Fund Description: iShares Exponential Technologies 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 Exponential Technologies ETF seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the Morningstar Exponential Technologies Index. INDEX DESCRIPTION: The Morningstar Exponential Technologies Index measures the performance of equity securities issued by companies that the Equity Research team of Morningstar, Inc. (the Index Provider), has determined are involved with the creation of groundbreaking technologies and/or that are users that apply such technologies within their businesses. Exponential technologies displace older technologies, create new markets and have the potential to effect significant economic impacts. The Index is a subset of the Morningstar US Market Index and the Morningstar Global Markets ex-US Index family (the Parent Indexes). The eligible universe of securities in the Index must be in the Morningstar Global Equity Index family and covered by Morningstar’s Equity Research analysts. The Morningstar analysts perform fundamental research in order to score companies within the eligible universe along a three point scale based on exponential technology themes that Morningstar believes have the potential to have significant economic benefits to producers and users. Morningstar has identified nine exponential technology themes: big data and analytics, nanotechnology, medicine and neuroscience, networks and computer systems, energy and environmental systems, robotics, 3-D printing, bioinformatics, and financial services innovation. The themes are reviewed on an annual basis and may change over time. Up to five leading companies within each theme are automatically included in the Index, with additional companies added until the Index has 200 constituents. The Index is equal weighted and is reconstituted and rebalanced annually. The Index may include large-, mid- or small-capitalization companies and components primarily include healthcare, industrials, information technology and telecommunications companies. The components may 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. 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 securities of the Index and in depositary receipts representing securities of the Index. The Fund may invest the remainder of its assets in certain futures, options and swap contracts, cash and cash equivalents, including shares of money market funds. 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: BlackRock Fund Advisors (BFA) serves as the investment adviser to the Fund.