Offers more diversified exposure to the largest U.S. companies without sacrificing market exposure¹

iShares Build ETFs designed to optimize U.S. equity exposure

The increasing influence of mega-cap stocks in the U.S. capital market signals the critical need for investors to review their equity exposure to pursue their portfolio goals. Today, BlackRock launched the industry’s first 3% capped weighted ETF in the U.S. – the iShares S&P 500 3% Capped ETF (NYSE: TOPC) – providing investors balanced exposure to the 500 largest U.S. companies with greater issuer and sector diversification.

“TOPC introduces a timely innovation to help investors build their core U.S. equity exposure,” said Elise Terry, Head of U.S. iShares at BlackRock. “Combining the potential benefits of greater sector diversification and comparable exposure to the broad market index, TOPC is another testament to our dedication to equipping investors with a simple toolkit to navigate today’s equity markets.”

The shape of the U.S. equity market has evolved dramatically compared to decades past. In 2000, the entire U.S. stock market was valued at $15 trillion. Fast forward to today, the largest seven companies alone are worth more than $15 trillion², which means that mega-cap stocks may have an outsized impact on broad market performance and volatility, calling for a considered approach to equity exposure.

TOPC seeks to track the investment results of the S&P 500 3% Capped Index, which is composed of the S&P 500 companies capped such that no company has a weight over 3% of the Index as of each quarterly rebalancing. Excess weights are re-distributed to the remaining holdings based on their respective market capitalization to mirror the fundamental characteristics of a market-cap weighted index.

TOPC adds another affordable choice to the iShares Build ETFs – an equity toolkit that provides investors with portfolio building blocks to help manage U.S. market-cap exposure with the convenience and flexibility of an ETF. BlackRock manages more than $18 billion in assets across iShares Build ETFs³.

iShares Build ETF Line-up

About BlackRock

BlackRock’s purpose is to help more and more people experience financial well-being. As a fiduciary to investors and a leading provider of financial technology, we help millions of people build savings that serve them throughout their lives by making investing easier and more affordable. For additional information on BlackRock, please visit www.blackrock.com/corporate | Twitter: @blackrock | LinkedIn: www.linkedin.com/company/blackrock

About iShares

iShares unlocks opportunity across markets to meet the evolving needs of investors. With more than twenty years of experience, a global line-up of 1500+ exchange traded funds (ETFs) and $4.3 trillion in assets under management as of March 31, 2025, iShares continues to drive progress for the financial industry. iShares funds are powered by the expert portfolio and risk management of BlackRock.

Carefully consider the Funds' investment objectives, risk factors, and charges and expenses before investing. This and other information can be found in the Funds' prospectuses or, if available, the summary prospectuses which may be obtained by visiting www.iShares.com or www.blackrock.com. Read the prospectus carefully before investing. Investing involves risk, including possible loss of principal. Funds that concentrate investments in specific industries, sectors, markets or asset classes may underperform or be more volatile than other industries, sectors, markets or asset classes and the general securities market.

This information should not be relied upon as research, investment advice, or a recommendation regarding any products, strategies, or any security in particular. This material is strictly for illustrative, educational, or informational purposes and is subject to change.

The iShares Funds are not sponsored, endorsed, issued, sold or promoted by MSCI Inc., Nasdaq, Inc. or S&P Dow Jones Indices LLC. None of these companies make any representation regarding the advisability of investing in the Funds. BlackRock Investments, LLC is not affiliated with the companies listed above.

© 2025 BlackRock, Inc. or its affiliates. All Rights Reserved. BLACKROCK and iSHARES are trademarks of BlackRock, Inc. or its affiliates. All other trademarks are those of their respective owners.

¹ Source: S&P Global.

² Source: FactSet, 12/31/2024.

³ Source: BlackRock, as of 4/2/2025.

⁴ BFA, the investment adviser to the Fund, has contractually agreed to waive a portion of its management fee such that the Fund’s total annual fund operating expenses after fee waiver will not exceed 0.09% through April 3, 2026.

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