| Investment Objective: |
The iShares U.S. Select Equity Active ETF (the "Fund") seeks to achieve long-term capital growth. Under normal circumstances, the Fund invests at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in equity securities of U.S. issuers and derivatives with similar economic characteristics. The Fund is actively managed using an unconstrained investment style (i.e., it will not take a benchmark index into account when selecting the Fund's investments). For purposes of the Fund's 80% policy, equity securities are considered to be those of U.S. issuers where (i) the company is domiciled in the U.S., (ii) the company is listed on a U.S. stock exchange, (iii) the company's principal operations are conducted in the U.S. or the company does a substantial amount of business in the U.S. or (iv) the issuer of securities is included in the Fund's primary U.S. benchmark. Such equity securities include, but are not limited to, common stock, preferred stock, warrants, depositary receipts, and securities and other instruments whose price is linked to the value of common stock. The Fund may invest up to 20% of its assets in equity securities of foreign issuers, including American Depositary Receipts ("ADRs") and Global Depositary Receipts ("GDRs"). |
