PowerShares ETFs

PGHY - PowerShares Global Short Term High Yield Bond Portfolio

Fixed Income - International and Global Fixed Income

Product Details

The Global Short Term High Yield Bond Portfolio (Fund) is based on the DB Global Short Maturity High Yield Bond Index (Index). The Fund generally will invest at least 80% of its total assets in US and foreign short-term, non-investment grade bonds included in the Index, all of which are denominated in US dollars. The Fund does not purchase all of the securities in the Index; instead, the Fund utilizes a “sampling” methodology to seek to achieve its investment objective. The Fund and the Index are rebalanced quarterly and re-weighted annually.

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 (%)
DB Global Short Maturity High Yield Bond Index 3.38 0.08 N/A N/A N/A 3.65
BofA ML 0-5 Year US High Yield Constrained Index 2.32 -0.27 6.14 7.38 N/A 4.39
Fund History (%)
Fund NAV 3.12 -1.03 N/A N/A N/A 2.38
After Tax Held 2.13 -2.84 N/A N/A N/A 0.60
After Tax Sold 1.76 -0.59 N/A N/A N/A 1.01
Fund Market Price 2.95 -1.81 N/A N/A N/A 2.25

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 The results assume that no cash was added to or assets withdrawn from the Index.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.

as of 07/29/2015

Sector Allocation

as of 07/29/2015

Top Country Allocation

Quality Allocations as of 07/29/2015

S&P Moody's
BBB : 6% Baa : 6%
BB : 46% Ba : 43%
B : 27% B : 29%
CCC : 6% Caa : 12%
CC : 2% Ca : 2%
Not Rated : 13% Not Rated : 8%

as of 07/29/2015 Maturity

Years % of Fund
0 - 1 years 37.29
1 - 5 years 61.82
5 - 10 years 0.00
10 - 15 years 0.00
15 - 20 years 0.00
20 - 25 years 0.63
25 years and over 0.26

as of 07/29/2015Top Fixed-Income Holdings | View All

Holding Name Coupon Rate Maturity Date Next Call Date S&P / Moody's Rating† Weight
Lebanon Government International Bond 11.62% 05/11/2016 N/A B-/NR 1.52%
Vimpel Communications Via VIP Finance Ireland Ltd OJSC 6.49% 02/02/2016 N/A BB/Ba3 1.45%
Vedanta Resources PLC 6.75% 06/07/2016 N/A BB-/Ba3 1.44%
Export Credit Bank of Turkey 5.38% 11/04/2016 N/A BB+/Baa3 0.99%
City of Buenos Aires Argentina 9.95% 03/01/2017 N/A CCC-/Caa2 0.99%
VimpelCom Holdings BV 6.25% 03/01/2017 N/A BB/Ba3 0.99%
Halyk Savings Bank of Kazakhstan JSC 7.25% 05/03/2017 N/A BB+/Ba3 0.98%
State Oil Co of the Azerbaijan Republic 5.45% 02/09/2017 N/A BB+/Ba1 0.98%
General Motors Financial Co Inc 2.75% 05/15/2016 N/A BBB-/Ba1 0.96%
Jordan Government International Bond 3.88% 11/12/2015 N/A BB-/B1 0.96%

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 0.08945 0.08945 - - -
06/15/2015 06/17/2015 06/30/2015 0.08455 0.08455 - - -
05/15/2015 05/19/2015 05/29/2015 0.08601 0.08601 - - -
04/15/2015 04/17/2015 04/30/2015 0.08597 0.08597 - - -
03/13/2015 03/17/2015 03/31/2015 0.08926 0.08926 - - -
02/13/2015 02/18/2015 02/27/2015 0.08912 0.08912 - - -
01/15/2015 01/20/2015 01/30/2015 0.08608 0.08608 - - -
12/15/2014 12/17/2014 12/31/2014 0.08473 0.08473 - - -
11/14/2014 11/18/2014 11/28/2014 0.08435 0.08435 - - -
10/15/2014 10/17/2014 10/31/2014 0.08388 0.08388 - - -
09/15/2014 09/17/2014 09/30/2014 0.08500 0.08500 - - -
08/15/2014 08/19/2014 08/29/2014 0.08300 0.08300 - - -
07/15/2014 07/17/2014 07/31/2014 0.08800 0.08800 - - -
06/13/2014 06/17/2014 06/30/2014 0.08733 0.08733 - - -
05/15/2014 05/19/2014 05/30/2014 0.08803 0.08803 - - -
04/15/2014 04/17/2014 04/30/2014 0.08734 0.08734 - - -
03/14/2014 03/18/2014 03/31/2014 0.09000 0.09000 - - -
02/14/2014 02/19/2014 02/28/2014 0.08846 0.08846 - - -
01/15/2014 01/17/2014 01/31/2014 0.07713 0.07713 - - -
12/13/2013 12/17/2013 12/31/2013 0.08400 0.08400 - - -
11/15/2013 11/19/2013 11/29/2013 0.09440 0.09440 - - -
10/15/2013 10/17/2013 10/31/2013 0.09900 0.09900 - - -
09/13/2013 09/17/2013 09/30/2013 0.09900 0.09900 - - -
08/15/2013 08/19/2013 08/30/2013 0.09900 0.09900 - - -

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 0 0 0 9 0 0
03/31/2015 61 0 0 0 10 0 0
12/31/2014 64 2 0 0 1 0 0
09/30/2014 64 1 0 0 1 0 0
Year Ended 2014 252 8 0 0 2 0 0

Fund Inception: 06/20/2013

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.


Materials & Resources

 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 anticipated Federal Reserve Board policy changes, there is a risk that interest rates will rise in the near future.

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 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 will invest in bonds with short-term maturity (three years or less) which may have additional risks, including interest rate changes over the life of the bond. The average maturity of the Fund's investments will affect the volatility of the Fund's share price.

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 may invest in obligations issued or guaranteed by supranational entities. If one or more shareholders fails to make necessary additional capital contributions, the entity may be unable to pay interest or repay principal on its debt securities.

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

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 are subject to greater risk, and are more greatly impacted by market volatility, than more diversified investments.

The BofA ML 0-5 Year US High Yield Constrained Index is an unmanaged index comprised of US dollar-denominated, below investment-grade corporate debt securities publicly issued in the US domestic market with remaining maturities of less than five years.

The Global Industry Classification Standard was developed by and is the exclusive property and a service mark of MSCI, Inc. and Standard & Poor's.

"Deutsche Bank" and the DB Global Short Maturity High Yield Bond Index are reprinted with permission. © Copyright 2014 Deutsche Bank AG. All rights reserved. "Deutsche Bank" is a service mark of Deutsche Bank AG and has been licensed for use for certain purposes by the adviser. The Fund is not sponsored, endorsed, sold or promoted by Deutsche Bank AG or any of its affiliates of subsidiaries. Deutsche Bank AG and Deutsche Bank Securities Inc., as Index Provider, make no representation, express or implied, regarding the advisability of investing in this product. As the Index Provider, Deutsche Bank AG and Deutsche Bank Securities Inc. are licensing certain trademarks, the underlying Index and trade names which are composed by Deutsche Bank AG and Deutsche Bank Securities Inc. without regard to this Index, this product or any investor.

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 07/30/2015
3:52 PM EST

PGHY
Intraday Stats

  • Last Trade $23.64
  • Current IIV $23.06
  • Change -$0.05
  • % Change -0.21%
as of 07/30/2015
  • NAV at market close $23.54
as of 07/30/2015

Fund Yield

  • SEC 30 Day Yield 6.94%
  • Distribution Rate 4.56%
  • 12 Month
    Distribution Rate
    4.38%
  • 30-Day SEC Unsubsidized Yield
    as of 07/29/2015
    6.91%
as of 07/30/2015

Prior Close

  • Closing Price $23.69
  • Bid/Ask Midpoint $23.52
  • Bid/Ask Prem/Disc -$0.02
  • Bid/Ask Prem/Disc -0.08%
as of 07/24/2015

Fund Characteristics

  • Effective Duration 1.21 yrs
  • Modified Duration 1.20 yrs
  • Yield to Maturity 12.06%
  • Yield to Worst 12.00%
  • Years to Maturity 1.39
  • Weighted Avg Coupon 6.36%
  • Weighted Avg Price
    as of 07/30/2015
    97.75
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 PGHY
  • CUSIP # 73936Q 710
  • ISIN US73936Q7108
  • Intraday NAV PGHYIV
  • Index Ticker DBLQSTHY
  • Index Provider Deutsche Bank AG London
  • Management Fee 0.35%
  • Total Expense Ratio 0.35%
  • Marginable Yes
  • Short Selling Yes
  • Options No
  • Exchange NYSE Arca
  • Inception Date 06/20/2013
  • # of Holdings 200
    as of 07/29/2015
as of 07/30/2015

Quick Facts

  • Previous Close $23.69
  • Open $23.34
  • Today's High $23.64
  • Today's Low $23.34
  • Today's Volume 4,371
  • 52 Week High $24.69
  • 52 Week Low $23.00
  • Shares Outstanding 1.40MM
  • Market Value $33.0MM