PYH

PowerShares Morningstar StockInvestor Core Portfolio ETF

The PowerShares Morningstar StockInvestor Core Portfolio (Fund) is based on the Morningstar StockInvestor Core Index (Index). The Fund will normally invest at least 90% of its total assets in common stocks that comprise the Index. The Index is comprised of approximately 50 stocks of high-quality companies selected by Morningstar. The Index is reconstituted and rebalanced quarterly using the methodology described above. Effective June 30, 2010, the name of the PowerShares Value Line Industry Rotation Portfolio changed to PowerShares Morningstar StockInvestor Core Portfolio. Its underlying index also changed to the Morningstar StockInvestor Core Index. Prior to June 30, 2010, the Fund's underlying index was the Value Line Industry Rotation Index.
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