IEDI is part of an iShares sector suite that redefines the US market into evolved sectors by using text analysis and data science to group similar firms. This forward-looking, proprietary classification system based on public filings, allows a company to be classified into multiple sectors rather than being solely assigned to a single sector. The fund provides exposure to the discretionary spending evolved sector, which includes firms of all sizes. Though these companies have economic characteristics correlated to the traditional consumer discretionary/cyclicals sector, the fund may not provide the same investment returns. Holdings are weighted by market cap, targeting an increased exposure to companies with high US Consumer Scores, calculated based on consumer spending revenues, and consumer goods and service production in the US. Sectors are reviewed quarterly and may change over time. Prior to December 1, 2022, the fund name was iShares Evolved US Discretionary Spending ETF.