iShares Adaptive Currency Hedged MSCI EAFE ETF

C000164987 Fund Overview

iShares Adaptive Currency Hedged MSCI EAFE ETF is a US ETF managed by iSHARES TRUST, categorised as Money Market. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.

• Type: US ETF
• Manager: iSHARES TRUST
• Category: Money Market
• Assets under management: $6.45M
• 1-year return: 37.2%
• SEC CIK: 0001100663
• SEC series ID: S000052533
• Share class ID: C000164987

C000164987 Investment Objective and Strategy

iShares Adaptive Currency Hedged MSCI EAFE ETF describes its objective and strategy as follows, from its latest prospectus filed with the SEC by iSHARES TRUST.

Investment objective

The iShares Adaptive Currency Hedged MSCI EAFE ETF (the “Fund”) seeks to track the investment results of an index composed of large- and mid-capitalization equities in Europe, Australasia, and the Far East while dynamically hedging currency risk for a U.S. dollar based investor.

Principal investment strategy

The Fund seeks to track the investment results of the MSCI EAFE Adaptive Hedge to USD Index (the Underlying Index), which has been developed by MSCI Inc. (the Index Provider or MSCI) as an equity benchmark for international stock performance with the foreign currency exposure of the securities included in the Underlying Index dynamically hedged against the U.S. dollar. The Index Provider systematically determines the hedging weights through analysis of four currency risk indicators: carry, momentum, value, and volatility. As of July 31, 2018, the Underlying Index consisted of securities from the following countries or regions: Australia, Austria, Belgium, Denmark, Finland, France, Germany, Hong Kong, Ireland, Israel, Italy, Japan, the Netherlands, New Zealand, Norway, Portugal, Singapore, Spain, Sweden, Switzerland and the United Kingdom (the U.K.).

The Underlying Index may include large-, mid- or small-capitalization companies. As of July 31, 2018, a significant portion of the Underlying Index is represented by securities of companies in the financials industry or sector. The components of the Underlying Index are likely to change over time. The Fund seeks to achieve its investment objective by investing a substantial portion of its assets in the Underlying Fund. BFA uses a passive or indexing approach to try to achieve the Funds investment objective. Unlike many investment companies, the Fund does not try to beat the index it tracks and does not seek temporary defensive positions when markets decline or appear overvalued. Indexing may eliminate the chance that the Fund will substantially outperform the Underlying Index but also may reduce some of the risks of active management, such as poor security selection.

Indexing seeks to achieve lower costs and better after-tax performance by keeping portfolio turnover low in comparison to actively managed investment companies. BFA uses a representative sampling indexing strategy to manage the Fund and the Underlying Fund. Representative sampling is an indexing strategy that involves investing in a representative sample of securities or other instruments comprising an applicable underlying index. The securities selected are expected to have, in the aggregate, investment characteristics (based on factors such as market capitalization and industry weightings), fundamental characteristics (such as return variability and yield) and liquidity measures similar to those of an applicable underlying index. The Fund and the Underlying Fund may or may not hold all of the securities and other components of the applicable underlying index.

The Fund generally will invest at least 90% of its assets in the component securities (including indirect investments through the Underlying Fund) and other instruments of the Underlying Index and in investments that have economic characteristics that are substantially identical to the component securities of the Underlying Index (i.e., depositary receipts representing securities of the Underlying Index) and may invest up to 10% of its assets in certain futures, options and swap contracts, cash and cash equivalents, including shares of money market funds advised by BFA or its affiliates, as well as in securities not included in the Underlying Index, but which BFA believes will help the Fund track the Underlying Index. Components of the Underlying Index include equity securities and currency forward contracts (both deliverable and non-deliverable) designed to hedge against non-U.S.

currency fluctuations. The Fund seeks to track the investment results of the Underlying Index before fees and expenses of the Fund. In order to track the hedging component of the Underlying Index, which attempts to mitigate currency risk, the Fund intends to enter into currency forward contracts designed to offset the Funds holdings in component securities denominated in a non-U.S. dollar currency. A currency forward contract is a contract between two parties to buy or sell a specified amount of a specific currency in the future at an agreed-upon exchange rate. The Funds exposure to currency forward contracts is based on the exposure of the Fund to the component securities and a hedge ratio (Hedge Ratio), as calculated by MSCI. The Underlying Index applies a methodology, based on the Hedge Ratio, that sells the total value or a portion of the total value of each non-U.S.

dollar currency in which the securities of the Underlying Index are denominated in the form of a one-month currency contract to create a hedge against fluctuations in the relative value of the currencies in relation to the U.S. dollar. The Hedge Ratio is based on four commonly used indicators for measuring currency risk, which are equally weighted and include: value (relative purchasing power between the foreign currency and the U.S. dollar based on exchange rates over a long-term average), momentum (relative price momentum of the foreign currency compared against the U.S. dollar over the previous six months), carry (differences in short-term interest rates between the foreign currency and the U.S. dollar over a long-term average), and volatility (relative price volatility of the foreign currency based on the currencys one-month average against its six-month average).

The overall effect, since the four indicators are equally weighted, is that each foreign currency represented by constituent weights in the Underlying Index can be unhedged, 25% hedged, 50% hedged, 75% hedged or fully hedged relative to the U.S. dollar. The hedge (based on the Hedge Ratio) is reset on a monthly basis by MSCI and will not be adjusted intra-month based on movement in the value of the underlying equity securities and/or currencies, or based on the four indicators. The Underlying Index may therefore be slightly over-hedged (if equity values decline) or under-hedged (if the equity values increase) between the month-end rebalances. The Underlying Index is therefore intended to have higher returns than an equivalent unhedged investment when the non-U.S. dollar component currencies are weakening relative to the U.S.

dollar. Conversely, the Underlying Index is therefore intended to have lower returns than an equivalent unhedged investment when the non-U.S. dollar component currencies are strengthening relative to the U.S. dollar. While the use of currency forward contracts, based on the Hedge Ratio, is designed to minimize the impact of the strengthening or weakening of a foreign currency on Fund returns, it does not necessarily eliminate the Funds exposure to the non-U.S. dollar component currencies. The return of the currency forward contracts may not perfectly offset the actual fluctuations in value between the non-U.S. dollar component currencies and the U.S. dollar. The Fund may use non-deliverable forward (NDF) contracts to execute its hedging transactions. An NDF is a contract where there is no physical settlement of two currencies at maturity.

Rather, based on the movements of the currencies and the contractually agreed-upon exchange rate, a net cash settlement will be made by one party to the other. The Fund may lend securities representing up to one-third of the value of the Fund's total assets (including the value of any collateral received). The Underlying Index is sponsored by MSCI, which is independent of the Fund and BFA. The Index Provider determines the composition and relative weightings of the securities and currency forwards in the Underlying Index and publishes information regarding the market value of the Underlying Index. Industry Concentration Policy. The Fund will concentrate its investments (i.e., hold 25% or more of its total assets) in a particular industry or group of industries to approximately the same extent that the Underlying Index is concentrated.

For purposes of this limitation, securities of the U.S. government (including its agencies and instrumentalities) and repurchase agreements collateralized by U.S. government securities are not considered to be issued by members of any industry.

C000164987 Performance

Total returns for C000164987 (as of 2026-10-01), from SEC filings.

C000164987 Risk Information

Risk metrics for C000164987, derived from monthly returns in SEC filings.

• 1-year volatility (annualised): 15.1%

C000164987 Costs and Fees

C000164987 costs about $35 per $10,000 invested per year in fund expenses.

• Net expense ratio: 0.35%
• Gross expense ratio: 0.70%
• Portfolio turnover: 5%
• Brokerage commissions: 0.11 bps of average net assets (SEC N-CEN)

C000164987 Cashflows

Over the 12 months to 2021-04, iShares Adaptive Currency Hedged MSCI EAFE ETF had net inflows of $0, from monthly SEC N-PORT filings.

C000164987 Debt Constituents

No individual debt constituents are reported in iShares Adaptive Currency Hedged MSCI EAFE ETF's latest SEC N-PORT filing.

C000164987 Prospectus and SEC Filings

Official iShares Adaptive Currency Hedged MSCI EAFE ETF filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.

• Prospectus (485BPOS) — filed 2020-11-23
• Prospectus (485BPOS) — filed 2019-12-16
• Prospectus supplement (497) — filed 2020-09-08
• Portfolio holdings (N-PORT) — filed 2021-06-28
• Portfolio holdings (N-PORT) — filed 2021-03-31
• Portfolio holdings (N-PORT) — filed 2020-12-28
• Annual census (N-CEN) — filed 2021-10-14
• Annual census (N-CEN) — filed 2020-10-14

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Data Sources

ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.