| Investment Objective: |
The iShares Large Cap Moderate Quarterly Laddered ETF (the "Fund") seeks to track the share price return of the iShares Core S&P 500 ETF (the "Underlying ETF") up to an approximate upside limit, while seeking to provide downside protection. The Fund seeks to provide exposure to the share price return of the Underlying ETF up to an approximate upside limit, while seeking to provide downside protection against approximately the first 5% of Underlying ETF losses. The Fund principally buys and sells shares of the Underlying ETF and customized call and put equity or index exchange- traded options contracts that reference the Underlying ETF, referred to as FLexible EXchange Options ("FLEX Options"), as well as other listed options that reference the price performance of the Underlying ETF, the Underlying ETF's Index, or ETFs that replicate the Underlying ETF's Index (collectively, "exchange-traded options"). The Fund seeks to obtain downside protection by employing a "laddered" strategy pursuant to which it buys and sells approximately three-month FLEX Options or other exchange-traded options with overlapping expiration dates. |
