PAGG - PowerShares Global Agriculture Portfolio
Equity-based resources - Commodity EquitiesProduct Details
The PowerShares Global Agriculture Portfolio (Fund) is based on the NASDAQ OMX Global Agriculture IndexSM (Index). The Fund will normally invest at least 90% of its total assets in securities that comprise the Index and American depositary receipts and global depositary receipts based on the securities in the Index. The Index is designed to measure the overall performance of the most liquid, globally traded companies involved in agriculture and farming-related activities. The Index is rebalanced quarterly using a modified, market-cap-weighted methodology. The Index is computed using the net return, which withholds applicable taxes for non-resident investors. The Fund and the Index are rebalanced quarterly and reconstituted annually with June's rebalance.
Performance
| as of 12/31/2014 12/31/2014 |
||||||
|---|---|---|---|---|---|---|
| YTD | 1 Year | 3 Year | 5 Year | 10 Year | Fund Inception | |
| Index History (%) | ||||||
| NASDAQ OMX Global Agriculture Index | 0.44 | 0.44 | 4.98 | 3.72 | N/A | 4.62 |
| Fund History (%) | ||||||
| Fund NAV | 0.10 | 0.10 | 4.73 | 3.36 | N/A | 4.07 |
| After Tax Held | -0.88 | -0.88 | 4.25 | 3.09 | N/A | 3.84 |
| After Tax Sold | 0.07 | 0.07 | 3.58 | 2.65 | N/A | 3.22 |
| Fund Market Price | -0.24 | -0.24 | 4.66 | 3.24 | N/A | 3.69 |
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.
Growth of $10,000
Data beginning Fund inception and ending 12/31/2014. 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 The results assume that no cash was added to or assets withdrawn from the Index.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.
Sector Allocation
Top Country Allocation
Market Cap & Style Allocations
| Large-Cap Value | 33.23% |
| Large-Cap Blend | 13.95% |
| Large-Cap Growth | 18.33% |
| Mid-Cap Value | 26.14% |
| Mid-Cap Blend | 3.25% |
| Mid-Cap Growth | - |
| Small-Cap Value | 0.35% |
| Small-Cap Blend | 1.96% |
| Small-Cap Growth | 2.78% |
as of 02/27/2015 Top Holdings | View All
Fund Holdings subject to change
| Ticker | Company | % of Fund |
|---|---|---|
| MOS | Mosaic Co/The | 9.36 |
| SYNN | Syngenta AG | 8.63 |
| POT | Potash Corp of Saskatchewan Inc | 8.38 |
| MON | Monsanto Co | 8.08 |
| ADM | Archer-Daniels-Midland Co | 7.31 |
| YAR | Yara International ASA | 5.23 |
| AGU | Agrium Inc | 4.80 |
| CF | CF Industries Holdings Inc | 4.59 |
| SDF | K+S AG | 4.32 |
| INGR | Ingredion Inc | 3.97 |
Distributions | View All | Distribution Information
| Ex-Date | Record Date | Pay Date | $/ Share |
Ordinary Income | Short Term Gains | Long Term Gains | Return of Capital |
|---|---|---|---|---|---|---|---|
| 12/19/2014 | 12/23/2014 | 12/31/2014 | 0.11158 | 0.11158 | - | - | - |
| 09/19/2014 | 09/23/2014 | 09/30/2014 | 0.11299 | 0.11299 | - | - | - |
| 06/20/2014 | 06/24/2014 | 06/30/2014 | 0.22447 | 0.22447 | - | - | - |
| 03/21/2014 | 03/25/2014 | 03/31/2014 | 0.24169 | 0.24169 | - | - | - |
| 12/20/2013 | 12/24/2013 | 12/31/2013 | 0.11113 | 0.11113 | - | - | - |
| 09/20/2013 | 09/24/2013 | 09/30/2013 | 0.19741 | 0.19741 | - | - | - |
| 06/21/2013 | 06/25/2013 | 06/28/2013 | 0.11713 | 0.11713 | - | - | - |
| 03/15/2013 | 03/19/2013 | 03/28/2013 | 0.06288 | 0.06288 | - | - | - |
| 12/21/2012 | 12/26/2012 | 12/31/2012 | 0.11341 | 0.11341 | - | - | - |
| 09/21/2012 | 09/25/2012 | 09/28/2012 | 0.01428 | 0.01428 | - | - | - |
| 06/15/2012 | 06/19/2012 | 06/29/2012 | 0.18789 | 0.18789 | - | - | - |
| 03/16/2012 | 03/20/2012 | 03/30/2012 | 0.02305 | 0.02305 | - | - | - |
| 12/16/2011 | 12/20/2011 | 12/30/2011 | 0.16794 | 0.16794 | - | - | - |
| 06/17/2011 | 06/21/2011 | 06/30/2011 | 0.03082 | 0.03082 | - | - | - |
| 12/17/2010 | 12/21/2010 | 12/31/2010 | 0.25399 | 0.25399 | - | - | - |
| 09/17/2010 | 09/21/2010 | 09/30/2010 | 0.04936 | 0.04936 | - | - | - |
| 12/18/2009 | 12/22/2009 | 12/31/2009 | 0.10460 | 0.10460 | - | - | - |
| 12/19/2008 | 12/23/2008 | 12/31/2008 | 0.00922 | 0.00922 | - | - | - |
Distribution Information
Fund Distributions
Dividends from net investment income, if any, are declared and paid either quarterly or monthly, depending on the Fund. For Funds on a quarterly dividend payment cycle, the dividend ex-date is generally the third Friday of each March, June, September and December, payable the last business day of the month. For Funds on a monthly dividend payment cycle, the dividend ex-date is generally the 15th of each month, payable the last business day of the month.
The fund distributes its net realized capital gains, if any, to shareholders annually. Prior to paying a distribution of net investment income, the fund has the ability to invest cash generated from investment income into additional securities or money market instruments.
Distributions in cash may be reinvested automatically in additional whole shares of the fund only if the broker through whom you purchased shares makes such option available. Shareholders of the fund may contact their broker to determine the availability and costs of the service and the details of participation. Brokers may require shareholders to adhere to specific procedures and timetables. If this service is available and used, dividend distributions of both income and realized gains will be automatically reinvested in additional whole shares of the fund purchased in the secondary market.
Taxes on DistributionsIn general, your distributions are subject to federal income tax when they are paid, whether you take them in cash or reinvest them in the Fund. Dividends paid out of the Fund’s income and net short-term gains, if any, are taxable as ordinary income. Distributions of net long-term capital gains, if any, in excess of net short-term capital losses are taxable as long-term capital gains, regardless of how long you have held the Shares. Dividends from net investment income, if any, are declared and paid quarterly. The Fund may also pay a special distribution at the end of the calendar year to comply with federal tax requirements.
Under the provisions of the Jobs and Growth Tax Relief Reconciliation Act of 2003 (the “2003 Tax Act”), long-term capital gains tax rates have generally been reduced for individuals to a maximum of 15% for taxable years beginning before January 1, 2009. In addition, some ordinary dividends declared and paid by the Fund to individual shareholders may qualify for taxation at the lower reduced tax rates applicable to long-term capital gains, provided that holding period and other requirements are met by the Fund and the shareholder.
Distributions in excess of the Fund’s current and accumulated earnings and profits are treated as a tax-free return of capital to the extent of your basis in the Shares, and as capital gain thereafter. A distribution will reduce the Fund’s net asset value per Share and may be taxable to you as ordinary income or capital gain even though, from an investment standpoint, the distribution may constitute a return of capital.
By law, the Fund must withhold a percentage of your distributions and proceeds if you have not provided a taxpayer identification number or social security number. The backup withholding rate is currently 28%.
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% |
| 12/31/2014 | 64 | 0 | 0 | 0 | 13 | 1 | 0 |
| 09/30/2014 | 64 | 0 | 0 | 0 | 1 | 0 | 0 |
| 06/30/2014 | 63 | 0 | 0 | 0 | 1 | 0 | 0 |
| 03/31/2014 | 61 | 0 | 0 | 0 | 9 | 1 | 0 |
| Year Ended 2014 | 252 | 0 | 0 | 0 | 24 | 2 | 0 |
Fund Inception: 09/18/2008
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
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.
The Fund is considered non-diversified and may be subject to greater risks than a diversified fund.
American Depositary Receipts (ADRs) involve many of the same risks as those associated with direct investment in foreign securities. In addition, the underlying issuers of certain depositary receipts, particularly unsponsored or unregistered depositary receipts, are under no obligation to distribute shareholder communications to the holders of such receipts or to pass through to them any voting rights with respect to the deposited securities.
The dollar value of the fund's foreign investments will be affected by changes in the exchange rates between the dollar and the currencies in which those investments are traded.
Global Depositary Receipts involve the same risks as those associated with ADRs. They are also subject to currency, political, economic and market risks because their values depend on the performance of non-dollar denominated underlying foreign securities.
A natural or other disaster could occur in a geographic region in which the Fund invests, which could adversely impact the Fund's investments in the affected region.
Investment in securities in emerging market countries involves risks not associated with investments in securities in developed countries.
Foreign securities have additional risks, including exchange-rate changes, decreased market liquidity, political instability and taxation by foreign governments.
Investing in securities of small and medium-sized companies may involve greater risk than is customarily associated with investing in large companies.
Investments focused in a particular industry or sector, such as the agriculture industry are subject to greater risk, and are more greatly impacted by market volatility, than more diversified investments.
Equity risk is the risk that the value of equity securities, including common stocks, may fall due to both changes in general economic and political conditions that impact the market as a whole, as well as factors that directly relate to a specific company or its industry.
Since publicly traded limited partnerships are a less common form of organizational structure than corporations, limited partnership units may be less liquid than publicly traded common stock.
Tracking stock may decline in value even if the common stock of the larger company increases in value.
The Global Industry Classification Standard was developed by and is the exclusive property and a service mark of MSCI, Inc. and Standard & Poor's.
NASDAQ®, OMX™ and NASDAQ OMX Global Agriculture IndexSM are trade/service marks of The NASDAQ OMX Group, Inc. (which with its affiliates is referred to as the "Corporations") and are licensed for use by Invesco PowerShares. The Product has not been passed on by the Corporations as to its legality or suitability. The Product is not issued, endorsed, sold, or promoted by the Corporations. The Corporations make no warranties and bear no liability with respect to the product.
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