Carefully consider the 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 or by viewing or downloading a prospectus. Read the prospectus carefully before investing. Investing involves risk, including possible loss of principal.
Not FDIC Insured * No Bank Guarantee * May Lose Value
Asset allocation may not protect against market risk.
An investment in the fund(s) is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.
Investment comparisons are for illustrative purposes only and not meant to be all-inclusive. For detailed information on the differences between iShares ETFs and mutual funds, please click on the "Know the Differences" button that appears on the top of the screen. To better understand the similarities and differences between investments, including investment objectives, risks, fees, and expenses, it is important to read the products’ prospectuses.
The strategies discussed are strictly for illustrative and educational purposes and should not be construed as a recommendation to purchase or sell, or an offer to sell or a solicitation of an offer to buy any security. There is no guarantee that any strategies discussed will be effective. The information provided is not intended to be a complete analysis of every material fact respecting any strategy. The examples presented do not take into consideration commissions, tax implications, or other transactions costs, which may significantly affect the economic consequences of a given strategy.
Shares of the iShares Funds may be sold throughout the day on the exchange through any brokerage account. However, shares may only be redeemed directly from a Fund by Authorized Participants, in very large creation/redemption units.
The annual management fees of iShares Funds may be substantially less than those of most mutual funds. Buying and selling shares of iShares Funds will result in brokerage commissions, but the savings from lower annual fees can help offset these costs.
All registered investment companies, including iShares Funds, are obliged to distribute portfolio gains to shareholders at year-end regardless of performance. Trading iShares Funds will also generate tax consequences and transaction expenses. Certain traditional mutual funds can be tax efficient as well.
The information provided is not intended to be tax advice. Tax consequences of dividend distributions may vary by individual taxpayer. Past distributions are not indicative of future distributions. Past performance does not guarantee future results. There is no guarantee that dividends will be paid.
Sample screenshots from the iShares.com web site are for illustrative purposes only. Data on any sample screenshot is as of a certain date and there is no representation that it is current, accurate or complete, and should not be relied on as such. Neither is the data representative of any investment. For current iShares Fund information, including fund performance, visit www.iShares.com or call 1 800 iShares.
The iShares Funds registered with the United States Securities and Exchange Commission under the Investment Company Act of 1940 ("Funds") are distributed by SEI Investments Distribution Co. ("SEI"). BlackRock Fund Advisors ("BFA") serves as the investment advisor to the Funds. BFA is a subsidiary of BlackRock Institutional Trust Company, N.A., neither of which is affiliated with SEI.
Neither SEI, or its affiliates, nor BlackRock Institutional Trust Company, N.A., or its affiliates, are affiliated with Balasa Dinverno Foltz LLC or the Tarbox Group.
Neither BlackRock Institutional Trust Company, N.A. and its affiliates nor SEI and its affiliates provide tax advice. Please note that (i) any discussion of U.S. tax matters contained in this communication cannot be used by you for the purpose of avoiding tax penalties; (ii) this communication was written to support the promotion or marketing of the matters addressed herein; and (iii) you should seek advice based on your particular circumstances from an independent tax advisor.
The iShares Funds are not sponsored, endorsed, issued, sold or promoted by Cohen & Steers Capital Management, Inc., Dow Jones & Company, Inc., European Public Real Estate Association ("EPRA®"), FTSE International Limited ("FTSE"), FTSE/Xinhua Index Limited ("FXI"), iBoxx®, J.P. Morgan Securities Inc., MSCI Inc., Morningstar Inc., The NASDAQ OMX Group, Inc., National Association of Real Estate Investment Trusts ("NAREIT"), New York Stock Exchange, Inc., Frank Russell Company, or Standard & Poor's, nor are they sponsored, endorsed, or issued by Barclays Capital. None of these companies make any representation regarding the advisability of investing in the Funds. Neither SEI, nor BlackRock Institutional Trust Company, N.A. nor any of their affiliates, are affiliated with the companies listed above.
FXI does not make any warranty regarding the FTSE/Xinhua Index. All rights in the FTSE/Xinhua Index vest in FXI. Neither FTSE nor NAREIT makes any warranty regarding the FTSE NAREIT Real Estate 50/Residential/Retail/Mortgage REITs or Industrial/Office Index; all rights vest in NAREIT. Neither FTSE nor NAREIT makes any warranty regarding the FTSE EPRA/NAREIT Global Real Estate ex-US/North America/Europe/Asia Index; all rights vest in FTSE, NAREIT, and EPRA. All rights in the FTSE Developed Small Cap ex-North America Index vest in FTSE. "FTSE" is a trade- and servicemark of London Stock Exchange and The Financial Times Limited; "Xinhua" is a trade- and servicemark of Xinhua Financial Network Limited.
iShares® is a registered trademark of BlackRock Institutional Trust Company, N.A. All other trademarks, servicemarks or registered trademarks are the property of their respective owners. This information is not an offer to sell or a solicitation of an offer to buy shares of any iShares Fund to any person in any jurisdiction in which an offer, solicitation, purchase or sale would be unlawful under the securities laws of such jurisdiction.
Note that these examples do not take into consideration account costs, commissions, or other transaction costs which could affect the economic savings of any given strategy.
Sources: Morningstar, BGI, as of 12/31/08. Mutual fund data is for the asset classes included in each portfolio and is based on the oldest share class of active open-end mutual funds to avoid double-counting of multiple share classes.
* Fee savings reflects the difference between mutual fund averages and iShares ETF fees. Active mutual fund fees range from 0.09-2.89% for equity and 0.12-2.18% for fixed income. iShares ETF fees range from 0.09-0.75% for equity and 0.15-0.60% for fixed income.
‡ Tax cost savings reflects the difference between mutual fund averages and iShares ETF tax costs. The tax cost of active mutual funds ranges from 0.00-6.71% for equity and 0.63-4.19% for taxable fixed income. The tax cost of iShares ETFs ranges from 0.00-1.76 for equity and 1.38-1.85 for taxable fixed income. Tax cost calculations are based on a 35% investor tax rate assumption for income and short-term capital gains and a 15% investor tax rate assumption for long-term capital gains. Actual tax costs depend on the investor's tax situation and may be less than those shown.
The portfolios shown are strictly for illustrative and educational purposes and should not be construed as a recommendation to purchase or sell, an offer to sell, or a solicitation of an offer to buy any security.
Investment comparisons are for illustrative purposes only and are not meant to be all-inclusive. For detailed information on the differences between iShares ETFs and mutual funds, please click on the “Know the Differences” button that appears on the top of the screen. To better understand the similarities and differences between investments, including investment objectives, risks, fees, and expenses, it is important to read the products’ prospectuses. The annual management fees of iShares Funds may be substantially less than those of most mutual funds. Buying and selling shares of iShares Funds will result in brokerage commissions, but the savings from lower annual fees can help offset these costs. Mutual funds and iShares Funds are obliged to distribute portfolio gains to shareholders by year-end. Trading shares of the iShares Funds will also generate tax consequences and transaction expenses. Certain traditional mutual funds can be tax-efficient as well.
1. Basic Portfolio: calculations based on the following allocations: 40% IWV, 15% ACWX, 40% AGG, 5% ICF.
2. Expanded Portfolio: calculations based on the following allocations: 30% IWB, 10% IWM, 15% ACWX, 38% AGG, 2% HYG, 5% ICF.
3. Comprehensive Portfolio: calculations based on the following allocations: 15% IWF, 15% IWD, 5% IWO, 5% IWN, 11% EFA, 3% EEM, 1% SCZ, 30% AGG, 2% HYG, 4% MUB, 4% TIP, 5% ICF.
* Sources: Morningstar, BGI. 1-year period ending 12/08. Data is based on the oldest share class of active open-end mutual funds to avoid double-counting of multiple share classes. Funds included had at least $50 million in total fund assets as of analysis date to limit the impact of small funds. Tax cost calculations are based on a 35% investor tax rate assumption for income and short-term capital gains and a 15% investor tax rate assumption for long-term capital gains. Actual tax costs depend on the investor's tax situation and may differ. Past performance does not guarantee future results.
*Sources: Morningstar, BGI. 10-year period ending 12/08. Data is based on the oldest share class of active open-end mutual funds to avoid double-counting of multiple share classes. Funds included had at least $50 million in total fund assets as of analysis date to limit the impact of small funds. Tax cost calculations are based on a 35% investor tax rate assumption for income and short-term capital gains and a 15% investor tax rate assumption for long-term capital gains. Actual tax costs depend on the investor's tax situation and may differ. Past performance does not guarantee future results.
