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0001104659-11-034741.txt : 20110615 0001104659-11-034741.hdr.sgml : 20110615 20110615111702 ACCESSION NUMBER: 0001104659-11-034741 CONFORMED SUBMISSION TYPE: 485BPOS PUBLIC DOCUMENT COUNT: 7 FILED AS OF DATE: 20110615 DATE AS OF CHANGE: 20110615 EFFECTIVENESS DATE: 20110615 FILER: COMPANY DATA: COMPANY CONFORMED NAME: POWERSHARES EXCHANGE TRADED FUND TRUST CENTRAL INDEX KEY: 0001209466 IRS NUMBER: 000000000 STATE OF INCORPORATION: MA FISCAL YEAR END: 0430 FILING VALUES: FORM TYPE: 485BPOS SEC ACT: 1933 Act SEC FILE NUMBER: 333-102228 FILM NUMBER: 11912277 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 FILER: COMPANY DATA: COMPANY CONFORMED NAME: POWERSHARES EXCHANGE TRADED FUND TRUST CENTRAL INDEX KEY: 0001209466 IRS NUMBER: 000000000 STATE OF INCORPORATION: MA FISCAL YEAR END: 0430 FILING VALUES: FORM TYPE: 485BPOS SEC ACT: 1940 Act SEC FILE NUMBER: 811-21265 FILM NUMBER: 11912278 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

0001209466 S000032768 PowerShares Fundamental Pure Large Growth Portfolio

C000101127 PowerShares Fundamental Pure Large Growth Portfolio

0001209466 S000032769 PowerShares Fundamental Pure Large Value Portfolio

C000101128 PowerShares Fundamental Pure Large Value Portfolio

485BPOS 1 a11-7044_6485bpos.htm 485BPOS

AS FILED WITH THE SECURITIES AND EXCHANGE COMMISSION ON JUNE 15, 2011.

No. 333-102228

No. 811-21265

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. 236	x
		and/or

	REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT OF 1940
	Amendment No. 238	x

(Check appropriate box or boxes)

POWERSHARES EXCHANGE-TRADED FUND TRUST

(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		Stuart M. Strauss
Wheaton, IL 60187		Dechert LLP
(Name and Address of Agent for Service)		1095 Avenue of the Americas
		New York, NY 10036

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 Pure Large Growth Portfolio

PowerShares Fundamental Pure Large Value 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 15th day of June, 2011.

	PowerShares Exchange-Traded Fund Trust

	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	June 15, 2011
Andrew Schlossberg

/s/ Bruce T. Duncan	Treasurer and Secretary	June 15, 2011
Bruce T. Duncan

*/s/ H. Bruce Bond	Chairman and Trustee	June 15, 2011
H. Bruce Bond

*/s/ Kevin M. Carome	Trustee	June 15, 2011
Kevin M. Carome

*/s/ Ronn R. Bagge	Trustee	June 15, 2011
Ronn R. Bagge

*/s/ Todd J. Barre	Trustee	June 15, 2011
Todd J. Barre

*/s/ Marc M. Kole	Trustee	June 15, 2011
Marc M. Kole

*/s/ Philip M. Nussbaum	Trustee	June 15, 2011
Philip M. Nussbaum

*/s/ Donald H. Wilson	Trustee	June 15, 2011
Donald H. Wilson

*By: /s/ Stuart Strauss		June 15, 2011
Stuart M. Strauss Attorney-In-Fact

Exhibit Index

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 ck0001209466-20110525.xml XBRL INSTANCE DOCUMENT POWERSHARES EXCHANGE TRADED FUND TRUST 2011-05-25 2011-05-25 2011-05-25 485BPOS 0001209466 false 2011-05-25 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. Investors may pay brokerage commissions on their purchases and sales of Shares, which are not reflected in the table or the example below. An investment in the Fund is not a deposit with a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Example "Other Expenses" are based on estimated amounts for the current fiscal year. The Fund has not yet commenced operations and therefore does not have a performance history. Investment Objective The Fund's Shares will change in value, and you could lose money by investing in the Fund. The Fund may not achieve its investment objective. 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 <pre>The Fund will normally invest at least 80% of its total assets in common stocks of fundamentally large companies. The Fund considers "fundamentally large" companies to be those companies that comprise the Underlying Index. The Fund will invest at least 90% of its total assets in the component securities that comprise the Underlying Index. The Underlying Index is comprised of common stocks of "large value" U.S. companies (including real estate investment trusts ("REITs")), as classified by Research Affiliates, LLC ("Research Affiliates®" or the "Index Provider"), based on the Index Provider's Fundamental Index® methodology. The Index Provider selects the common stocks to be included in the Underlying Index from a universe comprised of the 2,500 largest U.S. companies. In the selection of the common stocks, the Index Provider uses fundamental measures of company size, rather than market capitalization (company share price multiplied by number of shares outstanding). The Index Provider uses the following fundamental measures to select common stocks for inclusion in the Underlying Index: book value, income, sales and dividends. A composite fundamental weight is calculated for each common stock by equally weighting the four fundamental measures. The Index Provider then ranks each common stock by its fundamental weight and, based on this ranking, the common stocks are divided into three size groups: "large," "mid" and "small." The common stocks ranked in the top 70% of the eligible universe by fundamental weight comprise the "large" size group, the next 20% comprise the "mid" size group, and the final 10% comprise the "small" size group. The "large" size group is then further divided by the Index Provider into "growth," "core" or "value" subsets based on the Fundamental Index® methodology style score, which uses a combination of fundamental growth rates and fundamental valuation ratios. The Underlying Index is comprised only of those common stocks classified by the Index Provider as both "large" and "value." The use of the word "Pure" in the Fund's name signifies a particular type of style (i.e., "growth" or "value") investing, where a particular stock is classified as either "growth" or "value," but not both. Whereas traditionally "value" funds in the marketplace have in practice also included some stocks that would be considered "growth" stocks in their portfolios, the Fund, in tracking the Underlying Index, intends to principally invest exclusively in "value" stocks. Accordingly, the Fund's "pure value" portfolio will differ from a traditional "value" portfolio because the Fund's portfolio will not include "growth" stocks. The Fund will generally invest in all of the securities comprising its Underlying Index in proportion to their weightings in the Underlying Index. As of the date of this Prospectus, a significant percentage (i.e., greater than 15%) of the Underlying Index was comprised of companies in the financial services and energy sectors. The financial services sector includes companies that are principally engaged in the business of providing services and products, including banking, investment services, insurance and real estate finance services. The energy sector includes companies that are principally engaged in the business of producing, distributing or servicing energy-related products, including oil and gas exploration and production, refining, oil services, pipeline, and solar, wind and other non-oil based energy. Sector allocation is not a factor in the construction of the Underlying Index and, accordingly, the Underlying Index's allocations to any particular sector may increase or decrease over time. Concentration Policy. The Fund will invest more than 25% of the value of its net assets in securities of issuers in an industry or group of industries to the extent that the Underlying Index concentrates in an industry or group of industries.</pre> PowerShares Fundamental Pure Large Value Portfolio Portfolio Turnover <pre>The following summarizes the principal risks that have been identified for the Fund. Equity Risk. The prices of common stocks change in response to many factors, including the historical and prospective earnings of the issuer, the value of its assets, general market and economic conditions, interest rates, investor perceptions and market liquidity. "Fundamentally Large" Company Risk. Returns on investments in common stocks of "fundamentally large" U.S. companies could trail the returns on investments in common stocks of smaller companies. Value Investing Style Risk. A "value" style of investing emphasizes undervalued companies with characteristics for improved valuations. This style of investing is subject to the risk that the valuations never improve or that the returns on "value" equity securities are less than returns on other styles of investing or the overall stock market. Different types of stocks tend to shift in and out of favor depending on market and economic conditions. Thus, the value of the Fund's investments will vary and at times may be lower or higher than that of other types of investments. Concentration Risk. A significant percentage of the Underlying Index may be comprised of issuers in a single industry or group of industries. If the Fund is focused in an industry or group of industries, it may present more risks than if it were broadly invested over numerous industries and groups of industries. At times, such industry or group of industries may be out of favor and underperform other industries or the market as a whole. Financial Services Sector Risk. The Fund may be susceptible to adverse economic or regulatory occurrences affecting the financial services sector. Investing in the financial services sector involves risks, including the following: financial services companies are subject to extensive government regulation and, as a result, their profitability may be affected by new regulations or regulatory interpretations; unstable interest rates can have a disproportionate effect on the financial services sector; financial services companies whose securities the Fund may purchase may themselves have concentrated portfolios which makes them vulnerable to economic conditions that affect that sector; and financial services companies have been affected by increased competition, which could adversely affect the profitability or viability of such companies. Energy Sector Risk. Companies in the energy sector may be adversely affected by changes in worldwide energy prices, exploration and production spending. These companies are also affected by changes in government regulation, world events and economic conditions. In addition, these companies are at risk of civil liability from accidents resulting in injury, loss of life or property, pollution or other environmental damage claims and risk of loss from terrorism and natural disasters. Companies in this sector could be adversely affected by commodity price volatility, changes in exchange rates, imposition of import controls, increased competition, depletion of resources, development of alternative energy sources, technological developments and labor relations. REIT Risk. Although the Fund will not invest in real estate directly, the REITs in which the Fund will invest will be subject to risks inherent in the direct ownership of real estate. These risks include, but are not limited to, the risk of a possible lack of mortgage funds and associated interest rate risks, overbuilding, property vacancies, increases in property taxes and operating expenses, changes in zoning laws, losses due to environmental damages and changes in neighborhood values and appeal to purchasers. Replication Management Risk. Unlike many investment companies, the Fund does not utilize an investing strategy that seeks returns in excess of the Underlying Index. Therefore, it would not necessarily buy or sell a security unless that security is added or removed, respectively, from the Underlying Index. 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. 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. 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. The Fund's Shares will change in value, and you could lose money by investing in the Fund. The Fund may not achieve its investment objective. An investment in the Fund is not a deposit with a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.</pre> Fund Fees and Expenses Principal Investment Strategies www.InvescoPowerShares.com The Fund will invest more than 25% of the value of its net assets in securities of issuers in an industry or group of industries to the extent that the Underlying Index concentrates in an industry or group of industries. <pre>The Fund has not yet 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.</pre> <pre>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.</pre> <div style="display:none">~ http://www.InvescoPowerShares.com/role/OperatingExpensesData_S000032769Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) <pre>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 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. The Fund is newly established. Accordingly, information on the Fund's portfolio turnover rate is not available at the date of this Prospectus.</pre> <div style="display:none">~ http://www.InvescoPowerShares.com/role/ExpenseExample_S000032769Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <pre>The Fund seeks investment results that correspond (before fees and expenses) generally to the price and yield of the RAFI® Fundamental Large Value Index (the "Underlying Index").</pre> <pre>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.</pre> PXLV 2012-08-31 -0.0006 0.0016 0.0029 40 138 0.0039 0.0045 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. Investors may pay brokerage commissions on their purchases and sales of Shares, which are not reflected in the table or the example below. An investment in the Fund is not a deposit with a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Example "Other Expenses" are based on estimated amounts for the current fiscal year. The Fund has not yet commenced operations and therefore does not have a performance history. Investment Objective The Fund's 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 <pre>The Fund will normally invest at least 80% of its total assets in common stocks of fundamentally large companies. The Fund considers "fundamentally large" companies to be those companies that comprise the Underlying Index. The Fund will invest at least 90% of its total assets in the component securities that comprise the Underlying Index. The Underlying Index is comprised of common stocks of "large growth" U.S. companies (including real estate investment trusts ("REITs")), as classified by Research Affiliates, LLC ("Research Affiliates®" or the "Index Provider"), based on the Index Provider's Fundamental Index® methodology. The Index Provider selects the common stocks to be included in the Underlying Index from a universe comprised of the 2,500 largest U.S. companies. In the selection of the common stocks, the Index Provider uses fundamental measures of company size, rather than market capitalization (company share price multiplied by number of shares outstanding). The Index Provider uses the following fundamental measures to select common stocks for inclusion in the Underlying Index: book value, income, sales and dividends. A composite fundamental weight is calculated for each common stock by equally weighting the four fundamental measures. The Index Provider then ranks each common stock by its fundamental weight and, based on this ranking, the common stocks are divided into three size groups: "large," "mid" and "small." The common stocks ranked in the top 70% of the eligible universe by fundamental weight comprise the "large" size group, the next 20% comprise the "mid" size group, and the final 10% comprise the "small" size group. The "large" size group is then further divided by the Index Provider into "growth," "core" or "value" subsets based on the Fundamental Index® methodology style score, which uses a combination of fundamental growth rates and fundamental valuation ratios. The Underlying Index is comprised only of those common stocks classified by the Index Provider as both "large" and "growth." The use of the word "Pure" in the Fund's name signifies a particular type of style (i.e., "growth" or "value") investing, where a particular stock is classified as either "growth" or "value," but not both. Whereas traditionally "growth" funds in the marketplace have in practice also included some stocks that would be considered "value" stocks in their portfolios, the Fund, in tracking the Underlying Index, intends to principally invest exclusively in "growth" stocks. Accordingly, the Fund's "pure growth" portfolio will differ from a traditional "growth" portfolio because the Fund's portfolio will not include "value" stocks. The Fund will generally invest in all of the securities comprising its Underlying Index in proportion to their weightings in the Underlying Index. As of the date of this Prospectus, a significant percentage (i.e., greater than 15%) of the Underlying Index was comprised of companies in the technology and consumer staples sectors. The technology sector includes companies that are principally engaged in the business of providing technology-related products and services,including computer hardware and software, Internet, electronics and semiconductors and communication technologies. The consumer staples sector includes companies that are principally engaged in the business of providing consumer goods and services that have non-cyclical characteristics, including tobacco, textiles, food and beverage, and non-discretionary retail. Sector allocation is not a factor in the construction of the Underlying Index and, accordingly, the Underlying Index's allocations to any particular sector may increase or decrease over time. Concentration Policy. The Fund will invest more than 25% of the value of its net assets in securities of issuers in an industry or group of industries to the extent that the Underlying Index concentrates in an industry or group of industries.</pre> PowerShares Fundamental Pure Large Growth Portfolio Portfolio Turnover <pre>The following summarizes the principal risks that have been identified for the Fund. Equity Risk. The prices of common stocks change in response to many factors, including the historical and prospective earnings of the issuer, the value of its assets, general market and economic conditions, interest rates, investor perceptions and market liquidity. "Fundamentally Large" Company Risk. Returns on investments in common stocks of "fundamentally large" U.S. companies could trail the returns on investments in common stocks of smaller companies. Growth Investing Style Risk. The Fund emphasizes a "growth" style of investing. The market values of such securities may be more volatile than other types of investments. The returns on "growth" securities may or may not move in tandem with the returns on other styles of investing or the overall stock markets. Concentration Risk. A significant percentage of the Underlying Index may be comprised of issuers in a single industry or group of industries. If the Fund is focused in an industry or group of industries, it may present more risks than if it were broadly invested over numerous industries and groups of industries. At times, such industry or group of industries may be out of favor and underperform other industries or the market as a whole. Technology Sector Risk. The market value of securities of issuers in the technology sector can be significantly affected by factors such as the failure to obtain, or delays in obtaining, financing or regulatory approval, intense competition, product compatibility, consumer preferences, corporate capital expenditure, rapid obsolescence, competition from alternative technologies, and research and development of new products. Consumer Staples Sector Risk. Companies in the consumer staples sector may be adversely affected by changes in the worldwide economy, consumer spending, competition, demographics and consumer preferences, exploration and production spending. Companies in this sector are also affected by changes in government regulation, world events and economic conditions. REIT Risk. Although the Fund will not invest in real estate directly, the REITs in which the Fund will invest will be subject to risks inherent in the direct ownership of real estate. These risks include, but are not limited to, the risk of a possible lack of mortgage funds and associated interest rate risks, overbuilding, property vacancies, increases in property taxes and operating expenses, changes in zoning laws, losses due to environmental damages and changes in neighborhood values and appeal to purchasers. Replication Management Risk. Unlike many investment companies, the Fund does not utilize an investing strategy that seeks returns in excess of the Underlying Index. Therefore, it would not necessarily buy or sell a security unless that security is added or removed, respectively, from the Underlying Index. 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. 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. 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. The Fund's Shares will change in value, and you could lose money by investing in the Fund. The Fund may not achieve its investment objective. An investment in the Fund is not a deposit with a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.</pre> Fund Fees and Expenses Principal Investment Strategies www.InvescoPowerShares.com The Fund will invest more than 25% of the value of its net assets in securities of issuers in an industry or group of industries to the extent that the Underlying Index concentrates in an industry or group of industries. <pre>The Fund has not yet 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.</pre> <pre>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.</pre> <div style="display:none">~ http://www.InvescoPowerShares.com/role/OperatingExpensesData_S000032768Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) <pre>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 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. The Fund is newly established. Accordingly, information on the Fund's portfolio turnover rate is not available at the date of this Prospectus.</pre> <div style="display:none">~ http://www.InvescoPowerShares.com/role/ExpenseExample_S000032768Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <pre>The Fund seeks investment results that correspond (before fees and expenses) generally to the price and yield of the RAFI® Fundamental Large Growth Index (the "Underlying Index").</pre> <pre>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.</pre> PXLG 2012-08-31 -0.0006 0.0016 0.0029 40 138 0.0039 0.0045 0001209466 ck0001209466:S000032768Memberck0001209466:C000101127Member 2011-05-25 2011-05-25 0001209466 ck0001209466:SummaryS000032768Memberck0001209466:S000032768Memberck0001209466:C000101127Member 2011-05-25 2011-05-25 0001209466 ck0001209466:SummaryS000032768Memberck0001209466:S000032768Member 2011-05-25 2011-05-25 0001209466 ck0001209466:S000032769Memberck0001209466:C000101128Member 2011-05-25 2011-05-25 0001209466 ck0001209466:SummaryS000032769Memberck0001209466:S000032769Memberck0001209466:C000101128Member 2011-05-25 2011-05-25 0001209466 ck0001209466:SummaryS000032769Memberck0001209466:S000032769Member 2011-05-25 2011-05-25 0001209466 2011-05-25 2011-05-25 pure iso4217:USD "Other Expenses" are based on estimated amounts for the current fiscal year. Invesco PowerShares Capital Management LLC (the "Adviser") has agreed to waive fees and/or pay Fund expenses to the extent necessary to prevent the operating expenses of the Fund (excluding interest expenses, offering costs, brokerage commissions and other trading expenses, taxes and extraordinary expenses) from exceeding 0.39% of the Fund's average daily net assets per year (the "Expense Cap") until at least August 31, 2012, and prior to such date the Adviser may not terminate the arrangement. The expenses borne by the Adviser are subject to recapture by the Adviser for up to three years from the date the fee or expense was borne by the Adviser, but no recapture payment will be made by the Fund if it would result in the Fund exceeding its Expense Cap. Invesco PowerShares Capital Management LLC (the "Adviser") has agreed to waive fees and/or pay Fund expenses to the extent necessary to prevent the operating expenses of the Fund (excluding interest expenses, offering costs, brokerage commissions and other trading expenses, taxes and extraordinary expenses) from exceeding 0.39% of the Fund's average daily net assets per year (the "Expense Cap") until at least August 31, 2012, and prior to such date the Adviser may not terminate the arrangement. The expenses borne by the Adviser are subject to recapture by the Adviser for up to three years from the date the fee or expense was borne by the Adviser, but no recapture payment will be made by the Fund if it would result in the Fund exceeding its Expense Cap. 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Label	Element	Value
Risk/Return:	rr_RiskReturnAbstract
Document Type	dei_DocumentType	485BPOS
Document Period End Date	dei_DocumentPeriodEndDate	May 25, 2011
Registrant Name	dei_EntityRegistrantName	POWERSHARES EXCHANGE TRADED FUND TRUST
Central Index Key	dei_EntityCentralIndexKey	0001209466
Amendment Flag	dei_AmendmentFlag	false
Document Creation Date	dei_DocumentCreationDate	May 25, 2011
Document Effective Date	dei_DocumentEffectiveDate	May 25, 2011
PowerShares Fundamental Pure Large Growth Portfolio (Prospectus Summary) \| PowerShares Fundamental Pure Large Growth Portfolio \| PowerShares Fundamental Pure Large Growth Portfolio
Risk/Return:	rr_RiskReturnAbstract
Trading Symbol	dei_TradingSymbol	PXLG
PowerShares Fundamental Pure Large Value Portfolio (Prospectus Summary) \| PowerShares Fundamental Pure Large Value Portfolio \| PowerShares Fundamental Pure Large Value Portfolio
Risk/Return:	rr_RiskReturnAbstract
Trading Symbol	dei_TradingSymbol	PXLV

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PowerShares Fundamental Pure Large Value Portfolio (Prospectus Summary) | PowerShares Fundamental Pure Large Value Portfolio

PowerShares Fundamental Pure Large Value Portfolio

Investment Objective

The Fund seeks investment results that correspond (before fees and expenses)
generally to the price and yield of the RAFI® Fundamental Large Value Index (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 Pure Large Value Portfolio
Management Fees		0.29%
Other Expenses	^[1]	0.16%
Total Annual Fund Operating Expenses		0.45%
Fee Waivers and Expense Assumption	^[2]	0.06%
Total Annual Fund Operating Expenses After Fee Waivers and Expense Assumption	^[2]	0.39%

[1]

"Other Expenses" are based on estimated amounts for the current fiscal year.

[2]

Invesco PowerShares Capital Management LLC (the "Adviser") has agreed to waive fees and/or pay Fund expenses to the extent necessary to prevent the operating expenses of the Fund (excluding interest expenses, offering costs, brokerage commissions and other trading expenses, taxes and extraordinary expenses) from exceeding 0.39% of the Fund's average daily net assets per year (the "Expense Cap") until at least August 31, 2012, and prior to such date the Adviser may not terminate the arrangement. The expenses borne by the Adviser are subject to recapture by the Adviser for up to three years from the date the fee or expense was borne by the Adviser, but no recapture payment will be made by the Fund if it would result in the Fund exceeding its Expense Cap.

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.

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 Pure Large Value Portfolio	40	138

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 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. The Fund is newly established. Accordingly,
information on the Fund's portfolio turnover rate is not available at the date
of this Prospectus.

Principal Investment Strategies

The Fund will normally invest at least 80% of its total assets in common stocks
of fundamentally large companies. The Fund considers "fundamentally large"
companies to be those companies that comprise the Underlying Index. The Fund
will invest at least 90% of its total assets in the component securities that
comprise the Underlying Index. The Underlying Index is comprised of common
stocks of "large value" U.S. companies (including real estate investment trusts
("REITs")), as classified by Research Affiliates, LLC ("Research Affiliates®" or
the "Index Provider"), based on the Index Provider's Fundamental Index®
methodology. The Index Provider selects the common stocks to be included in the
Underlying Index from a universe comprised of the 2,500 largest U.S. companies.
In the selection of the common stocks, the Index Provider uses fundamental
measures of company size, rather than market capitalization (company share price
multiplied by number of shares outstanding). The Index Provider uses the
following fundamental measures to select common stocks for inclusion in the
Underlying Index: book value, income, sales and dividends. A composite
fundamental weight is calculated for each common stock by equally weighting the
four fundamental measures. The Index Provider then ranks each common stock by
its fundamental weight and, based on this ranking, the common stocks are divided
into three size groups: "large," "mid" and "small." The common stocks ranked in
the top 70% of the eligible universe by fundamental weight comprise the "large"
size group, the next 20% comprise the "mid" size group, and the final 10%
comprise the "small" size group. The "large" size group is then further divided
by the Index Provider into "growth," "core" or "value" subsets based on the
Fundamental Index® methodology style score, which uses a combination of
fundamental growth rates and fundamental valuation ratios. The Underlying Index
is comprised only of those common stocks classified by the Index Provider as
both "large" and "value."

The use of the word "Pure" in the Fund's name signifies a particular type of
style (i.e., "growth" or "value") investing, where a particular stock is
classified as either "growth" or "value," but not both. Whereas traditionally
"value" funds in the marketplace have in practice also included some stocks that
would be considered "growth" stocks in their portfolios, the Fund, in tracking
the Underlying Index, intends to principally invest exclusively in "value"
stocks. Accordingly, the Fund's "pure value" portfolio will differ from a
traditional "value" portfolio because the Fund's portfolio will not include
"growth" stocks.

The Fund will generally invest in all of the securities comprising its
Underlying Index in proportion to their weightings in the Underlying Index.

As of the date of this Prospectus, a significant percentage (i.e., greater than
15%) of the Underlying Index was comprised of companies in the financial
services and energy sectors. The financial services sector includes companies that
are principally engaged in the business of providing services and products,
including banking, investment services, insurance and real estate finance
services. The energy sector includes companies that are principally engaged in
the business of producing, distributing or servicing energy-related products,
including oil and gas exploration and production, refining, oil services,
pipeline, and solar, wind and other non-oil based energy. Sector allocation is
not a factor in the construction of the Underlying Index and, accordingly, the
Underlying Index's allocations to any particular sector may increase or decrease
over time.

Concentration Policy. The Fund will invest more than 25% of the value of its net
assets in securities of issuers in an industry or group of industries to the
extent that the Underlying Index concentrates in an industry or group of
industries.

Principal Risks of Investing in the Fund

The following summarizes the principal risks that have been identified for the
Fund.

Equity Risk. The prices of common stocks change in response to many factors,
including the historical and prospective earnings of the issuer, the value of
its assets, general market and economic conditions, interest rates, investor
perceptions and market liquidity.

"Fundamentally Large" Company Risk. Returns on investments in common stocks of
"fundamentally large" U.S. companies could trail the returns on investments in
common stocks of smaller companies.

Value Investing Style Risk. A "value" style of investing emphasizes undervalued
companies with characteristics for improved valuations. This style of investing
is subject to the risk that the valuations never improve or that the returns on
"value" equity securities are less than returns on other styles of investing or
the overall stock market. Different types of stocks tend to shift in and out of
favor depending on market and economic conditions. Thus, the value of the Fund's
investments will vary and at times may be lower or higher than that of other
types of investments.

Concentration Risk. A significant percentage of the Underlying Index may be
comprised of issuers in a single industry or group of industries. If the Fund is
focused in an industry or group of industries, it may present more risks than if
it were broadly invested over numerous industries and groups of industries. At
times, such industry or group of industries may be out of favor and underperform
other industries or the market as a whole.

Financial Services Sector Risk. The Fund may be susceptible to adverse economic
or regulatory occurrences affecting the financial services sector. Investing in
the financial services sector involves risks, including the following: financial
services companies are subject to extensive government regulation and, as a
result, their profitability may be affected by new regulations or regulatory
interpretations; unstable interest rates can have a disproportionate effect on
the financial services sector; financial services companies whose securities the
Fund may purchase may themselves have concentrated portfolios which makes them
vulnerable to economic conditions that affect that sector; and financial
services companies have been affected by increased competition, which could
adversely affect the profitability or viability of such companies.

Energy Sector Risk. Companies in the energy sector may be adversely affected by
changes in worldwide energy prices, exploration and production spending. These
companies are also affected by changes in government regulation, world events
and economic conditions. In addition, these companies are at risk of civil
liability from accidents resulting in injury, loss of life or property, pollution
or other environmental damage claims and risk of loss from terrorism and natural
disasters. Companies in this sector could be adversely affected by commodity
price volatility, changes in exchange rates, imposition of import controls,
increased competition, depletion of resources, development of alternative energy
sources, technological developments and labor relations.

REIT Risk. Although the Fund will not invest in real estate directly, the REITs
in which the Fund will invest will be subject to risks inherent in the direct
ownership of real estate. These risks include, but are not limited to, the risk
of a possible lack of mortgage funds and associated interest rate risks,
overbuilding, property vacancies, increases in property taxes and operating
expenses, changes in zoning laws, losses due to environmental damages and
changes in neighborhood values and appeal to purchasers.

Replication Management Risk. Unlike many investment companies, the Fund does not
utilize an investing strategy that seeks returns in excess of the Underlying
Index. Therefore, it would not necessarily buy or sell a security unless that
security is added or removed, respectively, from the Underlying Index.

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. 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.

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.

The Fund's Shares will change in value, and you could lose money by investing in
the Fund. The Fund may not achieve its investment objective. An investment in
the Fund is not a deposit with a bank and is not insured or guaranteed by the
Federal Deposit Insurance Corporation or any other government agency.

Performance

The Fund has not yet 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.

XML 11 R9.htm IDEA: XBRL DOCUMENT

Label

Element

Value

Risk/Return:

rr_RiskReturnAbstract

ProspectusDate

rr_ProspectusDate

May 25, 2011

PowerShares Fundamental Pure Large Value Portfolio (Prospectus Summary) | PowerShares Fundamental Pure Large Value Portfolio

Risk/Return:

rr_RiskReturnAbstract

Risk/Return, Heading

rr_RiskReturnHeading

PowerShares Fundamental Pure Large Value Portfolio

Investment Objective, Heading

rr_ObjectiveHeading

Investment Objective

investment Objective, Primary

rr_ObjectivePrimaryTextBlock

The Fund seeks investment results that correspond (before fees and expenses)
generally to the price and yield of the RAFI® Fundamental Large Value Index (the
"Underlying Index").

Expense, Heading

rr_ExpenseHeading

Fund Fees and Expenses

Expense, Narrative

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

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

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 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. The Fund is newly established. Accordingly,
information on the Fund's portfolio turnover rate is not available at the date
of this Prospectus.

Expense, Exchange Traded Fund, Commissions

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

rr_OtherExpensesNewFundBasedOnEstimates

"Other Expenses" are based on estimated amounts for the current fiscal year.

Expense Example, Heading

rr_ExpenseExampleHeading

Example

Expense Example, Narrative

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.

Expense Example, By Year, Caption

rr_ExpenseExampleByYearCaption

Although your actual costs may be higher or lower, your costs, based on these assumptions, would be:

Investment Strategy, Heading

rr_StrategyHeading

Principal Investment Strategies

Investment Strategy, Narrative

rr_StrategyNarrativeTextBlock

The Fund will normally invest at least 80% of its total assets in common stocks
of fundamentally large companies. The Fund considers "fundamentally large"
companies to be those companies that comprise the Underlying Index. The Fund
will invest at least 90% of its total assets in the component securities that
comprise the Underlying Index. The Underlying Index is comprised of common
stocks of "large value" U.S. companies (including real estate investment trusts
("REITs")), as classified by Research Affiliates, LLC ("Research Affiliates®" or
the "Index Provider"), based on the Index Provider's Fundamental Index®
methodology. The Index Provider selects the common stocks to be included in the
Underlying Index from a universe comprised of the 2,500 largest U.S. companies.
In the selection of the common stocks, the Index Provider uses fundamental
measures of company size, rather than market capitalization (company share price
multiplied by number of shares outstanding). The Index Provider uses the
following fundamental measures to select common stocks for inclusion in the
Underlying Index: book value, income, sales and dividends. A composite
fundamental weight is calculated for each common stock by equally weighting the
four fundamental measures. The Index Provider then ranks each common stock by
its fundamental weight and, based on this ranking, the common stocks are divided
into three size groups: "large," "mid" and "small." The common stocks ranked in
the top 70% of the eligible universe by fundamental weight comprise the "large"
size group, the next 20% comprise the "mid" size group, and the final 10%
comprise the "small" size group. The "large" size group is then further divided
by the Index Provider into "growth," "core" or "value" subsets based on the
Fundamental Index® methodology style score, which uses a combination of
fundamental growth rates and fundamental valuation ratios. The Underlying Index
is comprised only of those common stocks classified by the Index Provider as
both "large" and "value."

The use of the word "Pure" in the Fund's name signifies a particular type of
style (i.e., "growth" or "value") investing, where a particular stock is
classified as either "growth" or "value," but not both. Whereas traditionally
"value" funds in the marketplace have in practice also included some stocks that
would be considered "growth" stocks in their portfolios, the Fund, in tracking
the Underlying Index, intends to principally invest exclusively in "value"
stocks. Accordingly, the Fund's "pure value" portfolio will differ from a
traditional "value" portfolio because the Fund's portfolio will not include
"growth" stocks.

The Fund will generally invest in all of the securities comprising its
Underlying Index in proportion to their weightings in the Underlying Index.

As of the date of this Prospectus, a significant percentage (i.e., greater than
15%) of the Underlying Index was comprised of companies in the financial
services and energy sectors. The financial services sector includes companies that
are principally engaged in the business of providing services and products,
including banking, investment services, insurance and real estate finance
services. The energy sector includes companies that are principally engaged in
the business of producing, distributing or servicing energy-related products,
including oil and gas exploration and production, refining, oil services,
pipeline, and solar, wind and other non-oil based energy. Sector allocation is
not a factor in the construction of the Underlying Index and, accordingly, the
Underlying Index's allocations to any particular sector may increase or decrease
over time.

Concentration Policy. The Fund will invest more than 25% of the value of its net
assets in securities of issuers in an industry or group of industries to the
extent that the Underlying Index concentrates in an industry or group of
industries.

Investment Strategy, Portfolio Concentration

rr_StrategyPortfolioConcentration

The Fund will invest more than 25% of the value of its net assets in securities of issuers in an industry or group of industries to the extent that the Underlying Index concentrates in an industry or group of industries.

Risk, Heading

rr_RiskHeading

Principal Risks of Investing in the Fund

Risk, Narrative

rr_RiskNarrativeTextBlock

The following summarizes the principal risks that have been identified for the
Fund.

Equity Risk. The prices of common stocks change in response to many factors,
including the historical and prospective earnings of the issuer, the value of
its assets, general market and economic conditions, interest rates, investor
perceptions and market liquidity.

"Fundamentally Large" Company Risk. Returns on investments in common stocks of
"fundamentally large" U.S. companies could trail the returns on investments in
common stocks of smaller companies.

Value Investing Style Risk. A "value" style of investing emphasizes undervalued
companies with characteristics for improved valuations. This style of investing
is subject to the risk that the valuations never improve or that the returns on
"value" equity securities are less than returns on other styles of investing or
the overall stock market. Different types of stocks tend to shift in and out of
favor depending on market and economic conditions. Thus, the value of the Fund's
investments will vary and at times may be lower or higher than that of other
types of investments.

Concentration Risk. A significant percentage of the Underlying Index may be
comprised of issuers in a single industry or group of industries. If the Fund is
focused in an industry or group of industries, it may present more risks than if
it were broadly invested over numerous industries and groups of industries. At
times, such industry or group of industries may be out of favor and underperform
other industries or the market as a whole.

Financial Services Sector Risk. The Fund may be susceptible to adverse economic
or regulatory occurrences affecting the financial services sector. Investing in
the financial services sector involves risks, including the following: financial
services companies are subject to extensive government regulation and, as a
result, their profitability may be affected by new regulations or regulatory
interpretations; unstable interest rates can have a disproportionate effect on
the financial services sector; financial services companies whose securities the
Fund may purchase may themselves have concentrated portfolios which makes them
vulnerable to economic conditions that affect that sector; and financial
services companies have been affected by increased competition, which could
adversely affect the profitability or viability of such companies.

Energy Sector Risk. Companies in the energy sector may be adversely affected by
changes in worldwide energy prices, exploration and production spending. These
companies are also affected by changes in government regulation, world events
and economic conditions. In addition, these companies are at risk of civil
liability from accidents resulting in injury, loss of life or property, pollution
or other environmental damage claims and risk of loss from terrorism and natural
disasters. Companies in this sector could be adversely affected by commodity
price volatility, changes in exchange rates, imposition of import controls,
increased competition, depletion of resources, development of alternative energy
sources, technological developments and labor relations.

REIT Risk. Although the Fund will not invest in real estate directly, the REITs
in which the Fund will invest will be subject to risks inherent in the direct
ownership of real estate. These risks include, but are not limited to, the risk
of a possible lack of mortgage funds and associated interest rate risks,
overbuilding, property vacancies, increases in property taxes and operating
expenses, changes in zoning laws, losses due to environmental damages and
changes in neighborhood values and appeal to purchasers.

Replication Management Risk. Unlike many investment companies, the Fund does not
utilize an investing strategy that seeks returns in excess of the Underlying
Index. Therefore, it would not necessarily buy or sell a security unless that
security is added or removed, respectively, from the Underlying Index.

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. 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.

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.

The Fund's Shares will change in value, and you could lose money by investing in
the Fund. The Fund may not achieve its investment objective. An investment in
the Fund is not a deposit with a bank and is not insured or guaranteed by the
Federal Deposit Insurance Corporation or any other government agency.

Risk, Lose Money

rr_RiskLoseMoney

The Fund's Shares will change in value, and you could lose money by investing in the Fund. The Fund may not achieve its investment objective.

Risk, Nondiversified Status

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.

Risk, Not Insured Depository Institution

rr_RiskNotInsuredDepositoryInstitution

An investment in the Fund is not a deposit with a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.

Bar Chart and Performance Table, Heading

rr_BarChartAndPerformanceTableHeading

Performance

Performance, Narrative

rr_PerformanceNarrativeTextBlock

The Fund has not yet 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

rr_PerformanceOneYearOrLess

The Fund has not yet commenced operations and therefore does not have a performance history.

Performance, Availability Website Address

rr_PerformanceAvailabilityWebSiteAddress

www.InvescoPowerShares.com

PowerShares Fundamental Pure Large Value Portfolio (Prospectus Summary) | PowerShares Fundamental Pure Large Value Portfolio | PowerShares Fundamental Pure Large Value Portfolio

Risk/Return:

rr_RiskReturnAbstract

Fee Waiver or Reimbursement over Assets, Date of Termination

rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination

2012-08-31

PowerShares Fundamental Pure Large Value Portfolio | PowerShares Fundamental Pure Large Value Portfolio

Risk/Return:

rr_RiskReturnAbstract

Management Fees

rr_ManagementFeesOverAssets

0.29%

Other Expenses

rr_OtherExpensesOverAssets

0.16%

^[1]

Total Annual Fund Operating Expenses

rr_ExpensesOverAssets

0.45%

Fee Waivers and Expense Assumption

rr_FeeWaiverOrReimbursementOverAssets

(0.06%)

^[2]

Total Annual Fund Operating Expenses After Fee Waivers and Expense Assumption

rr_NetExpensesOverAssets

0.39%

^[2]

Expense Example, With Redemption, 1 Year

rr_ExpenseExampleYear01

Expense Example, With Redemption, 3 Years

rr_ExpenseExampleYear03

138

[1]

"Other Expenses" are based on estimated amounts for the current fiscal year.

[2]

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Label

Element

Value

Risk/Return:

rr_RiskReturnAbstract

ProspectusDate

rr_ProspectusDate

May 25, 2011

PowerShares Fundamental Pure Large Growth Portfolio (Prospectus Summary) | PowerShares Fundamental Pure Large Growth Portfolio

Risk/Return:

rr_RiskReturnAbstract

Risk/Return, Heading

rr_RiskReturnHeading

PowerShares Fundamental Pure Large Growth Portfolio

Investment Objective, Heading

rr_ObjectiveHeading

Investment Objective

investment Objective, Primary

rr_ObjectivePrimaryTextBlock

The Fund seeks investment results that correspond (before fees and expenses)
generally to the price and yield of the RAFI® Fundamental Large Growth Index
(the "Underlying Index").

Expense, Heading

rr_ExpenseHeading

Fund Fees and Expenses

Expense, Narrative

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

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

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 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. The Fund is newly established. Accordingly,
information on the Fund's portfolio turnover rate is not available at the date
of this Prospectus.

Expense, Exchange Traded Fund, Commissions

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

rr_OtherExpensesNewFundBasedOnEstimates

"Other Expenses" are based on estimated amounts for the current fiscal year.

Expense Example, Heading

rr_ExpenseExampleHeading

Example

Expense Example, Narrative

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.

Expense Example, By Year, Caption

rr_ExpenseExampleByYearCaption

Although your actual costs may be higher or lower, your costs, based on these assumptions, would be:

Investment Strategy, Heading

rr_StrategyHeading

Principal Investment Strategies

Investment Strategy, Narrative

rr_StrategyNarrativeTextBlock

The Fund will normally invest at least 80% of its total assets in common stocks
of fundamentally large companies. The Fund considers "fundamentally large"
companies to be those companies that comprise the Underlying Index. The Fund
will invest at least 90% of its total assets in the component securities that
comprise the Underlying Index. The Underlying Index is comprised of common
stocks of "large growth" U.S. companies (including real estate investment trusts
("REITs")), as classified by Research Affiliates, LLC ("Research Affiliates®" or
the "Index Provider"), based on the Index Provider's Fundamental Index®
methodology. The Index Provider selects the common stocks to be included in the
Underlying Index from a universe comprised of the 2,500 largest U.S. companies.
In the selection of the common stocks, the Index Provider uses fundamental
measures of company size, rather than market capitalization (company share price
multiplied by number of shares outstanding). The Index Provider uses the
following fundamental measures to select common stocks for inclusion in the
Underlying Index: book value, income, sales and dividends. A composite
fundamental weight is calculated for each common stock by equally weighting the
four fundamental measures. The Index Provider then ranks each common stock by
its fundamental weight and, based on this ranking, the common stocks are divided
into three size groups: "large," "mid" and "small." The common stocks ranked in
the top 70% of the eligible universe by fundamental weight comprise the "large"
size group, the next 20% comprise the "mid" size group, and the final 10%
comprise the "small" size group. The "large" size group is then further divided
by the Index Provider into "growth," "core" or "value" subsets based on the
Fundamental Index® methodology style score, which uses a combination of
fundamental growth rates and fundamental valuation ratios. The Underlying Index
is comprised only of those common stocks classified by the Index Provider as
both "large" and "growth."

The use of the word "Pure" in the Fund's name signifies a particular type of
style (i.e., "growth" or "value") investing, where a particular stock is
classified as either "growth" or "value," but not both. Whereas traditionally
"growth" funds in the marketplace have in practice also included some stocks
that would be considered "value" stocks in their portfolios, the Fund, in
tracking the Underlying Index, intends to principally invest exclusively in
"growth" stocks. Accordingly, the Fund's "pure growth" portfolio will differ
from a traditional "growth" portfolio because the Fund's portfolio will not
include "value" stocks.

The Fund will generally invest in all of the securities comprising its
Underlying Index in proportion to their weightings in the Underlying Index.

As of the date of this Prospectus, a significant percentage (i.e., greater than
15%) of the Underlying Index was comprised of companies in the technology and
consumer staples sectors. The technology sector includes companies that are
principally engaged in the business of providing technology-related products and
services,including computer hardware and software, Internet, electronics and
semiconductors and communication technologies. The consumer staples sector
includes companies that are principally engaged in the business of providing
consumer goods and services that have non-cyclical characteristics, including
tobacco, textiles, food and beverage, and non-discretionary retail. Sector
allocation is not a factor in the construction of the Underlying Index and,
accordingly, the Underlying Index's allocations to any particular sector may
increase or decrease over time.

Concentration Policy. The Fund will invest more than 25% of the value of its net
assets in securities of issuers in an industry or group of industries to the
extent that the Underlying Index concentrates in an industry or group of
industries.

Investment Strategy, Portfolio Concentration

rr_StrategyPortfolioConcentration

Risk, Heading

rr_RiskHeading

Principal Risks of Investing in the Fund

Risk, Narrative

rr_RiskNarrativeTextBlock

The following summarizes the principal risks that have been identified for the
Fund.

Equity Risk. The prices of common stocks change in response to many factors,
including the historical and prospective earnings of the issuer, the value of
its assets, general market and economic conditions, interest rates, investor
perceptions and market liquidity.

"Fundamentally Large" Company Risk. Returns on investments in common stocks of
"fundamentally large" U.S. companies could trail the returns on investments in
common stocks of smaller companies.

Growth Investing Style Risk. The Fund emphasizes a "growth" style of investing.
The market values of such securities may be more volatile than other types of
investments. The returns on "growth" securities may or may not move in tandem
with the returns on other styles of investing or the overall stock markets.

Concentration Risk. A significant percentage of the Underlying Index may be
comprised of issuers in a single industry or group of industries. If the Fund is
focused in an industry or group of industries, it may present more risks than if
it were broadly invested over numerous industries and groups of industries.  At
times, such industry or group of industries may be out of favor and underperform
other industries or the market as a whole.

Technology Sector Risk. The market value of securities of issuers in the
technology sector can be significantly affected by factors such as the failure
to obtain, or delays in obtaining, financing or regulatory approval, intense
competition, product compatibility, consumer preferences, corporate capital
expenditure, rapid obsolescence, competition from alternative technologies, and
research and development of new products.

Consumer Staples Sector Risk. Companies in the consumer staples sector may be
adversely affected by changes in the worldwide economy, consumer spending,
competition, demographics and consumer preferences, exploration and production
spending. Companies in this sector are also affected by changes in government
regulation, world events and economic conditions.

REIT Risk. Although the Fund will not invest in real estate directly, the REITs
in which the Fund will invest will be subject to risks inherent in the direct
ownership of real estate. These risks include, but are not limited to, the risk
of a possible lack of mortgage funds and associated interest rate risks,
overbuilding, property vacancies, increases in property taxes and operating
expenses, changes in zoning laws, losses due to environmental damages and
changes in neighborhood values and appeal to purchasers.

Replication Management Risk. Unlike many investment companies, the Fund does not
utilize an investing strategy that seeks returns in excess of the Underlying
Index. Therefore, it would not necessarily buy or sell a security unless that
security is added or removed, respectively, from the Underlying Index.

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. 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.

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.

The Fund's Shares will change in value, and you could lose money by investing in
the Fund. The Fund may not achieve its investment objective. An investment in
the Fund is not a deposit with a bank and is not insured or guaranteed by the
Federal Deposit Insurance Corporation or any other government agency.

Risk, Lose Money

rr_RiskLoseMoney

The Fund's Shares will change in value, and you could lose money by investing in the Fund.

Risk, Nondiversified Status

rr_RiskNondiversifiedStatus

Risk, Not Insured Depository Institution

rr_RiskNotInsuredDepositoryInstitution

An investment in the Fund is not a deposit with a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.

Bar Chart and Performance Table, Heading

rr_BarChartAndPerformanceTableHeading

Performance

Performance, Narrative

rr_PerformanceNarrativeTextBlock

The Fund has not yet 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

rr_PerformanceOneYearOrLess

The Fund has not yet commenced operations and therefore does not have a performance history.

Performance, Availability Website Address

rr_PerformanceAvailabilityWebSiteAddress

www.InvescoPowerShares.com

PowerShares Fundamental Pure Large Growth Portfolio (Prospectus Summary) | PowerShares Fundamental Pure Large Growth Portfolio | PowerShares Fundamental Pure Large Growth Portfolio

Risk/Return:

rr_RiskReturnAbstract

Fee Waiver or Reimbursement over Assets, Date of Termination

rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination

2012-08-31

PowerShares Fundamental Pure Large Growth Portfolio | PowerShares Fundamental Pure Large Growth Portfolio

Risk/Return:

rr_RiskReturnAbstract

Management Fees

rr_ManagementFeesOverAssets

0.29%

Other Expenses

rr_OtherExpensesOverAssets

0.16%

^[1]

Total Annual Fund Operating Expenses

rr_ExpensesOverAssets

0.45%

Fee Waivers and Expense Assumption

rr_FeeWaiverOrReimbursementOverAssets

(0.06%)

^[2]

Total Annual Fund Operating Expenses After Fee Waivers and Expense Assumption

rr_NetExpensesOverAssets

0.39%

^[2]

Expense Example, With Redemption, 1 Year

rr_ExpenseExampleYear01

Expense Example, With Redemption, 3 Years

rr_ExpenseExampleYear03

138

[1]

"Other Expenses" are based on estimated amounts for the current fiscal year.

[2]

XML 15 R2.htm IDEA: XBRL DOCUMENT

PowerShares Fundamental Pure Large Growth Portfolio (Prospectus Summary) | PowerShares Fundamental Pure Large Growth Portfolio

PowerShares Fundamental Pure Large Growth Portfolio

Investment Objective

The Fund seeks investment results that correspond (before fees and expenses)
generally to the price and yield of the RAFI® Fundamental Large Growth Index
(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 Pure Large Growth Portfolio
Management Fees		0.29%
Other Expenses	^[1]	0.16%
Total Annual Fund Operating Expenses		0.45%
Fee Waivers and Expense Assumption	^[2]	0.06%
Total Annual Fund Operating Expenses After Fee Waivers and Expense Assumption	^[2]	0.39%

[1]

"Other Expenses" are based on estimated amounts for the current fiscal year.

[2]

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.

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 Pure Large Growth Portfolio	40	138

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 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. The Fund is newly established. Accordingly,
information on the Fund's portfolio turnover rate is not available at the date
of this Prospectus.

Principal Investment Strategies

The Fund will normally invest at least 80% of its total assets in common stocks
of fundamentally large companies. The Fund considers "fundamentally large"
companies to be those companies that comprise the Underlying Index. The Fund
will invest at least 90% of its total assets in the component securities that
comprise the Underlying Index. The Underlying Index is comprised of common
stocks of "large growth" U.S. companies (including real estate investment trusts
("REITs")), as classified by Research Affiliates, LLC ("Research Affiliates®" or
the "Index Provider"), based on the Index Provider's Fundamental Index®
methodology. The Index Provider selects the common stocks to be included in the
Underlying Index from a universe comprised of the 2,500 largest U.S. companies.
In the selection of the common stocks, the Index Provider uses fundamental
measures of company size, rather than market capitalization (company share price
multiplied by number of shares outstanding). The Index Provider uses the
following fundamental measures to select common stocks for inclusion in the
Underlying Index: book value, income, sales and dividends. A composite
fundamental weight is calculated for each common stock by equally weighting the
four fundamental measures. The Index Provider then ranks each common stock by
its fundamental weight and, based on this ranking, the common stocks are divided
into three size groups: "large," "mid" and "small." The common stocks ranked in
the top 70% of the eligible universe by fundamental weight comprise the "large"
size group, the next 20% comprise the "mid" size group, and the final 10%
comprise the "small" size group. The "large" size group is then further divided
by the Index Provider into "growth," "core" or "value" subsets based on the
Fundamental Index® methodology style score, which uses a combination of
fundamental growth rates and fundamental valuation ratios. The Underlying Index
is comprised only of those common stocks classified by the Index Provider as
both "large" and "growth."

The use of the word "Pure" in the Fund's name signifies a particular type of
style (i.e., "growth" or "value") investing, where a particular stock is
classified as either "growth" or "value," but not both. Whereas traditionally
"growth" funds in the marketplace have in practice also included some stocks
that would be considered "value" stocks in their portfolios, the Fund, in
tracking the Underlying Index, intends to principally invest exclusively in
"growth" stocks. Accordingly, the Fund's "pure growth" portfolio will differ
from a traditional "growth" portfolio because the Fund's portfolio will not
include "value" stocks.

The Fund will generally invest in all of the securities comprising its
Underlying Index in proportion to their weightings in the Underlying Index.

As of the date of this Prospectus, a significant percentage (i.e., greater than
15%) of the Underlying Index was comprised of companies in the technology and
consumer staples sectors. The technology sector includes companies that are
principally engaged in the business of providing technology-related products and
services,including computer hardware and software, Internet, electronics and
semiconductors and communication technologies. The consumer staples sector
includes companies that are principally engaged in the business of providing
consumer goods and services that have non-cyclical characteristics, including
tobacco, textiles, food and beverage, and non-discretionary retail. Sector
allocation is not a factor in the construction of the Underlying Index and,
accordingly, the Underlying Index's allocations to any particular sector may
increase or decrease over time.

Concentration Policy. The Fund will invest more than 25% of the value of its net
assets in securities of issuers in an industry or group of industries to the
extent that the Underlying Index concentrates in an industry or group of
industries.

Principal Risks of Investing in the Fund

The following summarizes the principal risks that have been identified for the
Fund.

Equity Risk. The prices of common stocks change in response to many factors,
including the historical and prospective earnings of the issuer, the value of
its assets, general market and economic conditions, interest rates, investor
perceptions and market liquidity.

"Fundamentally Large" Company Risk. Returns on investments in common stocks of
"fundamentally large" U.S. companies could trail the returns on investments in
common stocks of smaller companies.

Growth Investing Style Risk. The Fund emphasizes a "growth" style of investing.
The market values of such securities may be more volatile than other types of
investments. The returns on "growth" securities may or may not move in tandem
with the returns on other styles of investing or the overall stock markets.

Concentration Risk. A significant percentage of the Underlying Index may be
comprised of issuers in a single industry or group of industries. If the Fund is
focused in an industry or group of industries, it may present more risks than if
it were broadly invested over numerous industries and groups of industries.  At
times, such industry or group of industries may be out of favor and underperform
other industries or the market as a whole.

Technology Sector Risk. The market value of securities of issuers in the
technology sector can be significantly affected by factors such as the failure
to obtain, or delays in obtaining, financing or regulatory approval, intense
competition, product compatibility, consumer preferences, corporate capital
expenditure, rapid obsolescence, competition from alternative technologies, and
research and development of new products.

Consumer Staples Sector Risk. Companies in the consumer staples sector may be
adversely affected by changes in the worldwide economy, consumer spending,
competition, demographics and consumer preferences, exploration and production
spending. Companies in this sector are also affected by changes in government
regulation, world events and economic conditions.

REIT Risk. Although the Fund will not invest in real estate directly, the REITs
in which the Fund will invest will be subject to risks inherent in the direct
ownership of real estate. These risks include, but are not limited to, the risk
of a possible lack of mortgage funds and associated interest rate risks,
overbuilding, property vacancies, increases in property taxes and operating
expenses, changes in zoning laws, losses due to environmental damages and
changes in neighborhood values and appeal to purchasers.

Replication Management Risk. Unlike many investment companies, the Fund does not
utilize an investing strategy that seeks returns in excess of the Underlying
Index. Therefore, it would not necessarily buy or sell a security unless that
security is added or removed, respectively, from the Underlying Index.

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. 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.

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.

The Fund's Shares will change in value, and you could lose money by investing in
the Fund. The Fund may not achieve its investment objective. An investment in
the Fund is not a deposit with a bank and is not insured or guaranteed by the
Federal Deposit Insurance Corporation or any other government agency.

Performance

The Fund has not yet 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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