iShares FTSE Developed Small Cap ex-North America Index Fund (the Fund) seeks investment results that correspond generally to the price and yield performance of the FTSE Developed Small Cap ex-North America Index (the Index). The Index measures the stock performance of small-capitalization companies in developed countries outside North America, as defined by the index provider, FTSE International Limited. The Fund generally invests at least 90% of its assets in securities of the Index and depository receipts representing securities of the Index. The Fund will concentrate its investments (holds 25% or more of its total assets) in a particular industry or group of industries to approximately the same extent that its Index is concentrated. The Fund’s investment advisor is Barclays Global Fund Advisors.