KBW has partnered with Invesco PowerShares on a group of financial services-related ETFs. These products make up KBW's family of ETFs, which were designed to target a range of subsectors within the financial services sector. From time to time, our trading desk acts as a market maker in these ETFs.
|ETF Name||ETF Ticker||Creation Unit Size||# of Stocks||Index Ticker|
|PowerShares KBW Bank Portfolio||KBWB||50,000||24||BKX|
|PowerShares KBW Regional Banking Portfolio||KBWR||50,000||50||KRX|
|PowerShares KBW Property and Casualty Insurance Portfolio||KBWP||50,000||24||KPX|
|PowerShares KBW High Dividend Yield Portfolio||KBWD||50,000||24-40||KDX|
|PowerShares KBW Premium Yield Equity REIT Portfolio||KBWY||50,000||24-40||KYX|
KBW Nasdaq Indexes Rules for Index Management. Please click here for the Indexes methodology.
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ETFs—Important Disclosures: The shares ("Shares") of ETFs are not sponsored, endorsed, sold, or promoted by KBW. KBW makes no representation or warranty, express or implied, to the owners of the Shares or any member of the public regarding the advisability of investing in securities generally or in the Shares particularly or the ability of its Indexes to track general stock market performance. The only relationship of KBW to Invesco PowerShares Capital Management LLC is the licensing of certain trademarks and trade names of KBW and its Indexes which are determined, composed, and calculated by KBW without regard to Invesco PowerShares Capital Management LLC, the fund, or the Shares. KBW has no obligation to take the needs of Invesco PowerShares Capital Management LLC or the owners of the shares into consideration in determining, composing, or calculating the Indexes. KBW is not responsible for and has not participated in any determination or calculation made with respect to issuance or redemption of the Shares. KBW has no obligation or liability in connection with the administration, marketing, or trading of the Shares.
Compensation. KBW and Invesco PowerShares Capital Management LLC are parties to an index licensing agreement wherein KBW licenses its Indexes to Invesco PowerShares Capital Management LLC and KBW receives as compensation payments based on the amount of assets under management in the ETFs (which the licensed Indexes underlie) and which may be recommended in this report.
ETF and Index Reports. The author of index and related ETF reports is the Director of KBW’s Research Department, who is also the head of the KBW Index Committee. This Index Committee selects index components for the indexes upon which the recommended ETFs are based.
ETF Risks. There are risks involved with investing in ETFs, including possible loss of money. ETFs may not always trade or price as expected. Generally, security classifications used in calculating allocation tables are as of the last trading day of the previous month. ETFs trade like stocks, are subject to investment risk, fluctuate in market value and may trade at prices above or below the ETFs net asset value. Diversification does not ensure a profit and may not protect against loss in declining markets. Investors should refer to the individual ETF prospectus for a more detailed discussion of the specific risks and considerations for an individual ETF.
Investing in a single sector may be subject to more volatility than funds investing in a diverse group of sectors. Brokerage commissions and ETF expenses will reduce returns. In general, ETFs can be expected to move up or down in value with the value of the applicable index. Although ETFs may be bought and sold on the exchange through any brokerage account, ETFs are not individually redeemable from the Fund. Investors may acquire ETFs and tender them for redemption through the Fund in Creation Unit Aggregations only, please see the prospectus (link below) for more details. Shares are not actively managed and are subject to risks including those regarding short selling and margin maintenance requirements. Past performance is not necessarily indicative of future results.
An investor should consider the Funds' investment objectives, risks, charges and expenses carefully before investing. This and other information can be found in their prospectuses. For this and more complete information about the Funds, call InvescoPowerShares at 1-800-983-0903 or visit https://www.powershares.com for a prospectus. The prospectus should be read carefully before investing.
Shares of the ETFs funds are not guaranteed or insured by the FDIC or by another governmental agency; they are not obligations of the FDIC nor are they deposits or obligations of or guaranteed by KBW, or Invesco PowerShares Capital Management LLC. ETFs are distributed by Invesco Distributors, Inc. the distributor of the PowerShares Exchange-Traded Fund Trust II. PowerShares® is a registered trademark of Invesco PowerShares Capital Management LLC.
The following indexes: U.S.: KBW Nasdaq Bank Index (BKX), KBW Nasdaq Insurance Index (KIX), KBW Nasdaq Capital Markets Index (KSX), KBW Nasdaq Regional Banking Index (KRX), KBW Nasdaq Mortgage Finance Index (MFX), KBW Nasdaq Property & Casualty Index (KPX), KBW Nasdaq Financial Technology Index (KFTX), KBW Nasdaq Premium Yield Equity REIT Index (KYX); KBW Nasdaq Financial Sector Dividend Yield Index (KDX) and Global: KBW Nasdaq Global Bank Index (GBKX) are the property of Keefe, Bruyette & Woods, Inc. (KBW) and Nasdaq.
KBW and Nasdaq do not guarantee the accuracy and/or completeness of the Indexes, makes no express or implied warranties with respect to the Indexes and shall have no liability for any damages, claims, losses or expenses caused by errors in the index calculation. KBW and Nasdaq make no representation regarding the advisability of investing in options on the Index. Past performance is not necessarily indicative of future results.
This communication is not an offer to sell or a solicitation to buy the securities mentioned. The information relating to any company herein is derived from publicly available sources and Keefe, Bruyette & Woods, Inc. makes no representation as to the accuracy or completeness of such information.