iShares has more than 70 international and global exchange traded funds (ETFs) that are cost efficient, liquid and capture a broad selection of the international investing universe. As well as the universe of international and global funds trading in the U.S.

International iShares ETFs typically have lower expense ratios than actively managed mutual funds*. Since iShares ETFs seek to closely track a benchmark index, they typically buy and sell securities less often than actively managed mutual funds, thereby decreasing the likelihood of capital gains distributions. Of course, as with any investment, if you sell an iShares Fund at a gain, the normal tax laws still apply.

Because iShares ETFs trade throughout the day on an exchange, they are inherently more liquid. They offer two levels of liquidity: liquidity based on average daily volume and liquidity of the stocks in iShares ETFs. Their price fluctuations reflect market developments occurring during the trading day, even when the underlying foreign market they track may be closed.

* The average expense ratio of an international iShares ETF is 0.54%, versus the average international active open-end mutual fund expense ratio of 1.32%, Morningstar,12/31/09.