iShares Russell Midcap Value Index Fund (the Fund) seeks investment results that correspond generally to the price and yield performance of the Russell Midcap Value Index (the Value Index). The Value Index measures the performance of the mid-capitalization value sector of the United States equity market. The Value Index is a subset of the Russell Midcap Index and measures the performance of equity securities issued by those Russell Midcap Index companies with relatively lower price-to-book ratios and lower forecasted growth. The Value Index represents approximately 52% of the total market capitalization of the Russell Midcap Index. Component companies are adjusted for available float and must meet objective criteria for inclusion to the Index. Reconstitution is annual. The Fund invests in a representative sample of securities included in the Value Index that collectively has an investment profile similar to the Value Index. Its investment advisor is BlackRock Fund Advisors.