Exchange-Traded Funds (ETFs)

KBWD - PowerShares KBW High Dividend Yield Financial Portfolio

Income - Equity Income

Product Details

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.

as of 03/31/2014 03/31/2014

Performance


   
as of 03/31/2014 03/31/2014
  YTD 1 Year 3 Year 5 Year 10 Year Fund Inception
Index History (%)
KBW Financial Sector Dividend Yield Index 2.58 6.47 11.66 26.90 N/A 12.36
S&P 500 Financials Index 2.61 24.91 13.00 22.39 -0.48 14.55
Fund History (%)
Fund NAV 2.50 6.03 11.17 N/A N/A 11.88
After Tax Held 1.70 3.79 8.86 N/A N/A 9.51
After Tax Sold 1.41 4.48 8.41 N/A N/A 8.99
Fund Market Price 2.54 5.91 11.15 N/A N/A 11.92

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. After Tax Held and After Tax Sold are based on NAV.

as of 03/31/2014

Growth of $10,000

Data beginning Fund inception and ending 03/31/2014.

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 The results assume that no cash was added to or assets withdrawn from the Index.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.

as of 04/17/2014

Subindustry Allocations

as of 04/11/2014

Market Cap & Style Allocations

Large-Cap Blend 2.66%
Mid-Cap Value 20.98%
Mid-Cap Blend 2.94%
Small-Cap Value 62.82%
Small-Cap Blend 10.60%

as of 04/17/2014 Top Holdings | View All

Fund Holdings subject to change

Ticker Company % of Fund
IVR Invesco Mortgage Capital Inc 4.63
AGNC American Capital Agency Corp 4.56
MCC Medley Capital Corp 4.42
NLY Annaly Capital Management Inc 4.27
MFA MFA Financial Inc 4.16
HTS Hatteras Financial Corp 4.16
CMO Capstead Mortgage Corp 4.15
PNNT PennantPark Investment Corp 3.99
PMT PennyMac Mortgage Investment Trust 3.90
TCRD THL Credit Inc 3.84

Distributions | View All | Distribution Information

Ex-Date Record Date Pay Date $/
Share
Ordinary Income Short Term Gains Long Term Gains Return of Capital
04/15/2014 04/17/2014 04/30/2014 0.18000 0.18000 - - -
03/14/2014 03/18/2014 03/31/2014 0.16366 0.16366 - - -
02/14/2014 02/19/2014 02/28/2014 0.14913 0.14913 - - -
01/15/2014 01/17/2014 01/31/2014 0.14807 0.14807 - - -
12/13/2013 12/17/2013 12/31/2013 0.15357 0.15357 - - -
11/15/2013 11/19/2013 11/29/2013 0.15309 0.15309 - - -
10/15/2013 10/17/2013 10/31/2013 0.14478 0.14478 - - -
09/13/2013 09/17/2013 09/30/2013 0.15296 0.15296 - - -
08/15/2013 08/19/2013 08/30/2013 0.15431 0.15431 - - -
07/15/2013 07/17/2013 07/31/2013 0.16033 0.16033 - - -
06/14/2013 06/18/2013 06/28/2013 0.17405 0.17405 - - -
05/15/2013 05/17/2013 05/31/2013 0.17018 0.17018 - - -
04/15/2013 04/17/2013 04/30/2013 0.18020 0.18020 - - -
03/15/2013 03/19/2013 03/28/2013 0.16673 0.16673 - - -
02/15/2013 02/20/2013 02/28/2013 0.16765 0.16765 - - -
01/15/2013 01/17/2013 01/31/2013 0.17016 0.17016 - - -
12/14/2012 12/18/2012 12/31/2012 0.17021 0.17021 - - -
11/15/2012 11/19/2012 11/30/2012 0.16689 0.16689 - - -
10/15/2012 10/17/2012 10/31/2012 0.15474 0.15474 - - -
09/14/2012 09/18/2012 09/28/2012 0.16113 0.16113 - - -
08/15/2012 08/17/2012 08/31/2012 0.16155 0.16155 - - -
07/13/2012 07/17/2012 07/31/2012 0.17177 0.17177 - - -
06/15/2012 06/19/2012 06/29/2012 0.17807 0.17807 - - -
05/15/2012 05/17/2012 05/31/2012 0.17785 0.17785 - - -
04/13/2012 04/17/2012 04/30/2012 0.17997 0.17997 - - -
03/15/2012 03/19/2012 03/30/2012 0.20317 0.20317 - - -
02/15/2012 02/17/2012 02/29/2012 0.18645 0.18645 - - -
01/13/2012 01/18/2012 01/31/2012 0.17848 0.17848 - - -
12/27/2011 12/29/2011 12/30/2011 0.10785 0.10785 - - -
12/15/2011 12/19/2011 12/30/2011 0.28500 0.28500 - - -
11/15/2011 11/17/2011 11/30/2011 0.20263 0.20263 - - -
10/14/2011 10/18/2011 10/31/2011 0.20483 0.20483 - - -
09/15/2011 09/19/2011 09/30/2011 0.20352 0.20352 - - -
08/15/2011 08/17/2011 08/31/2011 0.18557 0.18557 - - -
07/15/2011 07/19/2011 07/29/2011 0.18566 0.18566 - - -
06/15/2011 06/17/2011 06/30/2011 0.17798 0.17798 - - -
05/13/2011 05/17/2011 05/31/2011 0.18637 0.18637 - - -
04/15/2011 04/19/2011 04/29/2011 0.18611 0.18611 - - -
03/15/2011 03/17/2011 03/31/2011 0.19994 0.19994 - - -
02/15/2011 02/17/2011 02/28/2011 0.17891 0.17891 - - -
01/14/2011 01/19/2011 01/31/2011 0.19201 0.19201 - - -
01/04/2011 01/06/2011 01/31/2011 0.33308 0.33308 - - -

Frequency Distribution of Discounts & Premiums

    Bid/Ask MidPoint Above NAV Bid/Ask Midpoint Below NAV
Quarter
Ending
Days 0.50-
0.99%
1.00-
1.99%
>2.00% 0.50-
0.99%
1.00-
1.99%
>2.00%
03/31/2014 61 0 0 0 0 1 0
12/31/2013 64 0 0 0 0 0 0
09/30/2013 64 0 0 0 0 0 0
06/30/2013 64 0 0 0 0 0 0
Year Ended 2013 252 0 0 0 0 0 0

Fund Inception: 12/02/2010

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.


 Risk & Other Information

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.

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.

Investments focused in a particular industry or sector, such as the financial sector are subject to greater risk, and are more greatly impacted by market volatility, than more diversified investments.

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 US public companies, cash, cash equivalents, US 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.

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.

Investing in securities of small and medium-sized companies may involve greater risk than is customarily associated with investing in large companies.

Equity risk is the risk that the value of equity securities, including common stocks, may fall due to both changes in general economic and political conditions that impact the market as a whole, as well as factors that directly relate to a specific company or its industry.

The S&P 500® Financials 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.

Beta is a measure of risk representing how a security is expected to respond to general market movements. Smart Beta represents an alternative and selection index based methodology that seeks to outperform a benchmark or reduce portfolio risk, or both. Smart beta funds may underperform cap-weighted benchmarks and increase portfolio risk.

as of 04/17/2014
3:59 PM EST

KBWD

  • Last Trade $25.36
  • Current IIV $25.33
  • Change $0.04
  • % Change 0.16%
as of 04/17/2014
  • NAV at market close $25.34
as of 04/17/2014

Yield

  • SEC 30 Day Yield 7.82%
  • Distribution Yield 8.52%
  • 12 Month Yield 7.50%
  • 30-Day SEC Unsubsidized Yield
    as of 04/17/2014
    N/A
as of 04/17/2014

Closing

  • Closing Price $25.32
  • Bid/Ask Midpoint $25.36
  • Bid/Ask Prem/Disc $0.02
  • Bid/Ask Prem/Disc 0.08%
as of 03/31/2014

Fund Characteristics

  • Price/Earnings Ratio1 15.33
  • Price/Book Ratio1 1.41
  • ROE2 8.295%
  • Avg Market Cap2 $2,946MM

1 Weighted Harmonic Average

2 Weighted Average

Fund Details

  • Fund Ticker KBWD
  • CUSIP # 73936Q793
  • ISIN US73936Q7934
  • Intraday NAV KBWDIV
  • Index Ticker KDXTR
  • Index Provider Keefe, Bruyette & Woods, Inc.
  • Management Fee 0.35%
  • Acquired Fund Fees & Expenses 1.18%
  • Total Expense Ratio 1.55%
  • Marginable Yes
  • Short Selling Yes
  • Options No
  • Exchange NYSE Arca
  • Inception Date 12/02/2010
  • # of Holdings 38
    as of 04/17/2014
as of 04/17/2014

Quick Facts

  • Previous Close $25.32
  • Open $25.46
  • Today's High $25.46
  • Today's Low $25.25
  • Today's Volume 30,740
  • 52 Week High $26.74
  • 52 Week Low $23.56
  • Shares Outstanding 9.60MM
  • Market Value $243.2MM

Materials & Resources