PowerShares Dynamic Retail Portfolio (the Fund) is based on the Dynamic Retail 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 thoroughly evaluates 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 Fund will 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.