The fund aims to increase exposure to emerging market companies with strong ESG traits, while maintaining a market-like risk portfolio. Companies in the broad MSCI Emerging Markets Index are rated on risk factors related to environmental, social, and governance issues. Portfolio optimization software is used to maximize the fund's stake in highly-rated companies while staying close to market-like exposure, performance, and risk. Notably, the fund completely rejects companies based on values (controversial weapons, tobacco and civilian firearms) and climate change (thermal coal and oil sands climate). Companies involved in severe business controversies as determined by the index provider, are also excluded. The index is rebalanced quarterly. Prior to April 21, 2020, the fund name was iShares ESG MSCI Emerging Markets Index ETF.