iShares
POTENTIAL USE
Access a variety of income-oriented exposures in a single trade
EXPOSURE
A portfolio of iShares ETFs including bonds, equities, and alternative income sources like preferreds
FUND NAME
iShares Morningstar Multi-Asset Income Index Fund

iShares Asset Class Breakdown as of 5/23/2013

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Asset Class %  
 
Domestic Fixed Income
46.47%
 
Domestic Equity
22.20%
 
Domestic Real Estate
14.37%
 
International Fixed Income
12.82%
 
International Equity
4.06%
 
Cash and Collateral
0.08%

Top Holdings* as of 5/23/2013

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Name % of Fund
ISHARES IBOXX H/Y CORPORATE BOND 19.94%
ISHARES BARCLAYS 20+ YEAR TR 14.72%
ISHARES FTSE NAREIT MORTGAGE 14.37%
ISHARES JP MORGAN EM BOND FD 12.82%
ISHARES DJ SELECT DIVIDEND 9.84%
ISHARES HIGH DIVIDEND EQ FD 7.35%
ISHARES BARCLAYS 10-20 YEAR TR 6.88%
ISHARES S&P PREF STK INDX FN 5.01%
ISHARES 10+ YEAR CREDIT BOND 4.93%
ISHARES S&P GLOBAL INFRASTR 4.06%
BLACKROCK FDS III 0.07%
Total100.00%
*Holdings are subject to change.

Avg. Annualized Total Returns (NAV) qtr. as of 3/31/2013

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  1 Year 3 Years 5 Years 10 Years Since Inception
IYLD -- -- -- -- --
Index Index

Morningstar Multi-Asset High Income Index

 		12.20% -- -- -- 12.82%

Yield as of 4/30/2013

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Description %
30-Day SEC Yield 30-Day SEC Yield

A standard yield calculation developed by the Securities and Exchange Commission that allows for fairer comparisons among bond funds. It is based on the most recent 30-day period. This yield figure reflects the interest earned during the period after deducting the fund's expenses for the period.

For funds holding To-Be-Announced (TBA) contracts, the 30 day SEC yield includes income earned on cash holdings and direct holdings of mortgage pools, net of fund expenses . Certain funds obtain a significant amount of its mortgage market exposure through TBA transactions. Those Funds invest cash pending settlement of any TBA transactions in high-quality, liquid short-term instruments. TBA contracts provide the fund with economic exposure to the mortgage market. The income that they generate is paid out in fund distributions but is not included in the SEC yield calculation. As a result, for funds holding TBA contracts, the SEC yield will generally be below the stated fund distribution yield.

5.45%
12-Month Yield 12-Month Yield

The yield an investor would have received if they had held the fund over the last twelve months assuming the most recent NAV. The 12-Month yield is calculated by summing any income distributions over the past twelve months and dividing by the sum of the most recent NAV and any capital gain distributions made over the past twelve months.
as of 4/30/2013 		4.86%

Fundamentals & Risk as of 4/30/2013

Description Value
Price to Earnings Ratio Price to Earnings Ratio

The price to earnings ratio is a fundamental measure used to determine if an investment is valued appropriately. Each holdings' p/e is the latest closing price divided by the latest 12 months' earnings per share. Negative earnings are excluded, extraordinary items are excluded, and p/e ratios over 60 are set to 60.

 		6.06
Price to Book Ratio Price to Book Ratio

The price to book value ratio is a fundamental measure used to determine if an investment is valued appropriately. The book value of a company is a measure of how much a company's assets are worth assuming the company's debts are paid off. Negative book values are excluded from this calculation and holding price to book ratios over 25 are set to 25.

 		1.00
Beta Beta (vs S&P 500)

Beta measures the risk of the fund compared to market benchmark. Statistically, it is the covariance of the fund and benchmark, divided by the variance of the benchmark.
vs S&P 500 		0.19
Standard Deviation (3 year) Standard Deviation

The Standard Deviation is the statistical measure of the degree to which an individual value in a probability distribution tends to vary from the mean of the distribution. It is widely applied in modern portfolio theory, where the past performance of securities is used to determine the range of possible future performance, and a probability is attached to each performance.

 		--

Profile as of 5/24/2013

Description Value
Total Net Assets$129,580,481

Expense Ratio

0.60%
Shares Outstanding4,850,000
Number of Holdings
as of 5/23/2013		 2454
Inception Date4/3/2012
IndexMorningstar Multi-Asset High Income Index
Index TickerMAHIT
Net Asset Value
as of 5/24/2013		 $26.72
  • $-0.05
  • -0.19%

Price

as of 5/15/2013 		$27.01
  • $0.26
  • 0.97%
The performance quoted represents past performance and does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor's shares, when sold or redeemed, may be worth more or less than the original cost. Current performance may be lower or higher than the performance quoted. This information must be accompanied by standardized returns. For standardized returns and performance data current to the most recent month end, click the "Performance" tab above.

Fees & Expenses

Expense Detail

%
Management Fees 0.25%
+ Acquired Fund Fees & Expenses ‡ 0.41%
= Total Annual Fund Operating Expenses 0.66%
− Fee Waivers * 0.06%
= Net Expenses * 0.60%

Trading Information

Identifier Type Symbol
TickerIYLD
Index TickerMAHIT
NAVIYLD.NV
Underlying Trading ValueIYLD.IV
Shares OutstandingIYLD.SO
Estimated CashIYLD.EU
Total CashIYLD.TC
CUSIP46432F875

Why iShares?

  • Professional quality – iShares delivers quality products that can help you navigate today’s volatile markets
  • Individual choice – As your partner, iShares helps you execute investment ideas with insights and support
  • Responsible innovation – iShares is an industry leader in making investing clear, fair, and efficient for you

Video

Introduction to the Morningstar multi-asset high income index  

Understanding the importance of considering income streams from different asset groups. (7 mins)

Watch
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Related Resources

** For more information on S&P fund credit ratings, please click here.

Carefully consider the iShares Funds' investment objectives, risk factors, and charges and expenses before investing. This and other information can be found in the Funds' prospectuses, which may be obtained by calling 1-800-iShares (1-800-474-2737), or by viewing or downloading a prospectus. Read the prospectus carefully before investing.

Investing involves risk, including possible loss of principal.

Certain iShares funds are subject to management fee breakpoints as assets increase. The breakpoints take effect immediately after asset tier levels are reached, thus a fund's actual management fee being applied may not match the fund's web site or prospectus on a given day.

‡ “Acquired Fund Fees and Expenses” reflect the Fund's pro rata share of the indirect fees and expenses incurred by investing in one or more acquired funds, such as mutual funds, business development companies, or other pooled investment vehicles. Acquired Fund Fees and Expenses are reflected in the prices of the acquired funds and thus included in the total returns of the Fund.

*BlackRock Fund Advisors, the investment adviser to the iShares Morningstar Multi-Asset Income Index Fund and an affiliate of BlackRock Investments, LLC, has contractually agreed to waive a portion of its management fees in order to limit Net Expenses to 0.60% through December 31, 2014.

The iShares Funds ("Funds") are distributed by BlackRock Investments, LLC (together with its affiliates, "BlackRock").

Asset allocation models and diversification do not promise any level of performance or guarantee against loss of principal. Investment in the fund is subject to the risks of the underlying funds.

There is no guarantee that the fund will generate high income.

Index returns are for illustrative purposes only and do not represent actual iShares performance. Index performance returns do not reflect any management fees, transaction costs or expenses. Indexes are unmanaged and one cannot invest directly in an index. Past performance does not guarantee future results.

Morningstar® and Morningstar® Multi-Asset High Income Index(SM) are trademarks or servicemarks of Morningstar, Inc., and have been licensed for use by BlackRock. iShares Funds are not sponsored, endorsed, issued, sold or promoted by Morningstar, Inc. Nor does this company make any representation regarding the advisability of investing in iShares Funds. Index data source: Morningstar.

Shares of iShares Funds are bought and sold at market price (not NAV) and are not individually redeemed from the Fund. Brokerage commissions will reduce returns.

© 2000-2013 BlackRock. All rights reserved. iSHARES and BLACKROCK are registered trademarks of BlackRock. All other marks are the property of their respective owners.

© 2000-2013

Introduction to the Morningstar multi-asset high income index

Understanding the importance of considering income streams from different asset groups. (7 mins)