PowerShares ETFs

PGX - PowerShares Preferred Portfolio

Equity - US Equity

Product Details

The PowerShares Preferred Portfolio is based on The BofA Merrill Lynch Core Plus Fixed Rate Preferred Securities Index. The Fund will normally invest at least 80% of its total assets in fixed rate US dollar-denominated preferred securities that comprise the Index. The Index tracks the performance of fixed rate US dollar-denominated preferred securities issued in the US domestic market. (Securities must be rated at least B3, based on an average of three leading ratings agencies: Moody’s, S&P and Fitch) and must have an investment-grade country risk profile (based on an average of Moody’s, S&P and Fitch foreign currency long-term sovereign debt ratings). The Fund and the Index are rebalanced and reconstituted on a monthly basis.

as of 03/31/2015 03/31/2015

Performance


   
as of 03/31/2015 03/31/2015
  YTD 1 Year 3 Year 5 Year 10 Year Fund Inception
Index History (%)
BofA Merrill Lynch Core Plus Fixed Rate Preferred Securities Index 3.31 11.52 8.22 N/A N/A N/A
S&P U.S. Preferred Stock Index 2.96 9.83 8.08 8.15 N/A 6.12
Fund History (%)
Fund NAV 3.16 11.06 7.86 8.07 N/A 2.93
After Tax Held 2.50 8.90 5.91 6.21 N/A 1.02
After Tax Sold 1.78 6.87 5.59 5.90 N/A 1.73
Fund Market Price 3.01 11.05 7.81 8.10 N/A 2.73

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 03/31/2015

Growth of $10,000

Data beginning Fund inception and ending 03/31/2015. Fund performance shown at NAV.

The BofA Merrill Lynch Core Plus Fixed Rate Preferred Securities Index* performance prior to 4/2/2012 reflects that of the original Underlying Index The BofA Merrill Lynch Core Fixed Rate Preferred Securities Index. From 4/2/2012, forward, the Index performance reflects that of the Underlying Index The BofA Merrill Lynch Core Plus Fixed Rate Preferred Securities Index AND IS NOT INTENDED FOR ANY THIRD PARTY USE.

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 05/22/2015

Sector Allocation

Quality Allocations as of 05/22/2015

S&P Moody's
AA : 2% Aa : 0%
A : 3% A : 8%
BBB : 50% Baa : 45%
BB : 37% Ba : 36%
B : 8% B : 8%
CCC : 0% Caa : 0%
Not Rated : 1% Not Rated : 3%

as of 05/22/2015 Maturity

Years % of Fund
0 - 1 years 72.74
1 - 5 years 0.00
5 - 10 years 0.07
10 - 15 years 0.00
15 - 20 years 0.00
20 - 25 years 3.75
25 years and over 23.45

as of 05/22/2015Top Fixed-Income Holdings | View All

Holding Name Coupon Rate Maturity Date Next Call Date S&P / Moody's Rating† Weight
Barclays Bank PLC 8.12% 09/15/2015 BB/Ba2 3.88%
HSBC Holdings PLC 8.00% 12/15/2015 BBB-/Baa2 2.88%
Wells Fargo & Co 8.00% 12/15/2017 BBB/Baa2 2.84%
HSBC Holdings PLC 8.12% 06/22/2015 BBB-/Baa2 2.64%
Deutsche Bank Contingent Capital Trust V 8.05% 06/30/2018 BB/Ba3 2.62%
ING Groep NV 7.38% 07/15/2015 BB/Ba1 1.86%
GMAC Capital Trust I 8.12% 02/15/2040 02/15/2016 B/B3 1.75%
Public Storage 6.50% 04/14/2016 BBB+/A3 1.73%
Morgan Stanley 6.38% 10/15/2024 BB/Ba3 1.70%
BB&T Corp 5.62% 08/01/2017 BBB-/Baa1 1.57%

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
05/15/2015 05/19/2015 05/29/2015 0.07358 0.07358 - - -
04/15/2015 04/17/2015 04/30/2015 0.07328 0.07328 - - -
03/13/2015 03/17/2015 03/31/2015 0.07249 0.07249 - - -
02/13/2015 02/18/2015 02/27/2015 0.07312 0.07312 - - -
01/15/2015 01/20/2015 01/30/2015 0.07332 0.07332 - - -
12/15/2014 12/17/2014 12/31/2014 0.07293 0.07293 - - -
11/14/2014 11/18/2014 11/28/2014 0.07232 0.07232 - - -
10/15/2014 10/17/2014 10/31/2014 0.07217 0.07217 - - -
09/15/2014 09/17/2014 09/30/2014 0.07400 0.07400 - - -
08/15/2014 08/19/2014 08/29/2014 0.07313 0.07313 - - -
07/15/2014 07/17/2014 07/31/2014 0.07312 0.07312 - - -
06/13/2014 06/17/2014 06/30/2014 0.07371 0.07371 - - -
05/15/2014 05/19/2014 05/30/2014 0.07402 0.07402 - - -
04/15/2014 04/17/2014 04/30/2014 0.07310 0.07310 - - -
03/14/2014 03/18/2014 03/31/2014 0.07263 0.07263 - - -
02/14/2014 02/19/2014 02/28/2014 0.07360 0.07360 - - -
01/15/2014 01/17/2014 01/31/2014 0.07373 0.07373 - - -
12/13/2013 12/17/2013 12/31/2013 0.07385 0.07385 - - -
11/15/2013 11/19/2013 11/29/2013 0.07402 0.07402 - - -
10/15/2013 10/17/2013 10/31/2013 0.07400 0.07400 - - -
09/13/2013 09/17/2013 09/30/2013 0.07600 0.07600 - - -
08/15/2013 08/19/2013 08/30/2013 0.07600 0.07600 - - -
07/15/2013 07/17/2013 07/31/2013 0.07600 0.07600 - - -
06/14/2013 06/18/2013 06/28/2013 0.07501 0.07501 - - -
05/15/2013 05/17/2013 05/31/2013 0.07523 0.07523 - - -
04/15/2013 04/17/2013 04/30/2013 0.07748 0.07748 - - -
03/15/2013 03/19/2013 03/28/2013 0.07780 0.07780 - - -
02/15/2013 02/20/2013 02/28/2013 0.07809 0.07809 - - -
01/15/2013 01/17/2013 01/31/2013 0.07808 0.07808 - - -
12/14/2012 12/18/2012 12/31/2012 0.07807 0.07807 - - -
11/15/2012 11/19/2012 11/30/2012 0.07910 0.07910 - - -
10/15/2012 10/17/2012 10/31/2012 0.07586 0.07586 - - -
09/14/2012 09/18/2012 09/28/2012 0.07883 0.07883 - - -
08/15/2012 08/17/2012 08/31/2012 0.07740 0.07740 - - -
07/13/2012 07/17/2012 07/31/2012 0.07980 0.07980 - - -
06/15/2012 06/19/2012 06/29/2012 0.08107 0.08107 - - -
05/15/2012 05/17/2012 05/31/2012 0.08112 0.08112 - - -
04/13/2012 04/17/2012 04/30/2012 0.07878 0.07878 - - -
03/15/2012 03/19/2012 03/30/2012 0.07963 0.07963 - - -
02/15/2012 02/17/2012 02/29/2012 0.07981 0.07981 - - -
01/13/2012 01/18/2012 01/31/2012 0.07961 0.07961 - - -
12/15/2011 12/19/2011 12/30/2011 0.07596 0.07596 - - -
11/15/2011 11/17/2011 11/30/2011 0.07411 0.07411 - - -
10/14/2011 10/18/2011 10/31/2011 0.07469 0.07469 - - -
09/15/2011 09/19/2011 09/30/2011 0.07934 0.07934 - - -
08/15/2011 08/17/2011 08/31/2011 0.07591 0.07591 - - -
07/15/2011 07/19/2011 07/29/2011 0.07564 0.07564 - - -
06/15/2011 06/17/2011 06/30/2011 0.07816 0.07816 - - -
05/13/2011 05/17/2011 05/31/2011 0.07775 0.07775 - - -
04/15/2011 04/19/2011 04/29/2011 0.07956 0.07956 - - -
03/15/2011 03/17/2011 03/31/2011 0.08020 0.08020 - - -
02/15/2011 02/17/2011 02/28/2011 0.07780 0.07780 - - -
01/14/2011 01/19/2011 01/31/2011 0.07790 0.07790 - - -
12/15/2010 12/17/2010 12/31/2010 0.09783 0.09783 - - -
11/15/2010 11/17/2010 11/30/2010 0.07253 0.07253 - - -
10/15/2010 10/19/2010 10/29/2010 0.07981 0.07981 - - -
09/15/2010 09/17/2010 09/30/2010 0.07776 0.07776 - - -
08/13/2010 08/17/2010 08/31/2010 0.07888 0.07888 - - -
07/15/2010 07/19/2010 07/30/2010 0.07799 0.07799 - - -
06/15/2010 06/17/2010 06/30/2010 0.07641 0.07641 - - -
05/14/2010 05/18/2010 05/28/2010 0.07762 0.07762 - - -
04/15/2010 04/19/2010 04/30/2010 0.07877 0.07877 - - -
03/15/2010 03/17/2010 03/31/2010 0.07700 0.07700 - - -
02/12/2010 02/17/2010 02/26/2010 0.07820 0.07820 - - -
01/15/2010 01/20/2010 01/29/2010 0.08010 0.08010 - - -
12/15/2009 12/17/2009 12/31/2009 0.14329 0.14329 - - -
11/13/2009 11/17/2009 11/30/2009 0.08033 0.08033 - - -
10/15/2009 10/19/2009 10/30/2009 0.08049 0.08049 - - -
09/15/2009 09/17/2009 09/30/2009 0.08050 0.08050 - - -
08/14/2009 08/18/2009 08/31/2009 0.08350 0.08350 - - -
07/15/2009 07/17/2009 07/31/2009 0.08309 0.08309 - - -
06/15/2009 06/17/2009 06/30/2009 0.08151 0.08151 - - -
05/15/2009 05/19/2009 05/29/2009 0.09140 0.09140 - - -
04/15/2009 04/17/2009 04/30/2009 0.08179 0.08179 - - -
03/13/2009 03/17/2009 03/31/2009 0.08897 0.08897 - - -
02/13/2009 02/18/2009 02/27/2009 0.09448 0.09448 - - -
01/15/2009 01/20/2009 01/30/2009 0.10051 0.10051 - - -
12/15/2008 12/17/2008 12/31/2008 0.11707 0.11707 - - -
11/14/2008 11/18/2008 11/28/2008 0.12500 0.12500 - - -
10/15/2008 10/17/2008 10/31/2008 0.07614 0.07614 - - -
09/15/2008 09/17/2008 09/30/2008 0.10080 0.10080 - - -
08/15/2008 08/19/2008 08/29/2008 0.11874 0.11874 - - -
07/15/2008 07/17/2008 07/31/2008 0.11752 0.11752 - - -
06/13/2008 06/17/2008 06/30/2008 0.11767 0.11767 - - -
05/15/2008 05/19/2008 05/30/2008 0.11778 0.11778 - - -
04/15/2008 04/17/2008 04/30/2008 0.11678 0.11678 - - -
03/14/2008 03/18/2008 03/31/2008 0.11780 0.11780 - - -
02/15/2008 02/19/2008 02/29/2008 0.11800 0.11800 - - -

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%
03/31/2015 61 0 0 0 0 0 0
12/31/2014 64 0 0 0 0 0 0
09/30/2014 64 0 0 0 0 0 0
06/30/2014 63 1 0 0 0 0 0
Year Ended 2014 252 1 0 0 0 0 0

Fund Inception: 01/31/2008

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.


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 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.

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.

Investments focused in a particular industry or sector, such as the financial institutions sector are subject to greater risk, and are more greatly impacted by market volatility, than more diversified investments.

The risks of investing in securities of foreign issuers can include fluctuations in foreign currencies, political and economic instability, and foreign taxation issues.

Stocks of small and mid-sized companies tend to be more vulnerable to adverse developments, may be more volatile, and may be illiquid or restricted as to resale.

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 S&P U.S. Preferred Stock Index is an unmanaged index consisting of U.S.-listed preferred stocks.

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

"BofA Merrill Lynch", "The BofA Merrill Lynch Core Fixed Rate Preferred Securities Index" and "The BofA Merrill Lynch Core Plus Fixed Rate Preferred Securities Index" are reprinted with permission. © Copyright 2015 Merrill Lynch, Pierce, Fenner & Smith Incorporated ("BofA Merrill Lynch"). All rights reserved. "BofA Merrill Lynch", "The BofA Merrill Lynch Core Fixed Rate Preferred Securities Index" " and "The BofA Merrill Lynch Core Plus Fixed Rate Preferred Securities Index" are service marks of BofA Merrill Lynch and/or its affiliates and have been licensed for use for certain purposes by PowerShares on behalf of the PowerShares Preferred Portfolio that is based on The BofA Merrill Lynch Core Plus Fixed Rate Preferred Securities Index, and is not issued, sponsored, endorsed or promoted by BofA Merrill Lynch and/or BofA Merrill Lynch's affiliates nor is BofA Merrill Lynch and/or BofA Merrill Lynch's affiliates an adviser to the PowerShares Preferred Portfolio. BofA Merrill Lynch and BofA Merrill Lynch's affiliates make no representation, express or implied, regarding the advisability of investing in the PowerShares Preferred Portfolio or The BofA Merrill Lynch Core Plus Fixed Rate Preferred Securities Index and do not guarantee the quality, accuracy or completeness of The BofA Merrill Lynch Core Plus Fixed Rate Preferred Securities Index, index values or any index related data included herein, provided herewith or derived therefrom and assume no liability in connection with their use. As the index provider, BofA Merrill Lynch is licensing certain trademarks, The BofA Merrill Lynch Core Fixed Rate Preferred Securities Index, The BofA Merrill Lynch Core Plus Fixed Rate Perferred Securities Index and trade names which are composed by BofA Merrill Lynch without regard to PowerShares, the PowerShares Preferred Portfolio or any investor. BofA Merrill Lynch and BofA Merrill Lynch's affiliates do not provide investment advice to PowerShares or the PowerShares Preferred Portfolio and are not responsible for the performance of the PowerShares Preferred Portfolio.

as of 05/22/2015
4:00 PM EST

PGX
Intraday Stats

  • Last Trade $14.73
  • Current IIV $14.73
  • Change $0.01
  • % Change 0.07%
as of 05/22/2015
  • NAV at market close $14.73
as of 05/22/2015

Fund Yield

  • SEC 30 Day Yield 5.97%
  • Distribution Yield 5.99%
  • 12 Month Yield 5.96%
  • 30-Day SEC Unsubsidized Yield
    as of 05/21/2015
    5.98%
as of 05/22/2015

Prior Close

  • Closing Price $14.72
  • Bid/Ask Midpoint $14.74
  • Bid/Ask Prem/Disc $0.01
  • Bid/Ask Prem/Disc 0.07%
as of 05/15/2015

Fund Characteristics

  • Effective Duration 4.73 yrs
  • Yield to Maturity 6.20%
  • Yield to Worst 6.05%
  • Weighted Avg Coupon 5.46%
  • Weighted Premium/Discount 4.65%
As of June 14, 2013 the source of the calculation for these fund characteristics was changed from Bloomberg to Aladdin (BRS).

Fund Details

  • Fund Ticker PGX
  • CUSIP # 73936T565
  • ISIN US73936T5653
  • Intraday NAV PGXIV
  • Index Ticker P0P4
  • Index Provider BofA Merrill Lynch
  • Management Fee 0.50%
  • Total Expense Ratio 0.50%
  • Marginable Yes
  • Short Selling Yes
  • Options Yes
  • Exchange NYSE Arca
  • Inception Date 01/31/2008
  • NAIC Designation P3
  • # of Holdings 211
    as of 05/22/2015
as of 05/22/2015

Quick Facts

  • Previous Close $14.72
  • Open $14.74
  • Today's High $14.76
  • Today's Low $14.72
  • Today's Volume 1,500,564
  • 52 Week High $14.95
  • 52 Week Low $14.28
  • Shares Outstanding 189.20MM
  • Market Value $2,787.4MM