XCSR vs. XESG ETF Comparison

Comparison of Ishares ESG Advanced MSCI Canada Idx ETF (XCSR) to Ishares ESG MSCI Cda Index ETF (XESG)

XCSR

Ishares ESG Advanced MSCI Canada Idx ETF

XCSR Description

Each iShares Fund seeks to provide long-term capital growth by replicating, to the extentpossible, the performance, net of expenses, of an ESG-oriented Index selected at thediscretion of BlackRock Canada. Each ESG-oriented Index will generally be comprised ofsecurities of issuers that meet a minimum standard for overall ESG attributes and which arenot materially involved in specified business activities or severe controversies, in each case,as determined by the Index Provider. The current Index for each iShares Fund is identifiedin this prospectus under “Investment Objectives”.

Grade (RS Rating)

Last Trade

$75.96

Average Daily Volume

3,300

Number of Holdings ^*

8

* may have additional holdings in another (foreign) market

XESG

Ishares ESG MSCI Cda Index ETF

XESG Description

Each iShares ESG Equity Fund seeks to provide long-term capital growth by replicating, to the extentpossible, the performance, net of expenses, of an environmental, social and governance (“ESG”)-oriented Index(defined below) selected at the discretion of BlackRock Canada. Each ESG-oriented Index will generally emphasizeissuers that have positive environmental, social and governance characteristics, as identified by the Index Provider(defined below), chosen from the securities included in its respective reference parent index (each, a “Parent Index”).The current ESG Equity Fund Index for each iShares ESG Equity Fund is identified in this prospectus under“Investment Objectives – iShares ESG Equity Funds”.

Grade (RS Rating)

Last Trade

$31.03

Average Daily Volume

4,232

Number of Holdings ^*

8

* may have additional holdings in another (foreign) market

Performance

Period	XCSR	XESG
30 Days	3.56%	3.92%
60 Days	6.33%	8.09%
90 Days	11.07%	11.44%
12 Months	30.83%	29.58%

4 Overlapping Holdings

	Symbol	Grade	Weight in XCSR	Weight in XESG	Overlap
	BNS	A	4.76%	4.87%	4.76%
	CM	A	4.11%	2.59%	2.59%
	SHOP	B	6.88%	3.94%	3.94%
	SLF	A	2.38%	2.88%	2.38%

XCSR Overweight 4 Positions Relative to XESG

	Symbol	Grade	Weight
	BMO	A	4.67%
	CSU	A	4.65%
	AEM	C	2.85%
	IFC	A	2.43%

XCSR Underweight 4 Positions Relative to XESG

	Symbol	Grade	Weight
	ENB	A	-4.24%
	CNR	F	-3.37%
	BN	B	-3.24%
	NA	A	-3.0%

XCSR: Top Represented Industries & Keywords

Industries: Banks - Global Software - Application Gold Insurance - Diversified Insurance - Property & Casualty

Keywords: S&P/Tsx 60 Index Bank Financial Financial Services Retail Banking Government ING Group Insurance Investment Banking Banking Products Capital Market Capital Markets Credit Integrated Investment Banks Mobile Software Td Securities Wealth Management

XESG: Top Represented Industries & Keywords

Industries: Banks - Global Asset Management Insurance - Diversified Oil & Gas Midstream Railroads Software - Application

Keywords: Financial Services Retail S&P/Tsx 60 Index Bank Banking Financial Integrated Investment Banking Marketing Mobile Commodity Economic History Of Italy ING Group Insurance Investment Solutions Transport Transportation Wealth Management Advisors Advisory Services