Invesco PowerShares
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The PowerShares CEF Income Composite Portfolio (Fund) is based on the S-Network Composite Closed-End Fund IndexSM (Index). The Fund will normally invest at least 90% of its total assets in securities of funds included in the Index. The Fund is a "fund of funds," as it invests its assets in the common shares of funds included in the Index rather than in individual securities. The Index currently includes closed-end funds that invest in taxable investment grade fixed-income securities, taxable high yield fixed-income securities and others utilize an equity option writing (selling) strategy. The Fund is rebalanced and reconstituted quarterly.


Date   5/15/2012  
Price   24.27  
Bid/Ask Midpoint   25.36  
 
NAV   24.26  
Bid/Ask Prem/Disc   1.10  
Bid/Ask Prem/Disc   4.53%  

 As of 3/31/2012
Index History (%)YTD1 Year3 Year5 Year10 YearFund Inception
S-Network Composite Closed-End Fund Index8.606.35   8.82
S&P 500 Index12.588.5123.402.014.1214.29
Fund History (%)YTD1 Year3 Year5 Year10 YearFund Inception
NAV8.425.59   8.30
After Tax Held7.662.53   5.13
After Tax Sold5.463.53   5.20
Market Price8.505.71   8.29

Monthly Standardized Report


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 03/31/2012
Data beginning 2/28/2010, 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 The results assume that no cash was added to or assets withdrawn from the Index.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
3/31/2012 62 0 0 0 0 0 0
12/31/2011 63 0 0 0 0 0 1
9/30/2011 64 0 0 0 0 0 0
6/30/2011 63 0 0 0 1 0 0
Fund Inception: 2/19/2010

Ex-DateRecord DatePay Date$ / ShareOrdinary IncomeShort Term GainsLong Term GainsReturn of Capital
5/15/20125/17/20125/31/20120.134440.13444N.A.N.A.N.A.
4/13/20124/17/20124/30/20120.160080.16008N.A.N.A.N.A.
3/15/20123/19/20123/30/20120.165380.16538N.A.N.A.N.A.
2/15/20122/17/20122/29/20120.165520.16552N.A.N.A.N.A.
1/13/20121/18/20121/31/20120.163260.16326N.A.N.A.N.A.
12/27/201112/29/201112/30/20110.079960.06576N.A.0.01420N.A.
12/15/201112/19/201112/30/20110.302490.30249N.A.N.A.N.A.
11/15/201111/17/201111/30/20110.141000.14100N.A.N.A.N.A.
10/14/201110/18/201110/31/20110.144880.14488N.A.N.A.N.A.
9/15/20119/19/20119/30/20110.144190.14419N.A.N.A.N.A.
 
Distribution Information



Fund Holdings subject to change  
EATON VANCE TAX-MANAGED GLOB CEF   5.48%  
ALLIANCEBERNSTEIN INC FUND CEF   3.94%  
EATON VANCE LTD DURATION FND CF   3.01%  
EATON VANCE TAX-MANAGED DIVE CEF   2.94%  
NFJ DVD INTEREST & PR STRAT CEF   2.47%  
As of 5/15/2012    
 
 
NUVEEN CREDIT STRATEGIES INC   2.44%  
ABERDEEN ASIA-PAC INCOME FD CEF   2.40%  
EATON VANCE TAX MAN GLBL BR CEF   2.33%  
BLACKROCK BUILD AMERICA BOND CEF   2.09%  
BLACKROCK GLOBAL OPP EQTY TR   1.61%  

View All Fund Holdings




As of 5/15/2012



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 pursues its investment objective by investing its assets in the Underlying Funds.

The Fund’s investment performance, because it is a fund of funds, depends on the investment performance of the Underlying Funds in which it invests. An investment in the Fund is subject to the risks associated with the Underlying Funds that comprise the Underlying Index. The Fund will indirectly pay a proportional share of the fees of the Underlying Funds in which it invests. At times, certain of the segments of the market represented by constituent Underlying Funds in the Underlying Index may be out of favor and underperform other segments.

The market value of the shares of closed-end investment companies may differ from their NAV. In addition, the shares of closed-end investment companies frequently trade at a discount to their NAV. As an investor in closed-end investment companies, the Fund would bear its ratable share of that closed-end investment companies’ expenses, including its investment advisory and administration fees, while continuing to pay its own advisory and administration fees and other expenses. As a result, shareholders will be absorbing duplicate levels of fees with respect to investments in closed-end investment companies.

The securities of closed-end investment companies in which the Fund may invest may be leveraged. As a result, the Fund may be indirectly exposed to leverage through an investment in such securities.

An investment in securities of closed-end investment companies that use leverage may expose the Fund to higher volatility in the market value of such securities and the possibility that the Fund’s long-term returns on such securities (and, indirectly, the long-term returns of the Shares) will be diminished.

Investment in the Underlying Funds may subject the Fund to the following risks: Investment and Market Risk; Risk of Market Price Discount from Net Asset Value; Interest Rate Risk; Credit Risk; Below Investment Grade Securities Risk; Risks Associated with Options on Securities; Over-The- Counter ("OTC") Option Risk; Index Option Risk; Senior Loans Risk; Municipal Bond Risk; Foreign and Emerging Market Securities Risk; Liquidity Risk; Concentration Risk; Inflation Risk; Deflation Risk; Derivatives Risk; Leverage Risk; Counterparty Risk; Mortgage- and Asset-Backed Securities Risk; Small and Medium Capitalization Company Risk; Micro Capitalization Company Risk; Recent Developments in Financial Markets; Anti-Takeover Provisions Risk. See the prospectus for additional risk information.

The Fund is considered non-diversified and may be subject to greater risks than a diversified fund.

Shares are not individually redeemable and owners of the shares may acquire those shares from the Fund and tender those shares for redemption to the Fund in Creation Units only, typically consisting of aggregations of 50,000 shares.

The S&P 500® Index is an unmanaged index considered representative of the U.S. stock market.

S-Network Global Indexes, LLC SM and S-Network Composite Closed-End Fund Index SM are service marks of S-Network Global Indexes LLC and have been licensed for use by Invesco PowerShares Capital Management LLC. The PowerShares CEF Income Composite Portfolio is not sponsored, endorsed, sold or promoted by S-Network Global Indexes LLC and S-Network Global Indexes LLC makes no representation regarding the advisability of investing in the PowerShares CEF Income Composite Portfolio. Invesco PowerShares Capital Management LLC is not affiliated with S-Network Global Indexes LLC.
As of 5/16/2012 3:59 PM EST
Last Trade $24.26
Current IIV $24.22
Change -0.01
% Change -0.04%
As of 5/15/2012
Market Close
NAV 24.26
As of 5/15/2012
SEC 30 Day Yield 8.27%
Distribution Yield 6.65%
12 Month Yield 8.33%
As of 5/15/2012
Current -3.81%
52-week Average -4.11%
52-week High -3.24%
52-week Low -5.50%
As of 5/16/2012
Previous Close $24.27
Open $24.30
Today's High $24.39
Today's Low $24.25
Today's Volume 285,608
52 Week High $26.78
52 Week Low $21.56
Shares Outstanding 12.20MM
Market Value $295.9MM
Fund Ticker PCEF
CUSIP # 73936Q843
ISIN US73936Q8437
Intraday NAV PCEF.IV
Index Ticker CEFXTR
Index Provider  S-Network Global Indexes LLC
Management Fee 0.50%
Acquired Fund Fees & Expenses 1.06%
Expense Ratio 1.56%
Marginable Yes
Short Selling Yes
Options Yes
Exchange NYSE Arca
Inception Date 2/19/2010
# of Holdings
as of 5/15/2012		 124
1 year | 3 year | YTD
Interactive Charting
The midpoint between the highest bid and the lowest offer, as of the time that the Fund's NAV is calculated, generally around 4 pm (eastern time).
Calculation of the premium or discount of the Bid/Ask Midpoint price at the time of calculation of the NAV against such NAV.
The Intraday Indicative Value for an ETF is typically published under a separate symbol every 15 seconds over the Consolidated Tape and calculated throughout the trading day based on the last sale prices of the securities specified for creation and redemption plus any estimated cash amounts associated with the creation unit, all on a per-ETF share basis.
A standard yield calculation developed by the Securities and Exchange Commission that allows for a common ground comparison of yield performance. It is based on the most recent 30-day period. It is calculated by dividing the net investment income (less expenses) per share over a 30-day period by the current maximum offering price.
The yield represents a single distribution from the fund and does not represent the total return of the fund. The yield is calculated by annualizing the most recent distribution and dividing by the fund NAV from the as of date. N/A will be displayed if the fund did not make a distribution in the most recent quarter.
The sum of a fund's total trailing 12-month interest and dividend payments divided by the last month's ending share price (NAV) plus any capital gains distributed over the same period.
For a description of the application of the Expense Cap and the Gross Ratio and Net Ratio please see the Fund's current prospectus.
Provides the total gross annual fund operating expenses per the Fund's current prospectus.
The Adviser has voluntarily waived of its fee. The fee waiver may be modified or terminated by the Adviser after .
The Adviser has agreed to waive fees and/or pay Fund expenses to the extent necessary to prevent the operating expenses of the Fund (excluding distribution fees, if any, brokerage expenses, taxes, interest, litigation expenses and other extraordinary expenses) from exceeding of the Fund’s average daily net assets per year until at least and neither the Adviser not the Fund can discontinue the agreement prior to its expiration.
The Fund’s pro rata portion of the cumulative expenses charged by the Underlying holdings in which the Fund invests.
Provides the expected expense ratio charged to shareholders per the Fund's current prospectus and reflects the investment advisor's contractual agreement to waive a portion of its fees and/or pay Fund expenses at least until 5/16/2012
The share price divided by earnings per share.
The price per share divided by accounting book value per share.
Net income divided by net worth.
The average market value of a company's outstanding securities, excluding current liabilities. Under $3.5 billion is generally considered small cap; $3.5 billion to $9 billion is mid cap; and over $9 billion is large cap.
The sum of each holding's price multiplied by its weight.
A method of calculating an average value that lessens the impact of large outliers and increases the impact of small ones.
This number indicates the number of trading days represented within the most recent quarter displayed.
New lower expenses. Click icon for more information.
A measure of a bond's sensitivity to interest rate changes that reflects the change in a bond's price given a change in yield. This duration measure is appropriate for bond with embedded options.
A measure of a bond's sensitivity to interest rate changes that reflects the change in a bond's price given a change in yield. This duration measure is appropriate for option-free bonds.
The amount by which a CEF's market price is greater or less than its NAV, expressed as a percent of NAV.
Average Yield to Worst is the average yield to maturity if the worst possible bond repayment takes place.
The annualized rate of return on a loan held to maturity.
The average number of days until the floating component of a loan resets.
London Interbank Offered Rate
The period in the life of a callable bond in which the issuing company is not permitted to redeem the bond.
The amount by which the convertible price exceeds the value of the stock into which it can be converted.
The amount by which the price of the convertible exceeds its value as a straight bond, ignoring the conversion feature.
A measure of the expensiveness/cheapness of the option embedded in the convertible bond.
Ranging from zero to one, a measure of a convertible's price sensitivity to movements in the price of its underlying stock.
The average of each bond’s coupon divided by its current price
.
©2012 Invesco PowerShares Capital Management LLC
PowerShares® is a registered trademark of Invesco PowerShares Capital Management LLC (Invesco PowerShares). Invesco PowerShares Capital Management LLC and Invesco Distributors, Inc. are indirect, wholly owned subsidiaries of Invesco Ltd.
Invesco Distributors, Inc. is the distributor of the PowerShares Exchange-Traded Fund Trust, the PowerShares Exchange-Traded Fund Trust II, the PowerShares India Exchange-Traded Fund Trust and the PowerShares Actively Managed Exchange-Traded Fund Trust.
Investment products offered are: Not FDIC Insured  • No Bank Guarantee  • May Lose Value
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