Invesco PowerShares Leading the Intelligent ETF Revolution(r)
Welcome, Guest
Sign In  |  Register
Search
 
 
 
 
 

The PowerShares Build America Bond Portfolio (Fund) is based on The BofA Merrill Lynch Build America Bond Index (Index). The Fund will normally invest at least 80% of its total assets in the securities that comprise the Index. The Index is designed to track the performance of U.S. dollar-denominated Build America Bonds publicly issued by U.S. states and territories, and their political subdivisions, in the U.S. market.

Go to:   Performance | Distributions | Maturity
Literature:  Prospectus | Fact Sheet | Investor Guide
Links:   Fund Holdings | Interactive Charting | Download Historical NAVs

Date   9/1/2010  
Price   26.79  
Bid/Ask Midpoint   26.73  
 
NAV   26.75  
Bid/Ask Prem/Disc   -0.02  
Bid/Ask Prem/Disc   -0.09%  

 As of 6/30/2010
Index History (%)1 Year3 Year5 Year10 YearFund Inceptiona
The BofA Merrill Lynch Build America Bond Index 6.06
The BofA Merrill Lynch US Treasuries 15+ Years 7.30
The BofA Merrill Lynch US Corporate Master Index 5.03
Barclays Capital US Aggregate Index3.69
Fund History (%)1 Year3 Year5 Year10 YearFund Inceptiona
NAV7.85
After Tax Held6.71
After Tax Sold5.06
Market Price8.07

This is a new Fund and therefore has no full-year Fund performance to report as of the most recent quarter end. As stated in the Fund's prospectus, the expense ratio of 0.35% is expressed as a unitary fee to cover expenses incurred in connection with managing the portfolio. However, the Adviser has voluntarily agreed to waive 0.07% of its Advisory Fee for its investment advisory services to the Fund. After giving effect to such voluntary waiver, the Advisory Fee will be 0.28%. The Advisory Fee waiver may be amended or terminated at any time.

aFund and underlying Index returns are based on the inception date of the Fund. Returns for the benchmark indexes are based on the closest month end to the Fund's inception date.
Monthly Standardized Report


Market returns are based on the midpoint of the bid/ask spread at 4 p.m. ET and do not represent the returns an investor would receive if shares were traded at other times. Performance data quoted represents past performance, which is not a guarantee of future results. Investment returns and principal value will fluctuate, and shares, when redeemed, may be worth more or less than their original cost. Current performance may be higher or lower than performance data quoted. After-tax returns reflect the highest federal income tax rate but exclude state and local taxes. Fund performance reflects fee waivers, absent which, performance data quoted would have been lower. After Tax Held and After Tax Sold are based on NAV.


An investor cannot invest directly in an index. The results assume that no cash was added to or assets withdrawn from the Index. Index returns do not represent Fund returns. The Index does not charge management fees or brokerage expenses, nor does the Index lend securities, and no revenues from securities lending were added to the performance shown.

  Bid/Ask MidPoint Above NAV Bid/Ask Midpoint Below NAV
Quarter Days 50-99
Basis Points		 100-199
Basis Points		 H200
Basis Points		 50-99
Basis Points		 100-199
Basis Points		 H200
Basis Points
6/30/2010 63 7 1 0 2 0 0
3/31/2010 61 0 0 0 1 0 0
12/31/2009 31 2 0 0 1 0 0
Fund Inception: 11/17/2009

Ex-DateRecord DatePay Date$ / ShareOrdinary IncomeShort Term GainsLong Term GainsReturn of Capital
8/13/20108/17/20108/31/20100.121000.12100N.A.N.A.N.A.
7/15/20107/19/20107/30/20100.123120.12312N.A.N.A.N.A.
6/15/20106/17/20106/30/20100.124460.12446N.A.N.A.N.A.
5/14/20105/18/20105/28/20100.129090.12909N.A.N.A.N.A.
4/15/20104/19/20104/30/20100.125000.12500N.A.N.A.N.A.
3/15/20103/17/20103/31/20100.130100.13010N.A.N.A.N.A.
2/12/20102/17/20102/26/20100.125670.12567N.A.N.A.N.A.
1/5/20101/7/20101/29/20100.127000.12700N.A.N.A.N.A.
 
Distribution Information


Fund Holdings subject to change  
 Coupon RateMaturity DateRating†Weight
WISCONSIN ST 5.00% 05/01/20325.00%5/1/2032AA/AA21.89%
MASSACHUSETTS STATE 4.5% 08/01/20314.50%8/1/2031AA/AA11.88%
NEW YORK NY 5.968% 03/01/20365.97%3/1/2036AA/Aa21.84%
CALIFORNIA ST 7.300% 10/01/20397.30%10/1/2039A-/A11.76%
CALIFORNIA ST 7.625% 03/01/20407.63%3/1/2040A-/A11.60%
MIAMI-DADE COUNTY FL OBLIG 6.743% 04/01/20406.74%4/1/2040A+/AA31.37%
COWLITZ CNTY WASH PUB UTIL DIS 6.884% 09/01/20326.88%9/1/2032NR/A11.34%
CALIFORNIA ST 5.950% 03/01/20185.95%3/1/2018A-/A11.22%
SO JERSEY PORT CORP NJ REV 7.365% 01/01/20407.37%1/1/2040A/Aa31.07%
MISSISSIPPI DEV BK SPL OBLIG 6.413% 01/01/20406.41%1/1/2040AA-/Aa31.05%
As of 9/1/2010
View All Fund Holdings


 
% of Fund 
0 - 1 years0.00 
1 - 50.99 
5 - 104.86 
10 - 157.78 
15 - 2025.88 
20 - 2521.37 
25 and Over39.11 
As of 9/1/2010
 
 % of Fund:
(S&P)		% of Fund:
(Moody's)
AAA/Aaa9.48 5.44
AA/Aa46.58 51.54
A/A30.61 30.15
BBB/Baa2.35 1.94
BB/Ba0.00 0.00
B/B0.00 0.00
Unrated10.99 10.93
As of 9/1/2010


†Credit ratings are assigned by Nationally Recognized Statistical Rating Organizations based on assessment of the credit worthiness of the underlying bond issuers. The ratings range from AAA (highest) to D (lowest) and are subject to change.

There are risks involved with investing in ETFs including the possible loss of money. The Fund is not actively managed and is subject to risks similar to stocks, including those related to short selling and margin maintenance. Ordinary brokerage commissions apply.

Municipal securities are subject to the risk that litigation, legislation or other political events, local business or economic conditions or the bankruptcy of the issuer could have a significant effect on an issuer’s ability to make payments of principal and/or interest. Municipal securities can be significantly affected by political changes as well as uncertainties in the municipal market related to taxation, legislative changes or the rights of municipal security holders. Because many securities are issued to finance similar projects, especially those relating to education, health care, transportation and utilities, conditions in those sectors can affect the overall municipal market. In addition, changes in the financial condition of an individual municipal insurer can affect the overall municipal market.

There is no guarantee that municipalities will continue to take advantage of the Build America Bond (BAB) program in the future and there can be no assurance that BABs will be actively traded. Furthermore, under the American Recovery and Reinvestment Act of 2009, the ability of municipalities to issue BABs expires on Dec. 31, 2010. If the BAB program is not extended, the number of BABs available in the market will be limited. In addition, illiquidity of the BABs may negatively affect the value of the BABs.

Fixed-income securities are subject to interest rate risk and credit risk. Generally, the prices of fixed-income securities tend to fall as interest rates rise. To the extent the Fund invests a substantial portion of its assets in fixed-income securities with longer term maturities, rising interest rates may cause the value of the Fund’s investments to decline significantly. If interest rates fall, it is possible that issuers of callable securities with high interest coupons will "call" (or prepay) their bonds before their maturity date. Credit risk refers to the possibility that the issuer of a security will be unable and/or unwilling to make timely interest payments and/or repay the principal on its debt, which may adversely affect the value of the security.

The Shares are subject to market fluctuations caused by such factors as economic, political, regulatory or market developments, changes in interest rates and perceived trends in securities prices.

The Fund's use of a representative sampling approach will result in its holding a smaller number of bonds than are in the underlying Index, and may be subject to greater volatility.

The Fund is non-diversified and can invest a greater portion of its assets in securities of individual issuers than a diversified fund.

Shares are not individually redeemable and owners of the Shares may acquire those Shares from the Fund and tender those Shares for redemption to the Fund in Creation Unit aggregations only, typically consisting of 50,000 Shares.

"BofA Merrill Lynch" and "The BofA Merrill Lynch Build America Bond IndexSM" are reprinted with permission. ©Copyright 2009 Merrill Lynch, Pierce, Fenner & Smith Incorporated ("BofA Merrill Lynch"). All rights reserved. "BofA Merrill Lynch" and "The BofA Merrill Lynch Build America Bond IndexSM" are service marks of BofA Merrill Lynch and/or its affiliates and have been licensed for use for certain purposes by PowerShares on behalf of the PowerShares Build America Bond Portfolio that is based on The BofA Merrill Lynch Build America Bond IndexSM, and is not issued, sponsored, endorsed or promoted by BofA Merrill Lynch and/or BofA Merrill Lynch's affiliates nor is BofA Merrill Lynch and/or BofA Merrill Lynch's affiliates an adviser to the PowerShares Build America Bond Portfolio. BofA Merrill Lynch and BofA Merrill Lynch's affiliates make no representation, express or implied, regarding the advisability of investing in the PowerShares Build America Bond Portfolio or The BofA Merrill Lynch Build America Bond IndexSM and do not guarantee the quality, accuracy or completeness of The BofA Merrill Lynch Build America Bond Index IndexSM, index values or any index related data included herein, provided herewith or derived therefrom and assume no liability in connection with their use. As the index provider, BofA Merrill Lynch is licensing certain trademarks, The BofA Merrill Lynch Build America Bond IndexSM and trade names which are composed by BofA Merrill Lynch without regard to PowerShares, the PowerShares Build America Bond Portfolio or any investor. BofA Merrill Lynch and BofA Merrill Lynch's affiliates do not provide investment advice to PowerShares or the PowerShares Build America Bond Portfolio and are not responsible for the performance of the PowerShares Build America Bond Portfolio.

The Barclays Capital U.S. Aggregate Index is an unmanaged index considered representative of the U.S. investment-grade, fixed-rate bond market.

For more information regarding the PowerShares Build America Bond Portfolio or any of the Invesco PowerShares products, please call 800.983.0903.
As of 9/2/2010 12:13 PM EST
Last Trade $26.67
Current IIV $26.55
Change -0.11
% Change -0.43%
As of 9/1/2010
Market Close
NAV 26.75
As of 9/1/2010
SEC 30 Day Yield 5.16%
Distribution Yield 5.43%
12 Month Yield N/A
As of 8/27/2010
Effective Duration 11.11yrs
Modified Duration 9.79yrs
Yield to Maturity 5.84%
Yield to Worst 5.73%
Years to Maturity 22.70
Weighted Avg Coupon 6.33%
Weighted Avg Price
as of 9/1/2010		 106.15
As of 9/2/2010
Previous Close $26.79
Open $26.73
Today's High $26.74
Today's Low $26.62
Today's Volume 78,267
52 Week High $27.08
52 Week Low $24.09
Shares Outstanding 20.2MM
Market Value $540.4MM
Fund Ticker BAB
CUSIP # 73937B407
ISIN US73937B4077
Intraday NAV BAB.IV
Index Ticker BABS
Index Provider  BofA Merrill Lynch
Expense Ratio 0.35%
Marginable Yes
Short Selling Yes
Options No
Exchange NYSE Arca
Inception Date 11/17/2009
# of Holdings
as of 9/1/2010		 284
1 year | 3 year | YTD
Interactive Charting
Calculation of the premium or discount of the Bid/Ask Midpoint price at the time of calculation of the NAV against such NAV.
The Intraday Indicative Value for an ETF is typically published under a seperate symbol every 15 seconds over the Consolidated Tape and calculated throughout the trading day based on the last sale prices of the securities specified for creation and redemption plus any estimated cash amounts associated with the creation unit, all on a per-ETF share basis.
A standard yield calculation developed by the Securities and Exchange Commission that allows for a common ground comparison of yield performance. It is based on the most recent 30-day period. It is calculated by dividing the net investment income (less expenses) per share over a 30-day period by the current maximum offering price.
The yield represents a single distribution from the fund and does not represent the total return of the fund. The yield is calculated by annualizing the most recent distribution and dividing by the fund NAV from the as of date. N/A will be displayed if the fund did not make a distribution in the most recent quarter.
The sum of a fund's total trailing 12-month interest and dividend payments divided by the last month's ending share price (NAV) plus any capital gains distributed over the same period.
For a description of the application of the Expense Cap and the Gross Ratio and Net Ratio please see the Fund's current prospectus.
Provides the total gross annual fund operating expenses per the Fund's current prospectus.
Provides the expected expense ratio charged to shareholders per the Fund's current prospectus and reflects the investment advisor's contractual agreement to waive a portion of its fees and/or pay Fund expenses at least until 9/2/2010.
The share price divided by earnings per share.
The price per share divided by accounting book value per share.
Net income divided by net worth.
The average market value of a company's outstanding securities, excluding current liabilities. Under $3.5 billion is generally considered small cap; $3.5 billion to $9 billion is mid cap; and over $9 billion is large cap.
The sum of each holding's price multiplied by its weight.
A method of calculating an average value that lessens the impact of large outliers and increases the impact of small ones.
This number indicates the number of trading days represented within the most recent quarter displayed.
New lower expenses. Click icon for more information.
A measure of a bond's sensitivity to interest rate changes that reflects the change in a bond's price given a change in yield. This duration measure is appropriate for bond with embedded options.
A measure of a bond's sensitivity to interest rate changes that reflects the change in a bond's price given a change in yield. This duration measure is appropriate for option-free bonds.
The amount by which a CEF's market price is greater or less than its NAV, expressed as a percent of NAV.
The lowest of all yield to calls or the yield to maturity.
The annualized rate of return on a bond held to maturity.
©2010 Invesco PowerShares Capital Management LLC
PowerShares® is a registered trademark of Invesco PowerShares Capital Management LLC (Invesco PowerShares). Invesco PowerShares Capital Management LLC and Invesco Distributors, Inc. are indirect, wholly owned subsidiaries of Invesco Ltd.
Invesco Distributors, Inc. is the distributor of the PowerShares Exchange-Traded Fund Trust, the PowerShares Exchange-Traded Fund Trust II, the PowerShares India Exchange-Traded Fund Trust and the PowerShares Actively Managed Exchange-Traded Fund Trust.
Investment products offered are: Not FDIC Insured  • No Bank Guarantee  • May Lose Value
View the Legal Notice