PowerShares Dynamic Leisure and Entertainment Portfolio (the Fund) is based on the Dynamic Leisure & Entertainment Intellidex Index (the Index) and seeks investment results that correspond generally to the price and yield of the Index. The Fund consists mainly of consumer discretionary stocks with the majority of its weight in the hotels, restaurants and leisure industry with a small weighting in the media, and Internet and catalog retail industry. The Index is designed to provide capital appreciation by evaluating companies based on a variety of investment merit criteria, including fundamental growth, stock valuation, investment timeliness and risk factors. It will normally invest at least 90% of its total assets in common stocks that comprise the Index. The Fund’s investment advisor is Invesco PowerShares Capital Management LLC.