PowerShares ETFs

PICB - PowerShares International Corporate Bond Portfolio

Fixed Income - International and Global Fixed Income

Product Details

The PowerShares International Corporate Bond Portfolio (Fund) is based on the S&P International Corporate Bond Index® (Index). The Fund will normally invest at least 80% of its total assets in investment-grade corporate bonds that comprise the Index. The Index measures the performance of investment-grade corporate bonds issued in the following currencies of Group of Ten (G10) countries, excluding the US dollar (USD): Australian dollar (AUD), British pound (GBP), Canadian dollar (CAD), euro (EUR), Japanese yen (JPY), Swiss franc (SFR), New Zealand dollar (NZD), Norwegian krone (NOK) and Swedish krona (SEK). The Index is computed using the net return, which withholds applicable taxes for non-resident investors. The Fund and the Index are rebalanced monthly and reconstituted annually in September.

as of 03/31/2016 03/31/2016

Performance

  YTD 1Yr 3Yr 5Yr 10Yr Since Inception
Index History (%)
S&P International Corporate Bond Index 5.28 1.71 -0.28 1.68 N/A 3.92
Barclays Pan-European Aggregate Index 6.86 5.28 1.50 2.22 4.27 4.36
S&P International Corporate Bond Index 5.28 1.71 -0.28 1.68 N/A 3.92
Barclays Pan-European Aggregate Index 6.86 5.28 1.50 2.22 4.27 4.36
Fund History (%)
Fund NAV 5.24 1.93 -0.12 1.96 N/A 4.05
After Tax Held 4.99 1.51 -0.87 1.05 N/A 3.18
After Tax Sold 2.96 1.08 -0.41 1.14 N/A 2.80
Fund Market Price 4.64 1.58 -0.28 1.73 N/A 3.87
Fund NAV 5.24 1.93 -0.12 1.96 N/A 4.05
After Tax Held 4.99 1.51 -0.87 1.05 N/A 3.18
After Tax Sold 2.96 1.08 -0.41 1.14 N/A 2.80
Fund Market Price 4.64 1.58 -0.28 1.73 N/A 3.87

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 June 30, 2015, the Fund’s previous benchmark index, BofA Merrill Lynch Global Broad Market Non-Sovereign ex-USD Index, was discontinued and its performance will no longer be shown.

as of 03/31/2016

Growth of $10,000

Data beginning Fund inception and ending 03/31/2016. 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 04/28/2016

Sector Allocation

as of 04/28/2016

Top Country Allocation

as of 04/28/2016

Currency Allocation

Quality Allocations as of 04/28/2016

S&P Moody's
AAA : 0% Aaa : 0%
AA : 10% Aa : 20%
A : 42% A : 38%
BBB : 42% Baa : 33%
BB : 0% Ba : 0%
Not Rated : 6% Not Rated : 8%

Cash is excluded from the credit rating quality allocations table.

as of 04/28/2016 Maturity

Years % of Fund
0 - 1 years 0.71
1 - 5 years 40.05
5 - 10 years 34.66
10 - 15 years 9.92
15 - 20 years 3.71
20 - 25 years 6.52
25 years and over 4.43

as of 04/28/2016Top Fixed-Income Holdings | View All

Holding Name Coupon Rate Maturity Date Next Call Date S&P / Moody's Rating† Weight
Lloyds Bank PLC 7.62% 04/22/2025 N/A BBB/Baa2 1.31%
Electricite de France SA 5.50% 10/17/2041 N/A A+/A1 1.01%
Heathrow Funding Ltd 6.75% 12/03/2026 N/A A-/NR 0.88%
Enel SpA 5.75% 06/22/2037 N/A BBB/Baa2 0.87%
Barclays Bank PLC 10.00% 05/21/2021 N/A BBB-/Baa3 0.86%
Engie SA 2.38% 05/19/2026 N/A A/A2 0.83%
Cooperatieve Rabobank UA 5.25% 09/14/2027 N/A BBB+/A3 0.76%
Credit Agricole SA/London 2.38% 11/27/2020 N/A A/A2 0.73%
Electricite de France SA 5.50% 03/27/2037 N/A A+/A1 0.71%
Electricite de France SA 6.12% 06/02/2034 N/A A+/A1 0.70%

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
04/15/2016 04/19/2016 04/29/2016 0.04862 0.04862 - - -
03/15/2016 03/17/2016 03/31/2016 0.04724 0.04724 - - -
02/12/2016 02/17/2016 02/29/2016 0.04741 0.04741 - - -
01/15/2016 01/20/2016 01/29/2016 0.04863 0.04863 - - -
12/15/2015 12/17/2015 12/31/2015 0.04798 0.04798 - - -
11/13/2015 11/17/2015 11/30/2015 0.05147 0.05147 - - -
10/15/2015 10/19/2015 10/30/2015 0.04347 0.04347 - - -
09/15/2015 09/17/2015 09/30/2015 0.04741 0.04741 - - -
08/14/2015 08/18/2015 08/31/2015 0.05028 0.05028 - - -
07/15/2015 07/17/2015 07/31/2015 0.05088 0.05088 - - -
06/15/2015 06/17/2015 06/30/2015 0.04946 0.04946 - - -
05/15/2015 05/19/2015 05/29/2015 0.05118 0.05118 - - -
04/15/2015 04/17/2015 04/30/2015 0.04967 0.04967 - - -
03/13/2015 03/17/2015 03/31/2015 0.05200 0.05200 - - -
02/13/2015 02/18/2015 02/27/2015 0.05196 0.05196 - - -
01/15/2015 01/20/2015 01/30/2015 0.05595 0.05595 - - -
12/15/2014 12/17/2014 12/31/2014 0.05796 0.05796 - - -
11/14/2014 11/18/2014 11/28/2014 0.05700 0.05700 - - -
10/15/2014 10/17/2014 10/31/2014 0.05700 0.05700 - - -
09/15/2014 09/17/2014 09/30/2014 0.05730 0.05730 - - -
08/15/2014 08/19/2014 08/29/2014 0.06092 0.06092 - - -
07/15/2014 07/17/2014 07/31/2014 0.06382 0.06382 - - -
06/13/2014 06/17/2014 06/30/2014 0.06381 0.06381 - - -
05/15/2014 05/19/2014 05/30/2014 0.06526 0.06526 - - -
04/15/2014 04/17/2014 04/30/2014 0.06669 0.06669 - - -
03/14/2014 03/18/2014 03/31/2014 0.06752 0.06752 - - -
02/14/2014 02/19/2014 02/28/2014 0.06692 0.06692 - - -
01/15/2014 01/17/2014 01/31/2014 0.06800 0.06800 - - -
12/13/2013 12/17/2013 12/31/2013 0.06700 0.06700 - - -
11/15/2013 11/19/2013 11/29/2013 0.06900 0.06900 - - -
10/15/2013 10/17/2013 10/31/2013 0.05700 0.05700 - - -
09/13/2013 09/17/2013 09/30/2013 0.06100 0.06100 - - -
08/15/2013 08/19/2013 08/30/2013 0.05899 0.05899 - - -
07/15/2013 07/17/2013 07/31/2013 0.06203 0.06203 - - -
06/14/2013 06/18/2013 06/28/2013 0.06715 0.06715 - - -
05/15/2013 05/17/2013 05/31/2013 0.07125 0.07125 - - -
04/15/2013 04/17/2013 04/30/2013 0.06990 0.06990 - - -
03/15/2013 03/19/2013 03/28/2013 0.07131 0.07131 - - -
02/15/2013 02/20/2013 02/28/2013 0.07558 0.07558 - - -
01/15/2013 01/17/2013 01/31/2013 0.07613 0.07613 - - -
12/14/2012 12/18/2012 12/31/2012 0.07346 0.07346 - - -
11/15/2012 11/19/2012 11/30/2012 0.07716 0.07716 - - -
10/15/2012 10/17/2012 10/31/2012 0.07300 0.07300 - - -
09/14/2012 09/18/2012 09/28/2012 0.06996 0.06996 - - -
08/15/2012 08/17/2012 08/31/2012 0.07163 0.07163 - - -
07/13/2012 07/17/2012 07/31/2012 0.07503 0.07503 - - -
06/15/2012 06/19/2012 06/29/2012 0.07310 0.07310 - - -
05/15/2012 05/17/2012 05/31/2012 0.07948 0.07948 - - -
04/13/2012 04/17/2012 04/30/2012 0.07948 0.07948 - - -
03/15/2012 03/19/2012 03/30/2012 0.08126 0.08126 - - -
02/15/2012 02/17/2012 02/29/2012 0.08139 0.08139 - - -
01/13/2012 01/18/2012 01/31/2012 0.08094 0.08094 - - -
12/15/2011 12/19/2011 12/30/2011 0.08964 0.08964 - - -
11/15/2011 11/17/2011 11/30/2011 0.08000 0.08000 - - -
10/14/2011 10/18/2011 10/31/2011 0.08250 0.08250 - - -
09/15/2011 09/19/2011 09/30/2011 0.09511 0.09511 - - -
08/15/2011 08/17/2011 08/31/2011 0.09557 0.09557 - - -
07/15/2011 07/19/2011 07/29/2011 0.09754 0.09754 - - -
06/15/2011 06/17/2011 06/30/2011 0.08857 0.08857 - - -
05/13/2011 05/17/2011 05/31/2011 0.08800 0.08800 - - -
04/15/2011 04/19/2011 04/29/2011 0.08900 0.08900 - - -
03/15/2011 03/17/2011 03/31/2011 0.08249 0.08249 - - -
02/15/2011 02/17/2011 02/28/2011 0.07950 0.07950 - - -
01/14/2011 01/19/2011 01/31/2011 0.07800 0.07800 - - -
12/15/2010 12/17/2010 12/31/2010 0.07471 0.07471 - - -
11/15/2010 11/17/2010 11/30/2010 0.08050 0.08050 - - -
10/15/2010 10/19/2010 10/29/2010 0.07796 0.07796 - - -
09/15/2010 09/17/2010 09/30/2010 0.07556 0.07556 - - -
08/13/2010 08/17/2010 08/31/2010 0.07495 0.07495 - - -
07/15/2010 07/19/2010 07/30/2010 0.07422 0.07422 - - -
06/15/2010 06/17/2010 06/30/2010 0.07000 0.07000 - - -

Frequency Distribution of Discounts & Premiums

    Bid/Ask MidPoint Above NAV
Quarter
Ending
Days 0.00-
0.25%
0.26-
0.50%
0.51-
0.99%
1.00-
1.49%
1.50-
1.99%
≥2.00%
03/31/2016 61 11 2 2 1 0 0
12/31/2015 64 8 2 0 0 0 0
09/30/2015 64 26 12 2 0 0 0
06/30/2015 63 21 8 5 0 0 0
Year Ended 2015 252 65 27 8 1 0 0
    Bid/Ask Midpoint Below NAV
Quarter
Ending
Days 0.00-
0.25%
0.26-
0.50%
0.51-
0.99%
1.00-
1.49%
1.50-
1.99%
≥2.00%
03/31/2016 61 21 20 4 0 0 0
12/31/2015 64 26 20 7 1 0 0
09/30/2015 64 16 6 2 0 0 0
06/30/2015 63 23 5 1 0 0 0
Year Ended 2015 252 84 54 12 1 0 0

Fund Inception: 06/03/2010

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.

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 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.

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 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.

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

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, including sovereign, quasi-government, corporate, securitized and collateralized securities and excludes all securities denominated in US dollars.

The Barclays Pan-European Aggregate Index covers eligible investment grade securities from the entire European continent. The primary component is the Euro-Aggregate Index. In addition, the Pan-European Aggregate Index includes eligible securities denominated in British pounds (GBP), Swedish krona (SEK), Danish krone (DKK), Norwegian krone (NOK), Czech koruna (CZK), Hungarian forint (HUF), Polish zloty (PLN), Slovenian tolar (SIT), Slovakian koruna (SKK), and Swiss franc (CHF).

S&P® is a registered trademark of Standard & Poor's Financial Services LLC (S&P) and Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC (Dow Jones). These trademarks have been licensed for use by S&P Dow Jones Indices LLC. S&P® and Standard & Poor's® are trademarks of S&P and Dow Jones® is a trademark of Dow Jones. These trademarks have been sublicensed for certain purposes by Invesco PowerShares Capital Management LLC (Invesco PowerShares). The Index is a product of S&P Dow Jones Indices LLC and/or its affiliates and has been licensed for use by Invesco PowerShares. The Fund is not sponsored, endorsed, sold or promoted by S&P Dow Jones Indices LLC, Dow Jones, S&P or their respective affiliates and neither S&P Dow Jones Indices LLC, Dow Jones, S&P or their respective affiliates make any representation regarding the advisability of investing in such product(s).

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 04/29/2016
3:11 PM EST

PICB
Intraday Stats

  • Last Trade $26.71
  • Current IIV $26.65
  • Change $0.09
  • % Change 0.34%
as of 04/28/2016
  • NAV at market close $26.53
as of 04/28/2016

Fund Yield

  • SEC 30 Day Yield 1.40%
  • Distribution Rate 2.20%
  • 12 Month Distribution Rate 2.19%
  • 30-Day SEC Unsubsidized Yield
    as of 04/28/2016
    1.40%
as of 04/28/2016

Prior Close

  • Closing Price $26.62
  • Bid/Ask Midpoint $26.59
  • Bid/Ask Prem/Disc $0.06
  • Bid/Ask Prem/Disc 0.23%
as of 04/22/2016

Fund Characteristics

  • Effective Duration 6.45 yrs
  • Modified Duration 6.35 yrs
  • Yield to Maturity 1.96%
  • Yield to Worst 1.96%
  • Years to Maturity 8.42
  • Weighted Avg Coupon 4.01%
  • Weighted Avg Price
    as of 04/28/2016
    111.93
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 PICB
  • CUSIP # 73936Q835
  • ISIN US73936Q8353
  • Intraday NAV PICBIV
  • Index Ticker SPBDICBN
  • Index Provider S&P Dow Jones Indices LLC
  • Management Fee 0.50%
  • Total Expense Ratio 0.50%
  • Marginable Yes
  • Short Selling Yes
  • Options No
  • Exchange NYSE Arca
  • Inception Date 06/03/2010
  • NAIC Designation 2
  • Date of RTAS Letter 12/10/2012
  • # of Holdings 358
    as of 04/28/2016

SVO Disclosure

The Securities Valuation Office of the National Association of Insurance Commissioners (NAIC) assigns credit quality designations to securities held by state-regulated insurance companies. NAIC Designations are opinions of credit quality that range from NAIC 1, being the highest quality, to NAIC 6, being the lowest quality. “P” is a valuation indicator used to classify perpetual preferred stock. NAIC Designations allow fixed-income ETFs to be reported as bonds and are used to set Risk-Based Capital (RBC) requirements. NAIC designations only measure credit risk and do not measure other risks or factors that may affect repayment, such as volatility/interest rate, prepayment, extension or liquidity risk.

Preliminary NAIC Designation Disclosure:

Preliminary NAIC Designations are the intellectual property of the National Association of Insurance Commissioners (NAIC) and are redistributed here under License. A Preliminary NAIC Designation is an opinion of the NAIC Securities Valuation Office (SVO) of the probable credit quality designation that would be assigned by the SVO to an investment if purchased by an insurance company and reported to the SVO. A Preliminary NAIC Designations is only one of the regulatory factors considered by the SVO as part of its analysis of probable regulatory treatment under the Regulatory Treatment Analysis Service. A full discussion of such other regulatory factors is set forth in the RTAS Letter provided to Invesco PowerShares Capital Management LLC. A Preliminary NAIC Designation cannot be used to report the ETF to state insurance regulators. However, the purchasing insurance company may obtain an NAIC Designation for the ETF by filing the security and final documents for the ETF with the SVO. The indication of probable regulatory treatment indicated by a Preliminary NAIC Designation is not a recommendation to purchase the ETF and is not intended to convey approval or endorsement of the ETF Sponsor or the ETF by the NAIC.

Official NAIC Designation Disclosure:

NAIC Designations are the intellectual property of the National Association of Insurance Commissioners (NAIC) and are redistributed here under License. An NAIC Designation is a proprietary symbol used by the NAIC Securities Valuation Office (SVO) to denote a category or band of credit risk (i.e., the likelihood of repayment in accordance with a written contract) for an issuer or for a security. NAIC Designations may be notched up or down to reflect the position of a specific liability in the issuer’s capital structure and/or the existence of other non-payment risk in the specific security. Under NAIC reporting rules, shares of an ETF are presumed to be reportable as common stock. The SVO may classify an ETF as a bond or preferred stock and assign it an NAIC Designation if it meets defined criteria. For a discussion of these criteria please call the SVO or refer to the Purposes and Procedures Manual of the NAIC Securities Valuation Office. The assignment of an NAIC Designation is not a recommendation to purchase the ETF and is not intended to convey approval or endorsement of the ETF Sponsor or the ETF by the NAIC.

as of 04/29/2016

Quick Facts

  • Previous Close $26.62
  • Open $26.66
  • Today's High $26.73
  • Today's Low $26.64
  • Today's Volume 17,097
  • 52 Week High $27.55
  • 52 Week Low $24.46
  • Shares Outstanding 6.45MM
  • Market Value $171.1MM