Fund Description: iShares MSCI EAFE Value ETF, formerly iShares MSCI EAFE Value Index Fund is an exchange-traded index fund or Index ETF which is a separate investment portfolio of iShares Trust, an open-end investment management company. INVESTMENT OBJECTIVE: The iShares MSCI EAFE Value ETF seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the MSCI EAFE Value Index. INDEX DESCRIPTION: The MSCI EAFE Value Index is a subset of the MSCI EAFE Index and constituents of the Index include securities from Europe, Australasia (Australia and Asia), and the Far East. The Index generally represents approximately 50% of the free float-adjusted market capitalization of the underlying MSCI EAFE Index and consists of those securities classified by MSCI as most representing the value style. Securities classified as value style generally tend to have higher book value to price ratios, higher forward earnings to price ratios, higher dividend yields and lower forecasted growth rates than securities representing the growth style. MSCI uses a specialized framework to attribute both value and growth style characteristics to each security within the MSCI EAFE Index. Each security is evaluated based on certain value factors and growth factors, which are then used to calculate a value score and growth score. Based upon these two scores, MSCI determines the extent to which each security is assigned to the value or growth style. It is possible for a single security to have representation in both the value and growth style indices, however, no more than 100% of a security’s float-adjusted market capitalization will be included within the combined style framework. The Fund uses a Representative Sampling strategy to try to track the Index. The Fund’s investment objective may be changed without shareholder approval. FUND MANAGEMENT: BlackRock Fund Advisors (BFA) serves as the investment advisor to the Fund