Fund Description: Invesco S&P MidCap 400® Pure Value ETF, formerly PowerShares S&P MidCap 400 Pure Value Portfolio, formerly Guggenheim S&P MidCap 400 Pure Value ETF, formerly Rydex S&P MidCap 400 Pure Value ETF, 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, formerly Rydex ETF Trust, an open-end investment management company. INVESTMENT OBJECTIVE: The Invesco S&P MidCap 400® Pure Value ETF seeks to replicate as closely as possible, before fees and expenses, the performance of the S&P Midcap 400 Pure Value Index. INDEX DESCRIPTION: The S&P Midcap 400 Pure Value Index is narrow in focus, containing only those S&P Midcap 400 companies with strong value characteristics as selected by Standard & Poor's. As of December 31, 2011, the Index included 97 of the constituents that comprise the S&P MidCap 400. FUND STRATEGY: The Fund uses a passive management strategy, known as replication, to track the performance of the Index. Replication refers to investing in substantially all of the securities in the Index in approximately the same proportions as in the Index. Under normal circumstances, the Fund will invest at least 90% of its net assets, plus any borrowings for investment purposes, in the equity securities (and derivatives thereof) included in the Index. Although the Advisor intends to use a replication strategy, the Fund may hold up to 10% of its assets in securities not included in the Index. As long as the Fund invests at least 90% of its total assets in securities included in the Index, the Fund may invest its other assets in futures contracts, options on futures contracts, options, and swaps related to the Index, as well as cash and cash equivalents. Certain of the Fund’s derivative investments may be traded in the over-the-counter (OTC) market. On a day-to-day basis, the Fund may hold U.S. Government securities or cash equivalents to collateralize its derivative positions. In an effort to make sure the Fund is fully invested on a day-to-day basis, the Fund may conduct any necessary trading activity at or just prior to the close of the U.S. financial markets. To the extent the Index is concentrated in a particular industry the Fund will necessarily be concentrated in that industry. The Fund is non-diversified and therefore may invest a greater percentage of its net assets in a particular issuer in comparison to a diversified fund. FUND MANAGEMENT: Invesco Capital Management LLC serves as the investment adviser to the Fund.