Fund Description: iShares Global High Yield Corporate Bond ETF is an exchange-traded index fund or Index ETF which is a separate investment portfolio of the iShares Inc., an open-end investment management company. INVESTMENT OBJECTIVE: The iShares Global High Yield Corporate Bond ETF seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the Markit iBoxx Global Developed Markets High Yield Index. INDEX DESCRIPTION: The Markit iBoxx Global Developed Markets High Yield Index is a rules-based index consisting of high yield corporate bonds denominated in U.S. dollars, euros, British pounds sterling and Canadian dollars. The Index is designed to provide a broad representation of the global high yield corporate bond market. High yield bonds are also known as junk bonds. The Index may include corporate bonds that are issued by companies domiciled in countries classified as developed markets by the index provider. The Index is a market value weighted index with a cap on each issuer of 3%. There is no limit to the number of issues in the Index. Components primarily include consumer services, financial and industrials companies. The components of the Index, and the degree to which these components represent certain industries, may change over time. It is expected that the Index, under normal market conditions, will include a significant percentage of issuers (generally, at least 40%) organized or located outside the United States or doing business outside the United States. 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 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. A Fund may or may not hold all of the securities in the Index. The Fund generally invests at least 80% of its assets in the securities of the Index and in investments that provide substantially similar exposure to the securities in the Index. The Fund may at times invest up to 20% of its assets in certain futures, options and swap contracts, cash and cash equivalents, including money market funds advised by BFA or its affiliates, as well as in bonds not included in the Index, but which BFA believes will help the Fund track the Index. 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: The Fund’s investment adviser is BlackRock Fund Advisors (BFA). The Fund’s sub-adviser is BlackRock International Limited.