Powershares Value Line Industry Rotation Portfolio (the Fund) seeks investment results that correspond generally to the equity index called the Value Line Industry Rotation Index (the Index). The Fund will invest at least 90% of its total assets in common stocks that comprise the Index. The Index comprises of 75 stocks chosen based on their Timeliness rank and their industry Timeliness rank. The Index includes the highest ranked stock for Timeliness from each of the 50 highest rated industries ranked based on industry Timeliness, and the second highest ranked stock for Timeliness from each of the top 25 industries ranked based on industry Timeliness ranks. Stocks in the Index will be selected by Value Line Publishing, Inc. (the Index Provider). The Fund’s investment adviser is Invesco PowerShares Capital Management LLC.