Fund Description: Invesco S&P MidCap Low Volatility ETF, formerly PowerShares S&P MidCap Low Volatility 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 MidCap Low Volatility ETF seeks investment results that correspond generally to the price and yield, before fees and expenses, of the S&P MidCap 400 Low Volatility Index. INDEX DESCRIPTION: The S&P MidCap 400 Low Volatility Index is a subset of the S&P MidCap 400 Index, which is comprised of U.S.-listed equity securities of 400 mid-sized companies based on market capitalization (historically, companies with market capitalizations between $1 billion and $4.4 billion). S&P, the Index Provider, measures the volatility that every security in the S&P MidCap 400 Index has realized over the trailing 12 months and then selects the 80 securities with the lowest volatility to comprise the Index. S&P weights all 80 securities in the Index based upon the inverse of each security's volatility, with the least volatile securities receiving the highest weights in the Index. S&P rebalances the Index quarterly in February, May, August and November and makes additions to the Index only during that quarterly rebalancing. Constituents only are eligible for inclusion in the Index if they have been listed for trading for an entire year prior to a quarterly rebalancing date. Constituents that are removed from the S&P MidCap 400 Index are removed from the Index simultaneously, and S&P will adjust the weights of the remaining securities in the Index accordingly. FUND STRATEGY: The Fund will normally invest at least 90% of its total assets in common stocks that comprise the Index. The Fund, using an indexing investment approach, attempts to replicate, before expenses, the performance of the Index. The Fund generally invests in all of the securities comprising its 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, a Fund may purchase a sample of securities in its Index. There also may be instances in which the Adviser may choose to (i) overweight a security in an Index, (ii) purchase securities not contained in an 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 an Index. The Fund may sell securities included in its Index in anticipation of their removal from the Index, or purchase securities not included in its Index in anticipation of their addition to the Index. FUND MANAGEMENT: Invesco Capital Management LLC serves as the investment adviser to the Fund.