PowerShares ETFs

SPLV - PowerShares S&P 500 Low Volatility Portfolio

Equity - US Equity

Product Details

The PowerShares S&P 500® Low Volatility Portfolio (Fund) is based on the S&P 500® Low Volatility Index (Index). The Fund will invest at least 90% of its total assets in common stocks that comprise the Index. The Index is compiled, maintained and calculated by Standard & Poor's and consists of the 100 stocks from the S&P 500® Index with the lowest realized volatility over the past 12 months. Volatility is a statistical measurement of the magnitude of up and down asset price fluctuations over time. The Fund and the Index are rebalanced and reconstituted quarterly in February, May, August and November.

A core holding to mitigate volatility

In the current market environment investors might consider an amplified allocation to low volatility. We believe managing the impact of volatility is critical when pursuing long-term investment goals — that's why Invesco PowerShares launched SPLV, the first low volatility ETF designed to help investors mitigate volatility.

As a core allocation, SPLV may help:

  • Buffer portfolios during down markets
  • Provide growth during up markets
  • Generate attractive returns across full market cycles

Mitigate volatility in uncertain markets

The S&P 500 Low Volatility Index underlying SPLV employs an unconstrained approach which means it can dynamically respond to market conditions. In contrast, other low volatility indexes have sector constraints that prohibit them from straying too far from a particular sector allocation. This unconstrained approach historically helped buffer portfolios during down markets and may help investors' weather market uncertainty. Since inception in 2011, the S&P 500 Low Volatility Index exhibited a down-capture of 43% and actually rose in one of the 10 worst markets since 2011.1

S&P 500 Low Volatility Index performance during the 10 worst returning months for the S&P 500 Index

1 Source: Bloomberg L.P., of June 30, 2015. Past performance is no guarantee of future results. An investor cannot invest directly in an index. Of course, low volatility cannot be guaranteed.

Don't sacrifice market participation

Low volatility investing turns modern financial theory on its head by breaking the link between risk and return. In application, investors should no longer assume that they need to compromise market participation when looking to mitigate the impact of market volatility. Since inception in 2011, the S&P 500 Low Volatility Index underlying SPLV exhibited an up-capture of 73% and only declined once in the 10 strongest markets.1

S&P 500 Low Volatility Index performance during the 10 strongest returning months for the S&P 500 Index

1 Source: Bloomberg L.P., of June 30, 2015. Past performance is no guarantee of future results. An investor cannot invest directly in an index. Of course, low volatility cannot be guaranteed.

Potential to generate attractive returns across full market cycles

SPLV showcased its ability to generate attractive returns across market volatility such as in the sharp sell-off between Sept. 18, 2014 and Oct. 14, 2014 followed by a quick rebound from Oct. 15 to 31, 2014. During the market rebound, SPLV trailed the S&P 500 Index by 1.5%; however outperformed during the market sell-off by 4.9% and by over 3.8% across the full market cycle.1 Drivers of SPLV's outperformance include:

  • Its allocation to utilities and selection effect in financials and, to a larger degree, in materials.
  • The ability to dynamically rotate in at out of sectors as market volatility.

SPLV and S&P 500 Index performance during period performance

1 Source: Bloomberg, L.P., as of Apr. 30, 2015. Past performance is no guarantee of future results. An investor cannot invest directly in an index. Of course, low volatility cannot be guaranteed.

as of 01/31/2016 12/31/2015

Performance

  YTD 1Yr 3Yr 5Yr 10Yr Since Inception
Index History (%)
S&P 500 Low Volatility Index 4.34 4.34 14.85 N/A N/A 13.33
S&P 500 Index 1.38 1.38 15.13 12.57 7.31 11.97
S&P 500 Low Volatility Index -1.72 3.00 12.33 N/A N/A 12.66
S&P 500 Index -4.96 -0.67 11.30 10.91 6.48 10.55
Fund History (%)
Fund NAV 4.06 4.06 14.55 N/A N/A 13.02
After Tax Held 3.01 3.01 13.69 N/A N/A 12.29
After Tax Sold 2.28 2.28 11.16 N/A N/A 10.24
Fund Market Price 4.06 4.06 14.62 N/A N/A 13.05
Fund NAV -1.72 2.73 12.04 N/A N/A 12.35
After Tax Held -1.81 2.14 11.37 N/A N/A 11.74
After Tax Sold -0.98 1.97 9.33 N/A N/A 9.82
Fund Market Price -2.01 2.60 11.97 N/A N/A 12.32

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 12/31/2015

Growth of $10,000

Data beginning Fund inception and ending 12/31/2015. 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 02/12/2016

Sector Allocation

as of 02/11/2016

Market Cap & Style Allocations

Large-Cap Value 24.62%
Large-Cap Blend 21.81%
Large-Cap Growth 19.10%
Mid-Cap Value 10.61%
Mid-Cap Blend 15.20%
Mid-Cap Growth 8.66%
Small-Cap Value -
Small-Cap Blend -
Small-Cap Growth -

as of 02/12/2016 Top Holdings | View All

Fund Holdings subject to change

Ticker Company % of Fund
CPB Campbell Soup Co 1.34
KO Coca-Cola Co/The 1.30
ARG Airgas Inc 1.29
CLX Clorox Co/The 1.29
VZ Verizon Communications Inc 1.26
PG Procter & Gamble Co/The 1.26
T AT&T Inc 1.26
K Kellogg Co 1.25
WM Waste Management Inc 1.21
MKC McCormick & Co Inc/MD 1.20

Distributions | View All | Distribution Information

Ex-Date Record Date Pay Date $/
Share
Ordinary Income Short Term Gains Long Term Gains Return of Capital
02/12/2016 02/17/2016 02/29/2016 0.07069 0.07069 - - -
01/15/2016 01/20/2016 01/29/2016 0.07115 0.07115 - - -
12/15/2015 12/17/2015 12/31/2015 0.06837 0.06837 - - -
11/13/2015 11/17/2015 11/30/2015 0.06741 0.06741 - - -
10/15/2015 10/19/2015 10/30/2015 0.07074 0.07074 - - -
09/15/2015 09/17/2015 09/30/2015 0.06841 0.06841 - - -
08/14/2015 08/18/2015 08/31/2015 0.07300 0.07300 - - -
07/15/2015 07/17/2015 07/31/2015 0.07072 0.07072 - - -
06/15/2015 06/17/2015 06/30/2015 0.07061 0.07061 - - -
05/15/2015 05/19/2015 05/29/2015 0.07936 0.07936 - - -
04/15/2015 04/17/2015 04/30/2015 0.07799 0.07799 - - -
03/13/2015 03/17/2015 03/31/2015 0.07641 0.07641 - - -
02/13/2015 02/18/2015 02/27/2015 0.08050 0.08050 - - -
01/15/2015 01/20/2015 01/30/2015 0.07542 0.07542 - - -
12/15/2014 12/17/2014 12/31/2014 0.07434 0.07434 - - -
11/14/2014 11/18/2014 11/28/2014 0.07544 0.07544 - - -
10/15/2014 10/17/2014 10/31/2014 0.06536 0.06536 - - -
09/15/2014 09/17/2014 09/30/2014 0.06499 0.06499 - - -
08/15/2014 08/19/2014 08/29/2014 0.07087 0.07087 - - -
07/15/2014 07/17/2014 07/31/2014 0.06889 0.06889 - - -
06/13/2014 06/17/2014 06/30/2014 0.06902 0.06902 - - -
05/15/2014 05/19/2014 05/30/2014 0.06962 0.06962 - - -
04/15/2014 04/17/2014 04/30/2014 0.06925 0.06925 - - -
03/14/2014 03/18/2014 03/31/2014 0.06960 0.06960 - - -
02/14/2014 02/19/2014 02/28/2014 0.07150 0.07150 - - -
01/15/2014 01/17/2014 01/31/2014 0.06794 0.06794 - - -
12/13/2013 12/17/2013 12/31/2013 0.06818 0.06818 - - -
11/15/2013 11/19/2013 11/29/2013 0.07109 0.07109 - - -
10/15/2013 10/17/2013 10/31/2013 0.07640 0.07640 - - -
09/13/2013 09/17/2013 09/30/2013 0.07512 0.07512 - - -
08/15/2013 08/19/2013 08/30/2013 0.07163 0.07163 - - -
07/15/2013 07/17/2013 07/31/2013 0.07322 0.07322 - - -
06/14/2013 06/18/2013 06/28/2013 0.07277 0.07277 - - -
05/15/2013 05/17/2013 05/31/2013 0.07111 0.07111 - - -
04/15/2013 04/17/2013 04/30/2013 0.07099 0.07099 - - -
03/15/2013 03/19/2013 03/28/2013 0.07072 0.07072 - - -
02/15/2013 02/20/2013 02/28/2013 0.06844 0.06844 - - -
01/15/2013 01/17/2013 01/31/2013 0.07275 0.07275 - - -
12/14/2012 12/18/2012 12/31/2012 0.10571 0.10571 - - -
11/15/2012 11/19/2012 11/30/2012 0.07160 0.07160 - - -
10/15/2012 10/17/2012 10/31/2012 0.06195 0.06195 - - -
09/14/2012 09/18/2012 09/28/2012 0.06133 0.06133 - - -
08/15/2012 08/17/2012 08/31/2012 0.06868 0.06868 - - -
07/13/2012 07/17/2012 07/31/2012 0.06813 0.06813 - - -
06/15/2012 06/19/2012 06/29/2012 0.06474 0.06474 - - -
05/15/2012 05/17/2012 05/31/2012 0.06291 0.06291 - - -
04/13/2012 04/17/2012 04/30/2012 0.06372 0.06372 - - -
03/15/2012 03/19/2012 03/30/2012 0.06900 0.06900 - - -
02/15/2012 02/17/2012 02/29/2012 0.06760 0.06760 - - -
01/13/2012 01/18/2012 01/31/2012 0.06689 0.06689 - - -
12/15/2011 12/19/2011 12/30/2011 0.08336 0.08336 - - -
11/15/2011 11/17/2011 11/30/2011 0.07121 0.07121 - - -
10/14/2011 10/18/2011 10/31/2011 0.06828 0.06828 - - -
09/15/2011 09/19/2011 09/30/2011 0.06984 0.06984 - - -
08/15/2011 08/17/2011 08/31/2011 0.06413 0.06413 - - -
07/15/2011 07/19/2011 07/29/2011 0.10699 0.10699 - - -
06/15/2011 06/17/2011 06/30/2011 0.08250 0.08250 - - -

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

Fund Inception: 05/05/2011

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

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.

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

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

There is no assurance that the Fund will provide low volatility.

The S&P 500® Index is an unmanaged index considered representative of the U.S. stock market.

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

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 02/12/2016
4:00 PM EST

SPLV
Intraday Stats

  • Last Trade $37.16
  • Current IIV $37.21
  • Change $0.46
  • % Change 1.25%
as of 02/12/2016
  • NAV at market close $37.14
as of 02/12/2016

Fund Yield

  • SEC 30 Day Yield 2.31%
  • Distribution Rate 2.28%
  • 12 Month Distribution Rate 2.55%
  • 30-Day SEC Unsubsidized Yield
    as of 02/11/2016
    2.34%
as of 02/12/2016

Prior Close

  • Closing Price $36.70
  • Bid/Ask Midpoint $37.14
  • Bid/Ask Prem/Disc -
  • Bid/Ask Prem/Disc -
as of 12/31/2015

Fund Characteristics

  • Price/Earnings Ratio1 19.57
  • Price/Book Ratio1 3.05
  • ROE2 29.59%
  • Avg Market Cap2 $46,959MM

1 Weighted Harmonic Average

2 Weighted Average

Fund Details

  • Fund Ticker SPLV
  • CUSIP # 73937B779
  • ISIN US73937B7799
  • Intraday NAV SPLVIV
  • Index Ticker SP5LVIT
  • Index Provider S&P Dow Jones Indices LLC
  • Management Fee 0.25%
  • Total Expense Ratio 0.25%
  • Marginable Yes
  • Short Selling Yes
  • Options Yes
  • Exchange NYSE Arca
  • Inception Date 05/05/2011
  • # of Holdings 100
    as of 02/12/2016
as of 02/12/2016

Quick Facts

  • Previous Close $36.70
  • Open $36.86
  • Today's High $37.16
  • Today's Low $36.82
  • Today's Volume 5,334,881
  • 52 Week High $39.24
  • 52 Week Low $20.00
  • Shares Outstanding 151.35MM
  • Market Value $5,621.3MM