BlackRock Plans to Convert Large Cap Growth Mutual Fund Into Active ETF

BlackRock is seeking shareholder approval to reorganize its Advantage Large Cap Growth Fund into the newly created iShares Enhanced Large Cap Growth Active ETF. Shareholders will vote on December 18, 2026, with the conversion expected in Q2 2027 if approved. The new ETF will seek to outperform the Russell 1000 Growth Index while maintaining low tracking error, compared with the mutual fund’s broader capital appreciation objective. BlackRock expects lower gross and net operating expenses, intraday trading flexibility, and daily holdings transparency. Unlike its diversified predecessor, the ETF will be non-diversified, potentially increasing concentration risk. Eligible shareholders will receive ETF shares of equivalent value, with the reorganization expected to be largely tax-free. Investors unable to hold ETF shares may instead receive cash or alternative fund holdings