# EDGAR Filing Document

**Accession Number:** 0001209466
**File Stem:** 0001209466-25-000146
**Filing Date:** 2025-9
**Character Count:** 196405
**Document Hash:** d8fb161d4eed5b5d1c030ae4dbe700c3
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001209466-25-000146.hdr.sgml**: 20250926

**ACCESSION NUMBER**: 0001209466-25-000146

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250731

**FILED AS OF DATE**: 20250926

**DATE AS OF CHANGE**: 20250926

**PERIOD START**: 20260430

**FILER**: 

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

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

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-21265
- **FILM NUMBER:** 251346683

**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 Large Cap Growth ETF (Series ID: S000003054)

| Class ID   | Class Name                   | Ticker Symbol   |
|:---|:---|:---|
| C000008321 | Invesco Large Cap Growth ETF | PWB             |

## Nport-Ex

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

**Invesco Large Cap Growth ETF (PWB)**

July 31, 2025

*(Unaudited)*

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

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Common Stocks & Other Equity Interests-99.98%** | **Common Stocks & Other Equity Interests-99.98%** | **Common Stocks & Other Equity Interests-99.98%** |
| **Communication Services-9.99%** | **Communication Services-9.99%** | **Communication Services-9.99%** |
| Meta Platforms, Inc., Class A | 58905 | &nbsp;&nbsp; $45559483 |
| Netflix, Inc.<sup>(b)</sup> | 31246 | &nbsp;&nbsp; 36226613 |
| Roblox Corp., Class A<sup>(b)(c)</sup> | 189795 | &nbsp;&nbsp; 26151853 |
| Spotify Technology S.A. (Sweden)<sup>(b)</sup> | 24817 | &nbsp;&nbsp; 15548843 |
|  |  | &nbsp;&nbsp; 123486792 |
| **Consumer Discretionary-13.05%** | **Consumer Discretionary-13.05%** | **Consumer Discretionary-13.05%** |
| Amazon.com, Inc.<sup>(b)</sup> | 183637 | &nbsp;&nbsp; 42991258 |
| AutoZone, Inc.<sup>(b)</sup> | 4383 | &nbsp;&nbsp; 16516809 |
| Booking Holdings, Inc. | 2976 | &nbsp;&nbsp; 16380083 |
| DoorDash, Inc., Class A<sup>(b)</sup> | 79130 | &nbsp;&nbsp; 19802282 |
| Hilton Worldwide Holdings, Inc. | 64072 | &nbsp;&nbsp; 17176422 |
| MercadoLibre, Inc. (Brazil)<sup>(b)</sup> | 6343 | &nbsp;&nbsp; 15057584 |
| O'Reilly Automotive, Inc.<sup>(b)</sup> | 178549 | &nbsp;&nbsp; 17554938 |
| TJX Cos., Inc. (The) | 126709 | &nbsp;&nbsp; 15779072 |
|  |  | &nbsp;&nbsp; 161258448 |
| **Consumer Staples-6.84%** | **Consumer Staples-6.84%** | **Consumer Staples-6.84%** |
| Costco Wholesale Corp. | 37224 | &nbsp;&nbsp; 34977159 |
| Monster Beverage Corp.<sup>(b)</sup> | 252393 | &nbsp;&nbsp; 14828089 |
| Philip Morris International, Inc. | 211361 | &nbsp;&nbsp; 34673772 |
|  |  | &nbsp;&nbsp; 84479020 |
| **Financials-16.60%** | **Financials-16.60%** | **Financials-16.60%** |
| American Express Co. | 128959 | &nbsp;&nbsp; 38598718 |
| Charles Schwab Corp. (The) | 182936 | &nbsp;&nbsp; 17878335 |
| Intercontinental Exchange, Inc. | 90809 | &nbsp;&nbsp; 16784228 |
| Mastercard, Inc., Class A | 65927 | &nbsp;&nbsp; 37345668 |
| Nasdaq, Inc. | 195207 | &nbsp;&nbsp; 18782818 |
| Progressive Corp. (The) | 58166 | &nbsp;&nbsp; 14078499 |
| Robinhood Markets, Inc., Class A<sup>(b)</sup> | 245747 | &nbsp;&nbsp; 25324228 |
| Visa, Inc., Class A | 105428 | &nbsp;&nbsp; 36422211 |
|  |  | &nbsp;&nbsp; 205214705 |
| **Health Care-6.81%** | **Health Care-6.81%** | **Health Care-6.81%** |
| Boston Scientific Corp.<sup>(b)</sup> | 152714 | &nbsp;&nbsp; 16022753 |
| Intuitive Surgical, Inc.<sup>(b)</sup> | 68852 | &nbsp;&nbsp; 33124009 |
| McKesson Corp. | 22513 | &nbsp;&nbsp; 15613666 |
| Veeva Systems, Inc., Class A<sup>(b)(c)</sup> | 68117 | &nbsp;&nbsp; 19358851 |
|  |  | &nbsp;&nbsp; 84119279 |
| **Industrials-14.43%** | **Industrials-14.43%** | **Industrials-14.43%** |
| Automatic Data Processing, Inc. | 49781 | &nbsp;&nbsp; 15407220 |
| Cintas Corp. | 71778 | &nbsp;&nbsp; 15974194 |
| GE Vernova, Inc. | 34384 | &nbsp;&nbsp; 22703411 |
| General Electric Co. | 156656 | &nbsp;&nbsp; 42466308 |
| Howmet Aerospace, Inc. | 95732 | &nbsp;&nbsp; 17209742 |
| Quanta Services, Inc. | 47493 | &nbsp;&nbsp; 19288332 |
| Republic Services, Inc. | 63601 | &nbsp;&nbsp; 14669571 |
| Trane Technologies PLC | 37168 | &nbsp;&nbsp; 16282557 |
| Verisk Analytics, Inc. | 51276 | &nbsp;&nbsp; 14291134 |
|  |  | &nbsp;&nbsp; 178292469 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Information Technology-30.59%** | **Information Technology-30.59%** | **Information Technology-30.59%** |
| Amphenol Corp., Class A | 183643 | &nbsp;&nbsp; $19559816 |
| Apple, Inc. | 189218 | &nbsp;&nbsp; 39275980 |
| AppLovin Corp., Class A<sup>(b)</sup> | 42566 | &nbsp;&nbsp; 16630536 |
| Arista Networks, Inc.<sup>(b)</sup> | 175308 | &nbsp;&nbsp; 21601452 |
| Autodesk, Inc.<sup>(b)</sup> | 53981 | &nbsp;&nbsp; 16362181 |
| Broadcom, Inc. | 160615 | &nbsp;&nbsp; 47172625 |
| Fair Isaac Corp.<sup>(b)</sup> | 10775 | &nbsp;&nbsp; 15480658 |
| Fortinet, Inc.<sup>(b)</sup> | 154799 | &nbsp;&nbsp; 15464420 |
| KLA Corp. | 20552 | &nbsp;&nbsp; 18065825 |
| Microsoft Corp. | 82231 | &nbsp;&nbsp; 43870239 |
| NVIDIA Corp. | 279575 | &nbsp;&nbsp; 49728005 |
| Oracle Corp. | 233968 | &nbsp;&nbsp; 59374059 |
| Workday, Inc., Class A<sup>(b)(c)</sup> | 67750 | &nbsp;&nbsp; 15540495 |
|  |  | &nbsp;&nbsp; 378126291 |
| **Utilities-1.67%** | **Utilities-1.67%** | **Utilities-1.67%** |
| Vistra Corp. | 98943 | &nbsp;&nbsp; 20633573 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks & Other Equity Interests <br>(Cost $924,512,906) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks & Other Equity Interests <br>(Cost $924,512,906) | &nbsp;&nbsp; 1235610577 |
| **Money Market Funds-0.08%** | **Money Market Funds-0.08%** | **Money Market Funds-0.08%** |
| &nbsp;&nbsp;&nbsp; Invesco Government & Agency Portfolio, <br> Institutional Class, 4.25%<sup>(d)(e)</sup> <br>(Cost $943,994)<br>| 943994 | &nbsp;&nbsp; 943994 |
| &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES <br>(excluding investments purchased with cash collateral <br> from securities on loan)-100.06% <br>(Cost $925,456,900) | &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES <br>(excluding investments purchased with cash collateral <br> from securities on loan)-100.06% <br>(Cost $925,456,900) | &nbsp;&nbsp; 1236554571 |
| **Investments Purchased with Cash Collateral from Securities** <br> **on Loan** | **Investments Purchased with Cash Collateral from Securities** <br> **on Loan** | **Investments Purchased with Cash Collateral from Securities** <br> **on Loan** |
| **Money Market Funds-0.36%** | **Money Market Funds-0.36%** | **Money Market Funds-0.36%** |
| &nbsp;&nbsp;&nbsp; Invesco Private Government Fund, <br> 4.32%<sup>(d)(e)(f)</sup><br>| 1259768 | &nbsp;&nbsp; 1259768 |
| Invesco Private Prime Fund, 4.46%<sup>(d)(e)(f)</sup> | 3260784 | &nbsp;&nbsp; 3261436 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Investments Purchased with Cash Collateral from <br> Securities on Loan <br>(Cost $4,521,204) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Investments Purchased with Cash Collateral from <br> Securities on Loan <br>(Cost $4,521,204) | &nbsp;&nbsp; 4521204 |
| &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES-100.42% <br>(Cost $929,978,104) | &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES-100.42% <br>(Cost $929,978,104) | &nbsp;&nbsp; 1241075775 |
| OTHER ASSETS LESS LIABILITIES-(0.42)% | OTHER ASSETS LESS LIABILITIES-(0.42)% | &nbsp;&nbsp; (5185812)<br>|
| NET ASSETS-100.00% | NET ASSETS-100.00% | &nbsp;&nbsp; $1235889963 |

---

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

------

**Invesco Large Cap Growth ETF (PWB)—(continued)**

July 31, 2025

*(Unaudited)*

---

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

---

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

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Value** <br>**April 30, 2025**<br>| **Purchases** <br>**at Cost**<br>| **Proceeds** <br>**from Sales**<br>| **Change in** <br>**Unrealized** <br>**Appreciation**<br>| **Realized** <br>**Gain** <br>**(Loss)**<br>| **Value** <br>**July 31, 2025**<br>| **Dividend Income** |
| **Investments in Affiliated** <br> **Money Market Funds:**<br>|  |  |  |  |  |  |  |
| &nbsp;&nbsp; Invesco Government & Agency <br> Portfolio, Institutional Class<br>| &nbsp;&nbsp;&nbsp; $582888 | &nbsp;&nbsp;&nbsp; $1419439 | &nbsp;&nbsp;&nbsp; $(1058333)<br>| &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $943994 | &nbsp;&nbsp;&nbsp; $8039 |
| **Investments Purchased with** <br> **Cash Collateral from** <br> **Securities on Loan:**<br>|  |  |  |  |  |  |  |
| &nbsp;&nbsp; Invesco Private Government <br> Fund<br>| &nbsp;&nbsp;&nbsp; 9023694 | &nbsp;&nbsp;&nbsp; 41462198 | &nbsp;&nbsp;&nbsp; (49226124)<br>| &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; 1259768 | &nbsp;&nbsp;&nbsp; 14,565<br> \*<br>|
| &nbsp;&nbsp; Invesco Private Prime Fund | &nbsp;&nbsp;&nbsp; 23483510 | &nbsp;&nbsp;&nbsp; 106550155 | &nbsp;&nbsp;&nbsp; (126772218)<br>| &nbsp;&nbsp;&nbsp; 120 | &nbsp;&nbsp;&nbsp; (131)<br>| &nbsp;&nbsp;&nbsp; 3261436 | &nbsp;&nbsp;&nbsp; 40,061<br> \*<br>|
| &nbsp;&nbsp; Total | &nbsp;&nbsp;&nbsp; $33090092 | &nbsp;&nbsp;&nbsp; $149431792 | &nbsp;&nbsp;&nbsp; $(177056675)<br>| &nbsp;&nbsp;&nbsp; $120 | &nbsp;&nbsp;&nbsp; $(131)<br>| &nbsp;&nbsp;&nbsp; $5465198 | &nbsp;&nbsp;&nbsp; $62665 |

---

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

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

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

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

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

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

------

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

**Invesco Large Cap Value ETF (PWV)**

July 31, 2025

*(Unaudited)*

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

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Common Stocks & Other Equity Interests-99.84%** | **Common Stocks & Other Equity Interests-99.84%** | **Common Stocks & Other Equity Interests-99.84%** |
| **Communication Services-8.60%** | **Communication Services-8.60%** | **Communication Services-8.60%** |
| AT&T, Inc. | 1324852 | &nbsp;&nbsp; $36314193 |
| Charter Communications, Inc., Class A<sup>(b)</sup> | 37838 | &nbsp;&nbsp; 10192044 |
| Comcast Corp., Class A | 444969 | &nbsp;&nbsp; 14786320 |
| T-Mobile US, Inc. | 149115 | &nbsp;&nbsp; 35550507 |
|  |  | &nbsp;&nbsp; 96843064 |
| **Consumer Discretionary-2.87%** | **Consumer Discretionary-2.87%** | **Consumer Discretionary-2.87%** |
| General Motors Co. | 316809 | &nbsp;&nbsp; 16898592 |
| Lowe's Cos., Inc. | 68879 | &nbsp;&nbsp; 15399278 |
|  |  | &nbsp;&nbsp; 32297870 |
| **Consumer Staples-7.09%** | **Consumer Staples-7.09%** | **Consumer Staples-7.09%** |
| Altria Group, Inc. | 260844 | &nbsp;&nbsp; 16156677 |
| Kroger Co. (The) | 229287 | &nbsp;&nbsp; 16073019 |
| Mondelez International, Inc., Class A | 232478 | &nbsp;&nbsp; 15039002 |
| Procter & Gamble Co. (The) | 216315 | &nbsp;&nbsp; 32548918 |
|  |  | &nbsp;&nbsp; 79817616 |
| **Energy-14.01%** | **Energy-14.01%** | **Energy-14.01%** |
| Cheniere Energy, Inc. | 67138 | &nbsp;&nbsp; 15836511 |
| Chevron Corp. | 263257 | &nbsp;&nbsp; 39920291 |
| Energy Transfer L.P. | 866415 | &nbsp;&nbsp; 15630127 |
| Exxon Mobil Corp. | 350529 | &nbsp;&nbsp; 39133058 |
| Kinder Morgan, Inc. | 551691 | &nbsp;&nbsp; 15480449 |
| Marathon Petroleum Corp. | 95820 | &nbsp;&nbsp; 16307606 |
| Williams Cos., Inc. (The) | 258768 | &nbsp;&nbsp; 15513142 |
|  |  | &nbsp;&nbsp; 157821184 |
| **Financials-31.63%** | **Financials-31.63%** | **Financials-31.63%** |
| Aflac, Inc. | 150407 | &nbsp;&nbsp; 14944439 |
| Allstate Corp. (The) | 75029 | &nbsp;&nbsp; 15249644 |
| American International Group, Inc. | 187000 | &nbsp;&nbsp; 14516810 |
| Ameriprise Financial, Inc. | 30037 | &nbsp;&nbsp; 15564873 |
| Bank of America Corp. | 820602 | &nbsp;&nbsp; 38789857 |
| Bank of New York Mellon Corp. (The) | 172371 | &nbsp;&nbsp; 17487038 |
| Goldman Sachs Group, Inc. (The) | 58927 | &nbsp;&nbsp; 42638988 |
| JPMorgan Chase & Co. | 136786 | &nbsp;&nbsp; 40521485 |
| MetLife, Inc. | 196788 | &nbsp;&nbsp; 14946049 |
| Morgan Stanley | 280837 | &nbsp;&nbsp; 40008039 |
| PayPal Holdings, Inc.<sup>(b)</sup> | 217552 | &nbsp;&nbsp; 14958875 |
| Prudential Financial, Inc. | 148776 | &nbsp;&nbsp; 15410218 |
| Travelers Cos., Inc. (The) | 56373 | &nbsp;&nbsp; 14670510 |
| Truist Financial Corp. | 388501 | &nbsp;&nbsp; 16981379 |
| Wells Fargo & Co. | 490437 | &nbsp;&nbsp; 39543935 |
|  |  | &nbsp;&nbsp; 356232139 |
| **Health Care-10.60%** | **Health Care-10.60%** | **Health Care-10.60%** |
| AbbVie, Inc. | 195381 | &nbsp;&nbsp; 36930917 |
| Cigna Group (The) | 49322 | &nbsp;&nbsp; 13187716 |
| CVS Health Corp. | 253529 | &nbsp;&nbsp; 15744151 |
| HCA Healthcare, Inc. | 41074 | &nbsp;&nbsp; 14539785 |
| Johnson & Johnson | 236792 | &nbsp;&nbsp; 39009114 |
|  |  | &nbsp;&nbsp; 119411683 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Industrials-4.36%** | **Industrials-4.36%** | **Industrials-4.36%** |
| 3M Co. | 104026 | &nbsp;&nbsp; $15522760 |
| Cummins, Inc. | 47659 | &nbsp;&nbsp; 17520401 |
| Deere & Co. | 30526 | &nbsp;&nbsp; 16006919 |
|  |  | &nbsp;&nbsp; 49050080 |
| **Information Technology-11.48%** | **Information Technology-11.48%** | **Information Technology-11.48%** |
| Cisco Systems, Inc. | 569203 | &nbsp;&nbsp; 38751340 |
| International Business Machines Corp. | 137866 | &nbsp;&nbsp; 34900778 |
| QUALCOMM, Inc. | 244151 | &nbsp;&nbsp; 35831601 |
| TE Connectivity PLC (Switzerland) | 96377 | &nbsp;&nbsp; 19829568 |
|  |  | &nbsp;&nbsp; 129313287 |
| **Materials-1.63%** | **Materials-1.63%** | **Materials-1.63%** |
| Newmont Corp.<sup>(c)</sup> | 295050 | &nbsp;&nbsp; 18322605 |
| **Real Estate-1.74%** | **Real Estate-1.74%** | **Real Estate-1.74%** |
| CBRE Group, Inc., Class A<sup>(b)</sup> | 125511 | &nbsp;&nbsp; 19547083 |
| **Utilities-5.83%** | **Utilities-5.83%** | **Utilities-5.83%** |
| American Electric Power Co., Inc. | 151118 | &nbsp;&nbsp; 17097490 |
| Duke Energy Corp. | 133619 | &nbsp;&nbsp; 16253415 |
| Exelon Corp. | 354165 | &nbsp;&nbsp; 15916175 |
| Xcel Energy, Inc. | 222781 | &nbsp;&nbsp; 16361037 |
|  |  | &nbsp;&nbsp; 65628117 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks & Other Equity Interests <br>(Cost $990,047,406) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks & Other Equity Interests <br>(Cost $990,047,406) | &nbsp;&nbsp; 1124284728 |
| **Money Market Funds-0.09%** | **Money Market Funds-0.09%** | **Money Market Funds-0.09%** |
| &nbsp;&nbsp;&nbsp; Invesco Government & Agency Portfolio, <br> Institutional Class, 4.25%<sup>(d)(e)</sup> <br>(Cost $1,047,158)<br>| 1047158 | &nbsp;&nbsp; 1047158 |
| &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES <br>(excluding investments purchased with cash collateral <br> from securities on loan)-99.93% <br>(Cost $991,094,564) | &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES <br>(excluding investments purchased with cash collateral <br> from securities on loan)-99.93% <br>(Cost $991,094,564) | &nbsp;&nbsp; 1125331886 |
| **Investments Purchased with Cash Collateral from Securities** <br> **on Loan** | **Investments Purchased with Cash Collateral from Securities** <br> **on Loan** | **Investments Purchased with Cash Collateral from Securities** <br> **on Loan** |
| **Money Market Funds-0.14%** | **Money Market Funds-0.14%** | **Money Market Funds-0.14%** |
| &nbsp;&nbsp;&nbsp; Invesco Private Government Fund, <br> 4.32%<sup>(d)(e)(f)</sup><br>| 434222 | &nbsp;&nbsp; 434222 |
| Invesco Private Prime Fund, 4.46%<sup>(d)(e)(f)</sup> | 1125335 | &nbsp;&nbsp; 1125560 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Investments Purchased with Cash Collateral from <br> Securities on Loan <br>(Cost $1,559,782) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Investments Purchased with Cash Collateral from <br> Securities on Loan <br>(Cost $1,559,782) | &nbsp;&nbsp; 1559782 |
| &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES-100.07% <br>(Cost $992,654,346) | &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES-100.07% <br>(Cost $992,654,346) | &nbsp;&nbsp; 1126891668 |
| OTHER ASSETS LESS LIABILITIES-(0.07)% | OTHER ASSETS LESS LIABILITIES-(0.07)% | &nbsp;&nbsp; (738669)<br>|
| NET ASSETS-100.00% | NET ASSETS-100.00% | &nbsp;&nbsp; $1126152999 |

---

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

------

**Invesco Large Cap Value ETF (PWV)—(continued)**

July 31, 2025

*(Unaudited)*

---

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

---

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

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Value** <br>**April 30, 2025**<br>| **Purchases** <br>**at Cost**<br>| **Proceeds** <br>**from Sales**<br>| **Change in** <br>**Unrealized** <br>**Appreciation**<br>| **Realized** <br>**Gain** <br>**(Loss)**<br>| **Value** <br>**July 31, 2025**<br>| **Dividend Income** |
| **Investments in Affiliated** <br> **Money Market Funds:**<br>|  |  |  |  |  |  |  |
| &nbsp;&nbsp; Invesco Government & Agency <br> Portfolio, Institutional Class<br>| &nbsp;&nbsp;&nbsp; $785842 | &nbsp;&nbsp;&nbsp; $11884187 | &nbsp;&nbsp;&nbsp; $(11622871)<br>| &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $1047158 | &nbsp;&nbsp;&nbsp; $9168 |
| **Investments Purchased with** <br> **Cash Collateral from** <br> **Securities on Loan:**<br>|  |  |  |  |  |  |  |
| &nbsp;&nbsp; Invesco Private Government <br> Fund<br>| &nbsp;&nbsp;&nbsp; 12347453 | &nbsp;&nbsp;&nbsp; 100236882 | &nbsp;&nbsp;&nbsp; (112150113)<br>| &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; 434222 | &nbsp;&nbsp;&nbsp; 59,508<br> \*<br>|
| &nbsp;&nbsp; Invesco Private Prime Fund | &nbsp;&nbsp;&nbsp; 32179394 | &nbsp;&nbsp;&nbsp; 157740371 | &nbsp;&nbsp;&nbsp; (188793369)<br>| &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; (836)<br>| &nbsp;&nbsp;&nbsp; 1125560 | &nbsp;&nbsp;&nbsp; 144,340<br> \*<br>|
| &nbsp;&nbsp; Total | &nbsp;&nbsp;&nbsp; $45312689 | &nbsp;&nbsp;&nbsp; $269861440 | &nbsp;&nbsp;&nbsp; $(312566353)<br>| &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $(836)<br>| &nbsp;&nbsp;&nbsp; $2606940 | &nbsp;&nbsp;&nbsp; $213016 |

---

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

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

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

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

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

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

------

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

**Invesco S&P 100 Equal Weight ETF (EQWL)**

July 31, 2025

*(Unaudited)*

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

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Common Stocks & Other Equity Interests-99.88%** | **Common Stocks & Other Equity Interests-99.88%** | **Common Stocks & Other Equity Interests-99.88%** |
| **Communication Services-8.59%** | **Communication Services-8.59%** | **Communication Services-8.59%** |
| Alphabet, Inc., Class A | 47974 | &nbsp;&nbsp; $9206211 |
| Alphabet, Inc., Class C | 38734 | &nbsp;&nbsp; 7470239 |
| AT&T, Inc. | 545602 | &nbsp;&nbsp; 14954951 |
| Charter Communications, Inc., Class A<sup>(b)</sup> | 38680 | &nbsp;&nbsp; 10418845 |
| Comcast Corp., Class A | 439492 | &nbsp;&nbsp; 14604319 |
| Meta Platforms, Inc., Class A | 22311 | &nbsp;&nbsp; 17256220 |
| Netflix, Inc.<sup>(b)</sup> | 12707 | &nbsp;&nbsp; 14732496 |
| T-Mobile US, Inc. | 66901 | &nbsp;&nbsp; 15949867 |
| Verizon Communications, Inc. | 353492 | &nbsp;&nbsp; 15115318 |
| Walt Disney Co. (The) | 129372 | &nbsp;&nbsp; 15409499 |
|  |  | &nbsp;&nbsp; 135117965 |
| **Consumer Discretionary-9.10%** | **Consumer Discretionary-9.10%** | **Consumer Discretionary-9.10%** |
| Amazon.com, Inc.<sup>(b)</sup> | 72524 | &nbsp;&nbsp; 16978594 |
| Booking Holdings, Inc. | 2837 | &nbsp;&nbsp; 15615018 |
| General Motors Co. | 310024 | &nbsp;&nbsp; 16536680 |
| Home Depot, Inc. (The) | 42904 | &nbsp;&nbsp; 15767649 |
| Lowe's Cos., Inc. | 69723 | &nbsp;&nbsp; 15587971 |
| McDonald's Corp. | 51209 | &nbsp;&nbsp; 15366285 |
| NIKE, Inc., Class B | 244983 | &nbsp;&nbsp; 18297780 |
| Starbucks Corp. | 162101 | &nbsp;&nbsp; 14452925 |
| Tesla, Inc.<sup>(b)</sup> | 47370 | &nbsp;&nbsp; 14602750 |
|  |  | &nbsp;&nbsp; 143205652 |
| **Consumer Staples-9.56%** | **Consumer Staples-9.56%** | **Consumer Staples-9.56%** |
| Altria Group, Inc. | 258115 | &nbsp;&nbsp; 15987643 |
| Coca-Cola Co. (The) | 214562 | &nbsp;&nbsp; 14566614 |
| Colgate-Palmolive Co. | 167874 | &nbsp;&nbsp; 14076235 |
| Costco Wholesale Corp. | 15511 | &nbsp;&nbsp; 14574756 |
| Mondelez International, Inc., Class A<sup>(c)</sup> | 230959 | &nbsp;&nbsp; 14940738 |
| PepsiCo, Inc. | 119031 | &nbsp;&nbsp; 16416756 |
| Philip Morris International, Inc. | 84268 | &nbsp;&nbsp; 13824165 |
| Procter & Gamble Co. (The) | 95341 | &nbsp;&nbsp; 14345960 |
| Target Corp. | 157607 | &nbsp;&nbsp; 15839504 |
| Walmart, Inc. | 161360 | &nbsp;&nbsp; 15810053 |
|  |  | &nbsp;&nbsp; 150382424 |
| **Energy-3.04%** | **Energy-3.04%** | **Energy-3.04%** |
| Chevron Corp. | 106751 | &nbsp;&nbsp; 16187722 |
| ConocoPhillips | 165594 | &nbsp;&nbsp; 15787732 |
| Exxon Mobil Corp. | 141446 | &nbsp;&nbsp; 15791031 |
|  |  | &nbsp;&nbsp; 47766485 |
| **Financials-18.44%** | **Financials-18.44%** | **Financials-18.44%** |
| American Express Co. | 51689 | &nbsp;&nbsp; 15471034 |
| American International Group, Inc. | 183200 | &nbsp;&nbsp; 14221816 |
| Bank of America Corp. | 345673 | &nbsp;&nbsp; 16339963 |
| Bank of New York Mellon Corp. (The) | 172633 | &nbsp;&nbsp; 17513618 |
| Berkshire Hathaway, Inc., Class B<sup>(b)</sup> | 31670 | &nbsp;&nbsp; 14944440 |
| BlackRock, Inc. | 15561 | &nbsp;&nbsp; 17210622 |
| Capital One Financial Corp. | 77124 | &nbsp;&nbsp; 16581660 |
| Charles Schwab Corp. (The) | 174914 | &nbsp;&nbsp; 17094345 |
| Citigroup, Inc. | 197205 | &nbsp;&nbsp; 18478108 |
| Goldman Sachs Group, Inc. (The) | 24744 | &nbsp;&nbsp; 17904511 |
| JPMorgan Chase & Co. | 57654 | &nbsp;&nbsp; 17079421 |
| Mastercard, Inc., Class A | 26153 | &nbsp;&nbsp; 14814890 |
| MetLife, Inc. | 195953 | &nbsp;&nbsp; 14882630 |
| Morgan Stanley | 117321 | &nbsp;&nbsp; 16713550 |
| PayPal Holdings, Inc.<sup>(b)</sup> | 207199 | &nbsp;&nbsp; 14247003 |
| U.S. Bancorp | 349776 | &nbsp;&nbsp; 15725929 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Financials-(continued)** | **Financials-(continued)** | **Financials-(continued)** |
| Visa, Inc., Class A | 41380 | &nbsp;&nbsp; $14295549 |
| Wells Fargo & Co. | 206353 | &nbsp;&nbsp; 16638242 |
|  |  | &nbsp;&nbsp; 290157331 |
| **Health Care-14.25%** | **Health Care-14.25%** | **Health Care-14.25%** |
| Abbott Laboratories | 114186 | &nbsp;&nbsp; 14409131 |
| AbbVie, Inc. | 80716 | &nbsp;&nbsp; 15256938 |
| Amgen, Inc. | 52993 | &nbsp;&nbsp; 15638234 |
| Bristol-Myers Squibb Co. | 307884 | &nbsp;&nbsp; 13334456 |
| CVS Health Corp. | 235282 | &nbsp;&nbsp; 14611012 |
| Danaher Corp. | 75468 | &nbsp;&nbsp; 14879271 |
| Eli Lilly and Co. | 19091 | &nbsp;&nbsp; 14128676 |
| Gilead Sciences, Inc. | 141458 | &nbsp;&nbsp; 15884319 |
| Intuitive Surgical, Inc.<sup>(b)</sup> | 29596 | &nbsp;&nbsp; 14238340 |
| Johnson & Johnson | 99551 | &nbsp;&nbsp; 16400032 |
| Medtronic PLC | 175552 | &nbsp;&nbsp; 15841813 |
| Merck & Co., Inc. | 192485 | &nbsp;&nbsp; 15036928 |
| Pfizer, Inc. | 631578 | &nbsp;&nbsp; 14709452 |
| Thermo Fisher Scientific, Inc. | 37248 | &nbsp;&nbsp; 17420145 |
| UnitedHealth Group, Inc. | 49754 | &nbsp;&nbsp; 12416608 |
|  |  | &nbsp;&nbsp; 224205355 |
| **Industrials-13.26%** | **Industrials-13.26%** | **Industrials-13.26%** |
| 3M Co. | 105028 | &nbsp;&nbsp; 15672278 |
| Boeing Co. (The)<sup>(b)</sup> | 72217 | &nbsp;&nbsp; 16020619 |
| Caterpillar, Inc. | 42556 | &nbsp;&nbsp; 18640379 |
| Deere & Co. | 29711 | &nbsp;&nbsp; 15579557 |
| Emerson Electric Co. | 122208 | &nbsp;&nbsp; 17782486 |
| FedEx Corp. | 69013 | &nbsp;&nbsp; 15423715 |
| General Dynamics Corp. | 56044 | &nbsp;&nbsp; 17463871 |
| General Electric Co. | 62939 | &nbsp;&nbsp; 17061504 |
| Honeywell International, Inc. | 68411 | &nbsp;&nbsp; 15211186 |
| Lockheed Martin Corp. | 33859 | &nbsp;&nbsp; 14253962 |
| RTX Corp. | 109038 | &nbsp;&nbsp; 17181118 |
| Union Pacific Corp. | 68440 | &nbsp;&nbsp; 15191627 |
| United Parcel Service, Inc., Class B | 152799 | &nbsp;&nbsp; 13165162 |
|  |  | &nbsp;&nbsp; 208647464 |
| **Information Technology-17.70%** | **Information Technology-17.70%** | **Information Technology-17.70%** |
| Accenture PLC, Class A (Ireland) | 48399 | &nbsp;&nbsp; 12927373 |
| Adobe, Inc.<sup>(b)</sup> | 37449 | &nbsp;&nbsp; 13395133 |
| Advanced Micro Devices, Inc.<sup>(b)(c)</sup> | 127620 | &nbsp;&nbsp; 22500682 |
| Apple, Inc. | 77760 | &nbsp;&nbsp; 16140643 |
| Broadcom, Inc. | 61101 | &nbsp;&nbsp; 17945364 |
| Cisco Systems, Inc. | 240877 | &nbsp;&nbsp; 16398906 |
| Intel Corp. | 747528 | &nbsp;&nbsp; 14801054 |
| International Business Machines Corp. | 54859 | &nbsp;&nbsp; 13887556 |
| Intuit, Inc. | 20190 | &nbsp;&nbsp; 15851775 |
| Microsoft Corp. | 32718 | &nbsp;&nbsp; 17455053 |
| NVIDIA Corp. | 108223 | &nbsp;&nbsp; 19249625 |
| Oracle Corp. | 87651 | &nbsp;&nbsp; 22243194 |
| Palantir Technologies, Inc., Class A<sup>(b)</sup> | 113367 | &nbsp;&nbsp; 17951664 |
| QUALCOMM, Inc. | 96956 | &nbsp;&nbsp; 14229263 |
| Salesforce, Inc. | 58154 | &nbsp;&nbsp; 15022923 |
| ServiceNow, Inc.<sup>(b)</sup> | 15402 | &nbsp;&nbsp; 14525934 |
| Texas Instruments, Inc. | 77426 | &nbsp;&nbsp; 14018752 |
|  |  | &nbsp;&nbsp; 278544894 |
| **Materials-0.96%** | **Materials-0.96%** | **Materials-0.96%** |
| Linde PLC | 33001 | &nbsp;&nbsp; 15189040 |

---

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

------

**Invesco S&P 100 Equal Weight ETF (EQWL)—(continued)**

July 31, 2025

*(Unaudited)*

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Real Estate-1.96%** | **Real Estate-1.96%** | **Real Estate-1.96%** |
| American Tower Corp. | 72105 | &nbsp;&nbsp; $15025961 |
| Simon Property Group, Inc. | 96774 | &nbsp;&nbsp; 15850613 |
|  |  | &nbsp;&nbsp; 30876574 |
| **Utilities-3.02%** | **Utilities-3.02%** | **Utilities-3.02%** |
| Duke Energy Corp. | 132889 | &nbsp;&nbsp; 16164618 |
| NextEra Energy, Inc. | 211804 | &nbsp;&nbsp; 15050792 |
| Southern Co. (The) | 172629 | &nbsp;&nbsp; 16309988 |
|  |  | &nbsp;&nbsp; 47525398 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks & Other Equity Interests <br>(Cost $1,426,263,184) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks & Other Equity Interests <br>(Cost $1,426,263,184) | &nbsp;&nbsp; 1571618582 |
| **Money Market Funds-0.03%** | **Money Market Funds-0.03%** | **Money Market Funds-0.03%** |
| &nbsp;&nbsp;&nbsp; Invesco Government & Agency Portfolio, <br> Institutional Class, 4.25%<sup>(d)(e)</sup> <br>(Cost $463,644)<br>| 463644 | &nbsp;&nbsp; 463644 |
| &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES <br>(excluding investments purchased with cash collateral <br> from securities on loan)-99.91% <br>(Cost $1,426,726,828) | &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES <br>(excluding investments purchased with cash collateral <br> from securities on loan)-99.91% <br>(Cost $1,426,726,828) | &nbsp;&nbsp; 1572082226 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Investments Purchased with Cash Collateral from Securities** <br> **on Loan** | **Investments Purchased with Cash Collateral from Securities** <br> **on Loan** | **Investments Purchased with Cash Collateral from Securities** <br> **on Loan** |
| **Money Market Funds-0.67%** | **Money Market Funds-0.67%** | **Money Market Funds-0.67%** |
| &nbsp;&nbsp;&nbsp; Invesco Private Government Fund, <br> 4.32%<sup>(d)(e)(f)</sup><br>| 2874181 | &nbsp;&nbsp; $2874181 |
| Invesco Private Prime Fund, 4.46%<sup>(d)(e)(f)</sup> | 7620966 | &nbsp;&nbsp; 7622490 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Investments Purchased with Cash Collateral from <br> Securities on Loan <br>(Cost $10,496,671) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Investments Purchased with Cash Collateral from <br> Securities on Loan <br>(Cost $10,496,671) | &nbsp;&nbsp; 10496671 |
| &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES-100.58% <br>(Cost $1,437,223,499) | &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES-100.58% <br>(Cost $1,437,223,499) | &nbsp;&nbsp; 1582578897 |
| OTHER ASSETS LESS LIABILITIES-(0.58)% | OTHER ASSETS LESS LIABILITIES-(0.58)% | &nbsp;&nbsp; (9070689)<br>|
| NET ASSETS-100.00% | NET ASSETS-100.00% | &nbsp;&nbsp; $1573508208 |

---

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

---

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

---

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

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Value** <br>**April 30, 2025**<br>| **Purchases** <br>**at Cost**<br>| **Proceeds** <br>**from Sales**<br>| **Change in** <br>**Unrealized** <br>**Appreciation**<br>| **Realized** <br>**Gain**<br>| **Value** <br>**July 31, 2025**<br>| **Dividend Income** |
| **Investments in Affiliated** <br> **Money Market Funds:**<br>|  |  |  |  |  |  |  |
| &nbsp;&nbsp; Invesco Government & Agency <br> Portfolio, Institutional Class<br>| &nbsp;&nbsp;&nbsp; $660360 | &nbsp;&nbsp;&nbsp; $9242651 | &nbsp;&nbsp;&nbsp; $(9439367)<br>| &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $463644 | &nbsp;&nbsp;&nbsp; $11329 |
| **Investments Purchased with** <br> **Cash Collateral from** <br> **Securities on Loan:**<br>|  |  |  |  |  |  |  |
| &nbsp;&nbsp; Invesco Private Government <br> Fund<br>| &nbsp;&nbsp;&nbsp; 9777174 | &nbsp;&nbsp;&nbsp; 105977634 | &nbsp;&nbsp;&nbsp; (112880627)<br>| &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; 2874181 | &nbsp;&nbsp;&nbsp; 53,754<br> \*<br>|
| &nbsp;&nbsp; Invesco Private Prime Fund | &nbsp;&nbsp;&nbsp; 25442638 | &nbsp;&nbsp;&nbsp; 249794855 | &nbsp;&nbsp;&nbsp; (267615359)<br>| &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; 356 | &nbsp;&nbsp;&nbsp; 7622490 | &nbsp;&nbsp;&nbsp; 150,232<br> \*<br>|
| &nbsp;&nbsp; Total | &nbsp;&nbsp;&nbsp; $35880172 | &nbsp;&nbsp;&nbsp; $365015140 | &nbsp;&nbsp;&nbsp; $(389935353)<br>| &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $356 | &nbsp;&nbsp;&nbsp; $10960315 | &nbsp;&nbsp;&nbsp; $215315 |

---

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

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

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

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

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

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

------

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

**Invesco S&P 500 GARP ETF (SPGP)**

July 31, 2025

*(Unaudited)*

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

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Common Stocks & Other Equity Interests-99.98%** | **Common Stocks & Other Equity Interests-99.98%** | **Common Stocks & Other Equity Interests-99.98%** |
| **Communication Services-3.32%** | **Communication Services-3.32%** | **Communication Services-3.32%** |
| Alphabet, Inc., Class C | 156698 | &nbsp;&nbsp; $30220776 |
| Meta Platforms, Inc., Class A | 45838 | &nbsp;&nbsp; 35452943 |
| Netflix, Inc.<sup>(b)</sup> | 21782 | &nbsp;&nbsp; 25254051 |
|  |  | &nbsp;&nbsp; 90927770 |
| **Consumer Discretionary-20.71%** | **Consumer Discretionary-20.71%** | **Consumer Discretionary-20.71%** |
| Airbnb, Inc., Class A<sup>(b)</sup> | 397670 | &nbsp;&nbsp; 52655485 |
| Aptiv PLC (Jersey)<sup>(b)</sup> | 477903 | &nbsp;&nbsp; 32803262 |
| Chipotle Mexican Grill, Inc.<sup>(b)(c)</sup> | 674283 | &nbsp;&nbsp; 28913255 |
| D.R. Horton, Inc. | 210762 | &nbsp;&nbsp; 30105244 |
| Darden Restaurants, Inc. | 167228 | &nbsp;&nbsp; 33724871 |
| Deckers Outdoor Corp.<sup>(b)</sup> | 361745 | &nbsp;&nbsp; 38406466 |
| Expedia Group, Inc. | 317890 | &nbsp;&nbsp; 57290136 |
| General Motors Co. | 716399 | &nbsp;&nbsp; 38212723 |
| Lennar Corp., Class A<sup>(c)</sup> | 224453 | &nbsp;&nbsp; 25179137 |
| lululemon athletica, inc.<sup>(b)</sup> | 153024 | &nbsp;&nbsp; 30685903 |
| NVR, Inc.<sup>(b)</sup> | 3634 | &nbsp;&nbsp; 27434847 |
| PulteGroup, Inc. | 339349 | &nbsp;&nbsp; 38319289 |
| Royal Caribbean Cruises Ltd.<sup>(c)</sup> | 213508 | &nbsp;&nbsp; 67867788 |
| Tapestry, Inc. | 300770 | &nbsp;&nbsp; 32492183 |
| Ulta Beauty, Inc.<sup>(b)</sup> | 63211 | &nbsp;&nbsp; 32554297 |
|  |  | &nbsp;&nbsp; 566644886 |
| **Consumer Staples-2.44%** | **Consumer Staples-2.44%** | **Consumer Staples-2.44%** |
| Monster Beverage Corp.<sup>(b)</sup> | 396352 | &nbsp;&nbsp; 23285680 |
| Sysco Corp. | 545016 | &nbsp;&nbsp; 43383274 |
|  |  | &nbsp;&nbsp; 66668954 |
| **Energy-5.89%** | **Energy-5.89%** | **Energy-5.89%** |
| Baker Hughes Co., Class A | 926055 | &nbsp;&nbsp; 41718778 |
| Halliburton Co. | 1395048 | &nbsp;&nbsp; 31249075 |
| Phillips 66 | 213972 | &nbsp;&nbsp; 26442660 |
| Schlumberger N.V. | 983576 | &nbsp;&nbsp; 33244869 |
| Texas Pacific Land Corp.<sup>(c)</sup> | 29509 | &nbsp;&nbsp; 28568548 |
|  |  | &nbsp;&nbsp; 161223930 |
| **Financials-15.52%** | **Financials-15.52%** | **Financials-15.52%** |
| Allstate Corp. (The)<sup>(c)</sup> | 179368 | &nbsp;&nbsp; 36456546 |
| American Express Co. | 98739 | &nbsp;&nbsp; 29553570 |
| Ameriprise Financial, Inc. | 55061 | &nbsp;&nbsp; 28532060 |
| Arch Capital Group Ltd.<sup>(c)</sup> | 495874 | &nbsp;&nbsp; 42674916 |
| Chubb Ltd. | 94936 | &nbsp;&nbsp; 25256773 |
| Erie Indemnity Co., Class A<sup>(c)</sup> | 85029 | &nbsp;&nbsp; 30290731 |
| Global Payments, Inc. | 344948 | &nbsp;&nbsp; 27578593 |
| Hartford Insurance Group, Inc. (The) | 217672 | &nbsp;&nbsp; 27076220 |
| Mastercard, Inc., Class A | 55356 | &nbsp;&nbsp; 31357513 |
| PayPal Holdings, Inc.<sup>(b)</sup> | 332921 | &nbsp;&nbsp; 22891648 |
| Progressive Corp. (The) | 138262 | &nbsp;&nbsp; 33464934 |
| Travelers Cos., Inc. (The) | 106339 | &nbsp;&nbsp; 27673661 |
| Visa, Inc., Class A | 94067 | &nbsp;&nbsp; 32497327 |
| W.R. Berkley Corp. | 425733 | &nbsp;&nbsp; 29294688 |
|  |  | &nbsp;&nbsp; 424599180 |
| **Health Care-5.49%** | **Health Care-5.49%** | **Health Care-5.49%** |
| Centene Corp.<sup>(b)</sup> | 581316 | &nbsp;&nbsp; 15154908 |
| Cigna Group (The) | 94226 | &nbsp;&nbsp; 25194148 |
| Eli Lilly and Co. | 42148 | &nbsp;&nbsp; 31192470 |
| Molina Healthcare, Inc.<sup>(b)</sup> | 101457 | &nbsp;&nbsp; 16017017 |
| ResMed, Inc.<sup>(c)</sup> | 123863 | &nbsp;&nbsp; 33683304 |
| Universal Health Services, Inc., Class B | 174596 | &nbsp;&nbsp; 29061504 |
|  |  | &nbsp;&nbsp; 150303351 |
| **Industrials-21.41%** | **Industrials-21.41%** | **Industrials-21.41%** |
| Caterpillar, Inc. | 79892 | &nbsp;&nbsp; 34994294 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Industrials-(continued)** | **Industrials-(continued)** | **Industrials-(continued)** |
| Cintas Corp. | 117386 | &nbsp;&nbsp; $26124254 |
| Copart, Inc.<sup>(b)</sup> | 595584 | &nbsp;&nbsp; 26997823 |
| Cummins, Inc. | 96409 | &nbsp;&nbsp; 35441877 |
| Delta Air Lines, Inc. | 1227449 | &nbsp;&nbsp; 65312561 |
| Hubbell, Inc.<sup>(c)</sup> | 71394 | &nbsp;&nbsp; 31233447 |
| Lennox International, Inc.<sup>(c)</sup> | 47575 | &nbsp;&nbsp; 28973175 |
| PACCAR, Inc. | 327395 | &nbsp;&nbsp; 32333530 |
| Parker-Hannifin Corp. | 40251 | &nbsp;&nbsp; 29459707 |
| Paycom Software, Inc.<sup>(c)</sup> | 171726 | &nbsp;&nbsp; 39761438 |
| Trane Technologies PLC | 73106 | &nbsp;&nbsp; 32026276 |
| Uber Technologies, Inc.<sup>(b)</sup> | 753168 | &nbsp;&nbsp; 66090492 |
| United Airlines Holdings, Inc.<sup>(b)</sup> | 712174 | &nbsp;&nbsp; 62892086 |
| United Rentals, Inc. | 52441 | &nbsp;&nbsp; 46302257 |
| W.W. Grainger, Inc. | 26703 | &nbsp;&nbsp; 27758837 |
|  |  | &nbsp;&nbsp; 585702054 |
| **Information Technology-21.07%** | **Information Technology-21.07%** | **Information Technology-21.07%** |
| Adobe, Inc.<sup>(b)</sup> | 63529 | &nbsp;&nbsp; 22723688 |
| Arista Networks, Inc.<sup>(b)</sup> | 599244 | &nbsp;&nbsp; 73838846 |
| Autodesk, Inc.<sup>(b)</sup> | 105524 | &nbsp;&nbsp; 31985379 |
| First Solar, Inc.<sup>(b)(c)</sup> | 197879 | &nbsp;&nbsp; 34575398 |
| Fortinet, Inc.<sup>(b)</sup> | 455654 | &nbsp;&nbsp; 45519834 |
| Gartner, Inc.<sup>(b)</sup> | 70295 | &nbsp;&nbsp; 23805402 |
| KLA Corp. | 36950 | &nbsp;&nbsp; 32480158 |
| Microsoft Corp. | 60156 | &nbsp;&nbsp; 32093226 |
| Monolithic Power Systems, Inc. | 73453 | &nbsp;&nbsp; 52242712 |
| NVIDIA Corp. | 491151 | &nbsp;&nbsp; 87361028 |
| Super Micro Computer, Inc.<sup>(b)(c)</sup> | 1623307 | &nbsp;&nbsp; 95726414 |
| Synopsys, Inc.<sup>(b)</sup> | 69793 | &nbsp;&nbsp; 44211772 |
|  |  | &nbsp;&nbsp; 576563857 |
| **Materials-1.08%** | **Materials-1.08%** | **Materials-1.08%** |
| Martin Marietta Materials, Inc. | 51172 | &nbsp;&nbsp; 29417759 |
| **Real Estate-3.05%** | **Real Estate-3.05%** | **Real Estate-3.05%** |
| Host Hotels & Resorts, Inc. | 3675777 | &nbsp;&nbsp; 57783214 |
| VICI Properties, Inc. | 782718 | &nbsp;&nbsp; 25516607 |
|  |  | &nbsp;&nbsp; 83299821 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks & Other Equity Interests <br>(Cost $2,562,470,199) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks & Other Equity Interests <br>(Cost $2,562,470,199) | &nbsp;&nbsp; 2735351562 |
| **Money Market Funds-0.06%** | **Money Market Funds-0.06%** | **Money Market Funds-0.06%** |
| &nbsp;&nbsp;&nbsp; Invesco Government & Agency Portfolio, <br> Institutional Class, 4.25%<sup>(d)(e)</sup> <br>(Cost $1,616,361)<br>| 1616361 | &nbsp;&nbsp; 1616361 |
| &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES <br>(excluding investments purchased with cash collateral <br> from securities on loan)-100.04% <br>(Cost $2,564,086,560) | &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES <br>(excluding investments purchased with cash collateral <br> from securities on loan)-100.04% <br>(Cost $2,564,086,560) | &nbsp;&nbsp; 2736967923 |
| **Investments Purchased with Cash Collateral from Securities** <br> **on Loan** | **Investments Purchased with Cash Collateral from Securities** <br> **on Loan** | **Investments Purchased with Cash Collateral from Securities** <br> **on Loan** |
| **Money Market Funds-4.47%** | **Money Market Funds-4.47%** | **Money Market Funds-4.47%** |
| &nbsp;&nbsp;&nbsp; Invesco Private Government Fund, <br> 4.32%<sup>(d)(e)(f)</sup><br>| 33990903 | &nbsp;&nbsp; 33990903 |

---

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

------

**Invesco S&P 500 GARP ETF (SPGP)—(continued)**

July 31, 2025

*(Unaudited)*

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Money Market Funds-(continued)** | **Money Market Funds-(continued)** | **Money Market Funds-(continued)** |
| Invesco Private Prime Fund, 4.46%<sup>(d)(e)(f)</sup> | 88295137 | &nbsp;&nbsp; $88312796 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Investments Purchased with Cash Collateral from <br> Securities on Loan <br>(Cost $122,303,699) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Investments Purchased with Cash Collateral from <br> Securities on Loan <br>(Cost $122,303,699) | &nbsp;&nbsp; 122303699 |
| &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES-104.51% <br>(Cost $2,686,390,259) | &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES-104.51% <br>(Cost $2,686,390,259) | &nbsp;&nbsp; 2859271622 |
| OTHER ASSETS LESS LIABILITIES-(4.51)% | OTHER ASSETS LESS LIABILITIES-(4.51)% | &nbsp;&nbsp; (123397558)<br>|
| NET ASSETS-100.00% | NET ASSETS-100.00% | &nbsp;&nbsp; $2735874064 |

---

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

---

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

---

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

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Value** <br>**April 30, 2025**<br>| **Purchases** <br>**at Cost**<br>| **Proceeds** <br>**from Sales**<br>| **Change in** <br>**Unrealized** <br>**Appreciation**<br>| **Realized** <br>**Gain** <br>**(Loss)**<br>| **Value** <br>**July 31, 2025**<br>| **Dividend Income** |
| **Investments in Affiliated** <br> **Money Market Funds:**<br>|  |  |  |  |  |  |  |
| &nbsp;&nbsp; Invesco Government & Agency <br> Portfolio, Institutional Class<br>| &nbsp;&nbsp;&nbsp; $371281 | &nbsp;&nbsp;&nbsp; $12046489 | &nbsp;&nbsp;&nbsp; $(10801409)<br>| &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $1616361 | &nbsp;&nbsp;&nbsp; $24427 |
| **Investments Purchased with** <br> **Cash Collateral from** <br> **Securities on Loan:**<br>|  |  |  |  |  |  |  |
| &nbsp;&nbsp; Invesco Private Government <br> Fund<br>| &nbsp;&nbsp;&nbsp; 26556829 | &nbsp;&nbsp;&nbsp; 176856736 | &nbsp;&nbsp;&nbsp; (169422662)<br>| &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; 33990903 | &nbsp;&nbsp;&nbsp; 369,653<br> \*<br>|
| &nbsp;&nbsp; Invesco Private Prime Fund | &nbsp;&nbsp;&nbsp; 69169970 | &nbsp;&nbsp;&nbsp; 502882644 | &nbsp;&nbsp;&nbsp; (483739606)<br>| &nbsp;&nbsp;&nbsp; 2995 | &nbsp;&nbsp;&nbsp; (3207)<br>| &nbsp;&nbsp;&nbsp; 88312796 | &nbsp;&nbsp;&nbsp; 991,091<br> \*<br>|
| &nbsp;&nbsp; Total | &nbsp;&nbsp;&nbsp; $96098080 | &nbsp;&nbsp;&nbsp; $691785869 | &nbsp;&nbsp;&nbsp; $(663963677)<br>| &nbsp;&nbsp;&nbsp; $2995 | &nbsp;&nbsp;&nbsp; $(3207)<br>| &nbsp;&nbsp;&nbsp; $123920060 | &nbsp;&nbsp;&nbsp; $1385171 |

---

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

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

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

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

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

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

------

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

**Invesco S&P 500 Value with Momentum ETF (SPVM)**

July 31, 2025

*(Unaudited)*

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

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Common Stocks & Other Equity Interests-99.96%** | **Common Stocks & Other Equity Interests-99.96%** | **Common Stocks & Other Equity Interests-99.96%** |
| **Communication Services-6.70%** | **Communication Services-6.70%** | **Communication Services-6.70%** |
| AT&T, Inc. | 18291 | &nbsp;&nbsp; $501356 |
| Charter Communications, Inc., Class A<sup>(b)</sup> | 1558 | &nbsp;&nbsp; 419663 |
| Fox Corp., Class A | 10271 | &nbsp;&nbsp; 572711 |
| News Corp., Class A | 14547 | &nbsp;&nbsp; 426518 |
| Paramount Global, Class B<sup>(c)</sup> | 69505 | &nbsp;&nbsp; 873678 |
| Verizon Communications, Inc. | 16049 | &nbsp;&nbsp; 686255 |
| Warner Bros. Discovery, Inc.<sup>(b)</sup> | 56110 | &nbsp;&nbsp; 738969 |
|  |  | &nbsp;&nbsp; 4219150 |
| **Consumer Discretionary-8.08%** | **Consumer Discretionary-8.08%** | **Consumer Discretionary-8.08%** |
| Best Buy Co., Inc. | 11749 | &nbsp;&nbsp; 764390 |
| Carnival Corp.<sup>(b)</sup> | 21084 | &nbsp;&nbsp; 627671 |
| General Motors Co. | 29683 | &nbsp;&nbsp; 1583291 |
| Mohawk Industries, Inc.<sup>(b)</sup> | 10194 | &nbsp;&nbsp; 1167315 |
| PulteGroup, Inc. | 8332 | &nbsp;&nbsp; 940849 |
|  |  | &nbsp;&nbsp; 5083516 |
| **Consumer Staples-5.64%** | **Consumer Staples-5.64%** | **Consumer Staples-5.64%** |
| Altria Group, Inc. | 6185 | &nbsp;&nbsp; 383099 |
| Keurig Dr Pepper, Inc. | 11160 | &nbsp;&nbsp; 364374 |
| Kroger Co. (The) | 12462 | &nbsp;&nbsp; 873586 |
| Molson Coors Beverage Co., Class B<sup>(c)</sup> | 19508 | &nbsp;&nbsp; 950430 |
| Tyson Foods, Inc., Class A | 18666 | &nbsp;&nbsp; 976232 |
|  |  | &nbsp;&nbsp; 3547721 |
| **Energy-2.46%** | **Energy-2.46%** | **Energy-2.46%** |
| Baker Hughes Co., Class A | 15576 | &nbsp;&nbsp; 701699 |
| Kinder Morgan, Inc. | 13305 | &nbsp;&nbsp; 373338 |
| ONEOK, Inc. | 5780 | &nbsp;&nbsp; 474596 |
|  |  | &nbsp;&nbsp; 1549633 |
| **Financials-37.01%** | **Financials-37.01%** | **Financials-37.01%** |
| Aflac, Inc. | 4444 | &nbsp;&nbsp; 441556 |
| Allstate Corp. (The) | 3095 | &nbsp;&nbsp; 629059 |
| Assurant, Inc. | 3236 | &nbsp;&nbsp; 606103 |
| Bank of America Corp. | 14610 | &nbsp;&nbsp; 690615 |
| Bank of New York Mellon Corp. (The) | 5928 | &nbsp;&nbsp; 601396 |
| Berkshire Hathaway, Inc., Class B<sup>(b)</sup> | 1160 | &nbsp;&nbsp; 547381 |
| Chubb Ltd. | 1925 | &nbsp;&nbsp; 512127 |
| Cincinnati Financial Corp. | 3585 | &nbsp;&nbsp; 528823 |
| Citigroup, Inc. | 11126 | &nbsp;&nbsp; 1042506 |
| Citizens Financial Group, Inc. | 19993 | &nbsp;&nbsp; 954066 |
| Fifth Third Bancorp | 16348 | &nbsp;&nbsp; 679586 |
| Globe Life, Inc. | 5740 | &nbsp;&nbsp; 806298 |
| Goldman Sachs Group, Inc. (The) | 876 | &nbsp;&nbsp; 633865 |
| Hartford Insurance Group, Inc. (The) | 4700 | &nbsp;&nbsp; 584633 |
| Huntington Bancshares, Inc. | 42415 | &nbsp;&nbsp; 696878 |
| Invesco Ltd.<sup>(d)</sup> | 63766 | &nbsp;&nbsp; 1339724 |
| JPMorgan Chase & Co. | 1840 | &nbsp;&nbsp; 545082 |
| Loews Corp. | 8815 | &nbsp;&nbsp; 798110 |
| M&T Bank Corp. | 3839 | &nbsp;&nbsp; 724419 |
| MetLife, Inc. | 9374 | &nbsp;&nbsp; 711955 |
| Morgan Stanley | 3591 | &nbsp;&nbsp; 511574 |
| Northern Trust Corp. | 6222 | &nbsp;&nbsp; 808860 |
| PNC Financial Services Group, Inc. (The) | 3617 | &nbsp;&nbsp; 688206 |
| Prudential Financial, Inc. | 8095 | &nbsp;&nbsp; 838480 |
| Raymond James Financial, Inc. | 3307 | &nbsp;&nbsp; 552699 |
| Regions Financial Corp. | 34454 | &nbsp;&nbsp; 872720 |
| State Street Corp. | 7784 | &nbsp;&nbsp; 869862 |
| Synchrony Financial | 12883 | &nbsp;&nbsp; 897559 |
| Travelers Cos., Inc. (The) | 2113 | &nbsp;&nbsp; 549887 |
| Truist Financial Corp. | 20202 | &nbsp;&nbsp; 883029 |
| U.S. Bancorp | 16324 | &nbsp;&nbsp; 733927 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Financials-(continued)** | **Financials-(continued)** | **Financials-(continued)** |
| W.R. Berkley Corp. | 5553 | &nbsp;&nbsp; $382102 |
| Wells Fargo & Co. | 7826 | &nbsp;&nbsp; 631010 |
|  |  | &nbsp;&nbsp; 23294097 |
| **Health Care-6.22%** | **Health Care-6.22%** | **Health Care-6.22%** |
| Cardinal Health, Inc. | 4302 | &nbsp;&nbsp; 667756 |
| Cencora, Inc. | 2235 | &nbsp;&nbsp; 639389 |
| DaVita, Inc.<sup>(b)(c)</sup> | 3312 | &nbsp;&nbsp; 464905 |
| Labcorp Holdings, Inc. | 1447 | &nbsp;&nbsp; 376336 |
| McKesson Corp. | 898 | &nbsp;&nbsp; 622799 |
| Quest Diagnostics, Inc. | 2171 | &nbsp;&nbsp; 363447 |
| Universal Health Services, Inc., Class B | 4664 | &nbsp;&nbsp; 776323 |
|  |  | &nbsp;&nbsp; 3910955 |
| **Industrials-6.56%** | **Industrials-6.56%** | **Industrials-6.56%** |
| C.H. Robinson Worldwide, Inc. | 5035 | &nbsp;&nbsp; 580636 |
| Cummins, Inc. | 1392 | &nbsp;&nbsp; 511727 |
| General Dynamics Corp. | 1468 | &nbsp;&nbsp; 457444 |
| Leidos Holdings, Inc. | 3257 | &nbsp;&nbsp; 519980 |
| Snap-on, Inc. | 1194 | &nbsp;&nbsp; 383501 |
| Southwest Airlines Co.<sup>(c)</sup> | 15709 | &nbsp;&nbsp; 485879 |
| United Airlines Holdings, Inc.<sup>(b)</sup> | 13452 | &nbsp;&nbsp; 1187946 |
|  |  | &nbsp;&nbsp; 4127113 |
| **Information Technology-4.86%** | **Information Technology-4.86%** | **Information Technology-4.86%** |
| Cognizant Technology Solutions Corp., Class A | 5405 | &nbsp;&nbsp; 387863 |
| Hewlett Packard Enterprise Co. | 63559 | &nbsp;&nbsp; 1315036 |
| HP, Inc. | 32862 | &nbsp;&nbsp; 814977 |
| Trimble, Inc.<sup>(b)(c)</sup> | 6454 | &nbsp;&nbsp; 541426 |
|  |  | &nbsp;&nbsp; 3059302 |
| **Materials-4.69%** | **Materials-4.69%** | **Materials-4.69%** |
| Amcor PLC | 56084 | &nbsp;&nbsp; 524385 |
| International Paper Co. | 11725 | &nbsp;&nbsp; 548027 |
| Newmont Corp.<sup>(c)</sup> | 10743 | &nbsp;&nbsp; 667140 |
| Smurfit WestRock PLC | 14686 | &nbsp;&nbsp; 651765 |
| Steel Dynamics, Inc. | 4396 | &nbsp;&nbsp; 560754 |
|  |  | &nbsp;&nbsp; 2952071 |
| **Real Estate-2.79%** | **Real Estate-2.79%** | **Real Estate-2.79%** |
| Healthpeak Properties, Inc.<sup>(c)</sup> | 20756 | &nbsp;&nbsp; 351607 |
| Kimco Realty Corp. | 20206 | &nbsp;&nbsp; 428973 |
| Realty Income Corp., REIT | 6302 | &nbsp;&nbsp; 353731 |
| VICI Properties, Inc.<sup>(c)</sup> | 19106 | &nbsp;&nbsp; 622856 |
|  |  | &nbsp;&nbsp; 1757167 |
| **Utilities-14.95%** | **Utilities-14.95%** | **Utilities-14.95%** |
| Alliant Energy Corp. | 6041 | &nbsp;&nbsp; 392726 |
| Ameren Corp. | 4024 | &nbsp;&nbsp; 406947 |
| American Electric Power Co., Inc. | 4177 | &nbsp;&nbsp; 472586 |
| Atmos Energy Corp.<sup>(c)</sup> | 2589 | &nbsp;&nbsp; 403677 |
| CenterPoint Energy, Inc.<sup>(c)</sup> | 10185 | &nbsp;&nbsp; 395382 |
| CMS Energy Corp. | 5342 | &nbsp;&nbsp; 394240 |
| Consolidated Edison, Inc. | 4910 | &nbsp;&nbsp; 508185 |
| Dominion Energy, Inc.<sup>(c)</sup> | 7655 | &nbsp;&nbsp; 447435 |
| DTE Energy Co. | 3212 | &nbsp;&nbsp; 444573 |
| Duke Energy Corp. | 3819 | &nbsp;&nbsp; 464543 |
| Evergy, Inc.<sup>(c)</sup> | 7743 | &nbsp;&nbsp; 548204 |
| Eversource Energy | 7080 | &nbsp;&nbsp; 467988 |
| Exelon Corp. | 13027 | &nbsp;&nbsp; 585433 |
| FirstEnergy Corp. | 11289 | &nbsp;&nbsp; 482153 |
| NiSource, Inc. | 10146 | &nbsp;&nbsp; 430698 |
| PG&E Corp. | 46304 | &nbsp;&nbsp; 649182 |
| Pinnacle West Capital Corp. | 5839 | &nbsp;&nbsp; 529130 |
| PPL Corp. | 11829 | &nbsp;&nbsp; 422177 |

---

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

------

**Invesco S&P 500 Value with Momentum ETF (SPVM)—(continued)**

July 31, 2025

*(Unaudited)*

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Utilities-(continued)** | **Utilities-(continued)** | **Utilities-(continued)** |
| Sempra | 6349 | &nbsp;&nbsp; $518586 |
| Xcel Energy, Inc. | 6055 | &nbsp;&nbsp; 444679 |
|  |  | &nbsp;&nbsp; 9408524 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks & Other Equity Interests <br>(Cost $56,809,262) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks & Other Equity Interests <br>(Cost $56,809,262) | &nbsp;&nbsp; 62909249 |
| **Money Market Funds-0.12%** | **Money Market Funds-0.12%** | **Money Market Funds-0.12%** |
| &nbsp;&nbsp;&nbsp; Invesco Government & Agency Portfolio, <br> Institutional Class, 4.25%<sup>(d)(e)</sup> <br>(Cost $74,409)<br>| 74409 | &nbsp;&nbsp; 74409 |
| &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES <br>(excluding investments purchased with cash collateral from <br> securities on loan)-100.08% <br>(Cost $56,883,671) | &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES <br>(excluding investments purchased with cash collateral from <br> securities on loan)-100.08% <br>(Cost $56,883,671) | &nbsp;&nbsp; 62983658 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Investments Purchased with Cash Collateral from Securities** <br> **on Loan** | **Investments Purchased with Cash Collateral from Securities** <br> **on Loan** | **Investments Purchased with Cash Collateral from Securities** <br> **on Loan** |
| **Money Market Funds-8.34%** | **Money Market Funds-8.34%** | **Money Market Funds-8.34%** |
| &nbsp;&nbsp;&nbsp; Invesco Private Government Fund, <br> 4.32%<sup>(d)(e)(f)</sup><br>| 1454294 | &nbsp;&nbsp; $1454294 |
| Invesco Private Prime Fund, 4.46%<sup>(d)(e)(f)</sup> | 3794845 | &nbsp;&nbsp; 3795604 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Investments Purchased with Cash Collateral from <br> Securities on Loan <br>(Cost $5,249,898) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Investments Purchased with Cash Collateral from <br> Securities on Loan <br>(Cost $5,249,898) | &nbsp;&nbsp; 5249898 |
| &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES-108.42% <br>(Cost $62,133,569) | &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES-108.42% <br>(Cost $62,133,569) | &nbsp;&nbsp; 68233556 |
| OTHER ASSETS LESS LIABILITIES-(8.42)% | OTHER ASSETS LESS LIABILITIES-(8.42)% | &nbsp;&nbsp; (5299742)<br>|
| NET ASSETS-100.00% | NET ASSETS-100.00% | &nbsp;&nbsp; $62933814 |

---

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

Investment Abbreviations: <br> REIT -Real Estate Investment Trust

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

---

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

---

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

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Value** <br>**April 30, 2025**<br>| **Purchases** <br>**at Cost**<br>| **Proceeds** <br>**from Sales**<br>| **Change in** <br>**Unrealized** <br>**Appreciation**<br>| **Realized** <br>**Gain** <br>**(Loss)**<br>| **Value** <br>**July 31, 2025**<br>| **Dividend Income** |
| &nbsp;&nbsp; Invesco Ltd. | &nbsp;&nbsp;&nbsp; $265673 | &nbsp;&nbsp;&nbsp; $682100 | &nbsp;&nbsp;&nbsp; $(26864)<br>| &nbsp;&nbsp;&nbsp; $409444 | &nbsp;&nbsp;&nbsp; $9371 | &nbsp;&nbsp;&nbsp; $1339724 | &nbsp;&nbsp;&nbsp; $4140 |
| **Investments in Affiliated Money** <br> **Market Funds:**<br>|  |  |  |  |  |  |  |
| &nbsp;&nbsp; Invesco Government & Agency <br> Portfolio, Institutional Class<br>| &nbsp;&nbsp;&nbsp; 110016 | &nbsp;&nbsp;&nbsp; 421995 | &nbsp;&nbsp;&nbsp; (457602)<br>| &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; 74409 | &nbsp;&nbsp;&nbsp; 1123 |
| **Investments Purchased with** <br> **Cash Collateral from Securities** <br> **on Loan:**<br>|  |  |  |  |  |  |  |
| &nbsp;&nbsp; Invesco Private Government Fund | &nbsp;&nbsp;&nbsp; 1893177 | &nbsp;&nbsp;&nbsp; 8936964 | &nbsp;&nbsp;&nbsp; (9375847)<br>| &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; 1454294 | &nbsp;&nbsp;&nbsp; 16,478<br> \*<br>|
| &nbsp;&nbsp; Invesco Private Prime Fund | &nbsp;&nbsp;&nbsp; 4930086 | &nbsp;&nbsp;&nbsp; 20933486 | &nbsp;&nbsp;&nbsp; (22067854)<br>| &nbsp;&nbsp;&nbsp; 129 | &nbsp;&nbsp;&nbsp; (243)<br>| &nbsp;&nbsp;&nbsp; 3795604 | &nbsp;&nbsp;&nbsp; 45,801<br> \*<br>|
| &nbsp;&nbsp; Total | &nbsp;&nbsp;&nbsp; $7198952 | &nbsp;&nbsp;&nbsp; $30974545 | &nbsp;&nbsp;&nbsp; $(31928167)<br>| &nbsp;&nbsp;&nbsp; $409573 | &nbsp;&nbsp;&nbsp; $9128 | &nbsp;&nbsp;&nbsp; $6664031 | &nbsp;&nbsp;&nbsp; $67542 |

---

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

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

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

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

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

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

------

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

**Invesco S&P MidCap Momentum ETF (XMMO)**

July 31, 2025

*(Unaudited)*

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

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Common Stocks & Other Equity Interests-99.97%** | **Common Stocks & Other Equity Interests-99.97%** | **Common Stocks & Other Equity Interests-99.97%** |
| **Consumer Discretionary-6.59%** | **Consumer Discretionary-6.59%** | **Consumer Discretionary-6.59%** |
| Chewy, Inc., Class A<sup>(b)(c)</sup> | 829034 | &nbsp;&nbsp; $30425548 |
| Dick's Sporting Goods, Inc.<sup>(c)</sup> | 242910 | &nbsp;&nbsp; 51377894 |
| Duolingo, Inc.<sup>(b)(c)</sup> | 181713 | &nbsp;&nbsp; 62972640 |
| Murphy USA, Inc.<sup>(c)</sup> | 80541 | &nbsp;&nbsp; 29194502 |
| Planet Fitness, Inc., Class A<sup>(b)(c)</sup> | 409554 | &nbsp;&nbsp; 44719201 |
| Texas Roadhouse, Inc. | 307603 | &nbsp;&nbsp; 56946543 |
|  |  | &nbsp;&nbsp; 275636328 |
| **Consumer Staples-12.29%** | **Consumer Staples-12.29%** | **Consumer Staples-12.29%** |
| BellRing Brands, Inc.<sup>(b)</sup> | 505151 | &nbsp;&nbsp; 27571141 |
| BJ's Wholesale Club Holdings, Inc.<sup>(b)</sup> | 640604 | &nbsp;&nbsp; 67839964 |
| Casey's General Stores, Inc. | 178214 | &nbsp;&nbsp; 92694448 |
| Coca-Cola Consolidated, Inc. | 266853 | &nbsp;&nbsp; 29820823 |
| Maplebear, Inc.<sup>(b)(c)</sup> | 940511 | &nbsp;&nbsp; 45116313 |
| Pilgrim's Pride Corp.<sup>(c)</sup> | 241541 | &nbsp;&nbsp; 11446628 |
| Sprouts Farmers Market, Inc.<sup>(b)(c)</sup> | 857545 | &nbsp;&nbsp; 129952369 |
| US Foods Holding Corp.<sup>(b)</sup> | 1310559 | &nbsp;&nbsp; 109208881 |
|  |  | &nbsp;&nbsp; 513650567 |
| **Energy-4.42%** | **Energy-4.42%** | **Energy-4.42%** |
| Antero Midstream Corp. | 1523855 | &nbsp;&nbsp; 27962739 |
| Antero Resources Corp.<sup>(b)</sup> | 1252837 | &nbsp;&nbsp; 43761596 |
| DT Midstream, Inc.<sup>(c)</sup> | 868389 | &nbsp;&nbsp; 89209602 |
| Viper Energy, Inc.<sup>(c)</sup> | 632357 | &nbsp;&nbsp; 23814565 |
|  |  | &nbsp;&nbsp; 184748502 |
| **Financials-27.60%** | **Financials-27.60%** | **Financials-27.60%** |
| CNO Financial Group, Inc. | 473172 | &nbsp;&nbsp; 17431656 |
| Commerce Bancshares, Inc.<sup>(c)</sup> | 512671 | &nbsp;&nbsp; 31375465 |
| East West Bancorp, Inc. | 557248 | &nbsp;&nbsp; 55864112 |
| Equitable Holdings, Inc. | 1919628 | &nbsp;&nbsp; 98572898 |
| Evercore, Inc., Class A | 192278 | &nbsp;&nbsp; 57902597 |
| First Horizon Corp.<sup>(c)</sup> | 2462175 | &nbsp;&nbsp; 53700037 |
| Houlihan Lokey, Inc.<sup>(c)</sup> | 293926 | &nbsp;&nbsp; 56039931 |
| Interactive Brokers Group, Inc., Class A<sup>(c)</sup> | 3736124 | &nbsp;&nbsp; 244940289 |
| Janus Henderson Group PLC | 824300 | &nbsp;&nbsp; 35692190 |
| Jefferies Financial Group, Inc. | 1230697 | &nbsp;&nbsp; 70961989 |
| Old National Bancorp<sup>(c)</sup> | 1293776 | &nbsp;&nbsp; 27311611 |
| Old Republic International Corp. | 1357111 | &nbsp;&nbsp; 49086705 |
| Reinsurance Group of America, Inc. | 251361 | &nbsp;&nbsp; 48374424 |
| Ryan Specialty Holdings, Inc., Class A<sup>(c)</sup> | 522709 | &nbsp;&nbsp; 31984564 |
| SEI Investments Co. | 481507 | &nbsp;&nbsp; 42430397 |
| SLM Corp.<sup>(c)</sup> | 799449 | &nbsp;&nbsp; 25422478 |
| Stifel Financial Corp. | 589274 | &nbsp;&nbsp; 67247949 |
| Synovus Financial Corp. | 571137 | &nbsp;&nbsp; 26980512 |
| UMB Financial Corp. | 257428 | &nbsp;&nbsp; 28314506 |
| Unum Group<sup>(c)</sup> | 1171512 | &nbsp;&nbsp; 84126277 |
|  |  | &nbsp;&nbsp; 1153760587 |
| **Health Care-8.00%** | **Health Care-8.00%** | **Health Care-8.00%** |
| Doximity, Inc., Class A<sup>(b)(c)</sup> | 614124 | &nbsp;&nbsp; 36079785 |
| Encompass Health Corp. | 489116 | &nbsp;&nbsp; 53856563 |
| Exelixis, Inc.<sup>(b)(c)</sup> | 1124482 | &nbsp;&nbsp; 40728738 |
| Globus Medical, Inc., Class A<sup>(b)(c)</sup> | 653025 | &nbsp;&nbsp; 34368706 |
| Halozyme Therapeutics, Inc.<sup>(b)(c)</sup> | 539538 | &nbsp;&nbsp; 32356094 |
| Tenet Healthcare Corp.<sup>(b)</sup> | 439117 | &nbsp;&nbsp; 70820790 |
| United Therapeutics Corp.<sup>(b)</sup> | 241131 | &nbsp;&nbsp; 66238685 |
|  |  | &nbsp;&nbsp; 334449361 |
| **Industrials-22.04%** | **Industrials-22.04%** | **Industrials-22.04%** |
| AAON, Inc.<sup>(c)</sup> | 269768 | &nbsp;&nbsp; 22525628 |
| Acuity, Inc.<sup>(c)</sup> | 118010 | &nbsp;&nbsp; 36742414 |
| Applied Industrial Technologies, Inc.<sup>(c)</sup> | 166848 | &nbsp;&nbsp; 45299232 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Industrials-(continued)** | **Industrials-(continued)** | **Industrials-(continued)** |
| Chart Industries, Inc.<sup>(b)</sup> | 180511 | &nbsp;&nbsp; $35891002 |
| Clean Harbors, Inc.<sup>(b)(c)</sup> | 191190 | &nbsp;&nbsp; 45084514 |
| Comfort Systems USA, Inc.<sup>(c)</sup> | 170375 | &nbsp;&nbsp; 119824737 |
| Curtiss-Wright Corp. | 192475 | &nbsp;&nbsp; 94355095 |
| EMCOR Group, Inc. | 281624 | &nbsp;&nbsp; 176716244 |
| ESAB Corp.<sup>(c)</sup> | 220211 | &nbsp;&nbsp; 29545710 |
| ExlService Holdings, Inc.<sup>(b)(c)</sup> | 929779 | &nbsp;&nbsp; 40380302 |
| Flowserve Corp. | 733678 | &nbsp;&nbsp; 41115315 |
| MasTec, Inc.<sup>(b)</sup> | 408506 | &nbsp;&nbsp; 77293420 |
| Mueller Industries, Inc.<sup>(c)</sup> | 545547 | &nbsp;&nbsp; 46573347 |
| RB Global, Inc. (Canada) | 739913 | &nbsp;&nbsp; 80102981 |
| Ryder System, Inc. | 167681 | &nbsp;&nbsp; 29798591 |
|  |  | &nbsp;&nbsp; 921248532 |
| **Information Technology-8.34%** | **Information Technology-8.34%** | **Information Technology-8.34%** |
| Belden, Inc.<sup>(c)</sup> | 171008 | &nbsp;&nbsp; 21145139 |
| Commvault Systems, Inc.<sup>(b)(c)</sup> | 179562 | &nbsp;&nbsp; 34107802 |
| Flex Ltd.<sup>(b)</sup> | 1846934 | &nbsp;&nbsp; 92106599 |
| Guidewire Software, Inc.<sup>(b)</sup> | 503836 | &nbsp;&nbsp; 113977780 |
| Kyndryl Holdings, Inc.<sup>(b)(c)</sup> | 1076602 | &nbsp;&nbsp; 40663257 |
| TD SYNNEX Corp. | 323838 | &nbsp;&nbsp; 46758969 |
|  |  | &nbsp;&nbsp; 348759546 |
| **Materials-3.75%** | **Materials-3.75%** | **Materials-3.75%** |
| Carpenter Technology Corp. | 428293 | &nbsp;&nbsp; 106811991 |
| Knife River Corp.<sup>(b)(c)</sup> | 241094 | &nbsp;&nbsp; 19885433 |
| Louisiana-Pacific Corp. | 333753 | &nbsp;&nbsp; 30174609 |
|  |  | &nbsp;&nbsp; 156872033 |
| **Real Estate-4.14%** | **Real Estate-4.14%** | **Real Estate-4.14%** |
| Cousins Properties, Inc.<sup>(c)</sup> | 668851 | &nbsp;&nbsp; 18125862 |
| Jones Lang LaSalle, Inc.<sup>(b)(c)</sup> | 220914 | &nbsp;&nbsp; 59726309 |
| Omega Healthcare Investors, Inc. | 1360219 | &nbsp;&nbsp; 52912519 |
| Sabra Health Care REIT, Inc.<sup>(c)</sup> | 941432 | &nbsp;&nbsp; 16974019 |
| Vornado Realty Trust<sup>(c)</sup> | 664222 | &nbsp;&nbsp; 25519410 |
|  |  | &nbsp;&nbsp; 173258119 |
| **Utilities-2.80%** | **Utilities-2.80%** | **Utilities-2.80%** |
| National Fuel Gas Co. | 558697 | &nbsp;&nbsp; 48489313 |
| OGE Energy Corp.<sup>(c)</sup> | 936653 | &nbsp;&nbsp; 42542779 |
| TXNM Energy, Inc.<sup>(c)</sup> | 459641 | &nbsp;&nbsp; 26103012 |
|  |  | &nbsp;&nbsp; 117135104 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks & Other Equity Interests <br>(Cost $3,749,001,537) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks & Other Equity Interests <br>(Cost $3,749,001,537) | &nbsp;&nbsp; 4179518679 |
| **Money Market Funds-0.06%** | **Money Market Funds-0.06%** | **Money Market Funds-0.06%** |
| &nbsp;&nbsp;&nbsp; Invesco Government & Agency Portfolio, <br> Institutional Class, 4.25%<sup>(d)(e)</sup> <br>(Cost $2,461,053)<br>| 2461053 | &nbsp;&nbsp; 2461053 |
| &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES <br>(excluding investments purchased with cash collateral <br> from securities on loan)-100.03% <br>(Cost $3,751,462,590) | &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES <br>(excluding investments purchased with cash collateral <br> from securities on loan)-100.03% <br>(Cost $3,751,462,590) | &nbsp;&nbsp; 4181979732 |
| **Investments Purchased with Cash Collateral from Securities** <br> **on Loan** | **Investments Purchased with Cash Collateral from Securities** <br> **on Loan** | **Investments Purchased with Cash Collateral from Securities** <br> **on Loan** |
| **Money Market Funds-5.10%** | **Money Market Funds-5.10%** | **Money Market Funds-5.10%** |
| &nbsp;&nbsp;&nbsp; Invesco Private Government Fund, <br> 4.32%<sup>(d)(e)(f)</sup><br>| 59272461 | &nbsp;&nbsp; 59272461 |

---

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

------

**Invesco S&P MidCap Momentum ETF (XMMO)—(continued)**

July 31, 2025

*(Unaudited)*

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Money Market Funds-(continued)** | **Money Market Funds-(continued)** | **Money Market Funds-(continued)** |
| Invesco Private Prime Fund, 4.46%<sup>(d)(e)(f)</sup> | 154121964 | &nbsp;&nbsp; $154152788 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Investments Purchased with Cash Collateral from <br> Securities on Loan <br>(Cost $213,425,249) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Investments Purchased with Cash Collateral from <br> Securities on Loan <br>(Cost $213,425,249) | &nbsp;&nbsp; 213425249 |
| &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES-105.13% <br>(Cost $3,964,887,839) | &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES-105.13% <br>(Cost $3,964,887,839) | &nbsp;&nbsp; 4395404981 |
| OTHER ASSETS LESS LIABILITIES-(5.13)% | OTHER ASSETS LESS LIABILITIES-(5.13)% | &nbsp;&nbsp; (214480958)<br>|
| NET ASSETS-100.00% | NET ASSETS-100.00% | &nbsp;&nbsp; $4180924023 |

---

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

Investment Abbreviations: <br> REIT -Real Estate Investment Trust

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

---

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

---

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

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Value** <br>**April 30, 2025**<br>| **Purchases** <br>**at Cost**<br>| **Proceeds** <br>**from Sales**<br>| **Change in** <br>**Unrealized** <br>**Appreciation**<br>| **Realized** <br>**Gain** <br>**(Loss)**<br>| **Value** <br>**July 31, 2025**<br>| **Dividend Income** |
| **Investments in Affiliated** <br> **Money Market Funds:**<br>|  |  |  |  |  |  |  |
| &nbsp;&nbsp; Invesco Government & Agency <br> Portfolio, Institutional Class<br>| &nbsp;&nbsp;&nbsp; $1485367 | &nbsp;&nbsp;&nbsp; $11504013 | &nbsp;&nbsp;&nbsp; $(10528327)<br>| &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $2461053 | &nbsp;&nbsp;&nbsp; $33876 |
| **Investments Purchased with** <br> **Cash Collateral from** <br> **Securities on Loan:**<br>|  |  |  |  |  |  |  |
| &nbsp;&nbsp; Invesco Private Government <br> Fund<br>| &nbsp;&nbsp;&nbsp; 60869742 | &nbsp;&nbsp;&nbsp; 219020948 | &nbsp;&nbsp;&nbsp; (220618229)<br>| &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; 59272461 | &nbsp;&nbsp;&nbsp; 669,692<br> \*<br>|
| &nbsp;&nbsp; Invesco Private Prime Fund | &nbsp;&nbsp;&nbsp; 159962627 | &nbsp;&nbsp;&nbsp; 518091572 | &nbsp;&nbsp;&nbsp; (523902420)<br>| &nbsp;&nbsp;&nbsp; 6779 | &nbsp;&nbsp;&nbsp; (5770)<br>| &nbsp;&nbsp;&nbsp; 154152788 | &nbsp;&nbsp;&nbsp; 1,785,652<br> \*<br>|
| &nbsp;&nbsp; Total | &nbsp;&nbsp;&nbsp; $222317736 | &nbsp;&nbsp;&nbsp; $748616533 | &nbsp;&nbsp;&nbsp; $(755048976)<br>| &nbsp;&nbsp;&nbsp; $6779 | &nbsp;&nbsp;&nbsp; $(5770)<br>| &nbsp;&nbsp;&nbsp; $215886302 | &nbsp;&nbsp;&nbsp; $2489220 |

---

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

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

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

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

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

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

------

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

**Invesco S&P MidCap Quality ETF (XMHQ)**

July 31, 2025

*(Unaudited)*

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

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Common Stocks & Other Equity Interests-99.93%** | **Common Stocks & Other Equity Interests-99.93%** | **Common Stocks & Other Equity Interests-99.93%** |
| **Consumer Discretionary-13.42%** | **Consumer Discretionary-13.42%** | **Consumer Discretionary-13.42%** |
| Abercrombie & Fitch Co., Class A<sup>(b)(c)</sup> | 342210 | &nbsp;&nbsp; $32859004 |
| Autoliv, Inc. (Sweden)<sup>(c)</sup> | 485528 | &nbsp;&nbsp; 54160648 |
| Chewy, Inc., Class A<sup>(b)</sup> | 2109623 | &nbsp;&nbsp; 77423164 |
| Columbia Sportswear Co.<sup>(c)</sup> | 251975 | &nbsp;&nbsp; 14254226 |
| Crocs, Inc.<sup>(b)(c)</sup> | 491066 | &nbsp;&nbsp; 48974012 |
| GameStop Corp., Class A<sup>(b)(c)</sup> | 2923338 | &nbsp;&nbsp; 65628938 |
| Grand Canyon Education, Inc.<sup>(b)(c)</sup> | 307446 | &nbsp;&nbsp; 51844619 |
| Mattel, Inc.<sup>(b)(c)</sup> | 2066087 | &nbsp;&nbsp; 35144140 |
| Murphy USA, Inc.<sup>(c)</sup> | 138845 | &nbsp;&nbsp; 50328536 |
| Texas Roadhouse, Inc. | 471805 | &nbsp;&nbsp; 87345260 |
| TopBuild Corp.<sup>(b)(c)</sup> | 189686 | &nbsp;&nbsp; 70265385 |
| Valvoline, Inc.<sup>(b)(c)</sup> | 774796 | &nbsp;&nbsp; 27311559 |
| Visteon Corp.<sup>(b)</sup> | 171496 | &nbsp;&nbsp; 19061780 |
| YETI Holdings, Inc.<sup>(b)(c)</sup> | 493453 | &nbsp;&nbsp; 18129463 |
|  |  | &nbsp;&nbsp; 652730734 |
| **Consumer Staples-5.56%** | **Consumer Staples-5.56%** | **Consumer Staples-5.56%** |
| Boston Beer Co., Inc. (The), Class A<sup>(b)(c)</sup> | 62849 | &nbsp;&nbsp; 13014771 |
| Celsius Holdings, Inc.<sup>(b)(c)</sup> | 944376 | &nbsp;&nbsp; 42818008 |
| Ingredion, Inc.<sup>(c)</sup> | 505161 | &nbsp;&nbsp; 66448878 |
| Marzetti Co. (The)<sup>(c)</sup> | 126906 | &nbsp;&nbsp; 22558810 |
| Pilgrim's Pride Corp.<sup>(c)</sup> | 395210 | &nbsp;&nbsp; 18729002 |
| Sprouts Farmers Market, Inc.<sup>(b)</sup> | 704283 | &nbsp;&nbsp; 106727046 |
|  |  | &nbsp;&nbsp; 270296515 |
| **Energy-0.48%** | **Energy-0.48%** | **Energy-0.48%** |
| Weatherford International PLC | 410689 | &nbsp;&nbsp; 23224463 |
| **Financials-15.45%** | **Financials-15.45%** | **Financials-15.45%** |
| American Financial Group, Inc.<sup>(c)</sup> | 469485 | &nbsp;&nbsp; 58638676 |
| Essent Group Ltd. | 625994 | &nbsp;&nbsp; 35049404 |
| Evercore, Inc., Class A | 250073 | &nbsp;&nbsp; 75306983 |
| Federated Hermes, Inc., Class B<sup>(c)</sup> | 591195 | &nbsp;&nbsp; 29305536 |
| First Financial Bankshares, Inc.<sup>(c)</sup> | 777276 | &nbsp;&nbsp; 26909295 |
| Hamilton Lane, Inc., Class A<sup>(c)</sup> | 395839 | &nbsp;&nbsp; 60286280 |
| Houlihan Lokey, Inc. | 373213 | &nbsp;&nbsp; 71156791 |
| Kinsale Capital Group, Inc.<sup>(c)</sup> | 188530 | &nbsp;&nbsp; 83083286 |
| MGIC Investment Corp. | 1543324 | &nbsp;&nbsp; 39972092 |
| Morningstar, Inc. | 190514 | &nbsp;&nbsp; 52669500 |
| &nbsp;&nbsp;&nbsp; RenaissanceRe Holdings Ltd. <br> (Bermuda)<sup>(c)</sup><br>| 320519 | &nbsp;&nbsp; 78123301 |
| RLI Corp. | 606614 | &nbsp;&nbsp; 40030458 |
| SEI Investments Co. | 836813 | &nbsp;&nbsp; 73739962 |
| Western Union Co. (The)<sup>(c)</sup> | 3348321 | &nbsp;&nbsp; 26953984 |
|  |  | &nbsp;&nbsp; 751225548 |
| **Health Care-15.06%** | **Health Care-15.06%** | **Health Care-15.06%** |
| Avantor, Inc.<sup>(b)(c)</sup> | 4155947 | &nbsp;&nbsp; 55855927 |
| Chemed Corp.<sup>(c)</sup> | 105160 | &nbsp;&nbsp; 43357468 |
| Doximity, Inc., Class A<sup>(b)</sup> | 858181 | &nbsp;&nbsp; 50418134 |
| Exelixis, Inc.<sup>(b)</sup> | 2320959 | &nbsp;&nbsp; 84065135 |
| Halozyme Therapeutics, Inc.<sup>(b)(c)</sup> | 783201 | &nbsp;&nbsp; 46968564 |
| Hims & Hers Health, Inc.<sup>(b)(c)</sup> | 1449010 | &nbsp;&nbsp; 95895482 |
| Lantheus Holdings, Inc.<sup>(b)(c)</sup> | 388041 | &nbsp;&nbsp; 27624639 |
| Medpace Holdings, Inc.<sup>(b)(c)</sup> | 338980 | &nbsp;&nbsp; 144812256 |
| Penumbra, Inc.<sup>(b)(c)</sup> | 293245 | &nbsp;&nbsp; 73976916 |
| United Therapeutics Corp.<sup>(b)</sup> | 398807 | &nbsp;&nbsp; 109552283 |
|  |  | &nbsp;&nbsp; 732526804 |
| **Industrials-35.33%** | **Industrials-35.33%** | **Industrials-35.33%** |
| Acuity, Inc. | 193435 | &nbsp;&nbsp; 60225987 |
| AECOM | 820575 | &nbsp;&nbsp; 92511626 |
| Applied Industrial Technologies, Inc. | 234158 | &nbsp;&nbsp; 63573897 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Industrials-(continued)** | **Industrials-(continued)** | **Industrials-(continued)** |
| BWX Technologies, Inc. | 546835 | &nbsp;&nbsp; $83080642 |
| Carlisle Cos., Inc.<sup>(c)</sup> | 578558 | &nbsp;&nbsp; 205220308 |
| Comfort Systems USA, Inc. | 272959 | &nbsp;&nbsp; 191972065 |
| Donaldson Co., Inc. | 892812 | &nbsp;&nbsp; 64255680 |
| EMCOR Group, Inc. | 409150 | &nbsp;&nbsp; 256737533 |
| EnerSys<sup>(c)</sup> | 231363 | &nbsp;&nbsp; 21371000 |
| Exponent, Inc.<sup>(c)</sup> | 320365 | &nbsp;&nbsp; 22092370 |
| Fluor Corp.<sup>(b)(c)</sup> | 993443 | &nbsp;&nbsp; 56397759 |
| FTI Consulting, Inc.<sup>(b)(c)</sup> | 236061 | &nbsp;&nbsp; 39268747 |
| Genpact Ltd.<sup>(c)</sup> | 1030887 | &nbsp;&nbsp; 45410572 |
| Graco, Inc.<sup>(c)</sup> | 971913 | &nbsp;&nbsp; 81621254 |
| Insperity, Inc.<sup>(c)</sup> | 322327 | &nbsp;&nbsp; 19204243 |
| Landstar System, Inc.<sup>(c)</sup> | 244592 | &nbsp;&nbsp; 32621235 |
| Lincoln Electric Holdings, Inc. | 356954 | &nbsp;&nbsp; 86918299 |
| MSA Safety, Inc.<sup>(c)</sup> | 252434 | &nbsp;&nbsp; 44900436 |
| MSC Industrial Direct Co., Inc., Class A<sup>(c)</sup> | 279923 | &nbsp;&nbsp; 24246930 |
| Nextracker, Inc., Class A<sup>(b)(c)</sup> | 1002352 | &nbsp;&nbsp; 58397028 |
| Paylocity Holding Corp.<sup>(b)</sup> | 289571 | &nbsp;&nbsp; 53535886 |
| Toro Co. (The)<sup>(c)</sup> | 797811 | &nbsp;&nbsp; 59237467 |
| Valmont Industries, Inc.<sup>(c)</sup> | 151392 | &nbsp;&nbsp; 55099118 |
|  |  | &nbsp;&nbsp; 1717900082 |
| **Information Technology-8.52%** | **Information Technology-8.52%** | **Information Technology-8.52%** |
| Commvault Systems, Inc.<sup>(b)</sup> | 281900 | &nbsp;&nbsp; 53546905 |
| DocuSign, Inc.<sup>(b)</sup> | 1388027 | &nbsp;&nbsp; 104990362 |
| Manhattan Associates, Inc.<sup>(b)(c)</sup> | 669005 | &nbsp;&nbsp; 146953638 |
| Pegasystems, Inc.<sup>(c)</sup> | 627850 | &nbsp;&nbsp; 36861074 |
| Qualys, Inc.<sup>(b)(c)</sup> | 256046 | &nbsp;&nbsp; 34072041 |
| Vontier Corp.<sup>(c)</sup> | 910795 | &nbsp;&nbsp; 37770669 |
|  |  | &nbsp;&nbsp; 414194689 |
| **Materials-6.11%** | **Materials-6.11%** | **Materials-6.11%** |
| Cabot Corp.<sup>(c)</sup> | 356366 | &nbsp;&nbsp; 25722498 |
| Eagle Materials, Inc.<sup>(c)</sup> | 239015 | &nbsp;&nbsp; 53608674 |
| Louisiana-Pacific Corp. | 468455 | &nbsp;&nbsp; 42353017 |
| Royal Gold, Inc.<sup>(c)</sup> | 459986 | &nbsp;&nbsp; 69651080 |
| RPM International, Inc.<sup>(c)</sup> | 902724 | &nbsp;&nbsp; 105988825 |
|  |  | &nbsp;&nbsp; 297324094 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks & Other Equity Interests <br>(Cost $4,647,758,056) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks & Other Equity Interests <br>(Cost $4,647,758,056) | &nbsp;&nbsp; 4859422929 |
| **Money Market Funds-0.11%** | **Money Market Funds-0.11%** | **Money Market Funds-0.11%** |
| &nbsp;&nbsp;&nbsp; Invesco Government & Agency Portfolio, <br> Institutional Class, 4.25%<sup>(d)(e)</sup> <br>(Cost $5,102,365)<br>| 5102365 | &nbsp;&nbsp; 5102365 |
| &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES <br>(excluding investments purchased with cash collateral <br> from securities on loan)-100.04% <br>(Cost $4,652,860,421) | &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES <br>(excluding investments purchased with cash collateral <br> from securities on loan)-100.04% <br>(Cost $4,652,860,421) | &nbsp;&nbsp; 4864525294 |
| **Investments Purchased with Cash Collateral from Securities** <br> **on Loan** | **Investments Purchased with Cash Collateral from Securities** <br> **on Loan** | **Investments Purchased with Cash Collateral from Securities** <br> **on Loan** |
| **Money Market Funds-12.90%** | **Money Market Funds-12.90%** | **Money Market Funds-12.90%** |
| &nbsp;&nbsp;&nbsp; Invesco Private Government Fund, <br> 4.32%<sup>(d)(e)(f)</sup><br>| 170061464 | &nbsp;&nbsp; 170061464 |

---

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

------

**Invesco S&P MidCap Quality ETF (XMHQ)—(continued)**

July 31, 2025

*(Unaudited)*

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Money Market Funds-(continued)** | **Money Market Funds-(continued)** | **Money Market Funds-(continued)** |
| Invesco Private Prime Fund, 4.46%<sup>(d)(e)(f)</sup> | 457002803 | &nbsp;&nbsp; $457094204 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Investments Purchased with Cash Collateral from <br> Securities on Loan <br>(Cost $627,156,787) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Investments Purchased with Cash Collateral from <br> Securities on Loan <br>(Cost $627,156,787) | &nbsp;&nbsp; 627155668 |
| &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES-112.94% <br>(Cost $5,280,017,208) | &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES-112.94% <br>(Cost $5,280,017,208) | &nbsp;&nbsp; 5491680962 |
| OTHER ASSETS LESS LIABILITIES-(12.94)% | OTHER ASSETS LESS LIABILITIES-(12.94)% | &nbsp;&nbsp; (629004672)<br>|
| NET ASSETS-100.00% | NET ASSETS-100.00% | &nbsp;&nbsp; $4862676290 |

---

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

---

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

---

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

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Value** <br>**April 30, 2025**<br>| **Purchases** <br>**at Cost**<br>| **Proceeds** <br>**from Sales**<br>| **Change in** <br>**Unrealized** <br>**Appreciation**<br>| **Realized** <br>**Gain** <br>**(Loss)**<br>| **Value** <br>**July 31, 2025**<br>| **Dividend Income** |
| **Investments in Affiliated** <br> **Money Market Funds:**<br>|  |  |  |  |  |  |  |
| &nbsp;&nbsp; Invesco Government & <br> Agency Portfolio, <br> Institutional Class<br>| &nbsp;&nbsp;&nbsp; $4341548 | &nbsp;&nbsp;&nbsp; $24970413 | &nbsp;&nbsp;&nbsp; $(24209596)<br>| &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $5102365 | &nbsp;&nbsp;&nbsp; $53595 |
| **Investments Purchased** <br> **with Cash Collateral from** <br> **Securities on Loan:**<br>|  |  |  |  |  |  |  |
| &nbsp;&nbsp; Invesco Private Government <br> Fund<br>| &nbsp;&nbsp;&nbsp; 151004116 | &nbsp;&nbsp;&nbsp; 315762294 | &nbsp;&nbsp;&nbsp; (296704946)<br>| &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; 170061464 | &nbsp;&nbsp;&nbsp; 1,627,155<br> \*<br>|
| &nbsp;&nbsp; Invesco Private Prime Fund | &nbsp;&nbsp;&nbsp; 393999594 | &nbsp;&nbsp;&nbsp; 674158187 | &nbsp;&nbsp;&nbsp; (611062458)<br>| &nbsp;&nbsp;&nbsp; 22607 | &nbsp;&nbsp;&nbsp; (23726)<br>| &nbsp;&nbsp;&nbsp; 457094204 | &nbsp;&nbsp;&nbsp; 4,405,238<br> \*<br>|
| &nbsp;&nbsp; Total | &nbsp;&nbsp;&nbsp; $549345258 | &nbsp;&nbsp;&nbsp; $1014890894 | &nbsp;&nbsp;&nbsp; $(931977000)<br>| &nbsp;&nbsp;&nbsp; $22607 | &nbsp;&nbsp;&nbsp; $(23726)<br>| &nbsp;&nbsp;&nbsp; $632258033 | &nbsp;&nbsp;&nbsp; $6085988 |

---

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

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

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

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

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

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

------

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

**Invesco S&P MidCap Value with Momentum ETF (XMVM)**

July 31, 2025

*(Unaudited)*

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

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Common Stocks & Other Equity Interests-99.96%** | **Common Stocks & Other Equity Interests-99.96%** | **Common Stocks & Other Equity Interests-99.96%** |
| **Communication Services-3.11%** | **Communication Services-3.11%** | **Communication Services-3.11%** |
| EchoStar Corp., Class A<sup>(b)(c)</sup> | 251788 | &nbsp;&nbsp; $8205771 |
| **Consumer Discretionary-11.28%** | **Consumer Discretionary-11.28%** | **Consumer Discretionary-11.28%** |
| Aramark | 52504 | &nbsp;&nbsp; 2234570 |
| AutoNation, Inc.<sup>(b)</sup> | 23560 | &nbsp;&nbsp; 4538598 |
| Gap, Inc. (The)<sup>(c)</sup> | 151537 | &nbsp;&nbsp; 2948910 |
| Graham Holdings Co., Class B<sup>(c)</sup> | 4988 | &nbsp;&nbsp; 4759450 |
| Lithia Motors, Inc., Class A | 17965 | &nbsp;&nbsp; 5173920 |
| Murphy USA, Inc. | 5701 | &nbsp;&nbsp; 2066499 |
| Taylor Morrison Home Corp., Class A<sup>(b)(c)</sup> | 85280 | &nbsp;&nbsp; 5055399 |
| Travel + Leisure Co. | 50249 | &nbsp;&nbsp; 2977253 |
|  |  | &nbsp;&nbsp; 29754599 |
| **Consumer Staples-7.31%** | **Consumer Staples-7.31%** | **Consumer Staples-7.31%** |
| Albertson's Cos., Inc., Class A<sup>(c)</sup> | 221938 | &nbsp;&nbsp; 4265648 |
| Ingredion, Inc. | 16804 | &nbsp;&nbsp; 2210398 |
| Performance Food Group Co.<sup>(b)</sup> | 45348 | &nbsp;&nbsp; 4552939 |
| Pilgrim's Pride Corp. | 67440 | &nbsp;&nbsp; 3195982 |
| Post Holdings, Inc.<sup>(b)</sup> | 24100 | &nbsp;&nbsp; 2550021 |
| US Foods Holding Corp.<sup>(b)</sup> | 29876 | &nbsp;&nbsp; 2489567 |
|  |  | &nbsp;&nbsp; 19264555 |
| **Energy-0.83%** | **Energy-0.83%** | **Energy-0.83%** |
| Viper Energy, Inc.<sup>(c)</sup> | 57857 | &nbsp;&nbsp; 2178895 |
| **Financials-52.50%** | **Financials-52.50%** | **Financials-52.50%** |
| Affiliated Managers Group, Inc. | 13219 | &nbsp;&nbsp; 2774272 |
| American Financial Group, Inc. | 19346 | &nbsp;&nbsp; 2416315 |
| Annaly Capital Management, Inc.<sup>(c)</sup> | 132641 | &nbsp;&nbsp; 2696592 |
| Associated Banc-Corp | 119342 | &nbsp;&nbsp; 2952521 |
| Bank OZK | 90829 | &nbsp;&nbsp; 4477870 |
| Brighthouse Financial, Inc.<sup>(b)(c)</sup> | 113565 | &nbsp;&nbsp; 5434085 |
| Cadence Bank<sup>(c)</sup> | 108020 | &nbsp;&nbsp; 3764497 |
| CNO Financial Group, Inc. | 81350 | &nbsp;&nbsp; 2996934 |
| Columbia Banking System, Inc.<sup>(c)</sup> | 153872 | &nbsp;&nbsp; 3662154 |
| Comerica, Inc. | 55601 | &nbsp;&nbsp; 3756960 |
| Cullen/Frost Bankers, Inc.<sup>(c)</sup> | 16008 | &nbsp;&nbsp; 2039579 |
| East West Bancorp, Inc. | 27325 | &nbsp;&nbsp; 2739331 |
| Essent Group Ltd. | 60646 | &nbsp;&nbsp; 3395570 |
| F.N.B. Corp.<sup>(c)</sup> | 274175 | &nbsp;&nbsp; 4200361 |
| Federated Hermes, Inc., Class B<sup>(c)</sup> | 50615 | &nbsp;&nbsp; 2508986 |
| Fidelity National Financial, Inc.<sup>(c)</sup> | 46854 | &nbsp;&nbsp; 2643971 |
| First American Financial Corp.<sup>(c)</sup> | 46421 | &nbsp;&nbsp; 2787581 |
| First Horizon Corp. | 135761 | &nbsp;&nbsp; 2960947 |
| Hancock Whitney Corp.<sup>(c)</sup> | 59407 | &nbsp;&nbsp; 3547786 |
| Hanover Insurance Group, Inc. (The) | 14865 | &nbsp;&nbsp; 2551280 |
| Home BancShares, Inc. | 86456 | &nbsp;&nbsp; 2434601 |
| International Bancshares Corp.<sup>(c)</sup> | 45954 | &nbsp;&nbsp; 3133144 |
| Janus Henderson Group PLC | 75316 | &nbsp;&nbsp; 3261183 |
| Jefferies Financial Group, Inc. | 58860 | &nbsp;&nbsp; 3393868 |
| Kemper Corp. | 52272 | &nbsp;&nbsp; 3219432 |
| MGIC Investment Corp. | 120617 | &nbsp;&nbsp; 3123980 |
| Old National Bancorp | 144955 | &nbsp;&nbsp; 3060000 |
| Old Republic International Corp. | 79441 | &nbsp;&nbsp; 2873381 |
| Pinnacle Financial Partners, Inc. | 22046 | &nbsp;&nbsp; 1937623 |
| Prosperity Bancshares, Inc.<sup>(c)</sup> | 46341 | &nbsp;&nbsp; 3087237 |
| Reinsurance Group of America, Inc. | 17559 | &nbsp;&nbsp; 3379230 |
| RenaissanceRe Holdings Ltd. (Bermuda) | 16396 | &nbsp;&nbsp; 3996361 |
| SouthState Corp. | 32684 | &nbsp;&nbsp; 3077852 |
| Starwood Property Trust, Inc.<sup>(c)</sup> | 119962 | &nbsp;&nbsp; 2334461 |
| Synovus Financial Corp. | 52111 | &nbsp;&nbsp; 2461724 |
| Texas Capital Bancshares, Inc.<sup>(b)(c)</sup> | 29009 | &nbsp;&nbsp; 2435886 |
| UMB Financial Corp. | 26686 | &nbsp;&nbsp; 2935193 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Financials-(continued)** | **Financials-(continued)** | **Financials-(continued)** |
| United Bankshares, Inc. | 83995 | &nbsp;&nbsp; $2983502 |
| Unum Group | 44531 | &nbsp;&nbsp; 3197771 |
| Valley National Bancorp<sup>(c)</sup> | 446019 | &nbsp;&nbsp; 4134596 |
| Webster Financial Corp. | 60743 | &nbsp;&nbsp; 3501834 |
| Western Alliance Bancorporation | 43256 | &nbsp;&nbsp; 3354935 |
| Wintrust Financial Corp. | 23231 | &nbsp;&nbsp; 2973103 |
| Zions Bancorporation N.A. | 71047 | &nbsp;&nbsp; 3809540 |
|  |  | &nbsp;&nbsp; 138408029 |
| **Health Care-1.79%** | **Health Care-1.79%** | **Health Care-1.79%** |
| Tenet Healthcare Corp.<sup>(b)</sup> | 16356 | &nbsp;&nbsp; 2637896 |
| United Therapeutics Corp.<sup>(b)</sup> | 7577 | &nbsp;&nbsp; 2081402 |
|  |  | &nbsp;&nbsp; 4719298 |
| **Industrials-3.37%** | **Industrials-3.37%** | **Industrials-3.37%** |
| Ryder System, Inc. | 22928 | &nbsp;&nbsp; 4074535 |
| WESCO International, Inc. | 23209 | &nbsp;&nbsp; 4803334 |
|  |  | &nbsp;&nbsp; 8877869 |
| **Information Technology-5.94%** | **Information Technology-5.94%** | **Information Technology-5.94%** |
| Avnet, Inc. | 122459 | &nbsp;&nbsp; 6482979 |
| Flex Ltd.<sup>(b)</sup> | 55943 | &nbsp;&nbsp; 2789877 |
| TD SYNNEX Corp. | 44209 | &nbsp;&nbsp; 6383338 |
|  |  | &nbsp;&nbsp; 15656194 |
| **Materials-1.19%** | **Materials-1.19%** | **Materials-1.19%** |
| Graphic Packaging Holding Co.<sup>(c)</sup> | 140537 | &nbsp;&nbsp; 3142407 |
| **Real Estate-3.60%** | **Real Estate-3.60%** | **Real Estate-3.60%** |
| Cousins Properties, Inc. | 70483 | &nbsp;&nbsp; 1910089 |
| Jones Lang LaSalle, Inc.<sup>(b)</sup> | 14707 | &nbsp;&nbsp; 3976185 |
| Kilroy Realty Corp.<sup>(c)</sup> | 98107 | &nbsp;&nbsp; 3616224 |
|  |  | &nbsp;&nbsp; 9502498 |
| **Utilities-9.04%** | **Utilities-9.04%** | **Utilities-9.04%** |
| Black Hills Corp. | 50070 | &nbsp;&nbsp; 2893045 |
| Essential Utilities, Inc. | 53544 | &nbsp;&nbsp; 1970419 |
| New Jersey Resources Corp.<sup>(c)</sup> | 57130 | &nbsp;&nbsp; 2622838 |
| NorthWestern Energy Group, Inc. | 53735 | &nbsp;&nbsp; 2885570 |
| ONE Gas, Inc.<sup>(c)</sup> | 32860 | &nbsp;&nbsp; 2388922 |
| Portland General Electric Co. | 72784 | &nbsp;&nbsp; 2992878 |
| Southwest Gas Holdings, Inc.<sup>(c)</sup> | 35088 | &nbsp;&nbsp; 2741776 |
| Spire, Inc. | 33831 | &nbsp;&nbsp; 2519395 |
| UGI Corp.<sup>(c)</sup> | 77779 | &nbsp;&nbsp; 2814044 |
|  |  | &nbsp;&nbsp; 23828887 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks & Other Equity Interests <br>(Cost $234,396,095) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks & Other Equity Interests <br>(Cost $234,396,095) | &nbsp;&nbsp; 263539002 |
| **Money Market Funds-0.11%** | **Money Market Funds-0.11%** | **Money Market Funds-0.11%** |
| &nbsp;&nbsp;&nbsp; Invesco Government & Agency Portfolio, <br> Institutional Class, 4.25%<sup>(d)(e)</sup> <br>(Cost $270,939)<br>| 270939 | &nbsp;&nbsp; 270939 |
| &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES <br>(excluding investments purchased with cash collateral <br> from securities on loan)-100.07% <br>(Cost $234,667,034) | &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES <br>(excluding investments purchased with cash collateral <br> from securities on loan)-100.07% <br>(Cost $234,667,034) | &nbsp;&nbsp; 263809941 |
| **Investments Purchased with Cash Collateral from Securities** <br> **on Loan** | **Investments Purchased with Cash Collateral from Securities** <br> **on Loan** | **Investments Purchased with Cash Collateral from Securities** <br> **on Loan** |
| **Money Market Funds-18.17%** | **Money Market Funds-18.17%** | **Money Market Funds-18.17%** |
| &nbsp;&nbsp;&nbsp; Invesco Private Government Fund, <br> 4.32%<sup>(d)(e)(f)</sup><br>| 13302230 | &nbsp;&nbsp; 13302230 |

---

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

------

**Invesco S&P MidCap Value with Momentum ETF (XMVM)—(continued)**

July 31, 2025

*(Unaudited)*

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Money Market Funds-(continued)** | **Money Market Funds-(continued)** | **Money Market Funds-(continued)** |
| Invesco Private Prime Fund, 4.46%<sup>(d)(e)(f)</sup> | 34599185 | &nbsp;&nbsp; $34606105 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Investments Purchased with Cash Collateral from <br> Securities on Loan <br>(Cost $47,908,353) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Investments Purchased with Cash Collateral from <br> Securities on Loan <br>(Cost $47,908,353) | &nbsp;&nbsp; 47908335 |
| &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES-118.24% <br>(Cost $282,575,387) | &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES-118.24% <br>(Cost $282,575,387) | &nbsp;&nbsp; 311718276 |
| OTHER ASSETS LESS LIABILITIES-(18.24)% | OTHER ASSETS LESS LIABILITIES-(18.24)% | &nbsp;&nbsp; (48078208)<br>|
| NET ASSETS-100.00% | NET ASSETS-100.00% | &nbsp;&nbsp; $263640068 |

---

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

---

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

---

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

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Value** <br>**April 30, 2025**<br>| **Purchases** <br>**at Cost**<br>| **Proceeds** <br>**from Sales**<br>| **Change in** <br>**Unrealized** <br>**Appreciation**<br>| **Realized** <br>**Gain** <br>**(Loss)**<br>| **Value** <br>**July 31, 2025**<br>| **Dividend Income** |
| **Investments in Affiliated** <br> **Money Market Funds:**<br>|  |  |  |  |  |  |  |
| &nbsp;&nbsp; Invesco Government & Agency <br> Portfolio, Institutional Class<br>| &nbsp;&nbsp;&nbsp; $329198 | &nbsp;&nbsp;&nbsp; $8435113 | &nbsp;&nbsp;&nbsp; $(8493372)<br>| &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $270939 | &nbsp;&nbsp;&nbsp; $6982 |
| **Investments Purchased with** <br> **Cash Collateral from** <br> **Securities on Loan:**<br>|  |  |  |  |  |  |  |
| &nbsp;&nbsp; Invesco Private Government <br> Fund<br>| &nbsp;&nbsp;&nbsp; 14218409 | &nbsp;&nbsp;&nbsp; 40454384 | &nbsp;&nbsp;&nbsp; (41370563)<br>| &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; 13302230 | &nbsp;&nbsp;&nbsp; 102,902<br> \*<br>|
| &nbsp;&nbsp; Invesco Private Prime Fund | &nbsp;&nbsp;&nbsp; 34788887 | &nbsp;&nbsp;&nbsp; 66490089 | &nbsp;&nbsp;&nbsp; (66672752)<br>| &nbsp;&nbsp;&nbsp; 971 | &nbsp;&nbsp;&nbsp; (1090)<br>| &nbsp;&nbsp;&nbsp; 34606105 | &nbsp;&nbsp;&nbsp; 281,236<br> \*<br>|
| &nbsp;&nbsp; Total | &nbsp;&nbsp;&nbsp; $49336494 | &nbsp;&nbsp;&nbsp; $115379586 | &nbsp;&nbsp;&nbsp; $(116536687)<br>| &nbsp;&nbsp;&nbsp; $971 | &nbsp;&nbsp;&nbsp; $(1090)<br>| &nbsp;&nbsp;&nbsp; $48179274 | &nbsp;&nbsp;&nbsp; $391120 |

---

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

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

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

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

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

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

------

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

**Invesco S&P SmallCap Momentum ETF (XSMO)**

July 31, 2025

*(Unaudited)*

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

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Common Stocks & Other Equity Interests-99.92%** | **Common Stocks & Other Equity Interests-99.92%** | **Common Stocks & Other Equity Interests-99.92%** |
| **Communication Services-4.09%** | **Communication Services-4.09%** | **Communication Services-4.09%** |
| CarGurus, Inc.<sup>(b)</sup> | 362346 | &nbsp;&nbsp; $11892196 |
| Cinemark Holdings, Inc.<sup>(c)</sup> | 727819 | &nbsp;&nbsp; 19556497 |
| Lumen Technologies, Inc.<sup>(b)</sup> | 5047961 | &nbsp;&nbsp; 22463426 |
| QuinStreet, Inc.<sup>(b)</sup> | 236769 | &nbsp;&nbsp; 3885379 |
| Telephone and Data Systems, Inc. | 340073 | &nbsp;&nbsp; 13276450 |
|  |  | &nbsp;&nbsp; 71073948 |
| **Consumer Discretionary-16.79%** | **Consumer Discretionary-16.79%** | **Consumer Discretionary-16.79%** |
| Adtalem Global Education, Inc.<sup>(b)</sup> | 243665 | &nbsp;&nbsp; 27843599 |
| Boot Barn Holdings, Inc.<sup>(b)(c)</sup> | 173874 | &nbsp;&nbsp; 29888941 |
| Brinker International, Inc.<sup>(b)</sup> | 320066 | &nbsp;&nbsp; 50442402 |
| Buckle, Inc. (The) | 94767 | &nbsp;&nbsp; 4678647 |
| Cavco Industries, Inc.<sup>(b)</sup> | 28732 | &nbsp;&nbsp; 11598246 |
| Cheesecake Factory, Inc. (The)<sup>(c)</sup> | 200994 | &nbsp;&nbsp; 12845526 |
| Dorman Products, Inc.<sup>(b)</sup> | 115693 | &nbsp;&nbsp; 13954890 |
| Frontdoor, Inc.<sup>(b)</sup> | 416582 | &nbsp;&nbsp; 24370047 |
| Group 1 Automotive, Inc. | 69202 | &nbsp;&nbsp; 28521604 |
| Hanesbrands, Inc.<sup>(b)(c)</sup> | 1255578 | &nbsp;&nbsp; 5135314 |
| Kontoor Brands, Inc. | 208616 | &nbsp;&nbsp; 11611567 |
| Patrick Industries, Inc.<sup>(c)</sup> | 115575 | &nbsp;&nbsp; 11238513 |
| Perdoceo Education Corp. | 214492 | &nbsp;&nbsp; 6173080 |
| PHINIA, Inc. | 184733 | &nbsp;&nbsp; 9365963 |
| Sonic Automotive, Inc., Class A | 48436 | &nbsp;&nbsp; 3504345 |
| Stride, Inc.<sup>(b)(c)</sup> | 229652 | &nbsp;&nbsp; 29448276 |
| Wolverine World Wide, Inc.<sup>(c)</sup> | 499404 | &nbsp;&nbsp; 11276542 |
|  |  | &nbsp;&nbsp; 291897502 |
| **Consumer Staples-2.88%** | **Consumer Staples-2.88%** | **Consumer Staples-2.88%** |
| Cal-Maine Foods, Inc. | 293591 | &nbsp;&nbsp; 32629704 |
| Chefs' Warehouse, Inc. (The)<sup>(b)(c)</sup> | 164197 | &nbsp;&nbsp; 11257346 |
| United Natural Foods, Inc.<sup>(b)</sup> | 222701 | &nbsp;&nbsp; 6155456 |
|  |  | &nbsp;&nbsp; 50042506 |
| **Energy-1.61%** | **Energy-1.61%** | **Energy-1.61%** |
| Archrock, Inc. | 794239 | &nbsp;&nbsp; 18553423 |
| Comstock Resources, Inc.<sup>(b)(c)</sup> | 524799 | &nbsp;&nbsp; 9378158 |
|  |  | &nbsp;&nbsp; 27931581 |
| **Financials-19.98%** | **Financials-19.98%** | **Financials-19.98%** |
| Ameris Bancorp | 181001 | &nbsp;&nbsp; 12371418 |
| BankUnited, Inc. | 247588 | &nbsp;&nbsp; 9029534 |
| Banner Corp. | 137269 | &nbsp;&nbsp; 8520973 |
| Bread Financial Holdings, Inc. | 192429 | &nbsp;&nbsp; 11795898 |
| Central Pacific Financial Corp. | 114045 | &nbsp;&nbsp; 3040440 |
| Community Financial System, Inc. | 181016 | &nbsp;&nbsp; 9539543 |
| Enova International, Inc.<sup>(b)</sup> | 171174 | &nbsp;&nbsp; 17897954 |
| EZCORP, Inc., Class A<sup>(b)(c)</sup> | 175556 | &nbsp;&nbsp; 2513962 |
| FB Financial Corp. | 111686 | &nbsp;&nbsp; 5445809 |
| Fulton Financial Corp. | 511206 | &nbsp;&nbsp; 9176148 |
| Hanmi Financial Corp. | 101204 | &nbsp;&nbsp; 2308463 |
| Jackson Financial, Inc., Class A | 377365 | &nbsp;&nbsp; 33042079 |
| Moelis & Co., Class A | 230913 | &nbsp;&nbsp; 16196238 |
| Mr. Cooper Group, Inc.<sup>(b)</sup> | 278514 | &nbsp;&nbsp; 43370200 |
| Palomar Holdings, Inc.<sup>(b)</sup> | 122052 | &nbsp;&nbsp; 16170670 |
| Pathward Financial, Inc. | 101695 | &nbsp;&nbsp; 7690684 |
| Payoneer Global, Inc.<sup>(b)</sup> | 1377185 | &nbsp;&nbsp; 9048106 |
| Piper Sandler Cos. | 85168 | &nbsp;&nbsp; 26855174 |
| PJT Partners, Inc., Class A<sup>(c)</sup> | 118027 | &nbsp;&nbsp; 21081983 |
| StepStone Group, Inc., Class A | 363325 | &nbsp;&nbsp; 21566972 |
| StoneX Group, Inc.<sup>(b)</sup> | 223038 | &nbsp;&nbsp; 21688215 |
| Trustmark Corp. | 207579 | &nbsp;&nbsp; 7732318 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Financials-(continued)** | **Financials-(continued)** | **Financials-(continued)** |
| Virtu Financial, Inc., Class A | 581274 | &nbsp;&nbsp; $25657434 |
| WisdomTree, Inc.<sup>(c)</sup> | 414756 | &nbsp;&nbsp; 5503812 |
|  |  | &nbsp;&nbsp; 347244027 |
| **Health Care-13.63%** | **Health Care-13.63%** | **Health Care-13.63%** |
| Addus HomeCare Corp.<sup>(b)</sup> | 66174 | &nbsp;&nbsp; 7066060 |
| ADMA Biologics, Inc.<sup>(b)</sup> | 1546509 | &nbsp;&nbsp; 28919718 |
| Artivion, Inc.<sup>(b)(c)</sup> | 215236 | &nbsp;&nbsp; 6652945 |
| Catalyst Pharmaceuticals, Inc.<sup>(b)</sup> | 372532 | &nbsp;&nbsp; 7946107 |
| Corcept Therapeutics, Inc.<sup>(b)(c)</sup> | 672147 | &nbsp;&nbsp; 45148114 |
| CorVel Corp.<sup>(b)(c)</sup> | 96137 | &nbsp;&nbsp; 8517738 |
| Glaukos Corp.<sup>(b)(c)</sup> | 279116 | &nbsp;&nbsp; 24029096 |
| ICU Medical, Inc.<sup>(b)</sup> | 102831 | &nbsp;&nbsp; 13204529 |
| Integer Holdings Corp.<sup>(b)</sup> | 117683 | &nbsp;&nbsp; 12769782 |
| LeMaitre Vascular, Inc.<sup>(c)</sup> | 90312 | &nbsp;&nbsp; 7336947 |
| Ligand Pharmaceuticals, Inc.<sup>(b)(c)</sup> | 60550 | &nbsp;&nbsp; 7967169 |
| Merit Medical Systems, Inc.<sup>(b)</sup> | 243036 | &nbsp;&nbsp; 20624035 |
| Phibro Animal Health Corp., Class A | 94789 | &nbsp;&nbsp; 2511908 |
| Protagonist Therapeutics, Inc.<sup>(b)(c)</sup> | 165874 | &nbsp;&nbsp; 8933974 |
| RadNet, Inc.<sup>(b)(c)</sup> | 256175 | &nbsp;&nbsp; 14020458 |
| TG Therapeutics, Inc.<sup>(b)(c)</sup> | 458638 | &nbsp;&nbsp; 16281649 |
| UFP Technologies, Inc.<sup>(b)(c)</sup> | 22089 | &nbsp;&nbsp; 5000729 |
|  |  | &nbsp;&nbsp; 236930958 |
| **Industrials-19.30%** | **Industrials-19.30%** | **Industrials-19.30%** |
| ABM Industries, Inc. | 199326 | &nbsp;&nbsp; 9194908 |
| Armstrong World Industries, Inc. | 208954 | &nbsp;&nbsp; 39318874 |
| Brady Corp., Class A | 126329 | &nbsp;&nbsp; 8915038 |
| CSW Industrials, Inc. | 66886 | &nbsp;&nbsp; 17355579 |
| DXP Enterprises, Inc.<sup>(b)</sup> | 91561 | &nbsp;&nbsp; 10370199 |
| Dycom Industries, Inc.<sup>(b)</sup> | 120904 | &nbsp;&nbsp; 32500204 |
| Enerpac Tool Group Corp. | 225162 | &nbsp;&nbsp; 8670989 |
| Gates Industrial Corp. PLC<sup>(b)(c)</sup> | 1027332 | &nbsp;&nbsp; 25477834 |
| GEO Group, Inc. (The)<sup>(b)</sup> | 817385 | &nbsp;&nbsp; 21186619 |
| Granite Construction, Inc.<sup>(c)</sup> | 313471 | &nbsp;&nbsp; 29613605 |
| Greenbrier Cos., Inc. (The) | 106299 | &nbsp;&nbsp; 4836605 |
| Heidrick & Struggles International, Inc. | 71391 | &nbsp;&nbsp; 3179041 |
| Interface, Inc. | 255508 | &nbsp;&nbsp; 5268575 |
| Liquidity Services, Inc.<sup>(b)</sup> | 108180 | &nbsp;&nbsp; 2583339 |
| National Presto Industries, Inc. | 15800 | &nbsp;&nbsp; 1523910 |
| OPENLANE, Inc.<sup>(b)</sup> | 405943 | &nbsp;&nbsp; 10002436 |
| Pitney Bowes, Inc.<sup>(c)</sup> | 779395 | &nbsp;&nbsp; 8853927 |
| Powell Industries, Inc.<sup>(c)</sup> | 29073 | &nbsp;&nbsp; 6893208 |
| SkyWest, Inc.<sup>(b)</sup> | 291067 | &nbsp;&nbsp; 33752129 |
| SPX Technologies, Inc.<sup>(b)</sup> | 151441 | &nbsp;&nbsp; 27621324 |
| Trinity Industries, Inc. | 308301 | &nbsp;&nbsp; 7183413 |
| Zurn Elkay Water Solutions Corp. | 478705 | &nbsp;&nbsp; 21182696 |
|  |  | &nbsp;&nbsp; 335484452 |
| **Information Technology-12.71%** | **Information Technology-12.71%** | **Information Technology-12.71%** |
| A10 Networks, Inc. | 255727 | &nbsp;&nbsp; 4710491 |
| ACI Worldwide, Inc.<sup>(b)</sup> | 582153 | &nbsp;&nbsp; 24776432 |
| Badger Meter, Inc. | 110815 | &nbsp;&nbsp; 20917439 |
| Benchmark Electronics, Inc. | 120941 | &nbsp;&nbsp; 4656228 |
| CEVA, Inc.<sup>(b)(c)</sup> | 74213 | &nbsp;&nbsp; 1585932 |
| Grid Dynamics Holdings, Inc.<sup>(b)</sup> | 242431 | &nbsp;&nbsp; 2300670 |
| InterDigital, Inc.<sup>(c)</sup> | 138016 | &nbsp;&nbsp; 35635731 |
| Itron, Inc.<sup>(b)</sup> | 143091 | &nbsp;&nbsp; 17820553 |
| OSI Systems, Inc.<sup>(b)(c)</sup> | 58254 | &nbsp;&nbsp; 12874717 |
| Plexus Corp.<sup>(b)</sup> | 97507 | &nbsp;&nbsp; 12432142 |
| Sanmina Corp.<sup>(b)</sup> | 167867 | &nbsp;&nbsp; 19479287 |
| Semtech Corp.<sup>(b)(c)</sup> | 598849 | &nbsp;&nbsp; 30601184 |

---

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

------

**Invesco S&P SmallCap Momentum ETF (XSMO)—(continued)**

July 31, 2025

*(Unaudited)*

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Information Technology-(continued)** | **Information Technology-(continued)** | **Information Technology-(continued)** |
| SiTime Corp.<sup>(b)</sup> | 61561 | &nbsp;&nbsp; $12487649 |
| TTM Technologies, Inc.<sup>(b)</sup> | 434607 | &nbsp;&nbsp; 20535181 |
|  |  | &nbsp;&nbsp; 220813636 |
| **Materials-0.99%** | **Materials-0.99%** | **Materials-0.99%** |
| Hawkins, Inc. | 66928 | &nbsp;&nbsp; 10928004 |
| Sylvamo Corp. | 137531 | &nbsp;&nbsp; 6336053 |
|  |  | &nbsp;&nbsp; 17264057 |
| **Real Estate-6.19%** | **Real Estate-6.19%** | **Real Estate-6.19%** |
| Acadia Realty Trust<sup>(c)</sup> | 497516 | &nbsp;&nbsp; 9313499 |
| CareTrust REIT, Inc. | 690621 | &nbsp;&nbsp; 21961748 |
| Essential Properties Realty Trust, Inc. | 725997 | &nbsp;&nbsp; 22135649 |
| Four Corners Property Trust, Inc.<sup>(c)</sup> | 312543 | &nbsp;&nbsp; 7888585 |
| Highwoods Properties, Inc. | 363419 | &nbsp;&nbsp; 10542785 |
| NexPoint Residential Trust, Inc. | 71944 | &nbsp;&nbsp; 2243214 |
| Outfront Media, Inc.<sup>(c)</sup> | 506143 | &nbsp;&nbsp; 8872687 |
| SL Green Realty Corp. | 255772 | &nbsp;&nbsp; 14642947 |
| Tanger, Inc. | 334648 | &nbsp;&nbsp; 10046133 |
|  |  | &nbsp;&nbsp; 107647247 |
| **Utilities-1.75%** | **Utilities-1.75%** | **Utilities-1.75%** |
| MDU Resources Group, Inc. | 1163211 | &nbsp;&nbsp; 20065390 |
| MGE Energy, Inc.<sup>(c)</sup> | 120837 | &nbsp;&nbsp; 10263895 |
|  |  | &nbsp;&nbsp; 30329285 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks & Other Equity Interests <br>(Cost $1,592,699,994) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks & Other Equity Interests <br>(Cost $1,592,699,994) | &nbsp;&nbsp; 1736659199 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Money Market Funds-0.11%** | **Money Market Funds-0.11%** | **Money Market Funds-0.11%** |
| &nbsp;&nbsp;&nbsp; Invesco Government & Agency Portfolio, <br> Institutional Class, 4.25%<sup>(d)(e)</sup> <br>(Cost $1,939,990)<br>| 1939990 | &nbsp;&nbsp; $1939990 |
| &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES <br>(excluding investments purchased with cash collateral <br> from securities on loan)-100.03% <br>(Cost $1,594,639,984) | &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES <br>(excluding investments purchased with cash collateral <br> from securities on loan)-100.03% <br>(Cost $1,594,639,984) | &nbsp;&nbsp; 1738599189 |
| **Investments Purchased with Cash Collateral from Securities** <br> **on Loan** | **Investments Purchased with Cash Collateral from Securities** <br> **on Loan** | **Investments Purchased with Cash Collateral from Securities** <br> **on Loan** |
| **Money Market Funds-12.54%** | **Money Market Funds-12.54%** | **Money Market Funds-12.54%** |
| &nbsp;&nbsp;&nbsp; Invesco Private Government Fund, <br> 4.32%<sup>(d)(e)(f)</sup><br>| 60460587 | &nbsp;&nbsp; 60460587 |
| Invesco Private Prime Fund, 4.46%<sup>(d)(e)(f)</sup> | 157349042 | &nbsp;&nbsp; 157380512 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Investments Purchased with Cash Collateral from <br> Securities on Loan <br>(Cost $217,842,003) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Investments Purchased with Cash Collateral from <br> Securities on Loan <br>(Cost $217,842,003) | &nbsp;&nbsp; 217841099 |
| &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES-112.57% <br>(Cost $1,812,481,987) | &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES-112.57% <br>(Cost $1,812,481,987) | &nbsp;&nbsp; 1956440288 |
| OTHER ASSETS LESS LIABILITIES-(12.57)% | OTHER ASSETS LESS LIABILITIES-(12.57)% | &nbsp;&nbsp; (218409685)<br>|
| NET ASSETS-100.00% | NET ASSETS-100.00% | &nbsp;&nbsp; $1738030603 |

---

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

Investment Abbreviations: <br> REIT -Real Estate Investment Trust

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

---

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

---

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

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Value** <br>**April 30, 2025**<br>| **Purchases** <br>**at Cost**<br>| **Proceeds** <br>**from Sales**<br>| **Change in** <br>**Unrealized** <br>**Appreciation**<br>| **Realized** <br>**Gain** <br>**(Loss)**<br>| **Value** <br>**July 31, 2025**<br>| **Dividend Income** |
| **Investments in Affiliated** <br> **Money Market Funds:**<br>|  |  |  |  |  |  |  |
| &nbsp;&nbsp; Invesco Government & <br> Agency Portfolio, Institutional <br> Class<br>| &nbsp;&nbsp;&nbsp; $1367282 | &nbsp;&nbsp;&nbsp; $4971486 | &nbsp;&nbsp;&nbsp; $(4398778)<br>| &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $1939990 | &nbsp;&nbsp;&nbsp; $15359 |
| **Investments Purchased with** <br> **Cash Collateral from** <br> **Securities on Loan:**<br>|  |  |  |  |  |  |  |
| &nbsp;&nbsp; Invesco Private Government <br> Fund<br>| &nbsp;&nbsp;&nbsp; 66856725 | &nbsp;&nbsp;&nbsp; 99971774 | &nbsp;&nbsp;&nbsp; (106367912)<br>| &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; 60460587 | &nbsp;&nbsp;&nbsp; 709,431<br> \*<br>|
| &nbsp;&nbsp; Invesco Private Prime Fund | &nbsp;&nbsp;&nbsp; 173410521 | &nbsp;&nbsp;&nbsp; 258045674 | &nbsp;&nbsp;&nbsp; (274074779)<br>| &nbsp;&nbsp;&nbsp; 10397 | &nbsp;&nbsp;&nbsp; (11301)<br>| &nbsp;&nbsp;&nbsp; 157380512 | &nbsp;&nbsp;&nbsp; 1,884,241<br> \*<br>|
| &nbsp;&nbsp; Total | &nbsp;&nbsp;&nbsp; $241634528 | &nbsp;&nbsp;&nbsp; $362988934 | &nbsp;&nbsp;&nbsp; $(384841469)<br>| &nbsp;&nbsp;&nbsp; $10397 | &nbsp;&nbsp;&nbsp; $(11301)<br>| &nbsp;&nbsp;&nbsp; $219781089 | &nbsp;&nbsp;&nbsp; $2609031 |

---

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

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

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

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

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

------

**Invesco S&P SmallCap Momentum ETF (XSMO)—(continued)**

July 31, 2025

*(Unaudited)*

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

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

------

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

**Invesco S&P SmallCap Value with Momentum ETF (XSVM)**

July 31, 2025

*(Unaudited)*

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

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Common Stocks & Other Equity Interests-99.91%** | **Common Stocks & Other Equity Interests-99.91%** | **Common Stocks & Other Equity Interests-99.91%** |
| **Communication Services-2.30%** | **Communication Services-2.30%** | **Communication Services-2.30%** |
| Shenandoah Telecommunications Co.<sup>(b)</sup> | 238355 | &nbsp;&nbsp; $3499051 |
| TEGNA, Inc.<sup>(b)</sup> | 315353 | &nbsp;&nbsp; 5266395 |
| Telephone and Data Systems, Inc. | 101116 | &nbsp;&nbsp; 3947569 |
|  |  | &nbsp;&nbsp; 12713015 |
| **Consumer Discretionary-16.17%** | **Consumer Discretionary-16.17%** | **Consumer Discretionary-16.17%** |
| Asbury Automotive Group, Inc.<sup>(b)(c)</sup> | 25385 | &nbsp;&nbsp; 5638516 |
| Dana, Inc. | 280434 | &nbsp;&nbsp; 4464509 |
| Ethan Allen Interiors, Inc.<sup>(b)</sup> | 132986 | &nbsp;&nbsp; 3958993 |
| G-III Apparel Group Ltd.<sup>(c)</sup> | 303016 | &nbsp;&nbsp; 7151178 |
| Green Brick Partners, Inc.<sup>(c)</sup> | 62296 | &nbsp;&nbsp; 3858614 |
| Group 1 Automotive, Inc. | 12449 | &nbsp;&nbsp; 5130855 |
| La-Z-Boy, Inc.<sup>(b)</sup> | 83810 | &nbsp;&nbsp; 3014646 |
| M/I Homes, Inc.<sup>(c)</sup> | 50208 | &nbsp;&nbsp; 6034500 |
| MarineMax, Inc.<sup>(b)(c)</sup> | 399645 | &nbsp;&nbsp; 9063949 |
| Meritage Homes Corp. | 82429 | &nbsp;&nbsp; 5550769 |
| PENN Entertainment, Inc.<sup>(c)</sup> | 329256 | &nbsp;&nbsp; 5946363 |
| PHINIA, Inc. | 96595 | &nbsp;&nbsp; 4897367 |
| Sally Beauty Holdings, Inc.<sup>(b)(c)</sup> | 778702 | &nbsp;&nbsp; 7584558 |
| Sonic Automotive, Inc., Class A<sup>(b)</sup> | 91401 | &nbsp;&nbsp; 6612862 |
| Tri Pointe Homes, Inc.<sup>(c)</sup> | 185800 | &nbsp;&nbsp; 5722640 |
| Victoria's Secret & Co.<sup>(c)</sup> | 248538 | &nbsp;&nbsp; 4672514 |
|  |  | &nbsp;&nbsp; 89302833 |
| **Consumer Staples-6.30%** | **Consumer Staples-6.30%** | **Consumer Staples-6.30%** |
| Cal-Maine Foods, Inc. | 40829 | &nbsp;&nbsp; 4537735 |
| Fresh Del Monte Produce, Inc.<sup>(b)</sup> | 179544 | &nbsp;&nbsp; 6749059 |
| SpartanNash Co. | 418143 | &nbsp;&nbsp; 11097515 |
| United Natural Foods, Inc.<sup>(c)</sup> | 300053 | &nbsp;&nbsp; 8293465 |
| Universal Corp. | 75530 | &nbsp;&nbsp; 4114119 |
|  |  | &nbsp;&nbsp; 34791893 |
| **Energy-2.38%** | **Energy-2.38%** | **Energy-2.38%** |
| Bristow Group, Inc.<sup>(c)</sup> | 162556 | &nbsp;&nbsp; 5619561 |
| World Kinect Corp.<sup>(b)</sup> | 276566 | &nbsp;&nbsp; 7541955 |
|  |  | &nbsp;&nbsp; 13161516 |
| **Financials-50.63%** | **Financials-50.63%** | **Financials-50.63%** |
| Ameris Bancorp | 54759 | &nbsp;&nbsp; 3742778 |
| Apollo Commercial Real Estate Finance, Inc. | 355038 | &nbsp;&nbsp; 3415466 |
| Arbor Realty Trust, Inc.<sup>(b)</sup> | 425981 | &nbsp;&nbsp; 4753948 |
| Assured Guaranty Ltd. | 52151 | &nbsp;&nbsp; 4410932 |
| Atlantic Union Bankshares Corp., Class B | 123360 | &nbsp;&nbsp; 3910512 |
| Banc of California, Inc. | 291357 | &nbsp;&nbsp; 4230504 |
| BankUnited, Inc. | 117152 | &nbsp;&nbsp; 4272533 |
| Banner Corp. | 53256 | &nbsp;&nbsp; 3305866 |
| Berkshire Hills Bancorp, Inc. | 156739 | &nbsp;&nbsp; 3862049 |
| Bread Financial Holdings, Inc. | 90691 | &nbsp;&nbsp; 5559358 |
| Brookline Bancorp, Inc. | 414349 | &nbsp;&nbsp; 4276082 |
| Capitol Federal Financial, Inc. | 723312 | &nbsp;&nbsp; 4354338 |
| Cathay General Bancorp | 79100 | &nbsp;&nbsp; 3576902 |
| Customers Bancorp, Inc.<sup>(c)</sup> | 71988 | &nbsp;&nbsp; 4589235 |
| Dime Community Bancshares, Inc., Class B | 125489 | &nbsp;&nbsp; 3477300 |
| Eagle Bancorp, Inc.<sup>(b)</sup> | 247509 | &nbsp;&nbsp; 3982420 |
| Ellington Financial, Inc. | 308581 | &nbsp;&nbsp; 3915893 |
| Employers Holdings, Inc. | 80722 | &nbsp;&nbsp; 3332204 |
| Enact Holdings, Inc. | 110091 | &nbsp;&nbsp; 3826763 |
| EZCORP, Inc., Class A<sup>(b)(c)</sup> | 369791 | &nbsp;&nbsp; 5295407 |
| First Commonwealth Financial Corp. | 216155 | &nbsp;&nbsp; 3568719 |
| First Financial Bancorp | 164944 | &nbsp;&nbsp; 3998243 |
| First Hawaiian, Inc. | 136584 | &nbsp;&nbsp; 3312162 |
| Franklin BSP Realty Trust, Inc.<sup>(b)</sup> | 369173 | &nbsp;&nbsp; 3728647 |
| Fulton Financial Corp. | 215151 | &nbsp;&nbsp; 3861960 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Financials-(continued)** | **Financials-(continued)** | **Financials-(continued)** |
| Genworth Financial, Inc., Class A<sup>(c)</sup> | 1086941 | &nbsp;&nbsp; $8543356 |
| Hanmi Financial Corp. | 167205 | &nbsp;&nbsp; 3813946 |
| Heritage Financial Corp. | 154851 | &nbsp;&nbsp; 3490342 |
| Hilltop Holdings, Inc.<sup>(b)</sup> | 132926 | &nbsp;&nbsp; 3934610 |
| Hope Bancorp, Inc. | 504554 | &nbsp;&nbsp; 5040494 |
| Horace Mann Educators Corp. | 80197 | &nbsp;&nbsp; 3410778 |
| Independent Bank Corp. | 58591 | &nbsp;&nbsp; 3723458 |
| Jackson Financial, Inc., Class A | 61593 | &nbsp;&nbsp; 5393083 |
| KKR Real Estate Finance Trust, Inc.<sup>(b)</sup> | 451894 | &nbsp;&nbsp; 4085122 |
| Lincoln National Corp. | 224639 | &nbsp;&nbsp; 8560992 |
| Mercury General Corp. | 55252 | &nbsp;&nbsp; 3826201 |
| National Bank Holdings Corp., Class A | 94361 | &nbsp;&nbsp; 3497019 |
| New York Mortgage Trust, Inc. | 555232 | &nbsp;&nbsp; 3514619 |
| NMI Holdings, Inc., Class A<sup>(b)(c)</sup> | 81714 | &nbsp;&nbsp; 3049566 |
| Northwest Bancshares, Inc. | 291479 | &nbsp;&nbsp; 3410304 |
| Pacific Premier Bancorp, Inc. | 208287 | &nbsp;&nbsp; 4513579 |
| PennyMac Mortgage Investment Trust<sup>(b)</sup> | 335968 | &nbsp;&nbsp; 3961063 |
| PRA Group, Inc.<sup>(b)(c)</sup> | 508527 | &nbsp;&nbsp; 7729610 |
| PROG Holdings, Inc. | 164389 | &nbsp;&nbsp; 5234146 |
| Provident Financial Services, Inc. | 235692 | &nbsp;&nbsp; 4294308 |
| Radian Group, Inc. | 110324 | &nbsp;&nbsp; 3597666 |
| Redwood Trust, Inc.<sup>(b)</sup> | 764928 | &nbsp;&nbsp; 4176507 |
| Renasant Corp. | 116070 | &nbsp;&nbsp; 4252805 |
| S&T Bancorp, Inc.<sup>(b)</sup> | 99342 | &nbsp;&nbsp; 3639891 |
| Safety Insurance Group, Inc. | 41751 | &nbsp;&nbsp; 2937183 |
| Seacoast Banking Corp. of Florida | 130234 | &nbsp;&nbsp; 3671296 |
| Simmons First National Corp., Class A | 236181 | &nbsp;&nbsp; 4527590 |
| SiriusPoint Ltd. (Sweden)<sup>(c)</sup> | 177325 | &nbsp;&nbsp; 3477343 |
| Southside Bancshares, Inc.<sup>(b)</sup> | 128243 | &nbsp;&nbsp; 3775474 |
| Stellar Bancorp, Inc. | 141192 | &nbsp;&nbsp; 4169400 |
| Stewart Information Services Corp. | 62198 | &nbsp;&nbsp; 4038516 |
| StoneX Group, Inc.<sup>(c)</sup> | 79163 | &nbsp;&nbsp; 7697810 |
| Tompkins Financial Corp. | 53149 | &nbsp;&nbsp; 3437677 |
| TrustCo Bank Corp. | 125100 | &nbsp;&nbsp; 4198356 |
| Trustmark Corp. | 107823 | &nbsp;&nbsp; 4016407 |
| Two Harbors Investment Corp.<sup>(b)</sup> | 323116 | &nbsp;&nbsp; 3150381 |
| United Community Banks, Inc. | 119800 | &nbsp;&nbsp; 3653900 |
| &nbsp;&nbsp;&nbsp; United Fire Group, Inc., (Acquired <br> 06/20/2025 - 06/23/2025; <br> Cost $5,215,327)<sup>(d)</sup><br>| 182360 | &nbsp;&nbsp; 4841658 |
| Veritex Holdings, Inc. | 165846 | &nbsp;&nbsp; 5260635 |
| WaFd, Inc. | 142058 | &nbsp;&nbsp; 4134598 |
| WSFS Financial Corp. | 63482 | &nbsp;&nbsp; 3481353 |
|  |  | &nbsp;&nbsp; 279723263 |
| **Health Care-2.09%** | **Health Care-2.09%** | **Health Care-2.09%** |
| AdaptHealth Corp.<sup>(b)(c)</sup> | 696588 | &nbsp;&nbsp; 6248395 |
| Select Medical Holdings Corp. | 357570 | &nbsp;&nbsp; 5288460 |
|  |  | &nbsp;&nbsp; 11536855 |
| **Industrials-8.63%** | **Industrials-8.63%** | **Industrials-8.63%** |
| ABM Industries, Inc. | 85537 | &nbsp;&nbsp; 3945822 |
| Air Lease Corp., Class A | 75324 | &nbsp;&nbsp; 4172950 |
| DNOW, Inc.<sup>(c)</sup> | 255267 | &nbsp;&nbsp; 3971954 |
| Greenbrier Cos., Inc. (The) | 128971 | &nbsp;&nbsp; 5868180 |
| Healthcare Services Group, Inc.<sup>(c)</sup> | 224599 | &nbsp;&nbsp; 2922033 |
| JetBlue Airways Corp.<sup>(b)(c)</sup> | 1297370 | &nbsp;&nbsp; 5760323 |
| Matson, Inc. | 34673 | &nbsp;&nbsp; 3702383 |
| Resideo Technologies, Inc.<sup>(c)</sup> | 214452 | &nbsp;&nbsp; 5854540 |
| Rush Enterprises, Inc., Class A<sup>(b)</sup> | 76825 | &nbsp;&nbsp; 4159305 |
| Schneider National, Inc., Class B<sup>(b)</sup> | 142677 | &nbsp;&nbsp; 3488453 |
| SkyWest, Inc.<sup>(c)</sup> | 33042 | &nbsp;&nbsp; 3831550 |
|  |  | &nbsp;&nbsp; 47677493 |

---

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

------

**Invesco S&P SmallCap Value with Momentum ETF (XSVM)—(continued)**

July 31, 2025

*(Unaudited)*

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Information Technology-2.94%** | **Information Technology-2.94%** | **Information Technology-2.94%** |
| Alpha & Omega Semiconductor Ltd.<sup>(c)</sup> | 163955 | &nbsp;&nbsp; $4175934 |
| Benchmark Electronics, Inc.<sup>(b)</sup> | 112124 | &nbsp;&nbsp; 4316774 |
| PC Connection, Inc. | 53190 | &nbsp;&nbsp; 3275972 |
| Sanmina Corp.<sup>(c)</sup> | 38764 | &nbsp;&nbsp; 4498174 |
|  |  | &nbsp;&nbsp; 16266854 |
| **Materials-2.32%** | **Materials-2.32%** | **Materials-2.32%** |
| Century Aluminum Co.<sup>(b)(c)</sup> | 190417 | &nbsp;&nbsp; 4033032 |
| SunCoke Energy, Inc. | 722856 | &nbsp;&nbsp; 5341906 |
| Sylvamo Corp. | 74493 | &nbsp;&nbsp; 3431892 |
|  |  | &nbsp;&nbsp; 12806830 |
| **Real Estate-4.29%** | **Real Estate-4.29%** | **Real Estate-4.29%** |
| American Assets Trust, Inc. | 172894 | &nbsp;&nbsp; 3290173 |
| Cushman & Wakefield PLC<sup>(b)(c)</sup> | 578130 | &nbsp;&nbsp; 7047405 |
| eXp World Holdings, Inc.<sup>(b)</sup> | 394656 | &nbsp;&nbsp; 4254392 |
| Safehold, Inc.<sup>(b)</sup> | 385278 | &nbsp;&nbsp; 5390039 |
| &nbsp;&nbsp;&nbsp; SITE Centers Corp., (Acquired 12/20/2024; <br> Cost $5,328,653)<sup>(d)</sup><br>| 344473 | &nbsp;&nbsp; 3709974 |
|  |  | &nbsp;&nbsp; 23691983 |
| **Utilities-1.86%** | **Utilities-1.86%** | **Utilities-1.86%** |
| Avista Corp. | 89665 | &nbsp;&nbsp; 3344505 |
| MDU Resources Group, Inc. | 194456 | &nbsp;&nbsp; 3354366 |
| Northwest Natural Holding Co. | 89134 | &nbsp;&nbsp; 3558229 |
|  |  | &nbsp;&nbsp; 10257100 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks & Other Equity Interests <br>(Cost $541,411,289) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks & Other Equity Interests <br>(Cost $541,411,289) | &nbsp;&nbsp; 551929635 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Money Market Funds-0.11%** | **Money Market Funds-0.11%** | **Money Market Funds-0.11%** |
| &nbsp;&nbsp;&nbsp; Invesco Government & Agency Portfolio, <br> Institutional Class, 4.25%<sup>(e)(f)</sup> <br>(Cost $634,426)<br>| 634426 | &nbsp;&nbsp; $634426 |
| &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES <br>(excluding investments purchased with cash collateral <br> from securities on loan)-100.02% <br>(Cost $542,045,715) | &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES <br>(excluding investments purchased with cash collateral <br> from securities on loan)-100.02% <br>(Cost $542,045,715) | &nbsp;&nbsp; 552564061 |
| **Investments Purchased with Cash Collateral from Securities** <br> **on Loan** | **Investments Purchased with Cash Collateral from Securities** <br> **on Loan** | **Investments Purchased with Cash Collateral from Securities** <br> **on Loan** |
| **Money Market Funds-8.78%** | **Money Market Funds-8.78%** | **Money Market Funds-8.78%** |
| &nbsp;&nbsp;&nbsp; Invesco Private Government Fund, <br> 4.32%<sup>(e)(f)(g)</sup><br>| 13495338 | &nbsp;&nbsp; 13495338 |
| Invesco Private Prime Fund, 4.46%<sup>(e)(f)(g)</sup> | 35013092 | &nbsp;&nbsp; 35020095 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Investments Purchased with Cash Collateral from <br> Securities on Loan <br>(Cost $48,515,608) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Investments Purchased with Cash Collateral from <br> Securities on Loan <br>(Cost $48,515,608) | &nbsp;&nbsp; 48515433 |
| &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES-108.80% <br>(Cost $590,561,323) | &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES-108.80% <br>(Cost $590,561,323) | &nbsp;&nbsp; 601079494 |
| OTHER ASSETS LESS LIABILITIES-(8.80)% | OTHER ASSETS LESS LIABILITIES-(8.80)% | &nbsp;&nbsp; (48637721)<br>|
| NET ASSETS-100.00% | NET ASSETS-100.00% | &nbsp;&nbsp; $552441773 |

---

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

---

| | |
|:---|:---|
| Notes to Schedule of Investments: | Notes to Schedule of Investments: |
| <sup>(a)</sup> | Industry and/or sector classifications used in this report are generally according to the Global Industry Classification Standard, which was developed by and is <br> the exclusive property and a service mark of MSCI Inc. and Standard & Poor's.<br>|
| <sup>(b)</sup> | All or a portion of this security was out on loan at July 31, 2025. |
| <sup>(c)</sup> | Non-income producing security. |
| <sup>(d)</sup> | Restricted security. The aggregate value of these securities at July 31, 2025 was $8,551,632, which represented 1.55% of the Fund's Net Assets. |
| <sup>(e)</sup> | Affiliated holding. Affiliated holdings are investments in entities which are under common ownership or control of Invesco Ltd. or are investments in entities in <br> which the Fund owns 5% or more of the outstanding voting securities. The table below shows the Fund's transactions in, and earnings from, its investments in <br> affiliates for the three months ended July 31, 2025.<br>|

---

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

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Value** <br>**April 30, 2025**<br>| **Purchases** <br>**at Cost**<br>| **Proceeds** <br>**from Sales**<br>| **Change in** <br>**Unrealized** <br>**Appreciation**<br>| **Realized** <br>**Gain** <br>**(Loss)**<br>| **Value** <br>**July 31, 2025**<br>| **Dividend Income** |
| **Investments in Affiliated** <br> **Money Market Funds:**<br>|  |  |  |  |  |  |  |
| &nbsp;&nbsp; Invesco Government & Agency <br> Portfolio, Institutional Class<br>| &nbsp;&nbsp;&nbsp; $541147 | &nbsp;&nbsp;&nbsp; $6182080 | &nbsp;&nbsp;&nbsp; $(6088801)<br>| &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $634426 | &nbsp;&nbsp;&nbsp; $4051 |
| **Investments Purchased with** <br> **Cash Collateral from** <br> **Securities on Loan:**<br>|  |  |  |  |  |  |  |
| &nbsp;&nbsp; Invesco Private Government <br> Fund<br>| &nbsp;&nbsp;&nbsp; 20800227 | &nbsp;&nbsp;&nbsp; 33765236 | &nbsp;&nbsp;&nbsp; (41070125)<br>| &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; 13495338 | &nbsp;&nbsp;&nbsp; 155,434<br> \*<br>|
| &nbsp;&nbsp; Invesco Private Prime Fund | &nbsp;&nbsp;&nbsp; 54108381 | &nbsp;&nbsp;&nbsp; 76284921 | &nbsp;&nbsp;&nbsp; (95373032)<br>| &nbsp;&nbsp;&nbsp; 2838 | &nbsp;&nbsp;&nbsp; (3013)<br>| &nbsp;&nbsp;&nbsp; 35020095 | &nbsp;&nbsp;&nbsp; 416,543<br> \*<br>|
| &nbsp;&nbsp; Total | &nbsp;&nbsp;&nbsp; $75449755 | &nbsp;&nbsp;&nbsp; $116232237 | &nbsp;&nbsp;&nbsp; $(142531958)<br>| &nbsp;&nbsp;&nbsp; $2838 | &nbsp;&nbsp;&nbsp; $(3013)<br>| &nbsp;&nbsp;&nbsp; $49149859 | &nbsp;&nbsp;&nbsp; $576028 |

---

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

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

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

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

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

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

------

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

**Invesco Zacks Mid-Cap ETF (CZA)**

July 31, 2025

*(Unaudited)*

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

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Common Stocks & Other Equity Interests-99.96%** | **Common Stocks & Other Equity Interests-99.96%** | **Common Stocks & Other Equity Interests-99.96%** |
| **Communication Services-1.33%** | **Communication Services-1.33%** | **Communication Services-1.33%** |
| Fox Corp., Class B | 46881 | &nbsp;&nbsp; $2397494 |
| **Consumer Discretionary-4.91%** | **Consumer Discretionary-4.91%** | **Consumer Discretionary-4.91%** |
| Churchill Downs, Inc. | 7452 | &nbsp;&nbsp; 797662 |
| Grand Canyon Education, Inc.<sup>(b)</sup> | 3031 | &nbsp;&nbsp; 511118 |
| Las Vegas Sands Corp. | 72406 | &nbsp;&nbsp; 3794074 |
| Levi Strauss & Co., Class A<sup>(c)</sup> | 40492 | &nbsp;&nbsp; 797288 |
| Penske Automotive Group, Inc.<sup>(c)</sup> | 6917 | &nbsp;&nbsp; 1157975 |
| Yum China Holdings, Inc. (China) | 37780 | &nbsp;&nbsp; 1763570 |
|  |  | &nbsp;&nbsp; 8821687 |
| **Consumer Staples-0.92%** | **Consumer Staples-0.92%** | **Consumer Staples-0.92%** |
| Performance Food Group Co.<sup>(b)</sup> | 16477 | &nbsp;&nbsp; 1654291 |
| **Financials-21.92%** | **Financials-21.92%** | **Financials-21.92%** |
| Arch Capital Group Ltd. | 39937 | &nbsp;&nbsp; 3436978 |
| Blue Owl Capital, Inc.<sup>(c)</sup> | 159458 | &nbsp;&nbsp; 3085512 |
| Brown & Brown, Inc. | 30315 | &nbsp;&nbsp; 2769882 |
| Cincinnati Financial Corp. | 16698 | &nbsp;&nbsp; 2463122 |
| CNA Financial Corp.<sup>(c)</sup> | 28360 | &nbsp;&nbsp; 1257199 |
| Corebridge Financial, Inc. | 57272 | &nbsp;&nbsp; 2036592 |
| Credicorp Ltd. (Peru) | 8439 | &nbsp;&nbsp; 2000043 |
| Enact Holdings, Inc.<sup>(c)</sup> | 15567 | &nbsp;&nbsp; 541109 |
| Essent Group Ltd. | 10530 | &nbsp;&nbsp; 589575 |
| Futu Holdings Ltd., ADR (Hong Kong) | 13441 | &nbsp;&nbsp; 2065613 |
| Hartford Insurance Group, Inc. (The) | 30474 | &nbsp;&nbsp; 3790661 |
| Popular, Inc. | 6964 | &nbsp;&nbsp; 797935 |
| Principal Financial Group, Inc. | 23544 | &nbsp;&nbsp; 1832429 |
| Prosperity Bancshares, Inc.<sup>(c)</sup> | 9814 | &nbsp;&nbsp; 653809 |
| State Street Corp. | 28724 | &nbsp;&nbsp; 3209907 |
| Unum Group | 18615 | &nbsp;&nbsp; 1336743 |
| Virtu Financial, Inc., Class A | 15987 | &nbsp;&nbsp; 705666 |
| Voya Financial, Inc.<sup>(c)</sup> | 9861 | &nbsp;&nbsp; 690270 |
| W.R. Berkley Corp. | 41105 | &nbsp;&nbsp; 2828435 |
| Willis Towers Watson PLC | 10467 | &nbsp;&nbsp; 3305583 |
|  |  | &nbsp;&nbsp; 39397063 |
| **Health Care-9.26%** | **Health Care-9.26%** | **Health Care-9.26%** |
| Agilent Technologies, Inc. | 29183 | &nbsp;&nbsp; 3350500 |
| Centene Corp.<sup>(b)</sup> | 53155 | &nbsp;&nbsp; 1385751 |
| Chemed Corp. | 1527 | &nbsp;&nbsp; 629582 |
| Encompass Health Corp. | 10460 | &nbsp;&nbsp; 1151751 |
| GE HealthCare Technologies, Inc. | 47308 | &nbsp;&nbsp; 3374007 |
| Globus Medical, Inc., Class A<sup>(b)</sup> | 14146 | &nbsp;&nbsp; 744504 |
| ICON PLC<sup>(b)</sup> | 8520 | &nbsp;&nbsp; 1441499 |
| Mettler-Toledo International, Inc.<sup>(b)</sup> | 2121 | &nbsp;&nbsp; 2616635 |
| Molina Healthcare, Inc.<sup>(b)</sup> | 5692 | &nbsp;&nbsp; 898596 |
| Option Care Health, Inc.<sup>(b)</sup> | 17065 | &nbsp;&nbsp; 500858 |
| Teleflex, Inc. | 4611 | &nbsp;&nbsp; 551014 |
|  |  | &nbsp;&nbsp; 16644697 |
| **Industrials-21.94%** | **Industrials-21.94%** | **Industrials-21.94%** |
| AerCap Holdings N.V. (Ireland) | 19833 | &nbsp;&nbsp; 2127089 |
| Air Lease Corp., Class A | 11673 | &nbsp;&nbsp; 646684 |
| Applied Industrial Technologies, Inc. | 4048 | &nbsp;&nbsp; 1099032 |
| Armstrong World Industries, Inc. | 4356 | &nbsp;&nbsp; 819669 |
| Dover Corp. | 14053 | &nbsp;&nbsp; 2545560 |
| ESAB Corp. | 6207 | &nbsp;&nbsp; 832793 |
| Fortive Corp. | 46262 | &nbsp;&nbsp; 2217338 |
| Graco, Inc. | 17297 | &nbsp;&nbsp; 1452602 |
| IDEX Corp. | 7876 | &nbsp;&nbsp; 1287805 |
| Ingersoll Rand, Inc. | 41070 | &nbsp;&nbsp; 3475754 |
| ITT, Inc. | 8057 | &nbsp;&nbsp; 1369368 |
| J.B. Hunt Transport Services, Inc. | 10197 | &nbsp;&nbsp; 1468878 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Industrials-(continued)** | **Industrials-(continued)** | **Industrials-(continued)** |
| Jacobs Solutions, Inc. | 12554 | &nbsp;&nbsp; $1781036 |
| Lincoln Electric Holdings, Inc. | 5706 | &nbsp;&nbsp; 1389411 |
| Owens Corning | 8662 | &nbsp;&nbsp; 1207743 |
| Pentair PLC | 16640 | &nbsp;&nbsp; 1700608 |
| Regal Rexnord Corp. | 6779 | &nbsp;&nbsp; 1036373 |
| SPX Technologies, Inc.<sup>(b)</sup> | 4693 | &nbsp;&nbsp; 855956 |
| TFI International, Inc. (Canada) | 8864 | &nbsp;&nbsp; 772675 |
| Veralto Corp. | 25261 | &nbsp;&nbsp; 2648111 |
| Wabtec Corp. | 17706 | &nbsp;&nbsp; 3400437 |
| Watts Water Technologies, Inc., Class A | 3450 | &nbsp;&nbsp; 905004 |
| Xylem, Inc. | 25060 | &nbsp;&nbsp; 3624177 |
| Zurn Elkay Water Solutions Corp. | 17303 | &nbsp;&nbsp; 765658 |
|  |  | &nbsp;&nbsp; 39429761 |
| **Information Technology-9.10%** | **Information Technology-9.10%** | **Information Technology-9.10%** |
| CDW Corp. | 13338 | &nbsp;&nbsp; 2325880 |
| F5, Inc.<sup>(b)</sup> | 5885 | &nbsp;&nbsp; 1844477 |
| Flex Ltd.<sup>(b)</sup> | 36834 | &nbsp;&nbsp; 1836912 |
| Keysight Technologies, Inc.<sup>(b)</sup> | 17630 | &nbsp;&nbsp; 2889733 |
| Littelfuse, Inc.<sup>(c)</sup> | 2521 | &nbsp;&nbsp; 648729 |
| &nbsp;&nbsp;&nbsp; Logitech International S.A., Class R <br> (Switzerland)<sup>(c)</sup><br>| 15723 | &nbsp;&nbsp; 1460352 |
| Teledyne Technologies, Inc.<sup>(b)</sup> | 4840 | &nbsp;&nbsp; 2666937 |
| Trimble, Inc.<sup>(b)</sup> | 24417 | &nbsp;&nbsp; 2048342 |
| Vontier Corp. | 15085 | &nbsp;&nbsp; 625575 |
|  |  | &nbsp;&nbsp; 16346937 |
| **Materials-10.54%** | **Materials-10.54%** | **Materials-10.54%** |
| AptarGroup, Inc. | 6776 | &nbsp;&nbsp; 1064781 |
| Axalta Coating Systems Ltd.<sup>(b)</sup> | 22501 | &nbsp;&nbsp; 637228 |
| Balchem Corp. | 3383 | &nbsp;&nbsp; 515806 |
| Ball Corp. | 28883 | &nbsp;&nbsp; 1653841 |
| DuPont de Nemours, Inc. | 42979 | &nbsp;&nbsp; 3090190 |
| Element Solutions, Inc.<sup>(c)</sup> | 24176 | &nbsp;&nbsp; 570554 |
| International Flavors & Fragrances, Inc. | 26811 | &nbsp;&nbsp; 1904385 |
| Nutrien Ltd. (Canada) | 53399 | &nbsp;&nbsp; 3167629 |
| Packaging Corp. of America | 9506 | &nbsp;&nbsp; 1841788 |
| PPG Industries, Inc. | 22981 | &nbsp;&nbsp; 2424495 |
| RPM International, Inc. | 13225 | &nbsp;&nbsp; 1552747 |
| Silgan Holdings, Inc. | 11114 | &nbsp;&nbsp; 517134 |
|  |  | &nbsp;&nbsp; 18940578 |
| **Real Estate-10.76%** | **Real Estate-10.76%** | **Real Estate-10.76%** |
| AvalonBay Communities, Inc. | 15447 | &nbsp;&nbsp; 2877467 |
| Camden Property Trust | 11477 | &nbsp;&nbsp; 1253288 |
| CubeSmart | 24088 | &nbsp;&nbsp; 937264 |
| EastGroup Properties, Inc. | 5644 | &nbsp;&nbsp; 921327 |
| Equity LifeStyle Properties, Inc. | 20217 | &nbsp;&nbsp; 1211403 |
| Equity Residential | 42132 | &nbsp;&nbsp; 2662742 |
| Extra Space Storage, Inc. | 22479 | &nbsp;&nbsp; 3020279 |
| Gaming and Leisure Properties, Inc. | 29059 | &nbsp;&nbsp; 1324509 |
| Healthpeak Properties, Inc. | 72113 | &nbsp;&nbsp; 1221594 |
| SBA Communications Corp., Class A | 11175 | &nbsp;&nbsp; 2511246 |
| UDR, Inc. | 35618 | &nbsp;&nbsp; 1399431 |
|  |  | &nbsp;&nbsp; 19340550 |
| **Utilities-9.28%** | **Utilities-9.28%** | **Utilities-9.28%** |
| American Water Works Co., Inc. | 20747 | &nbsp;&nbsp; 2909559 |
| Consolidated Edison, Inc. | 39124 | &nbsp;&nbsp; 4049334 |
| DTE Energy Co. | 22134 | &nbsp;&nbsp; 3063567 |

---

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

------

**Invesco Zacks Mid-Cap ETF (CZA)—(continued)**

July 31, 2025

*(Unaudited)*

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Utilities-(continued)** | **Utilities-(continued)** | **Utilities-(continued)** |
| Entergy Corp. | 45225 | &nbsp;&nbsp; $4089697 |
| Eversource Energy | 38817 | &nbsp;&nbsp; 2565804 |
|  |  | &nbsp;&nbsp; 16677961 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks & Other Equity Interests <br>(Cost $172,482,125) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks & Other Equity Interests <br>(Cost $172,482,125) | &nbsp;&nbsp; 179651019 |
| **Money Market Funds-0.13%** | **Money Market Funds-0.13%** | **Money Market Funds-0.13%** |
| &nbsp;&nbsp;&nbsp; Invesco Government & Agency Portfolio, <br> Institutional Class, 4.25%<sup>(d)(e)</sup> <br>(Cost $234,926)<br>| 234926 | &nbsp;&nbsp; 234926 |
| &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES <br>(excluding investments purchased with cash collateral <br> from securities on loan)-100.09% <br>(Cost $172,717,051) | &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES <br>(excluding investments purchased with cash collateral <br> from securities on loan)-100.09% <br>(Cost $172,717,051) | &nbsp;&nbsp; 179885945 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Investments Purchased with Cash Collateral from Securities** <br> **on Loan** | **Investments Purchased with Cash Collateral from Securities** <br> **on Loan** | **Investments Purchased with Cash Collateral from Securities** <br> **on Loan** |
| **Money Market Funds-5.01%** | **Money Market Funds-5.01%** | **Money Market Funds-5.01%** |
| &nbsp;&nbsp;&nbsp; Invesco Private Government Fund, <br> 4.32%<sup>(d)(e)(f)</sup><br>| 2492474 | &nbsp;&nbsp; $2492474 |
| Invesco Private Prime Fund, 4.46%<sup>(d)(e)(f)</sup> | 6499314 | &nbsp;&nbsp; 6500614 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Investments Purchased with Cash Collateral from <br> Securities on Loan <br>(Cost $8,993,088) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Investments Purchased with Cash Collateral from <br> Securities on Loan <br>(Cost $8,993,088) | &nbsp;&nbsp; 8993088 |
| &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES-105.10% <br>(Cost $181,710,139) | &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES-105.10% <br>(Cost $181,710,139) | &nbsp;&nbsp; 188879033 |
| OTHER ASSETS LESS LIABILITIES-(5.10)% | OTHER ASSETS LESS LIABILITIES-(5.10)% | &nbsp;&nbsp; (9161584)<br>|
| NET ASSETS-100.00% | NET ASSETS-100.00% | &nbsp;&nbsp; $179717449 |

---

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

Investment Abbreviations: <br> ADR -American Depositary Receipt

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

---

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

---

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

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Value** <br>**April 30, 2025**<br>| **Purchases** <br>**at Cost**<br>| **Proceeds** <br>**from Sales**<br>| **Change in** <br>**Unrealized** <br>**Appreciation**<br>| **Realized** <br>**Gain** <br>**(Loss)**<br>| **Value** <br>**July 31, 2025**<br>| **Dividend Income** |
| &nbsp;&nbsp; Invesco Ltd. | &nbsp;&nbsp;&nbsp; $697949 | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $(827052)<br>| &nbsp;&nbsp;&nbsp; $127715 | &nbsp;&nbsp;&nbsp; $1388 | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $10522 |
| **Investments in Affiliated Money** <br> **Market Funds:**<br>|  |  |  |  |  |  |  |
| &nbsp;&nbsp; Invesco Government & Agency <br> Portfolio, Institutional Class<br>| &nbsp;&nbsp;&nbsp; 271525 | &nbsp;&nbsp;&nbsp; 842670 | &nbsp;&nbsp;&nbsp; (879269)<br>| &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; 234926 | &nbsp;&nbsp;&nbsp; 1659 |
| **Investments Purchased with** <br> **Cash Collateral from Securities** <br> **on Loan:**<br>|  |  |  |  |  |  |  |
| &nbsp;&nbsp; Invesco Private Government Fund | &nbsp;&nbsp;&nbsp; 2187176 | &nbsp;&nbsp;&nbsp; 13884020 | &nbsp;&nbsp;&nbsp; (13578722)<br>| &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; 2492474 | &nbsp;&nbsp;&nbsp; 28,413<br> \*<br>|
| &nbsp;&nbsp; Invesco Private Prime Fund | &nbsp;&nbsp;&nbsp; 5676467 | &nbsp;&nbsp;&nbsp; 28934285 | &nbsp;&nbsp;&nbsp; (28110217)<br>| &nbsp;&nbsp;&nbsp; 110 | &nbsp;&nbsp;&nbsp; (31)<br>| &nbsp;&nbsp;&nbsp; 6500614 | &nbsp;&nbsp;&nbsp; 77,939<br> \*<br>|
| &nbsp;&nbsp; Total | &nbsp;&nbsp;&nbsp; $8833117 | &nbsp;&nbsp;&nbsp; $43660975 | &nbsp;&nbsp;&nbsp; $(43395260)<br>| &nbsp;&nbsp;&nbsp; $127825 | &nbsp;&nbsp;&nbsp; $1357 | &nbsp;&nbsp;&nbsp; $9228014 | &nbsp;&nbsp;&nbsp; $118533 |

---

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

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

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

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

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

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

------

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

**Invesco Zacks Multi-Asset Income ETF (CVY)**

July 31, 2025

*(Unaudited)*

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

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Common Stocks & Other Equity Interests-79.85%** | **Common Stocks & Other Equity Interests-79.85%** | **Common Stocks & Other Equity Interests-79.85%** |
| **Communication Services-2.98%** | **Communication Services-2.98%** | **Communication Services-2.98%** |
| Autohome, Inc., ADR (China) | 34350 | &nbsp;&nbsp; $930542 |
| JOYY, Inc., ADR (China) | 23747 | &nbsp;&nbsp; 1192099 |
| SK Telecom Co. Ltd., ADR (South Korea) | 40228 | &nbsp;&nbsp; 892659 |
| TEGNA, Inc. | 21416 | &nbsp;&nbsp; 357647 |
|  |  | &nbsp;&nbsp; 3372947 |
| **Consumer Discretionary-6.17%** | **Consumer Discretionary-6.17%** | **Consumer Discretionary-6.17%** |
| Build-A-Bear Workshop, Inc.<sup>(b)</sup> | 8545 | &nbsp;&nbsp; 433317 |
| Century Communities, Inc. | 6588 | &nbsp;&nbsp; 370839 |
| Garrett Motion, Inc. (Switzerland)<sup>(b)</sup> | 32294 | &nbsp;&nbsp; 421114 |
| Harley-Davidson, Inc.<sup>(b)</sup> | 29487 | &nbsp;&nbsp; 717419 |
| La-Z-Boy, Inc.<sup>(b)</sup> | 8430 | &nbsp;&nbsp; 303227 |
| Lear Corp.<sup>(b)</sup> | 7912 | &nbsp;&nbsp; 746022 |
| Leggett & Platt, Inc.<sup>(b)</sup> | 40607 | &nbsp;&nbsp; 387797 |
| Meritage Homes Corp. | 11070 | &nbsp;&nbsp; 745454 |
| Penske Automotive Group, Inc.<sup>(b)</sup> | 4439 | &nbsp;&nbsp; 743133 |
| PHINIA, Inc. | 8245 | &nbsp;&nbsp; 418021 |
| Shoe Carnival, Inc. | 19001 | &nbsp;&nbsp; 388760 |
| Signet Jewelers Ltd. | 16518 | &nbsp;&nbsp; 1306574 |
|  |  | &nbsp;&nbsp; 6981677 |
| **Consumer Staples-1.29%** | **Consumer Staples-1.29%** | **Consumer Staples-1.29%** |
| Edgewell Personal Care Co.<sup>(b)</sup> | 12981 | &nbsp;&nbsp; 327511 |
| Kroger Co. (The) | 16173 | &nbsp;&nbsp; 1133727 |
|  |  | &nbsp;&nbsp; 1461238 |
| **Energy-24.80%** | **Energy-24.80%** | **Energy-24.80%** |
| Alliance Resource Partners L.P. | 46582 | &nbsp;&nbsp; 1233491 |
| Black Stone Minerals L.P. | 93678 | &nbsp;&nbsp; 1173785 |
| Cenovus Energy, Inc. (Canada) | 80783 | &nbsp;&nbsp; 1230325 |
| Devon Energy Corp. | 34994 | &nbsp;&nbsp; 1162501 |
| Dorchester Minerals L.P. | 43806 | &nbsp;&nbsp; 1200284 |
| Energy Transfer L.P. | 47108 | &nbsp;&nbsp; 849828 |
| Enterprise Products Partners L.P. | 24406 | &nbsp;&nbsp; 756342 |
| EOG Resources, Inc. | 9861 | &nbsp;&nbsp; 1183517 |
| Equinor ASA, ADR (Norway) | 26586 | &nbsp;&nbsp; 684590 |
| Genesis Energy L.P. | 29873 | &nbsp;&nbsp; 518595 |
| Global Partners L.P. | 13137 | &nbsp;&nbsp; 689693 |
| Halliburton Co. | 54922 | &nbsp;&nbsp; 1230253 |
| Imperial Oil Ltd. (Canada)<sup>(b)</sup> | 5034 | &nbsp;&nbsp; 420188 |
| Liberty Energy, Inc., Class A | 61591 | &nbsp;&nbsp; 760033 |
| Magnolia Oil & Gas Corp., Class A | 32939 | &nbsp;&nbsp; 784607 |
| Marathon Petroleum Corp. | 6756 | &nbsp;&nbsp; 1149804 |
| Matador Resources Co. | 24835 | &nbsp;&nbsp; 1238770 |
| MPLX L.P. | 16798 | &nbsp;&nbsp; 881895 |
| NOV, Inc.<sup>(b)</sup> | 60292 | &nbsp;&nbsp; 758473 |
| Ovintiv, Inc. | 30024 | &nbsp;&nbsp; 1236388 |
| Peabody Energy Corp.<sup>(b)</sup> | 50460 | &nbsp;&nbsp; 814929 |
| Permian Resources Corp. | 85502 | &nbsp;&nbsp; 1210708 |
| Plains All American Pipeline L.P. | 60683 | &nbsp;&nbsp; 1107465 |
| Scorpio Tankers, Inc. (Monaco) | 17780 | &nbsp;&nbsp; 803834 |
| Shell PLC, ADR (United Kingdom)<sup>(b)</sup> | 8298 | &nbsp;&nbsp; 599199 |
| SM Energy Co. | 30578 | &nbsp;&nbsp; 843647 |
| Sunoco L.P. | 12935 | &nbsp;&nbsp; 715435 |
| Teekay Tankers Ltd., Class A (Canada)<sup>(b)</sup> | 8556 | &nbsp;&nbsp; 362347 |
| Tenaris S.A., ADR<sup>(b)</sup> | 12501 | &nbsp;&nbsp; 436785 |
| Weatherford International PLC | 15964 | &nbsp;&nbsp; 902764 |
| Western Midstream Partners L.P. | 27425 | &nbsp;&nbsp; 1117020 |
|  |  | &nbsp;&nbsp; 28057495 |
| **Financials-25.12%** | **Financials-25.12%** | **Financials-25.12%** |
| Allstate Corp. (The) | 5274 | &nbsp;&nbsp; 1071940 |
| Annaly Capital Management, Inc.<sup>(b)</sup> | 57731 | &nbsp;&nbsp; 1173671 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Financials-(continued)** | **Financials-(continued)** | **Financials-(continued)** |
| &nbsp;&nbsp;&nbsp; Apollo Commercial Real Estate Finance, <br> Inc.<sup>(b)</sup><br>| 16483 | &nbsp;&nbsp; $158565 |
| &nbsp;&nbsp;&nbsp; Banco Bilbao Vizcaya Argentaria S.A., ADR <br> (Spain)<br>| 41914 | &nbsp;&nbsp; 701221 |
| Banco de Chile, ADR (Chile)<sup>(b)</sup> | 20996 | &nbsp;&nbsp; 573611 |
| Bank OZK | 16017 | &nbsp;&nbsp; 789638 |
| Blackstone Mortgage Trust, Inc., Class A<sup>(b)</sup> | 24859 | &nbsp;&nbsp; 459394 |
| BOK Financial Corp.<sup>(b)</sup> | 3835 | &nbsp;&nbsp; 389368 |
| Corebridge Financial, Inc. | 33701 | &nbsp;&nbsp; 1198408 |
| Dynex Capital, Inc. | 59155 | &nbsp;&nbsp; 735888 |
| East West Bancorp, Inc. | 11876 | &nbsp;&nbsp; 1190569 |
| Ellington Financial, Inc. | 17560 | &nbsp;&nbsp; 222836 |
| Enact Holdings, Inc. | 10200 | &nbsp;&nbsp; 354552 |
| Essent Group Ltd. | 12445 | &nbsp;&nbsp; 696796 |
| Everest Group Ltd. | 3180 | &nbsp;&nbsp; 1067844 |
| F&G Annuities & Life, Inc.<sup>(b)</sup> | 11309 | &nbsp;&nbsp; 360870 |
| First Bancorp | 17655 | &nbsp;&nbsp; 367754 |
| Hancock Whitney Corp. | 13051 | &nbsp;&nbsp; 779406 |
| Hanover Insurance Group, Inc. (The) | 4231 | &nbsp;&nbsp; 726167 |
| ING Groep N.V., ADR (Netherlands) | 39437 | &nbsp;&nbsp; 921248 |
| International Bancshares Corp. | 5697 | &nbsp;&nbsp; 388421 |
| Jackson Financial, Inc., Class A | 8655 | &nbsp;&nbsp; 757832 |
| JPMorgan Chase & Co. | 4122 | &nbsp;&nbsp; 1221101 |
| Kemper Corp. | 5724 | &nbsp;&nbsp; 352541 |
| Lincoln National Corp.<sup>(b)</sup> | 21724 | &nbsp;&nbsp; 827902 |
| &nbsp;&nbsp;&nbsp; Lloyds Banking Group PLC, ADR (United <br> Kingdom)<sup>(b)</sup><br>| 155088 | &nbsp;&nbsp; 654471 |
| MetLife, Inc. | 13884 | &nbsp;&nbsp; 1054490 |
| MGIC Investment Corp. | 27372 | &nbsp;&nbsp; 708935 |
| &nbsp;&nbsp;&nbsp; NatWest Group PLC, ADR (United <br> Kingdom)<sup>(b)</sup><br>| 52740 | &nbsp;&nbsp; 737305 |
| OFG Bancorp | 8627 | &nbsp;&nbsp; 367683 |
| Popular, Inc. | 6981 | &nbsp;&nbsp; 799883 |
| Qifu Technology, Inc., ADR (China)<sup>(b)</sup> | 9552 | &nbsp;&nbsp; 327920 |
| Radian Group, Inc.<sup>(b)</sup> | 21318 | &nbsp;&nbsp; 695180 |
| Synchrony Financial | 18577 | &nbsp;&nbsp; 1294260 |
| Two Harbors Investment Corp.<sup>(b)</sup> | 23392 | &nbsp;&nbsp; 228072 |
| Unum Group | 13423 | &nbsp;&nbsp; 963906 |
| Voya Financial, Inc. | 10839 | &nbsp;&nbsp; 758730 |
| Wells Fargo & Co. | 14823 | &nbsp;&nbsp; 1195178 |
| Western Alliance Bancorporation | 14779 | &nbsp;&nbsp; 1146259 |
|  |  | &nbsp;&nbsp; 28419815 |
| **Health Care-3.31%** | **Health Care-3.31%** | **Health Care-3.31%** |
| Cigna Group (The) | 3481 | &nbsp;&nbsp; 930750 |
| Royalty Pharma PLC, Class A | 33552 | &nbsp;&nbsp; 1234714 |
| &nbsp;&nbsp;&nbsp; Takeda Pharmaceutical Co. Ltd., ADR <br> (Japan)<sup>(b)</sup><br>| 33874 | &nbsp;&nbsp; 464751 |
| Viatris, Inc. | 127546 | &nbsp;&nbsp; 1114752 |
|  |  | &nbsp;&nbsp; 3744967 |
| **Industrials-4.39%** | **Industrials-4.39%** | **Industrials-4.39%** |
| ABM Industries, Inc. | 6912 | &nbsp;&nbsp; 318851 |
| Concentrix Corp.<sup>(b)</sup> | 12664 | &nbsp;&nbsp; 658148 |
| Greenbrier Cos., Inc. (The)<sup>(b)</sup> | 8002 | &nbsp;&nbsp; 364091 |
| Hillenbrand, Inc.<sup>(b)</sup> | 18324 | &nbsp;&nbsp; 379490 |
| Korn Ferry<sup>(b)</sup> | 5305 | &nbsp;&nbsp; 375966 |
| Oshkosh Corp. | 7242 | &nbsp;&nbsp; 916330 |
| Owens Corning | 7935 | &nbsp;&nbsp; 1106377 |
| Ryder System, Inc. | 4782 | &nbsp;&nbsp; 849809 |
|  |  | &nbsp;&nbsp; 4969062 |

---

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

------

**Invesco Zacks Multi-Asset Income ETF (CVY)—(continued)**

July 31, 2025

*(Unaudited)*

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Materials-3.38%** | **Materials-3.38%** | **Materials-3.38%** |
| Cabot Corp. | 4779 | &nbsp;&nbsp; $344948 |
| CF Industries Holdings, Inc. | 11984 | &nbsp;&nbsp; 1112475 |
| Graphic Packaging Holding Co.<sup>(b)</sup> | 31763 | &nbsp;&nbsp; 710220 |
| Methanex Corp. (Canada) | 10763 | &nbsp;&nbsp; 359915 |
| Sylvamo Corp. | 6554 | &nbsp;&nbsp; 301943 |
| Vale S.A., ADR (Brazil)<sup>(b)</sup> | 104798 | &nbsp;&nbsp; 998725 |
|  |  | &nbsp;&nbsp; 3828226 |
| **Real Estate-6.82%** | **Real Estate-6.82%** | **Real Estate-6.82%** |
| American Homes 4 Rent, Class A | 29093 | &nbsp;&nbsp; 1009236 |
| EPR Properties | 10773 | &nbsp;&nbsp; 592946 |
| Essential Properties Realty Trust, Inc. | 27318 | &nbsp;&nbsp; 832926 |
| Invitation Homes, Inc. | 32742 | &nbsp;&nbsp; 1003542 |
| Medical Properties Trust, Inc.<sup>(b)</sup> | 186112 | &nbsp;&nbsp; 766781 |
| Mid-America Apartment Communities, Inc. | 7087 | &nbsp;&nbsp; 1009401 |
| NETSTREIT Corp.<sup>(b)</sup> | 13498 | &nbsp;&nbsp; 246069 |
| Ventas, Inc. | 16865 | &nbsp;&nbsp; 1132991 |
| W.P. Carey, Inc.<sup>(b)</sup> | 17493 | &nbsp;&nbsp; 1122351 |
|  |  | &nbsp;&nbsp; 7716243 |
| **Utilities-1.59%** | **Utilities-1.59%** | **Utilities-1.59%** |
| Cia Energetica de Minas Gerais, ADR (Brazil) | 574528 | &nbsp;&nbsp; 1039896 |
| Suburban Propane Partners L.P. | 40211 | &nbsp;&nbsp; 757173 |
|  |  | &nbsp;&nbsp; 1797069 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks & Other Equity Interests <br>(Cost $80,513,393) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks & Other Equity Interests <br>(Cost $80,513,393) | &nbsp;&nbsp; 90348739 |
| **Closed-End Funds-10.00%** | **Closed-End Funds-10.00%** | **Closed-End Funds-10.00%** |
| abrdn Income Credit Strategies Fund<sup>(b)</sup> | 135873 | &nbsp;&nbsp; 808444 |
| Allspring Income Opportunities Fund | 46379 | &nbsp;&nbsp; 326972 |
| &nbsp;&nbsp;&nbsp; Barings Global Short Duration High Yield <br> Fund<br>| 23973 | &nbsp;&nbsp; 376857 |
| &nbsp;&nbsp;&nbsp; Blackstone Strategic Credit 2027 Term <br> Fund<sup>(b)</sup><br>| 39645 | &nbsp;&nbsp; 491994 |
| DoubleLine Yield Opportunities Fund<sup>(b)</sup> | 30552 | &nbsp;&nbsp; 470195 |
| &nbsp;&nbsp;&nbsp; Flaherty & Crumrine Preferred & Income <br> Securities Fund, Inc.<br>| 20992 | &nbsp;&nbsp; 343009 |
| FS Credit Opportunities Corp.<sup>(b)</sup> | 172473 | &nbsp;&nbsp; 1284924 |
| &nbsp;&nbsp;&nbsp; Morgan Stanley Emerging Markets Domestic <br> Debt Fund, Inc.<br>| 47933 | &nbsp;&nbsp; 244938 |
| Nuveen Credit Strategies Income Fund | 232235 | &nbsp;&nbsp; 1284259 |
| Nuveen Floating Rate Income Fund | 114108 | &nbsp;&nbsp; 972200 |
| &nbsp;&nbsp;&nbsp; Nuveen Preferred & Income Opportunities <br> Fund<sup>(b)</sup><br>| 154270 | &nbsp;&nbsp; 1244959 |
| Nuveen Taxable Municipal Income Fund | 10978 | &nbsp;&nbsp; 172355 |
| PGIM High Yield Bond Fund, Inc. | 20572 | &nbsp;&nbsp; 295002 |
| Saba Capital Income & Opportunities Fund | 29143 | &nbsp;&nbsp; 245093 |
| Tortoise Energy Infrastructure Corp. | 15947 | &nbsp;&nbsp; 691143 |
| Western Asset Diversified Income Fund<sup>(b)</sup> | 41223 | &nbsp;&nbsp; 615047 |
| &nbsp;&nbsp;&nbsp; Western Asset Emerging Markets Debt Fund, <br> Inc.<br>| 39296 | &nbsp;&nbsp; 397282 |
| Western Asset High Income Fund II, Inc. | 70795 | &nbsp;&nbsp; 300171 |
| &nbsp;&nbsp;&nbsp; Western Asset High Income Opportunity <br> Fund, Inc.<br>| 69082 | &nbsp;&nbsp; 273565 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| &nbsp;&nbsp;&nbsp; Western Asset Inflation-Linked Opportunities <br> & Income Fund<br>| 54658 | &nbsp;&nbsp; $479351 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Closed-End Funds <br>(Cost $10,835,658) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Closed-End Funds <br>(Cost $10,835,658) | &nbsp;&nbsp; 11317760 |
| **Preferred Stocks-9.97%** | **Preferred Stocks-9.97%** | **Preferred Stocks-9.97%** |
| **Communication Services-1.10%** | **Communication Services-1.10%** | **Communication Services-1.10%** |
| AT&T, Inc., Series C, Pfd., 4.75% | 63734 | &nbsp;&nbsp; 1242813 |
| **Financials-8.87%** | **Financials-8.87%** | **Financials-8.87%** |
| &nbsp;&nbsp;&nbsp; Bank of America Corp., Series QQ, Pfd., <br> 4.25%<br>| 71895 | &nbsp;&nbsp; 1268228 |
| Citizens Financial Group, Inc., Pfd., 7.38% | 13241 | &nbsp;&nbsp; 350489 |
| &nbsp;&nbsp;&nbsp; JPMorgan Chase & Co., Series JJ, Pfd., <br> 4.55%<sup>(b)</sup><br>| 64480 | &nbsp;&nbsp; 1247688 |
| &nbsp;&nbsp;&nbsp; JPMorgan Chase & Co., Series LL, Pfd., <br> 4.63%<br>| 63230 | &nbsp;&nbsp; 1246263 |
| M&T Bank Corp., Series J, Pfd., 7.50% | 24936 | &nbsp;&nbsp; 674020 |
| Morgan Stanley, Series K, Pfd., 5.85% | 43084 | &nbsp;&nbsp; 1026261 |
| Morgan Stanley, Series P, Pfd., 6.50% | 23806 | &nbsp;&nbsp; 609434 |
| Regions Financial Corp., Pfd., 6.95%<sup>(c)</sup> | 24625 | &nbsp;&nbsp; 628430 |
| Wells Fargo & Co., Series Z, Pfd., 4.75% | 64108 | &nbsp;&nbsp; 1236002 |
| Wells Fargo & Co., Series AA, Pfd., 4.70% | 47553 | &nbsp;&nbsp; 908738 |
| Wells Fargo & Co., Series CC, Pfd., 4.38% | 46837 | &nbsp;&nbsp; 840724 |
|  |  | &nbsp;&nbsp; 10036277 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Preferred Stocks <br>(Cost $11,527,508) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Preferred Stocks <br>(Cost $11,527,508) | &nbsp;&nbsp; 11279090 |
| **Money Market Funds-0.08%** | **Money Market Funds-0.08%** | **Money Market Funds-0.08%** |
| &nbsp;&nbsp;&nbsp; Invesco Government & Agency Portfolio, <br> Institutional Class, 4.25%<sup>(d)(e)</sup> <br>(Cost $89,174)<br>| 89174 | &nbsp;&nbsp; 89174 |
| &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES <br>(excluding investments purchased with cash collateral <br> from securities on loan)-99.90% <br>(Cost $102,965,733) | &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES <br>(excluding investments purchased with cash collateral <br> from securities on loan)-99.90% <br>(Cost $102,965,733) | &nbsp;&nbsp; 113034763 |
| **Investments Purchased with Cash Collateral from Securities** <br> **on Loan** | **Investments Purchased with Cash Collateral from Securities** <br> **on Loan** | **Investments Purchased with Cash Collateral from Securities** <br> **on Loan** |
| **Money Market Funds-13.29%** | **Money Market Funds-13.29%** | **Money Market Funds-13.29%** |
| &nbsp;&nbsp;&nbsp; Invesco Private Government Fund, <br> 4.32%<sup>(d)(e)(f)</sup><br>| 4176579 | &nbsp;&nbsp; 4176579 |
| Invesco Private Prime Fund, 4.46%<sup>(d)(e)(f)</sup> | 10856543 | &nbsp;&nbsp; 10858714 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Investments Purchased with Cash Collateral from <br> Securities on Loan <br>(Cost $15,035,313) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Investments Purchased with Cash Collateral from <br> Securities on Loan <br>(Cost $15,035,313) | &nbsp;&nbsp; 15035293 |
| &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES-113.19% <br>(Cost $118,001,046) | &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES-113.19% <br>(Cost $118,001,046) | &nbsp;&nbsp; 128070056 |
| OTHER ASSETS LESS LIABILITIES-(13.19)% | OTHER ASSETS LESS LIABILITIES-(13.19)% | &nbsp;&nbsp; (14923345)<br>|
| NET ASSETS-100.00% | NET ASSETS-100.00% | &nbsp;&nbsp; $113146711 |

---

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

------

**Invesco Zacks Multi-Asset Income ETF (CVY)—(continued)**

July 31, 2025

*(Unaudited)*

Investment Abbreviations: <br> ADR -American Depositary Receipt <br> Pfd. -Preferred

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

---

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

---

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

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Value** <br>**April 30, 2025**<br>| **Purchases** <br>**at Cost**<br>| **Proceeds** <br>**from Sales**<br>| **Change in** <br>**Unrealized** <br>**Appreciation**<br>| **Realized** <br>**Gain** <br>**(Loss)**<br>| **Value** <br>**July 31, 2025**<br>| **Dividend Income** |
| **Investments in Affiliated Money** <br> **Market Funds:**<br>|  |  |  |  |  |  |  |
| &nbsp;&nbsp; Invesco Government & Agency <br> Portfolio, Institutional Class<br>| &nbsp;&nbsp;&nbsp; $41902 | &nbsp;&nbsp;&nbsp; $1863598 | &nbsp;&nbsp;&nbsp; $(1816326)<br>| &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $89174 | &nbsp;&nbsp;&nbsp; $1231 |
| **Investments Purchased with** <br> **Cash Collateral from Securities** <br> **on Loan:**<br>|  |  |  |  |  |  |  |
| &nbsp;&nbsp; Invesco Private Government Fund | &nbsp;&nbsp;&nbsp; 5331054 | &nbsp;&nbsp;&nbsp; 13879819 | &nbsp;&nbsp;&nbsp; (15034294)<br>| &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; 4176579 | &nbsp;&nbsp;&nbsp; 48,529<br> \*<br>|
| &nbsp;&nbsp; Invesco Private Prime Fund | &nbsp;&nbsp;&nbsp; 13870132 | &nbsp;&nbsp;&nbsp; 28155634 | &nbsp;&nbsp;&nbsp; (31167032)<br>| &nbsp;&nbsp;&nbsp; 737 | &nbsp;&nbsp;&nbsp; (757)<br>| &nbsp;&nbsp;&nbsp; 10858714 | &nbsp;&nbsp;&nbsp; 133,025<br> \*<br>|
| &nbsp;&nbsp; Total | &nbsp;&nbsp;&nbsp; $19243088 | &nbsp;&nbsp;&nbsp; $43899051 | &nbsp;&nbsp;&nbsp; $(48017652)<br>| &nbsp;&nbsp;&nbsp; $737 | &nbsp;&nbsp;&nbsp; $(757)<br>| &nbsp;&nbsp;&nbsp; $15124467 | &nbsp;&nbsp;&nbsp; $182785 |

---

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

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

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

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

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

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

------

**Notes to Quarterly Schedules of Portfolio Holdings**

July 31, 2025

*(Unaudited)*

**NOTE 1—Additional Valuation Information**

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

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

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

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

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Level 1** | **Level 2** | **Level 3** | **Total** |
| &nbsp;&nbsp; Invesco Large Cap Growth ETF |  |  |  |  |
| **Investments in Securities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Common Stocks & Other Equity Interests | &nbsp;&nbsp;&nbsp; $1235610577 | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $1235610577 |
| &nbsp;&nbsp;&nbsp; Money Market Funds | &nbsp;&nbsp;&nbsp; 943994 | &nbsp;&nbsp;&nbsp; 4521204 | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; 5465198 |
| **Total Investments** | &nbsp;&nbsp;&nbsp; $1236554571 | &nbsp;&nbsp;&nbsp; $4521204 | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $1241075775 |
| &nbsp;&nbsp; Invesco Large Cap Value ETF |  |  |  |  |
| **Investments in Securities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Common Stocks & Other Equity Interests | &nbsp;&nbsp;&nbsp; $1124284728 | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $1124284728 |
| &nbsp;&nbsp;&nbsp; Money Market Funds | &nbsp;&nbsp;&nbsp; 1047158 | &nbsp;&nbsp;&nbsp; 1559782 | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; 2606940 |
| **Total Investments** | &nbsp;&nbsp;&nbsp; $1125331886 | &nbsp;&nbsp;&nbsp; $1559782 | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $1126891668 |
| &nbsp;&nbsp; Invesco S&P 100 Equal Weight ETF |  |  |  |  |
| **Investments in Securities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Common Stocks & Other Equity Interests | &nbsp;&nbsp;&nbsp; $1571618582 | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $1571618582 |
| &nbsp;&nbsp;&nbsp; Money Market Funds | &nbsp;&nbsp;&nbsp; 463644 | &nbsp;&nbsp;&nbsp; 10496671 | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; 10960315 |
| **Total Investments** | &nbsp;&nbsp;&nbsp; $1572082226 | &nbsp;&nbsp;&nbsp; $10496671 | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $1582578897 |
| &nbsp;&nbsp; Invesco S&P 500 GARP ETF |  |  |  |  |
| **Investments in Securities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Common Stocks & Other Equity Interests | &nbsp;&nbsp;&nbsp; $2735351562 | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $2735351562 |
| &nbsp;&nbsp;&nbsp; Money Market Funds | &nbsp;&nbsp;&nbsp; 1616361 | &nbsp;&nbsp;&nbsp; 122303699 | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; 123920060 |
| **Total Investments** | &nbsp;&nbsp;&nbsp; $2736967923 | &nbsp;&nbsp;&nbsp; $122303699 | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $2859271622 |
| &nbsp;&nbsp; Invesco S&P 500 Value with Momentum ETF |  |  |  |  |
| **Investments in Securities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Common Stocks & Other Equity Interests | &nbsp;&nbsp;&nbsp; $62909249 | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $62909249 |
| &nbsp;&nbsp;&nbsp; Money Market Funds | &nbsp;&nbsp;&nbsp; 74409 | &nbsp;&nbsp;&nbsp; 5249898 | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; 5324307 |
| **Total Investments** | &nbsp;&nbsp;&nbsp; $62983658 | &nbsp;&nbsp;&nbsp; $5249898 | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $68233556 |

---

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Level 1** | **Level 2** | **Level 3** | **Total** |
| &nbsp;&nbsp; Invesco S&P MidCap Momentum ETF |  |  |  |  |
| **Investments in Securities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Common Stocks & Other Equity Interests | &nbsp;&nbsp;&nbsp; $4179518679 | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $4179518679 |
| &nbsp;&nbsp;&nbsp; Money Market Funds | &nbsp;&nbsp;&nbsp; 2461053 | &nbsp;&nbsp;&nbsp; 213425249 | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; 215886302 |
| **Total Investments** | &nbsp;&nbsp;&nbsp; $4181979732 | &nbsp;&nbsp;&nbsp; $213425249 | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $4395404981 |
| &nbsp;&nbsp; Invesco S&P MidCap Quality ETF |  |  |  |  |
| **Investments in Securities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Common Stocks & Other Equity Interests | &nbsp;&nbsp;&nbsp; $4859422929 | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $4859422929 |
| &nbsp;&nbsp;&nbsp; Money Market Funds | &nbsp;&nbsp;&nbsp; 5102365 | &nbsp;&nbsp;&nbsp; 627155668 | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; 632258033 |
| **Total Investments** | &nbsp;&nbsp;&nbsp; $4864525294 | &nbsp;&nbsp;&nbsp; $627155668 | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $5491680962 |
| &nbsp;&nbsp; Invesco S&P MidCap Value with Momentum ETF |  |  |  |  |
| **Investments in Securities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Common Stocks & Other Equity Interests | &nbsp;&nbsp;&nbsp; $263539002 | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $263539002 |
| &nbsp;&nbsp;&nbsp; Money Market Funds | &nbsp;&nbsp;&nbsp; 270939 | &nbsp;&nbsp;&nbsp; 47908335 | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; 48179274 |
| **Total Investments** | &nbsp;&nbsp;&nbsp; $263809941 | &nbsp;&nbsp;&nbsp; $47908335 | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $311718276 |
| &nbsp;&nbsp; Invesco S&P SmallCap Momentum ETF |  |  |  |  |
| **Investments in Securities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Common Stocks & Other Equity Interests | &nbsp;&nbsp;&nbsp; $1736659199 | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $1736659199 |
| &nbsp;&nbsp;&nbsp; Money Market Funds | &nbsp;&nbsp;&nbsp; 1939990 | &nbsp;&nbsp;&nbsp; 217841099 | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; 219781089 |
| **Total Investments** | &nbsp;&nbsp;&nbsp; $1738599189 | &nbsp;&nbsp;&nbsp; $217841099 | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $1956440288 |
| &nbsp;&nbsp; Invesco S&P SmallCap Value with Momentum ETF |  |  |  |  |
| **Investments in Securities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Common Stocks & Other Equity Interests | &nbsp;&nbsp;&nbsp; $551929635 | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $551929635 |
| &nbsp;&nbsp;&nbsp; Money Market Funds | &nbsp;&nbsp;&nbsp; 634426 | &nbsp;&nbsp;&nbsp; 48515433 | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; 49149859 |
| **Total Investments** | &nbsp;&nbsp;&nbsp; $552564061 | &nbsp;&nbsp;&nbsp; $48515433 | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $601079494 |
| &nbsp;&nbsp; Invesco Zacks Mid-Cap ETF |  |  |  |  |
| **Investments in Securities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Common Stocks & Other Equity Interests | &nbsp;&nbsp;&nbsp; $179651019 | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $179651019 |
| &nbsp;&nbsp;&nbsp; Money Market Funds | &nbsp;&nbsp;&nbsp; 234926 | &nbsp;&nbsp;&nbsp; 8993088 | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; 9228014 |
| **Total Investments** | &nbsp;&nbsp;&nbsp; $179885945 | &nbsp;&nbsp;&nbsp; $8993088 | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $188879033 |
| &nbsp;&nbsp; Invesco Zacks Multi-Asset Income ETF |  |  |  |  |
| **Investments in Securities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Common Stocks & Other Equity Interests | &nbsp;&nbsp;&nbsp; $90348739 | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $90348739 |
| &nbsp;&nbsp;&nbsp; Closed-End Funds | &nbsp;&nbsp;&nbsp; 11317760 | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; 11317760 |
| &nbsp;&nbsp;&nbsp; Preferred Stocks | &nbsp;&nbsp;&nbsp; 11279090 | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; 11279090 |
| &nbsp;&nbsp;&nbsp; Money Market Funds | &nbsp;&nbsp;&nbsp; 89174 | &nbsp;&nbsp;&nbsp; 15035293 | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; 15124467 |
| **Total Investments** | &nbsp;&nbsp;&nbsp; $113034763 | &nbsp;&nbsp;&nbsp; $15035293 | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $128070056 |

---

------

## 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 Large Cap Growth ETF

- **b. EDGAR series identifier (if any):** S000003054

- **c. LEI of Series:** 9631ERQKZB448ODZR530

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

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

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

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $1241247488.74

**Total Liabilities:** $5357525.78

**Net Assets:** $1235889962.96

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000008321 | 10.58%               | 6.38%                | 1.30%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $612691.94               | $103849533.15                              |
| Month 2  | $37954602.80             | $38138808.99                               |
| Month 3  | $7442248.25              | $8702590.34                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| General Electric Co.                  | General Electric Co.                                       | CUSIP: 369604301<br>LEI: 3C7474T6CDKPR9K6YT90 | Long             | EC               | CORP              | US        |    156656 | NS      | $42466308.48  | 3.44%             |  |  |  | No            |                  1 | On Loan: No      |
| DoorDash, Inc.                        | DoorDash, Inc., Class A                                    | CUSIP: 25809K105<br>LEI: 549300NUQ43FGGSK5051 | Long             | EC               | CORP              | US        |     79130 | NS      | $19802282.50  | 1.60%             |  |  |  | No            |                  1 | On Loan: No      |
| KLA Corp.                             | KLA Corp.                                                  | CUSIP: 482480100<br>LEI: 549300H0BF5JCG96TJ81 | Long             | EC               | CORP              | US        |     20552 | NS      | $18065824.56  | 1.46%             |  |  |  | No            |                  1 | On Loan: No      |
| American Express Co.                  | American Express Co.                                       | CUSIP: 025816109<br>LEI: R4PP93JZOLY261QX3811 | Long             | EC               | CORP              | US        |    128959 | NS      | $38598718.29  | 3.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Trane Technologies PLC                | Trane Technologies PLC                                     | CUSIP: G8994E103<br>LEI: 549300BURLR9SLYY2705 | Long             | EC               | CORP              | IE        |     37168 | NS      | $16282557.44  | 1.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Netflix, Inc.                         | Netflix, Inc.                                              | CUSIP: 64110L106<br>LEI: 549300Y7VHGU0I7CE873 | Long             | EC               | CORP              | US        |     31246 | NS      | $36226612.40  | 2.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Veeva Systems Inc.                    | Veeva Systems Inc., Class A                                | CUSIP: 922475108<br>LEI: 549300YZEXPDB92M2F02 | Long             | EC               | CORP              | US        |     68117 | NS      | $19358851.40  | 1.57%             |  |  |  | No            |                  1 | On Loan: —       |
| Intercontinental Exchange, Inc.       | Intercontinental Exchange, Inc.                            | CUSIP: 45866F104<br>LEI: 5493000F4ZO33MV32P92 | Long             | EC               | CORP              | US        |     90809 | NS      | $16784227.47  | 1.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Nasdaq, Inc.                          | Nasdaq, Inc.                                               | CUSIP: 631103108<br>LEI: 549300L8X1Q78ERXFD06 | Long             | EC               | CORP              | US        |    195207 | NS      | $18782817.54  | 1.52%             |  |  |  | No            |                  1 | On Loan: No      |
| AppLovin Corp.                        | AppLovin Corp., Class A                                    | CUSIP: 03831W108<br>LEI: 549300LLVXMUAOL3SQ07 | Long             | EC               | CORP              | US        |     42566 | NS      | $16630536.20  | 1.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Charles Schwab Corp. (The)            | Charles Schwab Corp. (The)                                 | CUSIP: 808513105<br>LEI: 549300VSGCJ7E698NM85 | Long             | EC               | CORP              | US        |    182936 | NS      | $17878335.28  | 1.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Costco Wholesale Corp.                | Costco Wholesale Corp.                                     | CUSIP: 22160K105<br>LEI: 29DX7H14B9S6O3FD6V18 | Long             | EC               | CORP              | US        |     37224 | NS      | $34977159.36  | 2.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Philip Morris International Inc.      | Philip Morris International Inc.                           | CUSIP: 718172109<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | EC               | CORP              | US        |    211361 | NS      | $34673772.05  | 2.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Hilton Worldwide Holdings Inc.        | Hilton Worldwide Holdings Inc.                             | CUSIP: 43300A203<br>LEI: 549300HVGPK36ICB0B89 | Long             | EC               | CORP              | US        |     64072 | NS      | $17176421.76  | 1.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Amazon.com, Inc.                      | Amazon.com, Inc.                                           | CUSIP: 023135106<br>LEI: ZXTILKJKG63JELOEG630 | Long             | EC               | CORP              | US        |    183637 | NS      | $42991258.07  | 3.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Oracle Corp.                          | Oracle Corp.                                               | CUSIP: 68389X105<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | EC               | CORP              | US        |    233968 | NS      | $59374059.36  | 4.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Boston Scientific Corp.               | Boston Scientific Corp.                                    | CUSIP: 101137107<br>LEI: Y6ZDD9FP4P8JSSJMW954 | Long             | EC               | CORP              | US        |    152714 | NS      | $16022752.88  | 1.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Autodesk, Inc.                        | Autodesk, Inc.                                             | CUSIP: 052769106<br>LEI: FRKKVKAIQEF3FCSTPG55 | Long             | EC               | CORP              | US        |     53981 | NS      | $16362180.91  | 1.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Visa Inc.                             | Visa Inc., Class A                                         | CUSIP: 92826C839<br>LEI: 549300JZ4OKEHW3DPJ59 | Long             | EC               | CORP              | US        |    105428 | NS      | $36422211.16  | 2.95%             |  |  |  | No            |                  1 | On Loan: No      |
| TJX Cos., Inc. (The)                  | TJX Cos., Inc. (The)                                       | CUSIP: 872540109<br>LEI: V167QI9I69W364E2DY52 | Long             | EC               | CORP              | US        |    126709 | NS      | $15779071.77  | 1.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Workday, Inc.                         | Workday, Inc., Class A                                     | CUSIP: 98138H101<br>LEI: 549300J0DYC0N31V7G13 | Long             | EC               | CORP              | US        |     67750 | NS      | $15540495.00  | 1.26%             |  |  |  | No            |                  1 | On Loan: —       |
| Broadcom Inc.                         | Broadcom Inc.                                              | CUSIP: 11135F101<br>LEI: 549300WV6GIDOZJTV909 | Long             | EC               | CORP              | US        |    160615 | NS      | $47172625.50  | 3.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Intuitive Surgical, Inc.              | Intuitive Surgical, Inc.                                   | CUSIP: 46120E602<br>LEI: 54930052SRG011710797 | Long             | EC               | CORP              | US        |     68852 | NS      | $33124008.68  | 2.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Automatic Data Processing, Inc.       | Automatic Data Processing, Inc.                            | CUSIP: 053015103<br>LEI: HGBOLILQXWER4SAL2I23 | Long             | EC               | CORP              | US        |     49781 | NS      | $15407219.50  | 1.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Quanta Services, Inc.                 | Quanta Services, Inc.                                      | CUSIP: 74762E102<br>LEI: SHVRXXEACT60MMH07S24 | Long             | EC               | CORP              | US        |     47493 | NS      | $19288332.09  | 1.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Republic Services, Inc.               | Republic Services, Inc.                                    | CUSIP: 760759100<br>LEI: NKNQHM6BLECKVOQP7O46 | Long             | EC               | CORP              | US        |     63601 | NS      | $14669570.65  | 1.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Vistra Corp.                          | Vistra Corp.                                               | CUSIP: 92840M102<br>LEI: 549300KP43CPCUJOOG15 | Long             | EC               | CORP              | US        |     98943 | NS      | $20633573.22  | 1.67%             |  |  |  | No            |                  1 | On Loan: No      |
| NVIDIA Corp.                          | NVIDIA Corp.                                               | CUSIP: 67066G104<br>LEI: 549300S4KLFTLO7GSQ80 | Long             | EC               | CORP              | US        |    279575 | NS      | $49728005.25  | 4.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Roblox Corp.                          | Roblox Corp., Class A                                      | CUSIP: 771049103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    189795 | NS      | $26151853.05  | 2.12%             |  |  |  | No            |                  1 | On Loan: —       |
| Arista Networks, Inc.                 | Arista Networks, Inc.                                      | CUSIP: 040413205<br>LEI: 635400H1WKBLOQERUU95 | Long             | EC               | CORP              | US        |    175308 | NS      | $21601451.76  | 1.75%             |  |  |  | No            |                  1 | On Loan: No      |
| MercadoLibre, Inc.                    | MercadoLibre, Inc.                                         | CUSIP: 58733R102<br>LEI: 549300DKPDN9M5S8GB14 | Long             | EC               | CORP              | US        |      6343 | NS      | $15057584.27  | 1.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Cintas Corp.                          | Cintas Corp.                                               | CUSIP: 172908105<br>LEI: 549300E27V6N4OJCJ944 | Long             | EC               | CORP              | US        |     71778 | NS      | $15974193.90  | 1.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Meta Platforms, Inc.                  | Meta Platforms, Inc., Class A                              | CUSIP: 30303M102<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | EC               | CORP              | US        |     58905 | NS      | $45559483.20  | 3.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Fortinet, Inc.                        | Fortinet, Inc.                                             | CUSIP: 34959E109<br>LEI: 549300O0QJWDBAS0QX03 | Long             | EC               | CORP              | US        |    154799 | NS      | $15464420.10  | 1.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Spotify Technology S.A.               | Spotify Technology S.A.                                    | CUSIP: L8681T102<br>LEI: 549300B4X0JHWV0DTD60 | Long             | EC               | CORP              | LU        |     24817 | NS      | $15548843.18  | 1.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Invesco Private Prime Fund            | Invesco Private Prime Fund                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             | PF                | US        |   3261436 | NS      | $3261436.16   | 0.26%             |  |  |  | No            |                  2 | On Loan: No      |
| Verisk Analytics, Inc.                | Verisk Analytics, Inc.                                     | CUSIP: 92345Y106<br>LEI: 549300I1YSWNIRKBWP67 | Long             | EC               | CORP              | US        |     51276 | NS      | $14291133.96  | 1.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Fair Isaac Corp.                      | Fair Isaac Corp.                                           | CUSIP: 303250104<br>LEI: RI6HET5SJUEY30V1PS26 | Long             | EC               | CORP              | US        |     10775 | NS      | $15480658.00  | 1.25%             |  |  |  | No            |                  1 | On Loan: No      |
| McKesson Corp.                        | McKesson Corp.                                             | CUSIP: 58155Q103<br>LEI: 549300WZWOM80UCFSF54 | Long             | EC               | CORP              | US        |     22513 | NS      | $15613666.02  | 1.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Progressive Corp. (The)               | Progressive Corp. (The)                                    | CUSIP: 743315103<br>LEI: 529900TACNVLY9DCR586 | Long             | EC               | CORP              | US        |     58166 | NS      | $14078498.64  | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Howmet Aerospace Inc.                 | Howmet Aerospace Inc.                                      | CUSIP: 443201108<br>LEI: 549300HO5WFZUT5N2T22 | Long             | EC               | CORP              | US        |     95732 | NS      | $17209741.64  | 1.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Booking Holdings Inc.                 | Booking Holdings Inc.                                      | CUSIP: 09857L108<br>LEI: FXM8FAOHMYDIPD38UZ17 | Long             | EC               | CORP              | US        |      2976 | NS      | $16380082.56  | 1.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Apple Inc.                            | Apple Inc.                                                 | CUSIP: 037833100<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | EC               | CORP              | US        |    189218 | NS      | $39275980.26  | 3.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Amphenol Corp.                        | Amphenol Corp., Class A                                    | CUSIP: 032095101<br>LEI: 549300D3L3G0R4U4VT04 | Long             | EC               | CORP              | US        |    183643 | NS      | $19559815.93  | 1.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Mastercard Inc.                       | Mastercard Inc., Class A                                   | CUSIP: 57636Q104<br>LEI: AR5L2ODV9HN37376R084 | Long             | EC               | CORP              | US        |     65927 | NS      | $37345667.69  | 3.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Monster Beverage Corp.                | Monster Beverage Corp.                                     | CUSIP: 61174X109<br>LEI: 52990090AP0E7HCB6F33 | Long             | EC               | CORP              | US        |    252393 | NS      | $14828088.75  | 1.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Invesco Government & Agency Portfolio | Invesco Government & Agency Portfolio, Institutional Class | CUSIP: 825252885<br>LEI: 5493007T1J7WZ5QI1A47 | Long             | STIV             | RF                | US        |    943994 | NS      | $943993.76    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| AutoZone, Inc.                        | AutoZone, Inc.                                             | CUSIP: 053332102<br>LEI: GA3JGKJ41LJKXDN23E90 | Long             | EC               | CORP              | US        |      4383 | NS      | $16516809.54  | 1.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Invesco Private Government Fund       | Invesco Private Government Fund                            | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             | PF                | US        |   1259768 | NS      | $1259767.60   | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| Microsoft Corp.                       | Microsoft Corp.                                            | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |     82231 | NS      | $43870238.50  | 3.55%             |  |  |  | No            |                  1 | On Loan: No      |
| GE Vernova Inc.                       | GE Vernova Inc.                                            | CUSIP: 36828A101<br>LEI: 254900DP080RU6OK2553 | Long             | EC               | CORP              | US        |     34384 | NS      | $22703411.36  | 1.84%             |  |  |  | No            |                  1 | On Loan: No      |
| O'Reilly Automotive, Inc.             | O'Reilly Automotive, Inc.                                  | CUSIP: 67103H107<br>LEI: 549300K2RLMQL149Q332 | Long             | EC               | CORP              | US        |    178549 | NS      | $17554937.68  | 1.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Robinhood Markets, Inc.               | Robinhood Markets, Inc., Class A                           | CUSIP: 770700102<br>LEI: 213800FS5AO3YWIE6F63 | Long             | EC               | CORP              | US        |    245747 | NS      | $25324228.35  | 2.05%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

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

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

**Signature:** Adrien Deberghes

**Name of Signer:** Adrien Deberghes

**Title:** Vice President