![]() |
|
![]() |
2022 Prospectus |
• | iShares Core MSCI Emerging Markets ETF | IEMG | NYSE ARCA |
Ticker: IEMG | Stock Exchange: NYSE Arca |
(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 |
Acquired
Fund Fees and Expenses2 |
Total
Annual Fund Operating Expenses |
Fee Waiver2 | Total
Annual Fund Operating Expenses After Fee Waiver | ||||||
( |
1 | |
2 |
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 IMI (Index returns do not reflect deductions for fees, expenses or taxes) | - |
1 |
■ | 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. |
■ | 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. |
■ | An FPI who has not availed itself of any benefit under a tax treaty and has made investment in accordance with the Securities and Exchange Board of India (Foreign Portfolio Investors) Regulations, 2019; |
■ | An investment made by a non-resident, directly or indirectly, in an FPI; and |
■ | 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. |
■ | Dividend: Dividend income earned by the Fund will be subject to Indian income-tax at the specified tax rate of 20%1, under the IT Act. The applicable tax is withheld by the dividend-paying issuer at the time of payment. The Fund being a resident of USA, may claim the benefit of the India-USA Double Taxation Avoidance Agreement (“DTAA”), which provides a beneficial rate of 15%, subject to the Fund holding at least 10% of the share capital carrying voting power of the Indian company distributing dividend. |
1 | All tax rates mentioned in this Indian Tax Disclosure section are exclusive of the applicable surcharge and health and education cess, unless otherwise specified. |
■ | Interest: Interest paid to the Fund with respect to debt obligations of Indian issuers will be subject to Indian income tax. A 5% tax rate applies to certain types of interest paid to a nonresident: |
■ | Securities Transaction Tax: All transactions entered on a recognized stock exchange in India are subject to a Securities Transaction Tax (“STT”). STT has been introduced under Section 98 of the Finance (No.2) Act, 2004 on transactions relating to sale, purchases and redemption of shares made by purchasers or sellers of Indian securities. The current STT is levied on the transaction value as follows: |
■ | 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; |
■ | 0.025% on the value of transactions of non-delivery-based sale of an equity share in an Indian company, entered in a recognized stock exchange and payable by the seller; |
■ | 0.05% on the value of transactions of sale of options, entered in a recognized stock exchange and payable by the seller; |
■ | 0.01% on the value of transactions of sale of futures, entered in a recognized stock exchange and payable by the seller; |
■ | 0.125% on the value of transactions of sale of options where the option is exercised, entered in a recognized stock exchange and payable by the buyer; and |
■ | 0.2% on the value of transactions of the sale of unlisted shares by existing shareholders in an initial public offer. |
■ | Capital Gains: The taxation of capital gains is as follows. Long-term capital gains (i.e., gains on the sale of shares held for more than 12 months) from the sale of equity shares of an Indian company listed on a recognized stock exchange are taxable in India at a rate of 10% provided any applicable STT has been paid, both on acquisition and sale of such shares (subject to certain transactions, to which the provisions of applicability and payment of STT upon acquisition do not apply). The tax on these capital gains is calculated on gains exceeding INR 100,000 (without any indexation and foreign exchange fluctuation benefits). Long term capital gains arising from sale of listed shares, not executed on a recognized stock exchange, will be taxed at a rate of 10%. |
iShares Core MSCI Emerging Markets ETF (Consolidated) | |||||||||
Year
Ended 08/31/22 |
Year
Ended 08/31/21 |
Year
Ended 08/31/20 |
Year
Ended 08/31/19 |
Year
Ended 08/31/18 | |||||
Net asset value, beginning of year | $64.18 | $53.34 | $48.31 | $52.27 | $53.91 | ||||
Net investment income(a) | 1.67 | 1.33 | 1.46 | 1.40 | 1.39 | ||||
Net realized and unrealized gain (loss)(b) | (15.13) | 10.70 | 5.21 | (4.01) | (1.61) | ||||
Net increase (decrease) from investment operations | (13.46) | 12.03 | 6.67 | (2.61) | (0.22) | ||||
Distributions from net investment income(c) | (1.97) | (1.19) | (1.64) | (1.35) | (1.42) | ||||
Net asset value, end of year | $48.75 | $64.18 | $53.34 | $48.31 | $52.27 | ||||
Total Return(d) | |||||||||
Based on net asset value | (21.40)% | 22.67% | 13.97% | (4.93)%(e) | (0.52)% | ||||
Ratios to Average Net Assets(f) | |||||||||
Total expenses | 0.10% | 0.12% | 0.14% | 0.14% | 0.14% | ||||
Total expenses after fees waived | 0.10% | 0.12% | 0.14% | 0.14% | 0.14% | ||||
Total expenses excluding professional fees for foreign withholding tax claims | 0.10% | 0.11% | 0.14% | 0.14% | N/A | ||||
Net investment income | 2.97% | 2.12% | 2.97% | 2.79% | 2.48% | ||||
Supplemental Data | |||||||||
Net assets, end of year (000) | $65,232,083 | $80,599,322 | $54,628,381 | $53,020,298 | $49,079,726 | ||||
Portfolio turnover rate(g) | 7% | 9% | 15% | 15% | 6% | ||||
(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)
Reflects the one-time, positive effect of foreign withholding tax claims,
net of the associated professional fees, which resulted in the following
increases for the year ended August 31, 2019: ● Total return by 0.01%. | |||||||||
(f) Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | |||||||||
(g) 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: | iSharesETFs@blackrock.com |
Write: | c/o
BlackRock Investments, LLC 1 University Square Drive, Princeton, NJ 08540 |