0001104659-13-003365.txt : 20130118 0001104659-13-003365.hdr.sgml : 20130118 20130118135629 ACCESSION NUMBER: 0001104659-13-003365 CONFORMED SUBMISSION TYPE: 485BPOS PUBLIC DOCUMENT COUNT: 7 FILED AS OF DATE: 20130118 DATE AS OF CHANGE: 20130118 EFFECTIVENESS DATE: 20130118 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PowerShares Exchange-Traded Fund Trust II CENTRAL INDEX KEY: 0001378872 IRS NUMBER: 000000000 FISCAL YEAR END: 1031 FILING VALUES: FORM TYPE: 485BPOS SEC ACT: 1933 Act SEC FILE NUMBER: 333-138490 FILM NUMBER: 13537008 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: 1031 FILING VALUES: FORM TYPE: 485BPOS SEC ACT: 1940 Act SEC FILE NUMBER: 811-21977 FILM NUMBER: 13537009 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 S000038518 PowerShares Fundamental Emerging Markets Local Debt Portfolio C000118889 PowerShares Fundamental Emerging Markets Local Debt Portfolio 485BPOS 1 a12-16978_5485bpos.htm 485BPOS

 

AS FILED WITH THE SECURITIES AND EXCHANGE COMMISSION ON JANUARY 18, 2013.

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. 381

x

 

 

and/or

 

REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT OF 1940

 

 

Amendment No. 382

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 Fundamental Emerging Markets Local Debt 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 18th day of January, 2013.

 

 

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

 

January 18, 2013

Andrew Schlossberg

 

 

 

 

 

 

 

 

 

/s/ Sheri Morris

 

Treasurer

 

January 18, 2013

Sheri Morris

 

 

 

 

 

 

 

 

 

/s/ Anna Paglia

 

Secretary

 

January 18, 2013

Anna Paglia

 

 

 

 

 

 

 

 

 

* /s/ H. Bruce Bond

 

Trustee

 

January 18, 2013

H. Bruce Bond

 

 

 

 

 

 

 

 

 

* /s/ Kevin M. Carome

 

Trustee

 

January 18, 2013

Kevin M. Carome

 

 

 

 

 

 

 

 

 

* /s/ Ronn R. Bagge

 

Trustee

 

January 18, 2013

Ronn R. Bagge

 

 

 

 

 

 

 

 

 

* /s/ Todd J. Barre

 

Trustee

 

January 18, 2013

Todd J. Barre

 

 

 

 

 

 

 

 

 

* /s/ Marc M. Kole

 

Trustee

 

January 18, 2013

Marc M. Kole

 

 

 

 

 

 

 

 

 

* /s/ Philip M. Nussbaum

 

Trustee

 

January 18, 2013

Philip M. Nussbaum

 

 

 

 

 

 

 

 

 

* /s/ Donald H. Wilson

 

Chairman and Trustee

 

January 18, 2013

Donald H. Wilson

 

 

 

 

 

 

 

 

 

* By: /s/ Anna Paglia

 

 

 

January 18, 2013

Anna Paglia

 

 

 

 

Attorney-In-Fact

 

 

 

 

 

* Anna Paglia signs this registration statement pursuant to powers of attorney filed with Post-Effective Amendment No. 227 to the Trust’s Registration Statement and incorporated by reference herein.

 



 

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 ck0001378872-20121228.xml XBRL INSTANCE DOCUMENT 485BPOS 2012-12-28 0001378872 2012-12-28 PowerShares Exchange-Traded Fund Trust II false 2012-12-28 2012-12-28 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 Fund Shares are held in a taxable account. These costs, <br />which are not reflected in Total Annual Fund Operating Expenses or in the <br />example, may affect the Fund's performance. At the date of this Prospectus, <br />the Fund does not have an operating history and turnover data therefore is <br />not available.</tt> <div style="display:none">~ http://www.invescopowershares.com/role/ExpenseExample_S000038518Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <tt>The PowerShares Fundamental Emerging Markets Local Debt Portfolio (the "Fund")<br />seeks investment results that generally correspond (before fees and expenses) to<br />the price and yield of the Citi RAFI Sovereign Emerging Markets Local Currency<br />Bond Index Master (the "Underlying 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 80% of its total assets in the bonds<br />issued by the national governments of emerging market countries that comprise<br />the Underlying Index. The Underlying Index measures the potential return of a<br />portfolio of bonds issued by the national governments of 14 emerging market<br />countries, all in the respective local currency. Research Affiliates, LLC ("RA")<br />and Citigroup Index LLC ("Citigroup" or the "Index Provider") jointly select the<br />emerging market countries from a set of existing indices that Citigroup has<br />produced that measure government bond markets. To be included in the Underlying<br />Index, countries must have at least an investment grade domestic sovereign debt<br />rating by either Standard &amp; Poor's ("S&amp;P") or Moody's Investors Service, Inc.<br />("Moody's").<br /> <br />Strictly in accordance with its existing guidelines and mandated procedures,<br />Citigroup selects bonds from the eligible emerging market countries for<br />inclusion in the Underlying Index that have at least one year to maturity and <br />a minimum rating of "C" by either S&amp;P or Moody's. Using RA's a proprietary<br />weighting methodology, the Index Provider annually weights the bonds of each<br />selected country in the Underlying Index based on that country's composite<br />rankings in four fundamental measures of a country's economic strength: gross<br />domestic product, population, land area and energy use. As of June 30, 2012, <br />the Underlying Index included bonds issued by the national governments of Brazil,<br />Colombia, Chile, the Czech Republic, Hungary, Indonesia, Malaysia, Mexico, Peru,<br />the Philippines, Poland, South Africa, Thailand and Turkey.<br /> <br />The Fund does not purchase all of the securities in the Underlying Index;<br />instead, the Fund utilizes a "sampling" methodology to seek to achieve its<br />investment objective. <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 group of industries only to the extent that the Underlying Index<br />reflects a concentration in that industry or group of industries. The Fund will<br />not otherwise concentrate its investments in securities of issuers in any one<br />industry or group of industries.</tt> PowerShares Fundamental Emerging Markets Local Debt 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 />Fixed-Income Securities Risk. Fixed-income securities are subject to interest<br />rate risk and credit risk. Interest rate risk refers to fluctuations in the<br />value of a fixed-income security resulting from changes in the general level of<br />interest rates. When the general level of interest rates goes up, the prices of<br />most fixed-income securities go down. When the general level of interest rates<br />goes down, the prices of most fixed-income securities go up. Fixed-income<br />securities with longer maturities typically are more sensitive to changes in<br />interest rates, making them more volatile than securities with shorter maturities. <br />Credit risk refers to the possibility that the issuer of a security will be unable <br />and/or unwilling to make timely interest payments and/or repay the principal on <br />its debt. Debt instruments are subject to varying degrees of credit risk, which <br />may be reflected in credit ratings. There is a possibility that the credit <br />rating of a fixed-income security may be downgraded after purchase, which may <br />adversely affect the value of the security. <br /><br />Sovereign Debt Risk. Risks of sovereign debt include the availability of<br />sufficient foreign exchange on the date a payment is due, the relative size of<br />the debt service burden to the economy as a whole, and the government debtor's<br />policy towards the International Monetary Fund and the political constraints to<br />which a government debtor may be subject. The governmental authority that<br />controls the repayment of sovereign debt may be unwilling or unable to repay the<br />principal and/or interest when due in accordance with the terms of such<br />securities due to the extent of its foreign reserves. If an issuer of sovereign<br />debt defaults on payments of principal and/or interest, the Fund may have<br />limited legal recourse against the issuer and/or guarantor. In certain cases,<br />remedies must be pursued in the courts of the defaulting party itself, and the<br />Fund's ability to obtain recourse may be limited.<br /> <br />Emerging Markets Sovereign Debt Risk. Government obligors in emerging market<br />countries are among the world's largest debtors to commercial banks, other<br />governments, international financial organizations and other financial<br />institutions. Historically, certain issuers of the government debt securities in<br />which the Fund may invest have experienced substantial difficulties in meeting<br />their external debt obligations, resulting in defaults on certain obligations<br />and the restructuring of certain indebtedness. Such restructuring arrangements<br />have included obtaining additional credit to finance outstanding obligations and<br />the reduction and rescheduling of payments of interest and principal through the<br />negotiation of new or amended credit agreements.<br /> <br />Currency Risk. The Fund invests in the bonds of governments located in emerging<br />market countries and much of the income received by the Fund will be in foreign<br />currencies. Because the Fund's net asset value ("NAV") is determined in U.S.<br />dollars, the Fund's NAV could decline if the currency of the non-U.S. markets in<br />which the Fund invests depreciate against the U.S. dollar, even if the value of<br />the Fund's holdings, measured in the foreign currencies, increases.<br /> <br />Non-Investment Grade Securities Risk. The Fund may invest in securities that are<br />rated below investment grade (i.e., securities rated below "BBB" by S&amp;P or "Baa"<br />by Moody's); however, the Fund will only invest in bonds issued by national<br />governments of countries that have a minimum domestic sovereign debt rating of<br />"C" by either S&amp;P or Moody's. Non-investment grade securities and unrated<br />securities of comparable credit quality are subject to the increased risk of an<br />issuer's inability to meet principal and interest payment obligations. These<br />securities may be subject to greater price volatility due to such factors as<br />interest rate sensitivity, negative perceptions of the non-investment grade<br />securities markets generally, real or perceived adverse economic conditions and<br />less secondary market liquidity. If the issuer of non-investment grade<br />securities defaults, the Fund may incur additional expenses to seek recovery.<br /> <br />Liquidity Risk. Liquidity risk exists when a particular investment is difficult<br />to purchase or sell. If the Fund invests in illiquid securities or current<br />portfolio securities become illiquid, it may reduce the returns of the Fund<br />because the Fund may be unable to sell the illiquid securities at an<br />advantageous time or price.<br /><br />Call Risk. If interest rates fall, it is possible that issuers of callable<br />securities with high interest coupons will "call" (or prepay) their bonds before<br />their maturity date. If an issuer exercised such a call during a period of<br />declining interest rates, the Fund may have to replace such called security with<br />a lower yielding security. If that were to happen, the Fund's net investment<br />income could fall.<br /> <br />Valuation Risk. The Fund will invest in foreign bonds and, because foreign<br />exchanges may be open on days when the Fund does not price its shares, the value<br />of the non-U.S. securities in the Fund's portfolio may change on days when you<br />will not be able to purchase or sell your Shares.<br /><br />Portfolio Turnover Risk. The Fund's Underlying Index rebalances monthly and, as<br />a result, the Fund may engage in frequent trading of its portfolio securities in<br />connection with the rebalancing or adjustment of the Underlying Index. This may<br />result in a high portfolio turnover rate. A portfolio turnover rate of 200%, for<br />example, is equivalent to the Fund buying and selling all of its securities two<br />times during the course of a year. A high portfolio turnover rate (such as 100%<br />or more) could result in high brokerage costs for the Fund. A high portfolio<br />turnover rate also can result in an increase in taxable capital gains<br />distributions to the Fund's shareholders and an increased likelihood that the<br />capital gains will be taxable at ordinary rates.<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 the<br />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<br />Fund. Any of these factors may lead to the Shares trading at a premium or<br />discount to the Fund's NAV.<br /> <br />Non-Correlation Risk. The Fund's return may not match the return of the<br />Underlying Index for a number of reasons. For example, the Fund incurs operating<br />expenses not applicable to the Underlying Index, and incurs costs in buying and<br />selling securities, especially when rebalancing the Fund's securities holdings<br />to reflect changes in the composition of the Underlying Index. Additionally, the<br />Fund's use of a representative sampling approach may cause the Fund not to be as<br />well-correlated with the return of the Underlying Index as would be the case if<br />the Fund purchased all of the securities in the Underlying Index in the<br />proportions represented in the Underlying Index. In addition, the performance of<br />the Fund and the Underlying Index may vary due to asset valuation differences<br />and differences between the Fund's portfolio and the Underlying Index resulting<br />from legal restrictions, cost or liquidity constraints.<br /> <br />Sampling Risk. Although it may hold as many securities as necessary to achieve<br />its investment objective, the Fund, by using a representative sampling approach,<br />generally will hold a smaller number of securities than the Underlying Index. As<br />a result, an adverse development to an issuer of securities that the Fund holds<br />could result in a greater decline in NAV than would be the case if the Fund held<br />all of the securities in the Underlying Index. To the extent the assets in the<br />Fund are smaller, these risks will be greater.<br /> <br />Cash Transaction Risk. Unlike most exchange-traded funds ("ETFs"), the Fund<br />effects creations and redemptions primarily for cash, rather than principally<br />for in-kind securities, because of the nature of the Fund's investments. As<br />such, investments in the Fund may be less tax efficient than an investment in<br />conventional ETFs.<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, the Fund would not necessarily buy or sell a security unless that<br />security is added or removed, respectively, from its Underlying Index, even if<br />that security generally is underperforming.<br /> <br />Non-Diversified Fund Risk. Because the Fund is non-diversified and can invest a<br />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 />&#xA0;&#xA0;<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 group of industries only to the extent that the Underlying Index reflects a concentration in that industry or group of industries. The Fund will not otherwise concentrate its investments in securities of issuers in any one industry or group of industries. <tt>As of the date of this Prospectus, the Fund has not commenced operations <br />and therefore does not have a performance history. Once available, the <br />Fund's performance information will be accessible on the Fund's website <br />at www.invescopowershares.com and will provide some indication of the <br />risks 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_S000038518Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> Investors may pay brokerage commissions on their purchases and sales of Shares, which are not reflected in the table or the example below. 51 160 0.0000 0.0050 0.0050 0001378872 ck0001378872:SummaryS000038518Memberck0001378872:S000038518Memberck0001378872:C000118889Member 2012-12-28 2012-12-28 0001378872 ck0001378872:SummaryS000038518Memberck0001378872:S000038518Member 2012-12-28 2012-12-28 0001378872 2012-12-28 2012-12-28 iso4217:USD pure "Other Expenses" are based on estimated amounts for the current fiscal year. 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PowerShares Fundamental Emerging Markets Local Debt Portfolio (Prospectus Summary) | PowerShares Fundamental Emerging Markets Local Debt Portfolio
PowerShares Fundamental Emerging Markets Local Debt Portfolio
Investment Objective
The PowerShares Fundamental Emerging Markets Local Debt Portfolio (the "Fund")
seeks investment results that generally correspond (before fees and expenses) to
the price and yield of the Citi RAFI Sovereign Emerging Markets Local Currency
Bond Index Master (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 Fundamental Emerging Markets Local Debt Portfolio
Management Fees 0.50%
Other Expenses [1] none
Total Annual Fund Operating Expenses 0.50%
[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 Fundamental Emerging Markets Local Debt Portfolio
51 160
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 Fund 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. At 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 80% of its total assets in the bonds
issued by the national governments of emerging market countries that comprise
the Underlying Index. The Underlying Index measures the potential return of a
portfolio of bonds issued by the national governments of 14 emerging market
countries, all in the respective local currency. Research Affiliates, LLC ("RA")
and Citigroup Index LLC ("Citigroup" or the "Index Provider") jointly select the
emerging market countries from a set of existing indices that Citigroup has
produced that measure government bond markets. To be included in the Underlying
Index, countries must have at least an investment grade domestic sovereign debt
rating by either Standard & Poor's ("S&P") or Moody's Investors Service, Inc.
("Moody's").

Strictly in accordance with its existing guidelines and mandated procedures,
Citigroup selects bonds from the eligible emerging market countries for
inclusion in the Underlying Index that have at least one year to maturity and
a minimum rating of "C" by either S&P or Moody's. Using RA's a proprietary
weighting methodology, the Index Provider annually weights the bonds of each
selected country in the Underlying Index based on that country's composite
rankings in four fundamental measures of a country's economic strength: gross
domestic product, population, land area and energy use. As of June 30, 2012,
the Underlying Index included bonds issued by the national governments of Brazil,
Colombia, Chile, the Czech Republic, Hungary, Indonesia, Malaysia, Mexico, Peru,
the Philippines, Poland, South Africa, Thailand and Turkey.

The Fund does not purchase all of the securities in the Underlying Index;
instead, the Fund utilizes a "sampling" methodology to seek to achieve its
investment objective.

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 group of industries only to the extent that the Underlying Index
reflects a concentration in that industry or group of industries. The Fund will
not otherwise concentrate its investments in securities of issuers in any one
industry or group of industries.
Principal Risks of Investing in the Fund
The following summarizes the principal risks of the Fund.

Fixed-Income Securities Risk. Fixed-income securities are subject to interest
rate risk and credit risk. Interest rate risk refers to fluctuations in the
value of a fixed-income security resulting from changes in the general level of
interest rates. When the general level of interest rates goes up, the prices of
most fixed-income securities go down. When the general level of interest rates
goes down, the prices of most fixed-income securities go up. Fixed-income
securities with longer maturities typically are more sensitive to changes in
interest rates, making them more volatile than securities with shorter maturities.
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. Debt instruments are subject to varying degrees of credit risk, which
may be reflected in credit ratings. There is a possibility that the credit
rating of a fixed-income security may be downgraded after purchase, which may
adversely affect the value of the security.

Sovereign Debt Risk. Risks of sovereign debt include the availability of
sufficient foreign exchange on the date a payment is due, the relative size of
the debt service burden to the economy as a whole, and the government debtor's
policy towards the International Monetary Fund and the political constraints to
which a government debtor may be subject. The governmental authority that
controls the repayment of sovereign debt may be unwilling or unable to repay the
principal and/or interest when due in accordance with the terms of such
securities due to the extent of its foreign reserves. If an issuer of sovereign
debt defaults on payments of principal and/or interest, the Fund may have
limited legal recourse against the issuer and/or guarantor. In certain cases,
remedies must be pursued in the courts of the defaulting party itself, and the
Fund's ability to obtain recourse may be limited.

Emerging Markets Sovereign Debt Risk. Government obligors in emerging market
countries are among the world's largest debtors to commercial banks, other
governments, international financial organizations and other financial
institutions. Historically, certain issuers of the government debt securities in
which the Fund may invest have experienced substantial difficulties in meeting
their external debt obligations, resulting in defaults on certain obligations
and the restructuring of certain indebtedness. Such restructuring arrangements
have included obtaining additional credit to finance outstanding obligations and
the reduction and rescheduling of payments of interest and principal through the
negotiation of new or amended credit agreements.

Currency Risk. The Fund invests in the bonds of governments located in emerging
market countries and much of the income received by the Fund will be in foreign
currencies. Because the Fund's net asset value ("NAV") is determined in U.S.
dollars, the Fund's NAV could decline if the currency of the non-U.S. markets in
which the Fund invests depreciate against the U.S. dollar, even if the value of
the Fund's holdings, measured in the foreign currencies, increases.

Non-Investment Grade Securities Risk. The Fund may invest in securities that are
rated below investment grade (i.e., securities rated below "BBB" by S&P or "Baa"
by Moody's); however, the Fund will only invest in bonds issued by national
governments of countries that have a minimum domestic sovereign debt rating of
"C" by either S&P or Moody's. Non-investment grade securities and unrated
securities of comparable credit quality are subject to the increased risk of an
issuer's inability to meet principal and interest payment obligations. These
securities may be subject to greater price volatility due to such factors as
interest rate sensitivity, negative perceptions of the non-investment grade
securities markets generally, real or perceived adverse economic conditions and
less secondary market liquidity. If the issuer of non-investment grade
securities defaults, the Fund may incur additional expenses to seek recovery.

Liquidity Risk. Liquidity risk exists when a particular investment is difficult
to purchase or sell. If the Fund invests in illiquid securities or current
portfolio securities become illiquid, it may reduce the returns of the Fund
because the Fund may be unable to sell the illiquid securities at an
advantageous time or price.

Call Risk. 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. If an issuer exercised such a call during a period of
declining interest rates, the Fund may have to replace such called security with
a lower yielding security. If that were to happen, the Fund's net investment
income could fall.

Valuation Risk. The Fund will invest in foreign bonds and, because foreign
exchanges may be open on days when the Fund does not price its shares, the value
of the non-U.S. securities in the Fund's portfolio may change on days when you
will not be able to purchase or sell your Shares.

Portfolio Turnover Risk. The Fund's Underlying Index rebalances monthly and, as
a result, the Fund may engage in frequent trading of its portfolio securities in
connection with the rebalancing or adjustment of the Underlying Index. This may
result in a high portfolio turnover rate. A portfolio turnover rate of 200%, for
example, is equivalent to the Fund buying and selling all of its securities two
times during the course of a year. A high portfolio turnover rate (such as 100%
or more) could result in high brokerage costs for the Fund. A high portfolio
turnover rate also can result in an increase in taxable capital gains
distributions to the Fund's shareholders and an increased likelihood that the
capital gains will be taxable at ordinary rates.

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 NAV.

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. Additionally, the
Fund's use of a representative sampling approach may cause the Fund not to be as
well-correlated with the return of the Underlying Index as would be the case if
the Fund purchased all of the securities in the Underlying Index in the
proportions represented in 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.

Sampling Risk. Although it may hold as many securities as necessary to achieve
its investment objective, the Fund, by using a representative sampling approach,
generally will hold a smaller number of securities than the Underlying Index. As
a result, an adverse development to an issuer of securities that the Fund holds
could result in a greater decline in NAV than would be the case if the Fund held
all of the securities in the Underlying Index. To the extent the assets in the
Fund are smaller, these risks will be greater.

Cash Transaction Risk. Unlike most exchange-traded funds ("ETFs"), the Fund
effects creations and redemptions primarily for cash, rather than principally
for in-kind securities, because of the nature of the Fund's investments. As
such, investments in the Fund may be less tax efficient than an investment in
conventional ETFs.

Index Risk. Unlike many investment companies, the Fund does not utilize an
investing strategy that seeks returns in excess of the Underlying Index.
Therefore, the Fund would not necessarily buy or sell a security unless that
security is added or removed, respectively, from its 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 Dec. 28, 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 Dec. 28, 2012
Document Effective Date dei_DocumentEffectiveDate Dec. 28, 2012
XML 14 R5.htm IDEA: XBRL DOCUMENT v2.4.0.6
Label Element Value
Risk Return [Abstract] rr_RiskReturnAbstract  
ProspectusDate rr_ProspectusDate Dec. 28, 2012
PowerShares Fundamental Emerging Markets Local Debt Portfolio (Prospectus Summary) | PowerShares Fundamental Emerging Markets Local Debt Portfolio
 
Risk Return [Abstract] rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading PowerShares Fundamental Emerging Markets Local Debt Portfolio
Objective [Heading] rr_ObjectiveHeading Investment Objective
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock The PowerShares Fundamental Emerging Markets Local Debt Portfolio (the "Fund")
seeks investment results that generally correspond (before fees and expenses) to
the price and yield of the Citi RAFI Sovereign Emerging Markets Local Currency
Bond Index Master (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 Fund 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. At the date of this Prospectus,
the Fund does not have an operating history and turnover data therefore is
not available.
Expense Exchange Traded Fund Commissions [Text] rr_ExpenseExchangeTradedFundCommissions Investors may pay brokerage commissions on their purchases and sales of Shares, which are not reflected in the table or the example below.
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 80% of its total assets in the bonds
issued by the national governments of emerging market countries that comprise
the Underlying Index. The Underlying Index measures the potential return of a
portfolio of bonds issued by the national governments of 14 emerging market
countries, all in the respective local currency. Research Affiliates, LLC ("RA")
and Citigroup Index LLC ("Citigroup" or the "Index Provider") jointly select the
emerging market countries from a set of existing indices that Citigroup has
produced that measure government bond markets. To be included in the Underlying
Index, countries must have at least an investment grade domestic sovereign debt
rating by either Standard & Poor's ("S&P") or Moody's Investors Service, Inc.
("Moody's").

Strictly in accordance with its existing guidelines and mandated procedures,
Citigroup selects bonds from the eligible emerging market countries for
inclusion in the Underlying Index that have at least one year to maturity and
a minimum rating of "C" by either S&P or Moody's. Using RA's a proprietary
weighting methodology, the Index Provider annually weights the bonds of each
selected country in the Underlying Index based on that country's composite
rankings in four fundamental measures of a country's economic strength: gross
domestic product, population, land area and energy use. As of June 30, 2012,
the Underlying Index included bonds issued by the national governments of Brazil,
Colombia, Chile, the Czech Republic, Hungary, Indonesia, Malaysia, Mexico, Peru,
the Philippines, Poland, South Africa, Thailand and Turkey.

The Fund does not purchase all of the securities in the Underlying Index;
instead, the Fund utilizes a "sampling" methodology to seek to achieve its
investment objective.

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 group of industries only to the extent that the Underlying Index
reflects a concentration in that industry or group of industries. The Fund will
not otherwise concentrate its investments in securities of issuers in any one
industry or group of industries.
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 group of industries only to the extent that the Underlying Index reflects a concentration in that industry or group of industries. The Fund will not otherwise concentrate its investments in securities of issuers in any one industry or group of industries.
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.

Fixed-Income Securities Risk. Fixed-income securities are subject to interest
rate risk and credit risk. Interest rate risk refers to fluctuations in the
value of a fixed-income security resulting from changes in the general level of
interest rates. When the general level of interest rates goes up, the prices of
most fixed-income securities go down. When the general level of interest rates
goes down, the prices of most fixed-income securities go up. Fixed-income
securities with longer maturities typically are more sensitive to changes in
interest rates, making them more volatile than securities with shorter maturities.
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. Debt instruments are subject to varying degrees of credit risk, which
may be reflected in credit ratings. There is a possibility that the credit
rating of a fixed-income security may be downgraded after purchase, which may
adversely affect the value of the security.

Sovereign Debt Risk. Risks of sovereign debt include the availability of
sufficient foreign exchange on the date a payment is due, the relative size of
the debt service burden to the economy as a whole, and the government debtor's
policy towards the International Monetary Fund and the political constraints to
which a government debtor may be subject. The governmental authority that
controls the repayment of sovereign debt may be unwilling or unable to repay the
principal and/or interest when due in accordance with the terms of such
securities due to the extent of its foreign reserves. If an issuer of sovereign
debt defaults on payments of principal and/or interest, the Fund may have
limited legal recourse against the issuer and/or guarantor. In certain cases,
remedies must be pursued in the courts of the defaulting party itself, and the
Fund's ability to obtain recourse may be limited.

Emerging Markets Sovereign Debt Risk. Government obligors in emerging market
countries are among the world's largest debtors to commercial banks, other
governments, international financial organizations and other financial
institutions. Historically, certain issuers of the government debt securities in
which the Fund may invest have experienced substantial difficulties in meeting
their external debt obligations, resulting in defaults on certain obligations
and the restructuring of certain indebtedness. Such restructuring arrangements
have included obtaining additional credit to finance outstanding obligations and
the reduction and rescheduling of payments of interest and principal through the
negotiation of new or amended credit agreements.

Currency Risk. The Fund invests in the bonds of governments located in emerging
market countries and much of the income received by the Fund will be in foreign
currencies. Because the Fund's net asset value ("NAV") is determined in U.S.
dollars, the Fund's NAV could decline if the currency of the non-U.S. markets in
which the Fund invests depreciate against the U.S. dollar, even if the value of
the Fund's holdings, measured in the foreign currencies, increases.

Non-Investment Grade Securities Risk. The Fund may invest in securities that are
rated below investment grade (i.e., securities rated below "BBB" by S&P or "Baa"
by Moody's); however, the Fund will only invest in bonds issued by national
governments of countries that have a minimum domestic sovereign debt rating of
"C" by either S&P or Moody's. Non-investment grade securities and unrated
securities of comparable credit quality are subject to the increased risk of an
issuer's inability to meet principal and interest payment obligations. These
securities may be subject to greater price volatility due to such factors as
interest rate sensitivity, negative perceptions of the non-investment grade
securities markets generally, real or perceived adverse economic conditions and
less secondary market liquidity. If the issuer of non-investment grade
securities defaults, the Fund may incur additional expenses to seek recovery.

Liquidity Risk. Liquidity risk exists when a particular investment is difficult
to purchase or sell. If the Fund invests in illiquid securities or current
portfolio securities become illiquid, it may reduce the returns of the Fund
because the Fund may be unable to sell the illiquid securities at an
advantageous time or price.

Call Risk. 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. If an issuer exercised such a call during a period of
declining interest rates, the Fund may have to replace such called security with
a lower yielding security. If that were to happen, the Fund's net investment
income could fall.

Valuation Risk. The Fund will invest in foreign bonds and, because foreign
exchanges may be open on days when the Fund does not price its shares, the value
of the non-U.S. securities in the Fund's portfolio may change on days when you
will not be able to purchase or sell your Shares.

Portfolio Turnover Risk. The Fund's Underlying Index rebalances monthly and, as
a result, the Fund may engage in frequent trading of its portfolio securities in
connection with the rebalancing or adjustment of the Underlying Index. This may
result in a high portfolio turnover rate. A portfolio turnover rate of 200%, for
example, is equivalent to the Fund buying and selling all of its securities two
times during the course of a year. A high portfolio turnover rate (such as 100%
or more) could result in high brokerage costs for the Fund. A high portfolio
turnover rate also can result in an increase in taxable capital gains
distributions to the Fund's shareholders and an increased likelihood that the
capital gains will be taxable at ordinary rates.

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 NAV.

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. Additionally, the
Fund's use of a representative sampling approach may cause the Fund not to be as
well-correlated with the return of the Underlying Index as would be the case if
the Fund purchased all of the securities in the Underlying Index in the
proportions represented in 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.

Sampling Risk. Although it may hold as many securities as necessary to achieve
its investment objective, the Fund, by using a representative sampling approach,
generally will hold a smaller number of securities than the Underlying Index. As
a result, an adverse development to an issuer of securities that the Fund holds
could result in a greater decline in NAV than would be the case if the Fund held
all of the securities in the Underlying Index. To the extent the assets in the
Fund are smaller, these risks will be greater.

Cash Transaction Risk. Unlike most exchange-traded funds ("ETFs"), the Fund
effects creations and redemptions primarily for cash, rather than principally
for in-kind securities, because of the nature of the Fund's investments. As
such, investments in the Fund may be less tax efficient than an investment in
conventional ETFs.

Index Risk. Unlike many investment companies, the Fund does not utilize an
investing strategy that seeks returns in excess of the Underlying Index.
Therefore, the Fund would not necessarily buy or sell a security unless that
security is added or removed, respectively, from its 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 Fundamental Emerging Markets Local Debt Portfolio (Prospectus Summary) | PowerShares Fundamental Emerging Markets Local Debt Portfolio | PowerShares Fundamental Emerging Markets Local Debt Portfolio
 
Risk Return [Abstract] rr_RiskReturnAbstract  
Management Fees rr_ManagementFeesOverAssets 0.50%
Other Expenses rr_OtherExpensesOverAssets none [1]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.50%
Expense Example, with Redemption, 1 Year rr_ExpenseExampleYear01 51
Expense Example, with Redemption, 3 Years rr_ExpenseExampleYear03 160
[1] "Other Expenses" are based on estimated amounts for the current fiscal year.
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