The PowerShares Preferred Portfolio (Fund) is based on the Merrill Lynch Fixed Rate Preferred Securities Index (Index). This Index is designed to replicate the total return of a diversified group of investment-grade preferred securities. (Securities must be investment-grade, based on an average of three leading ratings agencies: Moody\'s, S&P and Fitch). The Index is rebalanced on a monthly basis.
* Trading Characteristics Definitions Spread : The average dollar difference between the best bid and best offer across all exchanges for the specified time period, weighted by volume. *Spread : Is the monthly average of the daily spread. % Spread : The average spread amount divided by the average bid-ask midpoint, weighted by volume. Share Volume : Composite Volume - total number of shares traded on all exchanges and Nasdaq. Dollar Volume : Dollar amount of shares traded on each exchange for the specified symbol, based on the stocks average price for the time period specified.
