Fund Description

The fund pursues an ESG uplift strategy, seeking an aggregate ESG assessment at least 10% better and aggregate carbon emissions at least 20% lower than the Russell 1000 Index, as measured at time of investment using BlackRock's proprietary framework and certain third-party data, though results may deviate. Under normal circumstances it invests at least 80% of net assets plus borrowings in large-cap equity securities and related derivatives. It uses exclusionary screens for certain revenues from controversial weapons, civilian firearms, tobacco, thermal coal (with specified exceptions), thermal coal mining, and oil sands, and may have indirect inconsistent exposure. The fund applies systematic, quantitative models incorporating expected returns, ESG characteristics, risk, and transaction costs, and may use derivatives for return, hedging, and cash-flow management.