ion value="2006/09/30" > 30-Sep-2006

	YTD	1m	3m	6m	1y	3y	5y	10y	Incept.
Total Return (%) Total return represents changes to the NAV and accounts for distributions from the fund.	32.50	14.28	19.19	32.50	16.33	-4.12	-48.89	63.23	43.21
Market Price (%) Market price return represents changes to the midpoint price and accounts for distributions from the fund. The midpoint is the average of the bid-ask prices at 4:00 PM ET (when NAV is normally determined for most funds).	35.48	17.57	21.73	35.48	18.82	-5.80	-47.19	60.56	46.60
Reference Benchmark On August 15, 2014, the iShares Silver Trust began referencing a new performance benchmark, the LBMA Silver Price. Benchmark performance prior to this date reflects the London Silver Fix benchmark.	32.85	14.32	19.38	32.85	16.94	-2.65	-47.57	71.59	50.68

Missing cumulative returns data

	2011	2012	2013	2014	2015
Total Return (%) Total return represents changes to the NAV and accounts for distributions from the fund.	-8.45	5.77	-35.23	-18.54	-13.87
Market Price (%) Market price return represents changes to the midpoint price and accounts for distributions from the fund. The midpoint is the average of the bid-ask prices at 4:00 PM ET (when NAV is normally determined for most funds).	-10.83	9.14	-36.26	-19.60	-12.36
Reference Benchmark On August 15, 2014, the iShares Silver Trust began referencing a new performance benchmark, the LBMA Silver Price. Benchmark performance prior to this date reflects the London Silver Fix benchmark.	-8.00	6.28	-34.89	-18.10	-13.46

Missing calendar year returns data

The performance quoted represents past performance and does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than the original cost. Current performance may be lower or higher than the performance quoted.

Growth of Hypothetical $10,000 The growth of hypothetical $10,000 chart reflects a hypothetical $10,000 investment and assumes reinvestment of dividends and capital gains. Fund expenses, including management fees and other expenses were deducted.

Performance chart data not available for display.

Premium/Discount

Key Facts

Net Assets as of 01-Sep-2016 $6,706,186,030

Ounces in Trust as of 01-Sep-2016 359,743,532.60

Inception Date 21-Apr-2006

Exchange NYSE Arca

Asset Class Commodities

Index Ticker SLVRLN

Tonnes in Trust One metric tonne is equivalent to 1,000 kilograms or 32,150.7465 troy ounces. as of 01-Sep-2016 11,189.28

Indicative Basket Amount as of 01-Sep-2016 47,481.30

Basket Amount as of 01-Sep-2016 47,482.00

Shares Outstanding as of 01-Sep-2016 378,650,000

Premium/Discount The amount the Fund is trading above or below the reported NAV expressed as a percentage of the NAV. When the fund's market price is greater than the fund’s NAV, it is said to be trading at a "Premium" and the percentage is expressed as a positive number. When the fund's market price is less than the fund’s NAV, it is said to be trading at a "Discount" and the percentage is expressed as a negative number. as of 01-Sep-2016 1.30%

CUSIP 46428Q109

Closing Price The Closing Price is the price of the last reported trade on the fund’s primary exchange (see “Exchange” above). as of 01-Sep-2016 17.94

Mid-Point Price The midpoint between the highest bid and the lowest offer on the listing exchange, as of the time that the Fund's NAV is calculated (usually 4:00 pm eastern time for most funds). as of 01-Sep-2016 17.94

Options Available Yes

20 Day Avg. Volume Average Daily Volume (ADV) on primary exchange (see “Exchange” above); may differ from ADV reported by other sources, which may publish an aggregated ADV from all exchanges on which the ETF trades. as of 01-Sep-2016 2,089,358

Daily Volume The number of shares or contracts traded in a security or an entire market during a given period of time. It is simply the amount of shares that trade hands from sellers to buyers as a measure of activity. If a buyer of a stock purchases 100 shares from a seller, then the volume for that period increases by 100 shares based on that transaction. Volume shown is the volume that traded on the primary exchange (see “Exchange” above) as of the date indicated. as of 01-Sep-2016 2,615,518

Silver Spot Price Source: TheBullionDesk.com<br /><br />Time stamp is GMT (Greenwich Mean Time). Silver Spot Prices provided by The Bullion Desk. No warranty is given for the accuracy of these prices and no liability is accepted for reliance thereon. Prices are provided on a reasonable efforts basis and delays may occur both because of the delay in third parties communicating the information to the site and because of delays inherent in posting information over the internet. Prices shown are indicative only and do not represent actionable quotations on prices of actual trades. silver

Portfolio Characteristics

Equity Beta Beta is a measure of the tendency of securities to move with the market as a whole. A beta of 1 indicates that the security's price will move with the market. A beta less than 1 indicates the security tends to be less volatile than the market, while a beta greater than 1 indicates the security is more volatile than the market.<br/><br/>Calculated vs. S&P 500 as of 29-Jul-2016 0.35

Standard Deviation (3y) Standard deviation measures how dispersed returns are around the average. A higher standard deviation indicates that returns are spread out over a larger range of values and thus, more volatile. as of 29-Jul-2016 27.05%

This information must be preceded or accompanied by a current prospectus. For standardized performance, please see the Performance section above.

Literature

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Carefully consider the Funds' investment objectives, risk factors, and charges and expenses before investing. This and other information can be found in the Funds' prospectuses or, if available, the summary prospectuses, which may be obtained by visiting the iShares ETF and BlackRock Fund prospectus pages. Read the prospectus carefully before investing. Investing involves risk, including possible loss of principal.

Before engaging Fidelity or any broker-dealer, you should evaluate the overall fees and charges of the firm as well as the services provided. Fidelity and BlackRock have entered into a long-term marketing program that compensates Fidelity to promote iShares ETFs; as part of this agreement, Fidelity offers 70 iShares ETFs commission-free online for qualified buyers and sellers. Additional information about this arrangement, including any compensation, is contained in the ETF’s registration statement. ETFs are subject to a short–term trading fee by Fidelity, if held less than 30 days. Other conditions and fees may apply. See Fidelity.com/commissions for details. BlackRock is not affiliated with Fidelity or any of their affiliates.

The Funds are distributed by BlackRock Investments, LLC (together with its affiliates, “BlackRock”).

©2016 BlackRock, Inc. All rights reserved. BLACKROCK, BLACKROCK SOLUTIONS, BUILD ON BLACKROCK, ALADDIN, iSHARES, iBONDS, iTHINKING, iSHARES CONNECT, FUND FRENZY, LIFEPATH, SO WHAT DO I DO WITH MY MONEY, INVESTING FOR A NEW WORLD, BUILT FOR THESE TIMES, the iShares Core Graphic, CoRI and the CoRI logo are registered and unregistered trademarks of BlackRock, Inc., or its subsidiaries in the United States and elsewhere. All other marks are the property of their respective owners.

USR-9694

Important Information

This information must be preceded or accompanied by a current prospectus. Investors should read it carefully before investing.

iShares Silver Trust (the “Silver Trust”) has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus and other documents the Silver Trust has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting www.iShares.com or EDGAR on the SEC website at www.sec.gov. Alternatively, the Silver Trust will arrange to send you the prospectus if you request it by calling toll-free 1-800-474-2737.

Investing involves risk, including possible loss of principal. Because shares of the Trust are intended to reflect the price of the silver held by the Trust, the market price of the shares is subject to fluctuations similar to those affecting silver prices. Additionally, shares of the Trust are bought and sold at market price, not at net asset value ("NAV"). Brokerage commissions will reduce returns.

Shares of the Trust are intended to reflect, at any given time, the market price of silver owned by the Trust at that time less the Trust's expenses and liabilities. The price received upon the sale of shares of the Trust, which trade at market price, may be more or less than the value of the silver represented by such shares. If an investor sells the shares at a time when no active market for them exists, such lack of an active market will most likely adversely affect the price received for the shares. For a more complete discussion of risk factors relative to the Trust, carefully read the prospectus.

Following an investment in the Trust, several factors may have the effect of causing a decline in the prices of silver and a corresponding decline in the price of the shares. Among them: (i) A change in economic conditions, such as a recession, can adversely affect the price of silver. Silver is used in a wide range of industrial applications, and an economic downturn could have a negative impact on its demand and, consequently, its price and the price of the shares. (ii) A significant change in the attitude of speculators and investors towards silver. Should the speculative community take a negative view towards silver, a decline i