The PowerShares DWA Developed Markets Momentum Portfolio (Fund) is based on the Dorsey Wright® Developed Markets Technical Leaders Index (DWA Developed Markets Technical Leaders Index). The Fund will normally invest at least 90% of its total assets in securities of developed economies within Dorsey Wright & Associates’ classification definition, as well as American depositary receipts (ADRs) and global depositary receipts (GDRs) based on securities in the Index. This Index includes approximately 100 companies from the NASDAQ Developed Markets Ex United States Index that possess powerful relative strength characteristics and are domiciled in developed markets including, but not limited to Australia, Canada, Finland, France, Germany, Hong Kong, Italy, Japan, Norway, Portugal, Singapore, Spain and Switzerland. The Index excludes US companies listed on a US stock exchange. The Index is computed using the net return, which withholds applicable taxes for non-resident investors. The Fund and the Index are rebalanced and reconstituted quarterly.