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, 2026, the Fund returned 8.61%.
For the same period, the Bloomberg U.S. Universal Index returned 3.02%, the MSCI All Country World Index (Net) returned 22.11% and the BlackRock ESG Aware Conservative Allocation Index returned 8.66%.
What contributed to performance?
U.S. equities were the largest contributor to the Fund’s return during the reporting period. Semiconductors and semiconductor equipment stocks benefited from robust demand for artificial intelligence (“AI”), cloud computing, and data center infrastructure, with high-performance chipmakers among the standout performers. Technology hardware, storage, and peripherals companies also advanced, supported by resilient consumer demand, improving pricing trends, and growing enterprise and hyperscale storage needs driven by AI-related data growth. International developed stocks also contributed. As the Bank of Japan exited its accommodative interest rate policy, multiple rate hikes lifted borrowing margins and boosted profitability for banking stocks in Japan’s financials sector. In the fixed-income allocation, securitized bonds and Treasury securities positively contributed to the Fund’s return.
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, 2026
Initial Investment of $10,000
Fund | Bloomberg U.S. Universal Index | MSCI All Country World Index (Net) | BlackRock ESG Aware Conservative Allocation 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 | $ | $ | $ | $ |
Aug 25 | $ | $ | $ | $ |
Sep 25 | $ | $ | $ | $ |
Oct 25 | $ | $ | $ | $ |
Nov 25 | $ | $ | $ | $ |
Dec 25 | $ | $ | $ | $ |
Jan 26 | $ | $ | $ | $ |
Feb 26 | $ | $ | $ | $ |
Mar 26 | $ | $ | $ | $ |
Apr 26 | $ | $ | $ | $ |
May 26 | $ | $ | $ | $ |
Jun 26 | $ | $ | $ | $ |
Jul 26 | $ | $ | $ | $ |
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........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ |
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, 2026)
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, 2025.
The Board of Trustees of the Fund approved the liquidation of the Fund. After the close of business on August 12, 2026, the Fund no longer accepted creation orders. Trading in the Fund halted prior to market open on August 13, 2026. Proceeds of the liquidation were sent to shareholders on August 17, 2026.
The contractual fee waiver has been extended through November 29, 2030.
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 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.
©2026 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-07/26-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, 2026, the Fund returned 10.60%.
For the same period, the Bloomberg U.S. Universal Index returned 3.02%, the MSCI All Country World Index (Net) returned 22.11% and the BlackRock ESG Aware Moderate Allocation Index returned 10.64%.
What contributed to performance?
U.S. equities were the largest contributor to the Fund’s return during the reporting period. Semiconductors and semiconductor equipment stocks benefited from robust demand for artificial intelligence (“AI”), cloud computing, and data center infrastructure, with high-performance chipmakers among the standout performers. Technology hardware, storage, and peripherals companies also advanced, supported by resilient consumer demand, improving pricing trends, and growing enterprise and hyperscale storage needs driven by AI-related data growth. International developed stocks also contributed. As the Bank of Japan exited its accommodative interest rate policy, multiple rate hikes lifted borrowing margins and boosted profitability for banking stocks in Japan’s financials sector. In the fixed-income allocation, securitized bonds and Treasury securities positively contributed to the Fund’s return.
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, 2026
Initial Investment of $10,000
Fund | Bloomberg U.S. Universal Index | MSCI All Country World Index (Net) | BlackRock ESG Aware Moderate Allocation 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 | $ | $ | $ | $ |
Aug 25 | $ | $ | $ | $ |
Sep 25 | $ | $ | $ | $ |
Oct 25 | $ | $ | $ | $ |
Nov 25 | $ | $ | $ | $ |
Dec 25 | $ | $ | $ | $ |
Jan 26 | $ | $ | $ | $ |
Feb 26 | $ | $ | $ | $ |
Mar 26 | $ | $ | $ | $ |
Apr 26 | $ | $ | $ | $ |
May 26 | $ | $ | $ | $ |
Jun 26 | $ | $ | $ | $ |
Jul 26 | $ | $ | $ | $ |
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........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ |
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, 2026)
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, 2025.
The Board of Trustees of the Fund approved the liquidation of the Fund. After the close of business on August 12, 2026, the Fund no longer accepted creation orders. Trading in the Fund halted prior to market open on August 13, 2026. Proceeds of the liquidation were sent to shareholders on August 17, 2026.
The contractual fee waiver has been extended through November 29, 2030.
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 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.
©2026 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-07/26-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, 2026, the Fund returned 14.58%.
For the same period, the MSCI All Country World Index (Net) returned 22.11%, the Bloomberg U.S. Universal Index returned 3.02% and the BlackRock ESG Aware Balanced Allocation Index returned 14.61% .
What contributed to performance?
U.S. equities were the largest contributor to the Fund’s return during the reporting period. Semiconductors and semiconductor equipment stocks benefited from robust demand for artificial intelligence (“AI”), cloud computing, and data center infrastructure, with high-performance chipmakers among the standout performers. Technology hardware, storage, and peripherals companies also advanced, supported by resilient consumer demand, improving pricing trends, and growing enterprise and hyperscale storage needs driven by AI-related data growth. International developed stocks also contributed. As the Bank of Japan exited its accommodative interest rate policy, multiple rate hikes lifted borrowing margins and boosted profitability for banking stocks in Japan’s financials sector. In emerging markets, South Korea's information technology sector was another beneficiary of the AI boom, due to surging global demand for advanced memory chips, which lifted export volumes, pushed prices sharply higher, and drove record profits and market valuations for the country's leading chipmakers. In the fixed-income allocation, securitized bonds and Treasury securities modestly contributed to the Fund’s return.
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, 2026
Initial Investment of $10,000
Fund | MSCI All Country World Index (Net) | Bloomberg U.S. Universal Index | BlackRock ESG Aware Balanced Allocation 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 | $ | $ | $ | $ |
Aug 25 | $ | $ | $ | $ |
Sep 25 | $ | $ | $ | $ |
Oct 25 | $ | $ | $ | $ |
Nov 25 | $ | $ | $ | $ |
Dec 25 | $ | $ | $ | $ |
Jan 26 | $ | $ | $ | $ |
Feb 26 | $ | $ | $ | $ |
Mar 26 | $ | $ | $ | $ |
Apr 26 | $ | $ | $ | $ |
May 26 | $ | $ | $ | $ |
Jun 26 | $ | $ | $ | $ |
Jul 26 | $ | $ | $ | $ |
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........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ |
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, 2026)
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 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, 2025.
The Board of Trustees of the Fund approved the liquidation of the Fund. After the close of business on August 12, 2026, the Fund no longer accepted creation orders. Trading in the Fund halted prior to market open on August 13, 2026. Proceeds of the liquidation were sent to shareholders on August 17, 2026.
The contractual fee waiver has been extended through November 29, 2030.
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 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.
©2026 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-07/26-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, 2026, the Fund returned 18.56%.
For the same period, the MSCI All Country World Index (Net) returned 22.11%, the Bloomberg U.S. Universal Index returned 3.02% and the BlackRock ESG Aware Aggressive Allocation Index returned 18.57%.
What contributed to performance?
U.S. equities were the largest contributor to the Fund’s return during the reporting period. Semiconductors and semiconductor equipment stocks benefited from robust demand for artificial intelligence (“AI”), cloud computing, and data center infrastructure, with high-performance chipmakers among the standout performers. Technology hardware, storage, and peripherals companies also advanced, supported by resilient consumer demand, improving pricing trends, and growing enterprise and hyperscale storage needs driven by AI-related data growth. International developed stocks also contributed. As the Bank of Japan exited its accommodative interest rate policy, multiple rate hikes lifted borrowing margins and boosted profitability for banking stocks in Japan’s financials sector. In emerging markets, South Korea's information technology sector was another beneficiary of the AI boom, due to surging global demand for advanced memory chips, which lifted export volumes, pushed prices sharply higher, and drove record profits and market valuations for the country's leading chipmakers.
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, 2026
Initial Investment of $10,000
Fund | MSCI All Country World Index (Net) | Bloomberg U.S. Universal Index | BlackRock ESG Aware Aggressive Allocation 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 | $ | $ | $ | $ |
Aug 25 | $ | $ | $ | $ |
Sep 25 | $ | $ | $ | $ |
Oct 25 | $ | $ | $ | $ |
Nov 25 | $ | $ | $ | $ |
Dec 25 | $ | $ | $ | $ |
Jan 26 | $ | $ | $ | $ |
Feb 26 | $ | $ | $ | $ |
Mar 26 | $ | $ | $ | $ |
Apr 26 | $ | $ | $ | $ |
May 26 | $ | $ | $ | $ |
Jun 26 | $ | $ | $ | $ |
Jul 26 | $ | $ | $ | $ |
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........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ |
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, 2026)
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, 2025.
The Board of Trustees of the Fund approved the liquidation of the Fund. After the close of business on August 12, 2026, the Fund no longer accepted creation orders. Trading in the Fund halted prior to market open on August 13, 2026. Proceeds of the liquidation were sent to shareholders on August 17, 2026.
The contractual fee waiver has been extended through November 29, 2030.
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 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.
©2026 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-07/26-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, 2026, the Fund returned 15.34%.
For the same period, the MSCI USA Index returned 19.09% and the MSCI USA Small Cap Minimum Volatility Index returned 15.52%.
What contributed to performance?
During the reporting period, small-cap stocks in the healthcare sector were the largest contributors to the Fund’s return. As large pharmaceutical firms faced upcoming patent expirations on key drugs, many pursued acquisitions of emerging biotechnology companies to strengthen their development pipelines. The resulting increase in merger and acquisition activity, robust clinical trials, and innovative developments supported investor sentiment across the biotechnology subsector. Property and casualty insurance companies in the financials sector also contributed, driven by strong premium growth, improving underwriting profitability, and lower catastrophe losses. In the real estate sector, healthcare real estate investment trusts benefited from improving senior housing fundamentals, higher occupancy, and limited new supply supporting growth in rental income.
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, 2026
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 | $ | $ | $ |
Aug 25 | $ | $ | $ |
Sep 25 | $ | $ | $ |
Oct 25 | $ | $ | $ |
Nov 25 | $ | $ | $ |
Dec 25 | $ | $ | $ |
Jan 26 | $ | $ | $ |
Feb 26 | $ | $ | $ |
Mar 26 | $ | $ | $ |
Apr 26 | $ | $ | $ |
May 26 | $ | $ | $ |
Jun 26 | $ | $ | $ |
Jul 26 | $ | $ | $ |
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, 2026)
Sector allocation
Ten largest holdings
Sector | Percent of Total InvestmentsFootnote Reference(a) |
|---|---|
Health Care........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
Industrials........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
Information Technology........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
Real Estate........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
Financials........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
Consumer Staples........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
Utilities........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
Energy........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
Consumer Discretionary........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
Communication Services........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
Materials........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ |
Security | Percent of Total InvestmentsFootnote Reference(a) |
|---|---|
Omega Healthcare Investors, Inc......................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................... | |
Pinnacle West Capital Corp......................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................... | |
Agree Realty Corp......................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................... | |
New York Times Co. (The), Class A........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
RenaissanceRe Holdings Ltd......................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................... | |
Hanover Insurance Group, Inc. (The)........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
IDACORP, Inc......................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................... | |
CareTrust REIT, Inc......................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................... | |
OGE Energy Corp......................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................... | |
Service Corp. International........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ |
| 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.
©2026 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-07/26-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, 2026, the Fund returned 17.38%.
For the same period, the S&P Total Market Index returned 19.67% and the STOXX U.S. Equity Factor Index (Spliced) returned 17.53%.
What contributed to performance?
Information technology stocks were the largest contributor to the Fund’s return during the reporting period. In the technology, hardware, storage, and peripherals subsector, companies benefited from resilient consumer demand and continued growth in services. Additionally, technology hardware and data storage companies advanced on improving pricing trends and increased demand for enterprise and hyperscale storage solutions driven by artificial intelligence (“AI”)-related data growth. Semiconductors and semiconductor equipment stocks were supported by robust demand for AI, cloud computing, and data center infrastructure. Makers of high-performance AI chips were standout performers, as their products have become essential infrastructure for cloud providers and businesses adopting AI at scale. In the healthcare sector, pharmaceuticals stocks gained amid strong demand for GLP-1 therapies targeting obesity and diabetes, alongside continued innovation in oncology and immunology.
What detracted from performance?
During the reporting period, software and services stocks detracted from the Fund’s return amid investor concerns that AI tools could disrupt the revenue models of traditional software businesses.
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, 2016 through July 31, 2026
Initial Investment of $10,000
Fund | S&P Total Market Index | STOXX U.S. Equity Factor Index (Spliced) | |
|---|---|---|---|
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 | $ | $ | $ |
Aug 25 | $ | $ | $ |
Sep 25 | $ | $ | $ |
Oct 25 | $ | $ | $ |
Nov 25 | $ | $ | $ |
Dec 25 | $ | $ | $ |
Jan 26 | $ | $ | $ |
Feb 26 | $ | $ | $ |
Mar 26 | $ | $ | $ |
Apr 26 | $ | $ | $ |
May 26 | $ | $ | $ |
Jun 26 | $ | $ | $ |
Jul 26 | $ | $ | $ |
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 STOXX U.S. Equity Factor Index (Spliced) reflects the performance of the MSCI USA Diversified Multiple-Factor Index through May 31, 2022 and the STOXX U.S. Equity Factor Index thereafter, which reflect the times when each index was the Underlying Index of the Fund.
What did the Fund invest in?
(as of July 31, 2026)
Sector allocation
Ten largest holdings
Sector | Percent of Total InvestmentsFootnote Reference(a) |
|---|---|
Information Technology........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
Financials........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
Consumer Discretionary........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
Communication Services........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
Health Care........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
Industrials........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
Consumer Staples........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
Energy........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
Utilities........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
Materials........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
Real Estate........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ |
Security | Percent of Total InvestmentsFootnote Reference(a) |
|---|---|
NVIDIA Corp......................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................... | |
Apple, Inc......................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................... | |
Microsoft Corp......................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................... | |
Alphabet, Inc., Class C, NVS........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
Amazon.com, Inc......................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................... | |
Broadcom, Inc......................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................... | |
Meta Platforms, Inc., Class A........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
JPMorgan Chase & Co......................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................... | |
Visa, Inc., Class A........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
Micron Technology, 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.
©2026 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-07/26-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. Small-Cap Equity Factor ETF | $ |
How did the Fund perform last year?
For the reporting period ended July 31, 2026, the Fund returned 25.83%.
For the same period, the S&P Total Market Index returned 19.67% and the STOXX U.S. Small-Cap Equity Factor Index (Spliced) returned 25.93%.
What contributed to performance?
During the reporting period, small-cap stocks in the healthcare sector were the largest contributors to the Fund’s return. As large pharmaceutical firms faced upcoming patent expirations on key drugs, many pursued acquisitions of emerging biotechnology companies to strengthen their development pipelines. The resulting increase in merger and acquisition activity, as well as robust clinical trials and innovative developments, supported investor sentiment across the biotechnology subsector. Across the information technology sector, demand for artificial intelligence (“AI”) data center infrastructure, continued investment in digital infrastructure, and growing adoption of AI applications supported stocks across the sector. Stocks in the industrials sector also benefited from strong demand for data center capacity, which supported investment in power infrastructure, electrical equipment, and related construction and engineering projects.
What detracted from performance?
During the reporting period, software and services stocks detracted from the Fund’s return amid investor concerns that AI tools could disrupt the revenue models of traditional software businesses.
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, 2016 through July 31, 2026
Initial Investment of $10,000
Fund | S&P Total Market Index | STOXX U.S. Small-Cap Equity Factor Index (Spliced) | |
|---|---|---|---|
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 | $ | $ | $ |
Aug 25 | $ | $ | $ |
Sep 25 | $ | $ | $ |
Oct 25 | $ | $ | $ |
Nov 25 | $ | $ | $ |
Dec 25 | $ | $ | $ |
Jan 26 | $ | $ | $ |
Feb 26 | $ | $ | $ |
Mar 26 | $ | $ | $ |
Apr 26 | $ | $ | $ |
May 26 | $ | $ | $ |
Jun 26 | $ | $ | $ |
Jul 26 | $ | $ | $ |
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 STOXX U.S. Small-Cap Equity Factor Index (Spliced) reflects the performance of the MSCI USA Small Cap Diversified Multiple-Factor Index through February 28, 2023 and the STOXX U.S. Small-Cap Equity Factor Index thereafter, which reflect the times when each index was the Underlying Index of the Fund.
What did the Fund invest in?
(as of July 31, 2026)
Sector allocation
Ten largest holdings
Sector | Percent of Total InvestmentsFootnote Reference(a) |
|---|---|
Industrials........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
Information Technology........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
Financials........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
Health Care........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
Consumer Discretionary........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
Real Estate........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
Energy........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
Materials........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
Communication Services........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
Consumer Staples........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
Utilities........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ |
Security | Percent of Total InvestmentsFootnote Reference(a) |
|---|---|
EMCOR Group, Inc......................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................... | |
Interactive Brokers Group, Inc., Class A........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
nVent Electric plc........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
Flex Ltd......................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................... | |
Jabil, Inc......................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................... | |
Astera Labs, Inc......................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................... | |
Tapestry, Inc......................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................... | |
Natera, Inc......................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................... | |
Williams-Sonoma, Inc......................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................... | |
Mueller Industries, 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.
©2026 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-07/26-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, 2026, the Fund returned 21.62%.
For the same period, the ICE U.S. 3000 Index returned 20.03% and the NYSE FactSet U.S. Tech Breakthrough Index returned 21.96%.
What contributed to performance?
During the reporting period, the information technology sector was the leading contributor to the Fund’s return. Semiconductors and semiconductor equipment stocks benefited from robust demand for artificial intelligence (“AI”), cloud computing, and data center infrastructure. In the technology, hardware, storage, and peripherals subsector, companies benefited from resilient consumer demand and continued growth in services. Additionally, technology hardware and data storage companies advanced on improving pricing trends and increased demand for enterprise and hyperscale storage solutions driven by AI-related data growth. Companies in the healthcare sector also contributed. As large pharmaceutical firms faced upcoming patent expirations on key drugs, many pursued acquisitions of emerging biotechnology companies to strengthen their development pipelines. The resulting increase in merger and acquisition activity, as well as robust clinical trials and innovative developments, supported investor sentiment across both the biotechnology and pharmaceuticals subsectors.
What detracted from performance?
During the reporting period, software and services stocks detracted from the Fund’s return amid investor concerns that AI tools could disrupt the revenue models of traditional software businesses.
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, 2026
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 | $ | $ | $ |
Aug 25 | $ | $ | $ |
Sep 25 | $ | $ | $ |
Oct 25 | $ | $ | $ |
Nov 25 | $ | $ | $ |
Dec 25 | $ | $ | $ |
Jan 26 | $ | $ | $ |
Feb 26 | $ | $ | $ |
Mar 26 | $ | $ | $ |
Apr 26 | $ | $ | $ |
May 26 | $ | $ | $ |
Jun 26 | $ | $ | $ |
Jul 26 | $ | $ | $ |
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, 2026)
Sector allocation
Ten largest holdings
Sector | Percent of Total InvestmentsFootnote Reference(a) |
|---|---|
Information Technology........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
Health Care........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
Communication Services........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
Financials........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
Consumer Discretionary........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
Real Estate........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
Industrials........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
Energy........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ |
Security | Percent of Total InvestmentsFootnote Reference(a) |
|---|---|
Palo Alto Networks, Inc......................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................... | |
Microsoft Corp......................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................... | |
Amazon.com, Inc......................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................... | |
Merck & Co., Inc......................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................... | |
Visa, Inc., Class A........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
Advanced Micro Devices, Inc......................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................... | |
Apple, Inc......................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................... | |
NVIDIA Corp......................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................... | |
Alphabet, Inc., Class A........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
Meta Platforms, 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 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.
©2026 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-07/26-AR