Fund Description: Invesco Dynamic Food & Beverage ETF, formerly PowerShares Dynamic Food & Beverage 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 Food & Beverage ETF seeks investment results that correspond generally to the price and yield (before the Fund's fees and expenses) of the Dynamic Food & Beverage Intellidex Index (AMEX ticker symbols: Index: DZF, Intraday NAV: FJW). INDEX DESCRIPTION: The Food & Beverage Intellidex is comprised of stocks of 30 U.S. food and beverage companies. These are companies that are principally engaged in the manufacture, sale or distribution of food and beverage products, agricultural products and products related to the development of new food technologies. These companies may include, for example, companies that sell products and services, such as meat and poultry processing and wholesale and retail distribution, and warehousing of food and food-related products, including restaurants, grocery stores, brewers, distillers and vintners; companies that manufacture and distribute products including soft drinks, packaged food products (such as cereals, pet foods, and frozen foods), health food and dietary products. FUND STRATEGY: The Fund will normally invest at least 80% of its total assets in common stocks of food and beverage companies. The Fund will normally invest at least 90% of its total assets in common stocks that comprise the Food & Beverage 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.