iShares Morningstar Mid-Cap Value ETF IMCV Strategy

The investment seeks to track the investment results of the Morningstar® U.S. Mid Cap Broad Value IndexSM composed of mid-capitalization U.S. equities that exhibit value characteristics. The fund seeks to track the investment results of the underlying index, which measures the performance of U.S. stocks issued by mid-capitalization companies that have exhibited “value” characteristics as determined by Morningstar, Inc. The stocks in the index are designated as “value” because they are issued by companies that typically have relatively low valuations based on price-to-earnings, price-to-book value, price-to-sales, price-to-cash flow and dividend yields.