PowerShares ETFs

PFEM - PowerShares Fundamental Emerging Markets Local Debt Portfolio

Fixed Income - International and Global Fixed Income

Product Details

The PowerShares Fundamental Emerging Markets Local Debt Portfolio (Fund) is based on the Citi RAFI Bonds Sovereign Emerging Markets Extended Local Currency Index (Index). The Fund generally will invest at least 80% of its total assets in the bonds issued by the national governments of emerging market countries that comprise the Index. The Index measures the performance of local currency bonds issued by the national governments from a set of emerging market countries. The Fund and the Index are reconstituted annually in October and rebalanced monthly.

as of 06/30/2015 06/30/2015

Performance


   
as of 06/30/2015 06/30/2015
  YTD 1 Year 3 Year 5 Year 10 Year Fund Inception
Index History (%)
Citi RAFI Bonds Sovereign Emerging Markets Extended Local Currency Index 0.55 -11.59 -1.17 N/A N/A -8.12
BofA ML Local Debt Markets Plus Index -3.91 -13.41 -1.95 1.65 N/A -8.73
Fund History (%)
Fund NAV -0.04 -11.84 N/A N/A N/A -8.79
After Tax Held -1.15 -13.09 N/A N/A N/A -9.53
After Tax Sold -0.02 -6.64 N/A N/A N/A -6.88
Fund Market Price -6.23 -12.63 N/A N/A N/A -9.18

Monthly Performance

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. Returns less than one year are cumulative.

Effective April 1, 2015, Citi RAFI Bonds Sovereign Emerging Markets Extended Local Currency Index data was recalculated by the index provider to account for revised treatment of Brazil, Chile and Israel bonds.


as of 06/30/2015

Growth of $10,000

Data beginning Fund inception and ending 06/30/2015. 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 The results assume that no cash was added to or assets withdrawn from the Index.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 08/25/2015

Top Country Allocation

Quality Allocations as of 08/25/2015

S&P Moody's
AA : 21% Aa : 15%
A : 30% A : 30%
BBB : 33% Baa : 38%
BB : 12% Ba : 16%
Not Rated : 4% Not Rated : 1%

as of 08/25/2015 Maturity

Years % of Fund
0 - 1 years 0.39
1 - 5 years 40.27
5 - 10 years 37.83
10 - 15 years 15.63
15 - 20 years 4.65
20 - 25 years 1.23
25 years and over 0.00

as of 08/25/2015Top Fixed-Income Holdings | View All

Holding Name Coupon Rate Maturity Date S&P / Moody's Rating† Weight
Korea Treasury Bond 4.25% 06/10/2021 AA-/Aa3 6.93%
Brazil Notas do Tesouro Nacional Serie F 10.00% 01/01/2021 BBB+/Baa3 5.13%
Chile Government International Bond 6.00% 01/01/2020 AA/Aa3 4.20%
Russian Federal Bond - OFZ 7.60% 07/20/2022 BBB-/Ba1 4.05%
Israel Government Bond - Fixed 5.50% 01/31/2022 A+/A1 4.00%
Indonesia Treasury Bond 11.00% 09/15/2025 BB+/Baa3 3.93%
Russian Federal Bond - OFZ 6.80% 12/11/2019 BBB-/Ba1 3.90%
Mexican Bonos 8.50% 05/31/2029 A/A3 3.82%
China Government Bond 2.56% 06/29/2017 AA-/Aa3 3.75%
South Africa Government Bond 10.50% 12/21/2026 BBB+/Baa2 3.04%

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
08/14/2015 08/18/2015 08/31/2015 0.06771 0.06771 - - -
07/15/2015 07/17/2015 07/31/2015 0.07364 0.07364 - - -
06/15/2015 06/17/2015 06/30/2015 0.08013 0.08013 - - -
05/15/2015 05/19/2015 05/29/2015 0.08000 0.08000 - - -
04/15/2015 04/17/2015 04/30/2015 0.07990 0.07990 - - -
03/13/2015 03/17/2015 03/31/2015 0.08208 0.08208 - - -
02/13/2015 02/18/2015 02/27/2015 0.08000 0.08000 - - -
01/15/2015 01/20/2015 01/30/2015 0.08177 0.08177 - - -
12/15/2014 12/17/2014 12/31/2014 0.07916 0.07916 - - -
11/14/2014 11/18/2014 11/28/2014 0.08346 0.08346 - - -
10/15/2014 10/17/2014 10/31/2014 0.08000 0.08000 - - -
09/15/2014 09/17/2014 09/30/2014 0.08000 0.08000 - - -
08/15/2014 08/19/2014 08/29/2014 0.08000 0.08000 - - -
07/15/2014 07/17/2014 07/31/2014 0.08000 0.08000 - - -
06/13/2014 06/17/2014 06/30/2014 0.07605 0.07605 - - -
05/15/2014 05/19/2014 05/30/2014 0.07800 0.07800 - - -
04/15/2014 04/17/2014 04/30/2014 0.07965 0.07965 - - -
03/14/2014 03/18/2014 03/31/2014 0.07915 0.07915 - - -
02/14/2014 02/19/2014 02/28/2014 0.08250 0.08250 - - -
01/15/2014 01/17/2014 01/31/2014 0.08250 0.08250 - - -
12/13/2013 12/17/2013 12/31/2013 0.08260 0.08260 - - -
11/15/2013 11/19/2013 11/29/2013 0.08456 0.08456 - - -
10/15/2013 10/17/2013 10/31/2013 0.09200 0.09200 - - -
09/13/2013 09/17/2013 09/30/2013 0.09200 0.09200 - - -
08/15/2013 08/19/2013 08/30/2013 0.09376 0.09376 - - -
07/15/2013 07/17/2013 07/31/2013 0.09100 0.09100 - - -
06/14/2013 06/18/2013 06/28/2013 0.09130 0.09130 - - -

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%
06/30/2015 63 14 0 0 8 0 0
03/31/2015 61 8 5 14 6 0 0
12/31/2014 64 20 12 22 0 0 0
09/30/2014 64 20 0 0 0 0 0
Year Ended 2014 252 49 19 22 11 0 0

Fund Inception: 05/09/2013

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. Due to anticipated Federal Reserve Board policy changes, there is a risk that interest rates 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.

Non-investment grade securities may be subject to greater price volatility due to specific corporate developments, interest-rate sensitivity, negative perceptions of the market, adverse economic and competitive industry conditions and decreased market liquidity.

The dollar value of foreign investments will be affected by changes in the exchange rates between the dollar and the currencies in which those investments are traded.

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.

The Fund currently intends to effect creations and redemptions principally for cash, rather than principally in-kind because of the nature of the Fund's investments. As such, investments in the Fund may be less tax efficient than investments in ETFs that create and redeem in-kind.

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.

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

The BofA Merrill Lynch Local Debt Markets Plus Index is designed to track the performance of sovereign debt publicly issued and denominated in the issuer's own domestic market and currency other than the more established top-tier sovereign markets.

Copyright © 2015, Citigroup Index LLC. All rights reserved. CITIGROUP and CIT are registered trademarks and service mark of Citigroup Inc. or its affiliates, are used and registered throughout the world, and are used under license for certain purposes by Invesco PowerShares Capital Management LLC. "Fundamental Index" and/or "Research Affiliates Fundamental Index" and/or "RAFI" and/or all other Research Affiliate trademarks, trade names, patented and patent-pending concepts are the exclusive property of Research Affiliates, LLC ("RA"). Reproduction of the Citi RAFI Sovereign Emerging Markets Extended Local Currency Index data and information ("Index Data") in any form is prohibited except with the prior written permission of Citigroup Index LLC ("Citi Index"). The PowerShares Fundamental Emerging Markets Local Debt Portfolio ("Fund") is not sponsored, endorsed, sold or promoted by Citi Index or RA, and Citi Index and RA make no representation regarding the advisability of investing in such fund. Citi Index and RA do not guarantee the accuracy, adequacy, completeness or availability of Index data and are not responsible for any errors or omissions or for the results obtained from the use of such Index Data. CITI AND RA GIVE NO EXPRESS OR IMPLIED WARRANTIES, INCLUDING, BUT NOT LIMITED TO, ANY WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE. In no event shall Citi Index or RA be liable for any direct, indirect, special or consequential or any other damages in connection with any use of the Index Data.

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 08/28/2015
1:28 PM EST

PFEM
Intraday Stats

  • Last Trade $17.08
  • Current IIV $17.09
  • Change $0.28
  • % Change 1.67%
as of 08/25/2015
  • NAV at market close $16.97
as of 08/25/2015

Fund Yield

  • SEC 30 Day Yield 5.42%
  • Distribution Rate 4.79%
  • 12 Month
    Distribution Rate
    5.59%
  • 30-Day SEC Unsubsidized Yield
    as of 08/21/2015
    5.35%
as of 08/28/2015

Prior Close

  • Closing Price $16.80
  • Bid/Ask Midpoint $16.97
  • Bid/Ask Prem/Disc -
  • Bid/Ask Prem/Disc -
as of 08/27/2015

Fund Characteristics

  • Effective Duration 4.55 yrs
  • Modified Duration 4.48 yrs
  • Yield to Maturity 6.11%
  • Yield to Worst 6.11%
  • Years to Maturity 6.34
  • Weighted Avg Coupon 6.44%
  • Weighted Avg Price
    as of 08/25/2015
    102.72
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 PFEM
  • CUSIP # 73936Q736
  • ISIN US73936Q7363
  • Intraday NAV PFEMIV
  • Index Ticker CCRFEMEU
  • Index Provider Citigroup Index LLC
  • Management Fee 0.50%
  • Total Expense Ratio 0.50%
  • Marginable Yes
  • Short Selling Yes
  • Options No
  • Exchange NYSE Arca.
  • Inception Date 05/09/2013
  • # of Holdings 44
    as of 08/25/2015
as of 08/28/2015

Quick Facts

  • Previous Close $16.80
  • Open $17.07
  • Today's High $17.08
  • Today's Low $17.02
  • Today's Volume 1,750
  • 52 Week High $22.19
  • 52 Week Low $16.78
  • Shares Outstanding .25MM
  • Market Value $4.2MM