iShares is the global product leader in exchange traded funds with 437 funds globally across equities, fixed income and commodities, which trade on 19 exchanges worldwide. The iShares funds are bought and sold like common stocks on securities exchanges and like common stocks, they are subject to investment risk and fluctuation in market value. The iShares funds are attractive to many individual and institutional investors and financial intermediaries because of their relative low cost, tax efficiency and trading flexibility. However, trading in these funds may result in commissions or other costs that could offset any such savings. Investors can purchase and sell shares through any brokerage firm, financial advisor, or online broker, and hold the funds in any type of brokerage account. The iShares customer base consists of the institutional segment of pension plans and fund managers, as well as the retail segment of financial advisors and high net worth individuals