# EDGAR Filing Document

**Accession Number:** 0001209466
**File Stem:** 0001209466-25-000324
**Filing Date:** 2025-9
**Character Count:** 161754
**Document Hash:** 56a4c5721be445f69e01c0569a9b2615
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001209466-25-000324.hdr.sgml**: 20250929

**ACCESSION NUMBER**: 0001209466-25-000324

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250731

**FILED AS OF DATE**: 20250929

**DATE AS OF CHANGE**: 20250929

**PERIOD START**: 20260430

**FILER**: 

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

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

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-21265
- **FILM NUMBER:** 251352903

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

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

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

## Series and Classes Contracts Data

### Invesco S&P SmallCap 600 Pure Value ETF (Series ID: S000060800)

| Class ID   | Class Name                              | Ticker Symbol   |
|:---|:---|:---|
| C000197616 | Invesco S&P SmallCap 600 Pure Value ETF | RZV             |

## Nport-Ex

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

**Invesco S&P 500**<sup>®</sup> **Pure Growth ETF (RPG)**

July 31, 2025

*(Unaudited)*

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

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Common Stocks & Other Equity Interests-99.92%** | **Common Stocks & Other Equity Interests-99.92%** | **Common Stocks & Other Equity Interests-99.92%** |
| **Communication Services-7.61%** | **Communication Services-7.61%** | **Communication Services-7.61%** |
| Live Nation Entertainment, Inc.<sup>(b)(c)</sup> | 191030 | &nbsp;&nbsp; $28215131 |
| Meta Platforms, Inc., Class A | 27224 | &nbsp;&nbsp; 21056131 |
| Netflix, Inc.<sup>(b)</sup> | 16241 | &nbsp;&nbsp; 18829815 |
| TKO Group Holdings, Inc. | 165911 | &nbsp;&nbsp; 27874707 |
| Trade Desk, Inc. (The), Class A<sup>(b)</sup> | 419845 | &nbsp;&nbsp; 36509721 |
|  |  | &nbsp;&nbsp; 132485505 |
| **Consumer Discretionary-22.91%** | **Consumer Discretionary-22.91%** | **Consumer Discretionary-22.91%** |
| Airbnb, Inc., Class A<sup>(b)</sup> | 70117 | &nbsp;&nbsp; 9284192 |
| Booking Holdings, Inc. | 4856 | &nbsp;&nbsp; 26727715 |
| Carnival Corp.<sup>(b)</sup> | 1349936 | &nbsp;&nbsp; 40187595 |
| Chipotle Mexican Grill, Inc.<sup>(b)</sup> | 162693 | &nbsp;&nbsp; 6976276 |
| Deckers Outdoor Corp.<sup>(b)</sup> | 115508 | &nbsp;&nbsp; 12263484 |
| DoorDash, Inc., Class A<sup>(b)</sup> | 108419 | &nbsp;&nbsp; 27131855 |
| Expedia Group, Inc. | 108832 | &nbsp;&nbsp; 19613703 |
| Garmin Ltd. | 45226 | &nbsp;&nbsp; 9893640 |
| Hilton Worldwide Holdings, Inc. | 87425 | &nbsp;&nbsp; 23436894 |
| Las Vegas Sands Corp. | 301802 | &nbsp;&nbsp; 15814425 |
| Marriott International, Inc., Class A | 71305 | &nbsp;&nbsp; 18812398 |
| Norwegian Cruise Line Holdings Ltd.<sup>(b)</sup> | 1449552 | &nbsp;&nbsp; 37050549 |
| PulteGroup, Inc. | 143568 | &nbsp;&nbsp; 16211699 |
| Ralph Lauren Corp. | 66544 | &nbsp;&nbsp; 19880020 |
| Royal Caribbean Cruises Ltd.<sup>(c)</sup> | 139584 | &nbsp;&nbsp; 44369566 |
| Tapestry, Inc. | 268430 | &nbsp;&nbsp; 28998493 |
| Tesla, Inc.<sup>(b)</sup> | 42694 | &nbsp;&nbsp; 13161279 |
| Williams-Sonoma, Inc. | 42898 | &nbsp;&nbsp; 8024071 |
| Wynn Resorts Ltd.<sup>(c)</sup> | 192451 | &nbsp;&nbsp; 20982932 |
|  |  | &nbsp;&nbsp; 398820786 |
| **Consumer Staples-0.47%** | **Consumer Staples-0.47%** | **Consumer Staples-0.47%** |
| Costco Wholesale Corp. | 8773 | &nbsp;&nbsp; 8243462 |
| **Energy-2.00%** | **Energy-2.00%** | **Energy-2.00%** |
| Targa Resources Corp. | 74423 | &nbsp;&nbsp; 12384731 |
| Texas Pacific Land Corp.<sup>(c)</sup> | 23121 | &nbsp;&nbsp; 22384134 |
|  |  | &nbsp;&nbsp; 34768865 |
| **Financials-10.41%** | **Financials-10.41%** | **Financials-10.41%** |
| American Express Co. | 66798 | &nbsp;&nbsp; 19993309 |
| Ameriprise Financial, Inc. | 29260 | &nbsp;&nbsp; 15162239 |
| Apollo Global Management, Inc. | 167991 | &nbsp;&nbsp; 24412452 |
| Arch Capital Group Ltd. | 187195 | &nbsp;&nbsp; 16110002 |
| Brown & Brown, Inc. | 125196 | &nbsp;&nbsp; 11439159 |
| Corpay, Inc.<sup>(b)</sup> | 50036 | &nbsp;&nbsp; 16164130 |
| Erie Indemnity Co., Class A<sup>(c)</sup> | 35172 | &nbsp;&nbsp; 12529673 |
| Fiserv, Inc.<sup>(b)</sup> | 71005 | &nbsp;&nbsp; 9865435 |
| Mastercard, Inc., Class A | 18776 | &nbsp;&nbsp; 10636041 |
| Progressive Corp. (The) | 64381 | &nbsp;&nbsp; 15582777 |
| Synchrony Financial | 265313 | &nbsp;&nbsp; 18484357 |
| Visa, Inc., Class A | 31586 | &nbsp;&nbsp; 10912015 |
|  |  | &nbsp;&nbsp; 181291589 |
| **Health Care-4.16%** | **Health Care-4.16%** | **Health Care-4.16%** |
| Boston Scientific Corp.<sup>(b)</sup> | 114895 | &nbsp;&nbsp; 12054783 |
| DaVita, Inc.<sup>(b)(c)</sup> | 72324 | &nbsp;&nbsp; 10152120 |
| Eli Lilly and Co. | 9319 | &nbsp;&nbsp; 6896712 |
| Insulet Corp.<sup>(b)</sup> | 62471 | &nbsp;&nbsp; 18016637 |
| Intuitive Surgical, Inc.<sup>(b)</sup> | 27055 | &nbsp;&nbsp; 13015890 |
| ResMed, Inc.<sup>(c)</sup> | 44927 | &nbsp;&nbsp; 12217448 |
|  |  | &nbsp;&nbsp; 72353590 |
| **Industrials-24.16%** | **Industrials-24.16%** | **Industrials-24.16%** |
| Axon Enterprise, Inc.<sup>(b)</sup> | 46068 | &nbsp;&nbsp; 34803913 |
| Caterpillar, Inc. | 37185 | &nbsp;&nbsp; 16287774 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Industrials-(continued)** | **Industrials-(continued)** | **Industrials-(continued)** |
| Cintas Corp. | 54880 | &nbsp;&nbsp; $12213544 |
| Cummins, Inc. | 38893 | &nbsp;&nbsp; 14297845 |
| Dayforce, Inc.<sup>(b)(c)</sup> | 99895 | &nbsp;&nbsp; 5760945 |
| Delta Air Lines, Inc. | 466876 | &nbsp;&nbsp; 24842472 |
| Eaton Corp. PLC | 25670 | &nbsp;&nbsp; 9875762 |
| GE Vernova, Inc. | 40056 | &nbsp;&nbsp; 26448576 |
| Howmet Aerospace, Inc. | 189076 | &nbsp;&nbsp; 33990193 |
| Hubbell, Inc. | 31383 | &nbsp;&nbsp; 13729435 |
| Ingersoll Rand, Inc. | 108208 | &nbsp;&nbsp; 9157643 |
| Lennox International, Inc. | 15260 | &nbsp;&nbsp; 9293340 |
| Parker-Hannifin Corp. | 15758 | &nbsp;&nbsp; 11533280 |
| Paycom Software, Inc.<sup>(c)</sup> | 64318 | &nbsp;&nbsp; 14892190 |
| Quanta Services, Inc. | 77613 | &nbsp;&nbsp; 31520968 |
| Republic Services, Inc. | 36853 | &nbsp;&nbsp; 8500144 |
| Trane Technologies PLC | 46798 | &nbsp;&nbsp; 20501268 |
| TransDigm Group, Inc. | 9035 | &nbsp;&nbsp; 14532436 |
| Uber Technologies, Inc.<sup>(b)</sup> | 296330 | &nbsp;&nbsp; 26002957 |
| United Airlines Holdings, Inc.<sup>(b)</sup> | 362934 | &nbsp;&nbsp; 32050702 |
| United Rentals, Inc. | 30146 | &nbsp;&nbsp; 26617109 |
| W.W. Grainger, Inc. | 9533 | &nbsp;&nbsp; 9909935 |
| Wabtec Corp. | 72490 | &nbsp;&nbsp; 13921704 |
|  |  | &nbsp;&nbsp; 420684135 |
| **Information Technology-20.88%** | **Information Technology-20.88%** | **Information Technology-20.88%** |
| Amphenol Corp., Class A | 146809 | &nbsp;&nbsp; 15636627 |
| Arista Networks, Inc.<sup>(b)</sup> | 272767 | &nbsp;&nbsp; 33610350 |
| Broadcom, Inc. | 91817 | &nbsp;&nbsp; 26966653 |
| CrowdStrike Holdings, Inc., Class A<sup>(b)</sup> | 58313 | &nbsp;&nbsp; 26507340 |
| Datadog, Inc., Class A<sup>(b)</sup> | 147272 | &nbsp;&nbsp; 20615135 |
| Fair Isaac Corp.<sup>(b)</sup> | 9446 | &nbsp;&nbsp; 13571257 |
| Fortinet, Inc.<sup>(b)</sup> | 275724 | &nbsp;&nbsp; 27544828 |
| GoDaddy, Inc., Class A<sup>(b)</sup> | 99750 | &nbsp;&nbsp; 16117605 |
| International Business Machines Corp. | 39102 | &nbsp;&nbsp; 9898671 |
| Motorola Solutions, Inc. | 18234 | &nbsp;&nbsp; 8004361 |
| NVIDIA Corp. | 224592 | &nbsp;&nbsp; 39948179 |
| Oracle Corp. | 55895 | &nbsp;&nbsp; 14184474 |
| Palantir Technologies, Inc., Class A<sup>(b)</sup> | 297652 | &nbsp;&nbsp; 47133194 |
| Palo Alto Networks, Inc.<sup>(b)(c)</sup> | 57134 | &nbsp;&nbsp; 9918462 |
| Salesforce, Inc. | 22318 | &nbsp;&nbsp; 5765409 |
| ServiceNow, Inc.<sup>(b)</sup> | 16513 | &nbsp;&nbsp; 15573741 |
| Super Micro Computer, Inc.<sup>(b)(c)</sup> | 405590 | &nbsp;&nbsp; 23917642 |
| Tyler Technologies, Inc.<sup>(b)</sup> | 14780 | &nbsp;&nbsp; 8639797 |
|  |  | &nbsp;&nbsp; 363553725 |
| **Real Estate-1.78%** | **Real Estate-1.78%** | **Real Estate-1.78%** |
| CBRE Group, Inc., Class A<sup>(b)</sup> | 108396 | &nbsp;&nbsp; 16881593 |
| Iron Mountain, Inc. | 145078 | &nbsp;&nbsp; 14124794 |
|  |  | &nbsp;&nbsp; 31006387 |
| **Utilities-5.54%** | **Utilities-5.54%** | **Utilities-5.54%** |
| Constellation Energy Corp. | 51565 | &nbsp;&nbsp; 17936370 |
| NRG Energy, Inc. | 192646 | &nbsp;&nbsp; 32210411 |
| Vistra Corp. | 222081 | &nbsp;&nbsp; 46312772 |
|  |  | &nbsp;&nbsp; 96459553 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks & Other Equity Interests <br>(Cost $1,433,968,445) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks & Other Equity Interests <br>(Cost $1,433,968,445) | &nbsp;&nbsp; 1739667597 |

---

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

------

**Invesco S&P 500**<sup>®</sup> **Pure Growth ETF (RPG)—(continued)**

July 31, 2025

*(Unaudited)*

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Money Market Funds-0.09%** | **Money Market Funds-0.09%** | **Money Market Funds-0.09%** |
| &nbsp;&nbsp;&nbsp; Invesco Government & Agency Portfolio, <br> Institutional Class, 4.25%<sup>(d)(e)</sup> <br>(Cost $1,535,003)<br>| 1535003 | &nbsp;&nbsp; $1535003 |
| &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES <br>(excluding investments purchased with cash collateral <br> from securities on loan)-100.01% <br>(Cost $1,435,503,448) | &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES <br>(excluding investments purchased with cash collateral <br> from securities on loan)-100.01% <br>(Cost $1,435,503,448) | &nbsp;&nbsp; 1741202600 |
| **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-7.56%** | **Money Market Funds-7.56%** | **Money Market Funds-7.56%** |
| &nbsp;&nbsp;&nbsp; Invesco Private Government Fund, <br> 4.32%<sup>(d)(e)(f)</sup><br>| 18924626 | &nbsp;&nbsp; 18924626 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Money Market Funds-(continued)** | **Money Market Funds-(continued)** | **Money Market Funds-(continued)** |
| Invesco Private Prime Fund, 4.46%<sup>(d)(e)(f)</sup> | 112700230 | &nbsp;&nbsp; $112722770 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Investments Purchased with Cash Collateral from <br> Securities on Loan <br>(Cost $131,647,396) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Investments Purchased with Cash Collateral from <br> Securities on Loan <br>(Cost $131,647,396) | &nbsp;&nbsp; 131647396 |
| &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES-107.57% <br>(Cost $1,567,150,844) | &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES-107.57% <br>(Cost $1,567,150,844) | &nbsp;&nbsp; 1872849996 |
| OTHER ASSETS LESS LIABILITIES-(7.57)% | OTHER ASSETS LESS LIABILITIES-(7.57)% | &nbsp;&nbsp; (131824416)<br>|
| NET ASSETS-100.00% | NET ASSETS-100.00% | &nbsp;&nbsp; $1741025580 |

---

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

---

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

---

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

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Value** <br>**April 30, 2025**<br>| **Purchases** <br>**at Cost**<br>| **Proceeds** <br>**from Sales**<br>| **Change in** <br>**Unrealized** <br>**Appreciation**<br>| **Realized** <br>**Gain** <br>**(Loss)**<br>| **Value** <br>**July 31, 2025**<br>| **Dividend Income** |
| **Investments in Affiliated** <br> **Money Market Funds:**<br>|  |  |  |  |  |  |  |
| &nbsp;&nbsp; Invesco Government & Agency <br> Portfolio, Institutional Class<br>| &nbsp;&nbsp;&nbsp; $493940 | &nbsp;&nbsp;&nbsp; $3782769 | &nbsp;&nbsp;&nbsp; $(2741706)<br>| &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $1535003 | &nbsp;&nbsp;&nbsp; $5412 |
| **Investments Purchased with** <br> **Cash Collateral from** <br> **Securities on Loan:**<br>|  |  |  |  |  |  |  |
| &nbsp;&nbsp; Invesco Private Government <br> Fund<br>| &nbsp;&nbsp;&nbsp; 47213890 | &nbsp;&nbsp;&nbsp; 125619745 | &nbsp;&nbsp;&nbsp; (153909009)<br>| &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; 18924626 | &nbsp;&nbsp;&nbsp; 398,225<br> \*<br>|
| &nbsp;&nbsp; Invesco Private Prime Fund | &nbsp;&nbsp;&nbsp; 122543494 | &nbsp;&nbsp;&nbsp; 230505305 | &nbsp;&nbsp;&nbsp; (240326390)<br>| &nbsp;&nbsp;&nbsp; 2353 | &nbsp;&nbsp;&nbsp; (1992)<br>| &nbsp;&nbsp;&nbsp; 112722770 | &nbsp;&nbsp;&nbsp; 1,090,260<br> \*<br>|
| &nbsp;&nbsp; Total | &nbsp;&nbsp;&nbsp; $170251324 | &nbsp;&nbsp;&nbsp; $359907819 | &nbsp;&nbsp;&nbsp; $(396977105)<br>| &nbsp;&nbsp;&nbsp; $2353 | &nbsp;&nbsp;&nbsp; $(1992)<br>| &nbsp;&nbsp;&nbsp; $133182399 | &nbsp;&nbsp;&nbsp; $1493897 |

---

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

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

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

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

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

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

------

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

**Invesco S&P 500**<sup>®</sup> **Pure Value ETF (RPV)**

July 31, 2025

*(Unaudited)*

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

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Common Stocks & Other Equity Interests-99.92%** | **Common Stocks & Other Equity Interests-99.92%** | **Common Stocks & Other Equity Interests-99.92%** |
| **Communication Services-6.15%** | **Communication Services-6.15%** | **Communication Services-6.15%** |
| AT&T, Inc. | 366512 | &nbsp;&nbsp; $10046094 |
| Comcast Corp., Class A | 184446 | &nbsp;&nbsp; 6129141 |
| Fox Corp., Class A | 93789 | &nbsp;&nbsp; 5229675 |
| Fox Corp., Class B | 55917 | &nbsp;&nbsp; 2859595 |
| Paramount Global, Class B<sup>(b)</sup> | 2189538 | &nbsp;&nbsp; 27522493 |
| Verizon Communications, Inc. | 160606 | &nbsp;&nbsp; 6867512 |
| Warner Bros. Discovery, Inc.<sup>(c)</sup> | 1779936 | &nbsp;&nbsp; 23441757 |
|  |  | &nbsp;&nbsp; 82096267 |
| **Consumer Discretionary-12.93%** | **Consumer Discretionary-12.93%** | **Consumer Discretionary-12.93%** |
| Aptiv PLC (Jersey)<sup>(c)</sup> | 255378 | &nbsp;&nbsp; 17529146 |
| Best Buy Co., Inc. | 145829 | &nbsp;&nbsp; 9487635 |
| Caesars Entertainment, Inc.<sup>(c)</sup> | 273387 | &nbsp;&nbsp; 7293965 |
| CarMax, Inc.<sup>(c)</sup> | 194564 | &nbsp;&nbsp; 11014268 |
| D.R. Horton, Inc. | 38076 | &nbsp;&nbsp; 5438776 |
| Ford Motor Co. | 3315528 | &nbsp;&nbsp; 36702895 |
| General Motors Co. | 678990 | &nbsp;&nbsp; 36217326 |
| Genuine Parts Co. | 60969 | &nbsp;&nbsp; 7857685 |
| Lennar Corp., Class A | 54896 | &nbsp;&nbsp; 6158233 |
| LKQ Corp. | 366493 | &nbsp;&nbsp; 10800549 |
| MGM Resorts International<sup>(c)</sup> | 238797 | &nbsp;&nbsp; 8704151 |
| Mohawk Industries, Inc.<sup>(c)</sup> | 135299 | &nbsp;&nbsp; 15493088 |
|  |  | &nbsp;&nbsp; 172697717 |
| **Consumer Staples-17.96%** | **Consumer Staples-17.96%** | **Consumer Staples-17.96%** |
| Archer-Daniels-Midland Co. | 594999 | &nbsp;&nbsp; 32237046 |
| Bunge Global S.A. | 367642 | &nbsp;&nbsp; 29323126 |
| Conagra Brands, Inc. | 379314 | &nbsp;&nbsp; 6926274 |
| Dollar General Corp. | 237327 | &nbsp;&nbsp; 24895602 |
| Dollar Tree, Inc.<sup>(c)</sup> | 201106 | &nbsp;&nbsp; 22835586 |
| J.M. Smucker Co. (The) | 71245 | &nbsp;&nbsp; 7647438 |
| Kraft Heinz Co. (The) | 601286 | &nbsp;&nbsp; 16511313 |
| Kroger Co. (The) | 354972 | &nbsp;&nbsp; 24883537 |
| Molson Coors Beverage Co., Class B | 287383 | &nbsp;&nbsp; 14001300 |
| Sysco Corp. | 122966 | &nbsp;&nbsp; 9788094 |
| Target Corp. | 79510 | &nbsp;&nbsp; 7990755 |
| Tyson Foods, Inc., Class A | 396469 | &nbsp;&nbsp; 20735329 |
| Walgreens Boots Alliance, Inc. | 1894203 | &nbsp;&nbsp; 22048523 |
|  |  | &nbsp;&nbsp; 239823923 |
| **Energy-9.52%** | **Energy-9.52%** | **Energy-9.52%** |
| APA Corp. | 562303 | &nbsp;&nbsp; 10846825 |
| Chevron Corp. | 42147 | &nbsp;&nbsp; 6391171 |
| Coterra Energy, Inc. | 230803 | &nbsp;&nbsp; 5629285 |
| Devon Energy Corp. | 210397 | &nbsp;&nbsp; 6989388 |
| Diamondback Energy, Inc. | 43793 | &nbsp;&nbsp; 6510267 |
| EQT Corp. | 132538 | &nbsp;&nbsp; 7123918 |
| Exxon Mobil Corp. | 61381 | &nbsp;&nbsp; 6852575 |
| Marathon Petroleum Corp. | 131688 | &nbsp;&nbsp; 22411981 |
| Occidental Petroleum Corp. | 142829 | &nbsp;&nbsp; 6275906 |
| Phillips 66 | 176776 | &nbsp;&nbsp; 21845978 |
| Valero Energy Corp. | 191497 | &nbsp;&nbsp; 26294453 |
|  |  | &nbsp;&nbsp; 127171747 |
| **Financials-18.53%** | **Financials-18.53%** | **Financials-18.53%** |
| Allstate Corp. (The) | 39503 | &nbsp;&nbsp; 8028985 |
| American International Group, Inc. | 211929 | &nbsp;&nbsp; 16452048 |
| Assurant, Inc. | 36711 | &nbsp;&nbsp; 6875970 |
| Bank of America Corp. | 151839 | &nbsp;&nbsp; 7177430 |
| Capital One Financial Corp. | 46610 | &nbsp;&nbsp; 10021150 |
| Chubb Ltd. | 21864 | &nbsp;&nbsp; 5816699 |
| Citigroup, Inc. | 280519 | &nbsp;&nbsp; 26284630 |
| Citizens Financial Group, Inc. | 281996 | &nbsp;&nbsp; 13456849 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Financials-(continued)** | **Financials-(continued)** | **Financials-(continued)** |
| Everest Group Ltd. | 45548 | &nbsp;&nbsp; $15295018 |
| Franklin Resources, Inc. | 705507 | &nbsp;&nbsp; 16932168 |
| Global Payments, Inc. | 64266 | &nbsp;&nbsp; 5138067 |
| Huntington Bancshares, Inc. | 355719 | &nbsp;&nbsp; 5844463 |
| Invesco Ltd.<sup>(d)</sup> | 1019350 | &nbsp;&nbsp; 21416543 |
| KeyCorp | 329248 | &nbsp;&nbsp; 5900124 |
| Loews Corp. | 183720 | &nbsp;&nbsp; 16634009 |
| M&T Bank Corp. | 32444 | &nbsp;&nbsp; 6122183 |
| MetLife, Inc. | 123924 | &nbsp;&nbsp; 9412028 |
| Principal Financial Group, Inc. | 77257 | &nbsp;&nbsp; 6012912 |
| Prudential Financial, Inc. | 139536 | &nbsp;&nbsp; 14453139 |
| Regions Financial Corp. | 241539 | &nbsp;&nbsp; 6118183 |
| State Street Corp. | 94408 | &nbsp;&nbsp; 10550094 |
| Travelers Cos., Inc. (The) | 26019 | &nbsp;&nbsp; 6771185 |
| Truist Financial Corp. | 156168 | &nbsp;&nbsp; 6826103 |
|  |  | &nbsp;&nbsp; 247539980 |
| **Health Care-16.27%** | **Health Care-16.27%** | **Health Care-16.27%** |
| Baxter International, Inc. | 200563 | &nbsp;&nbsp; 4364251 |
| Biogen, Inc.<sup>(c)</sup> | 49006 | &nbsp;&nbsp; 6272768 |
| Cardinal Health, Inc. | 143234 | &nbsp;&nbsp; 22232781 |
| Cencora, Inc. | 71418 | &nbsp;&nbsp; 20431261 |
| Centene Corp.<sup>(c)</sup> | 572740 | &nbsp;&nbsp; 14931332 |
| Cigna Group (The) | 63989 | &nbsp;&nbsp; 17109379 |
| CVS Health Corp. | 660072 | &nbsp;&nbsp; 40990471 |
| Elevance Health, Inc. | 39660 | &nbsp;&nbsp; 11226953 |
| Henry Schein, Inc.<sup>(c)</sup> | 106712 | &nbsp;&nbsp; 7219067 |
| Humana, Inc. | 89617 | &nbsp;&nbsp; 22392600 |
| McKesson Corp. | 28785 | &nbsp;&nbsp; 19963549 |
| Molina Healthcare, Inc.<sup>(c)</sup> | 49676 | &nbsp;&nbsp; 7842350 |
| Universal Health Services, Inc., Class B | 52244 | &nbsp;&nbsp; 8696014 |
| Viatris, Inc. | 1552488 | &nbsp;&nbsp; 13568745 |
|  |  | &nbsp;&nbsp; 217241521 |
| **Industrials-3.96%** | **Industrials-3.96%** | **Industrials-3.96%** |
| FedEx Corp. | 28238 | &nbsp;&nbsp; 6310911 |
| Huntington Ingalls Industries, Inc. | 73453 | &nbsp;&nbsp; 20483103 |
| Southwest Airlines Co.<sup>(b)</sup> | 351043 | &nbsp;&nbsp; 10857760 |
| Stanley Black & Decker, Inc. | 133741 | &nbsp;&nbsp; 9047579 |
| Textron, Inc. | 79431 | &nbsp;&nbsp; 6177349 |
|  |  | &nbsp;&nbsp; 52876702 |
| **Information Technology-2.78%** | **Information Technology-2.78%** | **Information Technology-2.78%** |
| Hewlett Packard Enterprise Co. | 670347 | &nbsp;&nbsp; 13869479 |
| Intel Corp. | 452004 | &nbsp;&nbsp; 8949679 |
| Jabil, Inc. | 64192 | &nbsp;&nbsp; 14325729 |
|  |  | &nbsp;&nbsp; 37144887 |
| **Materials-6.88%** | **Materials-6.88%** | **Materials-6.88%** |
| Dow, Inc. | 317852 | &nbsp;&nbsp; 7402773 |
| DuPont de Nemours, Inc. | 74042 | &nbsp;&nbsp; 5323620 |
| Eastman Chemical Co. | 66228 | &nbsp;&nbsp; 4808815 |
| International Paper Co. | 112430 | &nbsp;&nbsp; 5254978 |
| LyondellBasell Industries N.V., Class A | 176568 | &nbsp;&nbsp; 10228584 |
| Mosaic Co. (The) | 1003988 | &nbsp;&nbsp; 36153608 |
| Nucor Corp. | 63816 | &nbsp;&nbsp; 9130155 |
| Smurfit WestRock PLC | 181782 | &nbsp;&nbsp; 8067485 |
| Steel Dynamics, Inc. | 43680 | &nbsp;&nbsp; 5571821 |
|  |  | &nbsp;&nbsp; 91941839 |
| **Real Estate-1.02%** | **Real Estate-1.02%** | **Real Estate-1.02%** |
| Alexandria Real Estate Equities, Inc. | 89004 | &nbsp;&nbsp; 6802576 |
| VICI Properties, Inc. | 210508 | &nbsp;&nbsp; 6862561 |
|  |  | &nbsp;&nbsp; 13665137 |

---

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

------

**Invesco S&P 500**<sup>®</sup> **Pure Value ETF (RPV)—(continued)**

July 31, 2025

*(Unaudited)*

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Utilities-3.92%** | **Utilities-3.92%** | **Utilities-3.92%** |
| AES Corp. (The) | 710218 | &nbsp;&nbsp; $9339367 |
| Consolidated Edison, Inc. | 68761 | &nbsp;&nbsp; 7116762 |
| Evergy, Inc. | 110554 | &nbsp;&nbsp; 7827223 |
| Eversource Energy | 96877 | &nbsp;&nbsp; 6403570 |
| Exelon Corp. | 230053 | &nbsp;&nbsp; 10338582 |
| PG&E Corp. | 328782 | &nbsp;&nbsp; 4609524 |
| Pinnacle West Capital Corp. | 74860 | &nbsp;&nbsp; 6783813 |
|  |  | &nbsp;&nbsp; 52418841 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks & Other Equity Interests <br>(Cost $1,454,638,123) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks & Other Equity Interests <br>(Cost $1,454,638,123) | &nbsp;&nbsp; 1334618561 |
| **Money Market Funds-0.01%** | **Money Market Funds-0.01%** | **Money Market Funds-0.01%** |
| &nbsp;&nbsp;&nbsp; Invesco Government & Agency Portfolio, <br> Institutional Class, 4.25%<sup>(d)(e)</sup> <br>(Cost $126,482)<br>| 126482 | &nbsp;&nbsp; 126482 |
| &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES <br>(excluding investments purchased with cash collateral <br> from securities on loan)-99.93% <br>(Cost $1,454,764,605) | &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES <br>(excluding investments purchased with cash collateral <br> from securities on loan)-99.93% <br>(Cost $1,454,764,605) | &nbsp;&nbsp; 1334745043 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Investments Purchased with Cash Collateral from Securities** <br> **on Loan** | **Investments Purchased with Cash Collateral from Securities** <br> **on Loan** | **Investments Purchased with Cash Collateral from Securities** <br> **on Loan** |
| **Money Market Funds-2.14%** | **Money Market Funds-2.14%** | **Money Market Funds-2.14%** |
| &nbsp;&nbsp;&nbsp; Invesco Private Government Fund, <br> 4.32%<sup>(d)(e)(f)</sup><br>| 7944994 | &nbsp;&nbsp; $7944994 |
| Invesco Private Prime Fund, 4.46%<sup>(d)(e)(f)</sup> | 20676326 | &nbsp;&nbsp; 20680461 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Investments Purchased with Cash Collateral from <br> Securities on Loan <br>(Cost $28,626,245) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Investments Purchased with Cash Collateral from <br> Securities on Loan <br>(Cost $28,626,245) | &nbsp;&nbsp; 28625455 |
| &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES-102.07% <br>(Cost $1,483,390,850) | &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES-102.07% <br>(Cost $1,483,390,850) | &nbsp;&nbsp; 1363370498 |
| OTHER ASSETS LESS LIABILITIES-(2.07)% | OTHER ASSETS LESS LIABILITIES-(2.07)% | &nbsp;&nbsp; (27699423)<br>|
| NET ASSETS-100.00% | NET ASSETS-100.00% | &nbsp;&nbsp; $1335671075 |

---

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

---

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

---

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

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Value** <br>**April 30, 2025**<br>| **Purchases** <br>**at Cost**<br>| **Proceeds** <br>**from Sales**<br>| **Change in** <br>**Unrealized** <br>**Appreciation**<br>| **Realized** <br>**Gain** <br>**(Loss)**<br>| **Value** <br>**July 31, 2025**<br>| **Dividend Income** |
| &nbsp;&nbsp; Invesco Ltd. | &nbsp;&nbsp;&nbsp; $14111243 | &nbsp;&nbsp;&nbsp; $1542644 | &nbsp;&nbsp;&nbsp; $(1331229)<br>| &nbsp;&nbsp;&nbsp; $7027552 | &nbsp;&nbsp;&nbsp; $66333 | &nbsp;&nbsp;&nbsp; $21416543 | &nbsp;&nbsp;&nbsp; $214591 |
| **Investments in Affiliated** <br> **Money Market Funds:**<br>|  |  |  |  |  |  |  |
| &nbsp;&nbsp; Invesco Government & Agency <br> Portfolio, Institutional Class<br>| &nbsp;&nbsp;&nbsp; 417307 | &nbsp;&nbsp;&nbsp; 8894535 | &nbsp;&nbsp;&nbsp; (9185360)<br>| &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; 126482 | &nbsp;&nbsp;&nbsp; 11111 |
| **Investments Purchased with** <br> **Cash Collateral from Securities** <br> **on Loan:**<br>|  |  |  |  |  |  |  |
| &nbsp;&nbsp; Invesco Private Government <br> Fund<br>| &nbsp;&nbsp;&nbsp; 16575638 | &nbsp;&nbsp;&nbsp; 19240175 | &nbsp;&nbsp;&nbsp; (27870819)<br>| &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; 7944994 | &nbsp;&nbsp;&nbsp; 136,780<br> \*<br>|
| &nbsp;&nbsp; Invesco Private Prime Fund | &nbsp;&nbsp;&nbsp; 43094869 | &nbsp;&nbsp;&nbsp; 47912291 | &nbsp;&nbsp;&nbsp; (70325909)<br>| &nbsp;&nbsp;&nbsp; 2263 | &nbsp;&nbsp;&nbsp; (3053)<br>| &nbsp;&nbsp;&nbsp; 20680461 | &nbsp;&nbsp;&nbsp; 366,099<br> \*<br>|
| &nbsp;&nbsp; Total | &nbsp;&nbsp;&nbsp; $74199057 | &nbsp;&nbsp;&nbsp; $77589645 | &nbsp;&nbsp;&nbsp; $(108713317)<br>| &nbsp;&nbsp;&nbsp; $7029815 | &nbsp;&nbsp;&nbsp; $63280 | &nbsp;&nbsp;&nbsp; $50168480 | &nbsp;&nbsp;&nbsp; $728581 |

---

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

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

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

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

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

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

------

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

**Invesco S&P 500**<sup>®</sup> **Top 50 ETF (XLG)**

July 31, 2025

*(Unaudited)*

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

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Common Stocks & Other Equity Interests-99.69%** | **Common Stocks & Other Equity Interests-99.69%** | **Common Stocks & Other Equity Interests-99.69%** |
| **Communication Services-14.28%** | **Communication Services-14.28%** | **Communication Services-14.28%** |
| Alphabet, Inc., Class A | 1748915 | &nbsp;&nbsp; $335616789 |
| Alphabet, Inc., Class C | 1410873 | &nbsp;&nbsp; 272100967 |
| AT&T, Inc. | 2162435 | &nbsp;&nbsp; 59272343 |
| Meta Platforms, Inc., Class A | 622197 | &nbsp;&nbsp; 481232048 |
| Netflix, Inc.<sup>(b)</sup> | 127899 | &nbsp;&nbsp; 148286101 |
| Verizon Communications, Inc. | 1266961 | &nbsp;&nbsp; 54175252 |
| Walt Disney Co. (The) | 540130 | &nbsp;&nbsp; 64334884 |
|  |  | &nbsp;&nbsp; 1415018384 |
| **Consumer Discretionary-11.08%** | **Consumer Discretionary-11.08%** | **Consumer Discretionary-11.08%** |
| Amazon.com, Inc.<sup>(b)</sup> | 2839411 | &nbsp;&nbsp; 664734509 |
| Home Depot, Inc. (The) | 298616 | &nbsp;&nbsp; 109744366 |
| McDonald's Corp. | 214958 | &nbsp;&nbsp; 64502447 |
| Tesla, Inc.<sup>(b)</sup> | 842144 | &nbsp;&nbsp; 259607731 |
|  |  | &nbsp;&nbsp; 1098589053 |
| **Consumer Staples-5.76%** | **Consumer Staples-5.76%** | **Consumer Staples-5.76%** |
| Coca-Cola Co. (The) | 1163957 | &nbsp;&nbsp; 79021041 |
| Costco Wholesale Corp. | 133261 | &nbsp;&nbsp; 125217366 |
| PepsiCo, Inc. | 411907 | &nbsp;&nbsp; 56810213 |
| Philip Morris International, Inc. | 467676 | &nbsp;&nbsp; 76722248 |
| Procter & Gamble Co. (The) | 704463 | &nbsp;&nbsp; 106000548 |
| Walmart, Inc. | 1298437 | &nbsp;&nbsp; 127220857 |
|  |  | &nbsp;&nbsp; 570992273 |
| **Energy-2.34%** | **Energy-2.34%** | **Energy-2.34%** |
| Chevron Corp. | 575825 | &nbsp;&nbsp; 87318103 |
| Exxon Mobil Corp. | 1295087 | &nbsp;&nbsp; 144583513 |
|  |  | &nbsp;&nbsp; 231901616 |
| **Financials-10.71%** | **Financials-10.71%** | **Financials-10.71%** |
| Bank of America Corp. | 1969112 | &nbsp;&nbsp; 93079924 |
| Berkshire Hathaway, Inc., Class B<sup>(b)</sup> | 551057 | &nbsp;&nbsp; 260032777 |
| Goldman Sachs Group, Inc. (The) | 92203 | &nbsp;&nbsp; 66717169 |
| JPMorgan Chase & Co. | 835073 | &nbsp;&nbsp; 247382025 |
| Mastercard, Inc., Class A | 243213 | &nbsp;&nbsp; 137772868 |
| Visa, Inc., Class A | 514172 | &nbsp;&nbsp; 177631001 |
| Wells Fargo & Co. | 977852 | &nbsp;&nbsp; 78844207 |
|  |  | &nbsp;&nbsp; 1061459971 |
| **Health Care-6.45%** | **Health Care-6.45%** | **Health Care-6.45%** |
| Abbott Laboratories | 522765 | &nbsp;&nbsp; 65967715 |
| AbbVie, Inc. | 530851 | &nbsp;&nbsp; 100341456 |
| Eli Lilly and Co. | 236424 | &nbsp;&nbsp; 174970310 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Health Care-(continued)** | **Health Care-(continued)** | **Health Care-(continued)** |
| Intuitive Surgical, Inc.<sup>(b)</sup> | 107746 | &nbsp;&nbsp; $51835523 |
| Johnson & Johnson | 722952 | &nbsp;&nbsp; 119099113 |
| Merck & Co., Inc. | 754570 | &nbsp;&nbsp; 58947008 |
| UnitedHealth Group, Inc. | 272648 | &nbsp;&nbsp; 68042035 |
|  |  | &nbsp;&nbsp; 639203160 |
| **Industrials-1.50%** | **Industrials-1.50%** | **Industrials-1.50%** |
| Caterpillar, Inc. | 141418 | &nbsp;&nbsp; 61943913 |
| General Electric Co. | 320339 | &nbsp;&nbsp; 86837496 |
|  |  | &nbsp;&nbsp; 148781409 |
| **Information Technology-46.91%** | **Information Technology-46.91%** | **Information Technology-46.91%** |
| Accenture PLC, Class A (Ireland) | 188062 | &nbsp;&nbsp; 50231360 |
| Adobe, Inc.<sup>(b)</sup> | 128085 | &nbsp;&nbsp; 45814724 |
| Advanced Micro Devices, Inc.<sup>(b)</sup> | 487282 | &nbsp;&nbsp; 85912689 |
| Apple, Inc. | 4488335 | &nbsp;&nbsp; 931643696 |
| Broadcom, Inc. | 1413007 | &nbsp;&nbsp; 415000156 |
| Cisco Systems, Inc. | 1195497 | &nbsp;&nbsp; 81389436 |
| International Business Machines Corp. | 279238 | &nbsp;&nbsp; 70689100 |
| Intuit, Inc. | 84127 | &nbsp;&nbsp; 66050631 |
| Microsoft Corp. | 2233573 | &nbsp;&nbsp; 1191611195 |
| NVIDIA Corp. | 7328686 | &nbsp;&nbsp; 1303553379 |
| Oracle Corp. | 488875 | &nbsp;&nbsp; 124061809 |
| Palantir Technologies, Inc., Class A<sup>(b)</sup> | 639281 | &nbsp;&nbsp; 101230146 |
| Salesforce, Inc. | 288415 | &nbsp;&nbsp; 74506247 |
| ServiceNow, Inc.<sup>(b)</sup> | 62101 | &nbsp;&nbsp; 58568695 |
| Texas Instruments, Inc. | 273043 | &nbsp;&nbsp; 49437166 |
|  |  | &nbsp;&nbsp; 4649700429 |
| **Materials-0.66%** | **Materials-0.66%** | **Materials-0.66%** |
| Linde PLC | 141539 | &nbsp;&nbsp; 65144740 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks & Other Equity Interests <br>(Cost $8,211,353,779) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks & Other Equity Interests <br>(Cost $8,211,353,779) | &nbsp;&nbsp; 9880791035 |
| **Money Market Funds-0.04%** | **Money Market Funds-0.04%** | **Money Market Funds-0.04%** |
| &nbsp;&nbsp;&nbsp; Invesco Government & Agency Portfolio, <br> Institutional Class, 4.25%<sup>(c)(d)</sup> <br>(Cost $3,977,250)<br>| 3977250 | &nbsp;&nbsp; 3977250 |
| &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES-99.73% <br>(Cost $8,215,331,029) | &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES-99.73% <br>(Cost $8,215,331,029) | &nbsp;&nbsp; 9884768285 |
| OTHER ASSETS LESS LIABILITIES-0.27% | OTHER ASSETS LESS LIABILITIES-0.27% | &nbsp;&nbsp; 26483604 |
| NET ASSETS-100.00% | NET ASSETS-100.00% | &nbsp;&nbsp; $9911251889 |

---

&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> | Affiliated holding. Affiliated holdings are investments in entities which are under common ownership or control of Invesco Ltd. or are investments in entities in <br> which the Fund owns 5% or more of the outstanding voting securities. The table below shows the Fund's transactions in, and earnings from, its investments in <br> affiliates for the three months ended July 31, 2025.<br>|

---

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

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Value** <br>**April 30, 2025**<br>| **Purchases** <br>**at Cost**<br>| **Proceeds** <br>**from Sales**<br>| **Change in** <br>**Unrealized** <br>**Appreciation**<br>| **Realized** <br>**Gain** <br>**(Loss)**<br>| **Value** <br>**July 31, 2025**<br>| **Dividend Income** |
| **Investments in Affiliated Money** <br> **Market Funds:**<br>|  |  |  |  |  |  |  |
| &nbsp;&nbsp; Invesco Government & Agency <br> Portfolio, Institutional Class<br>| &nbsp;&nbsp;&nbsp; $3450520 | &nbsp;&nbsp;&nbsp; $21917940 | &nbsp;&nbsp;&nbsp; $(21391210)<br>| &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $3977250 | &nbsp;&nbsp;&nbsp; $68923 |

---

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

------

**Invesco S&P 500**<sup>®</sup> **Top 50 ETF (XLG)—(continued)**

July 31, 2025

*(Unaudited)*

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Value**<br> **April 30, 2025**<br>| **Purchases**<br> **at Cost**<br>| **Proceeds**<br> **from Sales**<br>| **Change in**<br> **Unrealized**<br> **Appreciation**<br>| **Realized**<br> **Gain**<br> **(Loss)**<br>| **Value**<br> **July 31, 2025**<br>| **Dividend Income** |
| **Investments Purchased with** <br> **Cash Collateral from Securities** <br> **on Loan:**<br>|  |  |  |  |  |  |  |
| &nbsp;&nbsp; Invesco Private Government Fund | &nbsp;&nbsp;&nbsp; $1987552 | &nbsp;&nbsp;&nbsp; $6447093 | &nbsp;&nbsp;&nbsp; $(8434645)<br>| &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $4,838<br> \*<br>|
| &nbsp;&nbsp; Invesco Private Prime Fund | &nbsp;&nbsp;&nbsp; 4447929 | &nbsp;&nbsp;&nbsp; 16956541 | &nbsp;&nbsp;&nbsp; (21404470)<br>| &nbsp;&nbsp;&nbsp; 370 | &nbsp;&nbsp;&nbsp; (370)<br>| &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; 12,884<br> \*<br>|
| &nbsp;&nbsp; Total | &nbsp;&nbsp;&nbsp; $9886001 | &nbsp;&nbsp;&nbsp; $45321574 | &nbsp;&nbsp;&nbsp; $(51230325)<br>| &nbsp;&nbsp;&nbsp; $370 | &nbsp;&nbsp;&nbsp; $(370)<br>| &nbsp;&nbsp;&nbsp; $3977250 | &nbsp;&nbsp;&nbsp; $86645 |

---

&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 July 31, 2025.

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

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

------

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

**Invesco S&P MidCap 400**<sup>®</sup> **Pure Growth ETF (RFG)**

July 31, 2025

*(Unaudited)*

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

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Common Stocks & Other Equity Interests-100.02%** | **Common Stocks & Other Equity Interests-100.02%** | **Common Stocks & Other Equity Interests-100.02%** |
| **Consumer Discretionary-16.68%** | **Consumer Discretionary-16.68%** | **Consumer Discretionary-16.68%** |
| Abercrombie & Fitch Co., Class A<sup>(b)</sup> | 32229 | &nbsp;&nbsp; $3094629 |
| Chewy, Inc., Class A<sup>(b)</sup> | 84824 | &nbsp;&nbsp; 3113041 |
| Choice Hotels International, Inc.<sup>(c)</sup> | 10788 | &nbsp;&nbsp; 1377735 |
| Churchill Downs, Inc.<sup>(c)</sup> | 18753 | &nbsp;&nbsp; 2007321 |
| Crocs, Inc.<sup>(b)</sup> | 20008 | &nbsp;&nbsp; 1995398 |
| Grand Canyon Education, Inc.<sup>(b)</sup> | 12907 | &nbsp;&nbsp; 2176507 |
| H&R Block, Inc. | 46858 | &nbsp;&nbsp; 2546264 |
| Hilton Grand Vacations, Inc.<sup>(b)(c)</sup> | 77437 | &nbsp;&nbsp; 3470726 |
| Hyatt Hotels Corp., Class A | 26271 | &nbsp;&nbsp; 3703423 |
| Murphy USA, Inc. | 6042 | &nbsp;&nbsp; 2190104 |
| Planet Fitness, Inc., Class A<sup>(b)</sup> | 40432 | &nbsp;&nbsp; 4414770 |
| Texas Roadhouse, Inc. | 21814 | &nbsp;&nbsp; 4038426 |
| Toll Brothers, Inc. | 25531 | &nbsp;&nbsp; 3021849 |
| TopBuild Corp.<sup>(b)</sup> | 7358 | &nbsp;&nbsp; 2725624 |
| Travel + Leisure Co. | 54974 | &nbsp;&nbsp; 3257210 |
| Valvoline, Inc.<sup>(b)</sup> | 70355 | &nbsp;&nbsp; 2480014 |
| Wingstop, Inc.<sup>(c)</sup> | 11110 | &nbsp;&nbsp; 4192247 |
|  |  | &nbsp;&nbsp; 49805288 |
| **Consumer Staples-3.74%** | **Consumer Staples-3.74%** | **Consumer Staples-3.74%** |
| Coca-Cola Consolidated, Inc. | 18761 | &nbsp;&nbsp; 2096542 |
| e.l.f. Beauty, Inc.<sup>(b)(c)</sup> | 18160 | &nbsp;&nbsp; 2200810 |
| Pilgrim's Pride Corp. | 71672 | &nbsp;&nbsp; 3396536 |
| Sprouts Farmers Market, Inc.<sup>(b)</sup> | 22913 | &nbsp;&nbsp; 3472236 |
|  |  | &nbsp;&nbsp; 11166124 |
| **Energy-5.62%** | **Energy-5.62%** | **Energy-5.62%** |
| CNX Resources Corp.<sup>(b)(c)</sup> | 79781 | &nbsp;&nbsp; 2418162 |
| DT Midstream, Inc. | 21251 | &nbsp;&nbsp; 2183115 |
| Permian Resources Corp. | 242480 | &nbsp;&nbsp; 3433517 |
| Valaris Ltd.<sup>(b)(c)</sup> | 128573 | &nbsp;&nbsp; 6252505 |
| Viper Energy, Inc. | 65803 | &nbsp;&nbsp; 2478141 |
|  |  | &nbsp;&nbsp; 16765440 |
| **Financials-12.40%** | **Financials-12.40%** | **Financials-12.40%** |
| East West Bancorp, Inc. | 29770 | &nbsp;&nbsp; 2984442 |
| Equitable Holdings, Inc. | 36890 | &nbsp;&nbsp; 1894302 |
| Hamilton Lane, Inc., Class A | 25585 | &nbsp;&nbsp; 3896595 |
| Houlihan Lokey, Inc. | 8074 | &nbsp;&nbsp; 1539389 |
| Interactive Brokers Group, Inc., Class A | 90725 | &nbsp;&nbsp; 5947931 |
| Kinsale Capital Group, Inc. | 8026 | &nbsp;&nbsp; 3536978 |
| RenaissanceRe Holdings Ltd. (Bermuda) | 17812 | &nbsp;&nbsp; 4341497 |
| Ryan Specialty Holdings, Inc., Class A | 44225 | &nbsp;&nbsp; 2706128 |
| Shift4 Payments, Inc., Class A<sup>(b)(c)</sup> | 50772 | &nbsp;&nbsp; 5229516 |
| SLM Corp. | 66976 | &nbsp;&nbsp; 2129837 |
| Western Alliance Bancorporation | 36413 | &nbsp;&nbsp; 2824192 |
|  |  | &nbsp;&nbsp; 37030807 |
| **Health Care-17.09%** | **Health Care-17.09%** | **Health Care-17.09%** |
| Doximity, Inc., Class A<sup>(b)</sup> | 39499 | &nbsp;&nbsp; 2320566 |
| Ensign Group, Inc. (The) | 12002 | &nbsp;&nbsp; 1800300 |
| Exelixis, Inc.<sup>(b)</sup> | 118393 | &nbsp;&nbsp; 4288194 |
| Globus Medical, Inc., Class A<sup>(b)</sup> | 67037 | &nbsp;&nbsp; 3528157 |
| Halozyme Therapeutics, Inc.<sup>(b)</sup> | 66073 | &nbsp;&nbsp; 3962398 |
| HealthEquity, Inc.<sup>(b)</sup> | 18791 | &nbsp;&nbsp; 1822727 |
| Hims & Hers Health, Inc.<sup>(b)(c)</sup> | 161681 | &nbsp;&nbsp; 10700049 |
| Lantheus Holdings, Inc.<sup>(b)</sup> | 39339 | &nbsp;&nbsp; 2800543 |
| Masimo Corp.<sup>(b)(c)</sup> | 25725 | &nbsp;&nbsp; 3956248 |
| Medpace Holdings, Inc.<sup>(b)</sup> | 9428 | &nbsp;&nbsp; 4027642 |
| Neurocrine Biosciences, Inc.<sup>(b)</sup> | 19707 | &nbsp;&nbsp; 2527029 |
| Roivant Sciences Ltd.<sup>(b)(c)</sup> | 545523 | &nbsp;&nbsp; 6197141 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Health Care-(continued)** | **Health Care-(continued)** | **Health Care-(continued)** |
| Sarepta Therapeutics, Inc.<sup>(b)(c)</sup> | 40363 | &nbsp;&nbsp; $662760 |
| United Therapeutics Corp.<sup>(b)</sup> | 8824 | &nbsp;&nbsp; 2423953 |
|  |  | &nbsp;&nbsp; 51017707 |
| **Industrials-29.12%** | **Industrials-29.12%** | **Industrials-29.12%** |
| AAON, Inc.<sup>(c)</sup> | 45383 | &nbsp;&nbsp; 3789481 |
| Acuity, Inc. | 7819 | &nbsp;&nbsp; 2434446 |
| AeroVironment, Inc.<sup>(b)(c)</sup> | 8968 | &nbsp;&nbsp; 2400196 |
| Alaska Air Group, Inc.<sup>(b)</sup> | 64883 | &nbsp;&nbsp; 3436204 |
| American Airlines Group, Inc.<sup>(b)(c)</sup> | 275372 | &nbsp;&nbsp; 3164024 |
| Applied Industrial Technologies, Inc. | 9131 | &nbsp;&nbsp; 2479067 |
| BWX Technologies, Inc. | 17699 | &nbsp;&nbsp; 2689009 |
| Carlisle Cos., Inc. | 4221 | &nbsp;&nbsp; 1497231 |
| Chart Industries, Inc.<sup>(b)</sup> | 21627 | &nbsp;&nbsp; 4300096 |
| Clean Harbors, Inc.<sup>(b)</sup> | 13708 | &nbsp;&nbsp; 3232483 |
| Comfort Systems USA, Inc. | 12787 | &nbsp;&nbsp; 8993097 |
| Curtiss-Wright Corp. | 6535 | &nbsp;&nbsp; 3203588 |
| EMCOR Group, Inc. | 10429 | &nbsp;&nbsp; 6544093 |
| ESAB Corp. | 19210 | &nbsp;&nbsp; 2577406 |
| ExlService Holdings, Inc.<sup>(b)</sup> | 76893 | &nbsp;&nbsp; 3339463 |
| Kirby Corp.<sup>(b)(c)</sup> | 29007 | &nbsp;&nbsp; 2764657 |
| MasTec, Inc.<sup>(b)</sup> | 25639 | &nbsp;&nbsp; 4851155 |
| Mueller Industries, Inc. | 23035 | &nbsp;&nbsp; 1966498 |
| nVent Electric PLC | 31390 | &nbsp;&nbsp; 2461604 |
| Owens Corning | 11624 | &nbsp;&nbsp; 1620734 |
| Parsons Corp.<sup>(b)(c)</sup> | 33014 | &nbsp;&nbsp; 2449639 |
| Paylocity Holding Corp.<sup>(b)</sup> | 17385 | &nbsp;&nbsp; 3214139 |
| RB Global, Inc. (Canada) | 34532 | &nbsp;&nbsp; 3738434 |
| RBC Bearings, Inc.<sup>(b)</sup> | 10272 | &nbsp;&nbsp; 3978757 |
| Saia, Inc.<sup>(b)</sup> | 3510 | &nbsp;&nbsp; 1060862 |
| Tetra Tech, Inc. | 53387 | &nbsp;&nbsp; 1961438 |
| Woodward, Inc. | 10863 | &nbsp;&nbsp; 2792660 |
|  |  | &nbsp;&nbsp; 86940461 |
| **Information Technology-9.44%** | **Information Technology-9.44%** | **Information Technology-9.44%** |
| AppFolio, Inc., Class A<sup>(b)</sup> | 13664 | &nbsp;&nbsp; 3653480 |
| Belden, Inc. | 16853 | &nbsp;&nbsp; 2083873 |
| Coherent Corp.<sup>(b)</sup> | 17870 | &nbsp;&nbsp; 1922812 |
| Commvault Systems, Inc.<sup>(b)</sup> | 17620 | &nbsp;&nbsp; 3346919 |
| DocuSign, Inc.<sup>(b)</sup> | 33980 | &nbsp;&nbsp; 2570247 |
| Dynatrace, Inc.<sup>(b)</sup> | 29481 | &nbsp;&nbsp; 1550995 |
| Fabrinet (Thailand)<sup>(b)</sup> | 8579 | &nbsp;&nbsp; 2777280 |
| Guidewire Software, Inc.<sup>(b)</sup> | 19431 | &nbsp;&nbsp; 4395681 |
| Manhattan Associates, Inc.<sup>(b)</sup> | 6175 | &nbsp;&nbsp; 1356401 |
| Okta, Inc.<sup>(b)</sup> | 19035 | &nbsp;&nbsp; 1861623 |
| Pegasystems, Inc. | 45256 | &nbsp;&nbsp; 2656980 |
|  |  | &nbsp;&nbsp; 28176291 |
| **Materials-5.93%** | **Materials-5.93%** | **Materials-5.93%** |
| ATI, Inc.<sup>(b)</sup> | 57265 | &nbsp;&nbsp; 4405969 |
| Carpenter Technology Corp. | 30164 | &nbsp;&nbsp; 7522600 |
| Eagle Materials, Inc. | 12473 | &nbsp;&nbsp; 2797569 |
| Knife River Corp.<sup>(b)</sup> | 22010 | &nbsp;&nbsp; 1815385 |
| Louisiana-Pacific Corp. | 12944 | &nbsp;&nbsp; 1170267 |
|  |  | &nbsp;&nbsp; 17711790 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks & Other Equity Interests <br>(Cost $260,922,977) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks & Other Equity Interests <br>(Cost $260,922,977) | &nbsp;&nbsp; 298613908 |

---

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

------

**Invesco S&P MidCap 400**<sup>®</sup> **Pure Growth ETF (RFG)—(continued)**

July 31, 2025

*(Unaudited)*

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Money Market Funds-0.00%** | **Money Market Funds-0.00%** | **Money Market Funds-0.00%** |
| &nbsp;&nbsp;&nbsp; Invesco Government & Agency Portfolio, <br> Institutional Class, 4.25%<sup>(d)(e)</sup> <br>(Cost $12,060)<br>| 12060 | &nbsp;&nbsp; $12060 |
| &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES <br>(excluding investments purchased with cash collateral <br> from securities on loan)-100.02% <br>(Cost $260,935,037) | &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES <br>(excluding investments purchased with cash collateral <br> from securities on loan)-100.02% <br>(Cost $260,935,037) | &nbsp;&nbsp; 298625968 |
| **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-17.09%** | **Money Market Funds-17.09%** | **Money Market Funds-17.09%** |
| &nbsp;&nbsp;&nbsp; Invesco Private Government Fund, <br> 4.32%<sup>(d)(e)(f)</sup><br>| 13802593 | &nbsp;&nbsp; 13802593 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Money Market Funds-(continued)** | **Money Market Funds-(continued)** | **Money Market Funds-(continued)** |
| Invesco Private Prime Fund, 4.46%<sup>(d)(e)(f)</sup> | 37202929 | &nbsp;&nbsp; $37210370 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Investments Purchased with Cash Collateral from <br> Securities on Loan <br>(Cost $51,012,963) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Investments Purchased with Cash Collateral from <br> Securities on Loan <br>(Cost $51,012,963) | &nbsp;&nbsp; 51012963 |
| &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES-117.11% <br>(Cost $311,948,000) | &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES-117.11% <br>(Cost $311,948,000) | &nbsp;&nbsp; 349638931 |
| OTHER ASSETS LESS LIABILITIES-(17.11)% | OTHER ASSETS LESS LIABILITIES-(17.11)% | &nbsp;&nbsp; (51073011)<br>|
| NET ASSETS-100.00% | NET ASSETS-100.00% | &nbsp;&nbsp; $298565920 |

---

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

---

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

---

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

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Value** <br>**April 30, 2025**<br>| **Purchases** <br>**at Cost**<br>| **Proceeds** <br>**from Sales**<br>| **Change in** <br>**Unrealized** <br>**Appreciation**<br>| **Realized** <br>**Gain** <br>**(Loss)**<br>| **Value** <br>**July 31, 2025**<br>| **Dividend Income** |
| **Investments in Affiliated** <br> **Money Market Funds:**<br>|  |  |  |  |  |  |  |
| &nbsp;&nbsp; Invesco Government & Agency <br> Portfolio, Institutional Class<br>| &nbsp;&nbsp;&nbsp; $44577 | &nbsp;&nbsp;&nbsp; $755555 | &nbsp;&nbsp;&nbsp; $(788072)<br>| &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $12060 | &nbsp;&nbsp;&nbsp; $843 |
| **Investments Purchased with** <br> **Cash Collateral from** <br> **Securities on Loan:**<br>|  |  |  |  |  |  |  |
| &nbsp;&nbsp; Invesco Private Government <br> Fund<br>| &nbsp;&nbsp;&nbsp; 15622482 | &nbsp;&nbsp;&nbsp; 37668249 | &nbsp;&nbsp;&nbsp; (39488138)<br>| &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; 13802593 | &nbsp;&nbsp;&nbsp; 163,293<br> \*<br>|
| &nbsp;&nbsp; Invesco Private Prime Fund | &nbsp;&nbsp;&nbsp; 40361377 | &nbsp;&nbsp;&nbsp; 70433783 | &nbsp;&nbsp;&nbsp; (73584997)<br>| &nbsp;&nbsp;&nbsp; 2070 | &nbsp;&nbsp;&nbsp; (1863)<br>| &nbsp;&nbsp;&nbsp; 37210370 | &nbsp;&nbsp;&nbsp; 446,253<br> \*<br>|
| &nbsp;&nbsp; Total | &nbsp;&nbsp;&nbsp; $56028436 | &nbsp;&nbsp;&nbsp; $108857587 | &nbsp;&nbsp;&nbsp; $(113861207)<br>| &nbsp;&nbsp;&nbsp; $2070 | &nbsp;&nbsp;&nbsp; $(1863)<br>| &nbsp;&nbsp;&nbsp; $51025023 | &nbsp;&nbsp;&nbsp; $610389 |

---

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

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

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

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

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

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

------

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

**Invesco S&P MidCap 400**<sup>®</sup> **Pure Value ETF (RFV)**

July 31, 2025

*(Unaudited)*

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

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Common Stocks & Other Equity Interests-99.90%** | **Common Stocks & Other Equity Interests-99.90%** | **Common Stocks & Other Equity Interests-99.90%** |
| **Consumer Discretionary-26.14%** | **Consumer Discretionary-26.14%** | **Consumer Discretionary-26.14%** |
| Aramark | 40258 | &nbsp;&nbsp; $1713381 |
| AutoNation, Inc.<sup>(b)</sup> | 28046 | &nbsp;&nbsp; 5402781 |
| Capri Holdings Ltd.<sup>(b)</sup> | 108347 | &nbsp;&nbsp; 1970832 |
| Gap, Inc. (The) | 88814 | &nbsp;&nbsp; 1728320 |
| Goodyear Tire & Rubber Co. (The)<sup>(b)(c)</sup> | 853119 | &nbsp;&nbsp; 8770063 |
| Graham Holdings Co., Class B<sup>(c)</sup> | 4011 | &nbsp;&nbsp; 3827216 |
| Harley-Davidson, Inc.<sup>(c)</sup> | 98954 | &nbsp;&nbsp; 2407551 |
| Lear Corp.<sup>(c)</sup> | 71621 | &nbsp;&nbsp; 6753144 |
| Lithia Motors, Inc., Class A | 16314 | &nbsp;&nbsp; 4698432 |
| Macy's, Inc. | 445431 | &nbsp;&nbsp; 5625794 |
| Marriott Vacations Worldwide Corp.<sup>(c)</sup> | 22041 | &nbsp;&nbsp; 1641393 |
| Penske Automotive Group, Inc.<sup>(c)</sup> | 29408 | &nbsp;&nbsp; 4923193 |
| Polaris, Inc.<sup>(c)</sup> | 42775 | &nbsp;&nbsp; 2263225 |
| PVH Corp.<sup>(c)</sup> | 35488 | &nbsp;&nbsp; 2605529 |
| Taylor Morrison Home Corp., Class A<sup>(b)</sup> | 38634 | &nbsp;&nbsp; 2290224 |
| Thor Industries, Inc.<sup>(c)</sup> | 33832 | &nbsp;&nbsp; 3078374 |
| Under Armour, Inc., Class A<sup>(b)(c)</sup> | 97194 | &nbsp;&nbsp; 645368 |
| Under Armour, Inc., Class C<sup>(b)(c)</sup> | 67632 | &nbsp;&nbsp; 426082 |
| Visteon Corp.<sup>(b)</sup> | 25946 | &nbsp;&nbsp; 2883898 |
| Whirlpool Corp.<sup>(c)</sup> | 42426 | &nbsp;&nbsp; 3523055 |
|  |  | &nbsp;&nbsp; 67177855 |
| **Consumer Staples-5.96%** | **Consumer Staples-5.96%** | **Consumer Staples-5.96%** |
| Albertson's Cos., Inc., Class A | 201025 | &nbsp;&nbsp; 3863700 |
| Coty, Inc., Class A<sup>(b)(c)</sup> | 230755 | &nbsp;&nbsp; 1119162 |
| Darling Ingredients, Inc.<sup>(b)</sup> | 55863 | &nbsp;&nbsp; 1808844 |
| Performance Food Group Co.<sup>(b)</sup> | 51613 | &nbsp;&nbsp; 5181945 |
| US Foods Holding Corp.<sup>(b)</sup> | 40140 | &nbsp;&nbsp; 3344866 |
|  |  | &nbsp;&nbsp; 15318517 |
| **Energy-12.46%** | **Energy-12.46%** | **Energy-12.46%** |
| Chord Energy Corp. | 30478 | &nbsp;&nbsp; 3362638 |
| Civitas Resources, Inc. | 103837 | &nbsp;&nbsp; 3152491 |
| HF Sinclair Corp. | 221669 | &nbsp;&nbsp; 9740136 |
| Murphy Oil Corp.<sup>(c)</sup> | 111838 | &nbsp;&nbsp; 2774701 |
| NOV, Inc. | 303384 | &nbsp;&nbsp; 3816571 |
| Ovintiv, Inc. | 67036 | &nbsp;&nbsp; 2760542 |
| PBF Energy, Inc., Class A<sup>(c)</sup> | 283437 | &nbsp;&nbsp; 6405676 |
|  |  | &nbsp;&nbsp; 32012755 |
| **Financials-13.45%** | **Financials-13.45%** | **Financials-13.45%** |
| Ally Financial, Inc. | 72554 | &nbsp;&nbsp; 2746169 |
| Associated Banc-Corp | 87145 | &nbsp;&nbsp; 2155967 |
| Bank OZK | 39504 | &nbsp;&nbsp; 1947547 |
| Brighthouse Financial, Inc.<sup>(b)</sup> | 86225 | &nbsp;&nbsp; 4125866 |
| CNO Financial Group, Inc. | 57718 | &nbsp;&nbsp; 2126331 |
| Essent Group Ltd. | 30991 | &nbsp;&nbsp; 1735186 |
| F.N.B. Corp. | 131739 | &nbsp;&nbsp; 2018242 |
| First American Financial Corp. | 26494 | &nbsp;&nbsp; 1590965 |
| Hanover Insurance Group, Inc. (The) | 9592 | &nbsp;&nbsp; 1646275 |
| Kemper Corp. | 28477 | &nbsp;&nbsp; 1753899 |
| Old Republic International Corp. | 49126 | &nbsp;&nbsp; 1776887 |
| Prosperity Bancshares, Inc.<sup>(c)</sup> | 18715 | &nbsp;&nbsp; 1246793 |
| Reinsurance Group of America, Inc. | 15806 | &nbsp;&nbsp; 3041865 |
| Starwood Property Trust, Inc. | 74992 | &nbsp;&nbsp; 1459344 |
| Unum Group | 33642 | &nbsp;&nbsp; 2415832 |
| Valley National Bancorp | 299433 | &nbsp;&nbsp; 2775744 |
|  |  | &nbsp;&nbsp; 34562912 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Health Care-2.11%** | **Health Care-2.11%** | **Health Care-2.11%** |
| Acadia Healthcare Co., Inc.<sup>(b)(c)</sup> | 63960 | &nbsp;&nbsp; $1392409 |
| Perrigo Co. PLC | 151619 | &nbsp;&nbsp; 4043679 |
|  |  | &nbsp;&nbsp; 5436088 |
| **Industrials-17.27%** | **Industrials-17.27%** | **Industrials-17.27%** |
| AGCO Corp. | 28846 | &nbsp;&nbsp; 3402963 |
| Avis Budget Group, Inc.<sup>(b)(c)</sup> | 36031 | &nbsp;&nbsp; 6133917 |
| CNH Industrial N.V. | 185457 | &nbsp;&nbsp; 2403523 |
| Concentrix Corp.<sup>(c)</sup> | 212476 | &nbsp;&nbsp; 11042378 |
| Fluor Corp.<sup>(b)</sup> | 26887 | &nbsp;&nbsp; 1526375 |
| GXO Logistics, Inc.<sup>(b)(c)</sup> | 40640 | &nbsp;&nbsp; 2020214 |
| Insperity, Inc. | 22364 | &nbsp;&nbsp; 1332447 |
| Knight-Swift Transportation Holdings, Inc. | 31084 | &nbsp;&nbsp; 1321070 |
| ManpowerGroup, Inc. | 102178 | &nbsp;&nbsp; 4214842 |
| Maximus, Inc. | 20435 | &nbsp;&nbsp; 1509329 |
| Oshkosh Corp. | 25669 | &nbsp;&nbsp; 3247899 |
| Terex Corp. | 49603 | &nbsp;&nbsp; 2522809 |
| WESCO International, Inc. | 17965 | &nbsp;&nbsp; 3718036 |
|  |  | &nbsp;&nbsp; 44395802 |
| **Information Technology-11.25%** | **Information Technology-11.25%** | **Information Technology-11.25%** |
| Amkor Technology, Inc. | 75642 | &nbsp;&nbsp; 1706484 |
| Arrow Electronics, Inc.<sup>(b)(c)</sup> | 60882 | &nbsp;&nbsp; 7062312 |
| Avnet, Inc. | 146611 | &nbsp;&nbsp; 7761586 |
| BILL Holdings, Inc.<sup>(b)(c)</sup> | 42778 | &nbsp;&nbsp; 1833037 |
| Flex Ltd.<sup>(b)</sup> | 49380 | &nbsp;&nbsp; 2462581 |
| TD SYNNEX Corp. | 56010 | &nbsp;&nbsp; 8087284 |
|  |  | &nbsp;&nbsp; 28913284 |
| **Materials-6.02%** | **Materials-6.02%** | **Materials-6.02%** |
| Ashland, Inc.<sup>(c)</sup> | 23107 | &nbsp;&nbsp; 1191397 |
| Cleveland-Cliffs, Inc.<sup>(b)(c)</sup> | 662470 | &nbsp;&nbsp; 6969184 |
| Commercial Metals Co. | 35607 | &nbsp;&nbsp; 1846579 |
| Greif, Inc., Class A<sup>(c)</sup> | 47423 | &nbsp;&nbsp; 3008041 |
| Olin Corp.<sup>(c)</sup> | 39987 | &nbsp;&nbsp; 757354 |
| Sonoco Products Co. | 37793 | &nbsp;&nbsp; 1703330 |
|  |  | &nbsp;&nbsp; 15475885 |
| **Real Estate-0.83%** | **Real Estate-0.83%** | **Real Estate-0.83%** |
| Kilroy Realty Corp.<sup>(c)</sup> | 57987 | &nbsp;&nbsp; 2137401 |
| **Utilities-4.41%** | **Utilities-4.41%** | **Utilities-4.41%** |
| Black Hills Corp. | 24346 | &nbsp;&nbsp; 1406712 |
| NorthWestern Energy Group, Inc. | 34242 | &nbsp;&nbsp; 1838795 |
| Portland General Electric Co. | 39879 | &nbsp;&nbsp; 1639825 |
| Southwest Gas Holdings, Inc. | 22525 | &nbsp;&nbsp; 1760104 |
| Spire, Inc. | 23271 | &nbsp;&nbsp; 1732991 |
| UGI Corp.<sup>(c)</sup> | 81773 | &nbsp;&nbsp; 2958547 |
|  |  | &nbsp;&nbsp; 11336974 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks & Other Equity Interests <br>(Cost $262,320,254) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks & Other Equity Interests <br>(Cost $262,320,254) | &nbsp;&nbsp; 256767473 |
| **Money Market Funds-0.08%** | **Money Market Funds-0.08%** | **Money Market Funds-0.08%** |
| &nbsp;&nbsp;&nbsp; Invesco Government & Agency Portfolio, <br> Institutional Class, 4.25%<sup>(d)(e)</sup> <br>(Cost $197,553)<br>| 197553 | &nbsp;&nbsp; 197553 |
| &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES <br>(excluding investments purchased with cash collateral <br> from securities on loan)-99.98% <br>(Cost $262,517,807) | &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES <br>(excluding investments purchased with cash collateral <br> from securities on loan)-99.98% <br>(Cost $262,517,807) | &nbsp;&nbsp; 256965026 |

---

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

------

**Invesco S&P MidCap 400**<sup>®</sup> **Pure Value ETF (RFV)—(continued)**

July 31, 2025

*(Unaudited)*

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Investments Purchased with Cash Collateral from Securities** <br> **on Loan** | **Investments Purchased with Cash Collateral from Securities** <br> **on Loan** | **Investments Purchased with Cash Collateral from Securities** <br> **on Loan** |
| **Money Market Funds-20.60%** | **Money Market Funds-20.60%** | **Money Market Funds-20.60%** |
| &nbsp;&nbsp;&nbsp; Invesco Private Government Fund, <br> 4.32%<sup>(d)(e)(f)</sup><br>| 14387767 | &nbsp;&nbsp; $14387767 |
| Invesco Private Prime Fund, 4.46%<sup>(d)(e)(f)</sup> | 38539637 | &nbsp;&nbsp; 38547345 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Investments Purchased with Cash Collateral from <br> Securities on Loan <br>(Cost $52,935,185) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Investments Purchased with Cash Collateral from <br> Securities on Loan <br>(Cost $52,935,185) | &nbsp;&nbsp; 52935112 |
| &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES-120.58% <br>(Cost $315,452,992) | &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES-120.58% <br>(Cost $315,452,992) | &nbsp;&nbsp; 309900138 |
| OTHER ASSETS LESS LIABILITIES-(20.58)% | OTHER ASSETS LESS LIABILITIES-(20.58)% | &nbsp;&nbsp; (52884525)<br>|
| NET ASSETS-100.00% | NET ASSETS-100.00% | &nbsp;&nbsp; $257015613 |

---

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

---

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

---

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

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Value** <br>**April 30, 2025**<br>| **Purchases** <br>**at Cost**<br>| **Proceeds** <br>**from Sales**<br>| **Change in** <br>**Unrealized** <br>**Appreciation**<br>| **Realized** <br>**Gain** <br>**(Loss)**<br>| **Value** <br>**July 31, 2025**<br>| **Dividend Income** |
| **Investments in Affiliated** <br> **Money Market Funds:**<br>|  |  |  |  |  |  |  |
| &nbsp;&nbsp; Invesco Government & Agency <br> Portfolio, Institutional Class<br>| &nbsp;&nbsp;&nbsp; $129494 | &nbsp;&nbsp;&nbsp; $10484867 | &nbsp;&nbsp;&nbsp; $(10416808)<br>| &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $197553 | &nbsp;&nbsp;&nbsp; $3216 |
| **Investments Purchased with** <br> **Cash Collateral from** <br> **Securities on Loan:**<br>|  |  |  |  |  |  |  |
| &nbsp;&nbsp; Invesco Private Government <br> Fund<br>| &nbsp;&nbsp;&nbsp; 20672156 | &nbsp;&nbsp;&nbsp; 43147695 | &nbsp;&nbsp;&nbsp; (49432084)<br>| &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; 14387767 | &nbsp;&nbsp;&nbsp; 196,319<br> \*<br>|
| &nbsp;&nbsp; Invesco Private Prime Fund | &nbsp;&nbsp;&nbsp; 50964273 | &nbsp;&nbsp;&nbsp; 84863902 | &nbsp;&nbsp;&nbsp; (97280756)<br>| &nbsp;&nbsp;&nbsp; 2556 | &nbsp;&nbsp;&nbsp; (2630)<br>| &nbsp;&nbsp;&nbsp; 38547345 | &nbsp;&nbsp;&nbsp; 535,354<br> \*<br>|
| &nbsp;&nbsp; Total | &nbsp;&nbsp;&nbsp; $71765923 | &nbsp;&nbsp;&nbsp; $138496464 | &nbsp;&nbsp;&nbsp; $(157129648)<br>| &nbsp;&nbsp;&nbsp; $2556 | &nbsp;&nbsp;&nbsp; $(2630)<br>| &nbsp;&nbsp;&nbsp; $53132665 | &nbsp;&nbsp;&nbsp; $734889 |

---

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

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

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

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

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

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

------

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

**Invesco S&P SmallCap 600**<sup>®</sup> **Pure Growth ETF (RZG)**

July 31, 2025

*(Unaudited)*

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

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Common Stocks & Other Equity Interests-99.95%** | **Common Stocks & Other Equity Interests-99.95%** | **Common Stocks & Other Equity Interests-99.95%** |
| **Communication Services-3.36%** | **Communication Services-3.36%** | **Communication Services-3.36%** |
| CarGurus, Inc.<sup>(b)</sup> | 12842 | &nbsp;&nbsp; $421474 |
| Cinemark Holdings, Inc.<sup>(c)</sup> | 48837 | &nbsp;&nbsp; 1312250 |
| Cogent Communications Holdings, Inc.<sup>(c)</sup> | 6885 | &nbsp;&nbsp; 313887 |
| &nbsp;&nbsp;&nbsp; Madison Square Garden Sports Corp., <br> Class A<sup>(b)</sup><br>| 3831 | &nbsp;&nbsp; 774245 |
| QuinStreet, Inc.<sup>(b)</sup> | 30350 | &nbsp;&nbsp; 498044 |
|  |  | &nbsp;&nbsp; 3319900 |
| **Consumer Discretionary-12.86%** | **Consumer Discretionary-12.86%** | **Consumer Discretionary-12.86%** |
| Adtalem Global Education, Inc.<sup>(b)</sup> | 12617 | &nbsp;&nbsp; 1441744 |
| Boot Barn Holdings, Inc.<sup>(b)</sup> | 5571 | &nbsp;&nbsp; 957655 |
| Brinker International, Inc.<sup>(b)</sup> | 6147 | &nbsp;&nbsp; 968767 |
| Cavco Industries, Inc.<sup>(b)</sup> | 1859 | &nbsp;&nbsp; 750422 |
| Champion Homes, Inc.<sup>(b)</sup> | 4403 | &nbsp;&nbsp; 268143 |
| Dave & Buster's Entertainment, Inc.<sup>(b)(c)</sup> | 19919 | &nbsp;&nbsp; 582431 |
| Dorman Products, Inc.<sup>(b)</sup> | 7511 | &nbsp;&nbsp; 905977 |
| Dream Finders Homes, Inc., Class A<sup>(b)(c)</sup> | 29997 | &nbsp;&nbsp; 759524 |
| Frontdoor, Inc.<sup>(b)</sup> | 9124 | &nbsp;&nbsp; 533754 |
| Green Brick Partners, Inc.<sup>(b)</sup> | 14237 | &nbsp;&nbsp; 881840 |
| Installed Building Products, Inc.<sup>(c)</sup> | 3339 | &nbsp;&nbsp; 675446 |
| Kontoor Brands, Inc. | 3707 | &nbsp;&nbsp; 206332 |
| Monarch Casino & Resort, Inc. | 4529 | &nbsp;&nbsp; 466306 |
| Sabre Corp.<sup>(b)(c)</sup> | 264836 | &nbsp;&nbsp; 802453 |
| Shake Shack, Inc., Class A<sup>(b)</sup> | 8197 | &nbsp;&nbsp; 986427 |
| Six Flags Entertainment Corp.<sup>(b)(c)</sup> | 16958 | &nbsp;&nbsp; 508062 |
| Stride, Inc.<sup>(b)</sup> | 5912 | &nbsp;&nbsp; 758096 |
| XPEL, Inc.<sup>(b)(c)(d)</sup> | 7311 | &nbsp;&nbsp; 238997 |
|  |  | &nbsp;&nbsp; 12692376 |
| **Consumer Staples-4.29%** | **Consumer Staples-4.29%** | **Consumer Staples-4.29%** |
| Cal-Maine Foods, Inc. | 13024 | &nbsp;&nbsp; 1447487 |
| Chefs' Warehouse, Inc. (The)<sup>(b)</sup> | 24137 | &nbsp;&nbsp; 1654833 |
| Freshpet, Inc.<sup>(b)(c)</sup> | 11942 | &nbsp;&nbsp; 815878 |
| Interparfums, Inc. | 2612 | &nbsp;&nbsp; 315007 |
|  |  | &nbsp;&nbsp; 4233205 |
| **Energy-3.99%** | **Energy-3.99%** | **Energy-3.99%** |
| Archrock, Inc. | 25409 | &nbsp;&nbsp; 593554 |
| Atlas Energy Solutions, Inc.<sup>(c)</sup> | 40899 | &nbsp;&nbsp; 531687 |
| Cactus, Inc., Class A | 17444 | &nbsp;&nbsp; 738055 |
| Core Natural Resources, Inc. | 7830 | &nbsp;&nbsp; 577932 |
| Northern Oil and Gas, Inc.<sup>(c)</sup> | 18698 | &nbsp;&nbsp; 526536 |
| Oceaneering International, Inc.<sup>(b)</sup> | 17201 | &nbsp;&nbsp; 373262 |
| Tidewater, Inc.<sup>(b)(c)</sup> | 11896 | &nbsp;&nbsp; 594919 |
|  |  | &nbsp;&nbsp; 3935945 |
| **Financials-16.14%** | **Financials-16.14%** | **Financials-16.14%** |
| Acadian Asset Management, Inc. | 38782 | &nbsp;&nbsp; 1620700 |
| Axos Financial, Inc.<sup>(b)</sup> | 16288 | &nbsp;&nbsp; 1406469 |
| BancFirst Corp. | 2471 | &nbsp;&nbsp; 307689 |
| Bancorp, Inc. (The)<sup>(b)</sup> | 13784 | &nbsp;&nbsp; 870597 |
| City Holding Co. | 2455 | &nbsp;&nbsp; 299756 |
| Enova International, Inc.<sup>(b)</sup> | 10025 | &nbsp;&nbsp; 1048214 |
| Goosehead Insurance, Inc., Class A | 6057 | &nbsp;&nbsp; 550642 |
| HCI Group, Inc. | 6578 | &nbsp;&nbsp; 921183 |
| Mercury General Corp. | 11626 | &nbsp;&nbsp; 805100 |
| NMI Holdings, Inc., Class A<sup>(b)</sup> | 13334 | &nbsp;&nbsp; 497625 |
| Palomar Holdings, Inc.<sup>(b)</sup> | 12223 | &nbsp;&nbsp; 1619425 |
| Pathward Financial, Inc. | 12456 | &nbsp;&nbsp; 941985 |
| Payoneer Global, Inc.<sup>(b)</sup> | 35543 | &nbsp;&nbsp; 233518 |
| PJT Partners, Inc., Class A<sup>(c)</sup> | 4484 | &nbsp;&nbsp; 800932 |
| Preferred Bank<sup>(c)</sup> | 7503 | &nbsp;&nbsp; 681422 |
| PROG Holdings, Inc. | 15210 | &nbsp;&nbsp; 484286 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Financials-(continued)** | **Financials-(continued)** | **Financials-(continued)** |
| ServisFirst Bancshares, Inc. | 5285 | &nbsp;&nbsp; $415665 |
| Trupanion, Inc.<sup>(b)(c)</sup> | 22270 | &nbsp;&nbsp; 1055821 |
| Virtu Financial, Inc., Class A | 11178 | &nbsp;&nbsp; 493397 |
| WisdomTree, Inc.<sup>(c)</sup> | 66228 | &nbsp;&nbsp; 878846 |
|  |  | &nbsp;&nbsp; 15933272 |
| **Health Care-20.75%** | **Health Care-20.75%** | **Health Care-20.75%** |
| ADMA Biologics, Inc.<sup>(b)</sup> | 72497 | &nbsp;&nbsp; 1355694 |
| ANI Pharmaceuticals, Inc.<sup>(b)</sup> | 6916 | &nbsp;&nbsp; 438129 |
| Arcus Biosciences, Inc.<sup>(b)(c)</sup> | 37403 | &nbsp;&nbsp; 341489 |
| Artivion, Inc.<sup>(b)</sup> | 15742 | &nbsp;&nbsp; 486585 |
| Astrana Health, Inc.<sup>(b)(c)</sup> | 20690 | &nbsp;&nbsp; 493663 |
| BioLife Solutions, Inc.<sup>(b)(c)</sup> | 23438 | &nbsp;&nbsp; 498292 |
| Catalyst Pharmaceuticals, Inc.<sup>(b)</sup> | 49588 | &nbsp;&nbsp; 1057712 |
| Collegium Pharmaceutical, Inc.<sup>(b)(c)</sup> | 23425 | &nbsp;&nbsp; 699471 |
| Corcept Therapeutics, Inc.<sup>(b)</sup> | 22993 | &nbsp;&nbsp; 1544440 |
| CorVel Corp.<sup>(b)</sup> | 6376 | &nbsp;&nbsp; 564914 |
| Glaukos Corp.<sup>(b)</sup> | 3839 | &nbsp;&nbsp; 330500 |
| Harmony Biosciences Holdings, Inc.<sup>(b)</sup> | 23858 | &nbsp;&nbsp; 839324 |
| ICU Medical, Inc.<sup>(b)</sup> | 5567 | &nbsp;&nbsp; 714858 |
| Inspire Medical Systems, Inc.<sup>(b)</sup> | 4468 | &nbsp;&nbsp; 556445 |
| Integer Holdings Corp.<sup>(b)</sup> | 4142 | &nbsp;&nbsp; 449448 |
| Krystal Biotech, Inc.<sup>(b)</sup> | 7472 | &nbsp;&nbsp; 1149717 |
| LeMaitre Vascular, Inc. | 7418 | &nbsp;&nbsp; 602638 |
| &nbsp;&nbsp;&nbsp; OmniAb, Inc., Rts., expiring <br> 11/02/2027<sup>(b)(c)(e)</sup><br>| 2881 | &nbsp;&nbsp; 0 |
| &nbsp;&nbsp;&nbsp; OmniAb, Inc., Rts., expiring <br> 11/02/2027<sup>(b)(c)(e)</sup><br>| 2881 | &nbsp;&nbsp; 0 |
| Phibro Animal Health Corp., Class A | 26846 | &nbsp;&nbsp; 711419 |
| Protagonist Therapeutics, Inc.<sup>(b)(c)</sup> | 36666 | &nbsp;&nbsp; 1974831 |
| RadNet, Inc.<sup>(b)(c)</sup> | 5663 | &nbsp;&nbsp; 309936 |
| TG Therapeutics, Inc.<sup>(b)(c)</sup> | 45893 | &nbsp;&nbsp; 1629201 |
| TransMedics Group, Inc.<sup>(b)(c)</sup> | 11113 | &nbsp;&nbsp; 1322114 |
| UFP Technologies, Inc.<sup>(b)(c)</sup> | 4502 | &nbsp;&nbsp; 1019208 |
| Veracyte, Inc.<sup>(b)(c)</sup> | 43947 | &nbsp;&nbsp; 1033194 |
| Vericel Corp.<sup>(b)(c)</sup> | 10161 | &nbsp;&nbsp; 355025 |
|  |  | &nbsp;&nbsp; 20478247 |
| **Industrials-21.95%** | **Industrials-21.95%** | **Industrials-21.95%** |
| Apogee Enterprises, Inc. | 8794 | &nbsp;&nbsp; 369260 |
| Armstrong World Industries, Inc. | 5325 | &nbsp;&nbsp; 1002005 |
| AZZ, Inc. | 14095 | &nbsp;&nbsp; 1543403 |
| CSW Industrials, Inc. | 2460 | &nbsp;&nbsp; 638321 |
| DXP Enterprises, Inc.<sup>(b)</sup> | 17146 | &nbsp;&nbsp; 1941956 |
| Dycom Industries, Inc.<sup>(b)</sup> | 4917 | &nbsp;&nbsp; 1321739 |
| Enerpac Tool Group Corp. | 11283 | &nbsp;&nbsp; 434508 |
| ESCO Technologies, Inc. | 3171 | &nbsp;&nbsp; 614223 |
| Federal Signal Corp. | 5316 | &nbsp;&nbsp; 672846 |
| GEO Group, Inc. (The)<sup>(b)</sup> | 15875 | &nbsp;&nbsp; 411480 |
| Granite Construction, Inc. | 7367 | &nbsp;&nbsp; 695960 |
| Greenbrier Cos., Inc. (The) | 19709 | &nbsp;&nbsp; 896760 |
| Griffon Corp. | 7832 | &nbsp;&nbsp; 636507 |
| Interface, Inc. | 24249 | &nbsp;&nbsp; 500014 |
| Kadant, Inc.<sup>(c)</sup> | 1328 | &nbsp;&nbsp; 441919 |
| Moog, Inc., Class A | 2002 | &nbsp;&nbsp; 387547 |
| Mueller Water Products, Inc., Class A | 19768 | &nbsp;&nbsp; 489456 |
| OPENLANE, Inc.<sup>(b)(c)</sup> | 43397 | &nbsp;&nbsp; 1069302 |
| Powell Industries, Inc.<sup>(c)</sup> | 5274 | &nbsp;&nbsp; 1250465 |
| Pursuit Attractions and Hospitality, Inc.<sup>(b)(c)</sup> | 22853 | &nbsp;&nbsp; 691075 |
| SkyWest, Inc.<sup>(b)</sup> | 10163 | &nbsp;&nbsp; 1178501 |
| SPX Technologies, Inc.<sup>(b)</sup> | 6165 | &nbsp;&nbsp; 1124434 |
| Sterling Infrastructure, Inc.<sup>(b)(c)</sup> | 4219 | &nbsp;&nbsp; 1128962 |
| Trinity Industries, Inc. | 29463 | &nbsp;&nbsp; 686488 |

---

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

------

**Invesco S&P SmallCap 600**<sup>®</sup> **Pure Growth ETF (RZG)—(continued)**

July 31, 2025

*(Unaudited)*

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Industrials-(continued)** | **Industrials-(continued)** | **Industrials-(continued)** |
| Verra Mobility Corp., Class A<sup>(b)</sup> | 22909 | &nbsp;&nbsp; $578681 |
| Zurn Elkay Water Solutions Corp. | 21704 | &nbsp;&nbsp; 960402 |
|  |  | &nbsp;&nbsp; 21666214 |
| **Information Technology-9.73%** | **Information Technology-9.73%** | **Information Technology-9.73%** |
| ACI Worldwide, Inc.<sup>(b)</sup> | 15235 | &nbsp;&nbsp; 648402 |
| Agilysys, Inc.<sup>(b)(c)</sup> | 5014 | &nbsp;&nbsp; 571997 |
| Badger Meter, Inc. | 2864 | &nbsp;&nbsp; 540609 |
| Box, Inc., Class A<sup>(b)</sup> | 10649 | &nbsp;&nbsp; 341833 |
| CleanSpark, Inc.<sup>(b)(c)</sup> | 68467 | &nbsp;&nbsp; 778470 |
| Clear Secure, Inc., Class A | 28316 | &nbsp;&nbsp; 832773 |
| DigitalOcean Holdings, Inc.<sup>(b)</sup> | 12321 | &nbsp;&nbsp; 343263 |
| Impinj, Inc.<sup>(b)(c)</sup> | 7192 | &nbsp;&nbsp; 1111739 |
| InterDigital, Inc.<sup>(c)</sup> | 7314 | &nbsp;&nbsp; 1888475 |
| Itron, Inc.<sup>(b)</sup> | 4390 | &nbsp;&nbsp; 546731 |
| MARA Holdings, Inc.<sup>(b)(c)</sup> | 60705 | &nbsp;&nbsp; 976136 |
| OSI Systems, Inc.<sup>(b)(c)</sup> | 2514 | &nbsp;&nbsp; 555619 |
| Semtech Corp.<sup>(b)(c)</sup> | 5674 | &nbsp;&nbsp; 289941 |
| SPS Commerce, Inc.<sup>(b)</sup> | 1684 | &nbsp;&nbsp; 183329 |
|  |  | &nbsp;&nbsp; 9609317 |
| **Materials-2.91%** | **Materials-2.91%** | **Materials-2.91%** |
| Century Aluminum Co.<sup>(b)</sup> | 37727 | &nbsp;&nbsp; 799058 |
| Hawkins, Inc.<sup>(c)</sup> | 6275 | &nbsp;&nbsp; 1024582 |
| Sylvamo Corp. | 8896 | &nbsp;&nbsp; 409839 |
| Warrior Met Coal, Inc.<sup>(c)</sup> | 12393 | &nbsp;&nbsp; 636752 |
|  |  | &nbsp;&nbsp; 2870231 |
| **Real Estate-3.97%** | **Real Estate-3.97%** | **Real Estate-3.97%** |
| Curbline Properties Corp. | 13371 | &nbsp;&nbsp; 295499 |
| DiamondRock Hospitality Co. | 95306 | &nbsp;&nbsp; 735762 |
| Essential Properties Realty Trust, Inc. | 12279 | &nbsp;&nbsp; 374387 |
| NexPoint Residential Trust, Inc. | 8587 | &nbsp;&nbsp; 267743 |
| Outfront Media, Inc.<sup>(c)</sup> | 20770 | &nbsp;&nbsp; 364098 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Real Estate-(continued)** | **Real Estate-(continued)** | **Real Estate-(continued)** |
| Ryman Hospitality Properties, Inc. | 6718 | &nbsp;&nbsp; $638613 |
| Sunstone Hotel Investors, Inc. | 65139 | &nbsp;&nbsp; 569966 |
| Xenia Hotels & Resorts, Inc. | 53164 | &nbsp;&nbsp; 675715 |
|  |  | &nbsp;&nbsp; 3921783 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks & Other Equity Interests <br>(Cost $87,942,898) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks & Other Equity Interests <br>(Cost $87,942,898) | &nbsp;&nbsp; 98660490 |
| **Money Market Funds-0.07%** | **Money Market Funds-0.07%** | **Money Market Funds-0.07%** |
| &nbsp;&nbsp;&nbsp; Invesco Government & Agency Portfolio, <br> Institutional Class, 4.25%<sup>(f)(g)</sup> <br>(Cost $71,454)<br>| 71454 | &nbsp;&nbsp; 71454 |
| &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES <br>(excluding investments purchased with cash collateral <br> from securities on loan)-100.02% <br>(Cost $88,014,352) | &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES <br>(excluding investments purchased with cash collateral <br> from securities on loan)-100.02% <br>(Cost $88,014,352) | &nbsp;&nbsp; 98731944 |
| **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-24.31%** | **Money Market Funds-24.31%** | **Money Market Funds-24.31%** |
| &nbsp;&nbsp;&nbsp; Invesco Private Government Fund, <br> 4.32%<sup>(f)(g)(h)</sup><br>| 6656468 | &nbsp;&nbsp; 6656468 |
| Invesco Private Prime Fund, 4.46%<sup>(f)(g)(h)</sup> | 17334474 | &nbsp;&nbsp; 17337941 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Investments Purchased with Cash Collateral from <br> Securities on Loan <br>(Cost $23,994,409) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Investments Purchased with Cash Collateral from <br> Securities on Loan <br>(Cost $23,994,409) | &nbsp;&nbsp; 23994409 |
| &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES-124.33% <br>(Cost $112,008,761) | &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES-124.33% <br>(Cost $112,008,761) | &nbsp;&nbsp; 122726353 |
| OTHER ASSETS LESS LIABILITIES-(24.33)% | OTHER ASSETS LESS LIABILITIES-(24.33)% | &nbsp;&nbsp; (24014291)<br>|
| NET ASSETS-100.00% | NET ASSETS-100.00% | &nbsp;&nbsp; $98712062 |

---

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

Investment Abbreviations: <br> Rts. -Rights

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

---

| | |
|:---|:---|
| Notes to Schedule of Investments: | Notes to Schedule of Investments: |
| <sup>(a)</sup> | Industry and/or sector classifications used in this report are generally according to the Global Industry Classification Standard, which was developed by and is <br> the exclusive property and a service mark of MSCI Inc. and Standard & Poor's.<br>|
| <sup>(b)</sup> | Non-income producing security. |
| <sup>(c)</sup> | All or a portion of this security was out on loan at July 31, 2025. |
| <sup>(d)</sup> | Security purchased or received in a transaction exempt from registration under the Securities Act of 1933, as amended (the "1933 Act"). The security may be <br> resold pursuant to an exemption from registration under the 1933 Act, typically to qualified institutional buyers. The value of this security at July 31, 2025 <br> represented less than 1% of the Fund's Net Assets.<br>|
| <sup>(e)</sup> | Security valued using significant unobservable inputs (Level 3). See Note 1. |
| <sup>(f)</sup> | Affiliated holding. Affiliated holdings are investments in entities which are under common ownership or control of Invesco Ltd. or are investments in entities in <br> which the Fund owns 5% or more of the outstanding voting securities. The table below shows the Fund's transactions in, and earnings from, its investments in <br> affiliates for the three months ended July 31, 2025.<br>|

---

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

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Value** <br>**April 30, 2025**<br>| **Purchases** <br>**at Cost**<br>| **Proceeds** <br>**from Sales**<br>| **Change in** <br>**Unrealized** <br>**Appreciation**<br>| **Realized** <br>**Gain** <br>**(Loss)**<br>| **Value** <br>**July 31, 2025**<br>| **Dividend Income** |
| **Investments in Affiliated Money** <br> **Market Funds:**<br>|  |  |  |  |  |  |  |
| &nbsp;&nbsp; Invesco Government & Agency <br> Portfolio, Institutional Class<br>| &nbsp;&nbsp;&nbsp; $36638 | &nbsp;&nbsp;&nbsp; $292335 | &nbsp;&nbsp;&nbsp; $(257519)<br>| &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $71454 | &nbsp;&nbsp;&nbsp; $416 |

---

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

------

**Invesco S&P SmallCap 600**<sup>®</sup> **Pure Growth ETF (RZG)—(continued)**

July 31, 2025

*(Unaudited)*

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Value**<br> **April 30, 2025**<br>| **Purchases**<br> **at Cost**<br>| **Proceeds**<br> **from Sales**<br>| **Change in**<br> **Unrealized**<br> **Appreciation**<br>| **Realized**<br> **Gain**<br> **(Loss)**<br>| **Value**<br> **July 31, 2025**<br>| **Dividend Income** |
| **Investments Purchased with** <br> **Cash Collateral from Securities** <br> **on Loan:**<br>|  |  |  |  |  |  |  |
| &nbsp;&nbsp; Invesco Private Government Fund | &nbsp;&nbsp;&nbsp; $9081744 | &nbsp;&nbsp;&nbsp; $9518741 | &nbsp;&nbsp;&nbsp; $(11944017)<br>| &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $6656468 | &nbsp;&nbsp;&nbsp; $80,783<br> \*<br>|
| &nbsp;&nbsp; Invesco Private Prime Fund | &nbsp;&nbsp;&nbsp; 23635923 | &nbsp;&nbsp;&nbsp; 21898381 | &nbsp;&nbsp;&nbsp; (28196528)<br>| &nbsp;&nbsp;&nbsp; 1819 | &nbsp;&nbsp;&nbsp; (1654)<br>| &nbsp;&nbsp;&nbsp; 17337941 | &nbsp;&nbsp;&nbsp; 217,777<br> \*<br>|
| &nbsp;&nbsp; Total | &nbsp;&nbsp;&nbsp; $32754305 | &nbsp;&nbsp;&nbsp; $31709457 | &nbsp;&nbsp;&nbsp; $(40398064)<br>| &nbsp;&nbsp;&nbsp; $1819 | &nbsp;&nbsp;&nbsp; $(1654)<br>| &nbsp;&nbsp;&nbsp; $24065863 | &nbsp;&nbsp;&nbsp; $298976 |

---

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

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

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

------

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

**Invesco S&P SmallCap 600**<sup>®</sup> **Pure Value ETF (RZV)**

July 31, 2025

*(Unaudited)*

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

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Common Stocks & Other Equity Interests-99.96%** | **Common Stocks & Other Equity Interests-99.96%** | **Common Stocks & Other Equity Interests-99.96%** |
| **Communication Services-4.39%** | **Communication Services-4.39%** | **Communication Services-4.39%** |
| Angi, Inc.<sup>(b)(c)</sup> | 109255 | &nbsp;&nbsp; $1772116 |
| IAC, Inc.<sup>(b)(c)</sup> | 37774 | &nbsp;&nbsp; 1484518 |
| Scholastic Corp.<sup>(c)</sup> | 99460 | &nbsp;&nbsp; 2453678 |
| Shenandoah Telecommunications Co.<sup>(c)</sup> | 77013 | &nbsp;&nbsp; 1130551 |
| TEGNA, Inc. | 54211 | &nbsp;&nbsp; 905324 |
| Telephone and Data Systems, Inc.<sup>(c)</sup> | 31364 | &nbsp;&nbsp; 1224451 |
|  |  | &nbsp;&nbsp; 8970638 |
| **Consumer Discretionary-26.13%** | **Consumer Discretionary-26.13%** | **Consumer Discretionary-26.13%** |
| Academy Sports & Outdoors, Inc.<sup>(c)</sup> | 18142 | &nbsp;&nbsp; 921432 |
| Adient PLC<sup>(b)</sup> | 174845 | &nbsp;&nbsp; 3748677 |
| Advance Auto Parts, Inc.<sup>(c)</sup> | 64831 | &nbsp;&nbsp; 3440581 |
| &nbsp;&nbsp;&nbsp; American Axle & Manufacturing Holdings, <br> Inc.<sup>(b)(c)</sup><br>| 362854 | &nbsp;&nbsp; 1614700 |
| Asbury Automotive Group, Inc.<sup>(b)(c)</sup> | 9050 | &nbsp;&nbsp; 2010186 |
| Bloomin' Brands, Inc. | 105211 | &nbsp;&nbsp; 958472 |
| BorgWarner, Inc. | 66960 | &nbsp;&nbsp; 2464128 |
| Caleres, Inc.<sup>(c)</sup> | 70180 | &nbsp;&nbsp; 963571 |
| Century Communities, Inc. | 17304 | &nbsp;&nbsp; 974042 |
| Cracker Barrel Old Country Store, Inc.<sup>(c)</sup> | 28865 | &nbsp;&nbsp; 1789630 |
| Dana, Inc. | 217237 | &nbsp;&nbsp; 3458413 |
| Foot Locker, Inc.<sup>(b)(c)</sup> | 132684 | &nbsp;&nbsp; 3322407 |
| Fox Factory Holding Corp.<sup>(b)</sup> | 26228 | &nbsp;&nbsp; 796544 |
| G-III Apparel Group Ltd.<sup>(b)</sup> | 74630 | &nbsp;&nbsp; 1761268 |
| Guess?, Inc.<sup>(c)</sup> | 134970 | &nbsp;&nbsp; 1754610 |
| Helen of Troy Ltd.<sup>(b)</sup> | 16929 | &nbsp;&nbsp; 372100 |
| Kohl's Corp.<sup>(c)</sup> | 249381 | &nbsp;&nbsp; 2703290 |
| LGI Homes, Inc.<sup>(b)(c)</sup> | 6479 | &nbsp;&nbsp; 345136 |
| MarineMax, Inc.<sup>(b)(c)</sup> | 109040 | &nbsp;&nbsp; 2473027 |
| Meritage Homes Corp. | 7091 | &nbsp;&nbsp; 477508 |
| Monro, Inc.<sup>(c)</sup> | 39004 | &nbsp;&nbsp; 549761 |
| National Vision Holdings, Inc.<sup>(b)</sup> | 150222 | &nbsp;&nbsp; 3644386 |
| Newell Brands, Inc. | 106539 | &nbsp;&nbsp; 597684 |
| PENN Entertainment, Inc.<sup>(b)</sup> | 74055 | &nbsp;&nbsp; 1337433 |
| Sally Beauty Holdings, Inc.<sup>(b)(c)</sup> | 121162 | &nbsp;&nbsp; 1180118 |
| Shoe Carnival, Inc. | 25959 | &nbsp;&nbsp; 531121 |
| Signet Jewelers Ltd. | 7446 | &nbsp;&nbsp; 588979 |
| Sonic Automotive, Inc., Class A | 28427 | &nbsp;&nbsp; 2056694 |
| Standard Motor Products, Inc.<sup>(c)</sup> | 54080 | &nbsp;&nbsp; 1641869 |
| Topgolf Callaway Brands Corp.<sup>(b)(c)</sup> | 393194 | &nbsp;&nbsp; 3637045 |
| Upbound Group, Inc. | 29529 | &nbsp;&nbsp; 609331 |
| Winnebago Industries, Inc.<sup>(c)</sup> | 21959 | &nbsp;&nbsp; 652622 |
|  |  | &nbsp;&nbsp; 53376765 |
| **Consumer Staples-10.78%** | **Consumer Staples-10.78%** | **Consumer Staples-10.78%** |
| Andersons, Inc. (The) | 56532 | &nbsp;&nbsp; 2030629 |
| B&G Foods, Inc.<sup>(c)</sup> | 447551 | &nbsp;&nbsp; 1834959 |
| Central Garden & Pet Co.<sup>(b)(c)</sup> | 4135 | &nbsp;&nbsp; 161348 |
| Central Garden & Pet Co., Class A<sup>(b)</sup> | 22567 | &nbsp;&nbsp; 801580 |
| Edgewell Personal Care Co.<sup>(c)</sup> | 32603 | &nbsp;&nbsp; 822574 |
| Fresh Del Monte Produce, Inc. | 85981 | &nbsp;&nbsp; 3232026 |
| Grocery Outlet Holding Corp.<sup>(b)</sup> | 66380 | &nbsp;&nbsp; 874225 |
| MGP Ingredients, Inc. | 17184 | &nbsp;&nbsp; 485963 |
| PriceSmart, Inc. | 8220 | &nbsp;&nbsp; 883650 |
| SpartanNash Co. | 171955 | &nbsp;&nbsp; 4563686 |
| TreeHouse Foods, Inc.<sup>(b)(c)</sup> | 44729 | &nbsp;&nbsp; 859691 |
| United Natural Foods, Inc.<sup>(b)</sup> | 101844 | &nbsp;&nbsp; 2814968 |
| Universal Corp. | 36749 | &nbsp;&nbsp; 2001718 |
| USANA Health Sciences, Inc.<sup>(b)</sup> | 22120 | &nbsp;&nbsp; 650107 |
|  |  | &nbsp;&nbsp; 22017124 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Energy-11.81%** | **Energy-11.81%** | **Energy-11.81%** |
| Bristow Group, Inc.<sup>(b)</sup> | 28662 | &nbsp;&nbsp; $990845 |
| Crescent Energy Co., Class A | 136666 | &nbsp;&nbsp; 1262794 |
| CVR Energy, Inc.<sup>(c)</sup> | 84196 | &nbsp;&nbsp; 2254769 |
| Dorian LPG Ltd. | 34586 | &nbsp;&nbsp; 995731 |
| Innovex International, Inc.<sup>(b)(c)</sup> | 114278 | &nbsp;&nbsp; 1876445 |
| Par Pacific Holdings, Inc.<sup>(b)</sup> | 208678 | &nbsp;&nbsp; 6548315 |
| Patterson-UTI Energy, Inc. | 171468 | &nbsp;&nbsp; 1013376 |
| Peabody Energy Corp.<sup>(c)</sup> | 92438 | &nbsp;&nbsp; 1492874 |
| ProPetro Holding Corp.<sup>(b)</sup> | 126683 | &nbsp;&nbsp; 679021 |
| REX American Resources Corp.<sup>(b)</sup> | 15007 | &nbsp;&nbsp; 784566 |
| Talos Energy, Inc.<sup>(b)</sup> | 182898 | &nbsp;&nbsp; 1563778 |
| Vital Energy, Inc.<sup>(b)(c)</sup> | 79209 | &nbsp;&nbsp; 1480416 |
| World Kinect Corp.<sup>(c)</sup> | 116597 | &nbsp;&nbsp; 3179600 |
|  |  | &nbsp;&nbsp; 24122530 |
| **Financials-16.35%** | **Financials-16.35%** | **Financials-16.35%** |
| Apollo Commercial Real Estate Finance, Inc. | 88001 | &nbsp;&nbsp; 846570 |
| ARMOUR Residential REIT, Inc. | 50612 | &nbsp;&nbsp; 825482 |
| Bread Financial Holdings, Inc. | 17959 | &nbsp;&nbsp; 1100887 |
| Brookline Bancorp, Inc. | 58509 | &nbsp;&nbsp; 603813 |
| Capitol Federal Financial, Inc. | 118490 | &nbsp;&nbsp; 713310 |
| Eagle Bancorp, Inc.<sup>(c)</sup> | 35011 | &nbsp;&nbsp; 563327 |
| Ellington Financial, Inc. | 64708 | &nbsp;&nbsp; 821145 |
| Encore Capital Group, Inc.<sup>(b)(c)</sup> | 13656 | &nbsp;&nbsp; 503633 |
| EZCORP, Inc., Class A<sup>(b)(c)</sup> | 166473 | &nbsp;&nbsp; 2383893 |
| Franklin BSP Realty Trust, Inc. | 55877 | &nbsp;&nbsp; 564358 |
| Genworth Financial, Inc., Class A<sup>(b)</sup> | 380533 | &nbsp;&nbsp; 2990989 |
| Hilltop Holdings, Inc. | 27384 | &nbsp;&nbsp; 810566 |
| Hope Bancorp, Inc. | 84724 | &nbsp;&nbsp; 846393 |
| Horace Mann Educators Corp. | 15478 | &nbsp;&nbsp; 658279 |
| Jackson Financial, Inc., Class A | 11674 | &nbsp;&nbsp; 1022175 |
| KKR Real Estate Finance Trust, Inc. | 64004 | &nbsp;&nbsp; 578596 |
| Lincoln National Corp. | 85355 | &nbsp;&nbsp; 3252879 |
| Navient Corp.<sup>(c)</sup> | 99994 | &nbsp;&nbsp; 1293922 |
| New York Mortgage Trust, Inc. | 183693 | &nbsp;&nbsp; 1162777 |
| PennyMac Mortgage Investment Trust<sup>(c)</sup> | 94018 | &nbsp;&nbsp; 1108472 |
| PRA Group, Inc.<sup>(b)</sup> | 97495 | &nbsp;&nbsp; 1481924 |
| ProAssurance Corp.<sup>(b)</sup> | 130049 | &nbsp;&nbsp; 3089964 |
| Ready Capital Corp.<sup>(c)</sup> | 115685 | &nbsp;&nbsp; 487034 |
| Redwood Trust, Inc.<sup>(c)</sup> | 141489 | &nbsp;&nbsp; 772530 |
| Renasant Corp. | 21978 | &nbsp;&nbsp; 805274 |
| Simmons First National Corp., Class A | 30356 | &nbsp;&nbsp; 581925 |
| SiriusPoint Ltd. (Sweden)<sup>(b)</sup> | 76938 | &nbsp;&nbsp; 1508754 |
| Stewart Information Services Corp. | 8865 | &nbsp;&nbsp; 575605 |
| &nbsp;&nbsp;&nbsp; United Fire Group, Inc., (Acquired <br> 12/15/2021 - 07/23/2025; <br> Cost $1,311,865)<sup>(d)</sup><br>| 54768 | &nbsp;&nbsp; 1454090 |
|  |  | &nbsp;&nbsp; 33408566 |
| **Health Care-4.79%** | **Health Care-4.79%** | **Health Care-4.79%** |
| AdaptHealth Corp.<sup>(b)(c)</sup> | 232152 | &nbsp;&nbsp; 2082403 |
| AMN Healthcare Services, Inc.<sup>(b)</sup> | 101163 | &nbsp;&nbsp; 1855329 |
| Avanos Medical, Inc.<sup>(b)</sup> | 86829 | &nbsp;&nbsp; 969880 |
| Enovis Corp.<sup>(b)(c)</sup> | 31786 | &nbsp;&nbsp; 851865 |
| Fortrea Holdings, Inc.<sup>(b)</sup> | 50066 | &nbsp;&nbsp; 287379 |
| Neogen Corp.<sup>(b)(c)</sup> | 71943 | &nbsp;&nbsp; 334535 |
| Owens & Minor, Inc.<sup>(b)(c)</sup> | 167927 | &nbsp;&nbsp; 1163734 |
| Pacira BioSciences, Inc.<sup>(b)(c)</sup> | 32130 | &nbsp;&nbsp; 677622 |
| Select Medical Holdings Corp. | 106420 | &nbsp;&nbsp; 1573952 |
|  |  | &nbsp;&nbsp; 9796699 |
| **Industrials-10.11%** | **Industrials-10.11%** | **Industrials-10.11%** |
| ABM Industries, Inc. | 23597 | &nbsp;&nbsp; 1088529 |

---

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

------

**Invesco S&P SmallCap 600**<sup>®</sup> **Pure Value ETF (RZV)—(continued)**

July 31, 2025

*(Unaudited)*

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Industrials-(continued)** | **Industrials-(continued)** | **Industrials-(continued)** |
| Air Lease Corp., Class A | 28105 | &nbsp;&nbsp; $1557017 |
| Allegiant Travel Co.<sup>(b)(c)</sup> | 16567 | &nbsp;&nbsp; 855520 |
| American Woodmark Corp.<sup>(b)</sup> | 9297 | &nbsp;&nbsp; 489115 |
| ArcBest Corp. | 6525 | &nbsp;&nbsp; 477173 |
| Astec Industries, Inc. | 24242 | &nbsp;&nbsp; 961438 |
| Deluxe Corp. | 57361 | &nbsp;&nbsp; 923512 |
| Enviri Corp.<sup>(b)(c)</sup> | 298586 | &nbsp;&nbsp; 2687274 |
| Healthcare Services Group, Inc.<sup>(b)</sup> | 83777 | &nbsp;&nbsp; 1089939 |
| Heartland Express, Inc. | 61818 | &nbsp;&nbsp; 483417 |
| JetBlue Airways Corp.<sup>(b)(c)</sup> | 332859 | &nbsp;&nbsp; 1477894 |
| MasterBrand, Inc.<sup>(b)(c)</sup> | 37527 | &nbsp;&nbsp; 413923 |
| Matthews International Corp., Class A<sup>(c)</sup> | 25006 | &nbsp;&nbsp; 587391 |
| MillerKnoll, Inc.<sup>(c)</sup> | 61420 | &nbsp;&nbsp; 1165751 |
| Resideo Technologies, Inc.<sup>(b)(c)</sup> | 43206 | &nbsp;&nbsp; 1179524 |
| Sun Country Airlines Holdings, Inc.<sup>(b)</sup> | 63018 | &nbsp;&nbsp; 730378 |
| Sunrun, Inc.<sup>(b)(c)</sup> | 124261 | &nbsp;&nbsp; 1274918 |
| Titan International, Inc.<sup>(b)</sup> | 379771 | &nbsp;&nbsp; 3212863 |
|  |  | &nbsp;&nbsp; 20655576 |
| **Information Technology-5.30%** | **Information Technology-5.30%** | **Information Technology-5.30%** |
| Corsair Gaming, Inc.<sup>(b)(c)</sup> | 135508 | &nbsp;&nbsp; 1227702 |
| DXC Technology Co.<sup>(b)</sup> | 107780 | &nbsp;&nbsp; 1466886 |
| Insight Enterprises, Inc.<sup>(b)</sup> | 3833 | &nbsp;&nbsp; 454517 |
| ScanSource, Inc.<sup>(b)</sup> | 38912 | &nbsp;&nbsp; 1511342 |
| Viasat, Inc.<sup>(b)</sup> | 303077 | &nbsp;&nbsp; 4979555 |
| Vishay Intertechnology, Inc.<sup>(c)</sup> | 52125 | &nbsp;&nbsp; 854329 |
| Xerox Holdings Corp.<sup>(c)</sup> | 82874 | &nbsp;&nbsp; 335640 |
|  |  | &nbsp;&nbsp; 10829971 |
| **Materials-5.96%** | **Materials-5.96%** | **Materials-5.96%** |
| AdvanSix, Inc. | 51523 | &nbsp;&nbsp; 1036643 |
| Celanese Corp.<sup>(c)</sup> | 31742 | &nbsp;&nbsp; 1657885 |
| Chemours Co. (The)<sup>(c)</sup> | 42359 | &nbsp;&nbsp; 507461 |
| FMC Corp. | 17648 | &nbsp;&nbsp; 688978 |
| Kaiser Aluminum Corp. | 16945 | &nbsp;&nbsp; 1310018 |
| Koppers Holdings, Inc. | 59545 | &nbsp;&nbsp; 1956649 |
| Metallus, Inc.<sup>(b)(c)</sup> | 100363 | &nbsp;&nbsp; 1585735 |
| O-I Glass, Inc.<sup>(b)(c)</sup> | 164949 | &nbsp;&nbsp; 2145986 |
| Stepan Co. | 10192 | &nbsp;&nbsp; 517448 |
| SunCoke Energy, Inc. | 103578 | &nbsp;&nbsp; 765441 |
|  |  | &nbsp;&nbsp; 12172244 |
| **Real Estate-3.98%** | **Real Estate-3.98%** | **Real Estate-3.98%** |
| Cushman & Wakefield PLC<sup>(b)</sup> | 105545 | &nbsp;&nbsp; 1286594 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Real Estate-(continued)** | **Real Estate-(continued)** | **Real Estate-(continued)** |
| Global Net Lease, Inc. | 134607 | &nbsp;&nbsp; $940903 |
| &nbsp;&nbsp;&nbsp; JBG SMITH Properties, (Acquired <br> 03/17/2023 - 07/23/2025; <br> Cost $823,005)<sup>(c)(d)</sup><br>| 56074 | &nbsp;&nbsp; 1187647 |
| Millrose Properties, Inc. | 92257 | &nbsp;&nbsp; 2766787 |
| Safehold, Inc.<sup>(c)</sup> | 62803 | &nbsp;&nbsp; 878614 |
| &nbsp;&nbsp;&nbsp; SITE Centers Corp., (Acquired 12/20/2024 - <br> 04/16/2025; Cost $1,542,161)<sup>(d)</sup><br>| 100091 | &nbsp;&nbsp; 1077980 |
|  |  | &nbsp;&nbsp; 8138525 |
| **Utilities-0.36%** | **Utilities-0.36%** | **Utilities-0.36%** |
| MDU Resources Group, Inc. | 42859 | &nbsp;&nbsp; 739318 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks & Other Equity Interests <br>(Cost $214,126,546) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks & Other Equity Interests <br>(Cost $214,126,546) | &nbsp;&nbsp; 204227956 |
| **Money Market Funds-0.01%** | **Money Market Funds-0.01%** | **Money Market Funds-0.01%** |
| &nbsp;&nbsp;&nbsp; Invesco Government & Agency Portfolio, <br> Institutional Class, 4.25%<sup>(e)(f)</sup> <br>(Cost $20,358)<br>| 20358 | &nbsp;&nbsp; 20358 |
| &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES <br>(excluding investments purchased with cash collateral <br> from securities on loan)-99.97% <br>(Cost $214,146,904) | &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES <br>(excluding investments purchased with cash collateral <br> from securities on loan)-99.97% <br>(Cost $214,146,904) | &nbsp;&nbsp; 204248314 |
| **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-31.89%** | **Money Market Funds-31.89%** | **Money Market Funds-31.89%** |
| &nbsp;&nbsp;&nbsp; Invesco Private Government Fund, <br> 4.32%<sup>(e)(f)(g)</sup><br>| 17966690 | &nbsp;&nbsp; 17966690 |
| Invesco Private Prime Fund, 4.46%<sup>(e)(f)(g)</sup> | 47173710 | &nbsp;&nbsp; 47183145 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Investments Purchased with Cash Collateral from <br> Securities on Loan <br>(Cost $65,149,835) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Investments Purchased with Cash Collateral from <br> Securities on Loan <br>(Cost $65,149,835) | &nbsp;&nbsp; 65149835 |
| &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES-131.86% <br>(Cost $279,296,739) | &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES-131.86% <br>(Cost $279,296,739) | &nbsp;&nbsp; 269398149 |
| OTHER ASSETS LESS LIABILITIES-(31.86)% | OTHER ASSETS LESS LIABILITIES-(31.86)% | &nbsp;&nbsp; (65095723)<br>|
| NET ASSETS-100.00% | NET ASSETS-100.00% | &nbsp;&nbsp; $204302426 |

---

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

------

**Invesco S&P SmallCap 600**<sup>®</sup> **Pure Value ETF (RZV)—(continued)**

July 31, 2025

*(Unaudited)*

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

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

---

| | |
|:---|:---|
| Notes to Schedule of Investments: | Notes to Schedule of Investments: |
| <sup>(a)</sup> | Industry and/or sector classifications used in this report are generally according to the Global Industry Classification Standard, which was developed by and is <br> the exclusive property and a service mark of MSCI Inc. and Standard & Poor's.<br>|
| <sup>(b)</sup> | Non-income producing security. |
| <sup>(c)</sup> | All or a portion of this security was out on loan at July 31, 2025. |
| <sup>(d)</sup> | Restricted security. The aggregate value of these securities at July 31, 2025 was $3,719,717, which represented 1.82% of the Fund's Net Assets. |
| <sup>(e)</sup> | Affiliated holding. Affiliated holdings are investments in entities which are under common ownership or control of Invesco Ltd. or are investments in entities in <br> which the Fund owns 5% or more of the outstanding voting securities. The table below shows the Fund's transactions in, and earnings from, its investments in <br> affiliates for the three months ended July 31, 2025.<br>|

---

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

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Value** <br>**April 30, 2025**<br>| **Purchases** <br>**at Cost**<br>| **Proceeds** <br>**from Sales**<br>| **Change in** <br>**Unrealized** <br>**Appreciation**<br>| **Realized** <br>**Gain** <br>**(Loss)**<br>| **Value** <br>**July 31, 2025**<br>| **Dividend Income** |
| **Investments in Affiliated Money** <br> **Market Funds:**<br>|  |  |  |  |  |  |  |
| &nbsp;&nbsp; Invesco Government & Agency <br> Portfolio, Institutional Class<br>| &nbsp;&nbsp;&nbsp; $161678 | &nbsp;&nbsp;&nbsp; $955044 | &nbsp;&nbsp;&nbsp; $(1096364)<br>| &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $20358 | &nbsp;&nbsp;&nbsp; $719 |
| **Investments Purchased with** <br> **Cash Collateral from Securities** <br> **on Loan:**<br>|  |  |  |  |  |  |  |
| &nbsp;&nbsp; Invesco Private Government Fund | &nbsp;&nbsp;&nbsp; 15876033 | &nbsp;&nbsp;&nbsp; 21983170 | &nbsp;&nbsp;&nbsp; (19892513)<br>| &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; 17966690 | &nbsp;&nbsp;&nbsp; 165,031<br> \*<br>|
| &nbsp;&nbsp; Invesco Private Prime Fund | &nbsp;&nbsp;&nbsp; 41336856 | &nbsp;&nbsp;&nbsp; 47835142 | &nbsp;&nbsp;&nbsp; (41988912)<br>| &nbsp;&nbsp;&nbsp; 2546 | &nbsp;&nbsp;&nbsp; (2487)<br>| &nbsp;&nbsp;&nbsp; 47183145 | &nbsp;&nbsp;&nbsp; 439,778<br> \*<br>|
| &nbsp;&nbsp; Total | &nbsp;&nbsp;&nbsp; $57374567 | &nbsp;&nbsp;&nbsp; $70773356 | &nbsp;&nbsp;&nbsp; $(62977789)<br>| &nbsp;&nbsp;&nbsp; $2546 | &nbsp;&nbsp;&nbsp; $(2487)<br>| &nbsp;&nbsp;&nbsp; $65170193 | &nbsp;&nbsp;&nbsp; $605528 |

---

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

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

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

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

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

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

------

**Notes to Quarterly Schedules of Portfolio Holdings**

July 31, 2025

*(Unaudited)*

**NOTE 1—Additional Valuation Information**

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

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

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

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

The following is a summary of the tiered valuation input levels, as of July 31, 2025, for each Fund (except for Invesco S&P 500<sup>®</sup> Top 50 ETF). As of July 31, 2025, all of the securities in Invesco S&P 500<sup>®</sup> Top 50 ETF were valued based on Level 1 inputs (see the Schedules of Investments for security categories). 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 S&P 500<sup>®</sup> Pure Growth ETF |  |  |  |  |
| **Investments in Securities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Common Stocks & Other Equity Interests | &nbsp;&nbsp;&nbsp; $1739667597 | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $1739667597 |
| &nbsp;&nbsp;&nbsp; Money Market Funds | &nbsp;&nbsp;&nbsp; 1535003 | &nbsp;&nbsp;&nbsp; 131647396 | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; 133182399 |
| **Total Investments** | &nbsp;&nbsp;&nbsp; $1741202600 | &nbsp;&nbsp;&nbsp; $131647396 | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $1872849996 |
| &nbsp;&nbsp; Invesco S&P 500<sup>®</sup> Pure Value ETF |  |  |  |  |
| **Investments in Securities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Common Stocks & Other Equity Interests | &nbsp;&nbsp;&nbsp; $1334618561 | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $1334618561 |
| &nbsp;&nbsp;&nbsp; Money Market Funds | &nbsp;&nbsp;&nbsp; 126482 | &nbsp;&nbsp;&nbsp; 28625455 | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; 28751937 |
| **Total Investments** | &nbsp;&nbsp;&nbsp; $1334745043 | &nbsp;&nbsp;&nbsp; $28625455 | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $1363370498 |
| &nbsp;&nbsp; Invesco S&P MidCap 400<sup>®</sup> Pure Growth ETF |  |  |  |  |
| **Investments in Securities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Common Stocks & Other Equity Interests | &nbsp;&nbsp;&nbsp; $298613908 | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $298613908 |
| &nbsp;&nbsp;&nbsp; Money Market Funds | &nbsp;&nbsp;&nbsp; 12060 | &nbsp;&nbsp;&nbsp; 51012963 | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; 51025023 |
| **Total Investments** | &nbsp;&nbsp;&nbsp; $298625968 | &nbsp;&nbsp;&nbsp; $51012963 | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $349638931 |
| &nbsp;&nbsp; Invesco S&P MidCap 400<sup>®</sup> Pure Value ETF |  |  |  |  |
| **Investments in Securities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Common Stocks & Other Equity Interests | &nbsp;&nbsp;&nbsp; $256767473 | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $256767473 |
| &nbsp;&nbsp;&nbsp; Money Market Funds | &nbsp;&nbsp;&nbsp; 197553 | &nbsp;&nbsp;&nbsp; 52935112 | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; 53132665 |
| **Total Investments** | &nbsp;&nbsp;&nbsp; $256965026 | &nbsp;&nbsp;&nbsp; $52935112 | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $309900138 |
| &nbsp;&nbsp; Invesco S&P SmallCap 600<sup>®</sup> Pure Growth ETF |  |  |  |  |
| **Investments in Securities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Common Stocks & Other Equity Interests | &nbsp;&nbsp;&nbsp; $98660490 | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $0 | &nbsp;&nbsp;&nbsp; $98660490 |
| &nbsp;&nbsp;&nbsp; Money Market Funds | &nbsp;&nbsp;&nbsp; 71454 | &nbsp;&nbsp;&nbsp; 23994409 | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; 24065863 |
| **Total Investments** | &nbsp;&nbsp;&nbsp; $98731944 | &nbsp;&nbsp;&nbsp; $23994409 | &nbsp;&nbsp;&nbsp; $0 | &nbsp;&nbsp;&nbsp; $122726353 |

---

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Level 1** | **Level 2** | **Level 3** | **Total** |
| &nbsp;&nbsp; Invesco S&P SmallCap 600<sup>®</sup> Pure Value ETF |  |  |  |  |
| **Investments in Securities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Common Stocks & Other Equity Interests | &nbsp;&nbsp;&nbsp; $204227956 | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $204227956 |
| &nbsp;&nbsp;&nbsp; Money Market Funds | &nbsp;&nbsp;&nbsp; 20358 | &nbsp;&nbsp;&nbsp; 65149835 | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; 65170193 |
| **Total Investments** | &nbsp;&nbsp;&nbsp; $204248314 | &nbsp;&nbsp;&nbsp; $65149835 | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $269398149 |

---

------

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

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

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

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

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

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

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

  - **City:** Downers Grove

  - **State:** IL

  - **Foreign country:** US

  - **Zip / Postal Code:** 60515

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

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

- **a. Name of Series:** Invesco S&P Smallcap 600 Pure Value ETF

- **b. EDGAR series identifier (if any):** S000060800

- **c. LEI of Series:** 549300EK5R1YJWK81Q19

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

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

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

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $269515143.70

**Total Liabilities:** $65212717.43

**Net Assets:** $204302426.27

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000197616 | 6.71%                | 6.68%                | 1.64%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $159699.96               | $11978340.87                               |
| Month 2  | $86771.01                | $12492271.95                               |
| Month 3  | $89206.69                | $3049482.00                                |

### Schedule of Portfolio Investments

| Name                                         | Title                                                      | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| United Fire Group, Inc.                      | United Fire Group, Inc.                                    | CUSIP: 910340108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     54768 | NS      | $1454090.40   | 0.71%             |  |  |  | Yes           |                  1 | On Loan: No      |
| BorgWarner Inc.                              | BorgWarner Inc.                                            | CUSIP: 099724106<br>LEI: 549300DSFX2IE88NSX47 | Long             | EC               | CORP              | US        |     66960 | NS      | $2464128.00   | 1.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Jackson Financial Inc.                       | Jackson Financial Inc., Class A                            | CUSIP: 46817M107<br>LEI: 213800WXW2KG1N4CO374 | Long             | EC               | CORP              | US        |     11674 | NS      | $1022175.44   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Bread Financial Holdings, Inc.               | Bread Financial Holdings, Inc.                             | CUSIP: 018581108<br>LEI: 549300G8S4PO686J7H97 | Long             | EC               | CORP              | US        |     17959 | NS      | $1100886.70   | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Innovex International, Inc.                  | Innovex International, Inc.                                | CUSIP: 457651107<br>LEI: 5299007REICYIJNMW197 | Long             | EC               | CORP              | US        |    114278 | NS      | $1876444.76   | 0.92%             |  |  |  | No            |                  1 | On Loan: —       |
| Astec Industries, Inc.                       | Astec Industries, Inc.                                     | CUSIP: 046224101<br>LEI: 5493002DO2QKHLKB2A48 | Long             | EC               | CORP              | US        |     24242 | NS      | $961437.72    | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Healthcare Services Group, Inc.              | Healthcare Services Group, Inc.                            | CUSIP: 421906108<br>LEI: 529900GVZ1D2FBYMS719 | Long             | EC               | CORP              | US        |     83777 | NS      | $1089938.77   | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Metallus Inc.                                | Metallus Inc.                                              | CUSIP: 887399103<br>LEI: 549300QZTZWHDE9HJL14 | Long             | EC               | CORP              | US        |    100363 | NS      | $1585735.40   | 0.78%             |  |  |  | No            |                  1 | On Loan: —       |
| Fortrea Holdings Inc.                        | Fortrea Holdings Inc.                                      | CUSIP: 34965K107<br>LEI: 5493000FIVFABOVCDU97 | Long             | EC               | CORP              | US        |     50066 | NS      | $287378.84    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Grocery Outlet Holding Corp.                 | Grocery Outlet Holding Corp.                               | CUSIP: 39874R101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     66380 | NS      | $874224.60    | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| TreeHouse Foods, Inc.                        | TreeHouse Foods, Inc.                                      | CUSIP: 89469A104<br>LEI: 5493007M7EVHE470Q576 | Long             | EC               | CORP              | US        |     44729 | NS      | $859691.38    | 0.42%             |  |  |  | No            |                  1 | On Loan: —       |
| Dana Inc.                                    | Dana Inc.                                                  | CUSIP: 235825205<br>LEI: KVWHW7YLZPFJM8QYNJ51 | Long             | EC               | CORP              | US        |    217237 | NS      | $3458413.04   | 1.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Kohl's Corp.                                 | Kohl's Corp.                                               | CUSIP: 500255104<br>LEI: 549300JF6LPRTRJ0FH50 | Long             | EC               | CORP              | US        |    249381 | NS      | $2703290.04   | 1.32%             |  |  |  | No            |                  1 | On Loan: —       |
| Corsair Gaming, Inc.                         | Corsair Gaming, Inc.                                       | CUSIP: 22041X102<br>LEI: 549300Y7YT18L8G0H525 | Long             | EC               | CORP              | US        |    135508 | NS      | $1227702.48   | 0.60%             |  |  |  | No            |                  1 | On Loan: —       |
| Upbound Group, Inc.                          | Upbound Group, Inc.                                        | CUSIP: 76009N100<br>LEI: 529900QUHE15UQNCCJ63 | Long             | EC               | CORP              | US        |     29529 | NS      | $609330.92    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Matthews International Corp.                 | Matthews International Corp., Class A                      | CUSIP: 577128101<br>LEI: 549300ZVC5O0ATML6U61 | Long             | EC               | CORP              | US        |     25006 | NS      | $587390.94    | 0.29%             |  |  |  | No            |                  1 | On Loan: —       |
| Asbury Automotive Group, Inc.                | Asbury Automotive Group, Inc.                              | CUSIP: 043436104<br>LEI: 549300JH4DTA7U42GL91 | Long             | EC               | CORP              | US        |      9050 | NS      | $2010186.00   | 0.98%             |  |  |  | No            |                  1 | On Loan: —       |
| Neogen Corp.                                 | Neogen Corp.                                               | CUSIP: 640491106<br>LEI: 549300HJT9FC36N4UW43 | Long             | EC               | CORP              | US        |     71943 | NS      | $334534.95    | 0.16%             |  |  |  | No            |                  1 | On Loan: —       |
| G-III Apparel Group, Ltd.                    | G-III Apparel Group, Ltd.                                  | CUSIP: 36237H101<br>LEI: 529900O5KABM3R3SFM87 | Long             | EC               | CORP              | US        |     74630 | NS      | $1761268.00   | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Brookline Bancorp, Inc.                      | Brookline Bancorp, Inc.                                    | CUSIP: 11373M107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     58509 | NS      | $603812.88    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Allegiant Travel Co.                         | Allegiant Travel Co.                                       | CUSIP: 01748X102<br>LEI: 549300JM9OZXOHWL2K18 | Long             | EC               | CORP              | US        |     16567 | NS      | $855519.88    | 0.42%             |  |  |  | No            |                  1 | On Loan: —       |
| EZCORP, Inc.                                 | EZCORP, Inc., Class A                                      | CUSIP: 302301106<br>LEI: 5493003K6PG3ZQ7TUQ63 | Long             | EC               | CORP              | US        |    166473 | NS      | $2383893.36   | 1.17%             |  |  |  | No            |                  1 | On Loan: —       |
| DXC Technology Co.                           | DXC Technology Co.                                         | CUSIP: 23355L106<br>LEI: 549300DOVZ3EDJB7O259 | Long             | EC               | CORP              | US        |    107780 | NS      | $1466885.80   | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| JetBlue Airways Corp.                        | JetBlue Airways Corp.                                      | CUSIP: 477143101<br>LEI: 54930070J9H97ZO93T57 | Long             | EC               | CORP              | US        |    332859 | NS      | $1477893.96   | 0.72%             |  |  |  | No            |                  1 | On Loan: —       |
| SiriusPoint Ltd.                             | SiriusPoint Ltd.                                           | CUSIP: G8192H106<br>LEI: 549300OGXFI85N3YZZ51 | Long             | EC               | CORP              | BM        |     76938 | NS      | $1508754.18   | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Vishay Intertechnology, Inc.                 | Vishay Intertechnology, Inc.                               | CUSIP: 928298108<br>LEI: 5493009O8F3QQJTCQR75 | Long             | EC               | CORP              | US        |     52125 | NS      | $854328.75    | 0.42%             |  |  |  | No            |                  1 | On Loan: —       |
| LGI Homes, Inc.                              | LGI Homes, Inc.                                            | CUSIP: 50187T106<br>LEI: 549300W02B4WNV8CV109 | Long             | EC               | CORP              | US        |      6479 | NS      | $345136.33    | 0.17%             |  |  |  | No            |                  1 | On Loan: —       |
| PRA Group, Inc.                              | PRA Group, Inc.                                            | CUSIP: 69354N106<br>LEI: 549300Q5HW3JSSB86K27 | Long             | EC               | CORP              | US        |     97495 | NS      | $1481924.00   | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| ARMOUR Residential REIT, Inc.                | ARMOUR Residential REIT, Inc.                              | CUSIP: 042315705<br>LEI: 549300K0WA0EJUX74V72 | Long             | EC               | CORP              | US        |     50612 | NS      | $825481.72    | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| MillerKnoll, Inc.                            | MillerKnoll, Inc.                                          | CUSIP: 600544100<br>LEI: U98HXD3PNK7HYU2MU887 | Long             | EC               | CORP              | US        |     61420 | NS      | $1165751.60   | 0.57%             |  |  |  | No            |                  1 | On Loan: —       |
| Enovis Corp.                                 | Enovis Corp.                                               | CUSIP: 194014502<br>LEI: 635400OP2DYYYMOIYL17 | Long             | EC               | CORP              | US        |     31786 | NS      | $851864.80    | 0.42%             |  |  |  | No            |                  1 | On Loan: —       |
| Edgewell Personal Care Co.                   | Edgewell Personal Care Co.                                 | CUSIP: 28035Q102<br>LEI: 549300CY8QZDL4Z3RU59 | Long             | EC               | CORP              | US        |     32603 | NS      | $822573.69    | 0.40%             |  |  |  | No            |                  1 | On Loan: —       |
| Safehold Inc.                                | Safehold Inc.                                              | CUSIP: 78646V107<br>LEI: QFFLKWYYS3UPWD86E794 | Long             | EC               | CORP              | US        |     62803 | NS      | $878613.97    | 0.43%             |  |  |  | No            |                  1 | On Loan: —       |
| USANA Health Sciences, Inc.                  | USANA Health Sciences, Inc.                                | CUSIP: 90328M107<br>LEI: 549300YTURXE814MAH96 | Long             | EC               | CORP              | US        |     22120 | NS      | $650106.80    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| World Kinect Corp.                           | World Kinect Corp.                                         | CUSIP: 981475106<br>LEI: D3W7PCXCBRQLL17DZ313 | Long             | EC               | CORP              | US        |    116597 | NS      | $3179600.19   | 1.56%             |  |  |  | No            |                  1 | On Loan: —       |
| Enviri Corp.                                 | Enviri Corp.                                               | CUSIP: 415864107<br>LEI: KAO98FK89NPNNPQGUZ43 | Long             | EC               | CORP              | US        |    298586 | NS      | $2687274.00   | 1.32%             |  |  |  | No            |                  1 | On Loan: —       |
| Koppers Holdings Inc.                        | Koppers Holdings Inc.                                      | CUSIP: 50060P106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     59545 | NS      | $1956648.70   | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Select Medical Holdings Corp.                | Select Medical Holdings Corp.                              | CUSIP: 81619Q105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    106420 | NS      | $1573951.80   | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| MarineMax, Inc.                              | MarineMax, Inc.                                            | CUSIP: 567908108<br>LEI: 254900TIXTN8WY3FNN63 | Long             | EC               | CORP              | US        |    109040 | NS      | $2473027.20   | 1.21%             |  |  |  | No            |                  1 | On Loan: —       |
| Cushman & Wakefield PLC                      | Cushman & Wakefield PLC                                    | CUSIP: G2717B108<br>LEI: 9676003VT8I14HPZLX83 | Long             | EC               | CORP              | GB        |    105545 | NS      | $1286593.55   | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| AdvanSix Inc.                                | AdvanSix Inc.                                              | CUSIP: 00773T101<br>LEI: 5493009TPRODMCAZLF67 | Long             | EC               | CORP              | US        |     51523 | NS      | $1036642.76   | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| American Woodmark Corp.                      | American Woodmark Corp.                                    | CUSIP: 030506109<br>LEI: 5299007PFSDWMA74RB56 | Long             | EC               | CORP              | US        |      9297 | NS      | $489115.17    | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Caleres, Inc.                                | Caleres, Inc.                                              | CUSIP: 129500104<br>LEI: JFU6RQQJ8Z1CPOLBXQ18 | Long             | EC               | CORP              | US        |     70180 | NS      | $963571.40    | 0.47%             |  |  |  | No            |                  1 | On Loan: —       |
| Newell Brands Inc.                           | Newell Brands Inc.                                         | CUSIP: 651229106<br>LEI: 549300LWGYFM1TVO1Z12 | Long             | EC               | CORP              | US        |    106539 | NS      | $597683.79    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Owens & Minor, Inc.                          | Owens & Minor, Inc.                                        | CUSIP: 690732102<br>LEI: 549300LMT5KQQXCEZ733 | Long             | EC               | CORP              | US        |    167927 | NS      | $1163734.11   | 0.57%             |  |  |  | No            |                  1 | On Loan: —       |
| MGP Ingredients, Inc.                        | MGP Ingredients, Inc.                                      | CUSIP: 55303J106<br>LEI: 2549006OMHFVZ4MS8538 | Long             | EC               | CORP              | US        |     17184 | NS      | $485963.52    | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Simmons First National Corp.                 | Simmons First National Corp., Class A                      | CUSIP: 828730200<br>LEI: 549300IVR5AJKUVOGN05 | Long             | EC               | CORP              | US        |     30356 | NS      | $581924.52    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Standard Motor Products, Inc.                | Standard Motor Products, Inc.                              | CUSIP: 853666105<br>LEI: THGK1EO5B5HK0JHQVZ90 | Long             | EC               | CORP              | US        |     54080 | NS      | $1641868.80   | 0.80%             |  |  |  | No            |                  1 | On Loan: —       |
| Franklin BSP Realty Trust, Inc.              | Franklin BSP Realty Trust, Inc.                            | CUSIP: 35243J101<br>LEI: 549300LH3QNZK9Y1KC93 | Long             | EC               | CORP              | US        |     55877 | NS      | $564357.70    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Lincoln National Corp.                       | Lincoln National Corp.                                     | CUSIP: 534187109<br>LEI: EFQMQROEDSNBRIP7LE47 | Long             | EC               | CORP              | US        |     85355 | NS      | $3252879.05   | 1.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Ellington Financial Inc.                     | Ellington Financial Inc.                                   | CUSIP: 28852N109<br>LEI: 60GS1D1R1YY5G1W7IT74 | Long             | EC               | CORP              | US        |     64708 | NS      | $821144.52    | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Century Communities, Inc.                    | Century Communities, Inc.                                  | CUSIP: 156504300<br>LEI: 5299002QMB2O7ZL1CA26 | Long             | EC               | CORP              | US        |     17304 | NS      | $974042.16    | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| IAC Inc.                                     | IAC Inc.                                                   | CUSIP: 44891N208<br>LEI: 549300TO56L57RP6P031 | Long             | EC               | CORP              | US        |     37774 | NS      | $1484518.20   | 0.73%             |  |  |  | No            |                  1 | On Loan: —       |
| SpartanNash Co.                              | SpartanNash Co.                                            | CUSIP: 847215100<br>LEI: 549300TV3QCCSQLF5X16 | Long             | EC               | CORP              | US        |    171955 | NS      | $4563685.70   | 2.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Angi Inc.                                    | Angi Inc.                                                  | CUSIP: 00183L201<br>LEI: 5493003ENY577E6SZL06 | Long             | EC               | CORP              | US        |    109255 | NS      | $1772116.10   | 0.87%             |  |  |  | No            |                  1 | On Loan: —       |
| Vital Energy, Inc.                           | Vital Energy, Inc.                                         | CUSIP: 516806205<br>LEI: 549300X0PTWU2QSLSL14 | Long             | EC               | CORP              | US        |     79209 | NS      | $1480416.21   | 0.72%             |  |  |  | No            |                  1 | On Loan: —       |
| Peabody Energy Corp.                         | Peabody Energy Corp.                                       | CUSIP: 704551100<br>LEI: EJCO258LNNVSKAR2JX59 | Long             | EC               | CORP              | US        |     92438 | NS      | $1492873.70   | 0.73%             |  |  |  | No            |                  1 | On Loan: —       |
| Foot Locker, Inc.                            | Foot Locker, Inc.                                          | CUSIP: 344849104<br>LEI: 549300X383CBNP6MTV94 | Long             | EC               | CORP              | US        |    132684 | NS      | $3322407.36   | 1.63%             |  |  |  | No            |                  1 | On Loan: —       |
| JBG SMITH Properties                         | JBG SMITH Properties                                       | CUSIP: 46590V100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     56074 | NS      | $1187647.32   | 0.58%             |  |  |  | Yes           |                  1 | On Loan: —       |
| Stepan Co.                                   | Stepan Co.                                                 | CUSIP: 858586100<br>LEI: IZU1EW9GB3WC7CYCSR17 | Long             | EC               | CORP              | US        |     10192 | NS      | $517447.84    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| MDU Resources Group, Inc.                    | MDU Resources Group, Inc.                                  | CUSIP: 552690109<br>LEI: 549300MA0UV6AI6SNV27 | Long             | EC               | CORP              | US        |     42859 | NS      | $739317.75    | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Par Pacific Holdings, Inc.                   | Par Pacific Holdings, Inc.                                 | CUSIP: 69888T207<br>LEI: 549300BTNS7MHSHRLR55 | Long             | EC               | CORP              | US        |    208678 | NS      | $6548315.64   | 3.21%             |  |  |  | No            |                  1 | On Loan: No      |
| PennyMac Mortgage Investment Trust           | PennyMac Mortgage Investment Trust                         | CUSIP: 70931T103<br>LEI: 549300BSSOQO1ZWDUJ97 | Long             | EC               | CORP              | US        |     94018 | NS      | $1108472.22   | 0.54%             |  |  |  | No            |                  1 | On Loan: —       |
| Horace Mann Educators Corp.                  | Horace Mann Educators Corp.                                | CUSIP: 440327104<br>LEI: 254900G5YAV3A2YK8T32 | Long             | EC               | CORP              | US        |     15478 | NS      | $658279.34    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Sunrun Inc.                                  | Sunrun Inc.                                                | CUSIP: 86771W105<br>LEI: 54930007SJ77CI66U531 | Long             | EC               | CORP              | US        |    124261 | NS      | $1274917.86   | 0.62%             |  |  |  | No            |                  1 | On Loan: —       |
| Shenandoah Telecommunications Co.            | Shenandoah Telecommunications Co.                          | CUSIP: 82312B106<br>LEI: 549300XH3H4OUKFPHS84 | Long             | EC               | CORP              | US        |     77013 | NS      | $1130550.84   | 0.55%             |  |  |  | No            |                  1 | On Loan: —       |
| American Axle & Manufacturing Holdings, Inc. | American Axle & Manufacturing Holdings, Inc.               | CUSIP: 024061103<br>LEI: 254900SMQY98VFKNCC32 | Long             | EC               | CORP              | US        |    362854 | NS      | $1614700.30   | 0.79%             |  |  |  | No            |                  1 | On Loan: —       |
| KKR Real Estate Finance Trust Inc.           | KKR Real Estate Finance Trust Inc.                         | CUSIP: 48251K100<br>LEI: 549300K23AYZDZ2REL62 | Long             | EC               | CORP              | US        |     64004 | NS      | $578596.16    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| United Natural Foods, Inc.                   | United Natural Foods, Inc.                                 | CUSIP: 911163103<br>LEI: 549300GKGW6WPZ282D40 | Long             | EC               | CORP              | US        |    101844 | NS      | $2814968.16   | 1.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Avanos Medical, Inc.                         | Avanos Medical, Inc.                                       | CUSIP: 05350V106<br>LEI: 549300YCXWOM7NEWMQ58 | Long             | EC               | CORP              | US        |     86829 | NS      | $969879.93    | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Encore Capital Group, Inc.                   | Encore Capital Group, Inc.                                 | CUSIP: 292554102<br>LEI: 5493000UVC6H49CIH830 | Long             | EC               | CORP              | US        |     13656 | NS      | $503633.28    | 0.25%             |  |  |  | No            |                  1 | On Loan: —       |
| Ready Capital Corp.                          | Ready Capital Corp.                                        | CUSIP: 75574U101<br>LEI: 549300MYWGZUG7ZUYO87 | Long             | EC               | CORP              | US        |    115685 | NS      | $487033.85    | 0.24%             |  |  |  | No            |                  1 | On Loan: —       |
| Titan International, Inc.                    | Titan International, Inc.                                  | CUSIP: 88830M102<br>LEI: 254900CXRGBE7C4B5A06 | Long             | EC               | CORP              | US        |    379771 | NS      | $3212862.66   | 1.57%             |  |  |  | No            |                  1 | On Loan: No      |
| National Vision Holdings, Inc.               | National Vision Holdings, Inc.                             | CUSIP: 63845R107<br>LEI: 549300JHURCBLI5ROA42 | Long             | EC               | CORP              | US        |    150222 | NS      | $3644385.72   | 1.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Adient PLC                                   | Adient PLC                                                 | CUSIP: G0084W101<br>LEI: 5493002QLDY8O75RTR78 | Long             | EC               | CORP              | IE        |    174845 | NS      | $3748676.80   | 1.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Air Lease Corp.                              | Air Lease Corp., Class A                                   | CUSIP: 00912X302<br>LEI: 5493004NW4M4P8TMMK63 | Long             | EC               | CORP              | US        |     28105 | NS      | $1557017.00   | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| O-I Glass, Inc.                              | O-I Glass, Inc.                                            | CUSIP: 67098H104<br>LEI: 213800PXY6M8SANLLB49 | Long             | EC               | CORP              | US        |    164949 | NS      | $2145986.49   | 1.05%             |  |  |  | No            |                  1 | On Loan: —       |
| Sonic Automotive, Inc.                       | Sonic Automotive, Inc., Class A                            | CUSIP: 83545G102<br>LEI: 549300NTLRGJ2JCBZU03 | Long             | EC               | CORP              | US        |     28427 | NS      | $2056693.45   | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Bloomin' Brands, Inc.                        | Bloomin' Brands, Inc.                                      | CUSIP: 094235108<br>LEI: E1UJ2GO305B5FXGV7N04 | Long             | EC               | CORP              | US        |    105211 | NS      | $958472.21    | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Apollo Commercial Real Estate Finance, Inc.  | Apollo Commercial Real Estate Finance, Inc.                | CUSIP: 03762U105<br>LEI: 549300E0AN7M2AQHSY29 | Long             | EC               | CORP              | US        |     88001 | NS      | $846569.62    | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Dorian LPG Ltd.                              | Dorian LPG Ltd.                                            | CUSIP: Y2106R110<br>LEI: 549300WP1W2WGMC7F395 | Long             | EC               | CORP              | MH        |     34586 | NS      | $995730.94    | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Navient Corp.                                | Navient Corp.                                              | CUSIP: 63938C108<br>LEI: 54930067J0ZNOEBRW338 | Long             | EC               | CORP              | US        |     99994 | NS      | $1293922.36   | 0.63%             |  |  |  | No            |                  1 | On Loan: —       |
| Central Garden & Pet Co.                     | Central Garden & Pet Co.                                   | CUSIP: 153527106<br>LEI: 5493004DVZLD37DJ0H83 | Long             | EC               | CORP              | US        |      4135 | NS      | $161347.70    | 0.08%             |  |  |  | No            |                  1 | On Loan: —       |
| FMC Corp.                                    | FMC Corp.                                                  | CUSIP: 302491303<br>LEI: CKDHZ2X64EEBQCSP7013 | Long             | EC               | CORP              | US        |     17648 | NS      | $688977.92    | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| MasterBrand, Inc.                            | MasterBrand, Inc.                                          | CUSIP: 57638P104<br>LEI: 549300E0Y4BR5Z9RDZ64 | Long             | EC               | CORP              | US        |     37527 | NS      | $413922.81    | 0.20%             |  |  |  | No            |                  1 | On Loan: —       |
| Academy Sports and Outdoors, Inc.            | Academy Sports and Outdoors, Inc.                          | CUSIP: 00402L107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     18142 | NS      | $921432.18    | 0.45%             |  |  |  | No            |                  1 | On Loan: —       |
| Sally Beauty Holdings, Inc.                  | Sally Beauty Holdings, Inc.                                | CUSIP: 79546E104<br>LEI: 529900VXW6E8ONDIQ271 | Long             | EC               | CORP              | US        |    121162 | NS      | $1180117.88   | 0.58%             |  |  |  | No            |                  1 | On Loan: —       |
| Eagle Bancorp, Inc.                          | Eagle Bancorp, Inc.                                        | CUSIP: 268948106<br>LEI: 549300B47NZODRMG3D47 | Long             | EC               | CORP              | US        |     35011 | NS      | $563326.99    | 0.28%             |  |  |  | No            |                  1 | On Loan: —       |
| AMN Healthcare Services, Inc.                | AMN Healthcare Services, Inc.                              | CUSIP: 001744101<br>LEI: 529900W3ARRTCNFH2I39 | Long             | EC               | CORP              | US        |    101163 | NS      | $1855329.42   | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Guess?, Inc.                                 | Guess?, Inc.                                               | CUSIP: 401617105<br>LEI: 549300QVH3ZK2DW0KP86 | Long             | EC               | CORP              | US        |    134970 | NS      | $1754610.00   | 0.86%             |  |  |  | No            |                  1 | On Loan: —       |
| Hilltop Holdings Inc.                        | Hilltop Holdings Inc.                                      | CUSIP: 432748101<br>LEI: 54930010TA543US0PM65 | Long             | EC               | CORP              | US        |     27384 | NS      | $810566.40    | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Genworth Financial, Inc.                     | Genworth Financial, Inc., Class A                          | CUSIP: 37247D106<br>LEI: 549300EMCG286BDNKJ33 | Long             | EC               | CORP              | US        |    380533 | NS      | $2990989.38   | 1.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Invesco Private Prime Fund                   | Invesco Private Prime Fund                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             | PF                | US        |  47183145 | NS      | $47183144.74  | 23.09%            |  |  |  | No            |                  2 | On Loan: No      |
| Pacira Biosciences, Inc.                     | Pacira Biosciences, Inc.                                   | CUSIP: 695127100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     32130 | NS      | $677621.70    | 0.33%             |  |  |  | No            |                  1 | On Loan: —       |
| Heartland Express, Inc.                      | Heartland Express, Inc.                                    | CUSIP: 422347104<br>LEI: 5299005V45FZIQGLOG39 | Long             | EC               | CORP              | US        |     61818 | NS      | $483416.76    | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Celanese Corp.                               | Celanese Corp.                                             | CUSIP: 150870103<br>LEI: 549300FHJQTDPPN41627 | Long             | EC               | CORP              | US        |     31742 | NS      | $1657884.66   | 0.81%             |  |  |  | No            |                  1 | On Loan: —       |
| Advance Auto Parts, Inc.                     | Advance Auto Parts, Inc.                                   | CUSIP: 00751Y106<br>LEI: 529900UCNQ5H9FSL0Y70 | Long             | EC               | CORP              | US        |     64831 | NS      | $3440581.17   | 1.68%             |  |  |  | No            |                  1 | On Loan: —       |
| REX American Resources Corp.                 | REX American Resources Corp.                               | CUSIP: 761624105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     15007 | NS      | $784565.96    | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| ABM Industries Inc.                          | ABM Industries Inc.                                        | CUSIP: 000957100<br>LEI: QF02R89VEIOROM77J447 | Long             | EC               | CORP              | US        |     23597 | NS      | $1088529.61   | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Stewart Information Services Corp.           | Stewart Information Services Corp.                         | CUSIP: 860372101<br>LEI: 529900TV1XI0PLKENU10 | Long             | EC               | CORP              | US        |      8865 | NS      | $575604.45    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| AdaptHealth Corp.                            | AdaptHealth Corp.                                          | CUSIP: 00653Q102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    232152 | NS      | $2082403.44   | 1.02%             |  |  |  | No            |                  1 | On Loan: —       |
| ArcBest Corp.                                | ArcBest Corp.                                              | CUSIP: 03937C105<br>LEI: 5493006S3KBNE8ZS3J23 | Long             | EC               | CORP              | US        |      6525 | NS      | $477173.25    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Global Net Lease, Inc.                       | Global Net Lease, Inc.                                     | CUSIP: 379378201<br>LEI: 549300NUYANCT5SU8Z65 | Long             | EC               | CORP              | US        |    134607 | NS      | $940902.93    | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| ScanSource, Inc.                             | ScanSource, Inc.                                           | CUSIP: 806037107<br>LEI: 7FHBAN017QDY4K2KP156 | Long             | EC               | CORP              | US        |     38912 | NS      | $1511342.08   | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Monro, Inc.                                  | Monro, Inc.                                                | CUSIP: 610236101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     39004 | NS      | $549761.38    | 0.27%             |  |  |  | No            |                  1 | On Loan: —       |
| Telephone and Data Systems, Inc.             | Telephone and Data Systems, Inc.                           | CUSIP: 879433829<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     31364 | NS      | $1224450.56   | 0.60%             |  |  |  | No            |                  1 | On Loan: —       |
| SunCoke Energy, Inc.                         | SunCoke Energy, Inc.                                       | CUSIP: 86722A103<br>LEI: 1KF1J2NXQE2PI0QOB943 | Long             | EC               | CORP              | US        |    103578 | NS      | $765441.42    | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Deluxe Corp.                                 | Deluxe Corp.                                               | CUSIP: 248019101<br>LEI: KWGNKB8TX9LE5TV29231 | Long             | EC               | CORP              | US        |     57361 | NS      | $923512.10    | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Cracker Barrel Old Country Store, Inc.       | Cracker Barrel Old Country Store, Inc.                     | CUSIP: 22410J106<br>LEI: 8P4PHQIUWPIECBFBW745 | Long             | EC               | CORP              | US        |     28865 | NS      | $1789630.00   | 0.88%             |  |  |  | No            |                  1 | On Loan: —       |
| Helen of Troy Ltd.                           | Helen of Troy Ltd.                                         | CUSIP: G4388N106<br>LEI: N/A                  | Long             | EC               | CORP              | BM        |     16929 | NS      | $372099.42    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Capitol Federal Financial, Inc.              | Capitol Federal Financial, Inc.                            | CUSIP: 14057J101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    118490 | NS      | $713309.80    | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Central Garden & Pet Co.                     | Central Garden & Pet Co., Class A                          | CUSIP: 153527205<br>LEI: 5493004DVZLD37DJ0H83 | Long             | EC               | CORP              | US        |     22567 | NS      | $801579.84    | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Topgolf Callaway Brands Corp.                | Topgolf Callaway Brands Corp.                              | CUSIP: 131193104<br>LEI: 5493005UB0KFRKBPCU72 | Long             | EC               | CORP              | US        |    393194 | NS      | $3637044.50   | 1.78%             |  |  |  | No            |                  1 | On Loan: —       |
| ProAssurance Corp.                           | ProAssurance Corp.                                         | CUSIP: 74267C106<br>LEI: 54930015E5J57R675E89 | Long             | EC               | CORP              | US        |    130049 | NS      | $3089964.24   | 1.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Resideo Technologies, Inc.                   | Resideo Technologies, Inc.                                 | CUSIP: 76118Y104<br>LEI: 5493006TKFPYISY2DS54 | Long             | EC               | CORP              | US        |     43206 | NS      | $1179523.80   | 0.58%             |  |  |  | No            |                  1 | On Loan: —       |
| Invesco Government & Agency Portfolio        | Invesco Government & Agency Portfolio, Institutional Class | CUSIP: 825252885<br>LEI: 5493007T1J7WZ5QI1A47 | Long             | STIV             | RF                | US        |     20358 | NS      | $20358.39     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| PENN Entertainment, Inc.                     | PENN Entertainment, Inc.                                   | CUSIP: 707569109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     74055 | NS      | $1337433.30   | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Bristow Group Inc.                           | Bristow Group Inc.                                         | CUSIP: 11040G103<br>LEI: 5493005Q24EN3UC1PV68 | Long             | EC               | CORP              | US        |     28662 | NS      | $990845.34    | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Andersons, Inc. (The)                        | Andersons, Inc. (The)                                      | CUSIP: 034164103<br>LEI: L38MWB8MVRFV7HVJPU11 | Long             | EC               | CORP              | US        |     56532 | NS      | $2030629.44   | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Patterson-UTI Energy, Inc.                   | Patterson-UTI Energy, Inc.                                 | CUSIP: 703481101<br>LEI: 254900XGFBKIXD6G0697 | Long             | EC               | CORP              | US        |    171468 | NS      | $1013375.88   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Fresh Del Monte Produce Inc.                 | Fresh Del Monte Produce Inc.                               | CUSIP: G36738105<br>LEI: 529900I72V9F0FEZR228 | Long             | EC               | CORP              | KY        |     85981 | NS      | $3232025.79   | 1.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Signet Jewelers Ltd.                         | Signet Jewelers Ltd.                                       | CUSIP: G81276100<br>LEI: 549300N3XPGE91WV7M22 | Long             | EC               | CORP              | BM        |      7446 | NS      | $588978.60    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Crescent Energy Co.                          | Crescent Energy Co., Class A                               | CUSIP: 44952J104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    136666 | NS      | $1262793.84   | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Hope Bancorp, Inc.                           | Hope Bancorp, Inc.                                         | CUSIP: 43940T109<br>LEI: 549300UTF4QGMBHIZ219 | Long             | EC               | CORP              | US        |     84724 | NS      | $846392.76    | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Talos Energy Inc.                            | Talos Energy Inc.                                          | CUSIP: 87484T108<br>LEI: 549300OKFHZ84SFJFT95 | Long             | EC               | CORP              | US        |    182898 | NS      | $1563777.90   | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Redwood Trust, Inc.                          | Redwood Trust, Inc.                                        | CUSIP: 758075402<br>LEI: DRBV4N1ERQLEMIF11G78 | Long             | EC               | CORP              | US        |    141489 | NS      | $772529.94    | 0.38%             |  |  |  | No            |                  1 | On Loan: —       |
| Invesco Private Government Fund              | Invesco Private Government Fund                            | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             | PF                | US        |  17966690 | NS      | $17966689.84  | 8.79%             |  |  |  | No            |                  2 | On Loan: No      |
| Meritage Homes Corp.                         | Meritage Homes Corp.                                       | CUSIP: 59001A102<br>LEI: 52990044W9UMFJO2FB97 | Long             | EC               | CORP              | US        |      7091 | NS      | $477507.94    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Millrose Properties, Inc.                    | Millrose Properties, Inc.                                  | CUSIP: 601137102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     92257 | NS      | $2766787.43   | 1.35%             |  |  |  | No            |                  1 | On Loan: No      |
| New York Mortgage Trust, Inc.                | New York Mortgage Trust, Inc.                              | CUSIP: 649604840<br>LEI: 549300JFGR0M7ULHWG48 | Long             | EC               | CORP              | US        |    183693 | NS      | $1162776.69   | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Fox Factory Holding Corp.                    | Fox Factory Holding Corp.                                  | CUSIP: 35138V102<br>LEI: 529900GE1HSV0617R721 | Long             | EC               | CORP              | US        |     26228 | NS      | $796544.36    | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Sun Country Airlines Holdings, Inc.          | Sun Country Airlines Holdings, Inc.                        | CUSIP: 866683105<br>LEI: 549300MOHOJN9GH0NJ48 | Long             | EC               | CORP              | US        |     63018 | NS      | $730378.62    | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Viasat, Inc.                                 | Viasat, Inc.                                               | CUSIP: 92552V100<br>LEI: UFC8NYMNFSYIHNSM2I38 | Long             | EC               | CORP              | US        |    303077 | NS      | $4979555.11   | 2.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Insight Enterprises, Inc.                    | Insight Enterprises, Inc.                                  | CUSIP: 45765U103<br>LEI: 529900S8991TYW6YP792 | Long             | EC               | CORP              | US        |      3833 | NS      | $454517.14    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| PriceSmart, Inc.                             | PriceSmart, Inc.                                           | CUSIP: 741511109<br>LEI: 549300JVYOSTGVSDZS46 | Long             | EC               | CORP              | US        |      8220 | NS      | $883650.00    | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| ProPetro Holding Corp.                       | ProPetro Holding Corp.                                     | CUSIP: 74347M108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    126683 | NS      | $679020.88    | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| CVR Energy, Inc.                             | CVR Energy, Inc.                                           | CUSIP: 12662P108<br>LEI: 529900SOYZIXZBTXB558 | Long             | EC               | CORP              | US        |     84196 | NS      | $2254768.88   | 1.10%             |  |  |  | No            |                  1 | On Loan: —       |
| Shoe Carnival, Inc.                          | Shoe Carnival, Inc.                                        | CUSIP: 824889109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     25959 | NS      | $531121.14    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Kaiser Aluminum Corp.                        | Kaiser Aluminum Corp.                                      | CUSIP: 483007704<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     16945 | NS      | $1310017.95   | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Xerox Holdings Corp.                         | Xerox Holdings Corp.                                       | CUSIP: 98421M106<br>LEI: 5493000Y33XDVO2CXC18 | Long             | EC               | CORP              | US        |     82874 | NS      | $335639.70    | 0.16%             |  |  |  | No            |                  1 | On Loan: —       |
| TEGNA Inc.                                   | TEGNA Inc.                                                 | CUSIP: 87901J105<br>LEI: 549300YC5EDBGX85AO10 | Long             | EC               | CORP              | US        |     54211 | NS      | $905323.70    | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Scholastic Corp.                             | Scholastic Corp.                                           | CUSIP: 807066105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     99460 | NS      | $2453678.20   | 1.20%             |  |  |  | No            |                  1 | On Loan: —       |
| B&G Foods, Inc.                              | B&G Foods, Inc.                                            | CUSIP: 05508R106<br>LEI: 549300TRW1LZMDJZAQ78 | Long             | EC               | CORP              | US        |    447551 | NS      | $1834959.10   | 0.90%             |  |  |  | No            |                  1 | On Loan: —       |
| Universal Corp.                              | Universal Corp.                                            | CUSIP: 913456109<br>LEI: 549300BZXZ66F6DTIF20 | Long             | EC               | CORP              | US        |     36749 | NS      | $2001718.03   | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Winnebago Industries, Inc.                   | Winnebago Industries, Inc.                                 | CUSIP: 974637100<br>LEI: 549300B7OYKYJLTE3G11 | Long             | EC               | CORP              | US        |     21959 | NS      | $652621.48    | 0.32%             |  |  |  | No            |                  1 | On Loan: —       |
| Chemours Co. (The)                           | Chemours Co. (The)                                         | CUSIP: 163851108<br>LEI: 549300M1BOLNXL8DOV14 | Long             | EC               | CORP              | US        |     42359 | NS      | $507460.82    | 0.25%             |  |  |  | No            |                  1 | On Loan: —       |
| Renasant Corp.                               | Renasant Corp.                                             | CUSIP: 75970E107<br>LEI: 549300OVE6OZHW2UUH81 | Long             | EC               | CORP              | US        |     21978 | NS      | $805273.92    | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| SITE Centers Corp.                           | SITE Centers Corp.                                         | CUSIP: 82981J851<br>LEI: W2AVA6SODOQ1LCYJQR54 | Long             | EC               | CORP              | US        |    100091 | NS      | $1077980.07   | 0.53%             |  |  |  | Yes           |                  1 | On Loan: No      |

### Signature

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

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

**Signature:** Adrien Deberghes

**Name of Signer:** Adrien Deberghes

**Title:** Vice President