PowerShares VRDO Tax-Free Weekly Portfolio (PVI) Surpasses $1 Billion in AUM.…
Invesco PowerShares, a leading provider of exchange-traded funds (ETFs), announced today that on Friday, September 25, the PowerShares VRDO Tax-Free Weekly Portfolio (PVI) surpassed $1 billion in assets under management (AUM).
Launched in November of 2007, the PowerShares VRDO Tax-Free Weekly Portfolio was the first ETF to provide investors access to the variable rate demand obligation (VRDO) market. VRDOs are floating-rate municipal bonds that offer investors tax-exempt income in a short-term time frame.
Historically, the VRDO market has generally been accessible only by institutional investors. Large trading denominations (generally starting at $100,000) created a barrier between VRDOs and the average investor. Invesco PowerShares took strides to eliminate that barrier by launching PVI.
“Invesco PowerShares has strived to provide investors access to markets that have traditionally been difficult to invest in, and we are very pleased with the success of PVI,” said Bruce Bond, president and CEO of Invesco PowerShares. “The PowerShares VRDO Tax-Free Weekly Portfolio epitomizes our commitment to providing innovative investment products that feature the tax efficiency,1 transparency,2 and liquidity3 benefits inherent to the ETF structure.”
The PowerShares VRDO Tax-Free Weekly Portfolio is based on the Thomson Municipal Market Data VRDO Index. The Fund will normally invest at least 90% of its total assets in securities that comprise the Index. The Index is designed to track the performance of a pool of tax-exempt VRDOs issued by municipalities in the United States on which the yields generally reset on a weekly basis.
Source: ETFWorld – Invesco PowerShares
1. PWC – PowerShares Dynamic Market Portfolio – $0.093690
2. PWO – PowerShares Dynamic OTC Portfolio – $0.003840
3. PGJ – PowerShares Golden Dragon Halter USX China Portfolio – $0.029580
4. PWB – PowerShares Dynamic Large Cap Growth Portfolio – $0.011540
5. PWV – PowerShares Dynamic Large Cap Value Portfolio – $0.086640
6. PWP – PowerShares Dynamic Mid Cap Value Portfolio – $0.034700
7. PWT – PowerShares Dynamic Small Cap Growth Portfolio – $0.005010
8. PWY – PowerShares Dynamic Small Cap Value Portfolio – $0.027250
9. PBJ – PowerShares Dynamic Food & Beverage Portfolio – $0.062160
10. PEJ – PowerShares Dynamic Leisure & Entertainment Portfolio – $0.000000
11. PJP – PowerShares Dynamic Pharmaceuticals Portfolio – $0.066080
12. PSI – PowerShares Dynamic Semiconductors Portfolio – $0.014870
13. PTE – PowerShares Dynamic Telecommunications & Wireless P – $0.039140
14. PID – PowerShares International Dividend Achievers Portfolio – $0.071140
15. PFM – PowerShares Dividend Achievers Portfolio – $0.062170
16. PZI – PowerShares Zacks Micro Cap Portfolio – $0.032480
17. PXJ – PowerShares Dynamic Oil & Gas Services Portfolio – $0.013290
18. PIC – PowerShares Dynamic Insurance Portfolio – $0.025460
19. PMR – PowerShares Dynamic Retail Portfolio – $0.011570
20. PKB – PowerShares Dynamic Building & Construction Portfolio – $0.000000
21. PUI – PowerShares Dynamic Utilities Portfolio – $0.144730
22. PXE – PowerShares Dynamic Energy Exploration & Production P – $0.037140
23. PXN – PowerShares Lux Nanotech Portfolio – $0.000000
24. PPA – PowerShares Aerospace & Defense Portfolio – $0.044520
25. PIV – PowerShares Value Line Timeliness Select Portfolio – $0.000000
26. PZJ – PowerShares Zacks Small Cap Portfolio – $0.000000
27. PHO – PowerShares Water Resources Portfolio – $0.004360
28. PRF – PowerShares FTSE RAFI US 1000 Portfolio – $0.144200
29. PIQ – PowerShares Dynamic MagniQuant Portfolio – $0.017500
30. PJM – PowerShares Dynamic Small Cap Portfolio – $0.009890
31. PJF – PowerShares Dynamic Large Cap Portfolio – $0.067650
32. PJG – PowerShares Dynamic Mid Cap Portfolio – $0.022290
33. PYZ – PowerShares Dynamic Basic Materials Sector Portfolio – $0.063830
34. PEZ – PowerShares Dynamic Consumer Discretionary Sector Po – $0.000000
35. PSL – PowerShares Dynamic Consumer Staples Sector Portfolio – $0.082170
36. PXI – PowerShares Dynamic Energy Sector Portfolio – $0.089730
37. PFI – PowerShares Dynamic Financial Sector Portfolio – $0.035450
38. PRN – PowerShares Dynamic Industrials Sector Portfolio – $0.035720
39. PTH – PowerShares Dynamic Healthcare Sector Portfolio – $0.000000
40. PJB – PowerShares Dynamic Banking Portfolio – $0.043020
41. PUW – PowerShares WilderHill Progressive Energy Portfolio – $0.003170
42. PSP – PowerShares Listed Private Equity Portfolio – $0.094890
43. PZD – PowerShares Cleantech Portfolio – $0.000000
44. PKW – PowerShares Buyback Achievers Portfolio – $0.058020
45. PDP – PowerShares DWA Technical Leaders Portfolio – $0.017950
46. PYH – PowerShares Value Line Industry Rotation Portfolio – $0.016660
47. PBP – PowerShares S&P 500 BuyWrite Portfolio – $0.064960
48. PFA – PowerShares Dynamic Developed International Opportuni – $0.043170
49. PAF – PowerShares FTSE RAFI Asia Pacific ex-Japan Portfolio – $0.310720
50. PEF – PowerShares FTSE RAFI Europe Portfolio – $0.000000
51. PJO – PowerShares FTSE RAFI Japan Portfolio – $0.000000
52. PIO – PowerShares Global Water Portfolio – $0.045130
53. PBD – PowerShares Global Clean Energy Portfolio – $0.000000
54. PXF – PowerShares FTSE RAFI Developed Markets ex-U.S. Por – $0.053160
55. PXH – PowerShares FTSE RAFI Emerging Markets Portfolio – $0.060080
56. PDN – PowerShares FTSE RAFI Developed Markets ex-U.S. Sm – $0.021810
57. PCA – PowerShares Autonomic Balanced NFA Global Asset Port – $0.049520
58. PAO – PowerShares Autonomic Balanced Growth NFA Global As – $0.036760
59. PMA – PowerShares Active Mega-Cap Fund – $0.000000
60. PSR – PowerShares Active U.S. Real Estate Fund – $0.087510
61. PIN – PowerShares India Fund – $0.038070
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