Fund Description: iShares ESG Aware Conservative Allocation ETF is an exchange-traded index fund or Index ETF which is a separate investment portfolio of the iShares Trust an open-end investment management company. INVESTMENT OBJECTIVE: The iShares ESG Aware Conservative Allocation ETF seeks to provide investment returns that closely correspond to the price and yield performance of the BlackRock ESG Aware Conservative Allocation Index. INDEX DESCRIPTION: The BlackRock ESG Aware Conservative Allocation Index is composed of a portfolio of ESG-oriented equity and fixed income Underlying Funds and measures the performance of BlackRock Index Services, LLC’s (the “Index Provider” ) fixed allocation strategy that is intended to represent a “conservative” risk profile with a 70% allocation to fixed income and a 30% allocation to equities. At each rebalance, the Index will include a fixed allocation of 30% of its assets in Underlying Funds that invest primarily in equity securities and 70% of its assets in Underlying Funds that invest primarily in U.S. dollar-denominated investment-grade bonds. FUND STRATEGY: A passive or indexing approach is used 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. Representative sampling is an indexing strategy that is used which involves investing in a representative sample of securities that collectively has an investment profile similar to that of an applicable 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, duration, maturity, credit ratings and yield) and liquidity measures similar to those of the index. The Fund may or may not hold all of the securities in the Index. The Fund generally will invest at least 80% of its assets in the component securities of the Index and may invest up to 20% of its assets in certain index futures, options, options on index futures, swap contracts or other derivatives, as related to its Index and its component securities, cash and cash equivalents, other investment companies, 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).. FUND MANAGEMENT: BlackRock Fund Advisors (BFA) serves as the investment adviser to the Fund.