July 30, 2021 | |
(as revised October 20, 2021) |
2021 Prospectus |
• | iShares
U.S. Infrastructure ETF | IFRA | CBOE BZX |
(ongoing expenses that you pay each year as a percentage of the value of your investments) 1 | ||||||
Management Fees |
Distribution
and Service (12b-1) Fees |
Other Expenses 2 |
Total
Annual Fund Operating Expenses | |||
1 |
2 |
The amount rounded to 0.00%. |
1 Year |
3 Years |
5 Years |
10 Years | |||
$ |
$ |
$ |
$ |
1 |
One Year |
Since Inception
| ||
(Inception Date:
|
|||
Return Before Taxes | |||
Return
After Taxes on Distributions
1 |
|||
Return
After Taxes on Distributions and Sale of Fund Shares
1 |
|||
NYSE
® FactSet U.S.
Infrastructure Index
TM (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, |
■ |
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. |
iShares U.S.
Infrastructure ETF | |||||
Year Ended 03/31/21 |
Year Ended 03/31/20 |
Period From 04/03/18 (a) to 03/31/19 | |||
Net asset value, beginning
of period |
$ 20.27 | $ 26.31 | $25.31 | ||
Net
investment income
(b) |
0.77 | 0.49 | 0.43 | ||
Net
realized and unrealized gain (loss)
(c) |
14.10 | (6.00) | 1.24 | ||
Net increase (decrease) from investment operations | 14.87 | (5.51) | 1.67 | ||
Distributions
(d) |
|||||
From net investment income | (0.58) | (0.47) | (0.34) | ||
From net realized gain | — | — | (0.33) | ||
Return of capital | — | (0.06) | (0.00)
(e) | ||
Total distributions | (0.58) | (0.53) | (0.67) | ||
Net asset value, end of
period |
$ 34.56 | $ 20.27 | $ 26.31 | ||
Total Return |
|||||
Based on net asset value | 74.11% | (21.26)% | 6.78%
(f) | ||
Ratios to Average Net
Assets |
|||||
Total expenses | 0.40% | 0.40% | 0.40%
(g) | ||
Net investment income | 2.54% | 1.84% | 1.67%
(g) | ||
Supplemental Data
|
|||||
Net assets, end of period (000) | $369,805 | $ 5,068 | $ 5,262 | ||
Portfolio
turnover rate
(h) |
65% | 23% | 43%
(f) | ||
(a) Commencement
of operations. | |||||
(b) Based
on average shares outstanding. | |||||
(c) 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. | |||||
(d) Distributions
for annual periods determined in accordance with U.S. federal income tax
regulations. | |||||
(e) Rounds
to less than $0.01. | |||||
(f) Not
annualized. | |||||
(g) Annualized.
| |||||
(h) Portfolio
turnover rate excludes in-kind transactions.
|
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: | [email protected] |
Write: | c/o
BlackRock Investments, LLC 1 University Square Drive, Princeton, NJ 08540 |