# EDGAR Filing Document

**Accession Number:** 0001209466
**File Stem:** 0001752724-23-075850
**Filing Date:** 2023-3
**Character Count:** 139667
**Document Hash:** 1943c9926e30f3ec8af333ab73331d06
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-075850.hdr.sgml**: 20230331

**ACCESSION NUMBER**: 0001752724-23-075850

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20230131

**FILED AS OF DATE**: 20230331

**DATE AS OF CHANGE**: 20230331

**PERIOD START**: 20230430

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** INVESCO EXCHANGE-TRADED FUND TRUST
- **CENTRAL INDEX KEY:** 0001209466
- **IRS NUMBER:** 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:** 23785610

**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 Dynamic Software ETF (Series ID: S000003033)

| Class ID   | Class Name                   | Ticker Symbol   |
|:---|:---|:---|
| C000008300 | Invesco Dynamic Software ETF | PSJ             |

## Nport-Ex

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

### Invesco Dynamic Biotechnology & Genome ETF (PBE)
January 31, 2023

(Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Shares** | &nbsp;&nbsp;**Value** |
| **Common Stocks & Other Equity Interests-100.00%** | **Common Stocks & Other Equity Interests-100.00%** | **Common Stocks & Other Equity Interests-100.00%** |
| **Biotechnology-89.99%** | **Biotechnology-89.99%** | **Biotechnology-89.99%** |
| Acadia Pharmaceuticals, Inc.<sup>(b)</sup><br>| 462030 | &nbsp;&nbsp;&nbsp;&nbsp;$8792431 |
| Alkermes PLC<sup>(b)(c)</sup><br>| 298626 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8552649 |
| Amgen, Inc.<br>| &nbsp;&nbsp;44670 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11274709 |
| Amicus Therapeutics, Inc.<sup>(b)(c)</sup><br>| 642178 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8374001 |
| Avid Bioservices, Inc.<sup>(b)(c)</sup><br>| 489152 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7743276 |
| Biogen, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;42368 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12324851 |
| BioMarin Pharmaceutical, Inc.<sup>(b)</sup><br>| 145315 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16762085 |
| Catalyst Pharmaceuticals, Inc.<sup>(b)</sup><br>| 448989 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6954840 |
| Dynavax Technologies Corp.<sup>(b)(c)</sup><br>| 543461 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6184586 |
| Emergent BioSolutions, Inc.<sup>(b)(c)</sup><br>| 568161 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7494044 |
| Exelixis, Inc.<sup>(b)</sup><br>| 413942 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7293658 |
| Gilead Sciences, Inc.<br>| 153468 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12882104 |
| Halozyme Therapeutics, Inc.<sup>(b)</sup><br>| 132222 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6845133 |
| Incyte Corp.<sup>(b)</sup><br>| 165692 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14107017 |
| Ionis Pharmaceuticals, Inc.<sup>(b)(c)</sup><br>| 162445 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6476682 |
| Ironwood Pharmaceuticals, Inc.<sup>(b)(c)</sup><br>| 601352 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6927575 |
| Myriad Genetics, Inc.<sup>(b)</sup><br>| 368021 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7257374 |
| Neurocrine Biosciences, Inc.<sup>(b)</sup><br>| 106799 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11847213 |
| PTC Therapeutics, Inc.<sup>(b)(c)</sup><br>| 172918 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7935207 |
| Regeneron Pharmaceuticals, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;17421 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13213306 |
| REGENXBIO, Inc.<sup>(b)(c)</sup><br>| 322421 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7483391 |
| United Therapeutics Corp.<sup>(b)</sup><br>| &nbsp;&nbsp;26452 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6961373 |
| Veracyte, Inc.<sup>(b)</sup><br>| 269430 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6770776 |
| Vericel Corp.<sup>(b)(c)</sup><br>| 328782 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9031641 |
| Vertex Pharmaceuticals, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;40787 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13178280 |
| Xencor, Inc.<sup>(b)(c)</sup><br>| 240295 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7910511 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;240578713 |
| **Health Care Services-2.39%** | **Health Care Services-2.39%** | **Health Care Services-2.39%** |
| Fulgent Genetics, Inc.<sup>(b)(c)</sup><br>| 188926 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6381920 |
| **Life Sciences Tools & Services-5.42%** | **Life Sciences Tools & Services-5.42%** | **Life Sciences Tools & Services-5.42%** |
| QIAGEN N.V.<sup>(b)</sup><br>| 145372 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7123228 |
| Repligen Corp.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;39785 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7372161 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14495389 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | &nbsp;&nbsp;**Value** |
| **Pharmaceuticals-2.20%** | **Pharmaceuticals-2.20%** | **Pharmaceuticals-2.20%** |
| Cassava Sciences, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;210013 | &nbsp;&nbsp;&nbsp;&nbsp;$5880364 |
| &nbsp;&nbsp;&nbsp;Total Common Stocks & Other Equity Interests<br>(Cost $244,979,874) | &nbsp;&nbsp;&nbsp;Total Common Stocks & Other Equity Interests<br>(Cost $244,979,874) | &nbsp;&nbsp;267336386 |
| **Money Market Funds-0.07%** | **Money Market Funds-0.07%** | **Money Market Funds-0.07%** |
| Invesco Government & Agency Portfolio, Institutional Class, 4.30%<sup>(d)(e)</sup><br>(Cost $181,304)<br>| &nbsp;&nbsp;&nbsp;&nbsp;181304 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;181304 |
| TOTAL INVESTMENTS IN SECURITIES<br>(excluding investments purchased with cash collateral from securities on loan)-100.07%<br>(Cost $245,161,178) | TOTAL INVESTMENTS IN SECURITIES<br>(excluding investments purchased with cash collateral from securities on loan)-100.07%<br>(Cost $245,161,178) | &nbsp;&nbsp;267517690 |
| **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-18.14%** | **Money Market Funds-18.14%** | **Money Market Funds-18.14%** |
| Invesco Private Government Fund, 4.36%<sup>(d)(e)(f)</sup><br>| 13574965 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13574965 |
| Invesco Private Prime Fund, 4.59%<sup>(d)(e)(f)</sup><br>| 34907565 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34918037 |
| &nbsp;&nbsp;&nbsp;Total Investments Purchased with Cash Collateral from Securities on Loan<br>(Cost $48,491,279) | &nbsp;&nbsp;&nbsp;Total Investments Purchased with Cash Collateral from Securities on Loan<br>(Cost $48,491,279) | &nbsp;&nbsp;&nbsp;&nbsp;48493002 |
| TOTAL INVESTMENTS IN SECURITIES-118.21%<br>(Cost $293,652,457) | TOTAL INVESTMENTS IN SECURITIES-118.21%<br>(Cost $293,652,457) | &nbsp;&nbsp;316010692 |
| OTHER ASSETS LESS LIABILITIES-(18.21)% | OTHER ASSETS LESS LIABILITIES-(18.21)% | &nbsp;&nbsp;&nbsp;(48686865) |
| NET ASSETS-100.00% | NET ASSETS-100.00% | $267323827 |

---

---

| | |
|:---|:---|
| 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 the exclusive property and a service mark of MSCI Inc. and Standard & Poor's. |
| <sup>(b)</sup> | Non-income producing security. |
| <sup>(c)</sup> | All or a portion of this security was out on loan at January 31, 2023. |
| <sup>(d)</sup> | Affiliated issuer. The issuer and/or the Fund is a wholly-owned subsidiary of Invesco Ltd., or is affiliated by having an investment adviser that is under common control of Invesco Ltd. The table below shows the Fund's transactions in, and earnings from, its investments in affiliates for the nine months ended January 31, 2023. |

---

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;**Value<br> April 30, 2022** | &nbsp;&nbsp;&nbsp;**Purchases<br> at Cost** | &nbsp;&nbsp;&nbsp;**Proceeds<br> from Sales** | &nbsp;&nbsp;&nbsp;**Change in<br> Unrealized<br> Appreciation** | &nbsp;&nbsp;&nbsp;**Realized<br> Gain** | &nbsp;&nbsp;&nbsp;**Value<br> January 31, 2023** | &nbsp;&nbsp;&nbsp;**Dividend<br> Income** |
| &nbsp;&nbsp;**Investments in Affiliated Money Market Funds:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Invesco Government & Agency Portfolio, Institutional Class | &nbsp;&nbsp;&nbsp;&nbsp;$138087 | &nbsp;&nbsp;&nbsp;&nbsp;$5955513 | &nbsp;&nbsp;&nbsp;&nbsp;$(5912296) | &nbsp;&nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;&nbsp;$181304 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2250 |

---

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

------

### Invesco Dynamic Biotechnology & Genome ETF (PBE)—(continued)<br>
January 31, 2023

(Unaudited)

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;**Value<br> April 30, 2022** | &nbsp;&nbsp;&nbsp;**Purchases<br> at Cost** | &nbsp;&nbsp;&nbsp;**Proceeds<br> from Sales** | &nbsp;&nbsp;&nbsp;**Change in<br> Unrealized<br> Appreciation** | &nbsp;&nbsp;&nbsp;**Realized<br> Gain** | &nbsp;&nbsp;&nbsp;**Value<br> January 31, 2023** | &nbsp;&nbsp;&nbsp;**Dividend<br> Income** |
| &nbsp;&nbsp;**Investments Purchased with Cash Collateral from Securities on Loan:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Invesco Private Government Fund | &nbsp;&nbsp;&nbsp;$16183722 | &nbsp;&nbsp;&nbsp;$109661231 | &nbsp;&nbsp;&nbsp;$(112269988) | &nbsp;&nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;$13574965 | &nbsp;&nbsp;&nbsp;$345,217\* |
| &nbsp;&nbsp;Invesco Private Prime Fund | &nbsp;&nbsp;&nbsp;&nbsp;37737721 | &nbsp;&nbsp;&nbsp;&nbsp;228564428 | &nbsp;&nbsp;&nbsp;&nbsp;(231400267) | &nbsp;&nbsp;&nbsp;&nbsp;390 | &nbsp;&nbsp;&nbsp;&nbsp;15765 | &nbsp;&nbsp;&nbsp;&nbsp;34918037 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;944,514\* |
| &nbsp;&nbsp;Total | &nbsp;&nbsp;&nbsp;$54059530 | &nbsp;&nbsp;&nbsp;$344181172 | &nbsp;&nbsp;&nbsp;$(349582551) | &nbsp;&nbsp;&nbsp;$390 | &nbsp;&nbsp;&nbsp;$15765 | &nbsp;&nbsp;&nbsp;$48674306 | &nbsp;&nbsp;&nbsp;$1291981 |

---

\* 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.

<sup>(e)</sup> The rate shown is the 7-day SEC standardized yield as of January 31, 2023. <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><br>

### Invesco Dynamic Building & Construction ETF (PKB)
January 31, 2023

(Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Shares** | &nbsp;&nbsp;**Value** |
| **Common Stocks & Other Equity Interests-99.99%** | **Common Stocks & Other Equity Interests-99.99%** | **Common Stocks & Other Equity Interests-99.99%** |
| **Building Products-12.29%** | **Building Products-12.29%** | **Building Products-12.29%** |
| Apogee Enterprises, Inc.<br>| &nbsp;&nbsp;59706 | &nbsp;&nbsp;$2796629 |
| Carlisle Cos., Inc.<br>| &nbsp;&nbsp;20707 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5194558 |
| Janus International Group, Inc.<sup>(b)(c)</sup><br>| 269502 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2964522 |
| Owens Corning<br>| &nbsp;&nbsp;31453 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3039933 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;13995642 |
| **Construction & Engineering-9.43%** | **Construction & Engineering-9.43%** | **Construction & Engineering-9.43%** |
| Comfort Systems USA, Inc.<br>| &nbsp;&nbsp;22634 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2739619 |
| Dycom Industries, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;25738 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2454633 |
| EMCOR Group, Inc.<br>| &nbsp;&nbsp;18233 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2703042 |
| Valmont Industries, Inc.<br>| &nbsp;&nbsp;&nbsp;&nbsp;8628 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2844911 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;10742205 |
| **Construction Materials-14.89%** | **Construction Materials-14.89%** | **Construction Materials-14.89%** |
| Eagle Materials, Inc.<br>| &nbsp;&nbsp;21655 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3163362 |
| Martin Marietta Materials, Inc.<br>| &nbsp;&nbsp;14574 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5241393 |
| Summit Materials, Inc., Class A<sup>(b)(c)</sup><br>| &nbsp;&nbsp;98517 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3237269 |
| Vulcan Materials Co.<br>| &nbsp;&nbsp;29026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5321337 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;16963361 |
| **Electrical Components & Equipment-1.87%** | **Electrical Components & Equipment-1.87%** | **Electrical Components & Equipment-1.87%** |
| SunPower Corp.<sup>(b)(c)</sup><br>| 122039 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2127140 |
| **Forest Products-2.75%** | **Forest Products-2.75%** | **Forest Products-2.75%** |
| Louisiana-Pacific Corp.<sup>(c)</sup><br>| &nbsp;&nbsp;45937 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3127850 |
| **Gas Utilities-2.49%** | **Gas Utilities-2.49%** | **Gas Utilities-2.49%** |
| Southwest Gas Holdings, Inc.<br>| &nbsp;&nbsp;42402 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2837966 |
| **Home Improvement Retail-9.24%** | **Home Improvement Retail-9.24%** | **Home Improvement Retail-9.24%** |
| Home Depot, Inc. (The)<br>| &nbsp;&nbsp;16582 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5375387 |
| Lowe's Cos., Inc.<br>| &nbsp;&nbsp;24734 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5150855 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;10526242 |
| **Homebuilding-37.11%** | **Homebuilding-37.11%** | **Homebuilding-37.11%** |
| Cavco Industries, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;13774 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3665261 |
| Green Brick Partners, Inc.<sup>(b)(c)</sup><br>| 123314 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3847397 |
| Installed Building Products, Inc.<sup>(c)</sup><br>| &nbsp;&nbsp;36269 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3992854 |
| Lennar Corp., Class A<br>| &nbsp;&nbsp;61303 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6277427 |
| M/I Homes, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;65429 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3912654 |
| Meritage Homes Corp.<sup>(b)</sup><br>| &nbsp;&nbsp;34826 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3750412 |
| NVR, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;1180 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6218600 |
| Skyline Champion Corp.<sup>(b)</sup><br>| &nbsp;&nbsp;57406 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3384084 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | &nbsp;&nbsp;**Value** |
| **Homebuilding-(continued)** | **Homebuilding-(continued)** | **Homebuilding-(continued)** |
| Taylor Morrison Home Corp., Class A<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;102625 | &nbsp;&nbsp;&nbsp;&nbsp;$3673975 |
| Tri Pointe Homes, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;160210 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3539039 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42261703 |
| **Research & Consulting Services-2.28%** | **Research & Consulting Services-2.28%** | **Research & Consulting Services-2.28%** |
| NV5 Global, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19447 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2592091 |
| **Specialized Consumer Services-2.91%** | **Specialized Consumer Services-2.91%** | **Specialized Consumer Services-2.91%** |
| frontdoor, inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;121829 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3311312 |
| **Specialty Stores-4.73%** | **Specialty Stores-4.73%** | **Specialty Stores-4.73%** |
| Tractor Supply Co.<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23620 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5385124 |
| &nbsp;&nbsp;&nbsp;Total Common Stocks & Other Equity Interests<br>(Cost $106,548,181) | &nbsp;&nbsp;&nbsp;Total Common Stocks & Other Equity Interests<br>(Cost $106,548,181) | &nbsp;&nbsp;113870636 |
| **Money Market Funds-0.09%** | **Money Market Funds-0.09%** | **Money Market Funds-0.09%** |
| Invesco Government & Agency Portfolio, Institutional Class, 4.30%<sup>(d)(e)</sup><br>(Cost $102,610)<br>| &nbsp;&nbsp;&nbsp;&nbsp;102610 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;102610 |
| TOTAL INVESTMENTS IN SECURITIES<br>(excluding investments purchased with cash collateral from securities on loan)-100.08%<br>(Cost $106,650,791) | TOTAL INVESTMENTS IN SECURITIES<br>(excluding investments purchased with cash collateral from securities on loan)-100.08%<br>(Cost $106,650,791) | &nbsp;&nbsp;113973246 |
| **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-15.27%** | **Money Market Funds-15.27%** | **Money Market Funds-15.27%** |
| Invesco Private Government Fund, 4.36%<sup>(d)(e)(f)</sup><br>| &nbsp;&nbsp;4867229 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4867229 |
| Invesco Private Prime Fund, 4.59%<sup>(d)(e)(f)</sup><br>| 12514427 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12518181 |
| &nbsp;&nbsp;&nbsp;Total Investments Purchased with Cash Collateral from Securities on Loan<br>(Cost $17,384,566) | &nbsp;&nbsp;&nbsp;Total Investments Purchased with Cash Collateral from Securities on Loan<br>(Cost $17,384,566) | &nbsp;&nbsp;&nbsp;&nbsp;17385410 |
| TOTAL INVESTMENTS IN SECURITIES-115.35%<br>(Cost $124,035,357) | TOTAL INVESTMENTS IN SECURITIES-115.35%<br>(Cost $124,035,357) | &nbsp;&nbsp;131358656 |
| OTHER ASSETS LESS LIABILITIES-(15.35)% | OTHER ASSETS LESS LIABILITIES-(15.35)% | &nbsp;&nbsp;&nbsp;(17479873) |
| NET ASSETS-100.00% | NET ASSETS-100.00% | $113878783 |

---

---

| | |
|:---|:---|
| 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 the exclusive property and a service mark of MSCI Inc. and Standard & Poor's. |
| <sup>(b)</sup> | Non-income producing security. |
| <sup>(c)</sup> | All or a portion of this security was out on loan at January 31, 2023. |
| <sup>(d)</sup> | Affiliated issuer. The issuer and/or the Fund is a wholly-owned subsidiary of Invesco Ltd., or is affiliated by having an investment adviser that is under common control of Invesco Ltd. The table below shows the Fund's transactions in, and earnings from, its investments in affiliates for the nine months ended January 31, 2023. |

---

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;**Value<br> April 30, 2022** | &nbsp;&nbsp;&nbsp;**Purchases<br> at Cost** | &nbsp;&nbsp;&nbsp;**Proceeds<br> from Sales** | &nbsp;&nbsp;&nbsp;**Change in<br> Unrealized<br> Appreciation** | &nbsp;&nbsp;&nbsp;**Realized<br> Gain** | &nbsp;&nbsp;&nbsp;**Value<br> January 31, 2023** | &nbsp;&nbsp;&nbsp;**Dividend<br> Income** |
| &nbsp;&nbsp;**Investments in Affiliated Money Market Funds:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Invesco Government & Agency Portfolio, Institutional Class | &nbsp;&nbsp;&nbsp;$142552 | &nbsp;&nbsp;&nbsp;&nbsp;$7375785 | &nbsp;&nbsp;&nbsp;&nbsp;$(7415727) | &nbsp;&nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;&nbsp;$102610 | &nbsp;&nbsp;&nbsp;&nbsp;$3381 |

---

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

------

### Invesco Dynamic Building & Construction ETF (PKB)—(continued)<br>
January 31, 2023

(Unaudited)

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;**Value<br> April 30, 2022** | &nbsp;&nbsp;&nbsp;**Purchases<br> at Cost** | &nbsp;&nbsp;&nbsp;**Proceeds<br> from Sales** | &nbsp;&nbsp;&nbsp;**Change in<br> Unrealized<br> Appreciation** | &nbsp;&nbsp;&nbsp;**Realized<br> Gain** | &nbsp;&nbsp;&nbsp;**Value<br> January 31, 2023** | &nbsp;&nbsp;&nbsp;**Dividend<br> Income** |
| &nbsp;&nbsp;**Investments Purchased with Cash Collateral from Securities on Loan:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Invesco Private Government Fund | &nbsp;&nbsp;&nbsp;$834839 | &nbsp;&nbsp;&nbsp;$34175758 | &nbsp;&nbsp;&nbsp;$(30143368) | &nbsp;&nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;$4867229 | &nbsp;&nbsp;&nbsp;$85,491\* |
| &nbsp;&nbsp;Invesco Private Prime Fund | &nbsp;&nbsp;&nbsp;&nbsp;1948889 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84858388 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(74292464) | &nbsp;&nbsp;&nbsp;&nbsp;844 | &nbsp;&nbsp;&nbsp;&nbsp;2524 | &nbsp;&nbsp;&nbsp;&nbsp;12518181 | &nbsp;&nbsp;&nbsp;&nbsp;232,858\* |
| &nbsp;&nbsp;Total | &nbsp;&nbsp;&nbsp;$2926280 | &nbsp;&nbsp;&nbsp;$126409931 | &nbsp;&nbsp;&nbsp;$(111851559) | &nbsp;&nbsp;&nbsp;$844 | &nbsp;&nbsp;&nbsp;$2524 | &nbsp;&nbsp;&nbsp;$17488020 | &nbsp;&nbsp;&nbsp;$321730 |

---

\* 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.

<sup>(e)</sup> The rate shown is the 7-day SEC standardized yield as of January 31, 2023. <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><br>

### Invesco Dynamic Energy Exploration & Production ETF (PXE)
January 31, 2023

(Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Shares** | &nbsp;&nbsp;**Value** |
| **Common Stocks & Other Equity Interests-99.99%** | **Common Stocks & Other Equity Interests-99.99%** | **Common Stocks & Other Equity Interests-99.99%** |
| **Gas Utilities-2.70%** | **Gas Utilities-2.70%** | **Gas Utilities-2.70%** |
| National Fuel Gas Co.<br>| &nbsp;&nbsp;&nbsp;142535 | &nbsp;&nbsp;&nbsp;&nbsp;$8275582 |
| **Integrated Oil & Gas-4.95%** | **Integrated Oil & Gas-4.95%** | **Integrated Oil & Gas-4.95%** |
| Occidental Petroleum Corp.<br>| &nbsp;&nbsp;&nbsp;234141 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15169995 |
| **Oil & Gas Exploration & Production-65.87%** | **Oil & Gas Exploration & Production-65.87%** | **Oil & Gas Exploration & Production-65.87%** |
| Antero Resources Corp.<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;266302 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7680150 |
| APA Corp.<br>| &nbsp;&nbsp;&nbsp;196371 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8705126 |
| California Resources Corp.<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;199117 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8508269 |
| Callon Petroleum Co.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp;214966 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9146803 |
| Chord Energy Corp.<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;58694 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8412611 |
| Civitas Resources, Inc.<br>| &nbsp;&nbsp;&nbsp;139854 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9307284 |
| Comstock Resources, Inc.<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;517311 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6285329 |
| ConocoPhillips<br>| &nbsp;&nbsp;&nbsp;130497 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15903669 |
| Devon Energy Corp.<br>| &nbsp;&nbsp;&nbsp;239629 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15154138 |
| Diamondback Energy, Inc.<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;58248 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8511198 |
| EOG Resources, Inc.<br>| &nbsp;&nbsp;&nbsp;119749 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15836805 |
| Marathon Oil Corp.<br>| &nbsp;&nbsp;&nbsp;295440 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8115737 |
| Matador Resources Co.<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;134447 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8895014 |
| Ovintiv, Inc.<br>| &nbsp;&nbsp;&nbsp;167091 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8225890 |
| PDC Energy, Inc.<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;120681 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8173724 |
| Pioneer Natural Resources Co.<br>| &nbsp;&nbsp;&nbsp;&nbsp;68306 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15734287 |
| SM Energy Co.<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;204944 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6736509 |
| Southwestern Energy Co.<sup>(b)</sup><br>| 1370411 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7564669 |
| Talos Energy, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp;453393 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8981715 |
| Vital Energy, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp;144270 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8119516 |
| W&T Offshore, Inc.<sup>(b)(c)</sup><br>| 1278024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7949309 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;201947752 |
| **Oil & Gas Refining & Marketing-26.47%** | **Oil & Gas Refining & Marketing-26.47%** | **Oil & Gas Refining & Marketing-26.47%** |
| CVR Energy, Inc.<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;226590 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7522788 |
| Delek US Holdings, Inc.<br>| &nbsp;&nbsp;&nbsp;267320 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7153483 |
| HF Sinclair Corp.<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;142807 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8125718 |
| Marathon Petroleum Corp.<br>| &nbsp;&nbsp;&nbsp;137667 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17692963 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | &nbsp;&nbsp;**Value** |
| **Oil & Gas Refining & Marketing-(continued)** | **Oil & Gas Refining & Marketing-(continued)** | **Oil & Gas Refining & Marketing-(continued)** |
| PBF Energy, Inc., Class A<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;198500 | &nbsp;&nbsp;&nbsp;&nbsp;$8335015 |
| Phillips 66<br>| &nbsp;&nbsp;&nbsp;&nbsp;153070 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15348329 |
| Valero Energy Corp.<br>| &nbsp;&nbsp;&nbsp;&nbsp;121216 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16973877 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81152173 |
| &nbsp;&nbsp;&nbsp;Total Common Stocks & Other Equity Interests<br>(Cost $311,062,722) | &nbsp;&nbsp;&nbsp;Total Common Stocks & Other Equity Interests<br>(Cost $311,062,722) | &nbsp;&nbsp;306545502 |
| **Money Market Funds-0.07%** | **Money Market Funds-0.07%** | **Money Market Funds-0.07%** |
| Invesco Government & Agency Portfolio, Institutional Class, 4.30%<sup>(d)(e)</sup><br>(Cost $203,254)<br>| &nbsp;&nbsp;&nbsp;&nbsp;203254 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;203254 |
| TOTAL INVESTMENTS IN SECURITIES<br>(excluding investments purchased with cash collateral from securities on loan)-100.06%<br>(Cost $311,265,976) | TOTAL INVESTMENTS IN SECURITIES<br>(excluding investments purchased with cash collateral from securities on loan)-100.06%<br>(Cost $311,265,976) | &nbsp;&nbsp;306748756 |
| **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-13.90%** | **Money Market Funds-13.90%** | **Money Market Funds-13.90%** |
| Invesco Private Government Fund, 4.36%<sup>(d)(e)(f)</sup><br>| 11933674 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11933674 |
| Invesco Private Prime Fund, 4.59%<sup>(d)(e)(f)</sup><br>| 30682973 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30692178 |
| &nbsp;&nbsp;&nbsp;Total Investments Purchased with Cash Collateral from Securities on Loan<br>(Cost $42,625,615) | &nbsp;&nbsp;&nbsp;Total Investments Purchased with Cash Collateral from Securities on Loan<br>(Cost $42,625,615) | &nbsp;&nbsp;&nbsp;&nbsp;42625852 |
| TOTAL INVESTMENTS IN SECURITIES-113.96%<br>(Cost $353,891,591) | TOTAL INVESTMENTS IN SECURITIES-113.96%<br>(Cost $353,891,591) | &nbsp;&nbsp;349374608 |
| OTHER ASSETS LESS LIABILITIES-(13.96)% | OTHER ASSETS LESS LIABILITIES-(13.96)% | &nbsp;&nbsp;&nbsp;(42800406) |
| NET ASSETS-100.00% | NET ASSETS-100.00% | $306574202 |

---

---

| | |
|:---|:---|
| 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 the exclusive property and a service mark of MSCI Inc. and Standard & Poor's. |
| <sup>(b)</sup> | Non-income producing security. |
| <sup>(c)</sup> | All or a portion of this security was out on loan at January 31, 2023. |
| <sup>(d)</sup> | Affiliated issuer. The issuer and/or the Fund is a wholly-owned subsidiary of Invesco Ltd., or is affiliated by having an investment adviser that is under common control of Invesco Ltd. The table below shows the Fund's transactions in, and earnings from, its investments in affiliates for the nine months ended January 31, 2023. |

---

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;**Value<br> April 30, 2022** | &nbsp;&nbsp;&nbsp;**Purchases<br> at Cost** | &nbsp;&nbsp;&nbsp;**Proceeds<br> from Sales** | &nbsp;&nbsp;&nbsp;**Change in<br> Unrealized<br> Appreciation<br> (Depreciation)** | &nbsp;&nbsp;&nbsp;**Realized<br> Gain** | &nbsp;&nbsp;&nbsp;**Value<br> January 31, 2023** | &nbsp;&nbsp;&nbsp;**Dividend<br> Income** |
| &nbsp;&nbsp;**Investments in Affiliated Money Market Funds:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Invesco Government & Agency Portfolio, Institutional Class | &nbsp;&nbsp;&nbsp;&nbsp;$340711 | &nbsp;&nbsp;&nbsp;$21915001 | &nbsp;&nbsp;&nbsp;$(22052458) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;&nbsp;$203254 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$4591 |
| &nbsp;&nbsp;**Investments Purchased with Cash Collateral from Securities on Loan:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Invesco Private Government Fund | &nbsp;&nbsp;&nbsp;&nbsp;11513827 | &nbsp;&nbsp;&nbsp;&nbsp;143146064 | &nbsp;&nbsp;&nbsp;&nbsp;(142726217) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;11933674 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;269,308\* |
| &nbsp;&nbsp;Invesco Private Prime Fund | &nbsp;&nbsp;&nbsp;&nbsp;26845754 | &nbsp;&nbsp;&nbsp;&nbsp;379816126 | &nbsp;&nbsp;&nbsp;&nbsp;(375973735) | &nbsp;&nbsp;&nbsp;&nbsp;(2267) | &nbsp;&nbsp;&nbsp;&nbsp;6300 | &nbsp;&nbsp;&nbsp;&nbsp;30692178 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;737,463\* |
| &nbsp;&nbsp;Total | &nbsp;&nbsp;&nbsp;$38700292 | &nbsp;&nbsp;&nbsp;$544877191 | &nbsp;&nbsp;&nbsp;$(540752410) | &nbsp;&nbsp;&nbsp;$(2267) | &nbsp;&nbsp;&nbsp;$6300 | &nbsp;&nbsp;&nbsp;$42829106 | &nbsp;&nbsp;&nbsp;$1011362 |

---

\* 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.

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

------

### Invesco Dynamic Energy Exploration & Production ETF (PXE)—(continued)<br>
January 31, 2023

(Unaudited)

<sup>(e)</sup> The rate shown is the 7-day SEC standardized yield as of January 31, 2023. <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><br>

### Invesco Dynamic Food & Beverage ETF (PBJ)
January 31, 2023

(Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Shares** | &nbsp;&nbsp;**Value** |
| **Common Stocks & Other Equity Interests-100.01%** | **Common Stocks & Other Equity Interests-100.01%** | **Common Stocks & Other Equity Interests-100.01%** |
| **Agricultural Products-7.31%** | **Agricultural Products-7.31%** | **Agricultural Products-7.31%** |
| Archer-Daniels-Midland Co.<br>| 187753 | &nbsp;&nbsp;$15555336 |
| Fresh Del Monte Produce, Inc.<br>| 356031 | &nbsp;&nbsp;&nbsp;&nbsp;10182487 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;25737823 |
| **Brewers-2.72%** | **Brewers-2.72%** | **Brewers-2.72%** |
| Molson Coors Beverage Co., Class B<br>| 182146 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9577237 |
| **Distillers & Vintners-2.25%** | **Distillers & Vintners-2.25%** | **Distillers & Vintners-2.25%** |
| MGP Ingredients, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;81297 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7929709 |
| **Food Distributors-16.27%** | **Food Distributors-16.27%** | **Food Distributors-16.27%** |
| Chefs' Warehouse, Inc. (The)<sup>(b)(c)</sup><br>| 266103 | &nbsp;&nbsp;&nbsp;&nbsp;10173118 |
| Performance Food Group Co.<sup>(c)</sup><br>| 167230 | &nbsp;&nbsp;&nbsp;&nbsp;10254543 |
| SpartanNash Co.<br>| 305191 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9668451 |
| Sysco Corp.<br>| 210028 | &nbsp;&nbsp;&nbsp;&nbsp;16268769 |
| US Foods Holding Corp.<sup>(c)</sup><br>| 286863 | &nbsp;&nbsp;&nbsp;&nbsp;10938086 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;57302967 |
| **Food Retail-15.72%** | **Food Retail-15.72%** | **Food Retail-15.72%** |
| Albertsons Cos., Inc., Class A<br>| 474877 | &nbsp;&nbsp;&nbsp;&nbsp;10067392 |
| Ingles Markets, Inc., Class A<br>| 100162 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9515390 |
| Kroger Co. (The)<br>| 370178 | &nbsp;&nbsp;&nbsp;&nbsp;16521044 |
| Sprouts Farmers Market, Inc.<sup>(b)(c)</sup><br>| 296550 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9474773 |
| Weis Markets, Inc.<sup>(b)</sup><br>| 113582 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9806670 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;55385269 |
| **Packaged Foods & Meats-39.72%** | **Packaged Foods & Meats-39.72%** | **Packaged Foods & Meats-39.72%** |
| Cal-Maine Foods, Inc.<br>| 182308 | &nbsp;&nbsp;&nbsp;&nbsp;10431664 |
| Campbell Soup Co.<br>| 188999 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9814718 |
| General Mills, Inc.<br>| 220469 | &nbsp;&nbsp;&nbsp;&nbsp;17275951 |
| Hershey Co. (The)<br>| &nbsp;&nbsp;79325 | &nbsp;&nbsp;&nbsp;&nbsp;17816395 |
| Hostess Brands, Inc.<sup>(b)(c)</sup><br>| 361583 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8363415 |
| Kellogg Co.<br>| 138001 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9464109 |
| Kraft Heinz Co. (The)<br>| 468895 | &nbsp;&nbsp;&nbsp;&nbsp;19004314 |
| Lamb Weston Holdings, Inc.<br>| 115977 | &nbsp;&nbsp;&nbsp;&nbsp;11584942 |
| Pilgrim's Pride Corp.<sup>(b)(c)</sup><br>| 384700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9340516 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | &nbsp;&nbsp;**Value** |
| **Packaged Foods & Meats-(continued)** | **Packaged Foods & Meats-(continued)** | **Packaged Foods & Meats-(continued)** |
| Post Holdings, Inc.<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;109555 | &nbsp;&nbsp;$10402247 |
| SunOpta, Inc. (Canada)<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;778937 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6363915 |
| Tootsie Roll Industries, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;224172 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10027214 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;139889400 |
| **Restaurants-6.45%** | **Restaurants-6.45%** | **Restaurants-6.45%** |
| Arcos Dorados Holdings, Inc., Class A (Brazil)<br>| &nbsp;&nbsp;1336699 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11361941 |
| Yum China Holdings, Inc. (China)<br>| &nbsp;&nbsp;&nbsp;&nbsp;184516 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11368031 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22729972 |
| **Soft Drinks-9.57%** | **Soft Drinks-9.57%** | **Soft Drinks-9.57%** |
| Keurig Dr Pepper, Inc.<br>| &nbsp;&nbsp;&nbsp;&nbsp;477418 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16843307 |
| PepsiCo, Inc.<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98522 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16849233 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33692540 |
| TOTAL INVESTMENTS IN SECURITIES<br>(excluding investments purchased with cash collateral from securities on loan)-100.01%<br>(Cost $342,748,618) | TOTAL INVESTMENTS IN SECURITIES<br>(excluding investments purchased with cash collateral from securities on loan)-100.01%<br>(Cost $342,748,618) | &nbsp;&nbsp;352244917 |
| **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-6.61%** | **Money Market Funds-6.61%** | **Money Market Funds-6.61%** |
| Invesco Private Government Fund, 4.36%<sup>(d)(e)(f)</sup><br>| &nbsp;&nbsp;6519587 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6519587 |
| Invesco Private Prime Fund, 4.59%<sup>(d)(e)(f)</sup><br>| 16762603 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16767631 |
| &nbsp;&nbsp;&nbsp;Total Investments Purchased with Cash Collateral from Securities on Loan<br>(Cost $23,286,478) | &nbsp;&nbsp;&nbsp;Total Investments Purchased with Cash Collateral from Securities on Loan<br>(Cost $23,286,478) | &nbsp;&nbsp;&nbsp;&nbsp;23287218 |
| TOTAL INVESTMENTS IN SECURITIES-106.62%<br>(Cost $366,035,096) | TOTAL INVESTMENTS IN SECURITIES-106.62%<br>(Cost $366,035,096) | &nbsp;&nbsp;375532135 |
| OTHER ASSETS LESS LIABILITIES-(6.62)% | OTHER ASSETS LESS LIABILITIES-(6.62)% | &nbsp;&nbsp;&nbsp;(23323462) |
| NET ASSETS-100.00% | NET ASSETS-100.00% | $352208673 |

---

---

| | |
|:---|:---|
| 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 the exclusive property and a service mark of MSCI Inc. and Standard & Poor's. |
| <sup>(b)</sup> | All or a portion of this security was out on loan at January 31, 2023. |
| <sup>(c)</sup> | Non-income producing security. |
| <sup>(d)</sup> | Affiliated issuer. The issuer and/or the Fund is a wholly-owned subsidiary of Invesco Ltd., or is affiliated by having an investment adviser that is under common control of Invesco Ltd. The table below shows the Fund's transactions in, and earnings from, its investments in affiliates for the nine months ended January 31, 2023. |

---

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;**Value<br> April 30, 2022** | &nbsp;&nbsp;&nbsp;**Purchases<br> at Cost** | &nbsp;&nbsp;&nbsp;**Proceeds<br> from Sales** | &nbsp;&nbsp;&nbsp;**Change in<br> Unrealized<br> Appreciation** | &nbsp;&nbsp;&nbsp;**Realized<br> Gain** | &nbsp;&nbsp;&nbsp;**Value<br> January 31, 2023** | &nbsp;&nbsp;&nbsp;**Dividend<br> Income** |
| &nbsp;&nbsp;**Investments in Affiliated Money Market Funds:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Invesco Government & Agency Portfolio, Institutional Class | &nbsp;&nbsp;&nbsp;&nbsp;$364851 | &nbsp;&nbsp;&nbsp;$17525113 | &nbsp;&nbsp;&nbsp;$(17889964) | &nbsp;&nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;&nbsp;$2463 |
| &nbsp;&nbsp;**Investments Purchased with Cash Collateral from Securities on Loan:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Invesco Private Government Fund | &nbsp;&nbsp;&nbsp;&nbsp;11654821 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74987254 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(80122488) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6519587 | &nbsp;&nbsp;&nbsp;&nbsp;192,882\* |
| &nbsp;&nbsp;Invesco Private Prime Fund | &nbsp;&nbsp;&nbsp;&nbsp;27185071 | &nbsp;&nbsp;&nbsp;&nbsp;153868264 | &nbsp;&nbsp;&nbsp;&nbsp;(164298064) | &nbsp;&nbsp;&nbsp;&nbsp;740 | &nbsp;&nbsp;&nbsp;&nbsp;11620 | &nbsp;&nbsp;&nbsp;&nbsp;16767631 | &nbsp;&nbsp;&nbsp;&nbsp;534,267\* |
| &nbsp;&nbsp;Total | &nbsp;&nbsp;&nbsp;$39204743 | &nbsp;&nbsp;&nbsp;$246380631 | &nbsp;&nbsp;&nbsp;$(262310516) | &nbsp;&nbsp;&nbsp;$740 | &nbsp;&nbsp;&nbsp;$11620 | &nbsp;&nbsp;&nbsp;$23287218 | &nbsp;&nbsp;&nbsp;$729612 |

---

\* 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.

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

------

### Invesco Dynamic Food & Beverage ETF (PBJ)—(continued)<br>
January 31, 2023

(Unaudited)

<sup>(e)</sup> The rate shown is the 7-day SEC standardized yield as of January 31, 2023. <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><br>

### Invesco Dynamic Leisure and Entertainment ETF (PEJ)
January 31, 2023

(Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Shares** | &nbsp;&nbsp;**Value** |
| **Common Stocks & Other Equity Interests-100.03%** | **Common Stocks & Other Equity Interests-100.03%** | **Common Stocks & Other Equity Interests-100.03%** |
| **Airlines-10.01%** | **Airlines-10.01%** | **Airlines-10.01%** |
| Copa Holdings S.A., Class A (Panama)<sup>(b)(c)</sup><br>| 153041 | &nbsp;&nbsp;$14092015 |
| Southwest Airlines Co.<br>| 596257 | &nbsp;&nbsp;&nbsp;&nbsp;21328113 |
| United Airlines Holdings, Inc.<sup>(b)</sup><br>| 283313 | &nbsp;&nbsp;&nbsp;&nbsp;13871005 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;49291133 |
| **Broadcasting-5.89%** | **Broadcasting-5.89%** | **Broadcasting-5.89%** |
| Fox Corp., Class A<br>| 401428 | &nbsp;&nbsp;&nbsp;&nbsp;13624466 |
| Paramount Global, Class B<sup>(c)</sup><br>| 664774 | &nbsp;&nbsp;&nbsp;&nbsp;15396166 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;29020632 |
| **Casinos & Gaming-15.70%** | **Casinos & Gaming-15.70%** | **Casinos & Gaming-15.70%** |
| Boyd Gaming Corp.<br>| 205456 | &nbsp;&nbsp;&nbsp;&nbsp;12801963 |
| Churchill Downs, Inc.<br>| &nbsp;&nbsp;55851 | &nbsp;&nbsp;&nbsp;&nbsp;13856633 |
| International Game Technology PLC<sup>(c)</sup><br>| 507368 | &nbsp;&nbsp;&nbsp;&nbsp;13419883 |
| Light & Wonder, Inc.<sup>(b)(c)</sup><br>| 192027 | &nbsp;&nbsp;&nbsp;&nbsp;12529762 |
| Monarch Casino & Resort, Inc.<sup>(b)(c)</sup><br>| 150137 | &nbsp;&nbsp;&nbsp;&nbsp;11503497 |
| Red Rock Resorts, Inc., Class A<br>| 293962 | &nbsp;&nbsp;&nbsp;&nbsp;13231230 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;77342968 |
| **Food Distributors-7.03%** | **Food Distributors-7.03%** | **Food Distributors-7.03%** |
| Sysco Corp.<br>| 267315 | &nbsp;&nbsp;&nbsp;&nbsp;20706220 |
| US Foods Holding Corp.<sup>(b)</sup><br>| 365473 | &nbsp;&nbsp;&nbsp;&nbsp;13935485 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;34641705 |
| **Hotels, Resorts & Cruise Lines-13.46%** | **Hotels, Resorts & Cruise Lines-13.46%** | **Hotels, Resorts & Cruise Lines-13.46%** |
| Hilton Grand Vacations, Inc.<sup>(b)</sup><br>| 294628 | &nbsp;&nbsp;&nbsp;&nbsp;13953582 |
| Hyatt Hotels Corp., Class A<sup>(b)(c)</sup><br>| 129575 | &nbsp;&nbsp;&nbsp;&nbsp;14139224 |
| Marriott International, Inc., Class A<br>| 140548 | &nbsp;&nbsp;&nbsp;&nbsp;24480651 |
| Marriott Vacations Worldwide Corp.<sup>(c)</sup><br>| &nbsp;&nbsp;85874 | &nbsp;&nbsp;&nbsp;&nbsp;13743275 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;66316732 |
| **Interactive Media & Services-2.95%** | **Interactive Media & Services-2.95%** | **Interactive Media & Services-2.95%** |
| TripAdvisor, Inc.<sup>(b)(c)</sup><br>| 623589 | &nbsp;&nbsp;&nbsp;&nbsp;14529624 |
| **Movies & Entertainment-14.51%** | **Movies & Entertainment-14.51%** | **Movies & Entertainment-14.51%** |
| Liberty Media Corp.-Liberty Formula One, Class C<sup>(b)</sup><br>| 214954 | &nbsp;&nbsp;&nbsp;&nbsp;15218743 |
| Live Nation Entertainment, Inc.<sup>(b)(c)</sup><br>| 343442 | &nbsp;&nbsp;&nbsp;&nbsp;27643646 |
| Madison Square Garden Sports Corp., Class A<br>| &nbsp;&nbsp;83540 | &nbsp;&nbsp;&nbsp;&nbsp;15190914 |
| World Wrestling Entertainment, Inc., Class A<sup>(c)</sup><br>| 158382 | &nbsp;&nbsp;&nbsp;&nbsp;13402285 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;71455588 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | &nbsp;&nbsp;**Value** |
| **Restaurants-30.48%** | **Restaurants-30.48%** | **Restaurants-30.48%** |
| Arcos Dorados Holdings, Inc., Class A (Brazil)<br>| &nbsp;&nbsp;1702811 | &nbsp;&nbsp;$14473893 |
| Bloomin' Brands, Inc.<br>| &nbsp;&nbsp;&nbsp;&nbsp;529204 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12833197 |
| Chipotle Mexican Grill, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15142 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24929486 |
| Darden Restaurants, Inc.<br>| &nbsp;&nbsp;&nbsp;&nbsp;154381 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22843757 |
| First Watch Restaurant Group, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;838989 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13591622 |
| McDonald's Corp.<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83230 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22255702 |
| Texas Roadhouse, Inc.<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;126649 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12719359 |
| Yum China Holdings, Inc. (China)<br>| &nbsp;&nbsp;&nbsp;&nbsp;430469 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26521195 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;150168211 |
| &nbsp;&nbsp;&nbsp;Total Common Stocks & Other Equity Interests<br>(Cost $482,892,150) | &nbsp;&nbsp;&nbsp;Total Common Stocks & Other Equity Interests<br>(Cost $482,892,150) | &nbsp;&nbsp;492766593 |
| **Money Market Funds-0.02%** | **Money Market Funds-0.02%** | **Money Market Funds-0.02%** |
| Invesco Government & Agency Portfolio, Institutional Class, 4.30%<sup>(d)(e)</sup><br>(Cost $89,912)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89912 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89912 |
| TOTAL INVESTMENTS IN SECURITIES<br>(excluding investments purchased with cash collateral from securities on loan)-100.05%<br>(Cost $482,982,062) | TOTAL INVESTMENTS IN SECURITIES<br>(excluding investments purchased with cash collateral from securities on loan)-100.05%<br>(Cost $482,982,062) | &nbsp;&nbsp;492856505 |
| **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-18.21%** | **Money Market Funds-18.21%** | **Money Market Funds-18.21%** |
| Invesco Private Government Fund, 4.36%<sup>(d)(e)(f)</sup><br>| 25113545 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25113545 |
| Invesco Private Prime Fund, 4.59%<sup>(d)(e)(f)</sup><br>| 64571997 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64591368 |
| &nbsp;&nbsp;&nbsp;Total Investments Purchased with Cash Collateral from Securities on Loan<br>(Cost $89,703,725) | &nbsp;&nbsp;&nbsp;Total Investments Purchased with Cash Collateral from Securities on Loan<br>(Cost $89,703,725) | &nbsp;&nbsp;&nbsp;&nbsp;89704913 |
| TOTAL INVESTMENTS IN SECURITIES-118.26%<br>(Cost $572,685,787) | TOTAL INVESTMENTS IN SECURITIES-118.26%<br>(Cost $572,685,787) | &nbsp;&nbsp;582561418 |
| OTHER ASSETS LESS LIABILITIES-(18.26)% | OTHER ASSETS LESS LIABILITIES-(18.26)% | &nbsp;&nbsp;&nbsp;(89956397) |
| NET ASSETS-100.00% | NET ASSETS-100.00% | $492605021 |

---

---

| | |
|:---|:---|
| 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 the exclusive property and a service mark of MSCI Inc. and Standard & Poor's. |
| <sup>(b)</sup> | Non-income producing security. |
| <sup>(c)</sup> | All or a portion of this security was out on loan at January 31, 2023. |
| <sup>(d)</sup> | Affiliated issuer. The issuer and/or the Fund is a wholly-owned subsidiary of Invesco Ltd., or is affiliated by having an investment adviser that is under common control of Invesco Ltd. The table below shows the Fund's transactions in, and earnings from, its investments in affiliates for the nine months ended January 31, 2023. |

---

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;**Value<br> April 30, 2022** | &nbsp;&nbsp;&nbsp;**Purchases<br> at Cost** | &nbsp;&nbsp;&nbsp;**Proceeds<br> from Sales** | &nbsp;&nbsp;&nbsp;**Change in<br> Unrealized<br> Appreciation** | &nbsp;&nbsp;&nbsp;**Realized<br> Gain<br> (Loss)** | &nbsp;&nbsp;&nbsp;**Value<br> January 31, 2023** | &nbsp;&nbsp;&nbsp;**Dividend<br> Income** |
| &nbsp;&nbsp;**Investments in Affiliated Money Market Funds:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Invesco Government & Agency Portfolio, Institutional Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;$98141030 | &nbsp;&nbsp;&nbsp;&nbsp;$(98051118) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$89912 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$9208 |

---

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

------

### Invesco Dynamic Leisure and Entertainment ETF (PEJ)—(continued)<br>
January 31, 2023

(Unaudited)

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;**Value<br> April 30, 2022** | &nbsp;&nbsp;&nbsp;**Purchases<br> at Cost** | &nbsp;&nbsp;&nbsp;**Proceeds<br> from Sales** | &nbsp;&nbsp;&nbsp;**Change in<br> Unrealized<br> Appreciation** | &nbsp;&nbsp;&nbsp;**Realized<br> Gain<br> (Loss)** | &nbsp;&nbsp;&nbsp;**Value<br> January 31, 2023** | &nbsp;&nbsp;&nbsp;**Dividend<br> Income** |
| &nbsp;&nbsp;**Investments Purchased with Cash Collateral from Securities on Loan:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Invesco Private Government Fund | &nbsp;&nbsp;&nbsp;$33799807 | &nbsp;&nbsp;&nbsp;$279923480 | &nbsp;&nbsp;&nbsp;$(288609742) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;$25113545 | &nbsp;&nbsp;&nbsp;$579,043\* |
| &nbsp;&nbsp;Invesco Private Prime Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78835195 | &nbsp;&nbsp;&nbsp;&nbsp;602561905 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(616837601) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31863 | &nbsp;&nbsp;&nbsp;&nbsp;64591368 | &nbsp;&nbsp;&nbsp;&nbsp;1,573,686\* |
| &nbsp;&nbsp;**Investments in Other Affiliates:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Manchester United PLC, Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41148669 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2411581 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(40351378) | &nbsp;&nbsp;&nbsp;&nbsp;3718614 | &nbsp;&nbsp;&nbsp;&nbsp;(6927486) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- |
| &nbsp;&nbsp;Total | &nbsp;&nbsp;&nbsp;$153783671 | &nbsp;&nbsp;&nbsp;$983037996 | &nbsp;&nbsp;&nbsp;$(1043849839) | &nbsp;&nbsp;&nbsp;$3718620 | &nbsp;&nbsp;&nbsp;$(6895623) | &nbsp;&nbsp;&nbsp;$89794825 | &nbsp;&nbsp;&nbsp;$2161937 |

---

\* 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.

<sup>(e)</sup> The rate shown is the 7-day SEC standardized yield as of January 31, 2023. <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><br>

### Invesco Dynamic Media ETF (PBS)
January 31, 2023

(Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Shares** | &nbsp;&nbsp;**Value** |
| **Common Stocks & Other Equity Interests-99.90%** | **Common Stocks & Other Equity Interests-99.90%** | **Common Stocks & Other Equity Interests-99.90%** |
| **Advertising-14.92%** | **Advertising-14.92%** | **Advertising-14.92%** |
| Advantage Solutions, Inc.<sup>(b)(c)</sup><br>| 341242 | &nbsp;&nbsp;&nbsp;&nbsp;$883817 |
| Interpublic Group of Cos., Inc. (The)<sup>(c)</sup><br>| &nbsp;&nbsp;27218 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;992368 |
| Omnicom Group, Inc.<br>| &nbsp;&nbsp;21394 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1839670 |
| Stagwell, Inc.<sup>(b)(c)</sup><br>| 113176 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;794495 |
| TechTarget, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;19662 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;973859 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5484209 |
| **Broadcasting-21.58%** | **Broadcasting-21.58%** | **Broadcasting-21.58%** |
| E.W. Scripps Co. (The), Class A<sup>(b)(c)</sup><br>| &nbsp;&nbsp;64533 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;964768 |
| Fox Corp., Class A<br>| &nbsp;&nbsp;53398 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1812328 |
| Gray Television, Inc.<br>| &nbsp;&nbsp;81824 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1060439 |
| iHeartMedia, Inc., Class A<sup>(b)(c)</sup><br>| 116996 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;906719 |
| Nexstar Media Group, Inc., Class A<br>| &nbsp;&nbsp;&nbsp;&nbsp;5270 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1079138 |
| Paramount Global, Class B<sup>(c)</sup><br>| &nbsp;&nbsp;48278 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1118119 |
| Sinclair Broadcast Group, Inc., Class A<sup>(c)</sup><br>| &nbsp;&nbsp;48046 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;991189 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7932700 |
| **Cable & Satellite-4.07%** | **Cable & Satellite-4.07%** | **Cable & Satellite-4.07%** |
| Sirius XM Holdings, Inc.<sup>(c)</sup><br>| 258468 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1496530 |
| **Interactive Media & Services-27.34%** | **Interactive Media & Services-27.34%** | **Interactive Media & Services-27.34%** |
| Cargurus, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;67736 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1195540 |
| Getty Images Holdings, Inc.<sup>(b)(c)</sup><br>| 161739 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1028660 |
| Meta Platforms, Inc., Class A<sup>(b)</sup><br>| &nbsp;&nbsp;14740 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2195818 |
| Pinterest, Inc., Class A<sup>(b)</sup><br>| &nbsp;&nbsp;67744 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1780990 |
| Rumble Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;90359 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;908108 |
| Yelp, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;30456 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;959669 |
| Ziff Davis, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;10167 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;909743 |
| ZipRecruiter, Inc., Class A<sup>(b)(c)</sup><br>| &nbsp;&nbsp;54566 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1071676 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;10050204 |
| **IT Consulting & Other Services-4.50%** | **IT Consulting & Other Services-4.50%** | **IT Consulting & Other Services-4.50%** |
| Gartner, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;4891 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1653843 |
| **Movies & Entertainment-19.60%** | **Movies & Entertainment-19.60%** | **Movies & Entertainment-19.60%** |
| Lions Gate Entertainment Corp., Class A<sup>(b)(c)</sup><br>| 131901 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1051251 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | &nbsp;&nbsp;**Value** |
| **Movies & Entertainment-(continued)** | **Movies & Entertainment-(continued)** | **Movies & Entertainment-(continued)** |
| Netflix, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5736 | &nbsp;&nbsp;&nbsp;$2029741 |
| Walt Disney Co. (The)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;17992 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1951952 |
| Warner Music Group Corp., Class A<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;32904 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1199351 |
| World Wrestling Entertainment, Inc., Class A<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;11494 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;972622 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7204917 |
| **Publishing-7.89%** | **Publishing-7.89%** | **Publishing-7.89%** |
| John Wiley & Sons, Inc., Class A<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;19267 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;882428 |
| News Corp., Class A<br>| &nbsp;&nbsp;&nbsp;&nbsp;50526 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1023657 |
| Scholastic Corp.<br>| &nbsp;&nbsp;&nbsp;&nbsp;22522 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;996373 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2902458 |
| TOTAL INVESTMENTS IN SECURITIES<br>(excluding investments purchased with cash collateral from securities on loan)-99.90%<br>(Cost $41,602,800) | TOTAL INVESTMENTS IN SECURITIES<br>(excluding investments purchased with cash collateral from securities on loan)-99.90%<br>(Cost $41,602,800) | &nbsp;&nbsp;&nbsp;36724861 |
| **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-30.66%** | **Money Market Funds-30.66%** | **Money Market Funds-30.66%** |
| Invesco Private Government Fund, 4.36%<sup>(d)(e)(f)</sup><br>| 3156109 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3156109 |
| Invesco Private Prime Fund, 4.59%<sup>(d)(e)(f)</sup><br>| 8114820 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8117254 |
| &nbsp;&nbsp;&nbsp;Total Investments Purchased with Cash Collateral from Securities on Loan<br>(Cost $11,273,014) | &nbsp;&nbsp;&nbsp;Total Investments Purchased with Cash Collateral from Securities on Loan<br>(Cost $11,273,014) | &nbsp;&nbsp;&nbsp;11273363 |
| TOTAL INVESTMENTS IN SECURITIES-130.56%<br>(Cost $52,875,814) | TOTAL INVESTMENTS IN SECURITIES-130.56%<br>(Cost $52,875,814) | &nbsp;&nbsp;&nbsp;47998224 |
| OTHER ASSETS LESS LIABILITIES-(30.56)% | OTHER ASSETS LESS LIABILITIES-(30.56)% | &nbsp;&nbsp;(11235876) |
| NET ASSETS-100.00% | NET ASSETS-100.00% | $36762348 |

---

---

| | |
|:---|:---|
| 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 the exclusive property and a service mark of MSCI Inc. and Standard & Poor's. |
| <sup>(b)</sup> | Non-income producing security. |
| <sup>(c)</sup> | All or a portion of this security was out on loan at January 31, 2023. |
| <sup>(d)</sup> | Affiliated issuer. The issuer and/or the Fund is a wholly-owned subsidiary of Invesco Ltd., or is affiliated by having an investment adviser that is under common control of Invesco Ltd. The table below shows the Fund's transactions in, and earnings from, its investments in affiliates for the nine months ended January 31, 2023. |

---

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;**Value<br> April 30, 2022** | &nbsp;&nbsp;&nbsp;**Purchases<br> at Cost** | &nbsp;&nbsp;&nbsp;**Proceeds<br> from Sales** | &nbsp;&nbsp;&nbsp;**Change in<br> Unrealized<br> Appreciation** | &nbsp;&nbsp;&nbsp;**Realized<br> Gain** | &nbsp;&nbsp;&nbsp;**Value<br> January 31, 2023** | &nbsp;&nbsp;&nbsp;**Dividend<br> Income** |
| &nbsp;&nbsp;**Investments in Affiliated Money Market Funds:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Invesco Government & Agency Portfolio, Institutional Class | &nbsp;&nbsp;&nbsp;&nbsp;$85837 | &nbsp;&nbsp;&nbsp;&nbsp;$563654 | &nbsp;&nbsp;&nbsp;&nbsp;$(649491) | &nbsp;&nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;&nbsp;$1202 |
| &nbsp;&nbsp;**Investments Purchased with Cash Collateral from Securities on Loan:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Invesco Private Government Fund | &nbsp;&nbsp;&nbsp;&nbsp;1846466 | &nbsp;&nbsp;&nbsp;&nbsp;18841046 | &nbsp;&nbsp;&nbsp;&nbsp;(17531403) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3156109 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49,250\* |
| &nbsp;&nbsp;Invesco Private Prime Fund | &nbsp;&nbsp;&nbsp;&nbsp;4304883 | &nbsp;&nbsp;&nbsp;&nbsp;36911622 | &nbsp;&nbsp;&nbsp;&nbsp;(33101854) | &nbsp;&nbsp;&nbsp;&nbsp;317 | &nbsp;&nbsp;&nbsp;&nbsp;2286 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8117254 | &nbsp;&nbsp;&nbsp;&nbsp;132,749\* |
| &nbsp;&nbsp;Total | &nbsp;&nbsp;&nbsp;$6237186 | &nbsp;&nbsp;&nbsp;$56316322 | &nbsp;&nbsp;&nbsp;$(51282748) | &nbsp;&nbsp;&nbsp;$317 | &nbsp;&nbsp;&nbsp;$2286 | &nbsp;&nbsp;&nbsp;$11273363 | &nbsp;&nbsp;&nbsp;$183201 |

---

\* 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.

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

------

### Invesco Dynamic Media ETF (PBS)—(continued)<br>
January 31, 2023

(Unaudited)

<sup>(e)</sup> The rate shown is the 7-day SEC standardized yield as of January 31, 2023. <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><br>

### Invesco Dynamic Networking ETF (PXQ)
January 31, 2023

(Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Shares** | &nbsp;&nbsp;**Value** |
| **Common Stocks & Other Equity Interests-100.02%** | **Common Stocks & Other Equity Interests-100.02%** | **Common Stocks & Other Equity Interests-100.02%** |
| **Application Software-9.22%** | **Application Software-9.22%** | **Application Software-9.22%** |
| Dynatrace, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;23097 | &nbsp;&nbsp;&nbsp;&nbsp;$887618 |
| ForgeRock, Inc., Class A<sup>(b)</sup><br>| &nbsp;&nbsp;38484 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;764292 |
| New Relic, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;16471 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1005555 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2657465 |
| **Communications Equipment-39.66%** | **Communications Equipment-39.66%** | **Communications Equipment-39.66%** |
| Arista Networks, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;6238 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;786113 |
| Calix, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;12104 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;637155 |
| Cisco Systems, Inc.<br>| &nbsp;&nbsp;32420 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1577881 |
| Clearfield, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;7166 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;512082 |
| CommScope Holding Co., Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;92665 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;778386 |
| Digi International, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;20349 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;691663 |
| Extreme Networks, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;44339 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;799432 |
| Harmonic, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;57490 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;757143 |
| Infinera Corp.<sup>(b)(c)</sup><br>| 130619 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;956131 |
| Juniper Networks, Inc.<br>| &nbsp;&nbsp;26769 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;864639 |
| Motorola Solutions, Inc.<br>| &nbsp;&nbsp;&nbsp;&nbsp;5892 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1514303 |
| NetScout Systems, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;22615 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;725941 |
| Ubiquiti, Inc.<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;2839 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;829442 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;11430311 |
| **Electronic Components-8.30%** | **Electronic Components-8.30%** | **Electronic Components-8.30%** |
| Amphenol Corp., Class A<br>| &nbsp;&nbsp;19438 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1550569 |
| Belden, Inc.<sup>(c)</sup><br>| &nbsp;&nbsp;10386 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;842201 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2392770 |
| **Systems Software-37.71%** | **Systems Software-37.71%** | **Systems Software-37.71%** |
| A10 Networks, Inc.<sup>(c)</sup><br>| &nbsp;&nbsp;47936 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;742049 |
| Check Point Software Technologies Ltd. (Israel)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;6537 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;831506 |
| Crowdstrike Holdings, Inc., Class A<sup>(b)</sup><br>| &nbsp;&nbsp;11147 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1180467 |
| CyberArk Software Ltd.<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;5676 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;799635 |
| Fortinet, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;29710 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1555022 |
| Palo Alto Networks, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;9251 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1467579 |
| Qualys, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;6817 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;786409 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | &nbsp;&nbsp;**Value** |
| **Systems Software-(continued)** | **Systems Software-(continued)** | **Systems Software-(continued)** |
| SolarWinds Corp.<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;98727 | &nbsp;&nbsp;$1003066 |
| Tenable Holdings, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;21725 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;873997 |
| VMware, Inc., Class A<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;13292 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1627871 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;10867601 |
| **Technology Hardware, Storage & Peripherals-5.13%** | **Technology Hardware, Storage & Peripherals-5.13%** | **Technology Hardware, Storage & Peripherals-5.13%** |
| Apple, Inc.<br>| &nbsp;&nbsp;&nbsp;&nbsp;10241 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1477674 |
| &nbsp;&nbsp;&nbsp;Total Common Stocks & Other Equity Interests<br>(Cost $28,570,058) | &nbsp;&nbsp;&nbsp;Total Common Stocks & Other Equity Interests<br>(Cost $28,570,058) | &nbsp;&nbsp;28825821 |
| **Money Market Funds-0.26%** | **Money Market Funds-0.26%** | **Money Market Funds-0.26%** |
| Invesco Government & Agency Portfolio, Institutional Class, 4.30%<sup>(d)(e)</sup><br>(Cost $73,233)<br>| &nbsp;&nbsp;&nbsp;&nbsp;73233 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73233 |
| TOTAL INVESTMENTS IN SECURITIES<br>(excluding investments purchased with cash collateral from securities on loan)-100.28%<br>(Cost $28,643,291) | TOTAL INVESTMENTS IN SECURITIES<br>(excluding investments purchased with cash collateral from securities on loan)-100.28%<br>(Cost $28,643,291) | &nbsp;&nbsp;28899054 |
| **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-21.45%** | **Money Market Funds-21.45%** | **Money Market Funds-21.45%** |
| Invesco Private Government Fund, 4.36%<sup>(d)(e)(f)</sup><br>| 1730737 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1730737 |
| Invesco Private Prime Fund, 4.59%<sup>(d)(e)(f)</sup><br>| 4450171 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4451506 |
| &nbsp;&nbsp;&nbsp;Total Investments Purchased with Cash Collateral from Securities on Loan<br>(Cost $6,182,243) | &nbsp;&nbsp;&nbsp;Total Investments Purchased with Cash Collateral from Securities on Loan<br>(Cost $6,182,243) | &nbsp;&nbsp;&nbsp;&nbsp;6182243 |
| TOTAL INVESTMENTS IN SECURITIES-121.73%<br>(Cost $34,825,534) | TOTAL INVESTMENTS IN SECURITIES-121.73%<br>(Cost $34,825,534) | &nbsp;&nbsp;35081297 |
| OTHER ASSETS LESS LIABILITIES-(21.73)% | OTHER ASSETS LESS LIABILITIES-(21.73)% | &nbsp;&nbsp;&nbsp;(6261411) |
| NET ASSETS-100.00% | NET ASSETS-100.00% | $28819886 |

---

---

| | |
|:---|:---|
| 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 the exclusive property and a service mark of MSCI Inc. and Standard & Poor's. |
| <sup>(b)</sup> | Non-income producing security. |
| <sup>(c)</sup> | All or a portion of this security was out on loan at January 31, 2023. |
| <sup>(d)</sup> | Affiliated issuer. The issuer and/or the Fund is a wholly-owned subsidiary of Invesco Ltd., or is affiliated by having an investment adviser that is under common control of Invesco Ltd. The table below shows the Fund's transactions in, and earnings from, its investments in affiliates for the nine months ended January 31, 2023. |

---

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;**Value<br> April 30, 2022** | &nbsp;&nbsp;&nbsp;**Purchases<br> at Cost** | &nbsp;&nbsp;&nbsp;**Proceeds<br> from Sales** | &nbsp;&nbsp;&nbsp;**Change in<br> Unrealized<br> Appreciation** | &nbsp;&nbsp;&nbsp;**Realized<br> Gain** | &nbsp;&nbsp;&nbsp;**Value<br> January 31, 2023** | &nbsp;&nbsp;&nbsp;**Dividend<br> Income** |
| &nbsp;&nbsp;**Investments in Affiliated Money Market Funds:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Invesco Government & Agency Portfolio, Institutional Class | &nbsp;&nbsp;&nbsp;&nbsp;$41355 | &nbsp;&nbsp;&nbsp;$1126800 | &nbsp;&nbsp;&nbsp;$(1094922) | &nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;&nbsp;$73233 | &nbsp;&nbsp;&nbsp;&nbsp;$1496 |
| &nbsp;&nbsp;**Investments Purchased with Cash Collateral from Securities on Loan:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Invesco Private Government Fund | &nbsp;&nbsp;&nbsp;&nbsp;1436610 | &nbsp;&nbsp;&nbsp;&nbsp;25488369 | &nbsp;&nbsp;&nbsp;&nbsp;(25194242) | &nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;1730737 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37,851\* |
| &nbsp;&nbsp;Invesco Private Prime Fund | &nbsp;&nbsp;&nbsp;&nbsp;3350983 | &nbsp;&nbsp;&nbsp;&nbsp;52288822 | &nbsp;&nbsp;&nbsp;&nbsp;(51189983) | &nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;1684 | &nbsp;&nbsp;&nbsp;&nbsp;4451506 | &nbsp;&nbsp;&nbsp;&nbsp;102,401\* |
| &nbsp;&nbsp;Total | &nbsp;&nbsp;&nbsp;$4828948 | &nbsp;&nbsp;&nbsp;$78903991 | &nbsp;&nbsp;&nbsp;$(77479147) | &nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;$1684 | &nbsp;&nbsp;&nbsp;$6255476 | &nbsp;&nbsp;&nbsp;$141748 |

---

\* 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.

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

------

### Invesco Dynamic Networking ETF (PXQ)—(continued)<br>
January 31, 2023

(Unaudited)

<sup>(e)</sup> The rate shown is the 7-day SEC standardized yield as of January 31, 2023. <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><br>

### Invesco Dynamic Oil & Gas Services ETF (PXJ)
January 31, 2023

(Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Shares** | &nbsp;&nbsp;**Value** |
| **Common Stocks & Other Equity Interests-99.95%** | **Common Stocks & Other Equity Interests-99.95%** | **Common Stocks & Other Equity Interests-99.95%** |
| **Oil & Gas Drilling-21.82%** | **Oil & Gas Drilling-21.82%** | **Oil & Gas Drilling-21.82%** |
| Diamond Offshore Drilling, Inc.<sup>(b)(c)</sup><br>| 238895 | &nbsp;&nbsp;$2737737 |
| Helmerich & Payne, Inc.<br>| &nbsp;&nbsp;78241 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3789994 |
| Nabors Industries Ltd.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;13402 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2379391 |
| Patterson-UTI Energy, Inc.<br>| 123505 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2074884 |
| Transocean Ltd.<sup>(b)(c)</sup><br>| 554019 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3734088 |
| Valaris Ltd.<sup>(b)</sup><br>| &nbsp;&nbsp;62741 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4557506 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;19273600 |
| **Oil & Gas Equipment & Services-66.30%** | **Oil & Gas Equipment & Services-66.30%** | **Oil & Gas Equipment & Services-66.30%** |
| Archrock, Inc.<br>| 272114 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2696650 |
| Baker Hughes Co., Class A<br>| 144395 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4583097 |
| Cactus, Inc., Class A<br>| &nbsp;&nbsp;41535 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2247459 |
| ChampionX Corp.<br>| 133843 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4419496 |
| Expro Group Holdings N.V.<sup>(b)</sup><br>| 128877 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2434487 |
| Halliburton Co.<br>| 114542 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4721421 |
| Helix Energy Solutions Group, Inc.<sup>(b)</sup><br>| 344278 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2730125 |
| Liberty Energy, Inc., Class A<sup>(c)</sup><br>| 136350 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2158420 |
| NexTier Oilfield Solutions, Inc.<sup>(b)</sup><br>| 223066 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2101282 |
| NOV, Inc.<br>| 185696 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4538410 |
| Oceaneering International, Inc.<sup>(b)</sup><br>| 152320 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3252032 |
| ProPetro Holding Corp.<sup>(b)</sup><br>| 207953 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2069132 |
| RPC, Inc.<br>| 237580 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2356794 |
| Schlumberger Ltd.<br>| &nbsp;&nbsp;78597 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4478457 |
| TechnipFMC PLC (United Kingdom)<sup>(b)(c)</sup><br>| 351642 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4884307 |
| Tidewater, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;75728 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3286595 |
| USA Compression Partners L.P.<br>| 124764 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2582615 |
| Weatherford International PLC<sup>(b)</sup><br>| &nbsp;&nbsp;53423 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3038700 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;58579479 |
| **Oil & Gas Storage & Transportation-11.83%** | **Oil & Gas Storage & Transportation-11.83%** | **Oil & Gas Storage & Transportation-11.83%** |
| DHT Holdings, Inc.<br>| 219368 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1879984 |
| Frontline PLC (Norway)<sup>(c)</sup><br>| &nbsp;&nbsp;15901 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;219911 |
| Golar LNG Ltd. (Cameroon)<sup>(b)</sup><br>| &nbsp;&nbsp;95127 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2229777 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | &nbsp;&nbsp;**Value** |
| **Oil & Gas Storage & Transportation-(continued)** | **Oil & Gas Storage & Transportation-(continued)** | **Oil & Gas Storage & Transportation-(continued)** |
| International Seaways, Inc.<br>| &nbsp;&nbsp;&nbsp;&nbsp;51115 | &nbsp;&nbsp;$1985307 |
| Scorpio Tankers, Inc. (Monaco)<br>| &nbsp;&nbsp;&nbsp;&nbsp;44392 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2125045 |
| Teekay Tankers Ltd., Class A (Canada)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;65682 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2015780 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;10455804 |
| &nbsp;&nbsp;&nbsp;Total Common Stocks & Other Equity Interests<br>(Cost $77,439,514) | &nbsp;&nbsp;&nbsp;Total Common Stocks & Other Equity Interests<br>(Cost $77,439,514) | &nbsp;&nbsp;88308883 |
| **Money Market Funds-0.11%** | **Money Market Funds-0.11%** | **Money Market Funds-0.11%** |
| Invesco Government & Agency Portfolio, Institutional Class, 4.30%<sup>(d)(e)</sup><br>(Cost $99,682)<br>| &nbsp;&nbsp;&nbsp;&nbsp;99682 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99682 |
| TOTAL INVESTMENTS IN SECURITIES<br>(excluding investments purchased with cash collateral from securities on loan)-100.06%<br>(Cost $77,539,196) | TOTAL INVESTMENTS IN SECURITIES<br>(excluding investments purchased with cash collateral from securities on loan)-100.06%<br>(Cost $77,539,196) | &nbsp;&nbsp;88408565 |
| **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-6.74%** | **Money Market Funds-6.74%** | **Money Market Funds-6.74%** |
| Invesco Private Government Fund, 4.36%<sup>(d)(e)(f)</sup><br>| 1666110 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1666110 |
| Invesco Private Prime Fund, 4.59%<sup>(d)(e)(f)</sup><br>| 4283885 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4285171 |
| &nbsp;&nbsp;&nbsp;Total Investments Purchased with Cash Collateral from Securities on Loan<br>(Cost $5,951,393) | &nbsp;&nbsp;&nbsp;Total Investments Purchased with Cash Collateral from Securities on Loan<br>(Cost $5,951,393) | &nbsp;&nbsp;&nbsp;&nbsp;5951281 |
| TOTAL INVESTMENTS IN SECURITIES-106.80%<br>(Cost $83,490,589) | TOTAL INVESTMENTS IN SECURITIES-106.80%<br>(Cost $83,490,589) | &nbsp;&nbsp;94359846 |
| OTHER ASSETS LESS LIABILITIES-(6.80)% | OTHER ASSETS LESS LIABILITIES-(6.80)% | &nbsp;&nbsp;&nbsp;(6007023) |
| NET ASSETS-100.00% | NET ASSETS-100.00% | $88352823 |

---

---

| | |
|:---|:---|
| 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 the exclusive property and a service mark of MSCI Inc. and Standard & Poor's. |
| <sup>(b)</sup> | Non-income producing security. |
| <sup>(c)</sup> | All or a portion of this security was out on loan at January 31, 2023. |
| <sup>(d)</sup> | Affiliated issuer. The issuer and/or the Fund is a wholly-owned subsidiary of Invesco Ltd., or is affiliated by having an investment adviser that is under common control of Invesco Ltd. The table below shows the Fund's transactions in, and earnings from, its investments in affiliates for the nine months ended January 31, 2023. |

---

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;**Value<br> April 30, 2022** | &nbsp;&nbsp;&nbsp;**Purchases<br> at Cost** | &nbsp;&nbsp;&nbsp;**Proceeds<br> from Sales** | &nbsp;&nbsp;&nbsp;**Change in<br> Unrealized<br> Appreciation<br> (Depreciation)** | &nbsp;&nbsp;&nbsp;**Realized<br> Gain** | &nbsp;&nbsp;&nbsp;**Value<br> January 31, 2023** | &nbsp;&nbsp;&nbsp;**Dividend<br> Income** |
| &nbsp;&nbsp;**Investments in Affiliated Money Market Funds:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Invesco Government & Agency Portfolio, Institutional Class | &nbsp;&nbsp;&nbsp;&nbsp;$126244 | &nbsp;&nbsp;&nbsp;$1231483 | &nbsp;&nbsp;&nbsp;$(1258045) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;&nbsp;$99682 | &nbsp;&nbsp;&nbsp;&nbsp;$1711 |
| &nbsp;&nbsp;**Investments Purchased with Cash Collateral from Securities on Loan:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Invesco Private Government Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5339810 | &nbsp;&nbsp;&nbsp;&nbsp;27172202 | &nbsp;&nbsp;&nbsp;&nbsp;(30845902) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;1666110 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38,070\* |
| &nbsp;&nbsp;Invesco Private Prime Fund | &nbsp;&nbsp;&nbsp;&nbsp;12457065 | &nbsp;&nbsp;&nbsp;&nbsp;56081917 | &nbsp;&nbsp;&nbsp;&nbsp;(64253529) | &nbsp;&nbsp;&nbsp;&nbsp;(313) | &nbsp;&nbsp;&nbsp;&nbsp;31 | &nbsp;&nbsp;&nbsp;&nbsp;4285171 | &nbsp;&nbsp;&nbsp;&nbsp;102,290\* |
| &nbsp;&nbsp;Total | &nbsp;&nbsp;&nbsp;$17923119 | &nbsp;&nbsp;&nbsp;$84485602 | &nbsp;&nbsp;&nbsp;$(96357476) | &nbsp;&nbsp;&nbsp;$(313) | &nbsp;&nbsp;&nbsp;$31 | &nbsp;&nbsp;&nbsp;$6050963 | &nbsp;&nbsp;&nbsp;$142071 |

---

\* 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.

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

------

### Invesco Dynamic Oil & Gas Services ETF (PXJ)—(continued)<br>
January 31, 2023

(Unaudited)

<sup>(e)</sup> The rate shown is the 7-day SEC standardized yield as of January 31, 2023. <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><br>

### Invesco Dynamic Pharmaceuticals ETF (PJP)
January 31, 2023

(Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Shares** | &nbsp;&nbsp;**Value** |
| **Common Stocks & Other Equity Interests-99.93%** | **Common Stocks & Other Equity Interests-99.93%** | **Common Stocks & Other Equity Interests-99.93%** |
| **Biotechnology-39.59%** | **Biotechnology-39.59%** | **Biotechnology-39.59%** |
| AbbVie, Inc.<br>| &nbsp;&nbsp;&nbsp;134533 | &nbsp;&nbsp;$19877251 |
| Amgen, Inc.<br>| &nbsp;&nbsp;&nbsp;&nbsp;72575 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18317930 |
| Biogen, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;35402 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10298442 |
| Emergent BioSolutions, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp;870359 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11480035 |
| Gilead Sciences, Inc.<br>| &nbsp;&nbsp;&nbsp;249341 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20929684 |
| Horizon Therapeutics PLC<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;140609 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15427619 |
| OmniAb, Inc.<sup>(b)(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;39023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| OmniAb, Inc., Class A<sup>(b)(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;39023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| Regeneron Pharmaceuticals, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;14554 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11038772 |
| Travere Therapeutics, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp;517761 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11597846 |
| United Therapeutics Corp.<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;40522 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10664175 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;129631754 |
| **Health Care Equipment-6.78%** | **Health Care Equipment-6.78%** | **Health Care Equipment-6.78%** |
| Abbott Laboratories<br>| &nbsp;&nbsp;&nbsp;200732 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22190923 |
| **Pharmaceuticals-53.56%** | **Pharmaceuticals-53.56%** | **Pharmaceuticals-53.56%** |
| Amphastar Pharmaceuticals, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp;377565 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11425117 |
| Bausch Health Cos., Inc.<sup>(b)(c)</sup><br>| 1057478 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8142581 |
| Corcept Therapeutics, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;404483 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9246482 |
| Eli Lilly and Co.<br>| &nbsp;&nbsp;&nbsp;&nbsp;57649 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19839903 |
| Jazz Pharmaceuticals PLC<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;72855 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11413464 |
| Johnson & Johnson<br>| &nbsp;&nbsp;&nbsp;118331 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19337652 |
| Ligand Pharmaceuticals, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp;138628 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9662372 |
| Merck & Co., Inc.<br>| &nbsp;&nbsp;&nbsp;200037 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21485974 |
| Pacira BioSciences, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp;218655 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8586582 |
| Perrigo Co. PLC<br>| &nbsp;&nbsp;&nbsp;336561 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12594113 |
| Pfizer, Inc.<br>| &nbsp;&nbsp;&nbsp;432302 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19090456 |
| Prestige Consumer Healthcare, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp;179462 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11801421 |
| Supernus Pharmaceuticals, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp;310537 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12735122 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;175361239 |
| &nbsp;&nbsp;&nbsp;Total Common Stocks & Other Equity Interests<br>(Cost $283,939,324) | &nbsp;&nbsp;&nbsp;Total Common Stocks & Other Equity Interests<br>(Cost $283,939,324) | &nbsp;&nbsp;327183916 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | &nbsp;&nbsp;**Value** |
| **Money Market Funds-0.03%** | **Money Market Funds-0.03%** | **Money Market Funds-0.03%** |
| Invesco Government & Agency Portfolio, Institutional Class, 4.30%<sup>(e)(f)</sup><br>(Cost $99,298)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99298 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$99298 |
| TOTAL INVESTMENTS IN SECURITIES<br>(excluding investments purchased with cash collateral from securities on loan)-99.96%<br>(Cost $284,038,622) | TOTAL INVESTMENTS IN SECURITIES<br>(excluding investments purchased with cash collateral from securities on loan)-99.96%<br>(Cost $284,038,622) | &nbsp;&nbsp;327283214 |
| **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-7.51%** | **Money Market Funds-7.51%** | **Money Market Funds-7.51%** |
| Invesco Private Government Fund, 4.36%<sup>(e)(f)(g)</sup><br>| &nbsp;&nbsp;6887503 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6887503 |
| Invesco Private Prime Fund, 4.59%<sup>(e)(f)(g)</sup><br>| 17708763 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17714075 |
| &nbsp;&nbsp;&nbsp;Total Investments Purchased with Cash Collateral from Securities on Loan<br>(Cost $24,602,182) | &nbsp;&nbsp;&nbsp;Total Investments Purchased with Cash Collateral from Securities on Loan<br>(Cost $24,602,182) | &nbsp;&nbsp;&nbsp;&nbsp;24601578 |
| TOTAL INVESTMENTS IN SECURITIES-107.47%<br>(Cost $308,640,804) | TOTAL INVESTMENTS IN SECURITIES-107.47%<br>(Cost $308,640,804) | &nbsp;&nbsp;351884792 |
| OTHER ASSETS LESS LIABILITIES-(7.47)% | OTHER ASSETS LESS LIABILITIES-(7.47)% | &nbsp;&nbsp;&nbsp;(24462435) |
| NET ASSETS-100.00% | NET ASSETS-100.00% | $327422357 |

---

---

| | |
|:---|:---|
| 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 the exclusive property and a service mark of MSCI Inc. and Standard & Poor's. |
| <sup>(b)</sup> | Non-income producing security. |
| <sup>(c)</sup> | All or a portion of this security was out on loan at January 31, 2023. |
| <sup>(d)</sup> | Security valued using significant unobservable inputs (Level 3). See Note 1. |
| <sup>(e)</sup> | Affiliated issuer. The issuer and/or the Fund is a wholly-owned subsidiary of Invesco Ltd., or is affiliated by having an investment adviser that is under common control of Invesco Ltd. The table below shows the Fund's transactions in, and earnings from, its investments in affiliates for the nine months ended January 31, 2023. |

---

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;**Value<br> April 30, 2022** | &nbsp;&nbsp;&nbsp;**Purchases<br> at Cost** | &nbsp;&nbsp;&nbsp;**Proceeds<br> from Sales** | &nbsp;&nbsp;&nbsp;**Change in<br> Unrealized<br> Appreciation<br> (Depreciation)** | &nbsp;&nbsp;&nbsp;**Realized<br> Gain** | &nbsp;&nbsp;&nbsp;**Value<br> January 31, 2023** | &nbsp;&nbsp;&nbsp;**Dividend<br> Income** |
| &nbsp;&nbsp;**Investments in Affiliated Money Market Funds:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Invesco Government & Agency Portfolio, Institutional Class | &nbsp;&nbsp;&nbsp;&nbsp;$137871 | &nbsp;&nbsp;&nbsp;&nbsp;$3765334 | &nbsp;&nbsp;&nbsp;&nbsp;$(3803907) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$99298 | &nbsp;&nbsp;&nbsp;&nbsp;$2695 |

---

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

------

### Invesco Dynamic Pharmaceuticals ETF (PJP)—(continued)<br>
January 31, 2023

(Unaudited)

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;**Value<br> April 30, 2022** | &nbsp;&nbsp;&nbsp;**Purchases<br> at Cost** | &nbsp;&nbsp;&nbsp;**Proceeds<br> from Sales** | &nbsp;&nbsp;&nbsp;**Change in<br> Unrealized<br> Appreciation<br> (Depreciation)** | &nbsp;&nbsp;&nbsp;**Realized<br> Gain** | &nbsp;&nbsp;&nbsp;**Value<br> January 31, 2023** | &nbsp;&nbsp;&nbsp;**Dividend<br> Income** |
| &nbsp;&nbsp;**Investments Purchased with Cash Collateral from Securities on Loan:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Invesco Private Government Fund | &nbsp;&nbsp;&nbsp;$18280630 | &nbsp;&nbsp;&nbsp;$89524698 | &nbsp;&nbsp;&nbsp;$(100917825) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;$6887503 | &nbsp;&nbsp;&nbsp;$171,014\* |
| &nbsp;&nbsp;Invesco Private Prime Fund | &nbsp;&nbsp;&nbsp;&nbsp;42636270 | &nbsp;&nbsp;&nbsp;&nbsp;193060389 | &nbsp;&nbsp;&nbsp;&nbsp;(217988122) | &nbsp;&nbsp;&nbsp;&nbsp;(877) | &nbsp;&nbsp;&nbsp;&nbsp;6415 | &nbsp;&nbsp;&nbsp;&nbsp;17714075 | &nbsp;&nbsp;&nbsp;&nbsp;466,499\* |
| &nbsp;&nbsp;Total | &nbsp;&nbsp;&nbsp;$61054771 | &nbsp;&nbsp;&nbsp;$286350421 | &nbsp;&nbsp;&nbsp;$(322709854) | &nbsp;&nbsp;&nbsp;$(877) | &nbsp;&nbsp;&nbsp;$6415 | &nbsp;&nbsp;&nbsp;$24700876 | &nbsp;&nbsp;&nbsp;$640208 |

---

\* 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.

<sup>(f)</sup> The rate shown is the 7-day SEC standardized yield as of January 31, 2023. <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><br>

### Invesco Dynamic Semiconductors ETF (PSI)
January 31, 2023

(Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Shares** | &nbsp;&nbsp;**Value** |
| **Common Stocks & Other Equity Interests-100.00%** | **Common Stocks & Other Equity Interests-100.00%** | **Common Stocks & Other Equity Interests-100.00%** |
| **Electronic Components-2.55%** | **Electronic Components-2.55%** | **Electronic Components-2.55%** |
| Vishay Intertechnology, Inc.<br>| 580660 | &nbsp;&nbsp;$13291307 |
| **Semiconductor Equipment-29.66%** | **Semiconductor Equipment-29.66%** | **Semiconductor Equipment-29.66%** |
| Amkor Technology, Inc.<br>| 467435 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13677148 |
| Applied Materials, Inc.<br>| 232131 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25880285 |
| Axcelis Technologies, Inc.<sup>(b)</sup><br>| 173085 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19030696 |
| Cohu, Inc.<sup>(b)(c)</sup><br>| 371957 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13420209 |
| KLA Corp.<br>| &nbsp;&nbsp;35222 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13823930 |
| Kulicke & Soffa Industries, Inc. (Singapore)<sup>(c)</sup><br>| 274123 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14007685 |
| Lam Research Corp.<br>| &nbsp;&nbsp;29028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14516903 |
| Onto Innovation, Inc.<sup>(b)(c)</sup><br>| 166269 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13077057 |
| Photronics, Inc.<sup>(b)</sup><br>| 696972 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12629133 |
| Teradyne, Inc.<sup>(c)</sup><br>| 142697 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14512285 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;154575331 |
| **Semiconductors-67.79%** | **Semiconductors-67.79%** | **Semiconductors-67.79%** |
| Allegro MicroSystems, Inc. (Japan)<sup>(b)(c)</sup><br>| 449217 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17146613 |
| Analog Devices, Inc.<br>| 150167 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25749135 |
| Broadcom, Inc.<br>| &nbsp;&nbsp;47179 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27600187 |
| Cirrus Logic, Inc.<sup>(b)(c)</sup><br>| 172830 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15622104 |
| Diodes, Inc.<sup>(b)</sup><br>| 151024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13469831 |
| GLOBALFOUNDRIES, Inc.<sup>(b)(c)</sup><br>| 196537 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11650713 |
| Impinj, Inc.<sup>(b)(c)</sup><br>| 115319 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14966100 |
| Intel Corp.<br>| 813647 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22993664 |
| Lattice Semiconductor Corp.<sup>(b)</sup><br>| 197414 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14962007 |
| MACOM Technology Solutions Holdings, Inc.<sup>(b)(c)</sup><br>| 191954 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12864757 |
| MaxLinear, Inc.<sup>(b)(c)</sup><br>| 372374 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15341809 |
| Microchip Technology, Inc.<br>| 178726 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13872712 |
| Micron Technology, Inc.<br>| 414877 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25017083 |
| NVIDIA Corp.<br>| 157725 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30814733 |
| NXP Semiconductors N.V. (China)<br>| &nbsp;&nbsp;77102 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14210670 |
| ON Semiconductor Corp.<sup>(b)</sup><br>| 182948 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13437531 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | &nbsp;&nbsp;**Value** |
| **Semiconductors-(continued)** | **Semiconductors-(continued)** | **Semiconductors-(continued)** |
| QUALCOMM, Inc.<br>| &nbsp;&nbsp;&nbsp;&nbsp;196236 | &nbsp;&nbsp;$26140597 |
| Texas Instruments, Inc.<br>| &nbsp;&nbsp;&nbsp;&nbsp;138738 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24585761 |
| Tower Semiconductor Ltd. (Israel)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;306795 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12820963 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;353266970 |
| &nbsp;&nbsp;&nbsp;Total Common Stocks & Other Equity Interests<br>(Cost $492,769,433) | &nbsp;&nbsp;&nbsp;Total Common Stocks & Other Equity Interests<br>(Cost $492,769,433) | &nbsp;&nbsp;521133608 |
| **Money Market Funds-0.04%** | **Money Market Funds-0.04%** | **Money Market Funds-0.04%** |
| Invesco Government & Agency Portfolio, Institutional Class, 4.30%<sup>(d)(e)</sup><br>(Cost $190,746)<br>| &nbsp;&nbsp;&nbsp;&nbsp;190746 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;190746 |
| TOTAL INVESTMENTS IN SECURITIES<br>(excluding investments purchased with cash collateral from securities on loan)-100.04%<br>(Cost $492,960,179) | TOTAL INVESTMENTS IN SECURITIES<br>(excluding investments purchased with cash collateral from securities on loan)-100.04%<br>(Cost $492,960,179) | &nbsp;&nbsp;521324354 |
| **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-15.08%** | **Money Market Funds-15.08%** | **Money Market Funds-15.08%** |
| Invesco Private Government Fund, 4.36%<sup>(d)(e)(f)</sup><br>| 22007019 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22007019 |
| Invesco Private Prime Fund, 4.59%<sup>(d)(e)(f)</sup><br>| 56583505 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56600480 |
| &nbsp;&nbsp;&nbsp;Total Investments Purchased with Cash Collateral from Securities on Loan<br>(Cost $78,603,728) | &nbsp;&nbsp;&nbsp;Total Investments Purchased with Cash Collateral from Securities on Loan<br>(Cost $78,603,728) | &nbsp;&nbsp;&nbsp;&nbsp;78607499 |
| TOTAL INVESTMENTS IN SECURITIES-115.12%<br>(Cost $571,563,907) | TOTAL INVESTMENTS IN SECURITIES-115.12%<br>(Cost $571,563,907) | &nbsp;&nbsp;599931853 |
| OTHER ASSETS LESS LIABILITIES-(15.12)% | OTHER ASSETS LESS LIABILITIES-(15.12)% | &nbsp;&nbsp;&nbsp;(78805725) |
| NET ASSETS-100.00% | NET ASSETS-100.00% | $521126128 |

---

---

| | |
|:---|:---|
| 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 the exclusive property and a service mark of MSCI Inc. and Standard & Poor's. |
| <sup>(b)</sup> | Non-income producing security. |
| <sup>(c)</sup> | All or a portion of this security was out on loan at January 31, 2023. |
| <sup>(d)</sup> | Affiliated issuer. The issuer and/or the Fund is a wholly-owned subsidiary of Invesco Ltd., or is affiliated by having an investment adviser that is under common control of Invesco Ltd. The table below shows the Fund's transactions in, and earnings from, its investments in affiliates for the nine months ended January 31, 2023. |

---

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;**Value<br> April 30, 2022** | &nbsp;&nbsp;&nbsp;**Purchases<br> at Cost** | &nbsp;&nbsp;&nbsp;**Proceeds<br> from Sales** | &nbsp;&nbsp;&nbsp;**Change in<br> Unrealized<br> Appreciation** | &nbsp;&nbsp;&nbsp;**Realized<br> Gain** | &nbsp;&nbsp;&nbsp;**Value<br> January 31, 2023** | &nbsp;&nbsp;&nbsp;**Dividend<br> Income** |
| &nbsp;&nbsp;**Investments in Affiliated Money Market Funds:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Invesco Government & Agency Portfolio, Institutional Class | &nbsp;&nbsp;&nbsp;&nbsp;$114354 | &nbsp;&nbsp;&nbsp;&nbsp;$4053293 | &nbsp;&nbsp;&nbsp;&nbsp;$(3976901) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;&nbsp;$190746 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$4351 |
| &nbsp;&nbsp;**Investments Purchased with Cash Collateral from Securities on Loan:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Invesco Private Government Fund | &nbsp;&nbsp;&nbsp;&nbsp;11548793 | &nbsp;&nbsp;&nbsp;&nbsp;191307857 | &nbsp;&nbsp;&nbsp;&nbsp;(180849631) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;22007019 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;442,589\* |
| &nbsp;&nbsp;Invesco Private Prime Fund | &nbsp;&nbsp;&nbsp;&nbsp;26909169 | &nbsp;&nbsp;&nbsp;&nbsp;406752590 | &nbsp;&nbsp;&nbsp;&nbsp;(377083489) | &nbsp;&nbsp;&nbsp;&nbsp;2511 | &nbsp;&nbsp;&nbsp;&nbsp;19699 | &nbsp;&nbsp;&nbsp;&nbsp;56600480 | &nbsp;&nbsp;&nbsp;&nbsp;1,212,504\* |
| &nbsp;&nbsp;Total | &nbsp;&nbsp;&nbsp;$38572316 | &nbsp;&nbsp;&nbsp;$602113740 | &nbsp;&nbsp;&nbsp;$(561910021) | &nbsp;&nbsp;&nbsp;$2511 | &nbsp;&nbsp;&nbsp;$19699 | &nbsp;&nbsp;&nbsp;$78798245 | &nbsp;&nbsp;&nbsp;$1659444 |

---

\* 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.

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

------

### Invesco Dynamic Semiconductors ETF (PSI)—(continued)<br>
January 31, 2023

(Unaudited)

<sup>(e)</sup> The rate shown is the 7-day SEC standardized yield as of January 31, 2023. <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><br>

### Invesco Dynamic Software ETF (PSJ)
January 31, 2023

(Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Shares** | &nbsp;&nbsp;**Value** |
| **Common Stocks & Other Equity Interests-100.01%** | **Common Stocks & Other Equity Interests-100.01%** | **Common Stocks & Other Equity Interests-100.01%** |
| **Advertising-8.45%** | **Advertising-8.45%** | **Advertising-8.45%** |
| Perion Network Ltd. (Israel)<sup>(b)</sup><br>| 197072 | &nbsp;&nbsp;$6601912 |
| Trade Desk, Inc. (The), Class A<sup>(b)</sup><br>| 187364 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9499355 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;16101267 |
| **Application Software-42.54%** | **Application Software-42.54%** | **Application Software-42.54%** |
| Agilysys, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;77161 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6447573 |
| Box, Inc., Class A<sup>(b)</sup><br>| 178221 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5701290 |
| Cadence Design Systems, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;56509 | &nbsp;&nbsp;&nbsp;&nbsp;10331540 |
| Consensus Cloud Solutions, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;81749 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4804389 |
| EngageSmart, Inc.<sup>(b)(c)</sup><br>| 297626 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5863232 |
| Fair Isaac Corp.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;8827 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5878341 |
| Instructure Holdings, Inc.<sup>(b)(c)</sup><br>| 215984 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5838048 |
| Manhattan Associates, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;41850 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5455566 |
| Model N, Inc.<sup>(b)(c)</sup><br>| 130992 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5195143 |
| Paycor HCM, Inc.<sup>(b)(c)</sup><br>| 190360 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4779940 |
| Paylocity Holding Corp.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;24529 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5109145 |
| PowerSchool Holdings, Inc., Class A<sup>(b)(c)</sup><br>| 256243 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5770592 |
| SPS Commerce, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;39371 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5357606 |
| Vertex, Inc., Class A<sup>(b)</sup><br>| 334853 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4520515 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;81052920 |
| **Communications Equipment-2.29%** | **Communications Equipment-2.29%** | **Communications Equipment-2.29%** |
| NetScout Systems, Inc.<sup>(b)(c)</sup><br>| 136109 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4369099 |
| **Data Processing & Outsourced Services-2.68%** | **Data Processing & Outsourced Services-2.68%** | **Data Processing & Outsourced Services-2.68%** |
| CSG Systems International, Inc.<sup>(c)</sup><br>| &nbsp;&nbsp;85515 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5102680 |
| **Health Care Technology-5.16%** | **Health Care Technology-5.16%** | **Health Care Technology-5.16%** |
| NextGen Healthcare, Inc.<sup>(b)(c)</sup><br>| 252177 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4796407 |
| Veradigm, Inc.<sup>(b)(c)</sup><br>| 280708 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5027480 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9823887 |
| **Interactive Home Entertainment-15.64%** | **Interactive Home Entertainment-15.64%** | **Interactive Home Entertainment-15.64%** |
| Activision Blizzard, Inc.<br>| 125845 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9635952 |
| Electronic Arts, Inc.<br>| &nbsp;&nbsp;71687 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9224683 |
| Roblox Corp., Class A<sup>(b)(c)</sup><br>| 293982 | &nbsp;&nbsp;&nbsp;&nbsp;10939070 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;29799705 |
| **Interactive Media & Services-8.17%** | **Interactive Media & Services-8.17%** | **Interactive Media & Services-8.17%** |
| Bumble, Inc., Class A<sup>(b)(c)</sup><br>| 220096 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5667472 |
| ZoomInfo Technologies, Inc., Class A<sup>(b)(c)</sup><br>| 350436 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9892808 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;15560280 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | &nbsp;&nbsp;**Value** |
| **Semiconductors-2.87%** | **Semiconductors-2.87%** | **Semiconductors-2.87%** |
| Rambus, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;135241 | &nbsp;&nbsp;&nbsp;&nbsp;$5473203 |
| **Systems Software-12.21%** | **Systems Software-12.21%** | **Systems Software-12.21%** |
| Check Point Software Technologies Ltd. (Israel)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9174300 |
| Fortinet, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;178813 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9359072 |
| Qualys, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4733106 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23266478 |
| &nbsp;&nbsp;&nbsp;Total Common Stocks & Other Equity Interests<br>(Cost $187,386,752) | &nbsp;&nbsp;&nbsp;Total Common Stocks & Other Equity Interests<br>(Cost $187,386,752) | &nbsp;&nbsp;190549519 |
| **Money Market Funds-0.00%** | **Money Market Funds-0.00%** | **Money Market Funds-0.00%** |
| Invesco Government & Agency Portfolio, Institutional Class, 4.30%<sup>(d)(e)</sup><br>(Cost $10,494)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10494 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10494 |
| TOTAL INVESTMENTS IN SECURITIES<br>(excluding investments purchased with cash collateral from securities on loan)-100.01%<br>(Cost $187,397,246) | TOTAL INVESTMENTS IN SECURITIES<br>(excluding investments purchased with cash collateral from securities on loan)-100.01%<br>(Cost $187,397,246) | &nbsp;&nbsp;190560013 |
| **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-13.73%** | **Money Market Funds-13.73%** | **Money Market Funds-13.73%** |
| Invesco Private Government Fund, 4.36%<sup>(d)(e)(f)</sup><br>| &nbsp;&nbsp;7321915 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7321915 |
| Invesco Private Prime Fund, 4.59%<sup>(d)(e)(f)</sup><br>| 18825918 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18831565 |
| &nbsp;&nbsp;&nbsp;Total Investments Purchased with Cash Collateral from Securities on Loan<br>(Cost $26,151,455) | &nbsp;&nbsp;&nbsp;Total Investments Purchased with Cash Collateral from Securities on Loan<br>(Cost $26,151,455) | &nbsp;&nbsp;&nbsp;&nbsp;26153480 |
| TOTAL INVESTMENTS IN SECURITIES-113.74%<br>(Cost $213,548,701) | TOTAL INVESTMENTS IN SECURITIES-113.74%<br>(Cost $213,548,701) | &nbsp;&nbsp;216713493 |
| OTHER ASSETS LESS LIABILITIES-(13.74)% | OTHER ASSETS LESS LIABILITIES-(13.74)% | &nbsp;&nbsp;&nbsp;(26186177) |
| NET ASSETS-100.00% | NET ASSETS-100.00% | $190527316 |

---

---

| | |
|:---|:---|
| 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 the exclusive property and a service mark of MSCI Inc. and Standard & Poor's. |
| <sup>(b)</sup> | Non-income producing security. |
| <sup>(c)</sup> | All or a portion of this security was out on loan at January 31, 2023. |
| <sup>(d)</sup> | Affiliated issuer. The issuer and/or the Fund is a wholly-owned subsidiary of Invesco Ltd., or is affiliated by having an investment adviser that is under common control of Invesco Ltd. The table below shows the Fund's transactions in, and earnings from, its investments in affiliates for the nine months ended January 31, 2023. |

---

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;**Value<br> April 30, 2022** | &nbsp;&nbsp;&nbsp;**Purchases<br> at Cost** | &nbsp;&nbsp;&nbsp;**Proceeds<br> from Sales** | &nbsp;&nbsp;&nbsp;**Change in<br> Unrealized<br> Appreciation** | &nbsp;&nbsp;&nbsp;**Realized<br> Gain** | &nbsp;&nbsp;&nbsp;**Value<br> January 31, 2023** | &nbsp;&nbsp;&nbsp;**Dividend<br> Income** |
| &nbsp;&nbsp;**Investments in Affiliated Money Market Funds:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Invesco Government & Agency Portfolio, Institutional Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$10951 | &nbsp;&nbsp;&nbsp;$21559053 | &nbsp;&nbsp;&nbsp;$(21559510) | &nbsp;&nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$10494 | &nbsp;&nbsp;&nbsp;&nbsp;$2927 |

---

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

------

### Invesco Dynamic Software ETF (PSJ)—(continued)<br>
January 31, 2023

(Unaudited)

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;**Value<br> April 30, 2022** | &nbsp;&nbsp;&nbsp;**Purchases<br> at Cost** | &nbsp;&nbsp;&nbsp;**Proceeds<br> from Sales** | &nbsp;&nbsp;&nbsp;**Change in<br> Unrealized<br> Appreciation** | &nbsp;&nbsp;&nbsp;**Realized<br> Gain** | &nbsp;&nbsp;&nbsp;**Value<br> January 31, 2023** | &nbsp;&nbsp;&nbsp;**Dividend<br> Income** |
| &nbsp;&nbsp;**Investments Purchased with Cash Collateral from Securities on Loan:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Invesco Private Government Fund | &nbsp;&nbsp;&nbsp;$11459301 | &nbsp;&nbsp;&nbsp;$100260514 | &nbsp;&nbsp;&nbsp;$(104397900) | &nbsp;&nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;$7321915 | &nbsp;&nbsp;&nbsp;$227,874\* |
| &nbsp;&nbsp;Invesco Private Prime Fund | &nbsp;&nbsp;&nbsp;&nbsp;26722975 | &nbsp;&nbsp;&nbsp;&nbsp;220450772 | &nbsp;&nbsp;&nbsp;&nbsp;(228354457) | &nbsp;&nbsp;&nbsp;&nbsp;716 | &nbsp;&nbsp;&nbsp;&nbsp;11559 | &nbsp;&nbsp;&nbsp;&nbsp;18831565 | &nbsp;&nbsp;&nbsp;&nbsp;625,597\* |
| &nbsp;&nbsp;Total | &nbsp;&nbsp;&nbsp;$38193227 | &nbsp;&nbsp;&nbsp;$342270339 | &nbsp;&nbsp;&nbsp;$(354311867) | &nbsp;&nbsp;&nbsp;$716 | &nbsp;&nbsp;&nbsp;$11559 | &nbsp;&nbsp;&nbsp;$26163974 | &nbsp;&nbsp;&nbsp;$856398 |

---

\* 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.

<sup>(e)</sup> The rate shown is the 7-day SEC standardized yield as of January 31, 2023. <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
January 31, 2023

(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.

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 January 31, 2023. 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.

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;**Level 1** | &nbsp;&nbsp;&nbsp;**Level 2** | &nbsp;&nbsp;&nbsp;**Level 3** | &nbsp;&nbsp;&nbsp;**Total** |
| &nbsp;&nbsp;Invesco Dynamic Biotechnology & Genome ETF |  |  |  |  |
| &nbsp;&nbsp;**Investments in Securities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Common Stocks & Other Equity Interests | &nbsp;&nbsp;&nbsp;$267336386 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;$267336386 |
| &nbsp;&nbsp;&nbsp;Money Market Funds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;181304 | &nbsp;&nbsp;&nbsp;&nbsp;48493002 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48674306 |
| &nbsp;&nbsp;&nbsp;**Total Investments** | &nbsp;&nbsp;&nbsp;$267517690 | &nbsp;&nbsp;&nbsp;$48493002 | &nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;$316010692 |
| &nbsp;&nbsp;Invesco Dynamic Building & Construction ETF |  |  |  |  |
| &nbsp;&nbsp;**Investments in Securities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Common Stocks & Other Equity Interests | &nbsp;&nbsp;&nbsp;$113870636 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;$113870636 |
| &nbsp;&nbsp;&nbsp;Money Market Funds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;102610 | &nbsp;&nbsp;&nbsp;&nbsp;17385410 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17488020 |
| &nbsp;&nbsp;&nbsp;**Total Investments** | &nbsp;&nbsp;&nbsp;$113973246 | &nbsp;&nbsp;&nbsp;$17385410 | &nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;$131358656 |
| &nbsp;&nbsp;Invesco Dynamic Energy Exploration & Production ETF |  |  |  |  |
| &nbsp;&nbsp;**Investments in Securities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Common Stocks & Other Equity Interests | &nbsp;&nbsp;&nbsp;$306545502 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;$306545502 |
| &nbsp;&nbsp;&nbsp;Money Market Funds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;203254 | &nbsp;&nbsp;&nbsp;&nbsp;42625852 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42829106 |
| &nbsp;&nbsp;&nbsp;**Total Investments** | &nbsp;&nbsp;&nbsp;$306748756 | &nbsp;&nbsp;&nbsp;$42625852 | &nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;$349374608 |
| &nbsp;&nbsp;Invesco Dynamic Food & Beverage ETF |  |  |  |  |
| &nbsp;&nbsp;**Investments in Securities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Common Stocks & Other Equity Interests | &nbsp;&nbsp;&nbsp;$352244917 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;$352244917 |
| &nbsp;&nbsp;&nbsp;Money Market Funds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;23287218 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23287218 |
| &nbsp;&nbsp;&nbsp;**Total Investments** | &nbsp;&nbsp;&nbsp;$352244917 | &nbsp;&nbsp;&nbsp;$23287218 | &nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;$375532135 |
| &nbsp;&nbsp;Invesco Dynamic Leisure and Entertainment ETF |  |  |  |  |
| &nbsp;&nbsp;**Investments in Securities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Common Stocks & Other Equity Interests | &nbsp;&nbsp;&nbsp;$492766593 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;$492766593 |
| &nbsp;&nbsp;&nbsp;Money Market Funds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89912 | &nbsp;&nbsp;&nbsp;&nbsp;89704913 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89794825 |
| &nbsp;&nbsp;&nbsp;**Total Investments** | &nbsp;&nbsp;&nbsp;$492856505 | &nbsp;&nbsp;&nbsp;$89704913 | &nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;$582561418 |

---

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;**Level 1** | &nbsp;&nbsp;&nbsp;**Level 2** | &nbsp;&nbsp;&nbsp;**Level 3** | &nbsp;&nbsp;&nbsp;**Total** |
| &nbsp;&nbsp;Invesco Dynamic Media ETF |  |  |  |  |
| &nbsp;&nbsp;**Investments in Securities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Common Stocks & Other Equity Interests | &nbsp;&nbsp;&nbsp;$36724861 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;$36724861 |
| &nbsp;&nbsp;&nbsp;Money Market Funds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;11273363 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11273363 |
| &nbsp;&nbsp;&nbsp;**Total Investments** | &nbsp;&nbsp;&nbsp;$36724861 | &nbsp;&nbsp;&nbsp;$11273363 | &nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;$47998224 |
| &nbsp;&nbsp;Invesco Dynamic Networking ETF |  |  |  |  |
| &nbsp;&nbsp;**Investments in Securities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Common Stocks & Other Equity Interests | &nbsp;&nbsp;&nbsp;$28825821 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;$28825821 |
| &nbsp;&nbsp;&nbsp;Money Market Funds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73233 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6182243 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6255476 |
| &nbsp;&nbsp;&nbsp;**Total Investments** | &nbsp;&nbsp;&nbsp;$28899054 | &nbsp;&nbsp;&nbsp;$6182243 | &nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;$35081297 |
| &nbsp;&nbsp;Invesco Dynamic Oil & Gas Services ETF |  |  |  |  |
| &nbsp;&nbsp;**Investments in Securities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Common Stocks & Other Equity Interests | &nbsp;&nbsp;&nbsp;$88308883 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;$88308883 |
| &nbsp;&nbsp;&nbsp;Money Market Funds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99682 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5951281 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6050963 |
| &nbsp;&nbsp;&nbsp;**Total Investments** | &nbsp;&nbsp;&nbsp;$88408565 | &nbsp;&nbsp;&nbsp;$5951281 | &nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;$94359846 |
| &nbsp;&nbsp;Invesco Dynamic Pharmaceuticals ETF |  |  |  |  |
| &nbsp;&nbsp;**Investments in Securities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Common Stocks & Other Equity Interests | &nbsp;&nbsp;&nbsp;$327183916 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;$0 | &nbsp;&nbsp;&nbsp;$327183916 |
| &nbsp;&nbsp;&nbsp;Money Market Funds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99298 | &nbsp;&nbsp;&nbsp;&nbsp;24601578 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24700876 |
| &nbsp;&nbsp;&nbsp;**Total Investments** | &nbsp;&nbsp;&nbsp;$327283214 | &nbsp;&nbsp;&nbsp;$24601578 | &nbsp;&nbsp;&nbsp;$0 | &nbsp;&nbsp;&nbsp;$351884792 |
| &nbsp;&nbsp;Invesco Dynamic Semiconductors ETF |  |  |  |  |
| &nbsp;&nbsp;**Investments in Securities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Common Stocks & Other Equity Interests | &nbsp;&nbsp;&nbsp;$521133608 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;$521133608 |
| &nbsp;&nbsp;&nbsp;Money Market Funds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;190746 | &nbsp;&nbsp;&nbsp;&nbsp;78607499 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78798245 |
| &nbsp;&nbsp;&nbsp;**Total Investments** | &nbsp;&nbsp;&nbsp;$521324354 | &nbsp;&nbsp;&nbsp;$78607499 | &nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;$599931853 |
| &nbsp;&nbsp;Invesco Dynamic Software ETF |  |  |  |  |
| &nbsp;&nbsp;**Investments in Securities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Common Stocks & Other Equity Interests | &nbsp;&nbsp;&nbsp;$190549519 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;$190549519 |
| &nbsp;&nbsp;&nbsp;Money Market Funds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10494 | &nbsp;&nbsp;&nbsp;&nbsp;26153480 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26163974 |
| &nbsp;&nbsp;&nbsp;**Total Investments** | &nbsp;&nbsp;&nbsp;$190560013 | &nbsp;&nbsp;&nbsp;$26153480 | &nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;$216713493 |

---

## 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 Dynamic Software ETF

- **b. EDGAR series identifier (if any):** S000003033

- **c. LEI of Series:** 549300U2XUTJF7H4HV96

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

- **a. Date of fiscal year-end:** 2023-04-30

- **b. Date as of which information is reported:** 2023-01-31

**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:** $216897901.61

**Total Liabilities:** $26368409.82

**Net Assets:** $190529491.79

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000008300 | 0.53%                | -4.72%               | 6.83%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-16932403.16            | $17982049.56                               |
| Month 2  | $10638.76                | $-9211383.31                               |
| Month 3  | $223661.71               | $12183326.58                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Cadence Design Systems, Inc.           | Cadence Design Systems, Inc.                               | CUSIP: 127387108<br>LEI: GCT7RXJOGLXPV0NXZY22 | Long             | EC               | CORP              | US        |     55069 | NS      | $10068265.27  | 5.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Check Point Software Technologies Ltd. | Check Point Software Technologies Ltd.                     | CUSIP: M22465104<br>LEI: 2549003ZVBH73EPNS513 | Long             | EC               | CORP              | IL        |     70285 | NS      | $8940252.00   | 4.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Invesco Government & Agency Portfolio  | Invesco Government & Agency Portfolio, Institutional Class | CUSIP: 825252885<br>LEI: 5493007T1J7WZ5QI1A47 | Long             | STIV             | RF                | US        |     10494 | NS      | $10494.43     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Fair Isaac Corp.                       | Fair Isaac Corp.                                           | CUSIP: 303250104<br>LEI: RI6HET5SJUEY30V1PS26 | Long             | EC               | CORP              | US        |      8602 | NS      | $5728501.90   | 3.01%             |  |  |  | No            |                  1 | On Loan: —       |
| Model N, Inc.                          | Model N, Inc.                                              | CUSIP: 607525102<br>LEI: 549300WCIL3W0EYSBN94 | Long             | EC               | CORP              | US        |    127655 | NS      | $5062797.30   | 2.66%             |  |  |  | No            |                  1 | On Loan: —       |
| Perion Network Ltd.                    | Perion Network Ltd.                                        | CUSIP: M78673114<br>LEI: 529900SL7HYNVD6HG708 | Long             | EC               | CORP              | IL        |    192047 | NS      | $6433574.50   | 3.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Consensus Cloud Solutions, Inc.        | Consensus Cloud Solutions, Inc.                            | CUSIP: 20848V105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     79668 | NS      | $4682088.36   | 2.46%             |  |  |  | No            |                  1 | On Loan: —       |
| Veradigm Inc.                          | Veradigm Inc.                                              | CUSIP: 01988P108<br>LEI: Y68YJHVB1GU4TAU3C223 | Long             | EC               | CORP              | US        |    273551 | NS      | $4899298.41   | 2.57%             |  |  |  | No            |                  1 | On Loan: —       |
| Box, Inc.                              | Box, Inc., Class A                                         | CUSIP: 10316T104<br>LEI: 549300KQUCPD8687YS68 | Long             | EC               | CORP              | US        |    173679 | NS      | $5555991.21   | 2.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Paylocity Holding Corp.                | Paylocity Holding Corp.                                    | CUSIP: 70438V106<br>LEI: 549300VH75FTB4DIEE07 | Long             | EC               | CORP              | US        |     23903 | NS      | $4978755.87   | 2.61%             |  |  |  | No            |                  1 | On Loan: —       |
| Trade Desk, Inc. (The)                 | Trade Desk, Inc. (The), Class A                            | CUSIP: 88339J105<br>LEI: 549300GXPD31VT3E0P46 | Long             | EC               | CORP              | US        |    182586 | NS      | $9257110.20   | 4.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Vertex, Inc.                           | Vertex, Inc., Class A                                      | CUSIP: 92538J106<br>LEI: 549300QMYW171MP1PL50 | Long             | EC               | CORP              | US        |    326317 | NS      | $4405279.50   | 2.31%             |  |  |  | No            |                  1 | On Loan: No      |
| KnowBe4, Inc.                          | KnowBe4, Inc., Class A                                     | CUSIP: 49926T104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    200840 | NS      | $4998907.60   | 2.62%             |  |  |  | No            |                  1 | On Loan: —       |
| Agilysys, Inc.                         | Agilysys, Inc.                                             | CUSIP: 00847J105<br>LEI: 5299001XWB5V3B5IPN93 | Long             | EC               | CORP              | US        |     75191 | NS      | $6282959.96   | 3.30%             |  |  |  | No            |                  1 | On Loan: —       |
| EngageSmart Inc.                       | EngageSmart Inc.                                           | CUSIP: 29283F103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    290039 | NS      | $5713768.30   | 3.00%             |  |  |  | No            |                  1 | On Loan: —       |
| Qualys, Inc.                           | Qualys, Inc.                                               | CUSIP: 74758T303<br>LEI: 549300EMBXYOW9W1XA17 | Long             | EC               | CORP              | US        |     39984 | NS      | $4612554.24   | 2.42%             |  |  |  | No            |                  1 | On Loan: —       |
| ZoomInfo Technologies Inc.             | ZoomInfo Technologies Inc.                                 | CUSIP: 98980F104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    341507 | NS      | $9640742.61   | 5.06%             |  |  |  | No            |                  1 | On Loan: —       |
| Roblox Corp.                           | Roblox Corp., Class A                                      | CUSIP: 771049103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    286487 | NS      | $10660181.27  | 5.60%             |  |  |  | No            |                  1 | On Loan: —       |
| INVESCO PRIVATE GOVERNMENT FUND        | INVESCO PRIVATE GOVERNMENT FUND                            | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             | PF                | US        |   7321915 | NS      | $7321915.49   | 3.84%             |  |  |  | No            |                  2 | On Loan: No      |
| SPS Commerce, Inc.                     | SPS Commerce, Inc.                                         | CUSIP: 78463M107<br>LEI: 2549006XVF9GCCETDQ72 | Long             | EC               | CORP              | US        |     38366 | NS      | $5220845.28   | 2.74%             |  |  |  | No            |                  1 | On Loan: —       |
| Fortinet, Inc.                         | Fortinet, Inc.                                             | CUSIP: 34959E109<br>LEI: 549300O0QJWDBAS0QX03 | Long             | EC               | CORP              | US        |    174255 | NS      | $9120506.70   | 4.79%             |  |  |  | No            |                  1 | On Loan: —       |
| Powerschool Holdings, Inc.             | Powerschool Holdings, Inc.                                 | CUSIP: 73939C106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    249711 | NS      | $5623491.72   | 2.95%             |  |  |  | No            |                  1 | On Loan: —       |
| Activision Blizzard, Inc.              | Activision Blizzard, Inc.                                  | CUSIP: 00507V109<br>LEI: 549300TPQQDBP9GNOF40 | Long             | EC               | CORP              | US        |    122635 | NS      | $9390161.95   | 4.93%             |  |  |  | No            |                  1 | On Loan: No      |
| CSG Systems International, Inc.        | CSG Systems International, Inc.                            | CUSIP: 126349109<br>LEI: 549300D7FJZUOHHXUA81 | Long             | EC               | CORP              | US        |     83337 | NS      | $4972718.79   | 2.61%             |  |  |  | No            |                  1 | On Loan: —       |
| INVESCO PRIVATE PRIME FUND             | INVESCO PRIVATE PRIME FUND                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             | PF                | US        |  18825918 | NS      | $18831565.41  | 9.88%             |  |  |  | No            |                  2 | On Loan: No      |
| Manhattan Associates, Inc.             | Manhattan Associates, Inc.                                 | CUSIP: 562750109<br>LEI: 529900Q1GJP7KD52SW51 | Long             | EC               | CORP              | US        |     40784 | NS      | $5316602.24   | 2.79%             |  |  |  | No            |                  1 | On Loan: —       |
| Instructure Holdings, Inc.             | Instructure Holdings, Inc.                                 | CUSIP: 457790103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    210478 | NS      | $5689220.34   | 2.99%             |  |  |  | No            |                  1 | On Loan: —       |
| Paycor HCM Inc.                        | Paycor HCM Inc.                                            | CUSIP: 70435P102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    185512 | NS      | $4658206.32   | 2.44%             |  |  |  | No            |                  1 | On Loan: —       |
| NetScout Systems, Inc.                 | NetScout Systems, Inc.                                     | CUSIP: 64115T104<br>LEI: 5493005HZXZ3SPNVCV76 | Long             | EC               | CORP              | US        |    132639 | NS      | $4257711.90   | 2.23%             |  |  |  | No            |                  1 | On Loan: —       |
| Bumble Inc.                            | Bumble Inc., Class A                                       | CUSIP: 12047B105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    214488 | NS      | $5523066.00   | 2.90%             |  |  |  | No            |                  1 | On Loan: —       |
| NextGen Healthcare, Inc.               | NextGen Healthcare, Inc.                                   | CUSIP: 65343C102<br>LEI: 549300N5HIPS1URF0F20 | Long             | EC               | CORP              | US        |    245749 | NS      | $4674145.98   | 2.45%             |  |  |  | No            |                  1 | On Loan: —       |
| Electronic Arts Inc.                   | Electronic Arts Inc.                                       | CUSIP: 285512109<br>LEI: 549300O7A67PUEYKDL45 | Long             | EC               | CORP              | US        |     69864 | NS      | $8990099.52   | 4.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Rambus Inc.                            | Rambus Inc.                                                | CUSIP: 750917106<br>LEI: 2549000211GDCQSLV833 | Long             | EC               | CORP              | US        |    131797 | NS      | $5333824.59   | 2.80%             |  |  |  | No            |                  1 | On Loan: —       |

### Signature

**Date Signed:** 2023-03-02

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

**Signature:** Sheri Morris

**Name of Signer:** Sheri Morris

**Title:** Vice President