Fund Description: iShares Russell 2500 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 Russell 2500 ETF seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the Russell 2500 Index. INDEX DESCRIPTION: The Russell 2500 Index measures the performance of the small- to mid-capitalization sector of the U.S. equity market, as defined by FTSE Russell (the Index Provider). The Index includes issuers representing approximately 19% of the total market capitalization of all publicly-traded U.S. equity securities. The Index is a float-adjusted capitalization-weighted index of equity securities issued by approximately 2,500 of the smallest issuers in the Russell 3000 Index. Components primarily include securities of financials, industrials and information technology companies which 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 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. The Fund generally will invest at least 90% of its assets in the component securities, including indirect investments through the Fund, of the Index and may invest up to 10% of its assets in certain futures contracts, options and swaps as well as cash and cash equivalents, including shares of money market funds. 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. FUND MANAGEMENT: BlackRock Fund Advisors (BFA) serves as the investment adviser to the Fund.