| Investment Objective: |
The Fund seeks to provide investors with returns that generally match the price return (excluding dividends) of the iShares MSCI Emerging Markets ETF with the upside cap while providing a buffer against the first 15% (prior to taking into account management fees and other fees) of iShares MSCI Emerging Markets ETF losses, over the period from May 1, 2026 to April 30, 2027. Under normal circumstances, the Fund will invest at least 80% of its net assets (plus any borrowings for investment purposes) in investments that provide exposure to iShares MSCI Emerging Markets ETF (the "Underlying ETF"). The Fund obtains this exposure primarily through FLEXible EXchange Options ("FLEX Options") on the Underlying ETF. The Fund is designed to seek certain target results (the "Outcomes"), including an upside cap (the "Cap") and a downside buffer of 15% (the "Buffer"), based on the performance of the Underlying ETF's share price (i.e., its "price return") over an approximately one-year period beginning May 1, 2026 and ending April 30, 2027 (each, an "Outcome Period"). |
