Fund Description: iShares MSCI EAFE ESG Select ETF 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 ESG Select ETF seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the MSCI EAFE ESG Select Index. INDEX DESCRIPTION: The MSCI EAFE ESG Select Index is an optimized equity index designed to reflect the equity performance of companies that have positive environmental, social and governance (ESG) characteristics (as determined by MSCI Inc., the Index Provider), which exhibit risk and return characteristics similar to the MSCI Market Cap Weighted Index (the MSCI EAFE Index or the Parent Index). The Index Provider begins with the Parent Index, excludes securities of companies involved in the business of tobacco and controversial weapons companies, as well as securities of companies involved in very severe business controversies and then follows a quantitative process that is designed to determine optimal weights for securities to maximize exposure to securities of companies with higher ESG ratings, subject to maintaining risk and return characteristics similar to the Parent Index. The Index Provider then identifies key ESG issues and calculates the size of each company’s exposure to each key issue based on the company’s business segment and geographic risk and analyzes the extent to which companies have developed robust strategies and programs to manage ESG risks and opportunities. Then companies are rated and ranked in comparison to their industry peers. The Index consists of the developed market countries or regions in: Australia, Austria, Belgium, Denmark, Finland, France, Germany, Hong Kong, Ireland, Israel, Italy, Japan, the Netherlands, New Zealand, Norway, Portugal, Singapore, Spain, Sweden, Switzerland and the United Kingdom. The Index may include large- or mid-capitalization companies. Components of the Index primarily include consumer discretionary, financials and industrials companies but may change over time. 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 and does not seek temporary defensive positions when markets decline or appear overvalued. Indexing may eliminate the chance that the Fund will substantially outperform its Index but also may reduce some of the risks of active management, such as poor security selection. Indexing seeks to achieve lower costs and better after-tax performance by keeping portfolio turnover low in comparison to actively managed investment companies. 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 the 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 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 90% of its assets in the component securities of the Index and in investments that have economic characteristics that are substantially identical to the component securities of the Index (i.e., depositary receipts representing securities of the Index) and may invest up to 10% of its assets in certain futures, options and swap contracts, cash and cash equivalents, including shares of money market funds as well as in securities not included in the Index, but which the adviser believes will help the Fund track the Index. FUND MANAGEMENT: BlackRock Fund Advisors (BFA) serves as the investment advisor to the Fund.