Morningstar Advisor - February/March 2012 - (Page 2)

Taxes can be venomous to wealth creation. TAXES ON CAPITAL GAINS TAKE AWAY MONEY YOU COULD BE INVESTING. WE STRIVE TO MANAGE OUR EXCHANGE-TRADED FUND (ETF) HOLDINGS IN A WAY THAT MINIMIZES CAPITAL GAINS INCURRED BY THE FUND. SINCE OUR INCEPTION IN 2003, THIS PROCESS HAS RESULTED IN ZERO CAPITAL GAINS DISTRIBUTIONS ON 99% OF OUR ETFs. VISIT INVESCOPOWERSHARES.COM TODAY TO LEARN ABOUT OUR TAX-EFFICIENT ETFs, INCLUDING POWERSHARES QQQ. The best situation for your clients is the agility to avoid a bad one. // There are risks involved with investing in exchange-traded funds (ETFs) including possible loss of money. The funds are not actively managed and are subject to risks similar to stocks, including those related to short selling and margin maintenance. Ordinary brokerage commissions apply. Shares are not FDIC // Invesco PowerShares does not offer tax advice. Investors should consult their own tax advisors for information regarding their own tax situations. insured, may lose value and have no bank guarantee. // Shares are not individually redeemable and owners of the shares may acquire those shares from the Funds and tender those shares for redemption to the funds in Creation Unit aggregations only, typically consisting of 50,000 shares. // PowerShares ® is a registered trademark of Invesco PowerShares Capital Management LLC. ALPS Distributors, Inc. is the distributor for QQQ. While it is not Invesco PowerShares’ intention, there is no guarantee that the PowerShares ETFs will not distribute capital gains to their shareholders. // An investor should c on si de r t h e Fund’s investment objec tive, risks, charges and expenses carefully before investing. To obtain a prospectus, which contains this and other information about the QQQ, a unit investment trust, please contact your broker, call 800.983.0903 or visit www.invescopowershares.com. Please read the prospectus carefully before investing. Invesco PowerShares Capital Management LLC is not afﬁliated with ALPS Distributors, Inc. invescopowershares.com | Follow us @PowerShares http://www.INVESCOPOWERSHARES.COM http://www.invescopowershares.com http://www.INVESCOPOWERSHARES.COM http://www.invescopowershares.com

Table of Contents for the Digital Edition of Morningstar Advisor - February/March 2012

Morningstar Advisor - February/March 2012
Contents
Contributors
Letter From the Editor
Make a Difference Stories, Not Debates
How Concerned Are You About Europe?
Analytical and Independent
What to Ask When a Fund Manager Leaves
Past, Present, Future
Have Financials Gotten Cheap Enough?
Four Picks for the Present
Investment Briefs
Tactical Funds Miss Their Chance
Specialty Retail: Ad Hoc Opportunity
How Europe Is Making Its Crisis Worse
Impact on U.S. Economy Will Be Minimal
European Banks: Bargains or Value Traps?
Don’t Count the Euro Out Yet
Europe on the Brink
GoodHaven Realizes Its Vision
How Index Trading Increases Market Vulnerability
Nonlisted REITS: Handle With Care
Safety Picks for the Many Moods of Mr. Market
On the Prowl for Large- Blend Index-Beaters
Our Favorite Mutual Funds
50 Most Popular ETFs
Undervalued Stocks With Wide Moats
The Math That Matters

Morningstar Advisor - February/March 2012