Fund Description: Invesco S&P 500® High Dividend Low Volatility ETF, formerly PowerShares S&P 500 High Dividend Low Volatility Portfolio, formerly PowerShares S&P 500 High Dividend 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 S&P 500® High Dividend Low Volatility ETF seeks investment results that correspond generally to the price and yield, before fees and expenses, of the S&P 500 Low Volatility High Dividend Index. INDEX DESCRIPTION: The S&P 500 Low Volatility High Dividend Index is designed to track the performance of the 50 securities in the S&P 500 Index with the highest dividend yield and lower volatility. The Index Provider (Standard & Poor's) measures the dividend yield of every security in the S&P 500 Index over the past 12 months and selects the 75 securities with highest dividend yield during that time, with no one sector within the S&P 500 Index allowed to contribute more than 10 securities to the Index. The Index Provider then measures the realized volatility of each of these 75 highest dividend yield securities over the past 12 months and, from this group, selects the 50 securities with the lowest volatility for inclusion in the Index. Volatility is a statistical measurement of the magnitude of up and down asset price fluctuations (increases or decreases in a stock's price) over time. The Index Provider weights each of the 50 securities in the Index by its dividend yield, with the highest dividend-yielding securities receiving the highest weights. The weight for each constituent will range between 0.05% and 3.0% of the Index, and the weight of each sector is capped at 25% of the Index. The Index Provider rebalances the Index semi-annually at the close of the last business day in January and July. The Index Provider will add or remove securities from the Index only at the time of the semi-annual rebalancing. However, if a constituent security is removed from the S&P 500 Index, S&P will remove the security simultaneously from the Index. FUND STRATEGY: The Fund generally will invest at least 90% of its total assets in securities that comprise the Index. The Fund uses an indexing investment approach to attempt to replicate, before fees and expenses, the performance of the Index. The Fund generally invests in all of the securities comprising the Index in proportion to the weightings of the securities in the Index. However, under various circumstances, it may not be possible or practicable to purchase all of those securities in those same weightings. In those circumstances, the Fund may purchase a sample of securities in the Index. There also may be instances in which the Adviser may choose to (i) overweight another stock in the Index, (ii) purchase securities not contained in the Index that the Adviser believes are appropriate to substitute for certain securities in the Index, or (iii) utilize various combinations of other available investment techniques in seeking to track the Index. The Fund may sell securities included in the Index in anticipation of their removal from the Index, or purchase securities not included 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.