iShares S&P Developed ex-U.S. Property Index Fund (the Fund), formerly iShares S&P World Ex-U.S. Property Index Fund, seeks investment results that correspond generally to the price and yield performance of the S&P Developed ex US Property Index (the Index). The Index is a free float-adjusted market capitalization weighted index that defines and measures the investable universe of publicly traded real estate companies domiciled in developed countries outside of the United States. The companies in the Index are engaged in real estate related activities, such as property ownership, management, development, rental and investment. The Fund invests in a representative sample of securities included in the Index that collectively has an investment profile similar to the Index. The Fund’s investment advisor is Barclays Global Fund Advisors.