Fund Description: Invesco National AMT-Free Municipal Bond ETF, formerly PowerShares National AMT-Free Municipal Bond Portfolio, formerly PowerShares Insured National Municipal Bond 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 II, an open-end investment management company. INVESTMENT OBJECTIVE: The Invesco National AMT-Free Municipal Bond ETF seeks investment results that generally correspond, before fees and expenses, to the price and yield of The BofA Merrill Lynch National Long-Term Core Plus Municipal Securities Index, formerly BofA Merrill Lynch Insured National Long-Term Core Municipal Securities Index. INDEX DESCRIPTION: The BofA Merrill Lynch National Long-Term Core Plus Municipal Securities Index is composed of U.S. dollar-denominated, investment grade, tax-exempt debt publicly issued by U.S. states and territories, or their political subdivisions, in the U.S. domestic market with a term of at least 15 years remaining to final maturity. The Index is adjusted monthly and its constituents are capitalization-weighted based on their current amount outstanding. The Fund and the Index are rebalanced and reconstituted monthly. FUND STRATEGY: The Fund generally will invest at least 80% of its total assets in municipal securities that comprise the Index and that also are exempt from the federal alternative minimum tax. The Fund does not purchase all of the securities in the Index; instead, the Fund utilizes a sampling methodology to seek to achieve its investment objective. FUND MANAGEMENT: Invesco Capital Management LLC serves as the investment adviser to the Fund.