787 Seventh Avenue | ||
New York, NY 10019-6099 | ||
Tel: 212 728 8000 | ||
Fax: 212 728 8111 |
July 25, 2017
VIA EDGAR
Ms. Deborah O’Neal-Johnson
Division of Investment Management
Securities and Exchange Commission
100 F Street, N.E.
Washington, DC 20549
Re: | iShares Trust (the “Trust”) |
(Securities Act FileNo. 333-92935 and
Investment Company Act FileNo. 811-09729)
Post-Effective Amendment No. 1,756
Dear Ms. O’Neal-Johnson:
This letter supplementally responds to your comment with respect to Post-Effective Amendment No. 1,756 to the registration statement of the Trust filed pursuant to Rule 485(a) under the Securities Act of 1933 on behalf of iShares iBonds Dec 2027 Term Corporate ETF (the “Fund”), which is a series of the Trust, to provide a completed fee table at least one week prior to the filing becoming effective. Please find attached as Annex A the fee table for the Fund.
****
If you have any questions or need further information, please call me at (202)303-1124.
Sincerely, |
/s/ Benjamin J. Haskin |
Benjamin J. Haskin |
cc: | Deepa Damre |
Marisa Rolland
Michael Gung
- 2 -
Annex A
AUGUST 2, 2017
2017 PROSPECTUS
iShares iBonds Dec 2027 Term Corporate ETF* | IBDS | NYSE ARCA
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.
*The iShares iBonds Dec 2027 Term Corporate ETF may also conduct business as the iBonds Dec
2027 Term Corporate ETF.
iSHARES® iBONDS® DEC 2027
TERM CORPORATE ETF
Ticker: IBDS Stock Exchange: [NYSE Arca]
Investment Objective
The iShares iBonds Dec 2027 Term Corporate ETF (the “Fund”) seeks to track the
investment results of an index composed of U.S. dollar-denominated, investment-grade
corporate bonds maturing in 2027.
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
0.10% None None 0.10%
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
$10 $32
Portfolio Turnover. The Fund may pay
transaction costs, such as
commissions, when it buys and sells
securities (or “turns over” its portfolio).
A higher portfolio turnover rate may
indicate higher transaction costs and
S-1