Fund Description: iShares Edge U.S. Fixed Income Balanced Risk ETF, formerly iShares U.S. Fixed Income Balanced Risk ETF, is an actively managed exchange-traded fund or Actively Managed ETF which is a separate investment portfolio of the iShares U.S. ETF Trust, an open-end investment management company. INVESTMENT OBJECTIVE: The iShares Edge U.S. Fixed Income Balanced Risk ETF seeks total return and preservation of capital. The Fund is an actively managed exchange-traded fund (ETF) and thus does not seek to replicate the performance of a specified index. FUND STRATEGY: The Fund seeks to achieve its investment objective by investing, under normal circumstances, at least 80% of its net assets in U.S. dollar denominated investment-grade and high-yield fixed-income securities. The Fund primarily invests in fixed-rate securities of varying maturities, such as corporate bonds, including U.S. dollar-denominated securities of foreign issuers, U.S. Treasuries, privately-issued securities, and mortgage-backed securities. The Fund may enter into to-be-announced transactions (TBA transactions) on a regular basis with respect to the percentage of the portfolio (if any) that consists of mortgage-pass through securities. The Fund may also invest in other exchange-traded funds (ETFs) (including other iShares funds), short-term paper, cash and cash equivalents, including shares of money market funds. The Fund may invest, without limitation, in high-yield securities rated CCC or higher by Moody’s, or S&P’s Ratings Services or Fitch, Inc., or, if unrated, to be of comparable quality (commonly known to investors as junk bonds). The Fund seeks to balance interest rate and credit spread risk by investing in a portfolio of fixed-income securities that in the aggregate has approximately equal exposure to credit spread risk and interest rate risk, which are measured by the advisor as the volatility of returns of a security associated with changes in the security's credit spread or changes in interest rates. The Fund will adjust the allocation among its securities in an effort to achieve a target credit spread risk and interest rate risk for the Fund’s portfolio. When necessary to balance the Fund’s exposure to interest rate risk against its exposure to credit spread risk, the Fund may take short or long positions in U.S. Treasury futures and short positions in U.S. Treasury securities through transactions in interest rate swaps. The Fund may also invest in other interest rate futures contracts, including but not limited to, Eurodollar and Federal Funds futures. The Fund’s short positions in U.S. Treasury futures are not intended to mitigate credit spread risk or other factors influencing the price of non-government bonds, which may have a greater impact than interest rates. The Fund may lend securities representing up to one-third of the value of the Fund's total assets (including the value of the collateral received). FUND MANAGEMENT: BlackRock Fund Advisors (BFA) serves as the investment adviser to the Fund.