Fund Description: Invesco Preferred ETF, formerly PowerShares Preferred Portfolio is an exchange-traded index fund or Index ETF which is a separate investment portfolio of the formerly PowerShares Exchange-Traded Fund Trust II, an open-end investment management company. INVESTMENT OBJECTIVE: The Invesco Preferred ETF seeks investment results that correspond generally to the price and yield, before fees and expenses, of a securities index called the BofA Merrill Lynch Core Fixed Rate Preferred Securities Index. INDEX DESCRIPTION: The BofA Merrill Lynch Core Fixed Rate Preferred Securities Index is a market capitalization-weighted index designed to reflect the total return performance of the fixed rate U.S. dollar-denominated preferred securities market. The Index includes traditional preferred securities and other preferred securities, including preferred securities issued by foreign companies in the form of American Depository Shares. Most of the preferred securities included in the Index are traded on national securities exchanges; however, a small percentage are traded in the over-the-counter market. FUND STRATEGY: The Fund will normally invest at least 80% of its total assets in fixed rate U.S. dollar-denominated preferred securities. The Fund will normally invest at least 80% of its total assets in the securities that comprise the Index. The Fund does not purchase all of the securities in the Index. Instead, utilizes a sampling methodology in seeking to achieve the Fund’s investment objective. FUND MANAGEMENT: Invesco Capital Management LLC serves as the investment adviser to the Fund.