CHICAGO, IL--(Marketwire - May 22, 2008) - Invesco PowerShares Capital Management LLC, a
leading provider of exchange-traded funds (ETFs), announced today that on
May 1, 2008, the PowerShares Dynamic Market Portfolio (
AMEX:
PWC)
celebrated its five-year anniversary. Since its inception through May 1,
2008, PWC outpaced the S&P 500® Index by a cumulative 21.76% and the
Lipper Multi-Cap Core Mutual Fund Average by a cumulative 14.25%, without
distributing a capital gain to its shareholders.
"We are proud to commemorate the five-year anniversary of the first
PowerShares ETF, and the Intellidex upon which it is based," said Bruce
Bond, president and CEO of Invesco PowerShares. "A truly pioneering Fund,
PWC marked the ETF industry's expansion beyond traditional benchmarking and
toward intelligent indexing. Over the past five years, PWC's outperformance
against its benchmark and the fact it has made no capital-gains
distributions illustrate the market-changing force of the PowerShares
Intelligent ETF offerings."
For the five-year period ended May 1, 2008:
PowerShares Dynamic Market Portfolio (
AMEX:
PWC) had an annualized return
of 13.38% and cumulative return of 87.36%, outperforming the S&P 500, that
had an annualized return of 10.61% and cumulative return of 65.60%, and the
Lipper Multi-Cap Core Mutual Fund Average which had an annualized return of
11.60% and cumulative return of 73.11%. This performance was achieved with
similar risk characteristics as the market, as the fund had a beta of 1.02
for the five-year period.
As of March 31, 2008, the fund's standardized performance for the one-year
period was -9.34% and 12.24% since inception. Performance data quoted represents past
performance. As stated in the Fund's prospectus, the gross annual fund
operating expense ratio was 0.62%. However, the Advisor has contractually
agreed to waive fees and/or pay certain Fund expenses which resulted in a
lower fee actually paid by investors. These waivers and reimbursement
contracts are reviewed by the Board annually and extend through at least
April 30, 2008. Past performance is not a guarantee of future results;
current performance may be higher or lower than performance quoted.
Investment returns and principal value will fluctuate and Shares, when
redeemed, may be worth more or less than their original cost. The Shares'
performance reflects fee waivers, absent which performance would have been
lower. See invescopowershares.com to find the most recent
month-end performance numbers. After Tax Held represents total return after
taxes on distributions and assumes Shares have not been sold. After Tax
Sold represents total return after taxes on distributions and the sale of
Fund Shares. After-tax returns reflect the highest federal income tax rate
but exclude state and local taxes.
Please see the standardized performance table below for complete
performance information.
The PowerShares Dynamic Market Portfolio (
AMEX:
PWC), along with the family
of 39 other Dynamic ETFs, seek to provide alpha through a patented,
enhanced indexing methodology. The AMEX Intellidex® Methodology
("Intellidex") is a quantitative, rules-based selection process that
evaluates companies based on a variety of investment merit criteria,
including fundamental growth, stock valuation, investment timeliness and
risk factors, rather than by market-cap alone.
Additionally, 100% of the three Broad Market Intellidexes and 75% of the 21
Style and Sector Intellidexes have outperformed their respective benchmarks
over the past five years.
"The success of the Intellidex illustrates this methodology's ability to
provide investors with
long-term alpha," said John Southard, Managing Director, Portfolio
Strategies of Invesco PowerShares.
Performance Summary
Initial 5-Year Period
5/01/2003 - 4/30/2008
5 Year
PowerShares Dynamic Market Portfolio 1 Year 3 Year Inception
------------------------------------ ------ ------ ---------
PWC - NAV -7.68% 27.94% 87.51%
PWC - Share Price -7.70% 27.98% 87.36%
S&P 500 Index -4.68% 26.76% 65.60%
Russell 3000 -5.16% 28.21% 71.60%
Standardized Performance
5/01/2003 - 3/31/2008
PowerShares Dynamic Market Portfolio 1 Year 3 Year Inception
------------------------------------ ------ ------ ---------
PWC - NAV -9.34% 5.15% 12.24%
PWC - Share Price -9.31% 5.16% 12.24%
S&P 500 Index -5.08% 5.84% 9.74%
Russell 3000 -6.06% 6.10% 10.51%
Source: Invesco PowerShares Capital Management LLC
Invesco PowerShares is leading the intelligent ETF revolution through its
family of more than 100 domestic, international and active exchange-traded
funds. With assets under management of $12.75 billion, PowerShares ETFs
trade on all of the major U.S. stock exchanges that trade ETFs. For more
information, please visit us at
www.invescopowershares.com.
Invesco PowerShares is a part of Invesco Ltd., a leading independent global
investment management company dedicated to helping people worldwide build
their financial security. By delivering the combined power of its
distinctive worldwide investment management capabilities, including AIM,
Atlantic Trust, Invesco, Perpetual, PowerShares, Trimark, and WL Ross,
Invesco provides a comprehensive array of enduring investment solutions for
retail, institutional and high-net-worth clients around the world.
Operating in 20 countries, the company is currently listed on the New York
Stock Exchange under the symbol IVZ. Additional information is available at
www.invesco.com.
Important Risk Information
There are risks involved with investing in ETFs, including possible loss of
money. The Fund is not actively managed and is subject to risk similar to
stocks. Shares are subject to risks including those associated with
investing in small and medium-sized companies, foreign securities and
industry-specific risk. Please see the prospectus for more complete
information regarding an investment in the Fund. The Industry Intellidex
family of indexes has been left out of the comparison due to lack of
available benchmarks.
Shares are not FDIC insured, may lose value and have no bank guarantee.
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 100,000
shares.
Invesco Aim Distributors, Inc. is the distributor of the PowerShares
Exchange-Traded Fund Trust.
Invesco PowerShares Capital Management LLC., Invesco Aim Distributors, Inc.
and Invesco Institutional (N.A.), Inc. are indirect, wholly owned
subsidiaries of Invesco Ltd.
An investor should consider the Fund's investment objective, risks, charges
and expenses carefully before investing. For this and more complete
information about the Fund call 800.983.0903 or visit the website
www.invescopowershares.com for a prospectus. Please read the prospectus
carefully before investing.
Contact Information: Media Contacts:
Kristin Sadlon
Porter Novelli
212-601-8192
Bill Conboy
BC Capital Partners
303-415-2290