# EDGAR Filing Document

**Accession Number:** 0001209466
**File Stem:** 0001209466-25-000165
**Filing Date:** 2025-9
**Character Count:** 149250
**Document Hash:** 574799f824c871bbd1b0ef9aaa1adebb
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001209466-25-000165.hdr.sgml**: 20250926

**ACCESSION NUMBER**: 0001209466-25-000165

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250731

**FILED AS OF DATE**: 20250926

**DATE AS OF CHANGE**: 20250926

**PERIOD START**: 20260430

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** INVESCO EXCHANGE-TRADED FUND TRUST
- **CENTRAL INDEX KEY:** 0001209466

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 0430

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-21265
- **FILM NUMBER:** 251346736

**BUSINESS ADDRESS:**
- **STREET 1:** 3500 LACEY ROAD
- **STREET 2:** SUITE 700
- **CITY:** DOWNERS GROVE
- **STATE:** IL
- **ZIP:** 60515
- **BUSINESS PHONE:** 800-983-0903

**MAIL ADDRESS:**
- **STREET 1:** 3500 LACEY ROAD
- **STREET 2:** SUITE 700
- **CITY:** DOWNERS GROVE
- **STATE:** IL
- **ZIP:** 60515

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** POWERSHARES EXCHANGE TRADED FUND TRUST
- **DATE OF NAME CHANGE:** 20021210

## Series and Classes Contracts Data

### Invesco Leisure and Entertainment ETF (Series ID: S000003028)

| Class ID   | Class Name                            | Ticker Symbol   |
|:---|:---|:---|
| C000008295 | Invesco Leisure and Entertainment ETF | PEJ             |

## Nport-Ex

Schedule of Investments<sup>(a)</sup>

**Invesco AI and Next Gen Software ETF (IGPT)**

July 31, 2025

*(Unaudited)*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Common Stocks & Other Equity Interests-99.92%** | **Common Stocks & Other Equity Interests-99.92%** | **Common Stocks & Other Equity Interests-99.92%** |
| **Advertising-1.25%** | **Advertising-1.25%** | **Advertising-1.25%** |
| Magnite, Inc.<sup>(b)(c)</sup> | 21136 | &nbsp;&nbsp; $486339 |
| Trade Desk, Inc. (The), Class A<sup>(b)</sup> | 67127 | &nbsp;&nbsp; 5837364 |
|  |  | &nbsp;&nbsp; 6323703 |
| **Aerospace & Defense-0.25%** | **Aerospace & Defense-0.25%** | **Aerospace & Defense-0.25%** |
| AeroVironment, Inc.<sup>(b)(c)</sup> | 4689 | &nbsp;&nbsp; 1254964 |
| **Alternative Carriers-0.06%** | **Alternative Carriers-0.06%** | **Alternative Carriers-0.06%** |
| Cogent Communications Holdings, Inc.<sup>(c)</sup> | 6490 | &nbsp;&nbsp; 295879 |
| **Application Software-18.32%** | **Application Software-18.32%** | **Application Software-18.32%** |
| Adobe, Inc.<sup>(b)</sup> | 63664 | &nbsp;&nbsp; 22771976 |
| Autodesk, Inc.<sup>(b)</sup> | 32048 | &nbsp;&nbsp; 9714069 |
| Bentley Systems, Inc., Class B<sup>(c)</sup> | 26979 | &nbsp;&nbsp; 1564242 |
| Braze, Inc., Class A<sup>(b)(c)</sup> | 12718 | &nbsp;&nbsp; 354451 |
| Cadence Design Systems, Inc.<sup>(b)(c)</sup> | 35581 | &nbsp;&nbsp; 12971765 |
| Dassault Systemes SE (France) | 108614 | &nbsp;&nbsp; 3578582 |
| DocuSign, Inc.<sup>(b)</sup> | 30331 | &nbsp;&nbsp; 2294237 |
| DoubleVerify Holdings, Inc.<sup>(b)</sup> | 20161 | &nbsp;&nbsp; 308867 |
| Elastic N.V.<sup>(b)</sup> | 13667 | &nbsp;&nbsp; 1143928 |
| Five9, Inc.<sup>(b)(c)</sup> | 11283 | &nbsp;&nbsp; 291440 |
| Freshworks, Inc., Class A<sup>(b)(c)</sup> | 33750 | &nbsp;&nbsp; 438412 |
| Horizon Robotics (China)<sup>(b)</sup> | 1351979 | &nbsp;&nbsp; 1188575 |
| HubSpot, Inc.<sup>(b)</sup> | 7901 | &nbsp;&nbsp; 4105755 |
| Informatica, Inc., Class A<sup>(b)</sup> | 16446 | &nbsp;&nbsp; 406216 |
| MicroStrategy, Inc., Class A<sup>(b)</sup> | 38035 | &nbsp;&nbsp; 15284745 |
| Nemetschek SE (Germany) | 5189 | &nbsp;&nbsp; 775396 |
| Nice Ltd. (Israel)<sup>(b)</sup> | 7905 | &nbsp;&nbsp; 1235805 |
| Pegasystems, Inc. | 12971 | &nbsp;&nbsp; 761527 |
| Samsara, Inc., Class A<sup>(b)</sup> | 44056 | &nbsp;&nbsp; 1675450 |
| Synopsys, Inc.<sup>(b)</sup> | 15310 | &nbsp;&nbsp; 9698426 |
| Unity Software, Inc.<sup>(b)(c)</sup> | 52270 | &nbsp;&nbsp; 1743727 |
|  |  | &nbsp;&nbsp; 92307591 |
| **Casinos & Gaming-0.07%** | **Casinos & Gaming-0.07%** | **Casinos & Gaming-0.07%** |
| Genius Sports Ltd. (United Kingdom)<sup>(b)(c)</sup> | 32369 | &nbsp;&nbsp; 364151 |
| **Consumer Electronics-0.61%** | **Consumer Electronics-0.61%** | **Consumer Electronics-0.61%** |
| Garmin Ltd. | 14149 | &nbsp;&nbsp; 3095235 |
| **Data Center REITs-4.03%** | **Data Center REITs-4.03%** | **Data Center REITs-4.03%** |
| Digital Realty Trust, Inc. | 47182 | &nbsp;&nbsp; 8324792 |
| Equinix, Inc. | 14657 | &nbsp;&nbsp; 11508237 |
| Keppel DC REIT (Singapore) | 267319 | &nbsp;&nbsp; 486867 |
|  |  | &nbsp;&nbsp; 20319896 |
| **Electrical Components & Equipment-2.58%** | **Electrical Components & Equipment-2.58%** | **Electrical Components & Equipment-2.58%** |
| AMETEK, Inc. | 24358 | &nbsp;&nbsp; 4502576 |
| Emerson Electric Co. | 45504 | &nbsp;&nbsp; 6621287 |
| Nidec Corp. (Japan) | 96731 | &nbsp;&nbsp; 1859670 |
|  |  | &nbsp;&nbsp; 12983533 |
| **Electronic Components-0.25%** | **Electronic Components-0.25%** | **Electronic Components-0.25%** |
| Largan Precision Co. Ltd. (Taiwan) | 15853 | &nbsp;&nbsp; 1243401 |
| **Electronic Equipment & Instruments-3.56%** | **Electronic Equipment & Instruments-3.56%** | **Electronic Equipment & Instruments-3.56%** |
| Cognex Corp.<sup>(c)</sup> | 25144 | &nbsp;&nbsp; 1025121 |
| Halma PLC (United Kingdom) | 41418 | &nbsp;&nbsp; 1775839 |
| Hexagon AB, Class B (Sweden)<sup>(c)</sup> | 275885 | &nbsp;&nbsp; 3040594 |
| INFICON HOLDING AG (Switzerland) | 2552 | &nbsp;&nbsp; 307148 |
| Keyence Corp. (Japan) | 30953 | &nbsp;&nbsp; 11219365 |
| Novanta, Inc.<sup>(b)(c)</sup> | 2755 | &nbsp;&nbsp; 338920 |
| RoboSense Technology Co., Ltd. (China)<sup>(b)</sup> | 54901 | &nbsp;&nbsp; 213291 |
|  |  | &nbsp;&nbsp; 17920278 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Electronic Manufacturing Services-0.14%** | **Electronic Manufacturing Services-0.14%** | **Electronic Manufacturing Services-0.14%** |
| Foxconn Industrial Internet Co. Ltd. (China) | 72400 | &nbsp;&nbsp; $345821 |
| IPG Photonics Corp.<sup>(b)(c)</sup> | 4583 | &nbsp;&nbsp; 343221 |
|  |  | &nbsp;&nbsp; 689042 |
| **Health Care Equipment-5.11%** | **Health Care Equipment-5.11%** | **Health Care Equipment-5.11%** |
| Intuitive Surgical, Inc.<sup>(b)</sup> | 53541 | &nbsp;&nbsp; 25758040 |
| **Health Care Services-0.11%** | **Health Care Services-0.11%** | **Health Care Services-0.11%** |
| RadNet, Inc.<sup>(b)(c)</sup> | 10556 | &nbsp;&nbsp; 577730 |
| **Industrial Machinery & Supplies & Components-0.91%** | **Industrial Machinery & Supplies & Components-0.91%** | **Industrial Machinery & Supplies & Components-0.91%** |
| ATS Corp. (Canada)<sup>(b)(c)</sup> | 11045 | &nbsp;&nbsp; 335932 |
| Fortive Corp. | 40394 | &nbsp;&nbsp; 1936084 |
| Harmonic Drive Systems, Inc. (Japan) | 9297 | &nbsp;&nbsp; 176621 |
| Hiwin Technologies Corp. (Taiwan) | 38090 | &nbsp;&nbsp; 267391 |
| MINEBEA MITSUMI, Inc. (Japan) | 34959 | &nbsp;&nbsp; 551313 |
| Rainbow Robotics (South Korea)<sup>(b)</sup> | 1292 | &nbsp;&nbsp; 254691 |
| UBTech Robotics Corp Ltd. (China)<sup>(b)(c)</sup> | 26959 | &nbsp;&nbsp; 306182 |
| Yaskawa Electric Corp. (Japan)<sup>(c)</sup> | 35413 | &nbsp;&nbsp; 742192 |
|  |  | &nbsp;&nbsp; 4570406 |
| **Interactive Home Entertainment-0.66%** | **Interactive Home Entertainment-0.66%** | **Interactive Home Entertainment-0.66%** |
| Electronic Arts, Inc. | 21666 | &nbsp;&nbsp; 3303848 |
| **Interactive Media & Services-18.59%** | **Interactive Media & Services-18.59%** | **Interactive Media & Services-18.59%** |
| Alphabet, Inc., Class A | 214905 | &nbsp;&nbsp; 41240270 |
| Baidu, Inc., A Shares (China)<sup>(b)</sup> | 181641 | &nbsp;&nbsp; 1987395 |
| Meta Platforms, Inc., Class A | 54456 | &nbsp;&nbsp; 42118449 |
| Pinterest, Inc., Class A<sup>(b)</sup> | 89014 | &nbsp;&nbsp; 3435940 |
| Reddit, Inc., Class A<sup>(b)(c)</sup> | 18242 | &nbsp;&nbsp; 2929483 |
| Snap, Inc., Class A<sup>(b)(c)</sup> | 177404 | &nbsp;&nbsp; 1672920 |
| Trump Media & Technology Group Corp.<sup>(b)(c)</sup> | 15677 | &nbsp;&nbsp; 275758 |
|  |  | &nbsp;&nbsp; 93660215 |
| **Internet Services & Infrastructure-2.49%** | **Internet Services & Infrastructure-2.49%** | **Internet Services & Infrastructure-2.49%** |
| GDS Holdings Ltd., A Shares (China)<sup>(b)</sup> | 103779 | &nbsp;&nbsp; 467706 |
| NEXTDC Ltd. (Australia)<sup>(b)(c)</sup> | 96058 | &nbsp;&nbsp; 886163 |
| Snowflake, Inc., Class A<sup>(b)</sup> | 50046 | &nbsp;&nbsp; 11185281 |
|  |  | &nbsp;&nbsp; 12539150 |
| **Movies & Entertainment-0.31%** | **Movies & Entertainment-0.31%** | **Movies & Entertainment-0.31%** |
| Roku, Inc., Class A<sup>(b)</sup> | 16624 | &nbsp;&nbsp; 1565316 |
| **Semiconductors-35.90%** | **Semiconductors-35.90%** | **Semiconductors-35.90%** |
| Advanced Micro Devices, Inc.<sup>(b)(c)</sup> | 241450 | &nbsp;&nbsp; 42570049 |
| Alchip Technologies Ltd. (Taiwan) | 11285 | &nbsp;&nbsp; 1442641 |
| Ambarella, Inc.<sup>(b)</sup> | 6275 | &nbsp;&nbsp; 414715 |
| ARM Holdings PLC, ADR<sup>(b)(c)</sup> | 20108 | &nbsp;&nbsp; 2842768 |
| ASMedia Technology, Inc. (Taiwan) | 5032 | &nbsp;&nbsp; 316596 |
| Astera Labs, Inc.<sup>(b)</sup> | 20511 | &nbsp;&nbsp; 2804469 |
| Cambricon Technologies Corp. Ltd. (China)<sup>(b)</sup> | 3663 | &nbsp;&nbsp; 359682 |
| Credo Technology Group Holding Ltd.<sup>(b)</sup> | 21745 | &nbsp;&nbsp; 2425655 |
| Global Unichip Corp. (Taiwan) | 8469 | &nbsp;&nbsp; 339160 |
| &nbsp;&nbsp;&nbsp; Hygon Information Technology Co. Ltd., A <br> Shares (China)<br>| 20396 | &nbsp;&nbsp; 392828 |
| Intel Corp. | 454847 | &nbsp;&nbsp; 9005971 |
| Kioxia Holdings Corp. (Japan)<sup>(b)</sup> | 56162 | &nbsp;&nbsp; 916659 |
| Lattice Semiconductor Corp.<sup>(b)(c)</sup> | 20597 | &nbsp;&nbsp; 1026349 |
| MediaTek, Inc. (Taiwan) | 240043 | &nbsp;&nbsp; 10870245 |
| Microchip Technology, Inc. | 59286 | &nbsp;&nbsp; 4007141 |
| Micron Technology, Inc. | 167499 | &nbsp;&nbsp; 18280841 |
| Nanya Technology Corp. (Taiwan)<sup>(b)</sup> | 174993 | &nbsp;&nbsp; 257620 |
| NVIDIA Corp. | 260395 | &nbsp;&nbsp; 46316459 |
| QUALCOMM, Inc. | 133825 | &nbsp;&nbsp; 19640157 |
| Silicon Laboratories, Inc.<sup>(b)</sup> | 4881 | &nbsp;&nbsp; 643169 |
| SK hynix, Inc. (South Korea) | 78693 | &nbsp;&nbsp; 15251960 |

---

See accompanying notes which are an integral part of this schedule.

------

**Invesco AI and Next Gen Software ETF (IGPT)—(continued)**

July 31, 2025

*(Unaudited)*

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Semiconductors-(continued)** | **Semiconductors-(continued)** | **Semiconductors-(continued)** |
| Socionext, Inc. (Japan)<sup>(c)</sup> | 26614 | &nbsp;&nbsp; $502552 |
| Winbond Electronics Corp. (Taiwan)<sup>(b)</sup> | 476093 | &nbsp;&nbsp; 273240 |
|  |  | &nbsp;&nbsp; 180900926 |
| **Systems Software-0.19%** | **Systems Software-0.19%** | **Systems Software-0.19%** |
| Dolby Laboratories, Inc., Class A | 8533 | &nbsp;&nbsp; 642876 |
| Teradata Corp.<sup>(b)(c)</sup> | 14150 | &nbsp;&nbsp; 296160 |
|  |  | &nbsp;&nbsp; 939036 |
| **Technology Hardware, Storage & Peripherals-4.53%** | **Technology Hardware, Storage & Peripherals-4.53%** | **Technology Hardware, Storage & Peripherals-4.53%** |
| Gigabyte Technology Co. Ltd. (Taiwan) | 59972 | &nbsp;&nbsp; 544106 |
| Hewlett Packard Enterprise Co. | 137829 | &nbsp;&nbsp; 2851682 |
| MiTAC Holdings Corp. (Taiwan)<sup>(b)</sup> | 133534 | &nbsp;&nbsp; 338142 |
| NetApp, Inc. | 22706 | &nbsp;&nbsp; 2364376 |
| Pure Storage, Inc., Class A<sup>(b)(c)</sup> | 26284 | &nbsp;&nbsp; 1564423 |
| Seagate Technology Holdings PLC | 31792 | &nbsp;&nbsp; 4991662 |
| Super Micro Computer, Inc.<sup>(b)(c)</sup> | 75077 | &nbsp;&nbsp; 4427291 |
| Western Digital Corp.<sup>(c)</sup> | 52262 | &nbsp;&nbsp; 4112497 |
| Wiwynn Corp. (Taiwan) | 17751 | &nbsp;&nbsp; 1620073 |
|  |  | &nbsp;&nbsp; 22814252 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks & Other Equity Interests <br>(Cost $393,833,426) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks & Other Equity Interests <br>(Cost $393,833,426) | &nbsp;&nbsp; 503426592 |
| **Money Market Funds-0.11%** | **Money Market Funds-0.11%** | **Money Market Funds-0.11%** |
| &nbsp;&nbsp;&nbsp; Invesco Government & Agency Portfolio, <br> Institutional Class, 4.25%<sup>(d)(e)</sup> <br>(Cost $570,133)<br>| 570133 | &nbsp;&nbsp; 570133 |
| &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES <br>(excluding investments purchased with cash collateral <br> from securities on loan)-100.03% <br>(Cost $394,403,559) | &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES <br>(excluding investments purchased with cash collateral <br> from securities on loan)-100.03% <br>(Cost $394,403,559) | &nbsp;&nbsp; 503996725 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Investments Purchased with Cash Collateral** <br>**from Securities on Loan** | **Investments Purchased with Cash Collateral** <br>**from Securities on Loan** | **Investments Purchased with Cash Collateral** <br>**from Securities on Loan** |
| **Money Market Funds-15.37%** | **Money Market Funds-15.37%** | **Money Market Funds-15.37%** |
| &nbsp;&nbsp;&nbsp; Invesco Private Government Fund, <br> 4.32%<sup>(d)(e)(f)</sup><br>| 21619209 | &nbsp;&nbsp; $21619209 |
| Invesco Private Prime Fund, 4.46%<sup>(d)(e)(f)</sup> | 55778513 | &nbsp;&nbsp; 55789669 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Investments Purchased with Cash Collateral from <br> Securities on Loan <br>(Cost $77,408,878) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Investments Purchased with Cash Collateral from <br> Securities on Loan <br>(Cost $77,408,878) | &nbsp;&nbsp; 77408878 |
| &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES-115.40% <br>(Cost $471,812,437) | &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES-115.40% <br>(Cost $471,812,437) | &nbsp;&nbsp; 581405603 |
| OTHER ASSETS LESS LIABILITIES-(15.40)% | OTHER ASSETS LESS LIABILITIES-(15.40)% | &nbsp;&nbsp; (77583934)<br>|
| NET ASSETS-100.00% | NET ASSETS-100.00% | &nbsp;&nbsp; $503821669 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

Investment Abbreviations: <br> ADR -American Depositary Receipt <br> REIT -Real Estate Investment Trust

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Notes to Schedule of Investments: | Notes to Schedule of Investments: |
| <sup>(a)</sup> | Industry and/or sector classifications used in this report are generally according to the Global Industry Classification Standard, which was developed by and is <br> the exclusive property and a service mark of MSCI Inc. and Standard & Poor's.<br>|
| <sup>(b)</sup> | Non-income producing security. |
| <sup>(c)</sup> | All or a portion of this security was out on loan at July 31, 2025. |
| <sup>(d)</sup> | Affiliated holding. Affiliated holdings are investments in entities which are under common ownership or control of Invesco Ltd. or are investments in entities in <br> which the Fund owns 5% or more of the outstanding voting securities. The table below shows the Fund's transactions in, and earnings from, its investments in <br> affiliates for the three months ended July 31, 2025.<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Value** <br>**April 30, 2025**<br>| **Purchases** <br>**at Cost**<br>| **Proceeds** <br>**from Sales**<br>| **Change in** <br>**Unrealized** <br>**Appreciation**<br>| **Realized** <br>**Gain** <br>**(Loss)**<br>| **Value** <br>**July 31, 2025**<br>| **Dividend Income** |
| **Investments in Affiliated** <br> **Money Market Funds:**<br>|  |  |  |  |  |  |  |
| &nbsp;&nbsp; Invesco Government & Agency <br> Portfolio, Institutional Class<br>| &nbsp;&nbsp;&nbsp; $130743 | &nbsp;&nbsp;&nbsp; $2439424 | &nbsp;&nbsp;&nbsp; $(2000034)<br>| &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $570133 | &nbsp;&nbsp;&nbsp; $3643 |

---

See accompanying notes which are an integral part of this schedule.

------

**Invesco AI and Next Gen Software ETF (IGPT)—(continued)**

July 31, 2025

*(Unaudited)*

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Value**<br> **April 30, 2025**<br>| **Purchases**<br> **at Cost**<br>| **Proceeds**<br> **from Sales**<br>| **Change in**<br> **Unrealized**<br> **Appreciation**<br>| **Realized**<br> **Gain**<br> **(Loss)**<br>| **Value**<br> **July 31, 2025**<br>| **Dividend Income** |
| **Investments Purchased with** <br> **Cash Collateral from** <br> **Securities on Loan:**<br>|  |  |  |  |  |  |  |
| &nbsp;&nbsp; Invesco Private Government <br> Fund<br>| &nbsp;&nbsp;&nbsp; $9825361 | &nbsp;&nbsp;&nbsp; $53834272 | &nbsp;&nbsp;&nbsp; $(42040424)<br>| &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $21619209 | &nbsp;&nbsp;&nbsp; $79,120<br> \*<br>|
| &nbsp;&nbsp; Invesco Private Prime Fund | &nbsp;&nbsp;&nbsp; 25561595 | &nbsp;&nbsp;&nbsp; 122820131 | &nbsp;&nbsp;&nbsp; (92591933)<br>| &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; (124)<br>| &nbsp;&nbsp;&nbsp; 55789669 | &nbsp;&nbsp;&nbsp; 212,816<br> \*<br>|
| &nbsp;&nbsp; Total | &nbsp;&nbsp;&nbsp; $35517699 | &nbsp;&nbsp;&nbsp; $179093827 | &nbsp;&nbsp;&nbsp; $(136632391)<br>| &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $(124)<br>| &nbsp;&nbsp;&nbsp; $77979011 | &nbsp;&nbsp;&nbsp; $295579 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* Represents the income earned on the investment of cash collateral. Does not include rebates and fees paid to lending agent or premiums received from borrowers, if any.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(e)</sup> The rate shown is the 7-day SEC standardized yield as of July 31, 2025. <br> <sup>(f)</sup> The security has been segregated to satisfy the commitment to return the cash collateral received in securities lending transactions upon the borrower's return of the securities loaned.

The valuation policy and a listing of other significant accounting policies are available in the most recent shareholder report.

See accompanying notes which are an integral part of this schedule.

------

Schedule of Investments<sup>(a)</sup>

**Invesco Biotechnology & Genome ETF (PBE)**

July 31, 2025

*(Unaudited)*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Common Stocks & Other Equity Interests-100.03%** | **Common Stocks & Other Equity Interests-100.03%** | **Common Stocks & Other Equity Interests-100.03%** |
| **Biotechnology-79.93%** | **Biotechnology-79.93%** | **Biotechnology-79.93%** |
| Acadia Pharmaceuticals, Inc.<sup>(b)</sup> | 274434 | &nbsp;&nbsp; $6539762 |
| Alnylam Pharmaceuticals, Inc.<sup>(b)</sup> | 38484 | &nbsp;&nbsp; 15094964 |
| Amgen, Inc. | 39951 | &nbsp;&nbsp; 11789540 |
| Amicus Therapeutics, Inc.<sup>(b)</sup> | 975908 | &nbsp;&nbsp; 5845689 |
| Anavex Life Sciences Corp.<sup>(b)(c)</sup> | 826278 | &nbsp;&nbsp; 9336941 |
| Arrowhead Pharmaceuticals, Inc.<sup>(b)(c)</sup> | 396206 | &nbsp;&nbsp; 6260055 |
| BioCryst Pharmaceuticals, Inc.<sup>(b)</sup> | 564381 | &nbsp;&nbsp; 4594061 |
| BioMarin Pharmaceutical, Inc.<sup>(b)</sup> | 192125 | &nbsp;&nbsp; 11114431 |
| CareDx, Inc.<sup>(b)(c)</sup> | 345416 | &nbsp;&nbsp; 4243436 |
| Catalyst Pharmaceuticals, Inc.<sup>(b)</sup> | 245155 | &nbsp;&nbsp; 5229156 |
| Dynavax Technologies Corp.<sup>(b)(c)</sup> | 622665 | &nbsp;&nbsp; 6836862 |
| Exact Sciences Corp.<sup>(b)</sup> | 107668 | &nbsp;&nbsp; 5055013 |
| Exelixis, Inc.<sup>(b)</sup> | 141324 | &nbsp;&nbsp; 5118755 |
| Gilead Sciences, Inc. | 102340 | &nbsp;&nbsp; 11491759 |
| Halozyme Therapeutics, Inc.<sup>(b)</sup> | 111902 | &nbsp;&nbsp; 6710763 |
| Incyte Corp.<sup>(b)</sup> | 93186 | &nbsp;&nbsp; 6978699 |
| MannKind Corp.<sup>(b)(c)</sup> | 1448197 | &nbsp;&nbsp; 5474185 |
| Neurocrine Biosciences, Inc.<sup>(b)</sup> | 49655 | &nbsp;&nbsp; 6367261 |
| Protagonist Therapeutics, Inc.<sup>(b)(c)</sup> | 131159 | &nbsp;&nbsp; 7064224 |
| PTC Therapeutics, Inc.<sup>(b)(c)</sup> | 127239 | &nbsp;&nbsp; 6630424 |
| TG Therapeutics, Inc.<sup>(b)(c)</sup> | 172805 | &nbsp;&nbsp; 6134577 |
| United Therapeutics Corp.<sup>(b)</sup> | 35460 | &nbsp;&nbsp; 9740862 |
| Veracyte, Inc.<sup>(b)(c)</sup> | 217722 | &nbsp;&nbsp; 5118644 |
| Vertex Pharmaceuticals, Inc.<sup>(b)</sup> | 25031 | &nbsp;&nbsp; 11435913 |
|  |  | &nbsp;&nbsp; 180205976 |
| **Life Sciences Tools & Services-11.79%** | **Life Sciences Tools & Services-11.79%** | **Life Sciences Tools & Services-11.79%** |
| Illumina, Inc.<sup>(b)</sup> | 135343 | &nbsp;&nbsp; 13901079 |
| QIAGEN N.V. | 138874 | &nbsp;&nbsp; 6852050 |
| Repligen Corp.<sup>(b)</sup> | 49696 | &nbsp;&nbsp; 5817911 |
|  |  | &nbsp;&nbsp; 26571040 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Pharmaceuticals-8.31%** | **Pharmaceuticals-8.31%** | **Pharmaceuticals-8.31%** |
| Collegium Pharmaceutical, Inc.<sup>(b)(c)</sup> | 206569 | &nbsp;&nbsp; $6168150 |
| Royalty Pharma PLC, Class A | 341523 | &nbsp;&nbsp; 12568047 |
|  |  | &nbsp;&nbsp; 18736197 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks & Other Equity Interests <br>(Cost $205,314,050) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks & Other Equity Interests <br>(Cost $205,314,050) | &nbsp;&nbsp; 225513213 |
| **Money Market Funds-0.04%** | **Money Market Funds-0.04%** | **Money Market Funds-0.04%** |
| &nbsp;&nbsp;&nbsp; Invesco Government & Agency Portfolio, <br> Institutional Class, 4.25%<sup>(d)(e)</sup> <br>(Cost $96,263)<br>| 96263 | &nbsp;&nbsp; 96263 |
| &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES <br>(excluding investments purchased with cash collateral <br> from securities on loan)-100.07% <br>(Cost $205,410,313) | &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES <br>(excluding investments purchased with cash collateral <br> from securities on loan)-100.07% <br>(Cost $205,410,313) | &nbsp;&nbsp; 225609476 |
| **Investments Purchased with Cash Collateral** <br>**from Securities on Loan** | **Investments Purchased with Cash Collateral** <br>**from Securities on Loan** | **Investments Purchased with Cash Collateral** <br>**from Securities on Loan** |
| **Money Market Funds-11.33%** | **Money Market Funds-11.33%** | **Money Market Funds-11.33%** |
| &nbsp;&nbsp;&nbsp; Invesco Private Government Fund, <br> 4.32%<sup>(d)(e)(f)</sup><br>| 7087838 | &nbsp;&nbsp; 7087838 |
| Invesco Private Prime Fund, 4.46%<sup>(d)(e)(f)</sup> | 18451337 | &nbsp;&nbsp; 18455027 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Investments Purchased with Cash Collateral from <br> Securities on Loan <br>(Cost $25,542,865) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Investments Purchased with Cash Collateral from <br> Securities on Loan <br>(Cost $25,542,865) | &nbsp;&nbsp; 25542865 |
| &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES-111.40% <br>(Cost $230,953,178) | &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES-111.40% <br>(Cost $230,953,178) | &nbsp;&nbsp; 251152341 |
| OTHER ASSETS LESS LIABILITIES-(11.40)% | OTHER ASSETS LESS LIABILITIES-(11.40)% | &nbsp;&nbsp; (25708425)<br>|
| NET ASSETS-100.00% | NET ASSETS-100.00% | &nbsp;&nbsp; $225443916 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Notes to Schedule of Investments: | Notes to Schedule of Investments: |
| <sup>(a)</sup> | Industry and/or sector classifications used in this report are generally according to the Global Industry Classification Standard, which was developed by and is <br> the exclusive property and a service mark of MSCI Inc. and Standard & Poor's.<br>|
| <sup>(b)</sup> | Non-income producing security. |
| <sup>(c)</sup> | All or a portion of this security was out on loan at July 31, 2025. |
| <sup>(d)</sup> | Affiliated holding. Affiliated holdings are investments in entities which are under common ownership or control of Invesco Ltd. or are investments in entities in <br> which the Fund owns 5% or more of the outstanding voting securities. The table below shows the Fund's transactions in, and earnings from, its investments in <br> affiliates for the three months ended July 31, 2025.<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Value** <br>**April 30, 2025**<br>| **Purchases** <br>**at Cost**<br>| **Proceeds** <br>**from Sales**<br>| **Change in** <br>**Unrealized** <br>**Appreciation**<br>| **Realized** <br>**Gain** <br>**(Loss)**<br>| **Value** <br>**July 31, 2025**<br>| **Dividend Income** |
| **Investments in Affiliated** <br> **Money Market Funds:**<br>|  |  |  |  |  |  |  |
| &nbsp;&nbsp; Invesco Government & Agency <br> Portfolio, Institutional Class<br>| &nbsp;&nbsp;&nbsp; $138392 | &nbsp;&nbsp;&nbsp; $736800 | &nbsp;&nbsp;&nbsp; $(778929)<br>| &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $96263 | &nbsp;&nbsp;&nbsp; $1767 |
| **Investments Purchased with** <br> **Cash Collateral from** <br> **Securities on Loan:**<br>|  |  |  |  |  |  |  |
| &nbsp;&nbsp; Invesco Private Government <br> Fund<br>| &nbsp;&nbsp;&nbsp; 6312059 | &nbsp;&nbsp;&nbsp; 32981066 | &nbsp;&nbsp;&nbsp; (32205287)<br>| &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; 7087838 | &nbsp;&nbsp;&nbsp; 76,500<br> \*<br>|
| &nbsp;&nbsp; Invesco Private Prime Fund | &nbsp;&nbsp;&nbsp; 16313117 | &nbsp;&nbsp;&nbsp; 71586502 | &nbsp;&nbsp;&nbsp; (69444437)<br>| &nbsp;&nbsp;&nbsp; 685 | &nbsp;&nbsp;&nbsp; (840)<br>| &nbsp;&nbsp;&nbsp; 18455027 | &nbsp;&nbsp;&nbsp; 205,752<br> \*<br>|
| &nbsp;&nbsp; Total | &nbsp;&nbsp;&nbsp; $22763568 | &nbsp;&nbsp;&nbsp; $105304368 | &nbsp;&nbsp;&nbsp; $(102428653)<br>| &nbsp;&nbsp;&nbsp; $685 | &nbsp;&nbsp;&nbsp; $(840)<br>| &nbsp;&nbsp;&nbsp; $25639128 | &nbsp;&nbsp;&nbsp; $284019 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* Represents the income earned on the investment of cash collateral. Does not include rebates and fees paid to lending agent or premiums received from borrowers, if any.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

See accompanying notes which are an integral part of this schedule.

------

**Invesco Biotechnology & Genome ETF (PBE)—(continued)**

July 31, 2025

*(Unaudited)*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(e)</sup> The rate shown is the 7-day SEC standardized yield as of July 31, 2025. <br> <sup>(f)</sup> The security has been segregated to satisfy the commitment to return the cash collateral received in securities lending transactions upon the borrower's return of the securities loaned.

The valuation policy and a listing of other significant accounting policies are available in the most recent shareholder report.

See accompanying notes which are an integral part of this schedule.

------

Schedule of Investments<sup>(a)</sup>

**Invesco Building & Construction ETF (PKB)**

July 31, 2025

*(Unaudited)*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Common Stocks & Other Equity Interests-99.96%** | **Common Stocks & Other Equity Interests-99.96%** | **Common Stocks & Other Equity Interests-99.96%** |
| **Building Products-17.71%** | **Building Products-17.71%** | **Building Products-17.71%** |
| Armstrong World Industries, Inc. | 39689 | &nbsp;&nbsp; $7468279 |
| Carrier Global Corp. | 158905 | &nbsp;&nbsp; 10904061 |
| Griffon Corp. | 90521 | &nbsp;&nbsp; 7356642 |
| Janus International Group, Inc.<sup>(b)(c)</sup> | 756287 | &nbsp;&nbsp; 6481380 |
| Johnson Controls International PLC | 113781 | &nbsp;&nbsp; 11947005 |
|  |  | &nbsp;&nbsp; 44157367 |
| **Construction & Engineering-34.21%** | **Construction & Engineering-34.21%** | **Construction & Engineering-34.21%** |
| AECOM | 57295 | &nbsp;&nbsp; 6459438 |
| Argan, Inc. | 29768 | &nbsp;&nbsp; 7292565 |
| Comfort Systems USA, Inc. | 12913 | &nbsp;&nbsp; 9081713 |
| EMCOR Group, Inc. | 24169 | &nbsp;&nbsp; 15165806 |
| MasTec, Inc.<sup>(b)</sup> | 40332 | &nbsp;&nbsp; 7631218 |
| MYR Group, Inc.<sup>(b)(c)</sup> | 39001 | &nbsp;&nbsp; 7546693 |
| Primoris Services Corp.<sup>(c)</sup> | 85901 | &nbsp;&nbsp; 8089297 |
| Sterling Infrastructure, Inc.<sup>(b)(c)</sup> | 32753 | &nbsp;&nbsp; 8764375 |
| Tutor Perini Corp.<sup>(b)(c)</sup> | 169912 | &nbsp;&nbsp; 8181263 |
| Valmont Industries, Inc. | 19560 | &nbsp;&nbsp; 7118862 |
|  |  | &nbsp;&nbsp; 85331230 |
| **Construction Machinery & Heavy Transportation Equipment-2.50%** | **Construction Machinery & Heavy Transportation Equipment-2.50%** | **Construction Machinery & Heavy Transportation Equipment-2.50%** |
| Astec Industries, Inc. | 156985 | &nbsp;&nbsp; 6226025 |
| **Construction Materials-23.53%** | **Construction Materials-23.53%** | **Construction Materials-23.53%** |
| CRH PLC | 120720 | &nbsp;&nbsp; 11522724 |
| Eagle Materials, Inc. | 28736 | &nbsp;&nbsp; 6445197 |
| Knife River Corp.<sup>(b)</sup> | 63132 | &nbsp;&nbsp; 5207127 |
| Martin Marietta Materials, Inc. | 20251 | &nbsp;&nbsp; 11641895 |
| Titan America S.A. (Belgium)<sup>(b)(c)</sup> | 435159 | &nbsp;&nbsp; 6244532 |
| United States Lime & Minerals, Inc. | 59531 | &nbsp;&nbsp; 5928097 |
| Vulcan Materials Co. | 42549 | &nbsp;&nbsp; 11686934 |
|  |  | &nbsp;&nbsp; 58676506 |
| **Forest Products-2.41%** | **Forest Products-2.41%** | **Forest Products-2.41%** |
| Louisiana-Pacific Corp. | 66439 | &nbsp;&nbsp; 6006750 |
| **Gas Utilities-2.71%** | **Gas Utilities-2.71%** | **Gas Utilities-2.71%** |
| Southwest Gas Holdings, Inc. | 86552 | &nbsp;&nbsp; 6763173 |
| **Home Improvement Retail-4.57%** | **Home Improvement Retail-4.57%** | **Home Improvement Retail-4.57%** |
| Home Depot, Inc. (The) | 31029 | &nbsp;&nbsp; 11403468 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Homebuilding-7.03%** | **Homebuilding-7.03%** | **Homebuilding-7.03%** |
| Cavco Industries, Inc.<sup>(b)(c)</sup> | 13721 | &nbsp;&nbsp; $5538756 |
| NVR, Inc.<sup>(b)</sup> | 1589 | &nbsp;&nbsp; 11996140 |
|  |  | &nbsp;&nbsp; 17534896 |
| **Office Services & Supplies-2.52%** | **Office Services & Supplies-2.52%** | **Office Services & Supplies-2.52%** |
| Interface, Inc.<sup>(c)</sup> | 305241 | &nbsp;&nbsp; 6294069 |
| **Research & Consulting Services-2.77%** | **Research & Consulting Services-2.77%** | **Research & Consulting Services-2.77%** |
| Jacobs Solutions, Inc. | 48710 | &nbsp;&nbsp; 6910488 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks & Other Equity Interests <br>(Cost $216,427,241) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks & Other Equity Interests <br>(Cost $216,427,241) | &nbsp;&nbsp; 249303972 |
| **Money Market Funds-0.11%** | **Money Market Funds-0.11%** | **Money Market Funds-0.11%** |
| &nbsp;&nbsp;&nbsp; Invesco Government & Agency Portfolio, <br> Institutional Class, 4.25%<sup>(d)(e)</sup> <br>(Cost $268,474)<br>| 268474 | &nbsp;&nbsp; 268474 |
| &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES <br>(excluding investments purchased with cash collateral <br> from securities on loan)-100.07% <br>(Cost $216,695,715) | &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES <br>(excluding investments purchased with cash collateral <br> from securities on loan)-100.07% <br>(Cost $216,695,715) | &nbsp;&nbsp; 249572446 |
| **Investments Purchased with Cash Collateral** <br>**from Securities on Loan** | **Investments Purchased with Cash Collateral** <br>**from Securities on Loan** | **Investments Purchased with Cash Collateral** <br>**from Securities on Loan** |
| **Money Market Funds-4.92%** | **Money Market Funds-4.92%** | **Money Market Funds-4.92%** |
| &nbsp;&nbsp;&nbsp; Invesco Private Government Fund, <br> 4.32%<sup>(d)(e)(f)</sup><br>| 3391814 | &nbsp;&nbsp; 3391814 |
| Invesco Private Prime Fund, 4.46%<sup>(d)(e)(f)</sup> | 8872262 | &nbsp;&nbsp; 8874036 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Investments Purchased with Cash Collateral from <br> Securities on Loan <br>(Cost $12,265,850) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Investments Purchased with Cash Collateral from <br> Securities on Loan <br>(Cost $12,265,850) | &nbsp;&nbsp; 12265850 |
| &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES-104.99% <br>(Cost $228,961,565) | &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES-104.99% <br>(Cost $228,961,565) | &nbsp;&nbsp; 261838296 |
| OTHER ASSETS LESS LIABILITIES-(4.99)% | OTHER ASSETS LESS LIABILITIES-(4.99)% | &nbsp;&nbsp; (12450437)<br>|
| NET ASSETS-100.00% | NET ASSETS-100.00% | &nbsp;&nbsp; $249387859 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Notes to Schedule of Investments: | Notes to Schedule of Investments: |
| <sup>(a)</sup> | Industry and/or sector classifications used in this report are generally according to the Global Industry Classification Standard, which was developed by and is <br> the exclusive property and a service mark of MSCI Inc. and Standard & Poor's.<br>|
| <sup>(b)</sup> | Non-income producing security. |
| <sup>(c)</sup> | All or a portion of this security was out on loan at July 31, 2025. |
| <sup>(d)</sup> | Affiliated holding. Affiliated holdings are investments in entities which are under common ownership or control of Invesco Ltd. or are investments in entities in <br> which the Fund owns 5% or more of the outstanding voting securities. The table below shows the Fund's transactions in, and earnings from, its investments in <br> affiliates for the three months ended July 31, 2025.<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Value** <br>**April 30, 2025**<br>| **Purchases** <br>**at Cost**<br>| **Proceeds** <br>**from Sales**<br>| **Change in** <br>**Unrealized** <br>**Appreciation**<br>| **Realized** <br>**Gain** <br>**(Loss)**<br>| **Value** <br>**July 31, 2025**<br>| **Dividend Income** |
| **Investments in Affiliated Money** <br> **Market Funds:**<br>|  |  |  |  |  |  |  |
| &nbsp;&nbsp; Invesco Government & Agency <br> Portfolio, Institutional Class<br>| &nbsp;&nbsp;&nbsp; $236618 | &nbsp;&nbsp;&nbsp; $607449 | &nbsp;&nbsp;&nbsp; $(575593)<br>| &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $268474 | &nbsp;&nbsp;&nbsp; $3478 |

---

See accompanying notes which are an integral part of this schedule.

------

**Invesco Building & Construction ETF (PKB)—(continued)**

July 31, 2025

*(Unaudited)*

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Value**<br> **April 30, 2025**<br>| **Purchases**<br> **at Cost**<br>| **Proceeds**<br> **from Sales**<br>| **Change in**<br> **Unrealized**<br> **Appreciation**<br>| **Realized**<br> **Gain**<br> **(Loss)**<br>| **Value**<br> **July 31, 2025**<br>| **Dividend Income** |
| **Investments Purchased with** <br> **Cash Collateral from Securities** <br> **on Loan:**<br>|  |  |  |  |  |  |  |
| &nbsp;&nbsp; Invesco Private Government Fund | &nbsp;&nbsp;&nbsp; $5653855 | &nbsp;&nbsp;&nbsp; $17484017 | &nbsp;&nbsp;&nbsp; $(19746058)<br>| &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $3391814 | &nbsp;&nbsp;&nbsp; $52,161<br> \*<br>|
| &nbsp;&nbsp; Invesco Private Prime Fund | &nbsp;&nbsp;&nbsp; 13752136 | &nbsp;&nbsp;&nbsp; 44251989 | &nbsp;&nbsp;&nbsp; (49130003)<br>| &nbsp;&nbsp;&nbsp; 735 | &nbsp;&nbsp;&nbsp; (821)<br>| &nbsp;&nbsp;&nbsp; 8874036 | &nbsp;&nbsp;&nbsp; 139,547<br> \*<br>|
| &nbsp;&nbsp; Total | &nbsp;&nbsp;&nbsp; $19642609 | &nbsp;&nbsp;&nbsp; $62343455 | &nbsp;&nbsp;&nbsp; $(69451654)<br>| &nbsp;&nbsp;&nbsp; $735 | &nbsp;&nbsp;&nbsp; $(821)<br>| &nbsp;&nbsp;&nbsp; $12534324 | &nbsp;&nbsp;&nbsp; $195186 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* Represents the income earned on the investment of cash collateral. Does not include rebates and fees paid to lending agent or premiums received from borrowers, if any.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(e)</sup> The rate shown is the 7-day SEC standardized yield as of July 31, 2025. <br> <sup>(f)</sup> The security has been segregated to satisfy the commitment to return the cash collateral received in securities lending transactions upon the borrower's return of the securities loaned.

The valuation policy and a listing of other significant accounting policies are available in the most recent shareholder report.

See accompanying notes which are an integral part of this schedule.

------

Schedule of Investments<sup>(a)</sup>

**Invesco Energy Exploration & Production ETF (PXE)**

July 31, 2025

*(Unaudited)*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Common Stocks & Other Equity Interests-99.94%** | **Common Stocks & Other Equity Interests-99.94%** | **Common Stocks & Other Equity Interests-99.94%** |
| **Gas Utilities-2.69%** | **Gas Utilities-2.69%** | **Gas Utilities-2.69%** |
| National Fuel Gas Co. | 21585 | &nbsp;&nbsp; $1873362 |
| **Integrated Oil & Gas-4.99%** | **Integrated Oil & Gas-4.99%** | **Integrated Oil & Gas-4.99%** |
| Occidental Petroleum Corp. | 79079 | &nbsp;&nbsp; 3474731 |
| **Oil & Gas Exploration & Production-74.12%** | **Oil & Gas Exploration & Production-74.12%** | **Oil & Gas Exploration & Production-74.12%** |
| Antero Resources Corp.<sup>(b)</sup> | 44691 | &nbsp;&nbsp; 1561057 |
| APA Corp.<sup>(c)</sup> | 103710 | &nbsp;&nbsp; 2000566 |
| California Resources Corp. | 42053 | &nbsp;&nbsp; 2026114 |
| Chord Energy Corp.<sup>(c)</sup> | 19695 | &nbsp;&nbsp; 2172949 |
| Civitas Resources, Inc.<sup>(c)</sup> | 62226 | &nbsp;&nbsp; 1889181 |
| CNX Resources Corp.<sup>(b)</sup> | 55891 | &nbsp;&nbsp; 1694056 |
| Coterra Energy, Inc. | 132391 | &nbsp;&nbsp; 3229016 |
| Crescent Energy Co., Class A | 206823 | &nbsp;&nbsp; 1911045 |
| Devon Energy Corp. | 104984 | &nbsp;&nbsp; 3487568 |
| EOG Resources, Inc. | 29589 | &nbsp;&nbsp; 3551272 |
| EQT Corp. | 58191 | &nbsp;&nbsp; 3127766 |
| Gulfport Energy Corp.<sup>(b)(c)</sup> | 9070 | &nbsp;&nbsp; 1579359 |
| HighPeak Energy, Inc.<sup>(c)</sup> | 180788 | &nbsp;&nbsp; 1802456 |
| Mach Natural Resources L.P. | 132980 | &nbsp;&nbsp; 2001349 |
| Magnolia Oil & Gas Corp., Class A | 81159 | &nbsp;&nbsp; 1933207 |
| Matador Resources Co.<sup>(c)</sup> | 40653 | &nbsp;&nbsp; 2027772 |
| Murphy Oil Corp.<sup>(c)</sup> | 83771 | &nbsp;&nbsp; 2078358 |
| Northern Oil and Gas, Inc.<sup>(c)</sup> | 65281 | &nbsp;&nbsp; 1838313 |
| Ovintiv, Inc. | 49144 | &nbsp;&nbsp; 2023750 |
| Permian Resources Corp. | 139924 | &nbsp;&nbsp; 1981324 |
| Range Resources Corp. | 45094 | &nbsp;&nbsp; 1655852 |
| SM Energy Co. | 75335 | &nbsp;&nbsp; 2078493 |
| Talos Energy, Inc.<sup>(b)(c)</sup> | 224123 | &nbsp;&nbsp; 1916252 |
| Vitesse Energy, Inc.<sup>(c)</sup> | 84046 | &nbsp;&nbsp; 2011221 |
|  |  | &nbsp;&nbsp; 51578296 |
| **Oil & Gas Refining & Marketing-18.14%** | **Oil & Gas Refining & Marketing-18.14%** | **Oil & Gas Refining & Marketing-18.14%** |
| HF Sinclair Corp. | 49050 | &nbsp;&nbsp; 2155257 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Oil & Gas Refining & Marketing-(continued)** | **Oil & Gas Refining & Marketing-(continued)** | **Oil & Gas Refining & Marketing-(continued)** |
| Marathon Petroleum Corp. | 20275 | &nbsp;&nbsp; $3450602 |
| Phillips 66 | 28788 | &nbsp;&nbsp; 3557621 |
| Valero Energy Corp. | 25179 | &nbsp;&nbsp; 3457329 |
|  |  | &nbsp;&nbsp; 12620809 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks & Other Equity Interests <br>(Cost $73,197,166) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks & Other Equity Interests <br>(Cost $73,197,166) | &nbsp;&nbsp; 69547198 |
| **Money Market Funds-0.16%** | **Money Market Funds-0.16%** | **Money Market Funds-0.16%** |
| &nbsp;&nbsp;&nbsp; Invesco Government & Agency Portfolio, <br> Institutional Class, 4.25%<sup>(d)(e)</sup> <br>(Cost $113,173)<br>| 113173 | &nbsp;&nbsp; 113173 |
| &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES <br>(excluding investments purchased with cash collateral <br> from securities on loan)-100.10% <br>(Cost $73,310,339) | &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES <br>(excluding investments purchased with cash collateral <br> from securities on loan)-100.10% <br>(Cost $73,310,339) | &nbsp;&nbsp; 69660371 |
| **Investments Purchased with Cash Collateral** <br>**from Securities on Loan** | **Investments Purchased with Cash Collateral** <br>**from Securities on Loan** | **Investments Purchased with Cash Collateral** <br>**from Securities on Loan** |
| **Money Market Funds-15.96%** | **Money Market Funds-15.96%** | **Money Market Funds-15.96%** |
| &nbsp;&nbsp;&nbsp; Invesco Private Government Fund, <br> 4.32%<sup>(d)(e)(f)</sup><br>| 3089545 | &nbsp;&nbsp; 3089545 |
| Invesco Private Prime Fund, 4.46%<sup>(d)(e)(f)</sup> | 8014239 | &nbsp;&nbsp; 8015842 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Investments Purchased with Cash Collateral from <br> Securities on Loan <br>(Cost $11,105,387) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Investments Purchased with Cash Collateral from <br> Securities on Loan <br>(Cost $11,105,387) | &nbsp;&nbsp; 11105387 |
| &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES-116.06% <br>(Cost $84,415,726) | &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES-116.06% <br>(Cost $84,415,726) | &nbsp;&nbsp; 80765758 |
| OTHER ASSETS LESS LIABILITIES-(16.06)% | OTHER ASSETS LESS LIABILITIES-(16.06)% | &nbsp;&nbsp; (11178139)<br>|
| NET ASSETS-100.00% | NET ASSETS-100.00% | &nbsp;&nbsp; $69587619 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Notes to Schedule of Investments: | Notes to Schedule of Investments: |
| <sup>(a)</sup> | Industry and/or sector classifications used in this report are generally according to the Global Industry Classification Standard, which was developed by and is <br> the exclusive property and a service mark of MSCI Inc. and Standard & Poor's.<br>|
| <sup>(b)</sup> | Non-income producing security. |
| <sup>(c)</sup> | All or a portion of this security was out on loan at July 31, 2025. |
| <sup>(d)</sup> | Affiliated holding. Affiliated holdings are investments in entities which are under common ownership or control of Invesco Ltd. or are investments in entities in <br> which the Fund owns 5% or more of the outstanding voting securities. The table below shows the Fund's transactions in, and earnings from, its investments in <br> affiliates for the three months ended July 31, 2025.<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Value** <br>**April 30, 2025**<br>| **Purchases** <br>**at Cost**<br>| **Proceeds** <br>**from Sales**<br>| **Change in** <br>**Unrealized** <br>**Appreciation**<br>| **Realized** <br>**Gain** <br>**(Loss)**<br>| **Value** <br>**July 31, 2025**<br>| **Dividend Income** |
| **Investments in Affiliated Money** <br> **Market Funds:**<br>|  |  |  |  |  |  |  |
| &nbsp;&nbsp; Invesco Government & Agency <br> Portfolio, Institutional Class<br>| &nbsp;&nbsp;&nbsp; $109484 | &nbsp;&nbsp;&nbsp; $1012124 | &nbsp;&nbsp;&nbsp; $(1008435)<br>| &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $113173 | &nbsp;&nbsp;&nbsp; $1182 |
| **Investments Purchased with** <br> **Cash Collateral from Securities** <br> **on Loan:**<br>|  |  |  |  |  |  |  |
| &nbsp;&nbsp; Invesco Private Government Fund | &nbsp;&nbsp;&nbsp; 4995382 | &nbsp;&nbsp;&nbsp; 15250602 | &nbsp;&nbsp;&nbsp; (17156439)<br>| &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; 3089545 | &nbsp;&nbsp;&nbsp; 42,082<br> \*<br>|
| &nbsp;&nbsp; Invesco Private Prime Fund | &nbsp;&nbsp;&nbsp; 13014651 | &nbsp;&nbsp;&nbsp; 40360151 | &nbsp;&nbsp;&nbsp; (45359044)<br>| &nbsp;&nbsp;&nbsp; 512 | &nbsp;&nbsp;&nbsp; (428)<br>| &nbsp;&nbsp;&nbsp; 8015842 | &nbsp;&nbsp;&nbsp; 114,881<br> \*<br>|
| &nbsp;&nbsp; Total | &nbsp;&nbsp;&nbsp; $18119517 | &nbsp;&nbsp;&nbsp; $56622877 | &nbsp;&nbsp;&nbsp; $(63523918)<br>| &nbsp;&nbsp;&nbsp; $512 | &nbsp;&nbsp;&nbsp; $(428)<br>| &nbsp;&nbsp;&nbsp; $11218560 | &nbsp;&nbsp;&nbsp; $158145 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* Represents the income earned on the investment of cash collateral. Does not include rebates and fees paid to lending agent or premiums received from borrowers, if any.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

See accompanying notes which are an integral part of this schedule.

------

**Invesco Energy Exploration & Production ETF (PXE)—(continued)**

July 31, 2025

*(Unaudited)*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(e)</sup> The rate shown is the 7-day SEC standardized yield as of July 31, 2025. <br> <sup>(f)</sup> The security has been segregated to satisfy the commitment to return the cash collateral received in securities lending transactions upon the borrower's return of the securities loaned.

The valuation policy and a listing of other significant accounting policies are available in the most recent shareholder report.

See accompanying notes which are an integral part of this schedule.

------

Schedule of Investments<sup>(a)</sup>

**Invesco Food & Beverage ETF (PBJ)**

July 31, 2025

*(Unaudited)*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Common Stocks & Other Equity Interests-99.92%** | **Common Stocks & Other Equity Interests-99.92%** | **Common Stocks & Other Equity Interests-99.92%** |
| **Agricultural Products & Services-2.96%** | **Agricultural Products & Services-2.96%** | **Agricultural Products & Services-2.96%** |
| Fresh Del Monte Produce, Inc.<sup>(b)</sup> | 75314 | &nbsp;&nbsp; $2831053 |
| **Brewers-2.46%** | **Brewers-2.46%** | **Brewers-2.46%** |
| Molson Coors Beverage Co., Class B<sup>(b)</sup> | 48218 | &nbsp;&nbsp; 2349181 |
| **Fertilizers & Agricultural Chemicals-5.13%** | **Fertilizers & Agricultural Chemicals-5.13%** | **Fertilizers & Agricultural Chemicals-5.13%** |
| Corteva, Inc. | 68036 | &nbsp;&nbsp; 4907437 |
| **Food Distributors-13.89%** | **Food Distributors-13.89%** | **Food Distributors-13.89%** |
| Chefs' Warehouse, Inc. (The)<sup>(b)(c)</sup> | 41122 | &nbsp;&nbsp; 2819324 |
| Sysco Corp. | 66279 | &nbsp;&nbsp; 5275809 |
| United Natural Foods, Inc.<sup>(b)(c)</sup> | 85778 | &nbsp;&nbsp; 2370904 |
| US Foods Holding Corp.<sup>(c)</sup> | 33681 | &nbsp;&nbsp; 2806638 |
|  |  | &nbsp;&nbsp; 13272675 |
| **Food Retail-20.38%** | **Food Retail-20.38%** | **Food Retail-20.38%** |
| Albertson's Cos., Inc., Class A<sup>(b)</sup> | 117699 | &nbsp;&nbsp; 2262175 |
| Ingles Markets, Inc., Class A<sup>(b)</sup> | 42344 | &nbsp;&nbsp; 2664708 |
| Kroger Co. (The) | 70623 | &nbsp;&nbsp; 4950672 |
| Maplebear, Inc.<sup>(b)(c)</sup> | 55528 | &nbsp;&nbsp; 2663678 |
| Natural Grocers by Vitamin Cottage, Inc.<sup>(b)</sup> | 54498 | &nbsp;&nbsp; 2064929 |
| Sprouts Farmers Market, Inc.<sup>(c)</sup> | 15900 | &nbsp;&nbsp; 2409486 |
| Weis Markets, Inc.<sup>(b)</sup> | 34075 | &nbsp;&nbsp; 2467371 |
|  |  | &nbsp;&nbsp; 19483019 |
| **Packaged Foods & Meats-26.98%** | **Packaged Foods & Meats-26.98%** | **Packaged Foods & Meats-26.98%** |
| Adecoagro S.A. (Brazil)<sup>(b)</sup> | 275901 | &nbsp;&nbsp; 2535530 |
| Cal-Maine Foods, Inc. | 27351 | &nbsp;&nbsp; 3039790 |
| J.M. Smucker Co. (The) | 22929 | &nbsp;&nbsp; 2461199 |
| Mission Produce, Inc.<sup>(b)(c)</sup> | 249552 | &nbsp;&nbsp; 3079471 |
| Mondelez International, Inc., Class A | 71603 | &nbsp;&nbsp; 4631998 |
| Nomad Foods Ltd. (United Kingdom)<sup>(b)</sup> | 149300 | &nbsp;&nbsp; 2514212 |
| Pilgrim's Pride Corp. | 54079 | &nbsp;&nbsp; 2562804 |
| Post Holdings, Inc.<sup>(b)(c)</sup> | 23796 | &nbsp;&nbsp; 2517855 |
| Tyson Foods, Inc., Class A | 46809 | &nbsp;&nbsp; 2448111 |
|  |  | &nbsp;&nbsp; 25790970 |
| **Restaurants-13.51%** | **Restaurants-13.51%** | **Restaurants-13.51%** |
| Domino's Pizza, Inc. | 5392 | &nbsp;&nbsp; 2497628 |
| DoorDash, Inc., Class A<sup>(c)</sup> | 23378 | &nbsp;&nbsp; 5850345 |
| McDonald's Corp. | 15210 | &nbsp;&nbsp; 4564065 |
|  |  | &nbsp;&nbsp; 12912038 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Soft Drinks & Non-alcoholic Beverages-14.61%** | **Soft Drinks & Non-alcoholic Beverages-14.61%** | **Soft Drinks & Non-alcoholic Beverages-14.61%** |
| Coca-Cola Consolidated, Inc. | 23132 | &nbsp;&nbsp; $2585001 |
| Keurig Dr Pepper, Inc. | 145727 | &nbsp;&nbsp; 4757986 |
| Monster Beverage Corp.<sup>(c)</sup> | 74565 | &nbsp;&nbsp; 4380694 |
| Primo Brands Corp.<sup>(b)</sup> | 81100 | &nbsp;&nbsp; 2239171 |
|  |  | &nbsp;&nbsp; 13962852 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks & Other Equity Interests <br>(Cost $87,790,223) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks & Other Equity Interests <br>(Cost $87,790,223) | &nbsp;&nbsp; 95509225 |
| **Money Market Funds-0.24%** | **Money Market Funds-0.24%** | **Money Market Funds-0.24%** |
| &nbsp;&nbsp;&nbsp; Invesco Government & Agency Portfolio, <br> Institutional Class, 4.25%<sup>(d)(e)</sup> <br>(Cost $232,964)<br>| 232964 | &nbsp;&nbsp; 232964 |
| &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES <br>(excluding investments purchased with cash collateral <br> from securities on loan)-100.16% <br>(Cost $88,023,187) | &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES <br>(excluding investments purchased with cash collateral <br> from securities on loan)-100.16% <br>(Cost $88,023,187) | &nbsp;&nbsp; 95742189 |
| **Investments Purchased with Cash Collateral** <br>**from Securities on Loan** | **Investments Purchased with Cash Collateral** <br>**from Securities on Loan** | **Investments Purchased with Cash Collateral** <br>**from Securities on Loan** |
| **Money Market Funds-15.18%** | **Money Market Funds-15.18%** | **Money Market Funds-15.18%** |
| &nbsp;&nbsp;&nbsp; Invesco Private Government Fund, <br> 4.32%<sup>(d)(e)(f)</sup><br>| 4037906 | &nbsp;&nbsp; 4037906 |
| Invesco Private Prime Fund, 4.46%<sup>(d)(e)(f)</sup> | 10468946 | &nbsp;&nbsp; 10471040 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Investments Purchased with Cash Collateral from <br> Securities on Loan <br>(Cost $14,508,946) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Investments Purchased with Cash Collateral from <br> Securities on Loan <br>(Cost $14,508,946) | &nbsp;&nbsp; 14508946 |
| &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES-115.34% <br>(Cost $102,532,133) | &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES-115.34% <br>(Cost $102,532,133) | &nbsp;&nbsp; 110251135 |
| OTHER ASSETS LESS LIABILITIES-(15.34)% | OTHER ASSETS LESS LIABILITIES-(15.34)% | &nbsp;&nbsp; (14662949)<br>|
| NET ASSETS-100.00% | NET ASSETS-100.00% | &nbsp;&nbsp; $95588186 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Notes to Schedule of Investments: | Notes to Schedule of Investments: |
| <sup>(a)</sup> | Industry and/or sector classifications used in this report are generally according to the Global Industry Classification Standard, which was developed by and is <br> the exclusive property and a service mark of MSCI Inc. and Standard & Poor's.<br>|
| <sup>(b)</sup> | All or a portion of this security was out on loan at July 31, 2025. |
| <sup>(c)</sup> | Non-income producing security. |
| <sup>(d)</sup> | Affiliated holding. Affiliated holdings are investments in entities which are under common ownership or control of Invesco Ltd. or are investments in entities in <br> which the Fund owns 5% or more of the outstanding voting securities. The table below shows the Fund's transactions in, and earnings from, its investments in <br> affiliates for the three months ended July 31, 2025.<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Value** <br>**April 30, 2025**<br>| **Purchases** <br>**at Cost**<br>| **Proceeds** <br>**from Sales**<br>| **Change in** <br>**Unrealized** <br>**Appreciation**<br>| **Realized** <br>**Gain**<br>| **Value** <br>**July 31, 2025**<br>| **Dividend Income** |
| **Investments in Affiliated Money** <br> **Market Funds:**<br>|  |  |  |  |  |  |  |
| &nbsp;&nbsp; Invesco Government & Agency <br> Portfolio, Institutional Class<br>| &nbsp;&nbsp;&nbsp; $201332 | &nbsp;&nbsp;&nbsp; $1012703 | &nbsp;&nbsp;&nbsp; $(981071)<br>| &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $232964 | &nbsp;&nbsp;&nbsp; $1971 |

---

See accompanying notes which are an integral part of this schedule.

------

**Invesco Food & Beverage ETF (PBJ)—(continued)**

July 31, 2025

*(Unaudited)*

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Value**<br> **April 30, 2025**<br>| **Purchases**<br> **at Cost**<br>| **Proceeds**<br> **from Sales**<br>| **Change in**<br> **Unrealized**<br> **Appreciation**<br>| **Realized**<br> **Gain**<br>| **Value**<br> **July 31, 2025**<br>| **Dividend Income** |
| **Investments Purchased with** <br> **Cash Collateral from Securities** <br> **on Loan:**<br>|  |  |  |  |  |  |  |
| &nbsp;&nbsp; Invesco Private Government Fund | &nbsp;&nbsp;&nbsp; $3285869 | &nbsp;&nbsp;&nbsp; $19892494 | &nbsp;&nbsp;&nbsp; $(19140457)<br>| &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $4037906 | &nbsp;&nbsp;&nbsp; $36,881<br> \*<br>|
| &nbsp;&nbsp; Invesco Private Prime Fund | &nbsp;&nbsp;&nbsp; 8543830 | &nbsp;&nbsp;&nbsp; 40496359 | &nbsp;&nbsp;&nbsp; (38569410)<br>| &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; 261 | &nbsp;&nbsp;&nbsp; 10471040 | &nbsp;&nbsp;&nbsp; 98,298<br> \*<br>|
| &nbsp;&nbsp; Total | &nbsp;&nbsp;&nbsp; $12031031 | &nbsp;&nbsp;&nbsp; $61401556 | &nbsp;&nbsp;&nbsp; $(58690938)<br>| &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $261 | &nbsp;&nbsp;&nbsp; $14741910 | &nbsp;&nbsp;&nbsp; $137150 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* Represents the income earned on the investment of cash collateral. Does not include rebates and fees paid to lending agent or premiums received from borrowers, if any.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(e)</sup> The rate shown is the 7-day SEC standardized yield as of July 31, 2025. <br> <sup>(f)</sup> The security has been segregated to satisfy the commitment to return the cash collateral received in securities lending transactions upon the borrower's return of the securities loaned.

The valuation policy and a listing of other significant accounting policies are available in the most recent shareholder report.

See accompanying notes which are an integral part of this schedule.

------

Schedule of Investments<sup>(a)</sup>

**Invesco Leisure and Entertainment ETF (PEJ)**

July 31, 2025

*(Unaudited)*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Common Stocks & Other Equity Interests-99.94%** | **Common Stocks & Other Equity Interests-99.94%** | **Common Stocks & Other Equity Interests-99.94%** |
| **Broadcasting-2.53%** | **Broadcasting-2.53%** | **Broadcasting-2.53%** |
| Fox Corp., Class A | 156828 | &nbsp;&nbsp; $8744729 |
| **Casinos & Gaming-15.10%** | **Casinos & Gaming-15.10%** | **Casinos & Gaming-15.10%** |
| Accel Entertainment, Inc.<sup>(b)</sup> | 774425 | &nbsp;&nbsp; 9959105 |
| Boyd Gaming Corp.<sup>(c)</sup> | 116154 | &nbsp;&nbsp; 9861475 |
| Monarch Casino & Resort, Inc.<sup>(c)</sup> | 103880 | &nbsp;&nbsp; 10695485 |
| Sportradar Group AG (Switzerland)<sup>(b)</sup> | 367225 | &nbsp;&nbsp; 10858843 |
| Super Group (SGHC) Ltd. (Guernsey) | 1000115 | &nbsp;&nbsp; 10751236 |
|  |  | &nbsp;&nbsp; 52126144 |
| **Food Distributors-7.84%** | **Food Distributors-7.84%** | **Food Distributors-7.84%** |
| Sysco Corp. | 221965 | &nbsp;&nbsp; 17668414 |
| US Foods Holding Corp.<sup>(b)</sup> | 112784 | &nbsp;&nbsp; 9398291 |
|  |  | &nbsp;&nbsp; 27066705 |
| **Food Retail-2.59%** | **Food Retail-2.59%** | **Food Retail-2.59%** |
| Maplebear, Inc.<sup>(b)(c)</sup> | 185996 | &nbsp;&nbsp; 8922228 |
| **Hotels, Resorts & Cruise Lines-13.24%** | **Hotels, Resorts & Cruise Lines-13.24%** | **Hotels, Resorts & Cruise Lines-13.24%** |
| Booking Holdings, Inc. | 2943 | &nbsp;&nbsp; 16198449 |
| Expedia Group, Inc. | 53042 | &nbsp;&nbsp; 9559229 |
| Royal Caribbean Cruises Ltd.<sup>(c)</sup> | 62784 | &nbsp;&nbsp; 19957150 |
|  |  | &nbsp;&nbsp; 45714828 |
| **Leisure Facilities-2.53%** | **Leisure Facilities-2.53%** | **Leisure Facilities-2.53%** |
| Life Time Group Holdings, Inc.<sup>(b)(c)</sup> | 303852 | &nbsp;&nbsp; 8726629 |
| **Movies & Entertainment-16.28%** | **Movies & Entertainment-16.28%** | **Movies & Entertainment-16.28%** |
| Liberty Media Corp.-Liberty Formula One<sup>(b)(c)</sup> | 90496 | &nbsp;&nbsp; 9081274 |
| Live Nation Entertainment, Inc.<sup>(b)(c)</sup> | 112175 | &nbsp;&nbsp; 16568247 |
| &nbsp;&nbsp;&nbsp; Madison Square Garden Sports Corp., <br> Class A<sup>(b)(c)</sup><br>| 45750 | &nbsp;&nbsp; 9246075 |
| TKO Group Holdings, Inc. | 55055 | &nbsp;&nbsp; 9249791 |
| Warner Bros. Discovery, Inc.<sup>(b)</sup> | 916335 | &nbsp;&nbsp; 12068132 |
|  |  | &nbsp;&nbsp; 56213519 |
| **Passenger Airlines-10.72%** | **Passenger Airlines-10.72%** | **Passenger Airlines-10.72%** |
| Copa Holdings S.A., Class A (Panama)<sup>(c)</sup> | 80526 | &nbsp;&nbsp; 8911007 |
| SkyWest, Inc.<sup>(b)</sup> | 86091 | &nbsp;&nbsp; 9983113 |
| United Airlines Holdings, Inc.<sup>(b)</sup> | 205214 | &nbsp;&nbsp; 18122448 |
|  |  | &nbsp;&nbsp; 37016568 |
| **Passenger Ground Transportation-2.18%** | **Passenger Ground Transportation-2.18%** | **Passenger Ground Transportation-2.18%** |
| Lyft, Inc., Class A<sup>(b)</sup> | 536211 | &nbsp;&nbsp; 7539127 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Restaurants-26.93%** | **Restaurants-26.93%** | **Restaurants-26.93%** |
| BJ's Restaurants, Inc.<sup>(b)(c)</sup> | 196874 | &nbsp;&nbsp; $6975246 |
| Brinker International, Inc.<sup>(b)</sup> | 52995 | &nbsp;&nbsp; 8352012 |
| Cheesecake Factory, Inc. (The)<sup>(c)</sup> | 157905 | &nbsp;&nbsp; 10091709 |
| Cracker Barrel Old Country Store, Inc.<sup>(c)</sup> | 147946 | &nbsp;&nbsp; 9172652 |
| Darden Restaurants, Inc. | 74951 | &nbsp;&nbsp; 15115368 |
| Domino's Pizza, Inc. | 18058 | &nbsp;&nbsp; 8364646 |
| DoorDash, Inc., Class A<sup>(b)</sup> | 78304 | &nbsp;&nbsp; 19595576 |
| McDonald's Corp. | 50940 | &nbsp;&nbsp; 15285566 |
|  |  | &nbsp;&nbsp; 92952775 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks & Other Equity Interests <br>(Cost $299,252,410) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks & Other Equity Interests <br>(Cost $299,252,410) | &nbsp;&nbsp; 345023252 |
| **Money Market Funds-0.11%** | **Money Market Funds-0.11%** | **Money Market Funds-0.11%** |
| &nbsp;&nbsp;&nbsp; Invesco Government & Agency Portfolio, <br> Institutional Class, 4.25%<sup>(d)(e)</sup> <br>(Cost $371,687)<br>| 371687 | &nbsp;&nbsp; 371687 |
| &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES <br>(excluding investments purchased with cash collateral <br> from securities on loan)-100.05% <br>(Cost $299,624,097) | &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES <br>(excluding investments purchased with cash collateral <br> from securities on loan)-100.05% <br>(Cost $299,624,097) | &nbsp;&nbsp; 345394939 |
| **Investments Purchased with Cash Collateral** <br>**from Securities on Loan** | **Investments Purchased with Cash Collateral** <br>**from Securities on Loan** | **Investments Purchased with Cash Collateral** <br>**from Securities on Loan** |
| **Money Market Funds-12.74%** | **Money Market Funds-12.74%** | **Money Market Funds-12.74%** |
| &nbsp;&nbsp;&nbsp; Invesco Private Government Fund, <br> 4.32%<sup>(d)(e)(f)</sup><br>| 12189347 | &nbsp;&nbsp; 12189347 |
| Invesco Private Prime Fund, 4.46%<sup>(d)(e)(f)</sup> | 31782117 | &nbsp;&nbsp; 31788473 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Investments Purchased with Cash Collateral from <br> Securities on Loan <br>(Cost $43,977,820) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Investments Purchased with Cash Collateral from <br> Securities on Loan <br>(Cost $43,977,820) | &nbsp;&nbsp; 43977820 |
| &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES-112.79% <br>(Cost $343,601,917) | &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES-112.79% <br>(Cost $343,601,917) | &nbsp;&nbsp; 389372759 |
| OTHER ASSETS LESS LIABILITIES-(12.79)% | OTHER ASSETS LESS LIABILITIES-(12.79)% | &nbsp;&nbsp; (44143314)<br>|
| NET ASSETS-100.00% | NET ASSETS-100.00% | &nbsp;&nbsp; $345229445 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Notes to Schedule of Investments: | Notes to Schedule of Investments: |
| <sup>(a)</sup> | Industry and/or sector classifications used in this report are generally according to the Global Industry Classification Standard, which was developed by and is <br> the exclusive property and a service mark of MSCI Inc. and Standard & Poor's.<br>|
| <sup>(b)</sup> | Non-income producing security. |
| <sup>(c)</sup> | All or a portion of this security was out on loan at July 31, 2025. |
| <sup>(d)</sup> | Affiliated holding. Affiliated holdings are investments in entities which are under common ownership or control of Invesco Ltd. or are investments in entities in <br> which the Fund owns 5% or more of the outstanding voting securities. The table below shows the Fund's transactions in, and earnings from, its investments in <br> affiliates for the three months ended July 31, 2025.<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Value** <br>**April 30, 2025**<br>| **Purchases** <br>**at Cost**<br>| **Proceeds** <br>**from Sales**<br>| **Change in** <br>**Unrealized** <br>**Appreciation**<br>| **Realized** <br>**Gain** <br>**(Loss)**<br>| **Value** <br>**July 31, 2025**<br>| **Dividend Income** |
| **Investments in Affiliated** <br> **Money Market Funds:**<br>|  |  |  |  |  |  |  |
| &nbsp;&nbsp; Invesco Government & Agency <br> Portfolio, Institutional Class<br>| &nbsp;&nbsp;&nbsp; $265533 | &nbsp;&nbsp;&nbsp; $521982 | &nbsp;&nbsp;&nbsp; $(415828)<br>| &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $371687 | &nbsp;&nbsp;&nbsp; $3108 |

---

See accompanying notes which are an integral part of this schedule.

------

**Invesco Leisure and Entertainment ETF (PEJ)—(continued)**

July 31, 2025

*(Unaudited)*

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Value**<br> **April 30, 2025**<br>| **Purchases**<br> **at Cost**<br>| **Proceeds**<br> **from Sales**<br>| **Change in**<br> **Unrealized**<br> **Appreciation**<br>| **Realized**<br> **Gain**<br> **(Loss)**<br>| **Value**<br> **July 31, 2025**<br>| **Dividend Income** |
| **Investments Purchased with** <br> **Cash Collateral from** <br> **Securities on Loan:**<br>|  |  |  |  |  |  |  |
| &nbsp;&nbsp; Invesco Private Government <br> Fund<br>| &nbsp;&nbsp;&nbsp; $28133782 | &nbsp;&nbsp;&nbsp; $46108455 | &nbsp;&nbsp;&nbsp; $(62052890)<br>| &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $12189347 | &nbsp;&nbsp;&nbsp; $147,200<br> \*<br>|
| &nbsp;&nbsp; Invesco Private Prime Fund | &nbsp;&nbsp;&nbsp; 52467864 | &nbsp;&nbsp;&nbsp; 125000416 | &nbsp;&nbsp;&nbsp; (145679640)<br>| &nbsp;&nbsp;&nbsp; 317 | &nbsp;&nbsp;&nbsp; (484)<br>| &nbsp;&nbsp;&nbsp; 31788473 | &nbsp;&nbsp;&nbsp; 401,774<br> \*<br>|
| &nbsp;&nbsp; Total | &nbsp;&nbsp;&nbsp; $80867179 | &nbsp;&nbsp;&nbsp; $171630853 | &nbsp;&nbsp;&nbsp; $(208148358)<br>| &nbsp;&nbsp;&nbsp; $317 | &nbsp;&nbsp;&nbsp; $(484)<br>| &nbsp;&nbsp;&nbsp; $44349507 | &nbsp;&nbsp;&nbsp; $552082 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* Represents the income earned on the investment of cash collateral. Does not include rebates and fees paid to lending agent or premiums received from borrowers, if any.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(e)</sup> The rate shown is the 7-day SEC standardized yield as of July 31, 2025. <br> <sup>(f)</sup> The security has been segregated to satisfy the commitment to return the cash collateral received in securities lending transactions upon the borrower's return of the securities loaned.

The valuation policy and a listing of other significant accounting policies are available in the most recent shareholder report.

See accompanying notes which are an integral part of this schedule.

------

Schedule of Investments<sup>(a)</sup>

**Invesco Next Gen Connectivity ETF (KNCT)**

July 31, 2025

*(Unaudited)*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Common Stocks & Other Equity Interests-99.84%** | **Common Stocks & Other Equity Interests-99.84%** | **Common Stocks & Other Equity Interests-99.84%** |
| **Application Software-5.08%** | **Application Software-5.08%** | **Application Software-5.08%** |
| Cadence Design Systems, Inc.<sup>(b)(c)</sup> | 1404 | &nbsp;&nbsp; $511856 |
| Confluent, Inc., Class A<sup>(b)</sup> | 1744 | &nbsp;&nbsp; 30912 |
| Datadog, Inc., Class A<sup>(b)</sup> | 1964 | &nbsp;&nbsp; 274921 |
| DocuSign, Inc.<sup>(b)</sup> | 1234 | &nbsp;&nbsp; 93340 |
| Dynatrace, Inc.<sup>(b)(c)</sup> | 1827 | &nbsp;&nbsp; 96119 |
| Nutanix, Inc., Class A<sup>(b)</sup> | 1625 | &nbsp;&nbsp; 122151 |
| Synopsys, Inc.<sup>(b)</sup> | 922 | &nbsp;&nbsp; 584059 |
|  |  | &nbsp;&nbsp; 1713358 |
| **Cable & Satellite-1.98%** | **Cable & Satellite-1.98%** | **Cable & Satellite-1.98%** |
| Charter Communications, Inc., Class A<sup>(b)</sup> | 569 | &nbsp;&nbsp; 153266 |
| Comcast Corp., Class A | 14027 | &nbsp;&nbsp; 466117 |
| Liberty Broadband Corp., Class C<sup>(b)</sup> | 750 | &nbsp;&nbsp; 45990 |
|  |  | &nbsp;&nbsp; 665373 |
| **Communications Equipment-9.68%** | **Communications Equipment-9.68%** | **Communications Equipment-9.68%** |
| Accton Technology Corp. (Taiwan) | 3144 | &nbsp;&nbsp; 92856 |
| Arista Networks, Inc.<sup>(b)</sup> | 6556 | &nbsp;&nbsp; 807830 |
| Ciena Corp.<sup>(b)(c)</sup> | 866 | &nbsp;&nbsp; 80399 |
| Cisco Systems, Inc. | 22497 | &nbsp;&nbsp; 1531596 |
| F5, Inc.<sup>(b)</sup> | 350 | &nbsp;&nbsp; 109697 |
| Motorola Solutions, Inc. | 876 | &nbsp;&nbsp; 384547 |
| Nokia OYJ (Finland) | 31259 | &nbsp;&nbsp; 127765 |
| &nbsp;&nbsp;&nbsp; Telefonaktiebolaget LM Ericsson, Class B <br> (Sweden)<sup>(c)</sup><br>| 17628 | &nbsp;&nbsp; 128429 |
|  |  | &nbsp;&nbsp; 3263119 |
| **Construction & Engineering-0.13%** | **Construction & Engineering-0.13%** | **Construction & Engineering-0.13%** |
| Dycom Industries, Inc.<sup>(b)(c)</sup> | 158 | &nbsp;&nbsp; 42472 |
| **Data Center REITs-2.41%** | **Data Center REITs-2.41%** | **Data Center REITs-2.41%** |
| Digital Realty Trust, Inc. | 1933 | &nbsp;&nbsp; 341059 |
| Equinix, Inc. | 600 | &nbsp;&nbsp; 471102 |
|  |  | &nbsp;&nbsp; 812161 |
| **Electrical Components & Equipment-0.33%** | **Electrical Components & Equipment-0.33%** | **Electrical Components & Equipment-0.33%** |
| Fujikura Ltd. (Japan) | 1641 | &nbsp;&nbsp; 111621 |
| **Electronic Components-1.93%** | **Electronic Components-1.93%** | **Electronic Components-1.93%** |
| Amphenol Corp., Class A | 4674 | &nbsp;&nbsp; 497828 |
| Coherent Corp.<sup>(b)</sup> | 947 | &nbsp;&nbsp; 101897 |
| Largan Precision Co. Ltd. (Taiwan) | 653 | &nbsp;&nbsp; 51217 |
|  |  | &nbsp;&nbsp; 650942 |
| **Electronic Equipment & Instruments-0.35%** | **Electronic Equipment & Instruments-0.35%** | **Electronic Equipment & Instruments-0.35%** |
| Keysight Technologies, Inc.<sup>(b)</sup> | 723 | &nbsp;&nbsp; 118507 |
| **Electronic Manufacturing Services-0.89%** | **Electronic Manufacturing Services-0.89%** | **Electronic Manufacturing Services-0.89%** |
| TE Connectivity PLC (Switzerland) | 1450 | &nbsp;&nbsp; 298337 |
| **Integrated Telecommunication Services-13.54%** | **Integrated Telecommunication Services-13.54%** | **Integrated Telecommunication Services-13.54%** |
| AT&T, Inc. | 43503 | &nbsp;&nbsp; 1192417 |
| BCE, Inc. (Canada)<sup>(c)</sup> | 2346 | &nbsp;&nbsp; 54843 |
| BT Group PLC (United Kingdom)<sup>(c)</sup> | 26159 | &nbsp;&nbsp; 71587 |
| Cellnex Telecom S.A. (Spain)<sup>(d)</sup> | 2772 | &nbsp;&nbsp; 98110 |
| China Tower Corp. Ltd., H Shares (China)<sup>(d)</sup> | 25498 | &nbsp;&nbsp; 35680 |
| Chunghwa Telecom Co. Ltd. (Taiwan) | 13108 | &nbsp;&nbsp; 56643 |
| Deutsche Telekom AG (Germany) | 14263 | &nbsp;&nbsp; 513057 |
| Elisa OYJ (Finland) | 917 | &nbsp;&nbsp; 47321 |
| Frontier Communications Parent, Inc.<sup>(b)</sup> | 1442 | &nbsp;&nbsp; 52979 |
| NTT, Inc. (Japan) | 75222 | &nbsp;&nbsp; 76118 |
| Orange S.A. (France) | 7872 | &nbsp;&nbsp; 120093 |
| PT Telkom Indonesia (Persero) Tbk (Indonesia) | 267300 | &nbsp;&nbsp; 46937 |
| Swisscom AG (Switzerland) | 87 | &nbsp;&nbsp; 60466 |
| Telefonica S.A. (Spain)<sup>(c)</sup> | 24196 | &nbsp;&nbsp; 125237 |
| Telenor ASA (Norway) | 3358 | &nbsp;&nbsp; 51741 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Integrated Telecommunication Services-(continued)** | **Integrated Telecommunication Services-(continued)** | **Integrated Telecommunication Services-(continued)** |
| Telia Co. AB (Sweden)<sup>(c)</sup> | 11773 | &nbsp;&nbsp; $41704 |
| Telstra Group Ltd. (Australia) | 22122 | &nbsp;&nbsp; 70636 |
| TELUS Corp. (Canada) | 4308 | &nbsp;&nbsp; 69549 |
| T-Mobile US, Inc. | 2823 | &nbsp;&nbsp; 673031 |
| Verizon Communications, Inc. | 25826 | &nbsp;&nbsp; 1104320 |
|  |  | &nbsp;&nbsp; 4562469 |
| **Internet Services & Infrastructure-2.02%** | **Internet Services & Infrastructure-2.02%** | **Internet Services & Infrastructure-2.02%** |
| Akamai Technologies, Inc.<sup>(b)</sup> | 891 | &nbsp;&nbsp; 67992 |
| Cloudflare, Inc., Class A<sup>(b)</sup> | 1905 | &nbsp;&nbsp; 395631 |
| MongoDB, Inc.<sup>(b)</sup> | 498 | &nbsp;&nbsp; 118469 |
| Okta, Inc.<sup>(b)</sup> | 1018 | &nbsp;&nbsp; 99560 |
|  |  | &nbsp;&nbsp; 681652 |
| **IT Consulting & Other Services-6.40%** | **IT Consulting & Other Services-6.40%** | **IT Consulting & Other Services-6.40%** |
| Accenture PLC, Class A (Ireland) | 2522 | &nbsp;&nbsp; 673626 |
| Fujitsu Ltd. (Japan) | 6083 | &nbsp;&nbsp; 132780 |
| International Business Machines Corp. | 4157 | &nbsp;&nbsp; 1052345 |
| Kyndryl Holdings, Inc.<sup>(b)</sup> | 1278 | &nbsp;&nbsp; 48270 |
| NEC Corp. (Japan) | 5618 | &nbsp;&nbsp; 161653 |
| TIS, Inc. (Japan) | 1114 | &nbsp;&nbsp; 35611 |
| Wipro Ltd. (India) | 18605 | &nbsp;&nbsp; 52335 |
|  |  | &nbsp;&nbsp; 2156620 |
| **Research & Consulting Services-0.30%** | **Research & Consulting Services-0.30%** | **Research & Consulting Services-0.30%** |
| Booz Allen Hamilton Holding Corp. | 406 | &nbsp;&nbsp; 43576 |
| CACI International, Inc., Class A<sup>(b)(c)</sup> | 127 | &nbsp;&nbsp; 58492 |
|  |  | &nbsp;&nbsp; 102068 |
| **Security & Alarm Services-0.18%** | **Security & Alarm Services-0.18%** | **Security & Alarm Services-0.18%** |
| SECOM Co. Ltd. (Japan) | 1699 | &nbsp;&nbsp; 61140 |
| **Semiconductors-27.95%** | **Semiconductors-27.95%** | **Semiconductors-27.95%** |
| ARM Holdings PLC, ADR<sup>(b)(c)</sup> | 818 | &nbsp;&nbsp; 115645 |
| Broadcom, Inc. | 10220 | &nbsp;&nbsp; 3001614 |
| Credo Technology Group Holding Ltd.<sup>(b)</sup> | 1035 | &nbsp;&nbsp; 115454 |
| Intel Corp. | 25239 | &nbsp;&nbsp; 499732 |
| Lattice Semiconductor Corp.<sup>(b)(c)</sup> | 838 | &nbsp;&nbsp; 41758 |
| MACOM Technology Solutions Holdings, Inc.<sup>(b)</sup> | 200 | &nbsp;&nbsp; 27428 |
| Marvell Technology, Inc. | 5305 | &nbsp;&nbsp; 426363 |
| Microchip Technology, Inc. | 2411 | &nbsp;&nbsp; 162960 |
| Micron Technology, Inc. | 5586 | &nbsp;&nbsp; 609656 |
| QUALCOMM, Inc. | 6653 | &nbsp;&nbsp; 976394 |
| Rambus, Inc.<sup>(b)</sup> | 654 | &nbsp;&nbsp; 48350 |
| SK hynix, Inc. (South Korea) | 2247 | &nbsp;&nbsp; 435504 |
| &nbsp;&nbsp;&nbsp; Taiwan Semiconductor Manufacturing Co. Ltd. <br> (Taiwan)<br>| 74211 | &nbsp;&nbsp; 2857071 |
| United Microelectronics Corp. (Taiwan) | 73049 | &nbsp;&nbsp; 101222 |
|  |  | &nbsp;&nbsp; 9419151 |
| **Systems Software-7.00%** | **Systems Software-7.00%** | **Systems Software-7.00%** |
| &nbsp;&nbsp;&nbsp; Check Point Software Technologies Ltd. <br> (Israel)<sup>(b)</sup><br>| 509 | &nbsp;&nbsp; 94776 |
| Commvault Systems, Inc.<sup>(b)</sup> | 253 | &nbsp;&nbsp; 48057 |
| CrowdStrike Holdings, Inc., Class A<sup>(b)</sup> | 1523 | &nbsp;&nbsp; 692310 |
| CyberArk Software Ltd.<sup>(b)</sup> | 301 | &nbsp;&nbsp; 123853 |
| Fortinet, Inc.<sup>(b)</sup> | 3976 | &nbsp;&nbsp; 397202 |
| Palo Alto Networks, Inc.<sup>(b)(c)</sup> | 4077 | &nbsp;&nbsp; 707767 |
| Rubrik, Inc., Class A<sup>(b)</sup> | 752 | &nbsp;&nbsp; 71402 |
| Trend Micro, Inc. (Japan) | 799 | &nbsp;&nbsp; 48821 |
| Zscaler, Inc.<sup>(b)</sup> | 614 | &nbsp;&nbsp; 175334 |
|  |  | &nbsp;&nbsp; 2359522 |
| **Technology Hardware, Storage & Peripherals-13.14%** | **Technology Hardware, Storage & Peripherals-13.14%** | **Technology Hardware, Storage & Peripherals-13.14%** |
| Apple, Inc. | 13137 | &nbsp;&nbsp; 2726847 |

---

See accompanying notes which are an integral part of this schedule.

------

**Invesco Next Gen Connectivity ETF (KNCT)—(continued)**

July 31, 2025

*(Unaudited)*

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Technology Hardware, Storage & Peripherals-(continued)** | **Technology Hardware, Storage & Peripherals-(continued)** | **Technology Hardware, Storage & Peripherals-(continued)** |
| Lite-On Technology Corp. (Taiwan) | 8196 | &nbsp;&nbsp; $32403 |
| NetApp, Inc. | 1239 | &nbsp;&nbsp; 129017 |
| Samsung Electronics Co. Ltd. (South Korea) | 21439 | &nbsp;&nbsp; 1092617 |
| Xiaomi Corp., B Shares (China)<sup>(b)(d)</sup> | 66377 | &nbsp;&nbsp; 446581 |
|  |  | &nbsp;&nbsp; 4427465 |
| **Telecom Tower REITs-2.77%** | **Telecom Tower REITs-2.77%** | **Telecom Tower REITs-2.77%** |
| American Tower Corp. | 2863 | &nbsp;&nbsp; 596620 |
| Crown Castle, Inc. | 1801 | &nbsp;&nbsp; 189267 |
| SBA Communications Corp., Class A | 655 | &nbsp;&nbsp; 147192 |
|  |  | &nbsp;&nbsp; 933079 |
| **Wireless Telecommunication Services-3.76%** | **Wireless Telecommunication Services-3.76%** | **Wireless Telecommunication Services-3.76%** |
| America Movil S.A.B. de C.V., Class B (Mexico) | 136767 | &nbsp;&nbsp; 123703 |
| Bharti Airtel Ltd. (India) | 16492 | &nbsp;&nbsp; 359017 |
| KDDI Corp. (Japan) | 14414 | &nbsp;&nbsp; 237037 |
| SoftBank Corp. (Japan) | 94857 | &nbsp;&nbsp; 137331 |
| SoftBank Group Corp. (Japan) | 3411 | &nbsp;&nbsp; 260988 |
| Tele2 AB, Class B (Sweden) | 2655 | &nbsp;&nbsp; 41157 |
| Vodafone Group PLC (United Kingdom) | 98006 | &nbsp;&nbsp; 106475 |
|  |  | &nbsp;&nbsp; 1265708 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks & Other Equity Interests <br>(Cost $23,585,046) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks & Other Equity Interests <br>(Cost $23,585,046) | &nbsp;&nbsp; 33644764 |
| **Money Market Funds-0.03%** | **Money Market Funds-0.03%** | **Money Market Funds-0.03%** |
| &nbsp;&nbsp;&nbsp; Invesco Government & Agency Portfolio, <br> Institutional Class, 4.25%<sup>(e)(f)</sup> <br>(Cost $11,592)<br>| 11592 | &nbsp;&nbsp; 11592 |
| &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES <br>(excluding investments purchased with cash collateral from <br> securities on loan)-99.87% <br>(Cost $23,596,638) | &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES <br>(excluding investments purchased with cash collateral from <br> securities on loan)-99.87% <br>(Cost $23,596,638) | &nbsp;&nbsp; 33656356 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Investments Purchased with Cash Collateral** <br>**from Securities on Loan** | **Investments Purchased with Cash Collateral** <br>**from Securities on Loan** | **Investments Purchased with Cash Collateral** <br>**from Securities on Loan** |
| **Money Market Funds-6.12%** | **Money Market Funds-6.12%** | **Money Market Funds-6.12%** |
| &nbsp;&nbsp;&nbsp; Invesco Private Government Fund, <br> 4.32%<sup>(e)(f)(g)</sup><br>| 573272 | &nbsp;&nbsp; $573272 |
| Invesco Private Prime Fund, 4.46%<sup>(e)(f)(g)</sup> | 1488335 | &nbsp;&nbsp; 1488633 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Investments Purchased with Cash Collateral from <br> Securities on Loan <br>(Cost $2,061,905) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Investments Purchased with Cash Collateral from <br> Securities on Loan <br>(Cost $2,061,905) | &nbsp;&nbsp; 2061905 |
| &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES-105.99% <br>(Cost $25,658,543) | &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES-105.99% <br>(Cost $25,658,543) | &nbsp;&nbsp; 35718261 |
| OTHER ASSETS LESS LIABILITIES-(5.99)% | OTHER ASSETS LESS LIABILITIES-(5.99)% | &nbsp;&nbsp; (2018004)<br>|
| NET ASSETS-100.00% | NET ASSETS-100.00% | &nbsp;&nbsp; $33700257 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

Investment Abbreviations: <br> ADR -American Depositary Receipt <br> REIT -Real Estate Investment Trust

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Notes to Schedule of Investments: | Notes to Schedule of Investments: |
| <sup>(a)</sup> | Industry and/or sector classifications used in this report are generally according to the Global Industry Classification Standard, which was developed by and is <br> the exclusive property and a service mark of MSCI Inc. and Standard & Poor's.<br>|
| <sup>(b)</sup> | Non-income producing security. |
| <sup>(c)</sup> | All or a portion of this security was out on loan at July 31, 2025. |
| <sup>(d)</sup> | Security purchased or received in a transaction exempt from registration under the Securities Act of 1933, as amended (the "1933 Act"). The security may be <br> resold pursuant to an exemption from registration under the 1933 Act, typically to qualified institutional buyers. The aggregate value of these securities at <br> July 31, 2025 was $580,371, which represented 1.72% of the Fund's Net Assets.<br>|
| <sup>(e)</sup> | Affiliated holding. Affiliated holdings are investments in entities which are under common ownership or control of Invesco Ltd. or are investments in entities in <br> which the Fund owns 5% or more of the outstanding voting securities. The table below shows the Fund's transactions in, and earnings from, its investments in <br> affiliates for the three months ended July 31, 2025.<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Value** <br>**April 30, 2025**<br>| **Purchases** <br>**at Cost**<br>| **Proceeds** <br>**from Sales**<br>| **Change in** <br>**Unrealized** <br>**Appreciation**<br>| **Realized** <br>**Gain**<br>| **Value** <br>**July 31, 2025**<br>| **Dividend Income** |
| **Investments in Affiliated Money** <br> **Market Funds:**<br>|  |  |  |  |  |  |  |
| &nbsp;&nbsp; Invesco Government & Agency <br> Portfolio, Institutional Class<br>| &nbsp;&nbsp;&nbsp; $13591 | &nbsp;&nbsp;&nbsp; $361998 | &nbsp;&nbsp;&nbsp; $(363997)<br>| &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $11592 | &nbsp;&nbsp;&nbsp; $445 |

---

See accompanying notes which are an integral part of this schedule.

------

**Invesco Next Gen Connectivity ETF (KNCT)—(continued)**

July 31, 2025

*(Unaudited)*

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Value**<br> **April 30, 2025**<br>| **Purchases**<br> **at Cost**<br>| **Proceeds**<br> **from Sales**<br>| **Change in**<br> **Unrealized**<br> **Appreciation**<br>| **Realized**<br> **Gain**<br>| **Value**<br> **July 31, 2025**<br>| **Dividend Income** |
| **Investments Purchased with** <br> **Cash Collateral from Securities** <br> **on Loan:**<br>|  |  |  |  |  |  |  |
| &nbsp;&nbsp; Invesco Private Government Fund | &nbsp;&nbsp;&nbsp; $406458 | &nbsp;&nbsp;&nbsp; $3254762 | &nbsp;&nbsp;&nbsp; $(3087948)<br>| &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $573272 | &nbsp;&nbsp;&nbsp; $5,140<br> \*<br>|
| &nbsp;&nbsp; Invesco Private Prime Fund | &nbsp;&nbsp;&nbsp; 1057852 | &nbsp;&nbsp;&nbsp; 7635911 | &nbsp;&nbsp;&nbsp; (7205135)<br>| &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; 5 | &nbsp;&nbsp;&nbsp; 1488633 | &nbsp;&nbsp;&nbsp; 13,896<br> \*<br>|
| &nbsp;&nbsp; Total | &nbsp;&nbsp;&nbsp; $1477901 | &nbsp;&nbsp;&nbsp; $11252671 | &nbsp;&nbsp;&nbsp; $(10657080)<br>| &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $5 | &nbsp;&nbsp;&nbsp; $2073497 | &nbsp;&nbsp;&nbsp; $19481 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* Represents the income earned on the investment of cash collateral. Does not include rebates and fees paid to lending agent or premiums received from borrowers, if any.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(f)</sup> The rate shown is the 7-day SEC standardized yield as of July 31, 2025. <br> <sup>(g)</sup> The security has been segregated to satisfy the commitment to return the cash collateral received in securities lending transactions upon the borrower's return of the securities loaned.

The valuation policy and a listing of other significant accounting policies are available in the most recent shareholder report.

See accompanying notes which are an integral part of this schedule.

------

Schedule of Investments<sup>(a)</sup>

**Invesco Next Gen Media and Gaming ETF (GGME)**

July 31, 2025

*(Unaudited)*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Common Stocks & Other Equity Interests-99.98%** | **Common Stocks & Other Equity Interests-99.98%** | **Common Stocks & Other Equity Interests-99.98%** |
| **Advertising-2.26%** | **Advertising-2.26%** | **Advertising-2.26%** |
| Integral Ad Science Holding Corp.<sup>(b)(c)</sup> | 5817 | &nbsp;&nbsp; $47700 |
| Magnite, Inc.<sup>(b)(c)</sup> | 11431 | &nbsp;&nbsp; 263027 |
| Trade Desk, Inc. (The), Class A<sup>(b)</sup> | 36300 | &nbsp;&nbsp; 3156648 |
|  |  | &nbsp;&nbsp; 3467375 |
| **Application Software-11.64%** | **Application Software-11.64%** | **Application Software-11.64%** |
| Adobe, Inc.<sup>(b)</sup> | 15795 | &nbsp;&nbsp; 5649714 |
| Autodesk, Inc.<sup>(b)</sup> | 16995 | &nbsp;&nbsp; 5151354 |
| &nbsp;&nbsp;&nbsp; Beijing Kingsoft Office Software, Inc., A Shares <br> (China)<br>| 2203 | &nbsp;&nbsp; 95651 |
| Bentley Systems, Inc., Class B<sup>(c)</sup> | 14590 | &nbsp;&nbsp; 845928 |
| Catapult Group International Ltd. (Australia)<sup>(b)</sup> | 10474 | &nbsp;&nbsp; 44422 |
| Dassault Systemes SE (France) | 58734 | &nbsp;&nbsp; 1935151 |
| DoubleVerify Holdings, Inc.<sup>(b)</sup> | 11032 | &nbsp;&nbsp; 169010 |
| Iflytek Co. Ltd., A Shares (China) | 7148 | &nbsp;&nbsp; 48340 |
| Life360, Inc.<sup>(b)(c)</sup> | 5238 | &nbsp;&nbsp; 401178 |
| Nemetschek SE (Germany) | 2797 | &nbsp;&nbsp; 417958 |
| Riskified Ltd., Class A<sup>(b)</sup> | 8512 | &nbsp;&nbsp; 43411 |
| Sinch AB<sup>(b)(d)</sup> | 44916 | &nbsp;&nbsp; 154660 |
| SoundHound AI, Inc., Class A<sup>(b)(c)</sup> | 29905 | &nbsp;&nbsp; 308919 |
| Unity Software, Inc.<sup>(b)</sup> | 28266 | &nbsp;&nbsp; 942954 |
| Vobile Group Ltd.<sup>(b)(d)</sup> | 141162 | &nbsp;&nbsp; 62478 |
| Zoom Communications, Inc., Class A<sup>(b)</sup> | 21269 | &nbsp;&nbsp; 1574969 |
|  |  | &nbsp;&nbsp; 17846097 |
| **Casinos & Gaming-3.81%** | **Casinos & Gaming-3.81%** | **Casinos & Gaming-3.81%** |
| Aristocrat Leisure Ltd. (Australia) | 50663 | &nbsp;&nbsp; 2272769 |
| DraftKings, Inc., Class A<sup>(b)(c)</sup> | 37187 | &nbsp;&nbsp; 1674902 |
| Evolution AB (Sweden) | 12068 | &nbsp;&nbsp; 1076822 |
| Light & Wonder, Inc.<sup>(b)(c)</sup> | 4624 | &nbsp;&nbsp; 445384 |
| Playtech PLC (United Kingdom) | 23707 | &nbsp;&nbsp; 124692 |
| Sportradar Group AG (Switzerland)<sup>(b)</sup> | 8310 | &nbsp;&nbsp; 245727 |
|  |  | &nbsp;&nbsp; 5840296 |
| **Communications Equipment-0.04%** | **Communications Equipment-0.04%** | **Communications Equipment-0.04%** |
| Harmonic, Inc.<sup>(b)(c)</sup> | 6621 | &nbsp;&nbsp; 56345 |
| **Consumer Electronics-0.17%** | **Consumer Electronics-0.17%** | **Consumer Electronics-0.17%** |
| Merry Electronics Co. Ltd. (Taiwan) | 20121 | &nbsp;&nbsp; 76310 |
| Sonos, Inc.<sup>(b)(c)</sup> | 9727 | &nbsp;&nbsp; 105149 |
| TCL Electronics Holdings Ltd. (China)<sup>(b)</sup> | 67237 | &nbsp;&nbsp; 87079 |
|  |  | &nbsp;&nbsp; 268538 |
| **Electronic Equipment & Instruments-0.75%** | **Electronic Equipment & Instruments-0.75%** | **Electronic Equipment & Instruments-0.75%** |
| Hexagon AB, Class B (Sweden) | 104913 | &nbsp;&nbsp; 1156271 |
| **Electronic Manufacturing Services-0.07%** | **Electronic Manufacturing Services-0.07%** | **Electronic Manufacturing Services-0.07%** |
| GoerTek, Inc., A Shares (China) | 14400 | &nbsp;&nbsp; 45761 |
| Primax Electronics Ltd. (Taiwan) | 23331 | &nbsp;&nbsp; 56545 |
|  |  | &nbsp;&nbsp; 102306 |
| **Interactive Home Entertainment-18.06%** | **Interactive Home Entertainment-18.06%** | **Interactive Home Entertainment-18.06%** |
| Capcom Co. Ltd. (Japan) | 26483 | &nbsp;&nbsp; 675510 |
| CD Projekt S.A. (Poland)<sup>(c)</sup> | 4566 | &nbsp;&nbsp; 306069 |
| DeNA Co. Ltd. (Japan)<sup>(c)</sup> | 4374 | &nbsp;&nbsp; 68305 |
| Electronic Arts, Inc. | 18306 | &nbsp;&nbsp; 2791482 |
| GungHo Online Entertainment, Inc. (Japan) | 3662 | &nbsp;&nbsp; 70247 |
| Kingsoft Corp. Ltd. (China) | 83256 | &nbsp;&nbsp; 378586 |
| Koei Tecmo Holdings Co. Ltd. (Japan)<sup>(c)</sup> | 8673 | &nbsp;&nbsp; 113794 |
| Konami Group Corp. (Japan) | 7230 | &nbsp;&nbsp; 983526 |
| Krafton, Inc. (South Korea)<sup>(b)</sup> | 2566 | &nbsp;&nbsp; 604179 |
| Mixi, Inc. (Japan) | 2908 | &nbsp;&nbsp; 66684 |
| &nbsp;&nbsp;&nbsp; Modern Times Group MTG AB, Class B <br> (Sweden)<sup>(b)</sup><br>| 7413 | &nbsp;&nbsp; 76440 |
| NCSoft Corp. (South Korea) | 1002 | &nbsp;&nbsp; 139119 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Interactive Home Entertainment-(continued)** | **Interactive Home Entertainment-(continued)** | **Interactive Home Entertainment-(continued)** |
| NetEase, Inc. (China) | 128149 | &nbsp;&nbsp; $3350104 |
| Netmarble Corp. (South Korea)<sup>(d)</sup> | 2423 | &nbsp;&nbsp; 103478 |
| Nexon Co. Ltd. (Japan) | 33397 | &nbsp;&nbsp; 612338 |
| Nintendo Co. Ltd. (Japan) | 79647 | &nbsp;&nbsp; 6670304 |
| Paradox Interactive AB (Sweden)<sup>(c)</sup> | 3532 | &nbsp;&nbsp; 60575 |
| Pearl Abyss Corp. (South Korea)<sup>(b)</sup> | 3025 | &nbsp;&nbsp; 84612 |
| Roblox Corp., Class A<sup>(b)</sup> | 51030 | &nbsp;&nbsp; 7031424 |
| Square Enix Holdings Co. Ltd. (Japan) | 5197 | &nbsp;&nbsp; 352061 |
| Take-Two Interactive Software, Inc.<sup>(b)</sup> | 13373 | &nbsp;&nbsp; 2978568 |
| Ubisoft Entertainment S.A. (France)<sup>(b)</sup> | 8025 | &nbsp;&nbsp; 84884 |
| XD, Inc. (China)<sup>(c)(d)</sup> | 15368 | &nbsp;&nbsp; 102280 |
|  |  | &nbsp;&nbsp; 27704569 |
| **Interactive Media & Services-11.67%** | **Interactive Media & Services-11.67%** | **Interactive Media & Services-11.67%** |
| fuboTV, Inc.<sup>(b)(c)</sup> | 27664 | &nbsp;&nbsp; 110103 |
| Hello Group, Inc., ADR (China) | 9759 | &nbsp;&nbsp; 80316 |
| JOYY, Inc., ADR (China) | 2234 | &nbsp;&nbsp; 112147 |
| Meta Platforms, Inc., Class A | 16754 | &nbsp;&nbsp; 12958214 |
| Newborn Town, Inc. (China)<sup>(b)(d)</sup> | 51737 | &nbsp;&nbsp; 69807 |
| Pinterest, Inc., Class A<sup>(b)</sup> | 48132 | &nbsp;&nbsp; 1857895 |
| Reddit, Inc., Class A<sup>(b)(c)</sup> | 9868 | &nbsp;&nbsp; 1584702 |
| Snap, Inc., Class A<sup>(b)</sup> | 95932 | &nbsp;&nbsp; 904639 |
| Trump Media & Technology Group Corp.<sup>(b)(c)</sup> | 8574 | &nbsp;&nbsp; 150817 |
| Weibo Corp., A Shares (China) | 7214 | &nbsp;&nbsp; 70439 |
|  |  | &nbsp;&nbsp; 17899079 |
| **Internet Services & Infrastructure-3.41%** | **Internet Services & Infrastructure-3.41%** | **Internet Services & Infrastructure-3.41%** |
| Cloudflare, Inc., Class A<sup>(b)</sup> | 25155 | &nbsp;&nbsp; 5224190 |
| **Leisure Products-0.52%** | **Leisure Products-0.52%** | **Leisure Products-0.52%** |
| Peloton Interactive, Inc., Class A<sup>(b)(c)</sup> | 19611 | &nbsp;&nbsp; 140022 |
| Sankyo Co. Ltd. (Japan) | 17749 | &nbsp;&nbsp; 331873 |
| Sega Sammy Holdings, Inc. (Japan) | 13246 | &nbsp;&nbsp; 271327 |
| Tsuburaya Fields Holdings, Inc. (Japan) | 3441 | &nbsp;&nbsp; 52482 |
|  |  | &nbsp;&nbsp; 795704 |
| **Movies & Entertainment-12.53%** | **Movies & Entertainment-12.53%** | **Movies & Entertainment-12.53%** |
| China Ruyi Holdings Ltd. (China)<sup>(b)</sup> | 797927 | &nbsp;&nbsp; 318995 |
| iQIYI, Inc., ADR (China)<sup>(b)(c)</sup> | 38561 | &nbsp;&nbsp; 70952 |
| NetEase Cloud Music, Inc. (China)<sup>(b)(c)(d)</sup> | 5957 | &nbsp;&nbsp; 193011 |
| Netflix, Inc.<sup>(b)</sup> | 9559 | &nbsp;&nbsp; 11082705 |
| Roku, Inc., Class A<sup>(b)</sup> | 10492 | &nbsp;&nbsp; 987927 |
| Spotify Technology S.A. (Sweden)<sup>(b)</sup> | 9296 | &nbsp;&nbsp; 5824316 |
| &nbsp;&nbsp;&nbsp; Tencent Music Entertainment Group, ADR <br> (China)<sup>(c)</sup><br>| 35655 | &nbsp;&nbsp; 748398 |
|  |  | &nbsp;&nbsp; 19226304 |
| **Semiconductors-22.35%** | **Semiconductors-22.35%** | **Semiconductors-22.35%** |
| Advanced Micro Devices, Inc.<sup>(b)</sup> | 55144 | &nbsp;&nbsp; 9722439 |
| Ambarella, Inc.<sup>(b)</sup> | 3437 | &nbsp;&nbsp; 227151 |
| Cambricon Technologies Corp. Ltd. (China)<sup>(b)</sup> | 1805 | &nbsp;&nbsp; 177239 |
| NVIDIA Corp. | 80122 | &nbsp;&nbsp; 14251300 |
| QUALCOMM, Inc. | 67435 | &nbsp;&nbsp; 9896761 |
|  |  | &nbsp;&nbsp; 34274890 |
| **Systems Software-0.30%** | **Systems Software-0.30%** | **Systems Software-0.30%** |
| Adeia, Inc. | 8353 | &nbsp;&nbsp; 108171 |
| Dolby Laboratories, Inc., Class A | 4617 | &nbsp;&nbsp; 347845 |
|  |  | &nbsp;&nbsp; 456016 |
| **Technology Hardware, Storage & Peripherals-12.32%** | **Technology Hardware, Storage & Peripherals-12.32%** | **Technology Hardware, Storage & Peripherals-12.32%** |
| Apple, Inc. | 58320 | &nbsp;&nbsp; 12105482 |
| Clevo Co. (Taiwan) | 31548 | &nbsp;&nbsp; 46660 |
| HTC Corp. (Taiwan)<sup>(b)</sup> | 57780 | &nbsp;&nbsp; 77584 |
| Lenovo Group Ltd. (China) | 505765 | &nbsp;&nbsp; 648517 |

---

See accompanying notes which are an integral part of this schedule.

------

**Invesco Next Gen Media and Gaming ETF (GGME)—(continued)**

July 31, 2025

*(Unaudited)*

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Technology Hardware, Storage & Peripherals-(continued)** | **Technology Hardware, Storage & Peripherals-(continued)** | **Technology Hardware, Storage & Peripherals-(continued)** |
| &nbsp;&nbsp;&nbsp; Logitech International S.A., Class R <br> (Switzerland)<sup>(c)</sup><br>| 10163 | &nbsp;&nbsp; $942616 |
| &nbsp;&nbsp;&nbsp; Shenzhen Transsion Holdings Co. Ltd., A <br> Shares (China)<br>| 5073 | &nbsp;&nbsp; 53592 |
| Xiaomi Corp., B Shares (China)<sup>(b)(d)</sup> | 745500 | &nbsp;&nbsp; 5015688 |
|  |  | &nbsp;&nbsp; 18890139 |
| **Trading Companies & Distributors-0.08%** | **Trading Companies & Distributors-0.08%** | **Trading Companies & Distributors-0.08%** |
| Xometry, Inc., Class A<sup>(b)(c)</sup> | 3770 | &nbsp;&nbsp; 121922 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks & Other Equity Interests <br>(Cost $128,813,676) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks & Other Equity Interests <br>(Cost $128,813,676) | &nbsp;&nbsp; 153330041 |
| **Money Market Funds-0.14%** | **Money Market Funds-0.14%** | **Money Market Funds-0.14%** |
| &nbsp;&nbsp;&nbsp; Invesco Government & Agency Portfolio, <br> Institutional Class, 4.25%<sup>(e)(f)</sup> <br>(Cost $212,769)<br>| 212769 | &nbsp;&nbsp; 212769 |
| &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES <br>(excluding investments purchased with cash collateral <br> from securities on loan)-100.12% <br>(Cost $129,026,445) | &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES <br>(excluding investments purchased with cash collateral <br> from securities on loan)-100.12% <br>(Cost $129,026,445) | &nbsp;&nbsp; 153542810 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Investments Purchased with Cash Collateral** <br>**from Securities on Loan** | **Investments Purchased with Cash Collateral** <br>**from Securities on Loan** | **Investments Purchased with Cash Collateral** <br>**from Securities on Loan** |
| **Money Market Funds-3.14%** | **Money Market Funds-3.14%** | **Money Market Funds-3.14%** |
| &nbsp;&nbsp;&nbsp; Invesco Private Government Fund, <br> 4.32%<sup>(e)(f)(g)</sup><br>| 729588 | &nbsp;&nbsp; $729588 |
| Invesco Private Prime Fund, 4.46%<sup>(e)(f)(g)</sup> | 4095705 | &nbsp;&nbsp; 4096524 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Investments Purchased with Cash Collateral from <br> Securities on Loan <br>(Cost $4,826,112) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Investments Purchased with Cash Collateral from <br> Securities on Loan <br>(Cost $4,826,112) | &nbsp;&nbsp; 4826112 |
| &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES-103.26% <br>(Cost $133,852,557) | &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES-103.26% <br>(Cost $133,852,557) | &nbsp;&nbsp; 158368922 |
| OTHER ASSETS LESS LIABILITIES-(3.26)% | OTHER ASSETS LESS LIABILITIES-(3.26)% | &nbsp;&nbsp; (5003383)<br>|
| NET ASSETS-100.00% | NET ASSETS-100.00% | &nbsp;&nbsp; $153365539 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

Investment Abbreviations: <br> ADR -American Depositary Receipt

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Notes to Schedule of Investments: | Notes to Schedule of Investments: |
| <sup>(a)</sup> | Industry and/or sector classifications used in this report are generally according to the Global Industry Classification Standard, which was developed by and is <br> the exclusive property and a service mark of MSCI Inc. and Standard & Poor's.<br>|
| <sup>(b)</sup> | Non-income producing security. |
| <sup>(c)</sup> | All or a portion of this security was out on loan at July 31, 2025. |
| <sup>(d)</sup> | Security purchased or received in a transaction exempt from registration under the Securities Act of 1933, as amended (the "1933 Act"). The security may be <br> resold pursuant to an exemption from registration under the 1933 Act, typically to qualified institutional buyers. The aggregate value of these securities at <br> July 31, 2025 was $5,701,402, which represented 3.72% of the Fund's Net Assets.<br>|
| <sup>(e)</sup> | Affiliated holding. Affiliated holdings are investments in entities which are under common ownership or control of Invesco Ltd. or are investments in entities in <br> which the Fund owns 5% or more of the outstanding voting securities. The table below shows the Fund's transactions in, and earnings from, its investments in <br> affiliates for the three months ended July 31, 2025.<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Value** <br>**April 30, 2025**<br>| **Purchases** <br>**at Cost**<br>| **Proceeds** <br>**from Sales**<br>| **Change in** <br>**Unrealized** <br>**Appreciation**<br>| **Realized** <br>**Gain** <br>**(Loss)**<br>| **Value** <br>**July 31, 2025**<br>| **Dividend Income** |
| **Investments in Affiliated Money** <br> **Market Funds:**<br>|  |  |  |  |  |  |  |
| &nbsp;&nbsp; Invesco Government & Agency <br> Portfolio, Institutional Class<br>| &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $1434921 | &nbsp;&nbsp;&nbsp; $(1222152)<br>| &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $212769 | &nbsp;&nbsp;&nbsp; $1996 |
| **Investments Purchased with** <br> **Cash Collateral from Securities** <br> **on Loan:**<br>|  |  |  |  |  |  |  |
| &nbsp;&nbsp; Invesco Private Government Fund | &nbsp;&nbsp;&nbsp; 1571040 | &nbsp;&nbsp;&nbsp; 12036779 | &nbsp;&nbsp;&nbsp; (12878231)<br>| &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; 729588 | &nbsp;&nbsp;&nbsp; 15,924<br> \*<br>|
| &nbsp;&nbsp; Invesco Private Prime Fund | &nbsp;&nbsp;&nbsp; 4091534 | &nbsp;&nbsp;&nbsp; 35574981 | &nbsp;&nbsp;&nbsp; (35569932)<br>| &nbsp;&nbsp;&nbsp; 89 | &nbsp;&nbsp;&nbsp; (148)<br>| &nbsp;&nbsp;&nbsp; 4096524 | &nbsp;&nbsp;&nbsp; 42,755<br> \*<br>|
| &nbsp;&nbsp; Total | &nbsp;&nbsp;&nbsp; $5662574 | &nbsp;&nbsp;&nbsp; $49046681 | &nbsp;&nbsp;&nbsp; $(49670315)<br>| &nbsp;&nbsp;&nbsp; $89 | &nbsp;&nbsp;&nbsp; $(148)<br>| &nbsp;&nbsp;&nbsp; $5038881 | &nbsp;&nbsp;&nbsp; $60675 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* Represents the income earned on the investment of cash collateral. Does not include rebates and fees paid to lending agent or premiums received from borrowers, if any.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(f)</sup> The rate shown is the 7-day SEC standardized yield as of July 31, 2025. <br> <sup>(g)</sup> The security has been segregated to satisfy the commitment to return the cash collateral received in securities lending transactions upon the borrower's return of the securities loaned.

The valuation policy and a listing of other significant accounting policies are available in the most recent shareholder report.

See accompanying notes which are an integral part of this schedule.

------

Schedule of Investments<sup>(a)</sup>

**Invesco Oil & Gas Services ETF (PXJ)**

July 31, 2025

*(Unaudited)*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Common Stocks & Other Equity Interests-99.96%** | **Common Stocks & Other Equity Interests-99.96%** | **Common Stocks & Other Equity Interests-99.96%** |
| **Oil & Gas Drilling-11.26%** | **Oil & Gas Drilling-11.26%** | **Oil & Gas Drilling-11.26%** |
| Helmerich & Payne, Inc. | 41784 | &nbsp;&nbsp; $677319 |
| Patterson-UTI Energy, Inc. | 111238 | &nbsp;&nbsp; 657416 |
| Transocean Ltd.<sup>(b)(c)</sup> | 246350 | &nbsp;&nbsp; 719342 |
| Valaris Ltd.<sup>(b)(c)</sup> | 16774 | &nbsp;&nbsp; 815720 |
|  |  | &nbsp;&nbsp; 2869797 |
| **Oil & Gas Equipment & Services-63.14%** | **Oil & Gas Equipment & Services-63.14%** | **Oil & Gas Equipment & Services-63.14%** |
| Aris Water Solutions, Inc., Class A<sup>(c)</sup> | 26980 | &nbsp;&nbsp; 573865 |
| Baker Hughes Co., Class A | 31685 | &nbsp;&nbsp; 1427409 |
| Cactus, Inc., Class A<sup>(c)</sup> | 15240 | &nbsp;&nbsp; 644804 |
| Expro Group Holdings N.V.<sup>(b)</sup> | 77841 | &nbsp;&nbsp; 839126 |
| Halliburton Co. | 59072 | &nbsp;&nbsp; 1323213 |
| Helix Energy Solutions Group, Inc.<sup>(b)(c)</sup> | 101572 | &nbsp;&nbsp; 602322 |
| Innovex International, Inc.<sup>(b)(c)</sup> | 45153 | &nbsp;&nbsp; 741412 |
| Liberty Energy, Inc., Class A | 54351 | &nbsp;&nbsp; 670691 |
| NOV, Inc.<sup>(c)</sup> | 97575 | &nbsp;&nbsp; 1227494 |
| Oceaneering International, Inc.<sup>(b)(c)</sup> | 33409 | &nbsp;&nbsp; 724975 |
| RPC, Inc. | 141001 | &nbsp;&nbsp; 655655 |
| Schlumberger N.V. | 34765 | &nbsp;&nbsp; 1175057 |
| Select Water Solutions, Inc., Class A | 77243 | &nbsp;&nbsp; 743850 |
| TechnipFMC PLC (United Kingdom) | 38995 | &nbsp;&nbsp; 1418248 |
| Tidewater, Inc.<sup>(b)(c)</sup> | 15556 | &nbsp;&nbsp; 777956 |
| USA Compression Partners L.P. | 45813 | &nbsp;&nbsp; 1092640 |
| Weatherford International PLC | 25846 | &nbsp;&nbsp; 1461591 |
|  |  | &nbsp;&nbsp; 16100308 |
| **Oil & Gas Storage & Transportation-25.56%** | **Oil & Gas Storage & Transportation-25.56%** | **Oil & Gas Storage & Transportation-25.56%** |
| DHT Holdings, Inc. | 54675 | &nbsp;&nbsp; 606345 |
| Dorian LPG Ltd. | 28971 | &nbsp;&nbsp; 834075 |
| Excelerate Energy, Inc., Class A<sup>(c)</sup> | 21989 | &nbsp;&nbsp; 564238 |
| Frontline PLC (Norway)<sup>(c)</sup> | 62917 | &nbsp;&nbsp; 1158931 |
| International Seaways, Inc.<sup>(c)</sup> | 17215 | &nbsp;&nbsp; 686879 |
| Navigator Holdings Ltd.<sup>(c)</sup> | 45282 | &nbsp;&nbsp; 714097 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Oil & Gas Storage & Transportation-(continued)** | **Oil & Gas Storage & Transportation-(continued)** | **Oil & Gas Storage & Transportation-(continued)** |
| Okeanis Eco Tankers Corp. (Greece)<sup>(d)</sup> | 26892 | &nbsp;&nbsp; $636265 |
| Scorpio Tankers, Inc. (Monaco) | 15702 | &nbsp;&nbsp; 709887 |
| Teekay Tankers Ltd., Class A (Canada)<sup>(c)</sup> | 14312 | &nbsp;&nbsp; 606113 |
|  |  | &nbsp;&nbsp; 6516830 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks & Other Equity Interests <br>(Cost $32,002,508) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks & Other Equity Interests <br>(Cost $32,002,508) | &nbsp;&nbsp; 25486935 |
| **Money Market Funds-0.48%** | **Money Market Funds-0.48%** | **Money Market Funds-0.48%** |
| &nbsp;&nbsp;&nbsp; Invesco Government & Agency Portfolio, <br> Institutional Class, 4.25%<sup>(e)(f)</sup> <br>(Cost $121,749)<br>| 121749 | &nbsp;&nbsp; 121749 |
| &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES <br>(excluding investments purchased with cash collateral from <br> securities on loan)-100.44% <br>(Cost $32,124,257) | &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES <br>(excluding investments purchased with cash collateral from <br> securities on loan)-100.44% <br>(Cost $32,124,257) | &nbsp;&nbsp; 25608684 |
| **Investments Purchased with Cash Collateral** <br>**from Securities on Loan** | **Investments Purchased with Cash Collateral** <br>**from Securities on Loan** | **Investments Purchased with Cash Collateral** <br>**from Securities on Loan** |
| **Money Market Funds-27.64%** | **Money Market Funds-27.64%** | **Money Market Funds-27.64%** |
| &nbsp;&nbsp;&nbsp; Invesco Private Government Fund, <br> 4.32%<sup>(e)(f)(g)</sup><br>| 1955483 | &nbsp;&nbsp; 1955483 |
| Invesco Private Prime Fund, 4.46%<sup>(e)(f)(g)</sup> | 5091969 | &nbsp;&nbsp; 5092987 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Investments Purchased with Cash Collateral from <br> Securities on Loan <br>(Cost $7,048,470) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Investments Purchased with Cash Collateral from <br> Securities on Loan <br>(Cost $7,048,470) | &nbsp;&nbsp; 7048470 |
| &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES-128.08% <br>(Cost $39,172,727) | &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES-128.08% <br>(Cost $39,172,727) | &nbsp;&nbsp; 32657154 |
| OTHER ASSETS LESS LIABILITIES-(28.08)% | OTHER ASSETS LESS LIABILITIES-(28.08)% | &nbsp;&nbsp; (7159085)<br>|
| NET ASSETS-100.00% | NET ASSETS-100.00% | &nbsp;&nbsp; $25498069 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Notes to Schedule of Investments: | Notes to Schedule of Investments: |
| <sup>(a)</sup> | Industry and/or sector classifications used in this report are generally according to the Global Industry Classification Standard, which was developed by and is <br> the exclusive property and a service mark of MSCI Inc. and Standard & Poor's.<br>|
| <sup>(b)</sup> | Non-income producing security. |
| <sup>(c)</sup> | All or a portion of this security was out on loan at July 31, 2025. |
| <sup>(d)</sup> | Security purchased or received in a transaction exempt from registration under the Securities Act of 1933, as amended (the "1933 Act"). The security may be <br> resold pursuant to an exemption from registration under the 1933 Act, typically to qualified institutional buyers. The value of this security at July 31, 2025 <br> represented 2.50% of the Fund's Net Assets.<br>|
| <sup>(e)</sup> | Affiliated holding. Affiliated holdings are investments in entities which are under common ownership or control of Invesco Ltd. or are investments in entities in <br> which the Fund owns 5% or more of the outstanding voting securities. The table below shows the Fund's transactions in, and earnings from, its investments in <br> affiliates for the three months ended July 31, 2025.<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Value** <br>**April 30, 2025**<br>| **Purchases** <br>**at Cost**<br>| **Proceeds** <br>**from Sales**<br>| **Change in** <br>**Unrealized** <br>**Appreciation**<br>| **Realized** <br>**Gain** <br>**(Loss)**<br>| **Value** <br>**July 31, 2025**<br>| **Dividend Income** |
| **Investments in Affiliated Money** <br> **Market Funds:**<br>|  |  |  |  |  |  |  |
| &nbsp;&nbsp; Invesco Government & Agency <br> Portfolio, Institutional Class<br>| &nbsp;&nbsp;&nbsp; $128164 | &nbsp;&nbsp;&nbsp; $441255 | &nbsp;&nbsp;&nbsp; $(447670)<br>| &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $121749 | &nbsp;&nbsp;&nbsp; $1295 |

---

See accompanying notes which are an integral part of this schedule.

------

**Invesco Oil & Gas Services ETF (PXJ)—(continued)**

July 31, 2025

*(Unaudited)*

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Value**<br> **April 30, 2025**<br>| **Purchases**<br> **at Cost**<br>| **Proceeds**<br> **from Sales**<br>| **Change in**<br> **Unrealized**<br> **Appreciation**<br>| **Realized**<br> **Gain**<br> **(Loss)**<br>| **Value**<br> **July 31, 2025**<br>| **Dividend Income** |
| **Investments Purchased with** <br> **Cash Collateral from Securities** <br> **on Loan:**<br>|  |  |  |  |  |  |  |
| &nbsp;&nbsp; Invesco Private Government Fund | &nbsp;&nbsp;&nbsp; $2072755 | &nbsp;&nbsp;&nbsp; $8698888 | &nbsp;&nbsp;&nbsp; $(8816160)<br>| &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $1955483 | &nbsp;&nbsp;&nbsp; $22,681<br> \*<br>|
| &nbsp;&nbsp; Invesco Private Prime Fund | &nbsp;&nbsp;&nbsp; 5965739 | &nbsp;&nbsp;&nbsp; 15659280 | &nbsp;&nbsp;&nbsp; (16532032)<br>| &nbsp;&nbsp;&nbsp; 308 | &nbsp;&nbsp;&nbsp; (308)<br>| &nbsp;&nbsp;&nbsp; 5092987 | &nbsp;&nbsp;&nbsp; 62,583<br> \*<br>|
| &nbsp;&nbsp; Total | &nbsp;&nbsp;&nbsp; $8166658 | &nbsp;&nbsp;&nbsp; $24799423 | &nbsp;&nbsp;&nbsp; $(25795862)<br>| &nbsp;&nbsp;&nbsp; $308 | &nbsp;&nbsp;&nbsp; $(308)<br>| &nbsp;&nbsp;&nbsp; $7170219 | &nbsp;&nbsp;&nbsp; $86559 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* Represents the income earned on the investment of cash collateral. Does not include rebates and fees paid to lending agent or premiums received from borrowers, if any.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(f)</sup> The rate shown is the 7-day SEC standardized yield as of July 31, 2025. <br> <sup>(g)</sup> The security has been segregated to satisfy the commitment to return the cash collateral received in securities lending transactions upon the borrower's return of the securities loaned.

The valuation policy and a listing of other significant accounting policies are available in the most recent shareholder report.

See accompanying notes which are an integral part of this schedule.

------

Schedule of Investments<sup>(a)</sup>

**Invesco Pharmaceuticals ETF (PJP)**

July 31, 2025

*(Unaudited)*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Common Stocks & Other Equity Interests-99.88%** | **Common Stocks & Other Equity Interests-99.88%** | **Common Stocks & Other Equity Interests-99.88%** |
| **Biotechnology-25.34%** | **Biotechnology-25.34%** | **Biotechnology-25.34%** |
| AbbVie, Inc. | 61315 | &nbsp;&nbsp; $11589761 |
| Amgen, Inc. | 40750 | &nbsp;&nbsp; 12025325 |
| Biogen, Inc.<sup>(b)</sup> | 48378 | &nbsp;&nbsp; 6192384 |
| Gilead Sciences, Inc. | 104387 | &nbsp;&nbsp; 11721616 |
| &nbsp;&nbsp;&nbsp; OmniAb, Inc., Rts., expiring <br> 11/02/2027<sup>(b)(c)(d)</sup><br>| 39023 | &nbsp;&nbsp; 0 |
| &nbsp;&nbsp;&nbsp; OmniAb, Inc., Rts., expiring <br> 11/02/2027<sup>(b)(c)(d)</sup><br>| 39023 | &nbsp;&nbsp; 0 |
| Regeneron Pharmaceuticals, Inc. | 10296 | &nbsp;&nbsp; 5616056 |
| Travere Therapeutics, Inc.<sup>(b)(c)</sup> | 404921 | &nbsp;&nbsp; 6256029 |
| United Therapeutics Corp.<sup>(b)</sup> | 19728 | &nbsp;&nbsp; 5419282 |
|  |  | &nbsp;&nbsp; 58820453 |
| **Health Care Equipment-4.65%** | **Health Care Equipment-4.65%** | **Health Care Equipment-4.65%** |
| Abbott Laboratories | 85663 | &nbsp;&nbsp; 10809814 |
| **Pharmaceuticals-69.89%** | **Pharmaceuticals-69.89%** | **Pharmaceuticals-69.89%** |
| Amneal Pharmaceuticals, Inc.<sup>(b)</sup> | 852056 | &nbsp;&nbsp; 6663078 |
| Amphastar Pharmaceuticals, Inc.<sup>(b)(c)</sup> | 243301 | &nbsp;&nbsp; 5097156 |
| ANI Pharmaceuticals, Inc.<sup>(b)(c)</sup> | 106508 | &nbsp;&nbsp; 6747282 |
| Avadel Pharmaceuticals PLC<sup>(b)(c)</sup> | 685595 | &nbsp;&nbsp; 7205603 |
| Bristol-Myers Squibb Co. | 132468 | &nbsp;&nbsp; 5737189 |
| Collegium Pharmaceutical, Inc.<sup>(b)(c)</sup> | 210703 | &nbsp;&nbsp; 6291592 |
| Corcept Therapeutics, Inc.<sup>(b)</sup> | 80867 | &nbsp;&nbsp; 5431836 |
| Eli Lilly and Co. | 15701 | &nbsp;&nbsp; 11619839 |
| Harmony Biosciences Holdings, Inc.<sup>(b)(c)</sup> | 183825 | &nbsp;&nbsp; 6466963 |
| Innoviva, Inc.<sup>(b)(c)</sup> | 324361 | &nbsp;&nbsp; 5893639 |
| Jazz Pharmaceuticals PLC<sup>(b)(c)</sup> | 56746 | &nbsp;&nbsp; 6504794 |
| Johnson & Johnson | 74308 | &nbsp;&nbsp; 12241500 |
| Ligand Pharmaceuticals, Inc.<sup>(b)(c)</sup> | 61113 | &nbsp;&nbsp; 8041249 |
| Merck & Co., Inc. | 146770 | &nbsp;&nbsp; 11465672 |
| Ocular Therapeutix, Inc.<sup>(b)(c)</sup> | 895026 | &nbsp;&nbsp; 10364401 |
| Pacira BioSciences, Inc.<sup>(b)(c)</sup> | 240570 | &nbsp;&nbsp; 5073621 |
| Perrigo Co. PLC | 227277 | &nbsp;&nbsp; 6061478 |
| Pfizer, Inc. | 482326 | &nbsp;&nbsp; 11233373 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Pharmaceuticals-(continued)** | **Pharmaceuticals-(continued)** | **Pharmaceuticals-(continued)** |
| Prestige Consumer Healthcare, Inc.<sup>(b)(c)</sup> | 72328 | &nbsp;&nbsp; $5348656 |
| Supernus Pharmaceuticals, Inc.<sup>(b)</sup> | 190536 | &nbsp;&nbsp; 6687814 |
| Tarsus Pharmaceuticals, Inc.<sup>(b)</sup> | 148316 | &nbsp;&nbsp; 5757627 |
| Viatris, Inc. | 722265 | &nbsp;&nbsp; 6312596 |
|  |  | &nbsp;&nbsp; 162246958 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks & Other Equity Interests <br>(Cost $220,899,933) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks & Other Equity Interests <br>(Cost $220,899,933) | &nbsp;&nbsp; 231877225 |
| **Money Market Funds-0.07%** | **Money Market Funds-0.07%** | **Money Market Funds-0.07%** |
| &nbsp;&nbsp;&nbsp; Invesco Government & Agency Portfolio, <br> Institutional Class, 4.25%<sup>(e)(f)</sup> <br>(Cost $172,957)<br>| 172957 | &nbsp;&nbsp; 172957 |
| &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES <br>(excluding investments purchased with cash collateral <br> from securities on loan)-99.95% <br>(Cost $221,072,890) | &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES <br>(excluding investments purchased with cash collateral <br> from securities on loan)-99.95% <br>(Cost $221,072,890) | &nbsp;&nbsp; 232050182 |
| **Investments Purchased with Cash Collateral** <br>**from Securities on Loan** | **Investments Purchased with Cash Collateral** <br>**from Securities on Loan** | **Investments Purchased with Cash Collateral** <br>**from Securities on Loan** |
| **Money Market Funds-13.38%** | **Money Market Funds-13.38%** | **Money Market Funds-13.38%** |
| &nbsp;&nbsp;&nbsp; Invesco Private Government Fund, <br> 4.32%<sup>(e)(f)(g)</sup><br>| 8625617 | &nbsp;&nbsp; 8625617 |
| Invesco Private Prime Fund, 4.46%<sup>(e)(f)(g)</sup> | 22426129 | &nbsp;&nbsp; 22430614 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Investments Purchased with Cash Collateral from <br> Securities on Loan <br>(Cost $31,056,231) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Investments Purchased with Cash Collateral from <br> Securities on Loan <br>(Cost $31,056,231) | &nbsp;&nbsp; 31056231 |
| &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES-113.33% <br>(Cost $252,129,121) | &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES-113.33% <br>(Cost $252,129,121) | &nbsp;&nbsp; 263106413 |
| OTHER ASSETS LESS LIABILITIES-(13.33)% | OTHER ASSETS LESS LIABILITIES-(13.33)% | &nbsp;&nbsp; (30953309)<br>|
| NET ASSETS-100.00% | NET ASSETS-100.00% | &nbsp;&nbsp; $232153104 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

Investment Abbreviations: <br> Rts. -Rights

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Notes to Schedule of Investments: | Notes to Schedule of Investments: |
| <sup>(a)</sup> | Industry and/or sector classifications used in this report are generally according to the Global Industry Classification Standard, which was developed by and is <br> the exclusive property and a service mark of MSCI Inc. and Standard & Poor's.<br>|
| <sup>(b)</sup> | Non-income producing security. |
| <sup>(c)</sup> | All or a portion of this security was out on loan at July 31, 2025. |
| <sup>(d)</sup> | Security valued using significant unobservable inputs (Level 3). See Note 1. |
| <sup>(e)</sup> | Affiliated holding. Affiliated holdings are investments in entities which are under common ownership or control of Invesco Ltd. or are investments in entities in <br> which the Fund owns 5% or more of the outstanding voting securities. The table below shows the Fund's transactions in, and earnings from, its investments in <br> affiliates for the three months ended July 31, 2025.<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Value** <br>**April 30, 2025**<br>| **Purchases** <br>**at Cost**<br>| **Proceeds** <br>**from Sales**<br>| **Change in** <br>**Unrealized** <br>**Appreciation**<br>| **Realized** <br>**Gain** <br>**(Loss)**<br>| **Value** <br>**July 31, 2025**<br>| **Dividend Income** |
| **Investments in Affiliated Money** <br> **Market Funds:**<br>|  |  |  |  |  |  |  |
| &nbsp;&nbsp; Invesco Government & Agency <br> Portfolio, Institutional Class<br>| &nbsp;&nbsp;&nbsp; $272687 | &nbsp;&nbsp;&nbsp; $1133006 | &nbsp;&nbsp;&nbsp; $(1232736)<br>| &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $172957 | &nbsp;&nbsp;&nbsp; $2454 |

---

See accompanying notes which are an integral part of this schedule.

------

**Invesco Pharmaceuticals ETF (PJP)—(continued)**

July 31, 2025

*(Unaudited)*

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Value**<br> **April 30, 2025**<br>| **Purchases**<br> **at Cost**<br>| **Proceeds**<br> **from Sales**<br>| **Change in**<br> **Unrealized**<br> **Appreciation**<br>| **Realized**<br> **Gain**<br> **(Loss)**<br>| **Value**<br> **July 31, 2025**<br>| **Dividend Income** |
| **Investments Purchased with** <br> **Cash Collateral from Securities** <br> **on Loan:**<br>|  |  |  |  |  |  |  |
| &nbsp;&nbsp; Invesco Private Government Fund | &nbsp;&nbsp;&nbsp; $15157839 | &nbsp;&nbsp;&nbsp; $14582490 | &nbsp;&nbsp;&nbsp; $(21114712)<br>| &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $8625617 | &nbsp;&nbsp;&nbsp; $122,115<br> \*<br>|
| &nbsp;&nbsp; Invesco Private Prime Fund | &nbsp;&nbsp;&nbsp; 39432164 | &nbsp;&nbsp;&nbsp; 40938347 | &nbsp;&nbsp;&nbsp; (57939911)<br>| &nbsp;&nbsp;&nbsp; 2010 | &nbsp;&nbsp;&nbsp; (1996)<br>| &nbsp;&nbsp;&nbsp; 22430614 | &nbsp;&nbsp;&nbsp; 328,738<br> \*<br>|
| &nbsp;&nbsp; Total | &nbsp;&nbsp;&nbsp; $54862690 | &nbsp;&nbsp;&nbsp; $56653843 | &nbsp;&nbsp;&nbsp; $(80287359)<br>| &nbsp;&nbsp;&nbsp; $2010 | &nbsp;&nbsp;&nbsp; $(1996)<br>| &nbsp;&nbsp;&nbsp; $31229188 | &nbsp;&nbsp;&nbsp; $453307 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* Represents the income earned on the investment of cash collateral. Does not include rebates and fees paid to lending agent or premiums received from borrowers, if any.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(f)</sup> The rate shown is the 7-day SEC standardized yield as of July 31, 2025. <br> <sup>(g)</sup> The security has been segregated to satisfy the commitment to return the cash collateral received in securities lending transactions upon the borrower's return of the securities loaned.

The valuation policy and a listing of other significant accounting policies are available in the most recent shareholder report.

See accompanying notes which are an integral part of this schedule.

------

Schedule of Investments<sup>(a)</sup>

**Invesco Semiconductors ETF (PSI)**

July 31, 2025

*(Unaudited)*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Common Stocks & Other Equity Interests-100.02%** | **Common Stocks & Other Equity Interests-100.02%** | **Common Stocks & Other Equity Interests-100.02%** |
| **Automotive Parts & Equipment-2.12%** | **Automotive Parts & Equipment-2.12%** | **Automotive Parts & Equipment-2.12%** |
| Mobileye Global, Inc., Class A (Israel)<sup>(b)(c)</sup> | 1054633 | &nbsp;&nbsp; $15017974 |
| **Electronic Equipment & Instruments-2.85%** | **Electronic Equipment & Instruments-2.85%** | **Electronic Equipment & Instruments-2.85%** |
| Advanced Energy Industries, Inc.<sup>(c)</sup> | 145754 | &nbsp;&nbsp; 20248146 |
| **Semiconductor Materials & Equipment-31.93%** | **Semiconductor Materials & Equipment-31.93%** | **Semiconductor Materials & Equipment-31.93%** |
| ACM Research, Inc., Class A<sup>(b)(c)</sup> | 735395 | &nbsp;&nbsp; 22326592 |
| Applied Materials, Inc. | 194026 | &nbsp;&nbsp; 34936321 |
| Camtek Ltd. (Israel)<sup>(b)(c)</sup> | 259431 | &nbsp;&nbsp; 24425429 |
| Cohu, Inc.<sup>(b)(c)</sup> | 965463 | &nbsp;&nbsp; 17243169 |
| KLA Corp. | 39800 | &nbsp;&nbsp; 34985394 |
| Kulicke & Soffa Industries, Inc. (Singapore) | 523930 | &nbsp;&nbsp; 17163947 |
| Lam Research Corp. | 374070 | &nbsp;&nbsp; 35476799 |
| Nova Ltd. (Israel)<sup>(b)(c)</sup> | 86469 | &nbsp;&nbsp; 22705895 |
| Photronics, Inc.<sup>(b)</sup> | 853795 | &nbsp;&nbsp; 17383266 |
|  |  | &nbsp;&nbsp; 226646812 |
| **Semiconductors-63.12%** | **Semiconductors-63.12%** | **Semiconductors-63.12%** |
| Allegro MicroSystems, Inc. (Japan)<sup>(b)(c)</sup> | 655709 | &nbsp;&nbsp; 20595820 |
| Ambarella, Inc.<sup>(b)(c)</sup> | 274120 | &nbsp;&nbsp; 18116591 |
| Analog Devices, Inc. | 144779 | &nbsp;&nbsp; 32521707 |
| Broadcom, Inc. | 133243 | &nbsp;&nbsp; 39133469 |
| Cirrus Logic, Inc.<sup>(b)</sup> | 167610 | &nbsp;&nbsp; 16880003 |
| Credo Technology Group Holding Ltd.<sup>(b)</sup> | 269079 | &nbsp;&nbsp; 30015762 |
| Intel Corp. | 833436 | &nbsp;&nbsp; 16502033 |
| Lattice Semiconductor Corp.<sup>(b)(c)</sup> | 358088 | &nbsp;&nbsp; 17843525 |
| &nbsp;&nbsp;&nbsp; MACOM Technology Solutions Holdings, <br> Inc.<sup>(b)</sup><br>| 138493 | &nbsp;&nbsp; 18992930 |
| Marvell Technology, Inc. | 268367 | &nbsp;&nbsp; 21568656 |
| Micron Technology, Inc. | 177704 | &nbsp;&nbsp; 19394614 |
| NVIDIA Corp. | 231737 | &nbsp;&nbsp; 41219060 |
| QUALCOMM, Inc. | 211264 | &nbsp;&nbsp; 31005105 |
| Semtech Corp.<sup>(b)(c)</sup> | 441653 | &nbsp;&nbsp; 22568468 |
| Silicon Laboratories, Inc.<sup>(b)</sup> | 136597 | &nbsp;&nbsp; 17999387 |
| SiTime Corp.<sup>(b)</sup> | 85542 | &nbsp;&nbsp; 17352195 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Semiconductors-(continued)** | **Semiconductors-(continued)** | **Semiconductors-(continued)** |
| Skyworks Solutions, Inc. | 239912 | &nbsp;&nbsp; $16443568 |
| Texas Instruments, Inc. | 171355 | &nbsp;&nbsp; 31025536 |
| Tower Semiconductor Ltd. (Israel)<sup>(b)</sup> | 412015 | &nbsp;&nbsp; 18849686 |
|  |  | &nbsp;&nbsp; 448028115 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks & Other Equity Interests <br>(Cost $563,942,421) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks & Other Equity Interests <br>(Cost $563,942,421) | &nbsp;&nbsp; 709941047 |
| **Money Market Funds-0.02%** | **Money Market Funds-0.02%** | **Money Market Funds-0.02%** |
| &nbsp;&nbsp;&nbsp; Invesco Government & Agency Portfolio, <br> Institutional Class, 4.25%<sup>(d)(e)</sup> <br>(Cost $123,524)<br>| 123524 | &nbsp;&nbsp; 123524 |
| &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES <br>(excluding investments purchased with cash collateral <br> from securities on loan)-100.04% <br>(Cost $564,065,945) | &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES <br>(excluding investments purchased with cash collateral <br> from securities on loan)-100.04% <br>(Cost $564,065,945) | &nbsp;&nbsp; 710064571 |
| **Investments Purchased with Cash Collateral** <br>**from Securities on Loan** | **Investments Purchased with Cash Collateral** <br>**from Securities on Loan** | **Investments Purchased with Cash Collateral** <br>**from Securities on Loan** |
| **Money Market Funds-11.54%** | **Money Market Funds-11.54%** | **Money Market Funds-11.54%** |
| &nbsp;&nbsp;&nbsp; Invesco Private Government Fund, <br> 4.32%<sup>(d)(e)(f)</sup><br>| 22730238 | &nbsp;&nbsp; 22730238 |
| Invesco Private Prime Fund, 4.46%<sup>(d)(e)(f)</sup> | 59166933 | &nbsp;&nbsp; 59178766 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Investments Purchased with Cash Collateral from <br> Securities on Loan <br>(Cost $81,910,375) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Investments Purchased with Cash Collateral from <br> Securities on Loan <br>(Cost $81,910,375) | &nbsp;&nbsp; 81909004 |
| &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES-111.58% <br>(Cost $645,976,320) | &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES-111.58% <br>(Cost $645,976,320) | &nbsp;&nbsp; 791973575 |
| OTHER ASSETS LESS LIABILITIES-(11.58)% | OTHER ASSETS LESS LIABILITIES-(11.58)% | &nbsp;&nbsp; (82167178)<br>|
| NET ASSETS-100.00% | NET ASSETS-100.00% | &nbsp;&nbsp; $709806397 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Notes to Schedule of Investments: | Notes to Schedule of Investments: |
| <sup>(a)</sup> | Industry and/or sector classifications used in this report are generally according to the Global Industry Classification Standard, which was developed by and is <br> the exclusive property and a service mark of MSCI Inc. and Standard & Poor's.<br>|
| <sup>(b)</sup> | Non-income producing security. |
| <sup>(c)</sup> | All or a portion of this security was out on loan at July 31, 2025. |
| <sup>(d)</sup> | Affiliated holding. Affiliated holdings are investments in entities which are under common ownership or control of Invesco Ltd. or are investments in entities in <br> which the Fund owns 5% or more of the outstanding voting securities. The table below shows the Fund's transactions in, and earnings from, its investments in <br> affiliates for the three months ended July 31, 2025.<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Value** <br>**April 30, 2025**<br>| **Purchases** <br>**at Cost**<br>| **Proceeds** <br>**from Sales**<br>| **Change in** <br>**Unrealized** <br>**Appreciation** <br>**(Depreciation)**<br>| **Realized** <br>**Gain** <br>**(Loss)**<br>| **Value** <br>**July 31, 2025**<br>| **Dividend Income** |
| **Investments in Affiliated** <br> **Money Market Funds:**<br>|  |  |  |  |  |  |  |
| &nbsp;&nbsp; Invesco Government & <br> Agency Portfolio, Institutional <br> Class<br>| &nbsp;&nbsp;&nbsp; $458979 | &nbsp;&nbsp;&nbsp; $1810123 | &nbsp;&nbsp;&nbsp; $(2145578)<br>| &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $123524 | &nbsp;&nbsp;&nbsp; $5613 |

---

See accompanying notes which are an integral part of this schedule.

------

**Invesco Semiconductors ETF (PSI)—(continued)**

July 31, 2025

*(Unaudited)*

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Value**<br> **April 30, 2025**<br>| **Purchases**<br> **at Cost**<br>| **Proceeds**<br> **from Sales**<br>| **Change in**<br> **Unrealized**<br> **Appreciation**<br> **(Depreciation)**<br>| **Realized**<br> **Gain**<br> **(Loss)**<br>| **Value**<br> **July 31, 2025**<br>| **Dividend Income** |
| **Investments Purchased with** <br> **Cash Collateral from** <br> **Securities on Loan:**<br>|  |  |  |  |  |  |  |
| &nbsp;&nbsp; Invesco Private Government <br> Fund<br>| &nbsp;&nbsp;&nbsp; $7907068 | &nbsp;&nbsp;&nbsp; $80729600 | &nbsp;&nbsp;&nbsp; $(65906430)<br>| &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $22730238 | &nbsp;&nbsp;&nbsp; $188,703<br> \*<br>|
| &nbsp;&nbsp; Invesco Private Prime Fund | &nbsp;&nbsp;&nbsp; 20577921 | &nbsp;&nbsp;&nbsp; 154660065 | &nbsp;&nbsp;&nbsp; (116057849)<br>| &nbsp;&nbsp;&nbsp; (135)<br>| &nbsp;&nbsp;&nbsp; (1236)<br>| &nbsp;&nbsp;&nbsp; 59178766 | &nbsp;&nbsp;&nbsp; 513,690<br> \*<br>|
| &nbsp;&nbsp; Total | &nbsp;&nbsp;&nbsp; $28943968 | &nbsp;&nbsp;&nbsp; $237199788 | &nbsp;&nbsp;&nbsp; $(184109857)<br>| &nbsp;&nbsp;&nbsp; $(135)<br>| &nbsp;&nbsp;&nbsp; $(1236)<br>| &nbsp;&nbsp;&nbsp; $82032528 | &nbsp;&nbsp;&nbsp; $708006 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* Represents the income earned on the investment of cash collateral. Does not include rebates and fees paid to lending agent or premiums received from borrowers, if any.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(e)</sup> The rate shown is the 7-day SEC standardized yield as of July 31, 2025. <br> <sup>(f)</sup> The security has been segregated to satisfy the commitment to return the cash collateral received in securities lending transactions upon the borrower's return of the securities loaned.

The valuation policy and a listing of other significant accounting policies are available in the most recent shareholder report.

See accompanying notes which are an integral part of this schedule.

------

**Notes to Quarterly Schedules of Portfolio Holdings**

July 31, 2025

*(Unaudited)*

**NOTE 1—Additional Valuation Information**

Generally Accepted Accounting Principles ("GAAP") defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date, under current market conditions. GAAP establishes a hierarchy that prioritizes the inputs to valuation methods, giving the highest priority to readily available unadjusted quoted prices in an active market for identical assets (Level 1) and the lowest priority to significant unobservable inputs (Level 3), generally when market prices are not readily available. Based on the valuation inputs, the securities or other investments are tiered into one of three levels. Changes in valuation methods may result in transfers in or out of an investment's assigned level:

Level 1 — Prices are determined using quoted prices in an active market for identical assets.

Level 2 — Prices are determined using other significant observable inputs. Observable inputs are inputs that other market participants may use in pricing a security. These may include quoted prices for similar securities, interest rates, prepayment speeds, credit risk, yield curves, loss severities, default rates, discount rates, volatilities and others. When market movements occur after the close of the relevant foreign securities markets, foreign securities may be fair valued utilizing an independent pricing service.

Level 3 — Prices are determined using significant unobservable inputs. In situations where quoted prices or observable inputs are unavailable (for example, when there is little or no market activity for an investment at the end of the period), unobservable inputs may be used. Unobservable inputs reflect Invesco Capital Management LLC's assumptions about the factors market participants would use in determining fair value of the securities or instruments and would be based on the best available information.

The following is a summary of the tiered valuation input levels, as of July 31, 2025. The level assigned to the securities valuations may not be an indication of the risk or liquidity associated with investing in those securities. Because of the inherent uncertainties of valuation, the values reflected in the financial statements may materially differ from the value received upon actual sale of those investments.

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Level 1** | **Level 2** | **Level 3** | **Total** |
| &nbsp;&nbsp; Invesco AI and Next Gen Software ETF |  |  |  |  |
| **Investments in Securities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Common Stocks & Other Equity Interests | &nbsp;&nbsp;&nbsp; $437091080 | &nbsp;&nbsp;&nbsp; $66335512 | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $503426592 |
| &nbsp;&nbsp;&nbsp; Money Market Funds | &nbsp;&nbsp;&nbsp; 570133 | &nbsp;&nbsp;&nbsp; 77408878 | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; 77979011 |
| **Total Investments** | &nbsp;&nbsp;&nbsp; $437661213 | &nbsp;&nbsp;&nbsp; $143744390 | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $581405603 |
| &nbsp;&nbsp; Invesco Biotechnology & Genome ETF |  |  |  |  |
| **Investments in Securities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Common Stocks & Other Equity Interests | &nbsp;&nbsp;&nbsp; $225513213 | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $225513213 |
| &nbsp;&nbsp;&nbsp; Money Market Funds | &nbsp;&nbsp;&nbsp; 96263 | &nbsp;&nbsp;&nbsp; 25542865 | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; 25639128 |
| **Total Investments** | &nbsp;&nbsp;&nbsp; $225609476 | &nbsp;&nbsp;&nbsp; $25542865 | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $251152341 |
| &nbsp;&nbsp; Invesco Building & Construction ETF |  |  |  |  |
| **Investments in Securities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Common Stocks & Other Equity Interests | &nbsp;&nbsp;&nbsp; $249303972 | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $249303972 |
| &nbsp;&nbsp;&nbsp; Money Market Funds | &nbsp;&nbsp;&nbsp; 268474 | &nbsp;&nbsp;&nbsp; 12265850 | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; 12534324 |
| **Total Investments** | &nbsp;&nbsp;&nbsp; $249572446 | &nbsp;&nbsp;&nbsp; $12265850 | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $261838296 |
| &nbsp;&nbsp; Invesco Energy Exploration & Production ETF |  |  |  |  |
| **Investments in Securities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Common Stocks & Other Equity Interests | &nbsp;&nbsp;&nbsp; $69547198 | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $69547198 |
| &nbsp;&nbsp;&nbsp; Money Market Funds | &nbsp;&nbsp;&nbsp; 113173 | &nbsp;&nbsp;&nbsp; 11105387 | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; 11218560 |
| **Total Investments** | &nbsp;&nbsp;&nbsp; $69660371 | &nbsp;&nbsp;&nbsp; $11105387 | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $80765758 |
| &nbsp;&nbsp; Invesco Food & Beverage ETF |  |  |  |  |
| **Investments in Securities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Common Stocks & Other Equity Interests | &nbsp;&nbsp;&nbsp; $95509225 | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $95509225 |
| &nbsp;&nbsp;&nbsp; Money Market Funds | &nbsp;&nbsp;&nbsp; 232964 | &nbsp;&nbsp;&nbsp; 14508946 | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; 14741910 |
| **Total Investments** | &nbsp;&nbsp;&nbsp; $95742189 | &nbsp;&nbsp;&nbsp; $14508946 | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $110251135 |

---

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Level 1** | **Level 2** | **Level 3** | **Total** |
| &nbsp;&nbsp; Invesco Leisure and Entertainment ETF |  |  |  |  |
| **Investments in Securities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Common Stocks & Other Equity Interests | &nbsp;&nbsp;&nbsp; $345023252 | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $345023252 |
| &nbsp;&nbsp;&nbsp; Money Market Funds | &nbsp;&nbsp;&nbsp; 371687 | &nbsp;&nbsp;&nbsp; 43977820 | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; 44349507 |
| **Total Investments** | &nbsp;&nbsp;&nbsp; $345394939 | &nbsp;&nbsp;&nbsp; $43977820 | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $389372759 |
| &nbsp;&nbsp; Invesco Next Gen Connectivity ETF |  |  |  |  |
| **Investments in Securities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Common Stocks & Other Equity Interests | &nbsp;&nbsp;&nbsp; $25117803 | &nbsp;&nbsp;&nbsp; $8526961 | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $33644764 |
| &nbsp;&nbsp;&nbsp; Money Market Funds | &nbsp;&nbsp;&nbsp; 11592 | &nbsp;&nbsp;&nbsp; 2061905 | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; 2073497 |
| **Total Investments** | &nbsp;&nbsp;&nbsp; $25129395 | &nbsp;&nbsp;&nbsp; $10588866 | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $35718261 |
| &nbsp;&nbsp; Invesco Next Gen Media and Gaming ETF |  |  |  |  |
| **Investments in Securities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Common Stocks & Other Equity Interests | &nbsp;&nbsp;&nbsp; $122502207 | &nbsp;&nbsp;&nbsp; $30827834 | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $153330041 |
| &nbsp;&nbsp;&nbsp; Money Market Funds | &nbsp;&nbsp;&nbsp; 212769 | &nbsp;&nbsp;&nbsp; 4826112 | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; 5038881 |
| **Total Investments** | &nbsp;&nbsp;&nbsp; $122714976 | &nbsp;&nbsp;&nbsp; $35653946 | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $158368922 |
| &nbsp;&nbsp; Invesco Oil & Gas Services ETF |  |  |  |  |
| **Investments in Securities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Common Stocks & Other Equity Interests | &nbsp;&nbsp;&nbsp; $25486935 | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $25486935 |
| &nbsp;&nbsp;&nbsp; Money Market Funds | &nbsp;&nbsp;&nbsp; 121749 | &nbsp;&nbsp;&nbsp; 7048470 | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; 7170219 |
| **Total Investments** | &nbsp;&nbsp;&nbsp; $25608684 | &nbsp;&nbsp;&nbsp; $7048470 | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $32657154 |
| &nbsp;&nbsp; Invesco Pharmaceuticals ETF |  |  |  |  |
| **Investments in Securities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Common Stocks & Other Equity Interests | &nbsp;&nbsp;&nbsp; $231877225 | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $0 | &nbsp;&nbsp;&nbsp; $231877225 |
| &nbsp;&nbsp;&nbsp; Money Market Funds | &nbsp;&nbsp;&nbsp; 172957 | &nbsp;&nbsp;&nbsp; 31056231 | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; 31229188 |
| **Total Investments** | &nbsp;&nbsp;&nbsp; $232050182 | &nbsp;&nbsp;&nbsp; $31056231 | &nbsp;&nbsp;&nbsp; $0 | &nbsp;&nbsp;&nbsp; $263106413 |
| &nbsp;&nbsp; Invesco Semiconductors ETF |  |  |  |  |
| **Investments in Securities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Common Stocks & Other Equity Interests | &nbsp;&nbsp;&nbsp; $709941047 | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $709941047 |
| &nbsp;&nbsp;&nbsp; Money Market Funds | &nbsp;&nbsp;&nbsp; 123524 | &nbsp;&nbsp;&nbsp; 81909004 | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; 82032528 |
| **Total Investments** | &nbsp;&nbsp;&nbsp; $710064571 | &nbsp;&nbsp;&nbsp; $81909004 | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $791973575 |

---

------

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** Invesco Exchange-Traded Fund Trust

- **b. Investment Company Act file number:** 811-21265

- **c. CIK number of Registrant:** 0001209466

- **d. LEI of Registrant:** QPT4TMG79RF3UWNU0R52

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 3500 Lacey Road

  - **City:** Downers Grove

  - **State:** IL

  - **Foreign country:** US

  - **Zip / Postal Code:** 60515

  - **Telephone number:** 800-983-0903

**Item A.2. Information about the Series.**

- **a. Name of Series:** Invesco Leisure and Entertainment ETF

- **b. EDGAR series identifier (if any):** S000003028

- **c. LEI of Series:** 5493008OEEYFK3E4QY42

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2026-04-30

- **b. Date as of which information is reported:** 2025-07-31

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $389536053.76

**Total Liabilities:** $44306609.06

**Net Assets:** $345229444.70

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000008295 | 10.77%               | 6.87%                | 1.21%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $3704406.60              | $29416210.34                               |
| Month 2  | $-2715712.83             | $24454573.29                               |
| Month 3  | $1106234.94              | $3222189.67                                |

### Schedule of Portfolio Investments

| Name                                    | Title                                                      | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| United Airlines Holdings, Inc.          | United Airlines Holdings, Inc.                             | CUSIP: 910047109<br>LEI: 98450079DA0B78DD6764 | Long             | EC               | CORP              | US        |    205900 | NS      | $18183029.00  | 5.27%             |  |  |  | No            |                  1 | On Loan: No      |
| DoorDash, Inc.                          | DoorDash, Inc., Class A                                    | CUSIP: 25809K105<br>LEI: 549300NUQ43FGGSK5051 | Long             | EC               | CORP              | US        |     78566 | NS      | $19661141.50  | 5.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Life Time Group Holdings, Inc.          | Life Time Group Holdings, Inc.                             | CUSIP: 53190C102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    304866 | NS      | $8755751.52   | 2.54%             |  |  |  | No            |                  1 | On Loan: —       |
| BJ's Restaurants, Inc.                  | BJ's Restaurants, Inc.                                     | CUSIP: 09180C106<br>LEI: 5299000EOW66I1OJNQ23 | Long             | EC               | CORP              | US        |    197532 | NS      | $6998558.76   | 2.03%             |  |  |  | No            |                  1 | On Loan: —       |
| McDonald's Corp.                        | McDonald's Corp.                                           | CUSIP: 580135101<br>LEI: UE2136O97NLB5BYP9H04 | Long             | EC               | CORP              | US        |     51110 | NS      | $15336577.70  | 4.44%             |  |  |  | No            |                  1 | On Loan: No      |
| US Foods Holding Corp.                  | US Foods Holding Corp.                                     | CUSIP: 912008109<br>LEI: 549300UGOZSO64CFPR97 | Long             | EC               | CORP              | US        |    113160 | NS      | $9429622.80   | 2.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Brinker International, Inc.             | Brinker International, Inc.                                | CUSIP: 109641100<br>LEI: 52990067JY6PBGJNTG76 | Long             | EC               | CORP              | US        |     53171 | NS      | $8379749.60   | 2.43%             |  |  |  | No            |                  1 | On Loan: No      |
| SkyWest, Inc.                           | SkyWest, Inc.                                              | CUSIP: 830879102<br>LEI: 529900UYS2KGS6Z42P09 | Long             | EC               | CORP              | US        |     86379 | NS      | $10016508.84  | 2.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Lyft, Inc.                              | Lyft, Inc., Class A                                        | CUSIP: 55087P104<br>LEI: 549300H7I5VN334XVZ52 | Long             | EC               | CORP              | US        |    538001 | NS      | $7564294.06   | 2.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Monarch Casino & Resort, Inc.           | Monarch Casino & Resort, Inc.                              | CUSIP: 609027107<br>LEI: 549300AK5FF7KY11V997 | Long             | EC               | CORP              | US        |    104226 | NS      | $10731108.96  | 3.11%             |  |  |  | No            |                  1 | On Loan: —       |
| Darden Restaurants, Inc.                | Darden Restaurants, Inc.                                   | CUSIP: 237194105<br>LEI: CY1NFSCCB5GUXC7WZC70 | Long             | EC               | CORP              | US        |     75201 | NS      | $15165785.67  | 4.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Super Group (SGHC) Ltd.                 | Super Group (SGHC) Ltd.                                    | CUSIP: G8588X103<br>LEI: N/A                  | Long             | EC               | CORP              | GG        |   1003455 | NS      | $10787141.25  | 3.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Sportradar Group AG                     | Sportradar Group AG                                        | CUSIP: H8088L103<br>LEI: 549300H1P33YOAT7Z533 | Long             | EC               | CORP              | CH        |    368451 | NS      | $10895096.07  | 3.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Copa Holdings, S.A.                     | Copa Holdings, S.A., Class A                               | CUSIP: P31076105<br>LEI: 529900BB9UQJV6QQHA59 | Long             | EC               | CORP              | PA        |     80794 | NS      | $8940664.04   | 2.59%             |  |  |  | No            |                  1 | On Loan: —       |
| Expedia Group, Inc.                     | Expedia Group, Inc.                                        | CUSIP: 30212P303<br>LEI: CI7MUJI4USF3V0NJ1H64 | Long             | EC               | CORP              | US        |     53220 | NS      | $9591308.40   | 2.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Warner Bros. Discovery, Inc.            | Warner Bros. Discovery, Inc.                               | CUSIP: 934423104<br>LEI: 5493006ZCRFWKF6B1K26 | Long             | EC               | CORP              | US        |    919395 | NS      | $12108432.15  | 3.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Liberty Media Corp.-Liberty Formula One | Liberty Media Corp.-Liberty Formula One                    | CUSIP: 531229755<br>LEI: 549300ZKUTPIBZLWLL89 | Long             | EC               | CORP              | US        |     90798 | NS      | $9111579.30   | 2.64%             |  |  |  | No            |                  1 | On Loan: —       |
| Royal Caribbean Cruises Ltd.            | Royal Caribbean Cruises Ltd.                               | CUSIP: V7780T103<br>LEI: K2NEH8QNVW44JIWK7Z55 | Long             | EC               | CORP              | LR        |     62994 | NS      | $20023902.78  | 5.80%             |  |  |  | No            |                  1 | On Loan: —       |
| Fox Corp.                               | Fox Corp., Class A                                         | CUSIP: 35137L105<br>LEI: 549300DDU6FDRBIELS05 | Long             | EC               | CORP              | US        |    157352 | NS      | $8773947.52   | 2.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Madison Square Garden Sports Corp.      | Madison Square Garden Sports Corp., Class A                | CUSIP: 55825T103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     45902 | NS      | $9276794.20   | 2.69%             |  |  |  | No            |                  1 | On Loan: —       |
| Invesco Private Prime Fund              | Invesco Private Prime Fund                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             | PF                | US        |  31788473 | NS      | $31788473.42  | 9.21%             |  |  |  | No            |                  2 | On Loan: No      |
| Cheesecake Factory Inc. (The)           | Cheesecake Factory Inc. (The)                              | CUSIP: 163072101<br>LEI: 529900872XMLK10SY247 | Long             | EC               | CORP              | US        |    158433 | NS      | $10125453.03  | 2.93%             |  |  |  | No            |                  1 | On Loan: —       |
| Booking Holdings Inc.                   | Booking Holdings Inc.                                      | CUSIP: 09857L108<br>LEI: FXM8FAOHMYDIPD38UZ17 | Long             | EC               | CORP              | US        |      2953 | NS      | $16253489.18  | 4.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Domino's Pizza, Inc.                    | Domino's Pizza, Inc.                                       | CUSIP: 25754A201<br>LEI: 25490005ZWM1IF9UXU57 | Long             | EC               | CORP              | US        |     18118 | NS      | $8392438.78   | 2.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Maplebear Inc.                          | Maplebear Inc.                                             | CUSIP: 565394103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    186618 | NS      | $8952065.46   | 2.59%             |  |  |  | No            |                  1 | On Loan: —       |
| TKO Group Holdings, Inc.                | TKO Group Holdings, Inc.                                   | CUSIP: 87256C101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     55239 | NS      | $9280704.39   | 2.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Sysco Corp.                             | Sysco Corp.                                                | CUSIP: 871829107<br>LEI: 5RGWIFLMGH3YS7KWI652 | Long             | EC               | CORP              | US        |    222707 | NS      | $17727477.20  | 5.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Cracker Barrel Old Country Store, Inc.  | Cracker Barrel Old Country Store, Inc.                     | CUSIP: 22410J106<br>LEI: 8P4PHQIUWPIECBFBW745 | Long             | EC               | CORP              | US        |    148440 | NS      | $9203280.00   | 2.67%             |  |  |  | No            |                  1 | On Loan: —       |
| Accel Entertainment, Inc.               | Accel Entertainment, Inc.                                  | CUSIP: 00436Q106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    777011 | NS      | $9992361.46   | 2.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Invesco Government & Agency Portfolio   | Invesco Government & Agency Portfolio, Institutional Class | CUSIP: 825252885<br>LEI: 5493007T1J7WZ5QI1A47 | Long             | STIV             | RF                | US        |    371687 | NS      | $371687.11    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Live Nation Entertainment, Inc.         | Live Nation Entertainment, Inc.                            | CUSIP: 538034109<br>LEI: 5493007B9BM9ZXJINO78 | Long             | EC               | CORP              | US        |    112549 | NS      | $16623487.30  | 4.82%             |  |  |  | No            |                  1 | On Loan: —       |
| Boyd Gaming Corp.                       | Boyd Gaming Corp.                                          | CUSIP: 103304101<br>LEI: 254900787YGRYS2A1Z35 | Long             | EC               | CORP              | US        |    116542 | NS      | $9894415.80   | 2.87%             |  |  |  | No            |                  1 | On Loan: —       |
| Invesco Private Government Fund         | Invesco Private Government Fund                            | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             | PF                | US        |  12189347 | NS      | $12189346.82  | 3.53%             |  |  |  | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-08-30

**Name of Applicant:** Invesco Exchange-Traded Fund Trust

**Signature:** Adrien Deberghes

**Name of Signer:** Adrien Deberghes

**Title:** Vice President