Management Risk. The Fund is actively managed, and the investment techniques and risk analysis used by the Fund’s portfolio managers may not produce the desired results.
Management Risk. As the fund will not fully replicate the underlying index, it is subject to the risk that BFA’s investment strategy may not produce the intended results.
Management Risk. The Group is initially dependent upon the business manager for the implementation of its strategy and the operation of its activities. The Business Management Agreement is non-terminable during the first 5 years from signing (with certain exceptions). Unless the Business Management Agreement is terminated within the first 5 years, with a notice period of 18 months, the agreement is thereafter prolonged with 2 years at the time until terminated with a notice period of 12 months. There is an uncertainty with regard to the management of the Group in the event of a termination of the Business Management Agreement. In addition, the Group will depend upon the services and products of certain other consultants, contractors and other service providers in order to successfully pursue the Group’s business plan. There is a risk that the Group cannot purchase new management services or other necessary services or products on favourable terms, or at all, which could have an adverse effect on the Group’s business, financial condition and equity returns. Further, should the Group terminate the Business Management Agreement, an exit fee will be payable to the Manager in accordance with the terms of the Master Agreement. Finally, there is a risk that the fees (including any start-up or exit fee) connected to the Business Management Agreement with the business manager, as well as arrangements with the Manager, could have an adverse effect on the Group’s financial condition.
Management Risk. The fund is actively managed and depends heavily on the Adviser’s judgment about markets, interest rates or the attractiveness, relative values, liquidity, or potential appreciation of particular investments made for the fund’s portfolio. The fund could experience losses if these judgments prove to be incorrect. Additionally, legislative, regulatory, or tax developments may adversely affect management of the fund and, therefore, the ability of the fund to achieve its investment objective.
Management Risk. The fund is actively managed and depends heavily on the adviser’s judgment about markets, interest rates or the attractiveness, relative values, liquidity, or potential appreciation of particular investments made for the fund’s portfolio. The fund could experience losses if these judgments prove to be incorrect. Additionally, legislative, regulatory, or tax developments may adversely affect management of the fund and, therefore, the ability of the fund to achieve its investment objective. Fees & Expenses (Based on the prospectus dated December 18, 2020) Total Annual Fund Operating Expenses 0.15% After Fee Waivers and/or Expense Reimbursements iShares 0-5 Year TIPS Bond ETF Investment Objective The iShares 0-5 Year TIPS Bond ETF (the “fund”) seeks to track the investment results of an index composed of inflation-protected U.S. Treasury bonds with remaining maturities of less than five years. Principal Investment Strategies The fund seeks to track the investment results of the Bloomberg Barclays U.S. Treasury Inflation-Protected Securities (TIPS) 0-5 Years Index (series-L) (the “underlying index”), which measures the performance of the inflation-protected public obligations of the U.S. Treasury, commonly known as “TIPS,” that have a remaining maturity of less than five years. TIPS are securities issued by the U.S. Treasury that are designed to provide inflation protection to investors. TIPS are income-generating instruments whose interest and principal payments are adjusted for inflation—a sustained increase in prices that erodes the purchasing power of money. The inflation adjustment, which is typically applied monthly to the principal of the bond, follows a designated inflation index, the non-seasonally adjusted Consumer Price Index for All Urban Consumers (“CPI”), and TIPS’ principal payments are adjusted according to changes in the CPI. A fixed coupon rate is applied to the inflation-adjusted principal so that as inflation rises, both the principal value and the interest payments increase. This can provide investors with a hedge against inflation, as it helps preserve the purchasing power of an investment. Because of this inflation adjustment feature, inflation-protected bonds typically have lower yields than conventional fixed-rate bonds. The underlying index includes all TIPS that have less than five years remaining to maturity, are rated investment-grade (as determined by Bloomberg Index Services Limited (the “index provider” or “Bloomberg”)) and have...
Management Risk. The Group is initially dependent upon the Business Manager for the implementation of its strategy and the operation of its activities. The Business Management Agreement is continual and may be terminated after the earlier of (i) the date that is five years after the date of signing of the Business Management Agreement and (ii) the date on which 2/3 of the shareholders of the Company request it. Termination of the Business Management Agreement after five years as mentioned in (i) shall require 12 months written notice. In the event of termination as mentioned in (ii), such termination shall enter into effect immediately. There is an uncertainty with regard to the management of the Group in the event of a termination of the Business Management Agreement. In addition, the Group will depend upon the services and products of certain other consultants, contractors and other service providers in order to successfully pursue the Group’s business plan. There is a risk that the Group cannot purchase new management services or other necessary services or products on favourable terms, or at all, which could have an adverse effect on the Group’s business, financial condition and equity returns. Further, should the Group terminate the Business Management Agreement, an exit fee will be payable to the Manager in accordance with the terms of the Master Agreement. Finally, there is a risk that the fees (including any start-up or exit fee) connected to the Business Management Agreement with the Business Manager, as well as arrangements with the Manager, may adversely affect the Group’s financial condition, operations and earnings.
Management Risk. Each Fund is subject to management risk because each Fund is actively managed. The investment techniques and risk analyses used by each Fund’s managers may not produce the desired results. In addition, each Fund operates under a “manager-of-managers” struc- ture, which gives the adviser the right, with the prior approval of the Fund’s Board of Trustees and without share- holder approval, to change subadvis- ers. If a subadviser is added or replaced on a Fund, the Fund could experience higher portfolio turnover and higher transaction costs than normal if the new subadviser realigns the portfolio to reflect its investment techniques and philosophy. A realignment of a Fund’s portfolio could result in higher net real- ized capital gains distributions, which could affect the tax efficiency of a Fund negatively.
Management Risk. Each Fund is subject to management risk because each Fund is actively managed. There is no guarantee that the investment techniques and risk analyses used by each Fund’s managers will produce the desired results.
Management Risk. This involves the possibility that the in- vestment techniques and risk analyses used by the Fund’s manager will not produce the desired results.
Management Risk. The Group is initially dependent upon the Business Manager for the implementation of its strategy and the operation of its activities. Although the Business Management Agreement is non-terminable during the first 5 years from signing (with certain exceptions) and thereafter prolonged until terminated with a notice period of 12 months, there is an uncertainty with regard to the management of the Group in the event of a termination of the Business Management Agreement. The Group also depends on the Business Manager to retain and attract skilled personnel to fulfil its obligations under the Business Management Agreement. In addition, the Group will depend upon the services and products of certain other consultants, contractors and other service providers in order to successfully pursue the Group’s business plan. Finally, there is a risk that the fees connected to the Business Management Agreement with the Business Manager, as well as arrangements with the Manager, could have an adverse effect on the Group’s financial condition.
