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BF:SamsungElectronicsCoLtdMember 2026-04-30 0000844779 BF:C000223508Member BF:SKHynixIncMember 2026-04-30 0000844779 BF:C000223508Member BF:TaiwanSemiconductorManufacturingCoLtdMember 2026-04-30 0000844779 BF:C000223508Member country:TW 2026-04-30 0000844779 BF:C000223508Member country:US 2026-04-30 iso4217:USD pure BF:Holding 10000 9475 10000 10000 10000 10000 9475 16377 17769 16281 17702 19395 21009 19281 21115 10246 9851 10432 10431 10814 10320 10955 9587 10314 10725 10155 10963 10000 9620 10215 11531 10834 11172 11542 10814 10155 10979 10311 10585 11298 10840 11321 11904 12377 10215 11876 11579 11283 11106 11565 13914 11527 10974 10848 10747 14911 11366 11388 12365 12268 12230 14029 14889 13946 15183 15135 22724 18183 10158 10000 18019 10783 8806 8233 9046 9862 14467 10357 11302 13614 10357 14440 12061 10000 10753 11611 10486 10379 11091 13463 10260 11582 11572 11815 18242 11188 11091 15117 10662 32917 12198 10716 18604 19195 10417 12117 10594 11159 24176 25487 13688 10914 10040 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You can also request this information by contacting us at (800) 441‑7762. blackrock.com/fundreports (800) 441‑7762 <div style="font-family: 'arial'; font-kerning: none; font-weight: bold; font-size: 10pt; color: rgb(0, 0, 0); margin: 0px 0px -0.18pt 0px;"><b>What were the </b> <b>Fund</b> <b> costs for the </b> <b>last year</b> <b>?</b></div><div style="font-family: 'arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; margin: 0px;">(based on a hypothetical $10,000 investment)</div> <table style="margin-top: 2pt; break-inside: avoid-page; page-break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; font-weight: bold; line-height: 11pt; background-color: rgb(255, 206, 0); vertical-align: bottom; text-align: left; padding: 2pt 0 2pt 0;">Class name</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; font-weight: bold; line-height: 11pt; background-color: rgb(255, 206, 0); text-align: center; vertical-align: bottom; padding: 2pt 0 2pt 0;">Costs of a $10,000<br/>investment</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; font-weight: bold; line-height: 11pt; background-color: rgb(255, 206, 0); text-align: center; vertical-align: bottom; padding: 2pt 0 2pt 0;">Costs paid as a percentage of a<br/>$10,000 investment</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; vertical-align: bottom; font-size: 8pt; line-height: 10pt; text-align: left; padding: 4pt 0 2pt 0;">Institutional Shares</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: center; font-size: 8pt; line-height: 10pt; padding: 4pt 0 2pt 0;"><span style="float: none;">$</span>110</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: center; font-size: 8pt; line-height: 10pt; white-space: nowrap; padding: 4pt 0 2pt 0;">0.88<span>%</span></td> </tr> </table> 110 0.0088 <div style="font-family: 'arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); margin-bottom: 0px;"> <div style="font-family: 'arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); break-inside: avoid-page; page-break-inside: avoid; margin-bottom: 3.5pt;"> <div style="font-family: 'arial'; font-kerning: none; font-weight: bold; font-size: 10pt; color: rgb(0, 0, 0); margin: 0px 0px -0.18pt 0px;"><b>How did the </b> <b>Fund</b> <b> perform </b> <b>last year</b> <b>?</b></div> </div> <ul style="counter-reset: numberedlisting 0 letteringlisting 0 letteredhead 0 lcrmnhead 0 ucletteredhead 0 ucrmnhead 0; break-inside: avoid-page; page-break-inside: avoid; padding: 0; margin: 3.5pt 0 3.5pt 0;"> <li style="font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding-left: 4pt; list-style-type: disc; font-size: 8pt; line-height: 12.32pt; text-align: justify; margin-left: 34px;"> <div style="font-family: 'arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-size: inherit; margin: 0px;">For the reporting period ended April 30, 2026, the Fund’s Institutional Shares returned 49.07%.</div> </li> <li style="font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding-left: 4pt; list-style-type: disc; font-size: 8pt; line-height: 12.32pt; text-align: justify; margin-left: 34px;"> <div style="font-family: 'arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-size: inherit; margin: 0px;">For the same period, the Fund’s benchmark, the MSCI Emerging Markets Index (Net) returned 46.68%.</div> </li> </ul> <div style="font-family: 'arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); break-inside: avoid-page; page-break-inside: avoid; margin-bottom: 3.5pt;"> <div style="font-family: 'arial'; font-kerning: none; font-size: 10pt; font-weight: normal; letter-spacing: normal; text-transform: none; color: rgb(0, 0, 0); margin: 0px 0px 5pt 0px;">What contributed to performance?</div> <div style="font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; margin: 0px 0px 3.5pt 0px;">The Fund delivered strong absolute returns, supported primarily by macro, sentiment, and quality-related insights. Macro and industry thematic positioning made the strongest contributions, led by trend-following measures that successfully captured leadership in semiconductors and technology hardware, as well as broader themes related to the artificial intelligence supply chain. Sentiment insights, which adapted well to changing market conditions, also helped results. Quality-related insights further boosted returns through positioning in companies with improving balance sheet characteristics and stronger earnings quality. Information technology was by far the largest contributor from a sector perspective, with additional gains in financials, industrials, and materials. Country performance was strongest in Taiwan and South Korea, led by holdings in semiconductors, computer equipment, and diversified financials. The Fund's cash position had no material impact on performance.</div> </div> <div style="font-family: 'arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); break-inside: avoid-page; page-break-inside: avoid; margin-bottom: 3.5pt;"> <div style="font-family: 'arial'; font-kerning: none; font-size: 10pt; font-weight: normal; letter-spacing: normal; text-transform: none; color: rgb(0, 0, 0); margin: 0px 0px 5pt 0px;">What detracted from performance?</div> <div style="font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; margin: 0px 0px 3.5pt 0px;">While the Fund’s overall performance was strong, traditional valuation measures detracted. The shortfall was most notable in companies with weaker sales and earnings characteristics. Certain quality and linkage-based insights (i.e., comparisons of similar companies) also hurt results, with the largest effect coming from those associated with Chinese consumer demand, mobile usage trends, and green innovation themes. Positioning in the consumer discretionary, healthcare, and consumer staples sectors weighed on returns, while India was a modest detractor at the country level.</div> </div> <div style="font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; margin: 0px 0px 3.5pt 0px;"><i>The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.</i></div> </div> <div style="font-family: 'arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); break-inside: avoid;"> <div style="font-family: 'arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); margin-bottom: 5pt;"> <div style="font-family: 'arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); break-inside: avoid-page; page-break-inside: avoid;"> <div style="font-family: 'arial'; font-kerning: none; font-weight: bold; font-size: 10pt; color: rgb(0, 0, 0); margin: 0px 0px -0.18pt 0px;">Fund performance</div> <div style="font-family: 'arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; margin: 0px;">Cumulative performance: May 1, 2016 through April 30, 2026</div> </div> <div style="font-family: 'arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; margin: 0px;">Initial investment of $10,000</div> </div> <div style="font-family: 'arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); margin-top: 5pt; margin-bottom: 5pt; text-align: center;"> <img alt="Fund Performance - Growth of 10K" src="g130909chartimages_6829084.jpg" style="width: 525pt;"/> </div> <div style="font-family: 'arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); padding-left: 10pt; margin-bottom: 7.2pt;"> <div style="font-family: 'arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; text-indent: -10pt; padding: 0px; margin: 0px;"> See “Average annual total returns” for additional information on fund performance.</div> </div> </div> <table style="break-inside: avoid-page; page-break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; background-color: rgb(255, 206, 0); border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); vertical-align: bottom; width: auto; font-weight: bold; font-style: normal; font-size: 10pt; text-align: left; text-indent: 0; letter-spacing: normal; text-transform: none; font-kerning: none; margin-top: 0; margin-bottom: 0; padding: 2pt 0 1.5pt 0;">Average annual total returns</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; text-align: left; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; width: auto; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">1 Year</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; text-align: left; width: auto; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; width: auto; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">5 Years</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; text-align: left; width: auto; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; width: auto; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">10 Years</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; text-align: left; width: auto; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; text-align: left; overflow-x: hidden; font-weight: normal; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 6pt;">Institutional Shares</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">49.07</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"><span>%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">4.74</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"><span>%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">6.16</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; text-align: left; overflow-x: hidden; font-weight: normal; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 6pt;">MSCI Emerging Markets Index (Net)</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">46.68</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 1.6pt 0;"></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">6.05</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 1.6pt 0;"></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">9.23</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 1.6pt 0;"></td> </tr> </table> Institutional Shares 0.4907 0.0474 0.0616 MSCI Emerging Markets Index (Net) 0.4668 0.0605 0.0923 <table style="break-inside: avoid-page; page-break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; background-color: rgb(255, 206, 0); border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); vertical-align: bottom; width: auto; font-weight: bold; font-size: 10pt; line-height: normal; text-align: left; text-indent: 0; letter-spacing: normal; text-transform: none; font-kerning: none; margin-top: 0; margin-bottom: 0; padding: 2pt 0 1.5pt 0;">Key Fund statistics</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Net Assets</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; white-space: nowrap; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;"><span style="float: none;">$</span>64,410,900</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Number of Portfolio Holdings</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; white-space: nowrap; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;">432</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Net Investment Advisory Fees</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; white-space: nowrap; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;"><span style="float: none;">$</span>0</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 1.6pt 6pt;">Portfolio Turnover Rate</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; white-space: nowrap; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 1.6pt 6pt;">224<span>%</span></td> </tr> </table> 64410900 432 0 2.24 Past performance is not an indication of future results. Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. Visit <span style="color: rgb(0, 0, 0); font-weight: bold; text-decoration-line: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify;">blackrock.com</span> for more recent performance information. <div style="font-family: 'arial'; font-kerning: none; font-weight: bold; font-size: 10pt; color: rgb(0, 0, 0); margin: 0px 0px -0.18pt 0px;">What did the Fund invest in?</div> <div style="font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-family: 'arial'; text-align: justify; font-size: 9pt; line-height: 11.4pt; margin: 0px;">(as of April 30, 2026)</div> <table style="page-break-inside: avoid; break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; background-color: rgb(255, 206, 0); border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td colspan="3" style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); white-space: nowrap; vertical-align: bottom; width: auto; font-weight: normal; font-style: normal; font-size: 10pt; line-height: normal; text-align: left; text-indent: 0; letter-spacing: normal; text-transform: none; font-kerning: none; margin-top: 0; margin-bottom: 0; padding: 2pt 0 1.5pt 0;"><strong>Geographic allocation</strong></td> </tr> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-size: 8pt; white-space: nowrap; font-weight: normal; text-align: left; vertical-align: bottom; text-indent: -6pt; width: auto; padding: 1.6pt 0 0 6pt;"><em>Country/Geographic Region</em></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;">Percent of<br/>Net Assets</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; text-align: left; width: auto; font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Taiwan</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">26.0</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">China</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">20.4</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">South Korea</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">17.2</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">India</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">11.1</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">United States</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">5.6</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Brazil</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.5</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Saudi Arabia</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.8</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">South Africa</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.5</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Thailand</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.0</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Mexico</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.3</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Other<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">#</sup></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">7.0</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 1.6pt 6pt;">Other Assets Less Liabilities</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 1.6pt 0;">0.6</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 1.6pt 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> </table> <table style="width: 100%; border-collapse: collapse; break-inside: avoid-page; page-break-inside: avoid; margin-top: 0px;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; width: initial; text-indent: 0; padding: 1.6pt 6pt 0 0;"> <div style="font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; padding: 0px; margin: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">#</sup></div> </td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; text-indent: 0; width: 100%; padding: 1.6pt 0 0 0;"> <div style="font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; padding: 0px; margin: 0px;">Ten largest countries/geographic regions are presented. Additional countries/geographic regions are found in Other.</div> </td> </tr> </table> 0.260 0.204 0.172 0.111 0.056 0.035 0.028 0.025 0.020 0.013 0.070 0.006 BlackRock Advantage Emerging Markets Fund Investor A Shares BLSAX This annual shareholder report contains important information about BlackRock Advantage Emerging Markets Fund (the “Fund”) for the period of May 1, 2025 to April 30, 2026. annual shareholder report You can find additional information about the Fund at <span style="color: rgb(0, 0, 0); font-weight: bold; text-decoration-line: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify;">blackrock.com/fundreports</span>. You can also request this information by contacting us at (800) 441‑7762. blackrock.com/fundreports (800) 441‑7762 <div style="font-family: 'arial'; font-kerning: none; font-weight: bold; font-size: 10pt; color: rgb(0, 0, 0); margin: 0px 0px -0.18pt 0px;"><b>What were the </b> <b>Fund</b> <b> costs for the </b> <b>last year</b> <b>?</b></div><div style="font-family: 'arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; margin: 0px;">(based on a hypothetical $10,000 investment)</div> <table style="margin-top: 2pt; break-inside: avoid-page; page-break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; font-weight: bold; line-height: 11pt; background-color: rgb(255, 206, 0); vertical-align: bottom; text-align: left; padding: 2pt 0 2pt 0;">Class name</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; font-weight: bold; line-height: 11pt; background-color: rgb(255, 206, 0); text-align: center; vertical-align: bottom; padding: 2pt 0 2pt 0;">Costs of a $10,000<br/>investment</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; font-weight: bold; line-height: 11pt; background-color: rgb(255, 206, 0); text-align: center; vertical-align: bottom; padding: 2pt 0 2pt 0;">Costs paid as a percentage of a<br/>$10,000 investment</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; vertical-align: bottom; font-size: 8pt; line-height: 10pt; text-align: left; padding: 4pt 0 2pt 0;">Investor A Shares</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: center; font-size: 8pt; line-height: 10pt; padding: 4pt 0 2pt 0;"><span style="float: none;">$</span>148</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: center; font-size: 8pt; line-height: 10pt; white-space: nowrap; padding: 4pt 0 2pt 0;">1.19<span>%</span></td> </tr> </table> 148 0.0119 <div style="font-family: 'arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); margin-bottom: 0px;"> <div style="font-family: 'arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); break-inside: avoid-page; page-break-inside: avoid; margin-bottom: 3.5pt;"> <div style="font-family: 'arial'; font-kerning: none; font-weight: bold; font-size: 10pt; color: rgb(0, 0, 0); margin: 0px 0px -0.18pt 0px;"><b>How did the </b> <b>Fund</b> <b> perform </b> <b>last year</b> <b>?</b></div> </div> <ul style="counter-reset: numberedlisting 0 letteringlisting 0 letteredhead 0 lcrmnhead 0 ucletteredhead 0 ucrmnhead 0; break-inside: avoid-page; page-break-inside: avoid; padding: 0; margin: 3.5pt 0 3.5pt 0;"> <li style="font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding-left: 4pt; list-style-type: disc; font-size: 8pt; line-height: 12.32pt; text-align: justify; margin-left: 34px;"> <div style="font-family: 'arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-size: inherit; margin: 0px;">For the reporting period ended April 30, 2026, the Fund’s Investor A Shares returned 48.69%.</div> </li> <li style="font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding-left: 4pt; list-style-type: disc; font-size: 8pt; line-height: 12.32pt; text-align: justify; margin-left: 34px;"> <div style="font-family: 'arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-size: inherit; margin: 0px;">For the same period, the Fund’s benchmark, the MSCI Emerging Markets Index (Net) returned 46.68%.</div> </li> </ul> <div style="font-family: 'arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); break-inside: avoid-page; page-break-inside: avoid; margin-bottom: 3.5pt;"> <div style="font-family: 'arial'; font-kerning: none; font-size: 10pt; font-weight: normal; letter-spacing: normal; text-transform: none; color: rgb(0, 0, 0); margin: 0px 0px 5pt 0px;">What contributed to performance?</div> <div style="font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; margin: 0px 0px 3.5pt 0px;">The Fund delivered strong absolute returns, supported primarily by macro, sentiment, and quality-related insights. Macro and industry thematic positioning made the strongest contributions, led by trend-following measures that successfully captured leadership in semiconductors and technology hardware, as well as broader themes related to the artificial intelligence supply chain. Sentiment insights, which adapted well to changing market conditions, also helped results. Quality-related insights further boosted returns through positioning in companies with improving balance sheet characteristics and stronger earnings quality. Information technology was by far the largest contributor from a sector perspective, with additional gains in financials, industrials, and materials. Country performance was strongest in Taiwan and South Korea, led by holdings in semiconductors, computer equipment, and diversified financials. The Fund's cash position had no material impact on performance.</div> </div> <div style="font-family: 'arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); break-inside: avoid-page; page-break-inside: avoid; margin-bottom: 3.5pt;"> <div style="font-family: 'arial'; font-kerning: none; font-size: 10pt; font-weight: normal; letter-spacing: normal; text-transform: none; color: rgb(0, 0, 0); margin: 0px 0px 5pt 0px;">What detracted from performance?</div> <div style="font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; margin: 0px 0px 3.5pt 0px;">While the Fund’s overall performance was strong, traditional valuation measures detracted. The shortfall was most notable in companies with weaker sales and earnings characteristics. Certain quality and linkage-based insights (i.e., comparisons of similar companies) also hurt results, with the largest effect coming from those associated with Chinese consumer demand, mobile usage trends, and green innovation themes. Positioning in the consumer discretionary, healthcare, and consumer staples sectors weighed on returns, while India was a modest detractor at the country level.</div> </div> <div style="font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; margin: 0px 0px 3.5pt 0px;"><i>The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.</i></div> </div> <div style="font-family: 'arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); break-inside: avoid;"> <div style="font-family: 'arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); margin-bottom: 5pt;"> <div style="font-family: 'arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); break-inside: avoid-page; page-break-inside: avoid;"> <div style="font-family: 'arial'; font-kerning: none; font-weight: bold; font-size: 10pt; color: rgb(0, 0, 0); margin: 0px 0px -0.18pt 0px;">Fund performance</div> <div style="font-family: 'arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; margin: 0px;">Cumulative performance: May 1, 2016 through April 30, 2026</div> </div> <div style="font-family: 'arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; margin: 0px;">Initial investment of $10,000</div> </div> <div style="font-family: 'arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); margin-top: 5pt; margin-bottom: 5pt; text-align: center;"> <img alt="Fund Performance - Growth of 10K" src="g130909chartimages_6829033.jpg" style="width: 525pt;"/> </div> <div style="font-family: 'arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); padding-left: 10pt; margin-bottom: 7.2pt;"> <div style="font-family: 'arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; text-indent: -10pt; padding: 0px; margin: 0px;"> See “Average annual total returns” for additional information on fund performance.</div> </div> </div> <table style="break-inside: avoid-page; page-break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; background-color: rgb(255, 206, 0); border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); vertical-align: bottom; width: auto; font-weight: bold; font-style: normal; font-size: 10pt; text-align: left; text-indent: 0; letter-spacing: normal; text-transform: none; font-kerning: none; margin-top: 0; margin-bottom: 0; padding: 2pt 0 1.5pt 0;">Average annual total returns</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; text-align: left; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; width: auto; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">1 Year</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; text-align: left; width: auto; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; width: auto; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">5 Years</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; text-align: left; width: auto; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; width: auto; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">10 Years</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; text-align: left; width: auto; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; text-align: left; overflow-x: hidden; font-weight: normal; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 6pt;">Investor A Shares</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">48.69</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"><span>%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">4.44</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"><span>%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">5.85</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; text-align: left; overflow-x: hidden; font-weight: normal; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 6pt;">Investor A Shares (with sales charge)</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">40.88</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">3.32</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">5.28</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; text-align: left; overflow-x: hidden; font-weight: normal; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 6pt;">MSCI Emerging Markets Index (Net)</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">46.68</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 1.6pt 0;"></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">6.05</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 1.6pt 0;"></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">9.23</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 1.6pt 0;"></td> </tr> </table> Investor A Shares 0.4869 0.0444 0.0585 Investor A Shares (with sales charge) 0.4088 0.0332 0.0528 MSCI Emerging Markets Index (Net) 0.4668 0.0605 0.0923 <table style="break-inside: avoid-page; page-break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; background-color: rgb(255, 206, 0); border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); vertical-align: bottom; width: auto; font-weight: bold; font-size: 10pt; line-height: normal; text-align: left; text-indent: 0; letter-spacing: normal; text-transform: none; font-kerning: none; margin-top: 0; margin-bottom: 0; padding: 2pt 0 1.5pt 0;">Key Fund statistics</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Net Assets</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; white-space: nowrap; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;"><span style="float: none;">$</span>64,410,900</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Number of Portfolio Holdings</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; white-space: nowrap; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;">432</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Net Investment Advisory Fees</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; white-space: nowrap; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;"><span style="float: none;">$</span>0</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 1.6pt 6pt;">Portfolio Turnover Rate</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; white-space: nowrap; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 1.6pt 6pt;">224<span>%</span></td> </tr> </table> 64410900 432 0 2.24 Past performance is not an indication of future results. Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. Visit <span style="color: rgb(0, 0, 0); font-weight: bold; text-decoration-line: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify;">blackrock.com</span> for more recent performance information. <div style="font-family: 'arial'; font-kerning: none; font-weight: bold; font-size: 10pt; color: rgb(0, 0, 0); margin: 0px 0px -0.18pt 0px;">What did the Fund invest in?</div> <div style="font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-family: 'arial'; text-align: justify; font-size: 9pt; line-height: 11.4pt; margin: 0px;">(as of April 30, 2026)</div> <table style="page-break-inside: avoid; break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; background-color: rgb(255, 206, 0); border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td colspan="3" style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); white-space: nowrap; vertical-align: bottom; width: auto; font-weight: normal; font-style: normal; font-size: 10pt; line-height: normal; text-align: left; text-indent: 0; letter-spacing: normal; text-transform: none; font-kerning: none; margin-top: 0; margin-bottom: 0; padding: 2pt 0 1.5pt 0;"><strong>Geographic allocation</strong></td> </tr> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-size: 8pt; white-space: nowrap; font-weight: normal; text-align: left; vertical-align: bottom; text-indent: -6pt; width: auto; padding: 1.6pt 0 0 6pt;"><em>Country/Geographic Region</em></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;">Percent of<br/>Net Assets</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; text-align: left; width: auto; font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Taiwan</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">26.0</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">China</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">20.4</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">South Korea</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">17.2</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">India</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">11.1</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">United States</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">5.6</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Brazil</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.5</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Saudi Arabia</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.8</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">South Africa</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.5</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Thailand</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.0</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Mexico</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.3</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Other<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">#</sup></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">7.0</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 1.6pt 6pt;">Other Assets Less Liabilities</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 1.6pt 0;">0.6</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 1.6pt 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> </table> <table style="width: 100%; border-collapse: collapse; break-inside: avoid-page; page-break-inside: avoid; margin-top: 0px;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; width: initial; text-indent: 0; padding: 1.6pt 6pt 0 0;"> <div style="font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; padding: 0px; margin: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">#</sup></div> </td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; text-indent: 0; width: 100%; padding: 1.6pt 0 0 0;"> <div style="font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; padding: 0px; margin: 0px;">Ten largest countries/geographic regions are presented. Additional countries/geographic regions are found in Other.</div> </td> </tr> </table> 0.260 0.204 0.172 0.111 0.056 0.035 0.028 0.025 0.020 0.013 0.070 0.006 BlackRock Advantage Emerging Markets Fund Investor C Shares BLSCX This annual shareholder report contains important information about BlackRock Advantage Emerging Markets Fund (the “Fund”) for the period of May 1, 2025 to April 30, 2026. annual shareholder report You can find additional information about the Fund at <span style="color: rgb(0, 0, 0); font-weight: bold; text-decoration-line: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify;">blackrock.com/fundreports</span>. You can also request this information by contacting us at (800) 441‑7762. blackrock.com/fundreports (800) 441‑7762 <div style="font-family: 'arial'; font-kerning: none; font-weight: bold; font-size: 10pt; color: rgb(0, 0, 0); margin: 0px 0px -0.18pt 0px;"><b>What were the </b> <b>Fund</b> <b> costs for the </b> <b>last year</b> <b>?</b></div><div style="font-family: 'arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; margin: 0px;">(based on a hypothetical $10,000 investment)</div> <table style="margin-top: 2pt; break-inside: avoid-page; page-break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; font-weight: bold; line-height: 11pt; background-color: rgb(255, 206, 0); vertical-align: bottom; text-align: left; padding: 2pt 0 2pt 0;">Class name</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; font-weight: bold; line-height: 11pt; background-color: rgb(255, 206, 0); text-align: center; vertical-align: bottom; padding: 2pt 0 2pt 0;">Costs of a $10,000<br/>investment</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; font-weight: bold; line-height: 11pt; background-color: rgb(255, 206, 0); text-align: center; vertical-align: bottom; padding: 2pt 0 2pt 0;">Costs paid as a percentage of a<br/>$10,000 investment</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; vertical-align: bottom; font-size: 8pt; line-height: 10pt; text-align: left; padding: 4pt 0 2pt 0;">Investor C Shares</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: center; font-size: 8pt; line-height: 10pt; padding: 4pt 0 2pt 0;"><span style="float: none;">$</span>240</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: center; font-size: 8pt; line-height: 10pt; white-space: nowrap; padding: 4pt 0 2pt 0;">1.94<span>%</span></td> </tr> </table> 240 0.0194 <div style="font-family: 'arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); margin-bottom: 0px;"> <div style="font-family: 'arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); break-inside: avoid-page; page-break-inside: avoid; margin-bottom: 3.5pt;"> <div style="font-family: 'arial'; font-kerning: none; font-weight: bold; font-size: 10pt; color: rgb(0, 0, 0); margin: 0px 0px -0.18pt 0px;"><b>How did the </b> <b>Fund</b> <b> perform </b> <b>last year</b> <b>?</b></div> </div> <ul style="counter-reset: numberedlisting 0 letteringlisting 0 letteredhead 0 lcrmnhead 0 ucletteredhead 0 ucrmnhead 0; break-inside: avoid-page; page-break-inside: avoid; padding: 0; margin: 3.5pt 0 3.5pt 0;"> <li style="font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding-left: 4pt; list-style-type: disc; font-size: 8pt; line-height: 12.32pt; text-align: justify; margin-left: 34px;"> <div style="font-family: 'arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-size: inherit; margin: 0px;">For the reporting period ended April 30, 2026, the Fund’s Investor C Shares returned 47.64%.</div> </li> <li style="font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding-left: 4pt; list-style-type: disc; font-size: 8pt; line-height: 12.32pt; text-align: justify; margin-left: 34px;"> <div style="font-family: 'arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-size: inherit; margin: 0px;">For the same period, the Fund’s benchmark, the MSCI Emerging Markets Index (Net) returned 46.68%.</div> </li> </ul> <div style="font-family: 'arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); break-inside: avoid-page; page-break-inside: avoid; margin-bottom: 3.5pt;"> <div style="font-family: 'arial'; font-kerning: none; font-size: 10pt; font-weight: normal; letter-spacing: normal; text-transform: none; color: rgb(0, 0, 0); margin: 0px 0px 5pt 0px;">What contributed to performance?</div> <div style="font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; margin: 0px 0px 3.5pt 0px;">The Fund delivered strong absolute returns, supported primarily by macro, sentiment, and quality-related insights. Macro and industry thematic positioning made the strongest contributions, led by trend-following measures that successfully captured leadership in semiconductors and technology hardware, as well as broader themes related to the artificial intelligence supply chain. Sentiment insights, which adapted well to changing market conditions, also helped results. Quality-related insights further boosted returns through positioning in companies with improving balance sheet characteristics and stronger earnings quality. Information technology was by far the largest contributor from a sector perspective, with additional gains in financials, industrials, and materials. Country performance was strongest in Taiwan and South Korea, led by holdings in semiconductors, computer equipment, and diversified financials. The Fund's cash position had no material impact on performance.</div> </div> <div style="font-family: 'arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); break-inside: avoid-page; page-break-inside: avoid; margin-bottom: 3.5pt;"> <div style="font-family: 'arial'; font-kerning: none; font-size: 10pt; font-weight: normal; letter-spacing: normal; text-transform: none; color: rgb(0, 0, 0); margin: 0px 0px 5pt 0px;">What detracted from performance?</div> <div style="font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; margin: 0px 0px 3.5pt 0px;">While the Fund’s overall performance was strong, traditional valuation measures detracted. The shortfall was most notable in companies with weaker sales and earnings characteristics. Certain quality and linkage-based insights (i.e., comparisons of similar companies) also hurt results, with the largest effect coming from those associated with Chinese consumer demand, mobile usage trends, and green innovation themes. Positioning in the consumer discretionary, healthcare, and consumer staples sectors weighed on returns, while India was a modest detractor at the country level.</div> </div> <div style="font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; margin: 0px 0px 3.5pt 0px;"><i>The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.</i></div> </div> <div style="font-family: 'arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); break-inside: avoid;"> <div style="font-family: 'arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); margin-bottom: 5pt;"> <div style="font-family: 'arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); break-inside: avoid-page; page-break-inside: avoid;"> <div style="font-family: 'arial'; font-kerning: none; font-weight: bold; font-size: 10pt; color: rgb(0, 0, 0); margin: 0px 0px -0.18pt 0px;">Fund performance</div> <div style="font-family: 'arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; margin: 0px;">Cumulative performance: May 1, 2016 through April 30, 2026</div> </div> <div style="font-family: 'arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; margin: 0px;">Initial investment of $10,000</div> </div> <div style="font-family: 'arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); margin-top: 5pt; margin-bottom: 5pt; text-align: center;"> <img alt="Fund Performance - Growth of 10K" src="g130909chartimages_6829020.jpg" style="width: 525pt;"/> </div> <div style="font-family: 'arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); padding-left: 10pt; margin-bottom: 7.2pt;"> <div style="font-family: 'arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; text-indent: -10pt; padding: 0px; margin: 0px;"> See “Average annual total returns” for additional information on fund performance.</div> </div> </div> <table style="break-inside: avoid-page; page-break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; background-color: rgb(255, 206, 0); border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); vertical-align: bottom; width: auto; font-weight: bold; font-style: normal; font-size: 10pt; text-align: left; text-indent: 0; letter-spacing: normal; text-transform: none; font-kerning: none; margin-top: 0; margin-bottom: 0; padding: 2pt 0 1.5pt 0;">Average annual total returns</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; text-align: left; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; width: auto; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">1 Year</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; text-align: left; width: auto; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; width: auto; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">5 Years</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; text-align: left; width: auto; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; width: auto; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">10 Years</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; text-align: left; width: auto; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; text-align: left; overflow-x: hidden; font-weight: normal; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 6pt;">Investor C Shares</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">47.64</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"><span>%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">3.67</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"><span>%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">5.22</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; text-align: left; overflow-x: hidden; font-weight: normal; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 6pt;">Investor C Shares (with sales charge)</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">46.64</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">3.67</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">5.22</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; text-align: left; overflow-x: hidden; font-weight: normal; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 6pt;">MSCI Emerging Markets Index (Net)</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">46.68</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 1.6pt 0;"></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">6.05</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 1.6pt 0;"></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">9.23</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 1.6pt 0;"></td> </tr> </table> Investor C Shares 0.4764 0.0367 0.0522 Investor C Shares (with sales charge) 0.4664 0.0367 0.0522 MSCI Emerging Markets Index (Net) 0.4668 0.0605 0.0923 <table style="break-inside: avoid-page; page-break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; background-color: rgb(255, 206, 0); border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); vertical-align: bottom; width: auto; font-weight: bold; font-size: 10pt; line-height: normal; text-align: left; text-indent: 0; letter-spacing: normal; text-transform: none; font-kerning: none; margin-top: 0; margin-bottom: 0; padding: 2pt 0 1.5pt 0;">Key Fund statistics</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Net Assets</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; white-space: nowrap; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;"><span style="float: none;">$</span>64,410,900</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Number of Portfolio Holdings</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; white-space: nowrap; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;">432</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Net Investment Advisory Fees</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; white-space: nowrap; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;"><span style="float: none;">$</span>0</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 1.6pt 6pt;">Portfolio Turnover Rate</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; white-space: nowrap; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 1.6pt 6pt;">224<span>%</span></td> </tr> </table> 64410900 432 0 2.24 Past performance is not an indication of future results. Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. Visit <span style="color: rgb(0, 0, 0); font-weight: bold; text-decoration-line: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify;">blackrock.com</span> for more recent performance information. <div style="font-family: 'arial'; font-kerning: none; font-weight: bold; font-size: 10pt; color: rgb(0, 0, 0); margin: 0px 0px -0.18pt 0px;">What did the Fund invest in?</div> <div style="font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-family: 'arial'; text-align: justify; font-size: 9pt; line-height: 11.4pt; margin: 0px;">(as of April 30, 2026)</div> <table style="page-break-inside: avoid; break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; background-color: rgb(255, 206, 0); border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td colspan="3" style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); white-space: nowrap; vertical-align: bottom; width: auto; font-weight: normal; font-style: normal; font-size: 10pt; line-height: normal; text-align: left; text-indent: 0; letter-spacing: normal; text-transform: none; font-kerning: none; margin-top: 0; margin-bottom: 0; padding: 2pt 0 1.5pt 0;"><strong>Geographic allocation</strong></td> </tr> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-size: 8pt; white-space: nowrap; font-weight: normal; text-align: left; vertical-align: bottom; text-indent: -6pt; width: auto; padding: 1.6pt 0 0 6pt;"><em>Country/Geographic Region</em></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;">Percent of<br/>Net Assets</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; text-align: left; width: auto; font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Taiwan</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">26.0</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">China</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">20.4</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">South Korea</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">17.2</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">India</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">11.1</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">United States</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">5.6</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Brazil</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.5</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Saudi Arabia</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.8</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">South Africa</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.5</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Thailand</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.0</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Mexico</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.3</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Other<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">#</sup></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">7.0</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 1.6pt 6pt;">Other Assets Less Liabilities</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 1.6pt 0;">0.6</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 1.6pt 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> </table> <table style="width: 100%; border-collapse: collapse; break-inside: avoid-page; page-break-inside: avoid; margin-top: 0px;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; width: initial; text-indent: 0; padding: 1.6pt 6pt 0 0;"> <div style="font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; padding: 0px; margin: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">#</sup></div> </td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; text-indent: 0; width: 100%; padding: 1.6pt 0 0 0;"> <div style="font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; padding: 0px; margin: 0px;">Ten largest countries/geographic regions are presented. Additional countries/geographic regions are found in Other.</div> </td> </tr> </table> 0.260 0.204 0.172 0.111 0.056 0.035 0.028 0.025 0.020 0.013 0.070 0.006 BlackRock Advantage Emerging Markets Fund Class K Shares BLSKX This annual shareholder report contains important information about BlackRock Advantage Emerging Markets Fund (the “Fund”) for the period of May 1, 2025 to April 30, 2026. annual shareholder report You can find additional information about the Fund at <span style="color: rgb(0, 0, 0); font-weight: bold; text-decoration-line: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify;">blackrock.com/fundreports</span>. You can also request this information by contacting us at (800) 441‑7762. blackrock.com/fundreports (800) 441‑7762 <div style="font-family: 'arial'; font-kerning: none; font-weight: bold; font-size: 10pt; color: rgb(0, 0, 0); margin: 0px 0px -0.18pt 0px;"><b>What were the </b> <b>Fund</b> <b> costs for the </b> <b>last year</b> <b>?</b></div> <div style="font-family: 'arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; margin: 0px;">(based on a hypothetical $10,000 investment)</div> <table style="margin-top: 2pt; break-inside: avoid-page; page-break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; font-weight: bold; line-height: 11pt; background-color: rgb(255, 206, 0); vertical-align: bottom; text-align: left; padding: 2pt 0 2pt 0;">Class name</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; font-weight: bold; line-height: 11pt; background-color: rgb(255, 206, 0); text-align: center; vertical-align: bottom; padding: 2pt 0 2pt 0;">Costs of a $10,000<br/>investment</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; font-weight: bold; line-height: 11pt; background-color: rgb(255, 206, 0); text-align: center; vertical-align: bottom; padding: 2pt 0 2pt 0;">Costs paid as a percentage of a<br/>$10,000 investment</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; vertical-align: bottom; font-size: 8pt; line-height: 10pt; text-align: left; padding: 4pt 0 2pt 0;">Class K Shares</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: center; font-size: 8pt; line-height: 10pt; padding: 4pt 0 2pt 0;"><span style="float: none;">$</span>106</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: center; font-size: 8pt; line-height: 10pt; white-space: nowrap; padding: 4pt 0 2pt 0;">0.85<span>%</span></td> </tr> </table> 106 0.0085 <div style="font-family: 'arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); margin-bottom: 0px;"> <div style="font-family: 'arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); break-inside: avoid-page; page-break-inside: avoid; margin-bottom: 3.5pt;"> <div style="font-family: 'arial'; font-kerning: none; font-weight: bold; font-size: 10pt; color: rgb(0, 0, 0); margin: 0px 0px -0.18pt 0px;"><b>How did the </b> <b>Fund</b> <b> perform </b> <b>last year</b> <b>?</b></div> </div> <ul style="counter-reset: numberedlisting 0 letteringlisting 0 letteredhead 0 lcrmnhead 0 ucletteredhead 0 ucrmnhead 0; break-inside: avoid-page; page-break-inside: avoid; padding: 0; margin: 3.5pt 0 3.5pt 0;"> <li style="font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding-left: 4pt; list-style-type: disc; font-size: 8pt; line-height: 12.32pt; text-align: justify; margin-left: 34px;"> <div style="font-family: 'arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-size: inherit; margin: 0px;">For the reporting period ended April 30, 2026, the Fund’s Class K Shares returned 49.42%.</div> </li> <li style="font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding-left: 4pt; list-style-type: disc; font-size: 8pt; line-height: 12.32pt; text-align: justify; margin-left: 34px;"> <div style="font-family: 'arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-size: inherit; margin: 0px;">For the same period, the Fund’s benchmark, the MSCI Emerging Markets Index (Net) returned 46.68%.</div> </li> </ul> <div style="font-family: 'arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); break-inside: avoid-page; page-break-inside: avoid; margin-bottom: 3.5pt;"> <div style="font-family: 'arial'; font-kerning: none; font-size: 10pt; font-weight: normal; letter-spacing: normal; text-transform: none; color: rgb(0, 0, 0); margin: 0px 0px 5pt 0px;">What contributed to performance?</div> <div style="font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; margin: 0px 0px 3.5pt 0px;">The Fund delivered strong absolute returns, supported primarily by macro, sentiment, and quality-related insights. Macro and industry thematic positioning made the strongest contributions, led by trend-following measures that successfully captured leadership in semiconductors and technology hardware, as well as broader themes related to the artificial intelligence supply chain. Sentiment insights, which adapted well to changing market conditions, also helped results. Quality-related insights further boosted returns through positioning in companies with improving balance sheet characteristics and stronger earnings quality. Information technology was by far the largest contributor from a sector perspective, with additional gains in financials, industrials, and materials. Country performance was strongest in Taiwan and South Korea, led by holdings in semiconductors, computer equipment, and diversified financials. The Fund's cash position had no material impact on performance.</div> </div> <div style="font-family: 'arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); break-inside: avoid-page; page-break-inside: avoid; margin-bottom: 3.5pt;"> <div style="font-family: 'arial'; font-kerning: none; font-size: 10pt; font-weight: normal; letter-spacing: normal; text-transform: none; color: rgb(0, 0, 0); margin: 0px 0px 5pt 0px;">What detracted from performance?</div> <div style="font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; margin: 0px 0px 3.5pt 0px;">While the Fund’s overall performance was strong, traditional valuation measures detracted. The shortfall was most notable in companies with weaker sales and earnings characteristics. Certain quality and linkage-based insights (i.e., comparisons of similar companies) also hurt results, with the largest effect coming from those associated with Chinese consumer demand, mobile usage trends, and green innovation themes. Positioning in the consumer discretionary, healthcare, and consumer staples sectors weighed on returns, while India was a modest detractor at the country level.</div> </div> <div style="font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; margin: 0px 0px 3.5pt 0px;"><i>The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.</i></div> </div> <div style="font-family: 'arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); break-inside: avoid;"> <div style="font-family: 'arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); margin-bottom: 5pt;"> <div style="font-family: 'arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); break-inside: avoid-page; page-break-inside: avoid;"> <div style="font-family: 'arial'; font-kerning: none; font-weight: bold; font-size: 10pt; color: rgb(0, 0, 0); margin: 0px 0px -0.18pt 0px;">Fund performance</div> <div style="font-family: 'arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; margin: 0px;">Cumulative performance: May 1, 2016 through April 30, 2026</div> </div> <div style="font-family: 'arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; margin: 0px;">Initial investment of $10,000</div> </div> <div style="font-family: 'arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); margin-top: 5pt; margin-bottom: 5pt; text-align: center;"> <img alt="Fund Performance - Growth of 10K" src="g130909chartimages_6828957.jpg" style="width: 525pt;"/> </div> <div style="font-family: 'arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); padding-left: 10pt; margin-bottom: 7.2pt;"> <div style="font-family: 'arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; text-indent: -10pt; padding: 0px; margin: 0px;"> See “Average annual total returns” for additional information on fund performance.</div> </div> </div> <table style="break-inside: avoid-page; page-break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; background-color: rgb(255, 206, 0); border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); vertical-align: bottom; width: auto; font-weight: bold; font-style: normal; font-size: 10pt; text-align: left; text-indent: 0; letter-spacing: normal; text-transform: none; font-kerning: none; margin-top: 0; margin-bottom: 0; padding: 2pt 0 1.5pt 0;">Average annual total returns</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; text-align: left; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; width: auto; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">1 Year</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; text-align: left; width: auto; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; width: auto; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">5 Years</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; text-align: left; width: auto; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; width: auto; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">10 Years</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; text-align: left; width: auto; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; text-align: left; overflow-x: hidden; font-weight: normal; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 6pt;">Class K Shares</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">49.42</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"><span>%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">4.78</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"><span>%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">6.20</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; text-align: left; overflow-x: hidden; font-weight: normal; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 6pt;">MSCI Emerging Markets Index (Net)</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">46.68</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 1.6pt 0;"></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">6.05</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 1.6pt 0;"></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">9.23</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 1.6pt 0;"></td> </tr> </table> Class K Shares 0.4942 0.0478 0.0620 MSCI Emerging Markets Index (Net) 0.4668 0.0605 0.0923 <table style="break-inside: avoid-page; page-break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; background-color: rgb(255, 206, 0); border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); vertical-align: bottom; width: auto; font-weight: bold; font-size: 10pt; line-height: normal; text-align: left; text-indent: 0; letter-spacing: normal; text-transform: none; font-kerning: none; margin-top: 0; margin-bottom: 0; padding: 2pt 0 1.5pt 0;">Key Fund statistics</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Net Assets</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; white-space: nowrap; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;"><span style="float: none;">$</span>64,410,900</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Number of Portfolio Holdings</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; white-space: nowrap; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;">432</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Net Investment Advisory Fees</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; white-space: nowrap; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;"><span style="float: none;">$</span>0</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 1.6pt 6pt;">Portfolio Turnover Rate</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; white-space: nowrap; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 1.6pt 6pt;">224<span>%</span></td> </tr> </table> 64410900 432 0 2.24 2018-01-25 Past performance is not an indication of future results. Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. Visit <span style="color: rgb(0, 0, 0); font-weight: bold; text-decoration-line: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify;">blackrock.com</span> for more recent performance information. <div style="font-family: 'arial'; font-kerning: none; font-weight: bold; font-size: 10pt; color: rgb(0, 0, 0); margin: 0px 0px -0.18pt 0px;">What did the Fund invest in?</div> <div style="font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-family: 'arial'; text-align: justify; font-size: 9pt; line-height: 11.4pt; margin: 0px;">(as of April 30, 2026)</div> <table style="page-break-inside: avoid; break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; background-color: rgb(255, 206, 0); border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td colspan="3" style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); white-space: nowrap; vertical-align: bottom; width: auto; font-weight: normal; font-style: normal; font-size: 10pt; line-height: normal; text-align: left; text-indent: 0; letter-spacing: normal; text-transform: none; font-kerning: none; margin-top: 0; margin-bottom: 0; padding: 2pt 0 1.5pt 0;"><strong>Geographic allocation</strong></td> </tr> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-size: 8pt; white-space: nowrap; font-weight: normal; text-align: left; vertical-align: bottom; text-indent: -6pt; width: auto; padding: 1.6pt 0 0 6pt;"><em>Country/Geographic Region</em></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;">Percent of<br/>Net Assets</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; text-align: left; width: auto; font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Taiwan</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">26.0</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">China</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">20.4</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">South Korea</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">17.2</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">India</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">11.1</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">United States</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">5.6</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Brazil</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.5</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Saudi Arabia</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.8</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">South Africa</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.5</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Thailand</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.0</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Mexico</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.3</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Other<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">#</sup></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">7.0</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 1.6pt 6pt;">Other Assets Less Liabilities</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 1.6pt 0;">0.6</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 1.6pt 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> </table> <table style="width: 100%; border-collapse: collapse; break-inside: avoid-page; page-break-inside: avoid; margin-top: 0px;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; width: initial; text-indent: 0; padding: 1.6pt 6pt 0 0;"> <div style="font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; padding: 0px; margin: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">#</sup></div> </td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; text-indent: 0; width: 100%; padding: 1.6pt 0 0 0;"> <div style="font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; padding: 0px; margin: 0px;">Ten largest countries/geographic regions are presented. Additional countries/geographic regions are found in Other.</div> </td> </tr> </table> 0.260 0.204 0.172 0.111 0.056 0.035 0.028 0.025 0.020 0.013 0.070 0.006 BlackRock Defensive Advantage Emerging Markets Fund Institutional Shares BIDEX This annual shareholder report contains important information about BlackRock Defensive Advantage Emerging Markets Fund (the “Fund”) for the period of May 1, 2025 to April 30, 2026. annual shareholder report You can find additional information about the Fund at <span style="color: rgb(0, 0, 0); font-weight: bold; text-decoration-line: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify;">blackrock.com/fundreports</span>. You can also request this information by contacting us at (800) 441‑7762. blackrock.com/fundreports (800) 441‑7762 <div style="font-family: 'arial'; font-kerning: none; font-weight: bold; font-size: 10pt; color: rgb(0, 0, 0); margin: 0px 0px -0.18pt 0px;"><b>What were the </b> <b>Fund</b> <b> costs for the </b> <b>last year</b> <b>?</b></div> <div style="font-family: 'arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; margin: 0px;">(based on a hypothetical $10,000 investment)</div> <table style="margin-top: 2pt; break-inside: avoid-page; page-break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; font-weight: bold; line-height: 11pt; background-color: rgb(255, 206, 0); vertical-align: bottom; text-align: left; padding: 2pt 0 2pt 0;">Class name</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; font-weight: bold; line-height: 11pt; background-color: rgb(255, 206, 0); text-align: center; vertical-align: bottom; padding: 2pt 0 2pt 0;">Costs of a $10,000<br/>investment</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; font-weight: bold; line-height: 11pt; background-color: rgb(255, 206, 0); text-align: center; vertical-align: bottom; padding: 2pt 0 2pt 0;">Costs paid as a percentage of a<br/>$10,000 investment</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; vertical-align: bottom; font-size: 8pt; line-height: 10pt; text-align: left; padding: 4pt 0 2pt 0;">Institutional Shares</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: center; font-size: 8pt; line-height: 10pt; padding: 4pt 0 2pt 0;"><span style="float: none;">$</span>94</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: center; font-size: 8pt; line-height: 10pt; white-space: nowrap; padding: 4pt 0 2pt 0;">0.85<span>%</span></td> </tr> </table> 94 0.0085 <div style="font-family: 'arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); margin-bottom: 0px;"> <div style="font-family: 'arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); break-inside: avoid-page; page-break-inside: avoid; margin-bottom: 3.5pt;"> <div style="font-family: 'arial'; font-kerning: none; font-weight: bold; font-size: 10pt; color: rgb(0, 0, 0); margin: 0px 0px -0.18pt 0px;"><b>How did the </b> <b>Fund</b> <b> perform </b> <b>last year</b> <b>?</b></div> </div> <ul style="counter-reset: numberedlisting 0 letteringlisting 0 letteredhead 0 lcrmnhead 0 ucletteredhead 0 ucrmnhead 0; break-inside: avoid-page; page-break-inside: avoid; padding: 0; margin: 3.5pt 0 3.5pt 0;"> <li style="font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding-left: 4pt; list-style-type: disc; font-size: 8pt; line-height: 12.32pt; text-align: justify; margin-left: 34px;"> <div style="font-family: 'arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-size: inherit; margin: 0px;">For the reporting period ended April 30, 2026, the Fund’s Institutional Shares returned 20.41%.</div> </li> <li style="font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding-left: 4pt; list-style-type: disc; font-size: 8pt; line-height: 12.32pt; text-align: justify; margin-left: 34px;"> <div style="font-family: 'arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-size: inherit; margin: 0px;">For the same period, the Fund’s benchmark, the MSCI Emerging Markets Index (Net) returned 46.68% and the MSCI Emerging Markets Minimum Volatility Index (Net) returned 20.45%.</div> </li> </ul> <div style="font-family: 'arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); break-inside: avoid-page; page-break-inside: avoid; margin-bottom: 3.5pt;"> <div style="font-family: 'arial'; font-kerning: none; font-size: 10pt; font-weight: normal; letter-spacing: normal; text-transform: none; color: rgb(0, 0, 0); margin: 0px 0px 5pt 0px;">What contributed to performance?</div> <div style="font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; margin: 0px 0px 3.5pt 0px;">The Fund delivered positive absolute returns over the reporting period, supported primarily by quality, sentiment, and macro thematic insights. Quality-related measures were the strongest contributors, particularly those focused on operating cash flow strength, earnings quality, and disciplined balance sheet characteristics. Sentiment insights also helped results, as the assessment of analyst revisions, broker sentiment, and flow-related measures adapted well to changing market conditions. Macro thematic positioning further contributed through country and industry-level insights that gauge yield curve dynamics, foreign exchange reserves, and inventory-related trends. Information technology and financials were the largest contributors from a sector perspective, with additional gains from communication services, energy, and industrials. Country performance was strongest in Taiwan, South Korea, and China, highlighted by holdings in semiconductors, banks, and energy stocks.</div> </div> <div style="font-family: 'arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); break-inside: avoid-page; page-break-inside: avoid; margin-bottom: 3.5pt;"> <div style="font-family: 'arial'; font-kerning: none; font-size: 10pt; font-weight: normal; letter-spacing: normal; text-transform: none; color: rgb(0, 0, 0); margin: 0px 0px 5pt 0px;">What detracted from performance?</div> <div style="font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; margin: 0px 0px 3.5pt 0px;">While the Fund’s overall performance was positive, traditional valuation measures—particularly those tied to cash flow and sales-based valuation characteristics—detracted. Certain country-level thematic insights also struggled, with flow, energy production, and long-term reversion related measures representing the largest detractors. Healthcare, consumer discretionary, and consumer staples were the most notable detractors in terms of sectors, while India was the leading detractor at the country level.</div> </div> <div style="font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; margin: 0px 0px 3.5pt 0px;"><i>The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.</i></div> </div> <div style="font-family: 'arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); break-inside: avoid;"> <div style="font-family: 'arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); margin-bottom: 5pt;"> <div style="font-family: 'arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); break-inside: avoid-page; page-break-inside: avoid;"> <div style="font-family: 'arial'; font-kerning: none; font-weight: bold; font-size: 10pt; color: rgb(0, 0, 0); margin: 0px 0px -0.18pt 0px;">Fund performance</div> <div style="font-family: 'arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; margin: 0px;">Cumulative performance: December 21, 2020 through April 30, 2026</div> </div> <div style="font-family: 'arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; margin: 0px;">Initial investment of $10,000</div> </div> <div style="font-family: 'arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); margin-top: 5pt; margin-bottom: 5pt; text-align: center;"> <img alt="Fund Performance - Growth of 10K" src="g130909chartimages_6828763.jpg" style="width: 525pt;"/> </div> <div style="font-family: 'arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); padding-left: 10pt; margin-bottom: 7.2pt;"> <div style="font-family: 'arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; text-indent: -10pt; padding: 0px; margin: 0px;"> See “Average annual total returns” for additional information on fund performance.</div> </div> </div> <table style="break-inside: avoid-page; page-break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; background-color: rgb(255, 206, 0); border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); vertical-align: bottom; width: auto; font-weight: bold; font-style: normal; font-size: 10pt; text-align: left; text-indent: 0; letter-spacing: normal; text-transform: none; font-kerning: none; margin-top: 0; margin-bottom: 0; padding: 2pt 0 1.5pt 0;">Average annual total returns</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; text-align: left; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; width: auto; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">1 Year</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; text-align: left; width: auto; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; width: auto; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">5 Years</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; text-align: left; width: auto; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; width: auto; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">Since Fund<br/>Inception</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; text-align: left; width: auto; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; text-align: left; overflow-x: hidden; font-weight: normal; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 6pt;">Institutional Shares</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">20.41</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"><span>%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">6.61</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"><span>%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">7.72</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; text-align: left; overflow-x: hidden; font-weight: normal; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 6pt;">MSCI Emerging Markets Index (Net)</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">46.68</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">6.05</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">7.13</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; text-align: left; overflow-x: hidden; font-weight: normal; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 6pt;">MSCI Emerging Markets Minimum Volatility Index (Net)</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">20.45</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 1.6pt 0;"></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">5.01</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 1.6pt 0;"></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">5.93</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 1.6pt 0;"></td> </tr> </table> Institutional Shares 0.2041 0.0661 0.0772 MSCI Emerging Markets Index (Net) 0.4668 0.0605 0.0713 MSCI Emerging Markets Minimum Volatility Index (Net) 0.2045 0.0501 0.0593 <table style="break-inside: avoid-page; page-break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; background-color: rgb(255, 206, 0); border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); vertical-align: bottom; width: auto; font-weight: bold; font-size: 10pt; line-height: normal; text-align: left; text-indent: 0; letter-spacing: normal; text-transform: none; font-kerning: none; margin-top: 0; margin-bottom: 0; padding: 2pt 0 1.5pt 0;">Key Fund statistics</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Net Assets</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; white-space: nowrap; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;"><span style="float: none;">$</span>13,605,322</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Number of Portfolio Holdings</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; white-space: nowrap; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;">188</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Net Investment Advisory Fees</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; white-space: nowrap; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;"><span style="float: none;">$</span>0</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 1.6pt 6pt;">Portfolio Turnover Rate</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; white-space: nowrap; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 1.6pt 6pt;">211<span>%</span></td> </tr> </table> 13605322 188 0 2.11 2020-12-21 Past performance is not an indication of future results. Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. Visit <span style="color: rgb(0, 0, 0); font-weight: bold; text-decoration-line: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify;">blackrock.com</span> for more recent performance information. <div style="font-family: 'arial'; font-kerning: none; font-weight: bold; font-size: 10pt; color: rgb(0, 0, 0); margin: 0px 0px -0.18pt 0px;">What did the Fund invest in?</div> <div style="font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-family: 'arial'; text-align: justify; font-size: 9pt; line-height: 11.4pt; margin: 0px;">(as of April 30, 2026)</div> <table style="page-break-inside: avoid; break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; background-color: rgb(255, 206, 0); border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td colspan="3" style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); white-space: nowrap; vertical-align: bottom; width: auto; font-weight: normal; font-style: normal; font-size: 10pt; line-height: normal; text-align: left; text-indent: 0; letter-spacing: normal; text-transform: none; font-kerning: none; margin-top: 0; margin-bottom: 0; padding: 2pt 0 1.5pt 0;"><strong>Geographic allocation</strong></td> </tr> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-size: 8pt; white-space: nowrap; font-weight: normal; text-align: left; vertical-align: bottom; text-indent: -6pt; width: auto; padding: 1.6pt 0 0 6pt;"><em>Country/Geographic Region</em></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;">Percent of<br/>Net Assets</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; text-align: left; width: auto; font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">China</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">20.3</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Taiwan</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">17.1</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">India</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">13.9</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">South Korea</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">10.8</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Saudi Arabia</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">7.4</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Malaysia</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">4.8</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">United Arab Emirates</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">4.2</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">United States</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.9</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Kuwait</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.5</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Qatar</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.3</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Other<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">#</sup></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">12.9</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 1.6pt 6pt;">Liabilities in Excess of Other Assets</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 1.6pt 0;">(0.1</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 1.6pt 0;"><span>)</span><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> </table> <table style="page-break-inside: avoid; break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; font-style: italic; font-size: 8pt; line-height: 10pt; background-color: rgb(255, 206, 0); border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td colspan="3" style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); white-space: nowrap; vertical-align: bottom; width: auto; font-weight: normal; font-style: normal; font-size: 10pt; line-height: normal; text-align: left; text-indent: 0; letter-spacing: normal; text-transform: none; font-kerning: none; margin-top: 0; margin-bottom: 0; padding: 2pt 6pt 1.5pt 0;"><strong>Ten largest holdings</strong></td> </tr> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-size: 8pt; white-space: nowrap; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Security<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;">Percent of<br/>Net Assets</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; text-align: left; width: auto; font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Samsung Electro-Mechanics Co. Ltd.</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.8</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">SK Hynix, Inc.</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.6</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Delta Electronics, Inc.</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.5</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Taiwan Semiconductor Manufacturing Co. Ltd.</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.5</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">PetroChina Co. Ltd., Class H</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.5</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Chroma ATE, Inc.</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.5</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">ASE Technology Holding Co. Ltd.</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.5</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Ooredoo QPSC</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.5</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Samsung Electronics Co. Ltd.</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.5</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 1.6pt 6pt;">Bharti Airtel Ltd.</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 1.6pt 0;">1.5</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 1.6pt 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> </table> <table style="width: 100%; border-collapse: collapse; break-inside: avoid-page; page-break-inside: avoid; margin-top: 0px;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; width: initial; text-indent: 0; padding: 1.6pt 6pt 0 0;"> <div style="font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; padding: 0px; margin: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></div> </td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; text-indent: 0; width: 100%; padding: 1.6pt 0 0 0;"> <div style="font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; padding: 0px; margin: 0px;">Excludes short-term securities.</div> </td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; width: initial; vertical-align: top; text-indent: 0; padding: 0 6pt 0 0;"> <div style="font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; padding: 0px; margin: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">#</sup></div> </td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; width: 100%; padding: 0;"> <div style="font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; padding: 0px; margin: 0px;">Ten largest countries/geographic regions are presented. Additional countries/geographic regions are found in Other.</div> </td> </tr> </table> 0.203 0.171 0.139 0.108 0.074 0.048 0.042 0.039 0.025 0.023 0.129 -0.001 <table style="page-break-inside: avoid; break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; font-style: italic; font-size: 8pt; line-height: 10pt; background-color: rgb(255, 206, 0); border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td colspan="3" style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); white-space: nowrap; vertical-align: bottom; width: auto; font-weight: normal; font-style: normal; font-size: 10pt; line-height: normal; text-align: left; text-indent: 0; letter-spacing: normal; text-transform: none; font-kerning: none; margin-top: 0; margin-bottom: 0; padding: 2pt 6pt 1.5pt 0;"><strong>Ten largest holdings</strong></td> </tr> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-size: 8pt; white-space: nowrap; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Security<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;">Percent of<br/>Net Assets</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; text-align: left; width: auto; font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Samsung Electro-Mechanics Co. Ltd.</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.8</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">SK Hynix, Inc.</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.6</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Delta Electronics, Inc.</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.5</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Taiwan Semiconductor Manufacturing Co. Ltd.</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.5</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">PetroChina Co. Ltd., Class H</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.5</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Chroma ATE, Inc.</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.5</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">ASE Technology Holding Co. Ltd.</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.5</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Ooredoo QPSC</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.5</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Samsung Electronics Co. Ltd.</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.5</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 1.6pt 6pt;">Bharti Airtel Ltd.</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 1.6pt 0;">1.5</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 1.6pt 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> </table> (a)Excludes short-term securities. 0.018 0.016 0.015 0.015 0.015 0.015 0.015 0.015 0.015 0.015 BlackRock Defensive Advantage Emerging Markets Fund Investor A Shares BADEX This annual shareholder report contains important information about BlackRock Defensive Advantage Emerging Markets Fund (the “Fund”) for the period of May 1, 2025 to April 30, 2026. annual shareholder report You can find additional information about the Fund at <span style="color: rgb(0, 0, 0); font-weight: bold; text-decoration-line: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify;">blackrock.com/fundreports</span>. You can also request this information by contacting us at (800) 441‑7762. blackrock.com/fundreports (800) 441‑7762 <div style="font-family: 'arial'; font-kerning: none; font-weight: bold; font-size: 10pt; color: rgb(0, 0, 0); margin: 0px 0px -0.18pt 0px;"><b>What were the </b> <b>Fund</b> <b> costs for the </b> <b>last year</b> <b>?</b></div><div style="font-family: 'arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; margin: 0px;">(based on a hypothetical $10,000 investment)</div> <table style="margin-top: 2pt; break-inside: avoid-page; page-break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; font-weight: bold; line-height: 11pt; background-color: rgb(255, 206, 0); vertical-align: bottom; text-align: left; padding: 2pt 0 2pt 0;">Class name</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; font-weight: bold; line-height: 11pt; background-color: rgb(255, 206, 0); text-align: center; vertical-align: bottom; padding: 2pt 0 2pt 0;">Costs of a $10,000<br/>investment</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; font-weight: bold; line-height: 11pt; background-color: rgb(255, 206, 0); text-align: center; vertical-align: bottom; padding: 2pt 0 2pt 0;">Costs paid as a percentage of a<br/>$10,000 investment</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; vertical-align: bottom; font-size: 8pt; line-height: 10pt; text-align: left; padding: 4pt 0 2pt 0;">Investor A Shares</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: center; font-size: 8pt; line-height: 10pt; padding: 4pt 0 2pt 0;"><span style="float: none;">$</span>122</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: center; font-size: 8pt; line-height: 10pt; white-space: nowrap; padding: 4pt 0 2pt 0;">1.11<span>%</span></td> </tr> </table> 122 0.0111 <div style="font-family: 'arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); margin-bottom: 0px;"> <div style="font-family: 'arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); break-inside: avoid-page; page-break-inside: avoid; margin-bottom: 3.5pt;"> <div style="font-family: 'arial'; font-kerning: none; font-weight: bold; font-size: 10pt; color: rgb(0, 0, 0); margin: 0px 0px -0.18pt 0px;"><b>How did the </b> <b>Fund</b> <b> perform </b> <b>last year</b> <b>?</b></div> </div> <ul style="counter-reset: numberedlisting 0 letteringlisting 0 letteredhead 0 lcrmnhead 0 ucletteredhead 0 ucrmnhead 0; break-inside: avoid-page; page-break-inside: avoid; padding: 0; margin: 3.5pt 0 3.5pt 0;"> <li style="font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding-left: 4pt; list-style-type: disc; font-size: 8pt; line-height: 12.32pt; text-align: justify; margin-left: 34px;"> <div style="font-family: 'arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-size: inherit; margin: 0px;">For the reporting period ended April 30, 2026, the Fund’s Investor A Shares returned 20.17%.</div> </li> <li style="font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding-left: 4pt; list-style-type: disc; font-size: 8pt; line-height: 12.32pt; text-align: justify; margin-left: 34px;"> <div style="font-family: 'arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-size: inherit; margin: 0px;">For the same period, the Fund’s benchmark, the MSCI Emerging Markets Index (Net) returned 46.68% and the MSCI Emerging Markets Minimum Volatility Index (Net) returned 20.45%.</div> </li> </ul> <div style="font-family: 'arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); break-inside: avoid-page; page-break-inside: avoid; margin-bottom: 3.5pt;"> <div style="font-family: 'arial'; font-kerning: none; font-size: 10pt; font-weight: normal; letter-spacing: normal; text-transform: none; color: rgb(0, 0, 0); margin: 0px 0px 5pt 0px;">What contributed to performance?</div> <div style="font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; margin: 0px 0px 3.5pt 0px;">The Fund delivered positive absolute returns over the reporting period, supported primarily by quality, sentiment, and macro thematic insights. Quality-related measures were the strongest contributors, particularly those focused on operating cash flow strength, earnings quality, and disciplined balance sheet characteristics. Sentiment insights also helped results, as the assessment of analyst revisions, broker sentiment, and flow-related measures adapted well to changing market conditions. Macro thematic positioning further contributed through country and industry-level insights that gauge yield curve dynamics, foreign exchange reserves, and inventory-related trends. Information technology and financials were the largest contributors from a sector perspective, with additional gains from communication services, energy, and industrials. Country performance was strongest in Taiwan, South Korea, and China, highlighted by holdings in semiconductors, banks, and energy stocks.</div> </div> <div style="font-family: 'arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); break-inside: avoid-page; page-break-inside: avoid; margin-bottom: 3.5pt;"> <div style="font-family: 'arial'; font-kerning: none; font-size: 10pt; font-weight: normal; letter-spacing: normal; text-transform: none; color: rgb(0, 0, 0); margin: 0px 0px 5pt 0px;">What detracted from performance?</div> <div style="font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; margin: 0px 0px 3.5pt 0px;">While the Fund’s overall performance was positive, traditional valuation measures—particularly those tied to cash flow and sales-based valuation characteristics—detracted. Certain country-level thematic insights also struggled, with flow, energy production, and long-term reversion related measures representing the largest detractors. Healthcare, consumer discretionary, and consumer staples were the most notable detractors in terms of sectors, while India was the leading detractor at the country level.</div> </div> <div style="font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; margin: 0px 0px 3.5pt 0px;"><i>The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.</i></div> </div> <div style="font-family: 'arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); break-inside: avoid;"> <div style="font-family: 'arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); margin-bottom: 5pt;"> <div style="font-family: 'arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); break-inside: avoid-page; page-break-inside: avoid;"> <div style="font-family: 'arial'; font-kerning: none; font-weight: bold; font-size: 10pt; color: rgb(0, 0, 0); margin: 0px 0px -0.18pt 0px;">Fund performance</div> <div style="font-family: 'arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; margin: 0px;">Cumulative performance: December 21, 2020 through April 30, 2026</div> </div> <div style="font-family: 'arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; margin: 0px;">Initial investment of $10,000</div> </div> <div style="font-family: 'arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); margin-top: 5pt; margin-bottom: 5pt; text-align: center;"> <img alt="Fund Performance - Growth of 10K" src="g130909chartimages_6828750.jpg" style="width: 525pt;"/> </div> <div style="font-family: 'arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); padding-left: 10pt; margin-bottom: 7.2pt;"> <div style="font-family: 'arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; text-indent: -10pt; padding: 0px; margin: 0px;"> See “Average annual total returns” for additional information on fund performance.</div> </div> </div> <table style="break-inside: avoid-page; page-break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; background-color: rgb(255, 206, 0); border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); vertical-align: bottom; width: auto; font-weight: bold; font-style: normal; font-size: 10pt; text-align: left; text-indent: 0; letter-spacing: normal; text-transform: none; font-kerning: none; margin-top: 0; margin-bottom: 0; padding: 2pt 0 1.5pt 0;">Average annual total returns</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; text-align: left; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; width: auto; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">1 Year</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; text-align: left; width: auto; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; width: auto; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">5 Years</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; text-align: left; width: auto; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; width: auto; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">Since Fund<br/>Inception</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; text-align: left; width: auto; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; text-align: left; overflow-x: hidden; font-weight: normal; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 6pt;">Investor A Shares</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">20.17</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"><span>%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">6.31</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"><span>%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">7.44</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; text-align: left; overflow-x: hidden; font-weight: normal; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 6pt;">Investor A Shares (with sales charge)</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">13.86</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">5.17</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">6.36</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; text-align: left; overflow-x: hidden; font-weight: normal; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 6pt;">MSCI Emerging Markets Index (Net)</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">46.68</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">6.05</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">7.13</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; text-align: left; overflow-x: hidden; font-weight: normal; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 6pt;">MSCI Emerging Markets Minimum Volatility Index (Net)</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">20.45</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 1.6pt 0;"></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">5.01</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 1.6pt 0;"></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">5.93</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 1.6pt 0;"></td> </tr> </table> Investor A Shares 0.2017 0.0631 0.0744 Investor A Shares (with sales charge) 0.1386 0.0517 0.0636 MSCI Emerging Markets Index (Net) 0.4668 0.0605 0.0713 MSCI Emerging Markets Minimum Volatility Index (Net) 0.2045 0.0501 0.0593 <table style="break-inside: avoid-page; page-break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; background-color: rgb(255, 206, 0); border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); vertical-align: bottom; width: auto; font-weight: bold; font-size: 10pt; line-height: normal; text-align: left; text-indent: 0; letter-spacing: normal; text-transform: none; font-kerning: none; margin-top: 0; margin-bottom: 0; padding: 2pt 0 1.5pt 0;">Key Fund statistics</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Net Assets</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; white-space: nowrap; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;"><span style="float: none;">$</span>13,605,322</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Number of Portfolio Holdings</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; white-space: nowrap; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;">188</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Net Investment Advisory Fees</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; white-space: nowrap; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;"><span style="float: none;">$</span>0</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 1.6pt 6pt;">Portfolio Turnover Rate</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; white-space: nowrap; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 1.6pt 6pt;">211<span>%</span></td> </tr> </table> 13605322 188 0 2.11 2020-12-21 Past performance is not an indication of future results. Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. Visit <span style="color: rgb(0, 0, 0); font-weight: bold; text-decoration-line: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify;">blackrock.com</span> for more recent performance information. <div style="font-family: 'arial'; font-kerning: none; font-weight: bold; font-size: 10pt; color: rgb(0, 0, 0); margin: 0px 0px -0.18pt 0px;">What did the Fund invest in?</div> <div style="font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-family: 'arial'; text-align: justify; font-size: 9pt; line-height: 11.4pt; margin: 0px;">(as of April 30, 2026)</div> <table style="page-break-inside: avoid; break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; background-color: rgb(255, 206, 0); border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td colspan="3" style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); white-space: nowrap; vertical-align: bottom; width: auto; font-weight: normal; font-style: normal; font-size: 10pt; line-height: normal; text-align: left; text-indent: 0; letter-spacing: normal; text-transform: none; font-kerning: none; margin-top: 0; margin-bottom: 0; padding: 2pt 0 1.5pt 0;"><strong>Geographic allocation</strong></td> </tr> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-size: 8pt; white-space: nowrap; font-weight: normal; text-align: left; vertical-align: bottom; text-indent: -6pt; width: auto; padding: 1.6pt 0 0 6pt;"><em>Country/Geographic Region</em></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;">Percent of<br/>Net Assets</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; text-align: left; width: auto; font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">China</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">20.3</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Taiwan</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">17.1</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">India</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">13.9</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">South Korea</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">10.8</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Saudi Arabia</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">7.4</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Malaysia</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">4.8</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">United Arab Emirates</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">4.2</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">United States</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.9</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Kuwait</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.5</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Qatar</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.3</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Other<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">#</sup></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">12.9</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 1.6pt 6pt;">Liabilities in Excess of Other Assets</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 1.6pt 0;">(0.1</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 1.6pt 0;"><span>)</span><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> </table> <table style="page-break-inside: avoid; break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; font-style: italic; font-size: 8pt; line-height: 10pt; background-color: rgb(255, 206, 0); border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td colspan="3" style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); white-space: nowrap; vertical-align: bottom; width: auto; font-weight: normal; font-style: normal; font-size: 10pt; line-height: normal; text-align: left; text-indent: 0; letter-spacing: normal; text-transform: none; font-kerning: none; margin-top: 0; margin-bottom: 0; padding: 2pt 6pt 1.5pt 0;"><strong>Ten largest holdings</strong></td> </tr> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-size: 8pt; white-space: nowrap; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Security<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;">Percent of<br/>Net Assets</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; text-align: left; width: auto; font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Samsung Electro-Mechanics Co. Ltd.</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.8</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">SK Hynix, Inc.</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.6</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Delta Electronics, Inc.</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.5</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Taiwan Semiconductor Manufacturing Co. Ltd.</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.5</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">PetroChina Co. Ltd., Class H</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.5</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Chroma ATE, Inc.</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.5</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">ASE Technology Holding Co. Ltd.</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.5</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Ooredoo QPSC</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.5</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Samsung Electronics Co. Ltd.</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.5</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 1.6pt 6pt;">Bharti Airtel Ltd.</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 1.6pt 0;">1.5</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 1.6pt 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> </table> <table style="width: 100%; border-collapse: collapse; break-inside: avoid-page; page-break-inside: avoid; margin-top: 0px;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; width: initial; text-indent: 0; padding: 1.6pt 6pt 0 0;"> <div style="font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; padding: 0px; margin: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></div> </td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; text-indent: 0; width: 100%; padding: 1.6pt 0 0 0;"> <div style="font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; padding: 0px; margin: 0px;">Excludes short-term securities.</div> </td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; width: initial; vertical-align: top; text-indent: 0; padding: 0 6pt 0 0;"> <div style="font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; padding: 0px; margin: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">#</sup></div> </td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; width: 100%; padding: 0;"> <div style="font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; padding: 0px; margin: 0px;">Ten largest countries/geographic regions are presented. Additional countries/geographic regions are found in Other.</div> </td> </tr> </table> 0.203 0.171 0.139 0.108 0.074 0.048 0.042 0.039 0.025 0.023 0.129 -0.001 <table style="page-break-inside: avoid; break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; font-style: italic; font-size: 8pt; line-height: 10pt; background-color: rgb(255, 206, 0); border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td colspan="3" style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); white-space: nowrap; vertical-align: bottom; width: auto; font-weight: normal; font-style: normal; font-size: 10pt; line-height: normal; text-align: left; text-indent: 0; letter-spacing: normal; text-transform: none; font-kerning: none; margin-top: 0; margin-bottom: 0; padding: 2pt 6pt 1.5pt 0;"><strong>Ten largest holdings</strong></td> </tr> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-size: 8pt; white-space: nowrap; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Security<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;">Percent of<br/>Net Assets</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; text-align: left; width: auto; font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Samsung Electro-Mechanics Co. Ltd.</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.8</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">SK Hynix, Inc.</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.6</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Delta Electronics, Inc.</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.5</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Taiwan Semiconductor Manufacturing Co. Ltd.</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.5</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">PetroChina Co. Ltd., Class H</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.5</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Chroma ATE, Inc.</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.5</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">ASE Technology Holding Co. Ltd.</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.5</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Ooredoo QPSC</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.5</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Samsung Electronics Co. Ltd.</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.5</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 1.6pt 6pt;">Bharti Airtel Ltd.</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 1.6pt 0;">1.5</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 1.6pt 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> </table>(a)Excludes short-term securities. 0.018 0.016 0.015 0.015 0.015 0.015 0.015 0.015 0.015 0.015 BlackRock Defensive Advantage Emerging Markets Fund Class K Shares BKDEX This annual shareholder report contains important information about BlackRock Defensive Advantage Emerging Markets Fund (the “Fund”) for the period of May 1, 2025 to April 30, 2026. annual shareholder report You can find additional information about the Fund at <span style="color: rgb(0, 0, 0); font-weight: bold; text-decoration-line: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify;">blackrock.com/fundreports</span>. You can also request this information by contacting us at (800) 441‑7762. blackrock.com/fundreports (800) 441‑7762 <div style="font-family: 'arial'; font-kerning: none; font-weight: bold; font-size: 10pt; color: rgb(0, 0, 0); margin: 0px 0px -0.18pt 0px;"><b>What were the </b> <b>Fund</b> <b> costs for the </b> <b>last year</b> <b>?</b></div><div style="font-family: 'arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; margin: 0px;">(based on a hypothetical $10,000 investment)</div> <table style="margin-top: 2pt; break-inside: avoid-page; page-break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; font-weight: bold; line-height: 11pt; background-color: rgb(255, 206, 0); vertical-align: bottom; text-align: left; padding: 2pt 0 2pt 0;">Class name</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; font-weight: bold; line-height: 11pt; background-color: rgb(255, 206, 0); text-align: center; vertical-align: bottom; padding: 2pt 0 2pt 0;">Costs of a $10,000<br/>investment</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; font-weight: bold; line-height: 11pt; background-color: rgb(255, 206, 0); text-align: center; vertical-align: bottom; padding: 2pt 0 2pt 0;">Costs paid as a percentage of a<br/>$10,000 investment</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; vertical-align: bottom; font-size: 8pt; line-height: 10pt; text-align: left; padding: 4pt 0 2pt 0;">Class K Shares</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: center; font-size: 8pt; line-height: 10pt; padding: 4pt 0 2pt 0;"><span style="float: none;">$</span>89</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: center; font-size: 8pt; line-height: 10pt; white-space: nowrap; padding: 4pt 0 2pt 0;">0.81<span>%</span></td> </tr> </table> 89 0.0081 <div style="font-family: 'arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); margin-bottom: 0px;"> <div style="font-family: 'arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); break-inside: avoid-page; page-break-inside: avoid; margin-bottom: 3.5pt;"> <div style="font-family: 'arial'; font-kerning: none; font-weight: bold; font-size: 10pt; color: rgb(0, 0, 0); margin: 0px 0px -0.18pt 0px;"><b>How did the </b> <b>Fund</b> <b> perform </b> <b>last year</b> <b>?</b></div> </div> <ul style="counter-reset: numberedlisting 0 letteringlisting 0 letteredhead 0 lcrmnhead 0 ucletteredhead 0 ucrmnhead 0; break-inside: avoid-page; page-break-inside: avoid; padding: 0; margin: 3.5pt 0 3.5pt 0;"> <li style="font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding-left: 4pt; list-style-type: disc; font-size: 8pt; line-height: 12.32pt; text-align: justify; margin-left: 34px;"> <div style="font-family: 'arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-size: inherit; margin: 0px;">For the reporting period ended April 30, 2026, the Fund’s Class K Shares returned 20.47%.</div> </li> <li style="font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding-left: 4pt; list-style-type: disc; font-size: 8pt; line-height: 12.32pt; text-align: justify; margin-left: 34px;"> <div style="font-family: 'arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-size: inherit; margin: 0px;">For the same period, the Fund’s benchmark, the MSCI Emerging Markets Index (Net) returned 46.68% and the MSCI Emerging Markets Minimum Volatility Index (Net) returned 20.45%.</div> </li> </ul> <div style="font-family: 'arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); break-inside: avoid-page; page-break-inside: avoid; margin-bottom: 3.5pt;"> <div style="font-family: 'arial'; font-kerning: none; font-size: 10pt; font-weight: normal; letter-spacing: normal; text-transform: none; color: rgb(0, 0, 0); margin: 0px 0px 5pt 0px;">What contributed to performance?</div> <div style="font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; margin: 0px 0px 3.5pt 0px;">The Fund delivered positive absolute returns over the reporting period, supported primarily by quality, sentiment, and macro thematic insights. Quality-related measures were the strongest contributors, particularly those focused on operating cash flow strength, earnings quality, and disciplined balance sheet characteristics. Sentiment insights also helped results, as the assessment of analyst revisions, broker sentiment, and flow-related measures adapted well to changing market conditions. Macro thematic positioning further contributed through country and industry-level insights that gauge yield curve dynamics, foreign exchange reserves, and inventory-related trends. Information technology and financials were the largest contributors from a sector perspective, with additional gains from communication services, energy, and industrials. Country performance was strongest in Taiwan, South Korea, and China, highlighted by holdings in semiconductors, banks, and energy stocks.</div> </div> <div style="font-family: 'arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); break-inside: avoid-page; page-break-inside: avoid; margin-bottom: 3.5pt;"> <div style="font-family: 'arial'; font-kerning: none; font-size: 10pt; font-weight: normal; letter-spacing: normal; text-transform: none; color: rgb(0, 0, 0); margin: 0px 0px 5pt 0px;">What detracted from performance?</div> <div style="font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; margin: 0px 0px 3.5pt 0px;">While the Fund’s overall performance was positive, traditional valuation measures—particularly those tied to cash flow and sales-based valuation characteristics—detracted. Certain country-level thematic insights also struggled, with flow, energy production, and long-term reversion related measures representing the largest detractors. Healthcare, consumer discretionary, and consumer staples were the most notable detractors in terms of sectors, while India was the leading detractor at the country level.</div> </div> <div style="font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; margin: 0px 0px 3.5pt 0px;"><i>The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.</i></div> </div> <div style="font-family: 'arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); break-inside: avoid;"> <div style="font-family: 'arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); margin-bottom: 5pt;"> <div style="font-family: 'arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); break-inside: avoid-page; page-break-inside: avoid;"> <div style="font-family: 'arial'; font-kerning: none; font-weight: bold; font-size: 10pt; color: rgb(0, 0, 0); margin: 0px 0px -0.18pt 0px;">Fund performance</div> <div style="font-family: 'arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; margin: 0px;">Cumulative performance: December 21, 2020 through April 30, 2026</div> </div> <div style="font-family: 'arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; margin: 0px;">Initial investment of $10,000</div> </div> <div style="font-family: 'arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); margin-top: 5pt; margin-bottom: 5pt; text-align: center;"> <img alt="Fund Performance - Growth of 10K" src="g130909chartimages_6828816.jpg" style="width: 525pt;"/> </div> <div style="font-family: 'arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); padding-left: 10pt; margin-bottom: 7.2pt;"> <div style="font-family: 'arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; text-indent: -10pt; padding: 0px; margin: 0px;"> See “Average annual total returns” for additional information on fund performance.</div> </div> </div> <table style="break-inside: avoid-page; page-break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; background-color: rgb(255, 206, 0); border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); vertical-align: bottom; width: auto; font-weight: bold; font-style: normal; font-size: 10pt; text-align: left; text-indent: 0; letter-spacing: normal; text-transform: none; font-kerning: none; margin-top: 0; margin-bottom: 0; padding: 2pt 0 1.5pt 0;">Average annual total returns</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; text-align: left; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; width: auto; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">1 Year</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; text-align: left; width: auto; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; width: auto; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">5 Years</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; text-align: left; width: auto; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; width: auto; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">Since Fund<br/>Inception</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; text-align: left; width: auto; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; text-align: left; overflow-x: hidden; font-weight: normal; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 6pt;">Class K Shares</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">20.47</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"><span>%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">6.64</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"><span>%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">7.74</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; text-align: left; overflow-x: hidden; font-weight: normal; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 6pt;">MSCI Emerging Markets Index (Net)</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">46.68</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">6.05</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">7.13</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; text-align: left; overflow-x: hidden; font-weight: normal; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 6pt;">MSCI Emerging Markets Minimum Volatility Index (Net)</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">20.45</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 1.6pt 0;"></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">5.01</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 1.6pt 0;"></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">5.93</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 1.6pt 0;"></td> </tr> </table> Class K Shares 0.2047 0.0664 0.0774 MSCI Emerging Markets Index (Net) 0.4668 0.0605 0.0713 MSCI Emerging Markets Minimum Volatility Index (Net) 0.2045 0.0501 0.0593 <table style="break-inside: avoid-page; page-break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; background-color: rgb(255, 206, 0); border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); vertical-align: bottom; width: auto; font-weight: bold; font-size: 10pt; line-height: normal; text-align: left; text-indent: 0; letter-spacing: normal; text-transform: none; font-kerning: none; margin-top: 0; margin-bottom: 0; padding: 2pt 0 1.5pt 0;">Key Fund statistics</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Net Assets</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; white-space: nowrap; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;"><span style="float: none;">$</span>13,605,322</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Number of Portfolio Holdings</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; white-space: nowrap; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;">188</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Net Investment Advisory Fees</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; white-space: nowrap; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;"><span style="float: none;">$</span>0</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 1.6pt 6pt;">Portfolio Turnover Rate</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; white-space: nowrap; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 1.6pt 6pt;">211<span>%</span></td> </tr> </table> 13605322 188 0 2.11 2020-12-21 Past performance is not an indication of future results. Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. Visit <span style="color: rgb(0, 0, 0); font-weight: bold; text-decoration-line: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify;">blackrock.com</span> for more recent performance information. <div style="font-family: 'arial'; font-kerning: none; font-weight: bold; font-size: 10pt; color: rgb(0, 0, 0); margin: 0px 0px -0.18pt 0px;">What did the Fund invest in?</div> <div style="font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-family: 'arial'; text-align: justify; font-size: 9pt; line-height: 11.4pt; margin: 0px;">(as of April 30, 2026)</div> <table style="page-break-inside: avoid; break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; background-color: rgb(255, 206, 0); border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td colspan="3" style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); white-space: nowrap; vertical-align: bottom; width: auto; font-weight: normal; font-style: normal; font-size: 10pt; line-height: normal; text-align: left; text-indent: 0; letter-spacing: normal; text-transform: none; font-kerning: none; margin-top: 0; margin-bottom: 0; padding: 2pt 0 1.5pt 0;"><strong>Geographic allocation</strong></td> </tr> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-size: 8pt; white-space: nowrap; font-weight: normal; text-align: left; vertical-align: bottom; text-indent: -6pt; width: auto; padding: 1.6pt 0 0 6pt;"><em>Country/Geographic Region</em></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;">Percent of<br/>Net Assets</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; text-align: left; width: auto; font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">China</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">20.3</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Taiwan</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">17.1</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">India</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">13.9</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">South Korea</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">10.8</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Saudi Arabia</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">7.4</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Malaysia</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">4.8</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">United Arab Emirates</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">4.2</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">United States</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.9</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Kuwait</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.5</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Qatar</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.3</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Other<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">#</sup></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">12.9</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 1.6pt 6pt;">Liabilities in Excess of Other Assets</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 1.6pt 0;">(0.1</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 1.6pt 0;"><span>)</span><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> </table> <table style="page-break-inside: avoid; break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; font-style: italic; font-size: 8pt; line-height: 10pt; background-color: rgb(255, 206, 0); border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td colspan="3" style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); white-space: nowrap; vertical-align: bottom; width: auto; font-weight: normal; font-style: normal; font-size: 10pt; line-height: normal; text-align: left; text-indent: 0; letter-spacing: normal; text-transform: none; font-kerning: none; margin-top: 0; margin-bottom: 0; padding: 2pt 6pt 1.5pt 0;"><strong>Ten largest holdings</strong></td> </tr> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-size: 8pt; white-space: nowrap; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Security<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;">Percent of<br/>Net Assets</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; text-align: left; width: auto; font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Samsung Electro-Mechanics Co. Ltd.</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.8</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">SK Hynix, Inc.</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.6</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Delta Electronics, Inc.</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.5</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Taiwan Semiconductor Manufacturing Co. Ltd.</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.5</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">PetroChina Co. Ltd., Class H</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.5</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Chroma ATE, Inc.</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.5</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">ASE Technology Holding Co. Ltd.</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.5</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Ooredoo QPSC</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.5</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Samsung Electronics Co. Ltd.</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.5</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 1.6pt 6pt;">Bharti Airtel Ltd.</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 1.6pt 0;">1.5</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 1.6pt 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> </table> <table style="width: 100%; border-collapse: collapse; break-inside: avoid-page; page-break-inside: avoid; margin-top: 0px;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; width: initial; text-indent: 0; padding: 1.6pt 6pt 0 0;"> <div style="font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; padding: 0px; margin: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></div> </td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; text-indent: 0; width: 100%; padding: 1.6pt 0 0 0;"> <div style="font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; padding: 0px; margin: 0px;">Excludes short-term securities.</div> </td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; width: initial; vertical-align: top; text-indent: 0; padding: 0 6pt 0 0;"> <div style="font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; padding: 0px; margin: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">#</sup></div> </td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; width: 100%; padding: 0;"> <div style="font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; padding: 0px; margin: 0px;">Ten largest countries/geographic regions are presented. Additional countries/geographic regions are found in Other.</div> </td> </tr> </table> 0.203 0.171 0.139 0.108 0.074 0.048 0.042 0.039 0.025 0.023 0.129 -0.001 <table style="page-break-inside: avoid; break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; font-style: italic; font-size: 8pt; line-height: 10pt; background-color: rgb(255, 206, 0); border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td colspan="3" style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); white-space: nowrap; vertical-align: bottom; width: auto; font-weight: normal; font-style: normal; font-size: 10pt; line-height: normal; text-align: left; text-indent: 0; letter-spacing: normal; text-transform: none; font-kerning: none; margin-top: 0; margin-bottom: 0; padding: 2pt 6pt 1.5pt 0;"><strong>Ten largest holdings</strong></td> </tr> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-size: 8pt; white-space: nowrap; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Security<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;">Percent of<br/>Net Assets</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; text-align: left; width: auto; font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Samsung Electro-Mechanics Co. Ltd.</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.8</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">SK Hynix, Inc.</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.6</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Delta Electronics, Inc.</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.5</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Taiwan Semiconductor Manufacturing Co. Ltd.</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.5</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">PetroChina Co. Ltd., Class H</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.5</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Chroma ATE, Inc.</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.5</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">ASE Technology Holding Co. Ltd.</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.5</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Ooredoo QPSC</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.5</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Samsung Electronics Co. Ltd.</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.5</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 1.6pt 6pt;">Bharti Airtel Ltd.</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 1.6pt 0;">1.5</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 1.6pt 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> </table>(a)Excludes short-term securities. 0.018 0.016 0.015 0.015 0.015 0.015 0.015 0.015 0.015 0.015 BlackRock Global Equity Market Neutral Fund Institutional Shares BDMIX This annual shareholder report contains important information about BlackRock Global Equity Market Neutral Fund (the “Fund”) for the period of May 1, 2025 to April 30, 2026. annual shareholder report You can find additional information about the Fund at <span style="color: rgb(0, 0, 0); font-weight: bold; text-decoration-line: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify;">blackrock.com/fundreports</span>. You can also request this information by contacting us at (800) 441‑7762. blackrock.com/fundreports (800) 441‑7762 <div style="font-family: 'arial'; font-kerning: none; font-weight: bold; font-size: 10pt; color: rgb(0, 0, 0); margin: 0px 0px -0.18pt 0px;"><b>What were the </b> <b>Fund</b> <b> costs for the </b> <b>last year</b> <b>?</b></div><div style="font-family: 'arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; margin: 0px;">(based on a hypothetical $10,000 investment)</div> <table style="margin-top: 2pt; break-inside: avoid-page; page-break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; font-weight: bold; line-height: 11pt; background-color: rgb(255, 206, 0); vertical-align: bottom; text-align: left; padding: 2pt 0 2pt 0;">Class name</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; font-weight: bold; line-height: 11pt; background-color: rgb(255, 206, 0); text-align: center; vertical-align: bottom; padding: 2pt 0 2pt 0;">Costs of a $10,000<br/>investment</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; font-weight: bold; line-height: 11pt; background-color: rgb(255, 206, 0); text-align: center; vertical-align: bottom; padding: 2pt 0 2pt 0;">Costs paid as a percentage of a<br/>$10,000 investment</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; vertical-align: bottom; font-size: 8pt; line-height: 10pt; text-align: left; padding: 4pt 0 2pt 0;">Institutional Shares</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: center; font-size: 8pt; line-height: 10pt; padding: 4pt 0 2pt 0;"><span style="float: none;">$</span>147</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: center; font-size: 8pt; line-height: 10pt; white-space: nowrap; padding: 4pt 0 2pt 0;">1.34<span>%</span></td> </tr> </table> 147 0.0134 <div style="font-family: 'arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); margin-bottom: 0px;"> <div style="font-family: 'arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); break-inside: avoid-page; page-break-inside: avoid; margin-bottom: 3.5pt;"> <div style="font-family: 'arial'; font-kerning: none; font-weight: bold; font-size: 10pt; color: rgb(0, 0, 0); margin: 0px 0px -0.18pt 0px;"><b>How did the </b> <b>Fund</b> <b> perform </b> <b>last year</b> <b>?</b></div> </div> <ul style="counter-reset: numberedlisting 0 letteringlisting 0 letteredhead 0 lcrmnhead 0 ucletteredhead 0 ucrmnhead 0; break-inside: avoid-page; page-break-inside: avoid; padding: 0; margin: 3.5pt 0 3.5pt 0;"> <li style="font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding-left: 4pt; list-style-type: disc; font-size: 8pt; line-height: 12.32pt; text-align: justify; margin-left: 34px;"> <div style="font-family: 'arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-size: inherit; margin: 0px;">For the reporting period ended April 30, 2026, the Fund’s Institutional Shares returned 18.68%.</div> </li> <li style="font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding-left: 4pt; list-style-type: disc; font-size: 8pt; line-height: 12.32pt; text-align: justify; margin-left: 34px;"> <div style="font-family: 'arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-size: inherit; margin: 0px;">For the same period, the Fund’s benchmark, the MSCI World Index (Net) returned 29.16% and the ICE BofA 3-Month U.S. Treasury Bill Index returned 3.95%</div> </li> </ul> <div style="font-family: 'arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); break-inside: avoid-page; page-break-inside: avoid; margin-bottom: 3.5pt;"> <div style="font-family: 'arial'; font-kerning: none; font-size: 10pt; font-weight: normal; letter-spacing: normal; text-transform: none; color: rgb(0, 0, 0); margin: 0px 0px 5pt 0px;">What contributed to performance?</div> <div style="font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; margin: 0px 0px 3.5pt 0px;">Sentiment insights were the strongest contributors to absolute performance. The measures successfully adapted to multiple market trends, including artificial intelligence, fiscal stimulus, inflation, and geopolitical developments, particularly the Iran conflict toward the end of the period. Linkage-based measures (i.e., comparisons of similar companies) and trend-following insights were particularly effective in identifying changing market leadership. Long positions, together with stock selection in Europe, made the largest contribution in this segment of the Fund. Macro thematic insights also contributed positively, especially through positioning in energy, infrastructure, and trade-related themes. Positioning in the financials and energy sectors added to returns through selective longs in banks and industrial-related companies against shorts in insurance, diversified financial, and trade-sensitive businesses.</div> </div> <div style="font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; margin: 0px 0px 3.5pt 0px;">The Fund used derivatives to implement its stock selection strategy more efficiently. The use of derivatives did not have a material impact on results. The Fund's cash position had no material impact on performance.</div> <div style="font-family: 'arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); break-inside: avoid-page; page-break-inside: avoid; margin-bottom: 3.5pt;"> <div style="font-family: 'arial'; font-kerning: none; font-size: 10pt; font-weight: normal; letter-spacing: normal; text-transform: none; color: rgb(0, 0, 0); margin: 0px 0px 5pt 0px;">What detracted from performance?</div> <div style="font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; margin: 0px 0px 3.5pt 0px;">Fundamental insights detracted early in the reporting period as speculative market leadership and momentum-driven rallies acted as a headwind for more defensive positioning. The weakness was most notable in traditional valuation and quality measures, as investors aggressively rotated toward perceived artificial intelligence winners and higher-beta growth stocks. Measures tied to profitability, earnings expectations, and company management sentiment also struggled amid rapidly changing investor preferences. However, fundamental insights rebounded late in the period as rising geopolitical tensions associated with the Iran conflict led investors to refocus on earnings resilience, valuations, and defensive characteristics.</div> </div> <div style="font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; margin: 0px 0px 3.5pt 0px;"><i>The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.</i></div> </div> <div style="font-family: 'arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); break-inside: avoid;"> <div style="font-family: 'arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); margin-bottom: 5pt;"> <div style="font-family: 'arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); break-inside: avoid-page; page-break-inside: avoid;"> <div style="font-family: 'arial'; font-kerning: none; font-weight: bold; font-size: 10pt; color: rgb(0, 0, 0); margin: 0px 0px -0.18pt 0px;">Fund performance</div> <div style="font-family: 'arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; margin: 0px;">Cumulative performance: May 1, 2016 through April 30, 2026</div> </div> <div style="font-family: 'arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; margin: 0px;">Initial investment of $10,000</div> </div> <div style="font-family: 'arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); margin-top: 5pt; margin-bottom: 5pt; text-align: center;"> <img alt="Fund Performance - Growth of 10K" src="g130909chartimages_6828956.jpg" style="width: 525pt;"/> </div> <div style="font-family: 'arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); padding-left: 10pt; margin-bottom: 7.2pt;"> <div style="font-family: 'arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; text-indent: -10pt; padding: 0px; margin: 0px;"> See “Average annual total returns” for additional information on fund performance.</div> </div> </div> <table style="break-inside: avoid-page; page-break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; background-color: rgb(255, 206, 0); border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); vertical-align: bottom; width: auto; font-weight: bold; font-style: normal; font-size: 10pt; text-align: left; text-indent: 0; letter-spacing: normal; text-transform: none; font-kerning: none; margin-top: 0; margin-bottom: 0; padding: 2pt 0 1.5pt 0;">Average annual total returns</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; text-align: left; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; width: auto; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">1 Year</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; text-align: left; width: auto; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; width: auto; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">5 Years</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; text-align: left; width: auto; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; width: auto; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">10 Years</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; text-align: left; width: auto; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; text-align: left; overflow-x: hidden; font-weight: normal; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 6pt;">Institutional Shares</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">18.68</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"><span>%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">12.08</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"><span>%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">7.71</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; text-align: left; overflow-x: hidden; font-weight: normal; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 6pt;">MSCI World Index (Net)</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">29.16</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">11.29</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">12.65</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; text-align: left; overflow-x: hidden; font-weight: normal; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 6pt;">ICE BofA 3-Month U.S. Treasury Bill Index</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">3.95</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 1.6pt 0;"></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">3.40</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 1.6pt 0;"></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">2.29</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 1.6pt 0;"></td> </tr> </table> Institutional Shares 0.1868 0.1208 0.0771 MSCI World Index (Net) 0.2916 0.1129 0.1265 ICE BofA 3-Month U.S. Treasury Bill Index 0.0395 0.0340 0.0229 <table style="break-inside: avoid-page; page-break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; background-color: rgb(255, 206, 0); border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); vertical-align: bottom; width: auto; font-weight: bold; font-size: 10pt; line-height: normal; text-align: left; text-indent: 0; letter-spacing: normal; text-transform: none; font-kerning: none; margin-top: 0; margin-bottom: 0; padding: 2pt 0 1.5pt 0;">Key Fund statistics</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Net Assets</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; white-space: nowrap; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;"><span style="float: none;">$</span>11,357,741,388</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Number of Portfolio Holdings</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; white-space: nowrap; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;">12,843</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Net Investment Advisory Fees</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; white-space: nowrap; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;"><span style="float: none;">$</span>85,637,747</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 1.6pt 6pt;">Portfolio Turnover Rate</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; white-space: nowrap; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 1.6pt 6pt;">113<span>%</span></td> </tr> </table> 11357741388 12843 85637747 1.13 <div style="font-family: 'arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; padding: 0px; margin: 0px 0px 6pt 0px;">On December 1, 2023, the Fund began to compare its performance to the standard pricing time of the ICE BofA 3-Month U.S. Treasury Bill Index (the “Index”). Index data prior to March 1, 2021 is for the Index’s standard pricing time of 3pm. Index data from March 1, 2021 through November 30, 2023 is for a custom 4pm pricing variant of the Index. Index returns beginning on December 1, 2023 reflect the Index’s new standard pricing time of 4pm. The change of the Index’s standard pricing time from 3pm to 4pm resulted in the discontinuation of the custom 4pm pricing variant used from March 1, 2021 through November 30, 2023.</div> Past performance is not an indication of future results. Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. Visit <span style="color: rgb(0, 0, 0); font-weight: bold; text-decoration-line: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify;">blackrock.com</span> for more recent performance information. <div style="font-family: 'arial'; font-kerning: none; font-weight: bold; font-size: 10pt; color: rgb(0, 0, 0); margin: 0px 0px -0.18pt 0px;">What did the Fund invest in?</div> <div style="font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-family: 'arial'; text-align: justify; font-size: 9pt; line-height: 11.4pt; margin: 0px;">(as of April 30, 2026)</div> <table style="page-break-inside: avoid; break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; background-color: rgb(255, 206, 0); border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td colspan="7" style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); white-space: nowrap; vertical-align: bottom; width: auto; font-weight: normal; font-style: normal; font-size: 10pt; line-height: normal; text-align: left; text-indent: 0; letter-spacing: normal; text-transform: none; font-kerning: none; margin-top: 0; margin-bottom: 0; padding: 2pt 0 1.5pt 0;"><strong>Geographic allocation</strong></td> </tr> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-size: 8pt; white-space: nowrap; font-weight: normal; text-align: left; vertical-align: bottom; text-indent: -6pt; width: auto; padding: 1.6pt 0 0 6pt;"></td> <td colspan="6" style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;">Percent of Total<br/>Investments<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></td> </tr> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-size: 8pt; white-space: nowrap; font-weight: normal; text-align: left; vertical-align: bottom; text-indent: -6pt; width: auto; padding: 1.6pt 0 0 6pt;">Country/Geographic Region</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;">Long</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; text-align: left; width: auto; font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;"></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;">Short</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; text-align: left; width: auto; font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;"></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;">Total</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; text-align: left; width: auto; font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">United States</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">19.9</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 6pt 0 0;"><span>%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">18.5</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 6pt 0 0;"><span>%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">38.4</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Japan</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">10.2</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 6pt 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">10.1</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 6pt 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">20.3</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Canada</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.6</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 6pt 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.5</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 6pt 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">7.1</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">United Kingdom</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.6</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 6pt 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.4</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 6pt 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">5.0</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Germany</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.1</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 6pt 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.8</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 6pt 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.9</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Australia</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.9</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 6pt 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.0</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 6pt 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.9</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">France</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.7</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 6pt 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.1</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 6pt 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.8</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Switzerland</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.1</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 6pt 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.2</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 6pt 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.3</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Sweden</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.0</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 6pt 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.3</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 6pt 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.3</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Netherlands</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">0.9</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 6pt 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.1</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 6pt 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.0</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;"><span style="white-space: nowrap;">Other<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">#</sup></span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">5.6</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 6pt 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">5.4</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 6pt 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">11.0</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;"></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; border-top-color: rgb(0, 0, 0); border-top-style: solid; border-top-width: 0.5pt; padding: 2pt 0 0 0;">50.6</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; border-top-color: rgb(0, 0, 0); border-top-style: solid; border-top-width: 0.5pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; border-top-color: rgb(0, 0, 0); border-top-style: solid; border-top-width: 0.5pt; padding: 2pt 0 0 0;">49.4</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; border-top-color: rgb(0, 0, 0); border-top-style: solid; border-top-width: 0.5pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; border-top-color: rgb(0, 0, 0); border-top-style: solid; border-top-width: 0.5pt; padding: 2pt 0 0 0;">100.0</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; border-top-color: rgb(0, 0, 0); border-top-style: solid; border-top-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> </tr> </table> <table style="width: 100%; border-collapse: collapse; break-inside: avoid-page; page-break-inside: avoid; margin-top: 0px;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; width: initial; text-indent: 0; padding: 1.6pt 6pt 0 0;"> <div style="font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; padding: 0px; margin: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></div> </td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; text-indent: 0; width: 100%; padding: 1.6pt 0 0 0;"> <div style="font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; padding: 0px; margin: 0px;">Include the gross market values of long and short securities of the underlying derivative contracts and excludes short-term securities and options, if any.</div> </td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; width: initial; vertical-align: top; text-indent: 0; padding: 0 6pt 0 0;"> <div style="font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; padding: 0px; margin: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">#</sup></div> </td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; width: 100%; padding: 0;"> <div style="font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; padding: 0px; margin: 0px;">Ten largest countries/geographic regions are presented. Additional countries/geographic regions are found in Other.</div> </td> </tr> </table> 0.199 0.185 0.384 0.102 0.101 0.203 0.036 0.035 0.071 0.026 0.024 0.050 0.021 0.018 0.039 0.019 0.020 0.039 0.017 0.021 0.038 0.011 0.012 0.023 0.010 0.013 0.023 0.009 0.011 0.020 0.056 0.054 0.110 0.506 0.494 1.000 BlackRock Global Equity Market Neutral Fund Investor A Shares BDMAX This annual shareholder report contains important information about BlackRock Global Equity Market Neutral Fund (the “Fund”) for the period of May 1, 2025 to April 30, 2026. annual shareholder report You can find additional information about the Fund at <span style="color: rgb(0, 0, 0); font-weight: bold; text-decoration-line: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify;">blackrock.com/fundreports</span>. You can also request this information by contacting us at (800) 441‑7762. blackrock.com/fundreports (800) 441‑7762 <div style="font-family: 'arial'; font-kerning: none; font-weight: bold; font-size: 10pt; color: rgb(0, 0, 0); margin: 0px 0px -0.18pt 0px;"><b>What were the </b> <b>Fund</b> <b> costs for the </b> <b>last year</b> <b>?</b></div><div style="font-family: 'arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; margin: 0px;">(based on a hypothetical $10,000 investment)</div> <table style="margin-top: 2pt; break-inside: avoid-page; page-break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; font-weight: bold; line-height: 11pt; background-color: rgb(255, 206, 0); vertical-align: bottom; text-align: left; padding: 2pt 0 2pt 0;">Class name</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; font-weight: bold; line-height: 11pt; background-color: rgb(255, 206, 0); text-align: center; vertical-align: bottom; padding: 2pt 0 2pt 0;">Costs of a $10,000<br/>investment</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; font-weight: bold; line-height: 11pt; background-color: rgb(255, 206, 0); text-align: center; vertical-align: bottom; padding: 2pt 0 2pt 0;">Costs paid as a percentage of a<br/>$10,000 investment</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; vertical-align: bottom; font-size: 8pt; line-height: 10pt; text-align: left; padding: 4pt 0 2pt 0;">Investor A Shares</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: center; font-size: 8pt; line-height: 10pt; padding: 4pt 0 2pt 0;"><span style="float: none;">$</span>174</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: center; font-size: 8pt; line-height: 10pt; white-space: nowrap; padding: 4pt 0 2pt 0;">1.59<span>%</span></td> </tr> </table> 174 0.0159 <div style="font-family: 'arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); margin-bottom: 0px;"> <div style="font-family: 'arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); break-inside: avoid-page; page-break-inside: avoid; margin-bottom: 3.5pt;"> <div style="font-family: 'arial'; font-kerning: none; font-weight: bold; font-size: 10pt; color: rgb(0, 0, 0); margin: 0px 0px -0.18pt 0px;"><b>How did the </b> <b>Fund</b> <b> perform </b> <b>last year</b> <b>?</b></div> </div> <ul style="counter-reset: numberedlisting 0 letteringlisting 0 letteredhead 0 lcrmnhead 0 ucletteredhead 0 ucrmnhead 0; break-inside: avoid-page; page-break-inside: avoid; padding: 0; margin: 3.5pt 0 3.5pt 0;"> <li style="font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding-left: 4pt; list-style-type: disc; font-size: 8pt; line-height: 12.32pt; text-align: justify; margin-left: 34px;"> <div style="font-family: 'arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-size: inherit; margin: 0px;">For the reporting period ended April 30, 2026, the Fund’s Investor A Shares returned 18.43%.</div> </li> <li style="font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding-left: 4pt; list-style-type: disc; font-size: 8pt; line-height: 12.32pt; text-align: justify; margin-left: 34px;"> <div style="font-family: 'arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-size: inherit; margin: 0px;">For the same period, the Fund’s benchmark, the MSCI World Index (Net) returned 29.16% and the ICE BofA 3-Month U.S. Treasury Bill Index returned 3.95%</div> </li> </ul> <div style="font-family: 'arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); break-inside: avoid-page; page-break-inside: avoid; margin-bottom: 3.5pt;"> <div style="font-family: 'arial'; font-kerning: none; font-size: 10pt; font-weight: normal; letter-spacing: normal; text-transform: none; color: rgb(0, 0, 0); margin: 0px 0px 5pt 0px;">What contributed to performance?</div> <div style="font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; margin: 0px 0px 3.5pt 0px;">Sentiment insights were the strongest contributors to absolute performance. The measures successfully adapted to multiple market trends, including artificial intelligence, fiscal stimulus, inflation, and geopolitical developments, particularly the Iran conflict toward the end of the period. Linkage-based measures (i.e., comparisons of similar companies) and trend-following insights were particularly effective in identifying changing market leadership. Long positions, together with stock selection in Europe, made the largest contribution in this segment of the Fund. Macro thematic insights also contributed positively, especially through positioning in energy, infrastructure, and trade-related themes. Positioning in the financials and energy sectors added to returns through selective longs in banks and industrial-related companies against shorts in insurance, diversified financial, and trade-sensitive businesses.</div> </div> <div style="font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; margin: 0px 0px 3.5pt 0px;">The Fund used derivatives to implement its stock selection strategy more efficiently. The use of derivatives did not have a material impact on results. The Fund's cash position had no material impact on performance.</div> <div style="font-family: 'arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); break-inside: avoid-page; page-break-inside: avoid; margin-bottom: 3.5pt;"> <div style="font-family: 'arial'; font-kerning: none; font-size: 10pt; font-weight: normal; letter-spacing: normal; text-transform: none; color: rgb(0, 0, 0); margin: 0px 0px 5pt 0px;">What detracted from performance?</div> <div style="font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; margin: 0px 0px 3.5pt 0px;">Fundamental insights detracted early in the reporting period as speculative market leadership and momentum-driven rallies acted as a headwind for more defensive positioning. The weakness was most notable in traditional valuation and quality measures, as investors aggressively rotated toward perceived artificial intelligence winners and higher-beta growth stocks. Measures tied to profitability, earnings expectations, and company management sentiment also struggled amid rapidly changing investor preferences. However, fundamental insights rebounded late in the period as rising geopolitical tensions associated with the Iran conflict led investors to refocus on earnings resilience, valuations, and defensive characteristics.</div> </div> <div style="font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; margin: 0px 0px 3.5pt 0px;"><i>The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.</i></div> </div> <div style="font-family: 'arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); break-inside: avoid;"> <div style="font-family: 'arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); margin-bottom: 5pt;"> <div style="font-family: 'arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); break-inside: avoid-page; page-break-inside: avoid;"> <div style="font-family: 'arial'; font-kerning: none; font-weight: bold; font-size: 10pt; color: rgb(0, 0, 0); margin: 0px 0px -0.18pt 0px;">Fund performance</div> <div style="font-family: 'arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; margin: 0px;">Cumulative performance: May 1, 2016 through April 30, 2026</div> </div> <div style="font-family: 'arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; margin: 0px;">Initial investment of $10,000</div> </div> <div style="font-family: 'arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); margin-top: 5pt; margin-bottom: 5pt; text-align: center;"> <img alt="Fund Performance - Growth of 10K" src="g130909chartimages_6828893.jpg" style="width: 525pt;"/> </div> <div style="font-family: 'arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); padding-left: 10pt; margin-bottom: 7.2pt;"> <div style="font-family: 'arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; text-indent: -10pt; padding: 0px; margin: 0px;"> See “Average annual total returns” for additional information on fund performance.</div> </div> </div> <table style="break-inside: avoid-page; page-break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; background-color: rgb(255, 206, 0); border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); vertical-align: bottom; width: auto; font-weight: bold; font-style: normal; font-size: 10pt; text-align: left; text-indent: 0; letter-spacing: normal; text-transform: none; font-kerning: none; margin-top: 0; margin-bottom: 0; padding: 2pt 0 1.5pt 0;">Average annual total returns</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; text-align: left; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; width: auto; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">1 Year</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; text-align: left; width: auto; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; width: auto; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">5 Years</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; text-align: left; width: auto; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; width: auto; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">10 Years</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; text-align: left; width: auto; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; text-align: left; overflow-x: hidden; font-weight: normal; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 6pt;">Investor A Shares</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">18.43</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"><span>%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">11.80</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"><span>%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">7.43</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; text-align: left; overflow-x: hidden; font-weight: normal; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 6pt;">Investor A Shares (with sales charge)</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">12.21</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">10.60</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">6.85</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; text-align: left; overflow-x: hidden; font-weight: normal; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 6pt;">MSCI World Index (Net)</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">29.16</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">11.29</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">12.65</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; text-align: left; overflow-x: hidden; font-weight: normal; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 6pt;">ICE BofA 3-Month U.S. Treasury Bill Index</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">3.95</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 1.6pt 0;"></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">3.40</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 1.6pt 0;"></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">2.29</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 1.6pt 0;"></td> </tr> </table> Investor A Shares 0.1843 0.1180 0.0743 Investor A Shares (with sales charge) 0.1221 0.1060 0.0685 MSCI World Index (Net) 0.2916 0.1129 0.1265 ICE BofA 3-Month U.S. Treasury Bill Index 0.0395 0.0340 0.0229 <table style="break-inside: avoid-page; page-break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; background-color: rgb(255, 206, 0); border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); vertical-align: bottom; width: auto; font-weight: bold; font-size: 10pt; line-height: normal; text-align: left; text-indent: 0; letter-spacing: normal; text-transform: none; font-kerning: none; margin-top: 0; margin-bottom: 0; padding: 2pt 0 1.5pt 0;">Key Fund statistics</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Net Assets</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; white-space: nowrap; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;"><span style="float: none;">$</span>11,357,741,388</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Number of Portfolio Holdings</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; white-space: nowrap; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;">12,843</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Net Investment Advisory Fees</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; white-space: nowrap; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;"><span style="float: none;">$</span>85,637,747</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 1.6pt 6pt;">Portfolio Turnover Rate</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; white-space: nowrap; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 1.6pt 6pt;">113<span>%</span></td> </tr> </table> 11357741388 12843 85637747 1.13 <div style="font-family: 'arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; padding: 0px; margin: 0px 0px 6pt 0px;">On December 1, 2023, the Fund began to compare its performance to the standard pricing time of the ICE BofA 3-Month U.S. Treasury Bill Index (the “Index”). Index data prior to March 1, 2021 is for the Index’s standard pricing time of 3pm. Index data from March 1, 2021 through November 30, 2023 is for a custom 4pm pricing variant of the Index. Index returns beginning on December 1, 2023 reflect the Index’s new standard pricing time of 4pm. The change of the Index’s standard pricing time from 3pm to 4pm resulted in the discontinuation of the custom 4pm pricing variant used from March 1, 2021 through November 30, 2023.</div> Past performance is not an indication of future results. Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. Visit <span style="color: rgb(0, 0, 0); font-weight: bold; text-decoration-line: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify;">blackrock.com</span> for more recent performance information. <div style="font-family: 'arial'; font-kerning: none; font-weight: bold; font-size: 10pt; color: rgb(0, 0, 0); margin: 0px 0px -0.18pt 0px;">What did the Fund invest in?</div> <div style="font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-family: 'arial'; text-align: justify; font-size: 9pt; line-height: 11.4pt; margin: 0px;">(as of April 30, 2026)</div> <table style="page-break-inside: avoid; break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; background-color: rgb(255, 206, 0); border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td colspan="7" style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); white-space: nowrap; vertical-align: bottom; width: auto; font-weight: normal; font-style: normal; font-size: 10pt; line-height: normal; text-align: left; text-indent: 0; letter-spacing: normal; text-transform: none; font-kerning: none; margin-top: 0; margin-bottom: 0; padding: 2pt 0 1.5pt 0;"><strong>Geographic allocation</strong></td> </tr> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-size: 8pt; white-space: nowrap; font-weight: normal; text-align: left; vertical-align: bottom; text-indent: -6pt; width: auto; padding: 1.6pt 0 0 6pt;"></td> <td colspan="6" style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;">Percent of Total<br/>Investments<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></td> </tr> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-size: 8pt; white-space: nowrap; font-weight: normal; text-align: left; vertical-align: bottom; text-indent: -6pt; width: auto; padding: 1.6pt 0 0 6pt;">Country/Geographic Region</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;">Long</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; text-align: left; width: auto; font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;"></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;">Short</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; text-align: left; width: auto; font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;"></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;">Total</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; text-align: left; width: auto; font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">United States</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">19.9</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 6pt 0 0;"><span>%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">18.5</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 6pt 0 0;"><span>%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">38.4</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Japan</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">10.2</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 6pt 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">10.1</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 6pt 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">20.3</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Canada</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.6</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 6pt 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.5</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 6pt 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">7.1</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">United Kingdom</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.6</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 6pt 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.4</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 6pt 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">5.0</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Germany</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.1</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 6pt 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.8</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 6pt 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.9</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Australia</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.9</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 6pt 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.0</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 6pt 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.9</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">France</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.7</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 6pt 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.1</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 6pt 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.8</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Switzerland</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.1</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 6pt 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.2</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 6pt 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.3</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Sweden</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.0</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 6pt 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.3</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 6pt 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.3</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Netherlands</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">0.9</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 6pt 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.1</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 6pt 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.0</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;"><span style="white-space: nowrap;">Other<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">#</sup></span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">5.6</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 6pt 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">5.4</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 6pt 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">11.0</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;"></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; border-top-color: rgb(0, 0, 0); border-top-style: solid; border-top-width: 0.5pt; padding: 2pt 0 0 0;">50.6</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; border-top-color: rgb(0, 0, 0); border-top-style: solid; border-top-width: 0.5pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; border-top-color: rgb(0, 0, 0); border-top-style: solid; border-top-width: 0.5pt; padding: 2pt 0 0 0;">49.4</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; border-top-color: rgb(0, 0, 0); border-top-style: solid; border-top-width: 0.5pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; border-top-color: rgb(0, 0, 0); border-top-style: solid; border-top-width: 0.5pt; padding: 2pt 0 0 0;">100.0</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; border-top-color: rgb(0, 0, 0); border-top-style: solid; border-top-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> </tr> </table> <table style="width: 100%; border-collapse: collapse; break-inside: avoid-page; page-break-inside: avoid; margin-top: 0px;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; width: initial; text-indent: 0; padding: 1.6pt 6pt 0 0;"> <div style="font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; padding: 0px; margin: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></div> </td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; text-indent: 0; width: 100%; padding: 1.6pt 0 0 0;"> <div style="font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; padding: 0px; margin: 0px;">Include the gross market values of long and short securities of the underlying derivative contracts and excludes short-term securities and options, if any.</div> </td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; width: initial; vertical-align: top; text-indent: 0; padding: 0 6pt 0 0;"> <div style="font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; padding: 0px; margin: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">#</sup></div> </td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; width: 100%; padding: 0;"> <div style="font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; padding: 0px; margin: 0px;">Ten largest countries/geographic regions are presented. Additional countries/geographic regions are found in Other.</div> </td> </tr> </table> 0.199 0.185 0.384 0.102 0.101 0.203 0.036 0.035 0.071 0.026 0.024 0.050 0.021 0.018 0.039 0.019 0.020 0.039 0.017 0.021 0.038 0.011 0.012 0.023 0.010 0.013 0.023 0.009 0.011 0.020 0.056 0.054 0.110 0.506 0.494 1.000 BlackRock Global Equity Market Neutral Fund Investor C Shares BDMCX This annual shareholder report contains important information about BlackRock Global Equity Market Neutral Fund (the “Fund”) for the period of May 1, 2025 to April 30, 2026. annual shareholder report You can find additional information about the Fund at <span style="color: rgb(0, 0, 0); font-weight: bold; text-decoration-line: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify;">blackrock.com/fundreports</span>. You can also request this information by contacting us at (800) 441‑7762. blackrock.com/fundreports (800) 441‑7762 <div style="font-family: 'arial'; font-kerning: none; font-weight: bold; font-size: 10pt; color: rgb(0, 0, 0); margin: 0px 0px -0.18pt 0px;"><b>What were the </b> <b>Fund</b> <b> costs for the </b> <b>last year</b> <b>?</b></div> <div style="font-family: 'arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; margin: 0px;">(based on a hypothetical $10,000 investment)</div> <table style="margin-top: 2pt; break-inside: avoid-page; page-break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; font-weight: bold; line-height: 11pt; background-color: rgb(255, 206, 0); vertical-align: bottom; text-align: left; padding: 2pt 0 2pt 0;">Class name</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; font-weight: bold; line-height: 11pt; background-color: rgb(255, 206, 0); text-align: center; vertical-align: bottom; padding: 2pt 0 2pt 0;">Costs of a $10,000<br/>investment</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; font-weight: bold; line-height: 11pt; background-color: rgb(255, 206, 0); text-align: center; vertical-align: bottom; padding: 2pt 0 2pt 0;">Costs paid as a percentage of a<br/>$10,000 investment</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; vertical-align: bottom; font-size: 8pt; line-height: 10pt; text-align: left; padding: 4pt 0 2pt 0;">Investor C Shares</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: center; font-size: 8pt; line-height: 10pt; padding: 4pt 0 2pt 0;"><span style="float: none;">$</span>250</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: center; font-size: 8pt; line-height: 10pt; white-space: nowrap; padding: 4pt 0 2pt 0;">2.30<span>%</span></td> </tr> </table> 250 0.0230 <div style="font-family: 'arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); margin-bottom: 0px;"> <div style="font-family: 'arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); break-inside: avoid-page; page-break-inside: avoid; margin-bottom: 3.5pt;"> <div style="font-family: 'arial'; font-kerning: none; font-weight: bold; font-size: 10pt; color: rgb(0, 0, 0); margin: 0px 0px -0.18pt 0px;"><b>How did the </b> <b>Fund</b> <b> perform </b> <b>last year</b> <b>?</b></div> </div> <ul style="counter-reset: numberedlisting 0 letteringlisting 0 letteredhead 0 lcrmnhead 0 ucletteredhead 0 ucrmnhead 0; break-inside: avoid-page; page-break-inside: avoid; padding: 0; margin: 3.5pt 0 3.5pt 0;"> <li style="font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding-left: 4pt; list-style-type: disc; font-size: 8pt; line-height: 12.32pt; text-align: justify; margin-left: 34px;"> <div style="font-family: 'arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-size: inherit; margin: 0px;">For the reporting period ended April 30, 2026, the Fund’s Investor C Shares returned 17.54%.</div> </li> <li style="font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding-left: 4pt; list-style-type: disc; font-size: 8pt; line-height: 12.32pt; text-align: justify; margin-left: 34px;"> <div style="font-family: 'arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-size: inherit; margin: 0px;">For the same period, the Fund’s benchmark, the MSCI World Index (Net) returned 29.16% and the ICE BofA 3-Month U.S. Treasury Bill Index returned 3.95%</div> </li> </ul> <div style="font-family: 'arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); break-inside: avoid-page; page-break-inside: avoid; margin-bottom: 3.5pt;"> <div style="font-family: 'arial'; font-kerning: none; font-size: 10pt; font-weight: normal; letter-spacing: normal; text-transform: none; color: rgb(0, 0, 0); margin: 0px 0px 5pt 0px;">What contributed to performance?</div> <div style="font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; margin: 0px 0px 3.5pt 0px;">Sentiment insights were the strongest contributors to absolute performance. The measures successfully adapted to multiple market trends, including artificial intelligence, fiscal stimulus, inflation, and geopolitical developments, particularly the Iran conflict toward the end of the period. Linkage-based measures (i.e., comparisons of similar companies) and trend-following insights were particularly effective in identifying changing market leadership. Long positions, together with stock selection in Europe, made the largest contribution in this segment of the Fund. Macro thematic insights also contributed positively, especially through positioning in energy, infrastructure, and trade-related themes. Positioning in the financials and energy sectors added to returns through selective longs in banks and industrial-related companies against shorts in insurance, diversified financial, and trade-sensitive businesses.</div> </div> <div style="font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; margin: 0px 0px 3.5pt 0px;">The Fund used derivatives to implement its stock selection strategy more efficiently. The use of derivatives did not have a material impact on results. The Fund's cash position had no material impact on performance.</div> <div style="font-family: 'arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); break-inside: avoid-page; page-break-inside: avoid; margin-bottom: 3.5pt;"> <div style="font-family: 'arial'; font-kerning: none; font-size: 10pt; font-weight: normal; letter-spacing: normal; text-transform: none; color: rgb(0, 0, 0); margin: 0px 0px 5pt 0px;">What detracted from performance?</div> <div style="font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; margin: 0px 0px 3.5pt 0px;">Fundamental insights detracted early in the reporting period as speculative market leadership and momentum-driven rallies acted as a headwind for more defensive positioning. The weakness was most notable in traditional valuation and quality measures, as investors aggressively rotated toward perceived artificial intelligence winners and higher-beta growth stocks. Measures tied to profitability, earnings expectations, and company management sentiment also struggled amid rapidly changing investor preferences. However, fundamental insights rebounded late in the period as rising geopolitical tensions associated with the Iran conflict led investors to refocus on earnings resilience, valuations, and defensive characteristics.</div> </div> <div style="font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; margin: 0px 0px 3.5pt 0px;"><i>The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.</i></div> </div> <div style="font-family: 'arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); break-inside: avoid;"> <div style="font-family: 'arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); margin-bottom: 5pt;"> <div style="font-family: 'arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); break-inside: avoid-page; page-break-inside: avoid;"> <div style="font-family: 'arial'; font-kerning: none; font-weight: bold; font-size: 10pt; color: rgb(0, 0, 0); margin: 0px 0px -0.18pt 0px;">Fund performance</div> <div style="font-family: 'arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; margin: 0px;">Cumulative performance: May 1, 2016 through April 30, 2026</div> </div> <div style="font-family: 'arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; margin: 0px;">Initial investment of $10,000</div> </div> <div style="font-family: 'arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); margin-top: 5pt; margin-bottom: 5pt; text-align: center;"> <img alt="Fund Performance - Growth of 10K" src="g130909chartimages_6828880.jpg" style="width: 525pt;"/> </div> <div style="font-family: 'arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); padding-left: 10pt; margin-bottom: 7.2pt;"> <div style="font-family: 'arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; text-indent: -10pt; padding: 0px; margin: 0px;"> See “Average annual total returns” for additional information on fund performance.</div> </div> </div> <table style="break-inside: avoid-page; page-break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; background-color: rgb(255, 206, 0); border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); vertical-align: bottom; width: auto; font-weight: bold; font-style: normal; font-size: 10pt; text-align: left; text-indent: 0; letter-spacing: normal; text-transform: none; font-kerning: none; margin-top: 0; margin-bottom: 0; padding: 2pt 0 1.5pt 0;">Average annual total returns</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; text-align: left; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; width: auto; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">1 Year</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; text-align: left; width: auto; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; width: auto; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">5 Years</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; text-align: left; width: auto; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; width: auto; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">10 Years</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; text-align: left; width: auto; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; text-align: left; overflow-x: hidden; font-weight: normal; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 6pt;">Investor C Shares</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">17.54</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"><span>%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">10.98</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"><span>%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">6.79</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; text-align: left; overflow-x: hidden; font-weight: normal; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 6pt;">Investor C Shares (with sales charge)</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">16.54</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">10.98</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">6.79</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; text-align: left; overflow-x: hidden; font-weight: normal; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 6pt;">MSCI World Index (Net)</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">29.16</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">11.29</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">12.65</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; text-align: left; overflow-x: hidden; font-weight: normal; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 6pt;">ICE BofA 3-Month U.S. Treasury Bill Index</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">3.95</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 1.6pt 0;"></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">3.40</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 1.6pt 0;"></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">2.29</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 1.6pt 0;"></td> </tr> </table> Investor C Shares 0.1754 0.1098 0.0679 Investor C Shares (with sales charge) 0.1654 0.1098 0.0679 MSCI World Index (Net) 0.2916 0.1129 0.1265 ICE BofA 3-Month U.S. Treasury Bill Index 0.0395 0.0340 0.0229 <table style="break-inside: avoid-page; page-break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; background-color: rgb(255, 206, 0); border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); vertical-align: bottom; width: auto; font-weight: bold; font-size: 10pt; line-height: normal; text-align: left; text-indent: 0; letter-spacing: normal; text-transform: none; font-kerning: none; margin-top: 0; margin-bottom: 0; padding: 2pt 0 1.5pt 0;">Key Fund statistics</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Net Assets</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; white-space: nowrap; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;"><span style="float: none;">$</span>11,357,741,388</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Number of Portfolio Holdings</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; white-space: nowrap; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;">12,843</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Net Investment Advisory Fees</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; white-space: nowrap; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;"><span style="float: none;">$</span>85,637,747</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 1.6pt 6pt;">Portfolio Turnover Rate</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; white-space: nowrap; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 1.6pt 6pt;">113<span>%</span></td> </tr> </table> 11357741388 12843 85637747 1.13 <div style="font-family: 'arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; padding: 0px; margin: 0px 0px 6pt 0px;">On December 1, 2023, the Fund began to compare its performance to the standard pricing time of the ICE BofA 3-Month U.S. Treasury Bill Index (the “Index”). Index data prior to March 1, 2021 is for the Index’s standard pricing time of 3pm. Index data from March 1, 2021 through November 30, 2023 is for a custom 4pm pricing variant of the Index. Index returns beginning on December 1, 2023 reflect the Index’s new standard pricing time of 4pm. The change of the Index’s standard pricing time from 3pm to 4pm resulted in the discontinuation of the custom 4pm pricing variant used from March 1, 2021 through November 30, 2023.</div> Past performance is not an indication of future results. Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. Visit <span style="color: rgb(0, 0, 0); font-weight: bold; text-decoration-line: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify;">blackrock.com</span> for more recent performance information. <div style="font-family: 'arial'; font-kerning: none; font-weight: bold; font-size: 10pt; color: rgb(0, 0, 0); margin: 0px 0px -0.18pt 0px;">What did the Fund invest in?</div> <div style="font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-family: 'arial'; text-align: justify; font-size: 9pt; line-height: 11.4pt; margin: 0px;">(as of April 30, 2026)</div> <table style="page-break-inside: avoid; break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; background-color: rgb(255, 206, 0); border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td colspan="7" style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); white-space: nowrap; vertical-align: bottom; width: auto; font-weight: normal; font-style: normal; font-size: 10pt; line-height: normal; text-align: left; text-indent: 0; letter-spacing: normal; text-transform: none; font-kerning: none; margin-top: 0; margin-bottom: 0; padding: 2pt 0 1.5pt 0;"><strong>Geographic allocation</strong></td> </tr> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-size: 8pt; white-space: nowrap; font-weight: normal; text-align: left; vertical-align: bottom; text-indent: -6pt; width: auto; padding: 1.6pt 0 0 6pt;"></td> <td colspan="6" style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;">Percent of Total<br/>Investments<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></td> </tr> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-size: 8pt; white-space: nowrap; font-weight: normal; text-align: left; vertical-align: bottom; text-indent: -6pt; width: auto; padding: 1.6pt 0 0 6pt;">Country/Geographic Region</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;">Long</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; text-align: left; width: auto; font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;"></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;">Short</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; text-align: left; width: auto; font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;"></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;">Total</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; text-align: left; width: auto; font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">United States</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">19.9</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 6pt 0 0;"><span>%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">18.5</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 6pt 0 0;"><span>%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">38.4</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Japan</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">10.2</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 6pt 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">10.1</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 6pt 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">20.3</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Canada</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.6</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 6pt 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.5</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 6pt 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">7.1</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">United Kingdom</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.6</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 6pt 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.4</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 6pt 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">5.0</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Germany</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.1</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 6pt 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.8</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 6pt 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.9</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Australia</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.9</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 6pt 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.0</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 6pt 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.9</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">France</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.7</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 6pt 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.1</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 6pt 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.8</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Switzerland</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.1</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 6pt 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.2</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 6pt 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.3</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Sweden</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.0</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 6pt 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.3</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 6pt 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.3</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Netherlands</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">0.9</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 6pt 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.1</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 6pt 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.0</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;"><span style="white-space: nowrap;">Other<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">#</sup></span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">5.6</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 6pt 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">5.4</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 6pt 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">11.0</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;"></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; border-top-color: rgb(0, 0, 0); border-top-style: solid; border-top-width: 0.5pt; padding: 2pt 0 0 0;">50.6</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; border-top-color: rgb(0, 0, 0); border-top-style: solid; border-top-width: 0.5pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; border-top-color: rgb(0, 0, 0); border-top-style: solid; border-top-width: 0.5pt; padding: 2pt 0 0 0;">49.4</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; border-top-color: rgb(0, 0, 0); border-top-style: solid; border-top-width: 0.5pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; border-top-color: rgb(0, 0, 0); border-top-style: solid; border-top-width: 0.5pt; padding: 2pt 0 0 0;">100.0</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; border-top-color: rgb(0, 0, 0); border-top-style: solid; border-top-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> </tr> </table> <table style="width: 100%; border-collapse: collapse; break-inside: avoid-page; page-break-inside: avoid; margin-top: 0px;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; width: initial; text-indent: 0; padding: 1.6pt 6pt 0 0;"> <div style="font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; padding: 0px; margin: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></div> </td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; text-indent: 0; width: 100%; padding: 1.6pt 0 0 0;"> <div style="font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; padding: 0px; margin: 0px;">Include the gross market values of long and short securities of the underlying derivative contracts and excludes short-term securities and options, if any.</div> </td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; width: initial; vertical-align: top; text-indent: 0; padding: 0 6pt 0 0;"> <div style="font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; padding: 0px; margin: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">#</sup></div> </td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; width: 100%; padding: 0;"> <div style="font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; padding: 0px; margin: 0px;">Ten largest countries/geographic regions are presented. Additional countries/geographic regions are found in Other.</div> </td> </tr> </table> 0.199 0.185 0.384 0.102 0.101 0.203 0.036 0.035 0.071 0.026 0.024 0.050 0.021 0.018 0.039 0.019 0.020 0.039 0.017 0.021 0.038 0.011 0.012 0.023 0.010 0.013 0.023 0.009 0.011 0.020 0.056 0.054 0.110 0.506 0.494 1.000 BlackRock Global Equity Market Neutral Fund Class K Shares BGCKX This annual shareholder report contains important information about BlackRock Global Equity Market Neutral Fund (the “Fund”) for the period of May 1, 2025 to April 30, 2026. annual shareholder report You can find additional information about the Fund at <span style="color: rgb(0, 0, 0); font-weight: bold; text-decoration-line: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify;">blackrock.com/fundreports</span>. You can also request this information by contacting us at (800) 441‑7762. blackrock.com/fundreports (800) 441‑7762 <div style="font-family: 'arial'; font-kerning: none; font-weight: bold; font-size: 10pt; color: rgb(0, 0, 0); margin: 0px 0px -0.18pt 0px;"><b>What were the </b> <b>Fund</b> <b> costs for the </b> <b>last year</b> <b>?</b></div> <div style="font-family: 'arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; margin: 0px;">(based on a hypothetical $10,000 investment)</div> <table style="margin-top: 2pt; break-inside: avoid-page; page-break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; font-weight: bold; line-height: 11pt; background-color: rgb(255, 206, 0); vertical-align: bottom; text-align: left; padding: 2pt 0 2pt 0;">Class name</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; font-weight: bold; line-height: 11pt; background-color: rgb(255, 206, 0); text-align: center; vertical-align: bottom; padding: 2pt 0 2pt 0;">Costs of a $10,000<br/>investment</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; font-weight: bold; line-height: 11pt; background-color: rgb(255, 206, 0); text-align: center; vertical-align: bottom; padding: 2pt 0 2pt 0;">Costs paid as a percentage of a<br/>$10,000 investment</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; vertical-align: bottom; font-size: 8pt; line-height: 10pt; text-align: left; padding: 4pt 0 2pt 0;">Class K Shares</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: center; font-size: 8pt; line-height: 10pt; padding: 4pt 0 2pt 0;"><span style="float: none;">$</span>136</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: center; font-size: 8pt; line-height: 10pt; white-space: nowrap; padding: 4pt 0 2pt 0;">1.24<span>%</span></td> </tr> </table> 136 0.0124 <div style="font-family: 'arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); margin-bottom: 0px;"> <div style="font-family: 'arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); break-inside: avoid-page; page-break-inside: avoid; margin-bottom: 3.5pt;"> <div style="font-family: 'arial'; font-kerning: none; font-weight: bold; font-size: 10pt; color: rgb(0, 0, 0); margin: 0px 0px -0.18pt 0px;"><b>How did the </b> <b>Fund</b> <b> perform </b> <b>last year</b> <b>?</b></div> </div> <ul style="counter-reset: numberedlisting 0 letteringlisting 0 letteredhead 0 lcrmnhead 0 ucletteredhead 0 ucrmnhead 0; break-inside: avoid-page; page-break-inside: avoid; padding: 0; margin: 3.5pt 0 3.5pt 0;"> <li style="font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding-left: 4pt; list-style-type: disc; font-size: 8pt; line-height: 12.32pt; text-align: justify; margin-left: 34px;"> <div style="font-family: 'arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-size: inherit; margin: 0px;">For the reporting period ended April 30, 2026, the Fund’s Class K Shares returned 18.84%.</div> </li> <li style="font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding-left: 4pt; list-style-type: disc; font-size: 8pt; line-height: 12.32pt; text-align: justify; margin-left: 34px;"> <div style="font-family: 'arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-size: inherit; margin: 0px;">For the same period, the Fund’s benchmark, the MSCI World Index (Net) returned 29.16% and the ICE BofA 3-Month U.S. Treasury Bill Index returned 3.95%</div> </li> </ul> <div style="font-family: 'arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); break-inside: avoid-page; page-break-inside: avoid; margin-bottom: 3.5pt;"> <div style="font-family: 'arial'; font-kerning: none; font-size: 10pt; font-weight: normal; letter-spacing: normal; text-transform: none; color: rgb(0, 0, 0); margin: 0px 0px 5pt 0px;">What contributed to performance?</div> <div style="font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; margin: 0px 0px 3.5pt 0px;">Sentiment insights were the strongest contributors to absolute performance. The measures successfully adapted to multiple market trends, including artificial intelligence, fiscal stimulus, inflation, and geopolitical developments, particularly the Iran conflict toward the end of the period. Linkage-based measures (i.e., comparisons of similar companies) and trend-following insights were particularly effective in identifying changing market leadership. Long positions, together with stock selection in Europe, made the largest contribution in this segment of the Fund. Macro thematic insights also contributed positively, especially through positioning in energy, infrastructure, and trade-related themes. Positioning in the financials and energy sectors added to returns through selective longs in banks and industrial-related companies against shorts in insurance, diversified financial, and trade-sensitive businesses.</div> </div> <div style="font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; margin: 0px 0px 3.5pt 0px;">The Fund used derivatives to implement its stock selection strategy more efficiently. The use of derivatives did not have a material impact on results. The Fund's cash position had no material impact on performance.</div> <div style="font-family: 'arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); break-inside: avoid-page; page-break-inside: avoid; margin-bottom: 3.5pt;"> <div style="font-family: 'arial'; font-kerning: none; font-size: 10pt; font-weight: normal; letter-spacing: normal; text-transform: none; color: rgb(0, 0, 0); margin: 0px 0px 5pt 0px;">What detracted from performance?</div> <div style="font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; margin: 0px 0px 3.5pt 0px;">Fundamental insights detracted early in the reporting period as speculative market leadership and momentum-driven rallies acted as a headwind for more defensive positioning. The weakness was most notable in traditional valuation and quality measures, as investors aggressively rotated toward perceived artificial intelligence winners and higher-beta growth stocks. Measures tied to profitability, earnings expectations, and company management sentiment also struggled amid rapidly changing investor preferences. However, fundamental insights rebounded late in the period as rising geopolitical tensions associated with the Iran conflict led investors to refocus on earnings resilience, valuations, and defensive characteristics.</div> </div> <div style="font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; margin: 0px 0px 3.5pt 0px;"><i>The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.</i></div> </div> <div style="font-family: 'arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); break-inside: avoid;"> <div style="font-family: 'arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); margin-bottom: 5pt;"> <div style="font-family: 'arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); break-inside: avoid-page; page-break-inside: avoid;"> <div style="font-family: 'arial'; font-kerning: none; font-weight: bold; font-size: 10pt; color: rgb(0, 0, 0); margin: 0px 0px -0.18pt 0px;">Fund performance</div> <div style="font-family: 'arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; margin: 0px;">Cumulative performance: May 1, 2016 through April 30, 2026</div> </div> <div style="font-family: 'arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; margin: 0px;">Initial investment of $10,000</div> </div> <div style="font-family: 'arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); margin-top: 5pt; margin-bottom: 5pt; text-align: center;"> <img alt="Fund Performance - Growth of 10K" src="g130909chartimages_6828829.jpg" style="width: 525pt;"/> </div> <div style="font-family: 'arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); padding-left: 10pt; margin-bottom: 7.2pt;"> <div style="font-family: 'arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; text-indent: -10pt; padding: 0px; margin: 0px;"> See “Average annual total returns” for additional information on fund performance.</div> </div> </div> <table style="break-inside: avoid-page; page-break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; background-color: rgb(255, 206, 0); border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); vertical-align: bottom; width: auto; font-weight: bold; font-style: normal; font-size: 10pt; text-align: left; text-indent: 0; letter-spacing: normal; text-transform: none; font-kerning: none; margin-top: 0; margin-bottom: 0; padding: 2pt 0 1.5pt 0;">Average annual total returns</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; text-align: left; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; width: auto; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">1 Year</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; text-align: left; width: auto; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; width: auto; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">5 Years</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; text-align: left; width: auto; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; width: auto; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">10 Years</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; text-align: left; width: auto; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; text-align: left; overflow-x: hidden; font-weight: normal; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 6pt;">Class K Shares</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">18.84</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"><span>%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">12.15</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"><span>%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">7.76</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; text-align: left; overflow-x: hidden; font-weight: normal; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 6pt;">MSCI World Index (Net)</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">29.16</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">11.29</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">12.65</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; text-align: left; overflow-x: hidden; font-weight: normal; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 6pt;">ICE BofA 3-Month U.S. Treasury Bill Index</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">3.95</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 1.6pt 0;"></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">3.40</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 1.6pt 0;"></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">2.29</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 1.6pt 0;"></td> </tr> </table> Class K Shares 0.1884 0.1215 0.0776 MSCI World Index (Net) 0.2916 0.1129 0.1265 ICE BofA 3-Month U.S. Treasury Bill Index 0.0395 0.0340 0.0229 <table style="break-inside: avoid-page; page-break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; background-color: rgb(255, 206, 0); border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); vertical-align: bottom; width: auto; font-weight: bold; font-size: 10pt; line-height: normal; text-align: left; text-indent: 0; letter-spacing: normal; text-transform: none; font-kerning: none; margin-top: 0; margin-bottom: 0; padding: 2pt 0 1.5pt 0;">Key Fund statistics</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Net Assets</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; white-space: nowrap; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;"><span style="float: none;">$</span>11,357,741,388</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Number of Portfolio Holdings</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; white-space: nowrap; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;">12,843</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Net Investment Advisory Fees</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; white-space: nowrap; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;"><span style="float: none;">$</span>85,637,747</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 1.6pt 6pt;">Portfolio Turnover Rate</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; white-space: nowrap; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 1.6pt 6pt;">113<span>%</span></td> </tr> </table> 11357741388 12843 85637747 1.13 2016-03-28 <div style="font-family: 'arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; padding: 0px; margin: 0px 0px 6pt 0px;">On December 1, 2023, the Fund began to compare its performance to the standard pricing time of the ICE BofA 3-Month U.S. Treasury Bill Index (the “Index”). Index data prior to March 1, 2021 is for the Index’s standard pricing time of 3pm. Index data from March 1, 2021 through November 30, 2023 is for a custom 4pm pricing variant of the Index. Index returns beginning on December 1, 2023 reflect the Index’s new standard pricing time of 4pm. The change of the Index’s standard pricing time from 3pm to 4pm resulted in the discontinuation of the custom 4pm pricing variant used from March 1, 2021 through November 30, 2023.</div> Past performance is not an indication of future results. Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. Visit <span style="color: rgb(0, 0, 0); font-weight: bold; text-decoration-line: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify;">blackrock.com</span> for more recent performance information. <div style="font-family: 'arial'; font-kerning: none; font-weight: bold; font-size: 10pt; color: rgb(0, 0, 0); margin: 0px 0px -0.18pt 0px;">What did the Fund invest in?</div> <div style="font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-family: 'arial'; text-align: justify; font-size: 9pt; line-height: 11.4pt; margin: 0px;">(as of April 30, 2026)</div> <table style="page-break-inside: avoid; break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; background-color: rgb(255, 206, 0); border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td colspan="7" style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); white-space: nowrap; vertical-align: bottom; width: auto; font-weight: normal; font-style: normal; font-size: 10pt; line-height: normal; text-align: left; text-indent: 0; letter-spacing: normal; text-transform: none; font-kerning: none; margin-top: 0; margin-bottom: 0; padding: 2pt 0 1.5pt 0;"><strong>Geographic allocation</strong></td> </tr> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-size: 8pt; white-space: nowrap; font-weight: normal; text-align: left; vertical-align: bottom; text-indent: -6pt; width: auto; padding: 1.6pt 0 0 6pt;"></td> <td colspan="6" style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;">Percent of Total<br/>Investments<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></td> </tr> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-size: 8pt; white-space: nowrap; font-weight: normal; text-align: left; vertical-align: bottom; text-indent: -6pt; width: auto; padding: 1.6pt 0 0 6pt;">Country/Geographic Region</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;">Long</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; text-align: left; width: auto; font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;"></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;">Short</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; text-align: left; width: auto; font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;"></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;">Total</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; text-align: left; width: auto; font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">United States</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">19.9</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 6pt 0 0;"><span>%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">18.5</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 6pt 0 0;"><span>%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">38.4</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Japan</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">10.2</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 6pt 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">10.1</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 6pt 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">20.3</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Canada</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.6</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 6pt 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.5</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 6pt 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">7.1</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">United Kingdom</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.6</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 6pt 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.4</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 6pt 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">5.0</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Germany</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.1</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 6pt 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.8</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 6pt 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.9</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Australia</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.9</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 6pt 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.0</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 6pt 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.9</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">France</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.7</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 6pt 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.1</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 6pt 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.8</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Switzerland</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.1</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 6pt 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.2</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 6pt 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.3</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Sweden</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.0</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 6pt 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.3</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 6pt 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.3</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Netherlands</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">0.9</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 6pt 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.1</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 6pt 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.0</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;"><span style="white-space: nowrap;">Other<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">#</sup></span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">5.6</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 6pt 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">5.4</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 6pt 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">11.0</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; line-height: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;"></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; border-top-color: rgb(0, 0, 0); border-top-style: solid; border-top-width: 0.5pt; padding: 2pt 0 0 0;">50.6</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; border-top-color: rgb(0, 0, 0); border-top-style: solid; border-top-width: 0.5pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; border-top-color: rgb(0, 0, 0); border-top-style: solid; border-top-width: 0.5pt; padding: 2pt 0 0 0;">49.4</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; border-top-color: rgb(0, 0, 0); border-top-style: solid; border-top-width: 0.5pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; border-top-color: rgb(0, 0, 0); border-top-style: solid; border-top-width: 0.5pt; padding: 2pt 0 0 0;">100.0</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); vertical-align: bottom; font-kerning: none; text-align: left; width: auto; white-space: nowrap; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; border-top-color: rgb(0, 0, 0); border-top-style: solid; border-top-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> </tr> </table> <table style="width: 100%; border-collapse: collapse; break-inside: avoid-page; page-break-inside: avoid; margin-top: 0px;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; width: initial; text-indent: 0; padding: 1.6pt 6pt 0 0;"> <div style="font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; padding: 0px; margin: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></div> </td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; text-indent: 0; width: 100%; padding: 1.6pt 0 0 0;"> <div style="font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; padding: 0px; margin: 0px;">Include the gross market values of long and short securities of the underlying derivative contracts and excludes short-term securities and options, if any.</div> </td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; overflow-x: hidden; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; width: initial; vertical-align: top; text-indent: 0; padding: 0 6pt 0 0;"> <div style="font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; padding: 0px; margin: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">#</sup></div> </td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; width: 100%; padding: 0;"> <div style="font-weight: normal; color: rgb(0, 0, 0); font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; padding: 0px; margin: 0px;">Ten largest countries/geographic regions are presented. Additional countries/geographic regions are found in Other.</div> </td> </tr> </table> 0.199 0.185 0.384 0.102 0.101 0.203 0.036 0.035 0.071 0.026 0.024 0.050 0.021 0.018 0.039 0.019 0.020 0.039 0.017 0.021 0.038 0.011 0.012 0.023 0.010 0.013 0.023 0.009 0.011 0.020 0.056 0.054 0.110 0.506 0.494 1.000 Ten largest countries/geographic regions are presented. Additional countries/geographic regions are found in Other. Ten largest countries/geographic regions are presented. Additional countries/geographic regions are found in Other. Excludes short-term securities. Ten largest countries/geographic regions are presented. Additional countries/geographic regions are found in Other. Excludes short-term securities. Ten largest countries/geographic regions are presented. Additional countries/geographic regions are found in Other. Excludes short-term securities. Ten largest countries/geographic regions are presented. Additional countries/geographic regions are found in Other. Include the gross market values of long and short securities of the underlying derivative contracts and excludes short-term securities and options, if any. Ten largest countries/geographic regions are presented. Additional countries/geographic regions are found in Other. Include the gross market values of long and short securities of the underlying derivative contracts and excludes short-term securities and options, if any. Ten largest countries/geographic regions are presented. Additional countries/geographic regions are found in Other. Include the gross market values of long and short securities of the underlying derivative contracts and excludes short-term securities and options, if any. Ten largest countries/geographic regions are presented. Additional countries/geographic regions are found in Other. Include the gross market values of long and short securities of the underlying derivative contracts and excludes short-term securities and options, if any. Ten largest countries/geographic regions are presented. Additional countries/geographic regions are found in Other. Ten largest countries/geographic regions are presented. Additional countries/geographic regions are found in Other. Ten largest countries/geographic regions are presented. Additional countries/geographic regions are found in Other.