0001104659-12-072658.txt : 20121031 0001104659-12-072658.hdr.sgml : 20121031 20121031150030 ACCESSION NUMBER: 0001104659-12-072658 CONFORMED SUBMISSION TYPE: 485BPOS PUBLIC DOCUMENT COUNT: 7 FILED AS OF DATE: 20121031 DATE AS OF CHANGE: 20121031 EFFECTIVENESS DATE: 20121031 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PowerShares Exchange-Traded Fund Trust II CENTRAL INDEX KEY: 0001378872 IRS NUMBER: 000000000 FISCAL YEAR END: 0430 FILING VALUES: FORM TYPE: 485BPOS SEC ACT: 1933 Act SEC FILE NUMBER: 333-138490 FILM NUMBER: 121170600 BUSINESS ADDRESS: STREET 1: 301 West Roosevelt Road CITY: Wheaton STATE: IL ZIP: 60187 BUSINESS PHONE: 800-983-0903 MAIL ADDRESS: STREET 1: 301 West Roosevelt Road CITY: Wheaton STATE: IL ZIP: 60187 FORMER COMPANY: FORMER CONFORMED NAME: PowerShares Global Exchange-Traded Fund Trust DATE OF NAME CHANGE: 20061023 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PowerShares Exchange-Traded Fund Trust II CENTRAL INDEX KEY: 0001378872 IRS NUMBER: 000000000 FISCAL YEAR END: 0430 FILING VALUES: FORM TYPE: 485BPOS SEC ACT: 1940 Act SEC FILE NUMBER: 811-21977 FILM NUMBER: 121170601 BUSINESS ADDRESS: STREET 1: 301 West Roosevelt Road CITY: Wheaton STATE: IL ZIP: 60187 BUSINESS PHONE: 800-983-0903 MAIL ADDRESS: STREET 1: 301 West Roosevelt Road CITY: Wheaton STATE: IL ZIP: 60187 FORMER COMPANY: FORMER CONFORMED NAME: PowerShares Global Exchange-Traded Fund Trust DATE OF NAME CHANGE: 20061023 0001378872 S000038520 PowerShares S&P 500 High Dividend Portfolio C000118892 PowerShares S&P 500 High Dividend Portfolio SPHD 485BPOS 1 a12-16979_6485bpos.htm 485BPOS

 

AS FILED WITH THE SECURITIES AND EXCHANGE COMMISSION ON October 31, 2012.

No. 333-138490

No. 811-21977

 

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 


 

FORM N-1A

 

 

REGISTRATION STATEMENT

 

 

UNDER THE SECURITIES ACT OF 1933

o

 

Pre-Effective Amendment No.

o

 

Post-Effective Amendment No. 361

x

 

 

and/or

 

REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT OF 1940

 

 

Amendment No. 362

x

 

(Check appropriate box or boxes)

 


 

POWERSHARES EXCHANGE-TRADED FUND TRUST II

(Exact Name of Registrant as Specified in Charter)

 

301 West Roosevelt Road

Wheaton, IL 60187

(Address of Principal Executive Office)

 

Registrant’s Telephone Number, including Area Code: (800) 983-0903

 

Andrew Schlossberg

 

With a copy to:

301 West Roosevelt Road

 

Alan P. Goldberg

Wheaton, IL 60187

 

K&L Gates LLP

(Name and Address of Agent for Service)

 

70 W. Madison St., Suite 3100

 

 

Chicago, IL 60602

 

APPROXIMATE DATE OF PROPOSED PUBLIC OFFERING:

 

It is proposed that this filing will become effective (check appropriate box):

 

x                                  immediately upon filing pursuant to paragraph (b) of Rule 485.

o                                    on [date] pursuant to paragraph (b) of Rule 485.

o                                    60 days after filing pursuant to paragraph (a)(1) of Rule 485.

o                                    on [date] pursuant to paragraph (a) of Rule 485.

o                                    75 days after filing pursuant to paragraph (a)(2) of Rule 485.

o                                    on [date] pursuant to paragraph (a) of Rule 485.

 

 

 



 

EXPLANATORY NOTE

 

This filing relates solely to the following series of the Registrant:

 

PowerShares S&P 500® High Dividend Portfolio

 



 

SIGNATURES

 

Pursuant to the requirements of the Securities Act and the Investment Company Act, the Trust certifies that it meets all of the requirements for effectiveness of this registration statement under Rule 485(b) under the Securities Act and has duly caused this registration statement to be signed on its behalf by the undersigned, duly authorized, in the City of Wheaton and State of Illinois, on the 31st day of October, 2012.

 

 

PowerShares Exchange-Traded Fund Trust II

 

 

 

 

By:

/s/ Andrew Schlossberg

 

 

Title: Andrew Schlossberg, President

 

Pursuant to the requirements of the Securities Act of 1933, this registration statement has been signed below by the following persons in the capacities indicated on the dates indicated.

 

SIGNATURE

 

TITLE

 

DATE

 

 

 

 

 

/s/ Andrew Schlossberg

 

President

 

October 31, 2012

Andrew Schlossberg

 

 

 

 

 

 

 

 

 

/s/ Sheri Morris

 

Treasurer

 

October 31, 2012

Sheri Morris

 

 

 

 

 

 

 

 

 

/s/ Anna Paglia

 

Secretary

 

October 31, 2012

Anna Paglia

 

 

 

 

 

 

 

 

 

* /s/ H. Bruce Bond

 

Trustee

 

October 31, 2012

H. Bruce Bond

 

 

 

 

 

 

 

 

 

* /s/ Kevin M. Carome

 

Trustee

 

October 31, 2012

Kevin M. Carome

 

 

 

 

 

 

 

 

 

* /s/ Ronn R. Bagge

 

Trustee

 

October 31, 2012

Ronn R. Bagge

 

 

 

 

 

 

 

 

 

* /s/ Todd J. Barre

 

Trustee

 

October 31, 2012

Todd J. Barre

 

 

 

 

 

 

 

 

 

* /s/ Marc M. Kole

 

Trustee

 

October 31, 2012

Marc M. Kole

 

 

 

 

 

 

 

 

 

* /s/ Philip M. Nussbaum

 

Trustee

 

October 31, 2012

Philip M. Nussbaum

 

 

 

 

 

 

 

 

 

* /s/ Donald H. Wilson

 

Chairman and Trustee

 

October 31, 2012

Donald H. Wilson

 

 

 

 

 

 

 

 

 

* By: /s/ Anna Paglia

 

 

 

October 31, 2012

Anna Paglia

 

 

 

 

Attorney-In-Fact

 

 

 

 

 

* Anna Paglia signs this registration statement pursuant to powers of attorney filed herewith.

 



 

EXHIBIT INDEX

 

Index No.

 

Description of Exhibit

 

 

 

EX-101.INS

 

XBRL Instance Document

EX-101.SCH

 

XBRL Taxonomy Extension Schema Document

EX-101.CAL

 

XBRL Taxonomy Extension Calculation Linkbase

EX-101.DEF

 

XBRL Taxonomy Extension Definition Linkbase

EX-101.LAB

 

XBRL Taxonomy Extension Labels Linkbase

EX-101.PRE

 

XBRL Taxonomy Extension Presentation Linkbase

 

EX-101.INS 2 ck0001378872-20121009.xml XBRL INSTANCE DOCUMENT 485BPOS 2012-10-09 0001378872 2012-10-10 PowerShares Exchange-Traded Fund Trust II false 2012-10-09 2012-10-10 Because the Fund is non-diversified and can invest a greater portion of its assets in securities of individual issuers than a diversified fund, changes in the market value of a single investment could cause greater fluctuations in Share price than would occur in a diversified fund. This may increase the Fund's volatility and cause the performance of a relatively small number of issuers to have a greater impact on the Fund's performance. <tt>The Fund pays transaction costs, such as commissions, when it purchases and<br />sells securities (or "turns over" its portfolio). A higher portfolio turnover<br />will cause the Fund to incur additional transaction costs and may result in<br />higher taxes when Shares are held in a taxable account. These costs, which are <br />not reflected in Total Annual Fund Operating Expenses or in the example, may <br />affect the Fund's performance. As of the date of this Prospectus, the Fund <br />does not have an operating history and turnover data therefore is not available.</tt> <div style="display:none">~ http://www.invescopowershares.com/role/ExpenseExample_S000038520Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <tt>The PowerShares S&amp;P 500&#xAE; High Dividend Portfolio (the "Fund") seeks investment<br />results that generally correspond (before fees and expenses) to the price and<br />yield of the S&amp;P 500&#xAE; Low Volatility High Dividend Index (the "Underlying<br />Index").</tt> <tt>This example is intended to help you compare the cost of investing in the Fund<br />with the cost of investing in other funds.<br /><br />This example assumes that you invest $10,000 in the Fund for the time periods<br />indicated and then sell all of your Shares at the end of those periods. The<br />example also assumes that your investment has a 5% return each year and that <br />the Fund's operating expenses remain the same. This example does not include <br />the brokerage commissions that investors may pay to buy and sell Shares.</tt> <tt>The Fund generally will invest at least 90% of its total assets in securities<br />that comprise the Underlying Index. Standard &amp; Poor's&#xAE; ("S&amp;P" or the "Index<br />Provider") compiles, maintains and calculates the Underlying Index, which is<br />composed of 50 securities in the S&amp;P 500&#xAE; Index that historically have provided<br />high dividend yields with lower volatility. Strictly in accordance with its<br />guidelines and mandated procedures, S&amp;P identifies from the S&amp;P 500&#xAE; Index the<br />75 securities with the highest dividend yields over the past 12 months, with <br />no one sector within the S&amp;P 500&#xAE; Index allowed to contribute more than 10<br />securities. From those securities, S&amp;P selects for inclusion in the Underlying<br />Index the 50 securities with the lowest volatility over the past 12 months.<br />Volatility is a statistical measurement of the magnitude of up and down asset<br />price fluctuations (increases or decreases in a stock's price) over time. The<br />Index Provider weights each of the constituent securities in the Underlying<br />Index by its dividend yield, with the highest dividend-yielding securities<br />receiving the highest weights. The Fund generally invests in all of the<br />securities comprising its Underlying Index in proportion to their weightings <br />in the Underlying Index.<br /> <br />Concentration Policy. The Fund will concentrate its investments (i.e., invest<br />more than 25% of the value of its net assets) in securities of issuers in any<br />one industry or sector only to the extent that the Underlying Index reflects a<br />concentration in that industry or sector. The Fund will not otherwise concentrate <br />its investments in securities of issuers in any one industry or sector.</tt> PowerShares S&P 500® High Dividend Portfolio Example "Other Expenses" are based on estimated amounts for the current fiscal year. As of the date of this Prospectus, the Fund has not commenced operations and therefore does not have a performance history. Investment Objective The Shares will change in value, and you could lose money by investing in the Fund. Principal Risks of Investing in the Fund Although your actual costs may be higher or lower, your costs, based on these assumptions, would be: Performance Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) Portfolio Turnover <tt>The following summarizes the principal risks of the Fund.<br /> <br />Dividend Paying Securities Risk. Securities that pay high dividends as a group<br />can fall out of favor with the market, causing such companies to underperform<br />companies that do not pay high dividends. Also, changes in the dividend policies<br />of the companies in which the Fund invests and the capital resources available<br />for such companies' dividend payments may adversely affect the Fund.<br /> <br />Equity Risk. Equity risk is the risk that the value of the securities the Fund<br />holds will fall due to general market and economic conditions, perceptions<br />regarding the industries in which the issuers of securities the Fund holds<br />participate or factors relating to specific companies in which the Fund invests.<br />For example, an adverse event, such as an unfavorable earnings report, may<br />depress the value of securities the Fund holds; the price of securities may be<br />particularly sensitive to general movements in the stock market; or a drop in<br />the stock market may depress the price of most or all of the securities the Fund<br />holds. In addition, securities of an issuer in the Fund's portfolio may decline<br />in price if the issuer fails to make anticipated dividend payments because,<br />among other reasons, the issuer of the security experiences a decline in its<br />financial condition.<br /> <br />Industry Concentration Risk. In following its methodology, the Underlying <br />Index from time to time may be concentrated to a significant degree in <br />securities of issuers located in a single industry or a sector. To the extent <br />that the Underlying Index concentrates in the securities of issuers in a <br />particular industry or sector, the Fund also will concentrate its investments to<br />approximately the same extent. By&#xA0;&#xA0;concentrating its investments in an industry <br />or sector, the Fund may face more risks than if it were diversified broadly over <br />numerous industries or sectors. Such industry-based risks, any of which may <br />adversely affect the companies in which the Fund invests, may include, but are <br />not limited to, the following: general economic conditions or cyclical market <br />patterns that could negatively affect supply and demand in a particular industry; <br />competition for resources, adverse labor relations, political or world events; <br />obsolescence of technologies; and increased competition or new product <br />introductions that may affect the profitability or viability of companies in an <br />industry. In addition, at times, an industry or sector may be out of favor and <br />underperform other industries or the market as a whole.<br /> <br />Non-Correlation Risk. The Fund's return may not match the return of the Underlying <br />Index for a number of reasons. For example, the Fund incurs operating expenses not <br />applicable to the Underlying Index, and incurs costs in buying and selling securities,<br />especially when rebalancing the Fund's securities holdings to reflect changes in the <br />composition of the Underlying Index. In addition, the performance of the Fund and <br />the Underlying Index may vary due to asset valuation differences and differences <br />between the Fund's portfolio and the Underlying Index resulting from legal <br />restrictions, cost or liquidity constraints.<br /> <br />Market Risk. Securities in the Underlying Index are subject to market fluctuations. <br />You should anticipate that the value of the Shares will decline, more or less, in <br />correlation with any decline in value of the securities in the Underlying Index.<br /> <br />Market Trading Risk. The Fund faces numerous market trading risks, including <br />the potential lack of an active market for the Shares, losses from trading in <br />secondary markets, and disruption in the creation/redemption process of the Fund. <br />Any of these factors may lead to the Shares trading at a premium or discount to <br />the Fund's net asset value ("NAV").<br /> <br />Index Risk. Unlike many investment companies, the Fund does not utilize an<br />investing strategy that seeks returns in excess of the Underlying Index.<br />Therefore, it would not necessarily buy or sell a security unless that security<br />is added or removed, respectively, from the Underlying Index, even if that<br />security generally is underperforming.<br /> <br />Non-Diversified Fund Risk. Because the Fund is non-diversified and can invest <br />a greater portion of its assets in securities of individual issuers than a<br />diversified fund, changes in the market value of a single investment could cause<br />greater fluctuations in Share price than would occur in a diversified fund. This<br />may increase the Fund's volatility and cause the performance of a relatively<br />small number of issuers to have a greater impact on the Fund's performance.<br /> <br />Issuer-Specific Changes. The value of an individual security or particular type<br />of security may be more volatile than the market as a whole and may perform<br />differently from the value of the market as a whole.<br /> <br />The Shares will change in value, and you could lose money by investing in the<br />Fund. The Fund may not achieve its investment objective.</tt> Fund Fees and Expenses Principal Investment Strategies www.invescopowershares.com The Fund will concentrate its investments (i.e., invest more than 25% of the value of its net assets) in securities of issuers in any one industry or sector only to the extent that the Underlying Index reflects a concentration in that industry or sector. The Fund will not otherwise concentrate its investments in securities of issuers in any one industry or sector. <tt>As of the date of this Prospectus, the Fund has not commenced operations and<br />therefore does not have a performance history. Once available, the Fund's<br />performance information will be accessible on the Fund's website at<br />www.invescopowershares.com and will provide some indication of the risks <br />of investing in the Fund.</tt> <tt>This table describes the fees and expenses that you may pay if you buy and hold<br />shares of the Fund ("Shares"). Investors may pay brokerage commissions on their<br />purchases and sales of Shares, which are not reflected in the table or the<br />example below.</tt> <div style="display:none">~ http://www.invescopowershares.com/role/OperatingExpensesData_S000038520Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> SPHD 31 97 0.0000 0.0030 0.0030 0001378872 ck0001378872:SummaryS000038520Memberck0001378872:S000038520Memberck0001378872:C000118892Member 2012-10-10 2012-10-10 0001378872 ck0001378872:SummaryS000038520Memberck0001378872:S000038520Member 2012-10-10 2012-10-10 0001378872 2012-10-10 2012-10-10 iso4217:USD pure "Other Expenses" are based on estimated amounts for the current fiscal year. 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PowerShares S&P 500 High Dividend Portfolio (Prospectus Summary) | PowerShares S&P 500 High Dividend Portfolio
PowerShares S&P 500® High Dividend Portfolio
Investment Objective
The PowerShares S&P 500® High Dividend Portfolio (the "Fund") seeks investment
results that generally correspond (before fees and expenses) to the price and
yield of the S&P 500® Low Volatility High Dividend Index (the "Underlying
Index").
Fund Fees and Expenses
This table describes the fees and expenses that you may pay if you buy and hold
shares of the Fund ("Shares"). Investors may pay brokerage commissions on their
purchases and sales of Shares, which are not reflected in the table or the
example below.
Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
Annual Fund Operating Expenses
PowerShares S&P 500 High Dividend Portfolio
Management Fees 0.30%
Other Expenses [1] none
Total Annual Fund Operating Expenses 0.30%
[1] "Other Expenses" are based on estimated amounts for the current fiscal year.
Example
This example is intended to help you compare the cost of investing in the Fund
with the cost of investing in other funds.

This example assumes that you invest $10,000 in the Fund for the time periods
indicated and then sell all of your Shares at the end of those periods. The
example also assumes that your investment has a 5% return each year and that
the Fund's operating expenses remain the same. This example does not include
the brokerage commissions that investors may pay to buy and sell Shares.
Although your actual costs may be higher or lower, your costs, based on these assumptions, would be:
Expense Example (USD $)
Expense Example, with Redemption, 1 Year
Expense Example, with Redemption, 3 Years
PowerShares S&P 500 High Dividend Portfolio
31 97
Portfolio Turnover
The Fund pays transaction costs, such as commissions, when it purchases and
sells securities (or "turns over" its portfolio). A higher portfolio turnover
will cause the Fund to incur additional transaction costs and may result in
higher taxes when Shares are held in a taxable account. These costs, which are
not reflected in Total Annual Fund Operating Expenses or in the example, may
affect the Fund's performance. As of the date of this Prospectus, the Fund
does not have an operating history and turnover data therefore is not available.
Principal Investment Strategies
The Fund generally will invest at least 90% of its total assets in securities
that comprise the Underlying Index. Standard & Poor's® ("S&P" or the "Index
Provider") compiles, maintains and calculates the Underlying Index, which is
composed of 50 securities in the S&P 500® Index that historically have provided
high dividend yields with lower volatility. Strictly in accordance with its
guidelines and mandated procedures, S&P identifies from the S&P 500® Index the
75 securities with the highest dividend yields over the past 12 months, with
no one sector within the S&P 500® Index allowed to contribute more than 10
securities. From those securities, S&P selects for inclusion in the Underlying
Index the 50 securities with the lowest volatility over the past 12 months.
Volatility is a statistical measurement of the magnitude of up and down asset
price fluctuations (increases or decreases in a stock's price) over time. The
Index Provider weights each of the constituent securities in the Underlying
Index by its dividend yield, with the highest dividend-yielding securities
receiving the highest weights. The Fund generally invests in all of the
securities comprising its Underlying Index in proportion to their weightings
in the Underlying Index.

Concentration Policy. The Fund will concentrate its investments (i.e., invest
more than 25% of the value of its net assets) in securities of issuers in any
one industry or sector only to the extent that the Underlying Index reflects a
concentration in that industry or sector. The Fund will not otherwise concentrate
its investments in securities of issuers in any one industry or sector.
Principal Risks of Investing in the Fund
The following summarizes the principal risks of the Fund.

Dividend Paying Securities Risk. Securities that pay high dividends as a group
can fall out of favor with the market, causing such companies to underperform
companies that do not pay high dividends. Also, changes in the dividend policies
of the companies in which the Fund invests and the capital resources available
for such companies' dividend payments may adversely affect the Fund.

Equity Risk. Equity risk is the risk that the value of the securities the Fund
holds will fall due to general market and economic conditions, perceptions
regarding the industries in which the issuers of securities the Fund holds
participate or factors relating to specific companies in which the Fund invests.
For example, an adverse event, such as an unfavorable earnings report, may
depress the value of securities the Fund holds; the price of securities may be
particularly sensitive to general movements in the stock market; or a drop in
the stock market may depress the price of most or all of the securities the Fund
holds. In addition, securities of an issuer in the Fund's portfolio may decline
in price if the issuer fails to make anticipated dividend payments because,
among other reasons, the issuer of the security experiences a decline in its
financial condition.

Industry Concentration Risk. In following its methodology, the Underlying
Index from time to time may be concentrated to a significant degree in
securities of issuers located in a single industry or a sector. To the extent
that the Underlying Index concentrates in the securities of issuers in a
particular industry or sector, the Fund also will concentrate its investments to
approximately the same extent. By  concentrating its investments in an industry
or sector, the Fund may face more risks than if it were diversified broadly over
numerous industries or sectors. Such industry-based risks, any of which may
adversely affect the companies in which the Fund invests, may include, but are
not limited to, the following: general economic conditions or cyclical market
patterns that could negatively affect supply and demand in a particular industry;
competition for resources, adverse labor relations, political or world events;
obsolescence of technologies; and increased competition or new product
introductions that may affect the profitability or viability of companies in an
industry. In addition, at times, an industry or sector may be out of favor and
underperform other industries or the market as a whole.

Non-Correlation Risk. The Fund's return may not match the return of the Underlying
Index for a number of reasons. For example, the Fund incurs operating expenses not
applicable to the Underlying Index, and incurs costs in buying and selling securities,
especially when rebalancing the Fund's securities holdings to reflect changes in the
composition of the Underlying Index. In addition, the performance of the Fund and
the Underlying Index may vary due to asset valuation differences and differences
between the Fund's portfolio and the Underlying Index resulting from legal
restrictions, cost or liquidity constraints.

Market Risk. Securities in the Underlying Index are subject to market fluctuations.
You should anticipate that the value of the Shares will decline, more or less, in
correlation with any decline in value of the securities in the Underlying Index.

Market Trading Risk. The Fund faces numerous market trading risks, including
the potential lack of an active market for the Shares, losses from trading in
secondary markets, and disruption in the creation/redemption process of the Fund.
Any of these factors may lead to the Shares trading at a premium or discount to
the Fund's net asset value ("NAV").

Index Risk. Unlike many investment companies, the Fund does not utilize an
investing strategy that seeks returns in excess of the Underlying Index.
Therefore, it would not necessarily buy or sell a security unless that security
is added or removed, respectively, from the Underlying Index, even if that
security generally is underperforming.

Non-Diversified Fund Risk. Because the Fund is non-diversified and can invest
a greater portion of its assets in securities of individual issuers than a
diversified fund, changes in the market value of a single investment could cause
greater fluctuations in Share price than would occur in a diversified fund. This
may increase the Fund's volatility and cause the performance of a relatively
small number of issuers to have a greater impact on the Fund's performance.

Issuer-Specific Changes. The value of an individual security or particular type
of security may be more volatile than the market as a whole and may perform
differently from the value of the market as a whole.

The Shares will change in value, and you could lose money by investing in the
Fund. The Fund may not achieve its investment objective.
Performance
As of the date of this Prospectus, the Fund has not commenced operations and
therefore does not have a performance history. Once available, the Fund's
performance information will be accessible on the Fund's website at
www.invescopowershares.com and will provide some indication of the risks
of investing in the Fund.
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Label Element Value
Risk Return [Abstract] rr_RiskReturnAbstract  
Document Type dei_DocumentType 485BPOS
Document Period End Date dei_DocumentPeriodEndDate Oct. 09, 2012
Registrant Name dei_EntityRegistrantName PowerShares Exchange-Traded Fund Trust II
Central Index Key dei_EntityCentralIndexKey 0001378872
Amendment Flag dei_AmendmentFlag false
Document Creation Date dei_DocumentCreationDate Oct. 09, 2012
Document Effective Date dei_DocumentEffectiveDate Oct. 10, 2012
PowerShares S&P 500 High Dividend Portfolio (Prospectus Summary) | PowerShares S&P 500 High Dividend Portfolio | PowerShares S&P 500 High Dividend Portfolio
 
Risk Return [Abstract] rr_RiskReturnAbstract  
Trading Symbol dei_TradingSymbol SPHD
XML 14 R5.htm IDEA: XBRL DOCUMENT v2.4.0.6
Label Element Value
Risk Return [Abstract] rr_RiskReturnAbstract  
ProspectusDate rr_ProspectusDate Oct. 10, 2012
PowerShares S&P 500 High Dividend Portfolio (Prospectus Summary) | PowerShares S&P 500 High Dividend Portfolio
 
Risk Return [Abstract] rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading PowerShares S&P 500® High Dividend Portfolio
Objective [Heading] rr_ObjectiveHeading Investment Objective
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock The PowerShares S&P 500® High Dividend Portfolio (the "Fund") seeks investment
results that generally correspond (before fees and expenses) to the price and
yield of the S&P 500® Low Volatility High Dividend Index (the "Underlying
Index").
Expense [Heading] rr_ExpenseHeading Fund Fees and Expenses
Expense Narrative [Text Block] rr_ExpenseNarrativeTextBlock This table describes the fees and expenses that you may pay if you buy and hold
shares of the Fund ("Shares"). Investors may pay brokerage commissions on their
purchases and sales of Shares, which are not reflected in the table or the
example below.
Operating Expenses Caption [Text] rr_OperatingExpensesCaption Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
Portfolio Turnover [Heading] rr_PortfolioTurnoverHeading Portfolio Turnover
Portfolio Turnover [Text Block] rr_PortfolioTurnoverTextBlock The Fund pays transaction costs, such as commissions, when it purchases and
sells securities (or "turns over" its portfolio). A higher portfolio turnover
will cause the Fund to incur additional transaction costs and may result in
higher taxes when Shares are held in a taxable account. These costs, which are
not reflected in Total Annual Fund Operating Expenses or in the example, may
affect the Fund's performance. As of the date of this Prospectus, the Fund
does not have an operating history and turnover data therefore is not available.
Other Expenses, New Fund, Based on Estimates [Text] rr_OtherExpensesNewFundBasedOnEstimates "Other Expenses" are based on estimated amounts for the current fiscal year.
Expense Example [Heading] rr_ExpenseExampleHeading Example
Expense Example Narrative [Text Block] rr_ExpenseExampleNarrativeTextBlock This example is intended to help you compare the cost of investing in the Fund
with the cost of investing in other funds.

This example assumes that you invest $10,000 in the Fund for the time periods
indicated and then sell all of your Shares at the end of those periods. The
example also assumes that your investment has a 5% return each year and that
the Fund's operating expenses remain the same. This example does not include
the brokerage commissions that investors may pay to buy and sell Shares.
Expense Example by, Year, Caption [Text] rr_ExpenseExampleByYearCaption Although your actual costs may be higher or lower, your costs, based on these assumptions, would be:
Strategy [Heading] rr_StrategyHeading Principal Investment Strategies
Strategy Narrative [Text Block] rr_StrategyNarrativeTextBlock The Fund generally will invest at least 90% of its total assets in securities
that comprise the Underlying Index. Standard & Poor's® ("S&P" or the "Index
Provider") compiles, maintains and calculates the Underlying Index, which is
composed of 50 securities in the S&P 500® Index that historically have provided
high dividend yields with lower volatility. Strictly in accordance with its
guidelines and mandated procedures, S&P identifies from the S&P 500® Index the
75 securities with the highest dividend yields over the past 12 months, with
no one sector within the S&P 500® Index allowed to contribute more than 10
securities. From those securities, S&P selects for inclusion in the Underlying
Index the 50 securities with the lowest volatility over the past 12 months.
Volatility is a statistical measurement of the magnitude of up and down asset
price fluctuations (increases or decreases in a stock's price) over time. The
Index Provider weights each of the constituent securities in the Underlying
Index by its dividend yield, with the highest dividend-yielding securities
receiving the highest weights. The Fund generally invests in all of the
securities comprising its Underlying Index in proportion to their weightings
in the Underlying Index.

Concentration Policy. The Fund will concentrate its investments (i.e., invest
more than 25% of the value of its net assets) in securities of issuers in any
one industry or sector only to the extent that the Underlying Index reflects a
concentration in that industry or sector. The Fund will not otherwise concentrate
its investments in securities of issuers in any one industry or sector.
Strategy Portfolio Concentration [Text] rr_StrategyPortfolioConcentration The Fund will concentrate its investments (i.e., invest more than 25% of the value of its net assets) in securities of issuers in any one industry or sector only to the extent that the Underlying Index reflects a concentration in that industry or sector. The Fund will not otherwise concentrate its investments in securities of issuers in any one industry or sector.
Risk [Heading] rr_RiskHeading Principal Risks of Investing in the Fund
Risk Narrative [Text Block] rr_RiskNarrativeTextBlock The following summarizes the principal risks of the Fund.

Dividend Paying Securities Risk. Securities that pay high dividends as a group
can fall out of favor with the market, causing such companies to underperform
companies that do not pay high dividends. Also, changes in the dividend policies
of the companies in which the Fund invests and the capital resources available
for such companies' dividend payments may adversely affect the Fund.

Equity Risk. Equity risk is the risk that the value of the securities the Fund
holds will fall due to general market and economic conditions, perceptions
regarding the industries in which the issuers of securities the Fund holds
participate or factors relating to specific companies in which the Fund invests.
For example, an adverse event, such as an unfavorable earnings report, may
depress the value of securities the Fund holds; the price of securities may be
particularly sensitive to general movements in the stock market; or a drop in
the stock market may depress the price of most or all of the securities the Fund
holds. In addition, securities of an issuer in the Fund's portfolio may decline
in price if the issuer fails to make anticipated dividend payments because,
among other reasons, the issuer of the security experiences a decline in its
financial condition.

Industry Concentration Risk. In following its methodology, the Underlying
Index from time to time may be concentrated to a significant degree in
securities of issuers located in a single industry or a sector. To the extent
that the Underlying Index concentrates in the securities of issuers in a
particular industry or sector, the Fund also will concentrate its investments to
approximately the same extent. By  concentrating its investments in an industry
or sector, the Fund may face more risks than if it were diversified broadly over
numerous industries or sectors. Such industry-based risks, any of which may
adversely affect the companies in which the Fund invests, may include, but are
not limited to, the following: general economic conditions or cyclical market
patterns that could negatively affect supply and demand in a particular industry;
competition for resources, adverse labor relations, political or world events;
obsolescence of technologies; and increased competition or new product
introductions that may affect the profitability or viability of companies in an
industry. In addition, at times, an industry or sector may be out of favor and
underperform other industries or the market as a whole.

Non-Correlation Risk. The Fund's return may not match the return of the Underlying
Index for a number of reasons. For example, the Fund incurs operating expenses not
applicable to the Underlying Index, and incurs costs in buying and selling securities,
especially when rebalancing the Fund's securities holdings to reflect changes in the
composition of the Underlying Index. In addition, the performance of the Fund and
the Underlying Index may vary due to asset valuation differences and differences
between the Fund's portfolio and the Underlying Index resulting from legal
restrictions, cost or liquidity constraints.

Market Risk. Securities in the Underlying Index are subject to market fluctuations.
You should anticipate that the value of the Shares will decline, more or less, in
correlation with any decline in value of the securities in the Underlying Index.

Market Trading Risk. The Fund faces numerous market trading risks, including
the potential lack of an active market for the Shares, losses from trading in
secondary markets, and disruption in the creation/redemption process of the Fund.
Any of these factors may lead to the Shares trading at a premium or discount to
the Fund's net asset value ("NAV").

Index Risk. Unlike many investment companies, the Fund does not utilize an
investing strategy that seeks returns in excess of the Underlying Index.
Therefore, it would not necessarily buy or sell a security unless that security
is added or removed, respectively, from the Underlying Index, even if that
security generally is underperforming.

Non-Diversified Fund Risk. Because the Fund is non-diversified and can invest
a greater portion of its assets in securities of individual issuers than a
diversified fund, changes in the market value of a single investment could cause
greater fluctuations in Share price than would occur in a diversified fund. This
may increase the Fund's volatility and cause the performance of a relatively
small number of issuers to have a greater impact on the Fund's performance.

Issuer-Specific Changes. The value of an individual security or particular type
of security may be more volatile than the market as a whole and may perform
differently from the value of the market as a whole.

The Shares will change in value, and you could lose money by investing in the
Fund. The Fund may not achieve its investment objective.
Risk Lose Money [Text] rr_RiskLoseMoney The Shares will change in value, and you could lose money by investing in the Fund.
Risk Nondiversified Status [Text] rr_RiskNondiversifiedStatus Because the Fund is non-diversified and can invest a greater portion of its assets in securities of individual issuers than a diversified fund, changes in the market value of a single investment could cause greater fluctuations in Share price than would occur in a diversified fund. This may increase the Fund's volatility and cause the performance of a relatively small number of issuers to have a greater impact on the Fund's performance.
Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading Performance
Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock As of the date of this Prospectus, the Fund has not commenced operations and
therefore does not have a performance history. Once available, the Fund's
performance information will be accessible on the Fund's website at
www.invescopowershares.com and will provide some indication of the risks
of investing in the Fund.
Performance One Year or Less [Text] rr_PerformanceOneYearOrLess As of the date of this Prospectus, the Fund has not commenced operations and therefore does not have a performance history.
Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress www.invescopowershares.com
PowerShares S&P 500 High Dividend Portfolio (Prospectus Summary) | PowerShares S&P 500 High Dividend Portfolio | PowerShares S&P 500 High Dividend Portfolio
 
Risk Return [Abstract] rr_RiskReturnAbstract  
Management Fees rr_ManagementFeesOverAssets 0.30%
Other Expenses rr_OtherExpensesOverAssets none [1]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.30%
Expense Example, with Redemption, 1 Year rr_ExpenseExampleYear01 31
Expense Example, with Redemption, 3 Years rr_ExpenseExampleYear03 97
[1] "Other Expenses" are based on estimated amounts for the current fiscal year.
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