PowerShares ETFs

DSUM - PowerShares Chinese Yuan Dim Sum Bond Portfolio

Fixed Income - International and Global Fixed Income

Product Details

The PowerShares Chinese Yuan Dim Sum Bond Portfolio (Fund) seeks investment results that generally correspond (before fees and expenses) to the price and yield performance of the Citi Custom Dim Sum (Offshore CNY) Bond Index (the “Underlying Index”). The Fund normally will invest at least 80% of its total assets in Chinese Renminbi (RMB)-denominated bonds that comprise the Underlying Index. To qualify for the underlying index, a security must have an outstanding principal amount of RMB 1 billion, a minimum of one year to maturity to enter the index and one month to maturity to remain in the index. The Underlying Index is composed of RMB-denominated bonds issued by governments, agencies, supranationals and corporations, excluding synthetics, convertible bonds, retail bonds and CDs. The Fund and the Index are rebalanced and reconstituted 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 Custom Dim Sum (Offshore CNY) Bond Index 2.89 3.92 4.97 N/A N/A 4.97
BofA Merrill Lynch Global Broad Market Non-Sovereign ex-USD Index -6.51 -13.97 -0.93 2.33 3.25 -0.57
Fund History (%)
Fund NAV 2.39 2.84 4.53 N/A N/A 4.18
After Tax Held 1.69 1.51 3.18 N/A N/A 2.89
After Tax Sold 1.34 1.60 2.88 N/A N/A 2.65
Fund Market Price 3.40 3.68 4.57 N/A N/A 3.20

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. 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 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.

Quality Allocations as of 07/28/2015

S&P Moody's
AAA : 4% Aaa : 3%
AA : 31% Aa : 28%
A : 15% A : 10%
BBB : 8% Baa : 10%
BB : 1% Ba : 6%
B : 3% B : 2%
Not Rated : 39% Not Rated : 42%

as of 07/28/2015 Maturity

Years % of Fund
0 - 1 years 36.47
1 - 5 years 51.82
5 - 10 years 9.30
10 - 15 years 2.41
15 - 20 years 0.00
20 - 25 years 0.00
25 years and over 0.00

as of 07/28/2015Top Fixed-Income Holdings | View All

Holding Name Coupon Rate Maturity Date Next Call Date S&P / Moody's Rating† Weight
China Government Bond 3.09% 11/22/2018 N/A AA-/Aa3 3.95%
Banco BTG Pactual SA/Cayman Islands 4.10% 03/26/2016 N/A NR/Baa3 3.09%
China Government Bond 3.10% 06/29/2022 N/A AA-/Aa3 2.43%
China Government Bond 2.48% 12/01/2020 N/A AA-/Aa3 2.02%
Central Plaza Development Ltd 7.60% 11/29/2015 N/A NR/Ba3 1.97%
China Government Bond 3.09% 06/29/2020 N/A AA-/Aa3 1.96%
China Government Bond 2.60% 11/22/2016 N/A AA-/Aa3 1.95%
Eastern Air Overseas Hong Kong Corp Ltd 3.88% 06/05/2016 N/A NA/NA 1.95%
Standard Chartered PLC 2.62% 05/31/2016 N/A A-/Aa3 1.94%
Bank of Tokyo-Mitsubishi UFJ China Ltd 3.05% 05/26/2017 N/A A+/NA 1.93%

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
07/15/2015 07/17/2015 07/31/2015 0.06411 0.06411 - - -
06/15/2015 06/17/2015 06/30/2015 0.06133 0.06133 - - -
05/15/2015 05/19/2015 05/29/2015 0.06340 0.06340 - - -
04/15/2015 04/17/2015 04/30/2015 0.06664 0.06664 - - -
03/13/2015 03/17/2015 03/31/2015 0.06314 0.06314 - - -
02/13/2015 02/18/2015 02/27/2015 0.06552 0.06552 - - -
01/15/2015 01/20/2015 01/30/2015 0.06710 0.06710 - - -
12/15/2014 12/17/2014 12/31/2014 0.06756 0.06756 - - -
11/14/2014 11/18/2014 11/28/2014 0.06986 0.06986 - - -
10/15/2014 10/17/2014 10/31/2014 0.06224 0.06224 - - -
09/15/2014 09/17/2014 09/30/2014 0.06366 0.06366 - - -
08/15/2014 08/19/2014 08/29/2014 0.06467 0.06467 - - -
07/15/2014 07/17/2014 07/31/2014 0.06497 0.06497 - - -
06/13/2014 06/17/2014 06/30/2014 0.06545 0.06545 - - -
05/15/2014 05/19/2014 05/30/2014 0.06725 0.06725 - - -
04/15/2014 04/17/2014 04/30/2014 0.06858 0.06858 - - -
03/14/2014 03/18/2014 03/31/2014 0.06840 0.06840 - - -
02/14/2014 02/19/2014 02/28/2014 0.06925 0.06925 - - -
01/15/2014 01/17/2014 01/31/2014 0.07080 0.07080 - - -
12/13/2013 12/17/2013 12/31/2013 0.07000 0.07000 - - -
11/15/2013 11/19/2013 11/29/2013 0.06942 0.06942 - - -
10/15/2013 10/17/2013 10/31/2013 0.06260 0.06260 - - -
09/13/2013 09/17/2013 09/30/2013 0.06227 0.06227 - - -
08/15/2013 08/19/2013 08/30/2013 0.07300 0.07300 - - -
07/15/2013 07/17/2013 07/31/2013 0.07222 0.07222 - - -
06/14/2013 06/18/2013 06/28/2013 0.07155 0.07155 - - -
05/15/2013 05/17/2013 05/31/2013 0.07142 0.07142 - - -
04/15/2013 04/17/2013 04/30/2013 0.06764 0.06764 - - -
03/15/2013 03/19/2013 03/28/2013 0.06543 0.06543 - - -
02/15/2013 02/20/2013 02/28/2013 0.06712 0.06712 - - -
01/15/2013 01/17/2013 01/31/2013 0.06919 0.06919 - - -
12/14/2012 12/18/2012 12/31/2012 0.06815 0.06815 - - -
11/15/2012 11/19/2012 11/30/2012 0.06744 0.06744 - - -
10/15/2012 10/17/2012 10/31/2012 0.06638 0.06638 - - -
09/14/2012 09/18/2012 09/28/2012 0.06161 0.06161 - - -
08/15/2012 08/17/2012 08/31/2012 0.06416 0.06416 - - -
07/13/2012 07/17/2012 07/31/2012 0.06379 0.06379 - - -
06/15/2012 06/19/2012 06/29/2012 0.06372 0.06372 - - -
05/15/2012 05/17/2012 05/31/2012 0.06208 0.06208 - - -
04/13/2012 04/17/2012 04/30/2012 0.06408 0.06408 - - -
03/15/2012 03/19/2012 03/30/2012 0.07408 0.07408 - - -
02/15/2012 02/17/2012 02/29/2012 0.06590 0.06590 - - -
01/13/2012 01/18/2012 01/31/2012 0.06683 0.06683 - - -
12/15/2011 12/19/2011 12/30/2011 0.06500 0.06500 - - -
11/15/2011 11/17/2011 11/30/2011 0.10956 0.10956 - - -

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 26 0 0 18 0 0
03/31/2015 61 0 0 0 38 3 0
12/31/2014 64 0 0 0 43 2 0
09/30/2014 64 13 0 0 0 0 0
Year Ended 2014 252 41 1 0 98 2 0

Fund Inception: 09/23/2011

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.

The values of securities designed to provide exposure to Chinese RMB, such as RMB-denominated bonds, may change quickly and arbitrarily, potentially impacting the availability, liquidity, and pricing of securities designed to provide offshore investors with exposure to Chinese markets. The Chinese government maintains strict currency controls and regularly intervenes in the currency market.

Adverse economic conditions, such as unfavorable or volatile currency exchange rates and interest rates, political events or other conditions may cause the Chinese government to intervene and impose "capital controls," including the prohibition of, or restrictions on, the ability to transfer currency, securities or other assets.

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 invests at least 80% of its assets in Chinese RMB-denominated bonds issued and settled outside of mainland China. If the currency of the non-US market in which the Fund invests depreciates against the US dollar, the fund's NAV could decline, even if the value of the Fund's holdings increases. If the Chinese currencies (the RMB, traded in mainland China, and the Yuan, traded offshore as "CNH" in Hong Kong), diverge in value, that divergence could negatively impact the Fund.

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.

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.

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 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.

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 Global Broad Market Non-Sovereign ex-USD Index tracks the performance of investment grade debt publicly issued in the major domestic and eurobond markets.

Copyright © 2015, Citigroup Index LLC. All rights reserved. CITIGROUP is a registered trademark and service mark of Citigroup Inc. or its affiliates, is used and registered throughout the world, and is used under license for certain purposes by Invesco PowerShares Capital Management LLC. Reproduction of the Citigroup data and information in any form is prohibited except with the prior written permission of Citigroup Index LLC ("Citigroup"). The PowerShares Chinese Yuan Dim Sum Bond Portfolio is not sponsored, endorsed, sold or promoted by Citigroup, and Citigroup makes no representation regarding the advisability of investing in such fund. Because of the possibility of human or mechanical error, Citigroup does not guarantee the accuracy, adequacy, completeness or availability of any data and information and is not responsible for any errors or omissions or for the results obtained from the use of such data and information. CITIGROUP GIVES 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 Citigroup be liable for any direct, indirect, special or consequential damages in connection with any use of the Citigroup data and information.

as of 07/29/2015
11:25 AM EST

DSUM
Intraday Stats

  • Last Trade $24.54
  • Current IIV $24.60
  • Change $0.11
  • % Change 0.45%
as of 07/28/2015
  • NAV at market close $24.62
as of 07/28/2015

Fund Yield

  • SEC 30 Day Yield 3.62%
  • Distribution Yield 3.12%
  • 12 Month Yield 3.16%
  • 30-Day SEC Unsubsidized Yield
    as of 07/28/2015
    3.61%
as of 07/28/2015

Prior Close

  • Closing Price $24.43
  • Bid/Ask Midpoint $24.45
  • Bid/Ask Prem/Disc -$0.17
  • Bid/Ask Prem/Disc -0.69%
as of 07/24/2015

Fund Characteristics

  • Effective Duration 2.08 yrs
  • Modified Duration 2.07 yrs
  • Yield to Maturity 4.36%
  • Yield to Worst 4.36%
  • Years to Maturity 2.31
  • Weighted Avg Coupon 3.62%
  • Weighted Avg Price
    as of 07/28/2015
    99.42
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 DSUM
  • CUSIP # 73937B753
  • ISIN US73937B7534
  • Intraday NAV DSUMIV
  • Index Ticker CCDSBIU
  • Index Provider Citigroup Index LLC
  • Management Fee 0.45%
  • Total Expense Ratio 0.45%
  • Marginable Yes
  • Short Selling Yes
  • Options No
  • Exchange NYSE Arca
  • Inception Date 09/23/2011
  • # of Holdings 89
    as of 07/28/2015
as of 07/29/2015

Quick Facts

  • Previous Close $24.43
  • Open $24.48
  • Today's High $24.58
  • Today's Low $24.44
  • Today's Volume 18,631
  • 52 Week High $25.25
  • 52 Week Low $23.52
  • Shares Outstanding 5.10MM
  • Market Value $125.5MM