iShares Large Cap Moderate Quarterly Laddered ETF (iShares Large Cap Moderate Quar) ETF

Under normal market conditions, the fund invests at least 80% of its net assets (plus any borrowings for investment purposes) in equity securities of large capitalization companies or instruments with similar economic characteristics. For purposes of the fund’s 80% policy, “large capitalization companies” are those within the range of capitalizations of the underlying ETF’s index. The fund is non-diversified.