iShares Yield Optimized Bond ETF (BYLD)

The investment seeks to track the investment results of the Morningstar® U.S. Bond Market Yield-Optimized IndexSM. The fund invests primarily in underlying funds that themselves seek investment results corresponding to their own underlying indexes. It also invests in a combination of other ETFs (including other iShares ETFs), cash and cash equivalents, including shares of money market funds advised by BFA or its affiliates. The index is a broadly diversified fixed income index that seeks to deliver current income. It will invest at least 90% of its assets in the component securities (including indirect investments through the underlying funds) of the index.