PowerShares Dynamic Semiconductors Portfolio (the Fund) is based on the Dynamic Semiconductors Intellidex Index (Index) and seeks investment results that correspond generally to the price and yield (before the Fund’s fees and expenses) of that equity index. The Index is designed to provide capital appreciation by thoroughly evaluating companies based on a variety of investment merit criteria, including fundamental growth, stock valuation, investment timeliness and risk factors. The Fund will normally invest at least 90% of its total assets in common stocks that comprise the Index. The Index consists of stocks of 30 United States semiconductors companies. The Fund’s investment advisor is Invesco PowerShares Capital Management LLC.