PowerShares High Yield Equity Dividend Achievers Portfolio (the Fund) seeks investment results that correspond generally to the price and yield the Dividend Achievers 50 Index (the Index). The Index is designed to track the performance of the 50 companies with highest dividend yield, which meet the requirements to be classified as Dividend Achievers. The Fund will normally invest at least 90% of its total assets in dividend paying common stocks that comprise the Index. The Index seeks to deliver high current dividend income and capital appreciation. It is composed of the 50 highest yielding companies with at least 10 fiscal years of consecutive annual dividend increases. The yield-weighted portfolio is rebalanced quarterly and reconstituted annually. It invests in sectors, such as consumer discretionary, consumer staples, financials, healthcare, industrials, materials, telecommunication services and utilities. The Fund’s investment advisor is Invesco PowerShares Capital Management LLC.