iShares®
iShares, Inc.
iShares Trust
iShares U.S. ETF Trust
Supplement dated May 24, 2024 (the Supplement) to the
currently effective Statement of Additional Information (SAI)
for each fund listed below (each, a Fund)
The information in this Supplement updates information in, and should be read in conjunction with, each Funds SAI.
The following changes are expected to take place on or around May 28, 2024, except as otherwise noted.
1) | For each Fund listed in Appendix A: |
a. | The section of the Funds SAI entitled Issuance of a Creation Unit is revised to state that Creation Units of the Fund are generally issued on a T+1 basis (i.e., one Business Day after trade date). |
b. | The section of the Funds SAI entitled Placement of Redemption Orders is revised to state that deliveries of redemption proceeds by the Fund are generally made within one Business Day (i.e., T+1). |
2) | For each Fund listed in Appendix B: |
a. | The section of the Funds SAI entitled Issuance of a Creation Unit is revised to state that Creation Units of the Fund are generally issued on a T+2 basis (i.e., two Business Days after trade date). |
b. | The section of the Funds SAI entitled Placement of Redemption Orders is revised to state that deliveries of redemption proceeds by the Fund are generally made within two Business Days (i.e., T+2). |
3) | For the iShares Short Treasury Bond ETF and the iShares 0-3 Month Treasury Bond ETF: |
a. | In the section of the Funds SAI entitled Creation and Redemption of Creation Units, the sub-sections entitled Purchase Orders and Timing of Submission of Purchase Orders are deleted in their entirety and replaced with the following: |
Purchase Orders and Submission Timing. An order to purchase shares of a Fund will be implemented as of the NAV next determined after the Authorized Participant has tendered the order, as described in the handbook for Authorized Participants. To initiate an order for a Creation Unit, an Authorized Participant must submit to the Distributor or its agent an irrevocable order to purchase shares of a Fund that is in proper form (pursuant to procedures set forth in the Authorized Participant Agreement) by the Funds submission deadline, known as the Cutoff Time. Generally, an order must be submitted before 4:00 p.m., Eastern time on any Business Day to receive that days NAV. For the iShares 0-3 Month Treasury Bond ETF and iShares Short Treasury Bond ETF, an order must be tendered before 12:00 p.m., Eastern time to receive the 12:00 p.m. NAV and before 4:00 p.m., Eastern time to receive the 4:00 p.m. NAV. There may be a different Cutoff Time for a Fund if a creation order will settle on a non-standard settlement basis, as described in the handbook for Authorized Participants.
The Distributor or its agent will notify BFA and the custodian of a purchase order. The custodian will then provide such information to any appropriate sub-custodian. Procedures and requirements governing the delivery of the Fund Deposit are set forth in the handbook for Authorized Participants and may change from time to time. Investors, other than Authorized Participants, are responsible
for making arrangements for a creation request to be made through an Authorized Participant. The Distributor or its agent will provide a list of current Authorized Participants upon request. Those placing orders to purchase Creation Units through an Authorized Participant should allow sufficient time to permit proper submission of the purchase order to the Distributor or its agent by the Cutoff Time on such Business Day.
The Authorized Participant must also make available on or before the contractual settlement date, by means satisfactory to the Funds, immediately available or same day funds estimated by the Funds to be sufficient to pay the Cash Component next determined after acceptance of the purchase order, together with the applicable purchase transaction fees. Those placing orders should ascertain the applicable deadline for cash transfers by contacting the operations department of the broker or depositary institution effectuating the transfer of the Cash Component. This deadline is likely to be significantly earlier than the Cutoff Time of a Fund. Investors should be aware that an Authorized Participant may require orders for purchases of shares placed with it to be in the particular form required by the individual Authorized Participant. The Authorized Participant is responsible for any and all expenses and costs incurred by a Fund, including any applicable cash amounts, in connection with any purchase order.
Various issues, including economic or market disruptions and communications or other operational failures, may impede the ability to reach the Distributor or its agent or an Authorized Participant. The Distributor or its agent, in their discretion, may permit the submission of such orders and requests by or through an Authorized Participant at any time (including on days on which the Listing Exchange is not open for business) via communication through the facilities of the Distributors or its agents proprietary website maintained for this purpose. Purchase orders and redemption requests, if accepted by the Trust, will be processed based on the NAV next determined after such acceptance in accordance with a Funds Cutoff Time as provided in the Authorized Participant Agreement and disclosed in this SAI.
b. | In the section of the Funds SAI entitled Creation and Redemption of Creation Units, the first and sixth paragraphs of the sub-section entitled Placement of Redemption Orders are deleted in their entirety and replaced with the following: |
Placement of Redemption Orders.
An order to redeem shares of a Fund will be implemented as of the NAV next determined after the Authorized Participant has tendered the order, as described in the handbook for Authorized Participants. To initiate a redemption order, an Authorized Participant must submit to the Distributor or its agent an irrevocable order to redeem shares of a Fund that is in proper form (pursuant to procedures set forth in the Authorized Participant Agreement) by the Cutoff Time. Generally, an order must be submitted before 4:00 p.m., Eastern time on any Business Day to receive that days NAV. For the iShares 0-3 Month Treasury Bond ETF and iShares Short Treasury Bond ETF, an order must be tendered before 12:00 p.m., Eastern time to receive the 12:00 p.m. NAV and before 4:00 p.m., Eastern time to receive the 4:00 p.m. NAV. There may be a different Cutoff Time for a Fund if a redemption order will settle on a non-standard settlement basis, as described in the handbook for Authorized Participants. In addition, on days when the Listing Exchange closes earlier than normal, a Fund may require orders to redeem Creation Units to be placed earlier that day. Investors that are not Authorized Participants are responsible for making arrangements for a redemption request to be made through an Authorized Participant. The Distributor or its agent will provide a list of current Authorized Participants upon request.
[ . . . ]
Deliveries of redemption proceeds by each Fund generally are made within one Business Day (i.e., T+1). However, for the iShares 0-3 Month Treasury Bond ETF and iShares Short Treasury Bond ETF, a redemption order that is tendered before 12:00 p.m., Eastern time generally will settle on a T+0 basis (i.e., on trade date). Each Fund reserves the right to settle redemption transactions on a different basis, if necessary or appropriate under the circumstances and compliant with applicable law.
4) | For the iShares India 50 ETF, iShares MSCI India ETF and iShares MSCI India Small-Cap ETF, effective immediately: |
a. | The section of the Funds SAI entitled Issuance of a Creation Unit is revised to state that Creation Units of the Fund are generally issued on a T+1 basis (i.e., one Business Day after trade date). |
b. | The section of the Funds SAI entitled Placement of Redemption Orders is revised to state that deliveries of redemption proceeds by the Fund are generally made within two Business Days (i.e., T+2). |
Appendix A
BlackRock Short Duration Bond ETF
BlackRock Short Maturity Municipal Bond ETF
BlackRock Ultra Short-Term Bond ETF
iShares 0-5 Year High Yield Corporate Bond ETF
iShares 0-5 Year Investment Grade Corporate Bond ETF
iShares 10+ Year Investment Grade Corporate Bond ETF
iShares 10-20 Year Treasury Bond ETF
iShares 1-3 Year Treasury Bond ETF
iShares 1-5 Year Investment Grade Corporate Bond ETF
iShares 20+ Year Treasury Bond BuyWrite Strategy ET
iShares 20+ Year Treasury Bond ETF
iShares 25+ Year Treasury STRIPS Bond ETF
iShares 3-7 Year Treasury Bond ETF
iShares 5-10 Year Investment Grade Corporate Bond ETF
iShares 7-10 Year Treasury Bond ETF
iShares Aaa - A Rated Corporate Bond ETF
iShares Agency Bond ETF
iShares BB Rated Corporate Bond ETF
iShares BBB Rated Corporate Bond ETF
iShares Biotechnology ETF
iShares Blockchain and Tech ETF
iShares Broad USD High Yield Corporate Bond ETF
iShares Broad USD Investment Grade Corporate Bond ETF
iShares California Muni Bond ETF
iShares Climate Conscious and Transition MSCI USA ETF
iShares CMBS ETF
iShares Cohen & Steers REIT ETF
iShares Commodity Curve Carry Strategy ETF
iShares Convertible Bond ETF
iShares Core 10+ Year USD Bond ETF
iShares Core 1-5 Year USD Bond ETF
iShares Core 5-10 Year USD Bond ETF
iShares Core Aggressive Allocation ETF
iShares Core Conservative Allocation ETF
iShares Core Dividend ETF
iShares Core Dividend Growth ETF
iShares Core Growth Allocation ETF
iShares Core High Dividend ETF
iShares Core Moderate Allocation ETF
iShares Core S&P 500 ETF
iShares Core S&P Mid-Cap ETF
iShares Core S&P Small-Cap ETF
iShares Core S&P Total U.S. Stock Market ETF
iShares Core S&P U.S. Growth ETF
iShares Core S&P U.S. Value ETF
iShares Core Total USD Bond Market ETF
iShares Core U.S. Aggregate Bond ETF
iShares Core U.S. REIT ETF
iShares Currency Hedged MSCI ACWI ex U.S. ETF
iShares Currency Hedged MSCI EAFE ETF
iShares Currency Hedged MSCI EAFE Small-Cap ETF
iShares Currency Hedged MSCI Emerging Markets ETF
iShares Currency Hedged MSCI Eurozone ETF
iShares Currency Hedged MSCI Germany ETF
iShares Currency Hedged MSCI Japan ETF
iShares Dow Jones U.S. ETF
iShares ESG Advanced High Yield Corporate Bond ETF
iShares ESG Advanced Investment Grade Corporate Bond ETF
iShares ESG Advanced MSCI USA ETF
iShares ESG Advanced Total USD Bond Market ETF
iShares ESG Aware 1-5 Year USD Corporate Bond ETF
iShares ESG Aware Aggressive Allocation ETF
iShares ESG Aware Conservative Allocation ETF
iShares ESG Aware Growth Allocation ETF
iShares ESG Aware Moderate Allocation ETF
iShares ESG Aware MSCI USA ETF
iShares ESG Aware MSCI USA Growth ETF
iShares ESG Aware MSCI USA Small-Cap ETF
iShares ESG Aware MSCI USA Value ETF
iShares ESG Aware U.S. Aggregate Bond ETF
iShares ESG Aware USD Corporate Bond ETF
iShares ESG MSCI USA Leaders ETF
iShares ESG MSCI USA Min Vol Factor ETF
iShares ESG Screened S&P 500 ETF
iShares ESG Screened S&P Mid-Cap ETF
iShares ESG Screened S&P Small-Cap ETF
iShares Expanded Tech Sector ETF
iShares Expanded Tech-Software Sector ETF
iShares Factors US Growth Style ETF
iShares Fallen Angels USD Bond ETF
iShares Floating Rate Bond ETF
iShares Focused Value Factor ETF
iShares GNMA Bond ETF
iShares Gold Strategy ETF
iShares Government/Credit Bond ETF
iShares GSCI Commodity Dynamic Roll Strategy ETF
iShares High Yield Corporate Bond BuyWrite Strategy ETF
iShares High Yield Systematic Bond ETF
iShares iBonds 2024 Term High Yield and Income ETF
iShares iBonds 2025 Term High Yield and Income ETF
iShares iBonds 2026 Term High Yield and Income ETF
iShares iBonds 2027 Term High Yield and Income ETF
iShares iBonds 2028 Term High Yield and Income ETF
iShares iBonds 2029 Term High Yield and Income ETF
iShares iBonds 2030 Term High Yield and Income ETF
iShares iBonds 2031 Term High Yield and Income ETF
iShares iBonds Dec 2024 Term Corporate ETF
iShares iBonds Dec 2024 Term Muni Bond ETF
iShares iBonds Dec 2024 Term Treasury ETF
iShares iBonds Dec 2025 Term Corporate ETF
iShares iBonds Dec 2025 Term Muni Bond ETF
iShares iBonds Dec 2025 Term Treasury ETF
iShares iBonds Dec 2026 Term Corporate ETF
iShares iBonds Dec 2026 Term Muni Bond ETF
iShares iBonds Dec 2026 Term Treasury ETF
iShares iBonds Dec 2027 Term Corporate ETF
iShares iBonds Dec 2027 Term Muni Bond ETF
iShares iBonds Dec 2027 Term Treasury ETF
iShares iBonds Dec 2028 Term Corporate ETF
iShares iBonds Dec 2028 Term Muni Bond ETF
iShares iBonds Dec 2028 Term Treasury ETF
iShares iBonds Dec 2029 Term Corporate ETF
iShares iBonds Dec 2029 Term Muni Bond ETF
iShares iBonds Dec 2029 Term Treasury ETF
iShares iBonds Dec 2030 Term Corporate ETF
iShares iBonds Dec 2030 Term Muni Bond ETF
iShares iBonds Dec 2030 Term Treasury ETF
iShares iBonds Dec 2031 Term Corporate ETF
iShares iBonds Dec 2031 Term Treasury ETF
iShares iBonds Dec 2032 Term Corporate ETF
iShares iBonds Dec 2032 Term Treasury ETF
iShares iBonds Dec 2033 Term Corporate ETF
iShares iBonds Dec 2034 Term Corporate ETF
iShares iBonds Dec 2033 Term Treasury ETF
iShares iBonds Oct 2024 Term TIPS ETF
iShares iBonds Oct 2025 Term TIPS ETF
iShares iBonds Oct 2026 Term TIPS ETF
iShares iBonds Oct 2027 Term TIPS ETF
iShares iBonds Oct 2028 Term TIPS ETF
iShares iBonds Oct 2029 Term TIPS ETF
iShares iBonds Oct 2030 Term TIPS ETF
iShares iBonds Oct 2031 Term TIPS ETF
iShares iBonds Oct 2032 Term TIPS ETF
iShares iBonds Oct 2033 Term TIPS ETF
iShares iBonds Oct 2034 Term TIPS ETF
iShares iBoxx $ High Yield Corporate Bond ETF
iShares iBoxx $ Investment Grade Corporate Bond ETF
iShares Inflation Hedged Corporate Bond ETF
iShares Inflation Hedged High Yield Bond ETF
iShares Inflation Hedged U.S. Aggregate Bond ETF
iShares Interest Rate Hedged Corporate Bond ETF
iShares Interest Rate Hedged High Yield Bond ETF
iShares Interest Rate Hedged Long-Term Corporate Bond ETF
iShares Interest Rate Hedged U.S. Aggregate Bond ETF
iShares Intermediate Government/Credit Bond ETF
iShares Investment Grade Corporate Bond BuyWrite Strategy ETF
iShares Investment Grade Systematic Bond ETF
iShares J.P. Morgan Broad USD Emerging Markets Bond ETF
iShares J.P. Morgan EM Corporate Bond ETF
iShares J.P. Morgan EM High Yield Bond ETF
iShares J.P. Morgan USD Emerging Markets Bond ETF
iShares LifePath Retirement ETF
iShares LifePath Target Date 2025 ETF
iShares LifePath Target Date 2030 ETF
iShares LifePath Target Date 2035 ETF
iShares LifePath Target Date 2040 ETF
iShares LifePath Target Date 2045 ETF
iShares LifePath Target Date 2050 ETF
iShares LifePath Target Date 2055 ETF
iShares LifePath Target Date 2060 ETF
iShares LifePath Target Date 2065 ETF
iShares MBS ETF
iShares Micro-Cap ETF
iShares Morningstar Growth ETF
iShares Morningstar Mid-Cap ETF
iShares Morningstar Mid-Cap Growth ETF
iShares Morningstar Mid-Cap Value ETF
iShares Morningstar Multi-Asset Income ETF
iShares Morningstar Small-Cap ETF
iShares Morningstar Small-Cap Growth ETF
iShares Morningstar Small-Cap Value ETF
iShares Morningstar U.S. Equity ETF
iShares Morningstar Value ETF
iShares Mortgage Real Estate ETF
iShares MSCI Canada ETF
iShares MSCI Global Silver and Metals Miners ETF
iShares MSCI KLD 400 Social ETF
iShares MSCI Mexico ETF
iShares MSCI USA Equal Weighted ETF
iShares MSCI USA ESG Select ETF
iShares MSCI USA Min Vol Factor ETF
iShares MSCI USA Momentum Factor ETF
iShares MSCI USA Quality Factor ETF
iShares MSCI USA Size Factor ETF
iShares MSCI USA Small-Cap Min Vol Factor ETF
iShares MSCI USA Value Factor ETF
iShares National Muni Bond ETF
iShares New York Muni Bond ETF
iShares North American Natural Resources ETF
iShares Paris-Aligned Climate MSCI USA ETF
iShares Preferred and Income Securities ETF
iShares Residential and Multisector Real Estate ETF
iShares Russell 1000 ETF
iShares Russell 1000 Growth ETF
iShares Russell 1000 Value ETF
iShares Russell 2000 BuyWrite ETF
iShares Russell 2000 ETF
iShares Russell 2000 Growth ETF
iShares Russell 2000 Value ETF
iShares Russell 2500 ETF
iShares Russell 3000 ETF
iShares Russell Mid-Cap ETF
iShares Russell Mid-Cap Growth ETF
iShares Russell Mid-Cap Value ETF
iShares Russell Top 200 ETF
iShares Russell Top 200 Growth ETF
iShares Russell Top 200 Value ETF
iShares S&P 100 ETF
iShares S&P 500 BuyWrite ETF
iShares S&P 500 Growth ETF
iShares S&P 500 Value ETF
iShares S&P Mid-Cap 400 Growth ETF
iShares S&P Mid-Cap 400 Value ETF
iShares S&P Small-Cap 600 Growth ETF
iShares S&P Small-Cap 600 Value ETF
iShares Select Dividend ETF
iShares Semiconductor ETF
iShares Short-Term National Muni Bond ETF
iShares Transition-Enabling Metals ETF
iShares Treasury Floating Rate Bond ETF
iShares U.S. Aerospace & Defense ETF
iShares U.S. Basic Materials ETF
iShares U.S. Broker-Dealers & Securities Exchanges ETF
iShares U.S. Consumer Discretionary ETF
iShares U.S. Consumer Focused ETF
iShares U.S. Consumer Staples ETF
iShares U.S. Digital Infrastructure and Real Estate ETF
iShares U.S. Energy ETF
iShares U.S. Equity Factor ETF
iShares U.S. Financial Services ETF
iShares U.S. Financials ETF
iShares U.S. Fixed Income Balanced Risk Systematic ETF
iShares U.S. Healthcare ETF
iShares U.S. Healthcare Providers ETF
iShares U.S. Home Construction ETF
iShares U.S. Industrials ETF
iShares U.S. Infrastructure ETF
iShares U.S. Insurance ETF
iShares U.S. Medical Devices ETF
iShares U.S. Oil & Gas Exploration & Production ETF
iShares U.S. Oil Equipment & Services ETF
iShares U.S. Pharmaceuticals ETF
iShares U.S. Real Estate ETF
iShares U.S. Regional Banks ETF
iShares U.S. Small-Cap Equity Factor ETF
iShares U.S. Tech Breakthrough Multisector ETF
iShares U.S. Tech Independence Focused ETF
iShares U.S. Technology ETF
iShares U.S. Telecommunications ETF
iShares U.S. Transportation ETF
iShares U.S. Treasury Bond ETF
iShares U.S. Utilities ETF
iShares US & Intl High Yield Corp Bond ETF
iShares US Small Cap Value Factor ETF
iShares USD Green Bond ETF
iShares USD Systematic Bond ETF
iShares Yield Optimized Bond ETF
Appendix B
iShares 1-3 Year International Treasury Bond ETF
iShares Core MSCI Emerging Markets ETF
iShares Emerging Markets Dividend ETF
iShares Emerging Markets Equity Factor ETF
iShares ESG Aware MSCI EM ETF
iShares International Treasury Bond ETF
iShares MSCI Emerging Markets ETF
iShares MSCI Emerging Markets ex China ETF
iShares MSCI World ETF
If you have any questions, please call 1-800-iShares (1-800-474-2737).
iShares® is a registered trademark of BlackRock Fund Advisors and its affiliates.
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