |
Amy Whitelaw | ||||
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 | 1 | $2,451,000,000 |
Jennifer Hsui | |||||||||||||||
Dollar Range | |||||||||||||||
Fund | None | $1 to $10k | $10,001 to $50k |
$50,001 to $100k |
$100,001 to $500k |
$500,001 to $1m |
over $1m | ||||||||
iShares Core MSCI Emerging Markets ETF | X | ||||||||||||||
iShares ESG Aware MSCI EM ETF | X | ||||||||||||||
iShares MSCI Brazil ETF | X | ||||||||||||||
iShares MSCI BIC ETF | X | ||||||||||||||
iShares MSCI Chile ETF | X | ||||||||||||||
iShares MSCI Colombia ETF | X | ||||||||||||||
iShares MSCI Emerging Markets Asia ETF | X | ||||||||||||||
iShares MSCI Emerging Markets ETF | X | ||||||||||||||
iShares MSCI Emerging Markets Min Vol Factor ETF | X | ||||||||||||||
iShares MSCI Emerging Markets Multifactor ETF | X | ||||||||||||||
iShares MSCI Emerging Markets Small-Cap ETF | X | ||||||||||||||
iShares MSCI Frontier and Select EM ETF | X | ||||||||||||||
iShares MSCI Global Agriculture Producers ETF | X | ||||||||||||||
iShares MSCI Global Energy Producers ETF | X | ||||||||||||||
iShares MSCI Global Gold Miners ETF | X | ||||||||||||||
iShares MSCI Global Metals & Mining Producers ETF | X | ||||||||||||||
iShares MSCI Global Min Vol Factor ETF | X | ||||||||||||||
iShares MSCI Global Silver and Metals Miners ETF | X | ||||||||||||||
iShares MSCI Malaysia ETF | X | ||||||||||||||
iShares MSCI South Korea ETF | X | ||||||||||||||
iShares MSCI Taiwan ETF | X |
Greg Savage | |||||||||||||||
Dollar Range | |||||||||||||||
Fund | None | $1 to $10k | $10,001 to $50k |
$50,001 to $100k |
$100,001 to $500k |
$500,001 to $1m |
over $1m | ||||||||
iShares Core MSCI Emerging Markets ETF | X | ||||||||||||||
iShares ESG Aware MSCI EM ETF | X | ||||||||||||||
iShares MSCI Brazil ETF | X | ||||||||||||||
iShares MSCI BIC ETF | X |
Greg Savage | |||||||||||||||
Dollar Range | |||||||||||||||
Fund | None | $1 to $10k | $10,001 to $50k |
$50,001 to $100k |
$100,001 to $500k |
$500,001 to $1m |
over $1m | ||||||||
iShares MSCI Chile ETF | X | ||||||||||||||
iShares MSCI Colombia ETF | X | ||||||||||||||
iShares MSCI Emerging Markets Asia ETF | X | ||||||||||||||
iShares MSCI Emerging Markets ETF | X | ||||||||||||||
iShares MSCI Emerging Markets Min Vol Factor ETF | X | ||||||||||||||
iShares MSCI Emerging Markets Multifactor ETF | X | ||||||||||||||
iShares MSCI Emerging Markets Small-Cap ETF | X | ||||||||||||||
iShares MSCI Frontier and Select EM ETF | X | ||||||||||||||
iShares MSCI Global Agriculture Producers ETF | X | ||||||||||||||
iShares MSCI Global Energy Producers ETF | X | ||||||||||||||
iShares MSCI Global Gold Miners ETF | X | ||||||||||||||
iShares MSCI Global Metals & Mining Producers ETF | X | ||||||||||||||
iShares MSCI Global Min Vol Factor ETF | X | ||||||||||||||
iShares MSCI Global Silver and Metals Miners ETF | X | ||||||||||||||
iShares MSCI Malaysia ETF | X | ||||||||||||||
iShares MSCI South Korea ETF | X | ||||||||||||||
iShares MSCI Taiwan ETF | X |
Paul Whitehead (as of November 30, 2021) | |||||||||||||||
Dollar Range | |||||||||||||||
Fund | None | $1 to $10k | $10,001 to $50k |
$50,001 to $100k |
$100,001 to $500k |
$500,001 to $1m |
over $1m | ||||||||
iShares Core MSCI Emerging Markets ETF | X | ||||||||||||||
iShares ESG Aware MSCI EM ETF | X | ||||||||||||||
iShares MSCI Brazil ETF | X | ||||||||||||||
iShares MSCI BIC ETF | X | ||||||||||||||
iShares MSCI Chile ETF | X | ||||||||||||||
iShares MSCI Colombia ETF | X | ||||||||||||||
iShares MSCI Emerging Markets Asia ETF | X | ||||||||||||||
iShares MSCI Emerging Markets ETF | X | ||||||||||||||
iShares MSCI Emerging Markets Min Vol Factor ETF | X | ||||||||||||||
iShares MSCI Emerging Markets Multifactor ETF | X | ||||||||||||||
iShares MSCI Emerging Markets Small-Cap ETF | X | ||||||||||||||
iShares MSCI Frontier and Select EM ETF | X | ||||||||||||||
iShares MSCI Global Agriculture Producers ETF | X | ||||||||||||||
iShares MSCI Global Energy Producers ETF | X | ||||||||||||||
iShares MSCI Global Gold Miners ETF | X | ||||||||||||||
iShares MSCI Global Metals & Mining Producers ETF | X | ||||||||||||||
iShares MSCI Global Min Vol Factor ETF | X | ||||||||||||||
iShares MSCI Global Silver and Metals Miners ETF | X | ||||||||||||||
iShares MSCI Malaysia ETF | X |
Paul Whitehead (as of November 30, 2021) | |||||||||||||||
Dollar Range | |||||||||||||||
Fund | None | $1 to $10k | $10,001 to $50k |
$50,001 to $100k |
$100,001 to $500k |
$500,001 to $1m |
over $1m | ||||||||
iShares MSCI South Korea ETF | X | ||||||||||||||
iShares MSCI Taiwan ETF | X |
Amy Whitelaw | |||||||||||||||
Dollar Range | |||||||||||||||
Fund | None | $1 to $10k | $10,001 to $50k |
$50,001 to $100k |
$100,001 to $500k |
$500,001 to $1m |
over $1m | ||||||||
iShares Core MSCI Emerging Markets ETF | X | ||||||||||||||
iShares ESG Aware MSCI EM ETF | X | ||||||||||||||
iShares MSCI Brazil ETF | X | ||||||||||||||
iShares MSCI BIC ETF | X | ||||||||||||||
iShares MSCI Chile ETF | X | ||||||||||||||
iShares MSCI Colombia ETF | X | ||||||||||||||
iShares MSCI Emerging Markets Asia ETF | X | ||||||||||||||
iShares MSCI Emerging Markets ETF | X | ||||||||||||||
iShares MSCI Emerging Markets Min Vol Factor ETF | X | ||||||||||||||
iShares MSCI Emerging Markets Multifactor ETF | X | ||||||||||||||
iShares MSCI Emerging Markets Small-Cap ETF | X | ||||||||||||||
iShares MSCI Frontier and Select EM ETF | X | ||||||||||||||
iShares MSCI Global Agriculture Producers ETF | X | ||||||||||||||
iShares MSCI Global Energy Producers ETF | X | ||||||||||||||
iShares MSCI Global Gold Miners ETF | X | ||||||||||||||
iShares MSCI Global Metals & Mining Producers ETF | X | ||||||||||||||
iShares MSCI Global Min Vol Factor ETF | X | ||||||||||||||
iShares MSCI Global Silver and Metals Miners ETF | X | ||||||||||||||
iShares MSCI Malaysia ETF | X | ||||||||||||||
iShares MSCI South Korea ETF | X | ||||||||||||||
iShares MSCI Taiwan ETF | X |
Fund | Fund Inception Date |
Administration, Custodian, Transfer Agency Expenses Paid During Fiscal Year Ended August 31, 2021 |
Administration, Custodian, Transfer Agency Expenses Paid During Fiscal Year Ended August 31, 2020 |
Administration, Custodian, Transfer Agency Expenses Paid During Fiscal Year Ended August 31, 2019 | ||||
iShares Core MSCI Emerging Markets ETF | 10/18/12 | $28,905,865 | $21,065,712 | $18,017,288 | ||||
iShares ESG Aware MSCI EM ETF | 06/28/16 | 2,781,551 | 907,519 | 267,625 | ||||
iShares MSCI Brazil ETF | 07/10/00 | 1,047,533 | 1,318,270 | 1,434,246 | ||||
iShares MSCI BIC ETF | 11/12/07 | 137,062 | 80,529 | 88,597 | ||||
iShares MSCI Chile ETF | 11/12/07 | 974,157 | 851,810 | 846,899 | ||||
iShares MSCI Colombia ETF | 06/18/13 | 121,983 | 113,077 | 111,683 | ||||
iShares MSCI Emerging Markets Asia ETF | 02/08/12 | 240,516 | 105,071 | 99,670 | ||||
iShares MSCI Emerging Markets ETF | 04/07/03 | 11,473,731 | 9,535,463 | 10,106,064 | ||||
iShares MSCI Emerging Markets Min Vol Factor ETF | 10/18/11 | 3,124,974 | 3,021,472 | 2,737,944 | ||||
iShares MSCI Emerging Markets Multifactor ETF | 12/08/2015 | 408,457 | 285,132 | 190,934 | ||||
iShares MSCI Emerging Markets Small-Cap ETF | 08/16/11 | 292,160 | 198,620 | 199,552 | ||||
iShares MSCI Frontier and Select EM ETF | 09/12/12 | 1,644,072 | 1,916,655 | 1,880,040 | ||||
iShares MSCI Global Agriculture Producers ETF | 01/31/12 | 45,096 | 35,507 | 36,161 | ||||
iShares MSCI Global Energy Producers ETF | 01/31/12 | 47,901 | 47,422 | 35,064 | ||||
iShares MSCI Global Gold Miners ETF | 01/31/12 | 50,147 | 43,741 | 33,951 | ||||
iShares MSCI Global Metals & Mining Producers ETF | 01/31/12 | 186,044 | 82,999 | 86,283 | ||||
iShares MSCI Global Min Vol Factor ETF | 10/18/11 | 893,842 | 718,851 | 432,296 | ||||
iShares MSCI Global Silver and Metals Miners ETF | 01/31/12 | 36,216 | 31,260 | 25,847 | ||||
iShares MSCI Malaysia ETF | 03/12/96 | 134,960 | 159,848 | 176,027 | ||||
iShares MSCI South Korea ETF | 05/09/00 | 1,387,419 | 924,923 | 921,395 | ||||
iShares MSCI Taiwan ETF | 06/20/00 | 1,816,514 | 1,180,453 | 1,100,662 |
Fund | iShares Core MSCI Emerging Markets ETF |
iShares ESG Aware MSCI EM ETF |
iShares MSCI Brazil ETF |
iShares MSCI BIC ETF |
Gross income from securities lending activities |
$77,994,596 | $2,468,450 | N/A | $31,902 |
Fees and/or compensation for securities lending activities and related services |
||||
Securities lending income paid to BTC for services as securities lending agent |
13,604,725 | 440,422 | N/A | 5,461 |
Cash collateral management expenses not included in securities lending income paid to BTC |
1,072,457 | 20,243 | N/A | 1,508 |
Fund | iShares Core MSCI Emerging Markets ETF |
iShares ESG Aware MSCI EM ETF |
iShares MSCI Brazil ETF |
iShares MSCI BIC ETF |
Administrative fees not included in securities lending income paid to BTC |
0 | 0 | 0 | 0 |
Indemnification fees not included in securities lending income paid to BTC |
0 | 0 | 0 | 0 |
Rebates (paid to borrowers) |
4,240,876 | 1,468 | N/A | 56 |
Other fees not included in securities lending income paid to BTC |
0 | 0 | 0 | 0 |
Aggregate fees/compensation for securities lending activities |
$ 18,918,058 | $ 462,133 | N/A | $ 7,025 |
Net income from securities lending activities |
$ 59,076,538 | $2,006,317 | N/A | $24,877 |
Fund | iShares MSCI Chile ETF |
iShares MSCI Colombia ETF |
iShares MSCI Emerging Markets Asia ETF |
iShares MSCI Emerging Markets ETF |
Gross income from securities lending activities |
N/A | $ 51 | $175,598 | $17,059,112 |
Fees and/or compensation for securities lending activities and related services |
||||
Securities lending income paid to BTC for services as securities lending agent |
N/A | 8 | 30,915 | 3,014,391 |
Cash collateral management expenses not included in securities lending income paid to BTC |
N/A | 5 | 3,651 | 293,787 |
Administrative fees not included in securities lending income paid to BTC |
0 | 0 | 0 | 0 |
Indemnification fees not included in securities lending income paid to BTC |
0 | 0 | 0 | 0 |
Rebates (paid to borrowers) |
N/A | 0 | 187 | 638,236 |
Fund | iShares MSCI Chile ETF |
iShares MSCI Colombia ETF |
iShares MSCI Emerging Markets Asia ETF |
iShares MSCI Emerging Markets ETF |
Other fees not included in securities lending income paid to BTC |
0 | 0 | 0 | 0 |
Aggregate fees/compensation for securities lending activities |
N/A | $ 13 | $ 34,753 | $ 3,946,414 |
Net income from securities lending activities |
N/A | $ 38 | $140,845 | $ 13,112,698 |
Fund | iShares MSCI Emerging Markets Min Vol Factor ETF |
iShares MSCI Emerging Markets Multifactor ETF |
iShares MSCI Emerging Markets Small-Cap ETF |
iShares MSCI Frontier and Select EM ETF |
Gross income from securities lending activities |
$1,273,654 | $ 133,840 | $673,546 | $ 1,137 |
Fees and/or compensation for securities lending activities and related services |
||||
Securities lending income paid to BTC for services as securities lending agent |
225,173 | 23,419 | 120,271 | 157 |
Cash collateral management expenses not included in securities lending income paid to BTC |
21,517 | 3,433 | 5,109 | 180 |
Administrative fees not included in securities lending income paid to BTC |
0 | 0 | 0 | 0 |
Indemnification fees not included in securities lending income paid to BTC |
0 | 0 | 0 | 0 |
Fund | iShares MSCI Emerging Markets Min Vol Factor ETF |
iShares MSCI Emerging Markets Multifactor ETF |
iShares MSCI Emerging Markets Small-Cap ETF |
iShares MSCI Frontier and Select EM ETF |
Rebates (paid to borrowers) |
1,094 | 268 | 196 | 0 |
Other fees not included in securities lending income paid to BTC |
0 | 0 | 0 | 0 |
Aggregate fees/compensation for securities lending activities |
$ 247,784 | $ 27,120 | $125,576 | $ 337 |
Net income from securities lending activities |
$1,025,870 | $ 106,720 | $547,970 | $ 800 |
Fund | iShares MSCI Global Agriculture Producers ETF |
iShares MSCI Global Energy Producers ETF |
iShares MSCI Global Gold Miners ETF |
iShares MSCI Global Metals & Mining Producers ETF |
Gross income from securities lending activities |
$ 9,111 | $ 7,200 | $95,854 | $90,978 |
Fees and/or compensation for securities lending activities and related services |
||||
Securities lending income paid to BTC for services as securities lending agent |
1,583 | 1,272 | 16,831 | 16,089 |
Cash collateral management expenses not included in securities lending income paid to BTC |
192 | 119 | 2,172 | 1,562 |
Administrative fees not included in securities lending income paid to BTC |
0 | 0 | 0 | 0 |
Indemnification fees not included in securities lending income paid to BTC |
0 | 0 | 0 | 0 |
Rebates (paid to borrowers) |
104 | 15 | 193 | 44 |
Fund | iShares MSCI Global Agriculture Producers ETF |
iShares MSCI Global Energy Producers ETF |
iShares MSCI Global Gold Miners ETF |
iShares MSCI Global Metals & Mining Producers ETF |
Other fees not included in securities lending income paid to BTC |
0 | 0 | 0 | 0 |
Aggregate fees/compensation for securities lending activities |
$ 1,879 | $ 1,406 | $19,196 | $17,695 |
Net income from securities lending activities |
$ 7,232 | $ 5,794 | $76,658 | $73,283 |
Fund | iShares MSCI Global Min Vol Factor ETF |
iShares MSCI Global Silver and Metals Miners ETF |
iShares MSCI Malaysia ETF |
iShares MSCI South Korea ETF |
Gross income from securities lending activities |
$ 232,454 | $520,409 | $1,627,562 | $5,708,201 |
Fees and/or compensation for securities lending activities and related services |
||||
Securities lending income paid to BTC for services as securities lending agent |
37,425 | 92,036 | 291,982 | 1,009,881 |
Cash collateral management expenses not included in securities lending income paid to BTC |
19,602 | 9,026 | 5,079 | 95,770 |
Administrative fees not included in securities lending income paid to BTC |
0 | 0 | 0 | 0 |
Indemnification fees not included in securities lending income paid to BTC |
0 | 0 | 0 | 0 |
Rebates (paid to borrowers) |
2,979 | 57 | 352 | 852 |
Other fees not included in securities lending income paid to BTC |
0 | 0 | 0 | 0 |
Aggregate fees/compensation for securities lending activities |
$ 60,006 | $101,119 | $ 297,413 | $1,106,503 |
Net income from securities lending activities |
$ 172,448 | $419,290 | $1,330,149 | $4,601,698 |
Fund | iShares MSCI Taiwan ETF |
Gross income from securities lending activities |
$8,583,391 |
Fees and/or compensation for securities lending activities and related services |
|
Securities lending income paid to BTC for services as securities lending agent |
1,515,516 |
Cash collateral management expenses not included in securities lending income paid to BTC |
156,466 |
Administrative fees not included in securities lending income paid to BTC |
0 |
Indemnification fees not included in securities lending income paid to BTC |
0 |
Rebates (paid to borrowers) |
1,389,636 |
Other fees not included in securities lending income paid to BTC |
0 |
Aggregate fees/compensation for securities lending activities |
$ 3,061,618 |
Net income from securities lending activities |
$ 5,521,773 |
Fund | Fund Inception Date |
Brokerage Commissions Paid During Fiscal Year Ended August 31, 2021 |
Brokerage Commissions Paid During Fiscal Year Ended August 31, 2020 |
Brokerage Commissions Paid During Fiscal Year Ended August 31, 2019 | ||||
iShares Core MSCI Emerging Markets ETF | 10/18/12 | $13,270,049 | $9,153,513 | $ 12,614,495 | ||||
iShares ESG Aware MSCI EM ETF | 06/28/16 | 3,570,556 | 2,301,784 | 292,587 | ||||
iShares MSCI Brazil ETF | 07/10/00 | 1,273,220 | 1,424,676 | 1,351,574 | ||||
iShares MSCI BIC ETF | 11/12/07 | 96,185 | 72,535 | 118,236 | ||||
iShares MSCI Chile ETF | 11/12/07 | 502,993 | 589,972 | 523,035 | ||||
iShares MSCI Colombia ETF | 06/18/13 | 44,354 | 37,177 | 42,785 | ||||
iShares MSCI Emerging Markets Asia ETF | 02/08/12 | 312,430 | 92,241 | 80,955 | ||||
iShares MSCI Emerging Markets ETF | 04/07/03 | 3,697,749 | 6,013,906 | 7,272,668 | ||||
iShares MSCI Emerging Markets Min Vol Factor ETF | 10/18/11 | 1,794,901 | 1,961,807 | 2,204,789 | ||||
iShares MSCI Emerging Markets Multifactor ETF | 12/08/2015 | 342,385 | 244,622 | 234,114 | ||||
iShares MSCI Emerging Markets Small-Cap ETF | 08/16/11 | 154,352 | 94,514 | 90,558 |
Fund | Fund Inception Date |
Brokerage Commissions Paid During Fiscal Year Ended August 31, 2021 |
Brokerage Commissions Paid During Fiscal Year Ended August 31, 2020 |
Brokerage Commissions Paid During Fiscal Year Ended August 31, 2019 | ||||
iShares MSCI Frontier and Select EM ETF | 09/12/12 | 599,515 | 1,026,713 | 1,129,297 | ||||
iShares MSCI Global Agriculture Producers ETF | 01/31/12 | 7,511 | 1,732 | 2,965 | ||||
iShares MSCI Global Energy Producers ETF | 01/31/12 | 4,558 | 6,077 | 2,281 | ||||
iShares MSCI Global Gold Miners ETF | 01/31/12 | 56,519 | 56,205 | 30,771 | ||||
iShares MSCI Global Metals & Mining Producers ETF | 01/31/12 | 172,163 | 26,351 | 45,769 | ||||
iShares MSCI Global Min Vol Factor ETF | 10/18/11 | 695,865 | 663,974 | 595,024 | ||||
iShares MSCI Global Silver and Metals Miners ETF | 01/31/12 | 72,235 | 86,128 | 20,055 | ||||
iShares MSCI Malaysia ETF | 03/12/96 | 128,722 | 213,800 | 311,877 | ||||
iShares MSCI South Korea ETF | 05/09/00 | 1,221,318 | 594,253 | 939,977 | ||||
iShares MSCI Taiwan ETF | 06/20/00 | 949,640 | 685,758 | 599,554 |
Fund | Issuer | Market Value of Investment | ||
iShares Core MSCI Emerging Markets ETF | CITIC Securities Co. Ltd. | $71,530,881 | ||
iShares MSCI Brazil ETF | Banco Bradesco SA | $323,442,986 | ||
Banco BTG Pactual SA | 55,089,729 | |||
Banco Santander SA | 50,437,709 | |||
iShares MSCI BIC ETF | CITIC Securities Co. Ltd. | $259,838 | ||
Haitong Securities Co. Ltd. | 107,073 | |||
iShares MSCI Chile ETF | Banco Santander SA | $21,129,677 | ||
iShares MSCI Emerging Markets Asia ETF | CITIC Securities Co. Ltd. | $1,200,820 | ||
Haitong Securities Co. Ltd. | 603,548 | |||
iShares MSCI Emerging Markets ETF | CITIC Securities Co. Ltd. | $32,231,203 | ||
iShares MSCI Global Min Vol Factor ETF | CITIC Securities Co. Ltd. | $2,587,680 | ||
Fund | Fiscal Year Ended August 31, 2021 |
Fiscal Year Ended August 31, 2020 | ||
iShares Core MSCI Emerging Markets ETF | 9% | 15% | ||
iShares ESG Aware MSCI EM ETF | 41% | 46% | ||
iShares MSCI Brazil ETF | 17% | 29% | ||
iShares MSCI BIC ETF | 80% | 42% | ||
iShares MSCI Chile ETF | 62% | 51% | ||
iShares MSCI Colombia ETF | 52% | 75% | ||
iShares MSCI Emerging Markets Asia ETF | 48% | 20% | ||
iShares MSCI Emerging Markets ETF | 9% | 19% | ||
iShares MSCI Emerging Markets Min Vol Factor ETF | 38% | 23% | ||
iShares MSCI Emerging Markets Multifactor ETF | 49% | 45% | ||
iShares MSCI Emerging Markets Small-Cap ETF | 34% | 46% | ||
iShares MSCI Frontier and Select EM ETF | 36% | 25% | ||
iShares MSCI Global Agriculture Producers ETF | 6% | 9% | ||
iShares MSCI Global Energy Producers ETF | 8% | 12% | ||
iShares MSCI Global Gold Miners ETF | 12% | 21% | ||
iShares MSCI Global Metals & Mining Producers ETF | 17% | 11% | ||
iShares MSCI Global Min Vol Factor ETF | 25% | 22% | ||
iShares MSCI Global Silver and Metals Miners ETF | 31% | 66% | ||
iShares MSCI Malaysia ETF | 28% | 58% | ||
iShares MSCI South Korea ETF | 20% | 15% | ||
iShares MSCI Taiwan ETF | 12% | 15% |
Fund | Shares Per Creation Unit |
Approximate Value Per Creation Unit (U.S.$) | ||
iShares Core MSCI Emerging Markets ETF | 600,000 | $37,062,000 | ||
iShares ESG Aware MSCI EM ETF | 100,000 | 4,150,000 | ||
iShares MSCI Brazil ETF | 50,000 | 1,612,000 | ||
iShares MSCI BIC ETF | 50,000 | 2,423,000 | ||
iShares MSCI Chile ETF | 50,000 | 1,312,000 | ||
iShares MSCI Colombia ETF | 50,000 | 520,000 | ||
iShares MSCI Emerging Markets Asia ETF | 100,000 | 8,481,000 | ||
iShares MSCI Emerging Markets ETF | 450,000 | 22,707,000 | ||
iShares MSCI Emerging Markets Min Vol Factor ETF | 100,000 | 6,270,000 | ||
iShares MSCI Emerging Markets Multifactor ETF | 100,000 | 5,162,000 | ||
iShares MSCI Emerging Markets Small-Cap ETF | 100,000 | 6,081,000 | ||
iShares MSCI Frontier and Select EM ETF | 50,000 | 1,714,000 | ||
iShares MSCI Global Agriculture Producers ETF | 50,000 | 1,951,500 | ||
iShares MSCI Global Energy Producers ETF | 50,000 | 879,500 | ||
iShares MSCI Global Gold Miners ETF | 50,000 | 1,225,000 | ||
iShares MSCI Global Metals & Mining Producers ETF | 50,000 | 2,043,500 | ||
iShares MSCI Global Min Vol Factor ETF | 100,000 | 10,287,000 | ||
iShares MSCI Global Silver and Metals Miners ETF | 100,000 | 1,233,000 | ||
iShares MSCI Malaysia ETF | 75,000 | 1,918,500 | ||
iShares MSCI South Korea ETF | 50,000 | 4,029,500 | ||
iShares MSCI Taiwan ETF | 100,000 | 6,237,000 |
Fund | Standard Creation Transaction Fee |
Maximum Additional Charge* | ||
iShares Core MSCI Emerging Markets ETF | $15,000 | 7.0% | ||
iShares ESG Aware MSCI EM ETF | 12,400 | 3.0% | ||
iShares MSCI Brazil ETF | 2,400 | 7.0% | ||
iShares MSCI BIC ETF | 5,900 | 7.0% | ||
iShares MSCI Chile ETF | 3,000 | 3.0% | ||
iShares MSCI Colombia ETF | 3,600 | 3.0% | ||
iShares MSCI Emerging Markets Asia ETF | 15,000 | 7.0% | ||
iShares MSCI Emerging Markets ETF | 7,700 | 7.0% | ||
iShares MSCI Emerging Markets Min Vol Factor ETF | 6,100 | 7.0% | ||
iShares MSCI Emerging Markets Multifactor ETF | 9,000 | 7.0% | ||
iShares MSCI Emerging Markets Small-Cap ETF | 15,000 | 7.0% | ||
iShares MSCI Frontier and Select EM ETF | 6,800 | 7.0% | ||
iShares MSCI Global Agriculture Producers ETF | 5,100 | 7.0% | ||
iShares MSCI Global Energy Producers ETF | 6,100 | 7.0% | ||
iShares MSCI Global Gold Miners ETF | 800 | 7.0% | ||
iShares MSCI Global Metals & Mining Producers ETF | 8,400 | 7.0% | ||
iShares MSCI Global Min Vol Factor ETF | 4,200 | 7.0% | ||
iShares MSCI Global Silver and Metals Miners ETF | 500 | 7.0% | ||
iShares MSCI Malaysia ETF | 5,000 | 3.0% | ||
iShares MSCI South Korea ETF | 4,000 | 3.0% | ||
iShares MSCI Taiwan ETF | 4,500 | 3.0% |
* | As a percentage of the net asset value per Creation Unit. |
Fund | Standard Redemption Transaction Fee |
Maximum Additional Charge* | ||
iShares Core MSCI Emerging Markets ETF | $15,000 | 2.0% | ||
iShares ESG Aware MSCI EM ETF | 12,400 | 2.0% | ||
iShares MSCI Brazil ETF | 2,400 | 2.0% | ||
iShares MSCI BIC ETF | 5,900 | 2.0% | ||
iShares MSCI Chile ETF | 3,000 | 2.0% | ||
iShares MSCI Colombia ETF | 3,600 | 2.0% | ||
iShares MSCI Emerging Markets Asia ETF | 15,000 | 2.0% | ||
iShares MSCI Emerging Markets ETF | 7,700 | 2.0% | ||
iShares MSCI Emerging Markets Min Vol Factor ETF | 6,100 | 2.0% | ||
iShares MSCI Emerging Markets Multifactor ETF | 9,000 | 2.0% | ||
iShares MSCI Emerging Markets Small-Cap ETF | 15,000 | 2.0% | ||
iShares MSCI Frontier and Select EM ETF | 6,800 | 2.0% | ||
iShares MSCI Global Agriculture Producers ETF | 5,100 | 2.0% | ||
iShares MSCI Global Energy Producers ETF | 6,100 | 2.0% | ||
iShares MSCI Global Gold Miners ETF | 800 | 2.0% | ||
iShares MSCI Global Metals & Mining Producers ETF | 8,400 | 2.0% | ||
iShares MSCI Global Min Vol Factor ETF | 4,200 | 2.0% | ||
iShares MSCI Global Silver and Metals Miners ETF | 500 | 2.0% | ||
iShares MSCI Malaysia ETF | 5,000 | 2.0% | ||
iShares MSCI South Korea ETF | 4,000 | 2.0% | ||
iShares MSCI Taiwan ETF | 4,500 | 2.0% |
* | As a percentage of the net asset value per Creation Unit, inclusive of the standard redemption transaction fee. |
Fund | Non-Expiring Capital Loss Carryforward | |
iShares Core MSCI Emerging Markets ETF | $6,442,750,309 | |
iShares ESG Aware MSCI EM ETF | 96,635,574 | |
iShares MSCI Brazil ETF | 3,814,461,403 | |
iShares MSCI BIC ETF | 222,988,191 | |
iShares MSCI Chile ETF | 192,032,509 | |
iShares MSCI Colombia ETF | 15,937,379 | |
iShares MSCI Emerging Markets Asia ETF | 52,695,377 | |
iShares MSCI Emerging Markets ETF | 11,976,796,425 |
Fund | Non-Expiring Capital Loss Carryforward | |
iShares MSCI Emerging Markets Min Vol Factor ETF | 871,741,410 | |
iShares MSCI Emerging Markets Multifactor ETF | 62,842,118 | |
iShares MSCI Emerging Markets Small-Cap ETF | 18,944,995 | |
iShares MSCI Frontier and Select EM ETF | 156,460,419 | |
iShares MSCI Global Agriculture Producers ETF | 4,297,399 | |
iShares MSCI Global Energy Producers ETF | 7,421,209 | |
iShares MSCI Global Gold Miners ETF | 54,956,433 | |
iShares MSCI Global Metals & Mining Producers ETF | 56,926,585 | |
iShares MSCI Global Min Vol Factor ETF | 235,562,633 | |
iShares MSCI Global Silver and Metals Miners ETF | 18,280,288 | |
iShares MSCI Malaysia ETF | 102,921,977 | |
iShares MSCI South Korea ETF | 376,227,471 |
• | Capital gains resulting from the sale of Indian securities (including depositary receipts issued by Indian companies) acquired prior to April 1, 2017 will not be subject to tax in India, provided the Subsidiary does not have a Permanent Establishment in India. Capital gains resulting from sale of shares in Indian companies acquired on or after April 1, 2017 will be subject to tax in India as per the domestic tax rates (provided below). |
• | Prior to the Finance Act, 2020, the dividend distributed by a domestic company was subject to dividend distribution tax at an effective rate of 20.56% (inclusive of surcharge), in the hands of such domestic company. Such dividends received by non-resident shareholders are exempt from taxation in India in the hands of such non-resident shareholders. However, the Finance Act, 2020 amended the IT Act to abolish the dividend distribution tax regime. |
• | Under the amended IT Act, the dividend income would be subject to tax directly from the shareholder and no tax is required to be paid by the domestic company distributing dividends. Dividend income earned by a non-resident would be subject to tax at the rate of 21.84% under the IT Act. |
• | The Subsidiary, being a resident of Mauritius, may claim the benefit of the DTAA. As per the DTAA, dividend income received by the Subsidiary from an Indian company would be taxed at the rate of 5%, provided the Subsidiary |
directly holds at least 10% of the capital of such company. Otherwise such dividend income would be subject to tax at the rate of 15%. Further, the distribution of dividends would also be subject to withholding tax and the domestic company distributing dividends to the Subsidiary would be required to withhold tax at the aforementioned rates; and | |
• | Interest paid to the Subsidiary in respect of the debt obligations of Indian issuers will be subject to Indian income tax. The tax rate, in the case of rupee-denominated debt obligations, is 43.68%. However if the Subsidiary is a SEBI registered FPI, interest income earned from June 1, 2013 to June 30, 2023 on rupee-denominated bonds of Indian companies and Government securities, will be subject to tax at the rate of 5.46%, provided that the rate of interest does not exceed the prescribed rates. In the case of foreign currency-denominated debt obligations, the tax rate is 21.84%. For approved foreign currency loans advanced from July 1, 2012 to June 30, 2023, the tax rate on interest is 5.46% and for approved foreign currency long-term bonds issued from October 1, 2014 to June 30, 2023, the tax rate on interest is 5.46%. As per the IT Act the withholding tax rate on rupee-denominated bonds issued before July 1, 2023 to 5.46%. However, the Subsidiary may claim the benefit of the provisions of the DTAA to the extent they are more beneficial. DTAA provides for a withholding rate of 7.5% on the interest payments made on or after April 1, 2017. |
• | Long-term capital gains (being gains on sale of shares held for a period of more than twelve months) listed on a recognized stock exchange would be taxable in India at rate of 10.92%, provided Securities Transaction Tax (“STT”) has been paid, both on acquisition and sale (subject to certain transactions to which the provisions of applicability of payment of STT upon acquisition shall not be applicable) of such shares. Capital gains tax would be calculated on gains exceeding INR 0.1 million (without any indexation and foreign exchange fluctuation benefits). It may also be noted that any capital gains arising up to January 31, 2018 have been grandfathered; |
• | Short-term capital gains (being gains on sale of shares held for a period of twelve months or less) from the sale of Indian shares listed on a recognized stock exchange will be taxed at the rate of 16.38% provided STT has been paid on the same; |
• | Long-term capital gains (being gains on sale of shares held for a period of more than 24 months) arising to the Subsidiary from the sale of unlisted securities will be taxed at the rate of 10.92% (without indexation) and short-term capital gains (being gains on sale of shares held for a period of 24 months or less) will be taxed at the rate of 43.68%;* |
• | Capital gains realized on sale of listed equity shares not executed on a recognized stock exchange in India would be taxed at the rate of 10.92% for long-term gains (being gains on sale of shares held for a period of more than 12 months) and at 43.68% in the case of short-term gains (being gains on sale of shares held for a period of 12 months or less);* and |
• | Capital gains arising from the transfer of depositary receipts outside India between non-resident investors will not be subject to tax in India. These rates are subject to the beneficial provisions of the DTAA. |
* | However, as the Subsidiary is a SEBI registered FPI, the rates will be 10.92% and 32.76%, respectively. |
• | 0.1% payable by the buyer and 0.1% by the seller on the value of transactions of delivery based transfer of an equity share in an Indian company entered in a recognized stock exchange; |
• | 0.001% on the value of transactions of delivery based sale of a unit of an equity oriented mutual fund entered in a recognized stock exchange, payable by the seller; |
• | 0.025% on the value of transactions of non-delivery based sale of an equity share in an Indian company or a unit of an equity oriented mutual fund, entered in a recognized stock exchange payable by the seller; |
• | 0.05% on the value of transactions of derivatives being options, entered in a recognized stock exchange. STT is to be paid by the seller; |
• | 0.01% on the value of transactions of sale of derivatives being futures, entered in a recognized stock exchange. STT is to be paid by the seller; |
• | 0.001% on the value of transactions of sale of units of an equity-oriented fund to the Mutual Fund, payable by the seller in accordance with the Finance Act, 2013; |
• | 0.125% on the value of transactions of sale of derivatives being options, where the option is exercised, entered in a recognized stock exchange. STT is to be paid by buyer; |
• | 0.2% on the value of transactions of the sale of unlisted shares by existing shareholders in an initial public offer. |
• | Boards and directors |
• | Auditors and audit-related issues |
• | Capital structure, mergers, asset sales and other special transactions |
• | Compensation and benefits |
• | Environmental and social issues |
• | General corporate governance matters and shareholder protections |
• | establishing an appropriate corporate governance structure |
• | supporting and overseeing management in setting long -term strategic goals, applicable measures of value-creation and milestones that will demonstrate progress, and steps taken if any obstacles are anticipated or incurred |
• | ensuring the integrity of financial statements |
• | making independent decisions regarding mergers, acquisitions and disposals |
• | establishing appropriate executive compensation structures |
• | addressing business issues, including environmental and social issues, when they have the potential to materially impact company reputation and performance |
• | current or former employment at the company or a subsidiary within the past several years |
• | being, or representing, a shareholder with a substantial shareholding in the company |
• | interlocking directorships |
• | having any other interest, business or other relationship which could, or could reasonably be perceived to, materially interfere with the director’s ability to act in the best interests of the company |
1) | publish a disclosure in line with industry-specific SASB guidelines by year-end, if they have not already done so, or disclose a similar set of data in a way that is relevant to their particular business; and |
2) | disclose climate-related risks in line with the TCFD’s recommendations, if they have not already done so. This should include the company’s plan for operating under a scenario where the Paris Agreement’s goal of limiting global warming to less than two degrees is fully realized, as expressed by the TCFD guidelines. |
• | The company has already taken sufficient steps to address the concern |
• | The company is in the process of actively implementing a response |
• | There is a clear and material economic disadvantage to the company in the near-term if the issue is not addressed in the manner requested by the shareholder proposal |
• | BlackRock clients who may be issuers of securities or proponents of shareholder resolutions |
• | BlackRock business partners or third parties who may be issuers of securities or proponents of shareholder resolutions |
• | BlackRock employees who may sit on the boards of public companies held in Funds managed by BlackRock |
• | Significant BlackRock, Inc. investors who may be issuers of securities held in Funds managed by BlackRock |
• | Securities of BlackRock, Inc. or BlackRock investment funds held in Funds managed by BlackRock |
• | BlackRock, Inc. board members who serve as senior executives of public companies held in Funds managed by BlackRock |
• | Adopted the Guidelines which are designed to protect and enhance the economic value of the companies in which BlackRock invests on behalf of clients. |
• | Established a reporting structure that separates BIS from employees with sales, vendor management or business partnership roles. In addition, BlackRock seeks to ensure that all engagements with corporate issuers, dissident shareholders or shareholder proponents are managed consistently and without regard to BlackRock’s relationship with such parties. Clients or business partners are not given special treatment or differentiated access to BIS. BIS prioritizes engagements based on factors including but not limited to our need for additional information to make a voting decision or our view on the likelihood that an engagement could lead to positive outcome(s) over time for the economic value of the company. Within the normal course of business, BIS may engage directly with BlackRock clients, business partners and/or third parties, and/or with employees with sales, vendor management or business partnership roles, in discussions regarding our approach to stewardship, general corporate governance matters, client reporting needs, and/or to otherwise ensure that proxy-related client service levels are met. |
• | Determined to engage, in certain instances, an independent fiduciary to vote proxies as a further safeguard to avoid potential conflicts of interest, to satisfy regulatory compliance requirements, or as may be otherwise required by applicable law. In such circumstances, the independent fiduciary provides BlackRock’s proxy voting agent with instructions, in accordance with the Guidelines, as to how to vote such proxies, and BlackRock’s proxy voting agent votes the proxy in accordance with the independent fiduciary’s determination. BlackRock uses an independent fiduciary to vote proxies of (i) any company that is affiliated with BlackRock, Inc., (ii) any public company that includes BlackRock employees on its board of directors, (iii) The PNC Financial Services Group, Inc., (iv) any public company of which a BlackRock, Inc. board member serves as a senior executive, and (v) companies when legal or regulatory requirements compel BlackRock to use an independent fiduciary. In selecting an independent fiduciary, we assess several characteristics, including but not limited to: independence, an ability to analyze proxy issues and vote in the best economic interest of our clients, reputation for reliability and integrity, and operational capacity to accurately deliver the assigned votes in a timely manner. We may engage more than one independent fiduciary, in part in order to mitigate potential or perceived conflicts of interest at an independent fiduciary. The Global Committee appoints and reviews the performance of the independent fiduciar(ies), generally on an annual basis. |
Contents | |
Introduction | A-16 |
Voting guidelines | A-16 |
Boards and directors | A-16 |
- Director elections | A-16 |
- Independence | A-16 |
- Oversight | A-17 |
- Responsiveness to shareholders | A-17 |
- Shareholder rights | A-17 |
- Board composition and effectiveness | A-18 |
- Board size | A-19 |
- CEO and management succession planning | A-19 |
- Classified board of directors / staggered terms | A-19 |
- Contested director elections | A-19 |
- Cumulative voting | A-19 |
- Director compensation and equity programs | A-19 |
- Majority vote requirements | A-19 |
- Risk oversight | A-20 |
- Separation of chairman and CEO | A-20 |
Auditors and audit-related issues | A-20 |
Capital structure proposals | A-21 |
- Equal voting rights | A-21 |
- Blank check preferred stock | A-21 |
- Increase in authorized common shares | A-21 |
- Increase or issuance of preferred stock | A-21 |
- Stock splits | A-22 |
Mergers, asset sales, and other special transactions | A-22 |
- Poison pill plans | A-22 |
- Reimbursement of expenses for successful shareholder campaigns | A-22 |
Executive Compensation | A-22 |
- Advisory resolutions on executive compensation (“Say on Pay”) | A-23 |
- Advisory votes on the frequency of Say on Pay resolutions | A-23 |
- Claw back proposals | A-23 |
- Employee stock purchase plans | A-23 |
- Equity compensation plans | A-23 |
- Golden parachutes | A-23 |
- Option exchanges | A-24 |
- Pay-for-Performance plans | A-24 |
- Supplemental executive retirement plans | A-24 |
Environmental and social issues | A-24 |
- Climate risk | A-25 |
- Corporate political activities | A-26 |
General corporate governance matters | A-26 |
- Adjourn meeting to solicit additional votes | A-26 |
- Bundled proposals | A-26 |
- Exclusive forum provisions | A-26 |
- Multi-jurisdictional companies | A-26 |
- Other business | A-27 |
- Reincorporation | A-27 |
- IPO governance | A-27 |
Contents | |
Shareholder Protections | A-27 |
- Amendment to charter / articles / bylaws | A-27 |
- Proxy access | A-28 |
- Right to act by written consent | A-28 |
- Right to call a special meeting | A-28 |
- Simple majority voting | A-28 |
• | Boards and directors |
• | Auditors and audit-related issues |
• | Capital structure |
• | Mergers, asset sales, and other special transactions |
• | Executive compensation |
• | Environmental and social issues |
• | General corporate governance matters |
• | Shareholder protections |
• | Employment as a senior executive by the company or a subsidiary within the past five years |
• | An equity ownership in the company in excess of 20% |
• | Having any other interest, business, or relationship which could, or could reasonably be perceived to, materially interfere with the director’s ability to act in the best interests of the company |
• | Where the board has failed to exercise oversight with regard to accounting practices or audit oversight, we will consider voting against the current audit committee, and any other members of the board who may be responsible. For example, this may apply to members of the audit committee during a period when the board failed to facilitate quality, independent auditing if substantial accounting irregularities suggest insufficient oversight by that committee |
• | Members of the compensation committee during a period in which executive compensation appears excessive relative to performance and peers, and where we believe the compensation committee has not already substantially addressed this issue |
• | The chair of the nominating / governance committee, or where no chair exists, the nominating / governance committee member with the longest tenure, where the board is not comprised of a majority of independent directors. However, this would not apply in the case of a controlled company |
• | Where it appears the director has acted (at the company or at other companies) in a manner that compromises his / her reliability to represent the best long-term economic interests of shareholders |
• | Where a director has a pattern of poor attendance at combined board and applicable key committee meetings. Excluding exigent circumstances, BlackRock generally considers attendance at less than 75% of the combined board and applicable key committee meetings by a board member to be poor attendance |
• | Where a director serves on an excess number of boards, which may limit his / her capacity to focus on each board’s requirements. The following illustrates the maximum number of boards on which a director may serve, before he / she is considered to be over-committed: |
Public Company CEO |
# Outside Public Boards* |
Total # of Public Boards | |||
Director A | x | 1 | 2 | ||
Director B | 3 | 4 |
* | In addition to the company under review |
• | The independent chair or lead independent director, members of the nominating / governance committee, and / or the longest tenured director(s), where we observe a lack of board responsiveness to shareholders, evidence of board entrenchment, and / or failure to promote adequate board succession planning |
• | The chair of the nominating / governance committee, or where no chair exists, the nominating / governance committee member with the longest tenure, where board member(s) at the most recent election of directors have received withhold votes from more than 30% of shares voted and the board has not taken appropriate action to respond to shareholder concerns. This may not apply in cases where BlackRock did not support the initial withhold vote |
• | The independent chair or lead independent director and / or members of the nominating / governance committee, where a board fails to implement shareholder proposals that receive a majority of votes cast at a prior shareholder meeting, and the proposals, in our view, have a direct and substantial impact on shareholders’ fundamental rights or long-term economic interests |
• | The independent chair or lead independent director and members of the governance committee, where a board implements or renews a poison pill without shareholder approval |
• | The independent chair or lead independent director and members of the governance committee, where a board amends the charter / articles / bylaws such that the effect may be to entrench directors or to significantly reduce shareholder rights |
• | Members of the compensation committee where the company has repriced options without shareholder approval |
• | If a board maintains a classified structure, it is possible that the director(s) with whom we have a particular concern may not be subject to election in the year that the concern arises. In such situations, if we have a concern regarding a committee or committee chair that is not up for re-election, we will generally register our concern by withholding votes from all available members of the relevant committee |
• | The mix of competencies, experience, and other qualities required to effectively oversee and guide management in light of the stated long-term strategy of the company |
• | The process by which candidates are identified and selected, including whether professional firms or other sources outside of incumbent directors’ networks have been engaged to identify and / or assess candidates |
• | The process by which boards evaluate themselves and any significant outcomes of the evaluation process, without divulging inappropriate and / or sensitive details |
• | The consideration given to board diversity, including, but not limited to, gender, ethnicity, race, age, experience, geographic location, skills, and perspective in the nomination process |
Combined Chair / CEO Model |
Separate Chair Model | ||||
Chair / CEO | Lead Director | Chair | |||
Board Meetings | Authority to call full meetings of the board of directors | Attends full meetings of the board of directors Authority to call meetings of independent directors Briefs CEO on issues arising from executive sessions |
Authority to call full meetings of the board of directors | ||
Agenda | Primary responsibility for shaping board agendas, consulting with the lead director | Collaborates with chair / CEO to set board agenda and board information | Primary responsibility for shaping board agendas, in conjunction with CEO | ||
Board Communications | Communicates with all directors on key issues and concerns outside of full board meetings | Facilitates discussion among independent directors on key issues and concerns outside of full board meetings, including contributing to the oversight of CEO and management succession planning | Facilitates discussion among independent directors on key issues and concerns outside of full board meetings, including contributing to the oversight of CEO and management succession planning |
• | Appears to have a legitimate financing motive for requesting blank check authority |
• | Has committed publicly that blank check preferred shares will not be used for anti-takeover purposes |
• | Has a history of using blank check preferred stock for financings |
• | Has blank check preferred stock previously outstanding such that an increase would not necessarily provide further anti-takeover protection but may provide greater financing flexibility |
• | The degree to which the proposed transaction represents a premium to the company’s trading price. We consider the share price over multiple time periods prior to the date of the merger announcement. In most cases, business combinations should provide a premium. We may consider comparable transaction analyses provided by the parties’ financial advisors and our own valuation assessments. For companies facing insolvency or bankruptcy, a premium may not apply |
• | There should be clear strategic, operational, and / or financial rationale for the combination |
• | Unanimous board approval and arm’s-length negotiations are preferred. We will consider whether the transaction involves a dissenting board or does not appear to be the result of an arm’s-length bidding process. We may also consider whether executive and / or board members’ financial interests in a given transaction appear likely to affect their ability to place shareholders’ interests before their own |
• | We prefer transaction proposals that include the fairness opinion of a reputable financial advisor assessing the value of the transaction to shareholders in comparison to recent similar transactions |
• | Whether we believe that the triggering event is in the best interest of shareholders |
• | Whether management attempted to maximize shareholder value in the triggering event |
• | The percentage of total premium or transaction value that will be transferred to the management team, rather than shareholders, as a result of the golden parachute payment |
• | Whether excessively large excise tax gross-up payments are part of the pay-out |
• | Whether the pay package that serves as the basis for calculating the golden parachute payment was reasonable in light of performance and peers |
• | Whether the golden parachute payment will have the effect of rewarding a management team that has failed to effectively manage the company |
• | The company has experienced significant stock price decline as a result of macroeconomic trends, not individual company performance |
• | Directors and executive officers are excluded; the exchange is value neutral or value creative to shareholders; tax, accounting, and other technical considerations have been fully contemplated |
• | There is clear evidence that absent repricing, the company will suffer serious employee incentive or retention and recruiting problems |
• | Publish disclosures in line with industry specific SASB guidelines by year-end, if they have not already done so, or disclose a similar set of data in a way that is relevant to their particular business; and |
• | Disclose climate-related risks in line with the TCFD’s recommendations, if they have not already done so. This should include the company’s plan for operating under a scenario where the Paris Agreement’s goal of limiting global warming to less than two degrees is fully realized, as expressed by the TCFD guidelines. |
• | The company has already taken sufficient steps to address the concern |
• | The company is in the process of actively implementing a response |
• | There is a clear and material economic disadvantage to the company in the near-term if the issue is not addressed in the manner requested by the shareholder proposal |
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Label | Element | Value |
---|---|---|
Risk/Return: | rr_RiskReturnAbstract | |
Document Type | dei_DocumentType | 497 |
Document Period End Date | dei_DocumentPeriodEndDate | Aug. 31, 2021 |
Registrant Name | dei_EntityRegistrantName | iShares, Inc. |
Entity Central Index Key | dei_EntityCentralIndexKey | 0000930667 |
Amendment Flag | dei_AmendmentFlag | false |
Document Creation Date | dei_DocumentCreationDate | Nov. 14, 2022 |
Document Effective Date | dei_DocumentEffectiveDate | Nov. 14, 2022 |
Prospectus Date | rr_ProspectusDate | Dec. 30, 2021 |
Entity Inv Company Type | dei_EntityInvCompanyType | N-1A |
Label | Element | Value | ||||||
---|---|---|---|---|---|---|---|---|
iShares MSCI Emerging Markets Multifactor ETF | ||||||||
Risk/Return: | rr_RiskReturnAbstract | |||||||
Risk/Return [Heading] | rr_RiskReturnHeading | iSHARES® MSCI EMERGING MARKETS MULTIFACTOR ETF Ticker: EMGF Stock Exchange: Cboe BZX | ||||||
Objective [Heading] | rr_ObjectiveHeading | Investment Objective | ||||||
Objective, Primary [Text Block] | rr_ObjectivePrimaryTextBlock | The iShares MSCI Emerging Markets Multifactor ETF (the “Fund”) seeks to track the investment results of an index composed of stocks of large- and mid-capitalization companies in emerging markets that have favorable exposure to target style factors subject to constraints.
|
||||||
Expense [Heading] | rr_ExpenseHeading | Fees and Expenses | ||||||
Expense Narrative [Text Block] | rr_ExpenseNarrativeTextBlock | The following table describes the fees and expenses that you will incur if you buy, hold and sell shares of the Fund. The investment advisory agreement between iShares, Inc. (the “Company”) and BlackRock Fund Advisors (“BFA”) (the “Investment Advisory Agreement”) provides that BFA will pay all operating expenses of the Fund, except: (i) the management fees, (ii) interest expenses, (iii) taxes, (iv) 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, (v) litigation expenses and any extraordinary expenses. The Fund may incur “Acquired Fund Fees and Expenses.” Acquired Fund Fees and Expenses reflect the Fund's pro rata share of the fees and expenses incurred by investing in other investment companies. The impact of Acquired Fund Fees and Expenses is included in the total returns of the Fund. Acquired Fund Fees and Expenses are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund's prospectus (the “Prospectus”). BFA, the investment adviser to the Fund, has contractually agreed to waive a portion of its management fees in an amount equal to the Acquired Fund Fees and Expenses, if any, attributable to investments by the Fund in other series of iShares Trust and the Company through December 31, 2026. The contractual waiver may be terminated prior to December 31, 2026 only upon written agreement of the Company and BFA. You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the tables and examples below.
|
||||||
Operating Expenses Caption [Text] | rr_OperatingExpensesCaption | Annual Fund Operating Expenses (ongoing expenses that you pay each year as a percentage of the value of your investments) | ||||||
Fee Waiver or Reimbursement over Assets, Date of Termination | rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination | December 31, 2026 | ||||||
Portfolio Turnover [Heading] | rr_PortfolioTurnoverHeading | Portfolio Turnover. | ||||||
Portfolio Turnover [Text Block] | rr_PortfolioTurnoverTextBlock | The Fund may pay transaction costs, such as commissions, when it buys and sells securities (or “turns over” their portfolios). 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 49% of the average value of its portfolio. | ||||||
Portfolio Turnover, Rate | rr_PortfolioTurnoverRate | 49.00% | ||||||
Expenses Not Correlated to Ratio Due to Acquired Fund Fees [Text] | rr_ExpensesNotCorrelatedToRatioDueToAcquiredFundFees | Acquired Fund Fees and Expenses are not included in the calculation of the ratio of expenses to average net assets shown in the Financial Highlights section of the Fund's prospectus (the “Prospectus”). | ||||||
Expense Example [Heading] | rr_ExpenseExampleHeading | Example. | ||||||
Expense Example Narrative [Text Block] | rr_ExpenseExampleNarrativeTextBlock | 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: | ||||||
Strategy [Heading] | rr_StrategyHeading | Principal Investment Strategies | ||||||
Strategy Narrative [Text Block] | rr_StrategyNarrativeTextBlock | The Fund seeks to track the investment results of the MSCI Emerging Markets Diversified Multiple-Factor Index (the “Underlying Index”), which has been developed by MSCI Inc. (the “Index Provider” or “MSCI”). The Underlying Index is designed to select equity securities from the MSCI Emerging Markets Index (the “Parent Index”) that have high exposure to four investment style factors: value, quality, momentum and low size, while maintaining a level of risk similar to that of the Parent Index. The Underlying Index is also constrained in its construction to limit turnover and extreme exposures to particular sectors, countries, component weights or other investment style factors. MSCI, in selecting equity securities from the Parent Index, assigns a composite score for a security through a proprietary model based on four equally weighted investment style factors. The value score is calculated from a company's valuation ratios (e.g., forward and trailing earnings to share price, cash earnings to share price, book value to share price and enterprise value to earnings before interest & taxes (EBIT)); the quality score is calculated from a company's underlying metrics (e.g., profitability metrics (asset turnover, gross profitability, gross margin and return-on-assets), investment quality metrics (total assets growth rate, issuance growth and capital expenditure growth), leverage ratios (market leverage, book leverage and debt-to-assets) and earnings variability (measured by volatility of earnings, cash flow, sales, and forward share price to earnings estimates)); the momentum score aims to measure a security's sustained relative performance against the global market over a two-year period and against other securities based in the same country over the previous 12 months (with a one month lag); and the low size score seeks to measure the market capitalization of a company as compared to other companies based in the same country. As of May 17, 2022, the Underlying Index consisted of approximately 255 companies from the following 20 countries: Brazil, Chile, China, Egypt, Greece, Hungary, India, Indonesia, Kuwait, Malaysia, Mexico, Poland, Qatar, Saudi Arabia, South Africa, South Korea, Taiwan, Thailand, Turkey and the United Arab Emirates. The Underlying Index includes large-, mid- and small-capitalization companies and may change over time. As of May 17, 2022, a significant portion of the Underlying Index is represented by securities of companies in the information technology and financials industries or sectors. The components of the Underlying Index are likely to change over time. The Underlying Index is rebalanced on a quarterly basis, usually as of the close of the last business day of February, May, August and November, coinciding with the regular Index Reviews (Semi-Annual Index Reviews in May and November and Quarterly Index Reviews in February and August) of the MSCI Global Investable Market Indexes. 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 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 80% of its assets in the component securities of its Underlying Index and in investments that have economic characteristics that are substantially identical to the component securities of its Underlying Index (i.e., depositary receipts representing securities of the Underlying Index) and may invest up to 20% 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. Cash and cash equivalent investments associated with a derivative position will be treated as part of that position for the purposes of calculating investments not included in 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 is 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 publishes information regarding the market value of the Underlying 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.
|
||||||
Strategy Portfolio Concentration [Text] | rr_StrategyPortfolioConcentration | 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. | ||||||
Risk [Heading] | rr_RiskHeading | Summary of Principal Risks | ||||||
Risk Narrative [Text Block] | rr_RiskNarrativeTextBlock | 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. Authorized Participant Concentration Risk. Only an Authorized Participant (as defined in the Creations and Redemptions section of 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, 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. Commodity Risk. The Fund invests in companies that are susceptible to fluctuations in certain commodity markets and to price changes due to trade relations. Any negative changes in commodity markets that may be due to changes in supply and demand for commodities, market events, regulatory developments, other catastrophic events, or other factors that the Fund cannot control could have an adverse impact on those companies. 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 and/or other assets of a particular issuer or issuers, country, group of countries, region, market, industry, group of industries, sector, market segment or asset class. Currency Risk. Because the Fund's NAV is determined in U.S. dollars, the Fund's NAV could decline if the currency of a non-U.S. market in which the Fund invests depreciates against the U.S. dollar or if there are delays or limits on repatriation of such currency. Currency exchange rates can be very volatile and can change quickly and unpredictably. As a result, the Fund's NAV may change quickly and without warning. Custody Risk. Less developed securities markets are more likely to experience problems with the clearing and settling of trades, as well as the holding of securities by local banks, agents and depositories. 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 composed 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. 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, and 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. Cyberattacks and technology malfunctions and failures have become increasingly frequent 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, or which are exposed to, 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. Unusual market conditions may cause the Index Provider to postpone a scheduled rebalance, which could cause the Underlying Index to vary from its normal or expected composition. Infectious Illness Risk. An outbreak of an infectious respiratory illness, COVID-19, caused by a novel coronavirus has resulted in travel restrictions, disruption of healthcare systems, prolonged quarantines, cancellations, supply chain disruptions, lower consumer demand, layoffs, ratings downgrades, defaults and other significant economic impacts. Certain markets have experienced temporary closures, extreme volatility, severe losses, reduced liquidity and increased trading costs. These events will have an impact on the Fund and its investments and could impact the Fund’s ability to purchase or sell securities or cause elevated tracking error and increased premiums or discounts to the Fund's NAV. Other infectious illness outbreaks in the future may result in similar impacts. Information Technology Sector Risk. Information technology companies face intense competition and potentially rapid product obsolescence. They are also heavily dependent on intellectual property rights and may be adversely affected by the loss or impairment of those rights. Companies in the information technology sector are facing increased government and regulatory scrutiny and may be subject to adverse government or regulatory action. Companies in the software industry may be adversely affected by, among other things, the decline or fluctuation of subscription renewal rates for their products and services and actual or perceived vulnerabilities in their products or services. 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. Large Shareholder and Large-Scale Redemption Risk. Certain shareholders, including an Authorized Participant, a third-party investor, the Fund’s adviser or an affiliate of the Fund’s adviser, a market maker, or another entity, may from time to time own or manage a substantial amount of Fund shares, or may invest in the Fund and hold their investment for a limited period of time. There can be no assurance that any large shareholder or large group of shareholders would not redeem their investment. Redemptions of a large number of Fund shares could require the Fund to dispose of assets to meet the redemption requests, which can accelerate the realization of taxable income and/or capital gains and cause the Fund to make taxable distributions to its shareholders earlier than the Fund otherwise would have. In addition, under certain circumstances, non-redeeming shareholders may be treated as receiving a disproportionately large taxable distribution during or with respect to such year. In some circumstances, the Fund may hold a relatively large proportion of its assets in cash in anticipation of large redemptions, diluting its investment returns. These large redemptions may also force the Fund to sell portfolio securities when it might not otherwise do so, which may negatively impact the Fund’s NAV, increase the Fund’s brokerage costs and/or have a material effect on the market price of the Fund shares. Low Size Securities Risk. The Underlying Index is designed to select stocks, in part, based on whether they are low size. The stocks of smaller companies within the Fund’s capitalization range (“low size companies”) may be less stable and more susceptible to adverse developments, and their securities may be more volatile and less liquid, than those on the larger end of the Fund’s capitalization range. The Fund will invest in low size companies to approximately the same extent that they are represented in the Underlying Index. 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. Local, regional or global events such as war, acts of terrorism, the spread of infectious illness or other public health issues, 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 Fund’s NAV. 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. Mid-Capitalization Companies Risk. Compared to large-capitalization companies, mid-capitalization companies may be less stable and more susceptible to adverse developments. In addition, the securities of mid-capitalization companies may be more volatile and less liquid than those of large-capitalization companies. Model Risk. Neither the Fund nor BFA can offer assurances that the Index Provider’s model will result in the Fund meeting its investment objective. The Fund may underperform other funds that do not similarly invest. Momentum Securities Risk. Stocks that previously exhibited high momentum characteristics may not experience positive momentum or may experience more volatility than the market as a whole. National Closed Market Trading Risk. To the extent that the underlying securities and/or other assets 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). The impact of a closed foreign market on the Fund is likely to be greater where a large portion of the Fund’s underlying securities and/or other assets trade on that closed foreign market or when the foreign market is closed for unscheduled reasons. 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. 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. Privatization Risk. Some countries in which the Fund invests have privatized, or have begun the process of privatizing, certain entities and industries. Privatized entities may lose money or be re-nationalized. Quality Stocks Risk. Stocks included in the Underlying Index are deemed by the Index Provider to be quality stocks, but there is no guarantee that the past performance of these stocks will continue. Companies that issue these stocks may experience lower than expected returns or may experience negative growth, as well as increased leverage, resulting in lower than expected or negative returns to Fund shareholders. Many factors can affect a stock’s quality and performance, and the impact of these factors on a stock or its price can be difficult to predict. 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 China. Investments in Chinese securities, including certain Hong Kong-listed and U.S.-listed securities, subject the Fund to risks specific to China. China may be subject to considerable degrees of economic, political and social instability. China is an emerging market and demonstrates significantly higher volatility from time to time in comparison to developed markets. Over the last few decades, the Chinese government has undertaken reform of economic and market practices and has expanded the sphere of private ownership of property in China. However, Chinese markets generally continue to experience inefficiency, volatility and pricing anomalies resulting from governmental influence, a lack of publicly available information and/or political and social instability. Chinese companies are also subject to the risk that Chinese authorities can intervene in their operations and structure. Internal social unrest or confrontations with neighboring countries, including military conflicts in response to such events, may also disrupt economic development in China and result in a greater risk of currency fluctuations, currency non-convertibility, interest rate fluctuations and higher rates of inflation. China has experienced security concerns, such as terrorism and strained international relations. Additionally, China is alleged to have participated in state-sponsored cyberattacks against foreign companies and foreign governments. Actual and threatened responses to such activity and strained international relations, including purchasing restrictions, sanctions, tariffs or cyberattacks on the Chinese government or Chinese companies, may impact China’s economy and Chinese issuers of securities in which the Fund invests. Incidents involving China's or the region's security may cause uncertainty in Chinese markets and may adversely affect the Chinese economy and the Fund's investments. Export growth continues to be a major driver of China's rapid economic growth. Reduction in spending on Chinese products and services, institution of additional tariffs or other trade barriers (including as a result of heightened trade tensions or a trade war between China and the U.S. or in response to actual or alleged Chinese cyber activity) or a downturn in any of the economies of China's key trading partners may have an adverse impact on the Chinese economy. Many Chinese companies listed on U.S. exchanges use variable interest entities or “VIEs” in their structure as a result of foreign ownership restrictions. In a VIE structure, a Chinese operating company establishes a shell company in another jurisdiction to issue stock to public shareholders. When a VIE structure is used by a Chinese company to list its stock in the U.S., instead of owning the equity securities of the Chinese company, the U.S.-listed shell company directly or indirectly enters into contracts with the Chinese operating company under Chinese law. These contracts provide the U.S.-listed shell company with only economic exposure to the Chinese company. Intervention by the Chinese government with respect to VIE structures or the non-enforcement of VIE-related contractual rights could significantly affect the operating company’s business in China, the enforceability of the U.S.-listed shell company’s contractual arrangements with the Chinese company and the value of the U.S.-listed stock. Any change in the operations of entities in a VIE structure, the status of VIE contractual arrangements or the legal or regulatory environment in China could result in significant losses to the Fund. Chinese companies, including Chinese companies that are listed on U.S. exchanges, are not subject to the same degree of regulatory requirements, accounting standards or auditor oversight as companies in more developed countries. As a result, information about the Chinese securities in which the Fund invests may be less reliable or complete. Chinese companies with securities listed on U.S. exchanges may be delisted if they do not meet U.S. accounting standards and auditor oversight requirements, which would significantly decrease the liquidity and value of the securities. There may be significant obstacles to obtaining information necessary for investigations into or litigation against Chinese companies, and shareholders may have limited legal remedies. The Fund is not actively managed and does not select investments based on investor protection considerations. Risk of Investing in Emerging Markets. Investments in emerging market issuers may be subject to a greater risk of loss than investments in issuers located or operating in more developed markets. Emerging markets may be more likely to experience inflation, political turmoil and rapid changes in economic conditions than more developed markets. Companies in many emerging markets are not subject to the same degree of regulatory requirements, accounting standards or auditor oversight as companies in more developed countries, and as a result, information about the securities in which the Fund invests may be less reliable or complete. Emerging markets often have less reliable securities valuations and greater risk associated with custody of securities than developed markets. There may be significant obstacles to obtaining information necessary for investigations into or litigation against companies and shareholders may have limited legal remedies. The Fund is not actively managed and does not select investments based on investor protection considerations. Risk of Investing in Russia. Investing in Russian securities involves significant risks, including legal, regulatory, currency and economic risks that are specific to Russia. In addition, investing in Russian securities involves risks associated with the settlement of portfolio transactions and loss of the Fund’s ownership rights in its portfolio securities as a result of the system of share registration and custody in Russia. Governments in the U.S. and many other countries have imposed economic sanctions on certain Russian individuals and Russian corporate and banking entities. A number of jurisdictions may also institute broader sanctions on Russia, including banning Russia from global payments systems that facilitate cross-border payments. Additionally, Russia is alleged to have participated in state-sponsored cyberattacks against foreign companies and foreign governments. Russia launched a large-scale invasion of Ukraine on February 24, 2022. The extent and duration of the military action, resulting sanctions and resulting future market disruptions, including declines in its stock markets and the value of the ruble against the U.S. dollar, are impossible to predict, but could be significant. Any such disruptions caused by Russian military action or other actions (including cyberattacks and espionage) or resulting actual and threatened responses to such activity, including purchasing and financing restrictions, boycotts or changes in consumer or purchaser preferences, sanctions, tariffs or cyberattacks on the Russian government, Russian companies, or Russian individuals, including politicians, may impact Russia’s economy and Russian issuers of securities in which the Fund invests. Actual and threatened responses to such military action may also impact the markets for certain Russian commodities, such as oil and natural gas, as well as other sectors of the Russian economy, and may likely have collateral impacts on such sectors globally. Risk of Investing in Saudi Arabia. The ability of foreign investors (such as the Fund) to invest in the securities of Saudi Arabian issuers is relatively new. Such ability could be restricted by the Saudi Arabian government at any time, and unforeseen risks could materialize with respect to foreign ownership in such securities. The economy of Saudi Arabia is dominated by petroleum exports. A sustained decrease in petroleum prices could have a negative impact on all aspects of the economy. Investments in the securities of Saudi Arabian issuers involve risks not typically associated with investments in securities of issuers in more developed countries that may negatively affect the value of the Fund’s investments. Such heightened risks may include, among others, expropriation and/or nationalization of assets, restrictions on and government intervention in international trade, confiscatory taxation, political instability, including authoritarian and/or military involvement in governmental decision making, armed conflict, crime and instability as a result of religious, ethnic and/or socioeconomic unrest. There remains the possibility that instability in the larger Middle East region could adversely impact the economy of Saudi Arabia, and there is no assurance of political stability in Saudi Arabia. Saudi Arabia Broker Risk. There are a number of different ways of conducting transactions in equity securities in the Saudi Arabian market. The Fund generally expects to conduct its transactions in a manner in which the Fund would not be limited by Saudi Arabian regulations to a single broker. However, there may be a limited number of brokers who can provide services to the Fund, which may have an adverse impact on the prices, quantity or timing of Fund transactions. 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. Security Risk. Some countries and regions in which the Fund invests 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. 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 received by the Fund or distributions paid to the Fund’s shareholders, the requirements to maintain pass-through tax treatment, portfolio transactions carried out to minimize the distribution of capital gains to shareholders, acceptance of custom baskets, changes to the Underlying Index or the costs to the Fund of complying with various new or existing regulatory requirements, among other reasons. 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. Tracking error may occur due to differences between the methodologies used in calculating the value of the Underlying Index and determining the Fund’s NAV. BFA EXPECTS THAT THE FUND WILL EXPERIENCE HIGHER TRACKING ERROR THAN IS TYPICAL FOR SIMILAR INDEX ETFS. 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 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.
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Risk Lose Money [Text] | rr_RiskLoseMoney | 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. | ||||||
Bar Chart and Performance Table [Heading] | rr_BarChartAndPerformanceTableHeading | Performance Information | ||||||
Performance Narrative [Text Block] | rr_PerformanceNarrativeTextBlock | 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. If BFA had not waived certain Fund fees during certain periods, the Fund's returns would have been lower.
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Performance Information Illustrates Variability of Returns [Text] | rr_PerformanceInformationIllustratesVariabilityOfReturns | 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. | ||||||
Performance Availability Phone [Text] | rr_PerformanceAvailabilityPhone | 1-800-iShares (1-800-474-2737) (toll free) | ||||||
Performance Availability Website Address [Text] | rr_PerformanceAvailabilityWebSiteAddress | www.iShares.com | ||||||
Performance Past Does Not Indicate Future [Text] | rr_PerformancePastDoesNotIndicateFuture | Past performance (before and after taxes) does not necessarily indicate how the Fund will perform in the future. | ||||||
Bar Chart [Heading] | rr_BarChartHeading | Year by Year Returns1 (Years Ended December 31) | ||||||
Bar Chart Closing [Text Block] | rr_BarChartClosingTextBlock | The best calendar quarter return during the periods shown above was 16.16% in the 2nd quarter of 2020; the worst was -24.27% in the 1st quarter of 2020. 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).
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Performance Table Heading | rr_PerformanceTableHeading | Average Annual Total Returns (for the periods ended December 31, 2020) | ||||||
Performance Table Uses Highest Federal Rate | rr_PerformanceTableUsesHighestFederalRate | 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. | ||||||
Performance Table Not Relevant to Tax Deferred | rr_PerformanceTableNotRelevantToTaxDeferred | 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”). | ||||||
Performance Table Explanation after Tax Higher | rr_PerformanceTableExplanationAfterTaxHigher | 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. | ||||||
iShares MSCI Emerging Markets Multifactor ETF | iShares MSCI Emerging Markets Multifactor ETF | ||||||||
Risk/Return: | rr_RiskReturnAbstract | |||||||
Management Fees | rr_ManagementFeesOverAssets | 0.45% | ||||||
Distribution and Service (12b-1) Fees | rr_DistributionAndService12b1FeesOverAssets | none | ||||||
Other Expenses | rr_OtherExpensesOverAssets | none | [1] | |||||
Acquired Fund Fees and Expenses | rr_AcquiredFundFeesAndExpensesOverAssets | none | [1] | |||||
Total Annual Fund Operating Expenses | rr_ExpensesOverAssets | 0.45% | ||||||
Fee Waiver | rr_FeeWaiverOrReimbursementOverAssets | none | [1] | |||||
Total Annual Fund Operating Expenses After Fee Waiver | rr_NetExpensesOverAssets | 0.45% | ||||||
1 Year | rr_ExpenseExampleYear01 | $ 46 | ||||||
3 Years | rr_ExpenseExampleYear03 | 144 | ||||||
5 Years | rr_ExpenseExampleYear05 | 252 | ||||||
10 Years | rr_ExpenseExampleYear10 | $ 567 | ||||||
2016 | rr_AnnualReturn2016 | 9.22% | ||||||
2017 | rr_AnnualReturn2017 | 40.42% | ||||||
2018 | rr_AnnualReturn2018 | (18.64%) | ||||||
2019 | rr_AnnualReturn2019 | 19.55% | ||||||
2020 | rr_AnnualReturn2020 | 10.68% | [2] | |||||
Year to Date Return, Label | rr_YearToDateReturnLabel | The Fund’s year-to-date return | ||||||
Bar Chart, Year to Date Return, Date | rr_BarChartYearToDateReturnDate | Sep. 30, 2021 | ||||||
Bar Chart, Year to Date Return | rr_BarChartYearToDateReturn | 5.77% | ||||||
Highest Quarterly Return, Label | rr_HighestQuarterlyReturnLabel | best | ||||||
Highest Quarterly Return, Date | rr_BarChartHighestQuarterlyReturnDate | Jun. 30, 2020 | ||||||
Highest Quarterly Return | rr_BarChartHighestQuarterlyReturn | 16.16% | ||||||
Lowest Quarterly Return, Label | rr_LowestQuarterlyReturnLabel | worst | ||||||
Lowest Quarterly Return, Date | rr_BarChartLowestQuarterlyReturnDate | Mar. 31, 2020 | ||||||
Lowest Quarterly Return | rr_BarChartLowestQuarterlyReturn | (24.27%) | ||||||
One Year | rr_AverageAnnualReturnYear01 | 10.68% | ||||||
Five Years | rr_AverageAnnualReturnYear05 | 10.55% | ||||||
Since Fund Inception | rr_AverageAnnualReturnSinceInception | 10.16% | ||||||
Inception Date | rr_AverageAnnualReturnInceptionDate | Dec. 08, 2015 | ||||||
iShares MSCI Emerging Markets Multifactor ETF | Return After Taxes on Distributions | iShares MSCI Emerging Markets Multifactor ETF | ||||||||
Risk/Return: | rr_RiskReturnAbstract | |||||||
One Year | rr_AverageAnnualReturnYear01 | 10.14% | [3] | |||||
Five Years | rr_AverageAnnualReturnYear05 | 9.95% | [3] | |||||
Since Fund Inception | rr_AverageAnnualReturnSinceInception | 9.57% | [3] | |||||
iShares MSCI Emerging Markets Multifactor ETF | Return After Taxes on Distributions and Sale of Fund Shares | iShares MSCI Emerging Markets Multifactor ETF | ||||||||
Risk/Return: | rr_RiskReturnAbstract | |||||||
One Year | rr_AverageAnnualReturnYear01 | 6.68% | [3] | |||||
Five Years | rr_AverageAnnualReturnYear05 | 8.30% | [3] | |||||
Since Fund Inception | rr_AverageAnnualReturnSinceInception | 7.99% | [3] | |||||
iShares MSCI Emerging Markets Multifactor ETF | MSCI Emerging Markets Diversified Multiple-Factor Index (Index returns do not reflect deductions for fees, expenses or taxes) | ||||||||
Risk/Return: | rr_RiskReturnAbstract | |||||||
One Year | rr_AverageAnnualReturnYear01 | 11.75% | ||||||
Five Years | rr_AverageAnnualReturnYear05 | 10.97% | ||||||
Since Fund Inception | rr_AverageAnnualReturnSinceInception | 10.56% | ||||||
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