PowerShares KBW Bank ETF

The investment seeks to track the investment results (before fees and expenses) of the KBW Nasdaq Bank Index (the "underlying index"). The fund generally will invest at least 90% of its total assets in securities of national money centers, regional banks and thrift institutions that are listed on a U.S. national securities exchange and that comprise the underlying index. The underlying index is a modified-market capitalization-weighted index that seeks to reflect the performance of national money centers, regional banks and thrift institutions that are publicly traded in the U.S. The fund is non-diversified.