The PowerShares NYSE Century Portfolio (Fund) is based on the NYSE Century IndexSM (Index). The Fund will normally invest at least 90% of its total assets in equity securities that comprise the Index. The Index is designed to measure the performance of some of the largest and oldest public companies in the US. To be eligible for inclusion in the Index, a company must have been incorporated in the US for at least 100 years, have been listed on a major US exchange and have a market capitalization of at least $1 billion as of the Index’s latest rebalancing date. The Fund and the Index are rebalanced and reconstituted annually in December.
This is a new Fund and has no full-year Fund performance to report as of most recent quarter end. 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.
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.
Common stock risk is the financial risk that the value of an individual company’s stock may fall as a result of factors directly relating to that company, such as decisions made by its management or lower demand for the company’s products or services. Common stocks may decline significantly in price over short or extended periods of time.
Investing in securities of large-cap companies may involve greater risk than is customarily associated with investing in stocks of smaller companies.
Investments focused in a particular industry are subject to greater risk, and are more greatly impacted by market volatility, than more diversified investments.
The Global Industry Classification Standard was developed by and is the exclusive property and a service mark of MSCI, Inc. and Standard & Poor's.
The S&P 500® Index is an unmanaged index considered representative of the U.S. stock market.
NYSE Century IndexSM and NYSE® are service marks of NYSE Euronext or its affiliates (NYSE Euronext) and have been licensed for use by Invesco PowerShares Capital Management LLC (the Adviser) in connection with PowerShares NYSE Century Portfolio (the Fund). Neither the Adviser nor the Fund is sponsored, endorsed, sold or promoted by NYSE Euronext. NYSE Euronext makes no representations or warranties regarding the Trust or the Fund or the ability of the NYSE Century IndexSM to track general stock market performance.
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.