Exchange-Traded Funds (ETFs)

PGF - PowerShares Financial Preferred Portfolio

Income - Hybrid Income

Product Details

The PowerShares Financial Preferred Portfolio (Fund) is based on the Wells Fargo® Hybrid and Preferred Securities Financial Index (WHPSF Index). The Fund generally will invest at least 90% of its total assets in preferred securities of financial institutions that comprise the Index. The Index is a market capitalization weighted index designed to track the performance of preferred securities traded in the US market by financial institutions. The Index is composed of preferred securities with either fixed or floating rate dividends issued by financial institutions that have received an industrial sector classification of "financial" from the Bloomberg Professional Service. The Fund and the Index are rebalanced and reconstituted monthly.

Effective March 31, 2014, the methodology of the Wells Fargo® Hybrid & Preferred Securities Financial Index, the underlying index of the PowerShares Financial Preferred Portfolio, changed. Please see the prospectus for further details.

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 (%)
WHPSF Index 6.25 2.19 6.73 23.72 N/A 4.01
S&P U.S. Preferred Stock Index 6.94 3.51 6.58 20.92 N/A 4.39
S&P 500 Index 1.81 21.86 14.66 21.16 7.42 6.35
Fund History (%)
Fund NAV 6.23 2.37 6.08 22.13 N/A 2.90
After Tax Held 5.51 0.54 4.67 20.59 N/A 1.61
After Tax Sold 3.51 2.20 4.81 18.40 N/A 2.39
Fund Market Price 6.60 2.38 6.11 21.91 N/A 2.80

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. 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.


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.

Quality Allocations as of 04/23/2014

S&P Moody's
A : 2% A : 0%
BBB : 69% Baa : 50%
BB : 26% Ba : 40%
B : 2% B : 7%
CCC : 0% Caa : 2%
Not Rated : 0% Not Rated : 1%

as of 04/23/2014Top Fixed-Income Holdings | View All

Holding Name Coupon Rate Maturity Date Next Call Date S&P / Moody's Rating† Weight
HSBC Holdings PLC 8.00% 12/31/2049 12/15/2015 BBB+/Baa2 7.89%
BARCLAYS BANK PLC 8.12% 12/31/2049 06/15/2014 BBB-/Ba2 4.28%
ING Groep NV 7.38% 12/31/2049 07/15/2014 BBB-/Ba1 4.12%
HSBC Holdings PLC 8.12% 12/31/2049 05/22/2014 BBB+/Baa2 3.64%
Wells Fargo & Co 8.00% 12/31/2049 12/15/2017 BBB+/Baa3 3.59%
PNC Financial Services Group Inc/The 6.12% 12/31/2049 05/01/2022 BBB/Baa3 3.19%
BB&T Corp 5.62% 12/31/2049 08/01/2017 BBB/Baa2 2.90%
MetLife Inc 6.50% 12/31/2049 05/22/2014 BBB-/Baa2 2.38%
ING Groep NV 6.38% 12/31/2049 06/15/2014 BBB-/Ba1 2.36%
Royal Bank of Scotland Group PLC 7.25% 12/31/2049 05/23/2014 BB/B2 2.34%

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
04/15/2014 04/17/2014 04/30/2014 0.09000 0.09000 - - -
03/14/2014 03/18/2014 03/31/2014 0.09064 0.09064 - - -
02/14/2014 02/19/2014 02/28/2014 0.09060 0.09060 - - -
01/15/2014 01/17/2014 01/31/2014 0.09058 0.09058 - - -
12/13/2013 12/17/2013 12/31/2013 0.09500 0.09500 - - -
11/15/2013 11/19/2013 11/29/2013 0.09138 0.09138 - - -
10/15/2013 10/17/2013 10/31/2013 0.09000 0.09000 - - -
09/13/2013 09/17/2013 09/30/2013 0.09600 0.09600 - - -
08/15/2013 08/19/2013 08/30/2013 0.09230 0.09230 - - -
07/15/2013 07/17/2013 07/31/2013 0.09300 0.09300 - - -
06/14/2013 06/18/2013 06/28/2013 0.09202 0.09202 - - -
05/15/2013 05/17/2013 05/31/2013 0.09224 0.09224 - - -
04/15/2013 04/17/2013 04/30/2013 0.09500 0.09500 - - -
03/15/2013 03/19/2013 03/28/2013 0.09707 0.09707 - - -
02/15/2013 02/20/2013 02/28/2013 0.09508 0.09508 - - -
01/15/2013 01/17/2013 01/31/2013 0.09536 0.09536 - - -
12/14/2012 12/18/2012 12/31/2012 0.11570 0.11570 - - -
11/15/2012 11/19/2012 11/30/2012 0.09869 0.09869 - - -
10/15/2012 10/17/2012 10/31/2012 0.09078 0.09078 - - -
09/14/2012 09/18/2012 09/28/2012 0.09020 0.09020 - - -
08/15/2012 08/17/2012 08/31/2012 0.09032 0.09032 - - -
07/13/2012 07/17/2012 07/31/2012 0.09550 0.09550 - - -
06/15/2012 06/19/2012 06/29/2012 0.09600 0.09600 - - -
05/15/2012 05/17/2012 05/31/2012 0.09500 0.09500 - - -
04/13/2012 04/17/2012 04/30/2012 0.09630 0.09630 - - -
03/15/2012 03/19/2012 03/30/2012 0.09598 0.09598 - - -
02/15/2012 02/17/2012 02/29/2012 0.09725 0.09725 - - -
01/13/2012 01/18/2012 01/31/2012 0.09875 0.09875 - - -
12/15/2011 12/19/2011 12/30/2011 0.15447 0.15447 - - -
11/15/2011 11/17/2011 11/30/2011 0.09401 0.09401 - - -
10/14/2011 10/18/2011 10/31/2011 0.09541 0.09541 - - -
09/15/2011 09/19/2011 09/30/2011 0.09491 0.09491 - - -
08/15/2011 08/17/2011 08/31/2011 0.09650 0.09650 - - -
07/15/2011 07/19/2011 07/29/2011 0.09658 0.09658 - - -
06/15/2011 06/17/2011 06/30/2011 0.09956 0.09956 - - -
05/13/2011 05/17/2011 05/31/2011 0.09832 0.09832 - - -
04/15/2011 04/19/2011 04/29/2011 0.09827 0.09827 - - -
03/15/2011 03/17/2011 03/31/2011 0.10520 0.10520 - - -
02/15/2011 02/17/2011 02/28/2011 0.09845 0.09845 - - -
01/14/2011 01/19/2011 01/31/2011 0.09932 0.09932 - - -
12/15/2010 12/17/2010 12/31/2010 0.14199 0.14199 - - -
11/15/2010 11/17/2010 11/30/2010 0.10519 0.10519 - - -
10/15/2010 10/19/2010 10/29/2010 0.10599 0.10599 - - -
09/15/2010 09/17/2010 09/30/2010 0.10580 0.10580 - - -
08/13/2010 08/17/2010 08/31/2010 0.10295 0.10295 - - -
07/15/2010 07/19/2010 07/30/2010 0.09502 0.09502 - - -
06/15/2010 06/17/2010 06/30/2010 0.09935 0.09935 - - -
05/14/2010 05/18/2010 05/28/2010 0.09686 0.09686 - - -
04/15/2010 04/19/2010 04/30/2010 0.09856 0.09856 - - -
03/15/2010 03/17/2010 03/31/2010 0.10682 0.10682 - - -
02/12/2010 02/17/2010 02/26/2010 0.09690 0.09690 - - -
01/15/2010 01/20/2010 01/29/2010 0.09261 0.09261 - - -
12/15/2009 12/17/2009 12/31/2009 0.18735 0.18735 - - -
11/13/2009 11/17/2009 11/30/2009 0.09537 0.09537 - - -
10/15/2009 10/19/2009 10/30/2009 0.11220 0.11220 - - -
09/15/2009 09/17/2009 09/30/2009 0.12036 0.12036 - - -
08/14/2009 08/18/2009 08/31/2009 0.11242 0.11242 - - -
07/15/2009 07/17/2009 07/31/2009 0.11224 0.11224 - - -
06/15/2009 06/17/2009 06/30/2009 0.11039 0.11039 - - -
05/15/2009 05/19/2009 05/29/2009 0.11249 0.11249 - - -
04/15/2009 04/17/2009 04/30/2009 0.11404 0.11404 - - -
03/13/2009 03/17/2009 03/31/2009 0.12237 0.12237 - - -
02/13/2009 02/18/2009 02/27/2009 0.11817 0.11817 - - -
01/15/2009 01/20/2009 01/30/2009 0.11614 0.11614 - - -
12/15/2008 12/17/2008 12/31/2008 0.15366 0.15366 - - -
11/14/2008 11/18/2008 11/28/2008 0.12700 0.12700 - - -
10/15/2008 10/17/2008 10/31/2008 0.10796 0.10796 - - -
09/15/2008 09/17/2008 09/30/2008 0.12741 0.12741 - - -
08/15/2008 08/19/2008 08/29/2008 0.12672 0.12672 - - -
07/15/2008 07/17/2008 07/31/2008 0.12379 0.12379 - - -
06/13/2008 06/17/2008 06/30/2008 0.12115 0.12115 - - -
05/15/2008 05/19/2008 05/30/2008 0.12015 0.12015 - - -
04/15/2008 04/17/2008 04/30/2008 0.12384 0.12384 - - -
03/14/2008 03/18/2008 03/31/2008 0.12397 0.12397 - - -
02/15/2008 02/19/2008 02/29/2008 0.12405 0.12405 - - -
01/15/2008 01/17/2008 01/31/2008 0.12478 0.12478 - - -
12/14/2007 12/18/2007 12/31/2007 0.18870 0.18870 - - -
11/15/2007 11/19/2007 11/30/2007 0.11423 0.11423 - - -
10/15/2007 10/17/2007 10/31/2007 0.08669 0.08669 - - -
09/14/2007 09/18/2007 09/28/2007 0.11516 0.11516 - - -
08/15/2007 08/17/2007 08/31/2007 0.11319 0.11319 - - -
07/13/2007 07/17/2007 07/31/2007 0.11325 0.11325 - - -
06/15/2007 06/19/2007 06/29/2007 0.11307 0.11307 - - -
05/15/2007 05/17/2007 05/31/2007 0.11540 0.11540 - - -
04/13/2007 04/17/2007 04/30/2007 0.11205 0.11205 - - -
03/15/2007 03/19/2007 03/30/2007 0.11020 0.11020 - - -
02/15/2007 02/20/2007 02/28/2007 0.11250 0.11250 - - -
01/12/2007 01/16/2007 01/31/2007 0.11260 0.11260 - - -
12/15/2006 12/19/2006 12/29/2006 0.18568 0.18568 - - -

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 0 0
12/31/2013 64 0 0 0 1 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 1 0 0

Fund Inception: 12/01/2006

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 considered non-diversified and may be subject to greater risks than a diversified fund.

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.

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.

Certain of the companies that comprise the Underlying Index, while traded on U.S. exchanges, may be issued by foreign financial institutions. Therefore, the Fund may be subject to the risks of investing in securities issued by foreign companies.

High-yield securities have additional risks, including interest-rate changes, decreased market liquidity and a larger amount of outstanding debt than investment grade securities.

Preferred securities may be less liquid than many other securities, and in certain circumstances, an issuer of preferred securities may redeem the securities prior to a specified date.

Securities lending involves a risk of loss because the borrower may fail to return the securities in a timely manner or at all. If a Fund is unable to recover the securities loaned, it may sell the collateral and purchase a replacement security in the market. Lending securities entails a risk of loss to the Funds if and to the extent that the market value of the loaned securities increases and the collateral is not increased accordingly.

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

Variable and floating-rate securities may be subject to liquidity risk, meaning that there may be limitations on the Fund's ability to sell the securities at any given time. Due to their variable or floating-rate features, these securities generally will pay higher levels of income in a rising interest rate environment; however, there can be no guarantee that a dividend paid by a floating-rate security will increase as interest rates rise.

The S&P Preferred Index is an unmanaged index consisting of U.S.-listed preferred stocks. The S&P 500® Index is an unmanaged index considered representative of the U.S. stock market.

The Fund is not sponsored, issued or advised by Wells Fargo. Wells Fargo makes no representation or warranty, express or implied, to Fund investors or any member of the public regarding the performance of the Fund's Index or this Fund or the ability of any data supplied by Wells Fargo to track the performance of the securities referenced by the Fund's Index. Wells Fargo’s only relationship to the Adviser is the licensing of certain trademarks and trade names of Wells Fargo and of the data supplied by Wells Fargo that is determined, composed and calculated by Wells Fargo without regard to this Fund or its common shares. Wells Fargo has no obligation to take the needs of the Fund into consideration when determining, composing or calculating the data. Wells Fargo has no obligation or liability in connection with the administration, marketing or trading of this Fund.

as of 04/24/2014
12:45 PM EST

PGF

  • Last Trade $17.84
  • Current IIV $17.83
  • Change -$0.01
  • % Change -0.06%
as of 04/23/2014
  • NAV at market close $17.82
as of 04/23/2014

Yield

  • SEC 30 Day Yield 6.17%
  • Distribution Yield 6.06%
  • 12 Month Yield 6.19%
  • 30-Day SEC Unsubsidized Yield
    as of 04/23/2014
    N/A
as of 04/23/2014

Closing

  • Closing Price $17.85
  • Bid/Ask Midpoint $17.84
  • Bid/Ask Prem/Disc $0.02
  • Bid/Ask Prem/Disc 0.11%
as of 04/17/2014

Fund Characteristics

  • Effective Duration 5.77 yrs
  • Yield to Maturity 6.49%
  • Yield to Worst 6.51%
  • Weighted Avg Coupon 6.33%

Fund Details

  • Fund Ticker PGF
  • CUSIP # 73935X229
  • ISIN US73935X2291
  • Intraday NAV PGFIV
  • Index Ticker WHPSF
  • Index Provider Wells Fargo & Company
  • Management Fee 0.50%
  • Total Expense Ratio 0.64%
  • Marginable Yes
  • Short Selling Yes
  • Options Yes
  • Exchange NYSE Arca
  • Inception Date 12/01/2006
  • # of Holdings 76
    as of 04/23/2014
as of 04/24/2014

Quick Facts

  • Previous Close $17.85
  • Open $17.82
  • Today's High $17.85
  • Today's Low $17.81
  • Today's Volume 89,656
  • 52 Week High $18.85
  • 52 Week Low $16.68
  • Shares Outstanding 79.80MM
  • Market Value $1,422.3MM