Fund Description: Invesco Dynamic Building & Construction ETF, formerly The PowerShares Dynamic Building & Construction 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 Building & Construction ETF seeks investment results that correspond generally to the price and yield (before the Fund's fees and expenses) of the Dynamic Building & Construction Intellidex Index (AMEX ticker symbols: Index: DWC, Intraday NAV: HKB). INDEX DESCRIPTION: The Building & Construction Intellidex is comprised of stocks of 30 U.S. building and construction companies. These are companies that are primarily engaged in providing construction and related engineering services for building and remodeling residential properties, commercial or industrial buildings, or working on large-scale infrastructure projects, such as highways, tunnels, bridges, dams, power lines and airports. These companies may also include manufacturers of building materials for home improvement and general construction projects and specialized machinery used for building and construction; companies which provide installation/maintenance/repair work; and land developers. Stocks are selected principally on the basis of their capital appreciation potential as identified by the AMEX pursuant to a proprietary Intellidex methodology. The Intellidex is adjusted quarterly. FUND STRATEGY: The Fund will normally invest at least 80% of its total assets in common stocks of building and construction companies. In pursuit of its objective, the Fund will normally invest at least 90% of its total assets in common stocks that comprise the Building & Construction Intellidex. The Fund, using an "indexing" investment approach, attempts to replicate, before expenses, the performance of the Building & Construction Intellidex. The Adviser seeks a correlation of 0.95 or better between the Fund's performance and the performance of the Building & Construction Intellidex; a figure of 1.00 would represent perfect correlation. The Fund generally will invest in all of the stocks comprising the Building & Construction Intellidex in proportion to their weightings in the Building & Construction Intellidex. However, under various circumstances, it may not be possible or practicable to purchase all of those stocks in those weightings. In those circumstances, the Fund may purchase a sample of stocks in the Building & Construction Intellidex. There may also be instances in which the Adviser may choose to overweight another stock in the Building & Construction Intellidex, purchase securities not in the Building & Construction Intellidex which the Adviser believes are appropriate to substitute for certain securities in the Building & Construction Intellidex or utilize various combinations of other available investment techniques, in seeking to track accurately the Building & Construction Intellidex. FUND MANAGEMENT: Invesco Capital Management LLC serves as the investment adviser to the Fund.