iShares®

iShares Trust

iShares U.S. ETF Trust

Supplement dated August 24, 2021 (the “Supplement”)

to the Summary Prospectus (the “Summary Prospectus”),

Prospectus (the “Prospectus”) and

Statement of Additional Information (“SAI”)

for each of the Funds listed in Appendix A (each, a “Fund”)

The information in this Supplement updates information in, and should be read in conjunction with, each Fund’s Summary Prospectus, Prospectus and SAI.

References to the name of the Underlying Index in the Summary Prospectus, Prospectus, and SAI for each Fund except for the BlackRock Short Maturity Bond ETF and BlackRock Short Maturity Municipal Bond ETF are hereby revised as follows:

Former Underlying Index Name	New Underlying Index Name
Bloomberg Barclays 2021 Term High Yield and Income Index	Bloomberg 2021 Term High Yield and Income Index
Bloomberg Barclays 2022 Term High Yield and Income Index	Bloomberg 2022 Term High Yield and Income Index
Bloomberg Barclays 2023 Maturity Corporate Index	Bloomberg 2023 Maturity Corporate Index
Bloomberg Barclays 2023 Maturity High Quality Corporate Index	Bloomberg 2023 Maturity High Quality Corporate Index
Bloomberg Barclays 2023 Term High Yield and Income Index	Bloomberg 2023 Term High Yield and Income Index
Bloomberg Barclays 2024 Term High Yield and Income Index	Bloomberg 2024 Term High Yield and Income Index
Bloomberg Barclays 2025 Term High Yield and Income Index	Bloomberg 2025 Term High Yield and Income Index
Bloomberg Barclays 2026 Term High Yield and Income Index	Bloomberg 2026 Term High Yield and Income Index
Bloomberg Barclays 2027 Term High Yield and Income Index	Bloomberg 2027 Term High Yield and Income Index
Bloomberg Barclays December 2021 Maturity Corporate Index	Bloomberg December 2021 Maturity Corporate Index
Bloomberg Barclays December 2022 Maturity Corporate Index	Bloomberg December 2022 Maturity Corporate Index

Former Underlying Index Name	New Underlying Index Name
Bloomberg Barclays December 2023 Maturity Corporate Index	Bloomberg December 2023 Maturity Corporate Index
Bloomberg Barclays December 2024 Maturity Corporate Index	Bloomberg December 2024 Maturity Corporate Index
Bloomberg Barclays December 2025 Maturity Corporate Index	Bloomberg December 2025 Maturity Corporate Index
Bloomberg Barclays December 2026 Maturity Corporate Index	Bloomberg December 2026 Maturity Corporate Index
Bloomberg Barclays December 2027 Maturity Corporate Index	Bloomberg December 2027 Maturity Corporate Index
Bloomberg Barclays December 2028 Maturity Corporate Index	Bloomberg December 2028 Maturity Corporate Index
Bloomberg Barclays December 2029 Maturity Corporate Index	Bloomberg December 2029 Maturity Corporate Index
Bloomberg Barclays December 2030 Maturity Corporate Index	Bloomberg December 2030 Maturity Corporate Index
Bloomberg Barclays December 2031 Maturity Corporate Index	Bloomberg December 2031 Maturity Corporate Index
Bloomberg Barclays Global Aggregate ex USD 10% Issuer Capped (Hedged) Index	Bloomberg Global Aggregate ex USD 10% Issuer Capped (Hedged) Index
Bloomberg Barclays MSCI Global Green Bond Select (USD Hedged) Index	Bloomberg MSCI Global Green Bond Select (USD Hedged) Index
Bloomberg Barclays MSCI US Aggregate ESG Focus Index	Bloomberg MSCI US Aggregate ESG Focus Index
Bloomberg Barclays MSCI US Corporate 1-5 Year ESG Focus Index	Bloomberg MSCI US Corporate 1-5 Year ESG Focus Index
Bloomberg Barclays MSCI US Corporate ESG Focus Index	Bloomberg MSCI US Corporate ESG Focus Index
Bloomberg Barclays MSCI US High Yield Choice ESG Screened Index	Bloomberg MSCI US High Yield Choice ESG Screened Index
Bloomberg Barclays MSCI US Universal Choice ESG Screened Index	Bloomberg MSCI US Universal Choice ESG Screened Index
Bloomberg Barclays U.S. Agency Bond Index	Bloomberg U.S. Agency Bond Index

Former Underlying Index Name	New Underlying Index Name
Bloomberg Barclays U.S. CMBS (ERISA Only) Index	Bloomberg U.S. CMBS (ERISA Only) Index
Bloomberg Barclays U.S. Convertible Cash Pay Bond > $250MM Index	Bloomberg U.S. Convertible Cash Pay Bond > $250MM Index
Bloomberg Barclays U.S. Corporate Aaa - A Capped Index	Bloomberg U.S. Corporate Aaa - A Capped Index
Bloomberg Barclays U.S. Fixed Income Balanced Risk Index	Bloomberg U.S. Fixed Income Balanced Risk Index
Bloomberg Barclays U.S. GNMA Bond Index	Bloomberg U.S. GNMA Bond Index
Bloomberg Barclays U.S. Government/Credit Bond Index	Bloomberg U.S. Government/Credit Bond Index
Bloomberg Barclays U.S. Intermediate Government/Credit Bond Index	Bloomberg U.S. Intermediate Government/Credit Bond Index
Bloomberg Barclays U.S. Treasury Inflation Protected Securities (TIPS) Index (Series-L)	Bloomberg U.S. Treasury Inflation Protected Securities (TIPS) Index (Series-L)
Bloomberg Barclays U.S. Treasury Inflation-Protected Securities (TIPS) 0-5 Years Index (Series-L)	Bloomberg U.S. Treasury Inflation-Protected Securities (TIPS) 0-5 Years Index (Series-L)
Bloomberg Barclays U.S. Universal 10+ Year Index	Bloomberg U.S. Universal 10+ Year Index
Bloomberg Barclays U.S. Universal 1-5 Year Index	Bloomberg U.S. Universal 1-5 Year Index
Bloomberg Barclays U.S. Universal Index	Bloomberg U.S. Universal Index
Bloomberg Barclays U.S. Aggregate Bond Index	Bloomberg U.S. Aggregate Bond Index
Bloomberg Barclays US Floating Rate Note < 5 Years Index	Bloomberg US Floating Rate Note < 5 Years Index
Bloomberg Barclays US High Yield Fallen Angel 3% Capped Index	Bloomberg US High Yield Fallen Angel 3% Capped Index
Bloomberg Barclays U.S. MBS Index	Bloomberg U.S. MBS Index
Bloomberg Barclays U.S. Treasury Floating Rate Bond Index	Bloomberg U.S. Treasury Floating Rate Bond Index
Bloomberg Barclays U.S. Universal 5-10 Year Index	Bloomberg U.S. Universal 5-10 Year Index

References to the name of the benchmark index in the Summary Prospectus, Prospectus and SAI for each of the BlackRock Short Maturity Bond ETF and BlackRock Short Maturity Municipal Bond ETF are revised as follows:

Former Benchmark Index Name	New Benchmark Index Name
Bloomberg Barclays Short-Term Government/Corporate Index	Bloomberg Short-Term Government/Corporate Index
Bloomberg Barclays Municipal Bond: 1 Year (1-2) Index	Bloomberg Municipal Bond: 1 Year (1-2) Index

Appendix A​​​​​​​​​​​​​​

iShares Trust Funds

Supplement to the Summary Prospectus, Prospectus and SAI each dated as of March 1, 2021:

iShares Core Total USD Bond Market ETF

iShares iBonds Mar 2023 Term Corporate ex-Financials ETF​​​​​​​

Supplement to the Summary Prospectus and Prospectus both dated as of March 1, 2021, and to the SAI dated as of March 1, 2021 (as revised April 1, 2021):

iShares 0-5 Year TIPS Bond ETF

iShares Aaa - A Rated Corporate Bond ETF​​​​​​​

iShares CMBS ETF​​​​​​​​​​​​​​​​​​​​​

iShares Convertible Bond ETF​​​​​​​

iShares Core 1-5 Year USD Bond ETF​​​​​​​

iShares Core International Aggregate Bond ETF

iShares ESG Advanced High Yield Corporate Bond ETF​​​​​​​

iShares Fallen Angels USD Bond ETF​​​​​​​​​​​​​​​​​​​​​

iShares Global Green Bond ETF​​​​​​​​​​​​​​

iShares GNMA Bond ETF​​​​​​​​​​​​​​

iShares iBonds Dec 2021 Term Corporate ETF​​​​​​​​​​​​​​

iShares iBonds Dec 2022 Term Corporate ETF​​​​​​​​​​​​​​

iShares iBonds Dec 2023 Term Corporate ETF​​​​​​​​​​​​​​

iShares iBonds Dec 2024 Term Corporate ETF​​​​​​​​​​​​​​

iShares iBonds Dec 2025 Term Corporate ETF​​​​​​​​​​​​​​

iShares iBonds Dec 2026 Term Corporate ETF​​​​​​​​​​​​​​

iShares iBonds Dec 2027 Term Corporate ETF​​​​​​​​​​​​​​

iShares iBonds Dec 2028 Term Corporate ETF​​​​​​​​​​​​​​

iShares iBonds Dec 2029 Term Corporate ETF​​​​​​​​​​​​​​

iShares iBonds Dec 2030 Term Corporate ETF​​​​​​​​​​​​​​

iShares iBonds Mar 2023 Term Corporate ETF​​​​​​​​​​​​​​

iShares TIPS Bond ETF​​​​​​​​​​​​​​

iShares Treasury Floating Rate Bond ETF​​​​​​​​​​​​​​

iShares U.S. Fixed Income Balanced Risk Factor ETF​​​​​​​​​​​​​​

Supplement to the Summary Prospectus, Prospectus and SAI each dated as of March 1, 2021 (as revised April 1, 2021):

iShares iBonds 2021 Term High Yield and Income ETF​​​​​​​

iShares iBonds 2022 Term High Yield and Income ETF​​​​​​​

iShares iBonds 2023 Term High Yield and Income ETF​​​​​​​

iShares iBonds 2024 Term High Yield and Income ETF

iShares iBonds 2025 Term High Yield and Income ETF​​​​​​​

iShares iBonds 2026 Term High Yield and Income ETF​​​​​​​

iShares Floating Rate Bond ETF​​​​​​​​​​​​​​

Supplement to the Summary Prospectus, Prospectus and SAI each dated as of June 29, 2021:

iShares Agency Bond ETF

iShares Core 5-10 Year USD Bond ETF​​​​​​​

iShares Core 10+ Year USD Bond ETF​​​​​​​

iShares Core U.S. Aggregate Bond ETF​​​​​​​

iShares ESG Advanced Total USD Bond Market ETF​​​​​​​

iShares ESG Aware 1-5 Year USD Corporate Bond ETF​​​​​​​

iShares ESG Aware U.S. Aggregate Bond ETF​​​​​​​

iShares ESG Aware USD Corporate Bond ETF

iShares Government/Credit Bond ETF​​​​​​​

iShares Intermediate Government/Credit Bond ETF​​​​​​​

iShares MBS ETF​​​​​​​

Supplement to the Summary Prospectus dated as of June 23, 2021, Prospectus and SAI each dated as of June 15, 2021:

iShares iBonds Dec 2031 Term Corporate ETF

Supplement to the Summary Prospectus dated as of July 1, 2021 (as revised July 7, 2021), Prospectus dated as of June 23, 2021 (as revised July 7, 2021) and SAI dated as of June 23, 2021:

iShares iBonds 2027 Term High Yield and Income ETF

iShares U.S. ETF Trust Funds

Supplement to the Summary Prospectus and Prospectus both dated as of March 1, 2021, and to the SAI dated as of March 1, 2021 (as revised April 27, 2021):

BlackRock Short Maturity Bond ETF

BlackRock Short Maturity Municipal Bond ETF​​​​​​​

If you have any questions, please call 1-800-iShares (1-800-474-2737).

iShares® is a registered trademark of BlackRock Fund Advisors and its affiliates.

IS-A-BBG-0821

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