BlackRock Global Long/Short Credit Absolute Return Credit
Important Notes
iShares ETFs are not sponsored, endorsed, issued, sold, or promoted by Markit Indices Limited, nor does this company make any representation
regarding the advisability of investing in the Funds. BlackRock is not affiliated with Markit Indices Limited. Shares of ETFs are bought and sold at
market price (not NAV) and are not individually redeemed from the Fund. Brokerage commissions will reduce returns. Market returns are based upon
the midpoint of the bid/ask spread at 4:00 p.m. Eastern time (when NAV is normally determined for most ETFs), and do not represent the returns you
would receive if you traded shares at other times.
Morningstar disclosure: The Morningstar Rating TM for funds, or "star rating", is calculated for managed products (including mutual funds, variable
annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history.
Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a
Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product's monthly excess performance, placing more emphasis
on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars, the next 22.5%
receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for
a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable)
Morningstar Rating metrics. The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for
60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the
10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest
impact because it is included in all three rating periods. The fund was rated against the following number of U.S.-domiciled Long-Short Credit funds
over the following time periods: 35 in the last 3 years and 14 in the last 5 years. With respect to these Long-Short Credit funds, the fund received a
Morningstar Rating of 3- and 4 stars for the 3 and 5-year periods, respectively. Other classes may have different performance.
Prepared by Black Rock Investments, LLC, member FINRA
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