Five PowerShares' ETFs Get New Names, Indexes

The updated ETFs are now based on indexes developed by Ibbotson, Morningstar and Standard & Poors.

As of July 1, five Invesco PowerShares' 120 ETFs have new names and are linked to new indexes. Their ticker symbols remain unchanged.

"We believe the new indexes will better align the portfolios with the changing investment landscape, provide investors with the potential for improved risk-adjusted returns, and position our family of ETFs for continued growth," said Ben Fulton, Invesco PowerShares managing director of global ETFs, in a statement.

The PowerShares Autonomic Growth NFA Global Asset ETF (PTO) is now the PowerShares Ibbotson Alternative Completion Portfolio ETF.

Its former index, the New Frontier Global Dynamic Growth Index, has been replaced by the Ibbotson Alternative Completion Index, which tracks the investment performance of a group of asset classes; its investment strategy focuses on those assets that Ibbotson expects to have a low correlation, or different performance, from traditional assets classes.

The PowerShares Autonomic Balanced Growth NFA Global Asset ETF (PAO) is now the PowerShares Riverfront Tactical Balanced Growth Portfolio ETF. The former index, the New Frontier Global Dynamic Balanced Growth Index, has been replaced by the RiverFront Global Tactical Balanced Growth Index.

This RiverFront index incorporates a five-step process to build a strategic allocation of large-, small-, and mid-cap stocks, international securities, investment-grade bonds, high-yield bonds, commodities and other assets classes.

It is generally 80% invested in equities and 20% in fixed-income and other assets, including currencies.

The PowerShares Autonomic Balanced NFA Global Asset ETF (PCA) now trades as the PowerShares Riverfront Tactical Growth & Income Portfolio ETF. Its former index, the New Fronter Global Dynamic Balanced Index, has been replaced by the RiverFront Global Tactical Balanced Growth & Income Index.

This index is similar to the RiverFront Global Tactical Balanced Growth Index. However, it is 50% invested in equities and 50% in fixed income.

In addition, the PowerShares Value Line Timeliness Select ETF (PIV) now trades as the PowerShares S&P500 High Quality Portfolio, and the PowerShares Value Line Industry Rotation ETF (PYH) has been renamed the PowerShares Morningstar StockInvestor Core Portfolio.

The two ETFs rely on the S&P 500 High Quality Rankings Index and the Morningstar StockInvestor Core Index, respectively, for their holdings.

The Morningstar StockInvestor Core Index is a diversified portfolio of stocks from the research firm's Tortoise and Hare portfolios, which are featured in its popular "Morningstar StockInvestor" newsletter and are edited by Morningstar equities strategist Paul Larson.

According to Morningstar, the Tortoise and Hare portfolios comprise high-quality companies that are trading at sharp discounts to what Morningstar's equity research analysts believe they're worth.

The S&P 500 High Quality Rankings Index provides exposure to the constituents of the S&P 500 that are identified as high quality stocks, according to S&P, which are those stocks with quality rankings of A- and above.

As of March 31, PowerShares ETFs had assets of over $47 billion.

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