iShares Trust
04/20/2026 | Press release | Distributed by Public on 04/20/2026 14:49
Prospectus by Investment Company (Form 497)
iShares®
iShares Trust
Supplement dated April 20, 2026
to the currently effective Summary Prospectus, Prospectus, and
Statement of Additional Information (the "SAI")
for the iShares ESG Aware MSCI USA ETF (ESGU) (the "Fund")
The Fund is updating its investment policy to indicate that it intends to be "diversified," as defined under the Investment Company Act of 1940, as amended (the "1940 Act"), in approximately the same proportion as its Underlying Index is diversified. Shareholder approval will not be sought if the Fund crosses from diversified to non-diversified status due solely to a change in the relative market capitalization or index weighting of the constituents of its Underlying Index.
Accordingly, the following changes are effective immediately:
| 1. | The following is added after the Industry Concentration Policy at the end of the section entitled "Principal Investment Strategies" of the Summary Prospectus and Prospectus of the Fund: |
Diversification Policy. The Fund intends to be diversified in approximately the same proportion as the Underlying Index is diversified. The Fund may become "non-diversified," as defined under the 1940 Act, solely as a result of a change in relative market capitalization or index weighting of one or more constituents of the Underlying Index. Shareholder approval will not be sought if the Fund becomes "non-diversified" due solely to a change in the relative market capitalization or index weighting of one or more constituents of the Underlying Index. The Fund discloses its portfolio holdings and weightings at www.iShares.com.
| 2. | The following is added to the section entitled "Summary of Principal Risks" in the Summary Prospectus and Prospectus of the Fund: |
Non-Diversification Risk. To the extent the Fund is non-diversified, the Fund may invest a large percentage of its assets in securities or other instruments representing a small number of issuers or counterparties and thus may be more susceptible to the risks associated with these particular issuers or counterparties. As a result, the Fund's performance may depend to a greater extent on the performance of a small number of issuers or counterparties, which may lead to more volatility in the Fund's NAV.
| 3. | In the table under the section entitled "Additional Information About the Funds' Risks" in the Prospectus of the Fund, Non-Diversification Risk is checked as a Principal Risk of the Fund. |
| 4. | In the diversification status table of the section entitled "Diversification Status" of the SAI of the Fund, an asterisk (*) is added after the Fund's name. |
| 5. | The last sentence of the first paragraph following the diversification status table of the section entitled "Diversification Status" of the SAI of the Fund is deleted in its entirety and replaced with the following as described below: |
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However, while the iShares ESG Aware MSCI USA ETF and iShares MSCI Japan Value ETF are classified as "diversified," under applicable no-action relief from the SEC staff, the funds may become non-diversified, as defined under the 1940 Act, solely as a result of a change in relative market capitalization or index weighting of one or more constituents of its Underlying Index, and such a change does not require shareholder approval.
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If you have any questions, please call 1-800-iShares (1-800-474-2737).
iShares® is a registered trademark of BlackRock Fund Advisors and its affiliates.
IS-A-ESGU-0426
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iShares Trust published this content on April 20, 2026, and is solely responsible for the information contained herein. Distributed via EDGAR on April 20, 2026 at 20:49 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]