XESG vs. XCSR ETF Comparison

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

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

$31.07

Average Daily Volume

4,275

Number of Holdings ^*

8

* may have additional holdings in another (foreign) market

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

$76.12

Average Daily Volume

3,305

Number of Holdings ^*

8

* may have additional holdings in another (foreign) market

Performance

Period	XESG	XCSR
30 Days	4.93%	4.35%
60 Days	8.08%	6.90%
90 Days	11.58%	11.30%
12 Months	29.69%	31.37%

4 Overlapping Holdings

	Symbol	Grade	Weight in XESG	Weight in XCSR	Overlap
	BNS	A	4.71%	4.62%	4.62%
	CM	A	2.7%	4.3%	2.7%
	NA	A	3.1%	2.36%	2.36%
	SHOP	B	3.94%	6.9%	3.94%

XESG Overweight 4 Positions Relative to XCSR

	Symbol	Grade	Weight
	ENB	A	4.31%
	BN	B	3.31%
	CNR	D	3.18%
	SLF	A	2.82%

XESG Underweight 4 Positions Relative to XCSR

	Symbol	Grade	Weight
	BMO	A	-4.85%
	CSU	A	-4.43%
	AEM	C	-3.14%
	IFC	A	-2.48%

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

XCSR: Top Represented Industries & Keywords

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

Keywords: Bank Banking Financial Financial Services ING Group Investment Banking S&P/Tsx 60 Index Government Insurance Integrated Retail Wealth Management Banking Products Capital Market Capital Markets Credit Economic History Of Italy Insurance Operations Investment Banks Investment Solutions