Fund Description: Invesco S&P 500® ex-Rate Sensitive Low Volatility ETF, formerly PowerShares S&P 500 ex-Rate Sensitive 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 500® ex-Rate Sensitive 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 Rate Response Index. INDEX DESCRIPTION: The S&P 500 Low Volatility Rate Response Index is designed to provide exposure to the 100 constituents of S&P 500 Index that exhibit both low volatility and low interest rate risk. The Index is designed to include stocks exhibiting low volatility characteristics, after removing stocks that historically have performed poorly in rising interest rate environments. 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, S&P Dow Jones Indices LLC, determines a stock’s rate sensitivity by performing a regression of the stock’s returns over a five-year period to changes in interest rates over that same period. The Fund generally invests in all of the securities comprising the Index in proportion to their weightings in the Index. FUND STRATEGY: The Fund generally will invest at least 90% of its total assets in common stocks that comprise the Index. FUND MANAGEMENT: Invesco Capital Management LLC serves as the investment adviser to the Fund.