The PowerShares KBW High Dividend Yield Financial Portfolio (Fund) is based on the KBW Financial Sector Dividend Yield Index (Index). The Fund will normally invest at least 90% of its total assets in securities that comprise the Index. The Index is calculated using a dividend yield weighted methodology that seeks to reflect the performance of approximately 24 to 40 publicly listed financial companies that are principally engaged in the business of providing financial services and products, including banking, insurance and diversified financial services, in the United States. The Index may also include securities of BDCs and equity and mortgage REITs. The Fund and the Index are rebalanced and reconstituted quarterly. |
 |
Date |
|
5/17/2013 |
|
|
Price |
|
26.55 |
|
|
Bid/Ask Midpoint  |
|
26.54 |
|
| |
|
NAV |
|
26.52 |
|
|
Bid/Ask Prem/Disc |
|
0.02 |
|
|
Bid/Ask Prem/Disc |
|
0.08% |
|
|
|
|
|
|
| Index History (%) | YTD | 1 Year | 3 Year | 5 Year | 10 Year | Fund Inception |
| KBW Financial Sector Dividend Yield Index | 14.41 | 18.82 | 16.90 | | | 14.98 |
| S&P 500 Financials Sector Index | 11.42 | 17.60 | 6.29 | -4.07 | 1.00 | 10.37 |
| S&P 500 Index | 10.61 | 13.96 | 12.67 | 5.81 | 8.53 | 13.78 |
| Fund History (%) | YTD | 1 Year | 3 Year | 5 Year | 10 Year | Fund Inception |
| NAV | 14.27 | 18.33 | | | | 14.48 |
| After Tax Held | 13.28 | 15.79 | | | | 11.87 |
| After Tax Sold | 8.05 | 11.75 | | | | 10.86 |
| Market Price | 14.40 | 18.35 | | | | 14.60 |
Market returns are based on the midpoint of the bid/ask spread at 4 p.m. ET and do not represent the returns an investor would receive if shares were traded at other times. Performance data quoted represents past performance, which is not a guarantee of future results. Investment returns and principal value will fluctuate, and shares, when redeemed, may be worth more or less than their original cost. Current performance may be higher or lower than performance data quoted. After-tax returns reflect the highest federal income tax rate but exclude state and local taxes. Fund performance reflects fee waivers, absent which, performance data quoted would have been lower. After Tax Held and After Tax Sold are based on NAV.
|
 |
| As of 3/31/2013 |
 |
| Data beginning 12/31/2010, the month end following Fund inception. |
| An investor cannot invest directly in an index. The results assume that no cash was added to or assets withdrawn from the Index. Index returns do not represent Fund returns. The Index does not charge management fees or brokerage expenses, nor does the Index lend securities, and no revenues from securities lending were added to the performance shown. |
 |
| |
Bid/Ask MidPoint Above NAV |
Bid/Ask Midpoint Below NAV |
Quarter
Ending |
Days |
50-99
Basis Points |
100-199
Basis Points |
H200
Basis Points |
50-99
Basis Points |
100-199
Basis Points |
H200
Basis Points |
| 3/31/2013 |
60 |
0 |
0 |
0 |
0 |
0 |
0 |
| 12/31/2012 |
62 |
0 |
0 |
0 |
0 |
0 |
0 |
| 9/30/2012 |
63 |
0 |
0 |
0 |
0 |
0 |
0 |
| 6/30/2012 |
63 |
0 |
0 |
0 |
0 |
0 |
0 |
| Year Ended 2012 |
250 |
0 |
0 |
0 |
0 |
0 |
0 |
| Fund Inception: 12/2/2010 |
Shareholders may pay more than net asset value when they buy Fund shares and receive less than net asset value when they sell those shares, because shares are bought and sold at current market prices. Performance data quoted represents past performance, which is not a guarantee of future results. |
 | |
Large-Cap Value |
4.43% |
|
|
Mid-Cap Growth |
4.33% |
|
|
Mid-Cap Value |
26.06% |
|
|
Small-Cap Growth |
4.50% |
|
|
Small-Cap Value |
60.69% |
|
| As of 5/17/2013 |
|
Fund Holdings subject to change |
|
|
BGC PARTNERS INC-CL A |
|
5.95% |
|
|
AMERICAN CAPITAL AGENCY CORP |
|
5.55% |
|
|
CHIMERA INVESTMENT CORP |
|
4.75% |
|
|
INVESCO MORTGAGE CAPITAL INC |
|
4.74% |
|
|
ANNALY CAPITAL MANAGEMENT INC |
|
4.43% |
|
|
As of 5/17/2013 |
|
|
|
|
|
| |
|
HATTERAS FINANCIAL CORP |
|
4.03% |
|
|
CAPSTEAD MTG CORP |
|
3.85% |
|
|
ANWORTH MORTGAGE ASSET CORP |
|
3.85% |
|
|
APOLLO INVESTMENT CORP CF |
|
3.52% |
|
|
MFA FINANCIAL INC |
|
3.51% |
|
|
|
| | |
As of 5/17/2013
Typically, security classifications used in calculating allocation tables are as of the last trading day of the previous month.
There are risks involved with investing in ETFs, including possible loss of money. Shares are not actively managed and are subject to risks similar to those of stocks, including those regarding short selling and margin maintenance requirements. Ordinary brokerage commissions apply. The Fund’s return may not match the return of the Underlying Index.
The Fund is considered non-diversified and may be subject to greater risks than a diversified fund.
Although the Fund will not invest in real estate directly, the REITs in which the Fund will invest will be subject to risks inherent in the direct ownership of real estate.
The Fund contains securities in the financial sector. Companies engaged in this sector are subject to greater risks, and are more greatly impacted by market volatility, than more diversified investments.
Investing in securities of small and medium-sized companies may involve greater risk than is customarily associated with investing in large companies.
Securities that pay high dividends as a group can fall out of favor with the market, causing such companies to underperform companies that do not pay high dividends.
There are certain risks inherent in investing in Business Development Corporations ("BDCs"). The Investment Company Act of 1940, as amended (the "1940 Act"), imposes certain restraints upon the operations of a BDC. For example, BDCs are required to invest at least 70% of their total assets primarily in securities of private companies or thinly traded U.S. public companies, cash, cash equivalents, U.S. government securities and high quality debt investments that mature in one year or less. Generally, little public information exists for private and thinly traded companies and there is a risk that investors may not be able to make a fully informed investment decision. With investments in debt instruments, there is a risk that the issuer may default on its payments or declare bankruptcy. Additionally, a BDC may only incur indebtedness in amounts such that the BDC’s asset coverage equals at least 200% after such incurrence. These limitations on asset mix and leverage may prohibit the way that the BDC raises capital. BDCs generally invest in less mature private companies which involve greater risk than well-established publicly-traded companies. To the extent that the Fund invests a portion of its assets in BDCs, a shareholder in the Fund will bear not only his or her proportionate share of the expenses of the Fund, but also, indirectly the expenses of the BDCs.
Investments focused in a particular industry are subject to greater risk, and are more greatly impacted by market volatility, than more diversified investments.
The S&P 500® Financials Sector Index seeks to provide an effective representation of the financial sector of the S&P 500® Index. The S&P 500 Index is an unmanaged index considered representative of the U.S. stock market.
The Global Industry Classification Standard was developed by and is the exclusive property and a service mark of MSCI, Inc. and Standard & Poor's.
"Keefe, Bruyette & Woods, Inc.", "KBW Financial Sector Dividend Yield Index" and "KBW" are trademarks of KBW and have been licensed for use by Invesco PowerShares Capital Management LLC. The PowerShares KBW High Dividend Yield Financial Portfolio is not sponsored, endorsed, sold or promoted by KBW and KBW makes no representation regarding the advisability of investing in The PowerShares KBW High Dividend Yield Financial Portfolio. Invesco PowerShares Capital Management LLC is not affiliated with KBW.
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