The PowerShares Insured National Municipal Bond Portfolio (Fund) is based on The BofA Merrill Lynch National Insured Long-Term Core Plus Municipal Securities Index (Index). The Fund will normally invest at least 80% of its total assets in securities that comprise the Index and generally expects to invest at least 90% of its total assets. The Index is designed to track the performance of US dollar-denominated, investment grade, insured tax-exempt debt publicly issued by US municipalities in the US domestic market. The Index is adjusted monthly and its constituents are capitalization-weighted based on their current amount outstanding. The Fund and the Index are rebalanced and reconstituted monthly.

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Date   5/24/2013   Price   25.41   Bid/Ask Midpoint   25.39		NAV   25.44   Bid/Ask Prem/Disc   -0.05   Bid/Ask Prem/Disc   -0.20%

Premium Discount to NAV Chart

As of 3/31/2013

Index History (%)	YTD	1 Year	3 Year	5 Year	10 Year	Fund Inception
BofA Merrill Lynch National Insured Long-Term Core Plus Municipal Securities Index	0.52	6.69	7.23	6.77	5.54	5.82
Barclays Municipal Insured Long 20 Year Index	0.07	7.05	7.53	7.24		6.19
Barclays 20 Year Municipal Bond Index	-0.02	6.85	7.76	7.40	5.84	6.39
Barclays U.S. Aggregate Index	-0.12	3.77	5.52	5.47	5.02	5.97

Fund History (%)	YTD	1 Year	3 Year	5 Year	10 Year	Fund Inception
NAV	-0.15	6.86	7.08	6.52		5.07
After Tax Held	-0.56	6.42	6.91	6.41		4.98
After Tax Sold	-0.08	5.27	6.33	6.00		4.84
Market Price	-0.42	6.74	6.94	6.46		4.87

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 3/31/2013

Data beginning 10/31/2007, 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 The results assume that no cash was added to or assets withdrawn from the Index.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: 10/11/2007

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.

Ex-Date Record Date Pay Date $ / Share Ordinary Income Short Term Gains Long Term Gains Return of Capital 5/15/2013 5/17/2013 5/31/2013 0.07826 0.07826 N.A. N.A. N.A. 4/15/2013 4/17/2013 4/30/2013 0.07827 0.07827 N.A. N.A. N.A. 3/15/2013 3/19/2013 3/28/2013 0.07840 0.07840 N.A. N.A. N.A. 2/15/2013 2/20/2013 2/28/2013 0.08010 0.08010 N.A. N.A. N.A. 1/15/2013 1/17/2013 1/31/2013 0.08414 0.08414 N.A. N.A. N.A. 12/14/2012 12/18/2012 12/31/2012 0.08356 0.08356 N.A. N.A. N.A. 11/15/2012 11/19/2012 11/30/2012 0.08947 0.08947 N.A. N.A. N.A. 10/15/2012 10/17/2012 10/31/2012 0.08107 0.08107 N.A. N.A. N.A. 9/14/2012 9/18/2012 9/28/2012 0.08210 0.08210 N.A. N.A. N.A. 8/15/2012 8/17/2012 8/31/2012 0.08469 0.08469 N.A. N.A. N.A. 7/13/2012 7/17/2012 7/31/2012 0.08960 0.08960 N.A. N.A. N.A. 6/15/2012 6/19/2012 6/29/2012 0.08952 0.08952 N.A. N.A. N.A. 5/15/2012 5/17/2012 5/31/2012 0.09072 0.09072 N.A. N.A. N.A. 4/13/2012 4/17/2012 4/30/2012 0.09147 0.09147 N.A. N.A. N.A. 3/15/2012 3/19/2012 3/30/2012 0.09164 0.09164 N.A. N.A. N.A. 2/15/2012 2/17/2012 2/29/2012 0.09169 0.09169 N.A. N.A. N.A. 1/13/2012 1/18/2012 1/31/2012 0.09183 0.09183 N.A. N.A. N.A. 12/15/2011 12/19/2011 12/30/2011 0.08700 0.08700 N.A. N.A. N.A. 11/15/2011 11/17/2011 11/30/2011 0.08666 0.08666 N.A. N.A. N.A. 10/14/2011 10/18/2011 10/31/2011 0.08625 0.08625 N.A. N.A. N.A. 9/15/2011 9/19/2011 9/30/2011 0.08998 0.08998 N.A. N.A. N.A. 8/15/2011 8/17/2011 8/31/2011 0.09244 0.09244 N.A. N.A. N.A. 7/15/2011 7/19/2011 7/29/2011 0.09204 0.09204 N.A. N.A. N.A. 6/15/2011 6/17/2011 6/30/2011 0.09263 0.09263 N.A. N.A. N.A. 5/13/2011 5/17/2011 5/31/2011 0.09352 0.09352 N.A. N.A. N.A. 4/15/2011 4/19/2011 4/29/2011 0.09267 0.09267 N.A. N.A. N.A. 3/15/2011 3/17/2011 3/31/2011 0.09363 0.09363 N.A. N.A. N.A. 2/15/2011 2/17/2011 2/28/2011 0.09389 0.09389 N.A. N.A. N.A. 1/14/2011 1/19/2011 1/31/2011 0.09546 0.09546 N.A. N.A. N.A. 12/15/2010 12/17/2010 12/31/2010 0.10822 0.10822 N.A. N.A. N.A. 11/15/2010 11/17/2010 11/30/2010 0.08212 0.08212 N.A. N.A. N.A. 10/15/2010 10/19/2010 10/29/2010 0.08372 0.08372 N.A. N.A. N.A. 9/15/2010 9/17/2010 9/30/2010 0.08672 0.08672 N.A. N.A. N.A. 8/13/2010 8/17/2010 8/31/2010 0.08768 0.08768 N.A. N.A. N.A. 7/15/2010 7/19/2010 7/30/2010 0.08954 0.08954 N.A. N.A. N.A. 6/15/2010 6/17/2010 6/30/2010 0.09168 0.09168 N.A. N.A. N.A. 5/14/2010 5/18/2010 5/28/2010 0.09421 0.09421 N.A. N.A. N.A. 4/15/2010 4/19/2010 4/30/2010 0.09366 0.09366 N.A. N.A. N.A. 3/15/2010 3/17/2010 3/31/2010 0.09830 0.09830 N.A. N.A. N.A. 2/12/2010 2/17/2010 2/26/2010 0.09326 0.09326 N.A. N.A. N.A. 1/15/2010 1/20/2010 1/29/2010 0.09446 0.09446 N.A. N.A. N.A. 12/15/2009 12/17/2009 12/31/2009 0.09542 0.09542 N.A. N.A. N.A. 11/13/2009 11/17/2009 11/30/2009 0.09562 0.09562 N.A. N.A. N.A. 10/15/2009 10/19/2009 10/30/2009 0.09584 0.09584 N.A. N.A. N.A. 9/15/2009 9/17/2009 9/30/2009 0.09699 0.09699 N.A. N.A. N.A. 8/14/2009 8/18/2009 8/31/2009 0.09945 0.09945 N.A. N.A. N.A. 7/15/2009 7/17/2009 7/31/2009 0.09174 0.09174 N.A. N.A. N.A. 6/15/2009 6/17/2009 6/30/2009 0.09161 0.09161 N.A. N.A. N.A. 5/15/2009 5/19/2009 5/29/2009 0.08733 0.08733 N.A. N.A. N.A. 4/15/2009 4/17/2009 4/30/2009 0.09154 0.09154 N.A. N.A. N.A. 3/13/2009 3/17/2009 3/31/2009 0.08938 0.08938 N.A. N.A. N.A. 2/13/2009 2/18/2009 2/27/2009 0.09332 0.09332 N.A. N.A. N.A. 1/15/2009 1/20/2009 1/30/2009 0.08311 0.08311 N.A. N.A. N.A. 12/15/2008 12/17/2008 12/31/2008 0.10182 0.10182 N.A. N.A. N.A. 11/14/2008 11/18/2008 11/28/2008 0.08954 0.08954 N.A. N.A. N.A. 10/15/2008 10/17/2008 10/31/2008 0.08782 0.08782 N.A. N.A. N.A. 9/15/2008 9/17/2008 9/30/2008 0.09256 0.09256 N.A. N.A. N.A. 8/15/2008 8/19/2008 8/29/2008 0.08989 0.08989 N.A. N.A. N.A. 7/15/2008 7/17/2008 7/31/2008 0.09041 0.09041 N.A. N.A. N.A. 6/13/2008 6/17/2008 6/30/2008 0.08564 0.08564 N.A. N.A. N.A. 5/15/2008 5/19/2008 5/30/2008 0.08252 0.08252 N.A. N.A. N.A. 4/15/2008 4/17/2008 4/30/2008 0.08379 0.08379 N.A. N.A. N.A. 3/14/2008 3/18/2008 3/31/2008 0.08496 0.08496 N.A. N.A. N.A. 2/15/2008 2/19/2008 2/29/2008 0.09416 0.09416 N.A. N.A. N.A. 1/15/2008 1/17/2008 1/31/2008 0.08993 0.08993 N.A. N.A. N.A. 12/14/2007 12/18/2007 12/31/2007 0.14259 0.14259 N.A. N.A. N.A. 11/15/2007 11/19/2007 11/30/2007 0.09216 0.09216 N.A. N.A. N.A.

View All Distributions Distribution Information

Fund Holdings subject to change

		Coupon Rate	Maturity Date	Rating†	Weight
1.	State of New Jersey	2.50%	06/27/2013	SP-1/MIG2	5.15%
2.	Commonwealth of Govt Dev Bk	5.00%	07/01/2035	AA-/A2	4.58%
3.	Augusta GA Water & Sewerage Revenue	3.50%	10/01/2042	AA-/A1	3.67%
4.	Pennsylvania Turnpike Commission	5.00%	12/01/2042	AA-/A2	3.35%
5.	City of Chicago IL Wastewater Transmission Revenue	5.00%	01/01/2037	AA-/Aa3	2.80%
6.	West Contra Costa Unified School District	5.00%	08/01/2032	AA-/Aa3	2.65%
7.	Metropolitan Transportation Authority	5.00%	11/15/2042	A/A2	2.42%
8.	County of Hamilton OH	5.00%	06/01/2042	AA-/A2	2.41%
9.	County of Miami-Dade FL Water & Sewer System Revenue	5.00%	10/01/2029	AA-/Aa2	2.37%
10.	Wayne County Airport Authority	5.00%	12/01/2042	AA-/A2	2.14%

As of 5/24/2013

View All Fund Holdings

% of Fund  0 - 1 years 5.15  1 - 5 years 0.00  5 - 10 years 0.00  10 - 15 years 1.65  15 - 20 years 17.97  20 - 25 years 31.00  25 years and over 44.23  As of 5/24/2013

^†Credit ratings are assigned by Nationally Recognized Statistical Rating Organizations based on assessment of the credit worthiness of the underlying bond issuers. The ratings range from AAA (highest) to D (lowest) and are subject to change. Not rated indicates the debtor was not rated, and should not be interpreted as indicating low quality. Futures and other derivatives are not eligible for assigned credit ratings by any NRSRO and are excluded from quality allocations. For more information on rating methodologies, please visit the following NRSRO websites: standardandpoors.com and select "Understanding Ratings" under Rating Resources and moodys.com and select "Rating Methodologies" under Research and Ratings.

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.

Municipal securities may be affected by political changes as well as uncertainties in the municipal market related to taxation, legislative changes or the rights of municipal security holders. The market for municipal bonds may also be less liquid than for taxable bonds.

The fund may invest in debt securities, such as notes and bonds, which carry interest rate and credit risk. Interest rate risk refers to the risk that bond prices generally fall as interest rates rise and vice versa. Credit risk is the risk of loss on an investment due to the deterioration of an issuer's financial health.

The Fund’s underlying securities may be subject to call risk, which may result in the Fund having to reinvest the proceeds at lower interest rates, resulting in a decline in the Fund’s income.

Municipal insurance doesn’t protect against losses in the fund.

The Fund’s use of a representative sampling approach will result in its holding a smaller number of securities than are in the underlying Index, and may be subject to greater volatility.

Unlike most exchange-traded funds (“ETFs”), the Fund currently intends to effect creations and redemptions principally for cash, rather than principally for in-kind securities, because of the nature of the Fund’s investments. As such, investments in Shares may be less tax efficient than investments in conventional ETFs.

There is no guarantee that the Fund’s income will be exempt from federal or state income taxes.

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

The Barclays  Muni Insured Long 20 Year Index and the Barclays  20 Year Municipal Bond Index are unmanaged indexes of insured municipal securities and municipal bonds with a remaining maturity of 17 to 22 years, respectively. The Barclays  U.S. Aggregate Index is an unmanaged index considered representative of the U.S. investment-grade, fixed-rate bond market.

"BofA Merrill Lynch" and "The BofA Merrill Lynch National Insured Long-Term Core Plus Municipal Securities Index SM" are reprinted with permission. ©Copyright 2010 Merrill Lynch, Pierce, Fenner & Smith Incorporated ("BofA Merrill Lynch"). All rights reserved. "BofA Merrill Lynch" and "The BofA Merrill Lynch National Insured Long-Term Core Plus Municipal Securities Index SM" are service marks of BofA Merrill Lynch and/or its affiliates and have been licensed for use for certain purposes by PowerShares on behalf of the PowerShares Insured National Municipal Bond Portfolio that is based on The BofA Merrill Lynch National Insured Long-Term Core Plus Municipal Securities Index SM, and is not issued, sponsored, endorsed or promoted by BofA Merrill Lynch and/or BofA Merrill Lynch's affiliates nor is BofA Merrill Lynch and/or BofA Merrill Lynch's affiliates an adviser to the PowerShares Insured National Municipal Bond Portfolio. BofA Merrill Lynch and BofA Merrill Lynch's affiliates make no representation, express or implied, regarding the advisability of investing in the PowerShares Insured National Municipal Bond Portfolio or The BofA Merrill Lynch National Insured Long-Term Core Plus Municipal Securities Index SM and do not guarantee the quality, accuracy or completeness of The BofA Merrill Lynch National Insured Long-Term Core Plus Municipal Securities Index SM, index values or any index related data included herein, provided herewith or derived therefrom and assume no liability in connection with their use. As the index provider, BofA Merrill Lynch is licensing certain trademarks, The BofA Merrill Lynch National Insured Long-Term Core Plus Municipal Securities Index SM and trade names that are composed by BofA Merrill Lynch without regard to PowerShares, the PowerShares Insured National Municipal Bond Portfolio or any investor. BofA Merrill Lynch and BofA Merrill Lynch’s affiliates do not provide investment advice to PowerShares or the PowerShares Insured National Municipal Bond Portfolio and are not responsible for the performance of the PowerShares Insured National Municipal Bond Portfolio.