Form 497K iSHARES TRUST
September 1, 2017
2017 Summary Prospectus |
|
► | iShares Morningstar Small-Cap Value ETF | JKL | NYSE ARCA |
Before you invest, you may want to
review the Fund’s prospectus, which contains more information about the Fund and its risks. You can find the Fund’s prospectus (including amendments and supplements) and other information about the Fund, including the Fund’s
statement of additional information and shareholder report, online at http://us.ishares.com/prospectus. You can also get this information at no cost by calling 1-800-iShares (1-800-474-2737) or by sending an e-mail request to
[email protected], or from your financial professional. The Fund’s prospectus and statement of additional information, both dated September 1, 2017, as amended and supplemented from time to time, are incorporated by reference into
(legally made a part of) this Summary Prospectus.
The Securities and Exchange Commission
(“SEC”) has not approved or disapproved these securities or passed upon the adequacy of this prospectus. Any representation to the contrary is a criminal offense.
iSHARES® MORNINGSTAR SMALL-CAP VALUE ETF
Ticker: JKL | Stock Exchange: NYSE Arca |
Investment Objective
The iShares Morningstar Small-Cap Value ETF (the
“Fund”) seeks to track the investment results of an index composed of small-capitalization U.S. equities that exhibit value characteristics.
Fees and Expenses
The following table describes the fees and expenses that you
will incur if you own shares of the Fund. The investment advisory agreement between iShares Trust (the “Trust”) and BlackRock Fund Advisors (“BFA”) (the “Investment Advisory Agreement”) provides that BFA will pay
all operating expenses of the Fund, except the management fees, interest expenses, taxes, expenses incurred with respect to the acquisition and disposition of portfolio securities and the execution of portfolio transactions, including brokerage
commissions, distribution fees or expenses, litigation expenses and any extraordinary expenses.
You may also incur usual and customary brokerage commissions
and other charges when buying or selling shares of the Fund, which are not reflected in the Example that follows:
Annual
Fund Operating Expenses (ongoing expenses that you pay each year as a percentage of the value of your investments) | ||||||
Management
Fees |
Distribution
and Service (12b-1) Fees |
Other
Expenses |
Total
Annual Fund Operating Expenses | |||
0.30% | None | None | 0.30% |
Example. This Example is intended to help you compare the cost of owning shares of the Fund with the cost of investing in other funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated and
then sell all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same. Although your actual costs may be higher or lower, based
on these assumptions, your costs would be:
1 Year | 3 Years | 5 Years | 10 Years | |||
$31 | $97 | $169 | $381 |
S-1
S-2
S-3
S-4
S-5
S-6
Performance Information
The bar chart and table that follow show how the Fund has
performed on a calendar year basis and provide an indication of the risks of investing in the Fund. Both assume that all dividends and distributions have been reinvested in the Fund. Past performance (before and after taxes) does not necessarily
indicate how the Fund will perform in the future. Supplemental information about the Fund’s performance is shown under the heading Total Return Information in the
Supplemental Information section of the Prospectus.
Year by Year Returns1 (Years Ended December 31)
1 | The Fund’s year-to-date return as of June 30, 2017 was -0.63%. |
The best calendar quarter return during the periods shown above
was 30.27% in the 3rd quarter of 2009; the worst was -25.70% in the 4th quarter of 2008.
Updated performance information may be obtained by visiting our
website at www.iShares.com or by calling 1-800-iShares (1-800-474-2737) (toll free).
Average Annual Total Returns
(for the periods ended December 31, 2016)
One Year | Five Years | Ten Years | |||
(Inception Date: 6/28/2004) | |||||
Return Before Taxes | 27.83% | 15.40% | 8.21% | ||
Return After Taxes on Distributions2 | 26.75% | 14.64% | 7.60% | ||
Return After Taxes on Distributions and Sale of Fund Shares2 | 16.07% | 12.21% | 6.50% | ||
Morningstar ® Small Value IndexSM (Index returns do not reflect deductions for fees, expenses, or taxes) | 27.96% | 15.61% | 8.44% |
2 | After-tax returns in the table above are calculated using the historical highest individual U.S. federal marginal income tax rates and do not reflect the impact of state or local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown, and after-tax returns shown are not relevant to tax-exempt investors or investors who hold shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts (“IRAs”). Fund returns after taxes on distributions and sales of Fund shares are calculated assuming that an investor has sufficient capital gains of the same character from other investments to offset any capital losses from the sale of Fund shares. As a result, Fund returns after taxes on distributions and sales of Fund shares may exceed Fund returns before taxes and/or returns after taxes on distributions. |
S-7
S-8
[THIS PAGE INTENTIONALLY LEFT BLANK]
[THIS PAGE INTENTIONALLY LEFT BLANK]
For more information visit www.iShares.com or
call 1-800-474-2737
IS-SP-JKL-0917
Investment Company Act file No.: 811-09729
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Merck Announces First-Quarter 2024 Financial Results
- ALLETE Board of Directors declares dividend on common stock
- Mobileye Releases First Quarter 2024 Results and Provides Business Overview
Create E-mail Alert Related Categories
SEC FilingsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!