This report describes changes to the Fund that occurred during the reporting period.
What were the Fund costs for the last year?
(based on a hypothetical $10,000 investment)
Fund name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
|---|---|---|
iShares ESG Aware 30/70 Conservative Allocation ETF | $ |
| Footnote | Description |
Footnote(a) |
How did the Fund perform last year?
For the reporting period ended July 31, 2025, the Fund returned 6.62%.
For the same period, the Bloomberg U.S. Universal Index returned 4.00% and the MSCI All Country World Index (Net) returned 15.87%.
What contributed to performance?
U.S. equities were the largest contributor to the Fund’s return during the reporting period. In particular, semiconductor stocks gained amid unprecedented demand for artificial intelligence (“AI”) and generative AI, data center expansions, and continued innovation in chips and network solutions. Additionally, systems software firms benefited from strong growth in their respective cloud businesses and increasing adoption of AI technologies. International developed stocks, particularly in Germany, gained amid optimism surrounding a historic fiscal stimulus plan targeting infrastructure and defense spending.
In the fixed-income segment, U.S.-denominated investment-grade bonds also provided a meaningful contribution, especially among financial issuers.
What detracted from performance?
There were no significant detractors from the Fund’s performance during the reporting period.
The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.
Fund performance
Cumulative performance: June 12, 2020 through July 31, 2025
Initial Investment of $10,000
Fund | Bloomberg U.S. Universal Index | MSCI All Country World Index (Net) | BlackRock ESG Aware Conservative Allocation Index | S&P Target Risk Conservative Index | |
|---|---|---|---|---|---|
Jun 20 | $ | $ | $ | $ | $ |
Jul 20 | $ | $ | $ | $ | $ |
Aug 20 | $ | $ | $ | $ | $ |
Sep 20 | $ | $ | $ | $ | $ |
Oct 20 | $ | $ | $ | $ | $ |
Nov 20 | $ | $ | $ | $ | $ |
Dec 20 | $ | $ | $ | $ | $ |
Jan 21 | $ | $ | $ | $ | $ |
Feb 21 | $ | $ | $ | $ | $ |
Mar 21 | $ | $ | $ | $ | $ |
Apr 21 | $ | $ | $ | $ | $ |
May 21 | $ | $ | $ | $ | $ |
Jun 21 | $ | $ | $ | $ | $ |
Jul 21 | $ | $ | $ | $ | $ |
Aug 21 | $ | $ | $ | $ | $ |
Sep 21 | $ | $ | $ | $ | $ |
Oct 21 | $ | $ | $ | $ | $ |
Nov 21 | $ | $ | $ | $ | $ |
Dec 21 | $ | $ | $ | $ | $ |
Jan 22 | $ | $ | $ | $ | $ |
Feb 22 | $ | $ | $ | $ | $ |
Mar 22 | $ | $ | $ | $ | $ |
Apr 22 | $ | $ | $ | $ | $ |
May 22 | $ | $ | $ | $ | $ |
Jun 22 | $ | $ | $ | $ | $ |
Jul 22 | $ | $ | $ | $ | $ |
Aug 22 | $ | $ | $ | $ | $ |
Sep 22 | $ | $ | $ | $ | $ |
Oct 22 | $ | $ | $ | $ | $ |
Nov 22 | $ | $ | $ | $ | $ |
Dec 22 | $ | $ | $ | $ | $ |
Jan 23 | $ | $ | $ | $ | $ |
Feb 23 | $ | $ | $ | $ | $ |
Mar 23 | $ | $ | $ | $ | $ |
Apr 23 | $ | $ | $ | $ | $ |
May 23 | $ | $ | $ | $ | $ |
Jun 23 | $ | $ | $ | $ | $ |
Jul 23 | $ | $ | $ | $ | $ |
Aug 23 | $ | $ | $ | $ | $ |
Sep 23 | $ | $ | $ | $ | $ |
Oct 23 | $ | $ | $ | $ | $ |
Nov 23 | $ | $ | $ | $ | $ |
Dec 23 | $ | $ | $ | $ | $ |
Jan 24 | $ | $ | $ | $ | $ |
Feb 24 | $ | $ | $ | $ | $ |
Mar 24 | $ | $ | $ | $ | $ |
Apr 24 | $ | $ | $ | $ | $ |
May 24 | $ | $ | $ | $ | $ |
Jun 24 | $ | $ | $ | $ | $ |
Jul 24 | $ | $ | $ | $ | $ |
Aug 24 | $ | $ | $ | $ | $ |
Sep 24 | $ | $ | $ | $ | $ |
Oct 24 | $ | $ | $ | $ | $ |
Nov 24 | $ | $ | $ | $ | $ |
Dec 24 | $ | $ | $ | $ | $ |
Jan 25 | $ | $ | $ | $ | $ |
Feb 25 | $ | $ | $ | $ | $ |
Mar 25 | $ | $ | $ | $ | $ |
Apr 25 | $ | $ | $ | $ | $ |
May 25 | $ | $ | $ | $ | $ |
Jun 25 | $ | $ | $ | $ | $ |
Jul 25 | $ | $ | $ | $ | $ |
See “Average annual total returns” for additional information on fund performance.
Average annual total returns
Average Annual Total Returns | 1 Year | 5 Years | Since Fund
Inception |
|---|---|---|---|
Fund NAV........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |||
Bloomberg U.S. Universal Index........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | ( | ( | |
MSCI All Country World Index (Net)........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |||
BlackRock ESG Aware Conservative Allocation Index........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |||
S&P Target Risk Conservative Index........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ |
Key Fund statistics
Net Assets........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | $ |
|---|---|
Number of Portfolio Holdings........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
Net Investment Advisory Fees........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | $ |
Portfolio Turnover Rate........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ |
The Fund will no longer compare its performance to the S&P Target Risk Conservative Index as it added multiple broad-based securities market indexes in response to new regulatory requirements.
The inception date of the Fund was
What did the Fund invest in?
(as of July 31, 2025)
Portfolio composition
All holdings
Asset Class | Percent of Total InvestmentsFootnote Reference(a) |
|---|---|
Domestic Fixed Income........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
Domestic Equity........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
International Equity........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ |
Security | Percent of Total
InvestmentsFootnote Reference(a) |
|---|---|
iShares ESG Aware U.S. Aggregate Bond ETF........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
iShares ESG Aware MSCI USA ETF........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
iShares ESG Aware MSCI EAFE ETF........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
iShares ESG Aware MSCI EM ETF........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
iShares ESG Aware MSCI USA Small-Cap ETF........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ |
| Footnote | Description |
Footnote(a) | Excludes money market funds. |
Material fund changes
This is a summary of certain changes to the Fund since July 31, 2024. For more complete information, you may review the Fund's next prospectus, which we expect to be available approximately 120 days after July 31, 2025 at blackrock.com/fundreports or upon request by contacting us at 1-800-iShares (1-800-474-2737).
Effective February 19, 2025, the name of the Fund was changed from iShares ESG Aware Conservative Allocation ETF to iShares ESG Aware 30/70 Conservative Allocation ETF.
Additional information
If you wish to view additional information about the Fund, including but not limited to financial statements, the Fund’s prospectus, and proxy voting policies and procedures, please visit blackrock.com/fundreports. For proxy voting records, visit blackrock.com/proxyrecords.
Householding
Householding is an option available to certain fund investors. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Please contact your broker-dealer if you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, or if you are currently enrolled in householding and wish to change your householding status.
The Fund is not sponsored, endorsed, issued, sold, or promoted by MSCI Inc., S&P Dow Jones Indices LLC, Bloomberg Index Services Limited or BlackRock Index Services, LLC and its affiliates, nor do these companies make any representation regarding the advisability of investing in the Fund. With the exception of BlackRock Index Services, LLC, who is an affiliate, BlackRock is not affiliated with the companies listed above.
©2025 BlackRock, Inc or its affiliates. All rights reserved. iSHARES and BLACKROCK are registered trademarks of BlackRock, Inc. or its affiliates. All other trademarks are those of their respective owners.
EAOK-07/25-AR
This report describes changes to the Fund that occurred during the reporting period.
What were the Fund costs for the last year?
(based on a hypothetical $10,000 investment)
Fund name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
|---|---|---|
iShares ESG Aware 40/60 Moderate Allocation ETF | $ |
| Footnote | Description |
Footnote(a) |
How did the Fund perform last year?
For the reporting period ended July 31, 2025, the Fund returned 7.74%.
For the same period, the Bloomberg U.S. Universal Index returned 4.00% and the MSCI All Country World Index (Net) returned 15.87%.
What contributed to performance?
U.S. equities were the largest contributor to the Fund’s return during the reporting period. In particular, semiconductor stocks gained amid unprecedented demand for artificial intelligence (“AI”) and generative AI, data center expansions, and continued innovation in chips and network solutions. Additionally, systems software firms benefited from strong growth in their respective cloud businesses and increasing adoption of AI technologies. International developed stocks, particularly in Germany, gained amid optimism surrounding a historic fiscal stimulus plan targeting infrastructure and defense spending.
In the fixed-income segment, U.S.-denominated investment-grade bonds also provided a meaningful contribution, especially among financial issuers.
What detracted from performance?
During the reporting period, there were no meaningful detractors from the Fund’s return.
The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.
Fund performance
Cumulative performance: June 12, 2020 through July 31, 2025
Initial Investment of $10,000
Fund | Bloomberg U.S. Universal Index | MSCI All Country World Index (Net) | BlackRock ESG Aware Moderate Allocation Index | S&P Target Risk Moderate Index | |
|---|---|---|---|---|---|
Jun 20 | $ | $ | $ | $ | $ |
Jul 20 | $ | $ | $ | $ | $ |
Aug 20 | $ | $ | $ | $ | $ |
Sep 20 | $ | $ | $ | $ | $ |
Oct 20 | $ | $ | $ | $ | $ |
Nov 20 | $ | $ | $ | $ | $ |
Dec 20 | $ | $ | $ | $ | $ |
Jan 21 | $ | $ | $ | $ | $ |
Feb 21 | $ | $ | $ | $ | $ |
Mar 21 | $ | $ | $ | $ | $ |
Apr 21 | $ | $ | $ | $ | $ |
May 21 | $ | $ | $ | $ | $ |
Jun 21 | $ | $ | $ | $ | $ |
Jul 21 | $ | $ | $ | $ | $ |
Aug 21 | $ | $ | $ | $ | $ |
Sep 21 | $ | $ | $ | $ | $ |
Oct 21 | $ | $ | $ | $ | $ |
Nov 21 | $ | $ | $ | $ | $ |
Dec 21 | $ | $ | $ | $ | $ |
Jan 22 | $ | $ | $ | $ | $ |
Feb 22 | $ | $ | $ | $ | $ |
Mar 22 | $ | $ | $ | $ | $ |
Apr 22 | $ | $ | $ | $ | $ |
May 22 | $ | $ | $ | $ | $ |
Jun 22 | $ | $ | $ | $ | $ |
Jul 22 | $ | $ | $ | $ | $ |
Aug 22 | $ | $ | $ | $ | $ |
Sep 22 | $ | $ | $ | $ | $ |
Oct 22 | $ | $ | $ | $ | $ |
Nov 22 | $ | $ | $ | $ | $ |
Dec 22 | $ | $ | $ | $ | $ |
Jan 23 | $ | $ | $ | $ | $ |
Feb 23 | $ | $ | $ | $ | $ |
Mar 23 | $ | $ | $ | $ | $ |
Apr 23 | $ | $ | $ | $ | $ |
May 23 | $ | $ | $ | $ | $ |
Jun 23 | $ | $ | $ | $ | $ |
Jul 23 | $ | $ | $ | $ | $ |
Aug 23 | $ | $ | $ | $ | $ |
Sep 23 | $ | $ | $ | $ | $ |
Oct 23 | $ | $ | $ | $ | $ |
Nov 23 | $ | $ | $ | $ | $ |
Dec 23 | $ | $ | $ | $ | $ |
Jan 24 | $ | $ | $ | $ | $ |
Feb 24 | $ | $ | $ | $ | $ |
Mar 24 | $ | $ | $ | $ | $ |
Apr 24 | $ | $ | $ | $ | $ |
May 24 | $ | $ | $ | $ | $ |
Jun 24 | $ | $ | $ | $ | $ |
Jul 24 | $ | $ | $ | $ | $ |
Aug 24 | $ | $ | $ | $ | $ |
Sep 24 | $ | $ | $ | $ | $ |
Oct 24 | $ | $ | $ | $ | $ |
Nov 24 | $ | $ | $ | $ | $ |
Dec 24 | $ | $ | $ | $ | $ |
Jan 25 | $ | $ | $ | $ | $ |
Feb 25 | $ | $ | $ | $ | $ |
Mar 25 | $ | $ | $ | $ | $ |
Apr 25 | $ | $ | $ | $ | $ |
May 25 | $ | $ | $ | $ | $ |
Jun 25 | $ | $ | $ | $ | $ |
Jul 25 | $ | $ | $ | $ | $ |
See “Average annual total returns” for additional information on fund performance.
Average annual total returns
Average Annual Total Returns | 1 Year | 5 Years | Since Fund
Inception |
|---|---|---|---|
Fund NAV........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |||
Bloomberg U.S. Universal Index........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | ( | ( | |
MSCI All Country World Index (Net)........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |||
BlackRock ESG Aware Moderate Allocation Index........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |||
S&P Target Risk Moderate Index........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ |
Key Fund statistics
Net Assets........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | $ |
|---|---|
Number of Portfolio Holdings........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
Net Investment Advisory Fees........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | $ |
Portfolio Turnover Rate........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ |
The Fund will no longer compare its performance to the S&P Target Risk Moderate Index as it added multiple broad-based securities market indexes in response to new regulatory requirements.
The inception date of the Fund was
What did the Fund invest in?
(as of July 31, 2025)
Portfolio composition
All holdings
Asset Class | Percent of Total InvestmentsFootnote Reference(a) |
|---|---|
Domestic Fixed Income........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
Domestic Equity........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
International Equity........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ |
Security | Percent of Total
InvestmentsFootnote Reference(a) |
|---|---|
iShares ESG Aware U.S. Aggregate Bond ETF........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
iShares ESG Aware MSCI USA ETF........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
iShares ESG Aware MSCI EAFE ETF........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
iShares ESG Aware MSCI EM ETF........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
iShares ESG Aware MSCI USA Small-Cap ETF........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ |
| Footnote | Description |
Footnote(a) | Excludes money market funds. |
Material fund changes
This is a summary of certain changes to the Fund since July 31, 2024. For more complete information, you may review the Fund's next prospectus, which we expect to be available approximately 120 days after July 31, 2025 at blackrock.com/fundreports or upon request by contacting us at 1-800-iShares (1-800-474-2737).
Effective February 19, 2025, the name of the Fund was changed from iShares ESG Aware Moderate Allocation ETF to iShares ESG Aware 40/60 Moderate Allocation ETF.
Additional information
If you wish to view additional information about the Fund, including but not limited to financial statements, the Fund’s prospectus, and proxy voting policies and procedures, please visit blackrock.com/fundreports. For proxy voting records, visit blackrock.com/proxyrecords.
Householding
Householding is an option available to certain fund investors. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Please contact your broker-dealer if you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, or if you are currently enrolled in householding and wish to change your householding status.
The Fund is not sponsored, endorsed, issued, sold, or promoted by MSCI Inc., S&P Dow Jones Indices LLC, Bloomberg Index Services Limited or BlackRock Index Services, LLC and its affiliates, nor do these companies make any representation regarding the advisability of investing in the Fund. With the exception of BlackRock Index Services, LLC, who is an affiliate, BlackRock is not affiliated with the companies listed above.
©2025 BlackRock, Inc or its affiliates. All rights reserved. iSHARES and BLACKROCK are registered trademarks of BlackRock, Inc. or its affiliates. All other trademarks are those of their respective owners.
EAOM-07/25-AR
This report describes changes to the Fund that occurred during the reporting period.
What were the Fund costs for the last year?
(based on a hypothetical $10,000 investment)
Fund name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
|---|---|---|
iShares ESG Aware 60/40 Balanced Allocation ETF | $ |
| Footnote | Description |
Footnote(a) |
How did the Fund perform last year?
For the reporting period ended July 31, 2025, the Fund returned 9.96%.
For the same period, the MSCI All Country World Index (Net) returned 15.87% and the Bloomberg U.S. Universal Index returned 4.00%.
What contributed to performance?
U.S. equities were the largest contributor to the Fund’s return during the reporting period. In particular, semiconductor stocks gained amid unprecedented demand for artificial intelligence (“AI”) and generative AI, data center expansions, and continued innovation in chips and network solutions. Additionally, systems software firms benefited from strong growth in their respective cloud businesses and increasing adoption of AI technologies. International developed stocks, particularly in Germany, gained amid optimism surrounding a historic fiscal stimulus plan targeting infrastructure and defense spending.
In the fixed-income segment, U.S.-denominated investment-grade bonds also provided a meaningful contribution, especially among financial issuers.
What detracted from performance?
During the reporting period, there were no meaningful detractors from the Fund’s return.
The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.
Fund performance
Cumulative performance: June 12, 2020 through July 31, 2025
Initial Investment of $10,000
Fund | MSCI All Country World Index (Net) | Bloomberg U.S. Universal Index | BlackRock ESG Aware Balanced Allocation Index | S&P Target Risk Balanced Index | |
|---|---|---|---|---|---|
Jun 20 | $ | $ | $ | $ | $ |
Jul 20 | $ | $ | $ | $ | $ |
Aug 20 | $ | $ | $ | $ | $ |
Sep 20 | $ | $ | $ | $ | $ |
Oct 20 | $ | $ | $ | $ | $ |
Nov 20 | $ | $ | $ | $ | $ |
Dec 20 | $ | $ | $ | $ | $ |
Jan 21 | $ | $ | $ | $ | $ |
Feb 21 | $ | $ | $ | $ | $ |
Mar 21 | $ | $ | $ | $ | $ |
Apr 21 | $ | $ | $ | $ | $ |
May 21 | $ | $ | $ | $ | $ |
Jun 21 | $ | $ | $ | $ | $ |
Jul 21 | $ | $ | $ | $ | $ |
Aug 21 | $ | $ | $ | $ | $ |
Sep 21 | $ | $ | $ | $ | $ |
Oct 21 | $ | $ | $ | $ | $ |
Nov 21 | $ | $ | $ | $ | $ |
Dec 21 | $ | $ | $ | $ | $ |
Jan 22 | $ | $ | $ | $ | $ |
Feb 22 | $ | $ | $ | $ | $ |
Mar 22 | $ | $ | $ | $ | $ |
Apr 22 | $ | $ | $ | $ | $ |
May 22 | $ | $ | $ | $ | $ |
Jun 22 | $ | $ | $ | $ | $ |
Jul 22 | $ | $ | $ | $ | $ |
Aug 22 | $ | $ | $ | $ | $ |
Sep 22 | $ | $ | $ | $ | $ |
Oct 22 | $ | $ | $ | $ | $ |
Nov 22 | $ | $ | $ | $ | $ |
Dec 22 | $ | $ | $ | $ | $ |
Jan 23 | $ | $ | $ | $ | $ |
Feb 23 | $ | $ | $ | $ | $ |
Mar 23 | $ | $ | $ | $ | $ |
Apr 23 | $ | $ | $ | $ | $ |
May 23 | $ | $ | $ | $ | $ |
Jun 23 | $ | $ | $ | $ | $ |
Jul 23 | $ | $ | $ | $ | $ |
Aug 23 | $ | $ | $ | $ | $ |
Sep 23 | $ | $ | $ | $ | $ |
Oct 23 | $ | $ | $ | $ | $ |
Nov 23 | $ | $ | $ | $ | $ |
Dec 23 | $ | $ | $ | $ | $ |
Jan 24 | $ | $ | $ | $ | $ |
Feb 24 | $ | $ | $ | $ | $ |
Mar 24 | $ | $ | $ | $ | $ |
Apr 24 | $ | $ | $ | $ | $ |
May 24 | $ | $ | $ | $ | $ |
Jun 24 | $ | $ | $ | $ | $ |
Jul 24 | $ | $ | $ | $ | $ |
Aug 24 | $ | $ | $ | $ | $ |
Sep 24 | $ | $ | $ | $ | $ |
Oct 24 | $ | $ | $ | $ | $ |
Nov 24 | $ | $ | $ | $ | $ |
Dec 24 | $ | $ | $ | $ | $ |
Jan 25 | $ | $ | $ | $ | $ |
Feb 25 | $ | $ | $ | $ | $ |
Mar 25 | $ | $ | $ | $ | $ |
Apr 25 | $ | $ | $ | $ | $ |
May 25 | $ | $ | $ | $ | $ |
Jun 25 | $ | $ | $ | $ | $ |
Jul 25 | $ | $ | $ | $ | $ |
See “Average annual total returns” for additional information on fund performance.
Average annual total returns
Average Annual Total Returns | 1 Year | 5 Years | Since Fund
Inception |
|---|---|---|---|
Fund NAV........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |||
MSCI All Country World Index (Net)........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |||
Bloomberg U.S. Universal Index........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | ( | ( | |
BlackRock ESG Aware Balanced Allocation Index........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |||
S&P Target Risk Balanced Index........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ |
Key Fund statistics
Net Assets........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | $ |
|---|---|
Number of Portfolio Holdings........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
Net Investment Advisory Fees........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | $ |
Portfolio Turnover Rate........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ |
The Fund will no longer compare its performance to the S&P Target Risk Balanced Index as it added multiple broad-based securities market indexes in response to new regulatory requirements.
The inception date of the Fund was
What did the Fund invest in?
(as of July 31, 2025)
Portfolio composition
All holdings
Asset Class | Percent of Total InvestmentsFootnote Reference(a) |
|---|---|
Domestic Equity........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
Domestic Fixed Income........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
International Equity........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ |
Security | Percent of Total
InvestmentsFootnote Reference(a) |
|---|---|
iShares ESG Aware MSCI USA ETF........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
iShares ESG Aware U.S. Aggregate Bond ETF........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
iShares ESG Aware MSCI EAFE ETF........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
iShares ESG Aware MSCI EM ETF........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
iShares ESG Aware MSCI USA Small-Cap ETF........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ |
| Footnote | Description |
Footnote(a) | Excludes money market funds. |
Material fund changes
This is a summary of certain changes to the Fund since July 31, 2024. For more complete information, you may review the Fund's next prospectus, which we expect to be available approximately 120 days after July 31, 2025 at blackrock.com/fundreports or upon request by contacting us at 1-800-iShares (1-800-474-2737).
Effective February 19, 2025, the name of the Fund was changed from iShares ESG Aware Growth Allocation ETF to iShares ESG Aware 60/40 Balanced Allocation ETF.
Additional information
If you wish to view additional information about the Fund, including but not limited to financial statements, the Fund’s prospectus, and proxy voting policies and procedures, please visit blackrock.com/fundreports. For proxy voting records, visit blackrock.com/proxyrecords.
Householding
Householding is an option available to certain fund investors. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Please contact your broker-dealer if you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, or if you are currently enrolled in householding and wish to change your householding status.
The Fund is not sponsored, endorsed, issued, sold, or promoted by MSCI Inc., Bloomberg Index Services Limited, S&P Dow Jones Indices LLC or BlackRock Index Services, LLC and its affiliates, nor do these companies make any representation regarding the advisability of investing in the Fund. With the exception of BlackRock Index Services, LLC, who is an affiliate, BlackRock is not affiliated with the companies listed above.
©2025 BlackRock, Inc or its affiliates. All rights reserved. iSHARES and BLACKROCK are registered trademarks of BlackRock, Inc. or its affiliates. All other trademarks are those of their respective owners.
EAOR-07/25-AR
This report describes changes to the Fund that occurred during the reporting period.
What were the Fund costs for the last year?
(based on a hypothetical $10,000 investment)
Fund name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
|---|---|---|
iShares ESG Aware 80/20 Aggressive Allocation ETF | $ |
| Footnote | Description |
Footnote(a) |
How did the Fund perform last year?
For the reporting period ended July 31, 2025, the Fund returned 12.13%.
For the same period, the MSCI All Country World Index (Net) returned 15.87% and the Bloomberg U.S. Universal Index returned 4.00%.
What contributed to performance?
U.S. equities were the largest contributor to the Fund’s return during the reporting period. In particular, semiconductor stocks gained amid unprecedented demand for artificial intelligence (“AI”) and generative AI, data center expansions, and continued innovation in chips and network solutions. Additionally, systems software firms benefited from strong growth in their respective cloud businesses and increasing adoption of AI technologies. International developed stocks also contributed. German stocks were driven by strong corporate earnings from global-facing companies and optimism surrounding a historic fiscal stimulus plan targeting infrastructure and defense, which supported firms in the country’s industrials space. Emerging-market equities also contributed, especially Chinese stocks, which benefited from the country’s historic stimulus efforts.
What detracted from performance?
There were no material detractors from the Fund’s return during the reporting period.
The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.
Fund performance
Cumulative performance: June 12, 2020 through July 31, 2025
Initial Investment of $10,000
Fund | MSCI All Country World Index (Net) | Bloomberg U.S. Universal Index | BlackRock ESG Aware Aggressive Allocation Index | S&P Target Risk Aggressive Index | |
|---|---|---|---|---|---|
Jun 20 | $ | $ | $ | $ | $ |
Jul 20 | $ | $ | $ | $ | $ |
Aug 20 | $ | $ | $ | $ | $ |
Sep 20 | $ | $ | $ | $ | $ |
Oct 20 | $ | $ | $ | $ | $ |
Nov 20 | $ | $ | $ | $ | $ |
Dec 20 | $ | $ | $ | $ | $ |
Jan 21 | $ | $ | $ | $ | $ |
Feb 21 | $ | $ | $ | $ | $ |
Mar 21 | $ | $ | $ | $ | $ |
Apr 21 | $ | $ | $ | $ | $ |
May 21 | $ | $ | $ | $ | $ |
Jun 21 | $ | $ | $ | $ | $ |
Jul 21 | $ | $ | $ | $ | $ |
Aug 21 | $ | $ | $ | $ | $ |
Sep 21 | $ | $ | $ | $ | $ |
Oct 21 | $ | $ | $ | $ | $ |
Nov 21 | $ | $ | $ | $ | $ |
Dec 21 | $ | $ | $ | $ | $ |
Jan 22 | $ | $ | $ | $ | $ |
Feb 22 | $ | $ | $ | $ | $ |
Mar 22 | $ | $ | $ | $ | $ |
Apr 22 | $ | $ | $ | $ | $ |
May 22 | $ | $ | $ | $ | $ |
Jun 22 | $ | $ | $ | $ | $ |
Jul 22 | $ | $ | $ | $ | $ |
Aug 22 | $ | $ | $ | $ | $ |
Sep 22 | $ | $ | $ | $ | $ |
Oct 22 | $ | $ | $ | $ | $ |
Nov 22 | $ | $ | $ | $ | $ |
Dec 22 | $ | $ | $ | $ | $ |
Jan 23 | $ | $ | $ | $ | $ |
Feb 23 | $ | $ | $ | $ | $ |
Mar 23 | $ | $ | $ | $ | $ |
Apr 23 | $ | $ | $ | $ | $ |
May 23 | $ | $ | $ | $ | $ |
Jun 23 | $ | $ | $ | $ | $ |
Jul 23 | $ | $ | $ | $ | $ |
Aug 23 | $ | $ | $ | $ | $ |
Sep 23 | $ | $ | $ | $ | $ |
Oct 23 | $ | $ | $ | $ | $ |
Nov 23 | $ | $ | $ | $ | $ |
Dec 23 | $ | $ | $ | $ | $ |
Jan 24 | $ | $ | $ | $ | $ |
Feb 24 | $ | $ | $ | $ | $ |
Mar 24 | $ | $ | $ | $ | $ |
Apr 24 | $ | $ | $ | $ | $ |
May 24 | $ | $ | $ | $ | $ |
Jun 24 | $ | $ | $ | $ | $ |
Jul 24 | $ | $ | $ | $ | $ |
Aug 24 | $ | $ | $ | $ | $ |
Sep 24 | $ | $ | $ | $ | $ |
Oct 24 | $ | $ | $ | $ | $ |
Nov 24 | $ | $ | $ | $ | $ |
Dec 24 | $ | $ | $ | $ | $ |
Jan 25 | $ | $ | $ | $ | $ |
Feb 25 | $ | $ | $ | $ | $ |
Mar 25 | $ | $ | $ | $ | $ |
Apr 25 | $ | $ | $ | $ | $ |
May 25 | $ | $ | $ | $ | $ |
Jun 25 | $ | $ | $ | $ | $ |
Jul 25 | $ | $ | $ | $ | $ |
See “Average annual total returns” for additional information on fund performance.
Average annual total returns
Average Annual Total Returns | 1 Year | 5 Years | Since Fund
Inception |
|---|---|---|---|
Fund NAV........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |||
MSCI All Country World Index (Net)........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |||
Bloomberg U.S. Universal Index........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | ( | ( | |
BlackRock ESG Aware Aggressive Allocation Index........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |||
S&P Target Risk Aggressive Index........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ |
Key Fund statistics
Net Assets........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | $ |
|---|---|
Number of Portfolio Holdings........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
Net Investment Advisory Fees........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | $ |
Portfolio Turnover Rate........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ |
The Fund will no longer compare its performance to the S&P Target Risk Aggressive Index as it added multiple broad-based securities market indexes in response to new regulatory requirements.
The inception date of the Fund was
What did the Fund invest in?
(as of July 31, 2025)
Portfolio composition
All holdings
Asset Class | Percent of Total InvestmentsFootnote Reference(a) |
|---|---|
Domestic Equity........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
International Equity........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
Domestic Fixed Income........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ |
Security | Percent of Total
InvestmentsFootnote Reference(a) |
|---|---|
iShares ESG Aware MSCI USA ETF........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
iShares ESG Aware U.S. Aggregate Bond ETF........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
iShares ESG Aware MSCI EAFE ETF........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
iShares ESG Aware MSCI EM ETF........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
iShares ESG Aware MSCI USA Small-Cap ETF........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ |
| Footnote | Description |
Footnote(a) | Excludes money market funds. |
Material fund changes
This is a summary of certain changes to the Fund since July 31, 2024. For more complete information, you may review the Fund's next prospectus, which we expect to be available approximately 120 days after July 31, 2025 at blackrock.com/fundreports or upon request by contacting us at 1-800-iShares (1-800-474-2737).
Effective February 19, 2025, the name of the Fund was changed from iShares ESG Aware Aggressive Allocation ETF to iShares ESG Aware 80/20 Aggressive Allocation ETF.
Additional information
If you wish to view additional information about the Fund, including but not limited to financial statements, the Fund’s prospectus, and proxy voting policies and procedures, please visit blackrock.com/fundreports. For proxy voting records, visit blackrock.com/proxyrecords.
Householding
Householding is an option available to certain fund investors. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Please contact your broker-dealer if you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, or if you are currently enrolled in householding and wish to change your householding status.
The Fund is not sponsored, endorsed, issued, sold, or promoted by MSCI Inc., Bloomberg Index Services Limited, S&P Dow Jones Indices LLC or BlackRock Index Services, LLC and its affiliates, nor do these companies make any representation regarding the advisability of investing in the Fund. With the exception of BlackRock Index Services, LLC, who is an affiliate, BlackRock is not affiliated with the companies listed above.
©2025 BlackRock, Inc or its affiliates. All rights reserved. iSHARES and BLACKROCK are registered trademarks of BlackRock, Inc. or its affiliates. All other trademarks are those of their respective owners.
EAOA-07/25-AR
What were the Fund costs for the last year?
(based on a hypothetical $10,000 investment)
Fund name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
|---|---|---|
iShares MSCI USA Small-Cap Min Vol Factor ETF | $ |
How did the Fund perform last year?
For the reporting period ended July 31, 2025, the Fund returned 5.95%.
For the same period, the MSCI USA Index returned 16.96% and the MSCI USA Small Cap Minimum Volatility Index returned 6.10%.
What contributed to performance?
Small-cap insurance stocks in the financials sector were leading contributors to the Fund’s return during the reporting period. Property and casualty names gained as they experienced growth in premiums, robust underwriting trends, operational efficiency, and record investment income. Also within the financials sector, firms that provide investment banking and brokerage services gained amid increased trading volume and volatility. The Utilities Sector, companies that provide electric utilities advanced due to strong customer growth and increased electricity demand.
What detracted from performance?
There were no material detractors to the Fund’s performance during the reporting period.
The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.
Fund performance
Cumulative performance: September 7, 2016 through July 31, 2025
Initial Investment of $10,000
Fund | MSCI USA Index | MSCI USA Small Cap Minimum Volatility Index | |
|---|---|---|---|
Sep 16 | $ | $ | $ |
Oct 16 | $ | $ | $ |
Nov 16 | $ | $ | $ |
Dec 16 | $ | $ | $ |
Jan 17 | $ | $ | $ |
Feb 17 | $ | $ | $ |
Mar 17 | $ | $ | $ |
Apr 17 | $ | $ | $ |
May 17 | $ | $ | $ |
Jun 17 | $ | $ | $ |
Jul 17 | $ | $ | $ |
Aug 17 | $ | $ | $ |
Sep 17 | $ | $ | $ |
Oct 17 | $ | $ | $ |
Nov 17 | $ | $ | $ |
Dec 17 | $ | $ | $ |
Jan 18 | $ | $ | $ |
Feb 18 | $ | $ | $ |
Mar 18 | $ | $ | $ |
Apr 18 | $ | $ | $ |
May 18 | $ | $ | $ |
Jun 18 | $ | $ | $ |
Jul 18 | $ | $ | $ |
Aug 18 | $ | $ | $ |
Sep 18 | $ | $ | $ |
Oct 18 | $ | $ | $ |
Nov 18 | $ | $ | $ |
Dec 18 | $ | $ | $ |
Jan 19 | $ | $ | $ |
Feb 19 | $ | $ | $ |
Mar 19 | $ | $ | $ |
Apr 19 | $ | $ | $ |
May 19 | $ | $ | $ |
Jun 19 | $ | $ | $ |
Jul 19 | $ | $ | $ |
Aug 19 | $ | $ | $ |
Sep 19 | $ | $ | $ |
Oct 19 | $ | $ | $ |
Nov 19 | $ | $ | $ |
Dec 19 | $ | $ | $ |
Jan 20 | $ | $ | $ |
Feb 20 | $ | $ | $ |
Mar 20 | $ | $ | $ |
Apr 20 | $ | $ | $ |
May 20 | $ | $ | $ |
Jun 20 | $ | $ | $ |
Jul 20 | $ | $ | $ |
Aug 20 | $ | $ | $ |
Sep 20 | $ | $ | $ |
Oct 20 | $ | $ | $ |
Nov 20 | $ | $ | $ |
Dec 20 | $ | $ | $ |
Jan 21 | $ | $ | $ |
Feb 21 | $ | $ | $ |
Mar 21 | $ | $ | $ |
Apr 21 | $ | $ | $ |
May 21 | $ | $ | $ |
Jun 21 | $ | $ | $ |
Jul 21 | $ | $ | $ |
Aug 21 | $ | $ | $ |
Sep 21 | $ | $ | $ |
Oct 21 | $ | $ | $ |
Nov 21 | $ | $ | $ |
Dec 21 | $ | $ | $ |
Jan 22 | $ | $ | $ |
Feb 22 | $ | $ | $ |
Mar 22 | $ | $ | $ |
Apr 22 | $ | $ | $ |
May 22 | $ | $ | $ |
Jun 22 | $ | $ | $ |
Jul 22 | $ | $ | $ |
Aug 22 | $ | $ | $ |
Sep 22 | $ | $ | $ |
Oct 22 | $ | $ | $ |
Nov 22 | $ | $ | $ |
Dec 22 | $ | $ | $ |
Jan 23 | $ | $ | $ |
Feb 23 | $ | $ | $ |
Mar 23 | $ | $ | $ |
Apr 23 | $ | $ | $ |
May 23 | $ | $ | $ |
Jun 23 | $ | $ | $ |
Jul 23 | $ | $ | $ |
Aug 23 | $ | $ | $ |
Sep 23 | $ | $ | $ |
Oct 23 | $ | $ | $ |
Nov 23 | $ | $ | $ |
Dec 23 | $ | $ | $ |
Jan 24 | $ | $ | $ |
Feb 24 | $ | $ | $ |
Mar 24 | $ | $ | $ |
Apr 24 | $ | $ | $ |
May 24 | $ | $ | $ |
Jun 24 | $ | $ | $ |
Jul 24 | $ | $ | $ |
Aug 24 | $ | $ | $ |
Sep 24 | $ | $ | $ |
Oct 24 | $ | $ | $ |
Nov 24 | $ | $ | $ |
Dec 24 | $ | $ | $ |
Jan 25 | $ | $ | $ |
Feb 25 | $ | $ | $ |
Mar 25 | $ | $ | $ |
Apr 25 | $ | $ | $ |
May 25 | $ | $ | $ |
Jun 25 | $ | $ | $ |
Jul 25 | $ | $ | $ |
See “Average annual total returns” for additional information on fund performance.
Average annual total returns
Average Annual Total Returns | 1 Year | 5 Years | Since Fund
Inception |
|---|---|---|---|
Fund NAV........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |||
MSCI USA Index........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |||
MSCI USA Small Cap Minimum Volatility Index........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ |
Key Fund statistics
Net Assets........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | $ |
|---|---|
Number of Portfolio Holdings........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
Net Investment Advisory Fees........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | $ |
Portfolio Turnover Rate........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ |
The inception date of the Fund was
What did the Fund invest in?
(as of July 31, 2025)
Sector allocation
Ten largest holdings
Sector | Percent of Total InvestmentsFootnote Reference(a) |
|---|---|
Health Care........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
Industrials........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
Financials........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
Consumer Staples........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
Real Estate........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
Information Technology........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
Consumer Discretionary........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
Utilities........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
Communication Services........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
Materials........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
Energy........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ |
Security | Percent of Total InvestmentsFootnote Reference(a) |
|---|---|
Ensign Group, Inc. (The)........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
Pinnacle West Capital Corp......................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................... | |
AptarGroup, Inc......................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................... | |
Agree Realty Corp......................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................... | |
Old Republic International Corp......................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................... | |
Omega Healthcare Investors, Inc......................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................... | |
IDACORP, Inc......................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................... | |
Royal Gold, Inc......................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................... | |
OGE Energy Corp......................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................... | |
Ingredion, Inc......................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................... |
| Footnote | Description |
Footnote(a) | Excludes money market funds. |
Additional information
If you wish to view additional information about the Fund, including but not limited to financial statements, the Fund’s prospectus, and proxy voting policies and procedures, please visit blackrock.com/fundreports. For proxy voting records, visit blackrock.com/proxyrecords.
Householding
Householding is an option available to certain fund investors. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Please contact your broker-dealer if you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, or if you are currently enrolled in householding and wish to change your householding status.
The Fund is not sponsored, endorsed, issued, sold, or promoted by MSCI Inc. and its affiliates, nor does this company make any representation regarding the advisability of investing in the Fund. BlackRock is not affiliated with the company listed above.
©2025 BlackRock, Inc. or its affiliates. All rights reserved. iSHARES and BLACKROCK are registered trademarks of BlackRock, Inc. or its affiliates. All other trademarks are those of their respective owners.
SMMV-07/25-AR
What were the Fund costs for the last year?
(based on a hypothetical $10,000 investment)
Fund name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
|---|---|---|
iShares U.S. Equity Factor ETF | $ |
How did the Fund perform last year?
For the reporting period ended July 31, 2025, the Fund returned 17.48%.
For the same period, the S&P Total Markets Index returned 15.73% and the STOXX U.S. Equity Factor Index (Spliced) returned 17.56%.
What contributed to performance?
During the reporting period, stocks in the information technology sector were the leading contributors to the Fund’s return. Semiconductor stocks gained amid continued demand for artificial intelligence (“AI”), and generative AI, data center expansions, and continued innovation in chips and network solutions. Systems software firms benefited from strong demand in cloud-delivered businesses, including cybersecurity, and increasing adoption of AI technologies, while application software companies, spanning chip designers and industrial and financial software innovators, contributed as they accelerated their AI-driven monetization through AI-native tools and platform enhancements. Capital markets firms in the financials sector were also notable contributors, benefiting from resilient equity markets, rising assets under management, strong trends in wealth management, and high trading volumes. Finally, broadline retail companies in the consumer discretionary sector were supported by continued positive e-commerce growth and the use of AI-powered tools to improve efficiency
What detracted from performance?
U.S. healthcare stocks were modest detractors from the Fund’s return during the reporting period, pressured by increasing regulatory scrutiny and policy upheaval. Managed healthcare firms faced additional challenges due to rising utilization and medical costs, as well as changes in reimbursement levels.
The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.
Fund performance
Cumulative performance: August 1, 2015 through July 31, 2025
Initial Investment of $10,000
Fund | S&P Total Market Index | STOXX U.S. Equity Factor Index (Spliced) | |
|---|---|---|---|
Aug 15 | $ | $ | $ |
Sep 15 | $ | $ | $ |
Oct 15 | $ | $ | $ |
Nov 15 | $ | $ | $ |
Dec 15 | $ | $ | $ |
Jan 16 | $ | $ | $ |
Feb 16 | $ | $ | $ |
Mar 16 | $ | $ | $ |
Apr 16 | $ | $ | $ |
May 16 | $ | $ | $ |
Jun 16 | $ | $ | $ |
Jul 16 | $ | $ | $ |
Aug 16 | $ | $ | $ |
Sep 16 | $ | $ | $ |
Oct 16 | $ | $ | $ |
Nov 16 | $ | $ | $ |
Dec 16 | $ | $ | $ |
Jan 17 | $ | $ | $ |
Feb 17 | $ | $ | $ |
Mar 17 | $ | $ | $ |
Apr 17 | $ | $ | $ |
May 17 | $ | $ | $ |
Jun 17 | $ | $ | $ |
Jul 17 | $ | $ | $ |
Aug 17 | $ | $ | $ |
Sep 17 | $ | $ | $ |
Oct 17 | $ | $ | $ |
Nov 17 | $ | $ | $ |
Dec 17 | $ | $ | $ |
Jan 18 | $ | $ | $ |
Feb 18 | $ | $ | $ |
Mar 18 | $ | $ | $ |
Apr 18 | $ | $ | $ |
May 18 | $ | $ | $ |
Jun 18 | $ | $ | $ |
Jul 18 | $ | $ | $ |
Aug 18 | $ | $ | $ |
Sep 18 | $ | $ | $ |
Oct 18 | $ | $ | $ |
Nov 18 | $ | $ | $ |
Dec 18 | $ | $ | $ |
Jan 19 | $ | $ | $ |
Feb 19 | $ | $ | $ |
Mar 19 | $ | $ | $ |
Apr 19 | $ | $ | $ |
May 19 | $ | $ | $ |
Jun 19 | $ | $ | $ |
Jul 19 | $ | $ | $ |
Aug 19 | $ | $ | $ |
Sep 19 | $ | $ | $ |
Oct 19 | $ | $ | $ |
Nov 19 | $ | $ | $ |
Dec 19 | $ | $ | $ |
Jan 20 | $ | $ | $ |
Feb 20 | $ | $ | $ |
Mar 20 | $ | $ | $ |
Apr 20 | $ | $ | $ |
May 20 | $ | $ | $ |
Jun 20 | $ | $ | $ |
Jul 20 | $ | $ | $ |
Aug 20 | $ | $ | $ |
Sep 20 | $ | $ | $ |
Oct 20 | $ | $ | $ |
Nov 20 | $ | $ | $ |
Dec 20 | $ | $ | $ |
Jan 21 | $ | $ | $ |
Feb 21 | $ | $ | $ |
Mar 21 | $ | $ | $ |
Apr 21 | $ | $ | $ |
May 21 | $ | $ | $ |
Jun 21 | $ | $ | $ |
Jul 21 | $ | $ | $ |
Aug 21 | $ | $ | $ |
Sep 21 | $ | $ | $ |
Oct 21 | $ | $ | $ |
Nov 21 | $ | $ | $ |
Dec 21 | $ | $ | $ |
Jan 22 | $ | $ | $ |
Feb 22 | $ | $ | $ |
Mar 22 | $ | $ | $ |
Apr 22 | $ | $ | $ |
May 22 | $ | $ | $ |
Jun 22 | $ | $ | $ |
Jul 22 | $ | $ | $ |
Aug 22 | $ | $ | $ |
Sep 22 | $ | $ | $ |
Oct 22 | $ | $ | $ |
Nov 22 | $ | $ | $ |
Dec 22 | $ | $ | $ |
Jan 23 | $ | $ | $ |
Feb 23 | $ | $ | $ |
Mar 23 | $ | $ | $ |
Apr 23 | $ | $ | $ |
May 23 | $ | $ | $ |
Jun 23 | $ | $ | $ |
Jul 23 | $ | $ | $ |
Aug 23 | $ | $ | $ |
Sep 23 | $ | $ | $ |
Oct 23 | $ | $ | $ |
Nov 23 | $ | $ | $ |
Dec 23 | $ | $ | $ |
Jan 24 | $ | $ | $ |
Feb 24 | $ | $ | $ |
Mar 24 | $ | $ | $ |
Apr 24 | $ | $ | $ |
May 24 | $ | $ | $ |
Jun 24 | $ | $ | $ |
Jul 24 | $ | $ | $ |
Aug 24 | $ | $ | $ |
Sep 24 | $ | $ | $ |
Oct 24 | $ | $ | $ |
Nov 24 | $ | $ | $ |
Dec 24 | $ | $ | $ |
Jan 25 | $ | $ | $ |
Feb 25 | $ | $ | $ |
Mar 25 | $ | $ | $ |
Apr 25 | $ | $ | $ |
May 25 | $ | $ | $ |
Jun 25 | $ | $ | $ |
Jul 25 | $ | $ | $ |
See “Average annual total returns” for additional information on fund performance.
Average annual total returns
Average Annual Total Returns | 1 Year | 5 Years | 10 Years |
|---|---|---|---|
Fund NAV........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |||
S&P Total Market Index........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |||
STOXX U.S. Equity Factor Index (Spliced)........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ |
Key Fund statistics
Net Assets........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | $ |
|---|---|
Number of Portfolio Holdings........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
Net Investment Advisory Fees........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | $ |
Portfolio Turnover Rate........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ |
The performance of the STOXX U.S. Equity Factor Index (Spliced) in this report reflects the performance of the MSCI USA Diversified Multiple-Factor Index through May 31, 2022 and, beginning on June 1, 2022, the performance of the STOXX U.S. Equity Factor Index.
What did the Fund invest in?
(as of July 31, 2025)
Sector allocation
Ten largest holdings
Sector | Percent of Total InvestmentsFootnote Reference(a) |
|---|---|
Information Technology........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
Financials........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
Consumer Discretionary........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
Health Care........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
Industrials........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
Communication Services........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
Consumer Staples........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
Energy........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
Utilities........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
Materials........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
Real Estate........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ |
Security | Percent of Total InvestmentsFootnote Reference(a) |
|---|---|
NVIDIA Corp......................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................... | |
Microsoft Corp......................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................... | |
Apple, Inc......................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................... | |
Amazon.com, Inc......................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................... | |
Meta Platforms, Inc., Class A........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
Broadcom, Inc......................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................... | |
JPMorgan Chase & Co......................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................... | |
Alphabet, Inc., Class C, NVS........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
Visa, Inc., Class A........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
Booking Holdings, Inc......................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................... |
| Footnote | Description |
Footnote(a) | Excludes money market funds. |
Additional information
If you wish to view additional information about the Fund, including but not limited to financial statements, the Fund’s prospectus, and proxy voting policies and procedures, please visit blackrock.com/fundreports. For proxy voting records, visit blackrock.com/proxyrecords.
Householding
Householding is an option available to certain fund investors. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Please contact your broker-dealer if you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, or if you are currently enrolled in householding and wish to change your householding status.
The Fund is not sponsored, endorsed, issued, sold, or promoted by S&P Dow Jones Indices LLC, MSCI Inc. or STOXX and its affiliates, nor do these companies make any representation regarding the advisability of investing in the Fund. BlackRock is not affiliated with the companies listed above.
©2025 BlackRock, Inc. or its affiliates. All rights reserved. iSHARES and BLACKROCK are registered trademarks of BlackRock, Inc. or its affiliates. All other trademarks are those of their respective owners.
LRGF-07/25-AR
This report describes changes to the Fund that occurred during the reporting period.
What were the Fund costs for the last year?
(based on a hypothetical $10,000 investment)
Fund name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
|---|---|---|
iShares U.S. Small-Cap Equity Factor ETF | $ |
How did the Fund perform last year?
For the reporting period ended July 31, 2025, the Fund returned 7.03%.
For the same period, the S&P Total Market Index returned 15.73% and the STOXX U.S. Small-Cap Equity Factor Index (Spliced) returned 7.20%.
What contributed to performance?
During the reporting period, small-cap stocks in the information technology sector led contributors. Application software firms, particularly those with subscription and transaction-based models, gained as investor appetite for high-growth technology increased, further helped by artificial-intelligence (“AI”) growth tailwinds. In the industrials sector, construction and engineering firms gained due to their integral role in the development and maintenance of AI centers. Aerospace and defense firms that provide satellites, spacecraft, and video surveillance tools, gained amid rising geopolitical tensions, which have increased government support for defense spending. In the financials sector, investment banking and brokerage companies benefited from increased trading activity as well as strength in advisory solutions and underwriting.
What detracted from performance?
Stocks in the materials sector were a modest detractor from the Fund’s return during the reporting period. Chemicals firms faced pressure due to weak demand in key manufacturing sectors, overcapacity, rising costs, and tariff uncertainty.
The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.
Fund performance
Cumulative performance: August 1, 2015 through July 31, 2025
Initial Investment of $10,000
Fund | S&P Total Market Index | STOXX U.S. Small-Cap Equity Factor Index (Spliced) | |
|---|---|---|---|
Aug 15 | $ | $ | $ |
Sep 15 | $ | $ | $ |
Oct 15 | $ | $ | $ |
Nov 15 | $ | $ | $ |
Dec 15 | $ | $ | $ |
Jan 16 | $ | $ | $ |
Feb 16 | $ | $ | $ |
Mar 16 | $ | $ | $ |
Apr 16 | $ | $ | $ |
May 16 | $ | $ | $ |
Jun 16 | $ | $ | $ |
Jul 16 | $ | $ | $ |
Aug 16 | $ | $ | $ |
Sep 16 | $ | $ | $ |
Oct 16 | $ | $ | $ |
Nov 16 | $ | $ | $ |
Dec 16 | $ | $ | $ |
Jan 17 | $ | $ | $ |
Feb 17 | $ | $ | $ |
Mar 17 | $ | $ | $ |
Apr 17 | $ | $ | $ |
May 17 | $ | $ | $ |
Jun 17 | $ | $ | $ |
Jul 17 | $ | $ | $ |
Aug 17 | $ | $ | $ |
Sep 17 | $ | $ | $ |
Oct 17 | $ | $ | $ |
Nov 17 | $ | $ | $ |
Dec 17 | $ | $ | $ |
Jan 18 | $ | $ | $ |
Feb 18 | $ | $ | $ |
Mar 18 | $ | $ | $ |
Apr 18 | $ | $ | $ |
May 18 | $ | $ | $ |
Jun 18 | $ | $ | $ |
Jul 18 | $ | $ | $ |
Aug 18 | $ | $ | $ |
Sep 18 | $ | $ | $ |
Oct 18 | $ | $ | $ |
Nov 18 | $ | $ | $ |
Dec 18 | $ | $ | $ |
Jan 19 | $ | $ | $ |
Feb 19 | $ | $ | $ |
Mar 19 | $ | $ | $ |
Apr 19 | $ | $ | $ |
May 19 | $ | $ | $ |
Jun 19 | $ | $ | $ |
Jul 19 | $ | $ | $ |
Aug 19 | $ | $ | $ |
Sep 19 | $ | $ | $ |
Oct 19 | $ | $ | $ |
Nov 19 | $ | $ | $ |
Dec 19 | $ | $ | $ |
Jan 20 | $ | $ | $ |
Feb 20 | $ | $ | $ |
Mar 20 | $ | $ | $ |
Apr 20 | $ | $ | $ |
May 20 | $ | $ | $ |
Jun 20 | $ | $ | $ |
Jul 20 | $ | $ | $ |
Aug 20 | $ | $ | $ |
Sep 20 | $ | $ | $ |
Oct 20 | $ | $ | $ |
Nov 20 | $ | $ | $ |
Dec 20 | $ | $ | $ |
Jan 21 | $ | $ | $ |
Feb 21 | $ | $ | $ |
Mar 21 | $ | $ | $ |
Apr 21 | $ | $ | $ |
May 21 | $ | $ | $ |
Jun 21 | $ | $ | $ |
Jul 21 | $ | $ | $ |
Aug 21 | $ | $ | $ |
Sep 21 | $ | $ | $ |
Oct 21 | $ | $ | $ |
Nov 21 | $ | $ | $ |
Dec 21 | $ | $ | $ |
Jan 22 | $ | $ | $ |
Feb 22 | $ | $ | $ |
Mar 22 | $ | $ | $ |
Apr 22 | $ | $ | $ |
May 22 | $ | $ | $ |
Jun 22 | $ | $ | $ |
Jul 22 | $ | $ | $ |
Aug 22 | $ | $ | $ |
Sep 22 | $ | $ | $ |
Oct 22 | $ | $ | $ |
Nov 22 | $ | $ | $ |
Dec 22 | $ | $ | $ |
Jan 23 | $ | $ | $ |
Feb 23 | $ | $ | $ |
Mar 23 | $ | $ | $ |
Apr 23 | $ | $ | $ |
May 23 | $ | $ | $ |
Jun 23 | $ | $ | $ |
Jul 23 | $ | $ | $ |
Aug 23 | $ | $ | $ |
Sep 23 | $ | $ | $ |
Oct 23 | $ | $ | $ |
Nov 23 | $ | $ | $ |
Dec 23 | $ | $ | $ |
Jan 24 | $ | $ | $ |
Feb 24 | $ | $ | $ |
Mar 24 | $ | $ | $ |
Apr 24 | $ | $ | $ |
May 24 | $ | $ | $ |
Jun 24 | $ | $ | $ |
Jul 24 | $ | $ | $ |
Aug 24 | $ | $ | $ |
Sep 24 | $ | $ | $ |
Oct 24 | $ | $ | $ |
Nov 24 | $ | $ | $ |
Dec 24 | $ | $ | $ |
Jan 25 | $ | $ | $ |
Feb 25 | $ | $ | $ |
Mar 25 | $ | $ | $ |
Apr 25 | $ | $ | $ |
May 25 | $ | $ | $ |
Jun 25 | $ | $ | $ |
Jul 25 | $ | $ | $ |
See “Average annual total returns” for additional information on fund performance.
Average annual total returns
Average Annual Total Returns | 1 Year | 5 Years | 10 Years |
|---|---|---|---|
Fund NAV........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |||
S&P Total Market Index........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |||
STOXX U.S. Small-Cap Equity Factor Index (Spliced)........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ |
Key Fund statistics
Net Assets........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | $ |
|---|---|
Number of Portfolio Holdings........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
Net Investment Advisory Fees........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | $ |
Portfolio Turnover Rate........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ |
The performance of the STOXX U.S. Small-Cap Equity Factor Index (Spliced) in this report reflects the performance of the MSCI USA Small Cap Diversified Multiple-Factor Index through February 28, 2023 and, beginning on March 1, 2023, the performance of the STOXX U.S. Small-Cap Equity Factor Index.
What did the Fund invest in?
(as of July 31, 2025)
Sector allocation
Ten largest holdings
Sector | Percent of Total InvestmentsFootnote Reference(a) |
|---|---|
Industrials........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
Financials........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
Consumer Discretionary........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
Information Technology........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
Health Care........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
Real Estate........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
Consumer Staples........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
Materials........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
Energy........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
Communication Services........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
Utilities........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ |
Security | Percent of Total InvestmentsFootnote Reference(a) |
|---|---|
EMCOR Group, Inc......................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................... | |
Carvana Co., Class A........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
Jabil, Inc......................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................... | |
Interactive Brokers Group, Inc., Class A........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
Comfort Systems USA, Inc......................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................... | |
Williams-Sonoma, Inc......................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................... | |
Nutanix, Inc., Class A........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
Tapestry, Inc......................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................... | |
Core & Main, Inc., Class A........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
Evercore, Inc., Class A........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ |
| Footnote | Description |
Footnote(a) | Excludes money market funds. |
Additional information
If you wish to view additional information about the Fund, including but not limited to financial statements, the Fund’s prospectus, and proxy voting policies and procedures, please visit blackrock.com/fundreports. For proxy voting records, visit blackrock.com/proxyrecords.
Householding
Householding is an option available to certain fund investors. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Please contact your broker-dealer if you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, or if you are currently enrolled in householding and wish to change your householding status.
The Fund is not sponsored, endorsed, issued, sold, or promoted by S&P Dow Jones Indices LLC, MSCI Inc. or STOXX and its affiliates, nor do these companies make any representation regarding the advisability of investing in the Fund. BlackRock is not affiliated with the companies listed above.
©2025 BlackRock, Inc. or its affiliates. All rights reserved. iSHARES and BLACKROCK are registered trademarks of BlackRock, Inc. or its affiliates. All other trademarks are those of their respective owners.
SMLF-07/25-AR
What were the Fund costs for the last year?
(based on a hypothetical $10,000 investment)
Fund name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
|---|---|---|
iShares U.S. Tech Breakthrough Multisector ETF | $ |
How did the Fund perform last year?
For the reporting period ended July 31, 2025, the Fund returned 18.20%.
For the same period, the ICE U.S. 3000 Index returned 15.58% and the NYSE FactSet U.S. Tech Breakthrough Index returned 18.56%.
What contributed to performance?
During the reporting period, software stocks in the information technology sector were the leading contributors to the Fund’s return. Systems software firms benefited from robust demand in cloud-delivered businesses, including cybersecurity, and increasing adoption of artificial intelligence (“AI”) technologies. Application software companies benefited from accelerated AI integration into their platforms. In particular, an application software company specializing in AI-enabled data analysis experienced strong growth across its government and commercial sectors. Additionally, semiconductor stocks gained amid unprecedented demand for AI and generative AI, data center expansions, and continued innovation in chips and network solutions. In the communications sector, media and entertainment stocks gained. Strong subscriber growth for a subscription-based streaming service was boosted by its efforts to stop password sharing and content strategy initiatives, while a social media provider operating several platforms saw gains due to a resurgence in advertising revenue.
What detracted from performance?
Select U.S. biotechnology and pharmaceutical stocks were modest detractors from the Fund’s return during the reporting period, pressured by increasing regulatory scrutiny and policy upheaval. These stocks suffered due to setbacks in clinical trials, shifts in government policy regarding vaccines, and patent protection expirations. Additionally, some established hardware and software providers underperformed as investors favored higher-growth segments within the technology sector, particularly those with clear ties to AI and cloud expansion.
The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.
Fund performance
Cumulative performance: January 8, 2020 through July 31, 2025
Initial Investment of $10,000
Fund | ICE U.S. 3000 Index | NYSE FactSet U.S. Tech Breakthrough Index | |
|---|---|---|---|
Jan 20 | $ | $ | $ |
Feb 20 | $ | $ | $ |
Mar 20 | $ | $ | $ |
Apr 20 | $ | $ | $ |
May 20 | $ | $ | $ |
Jun 20 | $ | $ | $ |
Jul 20 | $ | $ | $ |
Aug 20 | $ | $ | $ |
Sep 20 | $ | $ | $ |
Oct 20 | $ | $ | $ |
Nov 20 | $ | $ | $ |
Dec 20 | $ | $ | $ |
Jan 21 | $ | $ | $ |
Feb 21 | $ | $ | $ |
Mar 21 | $ | $ | $ |
Apr 21 | $ | $ | $ |
May 21 | $ | $ | $ |
Jun 21 | $ | $ | $ |
Jul 21 | $ | $ | $ |
Aug 21 | $ | $ | $ |
Sep 21 | $ | $ | $ |
Oct 21 | $ | $ | $ |
Nov 21 | $ | $ | $ |
Dec 21 | $ | $ | $ |
Jan 22 | $ | $ | $ |
Feb 22 | $ | $ | $ |
Mar 22 | $ | $ | $ |
Apr 22 | $ | $ | $ |
May 22 | $ | $ | $ |
Jun 22 | $ | $ | $ |
Jul 22 | $ | $ | $ |
Aug 22 | $ | $ | $ |
Sep 22 | $ | $ | $ |
Oct 22 | $ | $ | $ |
Nov 22 | $ | $ | $ |
Dec 22 | $ | $ | $ |
Jan 23 | $ | $ | $ |
Feb 23 | $ | $ | $ |
Mar 23 | $ | $ | $ |
Apr 23 | $ | $ | $ |
May 23 | $ | $ | $ |
Jun 23 | $ | $ | $ |
Jul 23 | $ | $ | $ |
Aug 23 | $ | $ | $ |
Sep 23 | $ | $ | $ |
Oct 23 | $ | $ | $ |
Nov 23 | $ | $ | $ |
Dec 23 | $ | $ | $ |
Jan 24 | $ | $ | $ |
Feb 24 | $ | $ | $ |
Mar 24 | $ | $ | $ |
Apr 24 | $ | $ | $ |
May 24 | $ | $ | $ |
Jun 24 | $ | $ | $ |
Jul 24 | $ | $ | $ |
Aug 24 | $ | $ | $ |
Sep 24 | $ | $ | $ |
Oct 24 | $ | $ | $ |
Nov 24 | $ | $ | $ |
Dec 24 | $ | $ | $ |
Jan 25 | $ | $ | $ |
Feb 25 | $ | $ | $ |
Mar 25 | $ | $ | $ |
Apr 25 | $ | $ | $ |
May 25 | $ | $ | $ |
Jun 25 | $ | $ | $ |
Jul 25 | $ | $ | $ |
See “Average annual total returns” for additional information on fund performance.
Average annual total returns
Average Annual Total Returns | 1 Year | 5 Years | Since Fund
Inception |
|---|---|---|---|
Fund NAV........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |||
ICE U.S. 3000 Index........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |||
NYSE FactSet U.S. Tech Breakthrough Index........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ |
Key Fund statistics
Net Assets........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | $ |
|---|---|
Number of Portfolio Holdings........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
Net Investment Advisory Fees........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | $ |
Portfolio Turnover Rate........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ |
The inception date of the Fund was
What did the Fund invest in?
(as of July 31, 2025)
Sector allocation
Ten largest holdings
Sector | Percent of Total InvestmentsFootnote Reference(a) |
|---|---|
Information Technology........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
Communication Services........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
Health Care........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
Financials........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
Consumer Discretionary........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
Real Estate........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
Industrials........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
Energy........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ |
Security | Percent of Total InvestmentsFootnote Reference(a) |
|---|---|
Oracle Corp......................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................... | |
NVIDIA Corp......................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................... | |
Palantir Technologies, Inc., Class A........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
Microsoft Corp......................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................... | |
Meta Platforms, Inc., Class A........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
Alphabet, Inc., Class A........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
Amazon.com, Inc......................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................... | |
Apple, Inc......................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................... | |
Merck & Co., Inc......................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................... | |
Advanced Micro Devices, Inc......................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................... |
| Footnote | Description |
Footnote(a) | Excludes money market funds. |
Additional information
If you wish to view additional information about the Fund, including but not limited to financial statements, the Fund’s prospectus, and proxy voting policies and procedures, please visit blackrock.com/fundreports. For proxy voting records, visit blackrock.com/proxyrecords.
Householding
Householding is an option available to certain fund investors. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Please contact your broker-dealer if you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, or if you are currently enrolled in householding and wish to change your householding status.
The Fund is not sponsored, endorsed, issued, sold, or promoted by ICE Data Indices, LLC and its affiliates, nor does this company make any representation regarding the advisability of investing in the Fund. BlackRock is not affiliated with the company listed above.
©2025 BlackRock, Inc. or its affiliates. All rights reserved. iSHARES and BLACKROCK are registered trademarks of BlackRock, Inc. or its affiliates. All other trademarks are those of their respective owners.
TECB-07/25-AR