Fund Description: iShares MSCI Global Impact ETF, formerly iShares Sustainable MSCI Global Impact ETF, 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 MSCI Global Impact ETF seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the MSCI ACWI Sustainable Impact Index, formerly S&P Short Term National AMT-Free Municipal Bond Index. INDEX DESCRIPTION: The MSCI ACWI Sustainable Impact Index is composed exclusively of companies whose core business addresses at least one of the world’s major social and environmental challenges, as defined by the United Nations Sustainable Development Goals (UN SDGs). Examples of sustainable impact categories within the UN SDGs include nutritious food, treatment of major diseases, sanitary products, education, affordable housing, energy efficiency, green building, sustainable water, and pollution prevention. To be eligible for inclusion in the Index, companies must generate at least 50% of their annual sales from one or more of the sustainable impact categories and maintain minimum environmental, social and governance (ESG) standards. The Index consisted of companies in the following countries or regions: Australia, Austria, Belgium, Brazil, China, Denmark, France, Hong Kong, India, Indonesia, Italy, Japan, Mexico, the Philippines, Singapore, South Africa, South Korea, Sweden, Switzerland, Taiwan, the United Kingdom and the United States which may change over time. The Index includes large-, mid-, and small capitalization companies. Components of the Index primarily include consumer staples, healthcare and industrials companies. The components of the Index, and the degree to which these components represent certain industries, are likely to 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 it tracks and does not seek temporary defensive positions when markets decline or appear overvalued. Indexing may eliminate the chance that the Fund will substantially outperform the 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. 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. 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. FUND MANAGEMENT: BlackRock Fund Advisors (BFA) serves as the investment adviser to the Fund.