Fund Description: Invesco Dynamic Market ETF, formerly PowerShares Dynamic Market Portfolio is an exchange-traded index fund or index ETF which is a separate portfolio of the Invesco Exchange-Traded Fund Trust, formerly PowerShares Exchange-Traded Fund Trust, an open-end investment management company. INVESTMENT OBJECTIVE: The Invesco Dynamic Market ETF seeks investment results that correspond generally to the price and yield (before the Fund's fees and expenses,) of an equity index called the Dynamic Market Intellidex Index (AMEX ticker symbols: Index: DYI, Intraday NAV: FZM). INDEX DESCRIPTION: The Market Intellidex is comprised of 100 US stocks selected each quarter by the American Stock Exchange pursuant to a proprietary method. The Market Intellidex uses market-like sector weightings and market-cap groupings in seeking to produce a sector and size dispersion similar to the overall broad market. The 2,000 largest U.S. stocks (by market capitalization) traded on the New York Stock Exchange, the American Stock Exchange and the NASDAQ are ranked for investment potential using a proprietary AMEX Intellidex model. Companies are ranked quarterly, based on a variety of criteria including fundamental growth, stock valuation, timeliness and risk factors and then sorted based on their cumulative score on the above criteria, One hundred companies are then selected from the top of each sector and size. FUND STRATEGY: The Fund will normally invest at least 90% of its total assets in common stocks that comprise the Market Intellidex. The Fund, using an "indexing" investment approach, attempts to replicate, before fees and expenses, the performance of the Index. The Adviser seeks correlation over time of 0.95 or better between the Fund's performance and the performance of the Index; a figure of 1.00 would represent perfect correlation. The Fund generally will invest in all of the securities comprising the Index in proportion to their weightings in the Index. However, under various circumstances, it may not be possible or practicable to purchase all of those securities in those weightings. In those circumstances, the Fund may purchase a sample of securities in the Index as a whole. There may also be instances in which the Adviser may choose to overweight another security in the Index, purchase securities not in the Index which the Adviser believes are appropriate to substitute for certain securities in the Index or utilize various combinations of other available investment techniques, in seeking to track the Index. The Fund may sell securities that are represented in the Index in anticipation of their removal from the Index or purchase securities not represented in the Index in anticipation of their addition to the Index. FUND MANAGEMENT: Invesco Capital Management LLC serves as the investment adviser to the Fund.