Fund Description: iShares U.S. Regional Banks ETF, formerly iShares Dow Jones U.S. Regional Banks 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. Regional Banks ETF seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the Dow Jones U.S. Select Regional Banks Index. INDEX DESCRIPTION: The Dow Jones U.S. Select Regional Banks Index measures the performance of the regional bank sector of the U.S. equity market. The Index is a subset of the Dow Jones U.S. Bank Index. Small and mid-size banks are selected for inclusion based on their relative three-year average total assets as a percentage of the three-year average total assets held by all banks in the Dow Jones U.S. Bank Index, as determined by Dow Jones. 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 affiliated with the Advisor. 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. 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 serves as the investment advisor to the Fund.