Fund Description: Invesco S&P Spin-Off ETF, formerly PowerShares S&P Spin-Off Portfolio, formerly Guggenheim S&P Spin-Off ETF, formerly Guggenheim Spin-Off ETF, formerly the Claymore/Beacon Spin-Off ETF, formerly the Claymore/Clear Spin-Off ETF, is an exchange-traded index fund or Index ETF that is a separate investment portfolio of the Invesco Exchange-Traded Fund Trust, formerly PowerShares Exchange-Traded Fund Trust, formerly Claymore Exchange-Traded Fund Trust, open-end investment management company. INVESTMENT OBJECTIVE: The Invesco S&P Spin-Off ETF seeks investment results that correspond generally to the performance, before the Fund’s fees and expenses, of the S&P U.S. Spin¬Off Index, formerly Beacon Spin-Off Index. INDEX DESCRIPTION: The S&P U.S. Spin¬Off Index is designed to measure the performance of U.S. companies that have been spun off from larger corporations within the past four years. The Index is comprised of equity securities of U.S. companies added to the S&P United States BMI, a country sub-index of the S&P Global BMI, that have been spun off and have a float-adjusted market capitalization of at least $1 billion. S&P Dow Jones Indices LLC, the Index Provider, defines a spin-off company as any company resulting from one of the following events: Spin-off: The spin-off distribution of shares of a subsidiary company by its parent company to parent company shareholders; Carve-out: The sale by a parent company of a percentage of the equity of a subsidiary to public shareholders; and Split-off: The distribution of shares of a subsidiary company by its parent company to parent company shareholders that elect to redeem their shares in the parent company in return for shares of the subsidiary company. FUND STRATEGY: The Fund, using a passive or indexing investment approach, seeks to replicate the performance of the Index. The Fund generally will invest in all of the stocks 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 the stocks in the Index in those weightings. In those circumstances, the Fund may purchase a sample of the stocks in the Index in proportions expected by the Adviser to replicate generally the performance of the Index as a whole. There may also be instances in which the Adviser may choose to overweight another stock in the Index, purchase (or sell) securities not in the Index which the Adviser believes are appropriate to substitute for one or more Index components, or utilize various combinations of other available investment techniques, in seeking to accurately track the Index. In addition, from time to time stocks are added to or removed from the Index. The Fund may sell stocks that are represented in the Index or purchase stocks that are not yet represented in the Index in anticipation of their removal from or addition to the Index. FUND MANAGEMENT: Invesco Capital Management LLC serves as the investment adviser to the Fund.