| The Shares are subject to market fluctuations caused by such factors as economic, political, regulatory or market developments, changes in interest rates and perceived trends in securities prices. |
| There are risks involved with investing in ETFs including possible loss of money. Index-based ETFs are not actively managed. Actively managed ETFs do not necessarily seek to replicate the performance of a specified index. Both index-based and actively managed ETFs are subject to risk similar to stocks, including those related to short selling and margin maintenance. Ordinary brokerage commissions apply. |
| While it is not Invesco PowerShares intention, there is no guarantee that the Funds will not distribute capital gains to its shareholders. |
| Investors should consider their entire financial situation when contemplating selling one security in exchange for another and not just one facet, such as taxes. |
| The benefits of tax-loss harvesting will vary depending on each investor's income tax situation. ETFs may have additional risks that may not be associated with an investor's original investment. Please read the fund's prospectus carefully before investing. Invesco PowerShares does not offer tax advice. Investors should consult their own tax advisor for information regarding their own tax situations. |
| There is no guarantee that the Funds' income will be exempt from federal or state income taxes. |
