Fund Description: Invesco S&P 500 BuyWrite ETF, formerly PowerShares S&P 500 Buy Write Portfolio is an exchange-traded index fund or Index ETF which is a separate investment portfolio of the Invesco Exchange-Traded Fund Trust, formerly PowerShares Exchange-Traded Fund Trust, an open-end investment management company. INVESTMENT OBJECTIVE: Invesco S&P 500 BuyWrite ETF seeks investment results that correspond generally to the price and yield, before fees and expenses, of an equity index called the CBOE S&P 500 BuyWrite Index. INDEX DESCRIPTION: The CBOE S&P 500 BuyWrite measures total returns of a theoretical portfolio including the S&P 500 Index stocks on which S&P 500 Index call options are systematically written (sold) against the portfolio through a buy-write strategy. A buy-write, also called a covered call, generally is considered to be an investment strategy in which an investor buys a stock or basket of stocks, and also sells call options that correspond to the stock or basket of stocks. The Index is calculated by the Chicago Board Options Exchange, the CBOE or the Index Provider. FUND STRATEGY: The Fund, using an indexing investment approach, attempts to replicate the performance of the Index. The Fund will normally invest at least 80% of its total assets in in common stocks of the 500 companies included in the S&P 500 Index and will write call options thereon. The Fund will generally invest in all of the securities included in the S&P 500 Index in proportion to their weightings in the Index. In addition, each calendar month, in order to generate income on its portfolio holdings, the Fund will write one month call options on the Index (the Written Options). The Fund will hold the securities underlying the Written Options. The Written Options written in any month will have an exercise price generally at or above the prevailing market price of the Index. Such Written Options will generally be the prevailing price of the Index, and will expire in the next calendar month. The Written Options will be traded on a national securities exchange. The Written Options will only be subject to exercise on the expiration date, commonly referred to as European style options. The expired options, if exercised, are settled in cash. FUND MANAGEMENT: Invesco Capital Management LLC serves as the investment adviser to the Fund.