Aims to target key companies amid heightened focus on evolving defense, cybersecurity, and geopolitical trends

Offers precise exposure across the defense and security spectrum in multiple geographies and industries

Today, BlackRock announced the launch of the iShares Defense Industrials Active ETF (NASDAQ: IDEF), an actively managed thematic ETF offering precise exposure to companies at the center of shifting geopolitical dynamics, national defense strategies, and global security priorities.

Long-term forces such as geopolitical fragmentation, supply chain reorientation, and rising competition over critical technologies are redefining national priorities and the global economy. In response, global investment in defense and security has surged - reaching a record $2.7 trillion in 2024, up 9.4% year-over-year and more than doubling since 2000.¹

“An active investing approach offers a nuanced and nimble approach to navigating geopolitical fragmentation and a shifting global defense landscape,” said Jay Jacobs, U.S. Head of Equity ETFs at BlackRock. “As governments around the world rewire their economic and security strategies, IDEF provides a dynamic way to target companies at the center of that transformation - from cybersecurity and advanced technologies to aerospace and strategic manufacturing.”

Managed by Simon Wan, Yasmin Meissner and Lucy Parker of the BlackRock Multi-Asset Strategies & Solutions Group, IDEF combines top-down macro research with proprietary analytics and alternative data - including defense revenue exposure and government contracting activity - to build a selective portfolio that focuses on global defense opportunities across multiples geographies and industries.

IDEF joins BlackRock’s $45 billion active ETF platform and builds on its growing thematic lineup.² BlackRock also manages one of the largest defense-themed index ETFs, the iShares U.S. Aerospace & Defense ETF (ITA), as well as the iShares Cybersecurity and Tech ETF (IHAK), offering investors broader access to key subthemes shaping today’s global security environment.³

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.

The Fund is actively managed and does not seek to replicate the performance of a specified index, may have higher portfolio turnover, and may charge higher fees than index funds due to increased trading and research expenses. ​

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.

International investing involves risks, including risks related to foreign currency, limited liquidity, less government regulation and the possibility of substantial volatility due to adverse political, economic or other developments. These risks often are heightened for investments in emerging/ developing markets or in concentrations of single countries.​

Convertible securities are subject to the market and issuer risks that apply to the underlying common stock.​

The Fund's use of derivatives may reduce the Fund's returns and/or increase volatility and subject the Fund to counterparty risk, which is the risk that the other party in the transaction will not fulfill its contractual obligation. The Fund could suffer losses related to its derivative positions because of a possible lack of liquidity in the secondary market and as a result of unanticipated market movements, which losses are potentially unlimited. There can be no assurance that the Fund's hedging transactions will be effective. ​

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 and BlackRock Funds are distributed by BlackRock Investments, LLC (together with its affiliates, “BlackRock”).

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