POWERSHARES EXCHANGE-TRADED SELF-INDEXED FUND TRUST
SUPPLEMENT DATED APRIL 20, 2018 TO THE
PROSPECTUSES AND STATEMENT OF ADDITIONAL INFORMATION
DATED APRIL 9, 2018 OF:
PowerShares BulletShares 2018 Corporate Bond Portfolio
PowerShares BulletShares 2019 Corporate Bond Portfolio
PowerShares BulletShares 2020 Corporate Bond Portfolio
PowerShares BulletShares 2021 Corporate Bond Portfolio
PowerShares BulletShares 2022 Corporate Bond Portfolio
PowerShares BulletShares 2023 Corporate Bond Portfolio
PowerShares BulletShares 2024 Corporate Bond Portfolio
PowerShares BulletShares 2025 Corporate Bond Portfolio
PowerShares BulletShares 2026 Corporate Bond Portfolio
PowerShares BulletShares 2027 Corporate Bond Portfolio
PowerShares BulletShares 2018 High Yield Corporate Bond Portfolio
PowerShares BulletShares 2019 High Yield Corporate Bond Portfolio
PowerShares BulletShares 2020 High Yield Corporate Bond Portfolio
PowerShares BulletShares 2021 High Yield Corporate Bond Portfolio
PowerShares BulletShares 2022 High Yield Corporate Bond Portfolio
PowerShares BulletShares 2023 High Yield Corporate Bond Portfolio
PowerShares BulletShares 2024 High Yield Corporate Bond Portfolio
(each, a Fund and collectively, the Funds)
Important Notice Regarding a Change to the Unitary Management Fee of
PowerShares BulletShares 2018 Corporate Bond Portfolio, PowerShares BulletShares 2019 Corporate Bond Portfolio, PowerShares BulletShares 2020 Corporate Bond Portfolio, PowerShares BulletShares 2021 Corporate Bond Portfolio, PowerShares BulletShares 2022 Corporate Bond Portfolio, PowerShares BulletShares 2023 Corporate Bond Portfolio, PowerShares BulletShares 2024 Corporate Bond Portfolio, BulletShares 2025 Corporate Bond Portfolio, PowerShares BulletShares 2026 Corporate Bond Portfolio and PowerShares BulletShares 2027 Corporate Bond Portfolio
(each, a Corporate Bond Fund and collectively, the Corporate Bond Funds)
At a meeting held on April 19, 2018, the Board of Trustees of PowerShares Exchange-Traded Self-Indexed Fund Trust (the Trust) approved a reduction in the annual unitary management fee for each Corporate Bond Fund to 0.10% of such Corporate Bond Funds average daily net assets, effective April 20, 2018. Accordingly, the Prospectus and Statement of Additional Information are revised as follows:
| The following replaces the first paragraph and table included under the section titled Fund Fees and Expenses in each Corporate Bond Funds respective Summary Prospectus and Prospectus: |
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) |
||||
Management Fees(1) |
0.10 | % | ||
Other Expenses(2) |
0.00 | % | ||
Total Annual Fund Operating Expenses(1) |
0.10 | % |
(1) | Effective April 20, 2018, Invesco PowerShares Capital Management LLC (the Adviser) has contractually reduced the Funds unitary management fee from 0.24% to 0.10%. Management Fees and Total Annual Fund Operating Expenses in the table above have been restated to reflect current fees. |
(2) | Other Expenses are based on estimated amounts for the current fiscal year. |
| The following replaces the section titled Example in the Summary Prospectus and of the Prospectus for each Corporate Bond Fund: |
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 Funds operating expenses remain the same. This example does not include the brokerage commissions that investors may pay to buy and sell Shares. Although your actual costs may be higher or lower, your costs, based on these assumptions, would be:
1 Year | 3 Years | 5 Years | 10 Years | |||||||||||
$ | 10 | $ | 32 | $ | 57 | $ | 128 |
| On page 119, the information in the table for the Corporate Bond Funds under the section titled Management of the FundsAdvisory Fees in the Prospectus is deleted and replaced with the following: |
Fund |
Management Fee | |||
PowerShares BulletShares 2018 Corporate Bond Portfolio |
0.10 | %* | ||
PowerShares BulletShares 2019 Corporate Bond Portfolio |
0.10 | %* | ||
PowerShares BulletShares 2020 Corporate Bond Portfolio |
0.10 | %* | ||
PowerShares BulletShares 2021 Corporate Bond Portfolio |
0.10 | %* | ||
PowerShares BulletShares 2022 Corporate Bond Portfolio |
0.10 | %* | ||
PowerShares BulletShares 2023 Corporate Bond Portfolio |
0.10 | %* | ||
PowerShares BulletShares 2024 Corporate Bond Portfolio |
0.10 | %* | ||
PowerShares BulletShares 2025 Corporate Bond Portfolio |
0.10 | %* | ||
PowerShares BulletShares 2026 Corporate Bond Portfolio |
0.10 | %* | ||
PowerShares BulletShares 2027 Corporate Bond Portfolio |
0.10 | %* |
* | Effective April 20, 2018, the Adviser has contractually reduced the Funds management fee from 0.24% to 0.10%. |
| On page 30, the information in the table for the Corporate Bond Funds in the section titled ManagementInvestment Advisory Agreement in the Statement of Additional Information is deleted and replaced with the following: |
Fund |
Advisory Fee | |||
PowerShares BulletShares 2018 Corporate Bond Portfolio |
0.10 | %(1) | ||
PowerShares BulletShares 2019 Corporate Bond Portfolio |
0.10 | %(1) | ||
PowerShares BulletShares 2020 Corporate Bond Portfolio |
0.10 | %(1) |
Fund |
Advisory Fee | |||
PowerShares BulletShares 2021 Corporate Bond Portfolio |
0.10 | %(1) | ||
PowerShares BulletShares 2022 Corporate Bond Portfolio |
0.10 | %(1) | ||
PowerShares BulletShares 2023 Corporate Bond Portfolio |
0.10 | %(1) | ||
PowerShares BulletShares 2024 Corporate Bond Portfolio |
0.10 | %(1) | ||
PowerShares BulletShares 2025 Corporate Bond Portfolio |
0.10 | %(1) | ||
PowerShares BulletShares 2026 Corporate Bond Portfolio |
0.10 | %(1) | ||
PowerShares BulletShares 2027 Corporate Bond Portfolio |
0.10 | %(1) |
(1) | Prior to April 9, 2018, the Funds unitary management fee was 0.24%. Effective April 9, 2018 through April 19, 2018, the Adviser voluntarily agreed to waive permanently a portion of the Funds unitary management fee. After giving effect to such waiver, the net unitary management fee was 0.10%. Effective April 20, 2018, the unitary management fee of the Fund was reduced to 0.10%. |
On April 19, 2018, the Board of Trustees of the Trust approved changing the Funds names. Effective on or about June 4, 2018, the name of each Fund and all references thereto are changing as indicated below:
CURRENT NAME |
NEW NAME | |
PowerShares BulletShares 2018 Corporate Bond Portfolio |
Invesco BulletShares 2018 Corporate Bond ETF | |
PowerShares BulletShares 2019 Corporate Bond Portfolio |
Invesco BulletShares 2019 Corporate Bond ETF | |
PowerShares BulletShares 2020 Corporate Bond Portfolio |
Invesco BulletShares 2020 Corporate Bond ETF | |
PowerShares BulletShares 2021 Corporate Bond Portfolio |
Invesco BulletShares 2021 Corporate Bond ETF | |
PowerShares BulletShares 2022 Corporate Bond Portfolio |
Invesco BulletShares 2022 Corporate Bond ETF | |
PowerShares BulletShares 2023 Corporate Bond Portfolio |
Invesco BulletShares 2023 Corporate Bond ETF | |
PowerShares BulletShares 2024 Corporate Bond Portfolio |
Invesco BulletShares 2024 Corporate Bond ETF | |
PowerShares BulletShares 2025 Corporate Bond Portfolio |
Invesco BulletShares 2025 Corporate Bond ETF | |
PowerShares BulletShares 2026 Corporate Bond Portfolio |
Invesco BulletShares 2026 Corporate Bond ETF | |
PowerShares BulletShares 2027 Corporate Bond Portfolio |
Invesco BulletShares 2027 Corporate Bond ETF | |
PowerShares BulletShares 2018 High Yield Corporate Bond Portfolio |
Invesco BulletShares 2018 High Yield Corporate Bond ETF | |
PowerShares BulletShares 2019 High Yield Corporate Bond Portfolio |
Invesco BulletShares 2019 High Yield Corporate Bond ETF | |
PowerShares BulletShares 2020 High Yield Corporate Bond Portfolio |
Invesco BulletShares 2020 High Yield Corporate Bond ETF | |
PowerShares BulletShares 2021 High Yield Corporate Bond Portfolio |
Invesco BulletShares 2021 High Yield Corporate Bond ETF | |
PowerShares BulletShares 2022 High Yield Corporate Bond Portfolio |
Invesco BulletShares 2022 High Yield Corporate Bond ETF | |
PowerShares BulletShares 2023 High Yield Corporate Bond Portfolio |
Invesco BulletShares 2023 High Yield Corporate Bond ETF | |
PowerShares BulletShares 2024 High Yield Corporate Bond Portfolio |
Invesco BulletShares 2024 High Yield Corporate Bond ETF |
On April 19, 2018, the Board of Trustees of the Trust approved changing the Trusts name. Effective on or about June 4, 2018, the name of the Trust and all references thereto are changing as indicated below:
CURRENT NAME |
NEW NAME | |
PowerShares Exchange-Traded Self-Indexed Fund Trust |
Invesco Exchange-Traded Self-Indexed Fund Trust |
In addition, effective on or about June 4, 2018, the names of the following trusts and all references thereto are changing as indicated below:
CURRENT NAME |
NEW NAME | |
PowerShares Exchange-Traded Fund Trust |
Invesco Exchange-Traded Fund Trust | |
PowerShares Exchange-Traded Fund Trust II |
Invesco Exchange-Traded Fund Trust II | |
PowerShares Actively Managed Exchange-Traded Fund Trust |
Invesco Actively Managed Exchange-Traded Fund Trust | |
PowerShares Actively Managed Exchange-Traded Commodity Fund Trust |
Invesco Actively Managed Exchange-Traded Commodity Fund Trust | |
PowerShares India Exchange-Traded Fund Trust |
Invesco India Exchange-Traded Fund Trust |
Effective on or about June 4, 2018, the name of the investment adviser is changing from Invesco PowerShares Capital Management LLC to Invesco Capital Management LLC and all references thereto are changing accordingly.
Effective on or about June 4, 2018, any and all references to PowerShares family of ETFs are hereby changing to Invesco family of ETFs.
Effective on or about June 4, 2018, www.powershares.com is changing to www.invesco.com, info@powershares.com is changing to info@invesco.com, and www.powershares.com/capitalmarkets is changing to www.invesco.com/capitalmarkets, as applicable.
Effective on or about June 4, 2018, any and all references to PowerShares are changing to Invesco.
Please Retain This Supplement for Future Reference.
P-SIFT-PROSAI-SUP-GBL 042018