# EDGAR Filing Document

**Accession Number:** 0001378872
**File Stem:** 0001378872-26-000600
**Filing Date:** 2026-4
**Character Count:** 449098
**Document Hash:** 74dc987a823b85b6ce6daa21bdeb3a5c
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001378872-26-000600.hdr.sgml**: 20260401

**ACCESSION NUMBER**: 0001378872-26-000600

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260131

**FILED AS OF DATE**: 20260401

**DATE AS OF CHANGE**: 20260401

**PERIOD START**: 20261031

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Invesco Exchange-Traded Fund Trust II
- **CENTRAL INDEX KEY:** 0001378872

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **FISCAL YEAR END:** 1031

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-21977
- **FILM NUMBER:** 26825645

**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 II
- **DATE OF NAME CHANGE:** 20070919

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** PowerShares Global Exchange-Traded Fund Trust
- **DATE OF NAME CHANGE:** 20061023

## Series and Classes Contracts Data

### Invesco Global ex-US High Yield Corporate Bond ETF (Series ID: S000040915)

| Class ID   | Class Name                                         | Ticker Symbol   |
|:---|:---|:---|
| C000126877 | Invesco Global ex-US High Yield Corporate Bond ETF | PGHY            |

## Nport-Ex

Schedule of Investments

**Invesco 0-5 Yr US TIPS ETF (PBTP)**

January 31, 2026

*(Unaudited)*

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

---

| | | |
|:---|:---|:---|
|  | **Principal**<br> **Amount** | **Value** |
| **U.S. Treasury Securities-99.74%** | **U.S. Treasury Securities-99.74%** | **U.S. Treasury Securities-99.74%** |
| **U.S. Treasury Inflation — Indexed Bonds-13.36%**<sup>(a)</sup> | **U.S. Treasury Inflation — Indexed Bonds-13.36%**<sup>(a)</sup> | **U.S. Treasury Inflation — Indexed Bonds-13.36%**<sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp; 2.38%, 01/15/2027 | $1582639 | &nbsp;&nbsp; $1605756 |
| &nbsp;&nbsp;&nbsp; 1.75%, 01/15/2028 | 1448597 | &nbsp;&nbsp; 1471890 |
| &nbsp;&nbsp;&nbsp; 3.63%, 04/15/2028 | 2010354 | &nbsp;&nbsp; 2125206 |
| &nbsp;&nbsp;&nbsp; 2.50%, 01/15/2029 | 1279428 | &nbsp;&nbsp; 1333145 |
| &nbsp;&nbsp;&nbsp; 3.88%, 04/15/2029 | 2285632 | &nbsp;&nbsp; 2482815 |
|  |  | &nbsp;&nbsp; 9018812 |
| **U.S. Treasury Inflation — Indexed Notes-86.38%**<sup>(a)</sup> | **U.S. Treasury Inflation — Indexed Notes-86.38%**<sup>(a)</sup> | **U.S. Treasury Inflation — Indexed Notes-86.38%**<sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp; 0.13%, 04/15/2026 | 2961535 | &nbsp;&nbsp; 2959426 |
| &nbsp;&nbsp;&nbsp; 0.13%, 07/15/2026 | 2994966 | &nbsp;&nbsp; 3002185 |
| &nbsp;&nbsp;&nbsp; 0.13%, 10/15/2026 | 2728241 | &nbsp;&nbsp; 2726228 |
| &nbsp;&nbsp;&nbsp; 0.38%, 01/15/2027 | 3051633 | &nbsp;&nbsp; 3038591 |
| &nbsp;&nbsp;&nbsp; 0.13%, 04/15/2027 | 2716532 | &nbsp;&nbsp; 2689375 |
| &nbsp;&nbsp;&nbsp; 0.38%, 07/15/2027 | 2932910 | &nbsp;&nbsp; 2924305 |
| &nbsp;&nbsp;&nbsp; 1.63%, 10/15/2027 | 2629048 | &nbsp;&nbsp; 2670776 |
| &nbsp;&nbsp;&nbsp; 0.50%, 01/15/2028 | 3056519 | &nbsp;&nbsp; 3032076 |
| &nbsp;&nbsp;&nbsp; 1.25%, 04/15/2028 | 2593848 | &nbsp;&nbsp; 2607180 |
| &nbsp;&nbsp;&nbsp; 0.75%, 07/15/2028 | 2833626 | &nbsp;&nbsp; 2828712 |
| &nbsp;&nbsp;&nbsp; 2.38%, 10/15/2028 | 2671028 | &nbsp;&nbsp; 2775649 |
| &nbsp;&nbsp;&nbsp; 0.88%, 01/15/2029 | 2788965 | &nbsp;&nbsp; 2775145 |
| &nbsp;&nbsp;&nbsp; 2.13%, 04/15/2029 | 2726924 | &nbsp;&nbsp; 2812131 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | **Principal**<br> **Amount** | **Principal**<br> **Amount** | **Value** |
| **U.S. Treasury Inflation — Indexed Notes-(continued)** | **U.S. Treasury Inflation — Indexed Notes-(continued)** | **U.S. Treasury Inflation — Indexed Notes-(continued)** | **U.S. Treasury Inflation — Indexed Notes-(continued)** |
| &nbsp;&nbsp;&nbsp; 0.25%, 07/15/2029 | $| 3026769 | &nbsp;&nbsp; $2951531 |
| &nbsp;&nbsp;&nbsp; 1.63%, 10/15/2029 |  | 2873099 | &nbsp;&nbsp; 2931525 |
| &nbsp;&nbsp;&nbsp; 0.13%, 01/15/2030 |  | 3104602 | &nbsp;&nbsp; 2979413 |
| &nbsp;&nbsp;&nbsp; 1.63%, 04/15/2030 |  | 3181671 | &nbsp;&nbsp; 3230625 |
| &nbsp;&nbsp;&nbsp; 0.13%, 07/15/2030 |  | 3239056 | &nbsp;&nbsp; 3094994 |
| &nbsp;&nbsp;&nbsp; 1.13%, 10/15/2030 |  | 3254962 | &nbsp;&nbsp; 3240521 |
| &nbsp;&nbsp;&nbsp; 0.13%, 01/15/2031 |  | 3213629 | &nbsp;&nbsp; 3033130 |
|  |  |  | &nbsp;&nbsp; 58303518 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total U.S. Treasury Securities <br>(Cost $66,738,081) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total U.S. Treasury Securities <br>(Cost $66,738,081) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total U.S. Treasury Securities <br>(Cost $66,738,081) | &nbsp;&nbsp; 67322330 |
|  | **Shares** | **Shares** |  |
| **Money Market Funds-0.16%** | **Money Market Funds-0.16%** | **Money Market Funds-0.16%** | **Money Market Funds-0.16%** |
| &nbsp;&nbsp;&nbsp; Invesco Government & Agency Portfolio, <br> Institutional Class, 3.61%<sup>(b)(c)</sup> <br>(Cost $108,823)<br>|  | 108823 | &nbsp;&nbsp; 108823 |
| &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES-99.90% <br>(Cost $66,846,904) | &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES-99.90% <br>(Cost $66,846,904) | &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES-99.90% <br>(Cost $66,846,904) | &nbsp;&nbsp; 67431153 |
| OTHER ASSETS LESS LIABILITIES-0.10% | OTHER ASSETS LESS LIABILITIES-0.10% | OTHER ASSETS LESS LIABILITIES-0.10% | &nbsp;&nbsp; 67987 |
| NET ASSETS-100.00% | NET ASSETS-100.00% | NET ASSETS-100.00% | &nbsp;&nbsp; $67499140 |

---

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

---

| | |
|:---|:---|
| Notes to Schedule of Investments: | Notes to Schedule of Investments: |
| <sup>(a)</sup> | Principal amount of security and interest payments are adjusted for inflation.  |
| <sup>(b)</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 January 31, 2026.<br>|

---

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

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Value** <br>**October 31, 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>**January 31, 2026**<br>| **Dividend Income** |
| **Investments in Affiliated** <br> **Money Market Funds:**<br>|  |  |  |  |  |  |  |
| &nbsp;&nbsp; Invesco Government & Agency <br> Portfolio, Institutional Class<br>| &nbsp;&nbsp;&nbsp; $274943 | &nbsp;&nbsp;&nbsp; $869214 | &nbsp;&nbsp;&nbsp; $(1035334)<br>| &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $108823 | &nbsp;&nbsp;&nbsp; $582 |

---

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

<sup>(c)</sup> The rate shown is the 7-day SEC standardized yield as of January 31, 2026.

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

**Invesco Emerging Markets Sovereign Debt ETF (PCY)**

January 31, 2026

*(Unaudited)*

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

---

| | | |
|:---|:---|:---|
|  | **Principal**<br> **Amount** | **Value** |
| **U.S. Dollar Denominated Bonds & Notes-98.34%** | **U.S. Dollar Denominated Bonds & Notes-98.34%** | **U.S. Dollar Denominated Bonds & Notes-98.34%** |
| **Angola-3.08%** | **Angola-3.08%** | **Angola-3.08%** |
| Angolan Government International Bond |  |  |
| &nbsp;&nbsp;&nbsp; 8.75%, 04/14/2032<sup>(a)</sup> | $13631000 | &nbsp;&nbsp; $13369795 |
| &nbsp;&nbsp;&nbsp; 9.38%, 05/08/2048<sup>(a)</sup> | 14869000 | &nbsp;&nbsp; 13269378 |
| &nbsp;&nbsp;&nbsp; 9.13%, 11/26/2049<sup>(a)</sup> | 15139000 | &nbsp;&nbsp; 13137100 |
|  |  | &nbsp;&nbsp; 39776273 |
| **Bahrain-2.88%** | **Bahrain-2.88%** | **Bahrain-2.88%** |
| Bahrain Government International Bond |  |  |
| &nbsp;&nbsp;&nbsp; 6.00%, 09/19/2044<sup>(a)(b)</sup> | 14343000 | &nbsp;&nbsp; 12322293 |
| &nbsp;&nbsp;&nbsp; 7.50%, 09/20/2047<sup>(a)</sup> | 12287000 | &nbsp;&nbsp; 12261718 |
| &nbsp;&nbsp;&nbsp; 6.25%, 01/25/2051<sup>(a)(b)</sup> | 14584000 | &nbsp;&nbsp; 12579316 |
|  |  | &nbsp;&nbsp; 37163327 |
| **Brazil-3.03%** | **Brazil-3.03%** | **Brazil-3.03%** |
| Brazilian Government International Bond |  |  |
| &nbsp;&nbsp;&nbsp; 4.75%, 01/14/2050 | 17742000 | &nbsp;&nbsp; 13065209 |
| &nbsp;&nbsp;&nbsp; 7.13%, 05/13/2054<sup>(b)</sup> | 12806000 | &nbsp;&nbsp; 12845571 |
| &nbsp;&nbsp;&nbsp; 7.25%, 01/12/2056 | 13135000 | &nbsp;&nbsp; 13157986 |
|  |  | &nbsp;&nbsp; 39068766 |
| **Chile-3.03%** | **Chile-3.03%** | **Chile-3.03%** |
| Chile Government International Bond |  |  |
| &nbsp;&nbsp;&nbsp; 4.34%, 03/07/2042 | 14573000 | &nbsp;&nbsp; 12959769 |
| &nbsp;&nbsp;&nbsp; 4.00%, 01/31/2052 | 16646000 | &nbsp;&nbsp; 13192787 |
| &nbsp;&nbsp;&nbsp; 5.33%, 01/05/2054 | 13367997 | &nbsp;&nbsp; 12974644 |
|  |  | &nbsp;&nbsp; 39127200 |
| **China-3.01%** | **China-3.01%** | **China-3.01%** |
| China Government International Bond |  |  |
| &nbsp;&nbsp;&nbsp; 4.00%, 10/19/2048<sup>(a)(b)</sup> | 13682000 | &nbsp;&nbsp; 13094427 |
| &nbsp;&nbsp;&nbsp; 2.25%, 10/21/2050<sup>(a)(b)</sup> | 18930000 | &nbsp;&nbsp; 12910486 |
| &nbsp;&nbsp;&nbsp; 2.50%, 10/26/2051<sup>(a)(b)</sup> | 18019000 | &nbsp;&nbsp; 12884793 |
|  |  | &nbsp;&nbsp; 38889706 |
| **Colombia-3.08%** | **Colombia-3.08%** | **Colombia-3.08%** |
| Colombia Government International Bond |  |  |
| &nbsp;&nbsp;&nbsp; 5.63%, 02/26/2044 | 16154000 | &nbsp;&nbsp; 13134817 |
| &nbsp;&nbsp;&nbsp; 8.75%, 11/14/2053<sup>(b)</sup> | 12046000 | &nbsp;&nbsp; 13256623 |
| &nbsp;&nbsp;&nbsp; 8.38%, 11/07/2054 | 12643000 | &nbsp;&nbsp; 13392098 |
|  |  | &nbsp;&nbsp; 39783538 |
| **Costa Rica-3.06%** | **Costa Rica-3.06%** | **Costa Rica-3.06%** |
| Costa Rica Government International Bond |  |  |
| &nbsp;&nbsp;&nbsp; 5.63%, 04/30/2043<sup>(a)(b)</sup> | 13876000 | &nbsp;&nbsp; 13288629 |
| &nbsp;&nbsp;&nbsp; 7.00%, 04/04/2044<sup>(a)(b)</sup> | 12056000 | &nbsp;&nbsp; 13136097 |
| &nbsp;&nbsp;&nbsp; 7.16%, 03/12/2045<sup>(a)(b)</sup> | 11944000 | &nbsp;&nbsp; 13096118 |
|  |  | &nbsp;&nbsp; 39520844 |
| **Dominican Republic-3.03%** | **Dominican Republic-3.03%** | **Dominican Republic-3.03%** |
| Dominican Republic International Bond |  |  |
| &nbsp;&nbsp;&nbsp; 7.45%, 04/30/2044<sup>(a)</sup> | 11680000 | &nbsp;&nbsp; 12865520 |
| &nbsp;&nbsp;&nbsp; 6.85%, 01/27/2045<sup>(a)</sup> | 12591000 | &nbsp;&nbsp; 13056867 |
| &nbsp;&nbsp;&nbsp; 6.50%, 02/15/2048<sup>(a)(b)</sup> | 13229000 | &nbsp;&nbsp; 13189313 |
|  |  | &nbsp;&nbsp; 39111700 |
| **Egypt-3.44%** | **Egypt-3.44%** | **Egypt-3.44%** |
| Egypt Government International Bond |  |  |
| &nbsp;&nbsp;&nbsp; 8.70%, 03/01/2049<sup>(a)</sup> | 14946000 | &nbsp;&nbsp; 14662273 |
| &nbsp;&nbsp;&nbsp; 8.88%, 05/29/2050<sup>(a)</sup> | 15173000 | &nbsp;&nbsp; 15032748 |
| &nbsp;&nbsp;&nbsp; 8.75%, 09/30/2051<sup>(a)</sup> | 14981000 | &nbsp;&nbsp; 14658741 |
|  |  | &nbsp;&nbsp; 44353762 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal**<br> **Amount** | **Value** |
| **El Salvador-3.12%** | **El Salvador-3.12%** | **El Salvador-3.12%** |
| El Salvador Government International Bond |  |  |
| &nbsp;&nbsp;&nbsp; 7.63%, 02/01/2041<sup>(a)</sup> | $13365000 | &nbsp;&nbsp; $13398413 |
| &nbsp;&nbsp;&nbsp; 7.13%, 01/20/2050<sup>(a)</sup> | 14582000 | &nbsp;&nbsp; 13451895 |
| &nbsp;&nbsp;&nbsp; 9.50%, 07/15/2052<sup>(a)</sup> | 11745000 | &nbsp;&nbsp; 13407387 |
|  |  | &nbsp;&nbsp; 40257695 |
| **Guatemala-3.19%** | **Guatemala-3.19%** | **Guatemala-3.19%** |
| Guatemala Government Bond |  |  |
| &nbsp;&nbsp;&nbsp; 6.55%, 02/06/2037<sup>(a)</sup> | 12750000 | &nbsp;&nbsp; 13595962 |
| &nbsp;&nbsp;&nbsp; 4.65%, 10/07/2041<sup>(a)</sup> | 15889000 | &nbsp;&nbsp; 13752962 |
| &nbsp;&nbsp;&nbsp; 6.88%, 08/15/2055<sup>(a)</sup> | 12921000 | &nbsp;&nbsp; 13825858 |
|  |  | &nbsp;&nbsp; 41174782 |
| **Hungary-2.92%** | **Hungary-2.92%** | **Hungary-2.92%** |
| Hungary Government International Bond |  |  |
| &nbsp;&nbsp;&nbsp; 7.63%, 03/29/2041 | 10868000 | &nbsp;&nbsp; 12661289 |
| &nbsp;&nbsp;&nbsp; 6.75%, 09/25/2052<sup>(a)</sup> | 11647000 | &nbsp;&nbsp; 12405457 |
| &nbsp;&nbsp;&nbsp; 6.75%, 09/23/2055<sup>(a)</sup> | 12060000 | &nbsp;&nbsp; 12557036 |
|  |  | &nbsp;&nbsp; 37623782 |
| **Indonesia-2.82%** | **Indonesia-2.82%** | **Indonesia-2.82%** |
| Indonesia Government International Bond |  |  |
| &nbsp;&nbsp;&nbsp; 3.50%, 02/14/2050 | 17490000 | &nbsp;&nbsp; 12440612 |
| &nbsp;&nbsp;&nbsp; 4.45%, 04/15/2070 | 15178000 | &nbsp;&nbsp; 11900907 |
| &nbsp;&nbsp;&nbsp; 3.35%, 03/12/2071 | 19386000 | &nbsp;&nbsp; 11994987 |
|  |  | &nbsp;&nbsp; 36336506 |
| **Jordan-3.15%** | **Jordan-3.15%** | **Jordan-3.15%** |
| Jordan Government International Bond |  |  |
| &nbsp;&nbsp;&nbsp; 7.50%, 01/13/2029<sup>(a)</sup> | 12568000 | &nbsp;&nbsp; 13201565 |
| &nbsp;&nbsp;&nbsp; 5.85%, 07/07/2030<sup>(a)</sup> | 13578000 | &nbsp;&nbsp; 13699509 |
| &nbsp;&nbsp;&nbsp; 7.38%, 10/10/2047<sup>(a)</sup> | 13833000 | &nbsp;&nbsp; 13710012 |
|  |  | &nbsp;&nbsp; 40611086 |
| **Kazakhstan-2.93%** | **Kazakhstan-2.93%** | **Kazakhstan-2.93%** |
| &nbsp;&nbsp;&nbsp; Kazakhstan Government International <br> Bond<br>|  |  |
| &nbsp;&nbsp;&nbsp; 5.50%, 07/01/2037<sup>(a)</sup> | 12629000 | &nbsp;&nbsp; 12847137 |
| &nbsp;&nbsp;&nbsp; 4.88%, 10/14/2044<sup>(a)</sup> | 13661000 | &nbsp;&nbsp; 12366423 |
| &nbsp;&nbsp;&nbsp; 6.50%, 07/21/2045<sup>(a)</sup> | 11538000 | &nbsp;&nbsp; 12546950 |
|  |  | &nbsp;&nbsp; 37760510 |
| **Mexico-3.02%** | **Mexico-3.02%** | **Mexico-3.02%** |
| Mexico Government International Bond |  |  |
| &nbsp;&nbsp;&nbsp; 6.34%, 05/04/2053 | 13689000 | &nbsp;&nbsp; 13012079 |
| &nbsp;&nbsp;&nbsp; 3.75%, 04/19/2071 | 21787000 | &nbsp;&nbsp; 12882653 |
| &nbsp;&nbsp;&nbsp; 5.75%, 10/12/2110 | 15720000 | &nbsp;&nbsp; 13100262 |
|  |  | &nbsp;&nbsp; 38994994 |
| **Morocco-3.05%** | **Morocco-3.05%** | **Morocco-3.05%** |
| Morocco Government International Bond |  |  |
| &nbsp;&nbsp;&nbsp; 6.50%, 09/08/2033<sup>(a)</sup> | 11946000 | &nbsp;&nbsp; 12879948 |
| &nbsp;&nbsp;&nbsp; 5.50%, 12/11/2042<sup>(a)</sup> | 14092000 | &nbsp;&nbsp; 13340918 |
| &nbsp;&nbsp;&nbsp; 4.00%, 12/15/2050<sup>(a)</sup> | 18464000 | &nbsp;&nbsp; 13186400 |
|  |  | &nbsp;&nbsp; 39407266 |
| **Nigeria-3.34%** | **Nigeria-3.34%** | **Nigeria-3.34%** |
| Nigeria Government International Bond |  |  |
| &nbsp;&nbsp;&nbsp; 7.70%, 02/23/2038<sup>(a)</sup> | 14270000 | &nbsp;&nbsp; 14133804 |
| &nbsp;&nbsp;&nbsp; 7.63%, 11/28/2047<sup>(a)</sup> | 15342000 | &nbsp;&nbsp; 14381810 |
| &nbsp;&nbsp;&nbsp; 9.25%, 01/21/2049<sup>(a)(b)</sup> | 13362000 | &nbsp;&nbsp; 14573426 |
|  |  | &nbsp;&nbsp; 43089040 |

---

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

------

**Invesco Emerging Markets Sovereign Debt ETF (PCY)—(continued)**

January 31, 2026

*(Unaudited)*

---

| | | |
|:---|:---|:---|
|  | **Principal**<br> **Amount** | **Value** |
| **Oman-3.06%** | **Oman-3.06%** | **Oman-3.06%** |
| Oman Government International Bond |  |  |
| &nbsp;&nbsp;&nbsp; 6.50%, 03/08/2047<sup>(a)</sup> | $12283000 | &nbsp;&nbsp; $12995484 |
| &nbsp;&nbsp;&nbsp; 6.75%, 01/17/2048<sup>(a)</sup> | 12323000 | &nbsp;&nbsp; 13325632 |
| &nbsp;&nbsp;&nbsp; 7.00%, 01/25/2051<sup>(a)</sup> | 11802000 | &nbsp;&nbsp; 13189299 |
|  |  | &nbsp;&nbsp; 39510415 |
| **Pakistan-3.34%** | **Pakistan-3.34%** | **Pakistan-3.34%** |
| Pakistan Government International Bond |  |  |
| &nbsp;&nbsp;&nbsp; 7.38%, 04/08/2031<sup>(a)</sup> | 20835000 | &nbsp;&nbsp; 21018083 |
| &nbsp;&nbsp;&nbsp; 8.88%, 04/08/2051<sup>(a)</sup> | 22001000 | &nbsp;&nbsp; 22140519 |
|  |  | &nbsp;&nbsp; 43158602 |
| **Panama-3.27%** | **Panama-3.27%** | **Panama-3.27%** |
| Panama Government International Bond |  |  |
| &nbsp;&nbsp;&nbsp; 6.40%, 02/14/2035<sup>(b)</sup> | 13325000 | &nbsp;&nbsp; 13969930 |
| &nbsp;&nbsp;&nbsp; 6.88%, 01/31/2036 | 12993000 | &nbsp;&nbsp; 13994436 |
| &nbsp;&nbsp;&nbsp; 7.88%, 03/01/2057 | 12339000 | &nbsp;&nbsp; 14247226 |
|  |  | &nbsp;&nbsp; 42211592 |
| **Peru-2.94%** | **Peru-2.94%** | **Peru-2.94%** |
| Peruvian Government International Bond |  |  |
| &nbsp;&nbsp;&nbsp; 5.88%, 08/08/2054 | 13021000 | &nbsp;&nbsp; 12806154 |
| &nbsp;&nbsp;&nbsp; 6.20%, 06/30/2055 | 12112000 | &nbsp;&nbsp; 12402082 |
| &nbsp;&nbsp;&nbsp; 3.60%, 01/15/2072 | 20190000 | &nbsp;&nbsp; 12781784 |
|  |  | &nbsp;&nbsp; 37990020 |
| **Philippines-2.93%** | **Philippines-2.93%** | **Philippines-2.93%** |
| Philippine Government International Bond |  |  |
| &nbsp;&nbsp;&nbsp; 4.20%, 03/29/2047 | 15085000 | &nbsp;&nbsp; 12440372 |
| &nbsp;&nbsp;&nbsp; 5.95%, 10/13/2047 | 11899000 | &nbsp;&nbsp; 12343068 |
| &nbsp;&nbsp;&nbsp; 5.90%, 02/04/2050<sup>(b)</sup> | 12476000 | &nbsp;&nbsp; 13001518 |
|  |  | &nbsp;&nbsp; 37784958 |
| **Qatar-2.96%** | **Qatar-2.96%** | **Qatar-2.96%** |
| Qatar Government International Bond |  |  |
| &nbsp;&nbsp;&nbsp; 4.63%, 06/02/2046<sup>(a)</sup> | 13958000 | &nbsp;&nbsp; 12737862 |
| &nbsp;&nbsp;&nbsp; 5.10%, 04/23/2048<sup>(a)</sup> | 13137000 | &nbsp;&nbsp; 12805702 |
| &nbsp;&nbsp;&nbsp; 4.82%, 03/14/2049<sup>(a)</sup> | 13635000 | &nbsp;&nbsp; 12637925 |
|  |  | &nbsp;&nbsp; 38181489 |
| **Romania-3.25%** | **Romania-3.25%** | **Romania-3.25%** |
| Romanian Government International Bond |  |  |
| &nbsp;&nbsp;&nbsp; 5.13%, 06/15/2048<sup>(a)</sup> | 16698000 | &nbsp;&nbsp; 14010436 |
| &nbsp;&nbsp;&nbsp; 4.00%, 02/14/2051<sup>(a)</sup> | 19990000 | &nbsp;&nbsp; 13965292 |
| &nbsp;&nbsp;&nbsp; 7.63%, 01/17/2053<sup>(a)</sup> | 12524000 | &nbsp;&nbsp; 13970480 |
|  |  | &nbsp;&nbsp; 41946208 |
| **Saudi Arabia-2.94%** | **Saudi Arabia-2.94%** | **Saudi Arabia-2.94%** |
| Saudi Government International Bond |  |  |
| &nbsp;&nbsp;&nbsp; 5.75%, 01/16/2054<sup>(a)(b)</sup> | 13177000 | &nbsp;&nbsp; 12794738 |
| &nbsp;&nbsp;&nbsp; 4.50%, 04/22/2060<sup>(a)</sup> | 15782000 | &nbsp;&nbsp; 12396456 |
| &nbsp;&nbsp;&nbsp; 3.45%, 02/02/2061<sup>(a)</sup> | 20201000 | &nbsp;&nbsp; 12702637 |
|  |  | &nbsp;&nbsp; 37893831 |
| **Serbia-3.06%** | **Serbia-3.06%** | **Serbia-3.06%** |
| Serbia International Bond |  |  |
| &nbsp;&nbsp;&nbsp; 2.13%, 12/01/2030<sup>(a)</sup> | 15335000 | &nbsp;&nbsp; 13527373 |
| &nbsp;&nbsp;&nbsp; 6.50%, 09/26/2033<sup>(a)</sup> | 11818000 | &nbsp;&nbsp; 12734432 |
| &nbsp;&nbsp;&nbsp; 6.00%, 06/12/2034<sup>(a)</sup> | 12675000 | &nbsp;&nbsp; 13179757 |
|  |  | &nbsp;&nbsp; 39441562 |
| **South Africa-3.19%** | **South Africa-3.19%** | **South Africa-3.19%** |
| &nbsp;&nbsp;&nbsp; Republic of South Africa Government <br> International Bond<br>|  |  |
| &nbsp;&nbsp;&nbsp; 5.75%, 09/30/2049 | 16350000 | &nbsp;&nbsp; 13490840 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal**<br> **Amount** | **Value** |
| **South Africa-(continued)** | **South Africa-(continued)** | **South Africa-(continued)** |
| &nbsp;&nbsp;&nbsp; 7.30%, 04/20/2052 | 13664000 | &nbsp;&nbsp; $13501806 |
| &nbsp;&nbsp;&nbsp; 7.95%, 11/19/2054<sup>(a)</sup> | 13400000 | &nbsp;&nbsp; 14103034 |
|  |  | &nbsp;&nbsp; 41095680 |
| **Trinidad-3.04%** | **Trinidad-3.04%** | **Trinidad-3.04%** |
| &nbsp;&nbsp;&nbsp; Trinidad & Tobago Government <br> International Bond<br>|  |  |
| &nbsp;&nbsp;&nbsp; 4.50%, 06/26/2030<sup>(a)</sup> | 13675000 | &nbsp;&nbsp; 13233024 |
| &nbsp;&nbsp;&nbsp; 5.95%, 01/14/2031<sup>(a)</sup> | 12839000 | &nbsp;&nbsp; 13074211 |
| &nbsp;&nbsp;&nbsp; 6.40%, 06/26/2034<sup>(a)(b)</sup> | 12874000 | &nbsp;&nbsp; 12971327 |
|  |  | &nbsp;&nbsp; 39278562 |
| **Turkey-3.06%** | **Turkey-3.06%** | **Turkey-3.06%** |
| Turkey Government International Bond |  |  |
| &nbsp;&nbsp;&nbsp; 4.88%, 04/16/2043 | 17249000 | &nbsp;&nbsp; 13017968 |
| &nbsp;&nbsp;&nbsp; 6.63%, 02/17/2045 | 14684000 | &nbsp;&nbsp; 13377423 |
| &nbsp;&nbsp;&nbsp; 5.75%, 05/11/2047 | 16152000 | &nbsp;&nbsp; 13034745 |
|  |  | &nbsp;&nbsp; 39430136 |
| **United Arab Emirates-2.97%** | **United Arab Emirates-2.97%** | **United Arab Emirates-2.97%** |
| &nbsp;&nbsp;&nbsp; Finance Department Government of <br> Sharjah<br>|  |  |
| &nbsp;&nbsp;&nbsp; 6.13%, 03/06/2036<sup>(a)(b)</sup> | 12510000 | &nbsp;&nbsp; 12864864 |
| &nbsp;&nbsp;&nbsp; 4.00%, 07/28/2050<sup>(a)</sup> | 19288000 | &nbsp;&nbsp; 12898593 |
| &nbsp;&nbsp;&nbsp; 4.38%, 03/10/2051<sup>(a)(b)</sup> | 17767000 | &nbsp;&nbsp; 12524630 |
|  |  | &nbsp;&nbsp; 38288087 |
| **Uzbekistan-3.15%** | **Uzbekistan-3.15%** | **Uzbekistan-3.15%** |
| Republic of Uzbekistan International Bond |  |  |
| &nbsp;&nbsp;&nbsp; 3.70%, 11/25/2030<sup>(a)(b)</sup> | 14692000 | &nbsp;&nbsp; 13766377 |
| &nbsp;&nbsp;&nbsp; 3.90%, 10/19/2031<sup>(a)</sup> | 14791000 | &nbsp;&nbsp; 13765882 |
| &nbsp;&nbsp;&nbsp; 6.90%, 02/28/2032<sup>(a)</sup> | 12152000 | &nbsp;&nbsp; 13089598 |
|  |  | &nbsp;&nbsp; 40621857 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total U.S. Dollar Denominated Bonds & Notes <br>(Cost $1,330,342,915) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total U.S. Dollar Denominated Bonds & Notes <br>(Cost $1,330,342,915) | &nbsp;&nbsp; 1268883776 |
|  | **Shares** |  |
| **Money Market Funds-0.35%** | **Money Market Funds-0.35%** | **Money Market Funds-0.35%** |
| &nbsp;&nbsp;&nbsp; Invesco Government & Agency Portfolio, <br> Institutional Class, 3.61%<sup>(c)(d)</sup> <br>(Cost $4,545,794)<br>| 4545794 | &nbsp;&nbsp; 4545794 |
| &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES <br>(excluding investments purchased with cash collateral <br> from securities on loan)-98.69% <br>(Cost $1,334,888,709) | &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES <br>(excluding investments purchased with cash collateral <br> from securities on loan)-98.69% <br>(Cost $1,334,888,709) | &nbsp;&nbsp; 1273429570 |
| **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-7.87%** | **Money Market Funds-7.87%** | **Money Market Funds-7.87%** |
| &nbsp;&nbsp;&nbsp; Invesco Private Government Fund, <br> 3.65%<sup>(c)(d)(e)</sup><br>| 28283454 | &nbsp;&nbsp; 28283454 |
| Invesco Private Prime Fund, 3.80%<sup>(c)(d)(e)</sup> | 73274707 | &nbsp;&nbsp; 73296689 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Investments Purchased with Cash Collateral from <br> Securities on Loan <br>(Cost $101,580,143) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Investments Purchased with Cash Collateral from <br> Securities on Loan <br>(Cost $101,580,143) | &nbsp;&nbsp; 101580143 |
| &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES-106.56% <br>(Cost $1,436,468,852) | &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES-106.56% <br>(Cost $1,436,468,852) | &nbsp;&nbsp; 1375009713 |
| OTHER ASSETS LESS LIABILITIES-(6.56)% | OTHER ASSETS LESS LIABILITIES-(6.56)% | &nbsp;&nbsp; (84630628)<br>|
| NET ASSETS-100.00% | NET ASSETS-100.00% | &nbsp;&nbsp; $1290379085 |

---

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

------

**Invesco Emerging Markets Sovereign Debt ETF (PCY)—(continued)**

January 31, 2026

*(Unaudited)*

---

| | |
|:---|:---|
| Notes to Schedule of Investments: | Notes to Schedule of Investments: |
| <sup>(a)</sup> | Security purchased or received in a transaction exempt from registration under the Securities Act of 1933, as amended (the "1933 Act"). The security may be <br> resold pursuant to an exemption from registration under the 1933 Act, typically to qualified institutional buyers. The aggregate value of these securities at <br> January 31, 2026 was $878,502,131, which represented 68.08% of the Fund's Net Assets.<br>|
| <sup>(b)</sup> | All or a portion of this security was out on loan at January 31, 2026. |
| <sup>(c)</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 January 31, 2026.<br>|

---

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

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Value** <br>**October 31, 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>**January 31, 2026**<br>| **Dividend Income** |
| **Investments in** <br> **Affiliated Money** <br> **Market Funds:**<br>|  |  |  |  |  |  |  |
| &nbsp;&nbsp; Invesco Government & <br> Agency Portfolio, <br> Institutional Class<br>| &nbsp;&nbsp;&nbsp; $3047458 | &nbsp;&nbsp;&nbsp; $23917739 | &nbsp;&nbsp;&nbsp; $(22419403)<br>| &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $4545794 | &nbsp;&nbsp;&nbsp; $37539 |
| **Investments** <br> **Purchased with Cash** <br> **Collateral from** <br> **Securities on Loan:**<br>|  |  |  |  |  |  |  |
| &nbsp;&nbsp; Invesco Private <br> Government Fund<br>| &nbsp;&nbsp;&nbsp; 22344225 | &nbsp;&nbsp;&nbsp; 97948564 | &nbsp;&nbsp;&nbsp; (92009335)<br>| &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; 28283454 | &nbsp;&nbsp;&nbsp; 245,661<br> \*<br>|
| &nbsp;&nbsp; Invesco Private Prime <br> Fund<br>| &nbsp;&nbsp;&nbsp; 58029735 | &nbsp;&nbsp;&nbsp; 107636725 | &nbsp;&nbsp;&nbsp; (92369771)<br>| &nbsp;&nbsp;&nbsp; 805 | &nbsp;&nbsp;&nbsp; (805)<br>| &nbsp;&nbsp;&nbsp; 73296689 | &nbsp;&nbsp;&nbsp; 640,487<br> \*<br>|
| &nbsp;&nbsp; Total | &nbsp;&nbsp;&nbsp; $83421418 | &nbsp;&nbsp;&nbsp; $229503028 | &nbsp;&nbsp;&nbsp; $(206798509)<br>| &nbsp;&nbsp;&nbsp; $805 | &nbsp;&nbsp;&nbsp; $(805)<br>| &nbsp;&nbsp;&nbsp; $106125937 | &nbsp;&nbsp;&nbsp; $923687 |

---

&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>(d)</sup> The rate shown is the 7-day SEC standardized yield as of January 31, 2026. <br> <sup>(e)</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

**Invesco Global ex-US High Yield Corporate Bond ETF (PGHY)**

January 31, 2026

*(Unaudited)*

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

---

| | | |
|:---|:---|:---|
|  | **Principal**<br> **Amount** | **Value** |
| **U.S. Dollar Denominated Bonds & Notes-96.84%** | **U.S. Dollar Denominated Bonds & Notes-96.84%** | **U.S. Dollar Denominated Bonds & Notes-96.84%** |
| **Angola-0.23%** | **Angola-0.23%** | **Angola-0.23%** |
| &nbsp;&nbsp;&nbsp; Azule Energy Finance PLC, 8.13%, <br> 01/23/2030<sup>(a)</sup><br>| $450000 | &nbsp;&nbsp; $455746 |
| **Argentina-2.83%** | **Argentina-2.83%** | **Argentina-2.83%** |
| Banco Macro S.A., 8.00%, 06/23/2029<sup>(a)</sup> | 200000 | &nbsp;&nbsp; 206500 |
| Pampa Energia S.A., 7.88%, 12/16/2034<sup>(a)</sup> | 300000 | &nbsp;&nbsp; 305940 |
| Pluspetrol S.A. |  |  |
| &nbsp;&nbsp;&nbsp; 8.13%, 05/18/2031<sup>(a)</sup> | 207000 | &nbsp;&nbsp; 209846 |
| &nbsp;&nbsp;&nbsp; 8.50%, 05/30/2032<sup>(a)</sup> | 280000 | &nbsp;&nbsp; 288160 |
| Tecpetrol S A, 7.63%, 11/03/2030<sup>(a)</sup> | 310000 | &nbsp;&nbsp; 310636 |
| Telecom Argentina S.A. |  |  |
| &nbsp;&nbsp;&nbsp; 9.50%, 07/18/2031<sup>(a)</sup> | 370000 | &nbsp;&nbsp; 395530 |
| &nbsp;&nbsp;&nbsp; 9.25%, 05/28/2033<sup>(a)</sup> | 430000 | &nbsp;&nbsp; 454606 |
| &nbsp;&nbsp;&nbsp; Transportadora de Gas del Sur S.A., 7.75%, <br> 11/20/2035<sup>(a)</sup><br>| 210000 | &nbsp;&nbsp; 210888 |
| Vista Energy Argentina S.A.U. |  |  |
| &nbsp;&nbsp;&nbsp; 8.50%, 06/10/2033<sup>(a)</sup> | 390000 | &nbsp;&nbsp; 406575 |
| &nbsp;&nbsp;&nbsp; 7.63%, 12/10/2035<sup>(a)</sup> | 240000 | &nbsp;&nbsp; 240480 |
| YPF S.A. |  |  |
| &nbsp;&nbsp;&nbsp; 6.95%, 07/21/2027<sup>(a)</sup> | 260000 | &nbsp;&nbsp; 262815 |
| &nbsp;&nbsp;&nbsp; 9.00%, 06/30/2029<sup>(a)</sup> | 285942 | &nbsp;&nbsp; 297136 |
| &nbsp;&nbsp;&nbsp; 9.50%, 01/17/2031<sup>(a)</sup> | 410000 | &nbsp;&nbsp; 434944 |
| &nbsp;&nbsp;&nbsp; 8.75%, 09/11/2031<sup>(a)</sup> | 435000 | &nbsp;&nbsp; 450209 |
| &nbsp;&nbsp;&nbsp; 7.00%, 09/30/2033<sup>(a)</sup> | 230000 | &nbsp;&nbsp; 226131 |
| &nbsp;&nbsp;&nbsp; 8.25%, 01/17/2034<sup>(a)</sup> | 719000 | &nbsp;&nbsp; 733778 |
| &nbsp;&nbsp;&nbsp; 7.00%, 12/15/2047<sup>(a)</sup> | 255000 | &nbsp;&nbsp; 228170 |
|  |  | &nbsp;&nbsp; 5662344 |
| **Australia-1.33%** | **Australia-1.33%** | **Australia-1.33%** |
| Fortescue Treasury Pty Ltd. |  |  |
| &nbsp;&nbsp;&nbsp; 4.50%, 09/15/2027<sup>(a)</sup> | 232000 | &nbsp;&nbsp; 232190 |
| &nbsp;&nbsp;&nbsp; 4.38%, 04/01/2031<sup>(a)</sup> | 420000 | &nbsp;&nbsp; 406182 |
| &nbsp;&nbsp;&nbsp; 6.13%, 04/15/2032<sup>(a)</sup> | 316000 | &nbsp;&nbsp; 329375 |
| &nbsp;&nbsp;&nbsp; Infrabuild Australia Pty Ltd., 14.50%, <br> 11/15/2028<sup>(a)</sup><br>| 293000 | &nbsp;&nbsp; 307470 |
| Mineral Resources Ltd. |  |  |
| &nbsp;&nbsp;&nbsp; 8.00%, 11/01/2027<sup>(a)</sup> | 293000 | &nbsp;&nbsp; 299904 |
| &nbsp;&nbsp;&nbsp; 9.25%, 10/01/2028<sup>(a)</sup> | 414000 | &nbsp;&nbsp; 435242 |
| &nbsp;&nbsp;&nbsp; 8.50%, 05/01/2030<sup>(a)</sup> | 342000 | &nbsp;&nbsp; 354838 |
| &nbsp;&nbsp;&nbsp; 7.00%, 04/01/2031<sup>(a)</sup> | 289000 | &nbsp;&nbsp; 303986 |
|  |  | &nbsp;&nbsp; 2669187 |
| **Austria-0.17%** | **Austria-0.17%** | **Austria-0.17%** |
| ams-OSRAM AG, 12.25%, 03/30/2029<sup>(a)</sup> | 320000 | &nbsp;&nbsp; 341623 |
| **Azerbaijan-0.18%** | **Azerbaijan-0.18%** | **Azerbaijan-0.18%** |
| &nbsp;&nbsp;&nbsp; State Oil Co. of the Azerbaijan Republic (The), <br> 6.95%, 03/18/2030<sup>(a)</sup><br>| 340000 | &nbsp;&nbsp; 367737 |
| **Bahrain-1.10%** | **Bahrain-1.10%** | **Bahrain-1.10%** |
| &nbsp;&nbsp;&nbsp; Bank of Bahrain and Kuwait B.S.C., 6.88%, <br> 06/06/2029<sup>(a)</sup><br>| 200000 | &nbsp;&nbsp; 206335 |
| Bapco Energies B.S.C. Closed |  |  |
| &nbsp;&nbsp;&nbsp; 7.50%, 10/25/2027<sup>(a)</sup> | 570000 | &nbsp;&nbsp; 588731 |
| &nbsp;&nbsp;&nbsp; 8.38%, 11/07/2028<sup>(a)</sup> | 200000 | &nbsp;&nbsp; 214936 |
| Bapco Energies Sukuk Ltd. |  |  |
| &nbsp;&nbsp;&nbsp; 5.25%, 04/08/2029<sup>(a)</sup> | 200000 | &nbsp;&nbsp; 198735 |
| &nbsp;&nbsp;&nbsp; 6.63%, 05/25/2033<sup>(a)(b)</sup> | 400000 | &nbsp;&nbsp; 421823 |
| &nbsp;&nbsp;&nbsp; 6.25%, 01/29/2035<sup>(a)(b)</sup> | 350000 | &nbsp;&nbsp; 360538 |
| &nbsp;&nbsp;&nbsp; GFH Senior Sukuk Ltd., 7.50%, <br> 11/06/2029<sup>(a)</sup><br>| 200000 | &nbsp;&nbsp; 203033 |
|  |  | &nbsp;&nbsp; 2194131 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal**<br> **Amount** | **Value** |
| **Belgium-0.20%** | **Belgium-0.20%** | **Belgium-0.20%** |
| &nbsp;&nbsp;&nbsp; Telenet Finance Luxembourg Notes S.a.r.l., <br> 5.50%, 03/01/2028<sup>(a)(b)</sup><br>| $400000 | &nbsp;&nbsp; $399947 |
| **Brazil-11.61%** | **Brazil-11.61%** | **Brazil-11.61%** |
| 3R Lux S.a.r.l., 9.75%, 02/05/2031<sup>(a)</sup> | 200000 | &nbsp;&nbsp; 208391 |
| &nbsp;&nbsp;&nbsp; Acu Petroleo (Luxembourg) S.a.r.l., 7.50%, <br> 01/13/2032<sup>(a)</sup><br>| 217058 | &nbsp;&nbsp; 223706 |
| Adecoagro S.A., 7.50%, 07/29/2032<sup>(a)</sup> | 210000 | &nbsp;&nbsp; 205714 |
| Aegea Finance S.a.r.l. |  |  |
| &nbsp;&nbsp;&nbsp; 9.00%, 01/20/2031<sup>(a)</sup> | 328000 | &nbsp;&nbsp; 348792 |
| &nbsp;&nbsp;&nbsp; 7.63%, 01/20/2036<sup>(a)</sup> | 315000 | &nbsp;&nbsp; 308045 |
| &nbsp;&nbsp;&nbsp; Amaggi (Luxembourg) International S.a.r.l., <br> 5.25%, 01/28/2028<sup>(a)</sup><br>| 360000 | &nbsp;&nbsp; 358313 |
| AXIA Energia |  |  |
| &nbsp;&nbsp;&nbsp; 4.63%, 02/04/2030<sup>(a)</sup> | 350000 | &nbsp;&nbsp; 339417 |
| &nbsp;&nbsp;&nbsp; 6.50%, 01/11/2035<sup>(a)</sup> | 460000 | &nbsp;&nbsp; 479573 |
| &nbsp;&nbsp;&nbsp; B3 S.A. - Brasil, Bolsa, Balcao, 4.13%, <br> 09/20/2031<sup>(a)</sup><br>| 260000 | &nbsp;&nbsp; 246721 |
| Banco Bradesco S.A. |  |  |
| &nbsp;&nbsp;&nbsp; 4.38%, 03/18/2027<sup>(a)</sup> | 220000 | &nbsp;&nbsp; 220204 |
| &nbsp;&nbsp;&nbsp; 6.50%, 01/22/2030<sup>(a)</sup> | 440000 | &nbsp;&nbsp; 462194 |
| Banco BTG Pactual S.A. |  |  |
| &nbsp;&nbsp;&nbsp; 6.25%, 04/08/2029<sup>(a)</sup> | 170000 | &nbsp;&nbsp; 175756 |
| &nbsp;&nbsp;&nbsp; 5.75%, 01/22/2030<sup>(a)</sup> | 200000 | &nbsp;&nbsp; 203200 |
| Banco do Brasil S.A. |  |  |
| &nbsp;&nbsp;&nbsp; 3.25%, 09/30/2026<sup>(a)(b)</sup> | 460000 | &nbsp;&nbsp; 457209 |
| &nbsp;&nbsp;&nbsp; 4.88%, 01/11/2029<sup>(a)</sup> | 220000 | &nbsp;&nbsp; 219479 |
| &nbsp;&nbsp;&nbsp; 6.25%, 04/18/2030<sup>(a)</sup> | 290000 | &nbsp;&nbsp; 301391 |
| &nbsp;&nbsp;&nbsp; 6.00%, 03/18/2031<sup>(a)(b)</sup> | 340000 | &nbsp;&nbsp; 349559 |
| &nbsp;&nbsp;&nbsp; Banco Votorantim S.A., 5.88%, <br> 04/08/2028<sup>(a)</sup><br>| 200000 | &nbsp;&nbsp; 203800 |
| &nbsp;&nbsp;&nbsp; Braskem America Finance Co., 7.13%, <br> 07/22/2041<sup>(a)</sup><br>| 235000 | &nbsp;&nbsp; 94078 |
| BRF S.A. |  |  |
| &nbsp;&nbsp;&nbsp; 4.88%, 01/24/2030<sup>(a)</sup> | 260000 | &nbsp;&nbsp; 252456 |
| &nbsp;&nbsp;&nbsp; 5.75%, 09/21/2050<sup>(a)</sup> | 360000 | &nbsp;&nbsp; 298485 |
| &nbsp;&nbsp;&nbsp; Caixa Economica Federal, 5.63%, <br> 05/13/2030<sup>(a)</sup><br>| 400000 | &nbsp;&nbsp; 406002 |
| &nbsp;&nbsp;&nbsp; Constellation Oil Services Holding S.A., 9.38%, <br> 11/07/2029<sup>(a)</sup><br>| 300000 | &nbsp;&nbsp; 313920 |
| &nbsp;&nbsp;&nbsp; Cosan (Luxembourg) S.A., 5.50%, <br> 09/20/2029<sup>(a)</sup><br>| 180000 | &nbsp;&nbsp; 182813 |
| CSN Inova Ventures, 6.75%, 01/28/2028<sup>(a)</sup> | 580000 | &nbsp;&nbsp; 555196 |
| CSN Resources S.A. |  |  |
| &nbsp;&nbsp;&nbsp; 8.88%, 12/05/2030<sup>(a)</sup> | 300000 | &nbsp;&nbsp; 289574 |
| &nbsp;&nbsp;&nbsp; 4.63%, 06/10/2031<sup>(a)</sup> | 380000 | &nbsp;&nbsp; 298552 |
| &nbsp;&nbsp;&nbsp; 5.88%, 04/08/2032<sup>(a)</sup> | 220000 | &nbsp;&nbsp; 178894 |
| &nbsp;&nbsp;&nbsp; Eldorado Intl. Finance GmbH, 8.50%, <br> 12/01/2032<sup>(a)</sup><br>| 218000 | &nbsp;&nbsp; 226655 |
| &nbsp;&nbsp;&nbsp; FS Luxembourg S.a.r.l., 8.63%, <br> 06/25/2033<sup>(a)</sup><br>| 210000 | &nbsp;&nbsp; 217268 |
| Gol Finance, Inc., 14.38%, 06/06/2030<sup>(a)</sup> | 900000 | &nbsp;&nbsp; 932625 |
| &nbsp;&nbsp;&nbsp; Itau Unibanco Holding S.A., 6.00%, <br> 02/27/2030<sup>(a)</sup><br>| 400000 | &nbsp;&nbsp; 417274 |
| Klabin Austria GmbH |  |  |
| &nbsp;&nbsp;&nbsp; 5.75%, 04/03/2029<sup>(a)</sup> | 330000 | &nbsp;&nbsp; 336666 |
| &nbsp;&nbsp;&nbsp; 3.20%, 01/12/2031<sup>(a)</sup> | 200000 | &nbsp;&nbsp; 181619 |
| &nbsp;&nbsp;&nbsp; 7.00%, 04/03/2049<sup>(a)</sup> | 297000 | &nbsp;&nbsp; 307705 |
| &nbsp;&nbsp;&nbsp; LD Celulose International GmbH, 7.95%, <br> 01/26/2032<sup>(a)(b)</sup><br>| 270000 | &nbsp;&nbsp; 284534 |
| MARB BondCo PLC, 3.95%, 01/29/2031<sup>(a)(b)</sup> | 505000 | &nbsp;&nbsp; 457508 |

---

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

------

**Invesco Global ex-US High Yield Corporate Bond ETF (PGHY)—(continued)**

January 31, 2026

*(Unaudited)*

---

| | | | |
|:---|:---|:---|:---|
|  | **Principal**<br> **Amount** | **Principal**<br> **Amount** | **Value** |
| **Brazil-(continued)** | **Brazil-(continued)** | **Brazil-(continued)** | **Brazil-(continued)** |
| &nbsp;&nbsp;&nbsp; MC Brazil Downstream Trading S.a.r.l., 7.25%, <br> 06/30/2031<sup>(a)</sup><br>| $| 714061 | &nbsp;&nbsp; $635114 |
| Minerva (Luxembourg) S.A. |  |  |  |
| &nbsp;&nbsp;&nbsp; 4.38%, 03/18/2031<sup>(a)(b)</sup> |  | 438000 | &nbsp;&nbsp; 408535 |
| &nbsp;&nbsp;&nbsp; 8.88%, 09/13/2033<sup>(a)</sup> |  | 500000 | &nbsp;&nbsp; 546586 |
| Movida Europe S.A., 7.85%, 04/11/2029<sup>(a)</sup> |  | 200000 | &nbsp;&nbsp; 194093 |
| MV24 Capital B.V., 6.75%, 06/01/2034<sup>(a)</sup> |  | 347015 | &nbsp;&nbsp; 351651 |
| Oceanica Lux S.a.r.l., 13.00%, 10/02/2029<sup>(a)</sup> |  | 300000 | &nbsp;&nbsp; 312000 |
| Petrobras Global Finance B.V. |  |  |  |
| &nbsp;&nbsp;&nbsp; 7.38%, 01/17/2027 |  | 235000 | &nbsp;&nbsp; 242366 |
| &nbsp;&nbsp;&nbsp; 6.00%, 01/27/2028 |  | 398000 | &nbsp;&nbsp; 407515 |
| &nbsp;&nbsp;&nbsp; 5.13%, 09/10/2030 |  | 350000 | &nbsp;&nbsp; 346657 |
| &nbsp;&nbsp;&nbsp; 5.60%, 01/03/2031 |  | 277000 | &nbsp;&nbsp; 279527 |
| &nbsp;&nbsp;&nbsp; 6.50%, 07/03/2033 |  | 340000 | &nbsp;&nbsp; 355206 |
| &nbsp;&nbsp;&nbsp; 6.00%, 01/13/2035 |  | 335000 | &nbsp;&nbsp; 333869 |
| &nbsp;&nbsp;&nbsp; 6.25%, 01/10/2036 |  | 350000 | &nbsp;&nbsp; 344312 |
| &nbsp;&nbsp;&nbsp; 6.88%, 01/20/2040 |  | 268000 | &nbsp;&nbsp; 272936 |
| &nbsp;&nbsp;&nbsp; 6.75%, 01/27/2041 |  | 253000 | &nbsp;&nbsp; 254356 |
| &nbsp;&nbsp;&nbsp; 7.25%, 03/17/2044 |  | 296000 | &nbsp;&nbsp; 307202 |
| &nbsp;&nbsp;&nbsp; 5.50%, 06/10/2051<sup>(b)</sup> |  | 211000 | &nbsp;&nbsp; 175361 |
| &nbsp;&nbsp;&nbsp; 6.85%, 06/05/2115 |  | 507000 | &nbsp;&nbsp; 481189 |
| &nbsp;&nbsp;&nbsp; Prio Luxembourg Holding S.a.r.l., 6.75%, <br> 10/15/2030<sup>(a)</sup><br>|  | 290000 | &nbsp;&nbsp; 289203 |
| Rede D'Or Finance S.a.r.l. |  |  |  |
| &nbsp;&nbsp;&nbsp; 4.95%, 01/17/2028<sup>(a)</sup> |  | 220000 | &nbsp;&nbsp; 220474 |
| &nbsp;&nbsp;&nbsp; 4.50%, 01/22/2030<sup>(a)</sup> |  | 360000 | &nbsp;&nbsp; 351370 |
| &nbsp;&nbsp;&nbsp; 6.45%, 09/09/2035<sup>(a)</sup> |  | 200000 | &nbsp;&nbsp; 204730 |
| Rumo Luxembourg S.a.r.l. |  |  |  |
| &nbsp;&nbsp;&nbsp; 5.25%, 01/10/2028<sup>(a)</sup> |  | 220000 | &nbsp;&nbsp; 220142 |
| &nbsp;&nbsp;&nbsp; 4.20%, 01/18/2032<sup>(a)</sup> |  | 200000 | &nbsp;&nbsp; 184815 |
| Sabesp Lux S.a.r.l., 5.63%, 08/20/2030<sup>(a)</sup> |  | 210000 | &nbsp;&nbsp; 210788 |
| &nbsp;&nbsp;&nbsp; Samarco Mineracao S.A., 9.00% PIK Rate, <br> 0.50% Cash Rate, 06/30/2031<sup>(a)(c)</sup><br>|  | 2011031 | &nbsp;&nbsp; 2020167 |
| Simpar Europe S.A., 5.20%, 01/26/2031<sup>(a)</sup> |  | 230000 | &nbsp;&nbsp; 191188 |
| &nbsp;&nbsp;&nbsp; Usiminas International S.a.r.l., 7.50%, <br> 01/27/2032<sup>(a)</sup><br>|  | 200000 | &nbsp;&nbsp; 207725 |
| XP, Inc., 6.75%, 07/02/2029<sup>(a)</sup> |  | 220000 | &nbsp;&nbsp; 228325 |
| &nbsp;&nbsp;&nbsp; Yinson Bergenia Production B.V., 8.50%, <br> 01/31/2045<sup>(a)</sup><br>|  | 480000 | &nbsp;&nbsp; 522285 |
| &nbsp;&nbsp;&nbsp; Yinson Boronia Production B.V., 8.95%, <br> 07/31/2042<sup>(a)</sup><br>|  | 539600 | &nbsp;&nbsp; 599989 |
|  |  |  | &nbsp;&nbsp; 23242964 |
| **Cameroon-0.10%** | **Cameroon-0.10%** | **Cameroon-0.10%** | **Cameroon-0.10%** |
| Golar LNG Ltd., 7.50%, 10/02/2030<sup>(a)</sup> |  | 200000 | &nbsp;&nbsp; 200311 |
| **Canada-10.83%** | **Canada-10.83%** | **Canada-10.83%** | **Canada-10.83%** |
| 1011778 BC ULC/New Red Finance, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp; 3.88%, 01/15/2028<sup>(a)</sup> |  | 703000 | &nbsp;&nbsp; 692909 |
| &nbsp;&nbsp;&nbsp; 4.38%, 01/15/2028<sup>(a)</sup> |  | 317000 | &nbsp;&nbsp; 315320 |
| &nbsp;&nbsp;&nbsp; 3.50%, 02/15/2029<sup>(a)</sup> |  | 387000 | &nbsp;&nbsp; 373213 |
| &nbsp;&nbsp;&nbsp; 6.13%, 06/15/2029<sup>(a)</sup> |  | 500000 | &nbsp;&nbsp; 512949 |
| &nbsp;&nbsp;&nbsp; 5.63%, 09/15/2029<sup>(a)</sup> |  | 225000 | &nbsp;&nbsp; 229089 |
| &nbsp;&nbsp;&nbsp; 4.00%, 10/15/2030<sup>(a)</sup> |  | 1262000 | &nbsp;&nbsp; 1204846 |
| Air Canada, 3.88%, 08/15/2026<sup>(a)</sup> |  | 563000 | &nbsp;&nbsp; 561192 |
| &nbsp;&nbsp;&nbsp; Algonquin Power & Utilities Corp., 4.75%, <br> 01/18/2082<sup>(b)(d)</sup><br>|  | 292000 | &nbsp;&nbsp; 290064 |
| AltaGas Ltd., 7.20%, 10/15/2054<sup>(a)(d)</sup> |  | 366000 | &nbsp;&nbsp; 380845 |
| &nbsp;&nbsp;&nbsp; Baffinland Iron Mines Corp./Baffinland Iron <br> Mines L.P., 8.75%, 07/15/2026<sup>(a)</sup><br>|  | 220000 | &nbsp;&nbsp; 191682 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal**<br> **Amount** | **Value** |
| **Canada-(continued)** | **Canada-(continued)** | **Canada-(continued)** |
| Bell Canada |  |  |
| &nbsp;&nbsp;&nbsp; 6.88%, 09/15/2055<sup>(d)</sup> | $410000 | &nbsp;&nbsp; $425056 |
| &nbsp;&nbsp;&nbsp; 7.00%, 09/15/2055<sup>(d)</sup> | 613000 | &nbsp;&nbsp; 643147 |
| Bombardier, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 6.00%, 02/15/2028<sup>(a)</sup> | 195000 | &nbsp;&nbsp; 195414 |
| &nbsp;&nbsp;&nbsp; 7.50%, 02/01/2029<sup>(a)</sup> | 337000 | &nbsp;&nbsp; 350274 |
| &nbsp;&nbsp;&nbsp; 8.75%, 11/15/2030<sup>(a)</sup> | 310000 | &nbsp;&nbsp; 332604 |
| &nbsp;&nbsp;&nbsp; 7.25%, 07/01/2031<sup>(a)</sup> | 350000 | &nbsp;&nbsp; 372020 |
| &nbsp;&nbsp;&nbsp; 7.00%, 06/01/2032<sup>(a)</sup> | 305000 | &nbsp;&nbsp; 320545 |
| &nbsp;&nbsp;&nbsp; 6.75%, 06/15/2033<sup>(a)</sup> | 320000 | &nbsp;&nbsp; 336525 |
| &nbsp;&nbsp;&nbsp; 7.45%, 05/01/2034<sup>(a)</sup> | 209000 | &nbsp;&nbsp; 234235 |
| &nbsp;&nbsp;&nbsp; Brookfield Residential Properties, <br> Inc./Brookfield Residential U.S. LLC<br>|  |  |
| &nbsp;&nbsp;&nbsp; 6.25%, 09/15/2027<sup>(a)</sup> | 240000 | &nbsp;&nbsp; 240174 |
| &nbsp;&nbsp;&nbsp; 4.88%, 02/15/2030<sup>(a)</sup> | 190000 | &nbsp;&nbsp; 177536 |
| &nbsp;&nbsp;&nbsp; Capstone Copper Corp., 6.75%, <br> 03/31/2033<sup>(a)</sup><br>| 240000 | &nbsp;&nbsp; 248833 |
| &nbsp;&nbsp;&nbsp; Champion Iron Canada, Inc., 7.88%, <br> 07/15/2032<sup>(a)</sup><br>| 210000 | &nbsp;&nbsp; 224790 |
| Dye & Durham Ltd., 8.63%, 04/15/2029<sup>(a)</sup> | 228000 | &nbsp;&nbsp; 205283 |
| &nbsp;&nbsp;&nbsp; Emera, Inc., Series 16-A, 6.75%, <br> 06/15/2076<sup>(d)</sup><br>| 570000 | &nbsp;&nbsp; 574165 |
| Garda World Security Corp. |  |  |
| &nbsp;&nbsp;&nbsp; 6.00%, 06/01/2029<sup>(a)</sup> | 200000 | &nbsp;&nbsp; 196946 |
| &nbsp;&nbsp;&nbsp; 6.50%, 01/15/2031<sup>(a)</sup> | 275000 | &nbsp;&nbsp; 282070 |
| &nbsp;&nbsp;&nbsp; 8.25%, 08/01/2032<sup>(a)</sup> | 300000 | &nbsp;&nbsp; 306735 |
| &nbsp;&nbsp;&nbsp; 8.38%, 11/15/2032<sup>(a)</sup> | 500000 | &nbsp;&nbsp; 513708 |
| goeasy Ltd. |  |  |
| &nbsp;&nbsp;&nbsp; 9.25%, 12/01/2028<sup>(a)</sup> | 224000 | &nbsp;&nbsp; 230467 |
| &nbsp;&nbsp;&nbsp; 7.63%, 07/01/2029<sup>(a)</sup> | 300000 | &nbsp;&nbsp; 297291 |
| &nbsp;&nbsp;&nbsp; Great Canadian Gaming Corp., 8.75%, <br> 11/15/2029<sup>(a)</sup><br>| 300000 | &nbsp;&nbsp; 305254 |
| Hudbay Minerals, Inc., 6.13%, 04/01/2029<sup>(a)</sup> | 232000 | &nbsp;&nbsp; 234307 |
| Ivanhoe Mines Ltd., 7.88%, 01/23/2030<sup>(a)</sup> | 400000 | &nbsp;&nbsp; 417069 |
| &nbsp;&nbsp;&nbsp; Jones Deslauriers Insurance Management, <br> Inc., 8.50%, 03/15/2030<sup>(a)</sup><br>| 376000 | &nbsp;&nbsp; 393376 |
| &nbsp;&nbsp;&nbsp; Kronos Acquisition Holdings, Inc., 8.25%, <br> 06/30/2031<sup>(a)</sup><br>| 300000 | &nbsp;&nbsp; 211875 |
| Mattamy Group Corp., 4.63%, 03/01/2030<sup>(a)</sup> | 230000 | &nbsp;&nbsp; 224771 |
| Methanex Corp. |  |  |
| &nbsp;&nbsp;&nbsp; 5.13%, 10/15/2027 | 305000 | &nbsp;&nbsp; 306014 |
| &nbsp;&nbsp;&nbsp; 5.25%, 12/15/2029<sup>(b)</sup> | 295000 | &nbsp;&nbsp; 296848 |
| &nbsp;&nbsp;&nbsp; New Flyer Holdings, Inc., 9.25%, <br> 07/01/2030<sup>(a)</sup><br>| 244000 | &nbsp;&nbsp; 263049 |
| &nbsp;&nbsp;&nbsp; Northriver Midstream Finance L.P., 6.75%, <br> 07/15/2032<sup>(a)</sup><br>| 250000 | &nbsp;&nbsp; 254533 |
| NOVA Chemicals Corp. |  |  |
| &nbsp;&nbsp;&nbsp; 5.25%, 06/01/2027<sup>(a)</sup> | 507000 | &nbsp;&nbsp; 509635 |
| &nbsp;&nbsp;&nbsp; 4.25%, 05/15/2029<sup>(a)</sup> | 220000 | &nbsp;&nbsp; 214705 |
| &nbsp;&nbsp;&nbsp; 9.00%, 02/15/2030<sup>(a)</sup> | 275000 | &nbsp;&nbsp; 293612 |
| Open Text Corp. |  |  |
| &nbsp;&nbsp;&nbsp; 3.88%, 02/15/2028<sup>(a)</sup> | 400000 | &nbsp;&nbsp; 387483 |
| &nbsp;&nbsp;&nbsp; 3.88%, 12/01/2029<sup>(a)</sup> | 391000 | &nbsp;&nbsp; 363141 |
| Open Text Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 4.13%, 02/15/2030<sup>(a)</sup> | 452000 | &nbsp;&nbsp; 420290 |
| &nbsp;&nbsp;&nbsp; 4.13%, 12/01/2031<sup>(a)</sup> | 253000 | &nbsp;&nbsp; 227515 |
| RB Global Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 6.75%, 03/15/2028<sup>(a)(b)</sup> | 210000 | &nbsp;&nbsp; 214165 |
| &nbsp;&nbsp;&nbsp; 7.75%, 03/15/2031<sup>(a)</sup> | 408000 | &nbsp;&nbsp; 425804 |
| Rogers Communications, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 7.00%, 04/15/2055<sup>(b)(d)</sup> | 450000 | &nbsp;&nbsp; 466975 |

---

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

------

**Invesco Global ex-US High Yield Corporate Bond ETF (PGHY)—(continued)**

January 31, 2026

*(Unaudited)*

---

| | | | |
|:---|:---|:---|:---|
|  | **Principal**<br> **Amount** | **Principal**<br> **Amount** | **Value** |
| **Canada-(continued)** | **Canada-(continued)** | **Canada-(continued)** | **Canada-(continued)** |
| &nbsp;&nbsp;&nbsp; 7.13%, 04/15/2055<sup>(b)(d)</sup> | $| 410000 | &nbsp;&nbsp; $430122 |
| &nbsp;&nbsp;&nbsp; 5.25%, 03/15/2082<sup>(a)(d)</sup> |  | 302000 | &nbsp;&nbsp; 301849 |
| Saturn Oil & Gas, Inc., 9.63%, 06/15/2029<sup>(a)</sup> |  | 218000 | &nbsp;&nbsp; 223183 |
| &nbsp;&nbsp;&nbsp; South Bow Canadian Infrastructure Holdings <br> Ltd., 7.50%, 03/01/2055<sup>(d)</sup><br>|  | 450000 | &nbsp;&nbsp; 475973 |
| &nbsp;&nbsp;&nbsp; Superior Plus L.P./Superior General Partner, <br> Inc., 4.50%, 03/15/2029<sup>(a)</sup><br>|  | 230000 | &nbsp;&nbsp; 224840 |
| Taseko Mines Ltd., 8.25%, 05/01/2030<sup>(a)</sup> |  | 200000 | &nbsp;&nbsp; 212538 |
| TELUS Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp; 6.63%, 10/15/2055<sup>(b)(d)</sup> |  | 290000 | &nbsp;&nbsp; 296729 |
| &nbsp;&nbsp;&nbsp; 7.00%, 10/15/2055<sup>(b)(d)</sup> |  | 330000 | &nbsp;&nbsp; 345291 |
| &nbsp;&nbsp;&nbsp; 6.38%, 06/09/2056<sup>(d)</sup> |  | 350000 | &nbsp;&nbsp; 353743 |
| &nbsp;&nbsp;&nbsp; 6.63%, 06/09/2056<sup>(d)</sup> |  | 330000 | &nbsp;&nbsp; 331582 |
| &nbsp;&nbsp;&nbsp; Toucan FinCo Ltd./Toucan FinCo Can, <br> Inc./Toucan FinCo US LLC, 9.50%, <br> 05/15/2030<sup>(a)(b)</sup><br>|  | 400000 | &nbsp;&nbsp; 386391 |
| &nbsp;&nbsp;&nbsp; Wrangler Holdco Corp., 6.63%, <br> 04/01/2032<sup>(a)</sup><br>|  | 200000 | &nbsp;&nbsp; 208248 |
|  |  |  | &nbsp;&nbsp; 21680837 |
| **Cayman Islands-0.24%** | **Cayman Islands-0.24%** | **Cayman Islands-0.24%** | **Cayman Islands-0.24%** |
| &nbsp;&nbsp;&nbsp; Global Aircraft Leasing Co. Ltd., 8.75%, <br> 09/01/2027<sup>(a)(b)</sup><br>|  | 463000 | &nbsp;&nbsp; 479844 |
| **Chile-1.04%** | **Chile-1.04%** | **Chile-1.04%** | **Chile-1.04%** |
| AES Andes S.A., 8.15%, 06/10/2055<sup>(a)(d)</sup> |  | 200000 | &nbsp;&nbsp; 212982 |
| Agrosuper S.A., 4.60%, 01/20/2032<sup>(a)</sup> |  | 220000 | &nbsp;&nbsp; 211286 |
| Falabella S.A., 3.38%, 01/15/2032<sup>(a)</sup> |  | 290000 | &nbsp;&nbsp; 261615 |
| &nbsp;&nbsp;&nbsp; Inversiones CMPC S.A., 6.70%, <br> 12/09/2057<sup>(a)(d)</sup><br>|  | 250000 | &nbsp;&nbsp; 253125 |
| LATAM Airlines Group S.A. |  |  |  |
| &nbsp;&nbsp;&nbsp; 7.88%, 04/15/2030<sup>(a)</sup> |  | 600000 | &nbsp;&nbsp; 630258 |
| &nbsp;&nbsp;&nbsp; 7.63%, 01/07/2031<sup>(a)</sup> |  | 300000 | &nbsp;&nbsp; 315375 |
| &nbsp;&nbsp;&nbsp; Telefonica Moviles Chile S.A., 3.54%, <br> 11/18/2031<sup>(a)</sup><br>|  | 280000 | &nbsp;&nbsp; 199992 |
|  |  |  | &nbsp;&nbsp; 2084633 |
| **China-2.44%** | **China-2.44%** | **China-2.44%** | **China-2.44%** |
| CFAMC III Co. Ltd. |  |  |  |
| &nbsp;&nbsp;&nbsp; 4.75%, 04/27/2027<sup>(a)</sup> |  | 300000 | &nbsp;&nbsp; 301429 |
| &nbsp;&nbsp;&nbsp; 4.25%, 11/07/2027<sup>(a)</sup> |  | 500000 | &nbsp;&nbsp; 498536 |
| CFAMC IV Co. Ltd., 4.50%, 05/29/2029<sup>(a)</sup> |  | 200000 | &nbsp;&nbsp; 199493 |
| Fortune Star (BVI) Ltd. |  |  |  |
| &nbsp;&nbsp;&nbsp; 5.05%, 01/27/2027<sup>(a)</sup> |  | 220000 | &nbsp;&nbsp; 216251 |
| &nbsp;&nbsp;&nbsp; 8.50%, 05/19/2028<sup>(a)</sup> |  | 200000 | &nbsp;&nbsp; 206993 |
| Franshion Brilliant Ltd. |  |  |  |
| &nbsp;&nbsp;&nbsp; 4.25%, 07/23/2029<sup>(a)</sup> |  | 200000 | &nbsp;&nbsp; 185258 |
| &nbsp;&nbsp;&nbsp; 6.00%<sup>(a)(d)(e)</sup> |  | 220000 | &nbsp;&nbsp; 219930 |
| &nbsp;&nbsp;&nbsp; Greentown China Holdings Ltd., 8.45%, <br> 02/24/2028<sup>(a)</sup><br>|  | 200000 | &nbsp;&nbsp; 204867 |
| &nbsp;&nbsp;&nbsp; Industrial and Commercial Bank of China Ltd., <br> 3.20%<sup>(a)(d)(e)</sup><br>|  | 2682000 | &nbsp;&nbsp; 2665826 |
| &nbsp;&nbsp;&nbsp; Longfor Group Holdings Ltd., 4.50%, <br> 01/16/2028<sup>(a)</sup><br>|  | 200000 | &nbsp;&nbsp; 185735 |
|  |  |  | &nbsp;&nbsp; 4884318 |
| **Colombia-4.09%** | **Colombia-4.09%** | **Colombia-4.09%** | **Colombia-4.09%** |
| &nbsp;&nbsp;&nbsp; AI Candelaria (Spain) S.A., 5.75%, <br> 06/15/2033<sup>(a)</sup><br>|  | 295000 | &nbsp;&nbsp; 263879 |
| &nbsp;&nbsp;&nbsp; Banco Davivienda S.A., 8.13%, <br> 07/02/2035<sup>(a)(d)</sup><br>|  | 200000 | &nbsp;&nbsp; 209000 |
| Banco de Bogota S.A., 6.25%, 05/12/2026<sup>(a)</sup> |  | 490000 | &nbsp;&nbsp; 492760 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | **Principal**<br> **Amount** | **Principal**<br> **Amount** | **Value** |
| **Colombia-(continued)** | **Colombia-(continued)** | **Colombia-(continued)** | **Colombia-(continued)** |
| &nbsp;&nbsp;&nbsp; Colombia Telecomunicaciones S.A. E.S.P., <br> 4.95%, 07/17/2030<sup>(a)</sup><br>| $| 207000 | &nbsp;&nbsp; $193796 |
| Ecopetrol S.A. |  |  |  |
| &nbsp;&nbsp;&nbsp; 8.63%, 01/19/2029 |  | 339000 | &nbsp;&nbsp; 363392 |
| &nbsp;&nbsp;&nbsp; 6.88%, 04/29/2030 |  | 591000 | &nbsp;&nbsp; 597897 |
| &nbsp;&nbsp;&nbsp; 4.63%, 11/02/2031 |  | 410000 | &nbsp;&nbsp; 368689 |
| &nbsp;&nbsp;&nbsp; 7.75%, 02/01/2032 |  | 480000 | &nbsp;&nbsp; 493187 |
| &nbsp;&nbsp;&nbsp; 8.88%, 01/13/2033 |  | 660000 | &nbsp;&nbsp; 709824 |
| &nbsp;&nbsp;&nbsp; 8.38%, 01/19/2036 |  | 550000 | &nbsp;&nbsp; 569386 |
| &nbsp;&nbsp;&nbsp; 7.38%, 09/18/2043 |  | 208000 | &nbsp;&nbsp; 191623 |
| &nbsp;&nbsp;&nbsp; 5.88%, 05/28/2045 |  | 570000 | &nbsp;&nbsp; 431100 |
| &nbsp;&nbsp;&nbsp; 5.88%, 11/02/2051<sup>(b)</sup> |  | 230000 | &nbsp;&nbsp; 166210 |
| Empresas Publicas de Medellin E.S.P. |  |  |  |
| &nbsp;&nbsp;&nbsp; 4.25%, 07/18/2029<sup>(a)</sup> |  | 400000 | &nbsp;&nbsp; 376875 |
| &nbsp;&nbsp;&nbsp; 4.38%, 02/15/2031<sup>(a)(b)</sup> |  | 260000 | &nbsp;&nbsp; 236914 |
| &nbsp;&nbsp;&nbsp; EnfraGen Energia Sur S.A./EnfraGen Spain <br> S.A./Prime Energia S.p.A., 5.38%, <br> 12/30/2030<sup>(a)</sup><br>|  | 295000 | &nbsp;&nbsp; 275434 |
| &nbsp;&nbsp;&nbsp; Gran Tierra Energy, Inc., 9.50%, <br> 10/15/2029<sup>(a)</sup><br>|  | 300000 | &nbsp;&nbsp; 239997 |
| Grupo Aval Ltd., 4.38%, 02/04/2030<sup>(a)</sup> |  | 450000 | &nbsp;&nbsp; 423430 |
| Grupo Nutresa S.A. |  |  |  |
| &nbsp;&nbsp;&nbsp; 8.00%, 05/12/2030<sup>(a)</sup> |  | 600000 | &nbsp;&nbsp; 639885 |
| &nbsp;&nbsp;&nbsp; 9.00%, 05/12/2035<sup>(a)</sup> |  | 600000 | &nbsp;&nbsp; 670500 |
| &nbsp;&nbsp;&nbsp; SierraCol Energy Andina LLC/SierraCol Energy <br> Arauca/Colombia Energy Development, <br> 9.00%, 11/14/2030<sup>(a)</sup><br>|  | 270000 | &nbsp;&nbsp; 270446 |
|  |  |  | &nbsp;&nbsp; 8184224 |
| **Costa Rica-0.11%** | **Costa Rica-0.11%** | **Costa Rica-0.11%** | **Costa Rica-0.11%** |
| &nbsp;&nbsp;&nbsp; Instituto Costarricense de Electricidad, 6.38%, <br> 05/15/2043<sup>(a)</sup><br>|  | 220000 | &nbsp;&nbsp; 219087 |
| **Czech Republic-0.21%** | **Czech Republic-0.21%** | **Czech Republic-0.21%** | **Czech Republic-0.21%** |
| &nbsp;&nbsp;&nbsp; Czechoslovak Group A.S., 6.50%, <br> 01/10/2031<sup>(a)</sup><br>|  | 400000 | &nbsp;&nbsp; 417880 |
| **Denmark-0.58%** | **Denmark-0.58%** | **Denmark-0.58%** | **Denmark-0.58%** |
| &nbsp;&nbsp;&nbsp; GENMAB A/S/GENMAB FINANCE LLC, 7.25%, <br> 12/15/2033<sup>(a)</sup><br>|  | 1100000 | &nbsp;&nbsp; 1164960 |
| **Dominican Republic-0.10%** | **Dominican Republic-0.10%** | **Dominican Republic-0.10%** | **Dominican Republic-0.10%** |
| &nbsp;&nbsp;&nbsp; Aeropuertos Dominicanos Siglo XXI S.A., <br> 7.00%, 06/30/2034<sup>(a)</sup><br>|  | 200000 | &nbsp;&nbsp; 209955 |
| **Finland-0.18%** | **Finland-0.18%** | **Finland-0.18%** | **Finland-0.18%** |
| Amer Sports Co., 6.75%, 02/16/2031<sup>(a)</sup> |  | 340000 | &nbsp;&nbsp; 354404 |
| **France-2.87%** | **France-2.87%** | **France-2.87%** | **France-2.87%** |
| Altice France S.A. |  |  |  |
| &nbsp;&nbsp;&nbsp; 9.50%, 11/01/2029<sup>(a)</sup> |  | 657221 | &nbsp;&nbsp; 674862 |
| &nbsp;&nbsp;&nbsp; 6.88%, 10/15/2030<sup>(a)</sup> |  | 345338 | &nbsp;&nbsp; 339793 |
| &nbsp;&nbsp;&nbsp; 6.50%, 04/15/2032<sup>(a)</sup> |  | 826401 | &nbsp;&nbsp; 807646 |
| &nbsp;&nbsp;&nbsp; 6.88%, 07/15/2032<sup>(a)</sup> |  | 677433 | &nbsp;&nbsp; 661902 |
| &nbsp;&nbsp;&nbsp; Calderys Financing LLC, 11.25%, <br> 06/01/2028<sup>(a)</sup><br>|  | 310000 | &nbsp;&nbsp; 323380 |
| Electricite de France S.A., 9.13%<sup>(a)(d)(e)</sup> |  | 670000 | &nbsp;&nbsp; 793391 |
| Forvia SE |  |  |  |
| &nbsp;&nbsp;&nbsp; 8.00%, 06/15/2030<sup>(a)</sup> |  | 200000 | &nbsp;&nbsp; 213620 |
| &nbsp;&nbsp;&nbsp; 6.75%, 09/15/2033<sup>(a)</sup> |  | 200000 | &nbsp;&nbsp; 205210 |
| Iliad Holding S.A.S.U. |  |  |  |
| &nbsp;&nbsp;&nbsp; 7.00%, 10/15/2028<sup>(a)</sup> |  | 350000 | &nbsp;&nbsp; 354282 |

---

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

------

**Invesco Global ex-US High Yield Corporate Bond ETF (PGHY)—(continued)**

January 31, 2026

*(Unaudited)*

---

| | | | |
|:---|:---|:---|:---|
|  | **Principal**<br> **Amount** | **Principal**<br> **Amount** | **Value** |
| **France-(continued)** | **France-(continued)** | **France-(continued)** | **France-(continued)** |
| &nbsp;&nbsp;&nbsp; 8.50%, 04/15/2031<sup>(a)</sup> | $| 420000 | &nbsp;&nbsp; $450007 |
| &nbsp;&nbsp;&nbsp; 7.00%, 04/15/2032<sup>(a)</sup> |  | 350000 | &nbsp;&nbsp; 359173 |
| Opal Bidco SAS, 6.50%, 03/31/2032<sup>(a)</sup> |  | 550000 | &nbsp;&nbsp; 561584 |
|  |  |  | &nbsp;&nbsp; 5744850 |
| **Georgia-0.10%** | **Georgia-0.10%** | **Georgia-0.10%** | **Georgia-0.10%** |
| Georgian Railway JSC, 4.00%, 06/17/2028<sup>(a)</sup> |  | 220000 | &nbsp;&nbsp; 210555 |
| **Germany-1.68%** | **Germany-1.68%** | **Germany-1.68%** | **Germany-1.68%** |
| Cerdia Finanz GmbH, 9.38%, 10/03/2031<sup>(a)</sup> |  | 350000 | &nbsp;&nbsp; 357777 |
| &nbsp;&nbsp;&nbsp; IHO Verwaltungs GmbH, 7.75% PIK Rate, <br> 8.50% Cash Rate, 11/15/2030<sup>(a)(c)</sup><br>|  | 200000 | &nbsp;&nbsp; 210419 |
| &nbsp;&nbsp;&nbsp; Mercer International, Inc., 5.13%, <br> 02/01/2029<br>|  | 339000 | &nbsp;&nbsp; 209768 |
| &nbsp;&nbsp;&nbsp; TK Elevator U.S. Newco, Inc., 5.25%, <br> 07/15/2027<sup>(a)</sup><br>|  | 650000 | &nbsp;&nbsp; 651200 |
| ZF North America Capital, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp; 6.88%, 04/14/2028<sup>(a)</sup> |  | 331000 | &nbsp;&nbsp; 341954 |
| &nbsp;&nbsp;&nbsp; 7.13%, 04/14/2030<sup>(a)</sup> |  | 270000 | &nbsp;&nbsp; 276553 |
| &nbsp;&nbsp;&nbsp; 6.75%, 04/23/2030<sup>(a)</sup> |  | 365000 | &nbsp;&nbsp; 366219 |
| &nbsp;&nbsp;&nbsp; 7.50%, 03/24/2031<sup>(a)</sup> |  | 650000 | &nbsp;&nbsp; 666626 |
| &nbsp;&nbsp;&nbsp; 6.88%, 04/23/2032<sup>(a)</sup> |  | 280000 | &nbsp;&nbsp; 279384 |
|  |  |  | &nbsp;&nbsp; 3359900 |
| **Ghana-0.28%** | **Ghana-0.28%** | **Ghana-0.28%** | **Ghana-0.28%** |
| Kosmos Energy Ltd., 8.75%, 10/01/2031<sup>(a)</sup> |  | 200000 | &nbsp;&nbsp; 126360 |
| Tullow Oil PLC, 10.25%, 05/15/2026<sup>(a)</sup> |  | 550000 | &nbsp;&nbsp; 426250 |
|  |  |  | &nbsp;&nbsp; 552610 |
| **Greece-0.10%** | **Greece-0.10%** | **Greece-0.10%** | **Greece-0.10%** |
| Danaos Corp., 6.88%, 10/15/2032<sup>(a)</sup> |  | 200000 | &nbsp;&nbsp; 206706 |
| **Guatemala-0.74%** | **Guatemala-0.74%** | **Guatemala-0.74%** | **Guatemala-0.74%** |
| &nbsp;&nbsp;&nbsp; Central American Bottling Corp./CBC Bottling <br> Holdco S.L./Beliv Holdco S.L., 5.25%, <br> 04/27/2029<sup>(a)</sup><br>|  | 459000 | &nbsp;&nbsp; 456931 |
| CT Trust, 5.13%, 02/03/2032<sup>(a)</sup> |  | 300000 | &nbsp;&nbsp; 286348 |
| Energuate Trust 2.0, 6.35%, 09/15/2035<sup>(a)</sup> |  | 255000 | &nbsp;&nbsp; 255036 |
| &nbsp;&nbsp;&nbsp; Investment Energy Resources Ltd., 6.25%, <br> 04/26/2029<sup>(a)</sup><br>|  | 290000 | &nbsp;&nbsp; 292144 |
| &nbsp;&nbsp;&nbsp; Mobiliare Latam S.A. / Mobiliare Latam Mexico <br> S.A. de CV, 6.75%, 11/10/2032<sup>(a)</sup><br>|  | 200000 | &nbsp;&nbsp; 198255 |
|  |  |  | &nbsp;&nbsp; 1488714 |
| **Hong Kong-1.46%** | **Hong Kong-1.46%** | **Hong Kong-1.46%** | **Hong Kong-1.46%** |
| China CITIC Bank International Ltd. |  |  |  |
| &nbsp;&nbsp;&nbsp; 3.25%<sup>(a)(d)(e)</sup> |  | 270000 | &nbsp;&nbsp; 269204 |
| &nbsp;&nbsp;&nbsp; 4.80%<sup>(a)(d)(e)</sup> |  | 270000 | &nbsp;&nbsp; 272304 |
| Melco Resorts Finance Ltd. |  |  |  |
| &nbsp;&nbsp;&nbsp; 5.63%, 07/17/2027<sup>(a)</sup> |  | 270000 | &nbsp;&nbsp; 270297 |
| &nbsp;&nbsp;&nbsp; 5.75%, 07/21/2028<sup>(a)</sup> |  | 380000 | &nbsp;&nbsp; 380303 |
| &nbsp;&nbsp;&nbsp; 5.38%, 12/04/2029<sup>(a)</sup> |  | 490000 | &nbsp;&nbsp; 485386 |
| &nbsp;&nbsp;&nbsp; 7.63%, 04/17/2032<sup>(a)</sup> |  | 450000 | &nbsp;&nbsp; 472266 |
| &nbsp;&nbsp;&nbsp; 6.50%, 09/24/2033<sup>(a)</sup> |  | 200000 | &nbsp;&nbsp; 199707 |
| Nanyang Commercial Bank Ltd., 6.50%<sup>(a)(d)(e)</sup> |  | 290000 | &nbsp;&nbsp; 297486 |
| Seaspan Corp., 5.50%, 08/01/2029<sup>(a)</sup> |  | 287000 | &nbsp;&nbsp; 273214 |
|  |  |  | &nbsp;&nbsp; 2920167 |
| **Hungary-0.34%** | **Hungary-0.34%** | **Hungary-0.34%** | **Hungary-0.34%** |
| OTP Bank Nyrt. |  |  |  |
| &nbsp;&nbsp;&nbsp; 8.75%, 05/15/2033<sup>(a)(d)</sup> |  | 240000 | &nbsp;&nbsp; 256127 |
| &nbsp;&nbsp;&nbsp; 7.30%, 07/30/2035<sup>(a)(d)</sup> |  | 400000 | &nbsp;&nbsp; 421490 |
|  |  |  | &nbsp;&nbsp; 677617 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal**<br> **Amount** | **Value** |
| **India-3.31%** | **India-3.31%** | **India-3.31%** |
| &nbsp;&nbsp;&nbsp; Biocon Biologics Global PLC, 6.67%, <br> 10/09/2029<sup>(a)</sup><br>| $370000 | &nbsp;&nbsp; $375960 |
| &nbsp;&nbsp;&nbsp; Continuum Green Energy India Pvt./Co-<br> Issuers, 7.50%, 06/26/2033<sup>(a)</sup><br>| 206965 | &nbsp;&nbsp; 217076 |
| Delhi International Airport Ltd. |  |  |
| &nbsp;&nbsp;&nbsp; 6.13%, 10/31/2026<sup>(a)</sup> | 200000 | &nbsp;&nbsp; 201663 |
| &nbsp;&nbsp;&nbsp; 6.45%, 06/04/2029<sup>(a)</sup> | 220000 | &nbsp;&nbsp; 229985 |
| Diamond II Ltd., 7.95%, 07/28/2026<sup>(a)</sup> | 200000 | &nbsp;&nbsp; 200163 |
| Greenko Power II Ltd., 4.30%, 12/13/2028<sup>(a)</sup> | 304000 | &nbsp;&nbsp; 291441 |
| &nbsp;&nbsp;&nbsp; Greenko Wind Projects (Mauritius) Ltd., <br> 7.25%, 09/27/2028<sup>(a)</sup><br>| 400000 | &nbsp;&nbsp; 409183 |
| &nbsp;&nbsp;&nbsp; IRB Infrastructure Developers Ltd., 7.11%, <br> 03/11/2032<sup>(a)</sup><br>| 400000 | &nbsp;&nbsp; 418035 |
| JSW Steel Ltd. |  |  |
| &nbsp;&nbsp;&nbsp; 3.95%, 04/05/2027<sup>(a)</sup> | 206000 | &nbsp;&nbsp; 204575 |
| &nbsp;&nbsp;&nbsp; 5.05%, 04/05/2032<sup>(a)</sup> | 220000 | &nbsp;&nbsp; 219751 |
| Muthoot Finance Ltd. |  |  |
| &nbsp;&nbsp;&nbsp; 7.13%, 02/14/2028<sup>(a)</sup> | 260000 | &nbsp;&nbsp; 266464 |
| &nbsp;&nbsp;&nbsp; 6.38%, 04/23/2029<sup>(a)</sup> | 250000 | &nbsp;&nbsp; 255971 |
| &nbsp;&nbsp;&nbsp; 6.38%, 03/02/2030<sup>(a)</sup> | 315000 | &nbsp;&nbsp; 323359 |
| Periama Holdings LLC, 5.95%, 04/19/2026<sup>(a)</sup> | 340000 | &nbsp;&nbsp; 341094 |
| &nbsp;&nbsp;&nbsp; ReNew Wind Energy AP2/ReNew Power Pvt <br> Ltd. other 9 Subsidiaries, 4.50%, <br> 07/14/2028<sup>(a)</sup><br>| 260000 | &nbsp;&nbsp; 251382 |
| Shriram Finance Ltd. |  |  |
| &nbsp;&nbsp;&nbsp; 6.63%, 04/22/2027<sup>(a)</sup> | 400000 | &nbsp;&nbsp; 408956 |
| &nbsp;&nbsp;&nbsp; 6.15%, 04/03/2028<sup>(a)</sup> | 200000 | &nbsp;&nbsp; 206096 |
| UPL Corp. Ltd., 4.63%, 06/16/2030<sup>(a)</sup> | 200000 | &nbsp;&nbsp; 191166 |
| Vedanta Resources Finance II PLC |  |  |
| &nbsp;&nbsp;&nbsp; 10.88%, 09/17/2029<sup>(a)</sup> | 500000 | &nbsp;&nbsp; 535879 |
| &nbsp;&nbsp;&nbsp; 9.48%, 07/24/2030<sup>(a)</sup> | 200000 | &nbsp;&nbsp; 211133 |
| &nbsp;&nbsp;&nbsp; 11.25%, 12/03/2031<sup>(a)</sup> | 200000 | &nbsp;&nbsp; 221817 |
| &nbsp;&nbsp;&nbsp; 9.13%, 10/15/2032<sup>(a)</sup> | 200000 | &nbsp;&nbsp; 209657 |
| &nbsp;&nbsp;&nbsp; 9.85%, 04/24/2033<sup>(a)</sup> | 400000 | &nbsp;&nbsp; 431431 |
|  |  | &nbsp;&nbsp; 6622237 |
| **Indonesia-0.22%** | **Indonesia-0.22%** | **Indonesia-0.22%** |
| Nickel Industries Ltd., 9.00%, 09/30/2030<sup>(a)</sup> | 426000 | &nbsp;&nbsp; 447581 |
| **Israel-2.58%** | **Israel-2.58%** | **Israel-2.58%** |
| Energean Israel Finance Ltd. |  |  |
| &nbsp;&nbsp;&nbsp; 5.38%, 03/30/2028<sup>(a)</sup> | 220000 | &nbsp;&nbsp; 217951 |
| &nbsp;&nbsp;&nbsp; 5.88%, 03/30/2031<sup>(a)(b)</sup> | 320000 | &nbsp;&nbsp; 311254 |
| &nbsp;&nbsp;&nbsp; 8.50%, 09/30/2033<sup>(a)(b)</sup> | 380000 | &nbsp;&nbsp; 407503 |
| Leviathan Bond Ltd. |  |  |
| &nbsp;&nbsp;&nbsp; 6.50%, 06/30/2027<sup>(a)</sup> | 210000 | &nbsp;&nbsp; 212329 |
| &nbsp;&nbsp;&nbsp; 6.75%, 06/30/2030<sup>(a)</sup> | 299000 | &nbsp;&nbsp; 307036 |
| &nbsp;&nbsp;&nbsp; Teva Pharmaceutical Finance Co. LLC, 6.15%, <br> 02/01/2036<br>| 320000 | &nbsp;&nbsp; 336917 |
| &nbsp;&nbsp;&nbsp; Teva Pharmaceutical Finance Netherlands III <br> B.V.<br>|  |  |
| &nbsp;&nbsp;&nbsp; 3.15%, 10/01/2026<sup>(b)</sup> | 745000 | &nbsp;&nbsp; 739457 |
| &nbsp;&nbsp;&nbsp; 4.75%, 05/09/2027 | 285000 | &nbsp;&nbsp; 285218 |
| &nbsp;&nbsp;&nbsp; 6.75%, 03/01/2028 | 520000 | &nbsp;&nbsp; 540301 |
| &nbsp;&nbsp;&nbsp; 5.13%, 05/09/2029<sup>(b)</sup> | 420000 | &nbsp;&nbsp; 424263 |
| &nbsp;&nbsp;&nbsp; 8.13%, 09/15/2031 | 188000 | &nbsp;&nbsp; 215898 |
| &nbsp;&nbsp;&nbsp; 4.10%, 10/01/2046 | 871000 | &nbsp;&nbsp; 667010 |
| &nbsp;&nbsp;&nbsp; Teva Pharmaceutical Finance Netherlands IV <br> B.V., 5.75%, 12/01/2030<br>| 280000 | &nbsp;&nbsp; 290129 |
| &nbsp;&nbsp;&nbsp; Teva Pharmaceuticals Finance Netherlands <br> B.V., 6.00%, 12/01/2032<br>| 200000 | &nbsp;&nbsp; 209507 |
|  |  | &nbsp;&nbsp; 5164773 |

---

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

------

**Invesco Global ex-US High Yield Corporate Bond ETF (PGHY)—(continued)**

January 31, 2026

*(Unaudited)*

---

| | | |
|:---|:---|:---|
|  | **Principal**<br> **Amount** | **Value** |
| **Italy-0.94%** | **Italy-0.94%** | **Italy-0.94%** |
| &nbsp;&nbsp;&nbsp; Efesto Bidco S.p.A. Efesto US LLC, Series XR, <br> 7.50%, 02/15/2032<sup>(a)</sup><br>| $410000 | &nbsp;&nbsp; $419219 |
| FiberCop S.p.A. |  |  |
| &nbsp;&nbsp;&nbsp; 6.38%, 11/15/2033<sup>(a)</sup> | 200000 | &nbsp;&nbsp; 203052 |
| &nbsp;&nbsp;&nbsp; 6.00%, 09/30/2034<sup>(a)</sup> | 200000 | &nbsp;&nbsp; 195218 |
| &nbsp;&nbsp;&nbsp; 7.20%, 07/18/2036<sup>(a)</sup> | 200000 | &nbsp;&nbsp; 202864 |
| &nbsp;&nbsp;&nbsp; 7.72%, 06/04/2038<sup>(a)</sup> | 200000 | &nbsp;&nbsp; 205919 |
| Kedrion S.p.A., 6.50%, 09/01/2029<sup>(a)</sup> | 400000 | &nbsp;&nbsp; 395128 |
| &nbsp;&nbsp;&nbsp; Telecom Italia Capital S.A., 7.20%, <br> 07/18/2036<sup>(b)</sup><br>| 236000 | &nbsp;&nbsp; 256094 |
|  |  | &nbsp;&nbsp; 1877494 |
| **Ivory Coast-0.10%** | **Ivory Coast-0.10%** | **Ivory Coast-0.10%** |
| &nbsp;&nbsp;&nbsp; Endeavour Mining PLC, 7.00%, <br> 05/28/2030<sup>(a)</sup><br>| 200000 | &nbsp;&nbsp; 206725 |
| **Jamaica-0.44%** | **Jamaica-0.44%** | **Jamaica-0.44%** |
| &nbsp;&nbsp;&nbsp; Digicel International Finance Ltd./Difl US LLC, <br> 8.63%, 08/01/2032<sup>(a)</sup><br>| 840000 | &nbsp;&nbsp; 873929 |
| **Japan-5.59%** | **Japan-5.59%** | **Japan-5.59%** |
| Kioxia Holdings Corp. |  |  |
| &nbsp;&nbsp;&nbsp; 6.25%, 07/24/2030<sup>(a)</sup> | 467000 | &nbsp;&nbsp; 482860 |
| &nbsp;&nbsp;&nbsp; 6.63%, 07/24/2033<sup>(a)</sup> | 467000 | &nbsp;&nbsp; 488065 |
| Nissan Motor Co. Ltd. |  |  |
| &nbsp;&nbsp;&nbsp; 4.35%, 09/17/2027<sup>(a)</sup> | 1070000 | &nbsp;&nbsp; 1059312 |
| &nbsp;&nbsp;&nbsp; 7.50%, 07/17/2030<sup>(a)</sup> | 400000 | &nbsp;&nbsp; 420349 |
| &nbsp;&nbsp;&nbsp; 4.81%, 09/17/2030<sup>(a)(b)</sup> | 1070000 | &nbsp;&nbsp; 1011091 |
| &nbsp;&nbsp;&nbsp; 7.75%, 07/17/2032<sup>(a)(b)</sup> | 280000 | &nbsp;&nbsp; 295758 |
| &nbsp;&nbsp;&nbsp; 8.13%, 07/17/2035<sup>(a)</sup> | 530000 | &nbsp;&nbsp; 566476 |
| Rakuten Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 11.25%, 02/15/2027<sup>(a)</sup> | 750000 | &nbsp;&nbsp; 799618 |
| &nbsp;&nbsp;&nbsp; 9.75%, 04/15/2029<sup>(a)(b)</sup> | 875000 | &nbsp;&nbsp; 981097 |
| &nbsp;&nbsp;&nbsp; 5.13%<sup>(a)(d)(e)</sup> | 320000 | &nbsp;&nbsp; 319802 |
| &nbsp;&nbsp;&nbsp; 6.25%<sup>(a)(d)(e)</sup> | 430000 | &nbsp;&nbsp; 416129 |
| &nbsp;&nbsp;&nbsp; 8.13%<sup>(a)(d)(e)</sup> | 200000 | &nbsp;&nbsp; 207363 |
| SoftBank Group Corp. |  |  |
| &nbsp;&nbsp;&nbsp; 4.00%, 07/06/2026<sup>(a)</sup> | 300000 | &nbsp;&nbsp; 298247 |
| &nbsp;&nbsp;&nbsp; 5.13%, 09/19/2027<sup>(a)</sup> | 550000 | &nbsp;&nbsp; 546326 |
| &nbsp;&nbsp;&nbsp; 4.63%, 07/06/2028<sup>(a)(b)</sup> | 360000 | &nbsp;&nbsp; 352475 |
| &nbsp;&nbsp;&nbsp; 6.50%, 04/10/2029<sup>(a)</sup> | 200000 | &nbsp;&nbsp; 200650 |
| &nbsp;&nbsp;&nbsp; 6.88%, 01/10/2031<sup>(a)</sup> | 200000 | &nbsp;&nbsp; 199133 |
| &nbsp;&nbsp;&nbsp; 5.25%, 07/06/2031<sup>(a)(b)</sup> | 610000 | &nbsp;&nbsp; 588354 |
| &nbsp;&nbsp;&nbsp; 7.00%, 07/08/2031<sup>(a)</sup> | 200000 | &nbsp;&nbsp; 203426 |
| &nbsp;&nbsp;&nbsp; 7.25%, 07/10/2032<sup>(a)</sup> | 250000 | &nbsp;&nbsp; 251569 |
| &nbsp;&nbsp;&nbsp; 7.50%, 07/10/2035<sup>(a)</sup> | 210000 | &nbsp;&nbsp; 218309 |
| &nbsp;&nbsp;&nbsp; 7.63%, 04/29/2061<sup>(a)(d)</sup> | 400000 | &nbsp;&nbsp; 372435 |
| &nbsp;&nbsp;&nbsp; 8.25%, 10/29/2065<sup>(a)(d)</sup> | 370000 | &nbsp;&nbsp; 344955 |
| &nbsp;&nbsp;&nbsp; 6.88%<sup>(a)(b)(d)(e)</sup> | 590000 | &nbsp;&nbsp; 577277 |
|  |  | &nbsp;&nbsp; 11201076 |
| **Jersey-0.20%** | **Jersey-0.20%** | **Jersey-0.20%** |
| &nbsp;&nbsp;&nbsp; Aston Martin Capital Holdings Ltd., 10.00%, <br> 03/31/2029<sup>(a)</sup><br>| 450000 | &nbsp;&nbsp; 401976 |
| **Luxembourg-1.30%** | **Luxembourg-1.30%** | **Luxembourg-1.30%** |
| &nbsp;&nbsp;&nbsp; Albion Financing 1 S.a.r.l./Aggreko Holdings, <br> Inc., 7.00%, 05/21/2030<sup>(a)</sup><br>| 580000 | &nbsp;&nbsp; 604869 |
| Altice Financing S.A. |  |  |
| &nbsp;&nbsp;&nbsp; 5.00%, 01/15/2028<sup>(a)</sup> | 510000 | &nbsp;&nbsp; 370723 |
| &nbsp;&nbsp;&nbsp; 5.75%, 08/15/2029<sup>(a)</sup> | 820000 | &nbsp;&nbsp; 590748 |
| &nbsp;&nbsp;&nbsp; Altice France Lux 3/Altice Holdings 1, <br> 10.00%, 01/15/2033<sup>(a)</sup><br>| 394000 | &nbsp;&nbsp; 381039 |
| INEOS Finance PLC, 7.50%, 04/15/2029<sup>(a)</sup> | 300000 | &nbsp;&nbsp; 251521 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | **Principal**<br> **Amount** | **Principal**<br> **Amount** | **Value** |
| **Luxembourg-(continued)** | **Luxembourg-(continued)** | **Luxembourg-(continued)** | **Luxembourg-(continued)** |
| Maxam Prill S.a.r.l., 7.75%, 07/15/2030<sup>(a)</sup> | $| 210000 | &nbsp;&nbsp; $218897 |
| SES Americom Inc., 5.30%, 03/25/2044<sup>(a)</sup> |  | 222000 | &nbsp;&nbsp; 178660 |
|  |  |  | &nbsp;&nbsp; 2596457 |
| **Macau-1.83%** | **Macau-1.83%** | **Macau-1.83%** | **Macau-1.83%** |
| &nbsp;&nbsp;&nbsp; Champion Path Holdings Ltd., 4.85%, <br> 01/27/2028<sup>(a)</sup><br>|  | 220000 | &nbsp;&nbsp; 214201 |
| MGM China Holdings Ltd. |  |  |  |
| &nbsp;&nbsp;&nbsp; 5.88%, 05/15/2026<sup>(a)</sup> |  | 340000 | &nbsp;&nbsp; 340275 |
| &nbsp;&nbsp;&nbsp; 4.75%, 02/01/2027<sup>(a)</sup> |  | 340000 | &nbsp;&nbsp; 338780 |
| &nbsp;&nbsp;&nbsp; 7.13%, 06/26/2031<sup>(a)</sup> |  | 200000 | &nbsp;&nbsp; 212463 |
| Studio City Finance Ltd. |  |  |  |
| &nbsp;&nbsp;&nbsp; 6.50%, 01/15/2028<sup>(a)</sup> |  | 220000 | &nbsp;&nbsp; 220262 |
| &nbsp;&nbsp;&nbsp; 5.00%, 01/15/2029<sup>(a)</sup> |  | 483000 | &nbsp;&nbsp; 468351 |
| Wynn Macau Ltd. |  |  |  |
| &nbsp;&nbsp;&nbsp; 5.50%, 10/01/2027<sup>(a)</sup> |  | 318000 | &nbsp;&nbsp; 318133 |
| &nbsp;&nbsp;&nbsp; 5.63%, 08/26/2028<sup>(a)</sup> |  | 570000 | &nbsp;&nbsp; 569345 |
| &nbsp;&nbsp;&nbsp; 5.13%, 12/15/2029<sup>(a)(b)</sup> |  | 428000 | &nbsp;&nbsp; 426212 |
| &nbsp;&nbsp;&nbsp; 6.75%, 02/15/2034<sup>(a)</sup> |  | 550000 | &nbsp;&nbsp; 557985 |
|  |  |  | &nbsp;&nbsp; 3666007 |
| **Mauritius Island-0.13%** | **Mauritius Island-0.13%** | **Mauritius Island-0.13%** | **Mauritius Island-0.13%** |
| &nbsp;&nbsp;&nbsp; Axian Telecom Holding and Management Ltd., <br> 7.25%, 07/11/2030<sup>(a)</sup><br>|  | 250000 | &nbsp;&nbsp; 253641 |
| **Mexico-3.62%** | **Mexico-3.62%** | **Mexico-3.62%** | **Mexico-3.62%** |
| Borr IHC Ltd./Borr Finance LLC |  |  |  |
| &nbsp;&nbsp;&nbsp; 10.00%, 11/15/2028<sup>(a)</sup> |  | 467317 | &nbsp;&nbsp; 480335 |
| &nbsp;&nbsp;&nbsp; 10.38%, 11/15/2030<sup>(a)</sup> |  | 360437 | &nbsp;&nbsp; 368953 |
| CEMEX S.A.B. de C.V. |  |  |  |
| &nbsp;&nbsp;&nbsp; 5.13%<sup>(a)(d)(e)</sup> |  | 450000 | &nbsp;&nbsp; 449549 |
| &nbsp;&nbsp;&nbsp; 7.20%<sup>(a)(d)(e)</sup> |  | 420000 | &nbsp;&nbsp; 440895 |
| &nbsp;&nbsp;&nbsp; Grupo Aeromexico S.A.B. de C.V., 8.63%, <br> 11/15/2031<sup>(a)</sup><br>|  | 200000 | &nbsp;&nbsp; 207000 |
| &nbsp;&nbsp;&nbsp; Grupo Aeromexico, S.A.B. De C.V., 8.25%, <br> 11/15/2029<sup>(a)</sup><br>|  | 200000 | &nbsp;&nbsp; 206000 |
| Nemak S.A.B. de C.V., 3.63%, 06/28/2031<sup>(a)</sup> |  | 220000 | &nbsp;&nbsp; 191672 |
| Petroleos Mexicanos |  |  |  |
| &nbsp;&nbsp;&nbsp; 6.50%, 03/13/2027 |  | 100000 | &nbsp;&nbsp; 101888 |
| &nbsp;&nbsp;&nbsp; 5.35%, 02/12/2028 |  | 50000 | &nbsp;&nbsp; 50448 |
| &nbsp;&nbsp;&nbsp; 6.50%, 01/23/2029 |  | 80000 | &nbsp;&nbsp; 81594 |
| &nbsp;&nbsp;&nbsp; 8.75%, 06/02/2029 |  | 225000 | &nbsp;&nbsp; 241724 |
| &nbsp;&nbsp;&nbsp; 6.84%, 01/23/2030 |  | 260000 | &nbsp;&nbsp; 266853 |
| &nbsp;&nbsp;&nbsp; 5.95%, 01/28/2031 |  | 310000 | &nbsp;&nbsp; 302615 |
| &nbsp;&nbsp;&nbsp; 6.70%, 02/16/2032 |  | 610000 | &nbsp;&nbsp; 609396 |
| &nbsp;&nbsp;&nbsp; 10.00%, 02/07/2033 |  | 160000 | &nbsp;&nbsp; 186624 |
| &nbsp;&nbsp;&nbsp; 6.63%, 06/15/2035 |  | 245000 | &nbsp;&nbsp; 233595 |
| &nbsp;&nbsp;&nbsp; 6.50%, 06/02/2041 |  | 120000 | &nbsp;&nbsp; 104706 |
| &nbsp;&nbsp;&nbsp; 5.50%, 06/27/2044 |  | 50000 | &nbsp;&nbsp; 38298 |
| &nbsp;&nbsp;&nbsp; 6.38%, 01/23/2045 |  | 94000 | &nbsp;&nbsp; 76517 |
| &nbsp;&nbsp;&nbsp; 5.63%, 01/23/2046 |  | 40000 | &nbsp;&nbsp; 30319 |
| &nbsp;&nbsp;&nbsp; 6.75%, 09/21/2047 |  | 468000 | &nbsp;&nbsp; 386227 |
| &nbsp;&nbsp;&nbsp; 6.35%, 02/12/2048 |  | 120000 | &nbsp;&nbsp; 95241 |
| &nbsp;&nbsp;&nbsp; 7.69%, 01/23/2050 |  | 790000 | &nbsp;&nbsp; 711277 |
| &nbsp;&nbsp;&nbsp; 6.95%, 01/28/2060 |  | 330000 | &nbsp;&nbsp; 268995 |
| Saavi Energia S.a.r.l., 8.88%, 02/10/2035<sup>(a)</sup> |  | 590000 | &nbsp;&nbsp; 639501 |
| &nbsp;&nbsp;&nbsp; Total Play Telecomunicaciones S.A. de C.V., <br> 11.13%, 12/31/2032<sup>(a)</sup><br>|  | 500000 | &nbsp;&nbsp; 481250 |
|  |  |  | &nbsp;&nbsp; 7251472 |
| **Moldova-0.10%** | **Moldova-0.10%** | **Moldova-0.10%** | **Moldova-0.10%** |
| &nbsp;&nbsp;&nbsp; Aragvi Finance International DAC, 11.13%, <br> 11/20/2029<sup>(a)</sup><br>|  | 200000 | &nbsp;&nbsp; 203672 |

---

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

------

**Invesco Global ex-US High Yield Corporate Bond ETF (PGHY)—(continued)**

January 31, 2026

*(Unaudited)*

---

| | | |
|:---|:---|:---|
|  | **Principal**<br> **Amount** | **Value** |
| **Morocco-0.41%** | **Morocco-0.41%** | **Morocco-0.41%** |
| OCP S.A. |  |  |
| &nbsp;&nbsp;&nbsp; 3.75%, 06/23/2031<sup>(a)</sup> | $340000 | &nbsp;&nbsp; $317049 |
| &nbsp;&nbsp;&nbsp; 6.88%, 04/25/2044<sup>(a)</sup> | 220000 | &nbsp;&nbsp; 227700 |
| &nbsp;&nbsp;&nbsp; 5.13%, 06/23/2051<sup>(a)</sup> | 340000 | &nbsp;&nbsp; 276228 |
|  |  | &nbsp;&nbsp; 820977 |
| **Netherlands-1.36%** | **Netherlands-1.36%** | **Netherlands-1.36%** |
| &nbsp;&nbsp;&nbsp; Sunrise FinCo I B.V., 4.88%, 07/15/2031, <br> (Acquired 08/25/2023 - 07/31/2025; <br> Cost $463,080)<sup>(a)(b)(f)</sup><br>| 520000 | &nbsp;&nbsp; 498672 |
| Trivium Packaging Finance B.V. |  |  |
| &nbsp;&nbsp;&nbsp; 8.25%, 07/15/2030<sup>(a)</sup> | 257000 | &nbsp;&nbsp; 274395 |
| &nbsp;&nbsp;&nbsp; 12.25%, 01/15/2031<sup>(a)</sup> | 260000 | &nbsp;&nbsp; 284706 |
| VZ Secured Financing B.V. |  |  |
| &nbsp;&nbsp;&nbsp; 5.00%, 01/15/2032<sup>(a)(b)</sup> | 671000 | &nbsp;&nbsp; 606324 |
| &nbsp;&nbsp;&nbsp; 7.50%, 01/15/2033<sup>(a)</sup> | 480000 | &nbsp;&nbsp; 481794 |
| Ziggo B.V., 4.88%, 01/15/2030<sup>(a)</sup> | 416000 | &nbsp;&nbsp; 393028 |
| Ziggo Bond Co. B.V., 5.13%, 02/28/2030<sup>(a)</sup> | 209000 | &nbsp;&nbsp; 183800 |
|  |  | &nbsp;&nbsp; 2722719 |
| **Nigeria-0.74%** | **Nigeria-0.74%** | **Nigeria-0.74%** |
| Access Bank PLC, 6.13%, 09/21/2026<sup>(a)(b)</sup> | 229000 | &nbsp;&nbsp; 228443 |
| IHS Holding Ltd. |  |  |
| &nbsp;&nbsp;&nbsp; 6.25%, 11/29/2028<sup>(a)</sup> | 420000 | &nbsp;&nbsp; 418616 |
| &nbsp;&nbsp;&nbsp; 7.88%, 05/29/2030<sup>(a)</sup> | 350000 | &nbsp;&nbsp; 361103 |
| &nbsp;&nbsp;&nbsp; 8.25%, 11/29/2031<sup>(a)</sup> | 200000 | &nbsp;&nbsp; 209041 |
| Seplat Energy PLC, 9.13%, 03/21/2030<sup>(a)</sup> | 250000 | &nbsp;&nbsp; 262949 |
|  |  | &nbsp;&nbsp; 1480152 |
| **Norway-0.41%** | **Norway-0.41%** | **Norway-0.41%** |
| Odfjell Rig III Ltd., 7.25%, 03/08/2031<sup>(a)</sup> | 284000 | &nbsp;&nbsp; 292602 |
| Seadrill Finance Ltd., 8.38%, 08/01/2030<sup>(a)</sup> | 200000 | &nbsp;&nbsp; 209681 |
| TGS ASA, 8.50%, 01/15/2030<sup>(a)</sup> | 300000 | &nbsp;&nbsp; 316685 |
|  |  | &nbsp;&nbsp; 818968 |
| **Oman-1.10%** | **Oman-1.10%** | **Oman-1.10%** |
| &nbsp;&nbsp;&nbsp; AL Jawaher Assets Co. Spc, 4.66%, <br> 10/29/2030<sup>(a)</sup><br>| 200000 | &nbsp;&nbsp; 197634 |
| Mazoon Assets Co. SAOC |  |  |
| &nbsp;&nbsp;&nbsp; 5.20%, 11/08/2027<sup>(a)</sup> | 220000 | &nbsp;&nbsp; 221840 |
| &nbsp;&nbsp;&nbsp; 5.50%, 02/14/2029<sup>(a)</sup> | 200000 | &nbsp;&nbsp; 204808 |
| &nbsp;&nbsp;&nbsp; 5.25%, 10/09/2031<sup>(a)</sup> | 400000 | &nbsp;&nbsp; 407124 |
| OmGrid Funding Ltd., 5.20%, 05/16/2027<sup>(a)</sup> | 220000 | &nbsp;&nbsp; 221277 |
| OQ SAOC, 5.13%, 05/06/2028<sup>(a)</sup> | 140000 | &nbsp;&nbsp; 141157 |
| Oryx Funding Ltd., 5.80%, 02/03/2031<sup>(a)</sup> | 270000 | &nbsp;&nbsp; 278176 |
| OTEL Sukuk Ltd., 5.38%, 01/24/2031<sup>(a)</sup> | 200000 | &nbsp;&nbsp; 204106 |
| &nbsp;&nbsp;&nbsp; Oztel Holdings SPC Ltd., 6.63%, <br> 04/24/2028<sup>(a)</sup><br>| 310000 | &nbsp;&nbsp; 322759 |
|  |  | &nbsp;&nbsp; 2198881 |
| **Pakistan-0.11%** | **Pakistan-0.11%** | **Pakistan-0.11%** |
| &nbsp;&nbsp;&nbsp; Pakistan Water & Power Development <br> Authority, 7.50%, 06/04/2031<sup>(a)</sup><br>| 235000 | &nbsp;&nbsp; 230234 |
| **Panama-0.81%** | **Panama-0.81%** | **Panama-0.81%** |
| &nbsp;&nbsp;&nbsp; AES Panama Generation Holdings S.R.L., <br> 4.38%, 05/31/2030<sup>(a)</sup><br>| 579709 | &nbsp;&nbsp; 546573 |
| &nbsp;&nbsp;&nbsp; C&W Senior Finance Ltd., 9.00%, <br> 01/15/2033<sup>(a)</sup><br>| 250000 | &nbsp;&nbsp; 260321 |
| &nbsp;&nbsp;&nbsp; Empresa de Transmision Electrica S.A., <br> 5.13%, 05/02/2049<sup>(a)</sup><br>| 245000 | &nbsp;&nbsp; 190204 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | **Principal**<br> **Amount** | **Principal**<br> **Amount** | **Value** |
| **Panama-(continued)** | **Panama-(continued)** | **Panama-(continued)** | **Panama-(continued)** |
| &nbsp;&nbsp;&nbsp; Sable International Finance Ltd., 7.13%, <br> 10/15/2032<sup>(a)</sup><br>| $| 421000 | &nbsp;&nbsp; $426058 |
| &nbsp;&nbsp;&nbsp; Telecomunicaciones Digitales S.A., 4.50%, <br> 01/30/2030<sup>(a)</sup><br>|  | 220000 | &nbsp;&nbsp; 209726 |
|  |  |  | &nbsp;&nbsp; 1632882 |
| **Peru-1.02%** | **Peru-1.02%** | **Peru-1.02%** | **Peru-1.02%** |
| &nbsp;&nbsp;&nbsp; Compania de Minas Buenaventura S.A.A., <br> 6.80%, 02/04/2032<sup>(a)</sup><br>|  | 250000 | &nbsp;&nbsp; 260819 |
| Minsur S.A., 4.50%, 10/28/2031<sup>(a)</sup> |  | 200000 | &nbsp;&nbsp; 192339 |
| Peru LNG S.r.l., 5.38%, 03/22/2030<sup>(a)</sup> |  | 315042 | &nbsp;&nbsp; 307812 |
| Petroleos del Peru S.A. |  |  |  |
| &nbsp;&nbsp;&nbsp; 4.75%, 06/19/2032<sup>(a)</sup> |  | 490000 | &nbsp;&nbsp; 370332 |
| &nbsp;&nbsp;&nbsp; 5.63%, 06/19/2047<sup>(a)</sup> |  | 900000 | &nbsp;&nbsp; 604913 |
| &nbsp;&nbsp;&nbsp; Volcan Compania Minera S.A.A., 8.50%, <br> 10/28/2032<sup>(a)</sup><br>|  | 300000 | &nbsp;&nbsp; 310995 |
|  |  |  | &nbsp;&nbsp; 2047210 |
| **Poland-0.19%** | **Poland-0.19%** | **Poland-0.19%** | **Poland-0.19%** |
| &nbsp;&nbsp;&nbsp; Canpack S.A./Canpack US LLC, 3.88%, <br> 11/15/2029<sup>(a)</sup><br>|  | 400000 | &nbsp;&nbsp; 382827 |
| **Puerto Rico-0.31%** | **Puerto Rico-0.31%** | **Puerto Rico-0.31%** | **Puerto Rico-0.31%** |
| LCPR Senior Secured Financing DAC |  |  |  |
| &nbsp;&nbsp;&nbsp; 6.75%, 10/15/2027<sup>(a)</sup> |  | 535000 | &nbsp;&nbsp; 373663 |
| &nbsp;&nbsp;&nbsp; 5.13%, 07/15/2029<sup>(a)</sup> |  | 370000 | &nbsp;&nbsp; 247261 |
|  |  |  | &nbsp;&nbsp; 620924 |
| **Russia-0.01%** | **Russia-0.01%** | **Russia-0.01%** | **Russia-0.01%** |
| &nbsp;&nbsp;&nbsp; O1 Properties Finance PLC, 0.50% PIK Rate, <br> 7.75% Cash Rate, 09/27/2028<sup>(a)(g)</sup><br>|  | 500000 | &nbsp;&nbsp; 19664 |
| **Saudi Arabia-0.53%** | **Saudi Arabia-0.53%** | **Saudi Arabia-0.53%** | **Saudi Arabia-0.53%** |
| &nbsp;&nbsp;&nbsp; Arabian Centres Sukuk III Ltd., 9.50%, <br> 03/06/2029<sup>(a)</sup><br>|  | 200000 | &nbsp;&nbsp; 208372 |
| &nbsp;&nbsp;&nbsp; Arabian Centres Sukuk IV Ltd., 8.88%, <br> 12/04/2030<sup>(a)</sup><br>|  | 218000 | &nbsp;&nbsp; 223960 |
| Dar Al-Arkan Sukuk Co. Ltd. |  |  |  |
| &nbsp;&nbsp;&nbsp; 8.00%, 02/25/2029<sup>(a)(b)</sup> |  | 300000 | &nbsp;&nbsp; 314569 |
| &nbsp;&nbsp;&nbsp; 7.25%, 07/02/2030<sup>(a)</sup> |  | 300000 | &nbsp;&nbsp; 306922 |
|  |  |  | &nbsp;&nbsp; 1053823 |
| **Serbia-0.15%** | **Serbia-0.15%** | **Serbia-0.15%** | **Serbia-0.15%** |
| &nbsp;&nbsp;&nbsp; Telecommunications Co. Telekom Srbija AD <br> Belgrade, 7.00%, 10/28/2029<sup>(a)</sup><br>|  | 300000 | &nbsp;&nbsp; 301973 |
| **Singapore-0.10%** | **Singapore-0.10%** | **Singapore-0.10%** | **Singapore-0.10%** |
| &nbsp;&nbsp;&nbsp; Puma International Financing S.A., 7.75%, <br> 04/25/2029<sup>(a)</sup><br>|  | 200000 | &nbsp;&nbsp; 207472 |
| **South Africa-1.59%** | **South Africa-1.59%** | **South Africa-1.59%** | **South Africa-1.59%** |
| &nbsp;&nbsp;&nbsp; Bidvest Group (UK) PLC (The), 6.20%, <br> 09/17/2032<sup>(a)</sup><br>|  | 210000 | &nbsp;&nbsp; 214304 |
| Eskom Holdings, 8.45%, 08/10/2028<sup>(a)</sup> |  | 220000 | &nbsp;&nbsp; 235998 |
| &nbsp;&nbsp;&nbsp; Liquid Telecommunications Financing PLC, <br> 5.50%, 09/04/2026<sup>(a)</sup><br>|  | 280000 | &nbsp;&nbsp; 268274 |
| &nbsp;&nbsp;&nbsp; MTN (Mauritius) Investments Ltd., 6.50%, <br> 10/13/2026<sup>(a)</sup><br>|  | 220000 | &nbsp;&nbsp; 222475 |
| Sasol Financing USA LLC |  |  |  |
| &nbsp;&nbsp;&nbsp; 4.38%, 09/18/2026 |  | 190000 | &nbsp;&nbsp; 188866 |
| &nbsp;&nbsp;&nbsp; 6.50%, 09/27/2028 |  | 300000 | &nbsp;&nbsp; 300170 |
| &nbsp;&nbsp;&nbsp; 8.75%, 05/03/2029<sup>(a)(b)</sup> |  | 500000 | &nbsp;&nbsp; 513925 |
| &nbsp;&nbsp;&nbsp; 5.50%, 03/18/2031 |  | 337000 | &nbsp;&nbsp; 297499 |

---

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

------

**Invesco Global ex-US High Yield Corporate Bond ETF (PGHY)—(continued)**

January 31, 2026

*(Unaudited)*

---

| | | | |
|:---|:---|:---|:---|
|  | **Principal**<br> **Amount** | **Principal**<br> **Amount** | **Value** |
| **South Africa-(continued)** | **South Africa-(continued)** | **South Africa-(continued)** | **South Africa-(continued)** |
| Stillwater Mining Co. |  |  |  |
| &nbsp;&nbsp;&nbsp; 4.00%, 11/16/2026<sup>(a)</sup> | $| 260000 | &nbsp;&nbsp; $258905 |
| &nbsp;&nbsp;&nbsp; 4.50%, 11/16/2029<sup>(a)</sup> |  | 227000 | &nbsp;&nbsp; 218636 |
| Transnet, 8.25%, 02/06/2028<sup>(a)</sup> |  | 450000 | &nbsp;&nbsp; 475078 |
|  |  |  | &nbsp;&nbsp; 3194130 |
| **Spain-0.14%** | **Spain-0.14%** | **Spain-0.14%** | **Spain-0.14%** |
| Grifols S.A., 4.75%, 10/15/2028<sup>(a)</sup> |  | 288000 | &nbsp;&nbsp; 283893 |
| **Sweden-0.18%** | **Sweden-0.18%** | **Sweden-0.18%** | **Sweden-0.18%** |
| &nbsp;&nbsp;&nbsp; Stena International S.A., 7.25%, <br> 01/15/2031<sup>(a)</sup><br>|  | 350000 | &nbsp;&nbsp; 359860 |
| **Switzerland-0.59%** | **Switzerland-0.59%** | **Switzerland-0.59%** | **Switzerland-0.59%** |
| Consolidated Energy Finance S.A. |  |  |  |
| &nbsp;&nbsp;&nbsp; 5.63%, 10/15/2028<sup>(a)</sup> |  | 190000 | &nbsp;&nbsp; 156988 |
| &nbsp;&nbsp;&nbsp; 12.00%, 02/15/2031<sup>(a)</sup> |  | 250000 | &nbsp;&nbsp; 210287 |
| &nbsp;&nbsp;&nbsp; VistaJet Malta Finance PLC/Vista <br> Management Holding, Inc.<br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 7.88%, 05/01/2027<sup>(a)</sup> |  | 195000 | &nbsp;&nbsp; 195432 |
| &nbsp;&nbsp;&nbsp; 9.50%, 06/01/2028<sup>(a)</sup> |  | 200000 | &nbsp;&nbsp; 208209 |
| &nbsp;&nbsp;&nbsp; 6.38%, 02/01/2030<sup>(a)</sup> |  | 430000 | &nbsp;&nbsp; 408337 |
|  |  |  | &nbsp;&nbsp; 1179253 |
| **Tanzania-0.18%** | **Tanzania-0.18%** | **Tanzania-0.18%** | **Tanzania-0.18%** |
| HTA Group Ltd., 7.50%, 06/04/2029<sup>(a)</sup> |  | 350000 | &nbsp;&nbsp; 362021 |
| **Thailand-0.67%** | **Thailand-0.67%** | **Thailand-0.67%** | **Thailand-0.67%** |
| Bangkok Bank PCL, 3.73%, 09/25/2034<sup>(a)(d)</sup> |  | 540000 | &nbsp;&nbsp; 515696 |
| GC Treasury Center Co. Ltd. |  |  |  |
| &nbsp;&nbsp;&nbsp; 6.50%<sup>(a)(d)(e)</sup> |  | 252000 | &nbsp;&nbsp; 254731 |
| &nbsp;&nbsp;&nbsp; 7.13%<sup>(a)(d)(e)</sup> |  | 210000 | &nbsp;&nbsp; 215672 |
| Kasikornbank PCL, 3.34%, 10/02/2031<sup>(a)(d)</sup> |  | 360000 | &nbsp;&nbsp; 356061 |
|  |  |  | &nbsp;&nbsp; 1342160 |
| **Togo-0.11%** | **Togo-0.11%** | **Togo-0.11%** | **Togo-0.11%** |
| &nbsp;&nbsp;&nbsp; Ecobank Transnational, Inc., 10.13%, <br> 10/15/2029<sup>(a)</sup><br>|  | 200000 | &nbsp;&nbsp; 216015 |
| **Trinidad-0.23%** | **Trinidad-0.23%** | **Trinidad-0.23%** | **Trinidad-0.23%** |
| &nbsp;&nbsp;&nbsp; Heritage Petroleum Co. Ltd., 9.00%, <br> 08/12/2029<sup>(a)</sup><br>|  | 220000 | &nbsp;&nbsp; 226347 |
| &nbsp;&nbsp;&nbsp; Trinidad Generation Unlimited, 7.75%, <br> 06/16/2033<sup>(a)</sup><br>|  | 230000 | &nbsp;&nbsp; 241047 |
|  |  |  | &nbsp;&nbsp; 467394 |
| **Turkey-7.19%** | **Turkey-7.19%** | **Turkey-7.19%** | **Turkey-7.19%** |
| Akbank T.A.S. |  |  |  |
| &nbsp;&nbsp;&nbsp; 6.80%, 02/06/2026<sup>(a)</sup> |  | 200000 | &nbsp;&nbsp; 200223 |
| &nbsp;&nbsp;&nbsp; 7.50%, 01/20/2030<sup>(a)</sup> |  | 200000 | &nbsp;&nbsp; 211370 |
| &nbsp;&nbsp;&nbsp; 6.80%, 06/22/2031<sup>(a)(d)</sup> |  | 240000 | &nbsp;&nbsp; 240803 |
| Akbank Turk A.S., 7.88%, 09/04/2035<sup>(a)(d)</sup> |  | 200000 | &nbsp;&nbsp; 205653 |
| &nbsp;&nbsp;&nbsp; Anadolu Efes Biracilik ve Malt Sanayii A.S., <br> 3.38%, 06/29/2028<sup>(a)</sup><br>|  | 220000 | &nbsp;&nbsp; 206703 |
| &nbsp;&nbsp;&nbsp; Aydem Yenilenebilir Enerji A.S., 9.88%, <br> 09/30/2030<sup>(a)</sup><br>|  | 200000 | &nbsp;&nbsp; 200892 |
| Eldorado Gold Corp., 6.25%, 09/01/2029<sup>(a)</sup> |  | 195000 | &nbsp;&nbsp; 196133 |
| &nbsp;&nbsp;&nbsp; Eregli Demir ve Celik Fabrikalari T.A.S., 8.38%, <br> 07/23/2029<sup>(a)</sup><br>|  | 525000 | &nbsp;&nbsp; 555931 |
| &nbsp;&nbsp;&nbsp; Ford Otomotiv Sanayi A.S., 7.13%, <br> 04/25/2029<sup>(a)</sup><br>|  | 200000 | &nbsp;&nbsp; 207848 |
| &nbsp;&nbsp;&nbsp; GDZ Elektrik Dagitim AS, 9.00%, <br> 10/15/2029<sup>(a)</sup><br>|  | 200000 | &nbsp;&nbsp; 200396 |
| &nbsp;&nbsp;&nbsp; Limak Cimento Sanayi ve Ticaret A.S., 9.75%, <br> 07/25/2029<sup>(a)</sup><br>|  | 400000 | &nbsp;&nbsp; 408463 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal**<br> **Amount** | **Value** |
| **Turkey-(continued)** | **Turkey-(continued)** | **Turkey-(continued)** |
| &nbsp;&nbsp;&nbsp; Limak Yenilenebilir Enerji AS, 9.63%, <br> 08/12/2030<sup>(a)</sup><br>| $200000 | &nbsp;&nbsp; $198837 |
| &nbsp;&nbsp;&nbsp; Mersin Uluslararasi Liman Isletmeciligi A.S., <br> 8.25%, 11/15/2028<sup>(a)</sup><br>| 200000 | &nbsp;&nbsp; 208696 |
| &nbsp;&nbsp;&nbsp; Pegasus Hava Tasimaciligi A.S., 8.00%, <br> 09/11/2031<sup>(a)</sup><br>| 200000 | &nbsp;&nbsp; 211330 |
| QNB Bank A.S., 7.25%, 05/21/2029<sup>(a)</sup> | 200000 | &nbsp;&nbsp; 210667 |
| Sisecam UK PLC |  |  |
| &nbsp;&nbsp;&nbsp; 8.25%, 05/02/2029<sup>(a)</sup> | 400000 | &nbsp;&nbsp; 412610 |
| &nbsp;&nbsp;&nbsp; 8.63%, 05/02/2032<sup>(a)</sup> | 275000 | &nbsp;&nbsp; 285060 |
| T.C. Ziraat Bankasi A.S. |  |  |
| &nbsp;&nbsp;&nbsp; 5.38%, 03/02/2026<sup>(a)</sup> | 270000 | &nbsp;&nbsp; 270292 |
| &nbsp;&nbsp;&nbsp; 9.50%, 08/01/2026<sup>(a)</sup> | 220000 | &nbsp;&nbsp; 226119 |
| &nbsp;&nbsp;&nbsp; 8.00%, 01/16/2029<sup>(a)</sup> | 200000 | &nbsp;&nbsp; 212963 |
| &nbsp;&nbsp;&nbsp; TT Varlik Kiralama A.S., 6.50%, <br> 10/30/2030<sup>(a)</sup><br>| 250000 | &nbsp;&nbsp; 252318 |
| Turk Telekomunikasyon A.S. |  |  |
| &nbsp;&nbsp;&nbsp; 7.38%, 05/20/2029<sup>(a)</sup> | 200000 | &nbsp;&nbsp; 208475 |
| &nbsp;&nbsp;&nbsp; 6.95%, 10/07/2032<sup>(a)</sup> | 247000 | &nbsp;&nbsp; 252241 |
| Turkcell Iletisim Hizmetleri A.S. |  |  |
| &nbsp;&nbsp;&nbsp; 7.45%, 01/24/2030<sup>(a)</sup> | 200000 | &nbsp;&nbsp; 209835 |
| &nbsp;&nbsp;&nbsp; 7.65%, 01/24/2032<sup>(a)</sup> | 200000 | &nbsp;&nbsp; 212879 |
| Turkiye Cumhuriyeti Ziraat Bankasi A.S. |  |  |
| &nbsp;&nbsp;&nbsp; 7.25%, 02/04/2030<sup>(a)</sup> | 400000 | &nbsp;&nbsp; 415107 |
| &nbsp;&nbsp;&nbsp; 8.99%, 08/02/2034<sup>(a)(d)</sup> | 200000 | &nbsp;&nbsp; 212591 |
| Turkiye Garanti Bankasi A.S. |  |  |
| &nbsp;&nbsp;&nbsp; 8.38%, 02/28/2034<sup>(a)(d)</sup> | 200000 | &nbsp;&nbsp; 207921 |
| &nbsp;&nbsp;&nbsp; 8.13%, 01/03/2035<sup>(a)(d)</sup> | 400000 | &nbsp;&nbsp; 414287 |
| &nbsp;&nbsp;&nbsp; 8.13%, 01/08/2036<sup>(a)(d)</sup> | 200000 | &nbsp;&nbsp; 206484 |
| &nbsp;&nbsp;&nbsp; 7.63%, 04/15/2036<sup>(a)(d)</sup> | 290000 | &nbsp;&nbsp; 292692 |
| Turkiye Ihracat Kredi Bankasi A.S. |  |  |
| &nbsp;&nbsp;&nbsp; 5.75%, 07/06/2026<sup>(a)</sup> | 340000 | &nbsp;&nbsp; 342485 |
| &nbsp;&nbsp;&nbsp; 9.00%, 01/28/2027<sup>(a)</sup> | 200000 | &nbsp;&nbsp; 209643 |
| &nbsp;&nbsp;&nbsp; 7.50%, 02/06/2028<sup>(a)</sup> | 200000 | &nbsp;&nbsp; 209460 |
| &nbsp;&nbsp;&nbsp; 6.88%, 07/03/2028<sup>(a)</sup> | 200000 | &nbsp;&nbsp; 207079 |
| &nbsp;&nbsp;&nbsp; 6.38%, 10/03/2030<sup>(a)</sup> | 200000 | &nbsp;&nbsp; 200903 |
| Turkiye Is Bankasi A.S. |  |  |
| &nbsp;&nbsp;&nbsp; 7.75%, 06/12/2029<sup>(a)</sup> | 200000 | &nbsp;&nbsp; 211529 |
| &nbsp;&nbsp;&nbsp; 7.38%, 04/02/2036<sup>(a)(d)</sup> | 200000 | &nbsp;&nbsp; 199330 |
| Turkiye Vakiflar Bankasi T.A.O. |  |  |
| &nbsp;&nbsp;&nbsp; 5.50%, 10/01/2026<sup>(a)</sup> | 235000 | &nbsp;&nbsp; 236997 |
| &nbsp;&nbsp;&nbsp; 9.00%, 10/12/2028<sup>(a)</sup> | 270000 | &nbsp;&nbsp; 293531 |
| &nbsp;&nbsp;&nbsp; 6.88%, 01/07/2030<sup>(a)</sup> | 200000 | &nbsp;&nbsp; 204765 |
| &nbsp;&nbsp;&nbsp; 7.25%, 07/31/2030<sup>(a)</sup> | 400000 | &nbsp;&nbsp; 413132 |
| &nbsp;&nbsp;&nbsp; 8.99%, 10/05/2034<sup>(a)(d)</sup> | 400000 | &nbsp;&nbsp; 423777 |
| &nbsp;&nbsp;&nbsp; Ulker Biskuvi Sanayi A.S., 7.88%, <br> 07/08/2031<sup>(a)</sup><br>| 400000 | &nbsp;&nbsp; 421943 |
| &nbsp;&nbsp;&nbsp; Vestel Elektronik Sanayi ve Ticaret A.S., <br> 9.75%, 05/15/2029<sup>(a)</sup><br>| 200000 | &nbsp;&nbsp; 150340 |
| WE Soda Investments Holding PLC |  |  |
| &nbsp;&nbsp;&nbsp; 9.50%, 10/06/2028<sup>(a)</sup> | 480000 | &nbsp;&nbsp; 496328 |
| &nbsp;&nbsp;&nbsp; 9.38%, 02/14/2031<sup>(a)</sup> | 250000 | &nbsp;&nbsp; 259374 |
| Yapi Ve Kredi Bankasi A.S. |  |  |
| &nbsp;&nbsp;&nbsp; 9.25%, 10/16/2028<sup>(a)</sup> | 290000 | &nbsp;&nbsp; 317584 |
| &nbsp;&nbsp;&nbsp; 7.13%, 10/10/2029<sup>(a)</sup> | 150000 | &nbsp;&nbsp; 155706 |
| &nbsp;&nbsp;&nbsp; 7.25%, 03/03/2030<sup>(a)</sup> | 200000 | &nbsp;&nbsp; 207369 |
| &nbsp;&nbsp;&nbsp; 9.25%, 01/17/2034<sup>(a)(d)</sup> | 220000 | &nbsp;&nbsp; 233583 |
| &nbsp;&nbsp;&nbsp; 7.55%, 06/11/2036<sup>(a)(d)</sup> | 327000 | &nbsp;&nbsp; 326510 |

---

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

------

**Invesco Global ex-US High Yield Corporate Bond ETF (PGHY)—(continued)**

January 31, 2026

*(Unaudited)*

---

| | | | |
|:---|:---|:---|:---|
|  | **Principal**<br> **Amount** | **Principal**<br> **Amount** | **Value** |
| **Turkey-(continued)** | **Turkey-(continued)** | **Turkey-(continued)** | **Turkey-(continued)** |
| &nbsp;&nbsp;&nbsp; Ziraat Katilim Varlik Kiralama A.S., 9.38%, <br> 11/12/2026<sup>(a)</sup><br>| $| 210000 | &nbsp;&nbsp; $218415 |
| &nbsp;&nbsp;&nbsp; Zorlu Enerji Elektrik Uretim A.S., 11.00%, <br> 04/23/2030<sup>(a)</sup><br>|  | 550000 | &nbsp;&nbsp; 513791 |
|  |  |  | &nbsp;&nbsp; 14409393 |
| **Ukraine-0.09%** | **Ukraine-0.09%** | **Ukraine-0.09%** | **Ukraine-0.09%** |
| &nbsp;&nbsp;&nbsp; Ukraine Railways Via Rail Capital Markets PLC, <br> 8.25%, 07/09/2026<sup>(a)(g)</sup><br>|  | 236403 | &nbsp;&nbsp; 174941 |
| **United Arab Emirates-1.06%** | **United Arab Emirates-1.06%** | **United Arab Emirates-1.06%** | **United Arab Emirates-1.06%** |
| &nbsp;&nbsp;&nbsp; Alpha Star Holding IX Ltd., 7.00%, <br> 08/26/2028<sup>(a)(b)</sup><br>|  | 475000 | &nbsp;&nbsp; 486565 |
| &nbsp;&nbsp;&nbsp; Alpha Star Holding VIII Ltd., 8.38%, <br> 04/12/2027<sup>(a)</sup><br>|  | 200000 | &nbsp;&nbsp; 206382 |
| Arada Sukuk 2 Ltd., 8.00%, 06/24/2029<sup>(a)</sup> |  | 200000 | &nbsp;&nbsp; 207696 |
| Binghatti Sukuk 2 SPV Ltd. |  |  |  |
| &nbsp;&nbsp;&nbsp; 7.75%, 07/02/2029<sup>(a)</sup> |  | 200000 | &nbsp;&nbsp; 199927 |
| &nbsp;&nbsp;&nbsp; 8.13%, 08/07/2030<sup>(a)</sup> |  | 200000 | &nbsp;&nbsp; 202476 |
| &nbsp;&nbsp;&nbsp; Binghatti Sukuk SPC Ltd., 9.63%, <br> 02/28/2027<sup>(a)</sup><br>|  | 200000 | &nbsp;&nbsp; 205694 |
| &nbsp;&nbsp;&nbsp; Ittihad International II Ltd., 7.38%, <br> 11/13/2030<sup>(a)</sup><br>|  | 200000 | &nbsp;&nbsp; 208671 |
| MAF Global Securities Ltd., 5.75%<sup>(a)(d)(e)</sup> |  | 200000 | &nbsp;&nbsp; 197609 |
| Omniyat Sukuk 1 Ltd., 8.38%, 05/06/2028<sup>(a)</sup> |  | 200000 | &nbsp;&nbsp; 206244 |
|  |  |  | &nbsp;&nbsp; 2121264 |
| **United Kingdom-6.72%** | **United Kingdom-6.72%** | **United Kingdom-6.72%** | **United Kingdom-6.72%** |
| &nbsp;&nbsp;&nbsp; Allwyn Entertainment Financing (UK) PLC, <br> 7.88%, 04/30/2029<sup>(a)(b)</sup><br>|  | 292000 | &nbsp;&nbsp; 304173 |
| Ardonagh Finco Ltd., 7.75%, 02/15/2031<sup>(a)</sup> |  | 550000 | &nbsp;&nbsp; 568902 |
| &nbsp;&nbsp;&nbsp; Ardonagh Group Finance Ltd., 8.88%, <br> 02/15/2032<sup>(a)</sup><br>|  | 700000 | &nbsp;&nbsp; 722385 |
| &nbsp;&nbsp;&nbsp; Belron UK Finance PLC, 5.75%, <br> 10/15/2029<sup>(a)</sup><br>|  | 600000 | &nbsp;&nbsp; 611743 |
| &nbsp;&nbsp;&nbsp; Brightstar Lottery PLC/ Brightstar Global <br> Solutions Corp., 5.75%, 01/15/2033<sup>(a)</sup><br>|  | 327000 | &nbsp;&nbsp; 327324 |
| &nbsp;&nbsp;&nbsp; British Telecommunications PLC, 4.25%, <br> 11/23/2081<sup>(a)(d)</sup><br>|  | 240000 | &nbsp;&nbsp; 239097 |
| &nbsp;&nbsp;&nbsp; California Buyer Ltd./Atlantica Sustainable <br> Infrastructure PLC, 6.38%, 02/15/2032<sup>(a)</sup><br>|  | 300000 | &nbsp;&nbsp; 299488 |
| &nbsp;&nbsp;&nbsp; Connect Finco S.a.r.l./Connect US Finco LLC, <br> 9.00%, 09/15/2029<sup>(a)</sup><br>|  | 800000 | &nbsp;&nbsp; 850094 |
| &nbsp;&nbsp;&nbsp; EG Global Finance PLC, 12.00%, <br> 11/30/2028<sup>(a)</sup><br>|  | 400000 | &nbsp;&nbsp; 433202 |
| &nbsp;&nbsp;&nbsp; Froneri Lux Finco S.a.r.l., 6.00%, <br> 08/01/2032<sup>(a)(b)</sup><br>|  | 250000 | &nbsp;&nbsp; 253401 |
| Global Auto Holdings Ltd./AAG FH UK Ltd. |  |  |  |
| &nbsp;&nbsp;&nbsp; 8.38%, 01/15/2029<sup>(a)</sup> |  | 200000 | &nbsp;&nbsp; 198914 |
| &nbsp;&nbsp;&nbsp; 11.50%, 08/15/2029<sup>(a)</sup> |  | 200000 | &nbsp;&nbsp; 212165 |
| &nbsp;&nbsp;&nbsp; 8.75%, 01/15/2032<sup>(a)</sup> |  | 300000 | &nbsp;&nbsp; 289972 |
| &nbsp;&nbsp;&nbsp; Howden UK Refinance PLC/Howden UK <br> Refinance 2 PLC/Howden US Refinance LLC<br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 7.25%, 02/15/2031<sup>(a)</sup> |  | 485000 | &nbsp;&nbsp; 501942 |
| &nbsp;&nbsp;&nbsp; 8.13%, 02/15/2032<sup>(a)</sup> |  | 200000 | &nbsp;&nbsp; 204003 |
| &nbsp;&nbsp;&nbsp; Ithaca Energy (North Sea) PLC, 8.13%, <br> 10/15/2029<sup>(a)(b)</sup><br>|  | 450000 | &nbsp;&nbsp; 470164 |
| Jaguar Land Rover Automotive PLC |  |  |  |
| &nbsp;&nbsp;&nbsp; 4.50%, 10/01/2027<sup>(a)</sup> |  | 220000 | &nbsp;&nbsp; 218083 |
| &nbsp;&nbsp;&nbsp; 5.88%, 01/15/2028<sup>(a)</sup> |  | 220000 | &nbsp;&nbsp; 220153 |
| &nbsp;&nbsp;&nbsp; Merlin Entertainments Group U.S. Holdings, <br> Inc., 7.38%, 02/15/2031<sup>(a)</sup><br>|  | 200000 | &nbsp;&nbsp; 169512 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | **Principal**<br> **Amount** | **Principal**<br> **Amount** | **Value** |
| **United Kingdom-(continued)** | **United Kingdom-(continued)** | **United Kingdom-(continued)** | **United Kingdom-(continued)** |
| &nbsp;&nbsp;&nbsp; Panama Infrastructure Receivable Purchaser <br> PLC, 0.00%, 04/05/2032<sup>(a)(h)</sup><br>| $| 550000 | &nbsp;&nbsp; $430078 |
| &nbsp;&nbsp;&nbsp; Trident Energy Finance PLC, 12.50%, <br> 11/30/2029<sup>(a)</sup><br>|  | 400000 | &nbsp;&nbsp; 417297 |
| &nbsp;&nbsp;&nbsp; Virgin Media Finance PLC, 5.00%, <br> 07/15/2030<sup>(a)</sup><br>|  | 420000 | &nbsp;&nbsp; 367349 |
| Virgin Media Secured Finance PLC |  |  |  |
| &nbsp;&nbsp;&nbsp; 5.50%, 05/15/2029<sup>(a)</sup> |  | 581000 | &nbsp;&nbsp; 573352 |
| &nbsp;&nbsp;&nbsp; 4.50%, 08/15/2030<sup>(a)</sup> |  | 410000 | &nbsp;&nbsp; 379074 |
| &nbsp;&nbsp;&nbsp; Virgin Media Vendor Financing Notes IV DAC, <br> 5.00%, 07/15/2028<sup>(a)</sup><br>|  | 220000 | &nbsp;&nbsp; 220000 |
| VMED O2 UK Financing I PLC |  |  |  |
| &nbsp;&nbsp;&nbsp; 4.25%, 01/31/2031<sup>(a)</sup> |  | 561000 | &nbsp;&nbsp; 507947 |
| &nbsp;&nbsp;&nbsp; 4.75%, 07/15/2031<sup>(a)</sup> |  | 580000 | &nbsp;&nbsp; 530409 |
| &nbsp;&nbsp;&nbsp; 7.75%, 04/15/2032<sup>(a)</sup> |  | 400000 | &nbsp;&nbsp; 411858 |
| &nbsp;&nbsp;&nbsp; 6.75%, 01/15/2033<sup>(a)</sup> |  | 400000 | &nbsp;&nbsp; 390564 |
| Vodafone Group PLC |  |  |  |
| &nbsp;&nbsp;&nbsp; 7.00%, 04/04/2079<sup>(d)</sup> |  | 921000 | &nbsp;&nbsp; 971697 |
| &nbsp;&nbsp;&nbsp; 4.13%, 06/04/2081<sup>(d)</sup> |  | 500000 | &nbsp;&nbsp; 470718 |
| &nbsp;&nbsp;&nbsp; 5.13%, 06/04/2081<sup>(d)</sup> |  | 413000 | &nbsp;&nbsp; 328064 |
| Zegona Finance PLC, 8.63%, 07/15/2029<sup>(a)</sup> |  | 350000 | &nbsp;&nbsp; 370046 |
|  |  |  | &nbsp;&nbsp; 13463170 |
| **United States-3.65%** | **United States-3.65%** | **United States-3.65%** | **United States-3.65%** |
| Ardagh Group S.A. |  |  |  |
| &nbsp;&nbsp;&nbsp; 9.50%, 12/01/2030<sup>(a)</sup> |  | 945000 | &nbsp;&nbsp; 1021805 |
| &nbsp;&nbsp;&nbsp; 12.00% PIK, 1.00% Cash, 12.00%, <br> 12/01/2030<sup>(a)(c)</sup><br>|  | 300000 | &nbsp;&nbsp; 284625 |
| Avianca Midco 2 PLC |  |  |  |
| &nbsp;&nbsp;&nbsp; 9.00%, 12/01/2028<sup>(a)(b)</sup> |  | 448000 | &nbsp;&nbsp; 457520 |
| &nbsp;&nbsp;&nbsp; 9.63%, 02/14/2030<sup>(a)</sup> |  | 550000 | &nbsp;&nbsp; 563937 |
| &nbsp;&nbsp;&nbsp; Brightstar Lottery PLC, 5.25%, <br> 01/15/2029<sup>(a)</sup><br>|  | 327000 | &nbsp;&nbsp; 326642 |
| CNG Holdings, Inc., 14.50%, 06/30/2026<sup>(a)</sup> |  | 300000 | &nbsp;&nbsp; 275250 |
| Constellium SE, 3.75%, 04/15/2029<sup>(a)</sup> |  | 150000 | &nbsp;&nbsp; 145278 |
| &nbsp;&nbsp;&nbsp; Dresdner Funding Trust I, 8.15%, <br> 06/30/2031<sup>(a)</sup><br>|  | 550000 | &nbsp;&nbsp; 606713 |
| EUSHI Finance, Inc., 6.25%, 04/01/2056<sup>(d)</sup> |  | 315000 | &nbsp;&nbsp; 317081 |
| &nbsp;&nbsp;&nbsp; Garrett Motion Holdings, Inc./Garrett LX I <br> S.a.r.l., 7.75%, 05/31/2032<sup>(a)</sup><br>|  | 325000 | &nbsp;&nbsp; 344263 |
| GFL Environmental, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp; 4.00%, 08/01/2028<sup>(a)</sup> |  | 287000 | &nbsp;&nbsp; 282629 |
| &nbsp;&nbsp;&nbsp; 4.75%, 06/15/2029<sup>(a)</sup> |  | 310000 | &nbsp;&nbsp; 308184 |
| &nbsp;&nbsp;&nbsp; 4.38%, 08/15/2029<sup>(a)(b)</sup> |  | 310000 | &nbsp;&nbsp; 303917 |
| &nbsp;&nbsp;&nbsp; 6.75%, 01/15/2031<sup>(a)</sup> |  | 400000 | &nbsp;&nbsp; 418952 |
| &nbsp;&nbsp;&nbsp; ION Platform Finance US, Inc., 7.88%, <br> 09/30/2032<sup>(a)</sup><br>|  | 617000 | &nbsp;&nbsp; 541889 |
| &nbsp;&nbsp;&nbsp; ION Platform Finance US, Inc./ION Platform <br> Finance S.a.r.l.<br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 8.75%, 05/01/2029<sup>(a)</sup> |  | 288000 | &nbsp;&nbsp; 274798 |
| &nbsp;&nbsp;&nbsp; 9.50%, 05/30/2029<sup>(a)</sup> |  | 320000 | &nbsp;&nbsp; 309060 |
| &nbsp;&nbsp;&nbsp; Methanex US Operations, Inc., 6.25%, <br> 03/15/2032<sup>(a)</sup><br>|  | 325000 | &nbsp;&nbsp; 335344 |
| &nbsp;&nbsp;&nbsp; Playtika Holding Corp., 4.25%, <br> 03/15/2029<sup>(a)</sup><br>|  | 231000 | &nbsp;&nbsp; 200820 |
|  |  |  | &nbsp;&nbsp; 7318707 |
| **Uzbekistan-0.66%** | **Uzbekistan-0.66%** | **Uzbekistan-0.66%** | **Uzbekistan-0.66%** |
| JSC Uzbekneftegaz, 8.75%, 05/07/2030<sup>(a)</sup> |  | 300000 | &nbsp;&nbsp; 325031 |
| Navoi Mining and Metallurgical Combinat |  |  |  |
| &nbsp;&nbsp;&nbsp; 6.70%, 10/17/2028<sup>(a)</sup> |  | 200000 | &nbsp;&nbsp; 207541 |

---

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

------

**Invesco Global ex-US High Yield Corporate Bond ETF (PGHY)—(continued)**

January 31, 2026

*(Unaudited)*

---

| | | | |
|:---|:---|:---|:---|
|  | **Principal**<br> **Amount** | **Principal**<br> **Amount** | **Value** |
| **Uzbekistan-(continued)** | **Uzbekistan-(continued)** | **Uzbekistan-(continued)** | **Uzbekistan-(continued)** |
| &nbsp;&nbsp;&nbsp; 6.75%, 05/14/2030<sup>(a)</sup> | $| 200000 | &nbsp;&nbsp; $211073 |
| &nbsp;&nbsp;&nbsp; 6.95%, 10/17/2031<sup>(a)</sup> |  | 250000 | &nbsp;&nbsp; 268997 |
| Uzbekneftegaz JSC, 4.75%, 11/16/2028<sup>(a)</sup> |  | 310000 | &nbsp;&nbsp; 302175 |
|  |  |  | &nbsp;&nbsp; 1314817 |
| **Zambia-1.03%** | **Zambia-1.03%** | **Zambia-1.03%** | **Zambia-1.03%** |
| First Quantum Minerals Ltd. |  |  |  |
| &nbsp;&nbsp;&nbsp; 8.63%, 06/01/2031<sup>(a)</sup> |  | 981000 | &nbsp;&nbsp; 1031719 |
| &nbsp;&nbsp;&nbsp; 8.00%, 03/01/2033<sup>(a)</sup> |  | 550000 | &nbsp;&nbsp; 590871 |
| &nbsp;&nbsp;&nbsp; 7.25%, 02/15/2034<sup>(a)</sup> |  | 420000 | &nbsp;&nbsp; 441560 |
|  |  |  | &nbsp;&nbsp; 2064150 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total U.S. Dollar Denominated Bonds & Notes <br>(Cost $188,703,232) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total U.S. Dollar Denominated Bonds & Notes <br>(Cost $188,703,232) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total U.S. Dollar Denominated Bonds & Notes <br>(Cost $188,703,232) | &nbsp;&nbsp; 193952165 |
|  | **Shares** | **Shares** |  |
| **Common Stocks & Other Equity Interests-0.12%** | **Common Stocks & Other Equity Interests-0.12%** | **Common Stocks & Other Equity Interests-0.12%** | **Common Stocks & Other Equity Interests-0.12%** |
| **Spain-0.00%** | **Spain-0.00%** | **Spain-0.00%** | **Spain-0.00%** |
| &nbsp;&nbsp;&nbsp; Codere Online Luxembourg S.A., Wts., expiring <br> 10/15/2034<sup>(a)(i)(j)</sup><br>|  | 10 | &nbsp;&nbsp; 47 |
| **United States-0.12%** | **United States-0.12%** | **United States-0.12%** | **United States-0.12%** |
| Hornbeck Offshore Services, Inc.<sup>(i)(k)</sup> |  | 323 | &nbsp;&nbsp; 16634 |
| &nbsp;&nbsp;&nbsp; Hornbeck Offshore Services, Inc., Wts., <br> TBA<sup>(i)(k)</sup><br>|  | 3246 | &nbsp;&nbsp; 167169 |
| &nbsp;&nbsp;&nbsp; Hornbeck Offshore Services, Inc., Wts., <br> TBA<sup>(i)(k)</sup><br>|  | 2673 | &nbsp;&nbsp; 47446 |
| Premier Brands Group Holdings Co.<sup>(i)(l)</sup> |  | 3222 | &nbsp;&nbsp; 6446 |
| TRU Taj LLC/TRU Taj Finance, Inc.<sup>(i)</sup> |  | 2156 | &nbsp;&nbsp; 1079 |
|  |  |  | &nbsp;&nbsp; 238774 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks & Other Equity Interests <br>(Cost $178,938) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks & Other Equity Interests <br>(Cost $178,938) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks & Other Equity Interests <br>(Cost $178,938) | &nbsp;&nbsp; 238821 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Money Market Funds-2.43%** | **Money Market Funds-2.43%** | **Money Market Funds-2.43%** |
| &nbsp;&nbsp;&nbsp; Invesco Government & Agency Portfolio, <br> Institutional Class, 3.61%<sup>(m)(n)</sup> <br>(Cost $4,865,550)<br>| 4865550 | &nbsp;&nbsp; $4865550 |
| &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES <br>(excluding investments purchased with cash collateral <br> from securities on loan)-99.39% <br>(Cost $193,747,720) | &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES <br>(excluding investments purchased with cash collateral <br> from securities on loan)-99.39% <br>(Cost $193,747,720) | &nbsp;&nbsp; 199056536 |
| **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-6.76%** | **Money Market Funds-6.76%** | **Money Market Funds-6.76%** |
| &nbsp;&nbsp;&nbsp; Invesco Private Government Fund, <br> 3.65%<sup>(m)(n)(o)</sup><br>| 3764279 | &nbsp;&nbsp; 3764279 |
| Invesco Private Prime Fund, 3.80%<sup>(m)(n)(o)</sup> | 9770390 | &nbsp;&nbsp; 9773321 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Investments Purchased with Cash Collateral from <br> Securities on Loan <br>(Cost $13,537,600) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Investments Purchased with Cash Collateral from <br> Securities on Loan <br>(Cost $13,537,600) | &nbsp;&nbsp; 13537600 |
| &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES-106.15% <br>(Cost $207,285,320) | &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES-106.15% <br>(Cost $207,285,320) | &nbsp;&nbsp; 212594136 |
| OTHER ASSETS LESS LIABILITIES-(6.15)% | OTHER ASSETS LESS LIABILITIES-(6.15)% | &nbsp;&nbsp; (12318267)<br>|
| NET ASSETS-100.00% | NET ASSETS-100.00% | &nbsp;&nbsp; $200275869 |

---

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

---

| |
|:---|
| Investment Abbreviations: |
| PIK-Pay-in-Kind |
| TBA-To Be Announced |
| Wts.-Warrants |

---

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

---

| | |
|:---|:---|
| Notes to Schedule of Investments: | Notes to Schedule of Investments: |
| <sup>(a)</sup> | Security purchased or received in a transaction exempt from registration under the Securities Act of 1933, as amended (the "1933 Act"). The security may be <br> resold pursuant to an exemption from registration under the 1933 Act, typically to qualified institutional buyers. The aggregate value of these securities at <br> January 31, 2026 was $170,189,725, which represented 84.98% of the Fund's Net Assets.<br>|
| <sup>(b)</sup> | All or a portion of this security was out on loan at January 31, 2026. |
| <sup>(c)</sup> | All or a portion of this security is Pay-in-Kind. Pay-in-Kind securities pay interest income in the form of securities. |
| <sup>(d)</sup> | Security issued at a fixed rate for a specific period of time, after which it will convert to a variable rate. |
| <sup>(e)</sup> | Perpetual bond with no specified maturity date. |
| <sup>(f)</sup> | Restricted security. The value of this security at January 31, 2026 represented less than 1% of the Fund's Net Assets. |
| <sup>(g)</sup> | Defaulted security. Currently, the issuer is in default with respect to principal and/or interest payments. The aggregate value of these securities at January 31, <br> 2026 was $194,605, which represented less than 1% of the Fund's Net Assets.<br>|
| <sup>(h)</sup> | Denotes a zero coupon security issued at a substantial discount from its value at maturity. |
| <sup>(i)</sup> | Non-income producing security. |
| <sup>(j)</sup> | Security valued using significant unobservable inputs (Level 3). See Note 1. |
| <sup>(k)</sup> | Acquired as part of the Hornbeck Offshore Services, Inc. reorganization. |
| <sup>(l)</sup> | Acquired as part of the Nine West Holding, Inc. reorganization. |
| <sup>(m)</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 January 31, 2026.<br>|

---

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

------

**Invesco Global ex-US High Yield Corporate Bond ETF (PGHY)—(continued)**

January 31, 2026

*(Unaudited)*

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

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Value** <br>**October 31, 2025**<br>| **Purchases** <br>**at Cost**<br>| **Proceeds** <br>**from Sales**<br>| **Change in** <br>**Unrealized** <br>**Appreciation** <br>**(Depreciation)**<br>| **Realized** <br>**Gain**<br>| **Value** <br>**January 31, 2026**<br>| **Dividend Income** |
| **Investments in** <br> **Affiliated Money Market** <br> **Funds:**<br>|  |  |  |  |  |  |  |
| &nbsp;&nbsp; Invesco Government & <br> Agency Portfolio, <br> Institutional Class<br>| &nbsp;&nbsp;&nbsp; $1938406 | &nbsp;&nbsp;&nbsp; $13323731 | &nbsp;&nbsp;&nbsp; $(10396587)<br>| &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $4865550 | &nbsp;&nbsp;&nbsp; $19771 |
| **Investments Purchased** <br> **with Cash Collateral** <br> **from Securities on** <br> **Loan:**<br>|  |  |  |  |  |  |  |
| &nbsp;&nbsp; Invesco Private <br> Government Fund<br>| &nbsp;&nbsp;&nbsp; 3704605 | &nbsp;&nbsp;&nbsp; 5823288 | &nbsp;&nbsp;&nbsp; (5763614)<br>| &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; 3764279 | &nbsp;&nbsp;&nbsp; 36,183<br> \*<br>|
| &nbsp;&nbsp; Invesco Private Prime <br> Fund<br>| &nbsp;&nbsp;&nbsp; 9632369 | &nbsp;&nbsp;&nbsp; 14044429 | &nbsp;&nbsp;&nbsp; (13903477)<br>| &nbsp;&nbsp;&nbsp; (40)<br>| &nbsp;&nbsp;&nbsp; 40 | &nbsp;&nbsp;&nbsp; 9773321 | &nbsp;&nbsp;&nbsp; 97,952<br> \*<br>|
| &nbsp;&nbsp; Total | &nbsp;&nbsp;&nbsp; $15275380 | &nbsp;&nbsp;&nbsp; $33191448 | &nbsp;&nbsp;&nbsp; $(30063678)<br>| &nbsp;&nbsp;&nbsp; $(40)<br>| &nbsp;&nbsp;&nbsp; $40 | &nbsp;&nbsp;&nbsp; $18403150 | &nbsp;&nbsp;&nbsp; $153906 |

---

&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>(n)</sup> The rate shown is the 7-day SEC standardized yield as of January 31, 2026. <br> <sup>(o)</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

**Invesco International Corporate Bond ETF (PICB)**

January 31, 2026

*(Unaudited)*

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

---

| | | | |
|:---|:---|:---|:---|
|  | **Principal**<br> **Amount** | **Principal**<br> **Amount** | **Value** |
| **Non-U.S. Dollar Denominated Bonds & Notes-98.47%**<sup>(a)</sup>  | **Non-U.S. Dollar Denominated Bonds & Notes-98.47%**<sup>(a)</sup>  | **Non-U.S. Dollar Denominated Bonds & Notes-98.47%**<sup>(a)</sup>  | **Non-U.S. Dollar Denominated Bonds & Notes-98.47%**<sup>(a)</sup>  |
| **Australia-2.76%** | **Australia-2.76%** | **Australia-2.76%** | **Australia-2.76%** |
| &nbsp;&nbsp;&nbsp; APA Infrastructure Ltd., 3.50%, <br> 03/22/2030<sup>(b)</sup><br>| GBP | 549000 | &nbsp;&nbsp; $720340 |
| &nbsp;&nbsp;&nbsp; Australia and New Zealand Banking <br> Group Ltd., 4.95%, 02/05/2029<br>| AUD | 750000 | &nbsp;&nbsp; 527231 |
| &nbsp;&nbsp;&nbsp; BHP Billiton Finance Ltd., Series 12, <br> 4.30%, 09/25/2042<br>| GBP | 850000 | &nbsp;&nbsp; 983930 |
| &nbsp;&nbsp;&nbsp; Commonwealth Bank of Australia, <br> 4.90%, 08/17/2028<br>| AUD | 900000 | &nbsp;&nbsp; 632721 |
| National Australia Bank Ltd. |  |  |  |
| &nbsp;&nbsp;&nbsp; 2.13%, 05/24/2028<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 353918 |
| &nbsp;&nbsp;&nbsp; 4.85%, 03/22/2029 | AUD | 1000000 | &nbsp;&nbsp; 700816 |
| &nbsp;&nbsp;&nbsp; 3.13%, 02/28/2030<sup>(b)</sup> | EUR | 400000 | &nbsp;&nbsp; 481119 |
| &nbsp;&nbsp;&nbsp; 5.10%, 10/16/2035<sup>(b)</sup> | AUD | 800000 | &nbsp;&nbsp; 545364 |
| &nbsp;&nbsp;&nbsp; Scentre Group Trust 1, 5.35%, <br> 09/18/2035<sup>(b)</sup><br>| AUD | 1000000 | &nbsp;&nbsp; 677663 |
| &nbsp;&nbsp;&nbsp; Sydney Airport Finance Co. Pty. Ltd., <br> 4.38%, 05/03/2033<sup>(b)</sup><br>| EUR | 200000 | &nbsp;&nbsp; 251046 |
| Westpac Banking Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp; 5.00%, 01/15/2029 | AUD | 800000 | &nbsp;&nbsp; 563248 |
| &nbsp;&nbsp;&nbsp; 5.10%, 05/14/2029 | AUD | 1200000 | &nbsp;&nbsp; 846444 |
| &nbsp;&nbsp;&nbsp; 4.50%, 10/30/2030<sup>(b)</sup> | AUD | 1000000 | &nbsp;&nbsp; 686476 |
|  |  |  | &nbsp;&nbsp; 7970316 |
| **Belgium-0.13%** | **Belgium-0.13%** | **Belgium-0.13%** | **Belgium-0.13%** |
| Belfius Bank S.A., 4.13%, 09/12/2029 | EUR | 300000 | &nbsp;&nbsp; 373143 |
| **Canada-19.25%** | **Canada-19.25%** | **Canada-19.25%** | **Canada-19.25%** |
| Bank of Montreal |  |  |  |
| &nbsp;&nbsp;&nbsp; 3.65%, 04/01/2027 | CAD | 1720000 | &nbsp;&nbsp; 1281868 |
| &nbsp;&nbsp;&nbsp; 4.31%, 06/01/2027 | CAD | 2150000 | &nbsp;&nbsp; 1616894 |
| &nbsp;&nbsp;&nbsp; 4.71%, 12/07/2027 | CAD | 2150000 | &nbsp;&nbsp; 1635994 |
| &nbsp;&nbsp;&nbsp; 3.19%, 03/01/2028 | CAD | 2250000 | &nbsp;&nbsp; 1669850 |
| &nbsp;&nbsp;&nbsp; 5.04%, 05/29/2028 | CAD | 1700000 | &nbsp;&nbsp; 1310274 |
| &nbsp;&nbsp;&nbsp; 4.54%, 12/18/2028 | CAD | 1700000 | &nbsp;&nbsp; 1302051 |
| &nbsp;&nbsp;&nbsp; 4.42%, 07/17/2029 | CAD | 1800000 | &nbsp;&nbsp; 1378349 |
| Bank of Nova Scotia (The) |  |  |  |
| &nbsp;&nbsp;&nbsp; 4.68%, 02/01/2029 | CAD | 1800000 | &nbsp;&nbsp; 1386391 |
| &nbsp;&nbsp;&nbsp; 3.50%, 04/17/2029<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 365938 |
| Bell Canada |  |  |  |
| &nbsp;&nbsp;&nbsp; 3.80%, 08/21/2028 | CAD | 1050000 | &nbsp;&nbsp; 786234 |
| &nbsp;&nbsp;&nbsp; 4.55%, 02/09/2030 | CAD | 900000 | &nbsp;&nbsp; 690245 |
| &nbsp;&nbsp;&nbsp; 2.50%, 05/14/2030 | CAD | 850000 | &nbsp;&nbsp; 606955 |
| &nbsp;&nbsp;&nbsp; 3.00%, 03/17/2031 | CAD | 850000 | &nbsp;&nbsp; 605881 |
| &nbsp;&nbsp;&nbsp; 5.85%, 11/10/2032 | CAD | 1050000 | &nbsp;&nbsp; 857307 |
| &nbsp;&nbsp;&nbsp; 5.15%, 08/24/2034 | CAD | 900000 | &nbsp;&nbsp; 704149 |
| &nbsp;&nbsp;&nbsp; Brookfield Finance II, Inc., 5.43%, <br> 12/14/2032<sup>(b)</sup><br>| CAD | 850000 | &nbsp;&nbsp; 677119 |
| Canadian Imperial Bank of Commerce |  |  |  |
| &nbsp;&nbsp;&nbsp; 4.95%, 06/29/2027 | CAD | 1850000 | &nbsp;&nbsp; 1403713 |
| &nbsp;&nbsp;&nbsp; 5.05%, 10/07/2027 | CAD | 1500000 | &nbsp;&nbsp; 1144792 |
| &nbsp;&nbsp;&nbsp; 5.50%, 01/14/2028 | CAD | 1100000 | &nbsp;&nbsp; 849262 |
| CDP Financial, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp; 3.00%, 04/11/2029<sup>(b)</sup> | EUR | 400000 | &nbsp;&nbsp; 483347 |
| &nbsp;&nbsp;&nbsp; 4.10%, 06/13/2030<sup>(b)</sup> | AUD | 1400000 | &nbsp;&nbsp; 952946 |
| &nbsp;&nbsp;&nbsp; 2.75%, 02/13/2032<sup>(b)</sup> | EUR | 250000 | &nbsp;&nbsp; 295299 |
| &nbsp;&nbsp;&nbsp; 3.25%, 09/30/2035<sup>(b)</sup> | EUR | 250000 | &nbsp;&nbsp; 297096 |
| &nbsp;&nbsp;&nbsp; Cenovus Energy, Inc., 3.50%, <br> 02/07/2028<br>| CAD | 1250000 | &nbsp;&nbsp; 928165 |
| &nbsp;&nbsp;&nbsp; CI Financial Corp., 4.63%, <br> 12/12/2031<sup>(b)</sup><br>| EUR | 200000 | &nbsp;&nbsp; 243611 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | **Principal**<br> **Amount** | **Principal**<br> **Amount** | **Value** |
| **Canada-(continued)** | **Canada-(continued)** | **Canada-(continued)** | **Canada-(continued)** |
| Coastal Gaslink Pipeline L.P. |  |  |  |
| &nbsp;&nbsp;&nbsp; Series J, 5.86%, 03/30/2049 | CAD | 850000 | &nbsp;&nbsp; $702120 |
| &nbsp;&nbsp;&nbsp; Series K, 5.86%, 06/30/2049 | CAD | 850000 | &nbsp;&nbsp; 702578 |
| &nbsp;&nbsp;&nbsp; Federation des caisses Desjardins du <br> Quebec<br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 4.41%, 05/19/2027 | CAD | 900000 | &nbsp;&nbsp; 677963 |
| &nbsp;&nbsp;&nbsp; 5.47%, 11/17/2028 | CAD | 1100000 | &nbsp;&nbsp; 861154 |
| &nbsp;&nbsp;&nbsp; 3.80%, 09/24/2029 | CAD | 1100000 | &nbsp;&nbsp; 825599 |
| &nbsp;&nbsp;&nbsp; First Nations Finance Authority, 1.71%, <br> 06/16/2030<br>| CAD | 900000 | &nbsp;&nbsp; 627863 |
| Hydro One, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp; 4.25%, 01/04/2035 | CAD | 930000 | &nbsp;&nbsp; 700548 |
| &nbsp;&nbsp;&nbsp; Series 64, 3.90%, 11/21/2033 | CAD | 1100000 | &nbsp;&nbsp; 815258 |
| National Bank of Canada |  |  |  |
| &nbsp;&nbsp;&nbsp; 5.22%, 06/14/2028 | CAD | 1500000 | &nbsp;&nbsp; 1162980 |
| &nbsp;&nbsp;&nbsp; 5.02%, 02/01/2029 | CAD | 1350000 | &nbsp;&nbsp; 1048786 |
| &nbsp;&nbsp;&nbsp; OMERS Finance Trust, 3.25%, <br> 01/28/2035<sup>(b)</sup><br>| EUR | 250000 | &nbsp;&nbsp; 298173 |
| Ontario Teachers' Finance Trust |  |  |  |
| &nbsp;&nbsp;&nbsp; 2.85%, 12/04/2031<sup>(b)</sup> | EUR | 200000 | &nbsp;&nbsp; 238006 |
| &nbsp;&nbsp;&nbsp; 1.85%, 05/03/2032<sup>(b)</sup> | EUR | 400000 | &nbsp;&nbsp; 446376 |
| &nbsp;&nbsp;&nbsp; 0.90%, 05/20/2041<sup>(b)</sup> | EUR | 400000 | &nbsp;&nbsp; 319952 |
| &nbsp;&nbsp;&nbsp; Original Wempi, Inc., 7.79%, <br> 10/04/2027<br>| CAD | 500000 | &nbsp;&nbsp; 392265 |
| Rogers Communications, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp; 3.65%, 03/31/2027 | CAD | 1400000 | &nbsp;&nbsp; 1041365 |
| &nbsp;&nbsp;&nbsp; 4.25%, 04/15/2032 | CAD | 850000 | &nbsp;&nbsp; 639356 |
| &nbsp;&nbsp;&nbsp; 6.75%, 11/09/2039 | CAD | 1220000 | &nbsp;&nbsp; 1060535 |
| Royal Bank of Canada |  |  |  |
| &nbsp;&nbsp;&nbsp; 4.61%, 07/26/2027 | CAD | 1700000 | &nbsp;&nbsp; 1288066 |
| &nbsp;&nbsp;&nbsp; 4.64%, 01/17/2028 | CAD | 1700000 | &nbsp;&nbsp; 1295849 |
| &nbsp;&nbsp;&nbsp; 4.63%, 05/01/2028 | CAD | 2150000 | &nbsp;&nbsp; 1643472 |
| &nbsp;&nbsp;&nbsp; 2.13%, 04/26/2029<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 350567 |
| &nbsp;&nbsp;&nbsp; 5.23%, 06/24/2030 | CAD | 1200000 | &nbsp;&nbsp; 952725 |
| TELUS Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp; 5.25%, 11/15/2032 | CAD | 1000000 | &nbsp;&nbsp; 791471 |
| &nbsp;&nbsp;&nbsp; Series CY, 3.30%, 05/02/2029 | CAD | 850000 | &nbsp;&nbsp; 628165 |
| Toronto-Dominion Bank (The) |  |  |  |
| &nbsp;&nbsp;&nbsp; 4.21%, 06/01/2027 | CAD | 2400000 | &nbsp;&nbsp; 1804497 |
| &nbsp;&nbsp;&nbsp; 5.38%, 10/21/2027 | CAD | 1750000 | &nbsp;&nbsp; 1345632 |
| &nbsp;&nbsp;&nbsp; 4.48%, 01/18/2028 | CAD | 1800000 | &nbsp;&nbsp; 1367330 |
| &nbsp;&nbsp;&nbsp; 5.49%, 09/08/2028 | CAD | 1300000 | &nbsp;&nbsp; 1016460 |
| &nbsp;&nbsp;&nbsp; 4.68%, 01/08/2029 | CAD | 2150000 | &nbsp;&nbsp; 1653141 |
| &nbsp;&nbsp;&nbsp; 3.63%, 12/13/2029<sup>(b)</sup> | EUR | 350000 | &nbsp;&nbsp; 427312 |
| &nbsp;&nbsp;&nbsp; 1.95%, 04/08/2030<sup>(b)</sup> | EUR | 373000 | &nbsp;&nbsp; 425882 |
| &nbsp;&nbsp;&nbsp; 3.56%, 04/16/2031<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 363462 |
| &nbsp;&nbsp;&nbsp; 3.13%, 08/03/2032<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 352751 |
| &nbsp;&nbsp;&nbsp; 3.36%, 09/22/2032<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 355953 |
| TransCanada PipeLines Ltd. |  |  |  |
| &nbsp;&nbsp;&nbsp; 3.80%, 04/05/2027 | CAD | 1750000 | &nbsp;&nbsp; 1302559 |
| &nbsp;&nbsp;&nbsp; 5.28%, 07/15/2030<sup>(b)</sup> | CAD | 1050000 | &nbsp;&nbsp; 828516 |
| &nbsp;&nbsp;&nbsp; 4.58%, 02/20/2035 | CAD | 900000 | &nbsp;&nbsp; 677863 |
| &nbsp;&nbsp;&nbsp; 4.34%, 10/15/2049<sup>(b)</sup> | CAD | 900000 | &nbsp;&nbsp; 591980 |
|  |  |  | &nbsp;&nbsp; 55498260 |
| **Denmark-2.15%** | **Denmark-2.15%** | **Denmark-2.15%** | **Denmark-2.15%** |
| Carlsberg Breweries A/S |  |  |  |
| &nbsp;&nbsp;&nbsp; 3.00%, 08/28/2029<sup>(b)</sup> | EUR | 250000 | &nbsp;&nbsp; 299717 |
| &nbsp;&nbsp;&nbsp; 3.25%, 02/28/2032<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 357824 |
| &nbsp;&nbsp;&nbsp; 3.50%, 02/28/2035<sup>(b)</sup> | EUR | 350000 | &nbsp;&nbsp; 412182 |
| &nbsp;&nbsp;&nbsp; 5.50%, 02/28/2039<sup>(b)</sup> | GBP | 400000 | &nbsp;&nbsp; 542469 |

---

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

------

**Invesco International Corporate Bond ETF (PICB)—(continued)**

January 31, 2026

*(Unaudited)*

---

| | | | |
|:---|:---|:---|:---|
|  | **Principal**<br> **Amount** | **Principal**<br> **Amount** | **Value** |
| **Denmark-(continued)** | **Denmark-(continued)** | **Denmark-(continued)** | **Denmark-(continued)** |
| DSV Finance B.V. |  |  |  |
| &nbsp;&nbsp;&nbsp; 3.13%, 11/06/2028<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; $361554 |
| &nbsp;&nbsp;&nbsp; 3.25%, 11/06/2030<sup>(b)</sup> | EUR | 400000 | &nbsp;&nbsp; 481445 |
| &nbsp;&nbsp;&nbsp; Novo Nordisk Finance (Netherlands) <br> B.V.<br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 3.13%, 01/21/2029<sup>(b)</sup> | EUR | 200000 | &nbsp;&nbsp; 242139 |
| &nbsp;&nbsp;&nbsp; 2.88%, 08/27/2030<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 358341 |
| &nbsp;&nbsp;&nbsp; 3.25%, 01/21/2031<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 363379 |
| &nbsp;&nbsp;&nbsp; 3.38%, 05/21/2034<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 357612 |
| &nbsp;&nbsp;&nbsp; 3.63%, 05/27/2037<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 355509 |
| Orsted A/S |  |  |  |
| &nbsp;&nbsp;&nbsp; 4.88%, 01/12/2032<sup>(b)</sup> | GBP | 700000 | &nbsp;&nbsp; 938926 |
| &nbsp;&nbsp;&nbsp; 5.75%, 04/09/2040<sup>(b)</sup> | GBP | 388000 | &nbsp;&nbsp; 504602 |
| &nbsp;&nbsp;&nbsp; 5.38%, 09/13/2042<sup>(b)</sup> | GBP | 500000 | &nbsp;&nbsp; 611975 |
|  |  |  | &nbsp;&nbsp; 6187674 |
| **Finland-0.58%** | **Finland-0.58%** | **Finland-0.58%** | **Finland-0.58%** |
| Nordea Bank Abp |  |  |  |
| &nbsp;&nbsp;&nbsp; 0.50%, 11/02/2028<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 337273 |
| &nbsp;&nbsp;&nbsp; 2.50%, 05/23/2029<sup>(b)</sup> | EUR | 200000 | &nbsp;&nbsp; 237050 |
| &nbsp;&nbsp;&nbsp; 3.38%, 06/11/2029<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 365921 |
| &nbsp;&nbsp;&nbsp; 2.75%, 05/02/2030<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 356386 |
| &nbsp;&nbsp;&nbsp; 3.63%, 03/15/2034<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 362641 |
|  |  |  | &nbsp;&nbsp; 1659271 |
| **France-22.96%** | **France-22.96%** | **France-22.96%** | **France-22.96%** |
| &nbsp;&nbsp;&nbsp; Abertis France SAS, 1.48%, <br> 01/18/2031<sup>(b)</sup><br>| EUR | 200000 | &nbsp;&nbsp; 219810 |
| Action Logement Services |  |  |  |
| &nbsp;&nbsp;&nbsp; 0.38%, 10/05/2031<sup>(b)</sup> | EUR | 200000 | &nbsp;&nbsp; 205458 |
| &nbsp;&nbsp;&nbsp; 1.38%, 04/13/2032<sup>(b)</sup> | EUR | 500000 | &nbsp;&nbsp; 536879 |
| &nbsp;&nbsp;&nbsp; 0.50%, 10/30/2034<sup>(b)</sup> | EUR | 400000 | &nbsp;&nbsp; 371083 |
| &nbsp;&nbsp;&nbsp; 3.75%, 11/25/2035<sup>(b)</sup> | EUR | 100000 | &nbsp;&nbsp; 119608 |
| &nbsp;&nbsp;&nbsp; 4.13%, 10/03/2038<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 363490 |
| &nbsp;&nbsp;&nbsp; 0.75%, 07/19/2041<sup>(b)(c)</sup> | EUR | 300000 | &nbsp;&nbsp; 221297 |
| &nbsp;&nbsp;&nbsp; 3.63%, 05/25/2043<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 329636 |
| &nbsp;&nbsp;&nbsp; Aeroports de Paris S.A., 2.75%, <br> 04/02/2030<sup>(b)</sup><br>| EUR | 400000 | &nbsp;&nbsp; 473831 |
| Airbus SE |  |  |  |
| &nbsp;&nbsp;&nbsp; 1.63%, 06/09/2030<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 340794 |
| &nbsp;&nbsp;&nbsp; 2.38%, 04/07/2032<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 346819 |
| &nbsp;&nbsp;&nbsp; 2.38%, 06/09/2040<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 300327 |
| Autoroutes du Sud de la France S.A. |  |  |  |
| &nbsp;&nbsp;&nbsp; 1.38%, 01/22/2030<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 339234 |
| &nbsp;&nbsp;&nbsp; 1.38%, 02/21/2031<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 330721 |
| Ayvens S.A. |  |  |  |
| &nbsp;&nbsp;&nbsp; 3.88%, 01/24/2028<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 366343 |
| &nbsp;&nbsp;&nbsp; 4.88%, 10/06/2028<sup>(b)</sup> | EUR | 200000 | &nbsp;&nbsp; 251672 |
| Banque Federative du Credit Mutuel |  |  |  |
| &nbsp;&nbsp;&nbsp; 3.00%, 05/07/2030<sup>(b)</sup> | EUR | 200000 | &nbsp;&nbsp; 238477 |
| &nbsp;&nbsp;&nbsp; 3.13%, 03/11/2031<sup>(b)</sup> | EUR | 100000 | &nbsp;&nbsp; 118894 |
| &nbsp;&nbsp;&nbsp; 3.63%, 03/07/2035<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 354607 |
| Banque Federative du Credit Mutuel S.A. |  |  |  |
| &nbsp;&nbsp;&nbsp; 3.88%, 01/26/2028<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 366081 |
| &nbsp;&nbsp;&nbsp; 5.38%, 05/25/2028<sup>(b)</sup> | GBP | 500000 | &nbsp;&nbsp; 701762 |
| &nbsp;&nbsp;&nbsp; 0.25%, 07/19/2028<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 336974 |
| &nbsp;&nbsp;&nbsp; 0.63%, 11/03/2028<sup>(b)</sup> | EUR | 400000 | &nbsp;&nbsp; 449737 |
| &nbsp;&nbsp;&nbsp; 4.13%, 03/13/2029<sup>(b)</sup> | EUR | 400000 | &nbsp;&nbsp; 495089 |
| &nbsp;&nbsp;&nbsp; 1.75%, 03/15/2029<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 345457 |
| &nbsp;&nbsp;&nbsp; 1.88%, 06/18/2029<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 344095 |
| &nbsp;&nbsp;&nbsp; 5.00%, 10/22/2029<sup>(b)</sup> | GBP | 500000 | &nbsp;&nbsp; 697269 |
| &nbsp;&nbsp;&nbsp; 2.63%, 11/06/2029<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 352670 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | **Principal**<br> **Amount** | **Principal**<br> **Amount** | **Value** |
| **France-(continued)** | **France-(continued)** | **France-(continued)** | **France-(continued)** |
| &nbsp;&nbsp;&nbsp; 0.75%, 01/17/2030<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; $327683 |
| &nbsp;&nbsp;&nbsp; 4.38%, 05/02/2030<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 374612 |
| &nbsp;&nbsp;&nbsp; 1.25%, 06/03/2030<sup>(b)</sup> | EUR | 200000 | &nbsp;&nbsp; 220730 |
| &nbsp;&nbsp;&nbsp; 0.63%, 02/21/2031<sup>(b)</sup> | EUR | 400000 | &nbsp;&nbsp; 419514 |
| &nbsp;&nbsp;&nbsp; 3.25%, 10/17/2031<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 357385 |
| &nbsp;&nbsp;&nbsp; 4.75%, 11/10/2031<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 382975 |
| &nbsp;&nbsp;&nbsp; 1.13%, 01/19/2032<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 314548 |
| &nbsp;&nbsp;&nbsp; 5.13%, 01/13/2033<sup>(b)</sup> | EUR | 400000 | &nbsp;&nbsp; 513585 |
| &nbsp;&nbsp;&nbsp; 3.75%, 02/01/2033<sup>(b)</sup> | EUR | 400000 | &nbsp;&nbsp; 486021 |
| &nbsp;&nbsp;&nbsp; 4.13%, 06/14/2033<sup>(b)</sup> | EUR | 400000 | &nbsp;&nbsp; 496725 |
| &nbsp;&nbsp;&nbsp; 4.38%, 01/11/2034<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 368045 |
| &nbsp;&nbsp;&nbsp; 3.75%, 02/03/2034<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 362752 |
| BNP Paribas S.A. |  |  |  |
| &nbsp;&nbsp;&nbsp; 1.38%, 05/28/2029<sup>(b)</sup> | EUR | 400000 | &nbsp;&nbsp; 453589 |
| &nbsp;&nbsp;&nbsp; 3.63%, 09/01/2029<sup>(b)</sup> | EUR | 400000 | &nbsp;&nbsp; 488133 |
| &nbsp;&nbsp;&nbsp; 1.63%, 07/02/2031<sup>(b)</sup> | EUR | 400000 | &nbsp;&nbsp; 435278 |
| &nbsp;&nbsp;&nbsp; 1.25%, 07/13/2031<sup>(b)</sup> | GBP | 700000 | &nbsp;&nbsp; 795162 |
| &nbsp;&nbsp;&nbsp; 2.10%, 04/07/2032<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 331628 |
| &nbsp;&nbsp;&nbsp; 5.75%, 06/13/2032<sup>(b)</sup> | GBP | 800000 | &nbsp;&nbsp; 1136183 |
| &nbsp;&nbsp;&nbsp; 0.63%, 12/03/2032<sup>(b)</sup> | EUR | 500000 | &nbsp;&nbsp; 495658 |
| &nbsp;&nbsp;&nbsp; 4.13%, 05/24/2033<sup>(b)</sup> | EUR | 400000 | &nbsp;&nbsp; 500924 |
| &nbsp;&nbsp;&nbsp; 4.10%, 02/13/2034<sup>(b)</sup> | EUR | 400000 | &nbsp;&nbsp; 493757 |
| &nbsp;&nbsp;&nbsp; 2.00%, 09/13/2036<sup>(b)</sup> | GBP | 600000 | &nbsp;&nbsp; 596290 |
| Bouygues S.A. |  |  |  |
| &nbsp;&nbsp;&nbsp; 1.38%, 06/07/2027<sup>(b)</sup> | EUR | 200000 | &nbsp;&nbsp; 235063 |
| &nbsp;&nbsp;&nbsp; 2.25%, 06/29/2029<sup>(b)</sup> | EUR | 200000 | &nbsp;&nbsp; 235215 |
| &nbsp;&nbsp;&nbsp; 0.50%, 02/11/2030<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 327097 |
| &nbsp;&nbsp;&nbsp; 3.88%, 07/17/2031<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 371586 |
| &nbsp;&nbsp;&nbsp; 4.63%, 06/07/2032<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 384789 |
| &nbsp;&nbsp;&nbsp; 3.25%, 06/30/2037<sup>(b)(c)</sup> | EUR | 300000 | &nbsp;&nbsp; 342274 |
| &nbsp;&nbsp;&nbsp; 5.38%, 06/30/2042<sup>(b)</sup> | EUR | 200000 | &nbsp;&nbsp; 265059 |
| BPCE S.A. |  |  |  |
| &nbsp;&nbsp;&nbsp; 4.38%, 07/13/2028<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 371093 |
| &nbsp;&nbsp;&nbsp; 1.00%, 10/05/2028<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 344022 |
| &nbsp;&nbsp;&nbsp; 3.88%, 01/11/2029<sup>(b)</sup> | EUR | 200000 | &nbsp;&nbsp; 245115 |
| &nbsp;&nbsp;&nbsp; 5.25%, 04/16/2029<sup>(b)</sup> | GBP | 600000 | &nbsp;&nbsp; 832158 |
| &nbsp;&nbsp;&nbsp; 0.25%, 01/14/2031<sup>(b)</sup> | EUR | 400000 | &nbsp;&nbsp; 415604 |
| &nbsp;&nbsp;&nbsp; 0.75%, 03/03/2031<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 315954 |
| &nbsp;&nbsp;&nbsp; 1.00%, 01/14/2032<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 312132 |
| &nbsp;&nbsp;&nbsp; 4.00%, 11/29/2032<sup>(b)</sup> | EUR | 400000 | &nbsp;&nbsp; 495977 |
| &nbsp;&nbsp;&nbsp; 4.50%, 01/13/2033<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 377470 |
| &nbsp;&nbsp;&nbsp; 3.88%, 01/25/2036<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 364282 |
| Capgemini SE |  |  |  |
| &nbsp;&nbsp;&nbsp; 2.00%, 04/15/2029<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 348644 |
| &nbsp;&nbsp;&nbsp; 3.13%, 09/25/2031<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 353883 |
| &nbsp;&nbsp;&nbsp; 2.38%, 04/15/2032<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 338961 |
| &nbsp;&nbsp;&nbsp; 3.50%, 09/25/2034<sup>(b)</sup> | EUR | 400000 | &nbsp;&nbsp; 466776 |
| Cie de Saint-Gobain S.A. |  |  |  |
| &nbsp;&nbsp;&nbsp; 3.38%, 04/08/2030<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 363142 |
| &nbsp;&nbsp;&nbsp; 3.88%, 11/29/2030<sup>(b)</sup> | EUR | 400000 | &nbsp;&nbsp; 495511 |
| &nbsp;&nbsp;&nbsp; 1.88%, 03/15/2031<sup>(b)</sup> | EUR | 200000 | &nbsp;&nbsp; 225670 |
| &nbsp;&nbsp;&nbsp; 3.63%, 04/08/2034<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 360535 |
| &nbsp;&nbsp;&nbsp; Cie Generale des Etablissements Michelin <br> S.C.A., 1.75%, 09/03/2030<sup>(b)</sup><br>| EUR | 300000 | &nbsp;&nbsp; 340411 |
| Credit Agricole Assurances S.A. |  |  |  |
| &nbsp;&nbsp;&nbsp; 2.00%, 07/17/2030<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 339024 |
| &nbsp;&nbsp;&nbsp; 1.50%, 10/06/2031<sup>(b)</sup> | EUR | 200000 | &nbsp;&nbsp; 215494 |
| Credit Agricole S.A. |  |  |  |
| &nbsp;&nbsp;&nbsp; 0.38%, 04/20/2028<sup>(b)</sup> | EUR | 700000 | &nbsp;&nbsp; 795278 |
| &nbsp;&nbsp;&nbsp; 1.13%, 02/24/2029<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 342433 |
| &nbsp;&nbsp;&nbsp; 1.75%, 03/05/2029<sup>(b)</sup> | EUR | 800000 | &nbsp;&nbsp; 923394 |

---

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

------

**Invesco International Corporate Bond ETF (PICB)—(continued)**

January 31, 2026

*(Unaudited)*

---

| | | | |
|:---|:---|:---|:---|
|  | **Principal**<br> **Amount** | **Principal**<br> **Amount** | **Value** |
| **France-(continued)** | **France-(continued)** | **France-(continued)** | **France-(continued)** |
| &nbsp;&nbsp;&nbsp; 2.00%, 03/25/2029<sup>(b)</sup> | EUR | 700000 | &nbsp;&nbsp; $811956 |
| &nbsp;&nbsp;&nbsp; 1.00%, 07/03/2029<sup>(b)</sup> | EUR | 600000 | &nbsp;&nbsp; 676469 |
| &nbsp;&nbsp;&nbsp; 2.50%, 08/29/2029<sup>(b)</sup> | EUR | 500000 | &nbsp;&nbsp; 591811 |
| &nbsp;&nbsp;&nbsp; 4.88%, 10/23/2029<sup>(b)</sup> | GBP | 700000 | &nbsp;&nbsp; 971889 |
| &nbsp;&nbsp;&nbsp; 4.13%, 03/07/2030<sup>(b)</sup> | EUR | 700000 | &nbsp;&nbsp; 875232 |
| &nbsp;&nbsp;&nbsp; 3.88%, 04/20/2031<sup>(b)</sup> | EUR | 900000 | &nbsp;&nbsp; 1113029 |
| &nbsp;&nbsp;&nbsp; 0.88%, 01/14/2032<sup>(b)</sup> | EUR | 700000 | &nbsp;&nbsp; 728664 |
| &nbsp;&nbsp;&nbsp; 3.13%, 02/26/2032<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 356766 |
| &nbsp;&nbsp;&nbsp; 1.13%, 07/12/2032<sup>(b)</sup> | EUR | 200000 | &nbsp;&nbsp; 208671 |
| &nbsp;&nbsp;&nbsp; 4.00%, 01/18/2033<sup>(b)</sup> | EUR | 200000 | &nbsp;&nbsp; 248419 |
| &nbsp;&nbsp;&nbsp; 4.38%, 11/27/2033<sup>(b)</sup> | EUR | 400000 | &nbsp;&nbsp; 502881 |
| &nbsp;&nbsp;&nbsp; 3.75%, 01/22/2034<sup>(b)</sup> | EUR | 500000 | &nbsp;&nbsp; 607519 |
| &nbsp;&nbsp;&nbsp; 3.50%, 09/26/2034<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 354450 |
| &nbsp;&nbsp;&nbsp; 3.88%, 11/28/2034<sup>(b)</sup> | EUR | 400000 | &nbsp;&nbsp; 489903 |
| &nbsp;&nbsp;&nbsp; 3.75%, 05/27/2035<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 357987 |
| &nbsp;&nbsp;&nbsp; 4.13%, 02/26/2036<sup>(b)</sup> | EUR | 600000 | &nbsp;&nbsp; 735736 |
| Danone S.A., 1.21%, 11/03/2028<sup>(b)</sup> | EUR | 400000 | &nbsp;&nbsp; 459734 |
| &nbsp;&nbsp;&nbsp; Dassault Systemes SE, 0.38%, <br> 09/16/2029<sup>(b)</sup><br>| EUR | 300000 | &nbsp;&nbsp; 328700 |
| ENGIE S.A. |  |  |  |
| &nbsp;&nbsp;&nbsp; 3.63%, 01/11/2030<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 366906 |
| &nbsp;&nbsp;&nbsp; 0.50%, 10/24/2030<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 319184 |
| &nbsp;&nbsp;&nbsp; 4.00%, 01/11/2035<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 368450 |
| &nbsp;&nbsp;&nbsp; 5.75%, 10/28/2050<sup>(b)</sup> | GBP | 400000 | &nbsp;&nbsp; 514828 |
| &nbsp;&nbsp;&nbsp; 5.63%, 04/03/2053<sup>(b)</sup> | GBP | 600000 | &nbsp;&nbsp; 752705 |
| &nbsp;&nbsp;&nbsp; 5.00%, 10/01/2060<sup>(b)</sup> | GBP | 1000000 | &nbsp;&nbsp; 1141581 |
| EssilorLuxottica S.A. |  |  |  |
| &nbsp;&nbsp;&nbsp; 2.88%, 03/05/2029<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 359970 |
| &nbsp;&nbsp;&nbsp; 2.63%, 01/10/2030<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 355043 |
| &nbsp;&nbsp;&nbsp; 0.75%, 11/27/2031<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 314708 |
| Kering S.A. |  |  |  |
| &nbsp;&nbsp;&nbsp; 3.63%, 09/05/2031<sup>(b)</sup> | EUR | 200000 | &nbsp;&nbsp; 243379 |
| &nbsp;&nbsp;&nbsp; 3.38%, 03/11/2032<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 357881 |
| &nbsp;&nbsp;&nbsp; 3.88%, 09/05/2035<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 360691 |
| &nbsp;&nbsp;&nbsp; La Banque Postale S.A., 4.00%, <br> 05/03/2028<sup>(b)</sup><br>| EUR | 200000 | &nbsp;&nbsp; 245185 |
| LOreal S.A. |  |  |  |
| &nbsp;&nbsp;&nbsp; 2.75%, 11/19/2030<sup>(b)</sup> | EUR | 200000 | &nbsp;&nbsp; 238171 |
| &nbsp;&nbsp;&nbsp; 3.38%, 01/19/2036<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 354880 |
| LVMH Moet Hennessy Louis Vuitton |  |  |  |
| &nbsp;&nbsp;&nbsp; 2.63%, 03/07/2029<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 357935 |
| &nbsp;&nbsp;&nbsp; 3.25%, 09/07/2029<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 365068 |
| LVMH Moet Hennessy Louis Vuitton SE |  |  |  |
| &nbsp;&nbsp;&nbsp; 0.38%, 02/11/2031<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 317903 |
| &nbsp;&nbsp;&nbsp; 3.50%, 09/07/2033<sup>(b)</sup> | EUR | 400000 | &nbsp;&nbsp; 486030 |
| Orange S.A. |  |  |  |
| &nbsp;&nbsp;&nbsp; 1.38%, 03/20/2028<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 349093 |
| &nbsp;&nbsp;&nbsp; 2.00%, 01/15/2029<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 351798 |
| &nbsp;&nbsp;&nbsp; 1.38%, 01/16/2030<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 339015 |
| &nbsp;&nbsp;&nbsp; 1.88%, 09/12/2030<sup>(b)</sup> | EUR | 400000 | &nbsp;&nbsp; 454597 |
| &nbsp;&nbsp;&nbsp; 3.13%, 11/13/2031<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 357171 |
| &nbsp;&nbsp;&nbsp; 3.25%, 01/15/2032<sup>(b)</sup> | GBP | 700000 | &nbsp;&nbsp; 889553 |
| &nbsp;&nbsp;&nbsp; 0.50%, 09/04/2032<sup>(b)</sup> | EUR | 200000 | &nbsp;&nbsp; 200765 |
| &nbsp;&nbsp;&nbsp; 8.13%, 01/28/2033 | EUR | 350000 | &nbsp;&nbsp; 540581 |
| &nbsp;&nbsp;&nbsp; 0.63%, 12/16/2033<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 289992 |
| &nbsp;&nbsp;&nbsp; 5.63%, 01/23/2034 | GBP | 378000 | &nbsp;&nbsp; 542457 |
| &nbsp;&nbsp;&nbsp; 3.50%, 11/13/2034<sup>(b)</sup> | EUR | 400000 | &nbsp;&nbsp; 473573 |
| &nbsp;&nbsp;&nbsp; 3.75%, 09/04/2037<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 354316 |
| &nbsp;&nbsp;&nbsp; 3.75%, 05/13/2038<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 350752 |
| &nbsp;&nbsp;&nbsp; 5.38%, 11/22/2050<sup>(b)</sup> | GBP | 500000 | &nbsp;&nbsp; 626360 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | **Principal**<br> **Amount** | **Principal**<br> **Amount** | **Value** |
| **France-(continued)** | **France-(continued)** | **France-(continued)** | **France-(continued)** |
| &nbsp;&nbsp;&nbsp; Pernod Ricard S.A., 1.75%, <br> 04/08/2030<sup>(b)</sup><br>| EUR | 300000 | &nbsp;&nbsp; $341105 |
| &nbsp;&nbsp;&nbsp; Schneider Electric SE, 3.62%, <br> 09/02/2037<sup>(b)</sup><br>| EUR | 300000 | &nbsp;&nbsp; 356976 |
| Societe Generale S.A. |  |  |  |
| &nbsp;&nbsp;&nbsp; 2.13%, 09/27/2028<sup>(b)</sup> | EUR | 400000 | &nbsp;&nbsp; 470179 |
| &nbsp;&nbsp;&nbsp; 4.13%, 11/21/2028<sup>(b)</sup> | EUR | 200000 | &nbsp;&nbsp; 248366 |
| &nbsp;&nbsp;&nbsp; 1.75%, 03/22/2029<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 345035 |
| &nbsp;&nbsp;&nbsp; 2.63%, 05/30/2029<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 358014 |
| &nbsp;&nbsp;&nbsp; 1.25%, 06/12/2030<sup>(b)</sup> | EUR | 400000 | &nbsp;&nbsp; 441664 |
| &nbsp;&nbsp;&nbsp; 4.25%, 11/16/2032<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 381036 |
| &nbsp;&nbsp;&nbsp; 5.63%, 06/02/2033<sup>(b)</sup> | EUR | 200000 | &nbsp;&nbsp; 264175 |
| &nbsp;&nbsp;&nbsp; 6.25%, 06/22/2033<sup>(b)</sup> | GBP | 400000 | &nbsp;&nbsp; 590331 |
| Suez S.A. |  |  |  |
| &nbsp;&nbsp;&nbsp; 5.00%, 11/03/2032<sup>(b)</sup> | EUR | 200000 | &nbsp;&nbsp; 257629 |
| &nbsp;&nbsp;&nbsp; 2.88%, 05/24/2034<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 335284 |
| &nbsp;&nbsp;&nbsp; 6.63%, 10/05/2043<sup>(b)</sup> | GBP | 500000 | &nbsp;&nbsp; 716025 |
| &nbsp;&nbsp;&nbsp; TotalEnergies Capital Canada Ltd., <br> 2.13%, 09/18/2029<sup>(b)</sup><br>| EUR | 400000 | &nbsp;&nbsp; 465524 |
| TotalEnergies Capital International S.A. |  |  |  |
| &nbsp;&nbsp;&nbsp; 1.38%, 10/04/2029<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 341118 |
| &nbsp;&nbsp;&nbsp; 3.08%, 07/01/2031<sup>(b)</sup> | EUR | 200000 | &nbsp;&nbsp; 238265 |
| &nbsp;&nbsp;&nbsp; 1.99%, 04/08/2032<sup>(b)</sup> | EUR | 400000 | &nbsp;&nbsp; 446004 |
| &nbsp;&nbsp;&nbsp; 3.16%, 03/03/2033<sup>(b)</sup> | EUR | 200000 | &nbsp;&nbsp; 235841 |
| &nbsp;&nbsp;&nbsp; 3.65%, 07/01/2035<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 356866 |
| &nbsp;&nbsp;&nbsp; 1.62%, 05/18/2040<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 263463 |
| &nbsp;&nbsp;&nbsp; 3.85%, 03/03/2045<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 330347 |
| &nbsp;&nbsp;&nbsp; Unibail-Rodamco-Westfield SE, 1.38%, <br> 12/04/2031<sup>(b)</sup><br>| EUR | 300000 | &nbsp;&nbsp; 317999 |
| Vinci S.A. |  |  |  |
| &nbsp;&nbsp;&nbsp; 1.63%, 01/18/2029<sup>(b)</sup> | EUR | 400000 | &nbsp;&nbsp; 463642 |
| &nbsp;&nbsp;&nbsp; 1.75%, 09/26/2030<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 341088 |
| &nbsp;&nbsp;&nbsp; Westfield America Management Ltd., <br> 2.63%, 03/30/2029<sup>(b)</sup><br>| GBP | 400000 | &nbsp;&nbsp; 518462 |
|  |  |  | &nbsp;&nbsp; 66198112 |
| **Germany-10.77%** | **Germany-10.77%** | **Germany-10.77%** | **Germany-10.77%** |
| &nbsp;&nbsp;&nbsp; Allianz Finance II B.V., Series 62, <br> 4.50%, 03/13/2043<sup>(b)</sup><br>| GBP | 700000 | &nbsp;&nbsp; 847018 |
| Amprion GmbH, 3.97%, 09/22/2032<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 369929 |
| Aroundtown S.A. |  |  |  |
| &nbsp;&nbsp;&nbsp; 0.38%, 04/15/2027<sup>(b)</sup> | EUR | 200000 | &nbsp;&nbsp; 231787 |
| &nbsp;&nbsp;&nbsp; 3.50%, 05/13/2030<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 356568 |
| BASF SE, 1.50%, 03/17/2031<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 333869 |
| Bayer AG |  |  |  |
| &nbsp;&nbsp;&nbsp; 0.38%, 01/12/2029<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 334288 |
| &nbsp;&nbsp;&nbsp; 1.13%, 01/06/2030<sup>(b)</sup> | EUR | 400000 | &nbsp;&nbsp; 444692 |
| &nbsp;&nbsp;&nbsp; 0.63%, 07/12/2031<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 312736 |
| &nbsp;&nbsp;&nbsp; 1.38%, 07/06/2032<sup>(b)</sup> | EUR | 400000 | &nbsp;&nbsp; 423951 |
| &nbsp;&nbsp;&nbsp; 4.63%, 05/26/2033<sup>(b)</sup> | EUR | 400000 | &nbsp;&nbsp; 511488 |
| &nbsp;&nbsp;&nbsp; Bayer Capital Corp. B.V., 2.13%, <br> 12/15/2029<sup>(b)</sup><br>| EUR | 400000 | &nbsp;&nbsp; 463229 |
| BMW Finance N.V. |  |  |  |
| &nbsp;&nbsp;&nbsp; 2.63%, 05/20/2028<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 357974 |
| &nbsp;&nbsp;&nbsp; 1.50%, 02/06/2029<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 345943 |
| &nbsp;&nbsp;&nbsp; BMW International Investment B.V., <br> 3.13%, 07/22/2029<sup>(b)</sup><br>| EUR | 250000 | &nbsp;&nbsp; 301463 |
| &nbsp;&nbsp;&nbsp; BMW US Capital LLC, 3.38%, <br> 02/02/2034<sup>(b)</sup><br>| EUR | 335000 | &nbsp;&nbsp; 396403 |
| Deutsche Bahn AG |  |  |  |
| &nbsp;&nbsp;&nbsp; 1.13%, 12/18/2028<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 344855 |
| &nbsp;&nbsp;&nbsp; 0.63%, 04/15/2036<sup>(b)</sup> | EUR | 350000 | &nbsp;&nbsp; 317480 |

---

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

------

**Invesco International Corporate Bond ETF (PICB)—(continued)**

January 31, 2026

*(Unaudited)*

---

| | | | |
|:---|:---|:---|:---|
|  | **Principal**<br> **Amount** | **Principal**<br> **Amount** | **Value** |
| **Germany-(continued)** | **Germany-(continued)** | **Germany-(continued)** | **Germany-(continued)** |
| &nbsp;&nbsp;&nbsp; 0.63%, 12/08/2050<sup>(b)</sup> | EUR | 248000 | &nbsp;&nbsp; $137693 |
| &nbsp;&nbsp;&nbsp; 1.13%, 05/29/2051<sup>(b)</sup> | EUR | 301000 | &nbsp;&nbsp; 192547 |
| &nbsp;&nbsp;&nbsp; Deutsche Boerse AG, 3.88%, <br> 09/28/2033<sup>(b)</sup><br>| EUR | 300000 | &nbsp;&nbsp; 370883 |
| &nbsp;&nbsp;&nbsp; Deutsche Post AG, 3.50%, <br> 03/25/2036<sup>(b)</sup><br>| EUR | 300000 | &nbsp;&nbsp; 358275 |
| Deutsche Telekom AG |  |  |  |
| &nbsp;&nbsp;&nbsp; 1.75%, 03/25/2031<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 338754 |
| &nbsp;&nbsp;&nbsp; 3.63%, 02/03/2045<sup>(b)</sup> | EUR | 250000 | &nbsp;&nbsp; 275401 |
| &nbsp;&nbsp;&nbsp; Deutsche Telekom International Finance <br> B.V., 2.00%, 12/01/2029<sup>(b)</sup><br>| EUR | 200000 | &nbsp;&nbsp; 233153 |
| E.ON International Finance B.V. |  |  |  |
| &nbsp;&nbsp;&nbsp; 1.50%, 07/31/2029<sup>(b)</sup> | EUR | 250000 | &nbsp;&nbsp; 285968 |
| &nbsp;&nbsp;&nbsp; 6.25%, 06/03/2030<sup>(b)</sup> | GBP | 700000 | &nbsp;&nbsp; 1026299 |
| &nbsp;&nbsp;&nbsp; 6.38%, 06/07/2032 | GBP | 832000 | &nbsp;&nbsp; 1234101 |
| &nbsp;&nbsp;&nbsp; 4.75%, 01/31/2034<sup>(b)</sup> | GBP | 500000 | &nbsp;&nbsp; 667708 |
| &nbsp;&nbsp;&nbsp; 5.88%, 10/30/2037<sup>(b)</sup> | GBP | 750000 | &nbsp;&nbsp; 1041751 |
| &nbsp;&nbsp;&nbsp; 6.75%, 01/27/2039<sup>(b)</sup> | GBP | 600000 | &nbsp;&nbsp; 889720 |
| &nbsp;&nbsp;&nbsp; 6.13%, 07/06/2039<sup>(b)</sup> | GBP | 900000 | &nbsp;&nbsp; 1259138 |
| E.ON SE |  |  |  |
| &nbsp;&nbsp;&nbsp; 3.88%, 01/12/2035<sup>(b)</sup> | EUR | 266000 | &nbsp;&nbsp; 326453 |
| &nbsp;&nbsp;&nbsp; 4.13%, 03/25/2044<sup>(b)</sup> | EUR | 275000 | &nbsp;&nbsp; 327384 |
| &nbsp;&nbsp;&nbsp; EnBW International Finance B.V., <br> 3.75%, 11/20/2035<sup>(b)</sup><br>| EUR | 306000 | &nbsp;&nbsp; 367304 |
| Eurogrid GmbH, 3.73%, 10/18/2035<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 356630 |
| &nbsp;&nbsp;&nbsp; Grand City Properties S.A., 0.13%, <br> 01/11/2028<sup>(b)</sup><br>| EUR | 300000 | &nbsp;&nbsp; 339844 |
| &nbsp;&nbsp;&nbsp; Landesbank Hessen-Thueringen <br> Girozentrale, 3.00%, 03/05/2032<sup>(b)</sup><br>| EUR | 300000 | &nbsp;&nbsp; 355358 |
| Mercedes-Benz Group AG |  |  |  |
| &nbsp;&nbsp;&nbsp; 1.50%, 07/03/2029<sup>(b)</sup> | EUR | 400000 | &nbsp;&nbsp; 459439 |
| &nbsp;&nbsp;&nbsp; 0.75%, 09/10/2030<sup>(b)</sup> | EUR | 200000 | &nbsp;&nbsp; 217273 |
| &nbsp;&nbsp;&nbsp; 1.13%, 11/06/2031<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 321602 |
| &nbsp;&nbsp;&nbsp; 0.75%, 03/11/2033<sup>(b)</sup> | EUR | 279000 | &nbsp;&nbsp; 281625 |
| &nbsp;&nbsp;&nbsp; 2.13%, 07/03/2037<sup>(b)(c)</sup> | EUR | 400000 | &nbsp;&nbsp; 410738 |
| &nbsp;&nbsp;&nbsp; Mercedes-Benz International Finance <br> B.V.<br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 3.25%, 11/15/2030<sup>(b)</sup> | EUR | 328000 | &nbsp;&nbsp; 396409 |
| &nbsp;&nbsp;&nbsp; 3.70%, 05/30/2031<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 370605 |
| Robert Bosch GmbH |  |  |  |
| &nbsp;&nbsp;&nbsp; 3.63%, 06/02/2030<sup>(b)</sup> | EUR | 200000 | &nbsp;&nbsp; 244895 |
| &nbsp;&nbsp;&nbsp; 4.00%, 06/02/2035<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 366327 |
| &nbsp;&nbsp;&nbsp; 4.38%, 06/02/2043<sup>(b)</sup> | EUR | 400000 | &nbsp;&nbsp; 473880 |
| RWE AG, 2.75%, 05/24/2030<sup>(b)</sup> | EUR | 275000 | &nbsp;&nbsp; 325713 |
| SAP SE, 1.63%, 03/10/2031<sup>(b)</sup> | EUR | 400000 | &nbsp;&nbsp; 448702 |
| Siemens Financieringsmaatschappij N.V. |  |  |  |
| &nbsp;&nbsp;&nbsp; 2.63%, 05/27/2029<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 358274 |
| &nbsp;&nbsp;&nbsp; 3.38%, 08/24/2031<sup>(b)</sup> | EUR | 400000 | &nbsp;&nbsp; 487682 |
| &nbsp;&nbsp;&nbsp; 3.13%, 05/22/2032<sup>(b)</sup> | EUR | 400000 | &nbsp;&nbsp; 480903 |
| &nbsp;&nbsp;&nbsp; 3.00%, 09/08/2033<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 354252 |
| &nbsp;&nbsp;&nbsp; 0.50%, 09/05/2034<sup>(b)</sup> | EUR | 200000 | &nbsp;&nbsp; 192844 |
| &nbsp;&nbsp;&nbsp; 3.63%, 05/27/2036<sup>(b)</sup> | EUR | 200000 | &nbsp;&nbsp; 241192 |
| &nbsp;&nbsp;&nbsp; 3.38%, 02/22/2037<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 352051 |
| &nbsp;&nbsp;&nbsp; 3.75%, 09/10/2042<sup>(b)</sup> | GBP | 600000 | &nbsp;&nbsp; 662245 |
| &nbsp;&nbsp;&nbsp; 3.63%, 02/22/2044<sup>(b)</sup> | EUR | 400000 | &nbsp;&nbsp; 449581 |
| &nbsp;&nbsp;&nbsp; Traton Finance Luxembourg S.A., <br> 0.75%, 03/24/2029<sup>(b)</sup><br>| EUR | 400000 | &nbsp;&nbsp; 447091 |
| &nbsp;&nbsp;&nbsp; Volkswagen Bank GmbH, 3.13%, <br> 12/10/2029<sup>(b)</sup><br>| EUR | 100000 | &nbsp;&nbsp; 119503 |
| Volkswagen Financial Services AG |  |  |  |
| &nbsp;&nbsp;&nbsp; 3.25%, 05/19/2027<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 360227 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | **Principal**<br> **Amount** | **Principal**<br> **Amount** | **Value** |
| **Germany-(continued)** | **Germany-(continued)** | **Germany-(continued)** | **Germany-(continued)** |
| &nbsp;&nbsp;&nbsp; 0.88%, 01/31/2028<sup>(b)</sup> | EUR | 230000 | &nbsp;&nbsp; $264398 |
| &nbsp;&nbsp;&nbsp; 3.63%, 05/19/2029<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 364492 |
| &nbsp;&nbsp;&nbsp; Volkswagen Financial Services N.V., <br> 2.13%, 01/18/2028<sup>(b)</sup><br>| GBP | 500000 | &nbsp;&nbsp; 656785 |
| Volkswagen International Finance N.V. |  |  |  |
| &nbsp;&nbsp;&nbsp; 1.88%, 03/30/2027<sup>(b)</sup> | EUR | 600000 | &nbsp;&nbsp; 709402 |
| &nbsp;&nbsp;&nbsp; 0.88%, 09/22/2028<sup>(b)</sup> | EUR | 400000 | &nbsp;&nbsp; 454042 |
| &nbsp;&nbsp;&nbsp; 1.63%, 01/16/2030<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 340676 |
| &nbsp;&nbsp;&nbsp; 3.25%, 11/18/2030<sup>(b)</sup> | EUR | 200000 | &nbsp;&nbsp; 239532 |
| &nbsp;&nbsp;&nbsp; 4.13%, 11/16/2038<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 357155 |
| &nbsp;&nbsp;&nbsp; Volkswagen Leasing GmbH, 3.88%, <br> 10/11/2028<sup>(b)</sup><br>| EUR | 300000 | &nbsp;&nbsp; 366880 |
| Vonovia SE |  |  |  |
| &nbsp;&nbsp;&nbsp; 0.25%, 09/01/2028<sup>(b)</sup> | EUR | 400000 | &nbsp;&nbsp; 447454 |
| &nbsp;&nbsp;&nbsp; 0.75%, 09/01/2032<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 299807 |
| Wintershall Dea Finance B.V. |  |  |  |
| &nbsp;&nbsp;&nbsp; 1.33%, 09/25/2028<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 341010 |
| &nbsp;&nbsp;&nbsp; 1.82%, 09/25/2031<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 321093 |
|  |  |  | &nbsp;&nbsp; 31063816 |
| **Italy-4.68%** | **Italy-4.68%** | **Italy-4.68%** | **Italy-4.68%** |
| ASTM S.p.A. |  |  |  |
| &nbsp;&nbsp;&nbsp; 1.50%, 01/25/2030<sup>(b)</sup> | EUR | 325000 | &nbsp;&nbsp; 366056 |
| &nbsp;&nbsp;&nbsp; 2.38%, 11/25/2033<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 322294 |
| Autostrade per l'Italia S.p.A. |  |  |  |
| &nbsp;&nbsp;&nbsp; 2.00%, 12/04/2028<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 350558 |
| &nbsp;&nbsp;&nbsp; 2.00%, 01/15/2030<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 343257 |
| Enel Finance International N.V. |  |  |  |
| &nbsp;&nbsp;&nbsp; 3.88%, 03/09/2029<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 369115 |
| &nbsp;&nbsp;&nbsp; 0.88%, 09/28/2034<sup>(b)</sup> | EUR | 370000 | &nbsp;&nbsp; 353247 |
| &nbsp;&nbsp;&nbsp; 3.88%, 01/23/2035<sup>(b)</sup> | EUR | 200000 | &nbsp;&nbsp; 242356 |
| &nbsp;&nbsp;&nbsp; 0.88%, 06/17/2036<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 269171 |
| &nbsp;&nbsp;&nbsp; 5.75%, 09/14/2040<sup>(b)</sup> | GBP | 1250000 | &nbsp;&nbsp; 1691250 |
| Enel S.p.A., 5.75%, 06/22/2037<sup>(b)</sup> | GBP | 439000 | &nbsp;&nbsp; 606332 |
| Eni S.p.A. |  |  |  |
| &nbsp;&nbsp;&nbsp; 4.30%, 02/10/2028<sup>(b)</sup> | EUR | 200000 | &nbsp;&nbsp; 245997 |
| &nbsp;&nbsp;&nbsp; 3.63%, 01/29/2029<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 367245 |
| &nbsp;&nbsp;&nbsp; 0.63%, 01/23/2030<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 328116 |
| &nbsp;&nbsp;&nbsp; 2.00%, 05/18/2031<sup>(b)</sup> | EUR | 350000 | &nbsp;&nbsp; 397111 |
| &nbsp;&nbsp;&nbsp; 4.25%, 05/19/2033<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 375762 |
| &nbsp;&nbsp;&nbsp; 3.88%, 01/15/2034<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 365824 |
| Intesa Sanpaolo S.p.A. |  |  |  |
| &nbsp;&nbsp;&nbsp; 0.75%, 03/16/2028<sup>(b)</sup> | EUR | 400000 | &nbsp;&nbsp; 459452 |
| &nbsp;&nbsp;&nbsp; 1.75%, 07/04/2029<sup>(b)</sup> | EUR | 223000 | &nbsp;&nbsp; 256931 |
| &nbsp;&nbsp;&nbsp; 4.88%, 05/19/2030<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 384648 |
| &nbsp;&nbsp;&nbsp; 3.63%, 10/16/2030<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 367315 |
| &nbsp;&nbsp;&nbsp; 5.13%, 08/29/2031<sup>(b)</sup> | EUR | 400000 | &nbsp;&nbsp; 522703 |
| &nbsp;&nbsp;&nbsp; 6.63%, 05/31/2033<sup>(b)</sup> | GBP | 600000 | &nbsp;&nbsp; 903878 |
| Italgas S.p.A., 3.13%, 02/08/2029<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 361605 |
| Snam S.p.A. |  |  |  |
| &nbsp;&nbsp;&nbsp; 3.25%, 07/01/2032<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 356810 |
| &nbsp;&nbsp;&nbsp; 3.88%, 02/19/2034<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 365371 |
| &nbsp;&nbsp;&nbsp; 5.75%, 11/26/2036<sup>(b)</sup> | GBP | 600000 | &nbsp;&nbsp; 835099 |
| UniCredit S.p.A. |  |  |  |
| &nbsp;&nbsp;&nbsp; 0.85%, 01/19/2031<sup>(b)</sup> | EUR | 213000 | &nbsp;&nbsp; 229018 |
| &nbsp;&nbsp;&nbsp; 4.00%, 03/05/2034<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 368614 |
| &nbsp;&nbsp;&nbsp; 4.20%, 06/11/2034<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 369060 |
| &nbsp;&nbsp;&nbsp; 3.73%, 06/10/2035<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 358866 |
| &nbsp;&nbsp;&nbsp; Unipol Assicurazioni S.p.A., 3.25%, <br> 09/23/2030<sup>(b)</sup><br>| EUR | 300000 | &nbsp;&nbsp; 363701 |
|  |  |  | &nbsp;&nbsp; 13496762 |

---

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

------

**Invesco International Corporate Bond ETF (PICB)—(continued)**

January 31, 2026

*(Unaudited)*

---

| | | | |
|:---|:---|:---|:---|
|  | **Principal**<br> **Amount** | **Principal**<br> **Amount** | **Value** |
| **Japan-2.39%** | **Japan-2.39%** | **Japan-2.39%** | **Japan-2.39%** |
| &nbsp;&nbsp;&nbsp; East Japan Railway Co., 5.56%, <br> 09/04/2054<sup>(b)</sup><br>| GBP | 500000 | &nbsp;&nbsp; $653661 |
| &nbsp;&nbsp;&nbsp; Mizuho Financial Group, Inc., 0.69%, <br> 10/07/2030<sup>(b)</sup><br>| EUR | 300000 | &nbsp;&nbsp; 322026 |
| NTT Finance Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp; 2.91%, 03/16/2029<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 358323 |
| &nbsp;&nbsp;&nbsp; 0.34%, 03/03/2030<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 322859 |
| &nbsp;&nbsp;&nbsp; 3.68%, 07/16/2033<sup>(b)</sup> | EUR | 350000 | &nbsp;&nbsp; 422778 |
| &nbsp;&nbsp;&nbsp; 4.09%, 07/16/2037<sup>(b)</sup> | EUR | 350000 | &nbsp;&nbsp; 424415 |
| &nbsp;&nbsp;&nbsp; Series 17, 0.28%, 12/20/2027 | JPY | 200000000 | &nbsp;&nbsp; 1266076 |
| &nbsp;&nbsp;&nbsp; Series 18, 0.38%, 09/20/2030 | JPY | 300000000 | &nbsp;&nbsp; 1802451 |
| &nbsp;&nbsp;&nbsp; Sumitomo Mitsui Financial Group, Inc., <br> 0.63%, 10/23/2029<sup>(b)</sup><br>| EUR | 325000 | &nbsp;&nbsp; 357516 |
| Takeda Pharmaceutical Co. Ltd. |  |  |  |
| &nbsp;&nbsp;&nbsp; 3.00%, 11/21/2030<sup>(b)</sup> | EUR | 400000 | &nbsp;&nbsp; 475154 |
| &nbsp;&nbsp;&nbsp; 1.38%, 07/09/2032 | EUR | 300000 | &nbsp;&nbsp; 317832 |
| &nbsp;&nbsp;&nbsp; 2.00%, 07/09/2040 | EUR | 200000 | &nbsp;&nbsp; 182794 |
|  |  |  | &nbsp;&nbsp; 6905885 |
| **Luxembourg-0.12%** | **Luxembourg-0.12%** | **Luxembourg-0.12%** | **Luxembourg-0.12%** |
| &nbsp;&nbsp;&nbsp; Logicor Financing S.a.r.l., 1.63%, <br> 07/15/2027<sup>(b)</sup><br>| EUR | 300000 | &nbsp;&nbsp; 352223 |
| **Netherlands-3.18%** | **Netherlands-3.18%** | **Netherlands-3.18%** | **Netherlands-3.18%** |
| ABN AMRO Bank N.V. |  |  |  |
| &nbsp;&nbsp;&nbsp; 4.38%, 10/20/2028<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 372889 |
| &nbsp;&nbsp;&nbsp; 2.75%, 06/04/2029<sup>(b)</sup> | EUR | 200000 | &nbsp;&nbsp; 239412 |
| &nbsp;&nbsp;&nbsp; 0.50%, 09/23/2029<sup>(b)</sup> | EUR | 400000 | &nbsp;&nbsp; 437539 |
| &nbsp;&nbsp;&nbsp; 3.13%, 01/21/2030<sup>(b)</sup> | EUR | 200000 | &nbsp;&nbsp; 242006 |
| &nbsp;&nbsp;&nbsp; 4.25%, 02/21/2030<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 374457 |
| &nbsp;&nbsp;&nbsp; 4.63%, 11/08/2030<sup>(b)</sup> | GBP | 600000 | &nbsp;&nbsp; 820736 |
| &nbsp;&nbsp;&nbsp; 3.88%, 01/15/2032<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 369137 |
| &nbsp;&nbsp;&nbsp; 1.00%, 06/02/2033<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 302151 |
| &nbsp;&nbsp;&nbsp; 1.25%, 01/20/2034<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 302279 |
| &nbsp;&nbsp;&nbsp; 4.50%, 11/21/2034<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 382719 |
| Cooperatieve Rabobank U.A. |  |  |  |
| &nbsp;&nbsp;&nbsp; 4.63%, 05/23/2029<sup>(b)</sup> | GBP | 900000 | &nbsp;&nbsp; 1235898 |
| &nbsp;&nbsp;&nbsp; 4.00%, 01/10/2030<sup>(b)</sup> | EUR | 400000 | &nbsp;&nbsp; 495518 |
| &nbsp;&nbsp;&nbsp; 1.13%, 05/07/2031<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 323516 |
| &nbsp;&nbsp;&nbsp; 3.82%, 07/26/2034<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 365386 |
| &nbsp;&nbsp;&nbsp; 3.55%, 10/08/2035<sup>(b)</sup> | EUR | 200000 | &nbsp;&nbsp; 235988 |
| ING Bank N.V., 2.63%, 12/01/2028<sup>(b)</sup> | EUR | 100000 | &nbsp;&nbsp; 119221 |
| ING Groep N.V. |  |  |  |
| &nbsp;&nbsp;&nbsp; 1.38%, 01/11/2028<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 349927 |
| &nbsp;&nbsp;&nbsp; 2.00%, 09/20/2028<sup>(b)</sup> | EUR | 400000 | &nbsp;&nbsp; 469061 |
| &nbsp;&nbsp;&nbsp; 2.50%, 11/15/2030<sup>(b)</sup> | EUR | 400000 | &nbsp;&nbsp; 467481 |
| &nbsp;&nbsp;&nbsp; Koninklijke KPN N.V., 3.88%, <br> 02/16/2036<sup>(b)</sup><br>| EUR | 300000 | &nbsp;&nbsp; 361770 |
| Prosus N.V., 1.29%, 07/13/2029<sup>(b)</sup> | EUR | 200000 | &nbsp;&nbsp; 224337 |
| TenneT Holding B.V. |  |  |  |
| &nbsp;&nbsp;&nbsp; 4.50%, 10/28/2034<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 386054 |
| &nbsp;&nbsp;&nbsp; 0.88%, 06/16/2035<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 293122 |
|  |  |  | &nbsp;&nbsp; 9170604 |
| **New Zealand-0.75%** | **New Zealand-0.75%** | **New Zealand-0.75%** | **New Zealand-0.75%** |
| ASB Bank Ltd., 4.10%, 09/02/2030<sup>(b)</sup> | NZD | 1000000 | &nbsp;&nbsp; 599706 |
| &nbsp;&nbsp;&nbsp; Bank of New Zealand, 5.87%, <br> 09/01/2028<sup>(b)</sup><br>| NZD | 850000 | &nbsp;&nbsp; 539715 |
| Westpac New Zealand Ltd. |  |  |  |
| &nbsp;&nbsp;&nbsp; 4.34%, 09/24/2029 | NZD | 900000 | &nbsp;&nbsp; 548474 |
| &nbsp;&nbsp;&nbsp; 3.87%, 11/19/2030 | NZD | 800000 | &nbsp;&nbsp; 473139 |
|  |  |  | &nbsp;&nbsp; 2161034 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | **Principal**<br> **Amount** | **Principal**<br> **Amount** | **Value** |
| **Norway-2.57%** | **Norway-2.57%** | **Norway-2.57%** | **Norway-2.57%** |
| Equinor ASA |  |  |  |
| &nbsp;&nbsp;&nbsp; 6.88%, 03/11/2031<sup>(b)</sup> | GBP | 700000 | &nbsp;&nbsp; $1062985 |
| &nbsp;&nbsp;&nbsp; 1.38%, 05/22/2032<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 320980 |
| &nbsp;&nbsp;&nbsp; 1.63%, 02/17/2035<sup>(b)</sup> | EUR | 200000 | &nbsp;&nbsp; 203430 |
| Norway Government Bond |  |  |  |
| &nbsp;&nbsp;&nbsp; Series 479, 1.75%, 02/17/2027<sup>(b)</sup> | NOK | 10000000 | &nbsp;&nbsp; 1018902 |
| &nbsp;&nbsp;&nbsp; Series 480, 2.00%, 04/26/2028<sup>(b)</sup> | NOK | 9770000 | &nbsp;&nbsp; 977556 |
| &nbsp;&nbsp;&nbsp; Series 481, 1.75%, 09/06/2029<sup>(b)</sup> | NOK | 5000000 | &nbsp;&nbsp; 483483 |
| &nbsp;&nbsp;&nbsp; Series 482, 1.38%, 08/19/2030<sup>(b)</sup> | NOK | 5900000 | &nbsp;&nbsp; 549695 |
| &nbsp;&nbsp;&nbsp; Series 483, 1.25%, 09/17/2031<sup>(b)</sup> | NOK | 1350000 | &nbsp;&nbsp; 121470 |
| &nbsp;&nbsp;&nbsp; Series 484, 2.13%, 05/18/2032<sup>(b)</sup> | NOK | 3642000 | &nbsp;&nbsp; 339740 |
| &nbsp;&nbsp;&nbsp; Series 486, 3.00%, 08/15/2033<sup>(b)</sup> | NOK | 4500000 | &nbsp;&nbsp; 436376 |
| &nbsp;&nbsp;&nbsp; Series 487, 3.63%, 04/13/2034<sup>(b)</sup> | NOK | 5000000 | &nbsp;&nbsp; 503299 |
| &nbsp;&nbsp;&nbsp; Series 488, 3.63%, 05/31/2039<sup>(b)</sup> | NOK | 2900000 | &nbsp;&nbsp; 283722 |
| &nbsp;&nbsp;&nbsp; Series 489, 3.75%, 06/12/2035<sup>(b)</sup> | NOK | 5100000 | &nbsp;&nbsp; 514136 |
| Telenor ASA, 1.13%, 05/31/2029<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 339204 |
| Var Energi ASA, 3.88%, 03/12/2031<sup>(b)</sup> | EUR | 200000 | &nbsp;&nbsp; 241571 |
|  |  |  | &nbsp;&nbsp; 7396549 |
| **Portugal-0.12%** | **Portugal-0.12%** | **Portugal-0.12%** | **Portugal-0.12%** |
| &nbsp;&nbsp;&nbsp; EDP Finance B.V., 1.88%, <br> 09/21/2029<sup>(b)</sup><br>| EUR | 300000 | &nbsp;&nbsp; 345738 |
| **Singapore-0.19%** | **Singapore-0.19%** | **Singapore-0.19%** | **Singapore-0.19%** |
| &nbsp;&nbsp;&nbsp; Temasek Financial I Ltd., 5.13%, <br> 07/26/2040<sup>(b)</sup><br>| GBP | 400000 | &nbsp;&nbsp; 548058 |
| **Spain-4.52%** | **Spain-4.52%** | **Spain-4.52%** | **Spain-4.52%** |
| Abertis Infraestructuras S.A. |  |  |  |
| &nbsp;&nbsp;&nbsp; 2.38%, 09/27/2027<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 356984 |
| &nbsp;&nbsp;&nbsp; 3.00%, 03/27/2031<sup>(b)</sup> | EUR | 200000 | &nbsp;&nbsp; 237056 |
| Banco Bilbao Vizcaya Argentaria S.A. |  |  |  |
| &nbsp;&nbsp;&nbsp; 4.38%, 10/14/2029<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 378571 |
| &nbsp;&nbsp;&nbsp; 3.13%, 07/15/2030<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 359480 |
| &nbsp;&nbsp;&nbsp; 3.50%, 03/26/2031<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 366119 |
| &nbsp;&nbsp;&nbsp; 3.88%, 01/15/2034<sup>(b)(c)</sup> | EUR | 400000 | &nbsp;&nbsp; 494427 |
| &nbsp;&nbsp;&nbsp; 3.75%, 08/26/2035<sup>(b)</sup> | EUR | 200000 | &nbsp;&nbsp; 239794 |
| Banco Santander S.A. |  |  |  |
| &nbsp;&nbsp;&nbsp; 3.88%, 04/22/2029<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 368702 |
| &nbsp;&nbsp;&nbsp; 5.13%, 01/25/2030<sup>(b)</sup> | GBP | 400000 | &nbsp;&nbsp; 561409 |
| &nbsp;&nbsp;&nbsp; 4.25%, 06/12/2030<sup>(b)</sup> | EUR | 200000 | &nbsp;&nbsp; 250731 |
| &nbsp;&nbsp;&nbsp; 1.63%, 10/22/2030<sup>(b)</sup> | EUR | 200000 | &nbsp;&nbsp; 222830 |
| &nbsp;&nbsp;&nbsp; 5.38%, 01/17/2031<sup>(b)</sup> | GBP | 600000 | &nbsp;&nbsp; 851388 |
| &nbsp;&nbsp;&nbsp; 4.88%, 10/18/2031<sup>(b)</sup> | EUR | 600000 | &nbsp;&nbsp; 774997 |
| &nbsp;&nbsp;&nbsp; 1.00%, 11/04/2031<sup>(b)(c)</sup> | EUR | 300000 | &nbsp;&nbsp; 318268 |
| &nbsp;&nbsp;&nbsp; 3.25%, 05/27/2032<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 357629 |
| &nbsp;&nbsp;&nbsp; 3.50%, 10/02/2032<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 359583 |
| &nbsp;&nbsp;&nbsp; 3.75%, 01/09/2034<sup>(b)</sup> | EUR | 400000 | &nbsp;&nbsp; 488014 |
| &nbsp;&nbsp;&nbsp; 3.50%, 02/17/2035<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 354630 |
| CaixaBank S.A. |  |  |  |
| &nbsp;&nbsp;&nbsp; 3.75%, 09/07/2029<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 369304 |
| &nbsp;&nbsp;&nbsp; 4.25%, 09/06/2030<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 377441 |
| &nbsp;&nbsp;&nbsp; 4.38%, 11/29/2033<sup>(b)</sup> | EUR | 200000 | &nbsp;&nbsp; 255821 |
| &nbsp;&nbsp;&nbsp; 3.38%, 06/26/2035<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 354269 |
| Cellnex Finance Co. S.A. |  |  |  |
| &nbsp;&nbsp;&nbsp; 1.50%, 06/08/2028<sup>(b)</sup> | EUR | 400000 | &nbsp;&nbsp; 463972 |
| &nbsp;&nbsp;&nbsp; 2.00%, 02/15/2033<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 322123 |
| &nbsp;&nbsp;&nbsp; Cellnex Telecom S.A., 1.75%, <br> 10/23/2030<sup>(b)</sup><br>| EUR | 300000 | &nbsp;&nbsp; 335830 |
| Iberdrola Finanzas S.A. |  |  |  |
| &nbsp;&nbsp;&nbsp; 1.38%, 03/11/2032<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 324522 |
| &nbsp;&nbsp;&nbsp; 5.25%, 10/31/2036<sup>(b)</sup> | GBP | 400000 | &nbsp;&nbsp; 547166 |

---

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

------

**Invesco International Corporate Bond ETF (PICB)—(continued)**

January 31, 2026

*(Unaudited)*

---

| | | | |
|:---|:---|:---|:---|
|  | **Principal**<br> **Amount** | **Principal**<br> **Amount** | **Value** |
| **Spain-(continued)** | **Spain-(continued)** | **Spain-(continued)** | **Spain-(continued)** |
| &nbsp;&nbsp;&nbsp; Santander Consumer Finance S.A., <br> 3.75%, 01/17/2029<sup>(b)</sup><br>| EUR | 300000 | &nbsp;&nbsp; $369046 |
| Telefonica Emisiones S.A. |  |  |  |
| &nbsp;&nbsp;&nbsp; 1.72%, 01/12/2028<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 352535 |
| &nbsp;&nbsp;&nbsp; 1.79%, 03/12/2029<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 347989 |
| &nbsp;&nbsp;&nbsp; 0.66%, 02/03/2030<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 327345 |
| &nbsp;&nbsp;&nbsp; 2.59%, 05/25/2031<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 348976 |
| &nbsp;&nbsp;&nbsp; 3.70%, 01/24/2032<sup>(b)</sup> | EUR | 200000 | &nbsp;&nbsp; 242951 |
| &nbsp;&nbsp;&nbsp; 3.72%, 01/23/2034<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 355544 |
|  |  |  | &nbsp;&nbsp; 13035446 |
| **Sweden-2.05%** | **Sweden-2.05%** | **Sweden-2.05%** | **Sweden-2.05%** |
| Skandinaviska Enskilda Banken AB |  |  |  |
| &nbsp;&nbsp;&nbsp; 0.63%, 11/12/2029<sup>(b)</sup> | EUR | 200000 | &nbsp;&nbsp; 219325 |
| &nbsp;&nbsp;&nbsp; 3.38%, 03/19/2030<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 363429 |
| Svenska Handelsbanken AB |  |  |  |
| &nbsp;&nbsp;&nbsp; 0.05%, 09/06/2028<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 335631 |
| &nbsp;&nbsp;&nbsp; 1.38%, 02/23/2029<sup>(b)</sup> | EUR | 230000 | &nbsp;&nbsp; 263195 |
| &nbsp;&nbsp;&nbsp; 0.50%, 02/18/2030<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 324130 |
| Swedbank AB, 4.13%, 11/13/2028<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 371982 |
| Sweden Government Bond |  |  |  |
| &nbsp;&nbsp;&nbsp; Series 1056, 2.25%, 06/01/2032<sup>(b)</sup> | SEK | 1200000 | &nbsp;&nbsp; 134008 |
| &nbsp;&nbsp;&nbsp; Series 1059, 1.00%, 11/12/2026<sup>(b)</sup> | SEK | 3500000 | &nbsp;&nbsp; 392462 |
| &nbsp;&nbsp;&nbsp; Series 1060, 0.75%, 05/12/2028<sup>(b)</sup> | SEK | 10400000 | &nbsp;&nbsp; 1142823 |
| &nbsp;&nbsp;&nbsp; Series 1061, 0.75%, 11/12/2029<sup>(b)</sup> | SEK | 10100000 | &nbsp;&nbsp; 1082831 |
| &nbsp;&nbsp;&nbsp; Series 1062, 0.13%, 05/12/2031<sup>(b)</sup> | SEK | 2200000 | &nbsp;&nbsp; 221543 |
| Vattenfall AB, 6.88%, 04/15/2039<sup>(b)</sup> | GBP | 700000 | &nbsp;&nbsp; 1067379 |
|  |  |  | &nbsp;&nbsp; 5918738 |
| **Switzerland-1.41%** | **Switzerland-1.41%** | **Switzerland-1.41%** | **Switzerland-1.41%** |
| &nbsp;&nbsp;&nbsp; Holcim Finance (Luxembourg) S.A., <br> 0.50%, 09/03/2030<sup>(b)</sup><br>| EUR | 300000 | &nbsp;&nbsp; 319890 |
| &nbsp;&nbsp;&nbsp; Lonza Finance International N.V., <br> 3.88%, 04/24/2036<sup>(b)</sup><br>| EUR | 300000 | &nbsp;&nbsp; 360183 |
| Richemont International Holding S.A. |  |  |  |
| &nbsp;&nbsp;&nbsp; 1.50%, 03/26/2030<sup>(b)</sup> | EUR | 400000 | &nbsp;&nbsp; 451968 |
| &nbsp;&nbsp;&nbsp; 2.00%, 03/26/2038<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 300761 |
| Swisscom Finance B.V. |  |  |  |
| &nbsp;&nbsp;&nbsp; 3.50%, 11/29/2031<sup>(b)</sup> | EUR | 400000 | &nbsp;&nbsp; 487067 |
| &nbsp;&nbsp;&nbsp; 3.63%, 11/29/2036<sup>(b)</sup> | EUR | 200000 | &nbsp;&nbsp; 238129 |
| UBS AG, 0.50%, 03/31/2031<sup>(b)</sup> | EUR | 400000 | &nbsp;&nbsp; 420561 |
| UBS Group AG |  |  |  |
| &nbsp;&nbsp;&nbsp; 0.65%, 09/10/2029<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 330142 |
| &nbsp;&nbsp;&nbsp; 0.88%, 11/03/2031<sup>(b)</sup> | EUR | 400000 | &nbsp;&nbsp; 419108 |
| &nbsp;&nbsp;&nbsp; 0.63%, 01/18/2033<sup>(b)</sup> | EUR | 348000 | &nbsp;&nbsp; 343349 |
| &nbsp;&nbsp;&nbsp; 0.63%, 02/24/2033<sup>(b)</sup> | EUR | 400000 | &nbsp;&nbsp; 393718 |
|  |  |  | &nbsp;&nbsp; 4064876 |
| **United Kingdom-14.29%** | **United Kingdom-14.29%** | **United Kingdom-14.29%** | **United Kingdom-14.29%** |
| Anglian Water Services Financing PLC |  |  |  |
| &nbsp;&nbsp;&nbsp; 6.00%, 06/20/2039<sup>(b)</sup> | GBP | 503000 | &nbsp;&nbsp; 673200 |
| &nbsp;&nbsp;&nbsp; 5.75%, 06/07/2043<sup>(b)</sup> | GBP | 500000 | &nbsp;&nbsp; 628011 |
| &nbsp;&nbsp;&nbsp; 6.25%, 09/12/2044<sup>(b)</sup> | GBP | 600000 | &nbsp;&nbsp; 791746 |
| B.A.T. International Finance PLC |  |  |  |
| &nbsp;&nbsp;&nbsp; 2.25%, 01/16/2030<sup>(b)</sup> | EUR | 400000 | &nbsp;&nbsp; 461635 |
| &nbsp;&nbsp;&nbsp; 6.00%, 11/24/2034<sup>(b)</sup> | GBP | 375000 | &nbsp;&nbsp; 538567 |
| Blend Funding PLC |  |  |  |
| &nbsp;&nbsp;&nbsp; 5.26%, 06/11/2032<sup>(b)</sup> | GBP | 550000 | &nbsp;&nbsp; 772636 |
| &nbsp;&nbsp;&nbsp; 3.46%, 09/21/2047<sup>(b)</sup> | GBP | 600000 | &nbsp;&nbsp; 573746 |
| &nbsp;&nbsp;&nbsp; 2.92%, 04/05/2054<sup>(b)</sup> | GBP | 600000 | &nbsp;&nbsp; 483293 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | **Principal**<br> **Amount** | **Principal**<br> **Amount** | **Value** |
| **United Kingdom-(continued)** | **United Kingdom-(continued)** | **United Kingdom-(continued)** | **United Kingdom-(continued)** |
| British Telecommunications PLC |  |  |  |
| &nbsp;&nbsp;&nbsp; 3.13%, 11/21/2031<sup>(b)</sup> | GBP | 450000 | &nbsp;&nbsp; $573271 |
| &nbsp;&nbsp;&nbsp; 6.38%, 06/23/2037<sup>(b)</sup> | GBP | 450000 | &nbsp;&nbsp; 654769 |
| Cadent Finance PLC |  |  |  |
| &nbsp;&nbsp;&nbsp; 2.63%, 09/22/2038<sup>(b)</sup> | GBP | 600000 | &nbsp;&nbsp; 586058 |
| &nbsp;&nbsp;&nbsp; 2.75%, 09/22/2046<sup>(b)</sup> | GBP | 600000 | &nbsp;&nbsp; 497392 |
| &nbsp;&nbsp;&nbsp; CCEP Finance (Ireland) DAC, 0.88%, <br> 05/06/2033<sup>(b)</sup><br>| EUR | 300000 | &nbsp;&nbsp; 301649 |
| Centrica PLC, 4.25%, 09/12/2044<sup>(b)</sup> | GBP | 500000 | &nbsp;&nbsp; 539712 |
| &nbsp;&nbsp;&nbsp; Clarion Funding PLC, 3.13%, <br> 04/19/2048<sup>(b)</sup><br>| GBP | 430000 | &nbsp;&nbsp; 380598 |
| &nbsp;&nbsp;&nbsp; Community Finance Co. 1 PLC, 5.02%, <br> 07/31/2034<br>| GBP | 500000 | &nbsp;&nbsp; 688046 |
| Diageo Finance PLC |  |  |  |
| &nbsp;&nbsp;&nbsp; 3.13%, 02/28/2031<sup>(b)</sup> | EUR | 200000 | &nbsp;&nbsp; 239018 |
| &nbsp;&nbsp;&nbsp; 2.50%, 03/27/2032<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 344217 |
| &nbsp;&nbsp;&nbsp; 2.75%, 06/08/2038<sup>(b)</sup> | GBP | 500000 | &nbsp;&nbsp; 522866 |
| &nbsp;&nbsp;&nbsp; easyJet FinCo B.V., 1.88%, <br> 03/03/2028<sup>(b)</sup><br>| EUR | 400000 | &nbsp;&nbsp; 469718 |
| GlaxoSmithKline Capital PLC |  |  |  |
| &nbsp;&nbsp;&nbsp; 5.25%, 12/19/2033 | GBP | 500000 | &nbsp;&nbsp; 716054 |
| &nbsp;&nbsp;&nbsp; 1.63%, 05/12/2035<sup>(b)</sup> | GBP | 700000 | &nbsp;&nbsp; 721802 |
| &nbsp;&nbsp;&nbsp; 6.38%, 03/09/2039 | GBP | 550000 | &nbsp;&nbsp; 817093 |
| Heathrow Funding Ltd. |  |  |  |
| &nbsp;&nbsp;&nbsp; 6.45%, 12/10/2031<sup>(b)</sup> | GBP | 800000 | &nbsp;&nbsp; 1182519 |
| &nbsp;&nbsp;&nbsp; 5.88%, 05/13/2041<sup>(b)</sup> | GBP | 600000 | &nbsp;&nbsp; 813633 |
| &nbsp;&nbsp;&nbsp; 4.63%, 10/31/2046<sup>(b)</sup> | GBP | 600000 | &nbsp;&nbsp; 671677 |
| &nbsp;&nbsp;&nbsp; High Speed Rail Finance 1 PLC, 4.38%, <br> 11/01/2038<sup>(b)</sup><br>| GBP | 550000 | &nbsp;&nbsp; 704161 |
| &nbsp;&nbsp;&nbsp; Housing & Care 21, 3.29%, <br> 11/08/2049<sup>(b)</sup><br>| GBP | 500000 | &nbsp;&nbsp; 454946 |
| &nbsp;&nbsp;&nbsp; HSBC Holdings PLC, 7.00%, <br> 04/07/2038<sup>(b)</sup><br>| GBP | 600000 | &nbsp;&nbsp; 897511 |
| &nbsp;&nbsp;&nbsp; Imperial Brands Finance Netherlands <br> B.V.<br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 5.25%, 02/15/2031<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 386607 |
| &nbsp;&nbsp;&nbsp; 1.75%, 03/18/2033<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 312204 |
| Imperial Brands Finance PLC |  |  |  |
| &nbsp;&nbsp;&nbsp; 4.88%, 06/07/2032<sup>(b)</sup> | GBP | 500000 | &nbsp;&nbsp; 680673 |
| &nbsp;&nbsp;&nbsp; 3.88%, 02/12/2034<sup>(b)</sup> | EUR | 200000 | &nbsp;&nbsp; 236164 |
| &nbsp;&nbsp;&nbsp; Lloyds Bank PLC, 6.50%, <br> 09/17/2040<sup>(b)</sup><br>| GBP | 760000 | &nbsp;&nbsp; 1141207 |
| &nbsp;&nbsp;&nbsp; LSEGA Financing PLC, 4.88%, <br> 09/19/2032<sup>(b)</sup><br>| GBP | 400000 | &nbsp;&nbsp; 551371 |
| Motability Operations Group PLC |  |  |  |
| &nbsp;&nbsp;&nbsp; 4.00%, 01/17/2030<sup>(b)</sup> | EUR | 200000 | &nbsp;&nbsp; 246879 |
| &nbsp;&nbsp;&nbsp; 3.88%, 01/24/2034<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 362167 |
| &nbsp;&nbsp;&nbsp; 4.25%, 06/17/2035<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 368073 |
| &nbsp;&nbsp;&nbsp; 3.63%, 03/10/2036<sup>(b)</sup> | GBP | 500000 | &nbsp;&nbsp; 590824 |
| &nbsp;&nbsp;&nbsp; 2.38%, 07/03/2039<sup>(b)</sup> | GBP | 500000 | &nbsp;&nbsp; 473235 |
| &nbsp;&nbsp;&nbsp; 2.13%, 01/18/2042<sup>(b)</sup> | GBP | 500000 | &nbsp;&nbsp; 418373 |
| &nbsp;&nbsp;&nbsp; 5.75%, 06/17/2051<sup>(b)</sup> | GBP | 450000 | &nbsp;&nbsp; 578493 |
| &nbsp;&nbsp;&nbsp; 5.63%, 01/24/2054<sup>(b)</sup> | GBP | 400000 | &nbsp;&nbsp; 506451 |
| &nbsp;&nbsp;&nbsp; National Grid Electricity Distribution <br> (West Midlands) PLC, 5.75%, <br> 04/16/2032<sup>(b)</sup><br>| GBP | 625000 | &nbsp;&nbsp; 894294 |
| &nbsp;&nbsp;&nbsp; National Grid PLC, 4.28%, <br> 01/16/2035<sup>(b)</sup><br>| EUR | 200000 | &nbsp;&nbsp; 248246 |
| Nationwide Building Society |  |  |  |
| &nbsp;&nbsp;&nbsp; 3.00%, 03/03/2030<sup>(b)</sup> | EUR | 200000 | &nbsp;&nbsp; 238886 |
| &nbsp;&nbsp;&nbsp; 3.13%, 08/18/2032<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 353489 |

---

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

------

**Invesco International Corporate Bond ETF (PICB)—(continued)**

January 31, 2026

*(Unaudited)*

---

| | | | |
|:---|:---|:---|:---|
|  | **Principal**<br> **Amount** | **Principal**<br> **Amount** | **Value** |
| **United Kingdom-(continued)** | **United Kingdom-(continued)** | **United Kingdom-(continued)** | **United Kingdom-(continued)** |
| NatWest Markets PLC |  |  |  |
| &nbsp;&nbsp;&nbsp; 5.00%, 11/18/2029<sup>(b)</sup> | GBP | 500000 | &nbsp;&nbsp; $695333 |
| &nbsp;&nbsp;&nbsp; 3.13%, 01/10/2030<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 360544 |
| &nbsp;&nbsp;&nbsp; 3.00%, 09/03/2030<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 357031 |
| &nbsp;&nbsp;&nbsp; Optivo Finance PLC, 5.25%, <br> 03/13/2043<sup>(b)</sup><br>| GBP | 400000 | &nbsp;&nbsp; 505611 |
| Places For People Treasury PLC |  |  |  |
| &nbsp;&nbsp;&nbsp; 6.25%, 12/06/2041<sup>(b)</sup> | GBP | 400000 | &nbsp;&nbsp; 551939 |
| &nbsp;&nbsp;&nbsp; 5.75%, 05/11/2055<sup>(b)</sup> | GBP | 400000 | &nbsp;&nbsp; 497939 |
| &nbsp;&nbsp;&nbsp; Reckitt Benckiser Treasury Services <br> PLC, 1.75%, 05/19/2032<sup>(b)</sup><br>| GBP | 500000 | &nbsp;&nbsp; 582364 |
| Rothesay Life PLC |  |  |  |
| &nbsp;&nbsp;&nbsp; 7.73%, 05/16/2033<sup>(b)</sup> | GBP | 400000 | &nbsp;&nbsp; 611299 |
| &nbsp;&nbsp;&nbsp; 7.02%, 12/10/2034<sup>(b)</sup> | GBP | 500000 | &nbsp;&nbsp; 737235 |
| &nbsp;&nbsp;&nbsp; Sanctuary Capital PLC, 2.38%, <br> 04/14/2050<sup>(b)</sup><br>| GBP | 450000 | &nbsp;&nbsp; 334097 |
| &nbsp;&nbsp;&nbsp; Santander UK PLC, 3.35%, <br> 03/25/2030<sup>(b)</sup><br>| EUR | 300000 | &nbsp;&nbsp; 362905 |
| &nbsp;&nbsp;&nbsp; Scottish Hydro Electric Transmission <br> PLC, 5.50%, 01/15/2044<sup>(b)</sup><br>| GBP | 450000 | &nbsp;&nbsp; 582284 |
| &nbsp;&nbsp;&nbsp; Scottish Widows Ltd., 7.00%, <br> 06/16/2043<sup>(b)</sup><br>| GBP | 550000 | &nbsp;&nbsp; 794805 |
| &nbsp;&nbsp;&nbsp; Severn Trent Utilities Finance PLC, <br> 4.88%, 01/24/2042<sup>(b)</sup><br>| GBP | 500000 | &nbsp;&nbsp; 603053 |
| Standard Chartered PLC |  |  |  |
| &nbsp;&nbsp;&nbsp; 5.13%, 06/06/2034<sup>(b)</sup> | GBP | 500000 | &nbsp;&nbsp; 670759 |
| &nbsp;&nbsp;&nbsp; 4.38%, 01/18/2038<sup>(b)</sup> | GBP | 500000 | &nbsp;&nbsp; 619805 |
| &nbsp;&nbsp;&nbsp; T.H.F.C. (Funding No.3) PLC, 5.20%, <br> 10/11/2043<sup>(b)</sup><br>| GBP | 900000 | &nbsp;&nbsp; 1148093 |
| &nbsp;&nbsp;&nbsp; Unilever Finance Netherlands B.V., <br> 1.75%, 03/25/2030<sup>(b)</sup><br>| EUR | 300000 | &nbsp;&nbsp; 343620 |
| &nbsp;&nbsp;&nbsp; University of Oxford, 2.54%, <br> 12/08/2117<sup>(b)</sup><br>| GBP | 850000 | &nbsp;&nbsp; 541372 |
| Vodafone Group PLC |  |  |  |
| &nbsp;&nbsp;&nbsp; 1.63%, 11/24/2030<sup>(b)</sup> | EUR | 200000 | &nbsp;&nbsp; 224624 |
| &nbsp;&nbsp;&nbsp; 6.38%, 07/03/2050<sup>(b)</sup> | GBP | 400000 | &nbsp;&nbsp; 556459 |
| &nbsp;&nbsp;&nbsp; 5.13%, 12/02/2052<sup>(b)</sup> | GBP | 500000 | &nbsp;&nbsp; 584058 |
| &nbsp;&nbsp;&nbsp; Wellcome Trust Finance PLC, 4.63%, <br> 07/25/2036<sup>(b)</sup><br>| GBP | 450000 | &nbsp;&nbsp; 601954 |
| Wellcome Trust Ltd. (The) |  |  |  |
| &nbsp;&nbsp;&nbsp; 1.50%, 07/14/2071<sup>(b)</sup> | GBP | 620000 | &nbsp;&nbsp; 290940 |
| &nbsp;&nbsp;&nbsp; 2.52%, 02/07/2118<sup>(b)</sup> | GBP | 700000 | &nbsp;&nbsp; 440453 |
| &nbsp;&nbsp;&nbsp; WPP Finance 2013, 3.63%, <br> 06/09/2031<sup>(b)</sup><br>| EUR | 100000 | &nbsp;&nbsp; 117791 |
| Yorkshire Water Finance PLC |  |  |  |
| &nbsp;&nbsp;&nbsp; 6.38%, 11/18/2034<sup>(b)</sup> | GBP | 400000 | &nbsp;&nbsp; 569833 |
| &nbsp;&nbsp;&nbsp; 2.75%, 04/18/2041<sup>(b)</sup> | GBP | 700000 | &nbsp;&nbsp; 626511 |
|  |  |  | &nbsp;&nbsp; 41199891 |
| **United States-3.60%** | **United States-3.60%** | **United States-3.60%** | **United States-3.60%** |
| &nbsp;&nbsp;&nbsp; BG Energy Capital PLC, 5.00%, <br> 11/04/2036<sup>(b)</sup><br>| GBP | 650000 | &nbsp;&nbsp; 877072 |
| BP Capital Markets PLC |  |  |  |
| &nbsp;&nbsp;&nbsp; 1.23%, 05/08/2031<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 325144 |
| &nbsp;&nbsp;&nbsp; 2.82%, 04/07/2032<sup>(b)</sup> | EUR | 400000 | &nbsp;&nbsp; 465399 |
| Medtronic Global Holdings S.C.A. |  |  |  |
| &nbsp;&nbsp;&nbsp; 0.38%, 10/15/2028 | EUR | 300000 | &nbsp;&nbsp; 337202 |
| &nbsp;&nbsp;&nbsp; 3.00%, 10/15/2028 | EUR | 300000 | &nbsp;&nbsp; 361501 |
| &nbsp;&nbsp;&nbsp; 1.63%, 03/07/2031 | EUR | 300000 | &nbsp;&nbsp; 334049 |
| &nbsp;&nbsp;&nbsp; 3.13%, 10/15/2031 | EUR | 200000 | &nbsp;&nbsp; 239873 |
| &nbsp;&nbsp;&nbsp; 0.75%, 10/15/2032 | EUR | 200000 | &nbsp;&nbsp; 204294 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | **Principal**<br> **Amount** | **Principal**<br> **Amount** | **Value** |
| **United States-(continued)** | **United States-(continued)** | **United States-(continued)** | **United States-(continued)** |
| &nbsp;&nbsp;&nbsp; 3.38%, 10/15/2034 | EUR | 300000 | &nbsp;&nbsp; $357537 |
| &nbsp;&nbsp;&nbsp; 1.50%, 07/02/2039 | EUR | 300000 | &nbsp;&nbsp; 269547 |
| &nbsp;&nbsp;&nbsp; 1.38%, 10/15/2040 | EUR | 200000 | &nbsp;&nbsp; 169441 |
| &nbsp;&nbsp;&nbsp; 1.63%, 10/15/2050 | EUR | 300000 | &nbsp;&nbsp; 209249 |
| &nbsp;&nbsp;&nbsp; Nestle Finance International Ltd., <br> 0.38%, 05/12/2032<sup>(b)</sup><br>| EUR | 250000 | &nbsp;&nbsp; 255891 |
| &nbsp;&nbsp;&nbsp; Nestle Holdings, Inc., 2.50%, <br> 04/04/2032<sup>(b)</sup><br>| GBP | 500000 | &nbsp;&nbsp; 617387 |
| &nbsp;&nbsp;&nbsp; Robert Bosch Finance LLC, 2.75%, <br> 05/28/2028<sup>(b)</sup><br>| EUR | 300000 | &nbsp;&nbsp; 358333 |
| Sanofi S.A. |  |  |  |
| &nbsp;&nbsp;&nbsp; 1.50%, 04/01/2030<sup>(b)</sup> | EUR | 200000 | &nbsp;&nbsp; 228188 |
| &nbsp;&nbsp;&nbsp; Series 12FX, 1.38%, 03/21/2030<sup>(b)</sup> | EUR | 500000 | &nbsp;&nbsp; 567108 |
| &nbsp;&nbsp;&nbsp; Series 20FX, 1.88%, 03/21/2038<sup>(b)</sup> | EUR | 400000 | &nbsp;&nbsp; 399334 |
| Shell International Finance B.V. |  |  |  |
| &nbsp;&nbsp;&nbsp; 0.50%, 11/08/2031<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 310861 |
| &nbsp;&nbsp;&nbsp; 1.88%, 04/07/2032<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 333281 |
| &nbsp;&nbsp;&nbsp; 1.25%, 11/11/2032<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 316552 |
| &nbsp;&nbsp;&nbsp; 0.88%, 11/08/2039<sup>(b)</sup> | EUR | 200000 | &nbsp;&nbsp; 159468 |
| &nbsp;&nbsp;&nbsp; 1.75%, 09/10/2052<sup>(b)</sup> | GBP | 400000 | &nbsp;&nbsp; 251966 |
| Stellantis N.V. |  |  |  |
| &nbsp;&nbsp;&nbsp; 4.50%, 07/07/2028<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 372080 |
| &nbsp;&nbsp;&nbsp; 0.75%, 01/18/2029<sup>(b)</sup> | EUR | 400000 | &nbsp;&nbsp; 448695 |
| &nbsp;&nbsp;&nbsp; 4.38%, 03/14/2030<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 372151 |
| &nbsp;&nbsp;&nbsp; 4.25%, 06/16/2031<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 367545 |
| &nbsp;&nbsp;&nbsp; 2.75%, 04/01/2032<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 336780 |
| &nbsp;&nbsp;&nbsp; 1.25%, 06/20/2033<sup>(b)</sup> | EUR | 300000 | &nbsp;&nbsp; 293563 |
| &nbsp;&nbsp;&nbsp; Toyota Motor Credit Corp., 3.63%, <br> 07/15/2031<sup>(b)</sup><br>| EUR | 200000 | &nbsp;&nbsp; 245283 |
|  |  |  | &nbsp;&nbsp; 10384774 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Non-U.S. Dollar Denominated Bonds & Notes <br>(Cost $275,101,456) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Non-U.S. Dollar Denominated Bonds & Notes <br>(Cost $275,101,456) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Non-U.S. Dollar Denominated Bonds & Notes <br>(Cost $275,101,456) | &nbsp;&nbsp; 283931170 |
|  | **Shares** | **Shares** |  |
| **Money Market Funds-0.33%** | **Money Market Funds-0.33%** | **Money Market Funds-0.33%** | **Money Market Funds-0.33%** |
| &nbsp;&nbsp;&nbsp; Invesco Government & Agency Portfolio, <br> Institutional Class, 3.61%<sup>(d)(e)</sup> <br>(Cost $946,244)<br>|  | 946244 | &nbsp;&nbsp; 946244 |
| &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES <br>(excluding investments purchased with cash collateral <br> from securities on loan)-98.80% <br>(Cost $276,047,700) | &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES <br>(excluding investments purchased with cash collateral <br> from securities on loan)-98.80% <br>(Cost $276,047,700) | &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES <br>(excluding investments purchased with cash collateral <br> from securities on loan)-98.80% <br>(Cost $276,047,700) | &nbsp;&nbsp; 284877414 |
| **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** | **Investments Purchased with Cash Collateral from Securities** <br> **on Loan** |
| **Money Market Funds-0.20%** | **Money Market Funds-0.20%** | **Money Market Funds-0.20%** | **Money Market Funds-0.20%** |
| &nbsp;&nbsp;&nbsp; Invesco Private Government Fund, <br> 3.65%<sup>(d)(e)(f)</sup><br>|  | 161903 | &nbsp;&nbsp; 161903 |
| &nbsp;&nbsp;&nbsp; Invesco Private Prime Fund, <br> 3.80%<sup>(d)(e)(f)</sup><br>|  | 420561 | &nbsp;&nbsp; 420687 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Investments Purchased with Cash Collateral from <br> Securities on Loan <br>(Cost $582,590) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Investments Purchased with Cash Collateral from <br> Securities on Loan <br>(Cost $582,590) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Investments Purchased with Cash Collateral from <br> Securities on Loan <br>(Cost $582,590) | &nbsp;&nbsp; 582590 |
| &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES-99.00% <br>(Cost $276,630,290) | &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES-99.00% <br>(Cost $276,630,290) | &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES-99.00% <br>(Cost $276,630,290) | &nbsp;&nbsp; 285460004 |
| OTHER ASSETS LESS LIABILITIES-1.00% | OTHER ASSETS LESS LIABILITIES-1.00% | OTHER ASSETS LESS LIABILITIES-1.00% | &nbsp;&nbsp; 2874353 |
| NET ASSETS-100.00% | NET ASSETS-100.00% | NET ASSETS-100.00% | &nbsp;&nbsp; $288334357 |

---

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

------

**Invesco International Corporate Bond ETF (PICB)—(continued)**

January 31, 2026

*(Unaudited)*

---

| |
|:---|
| Investment Abbreviations: |
| AUD-Australian Dollar |
| CAD-Canadian Dollar |
| EUR-Euro |
| GBP-British Pound Sterling |
| JPY-Japanese Yen |
| NOK-Norwegian Krone |
| NZD-New Zealand Dollar |
| SEK-Swedish Krona |

---

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

---

| | |
|:---|:---|
| Notes to Schedule of Investments: | Notes to Schedule of Investments: |
| <sup>(a)</sup> | Foreign denominated security. Principal amount is denominated in the currency indicated. |
| <sup>(b)</sup> | Security purchased or received in a transaction exempt from registration under the Securities Act of 1933, as amended (the "1933 Act"). The security may be <br> resold pursuant to an exemption from registration under the 1933 Act, typically to qualified institutional buyers. The aggregate value of these securities at <br> January 31, 2026 was $220,507,872, which represented 76.48% of the Fund's Net Assets.<br>|
| <sup>(c)</sup> | All or a portion of this security was out on loan at January 31, 2026. |
| <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 January 31, 2026.<br>|

---

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

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Value** <br>**October 31, 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>**January 31, 2026**<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; $717695 | &nbsp;&nbsp;&nbsp; $5218833 | &nbsp;&nbsp;&nbsp; $(4990284)<br>| &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $946244 | &nbsp;&nbsp;&nbsp; $6670 |
| **Investments Purchased** <br> **with Cash Collateral from** <br> **Securities on Loan:**<br>|  |  |  |  |  |  |  |
| &nbsp;&nbsp; Invesco Private Government <br> Fund<br>| &nbsp;&nbsp;&nbsp; 524385 | &nbsp;&nbsp;&nbsp; 807266 | &nbsp;&nbsp;&nbsp; (1169748)<br>| &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; 161903 | &nbsp;&nbsp;&nbsp; 3,614<br> \*<br>|
| &nbsp;&nbsp; Invesco Private Prime Fund | &nbsp;&nbsp;&nbsp; 1359240 | &nbsp;&nbsp;&nbsp; 2043496 | &nbsp;&nbsp;&nbsp; (2982048)<br>| &nbsp;&nbsp;&nbsp; 2 | &nbsp;&nbsp;&nbsp; (3)<br>| &nbsp;&nbsp;&nbsp; 420687 | &nbsp;&nbsp;&nbsp; 9,690<br> \*<br>|
| &nbsp;&nbsp; Total | &nbsp;&nbsp;&nbsp; $2601320 | &nbsp;&nbsp;&nbsp; $8069595 | &nbsp;&nbsp;&nbsp; $(9142080)<br>| &nbsp;&nbsp;&nbsp; $2 | &nbsp;&nbsp;&nbsp; $(3)<br>| &nbsp;&nbsp;&nbsp; $1528834 | &nbsp;&nbsp;&nbsp; $19974 |

---

&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 January 31, 2026. <br> <sup>(f)</sup> The security has been segregated to satisfy the commitment to return the cash collateral received in securities lending transactions upon the borrower's return of the securities loaned.

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

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

------

**Notes to Quarterly Schedules of Portfolio Holdings**

January 31, 2026

*(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 January 31, 2026. 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 0-5 Yr US TIPS ETF |  |  |  |  |
| **Investments in Securities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; U.S. Treasury Securities | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $67322330 | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $67322330 |
| &nbsp;&nbsp;&nbsp; Money Market Funds | &nbsp;&nbsp;&nbsp; 108823 | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; 108823 |
| **Total Investments** | &nbsp;&nbsp;&nbsp; $108823 | &nbsp;&nbsp;&nbsp; $67322330 | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $67431153 |
| &nbsp;&nbsp; Invesco Emerging Markets Sovereign Debt ETF |  |  |  |  |
| **Investments in Securities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; U.S. Dollar Denominated Bonds & Notes | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $1268883776 | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $1268883776 |
| &nbsp;&nbsp;&nbsp; Money Market Funds | &nbsp;&nbsp;&nbsp; 4545794 | &nbsp;&nbsp;&nbsp; 101580143 | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; 106125937 |
| **Total Investments** | &nbsp;&nbsp;&nbsp; $4545794 | &nbsp;&nbsp;&nbsp; $1370463919 | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $1375009713 |
| &nbsp;&nbsp; Invesco Global ex-US High Yield Corporate Bond ETF |  |  |  |  |
| **Investments in Securities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; U.S. Dollar Denominated Bonds & Notes | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $193952165 | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $193952165 |
| &nbsp;&nbsp;&nbsp; Common Stocks & Other Equity Interests | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; 238774 | &nbsp;&nbsp;&nbsp; 47 | &nbsp;&nbsp;&nbsp; 238821 |
| &nbsp;&nbsp;&nbsp; Money Market Funds | &nbsp;&nbsp;&nbsp; 4865550 | &nbsp;&nbsp;&nbsp; 13537600 | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; 18403150 |
| **Total Investments in Securities** | &nbsp;&nbsp;&nbsp; 4865550 | &nbsp;&nbsp;&nbsp; 207728539 | &nbsp;&nbsp;&nbsp; 47 | &nbsp;&nbsp;&nbsp; 212594136 |
| **Other Investments - Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Investments Matured | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; 97495 | &nbsp;&nbsp;&nbsp; 4875 | &nbsp;&nbsp;&nbsp; 102370 |
| **Total Investments** | &nbsp;&nbsp;&nbsp; $4865550 | &nbsp;&nbsp;&nbsp; $207826034 | &nbsp;&nbsp;&nbsp; $4922 | &nbsp;&nbsp;&nbsp; $212696506 |
| &nbsp;&nbsp; Invesco International Corporate Bond ETF |  |  |  |  |
| **Investments in Securities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Non-U.S. Dollar Denominated Bonds & Notes | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $283931170 | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $283931170 |
| &nbsp;&nbsp;&nbsp; Money Market Funds | &nbsp;&nbsp;&nbsp; 946244 | &nbsp;&nbsp;&nbsp; 582590 | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; 1528834 |
| **Total Investments** | &nbsp;&nbsp;&nbsp; $946244 | &nbsp;&nbsp;&nbsp; $284513760 | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $285460004 |

---

------

## 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 II

- **b. Investment Company Act file number:** 811-21977

- **c. CIK number of Registrant:** 0001378872

- **d. LEI of Registrant:** O540V2L4S174Y60FMD36

- **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 Global ex-US High Yield Corporate Bond ETF

- **b. EDGAR series identifier (if any):** S000040915

- **c. LEI of Series:** 549300GTL6XXLFU4LC25

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

- **a. Date of fiscal year-end:** 2026-10-31

- **b. Date as of which information is reported:** 2026-01-31

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $216801936.26

**Total Liabilities:** $16526067.55

**Net Assets:** $200275868.71

**Cash Not Reported:** $888113.76

**Currency Risk Metrics (dv01):**

- 

**Credit Spread Risk - Investment Grade (dv01):**

- **3-Month:** -633.59857807 | **1-Year:** -1427.13340111 | **5-Year:** -4104.54298206 | **10-Year:** -2895.00348225 | **30-Year:** -2523.58062687

**Credit Spread Risk - Non-Investment Grade (dv01):**

- **3-Month:** -4823.55901135 | **1-Year:** -8882.77705343 | **5-Year:** -26258.38277733 | **10-Year:** -10351.04764483 | **30-Year:** -2548.97697388

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000126877 | 0.01%                | 0.81%                | 0.95%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $134.39                  | $-1026707.68                               |
| Month 2  | $-158407.93              | $501496.79                                 |
| Month 3  | $-952128.79              | $1476798.10                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Petroleos Mexicanos                                                             | Petroleos Mexicanos                                                             | CUSIP: 71654QBX9<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |     40000 | PA      | $30318.66     | 0.02%             | 2046-01-23      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Banco de Bogota S.A.                                                            | Banco de Bogota S.A.                                                            | CUSIP: LW0752441<br>LEI: 549300LYHE7LWSKDZT53 | Long             | DBT              | CORP              | CO        |    490000 | PA      | $492760.17    | 0.25%             | 2026-05-12      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Emera Inc.                                                                      | Emera Inc., Series 16-A                                                         | CUSIP: 290876AD3<br>LEI: NQZVQT2P5IUF2PGA1Q48 | Long             | DBT              | CORP              | CA        |    570000 | PA      | $574164.42    | 0.29%             | 2076-06-15      | Variable      | 6.75%                 | No            |                  2 | On Loan: No      |
| Teva Pharmaceutical Finance Netherlands III B.V.                                | Teva Pharmaceutical Finance Netherlands III B.V.                                | CUSIP: 88167AAE1<br>LEI: 5493004T21MOAFINJP35 | Long             | DBT              | CORP              | NL        |    745000 | PA      | $739457.35    | 0.37%             | 2026-10-01      | Fixed         | 3.15%                 | No            |                  2 | On Loan: —       |
| Teva Pharmaceutical Finance Netherlands III B.V.                                | Teva Pharmaceutical Finance Netherlands III B.V.                                | CUSIP: 88167AAF8<br>LEI: 5493004T21MOAFINJP35 | Long             | DBT              | CORP              | NL        |    871000 | PA      | $667009.47    | 0.33%             | 2046-10-01      | Fixed         | 4.10%                 | No            |                  2 | On Loan: No      |
| MTN (Mauritius) Investments Ltd.                                                | MTN (Mauritius) Investments Ltd.                                                | CUSIP: QZ8096781<br>LEI: 2549009PQD415OQIR074 | Long             | DBT              | CORP              | MU        |    220000 | PA      | $222475.00    | 0.11%             | 2026-10-13      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Delhi International Airport Ltd.                                                | Delhi International Airport Ltd.                                                | CUSIP: QZ9443701<br>LEI: 335800HBF5DARYMEUD12 | Long             | DBT              | CORP              | IN        |    200000 | PA      | $201663.38    | 0.10%             | 2026-10-31      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| O1 Properties Finance PLC                                                       | O1 Properties Finance PLC                                                       | CUSIP: QZ6248228<br>LEI: 213800T9QXCMOXOOYB36 | Long             | DBT              | CORP              | CY        |    500000 | PA      | $19664.32     | 0.01%             | 2028-09-28      | Fixed         | 0.50%                 | No            |                  2 | On Loan: No      |
| Petrobras Global Finance B.V.                                                   | Petrobras Global Finance B.V.                                                   | CUSIP: 71647NAS8<br>LEI: 549300FNENFFSMO3GT38 | Long             | DBT              | CORP              | NL        |    235000 | PA      | $242365.84    | 0.12%             | 2027-01-17      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| Petroleos Mexicanos                                                             | Petroleos Mexicanos                                                             | CUSIP: 71654QCC4<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |    468000 | PA      | $386226.92    | 0.19%             | 2047-09-21      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| CFAMC III Co., Ltd.                                                             | CFAMC III Co., Ltd.                                                             | CUSIP: AN2992815<br>LEI: 5493006V07LYI3HE6G83 | Long             | DBT              | CORP              | VG        |    300000 | PA      | $301428.44    | 0.15%             | 2027-04-27      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| OmGrid Funding Ltd.                                                             | OmGrid Funding Ltd.                                                             | CUSIP: AN4253836<br>LEI: 549300L1HIVZ83RMAP18 | Long             | DBT              | CORP              | KY        |    220000 | PA      | $221277.32    | 0.11%             | 2027-05-16      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| NOVA Chemicals Corp.                                                            | NOVA Chemicals Corp.                                                            | CUSIP: AN6971591<br>LEI: 549300ZOD6N7RI2FJP09 | Long             | DBT              | CORP              | CA        |    507000 | PA      | $509634.88    | 0.25%             | 2027-06-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Petroleos del Peru S.A. - Petroperu S.A.                                        | Petroleos del Peru S.A. - Petroperu S.A.                                        | CUSIP: AN9551200<br>LEI: 549300ZMGDLC9JT2OR80 | Long             | DBT              | CORP              | PE        |    390000 | PA      | $294754.20    | 0.15%             | 2032-06-19      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Petroleos del Peru S.A. - Petroperu S.A.                                        | Petroleos del Peru S.A. - Petroperu S.A.                                        | CUSIP: AN9553354<br>LEI: 549300ZMGDLC9JT2OR80 | Long             | DBT              | CORP              | PE        |    900000 | PA      | $604912.50    | 0.30%             | 2047-06-19      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| SoftBank Group Corp.                                                            | SoftBank Group Corp.                                                            | CUSIP: N/A<br>LEI: 5493003BZYYYCDIO0R13       | Long             | DBT              | CORP              | JP        |    590000 | PA      | $577276.83    | 0.29%             | N/A             | Variable      | 6.88%                 | No            |                  2 | On Loan: —       |
| YPF S.A.                                                                        | YPF S.A.                                                                        | CUSIP: N/A<br>LEI: 5493003N7447U18U5U53       | Long             | DBT              | CORP              | AR        |    260000 | PA      | $262815.02    | 0.13%             | 2027-07-21      | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| SoftBank Group Corp.                                                            | SoftBank Group Corp.                                                            | CUSIP: AP1047038<br>LEI: 5493003BZYYYCDIO0R13 | Long             | DBT              | CORP              | JP        |    550000 | PA      | $546326.07    | 0.27%             | 2027-09-19      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Wynn Macau, Ltd.                                                                | Wynn Macau, Ltd.                                                                | CUSIP: AP0944896<br>LEI: 254900NMDQ8ENTHU1I31 | Long             | DBT              | CORP              | KY        |    318000 | PA      | $318132.60    | 0.16%             | 2027-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Bapco Energies B.S.C Closed                                                     | Bapco Energies B.S.C Closed                                                     | CUSIP: 67778NAA6<br>LEI: 549300OBH16L6TS6IW50 | Long             | DBT              | CORP              | BH        |    570000 | PA      | $588730.91    | 0.29%             | 2027-10-25      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Mazoon Assets Co. SAOC                                                          | Mazoon Assets Co. SAOC                                                          | CUSIP: AP8171328<br>LEI: 6354003TDIRN5Y6LJP91 | Long             | DBT              | CORP              | OM        |    220000 | PA      | $221839.70    | 0.11%             | 2027-11-08      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| CFAMC III Co., Ltd.                                                             | CFAMC III Co., Ltd.                                                             | CUSIP: AP8052692<br>LEI: 5493006V07LYI3HE6G83 | Long             | DBT              | CORP              | VG        |    500000 | PA      | $498536.21    | 0.25%             | 2027-11-07      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| YPF S.A.                                                                        | YPF S.A.                                                                        | CUSIP: AQ3401082<br>LEI: 5493003N7447U18U5U53 | Long             | DBT              | CORP              | AR        |    255000 | PA      | $228170.43    | 0.11%             | 2047-12-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Longfor Group Holdings Ltd.                                                     | Longfor Group Holdings Ltd.                                                     | CUSIP: AQ6581054<br>LEI: 254900UJX27B2F1JYR13 | Long             | DBT              | CORP              | KY        |    200000 | PA      | $185734.77    | 0.09%             | 2028-01-16      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Rede D'Or Finance                                                               | Rede D'Or Finance                                                               | CUSIP: AQ7626437<br>LEI: 549300FDE772OLJUCP79 | Long             | DBT              | CORP              | LU        |    220000 | PA      | $220473.91    | 0.11%             | 2028-01-17      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| Telenet Finance Luxembourg Notes S.a.r.l.                                       | Telenet Finance Luxembourg Notes S.a.r.l.                                       | CUSIP: AQ2322883<br>LEI: 2138007RI9GLJPCC3E25 | Long             | DBT              | CORP              | LU        |    400000 | PA      | $399946.71    | 0.20%             | 2028-03-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: —       |
| Peru LNG S.r.l.                                                                 | Peru LNG S.r.l.                                                                 | CUSIP: AR7830417<br>LEI: 254900F70J1LOALV5K70 | Long             | DBT              | CORP              | PE        |    240032 | PA      | $234523.70    | 0.12%             | 2030-03-22      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Petroleos Mexicanos                                                             | Petroleos Mexicanos                                                             | CUSIP: 71654QCG5<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |    100000 | PA      | $101887.50    | 0.05%             | 2027-03-13      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Oztel Holdings SPC Ltd.                                                         | Oztel Holdings SPC Ltd.                                                         | CUSIP: AS2582649<br>LEI: 549300RABIG0RH4JYT64 | Long             | DBT              | CORP              | AE        |    310000 | PA      | $322759.22    | 0.16%             | 2028-04-24      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| Teva Pharmaceutical Finance Netherlands III B.V.                                | Teva Pharmaceutical Finance Netherlands III B.V.                                | CUSIP: 88167AAK7<br>LEI: 5493004T21MOAFINJP35 | Long             | DBT              | CORP              | NL        |    520000 | PA      | $540301.32    | 0.27%             | 2028-03-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Eskom Holdings                                                                  | Eskom Holdings                                                                  | CUSIP: AT8996486<br>LEI: 3789001900ED06F65111 | Long             | DBT              | CORP              | ZA        |    220000 | PA      | $235998.45    | 0.12%             | 2028-08-10      | Fixed         | 8.45%                 | No            |                  2 | On Loan: No      |
| Sasol Financing USA LLC                                                         | Sasol Financing USA LLC                                                         | CUSIP: 80386WAB1<br>LEI: 549300XRB1PFMESFEL85 | Long             | DBT              | CORP              | US        |    300000 | PA      | $300170.01    | 0.15%             | 2028-09-27      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Petrobras Global Finance B.V.                                                   | Petrobras Global Finance B.V.                                                   | CUSIP: 71647NAY5<br>LEI: 549300FNENFFSMO3GT38 | Long             | DBT              | CORP              | NL        |    398000 | PA      | $407514.99    | 0.20%             | 2028-01-27      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Bapco Energies B.S.C Closed                                                     | Bapco Energies B.S.C Closed                                                     | CUSIP: AV3872620<br>LEI: 549300OBH16L6TS6IW50 | Long             | DBT              | CORP              | BH        |    200000 | PA      | $214936.29    | 0.11%             | 2028-11-07      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| Petroleos Mexicanos                                                             | Petroleos Mexicanos                                                             | CUSIP: 71654QCP5<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |     80000 | PA      | $81594.00     | 0.04%             | 2029-01-23      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Petroleos Mexicanos                                                             | Petroleos Mexicanos                                                             | CUSIP: 71654QCL4<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |    120000 | PA      | $95241.02     | 0.05%             | 2048-02-12      | Fixed         | 6.35%                 | No            |                  2 | On Loan: No      |
| Petroleos Mexicanos                                                             | Petroleos Mexicanos                                                             | CUSIP: 71654QCK6<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |     50000 | PA      | $50448.35     | 0.03%             | 2028-02-12      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| Tru Taj LLC                                                                     | Tru Taj LLC                                                                     | CUSIP: 872XXLAA8<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2156 | NS      | $1079.08      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Vodafone Group PLC                                                              | Vodafone Group PLC                                                              | CUSIP: 92857WBQ2<br>LEI: 213800TB53ELEUKM7Q61 | Long             | DBT              | CORP              | GB        |    921000 | PA      | $971697.37    | 0.49%             | 2079-04-04      | Variable      | 7.00%                 | No            |                  2 | On Loan: No      |
| Klabin Austria GmbH Austria                                                     | Klabin Austria GmbH Austria                                                     | CUSIP: AX9046282<br>LEI: 984500578YEA8DD41B09 | Long             | DBT              | CORP              | AT        |    330000 | PA      | $336666.00    | 0.17%             | 2029-04-03      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Klabin Austria GmbH Austria                                                     | Klabin Austria GmbH Austria                                                     | CUSIP: AX9046290<br>LEI: 984500578YEA8DD41B09 | Long             | DBT              | CORP              | AT        |    297000 | PA      | $307705.34    | 0.15%             | 2049-04-03      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Jaguar Land Rover Automotive PLC                                                | Jaguar Land Rover Automotive PLC                                                | CUSIP: AP4190413<br>LEI: 529900L73GEWN1O5NH84 | Long             | DBT              | CORP              | GB        |    220000 | PA      | $218083.21    | 0.11%             | 2027-10-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| PREMIER BRANDS GROUP HOLDINGS LLC                                               | PREMIER BRANDS GROUP HOLDINGS LLC                                               | CUSIP: 74053A108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3222 | NS      | $6445.61      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Empresa de Transmision Electrica S.A.                                           | Empresa de Transmision Electrica S.A.                                           | CUSIP: ZS3565737<br>LEI: 254900RX1DOMC83TZ320 | Long             | DBT              | CORP              | PA        |    245000 | PA      | $190204.53    | 0.09%             | 2049-05-02      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Bombardier Inc.                                                                 | Bombardier Inc.                                                                 | CUSIP: ED4258015<br>LEI: W7L3VLU8EHQY34Z36697 | Long             | DBT              | CORP              | CA        |    209000 | PA      | $234234.66    | 0.12%             | 2034-05-01      | Fixed         | 7.45%                 | No            |                  2 | On Loan: No      |
| MGM China Holdings Ltd.                                                         | MGM China Holdings Ltd.                                                         | CUSIP: ZS4234721<br>LEI: 529900VZFN87OS7WJM66 | Long             | DBT              | CORP              | KY        |    340000 | PA      | $340274.82    | 0.17%             | 2026-05-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| CFAMC IV Co., Ltd.                                                              | CFAMC IV Co., Ltd.                                                              | CUSIP: ZS8235450<br>LEI: 549300M6T6OW4AGYHK10 | Long             | DBT              | CORP              | VG        |    200000 | PA      | $199493.13    | 0.10%             | 2029-05-29      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Delhi International Airport Ltd.                                                | Delhi International Airport Ltd.                                                | CUSIP: ZS4869633<br>LEI: 335800HBF5DARYMEUD12 | Long             | DBT              | CORP              | IN        |    220000 | PA      | $229984.80    | 0.11%             | 2029-06-04      | Fixed         | 6.45%                 | No            |                  2 | On Loan: No      |
| Rail Capital Markets PLC                                                        | Rail Capital Markets PLC                                                        | CUSIP: AZ4590826<br>LEI: 213800IW9C7PR3HKI783 | Long             | DBT              | CORP              | GB        |    236403 | PA      | $174940.67    | 0.09%             | 2026-07-09      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| Melco Resorts Finance Ltd.                                                      | Melco Resorts Finance Ltd.                                                      | CUSIP: AZ5835659<br>LEI: 5493000FQDBWKDBZEF60 | Long             | DBT              | CORP              | KY        |    270000 | PA      | $270296.74    | 0.13%             | 2027-07-17      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Empresas Publicas de Medellin ESP                                               | Empresas Publicas de Medellin ESP                                               | CUSIP: AZ6283354<br>LEI: 549300SU25TO8EMXB434 | Long             | DBT              | CORP              | CO        |    400000 | PA      | $376875.30    | 0.19%             | 2029-07-18      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Franshion Brilliant Ltd.                                                        | Franshion Brilliant Ltd.                                                        | CUSIP: AZ6756680<br>LEI: 549300E3ZP4GOU3D4G57 | Long             | DBT              | CORP              | VG        |    200000 | PA      | $185258.42    | 0.09%             | 2029-07-23      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Cosan Luxembourg S.A.                                                           | Cosan Luxembourg S.A.                                                           | CUSIP: AZ7914288<br>LEI: 222100ZY943WERK7RZ38 | Long             | DBT              | CORP              | LU        |    180000 | PA      | $182812.50    | 0.09%             | 2029-09-20      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| MV24 Capital B.V.                                                               | MV24 Capital B.V.                                                               | CUSIP: AZ9204969<br>LEI: N/A                  | Long             | DBT              | CORP              | NL        |    347015 | PA      | $351651.12    | 0.18%             | 2034-06-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Methanex Corp.                                                                  | Methanex Corp.                                                                  | CUSIP: 59151KAL2<br>LEI: 549300TSJHRXT9QXRD13 | Long             | DBT              | CORP              | CA        |    295000 | PA      | $296848.18    | 0.15%             | 2029-12-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: —       |
| Bangkok Bank PCL                                                                | Bangkok Bank PCL                                                                | CUSIP: ZR6527587<br>LEI: 549300CCL2BKJGMYXV60 | Long             | DBT              | CORP              | TH        |    540000 | PA      | $515695.86    | 0.26%             | 2034-09-25      | Variable      | 3.73%                 | No            |                  2 | On Loan: No      |
| BRF S.A.                                                                        | BRF S.A.                                                                        | CUSIP: ZR7088225<br>LEI: 254900MTXR9LUVQFU480 | Long             | DBT              | CORP              | BR        |    260000 | PA      | $252456.49    | 0.13%             | 2030-01-24      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Kasikornbank PCL                                                                | Kasikornbank PCL                                                                | CUSIP: ZR7228615<br>LEI: 5493004COSQ54937AW41 | Long             | DBT              | CORP              | TH        |    360000 | PA      | $356060.62    | 0.18%             | 2031-10-02      | Variable      | 3.34%                 | No            |                  2 | On Loan: No      |
| Telecomunicaciones Digitales, S.A.                                              | Telecomunicaciones Digitales, S.A.                                              | CUSIP: ZQ3057432<br>LEI: 5299008Q5GONPYNF9J32 | Long             | DBT              | CORP              | PA        |    220000 | PA      | $209725.59    | 0.10%             | 2030-01-30      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Melco Resorts Finance Ltd.                                                      | Melco Resorts Finance Ltd.                                                      | CUSIP: ZQ7702876<br>LEI: 5493000FQDBWKDBZEF60 | Long             | DBT              | CORP              | KY        |    490000 | PA      | $485385.65    | 0.24%             | 2029-12-04      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Wynn Macau, Ltd.                                                                | Wynn Macau, Ltd.                                                                | CUSIP: ZQ9658860<br>LEI: 254900NMDQ8ENTHU1I31 | Long             | DBT              | CORP              | KY        |    428000 | PA      | $426211.77    | 0.21%             | 2029-12-15      | Fixed         | 5.12%                 | No            |                  2 | On Loan: —       |
| Rede D'Or Finance                                                               | Rede D'Or Finance                                                               | CUSIP: ZP4862501<br>LEI: 549300FDE772OLJUCP79 | Long             | DBT              | CORP              | LU        |    360000 | PA      | $351369.89    | 0.18%             | 2030-01-22      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| CSN Inova Ventures                                                              | CSN Inova Ventures                                                              | CUSIP: ZP6635574<br>LEI: 222100R8R68DM7VM3661 | Long             | DBT              | CORP              | KY        |    580000 | PA      | $555196.18    | 0.28%             | 2028-01-28      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Grupo Aval Ltd.                                                                 | Grupo Aval Ltd.                                                                 | CUSIP: ZP7439786<br>LEI: 549300J4FW1ELLQ80113 | Long             | DBT              | CORP              | KY        |    450000 | PA      | $423429.93    | 0.21%             | 2030-02-04      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| AXIA Energia                                                                    | AXIA Energia                                                                    | CUSIP: ZP8026897<br>LEI: 254900I8KYDELP4B4Z08 | Long             | DBT              | CORP              | BR        |    350000 | PA      | $339416.98    | 0.17%             | 2030-02-04      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Invesco Government & Agency Portfolio                                           | Invesco Government & Agency Portfolio, Institutional Class                      | CUSIP: 825252885<br>LEI: 5493007T1J7WZ5QI1A47 | Long             | STIV             | RF                | US        |   4865550 | NS      | $4865550.47   | 2.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Altice Financing S.A.                                                           | Altice Financing S.A.                                                           | CUSIP: ZP3771927<br>LEI: 549300DIYGW8HVDF7Q17 | Long             | DBT              | CORP              | LU        |    510000 | PA      | $370723.03    | 0.19%             | 2028-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Ziggo B.V.                                                                      | Ziggo B.V.                                                                      | CUSIP: ZQ1853774<br>LEI: 213800TQASLF9JXH5J59 | Long             | DBT              | CORP              | NL        |    416000 | PA      | $393028.19    | 0.20%             | 2030-01-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Ecopetrol S.A.                                                                  | Ecopetrol S.A.                                                                  | CUSIP: 279158AN9<br>LEI: 254900IDGKCJICKBPA66 | Long             | DBT              | CORP              | CO        |    591000 | PA      | $597896.97    | 0.30%             | 2030-04-29      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Invesco Private Government Fund                                                 | Invesco Private Government Fund                                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             | PF                | US        |   3764279 | NS      | $3764278.93   | 1.88%             |  |  |  | No            |                  2 | On Loan: No      |
| Petrobras Global Finance B.V.                                                   | Petrobras Global Finance B.V.                                                   | CUSIP: 71647NBH1<br>LEI: 549300FNENFFSMO3GT38 | Long             | DBT              | CORP              | NL        |    277000 | PA      | $279527.07    | 0.14%             | 2031-01-03      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| UPL Corp. Ltd.                                                                  | UPL Corp. Ltd.                                                                  | CUSIP: BJ9430734<br>LEI: 213800AQLATW4WEEH674 | Long             | DBT              | CORP              | MU        |    200000 | PA      | $191165.61    | 0.10%             | 2030-06-16      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Studio City Finance Ltd.                                                        | Studio City Finance Ltd.                                                        | CUSIP: BK4197954<br>LEI: 254900D6R731QAUIG324 | Long             | DBT              | CORP              | VG        |    220000 | PA      | $220261.65    | 0.11%             | 2028-01-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Empresas Publicas de Medellin ESP                                               | Empresas Publicas de Medellin ESP                                               | CUSIP: BK4385310<br>LEI: 549300SU25TO8EMXB434 | Long             | DBT              | CORP              | CO        |    260000 | PA      | $236913.51    | 0.12%             | 2031-02-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: —       |
| Colombia Telecomunicaciones S.A. ESP                                            | Colombia Telecomunicaciones S.A. ESP                                            | CUSIP: BK4385377<br>LEI: 549300CK4YN0V1C3MN55 | Long             | DBT              | CORP              | CO        |    207000 | PA      | $193795.47    | 0.10%             | 2030-07-17      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| Invesco Private Prime Fund                                                      | Invesco Private Prime Fund                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             | PF                | US        |   9773321 | NS      | $9773321.12   | 4.88%             |  |  |  | No            |                  2 | On Loan: No      |
| Rumo Luxembourg S.a.r.l.                                                        | Rumo Luxembourg S.a.r.l.                                                        | CUSIP: BK3124298<br>LEI: 222100HOIQFT7YOSPB46 | Long             | DBT              | CORP              | LU        |    220000 | PA      | $220141.90    | 0.11%             | 2028-01-10      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Akbank Turk A.S.                                                                | Akbank Turk A.S.                                                                | CUSIP: 00971YAH3<br>LEI: 789000TUMN63Z28TJ497 | Long             | DBT              | CORP              | TR        |    200000 | PA      | $200222.86    | 0.10%             | 2026-02-06      | Fixed         | 6.80%                 | No            |                  2 | On Loan: No      |
| Melco Resorts Finance Ltd.                                                      | Melco Resorts Finance Ltd.                                                      | CUSIP: BK5234384<br>LEI: 5493000FQDBWKDBZEF60 | Long             | DBT              | CORP              | KY        |    380000 | PA      | $380303.25    | 0.19%             | 2028-07-21      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| AES Panama Generation Holdings, S.r.l.                                          | AES Panama Generation Holdings, S.r.l.                                          | CUSIP: BK8770863<br>LEI: N/A                  | Long             | DBT              | CORP              | PA        |    579709 | PA      | $546572.96    | 0.27%             | 2030-05-31      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Leviathan Bond Ltd.                                                             | Leviathan Bond Ltd.                                                             | CUSIP: BK6709046<br>LEI: 254900D9T8VKYVQNZ220 | Long             | DBT              | CORP              | IL        |    210000 | PA      | $212328.48    | 0.11%             | 2027-06-30      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Leviathan Bond Ltd.                                                             | Leviathan Bond Ltd.                                                             | CUSIP: BK6709079<br>LEI: 254900D9T8VKYVQNZ220 | Long             | DBT              | CORP              | IL        |    299000 | PA      | $307036.00    | 0.15%             | 2030-06-30      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Wynn Macau, Ltd.                                                                | Wynn Macau, Ltd.                                                                | CUSIP: N/A<br>LEI: 254900NMDQ8ENTHU1I31       | Long             | DBT              | CORP              | KY        |    570000 | PA      | $569345.51    | 0.28%             | 2028-08-26      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| BRF S.A.                                                                        | BRF S.A.                                                                        | CUSIP: N/A<br>LEI: 254900MTXR9LUVQFU480       | Long             | DBT              | CORP              | BR        |    260000 | PA      | $215572.19    | 0.11%             | 2050-09-21      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| 1011778 BC ULC / New Red Finance Inc.                                           | 1011778 BC ULC / New Red Finance Inc.                                           | CUSIP: N/A<br>LEI: N/A                        | Long             | DBT              | CORP              | CA        |   1262000 | PA      | $1204845.67   | 0.60%             | 2030-10-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Methanex Corp.                                                                  | Methanex Corp.                                                                  | CUSIP: 59151KAM0<br>LEI: 549300TSJHRXT9QXRD13 | Long             | DBT              | CORP              | CA        |    305000 | PA      | $306013.82    | 0.15%             | 2027-10-15      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Hudbay Minerals Inc.                                                            | Hudbay Minerals Inc.                                                            | CUSIP: N/A<br>LEI: 894500LX3TMESP27BE29       | Long             | DBT              | CORP              | CA        |    232000 | PA      | $234307.47    | 0.12%             | 2029-04-01      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| Petroleos Mexicanos                                                             | Petroleos Mexicanos                                                             | CUSIP: 71654QDE9<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |    310000 | PA      | $302614.56    | 0.15%             | 2031-01-28      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| Petroleos Mexicanos                                                             | Petroleos Mexicanos                                                             | CUSIP: 71654QDD1<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |    790000 | PA      | $711277.13    | 0.36%             | 2050-01-23      | Fixed         | 7.69%                 | No            |                  2 | On Loan: No      |
| Petroleos Mexicanos                                                             | Petroleos Mexicanos                                                             | CUSIP: 71654QDF6<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |    330000 | PA      | $268994.55    | 0.13%             | 2060-01-28      | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| Petroleos Mexicanos                                                             | Petroleos Mexicanos                                                             | CUSIP: 71654QDC3<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |    260000 | PA      | $266853.08    | 0.13%             | 2030-01-23      | Fixed         | 6.84%                 | No            |                  2 | On Loan: No      |
| Periama Holdings, LLC                                                           | Periama Holdings, LLC                                                           | CUSIP: N/A<br>LEI: 254900NINXO00BLT2Z47       | Long             | DBT              | CORP              | US        |    340000 | PA      | $341093.87    | 0.17%             | 2026-04-19      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| EnfraGen Energia Sur S.A. / EnfraGen Spain S.A. / Prime Energia S.p.A.          | EnfraGen Energia Sur S.A. / EnfraGen Spain S.A. / Prime Energia S.p.A.          | CUSIP: BN0026623<br>LEI: 2549002TO75PYMY3VY07 | Long             | DBT              | CORP              | ES        |    295000 | PA      | $275434.05    | 0.14%             | 2030-12-30      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Jaguar Land Rover Automotive PLC                                                | Jaguar Land Rover Automotive PLC                                                | CUSIP: BM9768300<br>LEI: 529900L73GEWN1O5NH84 | Long             | DBT              | CORP              | GB        |    220000 | PA      | $220152.64    | 0.11%             | 2028-01-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| MARB Bondco PLC                                                                 | MARB Bondco PLC                                                                 | CUSIP: BN5536097<br>LEI: 254900PVA1EU6QM1JN57 | Long             | DBT              | CORP              | GB        |    505000 | PA      | $457507.83    | 0.23%             | 2031-01-29      | Fixed         | 3.95%                 | No            |                  2 | On Loan: —       |
| Fortune Star (BVI) Ltd.                                                         | Fortune Star (BVI) Ltd.                                                         | CUSIP: BN6409815<br>LEI: 2549008CU8NYQQRSNU62 | Long             | DBT              | CORP              | VG        |    220000 | PA      | $216250.56    | 0.11%             | 2027-01-27      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| Champion Path Holdings Ltd.                                                     | Champion Path Holdings Ltd.                                                     | CUSIP: BN6409666<br>LEI: 549300QWJFPV5413KI88 | Long             | DBT              | CORP              | VG        |    220000 | PA      | $214201.16    | 0.11%             | 2028-01-27      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| TC Ziraat Bankasi AS                                                            | TC Ziraat Bankasi AS                                                            | CUSIP: BN7440199<br>LEI: 213800K5KTZFSUS8MR51 | Long             | DBT              | CORP              | TR        |    270000 | PA      | $270292.07    | 0.13%             | 2026-03-02      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Oryx Funding Ltd.                                                               | Oryx Funding Ltd.                                                               | CUSIP: BN7877457<br>LEI: 549300S728CF0BBRC295 | Long             | DBT              | CORP              | KY        |    270000 | PA      | $278175.60    | 0.14%             | 2031-02-03      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| Klabin Austria GmbH Austria                                                     | Klabin Austria GmbH Austria                                                     | CUSIP: BN3697396<br>LEI: 984500578YEA8DD41B09 | Long             | DBT              | CORP              | AT        |    200000 | PA      | $181618.78    | 0.09%             | 2031-01-12      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| Studio City Finance Ltd.                                                        | Studio City Finance Ltd.                                                        | CUSIP: BN3023114<br>LEI: 254900D6R731QAUIG324 | Long             | DBT              | CORP              | VG        |    483000 | PA      | $468350.75    | 0.23%             | 2029-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Amaggi Luxembourg International S.a.r.l.                                        | Amaggi Luxembourg International S.a.r.l.                                        | CUSIP: BN6930604<br>LEI: N/A                  | Long             | DBT              | CORP              | LU        |    360000 | PA      | $358313.31    | 0.18%             | 2028-01-28      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Simpar Europe S.A.                                                              | Simpar Europe S.A.                                                              | CUSIP: BN5372345<br>LEI: 54930068BSUST41D5C30 | Long             | DBT              | CORP              | LU        |    230000 | PA      | $191187.50    | 0.10%             | 2031-01-26      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| Franshion Brilliant Ltd.                                                        | Franshion Brilliant Ltd.                                                        | CUSIP: BN7900887<br>LEI: 549300E3ZP4GOU3D4G57 | Long             | DBT              | CORP              | VG        |    220000 | PA      | $219929.60    | 0.11%             | N/A             | Variable      | 6.00%                 | No            |                  2 | On Loan: No      |
| Liquid Telecommunications Financing PLC                                         | Liquid Telecommunications Financing PLC                                         | CUSIP: N/A<br>LEI: 635400MXAVJRJJCWVI87       | Long             | DBT              | CORP              | GB        |    280000 | PA      | $268273.70    | 0.13%             | 2026-09-04      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| YPF S.A.                                                                        | YPF S.A.                                                                        | CUSIP: N/A<br>LEI: 5493003N7447U18U5U53       | Long             | DBT              | CORP              | AR        |    285942 | PA      | $297135.95    | 0.15%             | 2029-06-30      | Variable      | 9.00%                 | No            |                  2 | On Loan: No      |
| YPF S.A.                                                                        | YPF S.A.                                                                        | CUSIP: N/A<br>LEI: 5493003N7447U18U5U53       | Long             | DBT              | CORP              | AR        |    230000 | PA      | $226130.95    | 0.11%             | 2033-09-30      | Variable      | 7.00%                 | No            |                  2 | On Loan: No      |
| Minerva Luxembourg S.A.                                                         | Minerva Luxembourg S.A.                                                         | CUSIP: N/A<br>LEI: 222100NM3G3RCPGZ2Z17       | Long             | DBT              | CORP              | LU        |    438000 | PA      | $408535.35    | 0.20%             | 2031-03-18      | Fixed         | 4.38%                 | No            |                  2 | On Loan: —       |
| Energean Israel Finance Ltd.                                                    | Energean Israel Finance Ltd.                                                    | CUSIP: N/A<br>LEI: 98450044QACBL3F8EB03       | Long             | DBT              | CORP              | IL        |    220000 | PA      | $217951.36    | 0.11%             | 2028-03-30      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Energean Israel Finance Ltd.                                                    | Energean Israel Finance Ltd.                                                    | CUSIP: N/A<br>LEI: 98450044QACBL3F8EB03       | Long             | DBT              | CORP              | IL        |    320000 | PA      | $311254.10    | 0.16%             | 2031-03-30      | Fixed         | 5.88%                 | No            |                  2 | On Loan: —       |
| Sasol Financing USA LLC                                                         | Sasol Financing USA LLC                                                         | CUSIP: 80386WAC9<br>LEI: 549300XRB1PFMESFEL85 | Long             | DBT              | CORP              | US        |    190000 | PA      | $188866.02    | 0.09%             | 2026-09-18      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Sasol Financing USA LLC                                                         | Sasol Financing USA LLC                                                         | CUSIP: 80386WAD7<br>LEI: 549300XRB1PFMESFEL85 | Long             | DBT              | CORP              | US        |    337000 | PA      | $297498.75    | 0.15%             | 2031-03-18      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FMG Resources (August 2006) Pty Ltd.                                            | FMG Resources (August 2006) Pty Ltd.                                            | CUSIP: ZR4868215<br>LEI: 549300EFD6S2NFE9D745 | Long             | DBT              | CORP              | AU        |    232000 | PA      | $232189.99    | 0.12%             | 2027-09-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| MGM China Holdings Ltd.                                                         | MGM China Holdings Ltd.                                                         | CUSIP: N/A<br>LEI: 529900VZFN87OS7WJM66       | Long             | DBT              | CORP              | KY        |    340000 | PA      | $338779.54    | 0.17%             | 2027-02-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Playtika Holding Corp.                                                          | Playtika Holding Corp.                                                          | CUSIP: N/A<br>LEI: 254900E35Z4TKA4UFG64       | Long             | DBT              | CORP              | US        |    231000 | PA      | $200819.85    | 0.10%             | 2029-03-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Investment Energy Resources Ltd.                                                | Investment Energy Resources Ltd.                                                | CUSIP: BP1279812<br>LEI: 254900A71Y7WHN7L5K89 | Long             | DBT              | CORP              | BM        |    290000 | PA      | $292144.26    | 0.15%             | 2029-04-26      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Rakuten Group, Inc.                                                             | Rakuten Group, Inc.                                                             | CUSIP: BP1064305<br>LEI: 529900IMXUCQKUL1H943 | Long             | DBT              | CORP              | JP        |    320000 | PA      | $319802.45    | 0.16%             | N/A             | Variable      | 5.12%                 | No            |                  2 | On Loan: No      |
| OQ SAOC                                                                         | OQ SAOC                                                                         | CUSIP: BP2701194<br>LEI: 549300YK417GKI6EQ392 | Long             | DBT              | CORP              | OM        |    140000 | PA      | $141156.86    | 0.07%             | 2028-05-06      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| ReNew Wind Energy AP2 / ReNew Power Pvt Ltd. other 9 Subsidiaries               | ReNew Wind Energy AP2 / ReNew Power Pvt Ltd. other 9 Subsidiaries               | CUSIP: N/A<br>LEI: 335800BITJZHVZ1CN475       | Long             | DBT              | CORP              | IN        |    260000 | PA      | $251381.90    | 0.13%             | 2028-07-14      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Bapco Energies Sukuk Ltd.                                                       | Bapco Energies Sukuk Ltd.                                                       | CUSIP: N/A<br>LEI: 54930062R6OFRHBRAI29       | Long             | DBT              | CORP              | KY        |    200000 | PA      | $198734.94    | 0.10%             | 2029-04-08      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Tullow Oil PLC                                                                  | Tullow Oil PLC                                                                  | CUSIP: BP3231159<br>LEI: 2138003EYHWO75RKS857 | Long             | DBT              | CORP              | GB        |    550000 | PA      | $426250.00    | 0.21%             | 2026-05-15      | Fixed         | 10.25%                | No            |                  2 | On Loan: No      |
| Rakuten Group, Inc.                                                             | Rakuten Group, Inc.                                                             | CUSIP: BP1066276<br>LEI: 529900IMXUCQKUL1H943 | Long             | DBT              | CORP              | JP        |    430000 | PA      | $416128.67    | 0.21%             | N/A             | Variable      | 6.25%                 | No            |                  2 | On Loan: No      |
| Petrobras Global Finance B.V.                                                   | Petrobras Global Finance B.V.                                                   | CUSIP: 71645WAQ4<br>LEI: 549300FNENFFSMO3GT38 | Long             | DBT              | CORP              | NL        |    268000 | PA      | $272936.17    | 0.14%             | 2040-01-20      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Guitar Center Holdings, Inc.                                                    | Guitar Center Holdings, Inc., Pfd.                                              | CUSIP: 402040711<br>LEI: N/A                  | Long             | EP               | CORP              | US        |      2000 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| AI Candelaria -spain- S.A.                                                      | AI Candelaria -spain- S.A.                                                      | CUSIP: BP4790179<br>LEI: 213800L5KA2MJ5FKRZ02 | Long             | DBT              | CORP              | ES        |    295000 | PA      | $263878.98    | 0.13%             | 2033-06-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Pakistan Water & Power Development Authority                                    | Pakistan Water & Power Development Authority                                    | CUSIP: BP8111539<br>LEI: 213800UA74QOTK6IES10 | Long             | DBT              | NUSS              | PK        |    235000 | PA      | $230233.48    | 0.11%             | 2031-06-04      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Vodafone Group PLC                                                              | Vodafone Group PLC                                                              | CUSIP: 92857WBW9<br>LEI: 213800TB53ELEUKM7Q61 | Long             | DBT              | CORP              | GB        |    500000 | PA      | $470718.30    | 0.24%             | 2081-06-04      | Variable      | 4.12%                 | No            |                  2 | On Loan: No      |
| Vodafone Group PLC                                                              | Vodafone Group PLC                                                              | CUSIP: 92857WBX7<br>LEI: 213800TB53ELEUKM7Q61 | Long             | DBT              | CORP              | GB        |    413000 | PA      | $328064.07    | 0.16%             | 2081-06-04      | Variable      | 5.12%                 | No            |                  2 | On Loan: No      |
| Petrobras Global Finance B.V.                                                   | Petrobras Global Finance B.V.                                                   | CUSIP: 71647NBJ7<br>LEI: 549300FNENFFSMO3GT38 | Long             | DBT              | CORP              | NL        |    211000 | PA      | $175361.19    | 0.09%             | 2051-06-10      | Fixed         | 5.50%                 | No            |                  2 | On Loan: —       |
| Georgian Railway JSC                                                            | Georgian Railway JSC                                                            | CUSIP: BQ0158239<br>LEI: 2138005UZV4ZT2B2ZO19 | Long             | DBT              | CORP              | GE        |    220000 | PA      | $210555.40    | 0.11%             | 2028-06-17      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| OCP S.A.                                                                        | OCP S.A.                                                                        | CUSIP: BQ0169574<br>LEI: 213800D26TAPVTCVWG40 | Long             | DBT              | CORP              | MA        |    340000 | PA      | $317049.49    | 0.16%             | 2031-06-23      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| OCP S.A.                                                                        | OCP S.A.                                                                        | CUSIP: BQ0169731<br>LEI: 213800D26TAPVTCVWG40 | Long             | DBT              | CORP              | MA        |    340000 | PA      | $276227.73    | 0.14%             | 2051-06-23      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Akbank Turk A.S.                                                                | Akbank Turk A.S.                                                                | CUSIP: BQ0867789<br>LEI: 789000TUMN63Z28TJ497 | Long             | DBT              | CORP              | TR        |    240000 | PA      | $240802.56    | 0.12%             | 2031-06-22      | Variable      | 6.80%                 | No            |                  2 | On Loan: No      |
| Anadolu Efes Biracilik ve Malt Sanayii A.S.                                     | Anadolu Efes Biracilik ve Malt Sanayii A.S.                                     | CUSIP: BQ1792028<br>LEI: 7890006LGARYVIPOJX03 | Long             | DBT              | CORP              | TR        |    220000 | PA      | $206703.47    | 0.10%             | 2028-06-29      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| Nemak, S.A.B. de C.V.                                                           | Nemak, S.A.B. de C.V.                                                           | CUSIP: BQ2270008<br>LEI: 5493000MY3DAIB0BP706 | Long             | DBT              | CORP              | MX        |    220000 | PA      | $191672.07    | 0.10%             | 2031-06-28      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| Turkiye Ihracat Kredi Bankasi A.S.                                              | Turkiye Ihracat Kredi Bankasi A.S.                                              | CUSIP: BQ2220128<br>LEI: 789000JVRVYLAXGDWR11 | Long             | DBT              | NUSS              | TR        |    340000 | PA      | $342485.56    | 0.17%             | 2026-07-06      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| SoftBank Group Corp.                                                            | SoftBank Group Corp.                                                            | CUSIP: BQ3265320<br>LEI: 5493003BZYYYCDIO0R13 | Long             | DBT              | CORP              | JP        |    360000 | PA      | $352474.74    | 0.18%             | 2028-07-06      | Fixed         | 4.62%                 | No            |                  2 | On Loan: —       |
| CSN Resources S.A.                                                              | CSN Resources S.A.                                                              | CUSIP: BP9085443<br>LEI: 222100ZEX458NMOXZP08 | Long             | DBT              | CORP              | LU        |    380000 | PA      | $298552.09    | 0.15%             | 2031-06-10      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| CEMEX S.A.B. de C.V.                                                            | CEMEX S.A.B. de C.V.                                                            | CUSIP: BP9277479<br>LEI: 549300RIG2CXWN6IV731 | Long             | DBT              | CORP              | MX        |    450000 | PA      | $449549.10    | 0.22%             | N/A             | Variable      | 5.12%                 | No            |                  2 | On Loan: No      |
| SoftBank Group Corp.                                                            | SoftBank Group Corp.                                                            | CUSIP: BQ3265312<br>LEI: 5493003BZYYYCDIO0R13 | Long             | DBT              | CORP              | JP        |    300000 | PA      | $298247.29    | 0.15%             | 2026-07-06      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SoftBank Group Corp.                                                            | SoftBank Group Corp.                                                            | CUSIP: BQ3265338<br>LEI: 5493003BZYYYCDIO0R13 | Long             | DBT              | CORP              | JP        |    410000 | PA      | $395451.16    | 0.20%             | 2031-07-06      | Fixed         | 5.25%                 | No            |                  2 | On Loan: —       |
| Mercer International Inc.                                                       | Mercer International Inc.                                                       | CUSIP: 588056BB6<br>LEI: 549300Z5IAG39VRTY874 | Long             | DBT              | CORP              | US        |    339000 | PA      | $209767.54    | 0.10%             | 2029-02-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| MC Brazil Downstream Trading S.a.r.l.                                           | MC Brazil Downstream Trading S.a.r.l.                                           | CUSIP: BQ5328001<br>LEI: 213800T2A7R9TYNXZI63 | Long             | DBT              | CORP              | LU        |    714061 | PA      | $635114.29    | 0.32%             | 2031-06-30      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| Seaspan Corp.                                                                   | Seaspan Corp.                                                                   | CUSIP: BQ4175213<br>LEI: 5493007Z8Q1H45KT7W98 | Long             | DBT              | CORP              | MH        |    287000 | PA      | $273214.51    | 0.14%             | 2029-08-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| China CITIC Bank International Ltd.                                             | China CITIC Bank International Ltd.                                             | CUSIP: BQ6456355<br>LEI: 54930034UPFJV0NHXV95 | Long             | DBT              | CORP              | HK        |    270000 | PA      | $269203.66    | 0.13%             | N/A             | Variable      | 3.25%                 | No            |                  2 | On Loan: No      |
| Petroleos Mexicanos                                                             | Petroleos Mexicanos                                                             | CUSIP: 706451BG5<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |    245000 | PA      | $233594.98    | 0.12%             | 2035-06-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| VMED 02 UK Financing I PLC                                                      | VMED 02 UK Financing I PLC                                                      | CUSIP: BQ1812875<br>LEI: 213800MRR46ECNGZ7L69 | Long             | DBT              | CORP              | GB        |    580000 | PA      | $530408.55    | 0.26%             | 2031-07-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Altice Financing S.A.                                                           | Altice Financing S.A.                                                           | CUSIP: BQ8379779<br>LEI: 549300DIYGW8HVDF7Q17 | Long             | DBT              | CORP              | LU        |    820000 | PA      | $590747.68    | 0.29%             | 2029-08-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Nissan Motor Co., Ltd.                                                          | Nissan Motor Co., Ltd.                                                          | CUSIP: N/A<br>LEI: 353800DRBDH1LUTNAY26       | Long             | DBT              | CORP              | JP        |   1070000 | PA      | $1059311.68   | 0.53%             | 2027-09-17      | Fixed         | 4.34%                 | No            |                  2 | On Loan: No      |
| Nissan Motor Co., Ltd.                                                          | Nissan Motor Co., Ltd.                                                          | CUSIP: N/A<br>LEI: 353800DRBDH1LUTNAY26       | Long             | DBT              | CORP              | JP        |   1070000 | PA      | $1011091.09   | 0.50%             | 2030-09-17      | Fixed         | 4.81%                 | No            |                  2 | On Loan: —       |
| Telecom Italia Capital S.A.                                                     | Telecom Italia Capital S.A.                                                     | CUSIP: 87927VAR9<br>LEI: 549300777DJZOR5C4L39 | Long             | DBT              | CORP              | LU        |    236000 | PA      | $256093.75    | 0.13%             | 2036-07-18      | Fixed         | 7.20%                 | No            |                  2 | On Loan: —       |
| Eldorado Gold Corp.                                                             | Eldorado Gold Corp.                                                             | CUSIP: BQ9582850<br>LEI: 5493004PWQ01YDD1IH62 | Long             | DBT              | CORP              | CA        |    195000 | PA      | $196132.56    | 0.10%             | 2029-09-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Turkiye Vakiflar Bankasi T.A.O.                                                 | Turkiye Vakiflar Bankasi T.A.O.                                                 | CUSIP: BR3780771<br>LEI: 789000KAIHOLSQKQ9858 | Long             | DBT              | CORP              | TR        |    235000 | PA      | $236996.76    | 0.12%             | 2026-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Banco do Brasil S.A.                                                            | Banco do Brasil S.A.                                                            | CUSIP: BR4230529<br>LEI: QE0Q0253K88YAGNPE356 | Long             | DBT              | CORP              | BR        |    460000 | PA      | $457209.27    | 0.23%             | 2026-09-30      | Fixed         | 3.25%                 | No            |                  2 | On Loan: —       |
| Access Bank PLC                                                                 | Access Bank PLC                                                                 | CUSIP: BR4466594<br>LEI: 029200328C3N9YI2D660 | Long             | DBT              | CORP              | NG        |    229000 | PA      | $228443.22    | 0.11%             | 2026-09-21      | Fixed         | 6.12%                 | No            |                  2 | On Loan: —       |
| B3 S.A. - Brasil, Bolsa, Balcao                                                 | B3 S.A. - Brasil, Bolsa, Balcao                                                 | CUSIP: BR4699608<br>LEI: 4GTK5S46E6H318LMDS44 | Long             | DBT              | CORP              | BR        |    260000 | PA      | $246720.50    | 0.12%             | 2031-09-20      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| JSW Steel Ltd.                                                                  | JSW Steel Ltd.                                                                  | CUSIP: BR4616925<br>LEI: 335800EK6HZSC4CVAJ09 | Long             | DBT              | CORP              | IN        |    206000 | PA      | $204575.23    | 0.10%             | 2027-04-05      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| Industrial and Commercial Bank of China Ltd.                                    | Industrial and Commercial Bank of China Ltd.                                    | CUSIP: BR4365523<br>LEI: 5493002ERZU2K9PZDL40 | Long             | DBT              | CORP              | CN        |   2682000 | PA      | $2665826.25   | 1.33%             | N/A             | Variable      | 3.20%                 | No            |                  2 | On Loan: No      |
| JSW Steel Ltd.                                                                  | JSW Steel Ltd.                                                                  | CUSIP: BR4616958<br>LEI: 335800EK6HZSC4CVAJ09 | Long             | DBT              | CORP              | IN        |    220000 | PA      | $219751.25    | 0.11%             | 2032-04-05      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| Rumo Luxembourg S.a.r.l.                                                        | Rumo Luxembourg S.a.r.l.                                                        | CUSIP: BR4709845<br>LEI: 222100HOIQFT7YOSPB46 | Long             | DBT              | CORP              | LU        |    200000 | PA      | $184815.00    | 0.09%             | 2032-01-18      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| Falabella S.A.                                                                  | Falabella S.A.                                                                  | CUSIP: BR9290262<br>LEI: 5493004CKJQ7H391LM41 | Long             | DBT              | CORP              | CL        |    290000 | PA      | $261614.80    | 0.13%             | 2032-01-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| Minsur S.A.                                                                     | Minsur S.A.                                                                     | CUSIP: BS1363347<br>LEI: 254900C69MVC7SXO2G61 | Long             | DBT              | CORP              | PE        |    200000 | PA      | $192339.46    | 0.10%             | 2031-10-28      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Ecopetrol S.A.                                                                  | Ecopetrol S.A.                                                                  | CUSIP: 279158AP4<br>LEI: 254900IDGKCJICKBPA66 | Long             | DBT              | CORP              | CO        |    410000 | PA      | $368689.02    | 0.18%             | 2031-11-02      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Air Canada                                                                      | Air Canada                                                                      | CUSIP: BQ7237127<br>LEI: 4B4HI3CGXMBDC0G6BM51 | Long             | DBT              | CORP              | CA        |    563000 | PA      | $561191.53    | 0.28%             | 2026-08-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Canpack S.A. / Canpack US LLC                                                   | Canpack S.A. / Canpack US LLC                                                   | CUSIP: BR7805434<br>LEI: 259400TS8W5E4ILGVP08 | Long             | DBT              | CORP              | PL        |    400000 | PA      | $382827.24    | 0.19%             | 2029-11-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Ecopetrol S.A.                                                                  | Ecopetrol S.A.                                                                  | CUSIP: 279158AQ2<br>LEI: 254900IDGKCJICKBPA66 | Long             | DBT              | CORP              | CO        |    230000 | PA      | $166210.42    | 0.08%             | 2051-11-02      | Fixed         | 5.88%                 | No            |                  2 | On Loan: —       |
| Teva Pharmaceutical Finance Netherlands III B.V.                                | Teva Pharmaceutical Finance Netherlands III B.V.                                | CUSIP: 88167AAQ4<br>LEI: 5493004T21MOAFINJP35 | Long             | DBT              | CORP              | NL        |    420000 | PA      | $424263.42    | 0.21%             | 2029-05-09      | Fixed         | 5.12%                 | No            |                  2 | On Loan: —       |
| VMED 02 UK Financing I PLC                                                      | VMED 02 UK Financing I PLC                                                      | CUSIP: N/A<br>LEI: 213800MRR46ECNGZ7L69       | Long             | DBT              | CORP              | GB        |    561000 | PA      | $507946.88    | 0.25%             | 2031-01-31      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Stillwater Mining Co. Inc.                                                      | Stillwater Mining Co. Inc.                                                      | CUSIP: BS3794192<br>LEI: 6354007DPCY4ZN2MRR73 | Long             | DBT              | CORP              | US        |    227000 | PA      | $218635.92    | 0.11%             | 2029-11-16      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| JSC Uzbekneftegaz                                                               | JSC Uzbekneftegaz                                                               | CUSIP: BS3801047<br>LEI: 213800LUZJZFLJD4MJ51 | Long             | DBT              | CORP              | UZ        |    310000 | PA      | $302175.05    | 0.15%             | 2028-11-16      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Telefonica Moviles Chile S.A.                                                   | Telefonica Moviles Chile S.A.                                                   | CUSIP: BS4149834<br>LEI: 549300PDWJ2U6A15B785 | Long             | DBT              | CORP              | CL        |    280000 | PA      | $199991.87    | 0.10%             | 2031-11-18      | Fixed         | 3.54%                 | No            |                  2 | On Loan: No      |
| Stillwater Mining Co. Inc.                                                      | Stillwater Mining Co. Inc.                                                      | CUSIP: BS3794168<br>LEI: 6354007DPCY4ZN2MRR73 | Long             | DBT              | CORP              | US        |    260000 | PA      | $258904.70    | 0.13%             | 2026-11-16      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| IHS Holding Ltd.                                                                | IHS Holding Ltd.                                                                | CUSIP: BS5471211<br>LEI: 213800CLGMKL63VKTD94 | Long             | DBT              | CORP              | KY        |    420000 | PA      | $418615.85    | 0.21%             | 2028-11-29      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Teva Pharmaceutical Finance Netherlands III B.V.                                | Teva Pharmaceutical Finance Netherlands III B.V.                                | CUSIP: 88167AAP6<br>LEI: 5493004T21MOAFINJP35 | Long             | DBT              | CORP              | NL        |    285000 | PA      | $285217.60    | 0.14%             | 2027-05-09      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| British Telecommunications PLC                                                  | British Telecommunications PLC                                                  | CUSIP: BS4990492<br>LEI: 549300OWFMSO9NYV4H90 | Long             | DBT              | CORP              | GB        |    240000 | PA      | $239096.93    | 0.12%             | 2081-11-23      | Variable      | 4.25%                 | No            |                  2 | On Loan: No      |
| Greenko Power II Ltd.                                                           | Greenko Power II Ltd.                                                           | CUSIP: BS8934280<br>LEI: 254900YYA4B6O2O4JM12 | Long             | DBT              | CORP              | MU        |    304000 | PA      | $291441.43    | 0.15%             | 2028-12-13      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| Algonquin Power & Utilities Corp.                                               | Algonquin Power & Utilities Corp.                                               | CUSIP: 015857AH8<br>LEI: 549300K5VIUTJXQL7X75 | Long             | DBT              | CORP              | CA        |    292000 | PA      | $290064.45    | 0.14%             | 2082-01-18      | Variable      | 4.75%                 | No            |                  2 | On Loan: —       |
| Central American Bottling Corp. / CBC Bottling Holdco SL / Beliv Holdco SL      | Central American Bottling Corp. / CBC Bottling Holdco SL / Beliv Holdco SL      | CUSIP: BT6737410<br>LEI: 549300DT8SH0CF6BTT37 | Long             | DBT              | CORP              | VG        |    459000 | PA      | $456931.01    | 0.23%             | 2029-04-27      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CT Trust                                                                        | CT Trust                                                                        | CUSIP: BT8491875<br>LEI: 213800MJB7WO427HQD34 | Long             | DBT              | CORP              | GT        |    300000 | PA      | $286347.70    | 0.14%             | 2032-02-03      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Banco Bradesco S.A.                                                             | Banco Bradesco S.A.                                                             | CUSIP: 05947LBA5<br>LEI: 549300CTUU1RFXHQJE44 | Long             | DBT              | CORP              | KY        |    220000 | PA      | $220204.16    | 0.11%             | 2027-03-18      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Acu Petroleo Luxembourg S.a.r.l.                                                | Acu Petroleo Luxembourg S.a.r.l.                                                | CUSIP: BT4410523<br>LEI: N/A                  | Long             | DBT              | CORP              | LU        |    217058 | PA      | $223706.14    | 0.11%             | 2032-01-13      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Agrosuper S.A.                                                                  | Agrosuper S.A.                                                                  | CUSIP: BT5013623<br>LEI: 5493006KNWOGYPTZZ371 | Long             | DBT              | CORP              | CL        |    220000 | PA      | $211285.80    | 0.11%             | 2032-01-20      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| Banco do Brasil S.A.                                                            | Banco do Brasil S.A.                                                            | CUSIP: BT3700478<br>LEI: QE0Q0253K88YAGNPE356 | Long             | DBT              | CORP              | BR        |    220000 | PA      | $219478.72    | 0.11%             | 2029-01-11      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| CSN Resources S.A.                                                              | CSN Resources S.A.                                                              | CUSIP: BU2177212<br>LEI: 222100ZEX458NMOXZP08 | Long             | DBT              | CORP              | LU        |    220000 | PA      | $178894.10    | 0.09%             | 2032-04-08      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Hornbeck Offshore Services, Inc.                                                | Hornbeck Offshore Services, Inc.                                                | CUSIP: 440543A97<br>LEI: 549300PK6DVV6PLLNJ85 | Long             | EC               | CORP              | US        |       323 | NS      | $16634.50     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                                             | Hornbeck Offshore Services, Inc., Wrts. 2049-12-31                              | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | N/A       |      2673 | NS      | $47445.57     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                                             | Hornbeck Offshore Services, Inc., Wrts. 2049-12-31                              | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | N/A       |      3246 | NS      | $167169.00    | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| VistaJet Malta Finance PLC / Vista Management Holding Inc.                      | VistaJet Malta Finance PLC / Vista Management Holding Inc.                      | CUSIP: BT6367630<br>LEI: 5299001UK94VGT0CPQ36 | Long             | DBT              | CORP              | MT        |    430000 | PA      | $408337.41    | 0.20%             | 2030-02-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Petroleos Mexicanos                                                             | Petroleos Mexicanos                                                             | CUSIP: 71643VAB1<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |    610000 | PA      | $609396.34    | 0.30%             | 2032-02-16      | Fixed         | 6.70%                 | No            |                  2 | On Loan: No      |
| China CITIC Bank International Ltd.                                             | China CITIC Bank International Ltd.                                             | CUSIP: BV8969263<br>LEI: 54930034UPFJV0NHXV95 | Long             | DBT              | CORP              | HK        |    270000 | PA      | $272303.76    | 0.14%             | N/A             | Variable      | 4.80%                 | No            |                  2 | On Loan: No      |
| Nanyang Commercial Bank, Ltd.                                                   | Nanyang Commercial Bank, Ltd.                                                   | CUSIP: BW0397792<br>LEI: SC4P6WZO702RYEIU7J93 | Long             | DBT              | CORP              | HK        |    290000 | PA      | $297485.94    | 0.15%             | N/A             | Variable      | 6.50%                 | No            |                  2 | On Loan: No      |
| Heritage Petroleum Co. Ltd.                                                     | Heritage Petroleum Co. Ltd.                                                     | CUSIP: BW3729926<br>LEI: 25490055MYPABN06OA04 | Long             | DBT              | CORP              | TT        |    220000 | PA      | $226347.00    | 0.11%             | 2029-08-12      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| VistaJet Malta Finance PLC / Vista Management Holding Inc.                      | VistaJet Malta Finance PLC / Vista Management Holding Inc.                      | CUSIP: BW0228807<br>LEI: 5299001UK94VGT0CPQ36 | Long             | DBT              | CORP              | MT        |    195000 | PA      | $195432.12    | 0.10%             | 2027-05-01      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| 1011778 BC ULC / New Red Finance Inc.                                           | 1011778 BC ULC / New Red Finance Inc.                                           | CUSIP: ZR5076099<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |    703000 | PA      | $692909.49    | 0.35%             | 2028-01-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Petroleos Mexicanos                                                             | Petroleos Mexicanos                                                             | CUSIP: 71654QDL3<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |    225000 | PA      | $241724.48    | 0.12%             | 2029-06-02      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| Ecopetrol S.A.                                                                  | Ecopetrol S.A.                                                                  | CUSIP: 279158AS8<br>LEI: 254900IDGKCJICKBPA66 | Long             | DBT              | CORP              | CO        |    660000 | PA      | $709824.06    | 0.35%             | 2033-01-13      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| TC Ziraat Bankasi AS                                                            | TC Ziraat Bankasi AS                                                            | CUSIP: ZM6550119<br>LEI: 213800K5KTZFSUS8MR51 | Long             | DBT              | CORP              | TR        |    220000 | PA      | $226119.15    | 0.11%             | 2026-08-01      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| Transnet                                                                        | Transnet                                                                        | CUSIP: ZM6863207<br>LEI: 378900B07CD6F01EA796 | Long             | DBT              | CORP              | ZA        |    450000 | PA      | $475078.39    | 0.24%             | 2028-02-06      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| OTP Bank Nyrt.                                                                  | OTP Bank Nyrt.                                                                  | CUSIP: ZM8879722<br>LEI: 529900W3MOO00A18X956 | Long             | DBT              | CORP              | HU        |    240000 | PA      | $256126.85    | 0.13%             | 2033-05-15      | Variable      | 8.75%                 | No            |                  2 | On Loan: No      |
| Teva Pharmaceutical Finance Netherlands III B.V.                                | Teva Pharmaceutical Finance Netherlands III B.V.                                | CUSIP: 88167AAR2<br>LEI: 5493004T21MOAFINJP35 | Long             | DBT              | CORP              | NL        |    188000 | PA      | $215898.07    | 0.11%             | 2031-09-15      | Fixed         | 8.12%                 | No            |                  2 | On Loan: No      |
| Diamond II Ltd.                                                                 | Diamond II Ltd.                                                                 | CUSIP: ZK2172961<br>LEI: 254900KL4GQ2XC50XL44 | Long             | DBT              | CORP              | MU        |    200000 | PA      | $200163.39    | 0.10%             | 2026-07-28      | Fixed         | 7.95%                 | No            |                  2 | On Loan: No      |
| Sasol Financing USA LLC                                                         | Sasol Financing USA LLC                                                         | CUSIP: ZK3493416<br>LEI: 549300XRB1PFMESFEL85 | Long             | DBT              | CORP              | US        |    500000 | PA      | $513925.00    | 0.26%             | 2029-05-03      | Fixed         | 8.75%                 | No            |                  2 | On Loan: —       |
| Banco do Brasil S.A.                                                            | Banco do Brasil S.A.                                                            | CUSIP: ZK1496189<br>LEI: QE0Q0253K88YAGNPE356 | Long             | DBT              | CORP              | BR        |    290000 | PA      | $301391.20    | 0.15%             | 2030-04-18      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Allwyn Entertainment Financing (UK) PLC                                         | Allwyn Entertainment Financing (UK) PLC                                         | CUSIP: ZK2715520<br>LEI: 315700J7ZTIN8XGCX365 | Long             | DBT              | CORP              | GB        |    292000 | PA      | $304173.09    | 0.15%             | 2029-04-30      | Fixed         | 7.88%                 | No            |                  2 | On Loan: —       |
| First Quantum Minerals Ltd.                                                     | First Quantum Minerals Ltd.                                                     | CUSIP: ZK7185364<br>LEI: 549300I7UVBGWRYMYZ18 | Long             | DBT              | CORP              | CA        |    981000 | PA      | $1031718.68   | 0.52%             | 2031-06-01      | Fixed         | 8.62%                 | No            |                  2 | On Loan: No      |
| Bapco Energies Sukuk Ltd.                                                       | Bapco Energies Sukuk Ltd.                                                       | CUSIP: ZK7051020<br>LEI: 54930062R6OFRHBRAI29 | Long             | DBT              | CORP              | KY        |    400000 | PA      | $421822.89    | 0.21%             | 2033-05-25      | Fixed         | 6.62%                 | No            |                  2 | On Loan: —       |
| Electricite de France                                                           | Electricite de France                                                           | CUSIP: ZK9266931<br>LEI: 549300X3UK4GG3FNMO06 | Long             | DBT              | CORP              | FR        |    670000 | PA      | $793391.22    | 0.40%             | N/A             | Variable      | 9.12%                 | No            |                  2 | On Loan: No      |
| Petrobras Global Finance B.V.                                                   | Petrobras Global Finance B.V.                                                   | CUSIP: 71645WAS0<br>LEI: 549300FNENFFSMO3GT38 | Long             | DBT              | CORP              | NL        |    253000 | PA      | $254356.08    | 0.13%             | 2041-01-27      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Petrobras Global Finance B.V.                                                   | Petrobras Global Finance B.V.                                                   | CUSIP: 71647NBK4<br>LEI: 549300FNENFFSMO3GT38 | Long             | DBT              | CORP              | NL        |    340000 | PA      | $355206.50    | 0.18%             | 2033-07-03      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Energean Israel Finance Ltd.                                                    | Energean Israel Finance Ltd.                                                    | CUSIP: 29290WAA5<br>LEI: 98450044QACBL3F8EB03 | Long             | DBT              | CORP              | IL        |    380000 | PA      | $407502.87    | 0.20%             | 2033-09-30      | Fixed         | 8.50%                 | No            |                  2 | On Loan: —       |
| Ecopetrol S.A.                                                                  | Ecopetrol S.A.                                                                  | CUSIP: 279158AT6<br>LEI: 254900IDGKCJICKBPA66 | Long             | DBT              | CORP              | CO        |    339000 | PA      | $363392.07    | 0.18%             | 2029-01-19      | Fixed         | 8.62%                 | No            |                  2 | On Loan: No      |
| Dar Al-Arkan Sukuk Co. Ltd.                                                     | Dar Al-Arkan Sukuk Co. Ltd.                                                     | CUSIP: ZJ8209455<br>LEI: 5493000UYHRBXEIYUQ69 | Long             | DBT              | CORP              | KY        |    300000 | PA      | $314568.60    | 0.16%             | 2029-02-25      | Fixed         | 8.00%                 | No            |                  2 | On Loan: —       |
| Mineral Resources Ltd.                                                          | Mineral Resources Ltd.                                                          | CUSIP: BW1328572<br>LEI: 5299007V1ACKFFX2P066 | Long             | DBT              | CORP              | AU        |    293000 | PA      | $299903.75    | 0.15%             | 2027-11-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Baffinland Iron Mines Corp. / Baffinland Iron Mines L.P.                        | Baffinland Iron Mines Corp. / Baffinland Iron Mines L.P.                        | CUSIP: AT2732689<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |    220000 | PA      | $191682.33    | 0.10%             | 2026-07-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| Virgin Media Secured Finance PLC                                                | Virgin Media Secured Finance PLC                                                | CUSIP: ZS5390662<br>LEI: 213800X3RLP4NOTPY579 | Long             | DBT              | CORP              | GB        |    581000 | PA      | $573352.12    | 0.29%             | 2029-05-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Brookfield Residential Properties Inc / Brookfield Residential US LLC           | Brookfield Residential Properties Inc / Brookfield Residential US LLC           | CUSIP: ZR5517688<br>LEI: 549300C2SXDXVIUV3Q14 | Long             | DBT              | CORP              | CA        |    240000 | PA      | $240174.24    | 0.12%             | 2027-09-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Lcpr Senior Secured Financing DAC                                               | Lcpr Senior Secured Financing DAC                                               | CUSIP: ZQ0602594<br>LEI: 549300LE5FM8IKMXSP90 | Long             | DBT              | CORP              | IE        |    535000 | PA      | $373662.73    | 0.19%             | 2027-10-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| 1011778 BC ULC / New Red Finance Inc.                                           | 1011778 BC ULC / New Red Finance Inc.                                           | CUSIP: ZQ6200138<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |    317000 | PA      | $315320.28    | 0.16%             | 2028-01-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Open Text Holdings, Inc.                                                        | Open Text Holdings, Inc.                                                        | CUSIP: ZP8525229<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    452000 | PA      | $420289.99    | 0.21%             | 2030-02-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Ziggo Bond Co. B.V.                                                             | Ziggo Bond Co. B.V.                                                             | CUSIP: ZP9032365<br>LEI: 213800JYI4P7V5QDOG59 | Long             | DBT              | CORP              | NL        |    209000 | PA      | $183799.53    | 0.09%             | 2030-02-28      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Brookfield Residential Properties Inc / Brookfield Residential US LLC           | Brookfield Residential Properties Inc / Brookfield Residential US LLC           | CUSIP: BG0196355<br>LEI: 549300C2SXDXVIUV3Q14 | Long             | DBT              | CORP              | CA        |    190000 | PA      | $177536.30    | 0.09%             | 2030-02-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Mattamy Group Corp.                                                             | Mattamy Group Corp.                                                             | CUSIP: BG1901829<br>LEI: 5493008TNY7A82WCXU31 | Long             | DBT              | CORP              | CA        |    230000 | PA      | $224770.51    | 0.11%             | 2030-03-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Virgin Media Finance PLC                                                        | Virgin Media Finance PLC                                                        | CUSIP: BJ8087808<br>LEI: 2138001LVYC87DDHT482 | Long             | DBT              | CORP              | GB        |    420000 | PA      | $367349.35    | 0.18%             | 2030-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Virgin Media Vendor Financing Notes Iv DAC                                      | Virgin Media Vendor Financing Notes Iv DAC                                      | CUSIP: BJ9821502<br>LEI: 635400ZZNJSEA4CAJR23 | Long             | DBT              | CORP              | IE        |    220000 | PA      | $220000.00    | 0.11%             | 2028-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Virgin Media Secured Finance PLC                                                | Virgin Media Secured Finance PLC                                                | CUSIP: BK1321342<br>LEI: 213800X3RLP4NOTPY579 | Long             | DBT              | CORP              | GB        |    410000 | PA      | $379073.95    | 0.19%             | 2030-08-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| TK Elevator U.S. Newco, Inc.                                                    | TK Elevator U.S. Newco, Inc.                                                    | CUSIP: BK2987604<br>LEI: 549300C2AFWPAYWS5574 | Long             | DBT              | CORP              | US        |    650000 | PA      | $651199.90    | 0.33%             | 2027-07-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| 1011778 BC ULC / New Red Finance Inc.                                           | 1011778 BC ULC / New Red Finance Inc.                                           | CUSIP: BM0431809<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |    287000 | PA      | $276775.34    | 0.14%             | 2029-02-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| GFL Environmental Inc.                                                          | GFL Environmental Inc.                                                          | CUSIP: BM5859426<br>LEI: 894500E7NLBY9VZRT696 | Long             | DBT              | CORP              | CA        |    287000 | PA      | $282629.36    | 0.14%             | 2028-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Constellium SE                                                                  | Constellium SE                                                                  | CUSIP: BN9953165<br>LEI: 724500KRJEMC79KAAU28 | Long             | DBT              | CORP              | FR        |    150000 | PA      | $145278.11    | 0.07%             | 2029-04-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Superior Plus L.P./ Superior General Partner Inc.                               | Superior Plus L.P./ Superior General Partner Inc.                               | CUSIP: N/A<br>LEI: 549300K5Y13GU6TPZJ49       | Long             | DBT              | CORP              | CA        |    230000 | PA      | $224840.07    | 0.11%             | 2029-03-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FMG Resources (August 2006) Pty Ltd.                                            | FMG Resources (August 2006) Pty Ltd.                                            | CUSIP: N/A<br>LEI: 549300EFD6S2NFE9D745       | Long             | DBT              | CORP              | AU        |    420000 | PA      | $406182.05    | 0.20%             | 2031-04-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Lcpr Senior Secured Financing DAC                                               | Lcpr Senior Secured Financing DAC                                               | CUSIP: N/A<br>LEI: 549300LE5FM8IKMXSP90       | Long             | DBT              | CORP              | IE        |    370000 | PA      | $247261.49    | 0.12%             | 2029-07-15      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Sunrise FinCo I B.V.                                                            | Sunrise FinCo I B.V.                                                            | CUSIP: N/A<br>LEI: 213800MNFBDEQRS6HZ22       | Long             | DBT              | CORP              | NL        |    520000 | PA      | $498672.20    | 0.25%             | 2031-07-15      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: —       |
| NOVA Chemicals Corp.                                                            | NOVA Chemicals Corp.                                                            | CUSIP: BP2953555<br>LEI: 549300ZOD6N7RI2FJP09 | Long             | DBT              | CORP              | CA        |    220000 | PA      | $214704.54    | 0.11%             | 2029-05-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Garda World Security Corp.                                                      | Garda World Security Corp.                                                      | CUSIP: BP5570984<br>LEI: 549300ZF1NDXLMCHNO20 | Long             | DBT              | CORP              | CA        |    200000 | PA      | $196946.10    | 0.10%             | 2029-06-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GFL Environmental Inc.                                                          | GFL Environmental Inc.                                                          | CUSIP: BP8841762<br>LEI: 894500E7NLBY9VZRT696 | Long             | DBT              | CORP              | CA        |    310000 | PA      | $308184.42    | 0.15%             | 2029-06-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| GFL Environmental Inc.                                                          | GFL Environmental Inc.                                                          | CUSIP: BQ8608326<br>LEI: 894500E7NLBY9VZRT696 | Long             | DBT              | CORP              | CA        |    310000 | PA      | $303916.70    | 0.15%             | 2029-08-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: —       |
| Bombardier Inc.                                                                 | Bombardier Inc.                                                                 | CUSIP: BQ9441370<br>LEI: W7L3VLU8EHQY34Z36697 | Long             | DBT              | CORP              | CA        |    195000 | PA      | $195413.60    | 0.10%             | 2028-02-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Grifols, S.A.                                                                   | Grifols, S.A.                                                                   | CUSIP: BR6435274<br>LEI: 959800HSSNXWRKBK4N60 | Long             | DBT              | CORP              | ES        |    288000 | PA      | $283892.72    | 0.14%             | 2028-10-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Consolidated Energy Finance S.A.                                                | Consolidated Energy Finance S.A.                                                | CUSIP: BR6436223<br>LEI: 549300PUNIS0USNSL750 | Long             | DBT              | CORP              | LU        |    190000 | PA      | $156987.50    | 0.08%             | 2028-10-15      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Iliad Holding                                                                   | Iliad Holding                                                                   | CUSIP: BR8159948<br>LEI: 9695009BGMXB527HV965 | Long             | DBT              | CORP              | FR        |    350000 | PA      | $354281.90    | 0.18%             | 2028-10-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Open Text Holdings, Inc.                                                        | Open Text Holdings, Inc.                                                        | CUSIP: BS3886238<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    253000 | PA      | $227515.21    | 0.11%             | 2031-12-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Open Text Corp.                                                                 | Open Text Corp.                                                                 | CUSIP: BS3919278<br>LEI: 549300HP7ONDQODZJV16 | Long             | DBT              | CORP              | CA        |    391000 | PA      | $363141.02    | 0.18%             | 2029-12-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| VZ Secured Financing B.V.                                                       | VZ Secured Financing B.V.                                                       | CUSIP: BT3408114<br>LEI: 549300MG611MYCOWY949 | Long             | DBT              | CORP              | NL        |    671000 | PA      | $606324.26    | 0.30%             | 2032-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: —       |
| Rogers Communications Inc.                                                      | Rogers Communications Inc.                                                      | CUSIP: BU2200717<br>LEI: 5493000M6Z4XFIP6PF03 | Long             | DBT              | CORP              | CA        |    302000 | PA      | $301848.76    | 0.15%             | 2082-03-15      | Variable      | 5.25%                 | No            |                  2 | On Loan: No      |
| FMG Resources (August 2006) Pty Ltd.                                            | FMG Resources (August 2006) Pty Ltd.                                            | CUSIP: BV7721772<br>LEI: 549300EFD6S2NFE9D745 | Long             | DBT              | CORP              | AU        |    316000 | PA      | $329375.02    | 0.16%             | 2032-04-15      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| Mineral Resources Ltd.                                                          | Mineral Resources Ltd.                                                          | CUSIP: BW1328580<br>LEI: 5299007V1ACKFFX2P066 | Long             | DBT              | CORP              | AU        |    342000 | PA      | $354837.57    | 0.18%             | 2030-05-01      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| Bombardier Inc.                                                                 | Bombardier Inc.                                                                 | CUSIP: ZM5068154<br>LEI: W7L3VLU8EHQY34Z36697 | Long             | DBT              | CORP              | CA        |    337000 | PA      | $350274.05    | 0.17%             | 2029-02-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| RB Global Holdings Inc.                                                         | RB Global Holdings Inc.                                                         | CUSIP: ZL3470065<br>LEI: 254900LH3N0EGB1LQ203 | Long             | DBT              | CORP              | US        |    210000 | PA      | $214164.51    | 0.11%             | 2028-03-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| RB Global Holdings Inc.                                                         | RB Global Holdings Inc.                                                         | CUSIP: ZL3470073<br>LEI: 254900LH3N0EGB1LQ203 | Long             | DBT              | CORP              | US        |    308000 | PA      | $321440.20    | 0.16%             | 2031-03-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| Jones Deslauriers Insurance Management Inc.                                     | Jones Deslauriers Insurance Management Inc.                                     | CUSIP: ZL3807886<br>LEI: 549300JQIWNFU00E5424 | Long             | DBT              | CORP              | CA        |    276000 | PA      | $288755.06    | 0.14%             | 2030-03-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| ZF North America Capital, Inc.                                                  | ZF North America Capital, Inc.                                                  | CUSIP: ZK0624674<br>LEI: 529900JYGMS9CW9IQX78 | Long             | DBT              | CORP              | US        |    331000 | PA      | $341954.45    | 0.17%             | 2028-04-14      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| ZF North America Capital, Inc.                                                  | ZF North America Capital, Inc.                                                  | CUSIP: ZK0624682<br>LEI: 529900JYGMS9CW9IQX78 | Long             | DBT              | CORP              | US        |    270000 | PA      | $276552.63    | 0.14%             | 2030-04-14      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| Calderys Financing, LLC                                                         | Calderys Financing, LLC                                                         | CUSIP: ZK4876783<br>LEI: 254900ZIKDM74XNEFV84 | Long             | DBT              | CORP              | US        |    210000 | PA      | $219063.81    | 0.11%             | 2028-06-01      | Fixed         | 11.25%                | No            |                  2 | On Loan: No      |
| Seadrill Finance Ltd.                                                           | Seadrill Finance Ltd.                                                           | CUSIP: ZJ7494736<br>LEI: 213800WMN3OHFUDHD642 | Long             | DBT              | CORP              | BM        |    200000 | PA      | $209681.40    | 0.10%             | 2030-08-01      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| Kedrion S.p.A.                                                                  | Kedrion S.p.A.                                                                  | CUSIP: ZK2477691<br>LEI: 81560047FA58E1BEDF67 | Long             | DBT              | CORP              | IT        |    400000 | PA      | $395128.52    | 0.20%             | 2029-09-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Minerva Luxembourg S.A.                                                         | Minerva Luxembourg S.A.                                                         | CUSIP: N/A<br>LEI: 222100NM3G3RCPGZ2Z17       | Long             | DBT              | CORP              | LU        |    400000 | PA      | $437268.80    | 0.22%             | 2033-09-13      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| Turkiye Vakiflar Bankasi T.A.O.                                                 | Turkiye Vakiflar Bankasi T.A.O.                                                 | CUSIP: N/A<br>LEI: 789000KAIHOLSQKQ9858       | Long             | DBT              | CORP              | TR        |    270000 | PA      | $293530.65    | 0.15%             | 2028-10-12      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| Yapi Ve Kredi Bankasi A.S.                                                      | Yapi Ve Kredi Bankasi A.S.                                                      | CUSIP: N/A<br>LEI: B85ZYWEZ5IZCZ2WNIO12       | Long             | DBT              | CORP              | TR        |    290000 | PA      | $317584.51    | 0.16%             | 2028-10-16      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| Aegea Finance S.a.r.l.                                                          | Aegea Finance S.a.r.l.                                                          | CUSIP: ZH1642664<br>LEI: 213800V6WTKUT1XWIZ47 | Long             | DBT              | CORP              | LU        |    328000 | PA      | $348791.92    | 0.17%             | 2031-01-20      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| CNG Holdings, Inc.                                                              | CNG Holdings, Inc.                                                              | CUSIP: N/A<br>LEI: 5493007UWN8DW8ZWF476       | Long             | DBT              | CORP              | US        |    300000 | PA      | $275250.00    | 0.14%             | 2026-06-30      | Fixed         | 14.50%                | No            |                  2 | On Loan: No      |
| Mineral Resources Ltd.                                                          | Mineral Resources Ltd.                                                          | CUSIP: ZH1388425<br>LEI: 5299007V1ACKFFX2P066 | Long             | DBT              | CORP              | AU        |    414000 | PA      | $435242.06    | 0.22%             | 2028-10-01      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| WE Soda Investments Holding PLC                                                 | WE Soda Investments Holding PLC                                                 | CUSIP: ZH1040968<br>LEI: 984500SE38C07DB47A90 | Long             | DBT              | CORP              | GB        |    480000 | PA      | $496328.34    | 0.25%             | 2028-10-06      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| Gran Tierra Energy Inc.                                                         | Gran Tierra Energy Inc.                                                         | CUSIP: ZH3280174<br>LEI: 549300IH2S17MAIUCM32 | Long             | DBT              | CORP              | US        |    300000 | PA      | $239997.00    | 0.12%             | 2029-10-15      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| Turkiye Ihracat Kredi Bankasi A.S.                                              | Turkiye Ihracat Kredi Bankasi A.S.                                              | CUSIP: ZH6905793<br>LEI: 789000JVRVYLAXGDWR11 | Long             | DBT              | NUSS              | TR        |    200000 | PA      | $209642.56    | 0.10%             | 2027-01-28      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| Petroleos Mexicanos                                                             | Petroleos Mexicanos                                                             | CUSIP: 71654QDP4<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |    160000 | PA      | $186624.00    | 0.09%             | 2033-02-07      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| Borr IHC Ltd. / Borr Finance LLC                                                | Borr IHC Ltd. / Borr Finance LLC                                                | CUSIP: ZH6885342<br>LEI: 254900WQF2MM46DNLY83 | Long             | DBT              | CORP              | US        |    467317 | PA      | $480335.06    | 0.24%             | 2028-11-15      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| Borr IHC Ltd. / Borr Finance LLC                                                | Borr IHC Ltd. / Borr Finance LLC                                                | CUSIP: ZH6885383<br>LEI: 254900WQF2MM46DNLY83 | Long             | DBT              | CORP              | US        |    360437 | PA      | $368953.30    | 0.18%             | 2030-11-15      | Fixed         | 10.38%                | No            |                  2 | On Loan: No      |
| Alpha Star Holding VIII Ltd.                                                    | Alpha Star Holding VIII Ltd.                                                    | CUSIP: ZH2402316<br>LEI: 254900TMRVHA9YMIFC14 | Long             | DBT              | CORP              | AE        |    200000 | PA      | $206382.20    | 0.10%             | 2027-04-12      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| Ziraat Katilim Varlik Kiralama A.S.                                             | Ziraat Katilim Varlik Kiralama A.S.                                             | CUSIP: ZH8167913<br>LEI: 789000NE04RSMGOX9737 | Long             | DBT              | CORP              | TR        |    210000 | PA      | $218414.60    | 0.11%             | 2026-11-12      | Fixed         | 9.38%                 | No            |                  2 | On Loan: No      |
| Bombardier Inc.                                                                 | Bombardier Inc.                                                                 | CUSIP: ZH9846903<br>LEI: W7L3VLU8EHQY34Z36697 | Long             | DBT              | CORP              | CA        |    310000 | PA      | $332604.27    | 0.17%             | 2030-11-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| Mersin Uluslararasi Liman Isletmeciligi AS                                      | Mersin Uluslararasi Liman Isletmeciligi AS                                      | CUSIP: ZH9743316<br>LEI: 635400DAFN6NT43HM530 | Long             | DBT              | CORP              | TR        |    200000 | PA      | $208696.01    | 0.10%             | 2028-11-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| goeasy Ltd.                                                                     | goeasy Ltd.                                                                     | CUSIP: ZG1214326<br>LEI: 5493009DJVZG2P8YV435 | Long             | DBT              | CORP              | CA        |    224000 | PA      | $230467.10    | 0.12%             | 2028-12-01      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| EG Global Finance PLC                                                           | EG Global Finance PLC                                                           | CUSIP: ZH9877197<br>LEI: 549300TL8Q5207VYET27 | Long             | DBT              | CORP              | GB        |    400000 | PA      | $433202.40    | 0.22%             | 2028-11-30      | Fixed         | 12.00%                | No            |                  2 | On Loan: No      |
| CSN Resources S.A.                                                              | CSN Resources S.A.                                                              | CUSIP: ZG4633373<br>LEI: 222100ZEX458NMOXZP08 | Long             | DBT              | CORP              | LU        |    300000 | PA      | $289573.50    | 0.14%             | 2030-12-05      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| GFL Environmental Inc.                                                          | GFL Environmental Inc.                                                          | CUSIP: ZG4348964<br>LEI: 894500E7NLBY9VZRT696 | Long             | DBT              | CORP              | CA        |    400000 | PA      | $418952.44    | 0.21%             | 2031-01-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Dresdner Funding Trust I                                                        | Dresdner Funding Trust I                                                        | CUSIP: EC1370955<br>LEI: 549300ZEO4BKB37E3J03 | Long             | DBT              | CORP              | US        |    550000 | PA      | $606712.98    | 0.30%             | 2031-06-30      | Fixed         | 8.15%                 | No            |                  2 | On Loan: No      |
| VistaJet Malta Finance PLC / Vista Management Holding Inc.                      | VistaJet Malta Finance PLC / Vista Management Holding Inc.                      | CUSIP: ZK4624035<br>LEI: N/A                  | Long             | DBT              | CORP              | MT        |    200000 | PA      | $208208.80    | 0.10%             | 2028-06-01      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| Samarco Mineracao S.A.                                                          | Samarco Mineracao S.A.                                                          | CUSIP: ZG6352899<br>LEI: 529900U8HKV15GJC4O60 | Long             | DBT              | CORP              | BR        |   2011031 | PA      | $2020166.82   | 1.01%             | 2031-06-30      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| TC Ziraat Bankasi AS                                                            | TC Ziraat Bankasi AS                                                            | CUSIP: ZF2105475<br>LEI: 213800K5KTZFSUS8MR51 | Long             | DBT              | CORP              | TR        |    200000 | PA      | $212963.18    | 0.11%             | 2029-01-16      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Ecopetrol S.A.                                                                  | Ecopetrol S.A.                                                                  | CUSIP: 279158AV1<br>LEI: 254900IDGKCJICKBPA66 | Long             | DBT              | CORP              | CO        |    550000 | PA      | $569385.85    | 0.28%             | 2036-01-19      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| YPF S.A.                                                                        | YPF S.A.                                                                        | CUSIP: ZF2875770<br>LEI: 5493003N7447U18U5U53 | Long             | DBT              | CORP              | AR        |    410000 | PA      | $434943.74    | 0.22%             | 2031-01-17      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| Stena International S.A.                                                        | Stena International S.A.                                                        | CUSIP: ZF2196664<br>LEI: 213800A4LTGG4W55QP46 | Long             | DBT              | CORP              | LU        |    350000 | PA      | $359860.30    | 0.18%             | 2031-01-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| Yapi Ve Kredi Bankasi A.S.                                                      | Yapi Ve Kredi Bankasi A.S.                                                      | CUSIP: ZF2111325<br>LEI: B85ZYWEZ5IZCZ2WNIO12 | Long             | DBT              | CORP              | TR        |    220000 | PA      | $233582.68    | 0.12%             | 2034-01-17      | Variable      | 9.25%                 | No            |                  2 | On Loan: No      |
| Shriram Finance Ltd.                                                            | Shriram Finance Ltd.                                                            | CUSIP: ZF3604971<br>LEI: 335800TM2YO24B76XL26 | Long             | DBT              | CORP              | IN        |    400000 | PA      | $408956.50    | 0.20%             | 2027-04-22      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| Braskem America Finance Co.                                                     | Braskem America Finance Co.                                                     | CUSIP: N/A<br>LEI: 254900QMQAJ26H49CL75       | Long             | DBT              | CORP              | US        |    235000 | PA      | $94077.55     | 0.05%             | 2041-07-22      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| Turkiye Ihracat Kredi Bankasi A.S.                                              | Turkiye Ihracat Kredi Bankasi A.S.                                              | CUSIP: ZF6905656<br>LEI: 789000JVRVYLAXGDWR11 | Long             | DBT              | NUSS              | TR        |    200000 | PA      | $209460.06    | 0.10%             | 2028-02-06      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| OTEL Sukuk Ltd.                                                                 | OTEL Sukuk Ltd.                                                                 | CUSIP: ZF3639167<br>LEI: 254900KXP47C6DXN6A03 | Long             | DBT              | CORP              | KY        |    200000 | PA      | $204105.75    | 0.10%             | 2031-01-24      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Merlin Entertainments Group U.S. Holdings Inc.                                  | Merlin Entertainments Group U.S. Holdings Inc.                                  | CUSIP: ZF4754312<br>LEI: 549300HBQPPKS1187K54 | Long             | DBT              | CORP              | US        |    200000 | PA      | $169511.94    | 0.08%             | 2031-02-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| 3R Lux                                                                          | 3R Lux                                                                          | CUSIP: ZF6674948<br>LEI: 9845007D0DF0BEFD8D97 | Long             | DBT              | CORP              | LU        |    200000 | PA      | $208390.75    | 0.10%             | 2031-02-05      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| Global Auto Holdings Ltd./AAG FH UK Ltd.                                        | Global Auto Holdings Ltd./AAG FH UK Ltd.                                        | CUSIP: ZF2213337<br>LEI: 984500ADEF1BB0584352 | Long             | DBT              | CORP              | GB        |    200000 | PA      | $198914.00    | 0.10%             | 2029-01-15      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| Rakuten Group, Inc.                                                             | Rakuten Group, Inc.                                                             | CUSIP: ZF5958961<br>LEI: 529900IMXUCQKUL1H943 | Long             | DBT              | CORP              | JP        |    750000 | PA      | $799617.73    | 0.40%             | 2027-02-15      | Fixed         | 11.25%                | No            |                  2 | On Loan: No      |
| Global Auto Holdings Ltd./AAG FH UK Ltd.                                        | Global Auto Holdings Ltd./AAG FH UK Ltd.                                        | CUSIP: ZF2213352<br>LEI: N/A                  | Long             | DBT              | CORP              | GB        |    300000 | PA      | $289972.34    | 0.14%             | 2032-01-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| WE Soda Investments Holding PLC                                                 | WE Soda Investments Holding PLC                                                 | CUSIP: ZF8260845<br>LEI: 984500SE38C07DB47A90 | Long             | DBT              | CORP              | GB        |    250000 | PA      | $259374.10    | 0.13%             | 2031-02-14      | Fixed         | 9.38%                 | No            |                  2 | On Loan: No      |
| Howden UK Refinance PLC / Howden UK Refinance 2 PLC / Howden US Refinance LLC   | Howden UK Refinance PLC / Howden UK Refinance 2 PLC / Howden US Refinance LLC   | CUSIP: ZF6656044<br>LEI: 875500O63ODR8S3K5X33 | Long             | DBT              | CORP              | GB        |    200000 | PA      | $204003.40    | 0.10%             | 2032-02-15      | Fixed         | 8.12%                 | No            |                  2 | On Loan: No      |
| Howden UK Refinance PLC / Howden UK Refinance 2 PLC / Howden US Refinance LLC   | Howden UK Refinance PLC / Howden UK Refinance 2 PLC / Howden US Refinance LLC   | CUSIP: ZF6655996<br>LEI: 87550008DPN8BDG67910 | Long             | DBT              | CORP              | GB        |    485000 | PA      | $501941.54    | 0.25%             | 2031-02-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| NOVA Chemicals Corp.                                                            | NOVA Chemicals Corp.                                                            | CUSIP: ZF8369216<br>LEI: 549300ZOD6N7RI2FJP09 | Long             | DBT              | CORP              | CA        |    275000 | PA      | $293611.73    | 0.15%             | 2030-02-15      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| INEOS Finance PLC                                                               | INEOS Finance PLC                                                               | CUSIP: ZF6561111<br>LEI: 2138002D68XDR4LZCG32 | Long             | DBT              | CORP              | GB        |    300000 | PA      | $251521.21    | 0.13%             | 2029-04-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Mazoon Assets Co. SAOC                                                          | Mazoon Assets Co. SAOC                                                          | CUSIP: ZF8309865<br>LEI: 6354003TDIRN5Y6LJP91 | Long             | DBT              | CORP              | OM        |    200000 | PA      | $204808.20    | 0.10%             | 2029-02-14      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Consolidated Energy Finance S.A.                                                | Consolidated Energy Finance S.A.                                                | CUSIP: ZF7037673<br>LEI: 549300PUNIS0USNSL750 | Long             | DBT              | CORP              | LU        |    250000 | PA      | $210287.50    | 0.10%             | 2031-02-15      | Fixed         | 12.00%                | No            |                  2 | On Loan: No      |
| Ardonagh Group Finance Ltd.                                                     | Ardonagh Group Finance Ltd.                                                     | CUSIP: ZF8261215<br>LEI: 254900SRT1BTAJ76NW62 | Long             | DBT              | CORP              | JE        |    700000 | PA      | $722384.70    | 0.36%             | 2032-02-15      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| Ardonagh Finco Ltd.                                                             | Ardonagh Finco Ltd.                                                             | CUSIP: ZF8261165<br>LEI: 254900D2T84O1K03BA28 | Long             | DBT              | CORP              | JE        |    550000 | PA      | $568902.50    | 0.28%             | 2031-02-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| Amer Sports Co.                                                                 | Amer Sports Co.                                                                 | CUSIP: ZF8711128<br>LEI: 549300NRKH9WF70VFC95 | Long             | DBT              | CORP              | US        |    340000 | PA      | $354404.44    | 0.18%             | 2031-02-16      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Turkiye Garanti Bankasi A.S.                                                    | Turkiye Garanti Bankasi A.S.                                                    | CUSIP: ZD1754278<br>LEI: 5493002XSS7K7RHN1V37 | Long             | DBT              | CORP              | TR        |    200000 | PA      | $207921.08    | 0.10%             | 2034-02-28      | Variable      | 8.38%                 | No            |                  2 | On Loan: No      |
| IRB Infrastructure Developers Ltd.                                              | IRB Infrastructure Developers Ltd.                                              | CUSIP: ZD2886491<br>LEI: 335800XGO3AITGW6AK27 | Long             | DBT              | CORP              | IN        |    400000 | PA      | $418034.84    | 0.21%             | 2032-03-11      | Fixed         | 7.11%                 | No            |                  2 | On Loan: No      |
| Banco do Brasil S.A.                                                            | Banco do Brasil S.A.                                                            | CUSIP: ZD6506764<br>LEI: QE0Q0253K88YAGNPE356 | Long             | DBT              | CORP              | BR        |    340000 | PA      | $349559.33    | 0.17%             | 2031-03-18      | Fixed         | 6.00%                 | No            |                  2 | On Loan: —       |
| Petroleos Mexicanos                                                             | Petroleos Mexicanos                                                             | CUSIP: 71654QAZ5<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |    120000 | PA      | $104705.96    | 0.05%             | 2041-06-02      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Arabian Centres Sukuk III Ltd.                                                  | Arabian Centres Sukuk III Ltd.                                                  | CUSIP: ZD3394669<br>LEI: 254900BZVZFBSA5NA163 | Long             | DBT              | CORP              | KY        |    200000 | PA      | $208372.47    | 0.10%             | 2029-03-06      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| Aston Martin Capital Holdings Ltd.                                              | Aston Martin Capital Holdings Ltd.                                              | CUSIP: ZD7186467<br>LEI: 213800H4GKEF3CJ8C774 | Long             | DBT              | CORP              | JE        |    450000 | PA      | $401975.73    | 0.20%             | 2029-03-31      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| Binghatti Sukuk SPC Ltd.                                                        | Binghatti Sukuk SPC Ltd.                                                        | CUSIP: ZD1751506<br>LEI: 254900Q5ANAJ5RI08U80 | Long             | DBT              | CORP              | AE        |    200000 | PA      | $205693.45    | 0.10%             | 2027-02-28      | Fixed         | 9.62%                 | No            |                  2 | On Loan: No      |
| Bombardier Inc.                                                                 | Bombardier Inc.                                                                 | CUSIP: ZD9697792<br>LEI: W7L3VLU8EHQY34Z36697 | Long             | DBT              | CORP              | CA        |    350000 | PA      | $372019.90    | 0.19%             | 2031-07-01      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| VMED 02 UK Financing I PLC                                                      | VMED 02 UK Financing I PLC                                                      | CUSIP: ZB0487205<br>LEI: 213800MRR46ECNGZ7L69 | Long             | DBT              | CORP              | GB        |    400000 | PA      | $411858.00    | 0.21%             | 2032-04-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| Panama Infrastructure Receivable Purchaser PLC                                  | Panama Infrastructure Receivable Purchaser PLC                                  | CUSIP: ZB1884699<br>LEI: 213800QSH7EDGMUDJW25 | Long             | DBT              | CORP              | GB        |    550000 | PA      | $430078.00    | 0.21%             | 2032-04-05      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Movida Europe S.A.                                                              | Movida Europe S.A.                                                              | CUSIP: ZB2126561<br>LEI: 549300YRJE0V6QKU7C86 | Long             | DBT              | CORP              | LU        |    200000 | PA      | $194092.77    | 0.10%             | 2029-04-11      | Fixed         | 7.85%                 | No            |                  2 | On Loan: No      |
| Rakuten Group, Inc.                                                             | Rakuten Group, Inc.                                                             | CUSIP: ZB1404480<br>LEI: 529900IMXUCQKUL1H943 | Long             | DBT              | CORP              | JP        |    875000 | PA      | $981097.01    | 0.49%             | 2029-04-15      | Fixed         | 9.75%                 | No            |                  2 | On Loan: —       |
| Melco Resorts Finance Ltd.                                                      | Melco Resorts Finance Ltd.                                                      | CUSIP: ZB2907929<br>LEI: 5493000FQDBWKDBZEF60 | Long             | DBT              | CORP              | KY        |    450000 | PA      | $472265.94    | 0.24%             | 2032-04-17      | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| Dye & Durham Ltd.                                                               | Dye & Durham Ltd.                                                               | CUSIP: ZB1403037<br>LEI: 549300XUQDPIC5QRY347 | Long             | DBT              | CORP              | CA        |    228000 | PA      | $205282.60    | 0.10%             | 2029-04-15      | Fixed         | 8.62%                 | No            |                  2 | On Loan: No      |
| Taseko Mines Ltd.                                                               | Taseko Mines Ltd.                                                               | CUSIP: ZB2893160<br>LEI: 549300XKUO1JSLU7KX54 | Long             | DBT              | CORP              | CA        |    200000 | PA      | $212538.40    | 0.11%             | 2030-05-01      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| Banco BTG Pactual S.A.                                                          | Banco BTG Pactual S.A.                                                          | CUSIP: 05971BAK5<br>LEI: 2549002JHJ73KGETOK78 | Long             | DBT              | CORP              | BR        |    170000 | PA      | $175755.86    | 0.09%             | 2029-04-08      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| ZF North America Capital, Inc.                                                  | ZF North America Capital, Inc.                                                  | CUSIP: ZB5038839<br>LEI: 529900JYGMS9CW9IQX78 | Long             | DBT              | CORP              | US        |    280000 | PA      | $279383.52    | 0.14%             | 2032-04-23      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| ZF North America Capital, Inc.                                                  | ZF North America Capital, Inc.                                                  | CUSIP: ZB5038797<br>LEI: 529900JYGMS9CW9IQX78 | Long             | DBT              | CORP              | US        |    365000 | PA      | $366219.10    | 0.18%             | 2030-04-23      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Ford Otomotiv Sanayi A.S.                                                       | Ford Otomotiv Sanayi A.S.                                                       | CUSIP: ZB3746714<br>LEI: 7890006XJG6ZE2H34671 | Long             | DBT              | CORP              | TR        |    200000 | PA      | $207847.85    | 0.10%             | 2029-04-25      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| Sisecam UK PLC                                                                  | Sisecam UK PLC                                                                  | CUSIP: ZB6876237<br>LEI: 789000T82YRLMLUOC889 | Long             | DBT              | CORP              | GB        |    275000 | PA      | $285059.98    | 0.14%             | 2032-05-02      | Fixed         | 8.62%                 | No            |                  2 | On Loan: No      |
| Puma International Financing S.A.                                               | Puma International Financing S.A.                                               | CUSIP: ZB3882097<br>LEI: 222100YFBPO7IDRUBR17 | Long             | DBT              | CORP              | LU        |    200000 | PA      | $207471.53    | 0.10%             | 2029-04-25      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| TC Ziraat Bankasi AS                                                            | TC Ziraat Bankasi AS                                                            | CUSIP: ZB6532897<br>LEI: 213800K5KTZFSUS8MR51 | Long             | DBT              | CORP              | TR        |    200000 | PA      | $212591.17    | 0.11%             | 2034-08-02      | Variable      | 8.99%                 | No            |                  2 | On Loan: No      |
| Sisecam UK PLC                                                                  | Sisecam UK PLC                                                                  | CUSIP: ZB6876161<br>LEI: 789000T82YRLMLUOC889 | Long             | DBT              | CORP              | GB        |    200000 | PA      | $206304.95    | 0.10%             | 2029-05-02      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| Iliad Holding                                                                   | Iliad Holding                                                                   | CUSIP: ZB8089847<br>LEI: 9695009BGMXB527HV965 | Long             | DBT              | CORP              | FR        |    420000 | PA      | $450006.90    | 0.22%             | 2031-04-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| Muthoot Finance Ltd.                                                            | Muthoot Finance Ltd.                                                            | CUSIP: 62828M2C4<br>LEI: 335800HAMJMBFL4RRF02 | Long             | DBT              | CORP              | IN        |    260000 | PA      | $266464.41    | 0.13%             | 2028-02-14      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| Garrett Motion Holdings Inc / Garrett LX I S.a.r.l.                             | Garrett Motion Holdings Inc / Garrett LX I S.a.r.l.                             | CUSIP: ZB9210434<br>LEI: 5493001N1N6Z0SR83G07 | Long             | DBT              | CORP              | US        |    325000 | PA      | $344263.08    | 0.17%             | 2032-05-31      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| Turk Telekomunikasyon A.S.                                                      | Turk Telekomunikasyon A.S.                                                      | CUSIP: ZB9453844<br>LEI: 789000A2TXOI10JZLF90 | Long             | DBT              | CORP              | TR        |    200000 | PA      | $208475.53    | 0.10%             | 2029-05-20      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| Trident Energy Finance PLC                                                      | Trident Energy Finance PLC                                                      | CUSIP: YX0692252<br>LEI: 9845004ECK3FYO64I382 | Long             | DBT              | CORP              | GB        |    400000 | PA      | $417297.06    | 0.21%             | 2029-11-30      | Fixed         | 12.50%                | No            |                  2 | On Loan: No      |
| QNB Bank A.S.                                                                   | QNB Bank A.S.                                                                   | CUSIP: YX0716275<br>LEI: 789000Q21SW842S9IJ58 | Long             | DBT              | CORP              | TR        |    200000 | PA      | $210666.95    | 0.11%             | 2029-05-21      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| HTA Group, Ltd.                                                                 | HTA Group, Ltd.                                                                 | CUSIP: YX2222371<br>LEI: 213800WEFU8O8X6EPU13 | Long             | DBT              | CORP              | MU        |    350000 | PA      | $362021.07    | 0.18%             | 2029-06-04      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Bombardier Inc.                                                                 | Bombardier Inc.                                                                 | CUSIP: YX2556307<br>LEI: W7L3VLU8EHQY34Z36697 | Long             | DBT              | CORP              | CA        |    305000 | PA      | $320545.31    | 0.16%             | 2032-06-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Vestel Elektronik Sanayi ve Ticaret A.S.                                        | Vestel Elektronik Sanayi ve Ticaret A.S.                                        | CUSIP: ZB8403683<br>LEI: 789000X20ITI3ANQEL70 | Long             | DBT              | CORP              | TR        |    200000 | PA      | $150339.92    | 0.08%             | 2029-05-15      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| Yinson Boronia Production B.V.                                                  | Yinson Boronia Production B.V.                                                  | CUSIP: YX4051117<br>LEI: 5493007X12FTT746N678 | Long             | DBT              | CORP              | NL        |    539600 | PA      | $599989.32    | 0.30%             | 2042-07-31      | Fixed         | 8.95%                 | No            |                  2 | On Loan: No      |
| Bank of Bahrain and Kuwait B.S.C.                                               | Bank of Bahrain and Kuwait B.S.C.                                               | CUSIP: YX3558583<br>LEI: 549300MCPF5HTBF8ZR90 | Long             | DBT              | CORP              | BH        |    200000 | PA      | $206334.90    | 0.10%             | 2029-06-06      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Turkiye Is Bankasi A.S.                                                         | Turkiye Is Bankasi A.S.                                                         | CUSIP: YX5605689<br>LEI: 789000FIRX9MDN0KTM91 | Long             | DBT              | CORP              | TR        |    200000 | PA      | $211528.95    | 0.11%             | 2029-06-12      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| AES Andes S.A.                                                                  | AES Andes S.A.                                                                  | CUSIP: YX5679510<br>LEI: 549300IF4IFG0FS0RM26 | Long             | DBT              | CORP              | CL        |    200000 | PA      | $212982.07    | 0.11%             | 2055-06-10      | Variable      | 8.15%                 | No            |                  2 | On Loan: No      |
| 1011778 BC ULC / New Red Finance Inc.                                           | 1011778 BC ULC / New Red Finance Inc.                                           | CUSIP: YX5951794<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |    500000 | PA      | $512948.66    | 0.26%             | 2029-06-15      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| Akbank Turk A.S.                                                                | Akbank Turk A.S.                                                                | CUSIP: YX7312383<br>LEI: 789000TUMN63Z28TJ497 | Long             | DBT              | CORP              | TR        |    200000 | PA      | $211369.80    | 0.11%             | 2030-01-20      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| MGM China Holdings Ltd.                                                         | MGM China Holdings Ltd.                                                         | CUSIP: YX8092257<br>LEI: 529900VZFN87OS7WJM66 | Long             | DBT              | CORP              | KY        |    200000 | PA      | $212463.45    | 0.11%             | 2031-06-26      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| Continuum Green Energy India Pvt / Co-Issuers                                   | Continuum Green Energy India Pvt / Co-Issuers                                   | CUSIP: YX3906402<br>LEI: 3358004RA32K53YGBC38 | Long             | DBT              | CORP              | IN        |    206965 | PA      | $217076.34    | 0.11%             | 2033-06-26      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Aeropuertos Dominicanos Siglo XXI, S.A.                                         | Aeropuertos Dominicanos Siglo XXI, S.A.                                         | CUSIP: YW0544265<br>LEI: 254900KJA5MXNPYB4W32 | Long             | DBT              | CORP              | DO        |    200000 | PA      | $209955.00    | 0.10%             | 2034-06-30      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| XP Inc.                                                                         | XP Inc.                                                                         | CUSIP: YW0531510<br>LEI: 5493008KDA8NBZRJST80 | Long             | DBT              | CORP              | KY        |    220000 | PA      | $228324.58    | 0.11%             | 2029-07-02      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Arada Sukuk 2 Ltd.                                                              | Arada Sukuk 2 Ltd.                                                              | CUSIP: YX6696901<br>LEI: 254900QJ8SRKQPBY4V77 | Long             | DBT              | CORP              | KY        |    200000 | PA      | $207695.57    | 0.10%             | 2029-06-24      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Turkiye Vakiflar Bankasi T.A.O.                                                 | Turkiye Vakiflar Bankasi T.A.O.                                                 | CUSIP: YW0160534<br>LEI: 789000KAIHOLSQKQ9858 | Long             | DBT              | CORP              | TR        |    400000 | PA      | $423776.62    | 0.21%             | 2034-10-05      | Variable      | 8.99%                 | No            |                  2 | On Loan: No      |
| Northriver Midstream Finance L.P.                                               | Northriver Midstream Finance L.P.                                               | CUSIP: YX9610115<br>LEI: 549300SOLNLY3BL6GF18 | Long             | DBT              | CORP              | CA        |    250000 | PA      | $254532.75    | 0.13%             | 2032-07-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Kronos Acquisition Holdings Inc.                                                | Kronos Acquisition Holdings Inc.                                                | CUSIP: YX9614398<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    300000 | PA      | $211875.00    | 0.11%             | 2031-06-30      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| FIBERCOP S.p.A.                                                                 | FIBERCOP S.p.A.                                                                 | CUSIP: YW1239535<br>LEI: 8156007022402E114A31 | Long             | DBT              | CORP              | IT        |    200000 | PA      | $195218.43    | 0.10%             | 2034-09-30      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Wrangler Holdco Corp.                                                           | Wrangler Holdco Corp.                                                           | CUSIP: YX5971107<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    200000 | PA      | $208248.20    | 0.10%             | 2032-04-01      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| FIBERCOP S.p.A.                                                                 | FIBERCOP S.p.A.                                                                 | CUSIP: YW1227464<br>LEI: 8156007022402E114A31 | Long             | DBT              | CORP              | IT        |    200000 | PA      | $203052.00    | 0.10%             | 2033-11-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| SoftBank Group Corp.                                                            | SoftBank Group Corp.                                                            | CUSIP: YX9778581<br>LEI: 5493003BZYYYCDIO0R13 | Long             | DBT              | CORP              | JP        |    200000 | PA      | $203425.91    | 0.10%             | 2031-07-08      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Ulker Biskuvi Sanayi A.S.                                                       | Ulker Biskuvi Sanayi A.S.                                                       | CUSIP: YW0474950<br>LEI: 7890009HEU9BS7J3DA93 | Long             | DBT              | CORP              | TR        |    400000 | PA      | $421943.49    | 0.21%             | 2031-07-08      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| FIBERCOP S.p.A.                                                                 | FIBERCOP S.p.A.                                                                 | CUSIP: YW1283509<br>LEI: 8156007022402E114A31 | Long             | DBT              | CORP              | IT        |    200000 | PA      | $202864.00    | 0.10%             | 2036-07-18      | Fixed         | 7.20%                 | No            |                  2 | On Loan: No      |
| FIBERCOP S.p.A.                                                                 | FIBERCOP S.p.A.                                                                 | CUSIP: YW1291676<br>LEI: 8156007022402E114A31 | Long             | DBT              | CORP              | IT        |    200000 | PA      | $205918.80    | 0.10%             | 2038-06-04      | Fixed         | 7.72%                 | No            |                  2 | On Loan: No      |
| Telecom Argentina S.A.                                                          | Telecom Argentina S.A.                                                          | CUSIP: YW3633396<br>LEI: 549300MKPIRSJD8SB782 | Long             | DBT              | CORP              | AR        |    370000 | PA      | $395530.00    | 0.20%             | 2031-07-18      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| Zegona Finance PLC                                                              | Zegona Finance PLC                                                              | CUSIP: YW1080855<br>LEI: 254900B3KC1SS7T2TE92 | Long             | DBT              | CORP              | GB        |    350000 | PA      | $370045.55    | 0.18%             | 2029-07-15      | Fixed         | 8.62%                 | No            |                  2 | On Loan: No      |
| Eregli Demir ve Celik Fabrikalari TAS                                           | Eregli Demir ve Celik Fabrikalari TAS                                           | CUSIP: YW3226241<br>LEI: 789000VYQF5IDGG49908 | Long             | DBT              | CORP              | TR        |    525000 | PA      | $555930.86    | 0.28%             | 2029-07-23      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| Limak Cimento Sanayi ve Ticaret A.S.                                            | Limak Cimento Sanayi ve Ticaret A.S.                                            | CUSIP: YW4167816<br>LEI: 789000EEUQIGHI88WH47 | Long             | DBT              | CORP              | TR        |    400000 | PA      | $408462.70    | 0.20%             | 2029-07-25      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| Infrabuild Australia Pty Ltd.                                                   | Infrabuild Australia Pty Ltd.                                                   | CUSIP: ZH9839023<br>LEI: 549300W2CPB5W6GFH859 | Long             | DBT              | CORP              | AU        |    293000 | PA      | $307469.94    | 0.15%             | 2028-11-15      | Fixed         | 14.50%                | No            |                  2 | On Loan: No      |
| Garda World Security Corp.                                                      | Garda World Security Corp.                                                      | CUSIP: YW5779056<br>LEI: 549300ZF1NDXLMCHNO20 | Long             | DBT              | CORP              | CA        |    300000 | PA      | $306735.00    | 0.15%             | 2032-08-01      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| Pegasus Hava Tasimaciligi A.S.                                                  | Pegasus Hava Tasimaciligi A.S.                                                  | CUSIP: YV5345876<br>LEI: 789000B1MW5PQ58A8T03 | Long             | DBT              | CORP              | TR        |    200000 | PA      | $211329.70    | 0.11%             | 2031-09-11      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Petrobras Global Finance B.V.                                                   | Petrobras Global Finance B.V.                                                   | CUSIP: 71647NBL2<br>LEI: 549300FNENFFSMO3GT38 | Long             | DBT              | CORP              | NL        |    335000 | PA      | $333869.38    | 0.17%             | 2035-01-13      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Vedanta Resources Finance II PLC                                                | Vedanta Resources Finance II PLC                                                | CUSIP: YV5275545<br>LEI: 8945002DGA3BBXO3N634 | Long             | DBT              | CORP              | GB        |    500000 | PA      | $535878.69    | 0.27%             | 2029-09-17      | Fixed         | 10.88%                | No            |                  2 | On Loan: No      |
| Shriram Finance Ltd.                                                            | Shriram Finance Ltd.                                                            | CUSIP: YV9862264<br>LEI: 335800TM2YO24B76XL26 | Long             | DBT              | CORP              | IN        |    200000 | PA      | $206095.64    | 0.10%             | 2028-04-03      | Fixed         | 6.15%                 | No            |                  2 | On Loan: No      |
| AXIA Energia                                                                    | AXIA Energia                                                                    | CUSIP: YV6294339<br>LEI: 254900I8KYDELP4B4Z08 | Long             | DBT              | CORP              | BR        |    260000 | PA      | $271063.00    | 0.14%             | 2035-01-11      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| YPF S.A.                                                                        | YPF S.A.                                                                        | CUSIP: YV5992677<br>LEI: 5493003N7447U18U5U53 | Long             | DBT              | CORP              | AR        |    435000 | PA      | $450208.91    | 0.22%             | 2031-09-11      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| Kosmos Energy Ltd.                                                              | Kosmos Energy Ltd.                                                              | CUSIP: YV7141778<br>LEI: 213800YDFJ3OT9B5P157 | Long             | DBT              | CORP              | US        |    200000 | PA      | $126360.09    | 0.06%             | 2031-10-01      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| Yapi Ve Kredi Bankasi A.S.                                                      | Yapi Ve Kredi Bankasi A.S.                                                      | CUSIP: YV5583906<br>LEI: B85ZYWEZ5IZCZ2WNIO12 | Long             | DBT              | CORP              | TR        |    150000 | PA      | $155706.29    | 0.08%             | 2029-10-10      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| LD Celulose International GmbH                                                  | LD Celulose International GmbH                                                  | CUSIP: YU1010864<br>LEI: 529900EHUSQJVOTP9J45 | Long             | DBT              | CORP              | AT        |    270000 | PA      | $284533.83    | 0.14%             | 2032-01-26      | Fixed         | 7.95%                 | No            |                  2 | On Loan: —       |
| Sable International Finance Ltd.                                                | Sable International Finance Ltd.                                                | CUSIP: YU0318144<br>LEI: 2138009IE9A35LO5JS73 | Long             | DBT              | CORP              | KY        |    421000 | PA      | $426058.32    | 0.21%             | 2032-10-15      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| Global Aircraft Leasing Co., Ltd.                                               | Global Aircraft Leasing Co., Ltd.                                               | CUSIP: YV0565742<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |    463000 | PA      | $479844.40    | 0.24%             | 2027-09-01      | Fixed         | 8.75%                 | No            |                  2 | On Loan: —       |
| 1011778 BC ULC / New Red Finance Inc.                                           | 1011778 BC ULC / New Red Finance Inc.                                           | CUSIP: YV5650994<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |    225000 | PA      | $229088.70    | 0.11%             | 2029-09-15      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Ithaca Energy (North sea) PLC                                                   | Ithaca Energy (North sea) PLC                                                   | CUSIP: YU4054182<br>LEI: 213800BMMUN3AKWBIO91 | Long             | DBT              | CORP              | GB        |    450000 | PA      | $470163.60    | 0.23%             | 2029-10-15      | Fixed         | 8.12%                 | No            |                  2 | On Loan: —       |
| Navoiy Kon-Metallurgiya Kombinati Aksiyadorlik Jamiyati                         | Navoiy Kon-Metallurgiya Kombinati Aksiyadorlik Jamiyati                         | CUSIP: YU3092266<br>LEI: 213800YLNAGERZ4C3M60 | Long             | DBT              | CORP              | UZ        |    200000 | PA      | $207540.73    | 0.10%             | 2028-10-17      | Fixed         | 6.70%                 | No            |                  2 | On Loan: No      |
| Navoiy Kon-Metallurgiya Kombinati Aksiyadorlik Jamiyati                         | Navoiy Kon-Metallurgiya Kombinati Aksiyadorlik Jamiyati                         | CUSIP: YU3092282<br>LEI: 213800YLNAGERZ4C3M60 | Long             | DBT              | CORP              | UZ        |    250000 | PA      | $268997.51    | 0.13%             | 2031-10-17      | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| Ecopetrol S.A.                                                                  | Ecopetrol S.A.                                                                  | CUSIP: 279158AW9<br>LEI: 254900IDGKCJICKBPA66 | Long             | DBT              | CORP              | CO        |    480000 | PA      | $493187.04    | 0.25%             | 2032-02-01      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| Muthoot Finance Ltd.                                                            | Muthoot Finance Ltd.                                                            | CUSIP: 62828M2D2<br>LEI: 335800HAMJMBFL4RRF02 | Long             | DBT              | CORP              | IN        |    250000 | PA      | $255971.15    | 0.13%             | 2029-04-23      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Zorlu Enerji Elektrik Uretim A.S.                                               | Zorlu Enerji Elektrik Uretim A.S.                                               | CUSIP: YU5634883<br>LEI: 7890005B5CSNL39OYO75 | Long             | DBT              | CORP              | TR        |    550000 | PA      | $513791.44    | 0.26%             | 2030-04-23      | Fixed         | 11.00%                | No            |                  2 | On Loan: No      |
| Telecommunications Co. Telekom Srbija Akcionarsko drustvo, Belgrade             | Telecommunications Co. Telekom Srbija Akcionarsko drustvo, Belgrade             | CUSIP: YU5616278<br>LEI: 254900OVY0XI1DFYC092 | Long             | DBT              | CORP              | RS        |    300000 | PA      | $301973.25    | 0.15%             | 2029-10-28      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                                             | Codere Online Luxembourg, S.A., Wrts. 2034-10-15                                | CUSIP: WTBDS6DJ0<br>LEI: N/A                  | N/A              | DE               |  | N/A       |        10 | NS      | $47.59        | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Biocon Biologics Global PLC                                                     | Biocon Biologics Global PLC                                                     | CUSIP: YU2449483<br>LEI: 254900PMQN51VACG2D55 | Long             | DBT              | CORP              | GB        |    370000 | PA      | $375959.71    | 0.19%             | 2029-10-09      | Fixed         | 6.67%                 | No            |                  2 | On Loan: No      |
| Banco BTG Pactual S.A.                                                          | Banco BTG Pactual S.A.                                                          | CUSIP: 05971BAL3<br>LEI: 2549002JHJ73KGETOK78 | Long             | DBT              | CORP              | BR        |    200000 | PA      | $203200.00    | 0.10%             | 2030-01-22      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Oceanica Lux S.a.r.l.                                                           | Oceanica Lux S.a.r.l.                                                           | CUSIP: YU0834348<br>LEI: 635400VU48WVABC1TO64 | Long             | DBT              | CORP              | LU        |    200000 | PA      | $208000.00    | 0.10%             | 2029-10-02      | Fixed         | 13.00%                | No            |                  2 | On Loan: No      |
| LATAM Airlines Group S.A.                                                       | LATAM Airlines Group S.A.                                                       | CUSIP: YU2172903<br>LEI: 549300HX3UUDPEFTG707 | Long             | DBT              | CORP              | CL        |    600000 | PA      | $630258.00    | 0.31%             | 2030-04-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| Ecobank Transnational Inc.                                                      | Ecobank Transnational Inc.                                                      | CUSIP: YU3398564<br>LEI: 213800USCE9Y111R4656 | Long             | DBT              | CORP              | TG        |    200000 | PA      | $216014.99    | 0.11%             | 2029-10-15      | Fixed         | 10.12%                | No            |                  2 | On Loan: No      |
| GDZ Elektrik Dagitim AS                                                         | GDZ Elektrik Dagitim AS                                                         | CUSIP: YU3068829<br>LEI: 984500B63B5766038A64 | Long             | DBT              | CORP              | TR        |    200000 | PA      | $200395.63    | 0.10%             | 2029-10-15      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| Turkiye Vakiflar Bankasi T.A.O.                                                 | Turkiye Vakiflar Bankasi T.A.O.                                                 | CUSIP: YU1765475<br>LEI: 789000KAIHOLSQKQ9858 | Long             | DBT              | CORP              | TR        |    200000 | PA      | $204765.32    | 0.10%             | 2030-01-07      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Mazoon Assets Co. SAOC                                                          | Mazoon Assets Co. SAOC                                                          | CUSIP: YU1771374<br>LEI: 6354003TDIRN5Y6LJP91 | Long             | DBT              | CORP              | OM        |    400000 | PA      | $407124.00    | 0.20%             | 2031-10-09      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Constellation Oil Services Holding S.A.                                         | Constellation Oil Services Holding S.A.                                         | CUSIP: YU7513655<br>LEI: 5493005YJTU769NW5I10 | Long             | DBT              | CORP              | LU        |    300000 | PA      | $313920.00    | 0.16%             | 2029-11-07      | Fixed         | 9.38%                 | No            |                  2 | On Loan: No      |
| Grupo Aeromexico, S.A.B. de C.V.                                                | Grupo Aeromexico, S.A.B. de C.V.                                                | CUSIP: YU8301290<br>LEI: N/A                  | Long             | DBT              | CORP              | MX        |    200000 | PA      | $206000.00    | 0.10%             | 2029-11-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| Grupo Aeromexico, S.A.B. de C.V.                                                | Grupo Aeromexico, S.A.B. de C.V.                                                | CUSIP: YU8301308<br>LEI: N/A                  | Long             | DBT              | CORP              | MX        |    200000 | PA      | $207000.00    | 0.10%             | 2031-11-15      | Fixed         | 8.62%                 | No            |                  2 | On Loan: No      |
| GFH Senior Sukuk Ltd.                                                           | GFH Senior Sukuk Ltd.                                                           | CUSIP: YU6525742<br>LEI: 2549006KGP87C90JH464 | Long             | DBT              | CORP              | KY        |    200000 | PA      | $203033.09    | 0.10%             | 2029-11-06      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Connect Finco S.a.r.l. / Connect US Finco LLC                                   | Connect Finco S.a.r.l. / Connect US Finco LLC                                   | CUSIP: YV6840552<br>LEI: 2594001KNYIQ456J2792 | Long             | DBT              | CORP              | LU        |    800000 | PA      | $850093.60    | 0.42%             | 2029-09-15      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| AltaGas Ltd.                                                                    | AltaGas Ltd.                                                                    | CUSIP: YV8499605<br>LEI: 2549008X5V70MOS4HM10 | Long             | DBT              | CORP              | CA        |    366000 | PA      | $380845.33    | 0.19%             | 2054-10-15      | Variable      | 7.20%                 | No            |                  2 | On Loan: No      |
| Cerdia Finanz GmbH                                                              | Cerdia Finanz GmbH                                                              | CUSIP: YV9994661<br>LEI: 391200KURNDJSX9GX570 | Long             | DBT              | CORP              | DE        |    350000 | PA      | $357777.00    | 0.18%             | 2031-10-03      | Fixed         | 9.38%                 | No            |                  2 | On Loan: No      |
| Belron UK Finance PLC                                                           | Belron UK Finance PLC                                                           | CUSIP: YU1770590<br>LEI: 9845006BC9D1A77B8178 | Long             | DBT              | CORP              | GB        |    600000 | PA      | $611742.77    | 0.31%             | 2029-10-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| IHO Verwaltungs GmbH                                                            | IHO Verwaltungs GmbH                                                            | CUSIP: YU1799292<br>LEI: 529900JL0HDVGZMUJF32 | Long             | DBT              | CORP              | DE        |    200000 | PA      | $210419.37    | 0.11%             | 2030-11-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| Aragvi Finance International DAC                                                | Aragvi Finance International DAC                                                | CUSIP: 03851RAD6<br>LEI: 635400VKAYT1VT6VBF50 | Long             | DBT              | CORP              | IE        |    200000 | PA      | $203672.21    | 0.10%             | 2029-11-20      | Fixed         | 11.12%                | No            |                  2 | On Loan: No      |
| Fortune Star (BVI) Ltd.                                                         | Fortune Star (BVI) Ltd.                                                         | CUSIP: YT1843770<br>LEI: 2549008CU8NYQQRSNU62 | Long             | DBT              | CORP              | VG        |    200000 | PA      | $206993.24    | 0.10%             | 2028-05-19      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| IHS Holding Ltd.                                                                | IHS Holding Ltd.                                                                | CUSIP: YT2657856<br>LEI: 213800CLGMKL63VKTD94 | Long             | DBT              | CORP              | KY        |    350000 | PA      | $361103.26    | 0.18%             | 2030-05-29      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| TGS ASA                                                                         | TGS ASA                                                                         | CUSIP: YT3439825<br>LEI: 549300NUPLAXPB0WYH90 | Long             | DBT              | CORP              | NO        |    300000 | PA      | $316684.57    | 0.16%             | 2030-01-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| Turkiye Garanti Bankasi A.S.                                                    | Turkiye Garanti Bankasi A.S.                                                    | CUSIP: YT4495651<br>LEI: 5493002XSS7K7RHN1V37 | Long             | DBT              | CORP              | TR        |    400000 | PA      | $414286.69    | 0.21%             | 2035-01-03      | Variable      | 8.12%                 | No            |                  2 | On Loan: No      |
| Vedanta Resources Finance II PLC                                                | Vedanta Resources Finance II PLC                                                | CUSIP: YT4110714<br>LEI: 8945002DGA3BBXO3N634 | Long             | DBT              | CORP              | GB        |    200000 | PA      | $221816.50    | 0.11%             | 2031-12-03      | Fixed         | 11.25%                | No            |                  2 | On Loan: No      |
| IHS Holding Ltd.                                                                | IHS Holding Ltd.                                                                | CUSIP: YT2657823<br>LEI: 213800CLGMKL63VKTD94 | Long             | DBT              | CORP              | KY        |    200000 | PA      | $209040.45    | 0.10%             | 2031-11-29      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| California Buyer Ltd. / Atlantica Sustainable Infrastructure PLC                | California Buyer Ltd. / Atlantica Sustainable Infrastructure PLC                | CUSIP: YU6623299<br>LEI: 254900V5SMQ1UP1CLC26 | Long             | DBT              | CORP              | GB        |    300000 | PA      | $299488.26    | 0.15%             | 2032-02-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Garda World Security Corp.                                                      | Garda World Security Corp.                                                      | CUSIP: YU8534114<br>LEI: 549300ZF1NDXLMCHNO20 | Long             | DBT              | CORP              | CA        |    400000 | PA      | $410966.40    | 0.21%             | 2032-11-15      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| Great Canadian Gaming Corp./Raptor LLC                                          | Great Canadian Gaming Corp./Raptor LLC                                          | CUSIP: YU8653807<br>LEI: 549300FU60SSFLTE0M84 | Long             | DBT              | CORP              | CA        |    200000 | PA      | $203502.40    | 0.10%             | 2029-11-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| goeasy Ltd.                                                                     | goeasy Ltd.                                                                     | CUSIP: ZD1829039<br>LEI: 5493009DJVZG2P8YV435 | Long             | DBT              | CORP              | CA        |    300000 | PA      | $297290.88    | 0.15%             | 2029-07-01      | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| Pampa Energia S.A.                                                              | Pampa Energia S.A.                                                              | CUSIP: YT8725988<br>LEI: 254900QNIK0CVURGML24 | Long             | DBT              | CORP              | AR        |    300000 | PA      | $305940.00    | 0.15%             | 2034-12-16      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| Vista Energy Argentina S.A.U                                                    | Vista Energy Argentina S.A.U                                                    | CUSIP: YT7577786<br>LEI: 549300FE4UJNCG1DB123 | Long             | DBT              | CORP              | AR        |    240000 | PA      | $240480.00    | 0.12%             | 2035-12-10      | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| Global Auto Holdings Ltd./AAG FH UK Ltd.                                        | Global Auto Holdings Ltd./AAG FH UK Ltd.                                        | CUSIP: YT2014710<br>LEI: N/A                  | Long             | DBT              | CORP              | GB        |    200000 | PA      | $212165.00    | 0.11%             | 2029-08-15      | Fixed         | 11.50%                | No            |                  2 | On Loan: No      |
| Iliad Holding                                                                   | Iliad Holding                                                                   | CUSIP: YT3446713<br>LEI: 9695009BGMXB527HV965 | Long             | DBT              | CORP              | FR        |    350000 | PA      | $359173.50    | 0.18%             | 2032-04-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Methanex US Operations Inc.                                                     | Methanex US Operations Inc.                                                     | CUSIP: YT3879897<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    325000 | PA      | $335343.45    | 0.17%             | 2032-03-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Rakuten Group, Inc.                                                             | Rakuten Group, Inc.                                                             | CUSIP: YT6735708<br>LEI: 529900IMXUCQKUL1H943 | Long             | DBT              | CORP              | JP        |    200000 | PA      | $207362.58    | 0.10%             | N/A             | Variable      | 8.12%                 | No            |                  2 | On Loan: No      |
| Vedanta Resources Finance II PLC                                                | Vedanta Resources Finance II PLC                                                | CUSIP: YS5934031<br>LEI: 8945002DGA3BBXO3N634 | Long             | DBT              | CORP              | GB        |    200000 | PA      | $211132.73    | 0.11%             | 2030-07-24      | Fixed         | 9.47%                 | No            |                  2 | On Loan: No      |
| Vedanta Resources Finance II PLC                                                | Vedanta Resources Finance II PLC                                                | CUSIP: YS5934049<br>LEI: 8945002DGA3BBXO3N634 | Long             | DBT              | CORP              | GB        |    400000 | PA      | $431431.31    | 0.22%             | 2033-04-24      | Fixed         | 9.85%                 | No            |                  2 | On Loan: No      |
| Turkcell Iletisim Hizmetleri A.S.                                               | Turkcell Iletisim Hizmetleri A.S.                                               | CUSIP: YS6027645<br>LEI: 7890003EX1LTLS2FFL84 | Long             | DBT              | CORP              | TR        |    200000 | PA      | $209834.66    | 0.10%             | 2030-01-24      | Fixed         | 7.45%                 | No            |                  2 | On Loan: No      |
| Turkcell Iletisim Hizmetleri A.S.                                               | Turkcell Iletisim Hizmetleri A.S.                                               | CUSIP: YS6027652<br>LEI: 7890003EX1LTLS2FFL84 | Long             | DBT              | CORP              | TR        |    200000 | PA      | $212878.88    | 0.11%             | 2032-01-24      | Fixed         | 7.65%                 | No            |                  2 | On Loan: No      |
| Azule Energy Finance PLC                                                        | Azule Energy Finance PLC                                                        | CUSIP: YS6033510<br>LEI: 2138006X6O82RJSQDB63 | Long             | DBT              | CORP              | GB        |    450000 | PA      | $455745.83    | 0.23%             | 2030-01-23      | Fixed         | 8.12%                 | No            |                  2 | On Loan: No      |
| Ivanhoe Mines Ltd.                                                              | Ivanhoe Mines Ltd.                                                              | CUSIP: YS7132774<br>LEI: 5299006XZISURYIA4G32 | Long             | DBT              | CORP              | CA        |    400000 | PA      | $417069.20    | 0.21%             | 2030-01-23      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| Compania de Minas Buenaventura S.A.A.                                           | Compania de Minas Buenaventura S.A.A.                                           | CUSIP: YR1269350<br>LEI: 529900WQB1ZU9KB6EL71 | Long             | DBT              | CORP              | PE        |    250000 | PA      | $260818.84    | 0.13%             | 2032-02-04      | Fixed         | 6.80%                 | No            |                  2 | On Loan: No      |
| Avianca Midco 2 PLC                                                             | Avianca Midco 2 PLC                                                             | CUSIP: YR1272081<br>LEI: N/A                  | Long             | DBT              | CORP              | GB        |    550000 | PA      | $563937.00    | 0.28%             | 2030-02-14      | Fixed         | 9.62%                 | No            |                  2 | On Loan: No      |
| Banco Bradesco S.A.                                                             | Banco Bradesco S.A.                                                             | CUSIP: 05947LBB3<br>LEI: 549300CTUU1RFXHQJE44 | Long             | DBT              | CORP              | KY        |    440000 | PA      | $462193.60    | 0.23%             | 2030-01-22      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Usiminas International Ltd.                                                     | Usiminas International Ltd.                                                     | CUSIP: YS8912604<br>LEI: 529900KLYX6QPXVIVP43 | Long             | DBT              | CORP              | LU        |    200000 | PA      | $207725.38    | 0.10%             | 2032-01-27      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| YPF S.A.                                                                        | YPF S.A.                                                                        | CUSIP: YS5016607<br>LEI: 5493003N7447U18U5U53 | Long             | DBT              | CORP              | AR        |    460000 | PA      | $469454.84    | 0.23%             | 2034-01-17      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| TC Ziraat Bankasi AS                                                            | TC Ziraat Bankasi AS                                                            | CUSIP: YR0372627<br>LEI: 213800K5KTZFSUS8MR51 | Long             | DBT              | CORP              | TR        |    400000 | PA      | $415106.86    | 0.21%             | 2030-02-04      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| Bapco Energies Sukuk Ltd.                                                       | Bapco Energies Sukuk Ltd.                                                       | CUSIP: YS5962081<br>LEI: 54930062R6OFRHBRAI29 | Long             | DBT              | CORP              | KY        |    350000 | PA      | $360538.34    | 0.18%             | 2035-01-29      | Fixed         | 6.25%                 | No            |                  2 | On Loan: —       |
| OTP Bank Nyrt.                                                                  | OTP Bank Nyrt.                                                                  | CUSIP: YS8272330<br>LEI: 529900W3MOO00A18X956 | Long             | DBT              | CORP              | HU        |    400000 | PA      | $421490.28    | 0.21%             | 2035-07-30      | Variable      | 7.30%                 | No            |                  2 | On Loan: No      |
| Efesto Bidco S.p.A.Efesto US LLC                                                | Efesto Bidco S.p.A.Efesto US LLC, Series XR                                     | CUSIP: 28201XAB1<br>LEI: N/A                  | Long             | DBT              | CORP              | IT        |    410000 | PA      | $419218.85    | 0.21%             | 2032-02-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| C&W Senior Finance Ltd.                                                         | C&W Senior Finance Ltd.                                                         | CUSIP: YR3404815<br>LEI: 213800CG16G1YMJRCG10 | Long             | DBT              | CORP              | KY        |    250000 | PA      | $260321.00    | 0.13%             | 2033-01-15      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| Rogers Communications Inc.                                                      | Rogers Communications Inc.                                                      | CUSIP: 775109DG3<br>LEI: 5493000M6Z4XFIP6PF03 | Long             | DBT              | CORP              | CA        |    450000 | PA      | $466974.90    | 0.23%             | 2055-04-15      | Variable      | 7.00%                 | No            |                  2 | On Loan: —       |
| Rogers Communications Inc.                                                      | Rogers Communications Inc.                                                      | CUSIP: 775109DH1<br>LEI: 5493000M6Z4XFIP6PF03 | Long             | DBT              | CORP              | CA        |    410000 | PA      | $430122.50    | 0.21%             | 2055-04-15      | Variable      | 7.12%                 | No            |                  2 | On Loan: —       |
| Bell Canada                                                                     | Bell Canada                                                                     | CUSIP: 0778FPAP4<br>LEI: 5493000G3EFX9S7TDE29 | Long             | DBT              | CORP              | CA        |    410000 | PA      | $425056.43    | 0.21%             | 2055-09-15      | Variable      | 6.88%                 | No            |                  2 | On Loan: No      |
| Bell Canada                                                                     | Bell Canada                                                                     | CUSIP: 0778FPAQ2<br>LEI: 5493000G3EFX9S7TDE29 | Long             | DBT              | CORP              | CA        |    513000 | PA      | $538229.34    | 0.27%             | 2055-09-15      | Variable      | 7.00%                 | No            |                  2 | On Loan: No      |
| Greentown China Holdings Ltd.                                                   | Greentown China Holdings Ltd.                                                   | CUSIP: YR5034735<br>LEI: 529900BLBC6YDNWS8530 | Long             | DBT              | CORP              | KY        |    200000 | PA      | $204867.28    | 0.10%             | 2028-02-24      | Fixed         | 8.45%                 | No            |                  2 | On Loan: No      |
| First Quantum Minerals Ltd.                                                     | First Quantum Minerals Ltd.                                                     | CUSIP: YR6850774<br>LEI: 549300I7UVBGWRYMYZ18 | Long             | DBT              | CORP              | CA        |    550000 | PA      | $590870.97    | 0.30%             | 2033-03-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Itau Unibanco Holding S.A.                                                      | Itau Unibanco Holding S.A.                                                      | CUSIP: 46556W2E9<br>LEI: 5493002W2IVG62O3ZJ94 | Long             | DBT              | CORP              | BR        |    400000 | PA      | $417274.00    | 0.21%             | 2030-02-27      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Akbank Turk A.S.                                                                | Akbank Turk A.S.                                                                | CUSIP: YR8399135<br>LEI: 789000TUMN63Z28TJ497 | Long             | DBT              | CORP              | TR        |    200000 | PA      | $205653.25    | 0.10%             | 2035-09-04      | Variable      | 7.88%                 | No            |                  2 | On Loan: No      |
| Saavi Energia S.a.r.l.                                                          | Saavi Energia S.a.r.l.                                                          | CUSIP: YR2537391<br>LEI: 254900A2V0IO8K56UH35 | Long             | DBT              | CORP              | LU        |    590000 | PA      | $639501.00    | 0.32%             | 2035-02-10      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| Total Play Telecomunicaciones, S.A.P.I. de C.V.                                 | Total Play Telecomunicaciones, S.A.P.I. de C.V.                                 | CUSIP: YR3832791<br>LEI: 4469000001BSAPAMOQ06 | Long             | DBT              | CORP              | MX        |    500000 | PA      | $481250.00    | 0.24%             | 2032-12-31      | Fixed         | 11.12%                | No            |                  2 | On Loan: No      |
| Limak Yenilenebilir Enerji AS                                                   | Limak Yenilenebilir Enerji AS                                                   | CUSIP: YR1215304<br>LEI: 789000WFO2FHRONHFN18 | Long             | DBT              | CORP              | TR        |    200000 | PA      | $198837.05    | 0.10%             | 2030-08-12      | Fixed         | 9.62%                 | No            |                  2 | On Loan: No      |
| Avianca Midco 2 PLC                                                             | Avianca Midco 2 PLC                                                             | CUSIP: YR6469161<br>LEI: N/A                  | Long             | DBT              | CORP              | GB        |    448000 | PA      | $457520.00    | 0.23%             | 2028-12-01      | Fixed         | 9.00%                 | No            |                  2 | On Loan: —       |
| Alpha Star Holding IX Ltd.                                                      | Alpha Star Holding IX Ltd.                                                      | CUSIP: YR5941178<br>LEI: 254900IL2SBV9ANGBE89 | Long             | DBT              | CORP              | AE        |    475000 | PA      | $486565.37    | 0.24%             | 2028-08-26      | Fixed         | 7.00%                 | No            |                  2 | On Loan: —       |
| Yapi Ve Kredi Bankasi A.S.                                                      | Yapi Ve Kredi Bankasi A.S.                                                      | CUSIP: YR7954195<br>LEI: B85ZYWEZ5IZCZ2WNIO12 | Long             | DBT              | CORP              | TR        |    200000 | PA      | $207368.60    | 0.10%             | 2030-03-03      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| Open Text Corp.                                                                 | Open Text Corp.                                                                 | CUSIP: ZP8525187<br>LEI: 549300HP7ONDQODZJV16 | Long             | DBT              | CORP              | CA        |    400000 | PA      | $387482.52    | 0.19%             | 2028-02-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Greenko Wind Projects (Mauritius) Ltd.                                          | Greenko Wind Projects (Mauritius) Ltd.                                          | CUSIP: YQ4738817<br>LEI: 254900MSUXE1FF83DP82 | Long             | DBT              | CORP              | MU        |    400000 | PA      | $409183.07    | 0.20%             | 2028-09-27      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| Seplat Energy PLC                                                               | Seplat Energy PLC                                                               | CUSIP: YQ3939549<br>LEI: 029200711C4S4CB2E982 | Long             | DBT              | CORP              | NG        |    250000 | PA      | $262948.75    | 0.13%             | 2030-03-21      | Fixed         | 9.12%                 | No            |                  2 | On Loan: No      |
| Banco Votorantim S.A.                                                           | Banco Votorantim S.A.                                                           | CUSIP: YQ9289196<br>LEI: X2EUTZGMHS8RBQFIUS93 | Long             | DBT              | CORP              | LU        |    200000 | PA      | $203800.00    | 0.10%             | 2028-04-08      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Petroleos Mexicanos                                                             | Petroleos Mexicanos                                                             | CUSIP: 71654QBE1<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |     50000 | PA      | $38297.50     | 0.02%             | 2044-06-27      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| JSC Uzbekneftegaz                                                               | JSC Uzbekneftegaz                                                               | CUSIP: N/A<br>LEI: 213800LUZJZFLJD4MJ51       | Long             | DBT              | CORP              | UZ        |    300000 | PA      | $325030.88    | 0.16%             | 2030-05-07      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| Omniyat Sukuk 1 Ltd.                                                            | Omniyat Sukuk 1 Ltd.                                                            | CUSIP: YP9308733<br>LEI: 254900RFKE3XFTFFLM58 | Long             | DBT              | CORP              | KY        |    200000 | PA      | $206244.30    | 0.10%             | 2028-05-06      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| Capstone Copper Corp.                                                           | Capstone Copper Corp.                                                           | CUSIP: YQ6003707<br>LEI: 549300III6KGKKC42W63 | Long             | DBT              | CORP              | CA        |    240000 | PA      | $248832.72    | 0.12%             | 2033-03-31      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Forvia SE                                                                       | Forvia SE                                                                       | CUSIP: YQ7178995<br>LEI: 969500F0VMZLK2IULV85 | Long             | DBT              | CORP              | FR        |    200000 | PA      | $213619.88    | 0.11%             | 2030-06-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Opal Bidco SAS                                                                  | Opal Bidco SAS                                                                  | CUSIP: YQ7905835<br>LEI: 969500R96XT7XY2UJ564 | Long             | DBT              | CORP              | FR        |    450000 | PA      | $459477.90    | 0.23%             | 2032-03-31      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Navoiy Kon-Metallurgiya Kombinati Aksiyadorlik Jamiyati                         | Navoiy Kon-Metallurgiya Kombinati Aksiyadorlik Jamiyati                         | CUSIP: N/A<br>LEI: 213800YLNAGERZ4C3M60       | Long             | DBT              | CORP              | UZ        |    200000 | PA      | $211072.80    | 0.11%             | 2030-05-14      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Teva Pharmaceutical Finance Netherlands IV B.V.                                 | Teva Pharmaceutical Finance Netherlands IV B.V.                                 | CUSIP: 881937AA4<br>LEI: 549300GKSD1RG56QRY33 | Long             | DBT              | CORP              | NL        |    280000 | PA      | $290129.28    | 0.14%             | 2030-12-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Teva Pharmaceutical Finance Netherlands III B.V.                                | Teva Pharmaceutical Finance Netherlands III B.V.                                | CUSIP: 88167AAT8<br>LEI: 5493004T21MOAFINJP35 | Long             | DBT              | CORP              | NL        |    200000 | PA      | $209507.20    | 0.10%             | 2032-12-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Endeavour Mining PLC                                                            | Endeavour Mining PLC                                                            | CUSIP: N/A<br>LEI: 529900NI5MXQ91GHXR07       | Long             | DBT              | CORP              | GB        |    200000 | PA      | $206724.96    | 0.10%             | 2030-05-28      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Telecom Argentina S.A.                                                          | Telecom Argentina S.A.                                                          | CUSIP: N/A<br>LEI: 549300MKPIRSJD8SB782       | Long             | DBT              | CORP              | AR        |    430000 | PA      | $454606.32    | 0.23%             | 2033-05-28      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| Pluspetrol S.A.                                                                 | Pluspetrol S.A.                                                                 | CUSIP: N/A<br>LEI: 254900QSCHBUBX6J6H71       | Long             | DBT              | CORP              | AR        |    280000 | PA      | $288159.49    | 0.14%             | 2032-05-30      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| Saturn Oil & Gas Inc.                                                           | Saturn Oil & Gas Inc.                                                           | CUSIP: YX5550711<br>LEI: 549300G6BWJ7K6PIIY73 | Long             | DBT              | CORP              | CA        |    218000 | PA      | $223182.51    | 0.11%             | 2029-06-15      | Fixed         | 9.62%                 | No            |                  2 | On Loan: No      |
| Caixa Economica Federal                                                         | Caixa Economica Federal                                                         | CUSIP: 12804DAA2<br>LEI: 254900EX2KZ57WQ1PL07 | Long             | DBT              | CORP              | BR        |    400000 | PA      | $406002.00    | 0.20%             | 2030-05-13      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Gol Finance Inc.                                                                | Gol Finance Inc.                                                                | CUSIP: N/A<br>LEI: 549300FRXVB8W0960Y03       | Long             | DBT              | CORP              | KY        |    900000 | PA      | $932625.00    | 0.47%             | 2030-06-06      | Fixed         | 14.38%                | No            |                  2 | On Loan: No      |
| Grupo Nutresa S.A.                                                              | Grupo Nutresa S.A.                                                              | CUSIP: N/A<br>LEI: 254900KKAX7B7RJUE255       | Long             | DBT              | CORP              | CO        |    600000 | PA      | $639885.34    | 0.32%             | 2030-05-12      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Grupo Nutresa S.A.                                                              | Grupo Nutresa S.A.                                                              | CUSIP: N/A<br>LEI: 254900KKAX7B7RJUE255       | Long             | DBT              | CORP              | CO        |    600000 | PA      | $670500.00    | 0.33%             | 2035-05-12      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| ams-OSRAM AG                                                                    | ams-OSRAM AG                                                                    | CUSIP: ZG1092292<br>LEI: 5299001JPPT2QFTV5D76 | Long             | DBT              | CORP              | AT        |    320000 | PA      | $341623.36    | 0.17%             | 2029-03-30      | Fixed         | 12.25%                | No            |                  2 | On Loan: No      |
| Toucan FinCo Ltd./Toucan FinCo Can Inc./Toucan FinCo US LLC                     | Toucan FinCo Ltd./Toucan FinCo Can Inc./Toucan FinCo US LLC                     | CUSIP: N/A<br>LEI: N/A                        | Long             | DBT              | CORP              | JE        |    400000 | PA      | $386390.64    | 0.19%             | 2030-05-15      | Fixed         | 9.50%                 | No            |                  2 | On Loan: —       |
| Albion Financing 1 S.a.r.l. / Aggreko Holdings Inc.                             | Albion Financing 1 S.a.r.l. / Aggreko Holdings Inc.                             | CUSIP: N/A<br>LEI: N/A                        | Long             | DBT              | CORP              | LU        |    580000 | PA      | $604868.66    | 0.30%             | 2030-05-21      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Bombardier Inc.                                                                 | Bombardier Inc.                                                                 | CUSIP: N/A<br>LEI: W7L3VLU8EHQY34Z36697       | Long             | DBT              | CORP              | CA        |    320000 | PA      | $336525.44    | 0.17%             | 2033-06-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Trivium Packaging Finance B.V.                                                  | Trivium Packaging Finance B.V.                                                  | CUSIP: N/A<br>LEI: 724500GMZWW3PVYET548       | Long             | DBT              | CORP              | NL        |    257000 | PA      | $274394.79    | 0.14%             | 2030-07-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| Trivium Packaging Finance B.V.                                                  | Trivium Packaging Finance B.V.                                                  | CUSIP: N/A<br>LEI: 724500GMZWW3PVYET548       | Long             | DBT              | CORP              | NL        |    260000 | PA      | $284706.24    | 0.14%             | 2031-01-15      | Fixed         | 12.25%                | No            |                  2 | On Loan: No      |
| Vista Energy Argentina S.A.U                                                    | Vista Energy Argentina S.A.U                                                    | CUSIP: YN1351421<br>LEI: 549300FE4UJNCG1DB123 | Long             | DBT              | CORP              | AR        |    390000 | PA      | $406575.00    | 0.20%             | 2033-06-10      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| CEMEX S.A.B. de C.V.                                                            | CEMEX S.A.B. de C.V.                                                            | CUSIP: YN1351876<br>LEI: 549300RIG2CXWN6IV731 | Long             | DBT              | CORP              | MX        |    420000 | PA      | $440895.00    | 0.22%             | N/A             | Variable      | 7.20%                 | No            |                  2 | On Loan: No      |
| FS Luxembourg S.a.r.l.                                                          | FS Luxembourg S.a.r.l.                                                          | CUSIP: YN3863779<br>LEI: 222100EKR3JUJPGGOY81 | Long             | DBT              | CORP              | LU        |    210000 | PA      | $217268.10    | 0.11%             | 2033-06-25      | Fixed         | 8.62%                 | No            |                  2 | On Loan: No      |
| Banco Macro S.A.                                                                | Banco Macro S.A.                                                                | CUSIP: YN5184976<br>LEI: 579100KKDKKIFEBKK040 | Long             | DBT              | CORP              | AR        |    200000 | PA      | $206500.00    | 0.10%             | 2029-06-23      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Turkiye Ihracat Kredi Bankasi A.S.                                              | Turkiye Ihracat Kredi Bankasi A.S.                                              | CUSIP: YN6472784<br>LEI: 789000JVRVYLAXGDWR11 | Long             | DBT              | NUSS              | TR        |    200000 | PA      | $207079.20    | 0.10%             | 2028-07-03      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Turkiye Garanti Bankasi A.S.                                                    | Turkiye Garanti Bankasi A.S.                                                    | CUSIP: YN6832763<br>LEI: 5493002XSS7K7RHN1V37 | Long             | DBT              | CORP              | TR        |    200000 | PA      | $206483.93    | 0.10%             | 2036-01-08      | Variable      | 8.12%                 | No            |                  2 | On Loan: No      |
| TELUS Corp.                                                                     | TELUS Corp.                                                                     | CUSIP: 87971MCL5<br>LEI: 894500WE70KKZRQMBU11 | Long             | DBT              | CORP              | CA        |    290000 | PA      | $296729.45    | 0.15%             | 2055-10-15      | Variable      | 6.62%                 | No            |                  2 | On Loan: —       |
| TELUS Corp.                                                                     | TELUS Corp.                                                                     | CUSIP: 87971MCM3<br>LEI: 894500WE70KKZRQMBU11 | Long             | DBT              | CORP              | CA        |    330000 | PA      | $345291.12    | 0.17%             | 2055-10-15      | Variable      | 7.00%                 | No            |                  2 | On Loan: —       |
| Dar Al-Arkan Sukuk Co. Ltd.                                                     | Dar Al-Arkan Sukuk Co. Ltd.                                                     | CUSIP: YN6795119<br>LEI: 5493000UYHRBXEIYUQ69 | Long             | DBT              | CORP              | KY        |    300000 | PA      | $306922.21    | 0.15%             | 2030-07-02      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| Yinson Bergenia Production B.V.                                                 | Yinson Bergenia Production B.V.                                                 | CUSIP: YN7849857<br>LEI: 549300JDIAWKPMZD5256 | Long             | DBT              | CORP              | NL        |    480000 | PA      | $522284.90    | 0.26%             | 2045-01-31      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| Trinidad Generation Unlimited                                                   | Trinidad Generation Unlimited                                                   | CUSIP: YN2527466<br>LEI: N/A                  | Long             | DBT              | CORP              | TT        |    230000 | PA      | $241046.90    | 0.12%             | 2033-06-16      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| LATAM Airlines Group S.A.                                                       | LATAM Airlines Group S.A.                                                       | CUSIP: YN7797445<br>LEI: 549300HX3UUDPEFTG707 | Long             | DBT              | CORP              | CL        |    300000 | PA      | $315375.00    | 0.16%             | 2031-01-07      | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| Czechoslovak Group a.s.                                                         | Czechoslovak Group a.s.                                                         | CUSIP: YN6473246<br>LEI: 315700SWFD7G70AVG768 | Long             | DBT              | CORP              | CZ        |    400000 | PA      | $417880.18    | 0.21%             | 2031-01-10      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Axian Telecom Holding and Management Ltd.                                       | Axian Telecom Holding and Management Ltd.                                       | CUSIP: YN7301354<br>LEI: 984500B7DCD97EB04857 | Long             | DBT              | CORP              | AE        |    250000 | PA      | $253641.41    | 0.13%             | 2030-07-11      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| New Flyer Holdings, Inc.                                                        | New Flyer Holdings, Inc.                                                        | CUSIP: N/A<br>LEI: N/A                        | Long             | DBT              | CORP              | US        |    244000 | PA      | $263049.50    | 0.13%             | 2030-07-01      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| SoftBank Group Corp.                                                            | SoftBank Group Corp.                                                            | CUSIP: YN8694278<br>LEI: 5493003BZYYYCDIO0R13 | Long             | DBT              | CORP              | JP        |    200000 | PA      | $199133.03    | 0.10%             | 2031-01-10      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| SoftBank Group Corp.                                                            | SoftBank Group Corp.                                                            | CUSIP: YN8694260<br>LEI: 5493003BZYYYCDIO0R13 | Long             | DBT              | CORP              | JP        |    200000 | PA      | $200650.37    | 0.10%             | 2029-04-10      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Nissan Motor Co., Ltd.                                                          | Nissan Motor Co., Ltd.                                                          | CUSIP: YM2362882<br>LEI: 353800DRBDH1LUTNAY26 | Long             | DBT              | CORP              | JP        |    400000 | PA      | $420349.39    | 0.21%             | 2030-07-17      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Nissan Motor Co., Ltd.                                                          | Nissan Motor Co., Ltd.                                                          | CUSIP: YM2362890<br>LEI: 353800DRBDH1LUTNAY26 | Long             | DBT              | CORP              | JP        |    280000 | PA      | $295757.59    | 0.15%             | 2032-07-17      | Fixed         | 7.75%                 | No            |                  2 | On Loan: —       |
| Kioxia Holdings Corp.                                                           | Kioxia Holdings Corp.                                                           | CUSIP: YM3270068<br>LEI: 35380080RTKRARNH4R73 | Long             | DBT              | CORP              | JP        |    467000 | PA      | $482860.28    | 0.24%             | 2030-07-24      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Kioxia Holdings Corp.                                                           | Kioxia Holdings Corp.                                                           | CUSIP: YM3270076<br>LEI: 35380080RTKRARNH4R73 | Long             | DBT              | CORP              | JP        |    467000 | PA      | $488065.41    | 0.24%             | 2033-07-24      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| Adecoagro S.A.                                                                  | Adecoagro S.A.                                                                  | CUSIP: YM6566470<br>LEI: 529900Q00UR5LFELO811 | Long             | DBT              | CORP              | LU        |    210000 | PA      | $205713.90    | 0.10%             | 2032-07-29      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Digicel International Finance Ltd. / Difl US LLC                                | Digicel International Finance Ltd. / Difl US LLC                                | CUSIP: YM6568278<br>LEI: N/A                  | Long             | DBT              | CORP              | JM        |    840000 | PA      | $873928.44    | 0.44%             | 2032-08-01      | Fixed         | 8.62%                 | No            |                  2 | On Loan: No      |
| Sabesp Lux S.a.r.l.                                                             | Sabesp Lux S.a.r.l.                                                             | CUSIP: YM6958925<br>LEI: 984500C7VFFH4QD3B757 | Long             | DBT              | CORP              | LU        |    210000 | PA      | $210787.50    | 0.11%             | 2030-08-20      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Banco Davivienda S.A.                                                           | Banco Davivienda S.A.                                                           | CUSIP: YN7817649<br>LEI: 549300P161V4IPKAQS70 | Long             | DBT              | CORP              | CO        |    200000 | PA      | $209000.00    | 0.10%             | 2035-07-02      | Variable      | 8.12%                 | No            |                  2 | On Loan: No      |
| Turkiye Vakiflar Bankasi T.A.O.                                                 | Turkiye Vakiflar Bankasi T.A.O.                                                 | CUSIP: YN9222418<br>LEI: 789000KAIHOLSQKQ9858 | Long             | DBT              | CORP              | TR        |    400000 | PA      | $413132.19    | 0.21%             | 2030-07-31      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| SoftBank Group Corp.                                                            | SoftBank Group Corp.                                                            | CUSIP: YN8694286<br>LEI: 5493003BZYYYCDIO0R13 | Long             | DBT              | CORP              | JP        |    250000 | PA      | $251569.15    | 0.13%             | 2032-07-10      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| SoftBank Group Corp.                                                            | SoftBank Group Corp.                                                            | CUSIP: YN8694294<br>LEI: 5493003BZYYYCDIO0R13 | Long             | DBT              | CORP              | JP        |    210000 | PA      | $218308.76    | 0.11%             | 2035-07-10      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Champion Iron Canada Inc.                                                       | Champion Iron Canada Inc.                                                       | CUSIP: YN7417440<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |    210000 | PA      | $224789.67    | 0.11%             | 2032-07-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| Maxam Prill S.a.r.l.                                                            | Maxam Prill S.a.r.l.                                                            | CUSIP: YN6490745<br>LEI: 984500C4C5B820A6B691 | Long             | DBT              | CORP              | LU        |    210000 | PA      | $218896.65    | 0.11%             | 2030-07-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| Nissan Motor Co., Ltd.                                                          | Nissan Motor Co., Ltd.                                                          | CUSIP: YM2362908<br>LEI: 353800DRBDH1LUTNAY26 | Long             | DBT              | CORP              | JP        |    530000 | PA      | $566475.68    | 0.28%             | 2035-07-17      | Fixed         | 8.12%                 | No            |                  2 | On Loan: No      |
| South Bow Canadian infrastructure Holdings Ltd.                                 | South Bow Canadian infrastructure Holdings Ltd.                                 | CUSIP: 836720AJ1<br>LEI: 2549004FYUSYLPBT1G26 | Long             | DBT              | CORP              | CA        |    350000 | PA      | $370200.95    | 0.18%             | 2055-03-01      | Variable      | 7.50%                 | No            |                  2 | On Loan: No      |
| Wynn Macau, Ltd.                                                                | Wynn Macau, Ltd.                                                                | CUSIP: YL1888608<br>LEI: 254900NMDQ8ENTHU1I31 | Long             | DBT              | CORP              | KY        |    550000 | PA      | $557985.26    | 0.28%             | 2034-02-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Muthoot Finance Ltd.                                                            | Muthoot Finance Ltd.                                                            | CUSIP: 62828M2E0<br>LEI: 335800HAMJMBFL4RRF02 | Long             | DBT              | CORP              | IN        |    315000 | PA      | $323358.52    | 0.16%             | 2030-03-02      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| First Quantum Minerals Ltd.                                                     | First Quantum Minerals Ltd.                                                     | CUSIP: YL0629177<br>LEI: 549300I7UVBGWRYMYZ18 | Long             | DBT              | CORP              | CA        |    420000 | PA      | $441559.86    | 0.22%             | 2034-02-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| Binghatti Sukuk 2 SPV Ltd.                                                      | Binghatti Sukuk 2 SPV Ltd.                                                      | CUSIP: YM8093119<br>LEI: 25490089SSHENI4Z8Y98 | Long             | DBT              | CORP              | AE        |    200000 | PA      | $202475.91    | 0.10%             | 2030-08-07      | Fixed         | 8.12%                 | No            |                  2 | On Loan: No      |
| Froneri Lux Finco S.a.r.l.                                                      | Froneri Lux Finco S.a.r.l.                                                      | CUSIP: YM2171192<br>LEI: 9845005YBZ75E5AA3B94 | Long             | DBT              | CORP              | LU        |    250000 | PA      | $253401.53    | 0.13%             | 2032-08-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: —       |
| Petrobras Global Finance B.V.                                                   | Petrobras Global Finance B.V.                                                   | CUSIP: 71647NBN8<br>LEI: 549300FNENFFSMO3GT38 | Long             | DBT              | CORP              | NL        |    350000 | PA      | $344312.50    | 0.17%             | 2036-01-10      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Rede D'Or Finance                                                               | Rede D'Or Finance                                                               | CUSIP: YL9098556<br>LEI: 549300FDE772OLJUCP79 | Long             | DBT              | CORP              | LU        |    200000 | PA      | $204729.95    | 0.10%             | 2035-09-09      | Fixed         | 6.45%                 | No            |                  2 | On Loan: No      |
| Inversiones CMPC S.A.                                                           | Inversiones CMPC S.A.                                                           | CUSIP: YL9099083<br>LEI: 549300G475ACIABB4385 | Long             | DBT              | CORP              | CL        |    250000 | PA      | $253125.00    | 0.13%             | 2057-12-09      | Variable      | 6.70%                 | No            |                  2 | On Loan: No      |
| Petrobras Global Finance B.V.                                                   | Petrobras Global Finance B.V.                                                   | CUSIP: 71647NBM0<br>LEI: 549300FNENFFSMO3GT38 | Long             | DBT              | CORP              | NL        |    350000 | PA      | $346657.50    | 0.17%             | 2030-09-10      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| GC Treasury Center Co., Ltd.                                                    | GC Treasury Center Co., Ltd.                                                    | CUSIP: YL7786962<br>LEI: 549300LUFQBC2EQNAR40 | Long             | DBT              | CORP              | TH        |    210000 | PA      | $215672.08    | 0.11%             | N/A             | Variable      | 7.12%                 | No            |                  2 | On Loan: No      |
| GC Treasury Center Co., Ltd.                                                    | GC Treasury Center Co., Ltd.                                                    | CUSIP: YL8484633<br>LEI: 549300LUFQBC2EQNAR40 | Long             | DBT              | CORP              | TH        |    252000 | PA      | $254731.48    | 0.13%             | N/A             | Variable      | 6.50%                 | No            |                  2 | On Loan: No      |
| Bidvest Group (UK) PLC (The)                                                    | Bidvest Group (UK) PLC (The)                                                    | CUSIP: YL9735405<br>LEI: 984500A80C777F496830 | Long             | DBT              | CORP              | GB        |    210000 | PA      | $214303.95    | 0.11%             | 2032-09-17      | Fixed         | 6.20%                 | No            |                  2 | On Loan: No      |
| ZF North America Capital, Inc.                                                  | ZF North America Capital, Inc.                                                  | CUSIP: YK1437408<br>LEI: 529900JYGMS9CW9IQX78 | Long             | DBT              | CORP              | US        |    650000 | PA      | $666626.35    | 0.33%             | 2031-03-24      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Melco Resorts Finance Ltd.                                                      | Melco Resorts Finance Ltd.                                                      | CUSIP: YK1535391<br>LEI: 5493000FQDBWKDBZEF60 | Long             | DBT              | CORP              | KY        |    200000 | PA      | $199707.24    | 0.10%             | 2033-09-24      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Nickel Industries Ltd.                                                          | Nickel Industries Ltd.                                                          | CUSIP: YK3615696<br>LEI: 54930007K0WX53TSIK16 | Long             | DBT              | CORP              | AU        |    426000 | PA      | $447580.61    | 0.22%             | 2030-09-30      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| Turkiye Is Bankasi A.S.                                                         | Turkiye Is Bankasi A.S.                                                         | CUSIP: YK3285284<br>LEI: 789000FIRX9MDN0KTM91 | Long             | DBT              | CORP              | TR        |    200000 | PA      | $199330.00    | 0.10%             | 2036-04-02      | Variable      | 7.38%                 | No            |                  2 | On Loan: No      |
| Aegea Finance S.a.r.l.                                                          | Aegea Finance S.a.r.l.                                                          | CUSIP: YK4499611<br>LEI: 213800V6WTKUT1XWIZ47 | Long             | DBT              | CORP              | LU        |    315000 | PA      | $308044.78    | 0.15%             | 2036-01-20      | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| Vedanta Resources Finance II PLC                                                | Vedanta Resources Finance II PLC                                                | CUSIP: YK5205074<br>LEI: 8945002DGA3BBXO3N634 | Long             | DBT              | CORP              | GB        |    200000 | PA      | $209656.85    | 0.10%             | 2032-10-15      | Fixed         | 9.12%                 | No            |                  2 | On Loan: No      |
| Energuate Trust 2 0                                                             | Energuate Trust 2 0                                                             | CUSIP: YK0838937<br>LEI: 2549000ZL9MU01FZK194 | Long             | DBT              | CORP              | KY        |    255000 | PA      | $255036.19    | 0.13%             | 2035-09-15      | Fixed         | 6.35%                 | No            |                  2 | On Loan: No      |
| Aydem Yenilenebilir Enerji A.S.                                                 | Aydem Yenilenebilir Enerji A.S.                                                 | CUSIP: YK2522786<br>LEI: 9845009C50EDA74OA532 | Long             | DBT              | CORP              | TR        |    200000 | PA      | $200892.45    | 0.10%             | 2030-09-30      | Fixed         | 9.88%                 | No            |                  2 | On Loan: No      |
| Turkiye Ihracat Kredi Bankasi A.S.                                              | Turkiye Ihracat Kredi Bankasi A.S.                                              | CUSIP: YK2526787<br>LEI: 789000JVRVYLAXGDWR11 | Long             | DBT              | NUSS              | TR        |    200000 | PA      | $200903.05    | 0.10%             | 2030-10-03      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Golar LNG Ltd.                                                                  | Golar LNG Ltd.                                                                  | CUSIP: YK3275681<br>LEI: 213800C2VSFZG3EZLO34 | Long             | DBT              | CORP              | BM        |    200000 | PA      | $200310.60    | 0.10%             | 2030-10-02      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Binghatti Sukuk 2 SPV Ltd.                                                      | Binghatti Sukuk 2 SPV Ltd.                                                      | CUSIP: YK3256319<br>LEI: 25490089SSHENI4Z8Y98 | Long             | DBT              | CORP              | AE        |    200000 | PA      | $199927.08    | 0.10%             | 2029-07-02      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| EUSHI Finance, Inc.                                                             | EUSHI Finance, Inc.                                                             | CUSIP: 29882DAC7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    315000 | PA      | $317080.58    | 0.16%             | 2056-04-01      | Variable      | 6.25%                 | No            |                  2 | On Loan: No      |
| Altice France                                                                   | Altice France                                                                   | CUSIP: YK2679610<br>LEI: 5493001ZMCICV4N02J21 | Long             | DBT              | CORP              | FR        |    345338 | PA      | $339792.98    | 0.17%             | 2030-10-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Altice France                                                                   | Altice France                                                                   | CUSIP: YK2687050<br>LEI: 5493001ZMCICV4N02J21 | Long             | DBT              | CORP              | FR        |    677433 | PA      | $661901.56    | 0.33%             | 2032-07-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| ION Platform Finance US, Inc.                                                   | ION Platform Finance US, Inc.                                                   | CUSIP: YK3678298<br>LEI: 213800FKHT3BRRKMCC89 | Long             | DBT              | CORP              | US        |    617000 | PA      | $541888.95    | 0.27%             | 2032-09-30      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| Altice France Lux 3 / Altice Holdings 1                                         | Altice France Lux 3 / Altice Holdings 1                                         | CUSIP: YK4135959<br>LEI: N/A                  | Long             | DBT              | CORP              | LU        |    394000 | PA      | $381039.41    | 0.19%             | 2033-01-15      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| Prio Luxembourg Holding S.a.r.l.                                                | Prio Luxembourg Holding S.a.r.l.                                                | CUSIP: YK8130329<br>LEI: 2221003VQP4JY7T31H94 | Long             | DBT              | CORP              | LU        |    290000 | PA      | $289202.50    | 0.14%             | 2030-10-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Turkiye Garanti Bankasi A.S.                                                    | Turkiye Garanti Bankasi A.S.                                                    | CUSIP: YK8410481<br>LEI: 5493002XSS7K7RHN1V37 | Long             | DBT              | CORP              | TR        |    290000 | PA      | $292692.20    | 0.15%             | 2036-04-15      | Variable      | 7.62%                 | No            |                  2 | On Loan: No      |
| ION Platform Finance US Inc / ION Platform Finance S.a.r.l.                     | ION Platform Finance US Inc / ION Platform Finance S.a.r.l.                     | CUSIP: YK8523580<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    320000 | PA      | $309059.65    | 0.15%             | 2029-05-30      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| SoftBank Group Corp.                                                            | SoftBank Group Corp.                                                            | CUSIP: YJ4096766<br>LEI: 5493003BZYYYCDIO0R13 | Long             | DBT              | CORP              | JP        |    370000 | PA      | $344954.99    | 0.17%             | 2065-10-29      | Variable      | 8.25%                 | No            |                  2 | On Loan: No      |
| Volcan Compania Minera S.A.A.                                                   | Volcan Compania Minera S.A.A.                                                   | CUSIP: YJ5280849<br>LEI: 549300XKJ91C4SZLG750 | Long             | DBT              | CORP              | PE        |    300000 | PA      | $310995.00    | 0.16%             | 2032-10-28      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| Tecpetrol S A                                                                   | Tecpetrol S A                                                                   | CUSIP: YJ7261144<br>LEI: 529900C0GOV3UC7ZMZ16 | Long             | DBT              | CORP              | AR        |    310000 | PA      | $310635.50    | 0.16%             | 2030-11-03      | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| TT Varlik Kiralama A.S.                                                         | TT Varlik Kiralama A.S.                                                         | CUSIP: YJ3682632<br>LEI: 789000JWDAT89FS8JB90 | Long             | DBT              | CORP              | TR        |    250000 | PA      | $252317.66    | 0.13%             | 2030-10-30      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Turk Telekomunikasyon A.S.                                                      | Turk Telekomunikasyon A.S.                                                      | CUSIP: YK5583694<br>LEI: 789000A2TXOI10JZLF90 | Long             | DBT              | CORP              | TR        |    247000 | PA      | $252241.42    | 0.13%             | 2032-10-07      | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| AL Jawaher Assets Co. Spc                                                       | AL Jawaher Assets Co. Spc                                                       | CUSIP: YJ4104974<br>LEI: 6354007IHCAYDAUAAY02 | Long             | DBT              | CORP              | OM        |    200000 | PA      | $197634.01    | 0.10%             | 2030-10-29      | Fixed         | 4.66%                 | No            |                  2 | On Loan: No      |
| SoftBank Group Corp.                                                            | SoftBank Group Corp.                                                            | CUSIP: YJ4096733<br>LEI: 5493003BZYYYCDIO0R13 | Long             | DBT              | CORP              | JP        |    400000 | PA      | $372434.65    | 0.19%             | 2061-04-29      | Variable      | 7.62%                 | No            |                  2 | On Loan: No      |
| Altice France                                                                   | Altice France                                                                   | CUSIP: YK2686490<br>LEI: 5493001ZMCICV4N02J21 | Long             | DBT              | CORP              | FR        |    826401 | PA      | $807645.83    | 0.40%             | 2032-04-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Mobiliare Latam S.A. / Mobiliare Latam Mexico S.A. de CV                        | Mobiliare Latam S.A. / Mobiliare Latam Mexico S.A. de CV                        | CUSIP: YJ9836679<br>LEI: N/A                  | Long             | DBT              | CORP              | PA        |    200000 | PA      | $198255.00    | 0.10%             | 2032-11-10      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Forvia SE                                                                       | Forvia SE                                                                       | CUSIP: YK1450021<br>LEI: 969500F0VMZLK2IULV85 | Long             | DBT              | CORP              | FR        |    200000 | PA      | $205210.20    | 0.10%             | 2033-09-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Mineral Resources Ltd.                                                          | Mineral Resources Ltd.                                                          | CUSIP: YK3254819<br>LEI: 5299007V1ACKFFX2P066 | Long             | DBT              | CORP              | AU        |    289000 | PA      | $303986.27    | 0.15%             | 2031-04-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| VZ Secured Financing B.V.                                                       | VZ Secured Financing B.V.                                                       | CUSIP: YK5750442<br>LEI: 549300MG611MYCOWY949 | Long             | DBT              | CORP              | NL        |    480000 | PA      | $481794.12    | 0.24%             | 2033-01-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Altice France                                                                   | Altice France                                                                   | CUSIP: YK2675212<br>LEI: 5493001ZMCICV4N02J21 | Long             | DBT              | CORP              | FR        |    557221 | PA      | $572177.97    | 0.29%             | 2029-11-01      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| VMED 02 UK Financing I PLC                                                      | VMED 02 UK Financing I PLC                                                      | CUSIP: YK8155110<br>LEI: 213800MRR46ECNGZ7L69 | Long             | DBT              | CORP              | GB        |    400000 | PA      | $390564.04    | 0.20%             | 2033-01-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Danaos Corp.                                                                    | Danaos Corp.                                                                    | CUSIP: YK8341223<br>LEI: 734IM3DNDNT36T7YTD24 | Long             | DBT              | CORP              | MH        |    200000 | PA      | $206706.40    | 0.10%             | 2032-10-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| ION Platform Finance US Inc / ION Platform Finance S.a.r.l.                     | ION Platform Finance US Inc / ION Platform Finance S.a.r.l.                     | CUSIP: YK8539867<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    288000 | PA      | $274798.31    | 0.14%             | 2029-05-01      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| Ittihad International II Ltd.                                                   | Ittihad International II Ltd.                                                   | CUSIP: YJ9411804<br>LEI: 254900N6645P4DHIXJ30 | Long             | DBT              | CORP              | KY        |    200000 | PA      | $208671.31    | 0.10%             | 2030-11-13      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| SierraCol Energy Andina LLC/SierraCol Energy Arauca/Colombia Energy Development | SierraCol Energy Andina LLC/SierraCol Energy Arauca/Colombia Energy Development | CUSIP: DA1514862<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    270000 | PA      | $270445.50    | 0.14%             | 2030-11-14      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| Transportadora de Gas del Sur S.A.                                              | Transportadora de Gas del Sur S.A.                                              | CUSIP: DA4222323<br>LEI: 5299002TRC7IFQYSW596 | Long             | DBT              | CORP              | AR        |    210000 | PA      | $210888.10    | 0.11%             | 2035-11-20      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| MAF Global Securities Ltd.                                                      | MAF Global Securities Ltd.                                                      | CUSIP: DA3080417<br>LEI: 54930037VUDNYTS17017 | Long             | DBT              | CORP              | KY        |    200000 | PA      | $197609.02    | 0.10%             | N/A             | Variable      | 5.75%                 | No            |                  2 | On Loan: No      |
| Pluspetrol S.A.                                                                 | Pluspetrol S.A.                                                                 | CUSIP: DA3732652<br>LEI: 254900QSCHBUBX6J6H71 | Long             | DBT              | CORP              | AR        |    207000 | PA      | $209846.25    | 0.10%             | 2031-05-18      | Fixed         | 8.12%                 | No            |                  2 | On Loan: No      |
| Garda World Security Corp.                                                      | Garda World Security Corp.                                                      | CUSIP: DA0863476<br>LEI: 549300ZF1NDXLMCHNO20 | Long             | DBT              | CORP              | CA        |    275000 | PA      | $282069.66    | 0.14%             | 2031-01-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Ardagh Group S.A.                                                               | Ardagh Group S.A.                                                               | CUSIP: DA1101371<br>LEI: 6354006L1NWUUOPYX274 | Long             | DBT              | CORP              | LU        |    945000 | PA      | $1021804.88   | 0.51%             | 2030-12-01      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| TELUS Corp.                                                                     | TELUS Corp.                                                                     | CUSIP: 87971MCQ4<br>LEI: 894500WE70KKZRQMBU11 | Long             | DBT              | CORP              | CA        |    350000 | PA      | $353743.25    | 0.18%             | 2056-06-09      | Variable      | 6.38%                 | No            |                  2 | On Loan: No      |
| TELUS Corp.                                                                     | TELUS Corp.                                                                     | CUSIP: 87971MCR2<br>LEI: 894500WE70KKZRQMBU11 | Long             | DBT              | CORP              | CA        |    330000 | PA      | $331581.98    | 0.17%             | 2056-06-09      | Variable      | 6.62%                 | No            |                  2 | On Loan: No      |
| Instituto Costarricense de Electricidad                                         | Instituto Costarricense de Electricidad                                         | CUSIP: EJ6716355<br>LEI: 5493009VA6AFUB2Q0289 | Long             | DBT              | CORP              | CR        |    220000 | PA      | $219087.00    | 0.11%             | 2043-05-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Ecopetrol S.A.                                                                  | Ecopetrol S.A.                                                                  | CUSIP: 279158AE9<br>LEI: 254900IDGKCJICKBPA66 | Long             | DBT              | CORP              | CO        |    208000 | PA      | $191622.56    | 0.10%             | 2043-09-18      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| Petrobras Global Finance B.V.                                                   | Petrobras Global Finance B.V.                                                   | CUSIP: 71647NAK5<br>LEI: 549300FNENFFSMO3GT38 | Long             | DBT              | CORP              | NL        |    296000 | PA      | $307201.89    | 0.15%             | 2044-03-17      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| OCP S.A.                                                                        | OCP S.A.                                                                        | CUSIP: EK1867895<br>LEI: 213800D26TAPVTCVWG40 | Long             | DBT              | CORP              | MA        |    220000 | PA      | $227700.00    | 0.11%             | 2044-04-25      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Ecopetrol S.A.                                                                  | Ecopetrol S.A.                                                                  | CUSIP: 279158AJ8<br>LEI: 254900IDGKCJICKBPA66 | Long             | DBT              | CORP              | CO        |    570000 | PA      | $431100.37    | 0.22%             | 2045-05-28      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Petroleos Mexicanos                                                             | Petroleos Mexicanos                                                             | CUSIP: 71654QBR2<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |     94000 | PA      | $76517.02     | 0.04%             | 2045-01-23      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Teva Pharmaceutical Finance Co., LLC                                            | Teva Pharmaceutical Finance Co., LLC                                            | CUSIP: 88163VAD1<br>LEI: 5493006PITD7MU7WW480 | Long             | DBT              | CORP              | US        |    320000 | PA      | $336916.45    | 0.17%             | 2036-02-01      | Fixed         | 6.15%                 | No            |                  2 | On Loan: No      |
| State Oil Co. of Azerbaijan Republic (The)                                      | State Oil Co. of Azerbaijan Republic (The)                                      | CUSIP: EK7906770<br>LEI: 2549002HARR1VE257O76 | Long             | DBT              | CORP              | AZ        |    340000 | PA      | $367737.26    | 0.18%             | 2030-03-18      | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| Petrobras Global Finance B.V.                                                   | Petrobras Global Finance B.V.                                                   | CUSIP: 71647NAN9<br>LEI: 549300FNENFFSMO3GT38 | Long             | DBT              | CORP              | NL        |    507000 | PA      | $481189.49    | 0.24%             | 2115-06-05      | Fixed         | 6.85%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2026-03-02

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

**Signature:** Adrien Deberghes

**Name of Signer:** Adrien Deberghes

**Title:** Vice President