Fund Description: iShares U.S. Broker-Dealers ETF, formerly iShares Dow Jones U.S. Broker-Dealers Index Fund, 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 U.S. Broker-Dealers ETF seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the Dow Jones U.S. Select Investment Services Index. INDEX DESCRIPTION: The Dow Jones U.S. Select Investment Services Index measures the performance of the investment services sector of the U.S. equity market. The Index includes companies providing a range of specialized financial services, including securities brokers and dealers, online brokers and securities or commodities exchanges. The Index may include large-, mid- or small-capitalization companies, and components primarily include financial companies. The components of the Index, and the degree to which these components represent certain industries, may change over time. FUND STRATEGY: The Fund uses a passive or indexing approach to try to achieve the Fund’s investment objective. The Fund does not try to beat the Index it tracks and does not seek temporary defensive positions when markets decline or appear overvalued. The Fund generally invests at least 90% of its assets in securities of the Index and in depositary receipts representing securities of the Index. A Fund may invest the remainder of its assets in securities not included in its Index, but which the Advisor believes will help the Fund track its Index. The Fund also may invest its other assets in futures contracts, options on futures contracts, options, and swaps related to its Index, as well as cash and cash equivalents, including shares of money market funds. The Advisor uses a representative sampling indexing strategy to manage the Fund. Representative sampling is an indexing strategy that 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. The Fund may or may not hold all of the securities in the Index. The Fund will concentrate its investments in a particular industry or group of industries to approximately the same extent as the Index is so concentrated. FUND MANAGEMENT: BlackRock Fund Advisors (BFA) serve as the investment advisor to the Fund.