PowerShares Global Steel Portfolio (the Fund) is an exchange-traded fund (ETF) based on the NASDAQ OMX Global Steel Index (the Index). The Index is designed to measure the overall performance of globally traded securities of the largest and most liquid companies involved in the manufacturing and storage of iron and steel products. The Index is rebalanced quarterly using a modified, market-cap-weighted methodology. The Fund’s investment advisor is Invesco PowerShares Capital Management LLC.