BlackRock Launches iShares Short Maturity Municipal Bond ETF

NEW YORK--(BUSINESS WIRE)--

BlackRock, Inc. BLK announced today that its iShares Exchange Traded Funds (ETFs) business, the world's largest manager of ETFs, has launched the iShares Short Maturity Municipal Bond ETF MEAR.

iShares Short Maturity Municipal Bond ETF is actively managed by BlackRock's municipal bond team with more than 25 years of investment experience and backed by a dedicated municipal credit research team. An active approach allows the portfolio management and research team to capitalize on municipal opportunities along the front of the yield curve and across the investment grade credit spectrum.

The fund seeks to maximize tax-free income through diversified exposure to short-term municipal bonds by investing in tax-exempt municipal bonds with maturities of less than five years. Under normal circumstances the portfolio will have an effective duration of 1.2 years or less.

iShares Short Maturity Municipal Bond ETF extends iShares current suite of short duration and municipal bond ETFs to provide investors with a wide range of investment choices backed by the investment excellence of BlackRock's fixed income portfolio management team.

About BlackRock

BlackRock is a leader in investment management, risk management and advisory services for institutional and retail clients worldwide. At December 31, 2014, BlackRock's AUM was $4.652 trillion. BlackRock helps clients meet their goals and overcome challenges with a range of products that include separate accounts, mutual funds, iShares^® (exchange-traded funds), and other pooled investment vehicles. BlackRock also offers risk management, advisory and enterprise investment system services to a broad base of institutional investors through BlackRock Solutions^®. Headquartered in New York City, as of September 30, 2014, the firm had approximately 12,100 employees in more than 30 countries and a major presence in key global markets, including North and South America, Europe, Asia, Australia and the Middle East and Africa. For additional information, please visit the Company's website at www.blackrock.com | Twitter: @blackrock_news | Blog: www.blackrockblog.com | LinkedIn: www.linkedin.com/company/blackrock

About iShares

iShares is a global leader in exchange-traded funds (ETFs), with more than a decade of expertise and commitment to individual and institutional investors of all sizes. With over 700 funds globally across multiple asset classes and strategies and more than $1 trillion in assets under management as of December 31, 2014, iShares helps clients around the world build the core of their portfolios, meet specific investment goals and implement market views. iShares funds are powered by the expert portfolio and risk management of BlackRock, trusted to manage more money than any other investment firm.¹

Carefully consider the Funds' investment objectives, risk factors, and charges and expenses before investing. This and other information can be found in the Funds' prospectuses or, if available, the summary prospectuses which may be obtained by visiting www.iShares.com or www.blackrock.com. Read the prospectus carefully before investing.

Investing involves risk, including possible loss of principal.

Diversification may not protect against market risk or loss of principal. Fixed income risks include interest-rate and credit risk. Typically, when interest rates rise, there is a corresponding decline in bond values. Credit risk refers to the possibility that the bond issuer will not be able to make principal and interest payments. There may be less information on the financial condition of municipal issuers than for public corporations. The market for municipal bonds may be less liquid than for taxable bonds. Some investors may be subject to federal or state income taxes or the Alternative Minimum Tax (AMT). Capital gains distributions, if any, are taxable.

The Fund is not a money market fund and is not subject to the strict rules that govern the quality, maturity, liquidity and other features of securities that money market funds may purchase. Under normal circumstances, the Fund's investments may be more susceptible than a money market fund is to credit risk, interest rate risk, valuation risk and other risks relevant to the Fund's investments. The Fund does not seek to maintain a stable net asset value of $1.00 per share.

The Fund will hold securities with floating or variable interest rates which may decline in value if their coupon rates do not reset as high, or as quickly, as comparable market interest rates. Although floating rate notes are less sensitive to interest rate risk than fixed rate securities, they are subject to credit and default risk, which could impair their value

The Fund is an actively managed ETF that does not seek to replicate the performance of a specified index. The Fund may have a higher degree of portfolio turnover than funds that seek to replicate the performance of an index. Active funds typically charge higher fees than index-linked products due to increased trading and research expenses that may be incurred.

Effective duration is a measure of the Fund's price sensitivity to changes in yields or interest rates; however investors should be aware that effective duration is not an exact measurement and may not reliably predict a particular security's price sensitivity to changes in yield or interest rates.

The payment of a CLP Fee is intended to generate more quotes and trading than might otherwise exist absent this payment, and that the security leaving the Program may adversely impact a purchaser's subsequent sale of the security. Learn more at: http://www.ishares.com/us/products/liquidity-incentive-programs

The Funds are distributed by BlackRock Investments, LLC (together with its affiliates, "BlackRock").

©2015 BlackRock. All rights reserved. iSHARES and BLACKROCK are registered trademarks of BlackRock. All other marks are the property of their respective owners. iS-14933-0315

¹ Based on 4.652T in AUM as of 12/31/14.