PowerShares ETFs

PCY - PowerShares Emerging Markets Sovereign Debt Portfolio

Fixed Income - International and Global Fixed Income

Product Details

The PowerShares Emerging Markets Sovereign Debt Portfolio (Fund) is based on the DB Emerging Market USD Liquid Balanced Index (Index). The Fund will normally invest at least 90% of its total assets in securities that comprise the Index. The Index tracks the potential returns of a theoretical portfolio of liquid emerging markets US dollar-denominated government bonds issued by approximately 22 emerging-market countries. The countries in the Index are selected annually pursuant to a proprietary index methodology. The Fund and the Index are rebalanced and reconstituted quarterly.

as of 03/31/2016

Morningstar Rating

Overall Rating - ETF Emerging Markets Bond Category

As of 03/31/2016 the Fund had an overall rating of 5 stars out of 14 funds and was rated 5 stars out of 14 funds, 5 stars out of 6 funds and N/A stars out of N/A funds for the 3-, 5- and 10- year periods, respectively.

Morningstar details

Source: Morningstar Inc. Ratings are based on a risk-adjusted return measure that accounts for variation in a fund's monthly performance (including the effect of sales charges, loads and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The overall rating is derived from a weighted average of three-, five- and 10-year rating metrics, as applicable. ©2016 Morningstar Inc. All rights reserved. The information contained herein is proprietary to Morningstar and/or its content providers. It may not be copied or distributed and is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance does not guarantee future results. A fund is eligible for a Morningstar Rating three years after inception. The top 10% of funds in a category receive five stars, the next 22.5% four stars, the next 35% three stars, the next 22.5% two stars and the bottom 10% one star. (Each share class is counted as a fraction of one fund within this scale and rated separately, which may cause slight variations in the distribution percentages.) Ratings for other share classes may differ due to different performance characteristics.

as of 03/31/2016 03/31/2016

Performance

  YTD 1Yr 3Yr 5Yr 10Yr Since Inception
Index History (%)
DB Emerging Market USD Liquid Balanced Index 5.12 5.56 3.80 7.48 N/A 8.08
JP Morgan EMBI Global Index 5.22 4.36 2.43 5.97 7.11 6.87
DB Emerging Market USD Liquid Balanced Index 5.12 5.56 3.80 7.48 N/A 8.08
JP Morgan EMBI Global Index 5.22 4.36 2.43 5.97 7.11 6.87
Fund History (%)
Fund NAV 4.87 4.88 3.17 6.50 N/A 6.93
After Tax Held 4.25 2.43 1.02 4.42 N/A 4.75
After Tax Sold 2.74 2.70 1.41 4.12 N/A 4.48
Fund Market Price 5.05 5.07 3.27 6.54 N/A 6.86
Fund NAV 4.87 4.88 3.17 6.50 N/A 6.93
After Tax Held 4.25 2.43 1.02 4.42 N/A 4.75
After Tax Sold 2.74 2.70 1.41 4.12 N/A 4.48
Fund Market Price 5.05 5.07 3.27 6.54 N/A 6.86

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. Returns less than one year are cumulative.


as of 03/31/2016

Growth of $10,000

Data beginning Fund inception and ending 03/31/2016. Fund performance shown at NAV.

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 05/03/2016

Top Country Allocation

Quality Allocations as of 05/03/2016

S&P Moody's
AA : 6% Aa : 6%
A : 10% A : 17%
BBB : 37% Baa : 34%
BB : 24% Ba : 17%
B : 17% B : 13%
CCC : 3% Caa : 6%
Not Rated : 3% Not Rated : 7%

Cash is excluded from the credit rating quality allocations table.

as of 05/03/2016 Maturity

Years % of Fund
0 - 1 years 0.00
1 - 5 years 19.98
5 - 10 years 29.43
10 - 15 years 6.57
15 - 20 years 12.47
20 - 25 years 13.94
25 years and over 17.61

as of 05/03/2016Top Fixed-Income Holdings | View All

Holding Name Coupon Rate Maturity Date Next Call Date S&P / Moody's Rating† Weight
Latvia Government International Bond 2.75% 01/12/2020 N/A A-/A3 3.26%
Morocco Government International Bond 5.50% 12/11/2042 N/A BBB-/NA 1.72%
Serbia International Bond 4.88% 02/25/2020 N/A BB-/B1 1.63%
Morocco Government International Bond 4.25% 12/11/2022 N/A BBB-/NR 1.62%
Serbia International Bond 7.25% 09/28/2021 N/A BB-/B1 1.60%
Brazilian Government International Bond 5.62% 01/07/2041 N/A BB/Ba2 1.22%
Colombia Government International Bond 5.62% 02/26/2044 08/26/2043 BBB/Baa2 1.22%
Colombia Government International Bond 6.12% 01/18/2041 N/A BBB/Baa2 1.21%
Brazilian Government International Bond 7.12% 01/20/2037 N/A BB/Ba2 1.20%
Brazilian Government International Bond 8.25% 01/20/2034 N/A BB/Ba2 1.19%

Holdings are subject to change and are not buy/sell recommendations.

Distributions | View All | Distribution Information

Ex-Date Record Date Pay Date $/
Share
Ordinary Income Short Term Gains Long Term Gains Return of Capital
04/15/2016 04/19/2016 04/29/2016 0.12364 0.12364 - - -
03/15/2016 03/17/2016 03/31/2016 0.12085 0.12085 - - -
02/12/2016 02/17/2016 02/29/2016 0.12510 0.12510 - - -
01/15/2016 01/20/2016 01/29/2016 0.12556 0.12556 - - -
12/15/2015 12/17/2015 12/31/2015 0.12437 0.12437 - - -
11/13/2015 11/17/2015 11/30/2015 0.13000 0.13000 - - -
10/15/2015 10/19/2015 10/30/2015 0.13000 0.13000 - - -
09/15/2015 09/17/2015 09/30/2015 0.13000 0.13000 - - -
08/14/2015 08/18/2015 08/31/2015 0.13000 0.13000 - - -
07/15/2015 07/17/2015 07/31/2015 0.13000 0.13000 - - -
06/15/2015 06/17/2015 06/30/2015 0.13000 0.13000 - - -
05/15/2015 05/19/2015 05/29/2015 0.12300 0.12300 - - -
04/15/2015 04/17/2015 04/30/2015 0.12000 0.12000 - - -
03/13/2015 03/17/2015 03/31/2015 0.12000 0.12000 - - -
02/13/2015 02/18/2015 02/27/2015 0.11109 0.11109 - - -
01/15/2015 01/20/2015 01/30/2015 0.11207 0.11207 - - -
12/15/2014 12/17/2014 12/31/2014 0.10934 0.10934 - - -
11/14/2014 11/18/2014 11/28/2014 0.11071 0.11071 - - -
10/15/2014 10/17/2014 10/31/2014 0.10364 0.10364 - - -
09/15/2014 09/17/2014 09/30/2014 0.10545 0.10545 - - -
08/15/2014 08/19/2014 08/29/2014 0.10721 0.10721 - - -
07/15/2014 07/17/2014 07/31/2014 0.10850 0.10850 - - -
06/13/2014 06/17/2014 06/30/2014 0.10803 0.10803 - - -
05/15/2014 05/19/2014 05/30/2014 0.10987 0.10987 - - -
04/15/2014 04/17/2014 04/30/2014 0.10966 0.10966 - - -
03/14/2014 03/18/2014 03/31/2014 0.10615 0.10615 - - -
02/14/2014 02/19/2014 02/28/2014 0.10542 0.10542 - - -
01/15/2014 01/17/2014 01/31/2014 0.10557 0.10557 - - -
12/13/2013 12/17/2013 12/31/2013 0.10553 0.10553 - - -
11/15/2013 11/19/2013 11/29/2013 0.10374 0.10374 - - -
10/15/2013 10/17/2013 10/31/2013 0.09500 0.09500 - - -
09/13/2013 09/17/2013 09/30/2013 0.10500 0.10500 - - -
08/15/2013 08/19/2013 08/30/2013 0.10400 0.10400 - - -
07/15/2013 07/17/2013 07/31/2013 0.10500 0.10500 - - -
06/14/2013 06/18/2013 06/28/2013 0.10152 0.10152 - - -
05/15/2013 05/17/2013 05/31/2013 0.10276 0.10276 - - -
04/15/2013 04/17/2013 04/30/2013 0.10245 0.10245 - - -
03/15/2013 03/19/2013 03/28/2013 0.10944 0.10944 - - -
02/15/2013 02/20/2013 02/28/2013 0.11506 0.11506 - - -
01/15/2013 01/17/2013 01/31/2013 0.11740 0.11740 - - -
12/14/2012 12/18/2012 12/31/2012 0.11638 0.11638 - - -
11/15/2012 11/19/2012 11/30/2012 0.11867 0.11867 - - -
10/15/2012 10/17/2012 10/31/2012 0.11918 0.11918 - - -
09/14/2012 09/18/2012 09/28/2012 0.11707 0.11707 - - -
08/15/2012 08/17/2012 08/31/2012 0.11911 0.11911 - - -
07/13/2012 07/17/2012 07/31/2012 0.12242 0.12242 - - -
06/15/2012 06/19/2012 06/29/2012 0.12268 0.12268 - - -
05/15/2012 05/17/2012 05/31/2012 0.12342 0.12342 - - -
04/13/2012 04/17/2012 04/30/2012 0.12534 0.12534 - - -
03/15/2012 03/19/2012 03/30/2012 0.12432 0.12432 - - -
02/15/2012 02/17/2012 02/29/2012 0.12088 0.12088 - - -
01/13/2012 01/18/2012 01/31/2012 0.12198 0.12198 - - -
12/15/2011 12/19/2011 12/30/2011 0.13858 0.13858 - - -
11/15/2011 11/17/2011 11/30/2011 0.11000 0.11000 - - -
10/14/2011 10/18/2011 10/31/2011 0.10900 0.10900 - - -
09/15/2011 09/19/2011 09/30/2011 0.11939 0.11939 - - -
08/15/2011 08/17/2011 08/31/2011 0.12241 0.12241 - - -
07/15/2011 07/19/2011 07/29/2011 0.12223 0.12223 - - -
06/15/2011 06/17/2011 06/30/2011 0.12582 0.12582 - - -
05/13/2011 05/17/2011 05/31/2011 0.12592 0.12592 - - -
04/15/2011 04/19/2011 04/29/2011 0.12741 0.12741 - - -
03/15/2011 03/17/2011 03/31/2011 0.13036 0.13036 - - -
02/15/2011 02/17/2011 02/28/2011 0.13053 0.13053 - - -
01/14/2011 01/19/2011 01/31/2011 0.13280 0.13280 - - -
12/15/2010 12/17/2010 12/31/2010 0.12837 0.12837 - - -
11/15/2010 11/17/2010 11/30/2010 0.11911 0.11911 - - -
10/15/2010 10/19/2010 10/29/2010 0.12252 0.12252 - - -
09/15/2010 09/17/2010 09/30/2010 0.12351 0.12351 - - -
08/13/2010 08/17/2010 08/31/2010 0.12872 0.12872 - - -
07/15/2010 07/19/2010 07/30/2010 0.13081 0.13081 - - -
06/15/2010 06/17/2010 06/30/2010 0.13262 0.13262 - - -
05/14/2010 05/18/2010 05/28/2010 0.13491 0.13491 - - -
04/15/2010 04/19/2010 04/30/2010 0.13607 0.13607 - - -
03/15/2010 03/17/2010 03/31/2010 0.14034 0.14034 - - -
02/12/2010 02/17/2010 02/26/2010 0.13768 0.13768 - - -
01/15/2010 01/20/2010 01/29/2010 0.13956 0.13956 - - -
12/15/2009 12/17/2009 12/31/2009 0.14530 0.14530 - - -
11/13/2009 11/17/2009 11/30/2009 0.13415 0.13415 - - -
10/15/2009 10/19/2009 10/30/2009 0.13740 0.13740 - - -
09/15/2009 09/17/2009 09/30/2009 0.13959 0.13959 - - -
08/14/2009 08/18/2009 08/31/2009 0.14137 0.14137 - - -
07/15/2009 07/17/2009 07/31/2009 0.14206 0.14206 - - -
06/15/2009 06/17/2009 06/30/2009 0.13379 0.13379 - - -
05/15/2009 05/19/2009 05/29/2009 0.12526 0.12526 - - -
04/15/2009 04/17/2009 04/30/2009 0.12956 0.12956 - - -
03/13/2009 03/17/2009 03/31/2009 0.13500 0.13500 - - -
02/13/2009 02/18/2009 02/27/2009 0.12833 0.12833 - - -
01/15/2009 01/20/2009 01/30/2009 0.11382 0.11382 - - -
12/15/2008 12/17/2008 12/31/2008 0.14419 0.14419 - - -
11/14/2008 11/18/2008 11/28/2008 0.11644 0.11644 - - -
10/15/2008 10/17/2008 10/31/2008 0.11831 0.11831 - - -
09/15/2008 09/17/2008 09/30/2008 0.11900 0.11900 - - -
08/15/2008 08/19/2008 08/29/2008 0.12164 0.12164 - - -
07/15/2008 07/17/2008 07/31/2008 0.11610 0.11610 - - -
06/13/2008 06/17/2008 06/30/2008 0.09809 0.09809 - - -
05/15/2008 05/19/2008 05/30/2008 0.11333 0.11333 - - -
04/15/2008 04/17/2008 04/30/2008 0.11706 0.11706 - - -
03/14/2008 03/18/2008 03/31/2008 0.12140 0.12140 - - -
02/15/2008 02/19/2008 02/29/2008 0.12631 0.12631 - - -
01/15/2008 01/17/2008 01/31/2008 0.12567 0.12567 - - -
12/14/2007 12/18/2007 12/31/2007 0.17232 0.17232 - - -
11/15/2007 11/19/2007 11/30/2007 0.13675 0.13675 - - -

Frequency Distribution of Discounts & Premiums

    Bid/Ask MidPoint Above NAV
Quarter
Ending
Days 0.00-
0.25%
0.26-
0.50%
0.51-
0.99%
1.00-
1.49%
1.50-
1.99%
≥2.00%
03/31/2016 61 18 6 0 0 0 0
12/31/2015 64 20 0 0 0 0 0
09/30/2015 64 9 0 0 0 0 0
06/30/2015 63 14 1 0 0 0 0
Year Ended 2015 252 64 7 1 1 0 0
    Bid/Ask Midpoint Below NAV
Quarter
Ending
Days 0.00-
0.25%
0.26-
0.50%
0.51-
0.99%
1.00-
1.49%
1.50-
1.99%
≥2.00%
03/31/2016 61 22 14 1 0 0 0
12/31/2015 64 35 7 2 0 0 0
09/30/2015 64 21 31 3 0 0 0
06/30/2015 63 28 20 0 0 0 0
Year Ended 2015 252 103 67 9 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.


 Risk & Other Information

† 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. The Fund is subject to certain other risks. Please see the current prospectus for more information regarding the risk associated with an investment in the Fund.

Fixed-income investments are subject to credit risk of the issuer and the effects of changing interest rates. Interest rate risk refers to the risk that bond prices generally fall as interest rates rise and vice versa. An issuer may be unable to meet interest and/or principal payments, thereby causing its instruments to decrease in value and lowering the issuer’s credit rating. Junk bonds involve a greater risk of default or price changes due to changes in the issuer’s credit quality. The values of junk bonds fluctuate more than those of high quality bonds and can decline significantly over short time periods. Due to anticpated Federal Reserve Board policy changes, there is risk that interest rats will rise in the near future.

Government obligors in emerging market countries are among the world's largest debtors to commercial banks, other governments, international financial organizations and other financial instruments. Issuers of sovereign debt or the governmental authorities that control repayment may be unable or unwilling to repay principal or interest when due, and the Fund may have limited recourse in the event of default. Without debt holder approval, some governmental debtors may be able to reschedule or restructure their debt payments or declare moratoria on payments.

Global bonds are subject to the same risks as other debt issues. Securities of non-U.S. issuers may be subject to greater market volatility based on factors such as availability of reliable financial information, higher transactional costs, taxation, decreased market liquidity and political instability.

The Fund may hold illiquid securities that it may be unable to sell at the preferred time or price and could lose its entire investment in such securities.

The Fund may invest in foreign bonds and because foreign exchanges may be open on days when the Fund does not price its shares, the value of the non-US securities in the Fund's portfolio my change on days when you will not be able to purchase or sell your shares.

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

The Fund is non-diversified and may experience greater volatility than a more diversified investment.

Investments focused in a particular industry are subject to greater risk, and are more greatly impacted by market volatility, than more diversified investments.

The JP Morgan Emerging Markets Bond Index Global (EMBI Global) is an unmanaged index that tracks debt securities of emerging markets.

Deutsche Bank Securities Inc. is the Index Provider for the PowerShares Emerging Markets Sovereign Debt Portfolio. DB is not affiliated with the Trust, the Adviser or the Distributor. The Adviser has entered into a license agreement with the Index Provider to use the Deutsche Bank Emerging Market U.S. Dollar Balanced Liquid Index. The PowerShares Emerging Markets Sovereign Debt Portfolio is entitled to use the Deutsche Bank Emerging Market U.S. Dollar Balanced Liquid Index pursuant to a sub-licensing arrangement with the Adviser.

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 05/03/2016
4:00 PM EST

PCY
Intraday Stats

  • Last Trade $28.54
  • Current IIV $28.46
  • Change -$0.07
  • % Change -0.24%
as of 05/03/2016
  • NAV at market close $28.57
as of 05/03/2016

Fund Yield

  • SEC 30 Day Yield 5.40%
  • Distribution Rate 5.19%
  • 12 Month Distribution Rate 5.31%
  • 30-Day SEC Unsubsidized Yield
    as of 05/02/2016
    5.39%
as of 05/03/2016

Prior Close

  • Closing Price $28.61
  • Bid/Ask Midpoint $28.54
  • Bid/Ask Prem/Disc -$0.03
  • Bid/Ask Prem/Disc -0.11%
as of 04/29/2016

Fund Characteristics

  • Effective Duration 8.49 yrs
  • Modified Duration 8.42 yrs
  • Yield to Maturity 5.84%
  • Yield to Worst 5.83%
  • Years to Maturity 14.29
  • Weighted Avg Coupon 6.43%
  • Weighted Avg Price
    as of 05/03/2016
    105.49
As of June 5, 2015, the source of the calculation for these fund characteristics was changed from Aladdin (BRS) to Bloomberg.

Fund Details

  • Fund Ticker PCY
  • CUSIP # 73936T573
  • ISIN US73936T5737
  • Intraday NAV PCYIV
  • Index Ticker DBLQBLTR
  • Index Provider Deutsche Bank AG London
  • Management Fee 0.50%
  • Total Expense Ratio 0.50%
  • Marginable Yes
  • Short Selling Yes
  • Options Yes
  • Exchange NYSE Arca
  • Inception Date 10/11/2007
  • NAIC Designation 4
  • # of Holdings 86
    as of 05/03/2016

SVO Disclosure

The Securities Valuation Office of the National Association of Insurance Commissioners (NAIC) assigns credit quality designations to securities held by state-regulated insurance companies. NAIC Designations are opinions of credit quality that range from NAIC 1, being the highest quality, to NAIC 6, being the lowest quality. “P” is a valuation indicator used to classify perpetual preferred stock. NAIC Designations allow fixed-income ETFs to be reported as bonds and are used to set Risk-Based Capital (RBC) requirements. NAIC designations only measure credit risk and do not measure other risks or factors that may affect repayment, such as volatility/interest rate, prepayment, extension or liquidity risk.

Preliminary NAIC Designation Disclosure:

Preliminary NAIC Designations are the intellectual property of the National Association of Insurance Commissioners (NAIC) and are redistributed here under License. A Preliminary NAIC Designation is an opinion of the NAIC Securities Valuation Office (SVO) of the probable credit quality designation that would be assigned by the SVO to an investment if purchased by an insurance company and reported to the SVO. A Preliminary NAIC Designations is only one of the regulatory factors considered by the SVO as part of its analysis of probable regulatory treatment under the Regulatory Treatment Analysis Service. A full discussion of such other regulatory factors is set forth in the RTAS Letter provided to Invesco PowerShares Capital Management LLC. A Preliminary NAIC Designation cannot be used to report the ETF to state insurance regulators. However, the purchasing insurance company may obtain an NAIC Designation for the ETF by filing the security and final documents for the ETF with the SVO. The indication of probable regulatory treatment indicated by a Preliminary NAIC Designation is not a recommendation to purchase the ETF and is not intended to convey approval or endorsement of the ETF Sponsor or the ETF by the NAIC.

Official NAIC Designation Disclosure:

NAIC Designations are the intellectual property of the National Association of Insurance Commissioners (NAIC) and are redistributed here under License. An NAIC Designation is a proprietary symbol used by the NAIC Securities Valuation Office (SVO) to denote a category or band of credit risk (i.e., the likelihood of repayment in accordance with a written contract) for an issuer or for a security. NAIC Designations may be notched up or down to reflect the position of a specific liability in the issuer’s capital structure and/or the existence of other non-payment risk in the specific security. Under NAIC reporting rules, shares of an ETF are presumed to be reportable as common stock. The SVO may classify an ETF as a bond or preferred stock and assign it an NAIC Designation if it meets defined criteria. For a discussion of these criteria please call the SVO or refer to the Purposes and Procedures Manual of the NAIC Securities Valuation Office. The assignment of an NAIC Designation is not a recommendation to purchase the ETF and is not intended to convey approval or endorsement of the ETF Sponsor or the ETF by the NAIC.

as of 05/03/2016

Quick Facts

  • Previous Close $28.61
  • Open $28.53
  • Today's High $28.60
  • Today's Low $28.48
  • Today's Volume 1,629,436
  • 52 Week High $28.85
  • 52 Week Low $26.50
  • Shares Outstanding 109.70MM
  • Market Value $3,134.3MM