Fund Description: Invesco BuyBack Achievers ETF, formerly PowerShares Buyback Achievers Portfolio, is an exchange-traded index fund or Index ETF which is a separate portfolio of the Invesco Exchange-Traded Fund Trust II, formerly PowerShares Exchange-Traded Fund Trust, an open-end investment management company. INVESTMENT OBJECTIVE: The Invesco BuyBack Achievers ETF seeks investment results that correspond generally to the price and yield (before the Fund's fees and expenses) of the Share BuyBack Achievers Index. INDEX DESCRIPTION: The Share BuyBack Achievers Index is currently comprised of stocks of 167 companies selected by Mergent, Inc. (the Index Provider) pursuant to a proprietary selection methodology. To qualify as a stock included in the universe of BuyBack Achievers, an issuer must have repurchased at least 5% of its outstanding shares for the trailing 12 months. The Index is rebalanced on the last trading date of April, July and October based on the constituents' modified market capitalizations as of the last trading day in March, June and September, respectively. The universe of companies is weighted according to a modified market capitalization, using each company's eligible shares outstanding and the closing price at the company's last trading day in December. No single company may exceed 5% of the Index as of either a reconstitution or rebalance date. FUND STRATEGY: The Fund will normally invest at least 90% of its total assets in common stocks that comprise the BuyBack Achievers Index. 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.