# EDGAR Filing Document

**Accession Number:** 0001378872
**File Stem:** 0001378872-26-000277
**Filing Date:** 2026-1
**Character Count:** 76580
**Document Hash:** 8626d084f059bc4144ba04c284ca8a00
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001378872-26-000277.hdr.sgml**: 20260128

**ACCESSION NUMBER**: 0001378872-26-000277

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251130

**FILED AS OF DATE**: 20260128

**DATE AS OF CHANGE**: 20260128

**PERIOD START**: 20260831

**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:** 26571899

**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 KBW Regional Banking ETF (Series ID: S000034533)

| Class ID   | Class Name                       | Ticker Symbol   |
|:---|:---|:---|
| C000106125 | Invesco KBW Regional Banking ETF | KBWR            |

## Nport-Ex

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

**Invesco KBW Bank ETF (KBWB)**

November 30, 2025

*(Unaudited)*

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

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Common Stocks & Other Equity Interests-99.83%** | **Common Stocks & Other Equity Interests-99.83%** | **Common Stocks & Other Equity Interests-99.83%** |
| **Asset Management & Custody Banks-11.60%** | **Asset Management & Custody Banks-11.60%** | **Asset Management & Custody Banks-11.60%** |
| Bank of New York Mellon Corp. (The) | 2067010 | &nbsp;&nbsp; $231711821 |
| Northern Trust Corp. | 1448414 | &nbsp;&nbsp; 190234695 |
| State Street Corp. | 1898553 | &nbsp;&nbsp; 225965778 |
|  |  | &nbsp;&nbsp; 647912294 |
| **Consumer Finance-3.77%** | **Consumer Finance-3.77%** | **Consumer Finance-3.77%** |
| Capital One Financial Corp. | 960753 | &nbsp;&nbsp; 210472160 |
| **Diversified Banks-44.11%** | **Diversified Banks-44.11%** | **Diversified Banks-44.11%** |
| Bank of America Corp. | 8604097 | &nbsp;&nbsp; 461609804 |
| Citigroup, Inc. | 2260405 | &nbsp;&nbsp; 234177958 |
| Comerica, Inc.<sup>(b)</sup> | 973530 | &nbsp;&nbsp; 78252341 |
| Fifth Third Bancorp<sup>(b)</sup> | 4769266 | &nbsp;&nbsp; 207272300 |
| JPMorgan Chase & Co. | 1448345 | &nbsp;&nbsp; 453447853 |
| KeyCorp | 8305448 | &nbsp;&nbsp; 152654134 |
| PNC Financial Services Group, Inc. (The) | 1052359 | &nbsp;&nbsp; 200705909 |
| U.S. Bancorp | 4470291 | &nbsp;&nbsp; 219267774 |
| Wells Fargo & Co. | 5312484 | &nbsp;&nbsp; 456076751 |
|  |  | &nbsp;&nbsp; 2463464824 |
| **Investment Banking & Brokerage-17.48%** | **Investment Banking & Brokerage-17.48%** | **Investment Banking & Brokerage-17.48%** |
| Goldman Sachs Group, Inc. (The) | 585839 | &nbsp;&nbsp; 483926448 |
| Morgan Stanley | 2901214 | &nbsp;&nbsp; 492219967 |
|  |  | &nbsp;&nbsp; 976146415 |
| **Regional Banks-22.87%** | **Regional Banks-22.87%** | **Regional Banks-22.87%** |
| Citizens Financial Group, Inc. | 3267168 | &nbsp;&nbsp; 176753789 |
| East West Bancorp, Inc. | 1043943 | &nbsp;&nbsp; 111388718 |
| First Horizon Corp. | 3845862 | &nbsp;&nbsp; 85916557 |
| Huntington Bancshares, Inc.<sup>(b)</sup> | 11103008 | &nbsp;&nbsp; 180979030 |
| M&T Bank Corp. | 1082409 | &nbsp;&nbsp; 205895840 |
| Regions Financial Corp. | 6758555 | &nbsp;&nbsp; 172005225 |
| Truist Financial Corp.<sup>(b)</sup> | 4662280 | &nbsp;&nbsp; 216796020 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Regional Banks-(continued)** | **Regional Banks-(continued)** | **Regional Banks-(continued)** |
| Western Alliance Bancorporation<sup>(b)</sup> | 835924 | &nbsp;&nbsp; $68152884 |
| Zions Bancorporation N.A. | 1118116 | &nbsp;&nbsp; 59517314 |
|  |  | &nbsp;&nbsp; 1277405377 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks & Other Equity Interests <br>(Cost $5,207,465,726) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks & Other Equity Interests <br>(Cost $5,207,465,726) | &nbsp;&nbsp; 5575401070 |
| **Money Market Funds-0.05%** | **Money Market Funds-0.05%** | **Money Market Funds-0.05%** |
| &nbsp;&nbsp;&nbsp; Invesco Government & Agency Portfolio, <br> Institutional Class, 3.91%<sup>(c)(d)</sup> <br>(Cost $2,848,889)<br>| 2848889 | &nbsp;&nbsp; 2848889 |
| &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES <br>(excluding investments purchased with cash collateral <br> from securities on loan)-99.88% <br>(Cost $5,210,314,615) | &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES <br>(excluding investments purchased with cash collateral <br> from securities on loan)-99.88% <br>(Cost $5,210,314,615) | &nbsp;&nbsp; 5578249959 |
| **Investments Purchased with Cash Collateral** <br>**from Securities on Loan** | **Investments Purchased with Cash Collateral** <br>**from Securities on Loan** | **Investments Purchased with Cash Collateral** <br>**from Securities on Loan** |
| **Money Market Funds-1.09%** | **Money Market Funds-1.09%** | **Money Market Funds-1.09%** |
| &nbsp;&nbsp;&nbsp; Invesco Private Government Fund, <br> 4.00%<sup>(c)(d)(e)</sup><br>| 15274139 | &nbsp;&nbsp; 15274139 |
| Invesco Private Prime Fund, 4.12%<sup>(c)(d)(e)</sup> | 45318810 | &nbsp;&nbsp; 45332406 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Investments Purchased with Cash Collateral from <br> Securities on Loan <br>(Cost $60,606,545) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Investments Purchased with Cash Collateral from <br> Securities on Loan <br>(Cost $60,606,545) | &nbsp;&nbsp; 60606545 |
| &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES-100.97% <br>(Cost $5,270,921,160) | &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES-100.97% <br>(Cost $5,270,921,160) | &nbsp;&nbsp; 5638856504 |
| OTHER ASSETS LESS LIABILITIES-(0.97)% | OTHER ASSETS LESS LIABILITIES-(0.97)% | &nbsp;&nbsp; (54245178)<br>|
| NET ASSETS-100.00% | NET ASSETS-100.00% | &nbsp;&nbsp; $5584611326 |

---

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

---

| | |
|:---|:---|
| Notes to Schedule of Investments: | Notes to Schedule of Investments: |
| <sup>(a)</sup> | Industry and/or sector classifications used in this report are generally according to the Global Industry Classification Standard, which was developed by and is <br> the exclusive property and a service mark of MSCI Inc. and Standard & Poor's.<br>|
| <sup>(b)</sup> | All or a portion of this security was out on loan at November 30, 2025. |
| <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 November 30, 2025.<br>|

---

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

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Value** <br>**August 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>**November 30, 2025**<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; $4927604 | &nbsp;&nbsp;&nbsp; $53024458 | &nbsp;&nbsp;&nbsp; $(55103173)<br>| &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $2848889 | &nbsp;&nbsp;&nbsp; $56242 |

---

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

------

**Invesco KBW Bank ETF (KBWB)—(continued)**

November 30, 2025

*(Unaudited)*

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Value**<br> **August 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> **November 30, 2025**<br>| **Dividend Income** |
| **Investments** <br> **Purchased with** <br> **Cash Collateral** <br> **from Securities on** <br> **Loan:**<br>|  |  |  |  |  |  |  |
| &nbsp;&nbsp; Invesco Private <br> Government Fund<br>| &nbsp;&nbsp;&nbsp; $3121444 | &nbsp;&nbsp;&nbsp; $207982189 | &nbsp;&nbsp;&nbsp; $(195829494)<br>| &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $15274139 | &nbsp;&nbsp;&nbsp; $102,310<br> \*<br>|
| &nbsp;&nbsp; Invesco Private <br> Prime Fund<br>| &nbsp;&nbsp;&nbsp; 8108790 | &nbsp;&nbsp;&nbsp; 354713366 | &nbsp;&nbsp;&nbsp; (317489530)<br>| &nbsp;&nbsp;&nbsp; (676)<br>| &nbsp;&nbsp;&nbsp; 456 | &nbsp;&nbsp;&nbsp; 45332406 | &nbsp;&nbsp;&nbsp; 274,728<br> \*<br>|
| &nbsp;&nbsp; Total | &nbsp;&nbsp;&nbsp; $16157838 | &nbsp;&nbsp;&nbsp; $615720013 | &nbsp;&nbsp;&nbsp; $(568422197)<br>| &nbsp;&nbsp;&nbsp; $(676)<br>| &nbsp;&nbsp;&nbsp; $456 | &nbsp;&nbsp;&nbsp; $63455434 | &nbsp;&nbsp;&nbsp; $433280 |

---

&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 November 30, 2025. <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.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Open Futures Contracts**<sup>(a)</sup>  | **Open Futures Contracts**<sup>(a)</sup>  | **Open Futures Contracts**<sup>(a)</sup>  | **Open Futures Contracts**<sup>(a)</sup>  | **Open Futures Contracts**<sup>(a)</sup>  | **Open Futures Contracts**<sup>(a)</sup>  |
| **Long Futures Contracts** | **Number of**<br> **Contracts**<br>| **Expiration**<br> **Month**<br>| **Notional**<br> **Value**<br>| **Value** | **Unrealized**<br> **Appreciation**<br> **(Depreciation)**<br>|
| **Equity Risk** |  |  |  |  |  |
| &nbsp;&nbsp; CME E Mini Financial Select Sector Futures | &nbsp;&nbsp;&nbsp; 59 | December-2025 | &nbsp;&nbsp;&nbsp; $9694585 | &nbsp;&nbsp;&nbsp; $(200586)<br>| &nbsp;&nbsp;&nbsp; $(200586)<br>|

---

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

<sup>(a)</sup> Futures contracts collateralized by $2,283,352 cash held with Morgan Stanley & Co. LLC, the futures commission merchant.

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

------

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

**Invesco KBW High Dividend Yield Financial ETF (KBWD)**

November 30, 2025

*(Unaudited)*

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

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Common Stocks & Other Equity Interests-67.03%** | **Common Stocks & Other Equity Interests-67.03%** | **Common Stocks & Other Equity Interests-67.03%** |
| **Asset Management & Custody Banks-6.77%** | **Asset Management & Custody Banks-6.77%** | **Asset Management & Custody Banks-6.77%** |
| AllianceBernstein Holding L.P. | 197068 | &nbsp;&nbsp; $8140879 |
| &nbsp;&nbsp;&nbsp; Artisan Partners Asset Management, Inc., <br> Class A<br>| 135447 | &nbsp;&nbsp; 5618342 |
| Carlyle Secured Lending, Inc., BDC<sup>(b)</sup> | 830194 | &nbsp;&nbsp; 10501954 |
| Franklin Resources, Inc. | 197421 | &nbsp;&nbsp; 4459740 |
|  |  | &nbsp;&nbsp; 28720915 |
| **Consumer Finance-1.61%** | **Consumer Finance-1.61%** | **Consumer Finance-1.61%** |
| OneMain Holdings, Inc. | 110401 | &nbsp;&nbsp; 6848174 |
| **Life & Health Insurance-2.12%** | **Life & Health Insurance-2.12%** | **Life & Health Insurance-2.12%** |
| Lincoln National Corp. | 99186 | &nbsp;&nbsp; 4080512 |
| Prudential Financial, Inc. | 45603 | &nbsp;&nbsp; 4936525 |
|  |  | &nbsp;&nbsp; 9017037 |
| **Mortgage REITs-44.74%** | **Mortgage REITs-44.74%** | **Mortgage REITs-44.74%** |
| Adamas Trust, Inc. | 1558513 | &nbsp;&nbsp; 11875869 |
| AGNC Investment Corp.<sup>(b)</sup> | 1535180 | &nbsp;&nbsp; 16104038 |
| Annaly Capital Management, Inc. | 633276 | &nbsp;&nbsp; 14438693 |
| Arbor Realty Trust, Inc.<sup>(b)</sup> | 854813 | &nbsp;&nbsp; 7616384 |
| ARMOUR Residential REIT, Inc.<sup>(b)</sup> | 1247779 | &nbsp;&nbsp; 21861088 |
| Dynex Capital, Inc. | 1300790 | &nbsp;&nbsp; 18224068 |
| Ellington Financial, Inc. | 851511 | &nbsp;&nbsp; 11665701 |
| Invesco Mortgage Capital, Inc.<sup>(b)(c)</sup> | 2258508 | &nbsp;&nbsp; 18519766 |
| MFA Financial, Inc. | 1405584 | &nbsp;&nbsp; 13521718 |
| Orchid Island Capital, Inc.<sup>(b)</sup> | 2933928 | &nbsp;&nbsp; 21212299 |
| PennyMac Mortgage Investment Trust<sup>(b)</sup> | 1072264 | &nbsp;&nbsp; 13767870 |
| Ready Capital Corp.<sup>(b)</sup> | 2797999 | &nbsp;&nbsp; 7078937 |
| Two Harbors Investment Corp.<sup>(b)</sup> | 1381132 | &nbsp;&nbsp; 14004678 |
|  |  | &nbsp;&nbsp; 189891109 |
| **Regional Banks-9.16%** | **Regional Banks-9.16%** | **Regional Banks-9.16%** |
| Capitol Federal Financial, Inc. | 822288 | &nbsp;&nbsp; 5435324 |
| First Interstate BancSystem, Inc., Class A | 178330 | &nbsp;&nbsp; 5856357 |
| Flushing Financial Corp. | 471996 | &nbsp;&nbsp; 7745454 |
| Kearny Financial Corp. | 980709 | &nbsp;&nbsp; 6737471 |
| Northwest Bancshares, Inc. | 507697 | &nbsp;&nbsp; 6072056 |
| Washington Trust Bancorp, Inc. | 247285 | &nbsp;&nbsp; 7022894 |
|  |  | &nbsp;&nbsp; 38869556 |
| **Transaction & Payment Processing Services-2.63%** | **Transaction & Payment Processing Services-2.63%** | **Transaction & Payment Processing Services-2.63%** |
| Western Union Co. (The)<sup>(b)</sup> | 1269950 | &nbsp;&nbsp; 11162861 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks & Other Equity Interests <br>(Cost $293,076,580) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks & Other Equity Interests <br>(Cost $293,076,580) | &nbsp;&nbsp; 284509652 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Closed-End Funds-32.74%** | **Closed-End Funds-32.74%** | **Closed-End Funds-32.74%** |
| Barings BDC, Inc. | 1077610 | &nbsp;&nbsp; $9860132 |
| BlackRock TCP Capital Corp., BDC<sup>(b)</sup> | 1953552 | &nbsp;&nbsp; 11721312 |
| CION Investment Corp., BDC | 1253748 | &nbsp;&nbsp; 12738080 |
| Fidus Investment Corp., BDC<sup>(b)</sup> | 499510 | &nbsp;&nbsp; 9845342 |
| FS KKR Capital Corp., BDC | 854683 | &nbsp;&nbsp; 13760396 |
| Goldman Sachs BDC, Inc., BDC | 993240 | &nbsp;&nbsp; 9942332 |
| Main Street Capital Corp.<sup>(b)</sup> | 70717 | &nbsp;&nbsp; 4104415 |
| MidCap Financial Investment Corp., BDC<sup>(b)</sup> | 883234 | &nbsp;&nbsp; 10775455 |
| New Mountain Finance Corp., BDC | 1143910 | &nbsp;&nbsp; 11061610 |
| Oaktree Specialty Lending Corp.<sup>(b)</sup> | 829013 | &nbsp;&nbsp; 11440379 |
| &nbsp;&nbsp;&nbsp; PennantPark Floating Rate Capital Ltd., <br> BDC<sup>(b)</sup><br>| 1184294 | &nbsp;&nbsp; 10859976 |
| &nbsp;&nbsp;&nbsp; PennantPark Investment Corp., BDC <br> (Acquired 12/16/2022 - 09/20/2024; <br> Cost $10,862,006)<sup>(b)(d)</sup><br>| 1836639 | &nbsp;&nbsp; 11148399 |
| Trinity Capital, Inc., BDC<sup>(b)</sup> | 789399 | &nbsp;&nbsp; 11690999 |
|  |  | &nbsp;&nbsp; 138948827 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Closed-End Funds <br>(Cost $150,327,816) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Closed-End Funds <br>(Cost $150,327,816) | &nbsp;&nbsp; 138948827 |
| &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES <br>(excluding investments purchased with cash collateral <br> from securities on loan)-99.77% <br>(Cost $443,404,396) | &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES <br>(excluding investments purchased with cash collateral <br> from securities on loan)-99.77% <br>(Cost $443,404,396) | &nbsp;&nbsp; 423458479 |
| **Investments Purchased with Cash Collateral** <br>**from Securities on Loan** | **Investments Purchased with Cash Collateral** <br>**from Securities on Loan** | **Investments Purchased with Cash Collateral** <br>**from Securities on Loan** |
| **Money Market Funds-18.88%** | **Money Market Funds-18.88%** | **Money Market Funds-18.88%** |
| &nbsp;&nbsp;&nbsp; Invesco Private Government Fund, <br> 4.00%<sup>(c)(e)(f)</sup><br>| 22453024 | &nbsp;&nbsp; 22453024 |
| Invesco Private Prime Fund, 4.12%<sup>(c)(e)(f)</sup> | 57656750 | &nbsp;&nbsp; 57674047 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Investments Purchased with Cash Collateral from <br> Securities on Loan <br>(Cost $80,127,921) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Investments Purchased with Cash Collateral from <br> Securities on Loan <br>(Cost $80,127,921) | &nbsp;&nbsp; 80127071 |
| &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES-118.65% <br>(Cost $523,532,317) | &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES-118.65% <br>(Cost $523,532,317) | &nbsp;&nbsp; 503585550 |
| OTHER ASSETS LESS LIABILITIES-(18.65)% | OTHER ASSETS LESS LIABILITIES-(18.65)% | &nbsp;&nbsp; (79146552)<br>|
| NET ASSETS-100.00% | NET ASSETS-100.00% | &nbsp;&nbsp; $424438998 |

---

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

Investment Abbreviations: <br> BDC -Business Development Company <br> REIT -Real Estate Investment Trust

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

---

| | |
|:---|:---|
| Notes to Schedule of Investments: | Notes to Schedule of Investments: |
| <sup>(a)</sup> | Industry and/or sector classifications used in this report are generally according to the Global Industry Classification Standard, which was developed by and is <br> the exclusive property and a service mark of MSCI Inc. and Standard & Poor's.<br>|
| <sup>(b)</sup> | All or a portion of this security was out on loan at November 30, 2025. |
| <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 November 30, 2025.<br>|

---

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

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Value** <br>**August 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>**(Loss)**<br>| **Value** <br>**November 30, 2025**<br>| **Dividend Income** |
| &nbsp;&nbsp; Invesco Mortgage <br> Capital, Inc.<br>| &nbsp;&nbsp;&nbsp; $17468425 | &nbsp;&nbsp;&nbsp; $421121 | &nbsp;&nbsp;&nbsp; $(240013)<br>| &nbsp;&nbsp;&nbsp; $891811 | &nbsp;&nbsp;&nbsp; $(21578)<br>| &nbsp;&nbsp;&nbsp; $18519766 | &nbsp;&nbsp;&nbsp; $767199 |

---

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

------

**Invesco KBW High Dividend Yield Financial ETF (KBWD)—(continued)**

November 30, 2025

*(Unaudited)*

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Value**<br> **August 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> **(Loss)**<br>| **Value**<br> **November 30, 2025**<br>| **Dividend Income** |
| **Investments in** <br> **Affiliated Money** <br> **Market Funds:**<br>|  |  |  |  |  |  |  |
| &nbsp;&nbsp; Invesco <br> Government & <br> Agency Portfolio, <br> Institutional Class<br>| &nbsp;&nbsp;&nbsp; $719607 | &nbsp;&nbsp;&nbsp; $10133217 | &nbsp;&nbsp;&nbsp; $(10852824)<br>| &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $10946 |
| **Investments** <br> **Purchased with** <br> **Cash Collateral** <br> **from Securities on** <br> **Loan:**<br>|  |  |  |  |  |  |  |
| &nbsp;&nbsp; Invesco Private <br> Government Fund<br>| &nbsp;&nbsp;&nbsp; 19473609 | &nbsp;&nbsp;&nbsp; 58217105 | &nbsp;&nbsp;&nbsp; (55237690)<br>| &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; 22453024 | &nbsp;&nbsp;&nbsp; 163,750<br> \*<br>|
| &nbsp;&nbsp; Invesco Private <br> Prime Fund<br>| &nbsp;&nbsp;&nbsp; 50585881 | &nbsp;&nbsp;&nbsp; 101342814 | &nbsp;&nbsp;&nbsp; (94254957)<br>| &nbsp;&nbsp;&nbsp; (1049)<br>| &nbsp;&nbsp;&nbsp; 1358 | &nbsp;&nbsp;&nbsp; 57674047 | &nbsp;&nbsp;&nbsp; 436,785<br> \*<br>|
| &nbsp;&nbsp; Total | &nbsp;&nbsp;&nbsp; $88247522 | &nbsp;&nbsp;&nbsp; $170114257 | &nbsp;&nbsp;&nbsp; $(160585484)<br>| &nbsp;&nbsp;&nbsp; $890762 | &nbsp;&nbsp;&nbsp; $(20220)<br>| &nbsp;&nbsp;&nbsp; $98646837 | &nbsp;&nbsp;&nbsp; $1378680 |

---

&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> Restricted security. The value of this security at November 30, 2025 represented less than 1% of the Fund's Net Assets.

<sup>(e)</sup> The rate shown is the 7-day SEC standardized yield as of November 30, 2025.

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

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

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

------

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

**Invesco KBW Premium Yield Equity REIT ETF (KBWY)**

November 30, 2025

*(Unaudited)*

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

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Common Stocks & Other Equity Interests-99.94%** | **Common Stocks & Other Equity Interests-99.94%** | **Common Stocks & Other Equity Interests-99.94%** |
| **Diversified REITs-19.92%** | **Diversified REITs-19.92%** | **Diversified REITs-19.92%** |
| Armada Hoffler Properties, Inc.<sup>(b)</sup> | 1360458 | &nbsp;&nbsp; $8938209 |
| Broadstone Net Lease, Inc.<sup>(b)</sup> | 432177 | &nbsp;&nbsp; 7593350 |
| CTO Realty Growth, Inc.<sup>(b)</sup> | 602734 | &nbsp;&nbsp; 10897431 |
| Gladstone Commercial Corp. | 847492 | &nbsp;&nbsp; 9373261 |
| Global Net Lease, Inc.<sup>(b)</sup> | 1567700 | &nbsp;&nbsp; 12870817 |
|  |  | &nbsp;&nbsp; 49673068 |
| **Health Care REITs-19.81%** | **Health Care REITs-19.81%** | **Health Care REITs-19.81%** |
| Community Healthcare Trust, Inc.<sup>(b)</sup> | 1016853 | &nbsp;&nbsp; 15842570 |
| Global Medical REIT, Inc.<sup>(b)</sup> | 274675 | &nbsp;&nbsp; 9110970 |
| Healthcare Realty Trust, Inc.<sup>(b)</sup> | 409195 | &nbsp;&nbsp; 7459625 |
| Omega Healthcare Investors, Inc. | 190406 | &nbsp;&nbsp; 8743443 |
| Sabra Health Care REIT, Inc. | 423076 | &nbsp;&nbsp; 8254213 |
|  |  | &nbsp;&nbsp; 49410821 |
| **Hotel & Resort REITs-11.24%** | **Hotel & Resort REITs-11.24%** | **Hotel & Resort REITs-11.24%** |
| Apple Hospitality REIT, Inc. | 724681 | &nbsp;&nbsp; 8616457 |
| Park Hotels & Resorts, Inc.<sup>(b)</sup> | 885645 | &nbsp;&nbsp; 9582679 |
| RLJ Lodging Trust<sup>(b)</sup> | 1302956 | &nbsp;&nbsp; 9824288 |
|  |  | &nbsp;&nbsp; 28023424 |
| **Industrial REITs-9.28%** | **Industrial REITs-9.28%** | **Industrial REITs-9.28%** |
| Innovative Industrial Properties, Inc.<sup>(b)</sup> | 302459 | &nbsp;&nbsp; 14956598 |
| LXP Industrial Trust<sup>(b)</sup> | 168663 | &nbsp;&nbsp; 8180155 |
|  |  | &nbsp;&nbsp; 23136753 |
| **Multi-Family Residential REITs-2.81%** | **Multi-Family Residential REITs-2.81%** | **Multi-Family Residential REITs-2.81%** |
| NexPoint Residential Trust, Inc. | 220544 | &nbsp;&nbsp; 7015505 |
| **Office REITs-17.07%** | **Office REITs-17.07%** | **Office REITs-17.07%** |
| Brandywine Realty Trust<sup>(b)</sup> | 4224088 | &nbsp;&nbsp; 14488622 |
| Easterly Government Properties, Inc.<sup>(b)</sup> | 442325 | &nbsp;&nbsp; 9642685 |
| Highwoods Properties, Inc.<sup>(b)</sup> | 259025 | &nbsp;&nbsp; 7200895 |
| Kilroy Realty Corp.<sup>(b)</sup> | 160786 | &nbsp;&nbsp; 6896112 |
| Peakstone Realty Trust<sup>(b)</sup> | 318308 | &nbsp;&nbsp; 4351270 |
|  |  | &nbsp;&nbsp; 42579584 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Other Specialized REITs-13.09%** | **Other Specialized REITs-13.09%** | **Other Specialized REITs-13.09%** |
| EPR Properties | 154868 | &nbsp;&nbsp; $8094950 |
| Four Corners Property Trust, Inc.<sup>(b)</sup> | 272762 | &nbsp;&nbsp; 6557199 |
| Gaming and Leisure Properties, Inc. | 174279 | &nbsp;&nbsp; 7586365 |
| Outfront Media, Inc. | 442778 | &nbsp;&nbsp; 10418566 |
|  |  | &nbsp;&nbsp; 32657080 |
| **Retail REITs-3.38%** | **Retail REITs-3.38%** | **Retail REITs-3.38%** |
| Getty Realty Corp.<sup>(b)</sup> | 296139 | &nbsp;&nbsp; 8431077 |
| **Self-Storage REITs-3.34%** | **Self-Storage REITs-3.34%** | **Self-Storage REITs-3.34%** |
| National Storage Affiliates Trust<sup>(b)</sup> | 282604 | &nbsp;&nbsp; 8322688 |
| &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES <br>(excluding investments purchased with cash collateral <br> from securities on loan)-99.94% <br>(Cost $257,030,250) | &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES <br>(excluding investments purchased with cash collateral <br> from securities on loan)-99.94% <br>(Cost $257,030,250) | &nbsp;&nbsp; 249250000 |
| **Investments Purchased with Cash Collateral** <br>**from Securities on Loan** | **Investments Purchased with Cash Collateral** <br>**from Securities on Loan** | **Investments Purchased with Cash Collateral** <br>**from Securities on Loan** |
| **Money Market Funds-21.35%** | **Money Market Funds-21.35%** | **Money Market Funds-21.35%** |
| &nbsp;&nbsp;&nbsp; Invesco Private Government Fund, <br> 4.00%<sup>(c)(d)(e)</sup><br>| 14802205 | &nbsp;&nbsp; 14802205 |
| Invesco Private Prime Fund, 4.12%<sup>(c)(d)(e)</sup> | 38443332 | &nbsp;&nbsp; 38454865 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Investments Purchased with Cash Collateral from <br> Securities on Loan <br>(Cost $53,257,348) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Investments Purchased with Cash Collateral from <br> Securities on Loan <br>(Cost $53,257,348) | &nbsp;&nbsp; 53257070 |
| &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES-121.29% <br>(Cost $310,287,598) | &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES-121.29% <br>(Cost $310,287,598) | &nbsp;&nbsp; 302507070 |
| OTHER ASSETS LESS LIABILITIES-(21.29)% | OTHER ASSETS LESS LIABILITIES-(21.29)% | &nbsp;&nbsp; (53103142)<br>|
| NET ASSETS-100.00% | NET ASSETS-100.00% | &nbsp;&nbsp; $249403928 |

---

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

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

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

---

| | |
|:---|:---|
| Notes to Schedule of Investments: | Notes to Schedule of Investments: |
| <sup>(a)</sup> | Industry and/or sector classifications used in this report are generally according to the Global Industry Classification Standard, which was developed by and is <br> the exclusive property and a service mark of MSCI Inc. and Standard & Poor's.<br>|
| <sup>(b)</sup> | All or a portion of this security was out on loan at November 30, 2025. |
| <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 November 30, 2025.<br>|

---

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

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Value** <br>**August 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>**November 30, 2025**<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; $- | &nbsp;&nbsp;&nbsp; $7239497 | &nbsp;&nbsp;&nbsp; $(7239497)<br>| &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $2733 |

---

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

------

**Invesco KBW Premium Yield Equity REIT ETF (KBWY)—(continued)**

November 30, 2025

*(Unaudited)*

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Value**<br> **August 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> **November 30, 2025**<br>| **Dividend Income** |
| **Investments** <br> **Purchased with** <br> **Cash Collateral** <br> **from Securities on** <br> **Loan:**<br>|  |  |  |  |  |  |  |
| &nbsp;&nbsp; Invesco Private <br> Government Fund<br>| &nbsp;&nbsp;&nbsp; $15446294 | &nbsp;&nbsp;&nbsp; $44744174 | &nbsp;&nbsp;&nbsp; $(45388263)<br>| &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $14802205 | &nbsp;&nbsp;&nbsp; $148,377<br> \*<br>|
| &nbsp;&nbsp; Invesco Private <br> Prime Fund<br>| &nbsp;&nbsp;&nbsp; 40163621 | &nbsp;&nbsp;&nbsp; 101850779 | &nbsp;&nbsp;&nbsp; (103558634)<br>| &nbsp;&nbsp;&nbsp; (3411)<br>| &nbsp;&nbsp;&nbsp; 2510 | &nbsp;&nbsp;&nbsp; 38454865 | &nbsp;&nbsp;&nbsp; 402,599<br> \*<br>|
| &nbsp;&nbsp; Total | &nbsp;&nbsp;&nbsp; $55609915 | &nbsp;&nbsp;&nbsp; $153834450 | &nbsp;&nbsp;&nbsp; $(156186394)<br>| &nbsp;&nbsp;&nbsp; $(3411)<br>| &nbsp;&nbsp;&nbsp; $2510 | &nbsp;&nbsp;&nbsp; $53257070 | &nbsp;&nbsp;&nbsp; $553709 |

---

&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 November 30, 2025. <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<sup>(a)</sup>

**Invesco KBW Property & Casualty Insurance ETF (KBWP)**

November 30, 2025

*(Unaudited)*

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

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Common Stocks & Other Equity Interests-99.72%** | **Common Stocks & Other Equity Interests-99.72%** | **Common Stocks & Other Equity Interests-99.72%** |
| **Multi-line Insurance-1.57%** | **Multi-line Insurance-1.57%** | **Multi-line Insurance-1.57%** |
| Horace Mann Educators Corp. | 141776 | &nbsp;&nbsp; $6490505 |
| **Property & Casualty Insurance-88.33%** | **Property & Casualty Insurance-88.33%** | **Property & Casualty Insurance-88.33%** |
| Allstate Corp. (The) | 158454 | &nbsp;&nbsp; 33747533 |
| American Financial Group, Inc. | 118651 | &nbsp;&nbsp; 16340616 |
| American International Group, Inc. | 396389 | &nbsp;&nbsp; 30188986 |
| Arch Capital Group Ltd.<sup>(b)</sup> | 176111 | &nbsp;&nbsp; 16540345 |
| Assurant, Inc. | 74761 | &nbsp;&nbsp; 17057470 |
| AXIS Capital Holdings Ltd.<sup>(c)</sup> | 163509 | &nbsp;&nbsp; 16717160 |
| Chubb Ltd. | 117185 | &nbsp;&nbsp; 34707853 |
| Cincinnati Financial Corp. | 104933 | &nbsp;&nbsp; 17585722 |
| Hanover Insurance Group, Inc. (The) | 92895 | &nbsp;&nbsp; 17236667 |
| Hartford Insurance Group, Inc. (The) | 121809 | &nbsp;&nbsp; 16691487 |
| James River Group Holdings, Inc. | 159951 | &nbsp;&nbsp; 942112 |
| Kemper Corp. | 218604 | &nbsp;&nbsp; 8901555 |
| Mercury General Corp. | 192974 | &nbsp;&nbsp; 17969739 |
| ProAssurance Corp.<sup>(b)(c)</sup> | 179113 | &nbsp;&nbsp; 4313041 |
| Progressive Corp. (The) | 130472 | &nbsp;&nbsp; 29850689 |
| RLI Corp. | 237949 | &nbsp;&nbsp; 14671935 |
| Selective Insurance Group, Inc. | 206005 | &nbsp;&nbsp; 16183753 |
| Travelers Cos., Inc. (The) | 118699 | &nbsp;&nbsp; 34762189 |
| Universal Insurance Holdings, Inc. | 98664 | &nbsp;&nbsp; 3268738 |
| W.R. Berkley Corp. | 224829 | &nbsp;&nbsp; 17466965 |
|  |  | &nbsp;&nbsp; 365144555 |
| **Reinsurance-9.82%** | **Reinsurance-9.82%** | **Reinsurance-9.82%** |
| Everest Group Ltd. | 47143 | &nbsp;&nbsp; 14816573 |
| RenaissanceRe Holdings Ltd. (Bermuda) | 66316 | &nbsp;&nbsp; 17319750 |
| SiriusPoint Ltd. (Sweden)<sup>(b)</sup> | 406775 | &nbsp;&nbsp; 8460920 |
|  |  | &nbsp;&nbsp; 40597243 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks & Other Equity Interests <br>(Cost $392,123,792) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks & Other Equity Interests <br>(Cost $392,123,792) | &nbsp;&nbsp; 412232303 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Money Market Funds-0.12%** | **Money Market Funds-0.12%** | **Money Market Funds-0.12%** |
| &nbsp;&nbsp;&nbsp; Invesco Government & Agency Portfolio, <br> Institutional Class, 3.91%<sup>(d)(e)</sup> <br>(Cost $493,036)<br>| 493036 | &nbsp;&nbsp; $493036 |
| &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES <br>(excluding investments purchased with cash collateral <br> from securities on loan)-99.84% <br>(Cost $392,616,828) | &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES <br>(excluding investments purchased with cash collateral <br> from securities on loan)-99.84% <br>(Cost $392,616,828) | &nbsp;&nbsp; 412725339 |
| **Investments Purchased with Cash Collateral** <br>**from Securities on Loan** | **Investments Purchased with Cash Collateral** <br>**from Securities on Loan** | **Investments Purchased with Cash Collateral** <br>**from Securities on Loan** |
| **Money Market Funds-0.04%** | **Money Market Funds-0.04%** | **Money Market Funds-0.04%** |
| &nbsp;&nbsp;&nbsp; Invesco Private Prime Fund, 4.12%<sup>(d)(e)(f)</sup> <br>(Cost $146,127)<br>| 146083 | &nbsp;&nbsp; 146127 |
| &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES-99.88% <br>(Cost $392,762,955) | &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES-99.88% <br>(Cost $392,762,955) | &nbsp;&nbsp; 412871466 |
| OTHER ASSETS LESS LIABILITIES-0.12% | OTHER ASSETS LESS LIABILITIES-0.12% | &nbsp;&nbsp; 505507 |
| NET ASSETS-100.00% | NET ASSETS-100.00% | &nbsp;&nbsp; $413376973 |

---

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

---

| | |
|:---|:---|
| Notes to Schedule of Investments: | Notes to Schedule of Investments: |
| <sup>(a)</sup> | Industry and/or sector classifications used in this report are generally according to the Global Industry Classification Standard, which was developed by and is <br> the exclusive property and a service mark of MSCI Inc. and Standard & Poor's.<br>|
| <sup>(b)</sup> | Non-income producing security. |
| <sup>(c)</sup> | All or a portion of this security was out on loan at November 30, 2025. |
| <sup>(d)</sup> | Affiliated holding. Affiliated holdings are investments in entities which are under common ownership or control of Invesco Ltd. or are investments in entities in <br> which the Fund owns 5% or more of the outstanding voting securities. The table below shows the Fund's transactions in, and earnings from, its investments in <br> affiliates for the three months ended November 30, 2025.<br>|

---

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

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Value** <br>**August 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>**(Loss)**<br>| **Value** <br>**November 30, 2025**<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; $331630 | &nbsp;&nbsp;&nbsp; $1128221 | &nbsp;&nbsp;&nbsp; $(966815)<br>| &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $493036 | &nbsp;&nbsp;&nbsp; $3525 |

---

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

------

**Invesco KBW Property & Casualty Insurance ETF (KBWP)—(continued)**

November 30, 2025

*(Unaudited)*

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Value**<br> **August 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> **(Loss)**<br>| **Value**<br> **November 30, 2025**<br>| **Dividend Income** |
| **Investments** <br> **Purchased with Cash** <br> **Collateral from** <br> **Securities on Loan:**<br>|  |  |  |  |  |  |  |
| &nbsp;&nbsp; Invesco Private <br> Government Fund<br>| &nbsp;&nbsp;&nbsp; $946541 | &nbsp;&nbsp;&nbsp; $21654813 | &nbsp;&nbsp;&nbsp; $(22601354)<br>| &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $9,292<br> \*<br>|
| &nbsp;&nbsp; Invesco Private Prime <br> Fund<br>| &nbsp;&nbsp;&nbsp; 2464132 | &nbsp;&nbsp;&nbsp; 55438829 | &nbsp;&nbsp;&nbsp; (57756696)<br>| &nbsp;&nbsp;&nbsp; (55)<br>| &nbsp;&nbsp;&nbsp; (83)<br>| &nbsp;&nbsp;&nbsp; 146127 | &nbsp;&nbsp;&nbsp; 24,794<br> \*<br>|
| &nbsp;&nbsp; Total | &nbsp;&nbsp;&nbsp; $3742303 | &nbsp;&nbsp;&nbsp; $78221863 | &nbsp;&nbsp;&nbsp; $(81324865)<br>| &nbsp;&nbsp;&nbsp; $(55)<br>| &nbsp;&nbsp;&nbsp; $(83)<br>| &nbsp;&nbsp;&nbsp; $639163 | &nbsp;&nbsp;&nbsp; $37611 |

---

&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 November 30, 2025. <br> <sup>(f)</sup> The security has been segregated to satisfy the commitment to return the cash collateral received in securities lending transactions upon the borrower's return of the securities loaned.

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

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

------

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

**Invesco KBW Regional Banking ETF (KBWR)**

November 30, 2025

*(Unaudited)*

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

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Common Stocks & Other Equity Interests-99.84%** | **Common Stocks & Other Equity Interests-99.84%** | **Common Stocks & Other Equity Interests-99.84%** |
| **Regional Banks-99.84%** | **Regional Banks-99.84%** | **Regional Banks-99.84%** |
| Ameris Bancorp | 14294 | &nbsp;&nbsp; $1082913 |
| Associated Banc-Corp | 38789 | &nbsp;&nbsp; 1019763 |
| Atlantic Union Bankshares Corp., Class B | 29294 | &nbsp;&nbsp; 991016 |
| Banc of California, Inc. | 41723 | &nbsp;&nbsp; 769372 |
| Bank of Hawaii Corp. | 11256 | &nbsp;&nbsp; 737718 |
| Bank OZK | 19950 | &nbsp;&nbsp; 918099 |
| BankUnited, Inc. | 21283 | &nbsp;&nbsp; 919638 |
| BOK Financial Corp.<sup>(b)</sup> | 9390 | &nbsp;&nbsp; 1057502 |
| Cadence Bank | 27829 | &nbsp;&nbsp; 1108707 |
| Cathay General Bancorp | 19549 | &nbsp;&nbsp; 946954 |
| Columbia Banking System, Inc. | 55659 | &nbsp;&nbsp; 1542867 |
| Commerce Bancshares, Inc. | 16900 | &nbsp;&nbsp; 911079 |
| Community Financial System, Inc. | 14958 | &nbsp;&nbsp; 849016 |
| Cullen/Frost Bankers, Inc. | 8112 | &nbsp;&nbsp; 1003617 |
| CVB Financial Corp. | 39034 | &nbsp;&nbsp; 768189 |
| Eastern Bankshares, Inc. | 59879 | &nbsp;&nbsp; 1127522 |
| F.N.B. Corp. | 62754 | &nbsp;&nbsp; 1044227 |
| First Bancorp | 45402 | &nbsp;&nbsp; 897598 |
| First Commonwealth Financial Corp. | 29530 | &nbsp;&nbsp; 479862 |
| First Financial Bancorp | 27109 | &nbsp;&nbsp; 674472 |
| First Financial Bankshares, Inc. | 28163 | &nbsp;&nbsp; 879812 |
| First Hawaiian, Inc. | 35264 | &nbsp;&nbsp; 878779 |
| First Interstate BancSystem, Inc., Class A | 29652 | &nbsp;&nbsp; 973772 |
| Flagstar Bank N.A | 81653 | &nbsp;&nbsp; 999433 |
| Fulton Financial Corp. | 51525 | &nbsp;&nbsp; 935179 |
| Glacier Bancorp, Inc. | 21298 | &nbsp;&nbsp; 900905 |
| Hancock Whitney Corp. | 16627 | &nbsp;&nbsp; 1007430 |
| Home BancShares, Inc. | 35159 | &nbsp;&nbsp; 986562 |
| Hope Bancorp, Inc. | 36208 | &nbsp;&nbsp; 384529 |
| Independent Bank Corp.<sup>(b)</sup> | 14115 | &nbsp;&nbsp; 1016986 |
| Old National Bancorp | 81384 | &nbsp;&nbsp; 1768474 |
| Pinnacle Financial Partners, Inc. | 10761 | &nbsp;&nbsp; 986568 |
| Popular, Inc. | 8331 | &nbsp;&nbsp; 955649 |
| Prosperity Bancshares, Inc. | 15151 | &nbsp;&nbsp; 1041025 |
| Provident Financial Services, Inc. | 37005 | &nbsp;&nbsp; 709756 |
| Renasant Corp. | 26750 | &nbsp;&nbsp; 948020 |
| Simmons First National Corp., Class A | 40957 | &nbsp;&nbsp; 759752 |
| SouthState Bank Corp. | 20524 | &nbsp;&nbsp; 1837103 |
| Synovus Financial Corp. | 20282 | &nbsp;&nbsp; 977592 |
| Texas Capital Bancshares, Inc.<sup>(c)</sup> | 12100 | &nbsp;&nbsp; 1091057 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Regional Banks-(continued)** | **Regional Banks-(continued)** | **Regional Banks-(continued)** |
| Trustmark Corp. | 17091 | &nbsp;&nbsp; $664840 |
| UMB Financial Corp. | 15769 | &nbsp;&nbsp; 1751620 |
| United Bankshares, Inc. | 27286 | &nbsp;&nbsp; 1016131 |
| United Community Banks, Inc. | 31323 | &nbsp;&nbsp; 957231 |
| Valley National Bancorp | 100184 | &nbsp;&nbsp; 1134083 |
| WaFd, Inc. | 22319 | &nbsp;&nbsp; 706620 |
| Webster Financial Corp. | 33665 | &nbsp;&nbsp; 2006434 |
| WesBanco, Inc. | 27163 | &nbsp;&nbsp; 876550 |
| Wintrust Financial Corp. | 13907 | &nbsp;&nbsp; 1863816 |
| WSFS Financial Corp. | 15836 | &nbsp;&nbsp; 883807 |
|  |  | &nbsp;&nbsp; 50749646 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks & Other Equity Interests <br>(Cost $50,659,599) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks & Other Equity Interests <br>(Cost $50,659,599) | &nbsp;&nbsp; 50749646 |
| **Money Market Funds-0.08%** | **Money Market Funds-0.08%** | **Money Market Funds-0.08%** |
| &nbsp;&nbsp;&nbsp; Invesco Government & Agency Portfolio, <br> Institutional Class, 3.91%<sup>(d)(e)</sup> <br>(Cost $38,621)<br>| 38621 | &nbsp;&nbsp; 38621 |
| &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES <br>(excluding investments purchased with cash collateral from <br> securities on loan)-99.92% <br>(Cost $50,698,220) | &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES <br>(excluding investments purchased with cash collateral from <br> securities on loan)-99.92% <br>(Cost $50,698,220) | &nbsp;&nbsp; 50788267 |
| **Investments Purchased with Cash Collateral** <br>**from Securities on Loan** | **Investments Purchased with Cash Collateral** <br>**from Securities on Loan** | **Investments Purchased with Cash Collateral** <br>**from Securities on Loan** |
| **Money Market Funds-3.33%** | **Money Market Funds-3.33%** | **Money Market Funds-3.33%** |
| &nbsp;&nbsp;&nbsp; Invesco Private Government Fund, <br> 4.00%<sup>(d)(e)(f)</sup><br>| 474946 | &nbsp;&nbsp; 474946 |
| Invesco Private Prime Fund, 4.12%<sup>(d)(e)(f)</sup> | 1218861 | &nbsp;&nbsp; 1219227 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Investments Purchased with Cash Collateral from <br> Securities on Loan <br>(Cost $1,694,173) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Investments Purchased with Cash Collateral from <br> Securities on Loan <br>(Cost $1,694,173) | &nbsp;&nbsp; 1694173 |
| &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES-103.25% <br>(Cost $52,392,393) | &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES-103.25% <br>(Cost $52,392,393) | &nbsp;&nbsp; 52482440 |
| OTHER ASSETS LESS LIABILITIES-(3.25)% | OTHER ASSETS LESS LIABILITIES-(3.25)% | &nbsp;&nbsp; (1650307)<br>|
| NET ASSETS-100.00% | NET ASSETS-100.00% | &nbsp;&nbsp; $50832133 |

---

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

---

| | |
|:---|:---|
| Notes to Schedule of Investments: | Notes to Schedule of Investments: |
| <sup>(a)</sup> | Industry and/or sector classifications used in this report are generally according to the Global Industry Classification Standard, which was developed by and is <br> the exclusive property and a service mark of MSCI Inc. and Standard & Poor's.<br>|
| <sup>(b)</sup> | All or a portion of this security was out on loan at November 30, 2025. |
| <sup>(c)</sup> | Non-income producing security. |
| <sup>(d)</sup> | Affiliated holding. Affiliated holdings are investments in entities which are under common ownership or control of Invesco Ltd. or are investments in entities in <br> which the Fund owns 5% or more of the outstanding voting securities. The table below shows the Fund's transactions in, and earnings from, its investments in <br> affiliates for the three months ended November 30, 2025.<br>|

---

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

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Value** <br>**August 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>**November 30, 2025**<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; $29546 | &nbsp;&nbsp;&nbsp; $406528 | &nbsp;&nbsp;&nbsp; $(397453)<br>| &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $38621 | &nbsp;&nbsp;&nbsp; $368 |

---

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

------

**Invesco KBW Regional Banking ETF (KBWR)—(continued)**

November 30, 2025

*(Unaudited)*

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Value**<br> **August 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> **November 30, 2025**<br>| **Dividend Income** |
| **Investments** <br> **Purchased with Cash** <br> **Collateral from** <br> **Securities on Loan:**<br>|  |  |  |  |  |  |  |
| &nbsp;&nbsp; Invesco Private <br> Government Fund<br>| &nbsp;&nbsp;&nbsp; $1664981 | &nbsp;&nbsp;&nbsp; $6712992 | &nbsp;&nbsp;&nbsp; $(7903027)<br>| &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $474946 | &nbsp;&nbsp;&nbsp; $15,751<br> \*<br>|
| &nbsp;&nbsp; Invesco Private Prime <br> Fund<br>| &nbsp;&nbsp;&nbsp; 4333803 | &nbsp;&nbsp;&nbsp; 16324284 | &nbsp;&nbsp;&nbsp; (19438798)<br>| &nbsp;&nbsp;&nbsp; (89)<br>| &nbsp;&nbsp;&nbsp; 27 | &nbsp;&nbsp;&nbsp; 1219227 | &nbsp;&nbsp;&nbsp; 42,805<br> \*<br>|
| &nbsp;&nbsp; Total | &nbsp;&nbsp;&nbsp; $6028330 | &nbsp;&nbsp;&nbsp; $23443804 | &nbsp;&nbsp;&nbsp; $(27739278)<br>| &nbsp;&nbsp;&nbsp; $(89)<br>| &nbsp;&nbsp;&nbsp; $27 | &nbsp;&nbsp;&nbsp; $1732794 | &nbsp;&nbsp;&nbsp; $58924 |

---

&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 November 30, 2025. <br> <sup>(f)</sup> The security has been segregated to satisfy the commitment to return the cash collateral received in securities lending transactions upon the borrower's return of the securities loaned.

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

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

------

**Notes to Quarterly Schedules of Portfolio Holdings**

November 30, 2025

*(Unaudited)*

**NOTE 1—Additional Valuation Information**

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

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

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

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

The following is a summary of the tiered valuation input levels, as of November 30, 2025. The level assigned to the securities valuations may not be an indication of the risk or liquidity associated with investing in those securities. Because of the inherent uncertainties of valuation, the values reflected in the financial statements may materially differ from the value received upon actual sale of those investments.

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Level 1** | **Level 2** | **Level 3** | **Total** |
| &nbsp;&nbsp; Invesco KBW Bank ETF |  |  |  |  |
| **Investments in Securities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Common Stocks & Other Equity Interests | &nbsp;&nbsp;&nbsp; $5575401070 | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $5575401070 |
| &nbsp;&nbsp;&nbsp; Money Market Funds | &nbsp;&nbsp;&nbsp; 2848889 | &nbsp;&nbsp;&nbsp; 60606545 | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; 63455434 |
| **Total Investments in Securities** | &nbsp;&nbsp;&nbsp; 5578249959 | &nbsp;&nbsp;&nbsp; 60606545 | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; 5638856504 |
| **Other Investments - Liabilities\*** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Futures Contracts | &nbsp;&nbsp;&nbsp; (200586)<br>| &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; (200586)<br>|
| **Total Investments** | &nbsp;&nbsp;&nbsp; $5578049373 | &nbsp;&nbsp;&nbsp; $60606545 | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $5638655918 |
| &nbsp;&nbsp; Invesco KBW High Dividend Yield Financial ETF |  |  |  |  |
| **Investments in Securities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Common Stocks & Other Equity Interests | &nbsp;&nbsp;&nbsp; $284509652 | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $284509652 |
| &nbsp;&nbsp;&nbsp; Closed-End Funds | &nbsp;&nbsp;&nbsp; 138948827 | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; 138948827 |
| &nbsp;&nbsp;&nbsp; Money Market Funds | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; 80127071 | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; 80127071 |
| **Total Investments** | &nbsp;&nbsp;&nbsp; $423458479 | &nbsp;&nbsp;&nbsp; $80127071 | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $503585550 |
| &nbsp;&nbsp; Invesco KBW Premium Yield Equity REIT ETF |  |  |  |  |
| **Investments in Securities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Common Stocks & Other Equity Interests | &nbsp;&nbsp;&nbsp; $249250000 | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $249250000 |
| &nbsp;&nbsp;&nbsp; Money Market Funds | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; 53257070 | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; 53257070 |
| **Total Investments** | &nbsp;&nbsp;&nbsp; $249250000 | &nbsp;&nbsp;&nbsp; $53257070 | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $302507070 |
| &nbsp;&nbsp; Invesco KBW Property & Casualty Insurance ETF |  |  |  |  |
| **Investments in Securities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Common Stocks & Other Equity Interests | &nbsp;&nbsp;&nbsp; $412232303 | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $412232303 |
| &nbsp;&nbsp;&nbsp; Money Market Funds | &nbsp;&nbsp;&nbsp; 493036 | &nbsp;&nbsp;&nbsp; 146127 | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; 639163 |
| **Total Investments** | &nbsp;&nbsp;&nbsp; $412725339 | &nbsp;&nbsp;&nbsp; $146127 | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $412871466 |

---

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Level 1** | **Level 2** | **Level 3** | **Total** |
| &nbsp;&nbsp; Invesco KBW Regional Banking ETF |  |  |  |  |
| **Investments in Securities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Common Stocks & Other Equity Interests | &nbsp;&nbsp;&nbsp; $50749646 | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $50749646 |
| &nbsp;&nbsp;&nbsp; Money Market Funds | &nbsp;&nbsp;&nbsp; 38621 | &nbsp;&nbsp;&nbsp; 1694173 | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; 1732794 |
| **Total Investments** | &nbsp;&nbsp;&nbsp; $50788267 | &nbsp;&nbsp;&nbsp; $1694173 | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $52482440 |

---

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

\* Unrealized appreciation (depreciation).

------

## 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 KBW Regional Banking ETF

- **b. EDGAR series identifier (if any):** S000034533

- **c. LEI of Series:** 54930037GWNXUQEJST75

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

- **a. Date of fiscal year-end:** 2026-08-31

- **b. Date as of which information is reported:** 2025-11-30

**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:** $52540616.62

**Total Liabilities:** $1708483.26

**Net Assets:** $50832133.36

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000106125 | -2.90%               | -5.19%               | 5.12%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-401033.20              | $-752738.48                                |
| Month 2  | $15215.55                | $-2725475.29                               |
| Month 3  | $66985.88                | $2283864.56                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Hope Bancorp, Inc.                    | Hope Bancorp, Inc.                                         | CUSIP: 43940T109<br>LEI: 549300UTF4QGMBHIZ219 | Long             | EC               | CORP              | US        |     36208 | NS      | $384528.96    | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| First Hawaiian, Inc.                  | First Hawaiian, Inc.                                       | CUSIP: 32051X108<br>LEI: 5493002DJSH46F5OLV06 | Long             | EC               | CORP              | US        |     35264 | NS      | $878778.88    | 1.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Associated Banc-Corp                  | Associated Banc-Corp                                       | CUSIP: 045487105<br>LEI: 549300N3CIN473IW5094 | Long             | EC               | CORP              | US        |     38789 | NS      | $1019762.81   | 2.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Commerce Bancshares, Inc.             | Commerce Bancshares, Inc.                                  | CUSIP: 200525103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     16900 | NS      | $911079.00    | 1.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Fulton Financial Corp.                | Fulton Financial Corp.                                     | CUSIP: 360271100<br>LEI: 5493005QLZ6O1BNC0C11 | Long             | EC               | CORP              | US        |     51525 | NS      | $935178.75    | 1.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Valley National Bancorp               | Valley National Bancorp                                    | CUSIP: 919794107<br>LEI: 549300ET52S1UBIB9762 | Long             | EC               | CORP              | US        |    100184 | NS      | $1134082.88   | 2.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank OZK                              | Bank OZK                                                   | CUSIP: 06417N103<br>LEI: 549300VYK2WBD7SST478 | Long             | EC               | CORP              | US        |     19950 | NS      | $918099.00    | 1.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Webster Financial Corp.               | Webster Financial Corp.                                    | CUSIP: 947890109<br>LEI: KMRURHT0VWKYS6Z5KU67 | Long             | EC               | CORP              | US        |     33665 | NS      | $2006434.00   | 3.95%             |  |  |  | No            |                  1 | On Loan: No      |
| WaFd, Inc.                            | WaFd, Inc.                                                 | CUSIP: 938824109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     22319 | NS      | $706619.54    | 1.39%             |  |  |  | No            |                  1 | On Loan: No      |
| BOK Financial Corp.                   | BOK Financial Corp.                                        | CUSIP: 05561Q201<br>LEI: GRI2NT5QHYW751NMR949 | Long             | EC               | CORP              | US        |      9390 | NS      | $1057501.80   | 2.08%             |  |  |  | No            |                  1 | On Loan: —       |
| Old National Bancorp                  | Old National Bancorp                                       | CUSIP: 680033107<br>LEI: 549300MMK90CL5KMVX16 | Long             | EC               | CORP              | US        |     81384 | NS      | $1768474.32   | 3.48%             |  |  |  | No            |                  1 | On Loan: No      |
| UMB Financial Corp.                   | UMB Financial Corp.                                        | CUSIP: 902788108<br>LEI: 549300MGEH3N3CUCV828 | Long             | EC               | CORP              | US        |     15769 | NS      | $1751620.52   | 3.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Cathay General Bancorp                | Cathay General Bancorp                                     | CUSIP: 149150104<br>LEI: 549300K1SLJ8C97H5L68 | Long             | EC               | CORP              | US        |     19549 | NS      | $946953.56    | 1.86%             |  |  |  | No            |                  1 | On Loan: No      |
| CVB Financial Corp.                   | CVB Financial Corp.                                        | CUSIP: 126600105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     39034 | NS      | $768189.12    | 1.51%             |  |  |  | No            |                  1 | On Loan: No      |
| F.N.B. Corp.                          | F.N.B. Corp.                                               | CUSIP: 302520101<br>LEI: PCYSKIGYNYFDTBLVZU83 | Long             | EC               | CORP              | US        |     62754 | NS      | $1044226.56   | 2.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Prosperity Bancshares, Inc.           | Prosperity Bancshares, Inc.                                | CUSIP: 743606105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     15151 | NS      | $1041025.21   | 2.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank of Hawaii Corp.                  | Bank of Hawaii Corp.                                       | CUSIP: 062540109<br>LEI: 5493006Q8BQ8AD8M2U33 | Long             | EC               | CORP              | US        |     11256 | NS      | $737718.24    | 1.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Atlantic Union Bankshares Corp.       | Atlantic Union Bankshares Corp., Class B                   | CUSIP: 04911A107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     29294 | NS      | $991016.02    | 1.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Wintrust Financial Corp.              | Wintrust Financial Corp.                                   | CUSIP: 97650W108<br>LEI: Q774KI4AW80FHFW33O61 | Long             | EC               | CORP              | US        |     13907 | NS      | $1863816.14   | 3.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Provident Financial Services, Inc.    | Provident Financial Services, Inc.                         | CUSIP: 74386T105<br>LEI: 529900JOSO3SXEDVE477 | Long             | EC               | CORP              | US        |     37005 | NS      | $709755.90    | 1.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Pinnacle Financial Partners, Inc.     | Pinnacle Financial Partners, Inc.                          | CUSIP: 72346Q104<br>LEI: 54930098EZ8JMSAZGS24 | Long             | EC               | CORP              | US        |     10761 | NS      | $986568.48    | 1.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Invesco Government & Agency Portfolio | Invesco Government & Agency Portfolio, Institutional Class | CUSIP: 825252885<br>LEI: 5493007T1J7WZ5QI1A47 | Long             | STIV             | RF                | US        |     38621 | NS      | $38620.81     | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| First BanCorp.                        | First BanCorp.                                             | CUSIP: 318672706<br>LEI: 5493000C44WC17AV1S09 | Long             | EC               | CORP              | PR        |     45402 | NS      | $897597.54    | 1.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Cullen/Frost Bankers, Inc.            | Cullen/Frost Bankers, Inc.                                 | CUSIP: 229899109<br>LEI: 529900V2E9G9AY665O34 | Long             | EC               | CORP              | US        |      8112 | NS      | $1003616.64   | 1.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Invesco Private Government Fund       | Invesco Private Government Fund                            | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             | PF                | US        |    474946 | NS      | $474946.19    | 0.93%             |  |  |  | No            |                  2 | On Loan: No      |
| Invesco Private Prime Fund            | Invesco Private Prime Fund                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             | PF                | US        |   1219227 | NS      | $1219226.66   | 2.40%             |  |  |  | No            |                  2 | On Loan: No      |
| Eastern Bankshares, Inc.              | Eastern Bankshares, Inc.                                   | CUSIP: 27627N105<br>LEI: 549300J245MBQU3DO403 | Long             | EC               | CORP              | US        |     59879 | NS      | $1127521.57   | 2.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Cadence Bank                          | Cadence Bank                                               | CUSIP: 12740C103<br>LEI: Q7C315HKI8VX0SSKBS64 | Long             | EC               | CORP              | US        |     27829 | NS      | $1108707.36   | 2.18%             |  |  |  | No            |                  1 | On Loan: No      |
| First Interstate BancSystem, Inc.     | First Interstate BancSystem, Inc., Class A                 | CUSIP: 32055Y201<br>LEI: 549300WRWYTYX0RCNJ43 | Long             | EC               | CORP              | US        |     29652 | NS      | $973771.68    | 1.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Hancock Whitney Corp.                 | Hancock Whitney Corp.                                      | CUSIP: 410120109<br>LEI: 549300GRNBWY8HIICT41 | Long             | EC               | CORP              | US        |     16627 | NS      | $1007429.93   | 1.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Columbia Banking System, Inc.         | Columbia Banking System, Inc.                              | CUSIP: 197236102<br>LEI: 254900CTRJTQZ3BJ2V17 | Long             | EC               | CORP              | US        |     55659 | NS      | $1542867.48   | 3.04%             |  |  |  | No            |                  1 | On Loan: No      |
| BankUnited, Inc.                      | BankUnited, Inc.                                           | CUSIP: 06652K103<br>LEI: 96OVUWEW5D4YX6PFXD91 | Long             | EC               | CORP              | US        |     21283 | NS      | $919638.43    | 1.81%             |  |  |  | No            |                  1 | On Loan: No      |
| United Community Banks, Inc.          | United Community Banks, Inc.                               | CUSIP: 90984P303<br>LEI: 549300GVW0FV66X3U703 | Long             | EC               | CORP              | US        |     31323 | NS      | $957230.88    | 1.88%             |  |  |  | No            |                  1 | On Loan: No      |
| First Financial Bankshares, Inc.      | First Financial Bankshares, Inc.                           | CUSIP: 32020R109<br>LEI: 549300XN3GTGOENGNV49 | Long             | EC               | CORP              | US        |     28163 | NS      | $879812.12    | 1.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Flagstar Bank, N.A                    | Flagstar Bank, N.A                                         | CUSIP: 649445400<br>LEI: SS1TRMSN6BRNMOREEV51 | Long             | EC               | CORP              | US        |     81653 | NS      | $999432.72    | 1.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Texas Capital Bancshares, Inc.        | Texas Capital Bancshares, Inc.                             | CUSIP: 88224Q107<br>LEI: 549300466Q2SXRX0YM48 | Long             | EC               | CORP              | US        |     12100 | NS      | $1091057.00   | 2.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Popular, Inc.                         | Popular, Inc.                                              | CUSIP: 733174700<br>LEI: 5493008CARDZMVQ3LO89 | Long             | EC               | CORP              | PR        |      8331 | NS      | $955649.01    | 1.88%             |  |  |  | No            |                  1 | On Loan: No      |
| SouthState Bank Corp.                 | SouthState Bank Corp.                                      | CUSIP: 84472E102<br>LEI: 549300JZUANXM0YQ4W53 | Long             | EC               | CORP              | US        |     20524 | NS      | $1837103.24   | 3.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Banc of California, Inc.              | Banc of California, Inc.                                   | CUSIP: 05990K106<br>LEI: 549300ZKWUJDP6LJ1X87 | Long             | EC               | CORP              | US        |     41723 | NS      | $769372.12    | 1.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Trustmark Corp.                       | Trustmark Corp.                                            | CUSIP: 898402102<br>LEI: 5493000HPQ4D2RZ79739 | Long             | EC               | CORP              | US        |     17091 | NS      | $664839.90    | 1.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Ameris Bancorp                        | Ameris Bancorp                                             | CUSIP: 03076K108<br>LEI: PBJHNT51T5V6G5UQFV42 | Long             | EC               | CORP              | US        |     14294 | NS      | $1082913.44   | 2.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Synovus Financial Corp.               | Synovus Financial Corp.                                    | CUSIP: 87161C501<br>LEI: 549300EIUS8UN5JTLE54 | Long             | EC               | CORP              | US        |     20282 | NS      | $977592.40    | 1.92%             |  |  |  | No            |                  1 | On Loan: No      |
| WSFS Financial Corp.                  | WSFS Financial Corp.                                       | CUSIP: 929328102<br>LEI: 549300SU7VQHD6QRG886 | Long             | EC               | CORP              | US        |     15836 | NS      | $883807.16    | 1.74%             |  |  |  | No            |                  1 | On Loan: No      |
| United Bankshares, Inc.               | United Bankshares, Inc.                                    | CUSIP: 909907107<br>LEI: 5299005O3BAMJ9Z92V62 | Long             | EC               | CORP              | US        |     27286 | NS      | $1016130.64   | 2.00%             |  |  |  | No            |                  1 | On Loan: No      |
| First Financial Bancorp.              | First Financial Bancorp.                                   | CUSIP: 320209109<br>LEI: 549300D3F5B3EZMY7P77 | Long             | EC               | CORP              | US        |     27109 | NS      | $674471.92    | 1.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Independent Bank Corp.                | Independent Bank Corp.                                     | CUSIP: 453836108<br>LEI: 549300C5K3W8THR3GE10 | Long             | EC               | CORP              | US        |     14115 | NS      | $1016985.75   | 2.00%             |  |  |  | No            |                  1 | On Loan: —       |
| Simmons First National Corp.          | Simmons First National Corp., Class A                      | CUSIP: 828730200<br>LEI: 549300IVR5AJKUVOGN05 | Long             | EC               | CORP              | US        |     40957 | NS      | $759752.35    | 1.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Wesbanco, Inc.                        | Wesbanco, Inc.                                             | CUSIP: 950810101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     27163 | NS      | $876550.01    | 1.72%             |  |  |  | No            |                  1 | On Loan: No      |
| First Commonwealth Financial Corp.    | First Commonwealth Financial Corp.                         | CUSIP: 319829107<br>LEI: 549300ZHLQ42NXDETL24 | Long             | EC               | CORP              | US        |     29530 | NS      | $479862.50    | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Glacier Bancorp, Inc.                 | Glacier Bancorp, Inc.                                      | CUSIP: 37637Q105<br>LEI: 549300SMJAUKZB5D7V74 | Long             | EC               | CORP              | US        |     21298 | NS      | $900905.40    | 1.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Community Financial System, Inc.      | Community Financial System, Inc.                           | CUSIP: 203607106<br>LEI: 5299008N6YHE6GCP1E80 | Long             | EC               | CORP              | US        |     14958 | NS      | $849016.08    | 1.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Renasant Corp.                        | Renasant Corp.                                             | CUSIP: 75970E107<br>LEI: 549300OVE6OZHW2UUH81 | Long             | EC               | CORP              | US        |     26750 | NS      | $948020.00    | 1.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Home BancShares, Inc.                 | Home BancShares, Inc.                                      | CUSIP: 436893200<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     35159 | NS      | $986561.54    | 1.94%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-12-30

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

**Signature:** Adrien Deberghes

**Name of Signer:** Adrien Deberghes

**Title:** Vice President