# EDGAR Filing Document

**Accession Number:** 0001378872
**File Stem:** 0001378872-26-000603
**Filing Date:** 2026-4
**Character Count:** 427521
**Document Hash:** b20f85a8295f78580e040c179347d92f
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001378872-26-000603.hdr.sgml**: 20260401

**ACCESSION NUMBER**: 0001378872-26-000603

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260131

**FILED AS OF DATE**: 20260401

**DATE AS OF CHANGE**: 20260401

**PERIOD START**: 20261031

**FILER**: 

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

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

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-21977
- **FILM NUMBER:** 26825653

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

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

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** PowerShares Exchange-Traded Fund Trust II
- **DATE OF NAME CHANGE:** 20070919

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

## Series and Classes Contracts Data

### Invesco International Corporate Bond ETF (Series ID: S000019231)

| Class ID   | Class Name                               | Ticker Symbol   |
|:---|:---|:---|
| C000053052 | Invesco International Corporate Bond ETF | PICB            |

## Nport-Ex

Schedule of Investments

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

January 31, 2026

*(Unaudited)*

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

---

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

---

---

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

---

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

---

| | |
|:---|:---|
| Notes to Schedule of Investments: | Notes to Schedule of Investments: |
| <sup>(a)</sup> | Principal amount of security and interest payments are adjusted for inflation.  |
| <sup>(b)</sup> | Affiliated holding. Affiliated holdings are investments in entities which are under common ownership or control of Invesco Ltd. or are investments in entities in <br> which the Fund owns 5% or more of the outstanding voting securities. The table below shows the Fund's transactions in, and earnings from, its investments in <br> affiliates for the three months ended January 31, 2026.<br>|

---

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

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Value** <br>**October 31, 2025**<br>| **Purchases** <br>**at Cost**<br>| **Proceeds** <br>**from Sales**<br>| **Change in** <br>**Unrealized** <br>**Appreciation**<br>| **Realized** <br>**Gain**<br>| **Value** <br>**January 31, 2026**<br>| **Dividend Income** |
| **Investments in Affiliated** <br> **Money Market Funds:**<br>|  |  |  |  |  |  |  |
| &nbsp;&nbsp; Invesco Government & Agency <br> Portfolio, Institutional Class<br>| &nbsp;&nbsp;&nbsp; $274943 | &nbsp;&nbsp;&nbsp; $869214 | &nbsp;&nbsp;&nbsp; $(1035334)<br>| &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $108823 | &nbsp;&nbsp;&nbsp; $582 |

---

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

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

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

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

------

Schedule of Investments

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

January 31, 2026

*(Unaudited)*

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

---

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

---

---

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

---

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

------

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

January 31, 2026

*(Unaudited)*

---

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

---

---

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

---

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

------

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

January 31, 2026

*(Unaudited)*

---

| | |
|:---|:---|
| Notes to Schedule of Investments: | Notes to Schedule of Investments: |
| <sup>(a)</sup> | Security purchased or received in a transaction exempt from registration under the Securities Act of 1933, as amended (the "1933 Act"). The security may be <br> resold pursuant to an exemption from registration under the 1933 Act, typically to qualified institutional buyers. The aggregate value of these securities at <br> January 31, 2026 was $878,502,131, which represented 68.08% of the Fund's Net Assets.<br>|
| <sup>(b)</sup> | All or a portion of this security was out on loan at January 31, 2026. |
| <sup>(c)</sup> | Affiliated holding. Affiliated holdings are investments in entities which are under common ownership or control of Invesco Ltd. or are investments in entities in <br> which the Fund owns 5% or more of the outstanding voting securities. The table below shows the Fund's transactions in, and earnings from, its investments in <br> affiliates for the three months ended January 31, 2026.<br>|

---

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

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Value** <br>**October 31, 2025**<br>| **Purchases** <br>**at Cost**<br>| **Proceeds** <br>**from Sales**<br>| **Change in** <br>**Unrealized** <br>**Appreciation**<br>| **Realized** <br>**Gain** <br>**(Loss)**<br>| **Value** <br>**January 31, 2026**<br>| **Dividend Income** |
| **Investments in** <br> **Affiliated Money** <br> **Market Funds:**<br>|  |  |  |  |  |  |  |
| &nbsp;&nbsp; Invesco Government & <br> Agency Portfolio, <br> Institutional Class<br>| &nbsp;&nbsp;&nbsp; $3047458 | &nbsp;&nbsp;&nbsp; $23917739 | &nbsp;&nbsp;&nbsp; $(22419403)<br>| &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $4545794 | &nbsp;&nbsp;&nbsp; $37539 |
| **Investments** <br> **Purchased with Cash** <br> **Collateral from** <br> **Securities on Loan:**<br>|  |  |  |  |  |  |  |
| &nbsp;&nbsp; Invesco Private <br> Government Fund<br>| &nbsp;&nbsp;&nbsp; 22344225 | &nbsp;&nbsp;&nbsp; 97948564 | &nbsp;&nbsp;&nbsp; (92009335)<br>| &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; 28283454 | &nbsp;&nbsp;&nbsp; 245,661<br> \*<br>|
| &nbsp;&nbsp; Invesco Private Prime <br> Fund<br>| &nbsp;&nbsp;&nbsp; 58029735 | &nbsp;&nbsp;&nbsp; 107636725 | &nbsp;&nbsp;&nbsp; (92369771)<br>| &nbsp;&nbsp;&nbsp; 805 | &nbsp;&nbsp;&nbsp; (805)<br>| &nbsp;&nbsp;&nbsp; 73296689 | &nbsp;&nbsp;&nbsp; 640,487<br> \*<br>|
| &nbsp;&nbsp; Total | &nbsp;&nbsp;&nbsp; $83421418 | &nbsp;&nbsp;&nbsp; $229503028 | &nbsp;&nbsp;&nbsp; $(206798509)<br>| &nbsp;&nbsp;&nbsp; $805 | &nbsp;&nbsp;&nbsp; $(805)<br>| &nbsp;&nbsp;&nbsp; $106125937 | &nbsp;&nbsp;&nbsp; $923687 |

---

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

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

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

<sup>(d)</sup> The rate shown is the 7-day SEC standardized yield as of January 31, 2026. <br> <sup>(e)</sup> The security has been segregated to satisfy the commitment to return the cash collateral received in securities lending transactions upon the borrower's return of the securities loaned.

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

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

------

Schedule of Investments

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

January 31, 2026

*(Unaudited)*

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

---

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

---

---

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

---

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

------

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

January 31, 2026

*(Unaudited)*

---

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

---

---

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

---

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

------

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

January 31, 2026

*(Unaudited)*

---

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

---

---

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

---

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

------

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

January 31, 2026

*(Unaudited)*

---

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

---

---

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

---

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

------

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

January 31, 2026

*(Unaudited)*

---

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

---

---

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

---

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

------

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

January 31, 2026

*(Unaudited)*

---

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

---

---

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

---

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

------

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

January 31, 2026

*(Unaudited)*

---

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

---

---

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

---

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

------

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

January 31, 2026

*(Unaudited)*

---

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

---

---

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

---

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

------

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

January 31, 2026

*(Unaudited)*

---

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

---

---

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

---

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

---

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

---

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

---

| | |
|:---|:---|
| Notes to Schedule of Investments: | Notes to Schedule of Investments: |
| <sup>(a)</sup> | Security purchased or received in a transaction exempt from registration under the Securities Act of 1933, as amended (the "1933 Act"). The security may be <br> resold pursuant to an exemption from registration under the 1933 Act, typically to qualified institutional buyers. The aggregate value of these securities at <br> January 31, 2026 was $170,189,725, which represented 84.98% of the Fund's Net Assets.<br>|
| <sup>(b)</sup> | All or a portion of this security was out on loan at January 31, 2026. |
| <sup>(c)</sup> | All or a portion of this security is Pay-in-Kind. Pay-in-Kind securities pay interest income in the form of securities. |
| <sup>(d)</sup> | Security issued at a fixed rate for a specific period of time, after which it will convert to a variable rate. |
| <sup>(e)</sup> | Perpetual bond with no specified maturity date. |
| <sup>(f)</sup> | Restricted security. The value of this security at January 31, 2026 represented less than 1% of the Fund's Net Assets. |
| <sup>(g)</sup> | Defaulted security. Currently, the issuer is in default with respect to principal and/or interest payments. The aggregate value of these securities at January 31, <br> 2026 was $194,605, which represented less than 1% of the Fund's Net Assets.<br>|
| <sup>(h)</sup> | Denotes a zero coupon security issued at a substantial discount from its value at maturity. |
| <sup>(i)</sup> | Non-income producing security. |
| <sup>(j)</sup> | Security valued using significant unobservable inputs (Level 3). See Note 1. |
| <sup>(k)</sup> | Acquired as part of the Hornbeck Offshore Services, Inc. reorganization. |
| <sup>(l)</sup> | Acquired as part of the Nine West Holding, Inc. reorganization. |
| <sup>(m)</sup> | Affiliated holding. Affiliated holdings are investments in entities which are under common ownership or control of Invesco Ltd. or are investments in entities in <br> which the Fund owns 5% or more of the outstanding voting securities. The table below shows the Fund's transactions in, and earnings from, its investments in <br> affiliates for the three months ended January 31, 2026.<br>|

---

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

------

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

January 31, 2026

*(Unaudited)*

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

---

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

---

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

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

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

<sup>(n)</sup> The rate shown is the 7-day SEC standardized yield as of January 31, 2026. <br> <sup>(o)</sup> The security has been segregated to satisfy the commitment to return the cash collateral received in securities lending transactions upon the borrower's return of the securities loaned.

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

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

------

Schedule of Investments

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

January 31, 2026

*(Unaudited)*

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

---

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

---

---

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

---

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

------

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

January 31, 2026

*(Unaudited)*

---

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

---

---

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

---

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

------

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

January 31, 2026

*(Unaudited)*

---

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

---

---

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

---

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

------

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

January 31, 2026

*(Unaudited)*

---

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

---

---

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

---

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

------

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

January 31, 2026

*(Unaudited)*

---

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

---

---

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

---

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

------

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

January 31, 2026

*(Unaudited)*

---

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

---

---

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

---

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

------

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

January 31, 2026

*(Unaudited)*

---

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

---

---

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

---

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

------

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

January 31, 2026

*(Unaudited)*

---

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

---

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

---

| | |
|:---|:---|
| Notes to Schedule of Investments: | Notes to Schedule of Investments: |
| <sup>(a)</sup> | Foreign denominated security. Principal amount is denominated in the currency indicated. |
| <sup>(b)</sup> | Security purchased or received in a transaction exempt from registration under the Securities Act of 1933, as amended (the "1933 Act"). The security may be <br> resold pursuant to an exemption from registration under the 1933 Act, typically to qualified institutional buyers. The aggregate value of these securities at <br> January 31, 2026 was $220,507,872, which represented 76.48% of the Fund's Net Assets.<br>|
| <sup>(c)</sup> | All or a portion of this security was out on loan at January 31, 2026. |
| <sup>(d)</sup> | Affiliated holding. Affiliated holdings are investments in entities which are under common ownership or control of Invesco Ltd. or are investments in entities in <br> which the Fund owns 5% or more of the outstanding voting securities. The table below shows the Fund's transactions in, and earnings from, its investments in <br> affiliates for the three months ended January 31, 2026.<br>|

---

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

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Value** <br>**October 31, 2025**<br>| **Purchases** <br>**at Cost**<br>| **Proceeds** <br>**from Sales**<br>| **Change in** <br>**Unrealized** <br>**Appreciation**<br>| **Realized** <br>**Gain** <br>**(Loss)**<br>| **Value** <br>**January 31, 2026**<br>| **Dividend Income** |
| **Investments in Affiliated** <br> **Money Market Funds:**<br>|  |  |  |  |  |  |  |
| &nbsp;&nbsp; Invesco Government & <br> Agency Portfolio, <br> Institutional Class<br>| &nbsp;&nbsp;&nbsp; $717695 | &nbsp;&nbsp;&nbsp; $5218833 | &nbsp;&nbsp;&nbsp; $(4990284)<br>| &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $946244 | &nbsp;&nbsp;&nbsp; $6670 |
| **Investments Purchased** <br> **with Cash Collateral from** <br> **Securities on Loan:**<br>|  |  |  |  |  |  |  |
| &nbsp;&nbsp; Invesco Private Government <br> Fund<br>| &nbsp;&nbsp;&nbsp; 524385 | &nbsp;&nbsp;&nbsp; 807266 | &nbsp;&nbsp;&nbsp; (1169748)<br>| &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; 161903 | &nbsp;&nbsp;&nbsp; 3,614<br> \*<br>|
| &nbsp;&nbsp; Invesco Private Prime Fund | &nbsp;&nbsp;&nbsp; 1359240 | &nbsp;&nbsp;&nbsp; 2043496 | &nbsp;&nbsp;&nbsp; (2982048)<br>| &nbsp;&nbsp;&nbsp; 2 | &nbsp;&nbsp;&nbsp; (3)<br>| &nbsp;&nbsp;&nbsp; 420687 | &nbsp;&nbsp;&nbsp; 9,690<br> \*<br>|
| &nbsp;&nbsp; Total | &nbsp;&nbsp;&nbsp; $2601320 | &nbsp;&nbsp;&nbsp; $8069595 | &nbsp;&nbsp;&nbsp; $(9142080)<br>| &nbsp;&nbsp;&nbsp; $2 | &nbsp;&nbsp;&nbsp; $(3)<br>| &nbsp;&nbsp;&nbsp; $1528834 | &nbsp;&nbsp;&nbsp; $19974 |

---

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

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

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

<sup>(e)</sup> The rate shown is the 7-day SEC standardized yield as of January 31, 2026. <br> <sup>(f)</sup> The security has been segregated to satisfy the commitment to return the cash collateral received in securities lending transactions upon the borrower's return of the securities loaned.

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

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

------

**Notes to Quarterly Schedules of Portfolio Holdings**

January 31, 2026

*(Unaudited)*

**NOTE 1—Additional Valuation Information**

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

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

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

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

The following is a summary of the tiered valuation input levels, as of January 31, 2026. The level assigned to the securities valuations may not be an indication of the risk or liquidity associated with investing in those securities. Because of the inherent uncertainties of valuation, the values reflected in the financial statements may materially differ from the value received upon actual sale of those investments.

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Level 1** | **Level 2** | **Level 3** | **Total** |
| &nbsp;&nbsp; Invesco 0-5 Yr US TIPS ETF |  |  |  |  |
| **Investments in Securities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; U.S. Treasury Securities | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $67322330 | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $67322330 |
| &nbsp;&nbsp;&nbsp; Money Market Funds | &nbsp;&nbsp;&nbsp; 108823 | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; 108823 |
| **Total Investments** | &nbsp;&nbsp;&nbsp; $108823 | &nbsp;&nbsp;&nbsp; $67322330 | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $67431153 |
| &nbsp;&nbsp; Invesco Emerging Markets Sovereign Debt ETF |  |  |  |  |
| **Investments in Securities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; U.S. Dollar Denominated Bonds & Notes | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $1268883776 | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $1268883776 |
| &nbsp;&nbsp;&nbsp; Money Market Funds | &nbsp;&nbsp;&nbsp; 4545794 | &nbsp;&nbsp;&nbsp; 101580143 | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; 106125937 |
| **Total Investments** | &nbsp;&nbsp;&nbsp; $4545794 | &nbsp;&nbsp;&nbsp; $1370463919 | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $1375009713 |
| &nbsp;&nbsp; Invesco Global ex-US High Yield Corporate Bond ETF |  |  |  |  |
| **Investments in Securities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; U.S. Dollar Denominated Bonds & Notes | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $193952165 | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $193952165 |
| &nbsp;&nbsp;&nbsp; Common Stocks & Other Equity Interests | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; 238774 | &nbsp;&nbsp;&nbsp; 47 | &nbsp;&nbsp;&nbsp; 238821 |
| &nbsp;&nbsp;&nbsp; Money Market Funds | &nbsp;&nbsp;&nbsp; 4865550 | &nbsp;&nbsp;&nbsp; 13537600 | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; 18403150 |
| **Total Investments in Securities** | &nbsp;&nbsp;&nbsp; 4865550 | &nbsp;&nbsp;&nbsp; 207728539 | &nbsp;&nbsp;&nbsp; 47 | &nbsp;&nbsp;&nbsp; 212594136 |
| **Other Investments - Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Investments Matured | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; 97495 | &nbsp;&nbsp;&nbsp; 4875 | &nbsp;&nbsp;&nbsp; 102370 |
| **Total Investments** | &nbsp;&nbsp;&nbsp; $4865550 | &nbsp;&nbsp;&nbsp; $207826034 | &nbsp;&nbsp;&nbsp; $4922 | &nbsp;&nbsp;&nbsp; $212696506 |
| &nbsp;&nbsp; Invesco International Corporate Bond ETF |  |  |  |  |
| **Investments in Securities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Non-U.S. Dollar Denominated Bonds & Notes | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $283931170 | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $283931170 |
| &nbsp;&nbsp;&nbsp; Money Market Funds | &nbsp;&nbsp;&nbsp; 946244 | &nbsp;&nbsp;&nbsp; 582590 | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; 1528834 |
| **Total Investments** | &nbsp;&nbsp;&nbsp; $946244 | &nbsp;&nbsp;&nbsp; $284513760 | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $285460004 |

---

------

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

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

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

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

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

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

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

  - **City:** Downers Grove

  - **State:** IL

  - **Foreign country:** US

  - **Zip / Postal Code:** 60515

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

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

- **a. Name of Series:** Invesco International Corporate Bond ETF

- **b. EDGAR series identifier (if any):** S000019231

- **c. LEI of Series:** 549300B6YR3M4L4DVB92

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

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

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

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $299760115.40

**Total Liabilities:** $11425758.72

**Net Assets:** $288334356.68

**Cash Not Reported:** $88216.36

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** -182.70870769 | **1-Year:** -17219.11844275 | **5-Year:** -59682.93661104 | **10-Year:** -57329.39081683 | **30-Year:** -14927.71516068

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

- **3-Month:** 0.00000000 | **1-Year:** 0.00000000 | **5-Year:** 0.00000000 | **10-Year:** 0.00000000 | **30-Year:** 0.00000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000053052 | 0.39%                | 1.18%                | 2.24%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-42712.91               | $665660.08                                 |
| Month 2  | $-20429.51               | $2411508.72                                |
| Month 3  | $51908.07                | $5428396.34                                |

### Schedule of Portfolio Investments

| Name                                                       | Title                                                      | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Motability Operations Group PLC                            | Motability Operations Group PLC                            | CUSIP: JK2375331<br>LEI: AZ3NL8JCZDCNUXFWI720 | Long             | DBT              | CORP              | GB        |    500000 | PA      | $590824.03    | 0.20%             | 2036-03-10      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| E.ON International Finance B.V.                            | E.ON International Finance B.V.                            | CUSIP: EC5568042<br>LEI: 549300TG53AWJ719M814 | Long             | DBT              | CORP              | NL        |    700000 | PA      | $1026299.46   | 0.36%             | 2030-06-03      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| E.ON International Finance B.V.                            | E.ON International Finance B.V.                            | CUSIP: EC5705628<br>LEI: 549300TG53AWJ719M814 | Long             | DBT              | CORP              | NL        |    782000 | PA      | $1159936.08   | 0.40%             | 2032-06-07      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Enel S.p.A.                                                | Enel S.p.A.                                                | CUSIP: EG5612957<br>LEI: WOCMU6HCI0OJWNPRZS33 | Long             | DBT              | CORP              | IT        |    439000 | PA      | $606332.12    | 0.21%             | 2037-06-22      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| E.ON International Finance B.V.                            | E.ON International Finance B.V.                            | CUSIP: EG9493362<br>LEI: 549300TG53AWJ719M814 | Long             | DBT              | CORP              | NL        |    750000 | PA      | $1041751.43   | 0.36%             | 2037-10-30      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| HSBC Holdings PLC                                          | HSBC Holdings PLC                                          | CUSIP: EH2905378<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |    600000 | PA      | $897511.24    | 0.31%             | 2038-04-07      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Orange                                                     | Orange                                                     | CUSIP: EC8227430<br>LEI: 969500MCOONR8990S771 | Long             | DBT              | CORP              | FR        |    350000 | PA      | $540580.92    | 0.19%             | 2033-01-28      | Fixed         | 8.12%                 | No            |                  2 | On Loan: No      |
| Orange                                                     | Orange                                                     | CUSIP: ED2837968<br>LEI: 969500MCOONR8990S771 | Long             | DBT              | CORP              | FR        |    378000 | PA      | $542457.13    | 0.19%             | 2034-01-23      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| GlaxoSmithKline Capital PLC                                | GlaxoSmithKline Capital PLC                                | CUSIP: EC4936216<br>LEI: 549300U0LV41VX7LEP38 | Long             | DBT              | CORP              | GB        |    500000 | PA      | $716054.34    | 0.25%             | 2033-12-19      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Cadent Finance PLC                                         | Cadent Finance PLC                                         | CUSIP: QZ5429688<br>LEI: 5493005M8TJ0J6IMUF67 | Long             | DBT              | CORP              | GB        |    600000 | PA      | $497391.58    | 0.17%             | 2046-09-22      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| Cadent Finance PLC                                         | Cadent Finance PLC                                         | CUSIP: QZ5429639<br>LEI: 5493005M8TJ0J6IMUF67 | Long             | DBT              | CORP              | GB        |    600000 | PA      | $586057.76    | 0.20%             | 2038-09-22      | Fixed         | 2.62%                 | No            |                  2 | On Loan: No      |
| BPCE S.A.                                                  | BPCE S.A.                                                  | CUSIP: QZ6459619<br>LEI: 9695005MSX1OYEMGDF46 | Long             | DBT              | CORP              | FR        |    200000 | PA      | $229348.30    | 0.08%             | 2028-10-05      | Fixed         | 1.00%                 | No            |                  2 | On Loan: No      |
| Heathrow Funding Ltd.                                      | Heathrow Funding Ltd.                                      | CUSIP: EH5177629<br>LEI: 7TI96JO3DYEIQWZ7Z726 | Long             | DBT              | CORP              | JE        |    800000 | PA      | $1182518.67   | 0.41%             | 2031-12-10      | Fixed         | 6.45%                 | No            |                  2 | On Loan: No      |
| Danone                                                     | Danone                                                     | CUSIP: QZ9814067<br>LEI: 969500KMUQ2B6CBAF162 | Long             | DBT              | CORP              | FR        |    400000 | PA      | $459734.49    | 0.16%             | 2028-11-03      | Fixed         | 1.21%                 | No            |                  2 | On Loan: No      |
| Bouygues                                                   | Bouygues                                                   | CUSIP: AL4704295<br>LEI: 969500MOCLNQFNZN0D63 | Long             | DBT              | CORP              | FR        |    200000 | PA      | $235063.32    | 0.08%             | 2027-06-07      | Fixed         | 1.38%                 | No            |                  2 | On Loan: No      |
| Sweden Government Bond                                     | Sweden Government Bond, Series 1060                        | CUSIP: AM2163666<br>LEI: ERE94C0BSULG2RM19605 | Long             | DBT              | NUSS              | SE        |  10400000 | PA      | $1142822.64   | 0.40%             | 2028-05-12      | Fixed         | 0.75%                 | No            |                  2 | On Loan: No      |
| Banco Bilbao Vizcaya Argentaria S.A.                       | Banco Bilbao Vizcaya Argentaria S.A.                       | CUSIP: AM3778645<br>LEI: K8MS7FD7N5Z2WQ51AZ71 | Long             | DBT              | CORP              | ES        |    200000 | PA      | $240479.01    | 0.08%             | 2027-02-10      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Norway Government Bond                                     | Norway Government Bond, Series 479                         | CUSIP: AM5012761<br>LEI: 549300L0BT3FJTN9MX24 | Long             | DBT              | NUSS              | NO        |  10000000 | PA      | $1018901.87   | 0.35%             | 2027-02-17      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| British Telecommunications PLC                             | British Telecommunications PLC                             | CUSIP: EG5684642<br>LEI: 549300OWFMSO9NYV4H90 | Long             | DBT              | CORP              | GB        |    450000 | PA      | $654769.47    | 0.23%             | 2037-06-23      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Volkswagen International Finance N.V.                      | Volkswagen International Finance N.V.                      | CUSIP: AM9628026<br>LEI: 5299004PWNHKYTR23649 | Long             | DBT              | CORP              | NL        |    600000 | PA      | $709402.33    | 0.25%             | 2027-03-30      | Fixed         | 1.88%                 | No            |                  2 | On Loan: No      |
| Westfield America Management Ltd.                          | Westfield America Management Ltd.                          | CUSIP: AM9809428<br>LEI: 875500W7WGQNQWSP6E89 | Long             | DBT              | CORP              | AU        |    400000 | PA      | $518461.60    | 0.18%             | 2029-03-30      | Fixed         | 2.62%                 | No            |                  2 | On Loan: No      |
| Mercedes-Benz Group AG                                     | Mercedes-Benz Group AG                                     | CUSIP: N/A<br>LEI: 529900R27DL06UVNT076       | Long             | DBT              | CORP              | DE        |    350000 | PA      | $359395.91    | 0.12%             | 2037-07-03      | Fixed         | 2.12%                 | No            |                  2 | On Loan: —       |
| Mercedes-Benz Group AG                                     | Mercedes-Benz Group AG                                     | CUSIP: N/A<br>LEI: 529900R27DL06UVNT076       | Long             | DBT              | CORP              | DE        |    400000 | PA      | $459438.62    | 0.16%             | 2029-07-03      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| B.A.T. International Finance PLC                           | B.A.T. International Finance PLC                           | CUSIP: N/A<br>LEI: 21380041YBGOQDFAC823       | Long             | DBT              | CORP              | GB        |    400000 | PA      | $461634.98    | 0.16%             | 2030-01-16      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| E.ON International Finance B.V.                            | E.ON International Finance B.V.                            | CUSIP: EH6872624<br>LEI: 549300TG53AWJ719M814 | Long             | DBT              | CORP              | NL        |    600000 | PA      | $889720.40    | 0.31%             | 2039-01-27      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Telefonica Emisiones, S.A.                                 | Telefonica Emisiones, S.A.                                 | CUSIP: AP0294995<br>LEI: 549300Y5MFC4SW5Z3K71 | Long             | DBT              | CORP              | ES        |    300000 | PA      | $352535.38    | 0.12%             | 2028-01-12      | Fixed         | 1.72%                 | No            |                  2 | On Loan: No      |
| TotalEnergies Capital International                        | TotalEnergies Capital International                        | CUSIP: AP3240409<br>LEI: 549300U37G2I8G4RUG09 | Long             | DBT              | CORP              | FR        |    300000 | PA      | $341118.18    | 0.12%             | 2029-10-04      | Fixed         | 1.38%                 | No            |                  2 | On Loan: No      |
| Housing & Care 21                                          | Housing & Care 21                                          | CUSIP: AP7311065<br>LEI: 2138006KF8SVD28K9813 | Long             | DBT              | CORP              | GB        |    500000 | PA      | $454946.22    | 0.16%             | 2049-11-08      | Fixed         | 3.29%                 | No            |                  2 | On Loan: No      |
| British Telecommunications PLC                             | British Telecommunications PLC                             | CUSIP: AQ0264905<br>LEI: 549300OWFMSO9NYV4H90 | Long             | DBT              | CORP              | GB        |    450000 | PA      | $573270.67    | 0.20%             | 2031-11-21      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| ING Groep N.V.                                             | ING Groep N.V.                                             | CUSIP: AQ2190207<br>LEI: 549300NYKK9MWM7GGW15 | Long             | DBT              | CORP              | NL        |    300000 | PA      | $349927.22    | 0.12%             | 2028-01-11      | Fixed         | 1.38%                 | No            |                  2 | On Loan: No      |
| University of Oxford                                       | University of Oxford                                       | CUSIP: AQ2321828<br>LEI: 5493009OEHU6YS545T65 | Long             | DBT              | CORP              | GB        |    850000 | PA      | $541371.69    | 0.19%             | 2117-12-08      | Fixed         | 2.54%                 | No            |                  2 | On Loan: No      |
| Orange                                                     | Orange                                                     | CUSIP: AQ6886040<br>LEI: 969500MCOONR8990S771 | Long             | DBT              | CORP              | FR        |    300000 | PA      | $339015.11    | 0.12%             | 2030-01-16      | Fixed         | 1.38%                 | No            |                  2 | On Loan: No      |
| Autoroutes du Sud de la France                             | Autoroutes du Sud de la France                             | CUSIP: AQ7115290<br>LEI: 213800U12KWYZEECZ934 | Long             | DBT              | CORP              | FR        |    300000 | PA      | $339233.63    | 0.12%             | 2030-01-22      | Fixed         | 1.38%                 | No            |                  2 | On Loan: No      |
| E.ON International Finance B.V.                            | E.ON International Finance B.V.                            | CUSIP: AQ9163165<br>LEI: 549300TG53AWJ719M814 | Long             | DBT              | CORP              | NL        |    250000 | PA      | $285968.36    | 0.10%             | 2029-07-31      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| Wellcome Trust Ltd. (The)                                  | Wellcome Trust Ltd. (The)                                  | CUSIP: AR0212944<br>LEI: 549300YQJTZ9YPHW5V73 | Long             | DBT              | CORP              | GB        |    700000 | PA      | $440452.86    | 0.15%             | 2118-02-07      | Fixed         | 2.52%                 | No            |                  2 | On Loan: No      |
| Bank of Montreal                                           | Bank of Montreal                                           | CUSIP: 06368BTX6<br>LEI: NQQ6HPCNCCU6TUTQYE16 | Long             | DBT              | CORP              | CA        |   2050000 | PA      | $1521418.97   | 0.53%             | 2028-03-01      | Fixed         | 3.19%                 | No            |                  2 | On Loan: No      |
| Orange                                                     | Orange                                                     | CUSIP: AR7384274<br>LEI: 969500MCOONR8990S771 | Long             | DBT              | CORP              | FR        |    300000 | PA      | $349092.90    | 0.12%             | 2028-03-20      | Fixed         | 1.38%                 | No            |                  2 | On Loan: No      |
| Sanofi                                                     | Sanofi, Series 12FX                                        | CUSIP: AR7572159<br>LEI: 549300E9PC51EN656011 | Long             | DBT              | CORP              | FR        |    500000 | PA      | $567107.77    | 0.20%             | 2030-03-21      | Fixed         | 1.38%                 | No            |                  2 | On Loan: No      |
| Sanofi                                                     | Sanofi, Series 20FX                                        | CUSIP: AR7572142<br>LEI: 549300E9PC51EN656011 | Long             | DBT              | CORP              | FR        |    400000 | PA      | $399334.31    | 0.14%             | 2038-03-21      | Fixed         | 1.88%                 | No            |                  2 | On Loan: No      |
| Richemont International Holding S.A.                       | Richemont International Holding S.A.                       | CUSIP: AR7772213<br>LEI: 549300V9893NUQX6X069 | Long             | DBT              | CORP              | LU        |    400000 | PA      | $451968.12    | 0.16%             | 2030-03-26      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| Richemont International Holding S.A.                       | Richemont International Holding S.A.                       | CUSIP: AR7772221<br>LEI: 549300V9893NUQX6X069 | Long             | DBT              | CORP              | LU        |    300000 | PA      | $300761.21    | 0.10%             | 2038-03-26      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Clarion Funding PLC                                        | Clarion Funding PLC                                        | CUSIP: AS1223476<br>LEI: 213800BLOAKXC1BXLJ29 | Long             | DBT              | CORP              | GB        |    430000 | PA      | $380598.08    | 0.13%             | 2048-04-19      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| Norway Government Bond                                     | Norway Government Bond, Series 480                         | CUSIP: AS2564498<br>LEI: 549300L0BT3FJTN9MX24 | Long             | DBT              | NUSS              | NO        |   8770000 | PA      | $877498.97    | 0.30%             | 2028-04-26      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Deutsche Telekom International Finance B.V.                | Deutsche Telekom International Finance B.V.                | CUSIP: AS7502212<br>LEI: 529900ERDFHS6C1M4U58 | Long             | DBT              | CORP              | NL        |    200000 | PA      | $233152.80    | 0.08%             | 2029-12-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Sweden Government Bond                                     | Sweden Government Bond, Series 1061                        | CUSIP: AS7837154<br>LEI: ERE94C0BSULG2RM19605 | Long             | DBT              | NUSS              | SE        |  10100000 | PA      | $1082831.30   | 0.38%             | 2029-11-12      | Fixed         | 0.75%                 | No            |                  2 | On Loan: No      |
| Bayer Capital Corp. B.V.                                   | Bayer Capital Corp. B.V.                                   | CUSIP: AT1823240<br>LEI: 529900KEOKKPYZLTAU90 | Long             | DBT              | CORP              | NL        |    400000 | PA      | $463228.63    | 0.16%             | 2029-12-15      | Fixed         | 2.12%                 | No            |                  2 | On Loan: No      |
| Equinor ASA                                                | Equinor ASA                                                | CUSIP: EH7469180<br>LEI: OW6OFBNCKXC4US5C7523 | Long             | DBT              | CORP              | NO        |    700000 | PA      | $1062985.43   | 0.37%             | 2031-03-11      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Bell Canada                                                | Bell Canada                                                | CUSIP: 07813ZCA0<br>LEI: 5493000G3EFX9S7TDE29 | Long             | DBT              | CORP              | CA        |   1050000 | PA      | $786234.17    | 0.27%             | 2028-08-21      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| Cie Generale des Etablissements Michelin                   | Cie Generale des Etablissements Michelin                   | CUSIP: AU2721333<br>LEI: 549300SOSI58J6VIW052 | Long             | DBT              | CORP              | FR        |    300000 | PA      | $340411.17    | 0.12%             | 2030-09-03      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| Orange                                                     | Orange                                                     | CUSIP: AU3886903<br>LEI: 969500MCOONR8990S771 | Long             | DBT              | CORP              | FR        |    300000 | PA      | $340948.12    | 0.12%             | 2030-09-12      | Fixed         | 1.88%                 | No            |                  2 | On Loan: No      |
| ING Groep N.V.                                             | ING Groep N.V.                                             | CUSIP: AU5396935<br>LEI: 549300NYKK9MWM7GGW15 | Long             | DBT              | CORP              | NL        |    400000 | PA      | $469061.09    | 0.16%             | 2028-09-20      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Blend Funding PLC                                          | Blend Funding PLC                                          | CUSIP: AU4140540<br>LEI: 213800Y8TMLUT9SN1E94 | Long             | DBT              | CORP              | GB        |    500000 | PA      | $478121.53    | 0.17%             | 2047-09-21      | Fixed         | 3.46%                 | No            |                  2 | On Loan: No      |
| Vinci S.A.                                                 | Vinci S.A.                                                 | CUSIP: AU5732154<br>LEI: 213800WFQ334R8UXUG83 | Long             | DBT              | CORP              | FR        |    300000 | PA      | $341088.19    | 0.12%             | 2030-09-26      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| Societe Generale                                           | Societe Generale                                           | CUSIP: AU6541273<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | DBT              | CORP              | FR        |    400000 | PA      | $470178.72    | 0.16%             | 2028-09-27      | Fixed         | 2.12%                 | No            |                  2 | On Loan: No      |
| Vattenfall AB                                              | Vattenfall AB                                              | CUSIP: EH7785197<br>LEI: 549300T5RZ1HA5HZ3109 | Long             | DBT              | CORP              | SE        |    600000 | PA      | $914896.38    | 0.32%             | 2039-04-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| ING Groep N.V.                                             | ING Groep N.V.                                             | CUSIP: AV5772257<br>LEI: 549300NYKK9MWM7GGW15 | Long             | DBT              | CORP              | NL        |    400000 | PA      | $467481.33    | 0.16%             | 2030-11-15      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Volkswagen International Finance N.V.                      | Volkswagen International Finance N.V.                      | CUSIP: AV6225255<br>LEI: 5299004PWNHKYTR23649 | Long             | DBT              | CORP              | NL        |    300000 | PA      | $357154.56    | 0.12%             | 2038-11-16      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Volkswagen International Finance N.V.                      | Volkswagen International Finance N.V.                      | CUSIP: AV6225180<br>LEI: 5299004PWNHKYTR23649 | Long             | DBT              | CORP              | NL        |    200000 | PA      | $239532.13    | 0.08%             | 2030-11-18      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Takeda Pharmaceutical Co. Ltd.                             | Takeda Pharmaceutical Co. Ltd.                             | CUSIP: AV6471313<br>LEI: 549300ZLMVP4X0OGR454 | Long             | DBT              | CORP              | JP        |    400000 | PA      | $475153.85    | 0.16%             | 2030-11-21      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| SAP SE                                                     | SAP SE                                                     | CUSIP: AV9849291<br>LEI: 529900D6BF99LW9R2E68 | Long             | DBT              | CORP              | DE        |    300000 | PA      | $336526.15    | 0.12%             | 2031-03-10      | Fixed         | 1.62%                 | No            |                  2 | On Loan: No      |
| Orange                                                     | Orange                                                     | CUSIP: AW5684278<br>LEI: 969500MCOONR8990S771 | Long             | DBT              | CORP              | FR        |    600000 | PA      | $762474.42    | 0.26%             | 2032-01-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Orange                                                     | Orange                                                     | CUSIP: AW5684849<br>LEI: 969500MCOONR8990S771 | Long             | DBT              | CORP              | FR        |    300000 | PA      | $351798.45    | 0.12%             | 2029-01-15      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Deutsche Bahn AG                                           | Deutsche Bahn AG                                           | CUSIP: AW5996979<br>LEI: 52990063S23N13HU4E98 | Long             | DBT              | CORP              | DE        |    200000 | PA      | $229903.50    | 0.08%             | 2028-12-18      | Fixed         | 1.12%                 | No            |                  2 | On Loan: No      |
| Vinci S.A.                                                 | Vinci S.A.                                                 | CUSIP: AW6615644<br>LEI: 213800WFQ334R8UXUG83 | Long             | DBT              | CORP              | FR        |    400000 | PA      | $463642.03    | 0.16%             | 2029-01-18      | Fixed         | 1.62%                 | No            |                  2 | On Loan: No      |
| BMW Finance N.V.                                           | BMW Finance N.V.                                           | CUSIP: AX0035847<br>LEI: 5299006ZHG3IXU0PNJ56 | Long             | DBT              | CORP              | NL        |    300000 | PA      | $345943.28    | 0.12%             | 2029-02-06      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| Autoroutes du Sud de la France                             | Autoroutes du Sud de la France                             | CUSIP: AX2611249<br>LEI: 213800U12KWYZEECZ934 | Long             | DBT              | CORP              | FR        |    300000 | PA      | $330721.06    | 0.11%             | 2031-02-21      | Fixed         | 1.38%                 | No            |                  2 | On Loan: No      |
| Credit Agricole S.A.                                       | Credit Agricole S.A.                                       | CUSIP: AX3944086<br>LEI: 969500TJ5KRTCJQWXH05 | Long             | DBT              | CORP              | FR        |    800000 | PA      | $923394.14    | 0.32%             | 2029-03-05      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| Norway Government Bond                                     | Norway Government Bond, Series 481                         | CUSIP: AX3516264<br>LEI: 549300L0BT3FJTN9MX24 | Long             | DBT              | NUSS              | NO        |   5000000 | PA      | $483482.72    | 0.17%             | 2029-09-06      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| Medtronic Global Holdings S.C.A.                           | Medtronic Global Holdings S.C.A.                           | CUSIP: 58507LAJ8<br>LEI: 549300JXMTTP8GKYIX14 | Long             | DBT              | CORP              | LU        |    300000 | PA      | $334049.46    | 0.12%             | 2031-03-07      | Fixed         | 1.62%                 | No            |                  2 | On Loan: No      |
| Banque Federative du Credit Mutuel                         | Banque Federative du Credit Mutuel                         | CUSIP: AX5438913<br>LEI: VBHFXSYT7OG62HNT8T76 | Long             | DBT              | CORP              | FR        |    300000 | PA      | $345457.26    | 0.12%             | 2029-03-15      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| Telefonica Emisiones, S.A.                                 | Telefonica Emisiones, S.A.                                 | CUSIP: AX5204786<br>LEI: 549300Y5MFC4SW5Z3K71 | Long             | DBT              | CORP              | ES        |    300000 | PA      | $347989.15    | 0.12%             | 2029-03-12      | Fixed         | 1.79%                 | No            |                  2 | On Loan: No      |
| Cie de Saint-Gobain                                        | Cie de Saint-Gobain                                        | CUSIP: AX5434045<br>LEI: NFONVGN05Z0FMN5PEC35 | Long             | DBT              | CORP              | FR        |    100000 | PA      | $112835.15    | 0.04%             | 2031-03-15      | Fixed         | 1.88%                 | No            |                  2 | On Loan: No      |
| Deutsche Telekom AG                                        | Deutsche Telekom AG                                        | CUSIP: AX6445446<br>LEI: 549300V9QSIG4WX4GJ96 | Long             | DBT              | CORP              | DE        |    300000 | PA      | $338754.25    | 0.12%             | 2031-03-25      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| Credit Agricole S.A.                                       | Credit Agricole S.A.                                       | CUSIP: AX7514745<br>LEI: 969500TJ5KRTCJQWXH05 | Long             | DBT              | CORP              | FR        |    700000 | PA      | $811956.26    | 0.28%             | 2029-03-25      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Abertis Infraestructuras S.A.                              | Abertis Infraestructuras S.A.                              | CUSIP: AX7293548<br>LEI: 549300GKFVWI02JQ5332 | Long             | DBT              | CORP              | ES        |    300000 | PA      | $356984.44    | 0.12%             | 2027-09-27      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| Abertis Infraestructuras S.A.                              | Abertis Infraestructuras S.A.                              | CUSIP: AX7293555<br>LEI: 549300GKFVWI02JQ5332 | Long             | DBT              | CORP              | ES        |    200000 | PA      | $237056.07    | 0.08%             | 2031-03-27      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Societe Generale                                           | Societe Generale                                           | CUSIP: AX7282384<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | DBT              | CORP              | FR        |    200000 | PA      | $230023.28    | 0.08%             | 2029-03-22      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| TELUS Corp.                                                | TELUS Corp., Series CY                                     | CUSIP: 87971MBJ1<br>LEI: 894500WE70KKZRQMBU11 | Long             | DBT              | CORP              | CA        |    850000 | PA      | $628164.53    | 0.22%             | 2029-05-02      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| TransCanada Pipelines Ltd.                                 | TransCanada Pipelines Ltd.                                 | CUSIP: 89353ZCD8<br>LEI: 5BV01I6231JPDAPMGH09 | Long             | DBT              | CORP              | CA        |    800000 | PA      | $526204.63    | 0.18%             | 2049-10-15      | Fixed         | 4.34%                 | No            |                  2 | On Loan: No      |
| Yorkshire Water Finance PLC                                | Yorkshire Water Finance PLC                                | CUSIP: ZS1529099<br>LEI: 213800O8BDOGHJMTCP32 | Long             | DBT              | CORP              | GB        |    600000 | PA      | $537009.77    | 0.19%             | 2041-04-18      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| Cooperatieve Rabobank U.A.                                 | Cooperatieve Rabobank U.A.                                 | CUSIP: ZS3824902<br>LEI: DG3RU1DBUFHT4ZF9WN62 | Long             | DBT              | CORP              | NL        |    300000 | PA      | $323515.41    | 0.11%             | 2031-05-07      | Fixed         | 1.12%                 | No            |                  2 | On Loan: No      |
| BP Capital Markets PLC                                     | BP Capital Markets PLC                                     | CUSIP: ZS4387933<br>LEI: 549300CRVT18MXX0AG93 | Long             | DBT              | CORP              | GB        |    300000 | PA      | $325143.70    | 0.11%             | 2031-05-08      | Fixed         | 1.23%                 | No            |                  2 | On Loan: No      |
| Credit Agricole S.A.                                       | Credit Agricole S.A.                                       | CUSIP: ZS7515878<br>LEI: 969500TJ5KRTCJQWXH05 | Long             | DBT              | CORP              | FR        |    600000 | PA      | $676468.77    | 0.23%             | 2029-07-03      | Fixed         | 1.00%                 | No            |                  2 | On Loan: No      |
| Vodafone Group PLC                                         | Vodafone Group PLC                                         | CUSIP: ZS7759443<br>LEI: 213800TB53ELEUKM7Q61 | Long             | DBT              | CORP              | GB        |    200000 | PA      | $224623.85    | 0.08%             | 2030-11-24      | Fixed         | 1.62%                 | No            |                  2 | On Loan: No      |
| BNP Paribas                                                | BNP Paribas                                                | CUSIP: ZS7766299<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | DBT              | CORP              | FR        |    400000 | PA      | $453589.21    | 0.16%             | 2029-05-28      | Fixed         | 1.38%                 | No            |                  2 | On Loan: No      |
| Telenor ASA                                                | Telenor ASA                                                | CUSIP: ZS8244445<br>LEI: 549300IM1QSBY4SLPM26 | Long             | DBT              | CORP              | NO        |    300000 | PA      | $339204.21    | 0.12%             | 2029-05-31      | Fixed         | 1.12%                 | No            |                  2 | On Loan: No      |
| Banque Federative du Credit Mutuel                         | Banque Federative du Credit Mutuel                         | CUSIP: AZ0185357<br>LEI: VBHFXSYT7OG62HNT8T76 | Long             | DBT              | CORP              | FR        |    300000 | PA      | $344094.90    | 0.12%             | 2029-06-18      | Fixed         | 1.88%                 | No            |                  2 | On Loan: No      |
| Medtronic Global Holdings S.C.A.                           | Medtronic Global Holdings S.C.A.                           | CUSIP: 58507LAP4<br>LEI: 549300JXMTTP8GKYIX14 | Long             | DBT              | CORP              | LU        |    300000 | PA      | $269546.98    | 0.09%             | 2039-07-02      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| Motability Operations Group PLC                            | Motability Operations Group PLC                            | CUSIP: AZ3421593<br>LEI: AZ3NL8JCZDCNUXFWI720 | Long             | DBT              | CORP              | GB        |    400000 | PA      | $378588.21    | 0.13%             | 2039-07-03      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| BNP Paribas                                                | BNP Paribas                                                | CUSIP: AZ3212786<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | DBT              | CORP              | FR        |    400000 | PA      | $435278.46    | 0.15%             | 2031-07-02      | Fixed         | 1.62%                 | No            |                  2 | On Loan: No      |
| Intesa Sanpaolo S.p.A.                                     | Intesa Sanpaolo S.p.A.                                     | CUSIP: AZ3706928<br>LEI: 2W8N8UU78PMDQKZENC08 | Long             | DBT              | CORP              | IT        |    223000 | PA      | $256930.50    | 0.09%             | 2029-07-04      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| Logicor Financing S.a.r.l.                                 | Logicor Financing S.a.r.l.                                 | CUSIP: AZ5661865<br>LEI: 254900IS16Q1A2TQFN22 | Long             | DBT              | CORP              | LU        |    300000 | PA      | $352223.33    | 0.12%             | 2027-07-15      | Fixed         | 1.62%                 | No            |                  2 | On Loan: No      |
| E.ON International Finance B.V.                            | E.ON International Finance B.V.                            | CUSIP: EH8827261<br>LEI: 549300TG53AWJ719M814 | Long             | DBT              | CORP              | NL        |    900000 | PA      | $1259138.20   | 0.44%             | 2039-07-06      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| Siemens Financieringsmaatschappij N.V.                     | Siemens Financieringsmaatschappij N.V.                     | CUSIP: ZR3437335<br>LEI: TAFO772JB70PDRN5VS48 | Long             | DBT              | CORP              | NL        |    200000 | PA      | $192843.51    | 0.07%             | 2034-09-05      | Fixed         | 0.50%                 | No            |                  2 | On Loan: No      |
| Orange                                                     | Orange                                                     | CUSIP: ZR3637900<br>LEI: 969500MCOONR8990S771 | Long             | DBT              | CORP              | FR        |    200000 | PA      | $200765.44    | 0.07%             | 2032-09-04      | Fixed         | 0.50%                 | No            |                  2 | On Loan: No      |
| UBS Group AG                                               | UBS Group AG                                               | CUSIP: ZR4413319<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |    300000 | PA      | $330142.31    | 0.11%             | 2029-09-10      | Fixed         | 0.65%                 | No            |                  2 | On Loan: No      |
| Dassault Systemes                                          | Dassault Systemes                                          | CUSIP: ZR5213734<br>LEI: 96950065LBWY0APQIM86 | Long             | DBT              | CORP              | FR        |    300000 | PA      | $328700.33    | 0.11%             | 2029-09-16      | Fixed         | 0.38%                 | No            |                  2 | On Loan: No      |
| Wintershall Dea Finance BV (1)                             | Wintershall Dea Finance BV (1)                             | CUSIP: ZR6354826<br>LEI: 529900SUC9JUI6M74U66 | Long             | DBT              | CORP              | NL        |    300000 | PA      | $341010.23    | 0.12%             | 2028-09-25      | Fixed         | 1.33%                 | No            |                  2 | On Loan: No      |
| Wintershall Dea Finance BV (1)                             | Wintershall Dea Finance BV (1)                             | CUSIP: ZR6354867<br>LEI: 529900SUC9JUI6M74U66 | Long             | DBT              | CORP              | NL        |    300000 | PA      | $321092.49    | 0.11%             | 2031-09-25      | Fixed         | 1.82%                 | No            |                  2 | On Loan: No      |
| Sumitomo Mitsui Financial Group, Inc.                      | Sumitomo Mitsui Financial Group, Inc.                      | CUSIP: ZQ1216766<br>LEI: 35380028MYWPB6AUO129 | Long             | DBT              | CORP              | JP        |    325000 | PA      | $357516.25    | 0.12%             | 2029-10-23      | Fixed         | 0.63%                 | No            |                  2 | On Loan: No      |
| Engie                                                      | Engie                                                      | CUSIP: ZQ1735765<br>LEI: LAXUQCHT4FH58LRZDY46 | Long             | DBT              | CORP              | FR        |    300000 | PA      | $319183.57    | 0.11%             | 2030-10-24      | Fixed         | 0.50%                 | No            |                  2 | On Loan: No      |
| Action Logement Services                                   | Action Logement Services                                   | CUSIP: ZQ2185309<br>LEI: 969500O2QYH3YW92C551 | Long             | DBT              | NUSS              | FR        |    400000 | PA      | $371083.27    | 0.13%             | 2034-10-30      | Fixed         | 0.50%                 | No            |                  2 | On Loan: No      |
| Mercedes-Benz Group AG                                     | Mercedes-Benz Group AG                                     | CUSIP: ZQ3764136<br>LEI: 529900R27DL06UVNT076 | Long             | DBT              | CORP              | DE        |    300000 | PA      | $321601.83    | 0.11%             | 2031-11-06      | Fixed         | 1.12%                 | No            |                  2 | On Loan: No      |
| Skandinaviska Enskilda Banken AB                           | Skandinaviska Enskilda Banken AB                           | CUSIP: ZQ4375486<br>LEI: F3JS33DEI6XQ4ZBPTN86 | Long             | DBT              | CORP              | SE        |    200000 | PA      | $219324.98    | 0.08%             | 2029-11-12      | Fixed         | 0.62%                 | No            |                  2 | On Loan: No      |
| Shell International Finance B.V.                           | Shell International Finance B.V.                           | CUSIP: ZQ4666835<br>LEI: 213800ITMMKU4Z7I4F78 | Long             | DBT              | CORP              | NL        |    300000 | PA      | $310861.33    | 0.11%             | 2031-11-08      | Fixed         | 0.50%                 | No            |                  2 | On Loan: No      |
| Shell International Finance B.V.                           | Shell International Finance B.V.                           | CUSIP: ZQ4666843<br>LEI: 213800ITMMKU4Z7I4F78 | Long             | DBT              | CORP              | NL        |    200000 | PA      | $159467.52    | 0.06%             | 2039-11-08      | Fixed         | 0.88%                 | No            |                  2 | On Loan: No      |
| EssilorLuxottica                                           | EssilorLuxottica                                           | CUSIP: ZQ7076404<br>LEI: 549300M3VH1A3ER1TB49 | Long             | DBT              | CORP              | FR        |    300000 | PA      | $314707.79    | 0.11%             | 2031-11-27      | Fixed         | 0.75%                 | No            |                  2 | On Loan: No      |
| Banque Federative du Credit Mutuel                         | Banque Federative du Credit Mutuel                         | CUSIP: ZP3535157<br>LEI: VBHFXSYT7OG62HNT8T76 | Long             | DBT              | CORP              | FR        |    300000 | PA      | $327682.77    | 0.11%             | 2030-01-17      | Fixed         | 0.75%                 | No            |                  2 | On Loan: No      |
| Credit Agricole S.A.                                       | Credit Agricole S.A.                                       | CUSIP: ZP3171193<br>LEI: 969500TJ5KRTCJQWXH05 | Long             | DBT              | CORP              | FR        |    700000 | PA      | $728664.32    | 0.25%             | 2032-01-14      | Fixed         | 0.88%                 | No            |                  2 | On Loan: No      |
| Eni S.p.A.                                                 | Eni S.p.A.                                                 | CUSIP: ZP5396533<br>LEI: BUCRF72VH5RBN7X3VL35 | Long             | DBT              | CORP              | IT        |    300000 | PA      | $328116.24    | 0.11%             | 2030-01-23      | Fixed         | 0.62%                 | No            |                  2 | On Loan: No      |
| Telefonica Emisiones, S.A.                                 | Telefonica Emisiones, S.A.                                 | CUSIP: ZP7076257<br>LEI: 549300Y5MFC4SW5Z3K71 | Long             | DBT              | CORP              | ES        |    300000 | PA      | $327344.80    | 0.11%             | 2030-02-03      | Fixed         | 0.66%                 | No            |                  2 | On Loan: No      |
| LVMH Moet Hennessy Louis Vuitton                           | LVMH Moet Hennessy Louis Vuitton                           | CUSIP: ZP9016616<br>LEI: IOG4E947OATN0KJYSD45 | Long             | DBT              | CORP              | FR        |    300000 | PA      | $317902.87    | 0.11%             | 2031-02-11      | Fixed         | 0.38%                 | No            |                  2 | On Loan: No      |
| Svenska Handelsbanken AB                                   | Svenska Handelsbanken AB                                   | CUSIP: BG0130305<br>LEI: NHBDILHZTYCNBV5UYZ31 | Long             | DBT              | CORP              | SE        |    300000 | PA      | $324130.18    | 0.11%             | 2030-02-18      | Fixed         | 0.50%                 | No            |                  2 | On Loan: No      |
| Norway Government Bond                                     | Norway Government Bond, Series 482                         | CUSIP: BG0207897<br>LEI: 549300L0BT3FJTN9MX24 | Long             | DBT              | NUSS              | NO        |   3900000 | PA      | $363357.52    | 0.13%             | 2030-08-19      | Fixed         | 1.38%                 | No            |                  2 | On Loan: No      |
| Invesco Government & Agency Portfolio                      | Invesco Government & Agency Portfolio, Institutional Class | CUSIP: 825252885<br>LEI: 5493007T1J7WZ5QI1A47 | Long             | STIV             | RF                | US        |    946244 | NS      | $946244.04    | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Unilever Finance Netherlands B.V.                          | Unilever Finance Netherlands B.V.                          | CUSIP: BH1675454<br>LEI: 549300SWJ4YK4LLNT176 | Long             | DBT              | CORP              | NL        |    300000 | PA      | $343619.63    | 0.12%             | 2030-03-25      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| Sanofi                                                     | Sanofi                                                     | CUSIP: BH2917509<br>LEI: 549300E9PC51EN656011 | Long             | DBT              | CORP              | FR        |    200000 | PA      | $228188.17    | 0.08%             | 2030-04-01      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| Diageo Finance PLC                                         | Diageo Finance PLC                                         | CUSIP: BH2918259<br>LEI: BPF79TJMIH3DK8XCKI50 | Long             | DBT              | CORP              | GB        |    300000 | PA      | $344217.37    | 0.12%             | 2032-03-27      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Aeroports de Paris                                         | Aeroports de Paris                                         | CUSIP: BH3926889<br>LEI: 969500PJMBSFHYC37989 | Long             | DBT              | CORP              | FR        |    400000 | PA      | $473831.17    | 0.16%             | 2030-04-02      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| Rogers Communications Inc.                                 | Rogers Communications Inc.                                 | CUSIP: 775109BK6<br>LEI: 5493000M6Z4XFIP6PF03 | Long             | DBT              | CORP              | CA        |   1400000 | PA      | $1041364.69   | 0.36%             | 2027-03-31      | Fixed         | 3.65%                 | No            |                  2 | On Loan: No      |
| Sweden Government Bond                                     | Sweden Government Bond                                     | CUSIP: BH0661356<br>LEI: ERE94C0BSULG2RM19605 | Long             | DBT              | NUSS              | SE        |   2200000 | PA      | $221542.78    | 0.08%             | 2031-05-12      | Fixed         | 0.12%                 | No            |                  2 | On Loan: No      |
| Airbus SE                                                  | Airbus SE                                                  | CUSIP: BH4727377<br>LEI: MINO79WLOO247M1IL051 | Long             | DBT              | CORP              | NL        |    300000 | PA      | $346818.89    | 0.12%             | 2032-04-07      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| TotalEnergies Capital International                        | TotalEnergies Capital International                        | CUSIP: BH4959657<br>LEI: 549300U37G2I8G4RUG09 | Long             | DBT              | CORP              | FR        |    400000 | PA      | $446004.00    | 0.15%             | 2032-04-08      | Fixed         | 1.99%                 | No            |                  2 | On Loan: No      |
| Pernod Ricard                                              | Pernod Ricard                                              | CUSIP: BH4959517<br>LEI: 52990097YFPX9J0H5D87 | Long             | DBT              | CORP              | FR        |    200000 | PA      | $227403.60    | 0.08%             | 2030-04-08      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| TransCanada Pipelines Ltd.                                 | TransCanada Pipelines Ltd.                                 | CUSIP: 89353ZCF3<br>LEI: 5BV01I6231JPDAPMGH09 | Long             | DBT              | CORP              | CA        |   1750000 | PA      | $1302558.80   | 0.45%             | 2027-04-05      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| BP Capital Markets PLC                                     | BP Capital Markets PLC                                     | CUSIP: BH5287462<br>LEI: 549300CRVT18MXX0AG93 | Long             | DBT              | CORP              | GB        |    400000 | PA      | $465399.10    | 0.16%             | 2032-04-07      | Fixed         | 2.82%                 | No            |                  2 | On Loan: No      |
| Shell International Finance B.V.                           | Shell International Finance B.V.                           | CUSIP: BH5287496<br>LEI: 213800ITMMKU4Z7I4F78 | Long             | DBT              | CORP              | NL        |    300000 | PA      | $333281.18    | 0.12%             | 2032-04-07      | Fixed         | 1.88%                 | No            |                  2 | On Loan: No      |
| Capgemini SE                                               | Capgemini SE                                               | CUSIP: BH6823513<br>LEI: 96950077L0TN7BAROX36 | Long             | DBT              | CORP              | FR        |    300000 | PA      | $338960.73    | 0.12%             | 2032-04-15      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| Capgemini SE                                               | Capgemini SE                                               | CUSIP: BH6823505<br>LEI: 96950077L0TN7BAROX36 | Long             | DBT              | CORP              | FR        |    300000 | PA      | $348643.83    | 0.12%             | 2029-04-15      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Sanctuary Capital PLC                                      | Sanctuary Capital PLC                                      | CUSIP: BH5530325<br>LEI: 213800A6T7362M7XHO44 | Long             | DBT              | CORP              | GB        |    450000 | PA      | $334097.36    | 0.12%             | 2050-04-14      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| GlaxoSmithKline Capital PLC                                | GlaxoSmithKline Capital PLC                                | CUSIP: BJ2580659<br>LEI: 549300U0LV41VX7LEP38 | Long             | DBT              | CORP              | GB        |    700000 | PA      | $721802.11    | 0.25%             | 2035-05-12      | Fixed         | 1.62%                 | No            |                  2 | On Loan: No      |
| Shell International Finance B.V.                           | Shell International Finance B.V.                           | CUSIP: BJ2961693<br>LEI: 213800ITMMKU4Z7I4F78 | Long             | DBT              | CORP              | NL        |    300000 | PA      | $316551.99    | 0.11%             | 2032-11-11      | Fixed         | 1.25%                 | No            |                  2 | On Loan: No      |
| Nestle Finance International Ltd.                          | Nestle Finance International Ltd.                          | CUSIP: BJ3268171<br>LEI: 0KLLMNHINTFDRMU6DI05 | Long             | DBT              | CORP              | LU        |    250000 | PA      | $255891.32    | 0.09%             | 2032-05-12      | Fixed         | 0.38%                 | No            |                  2 | On Loan: No      |
| TotalEnergies Capital International                        | TotalEnergies Capital International                        | CUSIP: BJ4186380<br>LEI: 549300U37G2I8G4RUG09 | Long             | DBT              | CORP              | FR        |    300000 | PA      | $263463.19    | 0.09%             | 2040-05-18      | Fixed         | 1.62%                 | No            |                  2 | On Loan: No      |
| Invesco Private Government Fund                            | Invesco Private Government Fund                            | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             | PF                | US        |    161903 | NS      | $161902.93    | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| Reckitt Benckiser Treasury Services PLC                    | Reckitt Benckiser Treasury Services PLC                    | CUSIP: BJ4447741<br>LEI: 213800LAXWIUOOBZ3908 | Long             | DBT              | CORP              | GB        |    400000 | PA      | $465891.06    | 0.16%             | 2032-05-19      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| Eni S.p.A.                                                 | Eni S.p.A.                                                 | CUSIP: BJ4186984<br>LEI: BUCRF72VH5RBN7X3VL35 | Long             | DBT              | CORP              | IT        |    150000 | PA      | $170190.43    | 0.06%             | 2031-05-18      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Bell Canada                                                | Bell Canada                                                | CUSIP: 07813ZCE2<br>LEI: 5493000G3EFX9S7TDE29 | Long             | DBT              | CORP              | CA        |    850000 | PA      | $606954.55    | 0.21%             | 2030-05-14      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Equinor ASA                                                | Equinor ASA                                                | CUSIP: BJ5707697<br>LEI: OW6OFBNCKXC4US5C7523 | Long             | DBT              | CORP              | NO        |    300000 | PA      | $320980.01    | 0.11%             | 2032-05-22      | Fixed         | 1.38%                 | No            |                  2 | On Loan: No      |
| Banque Federative du Credit Mutuel                         | Banque Federative du Credit Mutuel                         | CUSIP: BJ7123638<br>LEI: VBHFXSYT7OG62HNT8T76 | Long             | DBT              | CORP              | FR        |    200000 | PA      | $220730.18    | 0.08%             | 2030-06-03      | Fixed         | 1.25%                 | No            |                  2 | On Loan: No      |
| Airbus SE                                                  | Airbus SE                                                  | CUSIP: BJ8145234<br>LEI: MINO79WLOO247M1IL051 | Long             | DBT              | CORP              | NL        |    300000 | PA      | $340793.54    | 0.12%             | 2030-06-09      | Fixed         | 1.62%                 | No            |                  2 | On Loan: No      |
| Airbus SE                                                  | Airbus SE                                                  | CUSIP: BJ8145242<br>LEI: MINO79WLOO247M1IL051 | Long             | DBT              | CORP              | NL        |    300000 | PA      | $300326.50    | 0.10%             | 2040-06-09      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| Societe Generale                                           | Societe Generale                                           | CUSIP: BJ9231801<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | DBT              | CORP              | FR        |    400000 | PA      | $441664.31    | 0.15%             | 2030-06-12      | Fixed         | 1.25%                 | No            |                  2 | On Loan: No      |
| First Nations Finance Authority                            | First Nations Finance Authority                            | CUSIP: 32117DAC8<br>LEI: 549300L0OY1XOUXDPF41 | Long             | DBT              | NUSS              | CA        |    900000 | PA      | $627863.24    | 0.22%             | 2030-06-16      | Fixed         | 1.71%                 | No            |                  2 | On Loan: No      |
| Takeda Pharmaceutical Co. Ltd.                             | Takeda Pharmaceutical Co. Ltd.                             | CUSIP: 874060BC9<br>LEI: 549300ZLMVP4X0OGR454 | Long             | DBT              | CORP              | JP        |    300000 | PA      | $317832.35    | 0.11%             | 2032-07-09      | Fixed         | 1.38%                 | No            |                  2 | On Loan: No      |
| Takeda Pharmaceutical Co. Ltd.                             | Takeda Pharmaceutical Co. Ltd.                             | CUSIP: 874060BE5<br>LEI: 549300ZLMVP4X0OGR454 | Long             | DBT              | CORP              | JP        |    200000 | PA      | $182794.07    | 0.06%             | 2040-07-09      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Stellantis N.V.                                            | Stellantis N.V.                                            | CUSIP: BK3068016<br>LEI: 549300LKT9PW7ZIBDF31 | Long             | DBT              | CORP              | NL        |    300000 | PA      | $372080.37    | 0.13%             | 2028-07-07      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Bayer AG                                                   | Bayer AG                                                   | CUSIP: BK3220856<br>LEI: 549300J4U55H3WP1XT59 | Long             | DBT              | CORP              | DE        |    400000 | PA      | $444691.64    | 0.15%             | 2030-01-06      | Fixed         | 1.12%                 | No            |                  2 | On Loan: No      |
| Bayer AG                                                   | Bayer AG                                                   | CUSIP: BK3220864<br>LEI: 549300J4U55H3WP1XT59 | Long             | DBT              | CORP              | DE        |    300000 | PA      | $317963.38    | 0.11%             | 2032-07-06      | Fixed         | 1.38%                 | No            |                  2 | On Loan: No      |
| Credit Agricole Assurances                                 | Credit Agricole Assurances                                 | CUSIP: BK4148171<br>LEI: 969500K2MUPSI57XK083 | Long             | DBT              | CORP              | FR        |    300000 | PA      | $339024.20    | 0.12%             | 2030-07-17      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Invesco Private Prime Fund                                 | Invesco Private Prime Fund                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             | PF                | US        |    420687 | NS      | $420687.17    | 0.15%             |  |  |  | No            |                  2 | On Loan: No      |
| Shell International Finance B.V.                           | Shell International Finance B.V.                           | CUSIP: N/A<br>LEI: 213800ITMMKU4Z7I4F78       | Long             | DBT              | CORP              | NL        |    300000 | PA      | $188974.63    | 0.07%             | 2052-09-10      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| Mercedes-Benz Group AG                                     | Mercedes-Benz Group AG                                     | CUSIP: N/A<br>LEI: 529900R27DL06UVNT076       | Long             | DBT              | CORP              | DE        |    200000 | PA      | $217273.19    | 0.08%             | 2030-09-10      | Fixed         | 0.75%                 | No            |                  2 | On Loan: No      |
| Volkswagen International Finance N.V.                      | Volkswagen International Finance N.V.                      | CUSIP: N/A<br>LEI: 5299004PWNHKYTR23649       | Long             | DBT              | CORP              | NL        |    400000 | PA      | $454042.15    | 0.16%             | 2028-09-22      | Fixed         | 0.88%                 | No            |                  2 | On Loan: No      |
| Unipol Assicurazioni S.p.A.                                | Unipol Assicurazioni S.p.A.                                | CUSIP: N/A<br>LEI: 8156005CE5E7340CCA86       | Long             | DBT              | CORP              | IT        |    300000 | PA      | $363700.53    | 0.13%             | 2030-09-23      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Medtronic Global Holdings S.C.A.                           | Medtronic Global Holdings S.C.A.                           | CUSIP: N/A<br>LEI: 549300JXMTTP8GKYIX14       | Long             | DBT              | CORP              | LU        |    300000 | PA      | $254161.50    | 0.09%             | 2040-10-15      | Fixed         | 1.38%                 | No            |                  2 | On Loan: No      |
| Medtronic Global Holdings S.C.A.                           | Medtronic Global Holdings S.C.A.                           | CUSIP: N/A<br>LEI: 549300JXMTTP8GKYIX14       | Long             | DBT              | CORP              | LU        |    300000 | PA      | $209249.06    | 0.07%             | 2050-10-15      | Fixed         | 1.62%                 | No            |                  2 | On Loan: No      |
| Medtronic Global Holdings S.C.A.                           | Medtronic Global Holdings S.C.A.                           | CUSIP: N/A<br>LEI: 549300JXMTTP8GKYIX14       | Long             | DBT              | CORP              | LU        |    200000 | PA      | $204294.17    | 0.07%             | 2032-10-15      | Fixed         | 0.75%                 | No            |                  2 | On Loan: No      |
| Medtronic Global Holdings S.C.A.                           | Medtronic Global Holdings S.C.A.                           | CUSIP: N/A<br>LEI: 549300JXMTTP8GKYIX14       | Long             | DBT              | CORP              | LU        |    300000 | PA      | $337201.64    | 0.12%             | 2028-10-15      | Fixed         | 0.38%                 | No            |                  2 | On Loan: No      |
| Mizuho Financial Group, Inc.                               | Mizuho Financial Group, Inc.                               | CUSIP: N/A<br>LEI: 353800CI5L6DDAN5XZ33       | Long             | DBT              | CORP              | JP        |    300000 | PA      | $322025.53    | 0.11%             | 2030-10-07      | Fixed         | 0.69%                 | No            |                  2 | On Loan: No      |
| Banque Federative du Credit Mutuel                         | Banque Federative du Credit Mutuel                         | CUSIP: N/A<br>LEI: VBHFXSYT7OG62HNT8T76       | Long             | DBT              | CORP              | FR        |    400000 | PA      | $419514.00    | 0.15%             | 2031-02-21      | Fixed         | 0.62%                 | No            |                  2 | On Loan: No      |
| Banco Santander S.A.                                       | Banco Santander S.A.                                       | CUSIP: N/A<br>LEI: 5493006QMFDDMYWIAM13       | Long             | DBT              | CORP              | ES        |    200000 | PA      | $222830.26    | 0.08%             | 2030-10-22      | Fixed         | 1.62%                 | No            |                  2 | On Loan: No      |
| Cellnex Telecom, S.A.                                      | Cellnex Telecom, S.A.                                      | CUSIP: N/A<br>LEI: 5493008T4YG3AQUI7P67       | Long             | DBT              | CORP              | ES        |    300000 | PA      | $335829.99    | 0.12%             | 2030-10-23      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| Blend Funding PLC                                          | Blend Funding PLC                                          | CUSIP: AX9449965<br>LEI: 213800Y8TMLUT9SN1E94 | Long             | DBT              | CORP              | GB        |    500000 | PA      | $402744.05    | 0.14%             | 2054-04-05      | Fixed         | 2.92%                 | No            |                  2 | On Loan: No      |
| BNP Paribas                                                | BNP Paribas                                                | CUSIP: BM7804792<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | DBT              | CORP              | FR        |    500000 | PA      | $495658.42    | 0.17%             | 2032-12-03      | Fixed         | 0.62%                 | No            |                  2 | On Loan: No      |
| Unibail-Rodamco-Westfield SE                               | Unibail-Rodamco-Westfield SE                               | CUSIP: BM7553647<br>LEI: 969500SHQITWXSIS7N89 | Long             | DBT              | CORP              | FR        |    300000 | PA      | $317999.22    | 0.11%             | 2031-12-04      | Fixed         | 1.38%                 | No            |                  2 | On Loan: No      |
| Deutsche Bahn AG                                           | Deutsche Bahn AG                                           | CUSIP: BM8529471<br>LEI: 52990063S23N13HU4E98 | Long             | DBT              | CORP              | DE        |    248000 | PA      | $137692.74    | 0.05%             | 2050-12-08      | Fixed         | 0.62%                 | No            |                  2 | On Loan: No      |
| Autostrade Per L'Italia S.p.A.                             | Autostrade Per L'Italia S.p.A.                             | CUSIP: BM8534356<br>LEI: 815600149448CEB9B230 | Long             | DBT              | CORP              | IT        |    300000 | PA      | $350558.46    | 0.12%             | 2028-12-04      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| NTT Finance Corp.                                          | NTT Finance Corp., Series 17                               | CUSIP: BM6012215<br>LEI: 3538007PR116187GD960 | Long             | DBT              | CORP              | JP        | 200000000 | PA      | $1266076.17   | 0.44%             | 2027-12-20      | Fixed         | 0.28%                 | No            |                  2 | On Loan: No      |
| NTT Finance Corp.                                          | NTT Finance Corp., Series 18                               | CUSIP: BM6012231<br>LEI: 3538007PR116187GD960 | Long             | DBT              | CORP              | JP        | 300000000 | PA      | $1802451.32   | 0.63%             | 2030-09-20      | Fixed         | 0.38%                 | No            |                  2 | On Loan: No      |
| BNP Paribas                                                | BNP Paribas                                                | CUSIP: BN3635164<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | DBT              | CORP              | FR        |    700000 | PA      | $795161.96    | 0.28%             | 2031-07-13      | Fixed         | 1.25%                 | No            |                  2 | On Loan: No      |
| BPCE S.A.                                                  | BPCE S.A.                                                  | CUSIP: BN3350699<br>LEI: 9695005MSX1OYEMGDF46 | Long             | DBT              | CORP              | FR        |    400000 | PA      | $415603.56    | 0.14%             | 2031-01-14      | Fixed         | 0.25%                 | No            |                  2 | On Loan: No      |
| Bayer AG                                                   | Bayer AG                                                   | CUSIP: BN3908918<br>LEI: 549300J4U55H3WP1XT59 | Long             | DBT              | CORP              | DE        |    300000 | PA      | $334287.81    | 0.12%             | 2029-01-12      | Fixed         | 0.38%                 | No            |                  2 | On Loan: No      |
| Grand City Properties S.A.                                 | Grand City Properties S.A.                                 | CUSIP: BN3335799<br>LEI: 5299002QLUYKK2WBMB18 | Long             | DBT              | CORP              | LU        |    300000 | PA      | $339844.26    | 0.12%             | 2028-01-11      | Fixed         | 0.12%                 | No            |                  2 | On Loan: No      |
| Bayer AG                                                   | Bayer AG                                                   | CUSIP: BN3908926<br>LEI: 549300J4U55H3WP1XT59 | Long             | DBT              | CORP              | DE        |    300000 | PA      | $312736.04    | 0.11%             | 2031-07-12      | Fixed         | 0.62%                 | No            |                  2 | On Loan: No      |
| Banque Federative du Credit Mutuel                         | Banque Federative du Credit Mutuel                         | CUSIP: BN4539316<br>LEI: VBHFXSYT7OG62HNT8T76 | Long             | DBT              | CORP              | FR        |    300000 | PA      | $336973.76    | 0.12%             | 2028-07-19      | Fixed         | 0.25%                 | No            |                  2 | On Loan: No      |
| UniCredit S.p.A.                                           | UniCredit S.p.A.                                           | CUSIP: BN4840375<br>LEI: 549300TRUWO2CD2G5692 | Long             | DBT              | CORP              | IT        |    213000 | PA      | $229018.10    | 0.08%             | 2031-01-19      | Fixed         | 0.85%                 | No            |                  2 | On Loan: No      |
| UBS Group AG                                               | UBS Group AG                                               | CUSIP: BN4537054<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |    348000 | PA      | $343349.46    | 0.12%             | 2033-01-18      | Fixed         | 0.62%                 | No            |                  2 | On Loan: No      |
| Autostrade Per L'Italia S.p.A.                             | Autostrade Per L'Italia S.p.A.                             | CUSIP: BN4840177<br>LEI: 815600149448CEB9B230 | Long             | DBT              | CORP              | IT        |    300000 | PA      | $343256.62    | 0.12%             | 2030-01-15      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Cellnex Finance Co., S.A.                                  | Cellnex Finance Co., S.A.                                  | CUSIP: BN9906411<br>LEI: 549300OUROMFTRFA7T23 | Long             | DBT              | CORP              | ES        |    300000 | PA      | $322122.98    | 0.11%             | 2033-02-15      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Norway Government Bond                                     | Norway Government Bond, Series 483                         | CUSIP: BN9945377<br>LEI: 549300L0BT3FJTN9MX24 | Long             | DBT              | NUSS              | NO        |   1350000 | PA      | $121470.16    | 0.04%             | 2031-09-17      | Fixed         | 1.25%                 | No            |                  2 | On Loan: No      |
| UBS Group AG                                               | UBS Group AG                                               | CUSIP: N/A<br>LEI: 549300SZJ9VS8SGXAN81       | Long             | DBT              | CORP              | CH        |    400000 | PA      | $393717.99    | 0.14%             | 2033-02-24      | Fixed         | 0.62%                 | No            |                  2 | On Loan: No      |
| BPCE S.A.                                                  | BPCE S.A.                                                  | CUSIP: N/A<br>LEI: 9695005MSX1OYEMGDF46       | Long             | DBT              | CORP              | FR        |    300000 | PA      | $315953.58    | 0.11%             | 2031-03-03      | Fixed         | 0.75%                 | No            |                  2 | On Loan: No      |
| easyJet FinCo B.V.                                         | easyJet FinCo B.V.                                         | CUSIP: N/A<br>LEI: 2138005GUMKABRAKJU30       | Long             | DBT              | CORP              | NL        |    400000 | PA      | $469717.54    | 0.16%             | 2028-03-03      | Fixed         | 1.88%                 | No            |                  2 | On Loan: No      |
| NTT Finance Corp.                                          | NTT Finance Corp.                                          | CUSIP: N/A<br>LEI: 3538007PR116187GD960       | Long             | DBT              | CORP              | JP        |    300000 | PA      | $322859.25    | 0.11%             | 2030-03-03      | Fixed         | 0.34%                 | No            |                  2 | On Loan: No      |
| Mercedes-Benz Group AG                                     | Mercedes-Benz Group AG                                     | CUSIP: N/A<br>LEI: 529900R27DL06UVNT076       | Long             | DBT              | CORP              | DE        |    279000 | PA      | $281625.48    | 0.10%             | 2033-03-11      | Fixed         | 0.75%                 | No            |                  2 | On Loan: No      |
| Enel Finance International N.V.                            | Enel Finance International N.V.                            | CUSIP: EH9717404<br>LEI: 0YQH6LCEF474UTUV4B96 | Long             | DBT              | CORP              | NL        |   1200000 | PA      | $1623600.32   | 0.56%             | 2040-09-14      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Intesa Sanpaolo S.p.A.                                     | Intesa Sanpaolo S.p.A.                                     | CUSIP: N/A<br>LEI: 2W8N8UU78PMDQKZENC08       | Long             | DBT              | CORP              | IT        |    300000 | PA      | $344589.10    | 0.12%             | 2028-03-16      | Fixed         | 0.75%                 | No            |                  2 | On Loan: No      |
| Bell Canada                                                | Bell Canada                                                | CUSIP: 07813ZCG7<br>LEI: 5493000G3EFX9S7TDE29 | Long             | DBT              | CORP              | CA        |    850000 | PA      | $605881.18    | 0.21%             | 2031-03-17      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Imperial Brands Finance Netherlands B.V.                   | Imperial Brands Finance Netherlands B.V.                   | CUSIP: N/A<br>LEI: 724500GIEFJOBWGD0272       | Long             | DBT              | CORP              | NL        |    300000 | PA      | $312203.58    | 0.11%             | 2033-03-18      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| TRATON Finance Luxembourg S.A.                             | TRATON Finance Luxembourg S.A.                             | CUSIP: N/A<br>LEI: 529900BRKIE6LKIEXD84       | Long             | DBT              | CORP              | LU        |    300000 | PA      | $335318.55    | 0.12%             | 2029-03-24      | Fixed         | 0.75%                 | No            |                  2 | On Loan: No      |
| UBS AG                                                     | UBS AG                                                     | CUSIP: N/A<br>LEI: BFM8T61CT2L1QCEMIK50       | Long             | DBT              | CORP              | CH        |    200000 | PA      | $210280.34    | 0.07%             | 2031-03-31      | Fixed         | 0.50%                 | No            |                  2 | On Loan: No      |
| Deutsche Bahn AG                                           | Deutsche Bahn AG                                           | CUSIP: N/A<br>LEI: 52990063S23N13HU4E98       | Long             | DBT              | CORP              | DE        |    350000 | PA      | $317479.90    | 0.11%             | 2036-04-15      | Fixed         | 0.62%                 | No            |                  2 | On Loan: No      |
| Credit Agricole S.A.                                       | Credit Agricole S.A.                                       | CUSIP: BP0675150<br>LEI: 969500TJ5KRTCJQWXH05 | Long             | DBT              | CORP              | FR        |    700000 | PA      | $795278.49    | 0.28%             | 2028-04-20      | Fixed         | 0.38%                 | No            |                  2 | On Loan: No      |
| Cenovus Energy Inc.                                        | Cenovus Energy Inc.                                        | CUSIP: 15135UAT6<br>LEI: 549300F4XPHJ7NOSP309 | Long             | DBT              | CORP              | CA        |   1250000 | PA      | $928165.27    | 0.32%             | 2028-02-07      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| CCEP Finance (Ireland) DAC                                 | CCEP Finance (Ireland) DAC                                 | CUSIP: BP1765349<br>LEI: 549300C3FJ5JIMZNEN16 | Long             | DBT              | CORP              | IE        |    300000 | PA      | $301648.58    | 0.10%             | 2033-05-06      | Fixed         | 0.88%                 | No            |                  2 | On Loan: No      |
| B.A.T. International Finance PLC                           | B.A.T. International Finance PLC                           | CUSIP: N/A<br>LEI: 21380041YBGOQDFAC823       | Long             | DBT              | CORP              | GB        |    375000 | PA      | $538567.05    | 0.19%             | 2034-11-24      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Ontario Teachers' Finance Trust                            | Ontario Teachers' Finance Trust                            | CUSIP: BP4913474<br>LEI: 635400ZZE5J8OXXBBY26 | Long             | DBT              | NUSS              | CA        |    400000 | PA      | $319952.20    | 0.11%             | 2041-05-20      | Fixed         | 0.90%                 | No            |                  2 | On Loan: No      |
| Cellnex Finance Co., S.A.                                  | Cellnex Finance Co., S.A.                                  | CUSIP: BP7729000<br>LEI: 549300OUROMFTRFA7T23 | Long             | DBT              | CORP              | ES        |    400000 | PA      | $463971.70    | 0.16%             | 2028-06-08      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| Banque Federative du Credit Mutuel                         | Banque Federative du Credit Mutuel                         | CUSIP: BP7934204<br>LEI: VBHFXSYT7OG62HNT8T76 | Long             | DBT              | CORP              | FR        |    400000 | PA      | $449736.91    | 0.16%             | 2028-11-03      | Fixed         | 0.62%                 | No            |                  2 | On Loan: No      |
| ABN AMRO Bank N.V.                                         | ABN AMRO Bank N.V.                                         | CUSIP: BP7909644<br>LEI: BFXS5XCH7N0Y05NIXW11 | Long             | DBT              | CORP              | NL        |    300000 | PA      | $302151.01    | 0.10%             | 2033-06-02      | Fixed         | 1.00%                 | No            |                  2 | On Loan: No      |
| Enel Finance International N.V.                            | Enel Finance International N.V.                            | CUSIP: BP9829816<br>LEI: 0YQH6LCEF474UTUV4B96 | Long             | DBT              | CORP              | NL        |    300000 | PA      | $269171.16    | 0.09%             | 2036-06-17      | Fixed         | 0.88%                 | No            |                  2 | On Loan: No      |
| Stellantis N.V.                                            | Stellantis N.V.                                            | CUSIP: BQ0606054<br>LEI: 549300LKT9PW7ZIBDF31 | Long             | DBT              | CORP              | NL        |    300000 | PA      | $336521.20    | 0.12%             | 2029-01-18      | Fixed         | 0.75%                 | No            |                  2 | On Loan: No      |
| Stellantis N.V.                                            | Stellantis N.V.                                            | CUSIP: BQ0603630<br>LEI: 549300LKT9PW7ZIBDF31 | Long             | DBT              | CORP              | NL        |    400000 | PA      | $391416.81    | 0.14%             | 2033-06-20      | Fixed         | 1.25%                 | No            |                  2 | On Loan: No      |
| Deutsche Bahn AG                                           | Deutsche Bahn AG                                           | CUSIP: BQ2152438<br>LEI: 52990063S23N13HU4E98 | Long             | DBT              | CORP              | DE        |    251000 | PA      | $160562.40    | 0.06%             | 2051-05-29      | Fixed         | 1.12%                 | No            |                  2 | On Loan: No      |
| Prosus N.V.                                                | Prosus N.V.                                                | CUSIP: BQ4156072<br>LEI: 635400Z5LQ5F9OLVT688 | Long             | DBT              | CORP              | NL        |    200000 | PA      | $224337.37    | 0.08%             | 2029-07-13      | Fixed         | 1.29%                 | No            |                  2 | On Loan: No      |
| Wellcome Trust Ltd. (The)                                  | Wellcome Trust Ltd. (The)                                  | CUSIP: BQ3968642<br>LEI: 549300YQJTZ9YPHW5V73 | Long             | DBT              | CORP              | GB        |    620000 | PA      | $290939.64    | 0.10%             | 2071-07-14      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| Action Logement Services                                   | Action Logement Services                                   | CUSIP: BQ4527314<br>LEI: 969500O2QYH3YW92C551 | Long             | DBT              | NUSS              | FR        |    300000 | PA      | $221296.70    | 0.08%             | 2041-07-19      | Fixed         | 0.75%                 | No            |                  2 | On Loan: —       |
| Volkswagen Financial Services AG                           | Volkswagen Financial Services AG                           | CUSIP: BQ8993686<br>LEI: 529900SSGT49ZZSWYE62 | Long             | DBT              | CORP              | DE        |    308000 | PA      | $358174.93    | 0.12%             | 2027-02-12      | Fixed         | 0.12%                 | No            |                  2 | On Loan: No      |
| Vonovia SE                                                 | Vonovia SE                                                 | CUSIP: BR1517753<br>LEI: 5299005A2ZEP6AP7KM81 | Long             | DBT              | CORP              | DE        |    300000 | PA      | $299807.41    | 0.10%             | 2032-09-01      | Fixed         | 0.75%                 | No            |                  2 | On Loan: No      |
| Vonovia SE                                                 | Vonovia SE                                                 | CUSIP: BR1517746<br>LEI: 5299005A2ZEP6AP7KM81 | Long             | DBT              | CORP              | DE        |    400000 | PA      | $447454.27    | 0.16%             | 2028-09-01      | Fixed         | 0.25%                 | No            |                  2 | On Loan: No      |
| Svenska Handelsbanken AB                                   | Svenska Handelsbanken AB                                   | CUSIP: BR1906097<br>LEI: NHBDILHZTYCNBV5UYZ31 | Long             | DBT              | CORP              | SE        |    300000 | PA      | $335630.85    | 0.12%             | 2028-09-06      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| Holcim Finance (Luxembourg) S.A.                           | Holcim Finance (Luxembourg) S.A.                           | CUSIP: BR2429784<br>LEI: 529900XU3Z9D2HLBR716 | Long             | DBT              | CORP              | LU        |    300000 | PA      | $319889.83    | 0.11%             | 2030-09-03      | Fixed         | 0.50%                 | No            |                  2 | On Loan: No      |
| BNP Paribas                                                | BNP Paribas                                                | CUSIP: BR3179099<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | DBT              | CORP              | FR        |    500000 | PA      | $496908.54    | 0.17%             | 2036-09-13      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| ABN AMRO Bank N.V.                                         | ABN AMRO Bank N.V.                                         | CUSIP: BR4722566<br>LEI: BFXS5XCH7N0Y05NIXW11 | Long             | DBT              | CORP              | NL        |    400000 | PA      | $437538.54    | 0.15%             | 2029-09-23      | Fixed         | 0.50%                 | No            |                  2 | On Loan: No      |
| Enel Finance International N.V.                            | Enel Finance International N.V.                            | CUSIP: BR5522809<br>LEI: 0YQH6LCEF474UTUV4B96 | Long             | DBT              | CORP              | NL        |    370000 | PA      | $353247.29    | 0.12%             | 2034-09-28      | Fixed         | 0.88%                 | No            |                  2 | On Loan: No      |
| Action Logement Services                                   | Action Logement Services                                   | CUSIP: BR6667801<br>LEI: 969500O2QYH3YW92C551 | Long             | DBT              | NUSS              | FR        |    200000 | PA      | $205457.59    | 0.07%             | 2031-10-05      | Fixed         | 0.38%                 | No            |                  2 | On Loan: No      |
| Credit Agricole Assurances                                 | Credit Agricole Assurances                                 | CUSIP: BR6668346<br>LEI: 969500K2MUPSI57XK083 | Long             | DBT              | CORP              | FR        |    200000 | PA      | $215493.91    | 0.07%             | 2031-10-06      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| Nordea Bank Abp                                            | Nordea Bank Abp                                            | CUSIP: BS1024709<br>LEI: 529900ODI3047E2LIV03 | Long             | DBT              | CORP              | FI        |    300000 | PA      | $337273.13    | 0.12%             | 2028-11-02      | Fixed         | 0.50%                 | No            |                  2 | On Loan: No      |
| Banco Santander S.A.                                       | Banco Santander S.A.                                       | CUSIP: BS1696548<br>LEI: 5493006QMFDDMYWIAM13 | Long             | DBT              | CORP              | ES        |    300000 | PA      | $318267.76    | 0.11%             | 2031-11-04      | Fixed         | 1.00%                 | No            |                  2 | On Loan: —       |
| UBS Group AG                                               | UBS Group AG                                               | CUSIP: BS1695607<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |    400000 | PA      | $419107.75    | 0.15%             | 2031-11-03      | Fixed         | 0.88%                 | No            |                  2 | On Loan: No      |
| Bouygues                                                   | Bouygues                                                   | CUSIP: BS1722500<br>LEI: 969500MOCLNQFNZN0D63 | Long             | DBT              | CORP              | FR        |    200000 | PA      | $218064.83    | 0.08%             | 2030-02-11      | Fixed         | 0.50%                 | No            |                  2 | On Loan: No      |
| TenneT Netherlands B.V.                                    | TenneT Netherlands B.V.                                    | CUSIP: BS2674494<br>LEI: 724500N24X9VLIRO3K10 | Long             | DBT              | CORP              | NL        |    300000 | PA      | $293121.64    | 0.10%             | 2035-06-16      | Fixed         | 0.88%                 | No            |                  2 | On Loan: No      |
| ASTM S.p.A.                                                | ASTM S.p.A.                                                | CUSIP: BS4792872<br>LEI: 8156003F2286CFA55E20 | Long             | DBT              | CORP              | IT        |    325000 | PA      | $366055.73    | 0.13%             | 2030-01-25      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| ASTM S.p.A.                                                | ASTM S.p.A.                                                | CUSIP: BS4792906<br>LEI: 8156003F2286CFA55E20 | Long             | DBT              | CORP              | IT        |    300000 | PA      | $322293.98    | 0.11%             | 2033-11-25      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| Orange                                                     | Orange                                                     | CUSIP: BS8953389<br>LEI: 969500MCOONR8990S771 | Long             | DBT              | CORP              | FR        |    300000 | PA      | $289991.80    | 0.10%             | 2033-12-16      | Fixed         | 0.62%                 | No            |                  2 | On Loan: No      |
| Aroundtown S.A.                                            | Aroundtown S.A.                                            | CUSIP: BS9539989<br>LEI: 529900H4DWG3KWMBMQ39 | Long             | DBT              | CORP              | LU        |    200000 | PA      | $231786.87    | 0.08%             | 2027-04-15      | Fixed         | 0.38%                 | No            |                  2 | On Loan: No      |
| Credit Agricole S.A.                                       | Credit Agricole S.A.                                       | CUSIP: BT3322356<br>LEI: 969500TJ5KRTCJQWXH05 | Long             | DBT              | CORP              | FR        |    200000 | PA      | $208670.71    | 0.07%             | 2032-07-12      | Fixed         | 1.12%                 | No            |                  2 | On Loan: No      |
| BPCE S.A.                                                  | BPCE S.A.                                                  | CUSIP: BT3114423<br>LEI: 9695005MSX1OYEMGDF46 | Long             | DBT              | CORP              | FR        |    300000 | PA      | $312131.69    | 0.11%             | 2032-01-14      | Fixed         | 1.00%                 | No            |                  2 | On Loan: No      |
| Volkswagen Financial Services N.V.                         | Volkswagen Financial Services N.V.                         | CUSIP: BT4564782<br>LEI: 529900ZTQC8D1TW6BL41 | Long             | DBT              | CORP              | NL        |    400000 | PA      | $525428.02    | 0.18%             | 2028-01-18      | Fixed         | 2.12%                 | No            |                  2 | On Loan: No      |
| Banque Federative du Credit Mutuel                         | Banque Federative du Credit Mutuel                         | CUSIP: BT4287806<br>LEI: VBHFXSYT7OG62HNT8T76 | Long             | DBT              | CORP              | FR        |    300000 | PA      | $314547.64    | 0.11%             | 2032-01-19      | Fixed         | 1.12%                 | No            |                  2 | On Loan: No      |
| Abertis France                                             | Abertis France                                             | CUSIP: BT4316647<br>LEI: 9695004S3RCE0Q5V8G28 | Long             | DBT              | CORP              | FR        |    200000 | PA      | $219810.32    | 0.08%             | 2031-01-18      | Fixed         | 1.48%                 | No            |                  2 | On Loan: No      |
| Motability Operations Group PLC                            | Motability Operations Group PLC                            | CUSIP: BT3973331<br>LEI: AZ3NL8JCZDCNUXFWI720 | Long             | DBT              | CORP              | GB        |    500000 | PA      | $418373.17    | 0.15%             | 2042-01-18      | Fixed         | 2.12%                 | No            |                  2 | On Loan: No      |
| ABN AMRO Bank N.V.                                         | ABN AMRO Bank N.V.                                         | CUSIP: BT5119214<br>LEI: BFXS5XCH7N0Y05NIXW11 | Long             | DBT              | CORP              | NL        |    300000 | PA      | $302278.91    | 0.10%             | 2034-01-20      | Fixed         | 1.25%                 | No            |                  2 | On Loan: No      |
| Orsted A/S                                                 | Orsted A/S                                                 | CUSIP: N/A<br>LEI: W9NG6WMZIYEU8VEDOG48       | Long             | DBT              | CORP              | DK        |    388000 | PA      | $504602.13    | 0.18%             | 2040-04-09      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Volkswagen Financial Services AG                           | Volkswagen Financial Services AG                           | CUSIP: BT7178911<br>LEI: 529900SSGT49ZZSWYE62 | Long             | DBT              | CORP              | DE        |    230000 | PA      | $264398.28    | 0.09%             | 2028-01-31      | Fixed         | 0.88%                 | No            |                  2 | On Loan: No      |
| Norway Government Bond                                     | Norway Government Bond, Series 484                         | CUSIP: BU3225572<br>LEI: 549300L0BT3FJTN9MX24 | Long             | DBT              | NUSS              | NO        |   3642000 | PA      | $339739.71    | 0.12%             | 2032-05-18      | Fixed         | 2.12%                 | No            |                  2 | On Loan: No      |
| National Australia Bank Ltd.                               | National Australia Bank Ltd.                               | CUSIP: BU5978897<br>LEI: F8SB4JFBSYQFRQEH3Z21 | Long             | DBT              | CORP              | AU        |   1000000 | PA      | $688907.03    | 0.24%             | 2027-02-25      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| Svenska Handelsbanken AB                                   | Svenska Handelsbanken AB                                   | CUSIP: BU6022141<br>LEI: NHBDILHZTYCNBV5UYZ31 | Long             | DBT              | CORP              | SE        |    230000 | PA      | $263194.39    | 0.09%             | 2029-02-23      | Fixed         | 1.38%                 | No            |                  2 | On Loan: No      |
| Credit Agricole S.A.                                       | Credit Agricole S.A.                                       | CUSIP: BU6272118<br>LEI: 969500TJ5KRTCJQWXH05 | Long             | DBT              | CORP              | FR        |    300000 | PA      | $342432.72    | 0.12%             | 2029-02-24      | Fixed         | 1.12%                 | No            |                  2 | On Loan: No      |
| Rogers Communications Inc.                                 | Rogers Communications Inc.                                 | CUSIP: 775109BV2<br>LEI: 5493000M6Z4XFIP6PF03 | Long             | DBT              | CORP              | CA        |    850000 | PA      | $639356.42    | 0.22%             | 2032-04-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Iberdrola Finanzas, S.A.U.                                 | Iberdrola Finanzas, S.A.U.                                 | CUSIP: BV0733972<br>LEI: 5493004PZNZWWBOUV388 | Long             | DBT              | CORP              | ES        |    200000 | PA      | $216348.19    | 0.08%             | 2032-03-11      | Fixed         | 1.38%                 | No            |                  2 | On Loan: No      |
| BASF SE                                                    | BASF SE                                                    | CUSIP: BV0727362<br>LEI: 529900PM64WH8AF1E917 | Long             | DBT              | CORP              | DE        |    300000 | PA      | $333868.59    | 0.12%             | 2031-03-17      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| EDP Finance B.V.                                           | EDP Finance B.V.                                           | CUSIP: BV2249175<br>LEI: 5299007L43AQDFOW5739 | Long             | DBT              | CORP              | NL        |    300000 | PA      | $345737.89    | 0.12%             | 2029-09-21      | Fixed         | 1.88%                 | No            |                  2 | On Loan: No      |
| Stellantis N.V.                                            | Stellantis N.V.                                            | CUSIP: BV5714795<br>LEI: 549300LKT9PW7ZIBDF31 | Long             | DBT              | CORP              | NL        |    300000 | PA      | $336780.34    | 0.12%             | 2032-04-01      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| Nestle Holdings, Inc.                                      | Nestle Holdings, Inc.                                      | CUSIP: BV5718622<br>LEI: 549300EAEU8YV8MQXP30 | Long             | DBT              | CORP              | US        |    500000 | PA      | $617387.11    | 0.21%             | 2032-04-04      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Bank of Montreal                                           | Bank of Montreal                                           | CUSIP: 06368DW26<br>LEI: NQQ6HPCNCCU6TUTQYE16 | Long             | DBT              | CORP              | CA        |   1720000 | PA      | $1281867.74   | 0.44%             | 2027-04-01      | Fixed         | 3.65%                 | No            |                  2 | On Loan: No      |
| BNP Paribas                                                | BNP Paribas                                                | CUSIP: BV6624860<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | DBT              | CORP              | FR        |    300000 | PA      | $331628.29    | 0.12%             | 2032-04-07      | Fixed         | 2.10%                 | No            |                  2 | On Loan: No      |
| Toronto-Dominion Bank (The)                                | Toronto-Dominion Bank (The)                                | CUSIP: BV6622823<br>LEI: PT3QB789TSUIDF371261 | Long             | DBT              | CORP              | CA        |    373000 | PA      | $425881.64    | 0.15%             | 2030-04-08      | Fixed         | 1.95%                 | No            |                  2 | On Loan: No      |
| Action Logement Services                                   | Action Logement Services                                   | CUSIP: BU7519475<br>LEI: 969500O2QYH3YW92C551 | Long             | DBT              | NUSS              | FR        |    500000 | PA      | $536878.55    | 0.19%             | 2032-04-13      | Fixed         | 1.38%                 | No            |                  2 | On Loan: No      |
| Diageo Finance PLC                                         | Diageo Finance PLC                                         | CUSIP: BV7390149<br>LEI: BPF79TJMIH3DK8XCKI50 | Long             | DBT              | CORP              | GB        |    500000 | PA      | $522866.43    | 0.18%             | 2038-06-08      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| Royal Bank of Canada                                       | Royal Bank of Canada                                       | CUSIP: BV9821174<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | DBT              | CORP              | CA        |    300000 | PA      | $350567.44    | 0.12%             | 2029-04-26      | Fixed         | 2.12%                 | No            |                  2 | On Loan: No      |
| Banque Federative du Credit Mutuel                         | Banque Federative du Credit Mutuel                         | CUSIP: BW1385853<br>LEI: VBHFXSYT7OG62HNT8T76 | Long             | DBT              | CORP              | FR        |    300000 | PA      | $352670.13    | 0.12%             | 2029-11-06      | Fixed         | 2.62%                 | No            |                  2 | On Loan: No      |
| Ontario Teachers' Finance Trust                            | Ontario Teachers' Finance Trust                            | CUSIP: BW1147535<br>LEI: 635400ZZE5J8OXXBBY26 | Long             | DBT              | NUSS              | CA        |    300000 | PA      | $334782.03    | 0.12%             | 2032-05-03      | Fixed         | 1.85%                 | No            |                  2 | On Loan: No      |
| Suez S.A.                                                  | Suez S.A.                                                  | CUSIP: BW4875900<br>LEI: 5493007LKZ37MXEN5D79 | Long             | DBT              | CORP              | FR        |    200000 | PA      | $223522.91    | 0.08%             | 2034-05-24      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| Nordea Bank Abp                                            | Nordea Bank Abp                                            | CUSIP: BW6044935<br>LEI: 529900ODI3047E2LIV03 | Long             | DBT              | CORP              | FI        |    200000 | PA      | $237049.70    | 0.08%             | 2029-05-23      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Bouygues                                                   | Bouygues                                                   | CUSIP: BW6395659<br>LEI: 969500MOCLNQFNZN0D63 | Long             | DBT              | CORP              | FR        |    200000 | PA      | $235214.64    | 0.08%             | 2029-06-29      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| Bouygues                                                   | Bouygues                                                   | CUSIP: BW6395667<br>LEI: 969500MOCLNQFNZN0D63 | Long             | DBT              | CORP              | FR        |    300000 | PA      | $342274.16    | 0.12%             | 2037-06-30      | Fixed         | 3.25%                 | No            |                  2 | On Loan: —       |
| RWE AG                                                     | RWE AG                                                     | CUSIP: BW6393068<br>LEI: 529900GB7KCA94ACC940 | Long             | DBT              | CORP              | DE        |    275000 | PA      | $325713.48    | 0.11%             | 2030-05-24      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| National Australia Bank Ltd.                               | National Australia Bank Ltd.                               | CUSIP: BW6396087<br>LEI: F8SB4JFBSYQFRQEH3Z21 | Long             | DBT              | CORP              | AU        |    300000 | PA      | $353917.52    | 0.12%             | 2028-05-24      | Fixed         | 2.12%                 | No            |                  2 | On Loan: No      |
| Federation des caisses Desjardins du Quebec                | Federation des caisses Desjardins du Quebec                | CUSIP: 31430WPB4<br>LEI: 549300B2Q47IR0CR5B54 | Long             | DBT              | CORP              | CA        |    800000 | PA      | $602633.39    | 0.21%             | 2027-05-19      | Fixed         | 4.41%                 | No            |                  2 | On Loan: No      |
| Telefonica Emisiones, S.A.                                 | Telefonica Emisiones, S.A.                                 | CUSIP: BW6673253<br>LEI: 549300Y5MFC4SW5Z3K71 | Long             | DBT              | CORP              | ES        |    300000 | PA      | $348975.76    | 0.12%             | 2031-05-25      | Fixed         | 2.59%                 | No            |                  2 | On Loan: No      |
| Societe Generale                                           | Societe Generale                                           | CUSIP: BW7606088<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | DBT              | CORP              | FR        |    300000 | PA      | $358014.06    | 0.12%             | 2029-05-30      | Fixed         | 2.62%                 | No            |                  2 | On Loan: No      |
| Toronto-Dominion Bank (The)                                | Toronto-Dominion Bank (The)                                | CUSIP: 89117F7G8<br>LEI: PT3QB789TSUIDF371261 | Long             | DBT              | CORP              | CA        |   2400000 | PA      | $1804497.29   | 0.63%             | 2027-06-01      | Fixed         | 4.21%                 | No            |                  2 | On Loan: No      |
| Bank of Montreal                                           | Bank of Montreal                                           | CUSIP: 06368D3U6<br>LEI: NQQ6HPCNCCU6TUTQYE16 | Long             | DBT              | CORP              | CA        |   2150000 | PA      | $1616893.99   | 0.56%             | 2027-06-01      | Fixed         | 4.31%                 | No            |                  2 | On Loan: No      |
| Temasek Financial (I) Ltd.                                 | Temasek Financial (I) Ltd.                                 | CUSIP: N/A<br>LEI: 549300XMGMDF3VRJMF12       | Long             | DBT              | CORP              | SG        |    400000 | PA      | $548057.79    | 0.19%             | 2040-07-26      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Canadian Imperial Bank of Commerce                         | Canadian Imperial Bank of Commerce                         | CUSIP: 13607HV66<br>LEI: 2IGI19DL77OX0HC3ZE78 | Long             | DBT              | CORP              | CA        |   1850000 | PA      | $1403713.03   | 0.49%             | 2027-06-29      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| Royal Bank of Canada                                       | Royal Bank of Canada                                       | CUSIP: 780086VK7<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | DBT              | CORP              | CA        |   1700000 | PA      | $1288065.58   | 0.45%             | 2027-07-26      | Fixed         | 4.61%                 | No            |                  2 | On Loan: No      |
| Toronto-Dominion Bank (The)                                | Toronto-Dominion Bank (The)                                | CUSIP: BY0601827<br>LEI: PT3QB789TSUIDF371261 | Long             | DBT              | CORP              | CA        |    400000 | PA      | $470334.83    | 0.16%             | 2032-08-03      | Fixed         | 3.13%                 | No            |                  2 | On Loan: No      |
| Credit Agricole S.A.                                       | Credit Agricole S.A.                                       | CUSIP: BY5264928<br>LEI: 969500TJ5KRTCJQWXH05 | Long             | DBT              | CORP              | FR        |    500000 | PA      | $591810.59    | 0.21%             | 2029-08-29      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| BNP Paribas                                                | BNP Paribas                                                | CUSIP: BY6594786<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | DBT              | CORP              | FR        |    400000 | PA      | $488132.91    | 0.17%             | 2029-09-01      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| Siemens Financieringsmaatschappij N.V.                     | Siemens Financieringsmaatschappij N.V.                     | CUSIP: BY7413671<br>LEI: TAFO772JB70PDRN5VS48 | Long             | DBT              | CORP              | NL        |    300000 | PA      | $354251.81    | 0.12%             | 2033-09-08      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Lloyds Bank PLC                                            | Lloyds Bank PLC                                            | CUSIP: N/A<br>LEI: H7FNTJ4851HG0EXQ1Z70       | Long             | DBT              | CORP              | GB        |    710000 | PA      | $1066127.54   | 0.37%             | 2040-09-17      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| CaixaBank, S.A.                                            | CaixaBank, S.A.                                            | CUSIP: BY7751344<br>LEI: 7CUNS533WID6K7DGFI87 | Long             | DBT              | CORP              | ES        |    300000 | PA      | $369303.82    | 0.13%             | 2029-09-07      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Enel Finance International N.V.                            | Enel Finance International N.V.                            | CUSIP: BY8968863<br>LEI: 0YQH6LCEF474UTUV4B96 | Long             | DBT              | CORP              | NL        |    300000 | PA      | $369114.84    | 0.13%             | 2029-03-09      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| TELUS Corp.                                                | TELUS Corp.                                                | CUSIP: 87971MBX0<br>LEI: 894500WE70KKZRQMBU11 | Long             | DBT              | CORP              | CA        |   1000000 | PA      | $791470.66    | 0.27%             | 2032-11-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Orsted A/S                                                 | Orsted A/S                                                 | CUSIP: BY8969713<br>LEI: W9NG6WMZIYEU8VEDOG48 | Long             | DBT              | CORP              | DK        |    500000 | PA      | $611975.06    | 0.21%             | 2042-09-13      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Amprion GmbH                                               | Amprion GmbH                                               | CUSIP: BY9995865<br>LEI: 529900ZIV0ETYHYZM863 | Long             | DBT              | CORP              | DE        |    300000 | PA      | $369928.49    | 0.13%             | 2032-09-22      | Fixed         | 3.97%                 | No            |                  2 | On Loan: No      |
| Medtronic Global Holdings S.C.A.                           | Medtronic Global Holdings S.C.A.                           | CUSIP: BZ0463613<br>LEI: 549300JXMTTP8GKYIX14 | Long             | DBT              | CORP              | LU        |    200000 | PA      | $238358.03    | 0.08%             | 2034-10-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| Medtronic Global Holdings S.C.A.                           | Medtronic Global Holdings S.C.A.                           | CUSIP: BZ0463597<br>LEI: 549300JXMTTP8GKYIX14 | Long             | DBT              | CORP              | LU        |    300000 | PA      | $361500.61    | 0.13%             | 2028-10-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Medtronic Global Holdings S.C.A.                           | Medtronic Global Holdings S.C.A.                           | CUSIP: 58507LAZ2<br>LEI: 549300JXMTTP8GKYIX14 | Long             | DBT              | CORP              | LU        |    200000 | PA      | $239872.67    | 0.08%             | 2031-10-15      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| Engie                                                      | Engie                                                      | CUSIP: N/A<br>LEI: LAXUQCHT4FH58LRZDY46       | Long             | DBT              | CORP              | FR        |    900000 | PA      | $1027422.77   | 0.36%             | 2060-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Canadian Imperial Bank of Commerce                         | Canadian Imperial Bank of Commerce                         | CUSIP: 13607H5C2<br>LEI: 2IGI19DL77OX0HC3ZE78 | Long             | DBT              | CORP              | CA        |   1500000 | PA      | $1144791.94   | 0.40%             | 2027-10-07      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| Banco Bilbao Vizcaya Argentaria S.A.                       | Banco Bilbao Vizcaya Argentaria S.A.                       | CUSIP: BZ5374294<br>LEI: K8MS7FD7N5Z2WQ51AZ71 | Long             | DBT              | CORP              | ES        |    300000 | PA      | $378570.78    | 0.13%             | 2029-10-14      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Orange                                                     | Orange                                                     | CUSIP: N/A<br>LEI: 969500MCOONR8990S771       | Long             | DBT              | CORP              | FR        |    500000 | PA      | $626359.70    | 0.22%             | 2050-11-22      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Toronto-Dominion Bank (The)                                | Toronto-Dominion Bank (The)                                | CUSIP: 89117F7H6<br>LEI: PT3QB789TSUIDF371261 | Long             | DBT              | CORP              | CA        |   1650000 | PA      | $1268738.69   | 0.44%             | 2027-10-21      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Tennet Holding B.V.                                        | Tennet Holding B.V.                                        | CUSIP: BZ8418882<br>LEI: 724500N24X9VLIRO3K10 | Long             | DBT              | CORP              | NL        |    300000 | PA      | $386054.19    | 0.13%             | 2034-10-28      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Bouygues                                                   | Bouygues                                                   | CUSIP: BZ9175283<br>LEI: 969500MOCLNQFNZN0D63 | Long             | DBT              | CORP              | FR        |    200000 | PA      | $265059.27    | 0.09%             | 2042-06-30      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Bouygues                                                   | Bouygues                                                   | CUSIP: BZ9175267<br>LEI: 969500MOCLNQFNZN0D63 | Long             | DBT              | CORP              | FR        |    300000 | PA      | $384789.10    | 0.13%             | 2032-06-07      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Bell Canada                                                | Bell Canada                                                | CUSIP: 07813ZCK8<br>LEI: 5493000G3EFX9S7TDE29 | Long             | DBT              | CORP              | CA        |   1050000 | PA      | $857306.80    | 0.30%             | 2032-11-10      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| Societe Generale                                           | Societe Generale                                           | CUSIP: ZN2757153<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | DBT              | CORP              | FR        |    300000 | PA      | $381036.34    | 0.13%             | 2032-11-16      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| ABN AMRO Bank N.V.                                         | ABN AMRO Bank N.V.                                         | CUSIP: ZN3731462<br>LEI: BFXS5XCH7N0Y05NIXW11 | Long             | DBT              | CORP              | NL        |    300000 | PA      | $374456.97    | 0.13%             | 2030-02-21      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| ABN AMRO Bank N.V.                                         | ABN AMRO Bank N.V.                                         | CUSIP: ZN3731470<br>LEI: BFXS5XCH7N0Y05NIXW11 | Long             | DBT              | CORP              | NL        |    300000 | PA      | $382718.68    | 0.13%             | 2034-11-21      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| BPCE S.A.                                                  | BPCE S.A.                                                  | CUSIP: ZN4986750<br>LEI: 9695005MSX1OYEMGDF46 | Long             | DBT              | CORP              | FR        |    400000 | PA      | $495977.01    | 0.17%             | 2032-11-29      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Credit Agricole S.A.                                       | Credit Agricole S.A.                                       | CUSIP: ZN5376936<br>LEI: 969500TJ5KRTCJQWXH05 | Long             | DBT              | CORP              | FR        |    400000 | PA      | $489903.02    | 0.17%             | 2034-11-28      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Banque Federative du Credit Mutuel                         | Banque Federative du Credit Mutuel                         | CUSIP: ZN5942406<br>LEI: VBHFXSYT7OG62HNT8T76 | Long             | DBT              | CORP              | FR        |    400000 | PA      | $486020.67    | 0.17%             | 2033-02-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Vodafone Group PLC                                         | Vodafone Group PLC                                         | CUSIP: ZN6801791<br>LEI: 213800TB53ELEUKM7Q61 | Long             | DBT              | CORP              | GB        |    500000 | PA      | $584058.16    | 0.20%             | 2052-12-02      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Toronto-Dominion Bank (The)                                | Toronto-Dominion Bank (The)                                | CUSIP: 89117GRJ8<br>LEI: PT3QB789TSUIDF371261 | Long             | DBT              | CORP              | CA        |   2150000 | PA      | $1653141.45   | 0.57%             | 2029-01-08      | Fixed         | 4.68%                 | No            |                  2 | On Loan: No      |
| Bank of Montreal                                           | Bank of Montreal                                           | CUSIP: 06368LEY8<br>LEI: NQQ6HPCNCCU6TUTQYE16 | Long             | DBT              | CORP              | CA        |   2150000 | PA      | $1635994.17   | 0.57%             | 2027-12-07      | Fixed         | 4.71%                 | No            |                  2 | On Loan: No      |
| Toronto-Dominion Bank (The)                                | Toronto-Dominion Bank (The)                                | CUSIP: ZN7972328<br>LEI: PT3QB789TSUIDF371261 | Long             | DBT              | CORP              | CA        |    350000 | PA      | $427312.22    | 0.15%             | 2029-12-13      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| Brookfield Finance II Inc.                                 | Brookfield Finance II Inc.                                 | CUSIP: 11271ZAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |    850000 | PA      | $677118.86    | 0.23%             | 2032-12-14      | Fixed         | 5.43%                 | No            |                  2 | On Loan: No      |
| Cooperatieve Rabobank U.A.                                 | Cooperatieve Rabobank U.A.                                 | CUSIP: ZM1980634<br>LEI: DG3RU1DBUFHT4ZF9WN62 | Long             | DBT              | CORP              | NL        |    400000 | PA      | $495518.06    | 0.17%             | 2030-01-10      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BPCE S.A.                                                  | BPCE S.A.                                                  | CUSIP: ZM1819626<br>LEI: 9695005MSX1OYEMGDF46 | Long             | DBT              | CORP              | FR        |    300000 | PA      | $377469.92    | 0.13%             | 2033-01-13      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Engie                                                      | Engie                                                      | CUSIP: ZM2319790<br>LEI: LAXUQCHT4FH58LRZDY46 | Long             | DBT              | CORP              | FR        |    300000 | PA      | $368449.99    | 0.13%             | 2035-01-11      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BPCE S.A.                                                  | BPCE S.A.                                                  | CUSIP: ZM1819618<br>LEI: 9695005MSX1OYEMGDF46 | Long             | DBT              | CORP              | FR        |    300000 | PA      | $371092.69    | 0.13%             | 2028-07-13      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| E.ON SE                                                    | E.ON SE                                                    | CUSIP: ZM2633257<br>LEI: Q9MAIUP40P25UFBFG033 | Long             | DBT              | CORP              | DE        |    266000 | PA      | $326453.47    | 0.11%             | 2035-01-12      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Engie                                                      | Engie                                                      | CUSIP: ZM2319782<br>LEI: LAXUQCHT4FH58LRZDY46 | Long             | DBT              | CORP              | FR        |    300000 | PA      | $366905.65    | 0.13%             | 2030-01-11      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| BNP Paribas                                                | BNP Paribas                                                | CUSIP: ZM3222670<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | DBT              | CORP              | FR        |    800000 | PA      | $1136182.73   | 0.39%             | 2032-06-13      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| National Grid PLC                                          | National Grid PLC                                          | CUSIP: ZM3219155<br>LEI: 8R95QZMKZLJX5Q2XR704 | Long             | DBT              | CORP              | GB        |    200000 | PA      | $248245.50    | 0.09%             | 2035-01-16      | Fixed         | 4.28%                 | No            |                  2 | On Loan: No      |
| Royal Bank of Canada                                       | Royal Bank of Canada                                       | CUSIP: 780086WG5<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | DBT              | CORP              | CA        |   1700000 | PA      | $1295849.06   | 0.45%             | 2028-01-17      | Fixed         | 4.64%                 | No            |                  2 | On Loan: No      |
| Banque Federative du Credit Mutuel                         | Banque Federative du Credit Mutuel                         | CUSIP: ZM2632598<br>LEI: VBHFXSYT7OG62HNT8T76 | Long             | DBT              | CORP              | FR        |    300000 | PA      | $385188.45    | 0.13%             | 2033-01-13      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Credit Agricole S.A.                                       | Credit Agricole S.A.                                       | CUSIP: ZM3823394<br>LEI: 969500TJ5KRTCJQWXH05 | Long             | DBT              | CORP              | FR        |    200000 | PA      | $248418.82    | 0.09%             | 2033-01-18      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Credit Agricole S.A.                                       | Credit Agricole S.A.                                       | CUSIP: ZM4792853<br>LEI: 969500TJ5KRTCJQWXH05 | Long             | DBT              | CORP              | FR        |    700000 | PA      | $971889.02    | 0.34%             | 2029-10-23      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Toronto-Dominion Bank (The)                                | Toronto-Dominion Bank (The)                                | CUSIP: 89117GTQ0<br>LEI: PT3QB789TSUIDF371261 | Long             | DBT              | CORP              | CA        |   1700000 | PA      | $1291367.28   | 0.45%             | 2028-01-18      | Fixed         | 4.48%                 | No            |                  2 | On Loan: No      |
| Banco Santander S.A.                                       | Banco Santander S.A.                                       | CUSIP: ZM5206853<br>LEI: 5493006QMFDDMYWIAM13 | Long             | DBT              | CORP              | ES        |    400000 | PA      | $561409.22    | 0.19%             | 2030-01-25      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Banque Federative du Credit Mutuel                         | Banque Federative du Credit Mutuel                         | CUSIP: ZM4992768<br>LEI: VBHFXSYT7OG62HNT8T76 | Long             | DBT              | CORP              | FR        |    300000 | PA      | $366080.80    | 0.13%             | 2028-01-26      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Bell Canada                                                | Bell Canada                                                | CUSIP: 07813ZCL6<br>LEI: 5493000G3EFX9S7TDE29 | Long             | DBT              | CORP              | CA        |    900000 | PA      | $690244.80    | 0.24%             | 2030-02-09      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| Norway Government Bond                                     | Norway Government Bond, Series 486                         | CUSIP: ZM8878765<br>LEI: 549300L0BT3FJTN9MX24 | Long             | DBT              | NUSS              | NO        |   4500000 | PA      | $436376.19    | 0.15%             | 2033-08-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Imperial Brands Finance Netherlands B.V.                   | Imperial Brands Finance Netherlands B.V.                   | CUSIP: ZM9204557<br>LEI: 724500GIEFJOBWGD0272 | Long             | DBT              | CORP              | NL        |    300000 | PA      | $386606.94    | 0.13%             | 2031-02-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Action Logement Services                                   | Action Logement Services                                   | CUSIP: ZM9290457<br>LEI: 969500O2QYH3YW92C551 | Long             | DBT              | NUSS              | FR        |    300000 | PA      | $329636.48    | 0.11%             | 2043-05-25      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| Siemens Financieringsmaatschappij N.V.                     | Siemens Financieringsmaatschappij N.V.                     | CUSIP: ZL0942553<br>LEI: TAFO772JB70PDRN5VS48 | Long             | DBT              | CORP              | NL        |    400000 | PA      | $487682.22    | 0.17%             | 2031-08-24      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| Credit Agricole S.A.                                       | Credit Agricole S.A.                                       | CUSIP: ZL3431984<br>LEI: 969500TJ5KRTCJQWXH05 | Long             | DBT              | CORP              | FR        |    700000 | PA      | $875231.68    | 0.30%             | 2030-03-07      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Banque Federative du Credit Mutuel                         | Banque Federative du Credit Mutuel                         | CUSIP: ZL4171530<br>LEI: VBHFXSYT7OG62HNT8T76 | Long             | DBT              | CORP              | FR        |    400000 | PA      | $495089.32    | 0.17%             | 2029-03-13      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Stellantis N.V.                                            | Stellantis N.V.                                            | CUSIP: ZL4426397<br>LEI: 549300LKT9PW7ZIBDF31 | Long             | DBT              | CORP              | NL        |    300000 | PA      | $372150.60    | 0.13%             | 2030-03-14      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| TransCanada Pipelines Ltd.                                 | TransCanada Pipelines Ltd.                                 | CUSIP: 89353ZCN6<br>LEI: 5BV01I6231JPDAPMGH09 | Long             | DBT              | CORP              | CA        |   1050000 | PA      | $828516.41    | 0.29%             | 2030-07-15      | Fixed         | 5.28%                 | No            |                  2 | On Loan: No      |
| Engie                                                      | Engie                                                      | CUSIP: ZL8690907<br>LEI: LAXUQCHT4FH58LRZDY46 | Long             | DBT              | CORP              | FR        |    600000 | PA      | $752705.47    | 0.26%             | 2053-04-03      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Rogers Communications Inc.                                 | Rogers Communications Inc.                                 | CUSIP: 775109CT6<br>LEI: 5493000M6Z4XFIP6PF03 | Long             | DBT              | CORP              | CA        |   1220000 | PA      | $1060534.65   | 0.37%             | 2039-11-09      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Credit Agricole S.A.                                       | Credit Agricole S.A.                                       | CUSIP: ZK1827227<br>LEI: 969500TJ5KRTCJQWXH05 | Long             | DBT              | CORP              | FR        |    900000 | PA      | $1113029.33   | 0.39%             | 2031-04-20      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| ABN AMRO Bank N.V.                                         | ABN AMRO Bank N.V.                                         | CUSIP: ZK1826526<br>LEI: BFXS5XCH7N0Y05NIXW11 | Long             | DBT              | CORP              | NL        |    300000 | PA      | $372889.10    | 0.13%             | 2028-10-20      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Royal Bank of Canada                                       | Royal Bank of Canada                                       | CUSIP: 780086XL3<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | DBT              | CORP              | CA        |   2150000 | PA      | $1643472.29   | 0.57%             | 2028-05-01      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| Sydney Airport Finance Co. Pty Ltd.                        | Sydney Airport Finance Co. Pty Ltd.                        | CUSIP: ZK1417490<br>LEI: 549300MJAANHLHOVTO40 | Long             | DBT              | CORP              | AU        |    200000 | PA      | $251046.19    | 0.09%             | 2033-05-03      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Banque Federative du Credit Mutuel                         | Banque Federative du Credit Mutuel                         | CUSIP: ZK3067814<br>LEI: VBHFXSYT7OG62HNT8T76 | Long             | DBT              | CORP              | FR        |    300000 | PA      | $374611.85    | 0.13%             | 2030-05-02      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| La Banque Postale                                          | La Banque Postale                                          | CUSIP: ZK3694633<br>LEI: 96950066U5XAAIRCPA78 | Long             | DBT              | CORP              | FR        |    200000 | PA      | $245184.76    | 0.09%             | 2028-05-03      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Rothesay Life PLC                                          | Rothesay Life PLC                                          | CUSIP: ZK5588411<br>LEI: MFQO711J5UPYBWXSPG12 | Long             | DBT              | CORP              | GB        |    400000 | PA      | $611299.14    | 0.21%             | 2033-05-16      | Fixed         | 7.73%                 | No            |                  2 | On Loan: No      |
| Banque Federative du Credit Mutuel                         | Banque Federative du Credit Mutuel                         | CUSIP: ZK6226185<br>LEI: VBHFXSYT7OG62HNT8T76 | Long             | DBT              | CORP              | FR        |    500000 | PA      | $701762.38    | 0.24%             | 2028-05-25      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Eni S.p.A.                                                 | Eni S.p.A.                                                 | CUSIP: ZK6524399<br>LEI: BUCRF72VH5RBN7X3VL35 | Long             | DBT              | CORP              | IT        |    300000 | PA      | $375762.00    | 0.13%             | 2033-05-19      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Intesa Sanpaolo S.p.A.                                     | Intesa Sanpaolo S.p.A.                                     | CUSIP: ZK6507030<br>LEI: 2W8N8UU78PMDQKZENC08 | Long             | DBT              | CORP              | IT        |    300000 | PA      | $384648.44    | 0.13%             | 2030-05-19      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| BNP Paribas                                                | BNP Paribas                                                | CUSIP: ZK6802860<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | DBT              | CORP              | FR        |    300000 | PA      | $375693.31    | 0.13%             | 2033-05-24      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Mercedes-Benz International Finance B.V.                   | Mercedes-Benz International Finance B.V.                   | CUSIP: ZK7505652<br>LEI: 529900RUGCXMPEENHQ31 | Long             | DBT              | CORP              | NL        |    300000 | PA      | $370604.83    | 0.13%             | 2031-05-30      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| Intesa Sanpaolo S.p.A.                                     | Intesa Sanpaolo S.p.A.                                     | CUSIP: ZK7619123<br>LEI: 2W8N8UU78PMDQKZENC08 | Long             | DBT              | CORP              | IT        |    600000 | PA      | $903878.28    | 0.31%             | 2033-05-31      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| Bayer AG                                                   | Bayer AG                                                   | CUSIP: ZK7501719<br>LEI: 549300J4U55H3WP1XT59 | Long             | DBT              | CORP              | DE        |    400000 | PA      | $511487.69    | 0.18%             | 2033-05-26      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Robert Bosch Gesellschaft mit beschraenkter Haftung        | Robert Bosch Gesellschaft mit beschraenkter Haftung        | CUSIP: ZK7508219<br>LEI: 529900F0LT5OP4SV6122 | Long             | DBT              | CORP              | DE        |    300000 | PA      | $366326.56    | 0.13%             | 2035-06-02      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Robert Bosch Gesellschaft mit beschraenkter Haftung        | Robert Bosch Gesellschaft mit beschraenkter Haftung        | CUSIP: ZK7508235<br>LEI: 529900F0LT5OP4SV6122 | Long             | DBT              | CORP              | DE        |    400000 | PA      | $473880.21    | 0.16%             | 2043-06-02      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Robert Bosch Gesellschaft mit beschraenkter Haftung        | Robert Bosch Gesellschaft mit beschraenkter Haftung        | CUSIP: ZK7508201<br>LEI: 529900F0LT5OP4SV6122 | Long             | DBT              | CORP              | DE        |    200000 | PA      | $244894.59    | 0.08%             | 2030-06-02      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| Bank of Montreal                                           | Bank of Montreal                                           | CUSIP: 06368LNK8<br>LEI: NQQ6HPCNCCU6TUTQYE16 | Long             | DBT              | CORP              | CA        |   1700000 | PA      | $1310273.60   | 0.45%             | 2028-05-29      | Fixed         | 5.04%                 | No            |                  2 | On Loan: No      |
| Bouygues                                                   | Bouygues                                                   | CUSIP: ZK8294645<br>LEI: 969500MOCLNQFNZN0D63 | Long             | DBT              | CORP              | FR        |    300000 | PA      | $371586.35    | 0.13%             | 2031-07-17      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Societe Generale                                           | Societe Generale                                           | CUSIP: ZK8294025<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | DBT              | CORP              | FR        |    200000 | PA      | $264174.83    | 0.09%             | 2033-06-02      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Banque Federative du Credit Mutuel                         | Banque Federative du Credit Mutuel                         | CUSIP: ZK8575902<br>LEI: VBHFXSYT7OG62HNT8T76 | Long             | DBT              | CORP              | FR        |    400000 | PA      | $496725.42    | 0.17%             | 2033-06-14      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Banco Santander S.A.                                       | Banco Santander S.A.                                       | CUSIP: ZK8851469<br>LEI: 5493006QMFDDMYWIAM13 | Long             | DBT              | CORP              | ES        |    200000 | PA      | $250731.19    | 0.09%             | 2030-06-12      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Anglian Water Services Financing PLC                       | Anglian Water Services Financing PLC                       | CUSIP: ZK9552744<br>LEI: 213800DL377MH46PDY63 | Long             | DBT              | CORP              | GB        |    503000 | PA      | $673200.39    | 0.23%             | 2039-06-20      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Stellantis N.V.                                            | Stellantis N.V.                                            | CUSIP: ZK9551555<br>LEI: 549300LKT9PW7ZIBDF31 | Long             | DBT              | CORP              | NL        |    300000 | PA      | $367544.56    | 0.13%             | 2031-06-16      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| National Bank of Canada                                    | National Bank of Canada                                    | CUSIP: 63306AHP4<br>LEI: BSGEFEIOM18Y80CKCV46 | Long             | DBT              | CORP              | CA        |   1500000 | PA      | $1162980.47   | 0.40%             | 2028-06-14      | Fixed         | 5.22%                 | No            |                  2 | On Loan: No      |
| Societe Generale                                           | Societe Generale                                           | CUSIP: ZJ0038456<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | DBT              | CORP              | FR        |    400000 | PA      | $590330.58    | 0.20%             | 2033-06-22      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Royal Bank of Canada                                       | Royal Bank of Canada                                       | CUSIP: 780086ZH0<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | DBT              | CORP              | CA        |   1000000 | PA      | $793937.16    | 0.28%             | 2030-06-24      | Fixed         | 5.23%                 | No            |                  2 | On Loan: No      |
| Canadian Imperial Bank of Commerce                         | Canadian Imperial Bank of Commerce                         | CUSIP: 13607LPY3<br>LEI: 2IGI19DL77OX0HC3ZE78 | Long             | DBT              | CORP              | CA        |   1000000 | PA      | $772056.27    | 0.27%             | 2028-01-14      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Commonwealth Bank of Australia                             | Commonwealth Bank of Australia                             | CUSIP: N/A<br>LEI: MSFSBD3QN1GSN7Q6C537       | Long             | DBT              | CORP              | AU        |    900000 | PA      | $632720.81    | 0.22%             | 2028-08-17      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| Intesa Sanpaolo S.p.A.                                     | Intesa Sanpaolo S.p.A.                                     | CUSIP: N/A<br>LEI: 2W8N8UU78PMDQKZENC08       | Long             | DBT              | CORP              | IT        |    400000 | PA      | $522702.78    | 0.18%             | 2031-08-29      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| CaixaBank, S.A.                                            | CaixaBank, S.A.                                            | CUSIP: N/A<br>LEI: 7CUNS533WID6K7DGFI87       | Long             | DBT              | CORP              | ES        |    300000 | PA      | $377440.73    | 0.13%             | 2030-09-06      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Kering                                                     | Kering                                                     | CUSIP: N/A<br>LEI: 549300VGEJKB7SVUZR78       | Long             | DBT              | CORP              | FR        |    200000 | PA      | $243378.76    | 0.08%             | 2031-09-05      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| Kering                                                     | Kering                                                     | CUSIP: N/A<br>LEI: 549300VGEJKB7SVUZR78       | Long             | DBT              | CORP              | FR        |    300000 | PA      | $360691.37    | 0.13%             | 2035-09-05      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| LVMH Moet Hennessy Louis Vuitton                           | LVMH Moet Hennessy Louis Vuitton                           | CUSIP: N/A<br>LEI: IOG4E947OATN0KJYSD45       | Long             | DBT              | CORP              | FR        |    300000 | PA      | $365067.66    | 0.13%             | 2029-09-07      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| LVMH Moet Hennessy Louis Vuitton                           | LVMH Moet Hennessy Louis Vuitton                           | CUSIP: N/A<br>LEI: IOG4E947OATN0KJYSD45       | Long             | DBT              | CORP              | FR        |    400000 | PA      | $486029.86    | 0.17%             | 2033-09-07      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Toronto-Dominion Bank (The)                                | Toronto-Dominion Bank (The)                                | CUSIP: 89117GX51<br>LEI: PT3QB789TSUIDF371261 | Long             | DBT              | CORP              | CA        |   1300000 | PA      | $1016460.51   | 0.35%             | 2028-09-08      | Fixed         | 5.49%                 | No            |                  2 | On Loan: No      |
| Belfius Bank S.A.                                          | Belfius Bank S.A.                                          | CUSIP: N/A<br>LEI: A5GWLFH3KM7YV2SFQL84       | Long             | DBT              | CORP              | BE        |    300000 | PA      | $373142.64    | 0.13%             | 2029-09-12      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Deutsche Boerse AG                                         | Deutsche Boerse AG                                         | CUSIP: ZH0443791<br>LEI: 529900G3SW56SHYNPR95 | Long             | DBT              | CORP              | DE        |    300000 | PA      | $370883.10    | 0.13%             | 2033-09-28      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Bank of New Zealand                                        | Bank of New Zealand                                        | CUSIP: N/A<br>LEI: N7LGVZM7X4UQ66T7LT74       | Long             | DBT              | CORP              | NZ        |    850000 | PA      | $539714.87    | 0.19%             | 2028-09-01      | Fixed         | 5.87%                 | No            |                  2 | On Loan: No      |
| Ayvens                                                     | Ayvens                                                     | CUSIP: ZH1289110<br>LEI: 969500E7V019H9NP7427 | Long             | DBT              | CORP              | FR        |    200000 | PA      | $251672.04    | 0.09%             | 2028-10-06      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Original Wempi Inc.                                        | Original Wempi Inc.                                        | CUSIP: 952637AE6<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |    500000 | PA      | $392264.52    | 0.14%             | 2027-10-04      | Fixed         | 7.79%                 | No            |                  2 | On Loan: No      |
| Action Logement Services                                   | Action Logement Services                                   | CUSIP: ZH1071286<br>LEI: 969500O2QYH3YW92C551 | Long             | DBT              | NUSS              | FR        |    300000 | PA      | $363489.76    | 0.13%             | 2038-10-03      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Suez S.A.                                                  | Suez S.A.                                                  | CUSIP: ZH1843361<br>LEI: 5493007LKZ37MXEN5D79 | Long             | DBT              | CORP              | FR        |    500000 | PA      | $716025.04    | 0.25%             | 2043-10-05      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| Banco Santander S.A.                                       | Banco Santander S.A.                                       | CUSIP: ZH4396912<br>LEI: 5493006QMFDDMYWIAM13 | Long             | DBT              | CORP              | ES        |    600000 | PA      | $774996.91    | 0.27%             | 2031-10-18      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Banque Federative du Credit Mutuel                         | Banque Federative du Credit Mutuel                         | CUSIP: ZH8427671<br>LEI: VBHFXSYT7OG62HNT8T76 | Long             | DBT              | CORP              | FR        |    300000 | PA      | $382975.02    | 0.13%             | 2031-11-10      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Swedbank AB                                                | Swedbank AB                                                | CUSIP: ZH9734935<br>LEI: M312WZV08Y7LYUC71685 | Long             | DBT              | CORP              | SE        |    300000 | PA      | $371982.05    | 0.13%             | 2028-11-13      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Societe Generale                                           | Societe Generale                                           | CUSIP: ZG1630612<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | DBT              | CORP              | FR        |    200000 | PA      | $248366.22    | 0.09%             | 2028-11-21      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Federation des caisses Desjardins du Quebec                | Federation des caisses Desjardins du Quebec                | CUSIP: 31430WF90<br>LEI: 549300B2Q47IR0CR5B54 | Long             | DBT              | CORP              | CA        |   1100000 | PA      | $861154.23    | 0.30%             | 2028-11-17      | Fixed         | 5.47%                 | No            |                  2 | On Loan: No      |
| Cie de Saint-Gobain                                        | Cie de Saint-Gobain                                        | CUSIP: ZG2003140<br>LEI: NFONVGN05Z0FMN5PEC35 | Long             | DBT              | CORP              | FR        |    400000 | PA      | $495510.62    | 0.17%             | 2030-11-29      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Credit Agricole S.A.                                       | Credit Agricole S.A.                                       | CUSIP: ZG2586532<br>LEI: 969500TJ5KRTCJQWXH05 | Long             | DBT              | CORP              | FR        |    300000 | PA      | $377161.02    | 0.13%             | 2033-11-27      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| CaixaBank, S.A.                                            | CaixaBank, S.A.                                            | CUSIP: ZG2884606<br>LEI: 7CUNS533WID6K7DGFI87 | Long             | DBT              | CORP              | ES        |    200000 | PA      | $255820.60    | 0.09%             | 2033-11-29      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| National Grid Electricity Distribution (West Midlands) PLC | National Grid Electricity Distribution (West Midlands) PLC | CUSIP: N/A<br>LEI: 549300L22M2RCLXON143       | Long             | DBT              | CORP              | GB        |    525000 | PA      | $751206.83    | 0.26%             | 2032-04-16      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Places For People Treasury PLC                             | Places For People Treasury PLC                             | CUSIP: ZG3810709<br>LEI: 213800B9U45TFBXW5K67 | Long             | DBT              | CORP              | GB        |    400000 | PA      | $551939.14    | 0.19%             | 2041-12-06      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Heathrow Funding Ltd.                                      | Heathrow Funding Ltd.                                      | CUSIP: N/A<br>LEI: 7TI96JO3DYEIQWZ7Z726       | Long             | DBT              | CORP              | JE        |    600000 | PA      | $813633.29    | 0.28%             | 2041-05-13      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| National Bank of Canada                                    | National Bank of Canada                                    | CUSIP: 63306AHT6<br>LEI: BSGEFEIOM18Y80CKCV46 | Long             | DBT              | CORP              | CA        |   1250000 | PA      | $971098.11    | 0.34%             | 2029-02-01      | Fixed         | 5.02%                 | No            |                  2 | On Loan: No      |
| Bank of Montreal                                           | Bank of Montreal                                           | CUSIP: 06368LB88<br>LEI: NQQ6HPCNCCU6TUTQYE16 | Long             | DBT              | CORP              | CA        |   1700000 | PA      | $1302050.73   | 0.45%             | 2028-12-18      | Fixed         | 4.54%                 | No            |                  2 | On Loan: No      |
| Banque Federative du Credit Mutuel                         | Banque Federative du Credit Mutuel                         | CUSIP: ZF0679877<br>LEI: VBHFXSYT7OG62HNT8T76 | Long             | DBT              | CORP              | FR        |    300000 | PA      | $368045.25    | 0.13%             | 2034-01-11      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Banco Santander S.A.                                       | Banco Santander S.A.                                       | CUSIP: ZF0663319<br>LEI: 5493006QMFDDMYWIAM13 | Long             | DBT              | CORP              | ES        |    400000 | PA      | $488014.20    | 0.17%             | 2034-01-09      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Volkswagen Leasing Gesellschaft mit beschraenkter Haftung  | Volkswagen Leasing Gesellschaft mit beschraenkter Haftung  | CUSIP: ZF1455392<br>LEI: 5299004GLEUX88BSNB74 | Long             | DBT              | CORP              | DE        |    300000 | PA      | $366879.77    | 0.13%             | 2028-10-11      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| BPCE S.A.                                                  | BPCE S.A.                                                  | CUSIP: ZF0828516<br>LEI: 9695005MSX1OYEMGDF46 | Long             | DBT              | CORP              | FR        |    200000 | PA      | $245115.08    | 0.09%             | 2029-01-11      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Banco Bilbao Vizcaya Argentaria S.A.                       | Banco Bilbao Vizcaya Argentaria S.A.                       | CUSIP: ZF2077435<br>LEI: K8MS7FD7N5Z2WQ51AZ71 | Long             | DBT              | CORP              | ES        |    400000 | PA      | $494427.12    | 0.17%             | 2034-01-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: —       |
| Eni S.p.A.                                                 | Eni S.p.A.                                                 | CUSIP: ZF2095510<br>LEI: BUCRF72VH5RBN7X3VL35 | Long             | DBT              | CORP              | IT        |    300000 | PA      | $365824.37    | 0.13%             | 2034-01-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Scottish Hydro Electric Transmission PLC                   | Scottish Hydro Electric Transmission PLC                   | CUSIP: ZF2101300<br>LEI: 549300ECJZDA7203MK64 | Long             | DBT              | CORP              | GB        |    450000 | PA      | $582284.46    | 0.20%             | 2044-01-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| ABN AMRO Bank N.V.                                         | ABN AMRO Bank N.V.                                         | CUSIP: ZF2350188<br>LEI: BFXS5XCH7N0Y05NIXW11 | Long             | DBT              | CORP              | NL        |    200000 | PA      | $246091.28    | 0.09%             | 2032-01-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Santander Consumer Finance, S.A.                           | Santander Consumer Finance, S.A.                           | CUSIP: ZF2346780<br>LEI: 5493000LM0MZ4JPMGM90 | Long             | DBT              | CORP              | ES        |    200000 | PA      | $246030.47    | 0.09%             | 2029-01-17      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Westpac Banking Corp.                                      | Westpac Banking Corp.                                      | CUSIP: ZF1428928<br>LEI: EN5TNI6CI43VEPAMHL14 | Long             | DBT              | CORP              | AU        |    800000 | PA      | $563247.95    | 0.20%             | 2029-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Banque Federative du Credit Mutuel                         | Banque Federative du Credit Mutuel                         | CUSIP: ZF2081882<br>LEI: VBHFXSYT7OG62HNT8T76 | Long             | DBT              | CORP              | FR        |    300000 | PA      | $362751.64    | 0.13%             | 2034-02-03      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Banco Santander S.A.                                       | Banco Santander S.A.                                       | CUSIP: ZF2682507<br>LEI: 5493006QMFDDMYWIAM13 | Long             | DBT              | CORP              | ES        |    500000 | PA      | $709490.44    | 0.25%             | 2031-01-17      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Credit Agricole S.A.                                       | Credit Agricole S.A.                                       | CUSIP: ZF3441911<br>LEI: 969500TJ5KRTCJQWXH05 | Long             | DBT              | CORP              | FR        |    500000 | PA      | $607518.60    | 0.21%             | 2034-01-22      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| BPCE S.A.                                                  | BPCE S.A.                                                  | CUSIP: ZF3622833<br>LEI: 9695005MSX1OYEMGDF46 | Long             | DBT              | CORP              | FR        |    300000 | PA      | $364282.14    | 0.13%             | 2036-01-25      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Enel Finance International N.V.                            | Enel Finance International N.V.                            | CUSIP: ZF3624193<br>LEI: 0YQH6LCEF474UTUV4B96 | Long             | DBT              | CORP              | NL        |    200000 | PA      | $242355.65    | 0.08%             | 2035-01-23      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Ayvens                                                     | Ayvens                                                     | CUSIP: ZF3449146<br>LEI: 969500E7V019H9NP7427 | Long             | DBT              | CORP              | FR        |    300000 | PA      | $366343.00    | 0.13%             | 2028-01-24      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Motability Operations Group PLC                            | Motability Operations Group PLC                            | CUSIP: ZF3240057<br>LEI: AZ3NL8JCZDCNUXFWI720 | Long             | DBT              | CORP              | GB        |    300000 | PA      | $362167.26    | 0.13%             | 2034-01-24      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Motability Operations Group PLC                            | Motability Operations Group PLC                            | CUSIP: ZF3240099<br>LEI: AZ3NL8JCZDCNUXFWI720 | Long             | DBT              | CORP              | GB        |    400000 | PA      | $506451.41    | 0.18%             | 2054-01-24      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Telefonica Emisiones, S.A.                                 | Telefonica Emisiones, S.A.                                 | CUSIP: ZF3953170<br>LEI: 549300Y5MFC4SW5Z3K71 | Long             | DBT              | CORP              | ES        |    200000 | PA      | $242950.98    | 0.08%             | 2032-01-24      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| Community Finance Co. 1 PLC                                | Community Finance Co. 1 PLC                                | CUSIP: N/A<br>LEI: 213800VZPKVQ7LLB8E76       | Long             | DBT              | CORP              | GB        |    500000 | PA      | $688046.04    | 0.24%             | 2034-07-31      | Fixed         | 5.02%                 | No            |                  2 | On Loan: No      |
| Cooperatieve Rabobank U.A.                                 | Cooperatieve Rabobank U.A.                                 | CUSIP: ZF4866447<br>LEI: DG3RU1DBUFHT4ZF9WN62 | Long             | DBT              | CORP              | NL        |    300000 | PA      | $365386.00    | 0.13%             | 2034-07-26      | Fixed         | 3.82%                 | No            |                  2 | On Loan: No      |
| Australia and New Zealand Banking Group Ltd.               | Australia and New Zealand Banking Group Ltd.               | CUSIP: ZF5487425<br>LEI: JHE42UYNWWTJB8YTTU19 | Long             | DBT              | CORP              | AU        |    750000 | PA      | $527230.56    | 0.18%             | 2029-02-05      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| Bank of Nova Scotia (The)                                  | Bank of Nova Scotia (The)                                  | CUSIP: 064164QM1<br>LEI: L3I9ZG2KFGXZ61BMYR72 | Long             | DBT              | CORP              | CA        |   1700000 | PA      | $1309369.72   | 0.45%             | 2029-02-01      | Fixed         | 4.68%                 | No            |                  2 | On Loan: No      |
| BMW US Capital, LLC                                        | BMW US Capital, LLC                                        | CUSIP: ZF6566763<br>LEI: KK5MZM9DIXLXZL9DZL15 | Long             | DBT              | CORP              | US        |    335000 | PA      | $396403.06    | 0.14%             | 2034-02-02      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| Italgas S.p.A.                                             | Italgas S.p.A.                                             | CUSIP: ZF7586778<br>LEI: 815600F25FF44EF1FA76 | Long             | DBT              | CORP              | IT        |    300000 | PA      | $361605.25    | 0.13%             | 2029-02-08      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| Norway Government Bond                                     | Norway Government Bond, Series 487                         | CUSIP: ZF8262429<br>LEI: 549300L0BT3FJTN9MX24 | Long             | DBT              | NUSS              | NO        |   5000000 | PA      | $503299.02    | 0.17%             | 2034-04-13      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| Koninklijke KPN N.V.                                       | Koninklijke KPN N.V.                                       | CUSIP: ZF8930983<br>LEI: 549300YO0JZHAL7FVP81 | Long             | DBT              | CORP              | NL        |    300000 | PA      | $361769.63    | 0.13%             | 2036-02-16      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| BNP Paribas                                                | BNP Paribas                                                | CUSIP: ZF8592726<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | DBT              | CORP              | FR        |    400000 | PA      | $493757.12    | 0.17%             | 2034-02-13      | Fixed         | 4.09%                 | No            |                  2 | On Loan: No      |
| Snam S.p.A.                                                | Snam S.p.A.                                                | CUSIP: ZF9822072<br>LEI: 8156002278562044AF79 | Long             | DBT              | CORP              | IT        |    300000 | PA      | $365371.34    | 0.13%             | 2034-02-19      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Siemens Financieringsmaatschappij N.V.                     | Siemens Financieringsmaatschappij N.V.                     | CUSIP: ZD0684401<br>LEI: TAFO772JB70PDRN5VS48 | Long             | DBT              | CORP              | NL        |    400000 | PA      | $449581.12    | 0.16%             | 2044-02-22      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| Siemens Financieringsmaatschappij N.V.                     | Siemens Financieringsmaatschappij N.V.                     | CUSIP: ZD0684393<br>LEI: TAFO772JB70PDRN5VS48 | Long             | DBT              | CORP              | NL        |    400000 | PA      | $480902.54    | 0.17%             | 2032-05-22      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| Siemens Financieringsmaatschappij N.V.                     | Siemens Financieringsmaatschappij N.V.                     | CUSIP: ZD0684419<br>LEI: TAFO772JB70PDRN5VS48 | Long             | DBT              | CORP              | NL        |    300000 | PA      | $352051.03    | 0.12%             | 2037-02-22      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| Credit Agricole S.A.                                       | Credit Agricole S.A.                                       | CUSIP: ZD1495799<br>LEI: 969500TJ5KRTCJQWXH05 | Long             | DBT              | CORP              | FR        |    600000 | PA      | $735735.85    | 0.26%             | 2036-02-26      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Banque Federative du Credit Mutuel                         | Banque Federative du Credit Mutuel                         | CUSIP: ZD3102005<br>LEI: VBHFXSYT7OG62HNT8T76 | Long             | DBT              | CORP              | FR        |    500000 | PA      | $697269.37    | 0.24%             | 2029-10-22      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UniCredit S.p.A.                                           | UniCredit S.p.A.                                           | CUSIP: ZD3397811<br>LEI: 549300TRUWO2CD2G5692 | Long             | DBT              | CORP              | IT        |    300000 | PA      | $368614.12    | 0.13%             | 2034-03-05      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Anglian Water Services Financing PLC                       | Anglian Water Services Financing PLC                       | CUSIP: ZD3728866<br>LEI: 213800DL377MH46PDY63 | Long             | DBT              | CORP              | GB        |    500000 | PA      | $628010.60    | 0.22%             | 2043-06-07      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Kering                                                     | Kering                                                     | CUSIP: ZD4696963<br>LEI: 549300VGEJKB7SVUZR78 | Long             | DBT              | CORP              | FR        |    300000 | PA      | $357881.41    | 0.12%             | 2032-03-11      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| Nordea Bank Abp                                            | Nordea Bank Abp                                            | CUSIP: ZD6396463<br>LEI: 529900ODI3047E2LIV03 | Long             | DBT              | CORP              | FI        |    300000 | PA      | $362640.52    | 0.13%             | 2034-03-15      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| Banco Bilbao Vizcaya Argentaria S.A.                       | Banco Bilbao Vizcaya Argentaria S.A.                       | CUSIP: ZD7940327<br>LEI: K8MS7FD7N5Z2WQ51AZ71 | Long             | DBT              | CORP              | ES        |    300000 | PA      | $366118.96    | 0.13%             | 2031-03-26      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| E.ON SE                                                    | E.ON SE                                                    | CUSIP: ZD8242038<br>LEI: Q9MAIUP40P25UFBFG033 | Long             | DBT              | CORP              | DE        |    275000 | PA      | $327383.79    | 0.11%             | 2044-03-25      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Deutsche Post AG                                           | Deutsche Post AG                                           | CUSIP: ZD8242855<br>LEI: 8ER8GIG7CSMVD8VUFE78 | Long             | DBT              | CORP              | DE        |    250000 | PA      | $298562.22    | 0.10%             | 2036-03-25      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| National Australia Bank Ltd.                               | National Australia Bank Ltd.                               | CUSIP: ZD7617297<br>LEI: F8SB4JFBSYQFRQEH3Z21 | Long             | DBT              | CORP              | AU        |   1000000 | PA      | $700816.39    | 0.24%             | 2029-03-22      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| Cie de Saint-Gobain                                        | Cie de Saint-Gobain                                        | CUSIP: ZB0357853<br>LEI: NFONVGN05Z0FMN5PEC35 | Long             | DBT              | CORP              | FR        |    300000 | PA      | $360534.59    | 0.13%             | 2034-04-08      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| Cie de Saint-Gobain                                        | Cie de Saint-Gobain                                        | CUSIP: ZB0357887<br>LEI: NFONVGN05Z0FMN5PEC35 | Long             | DBT              | CORP              | FR        |    300000 | PA      | $363142.39    | 0.13%             | 2030-04-08      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| CDP Financial Inc.                                         | CDP Financial Inc.                                         | CUSIP: ZB1807765<br>LEI: 549300OXMGVYFCBFV096 | Long             | DBT              | NUSS              | CA        |    400000 | PA      | $483347.08    | 0.17%             | 2029-04-11      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Toronto-Dominion Bank (The)                                | Toronto-Dominion Bank (The)                                | CUSIP: ZB3115720<br>LEI: PT3QB789TSUIDF371261 | Long             | DBT              | CORP              | CA        |    300000 | PA      | $363462.31    | 0.13%             | 2031-04-16      | Fixed         | 3.56%                 | No            |                  2 | On Loan: No      |
| Bank of Nova Scotia (The)                                  | Bank of Nova Scotia (The)                                  | CUSIP: ZB3434600<br>LEI: L3I9ZG2KFGXZ61BMYR72 | Long             | DBT              | CORP              | CA        |    300000 | PA      | $365938.01    | 0.13%             | 2029-04-17      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Intesa Sanpaolo S.p.A.                                     | Intesa Sanpaolo S.p.A.                                     | CUSIP: ZB3109913<br>LEI: 2W8N8UU78PMDQKZENC08 | Long             | DBT              | CORP              | IT        |    300000 | PA      | $367315.35    | 0.13%             | 2030-10-16      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| Banco Santander S.A.                                       | Banco Santander S.A.                                       | CUSIP: ZB4597280<br>LEI: 5493006QMFDDMYWIAM13 | Long             | DBT              | CORP              | ES        |    300000 | PA      | $368701.83    | 0.13%             | 2029-04-22      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Lonza Finance International N.V.                           | Lonza Finance International N.V.                           | CUSIP: ZB5228372<br>LEI: 549300AS6XQBD4ETT379 | Long             | DBT              | CORP              | BE        |    300000 | PA      | $360183.23    | 0.12%             | 2036-04-24      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| BG Energy Capital PLC                                      | BG Energy Capital PLC                                      | CUSIP: N/A<br>LEI: S2M8QDKEE05NZN8JD460       | Long             | DBT              | CORP              | GB        |    650000 | PA      | $877072.15    | 0.30%             | 2036-11-04      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Westpac Banking Corp.                                      | Westpac Banking Corp.                                      | CUSIP: ZB9054022<br>LEI: EN5TNI6CI43VEPAMHL14 | Long             | DBT              | CORP              | AU        |   1200000 | PA      | $846443.95    | 0.29%             | 2029-05-14      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| Mercedes-Benz International Finance B.V.                   | Mercedes-Benz International Finance B.V.                   | CUSIP: ZB9408657<br>LEI: 529900RUGCXMPEENHQ31 | Long             | DBT              | CORP              | NL        |    328000 | PA      | $396408.79    | 0.14%             | 2030-11-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Places For People Treasury PLC                             | Places For People Treasury PLC                             | CUSIP: ZK5140189<br>LEI: 213800B9U45TFBXW5K67 | Long             | DBT              | CORP              | GB        |    400000 | PA      | $497939.43    | 0.17%             | 2055-05-11      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Novo Nordisk Finance (Netherlands) B.V.                    | Novo Nordisk Finance (Netherlands) B.V.                    | CUSIP: YX0681941<br>LEI: 549300X0PCJ6M2JZQW91 | Long             | DBT              | CORP              | NL        |    300000 | PA      | $363379.58    | 0.13%             | 2031-01-21      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Novo Nordisk Finance (Netherlands) B.V.                    | Novo Nordisk Finance (Netherlands) B.V.                    | CUSIP: YX0681933<br>LEI: 549300X0PCJ6M2JZQW91 | Long             | DBT              | CORP              | NL        |    300000 | PA      | $363208.27    | 0.13%             | 2029-01-21      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| Novo Nordisk Finance (Netherlands) B.V.                    | Novo Nordisk Finance (Netherlands) B.V.                    | CUSIP: YX0681958<br>LEI: 549300X0PCJ6M2JZQW91 | Long             | DBT              | CORP              | NL        |    300000 | PA      | $357612.35    | 0.12%             | 2034-05-21      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| Swisscom Finance B.V.                                      | Swisscom Finance B.V.                                      | CUSIP: YX2449776<br>LEI: 549300L41E8X8K71RV25 | Long             | DBT              | CORP              | NL        |    400000 | PA      | $487066.62    | 0.17%             | 2031-11-29      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Bell Canada                                                | Bell Canada                                                | CUSIP: 07813ZCR3<br>LEI: 5493000G3EFX9S7TDE29 | Long             | DBT              | CORP              | CA        |    900000 | PA      | $704148.73    | 0.24%             | 2034-08-24      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| Swisscom Finance B.V.                                      | Swisscom Finance B.V.                                      | CUSIP: YX2449784<br>LEI: 549300L41E8X8K71RV25 | Long             | DBT              | CORP              | NL        |    200000 | PA      | $238128.69    | 0.08%             | 2036-11-29      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| Norway Government Bond                                     | Norway Government Bond, Series 488                         | CUSIP: YX2465574<br>LEI: 549300L0BT3FJTN9MX24 | Long             | DBT              | NUSS              | NO        |   2900000 | PA      | $283722.09    | 0.10%             | 2039-05-31      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| Nordea Bank Abp                                            | Nordea Bank Abp                                            | CUSIP: YX4977998<br>LEI: 529900ODI3047E2LIV03 | Long             | DBT              | CORP              | FI        |    300000 | PA      | $365921.21    | 0.13%             | 2029-06-11      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| Rothesay Life PLC                                          | Rothesay Life PLC                                          | CUSIP: YX4981818<br>LEI: MFQO711J5UPYBWXSPG12 | Long             | DBT              | CORP              | GB        |    400000 | PA      | $589788.28    | 0.20%             | 2034-12-10      | Fixed         | 7.02%                 | No            |                  2 | On Loan: No      |
| UniCredit S.p.A.                                           | UniCredit S.p.A.                                           | CUSIP: YX5285268<br>LEI: 549300TRUWO2CD2G5692 | Long             | DBT              | CORP              | IT        |    300000 | PA      | $369059.59    | 0.13%             | 2034-06-11      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| Motability Operations Group PLC                            | Motability Operations Group PLC                            | CUSIP: YX5601670<br>LEI: AZ3NL8JCZDCNUXFWI720 | Long             | DBT              | CORP              | GB        |    300000 | PA      | $368073.43    | 0.13%             | 2035-06-17      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Motability Operations Group PLC                            | Motability Operations Group PLC                            | CUSIP: YX5601696<br>LEI: AZ3NL8JCZDCNUXFWI720 | Long             | DBT              | CORP              | GB        |    450000 | PA      | $578493.13    | 0.20%             | 2051-06-17      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Motability Operations Group PLC                            | Motability Operations Group PLC                            | CUSIP: YX5601647<br>LEI: AZ3NL8JCZDCNUXFWI720 | Long             | DBT              | CORP              | GB        |    200000 | PA      | $246878.77    | 0.09%             | 2030-01-17      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Coastal Gaslink Pipeline L.P.                              | Coastal Gaslink Pipeline L.P., Series J                    | CUSIP: 19046FAV4<br>LEI: 549300P0NSGTO3Z5VQ83 | Long             | DBT              | CORP              | CA        |    850000 | PA      | $702120.15    | 0.24%             | 2049-03-30      | Fixed         | 5.86%                 | No            |                  2 | On Loan: No      |
| Coastal Gaslink Pipeline L.P.                              | Coastal Gaslink Pipeline L.P., Series K                    | CUSIP: 19046FAW2<br>LEI: 549300P0NSGTO3Z5VQ83 | Long             | DBT              | CORP              | CA        |    850000 | PA      | $702578.37    | 0.24%             | 2049-06-30      | Fixed         | 5.86%                 | No            |                  2 | On Loan: No      |
| Toyota Motor Credit Corp.                                  | Toyota Motor Credit Corp.                                  | CUSIP: YW2551581<br>LEI: Z2VZBHUMB7PWWJ63I008 | Long             | DBT              | CORP              | US        |    200000 | PA      | $245283.25    | 0.09%             | 2031-07-15      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| Bank of Montreal                                           | Bank of Montreal                                           | CUSIP: 06368L5G7<br>LEI: NQQ6HPCNCCU6TUTQYE16 | Long             | DBT              | CORP              | CA        |   1650000 | PA      | $1263487.06   | 0.44%             | 2029-07-17      | Fixed         | 4.42%                 | No            |                  2 | On Loan: No      |
| Hydro One Inc.                                             | Hydro One Inc.                                             | CUSIP: 44810ZCS7<br>LEI: 549300X54QEYZVDC8R04 | Long             | DBT              | CORP              | CA        |    930000 | PA      | $700547.58    | 0.24%             | 2035-01-04      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| National Australia Bank Ltd.                               | National Australia Bank Ltd.                               | CUSIP: YV3209025<br>LEI: F8SB4JFBSYQFRQEH3Z21 | Long             | DBT              | CORP              | AU        |    400000 | PA      | $481119.12    | 0.17%             | 2030-02-28      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| East Japan Railway Co.                                     | East Japan Railway Co.                                     | CUSIP: YV4539685<br>LEI: 353800SENYJ2DSM6PS44 | Long             | DBT              | CORP              | JP        |    500000 | PA      | $653660.79    | 0.23%             | 2054-09-04      | Fixed         | 5.56%                 | No            |                  2 | On Loan: No      |
| Diageo Finance PLC                                         | Diageo Finance PLC                                         | CUSIP: YV4271578<br>LEI: BPF79TJMIH3DK8XCKI50 | Long             | DBT              | CORP              | GB        |    200000 | PA      | $239018.32    | 0.08%             | 2031-02-28      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| EssilorLuxottica                                           | EssilorLuxottica                                           | CUSIP: YV4787730<br>LEI: 549300M3VH1A3ER1TB49 | Long             | DBT              | CORP              | FR        |    300000 | PA      | $359969.94    | 0.12%             | 2029-03-05      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| Anglian Water Services Financing PLC                       | Anglian Water Services Financing PLC                       | CUSIP: YV5650028<br>LEI: 213800DL377MH46PDY63 | Long             | DBT              | CORP              | GB        |    600000 | PA      | $791745.57    | 0.27%             | 2044-09-12      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Orsted A/S                                                 | Orsted A/S                                                 | CUSIP: N/A<br>LEI: W9NG6WMZIYEU8VEDOG48       | Long             | DBT              | CORP              | DK        |    700000 | PA      | $938925.83    | 0.33%             | 2032-01-12      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Yorkshire Water Finance PLC                                | Yorkshire Water Finance PLC                                | CUSIP: YV6460682<br>LEI: 213800O8BDOGHJMTCP32 | Long             | DBT              | CORP              | GB        |    400000 | PA      | $569833.32    | 0.20%             | 2034-11-18      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Severn Trent Utilities Finance PLC                         | Severn Trent Utilities Finance PLC                         | CUSIP: N/A<br>LEI: 213800KY9PT6WBH33232       | Long             | DBT              | CORP              | GB        |    500000 | PA      | $603053.41    | 0.21%             | 2042-01-24      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| E.ON International Finance B.V.                            | E.ON International Finance B.V.                            | CUSIP: N/A<br>LEI: 549300TG53AWJ719M814       | Long             | DBT              | CORP              | NL        |    500000 | PA      | $667707.74    | 0.23%             | 2034-01-31      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Westpac New Zealand Ltd.                                   | Westpac New Zealand Ltd.                                   | CUSIP: YV7912327<br>LEI: 549300MW73M5PK1PNG73 | Long             | DBT              | CORP              | NZ        |    900000 | PA      | $548474.76    | 0.19%             | 2029-09-24      | Fixed         | 4.34%                 | No            |                  2 | On Loan: No      |
| Credit Agricole S.A.                                       | Credit Agricole S.A.                                       | CUSIP: YV9219580<br>LEI: 969500TJ5KRTCJQWXH05 | Long             | DBT              | CORP              | FR        |    300000 | PA      | $354449.54    | 0.12%             | 2034-09-26      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Federation des caisses Desjardins du Quebec                | Federation des caisses Desjardins du Quebec                | CUSIP: 31430W3J1<br>LEI: 549300B2Q47IR0CR5B54 | Long             | DBT              | CORP              | CA        |   1100000 | PA      | $825599.08    | 0.29%             | 2029-09-24      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| Banco Santander S.A.                                       | Banco Santander S.A.                                       | CUSIP: YV9872180<br>LEI: 5493006QMFDDMYWIAM13 | Long             | DBT              | CORP              | ES        |    300000 | PA      | $359583.19    | 0.12%             | 2032-10-02      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| T.H.F.C. (Funding No.3) PLC                                | T.H.F.C. (Funding No.3) PLC                                | CUSIP: N/A<br>LEI: 2138003VKRGBYNDTVV92       | Long             | DBT              | CORP              | GB        |    900000 | PA      | $1148092.47   | 0.40%             | 2043-10-11      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| Banque Federative du Credit Mutuel                         | Banque Federative du Credit Mutuel                         | CUSIP: YU3714323<br>LEI: VBHFXSYT7OG62HNT8T76 | Long             | DBT              | CORP              | FR        |    300000 | PA      | $357384.62    | 0.12%             | 2031-10-17      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Eurogrid GmbH                                              | Eurogrid GmbH                                              | CUSIP: YU3720031<br>LEI: 967600Q53854Z2NBCC81 | Long             | DBT              | CORP              | DE        |    300000 | PA      | $356630.01    | 0.12%             | 2035-10-18      | Fixed         | 3.73%                 | No            |                  2 | On Loan: No      |
| Engie                                                      | Engie                                                      | CUSIP: YU6515354<br>LEI: LAXUQCHT4FH58LRZDY46 | Long             | DBT              | CORP              | FR        |    400000 | PA      | $514827.96    | 0.18%             | 2050-10-28      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Iberdrola Finanzas, S.A.U.                                 | Iberdrola Finanzas, S.A.U.                                 | CUSIP: YU7440115<br>LEI: 5493004PZNZWWBOUV388 | Long             | DBT              | CORP              | ES        |    400000 | PA      | $547166.14    | 0.19%             | 2036-10-31      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| DSV Finance B.V.                                           | DSV Finance B.V.                                           | CUSIP: YU7464842<br>LEI: 529900RTQQ0IIS4B3E03 | Long             | DBT              | CORP              | NL        |    300000 | PA      | $361083.83    | 0.13%             | 2030-11-06      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| DSV Finance B.V.                                           | DSV Finance B.V.                                           | CUSIP: YU7464834<br>LEI: 529900RTQQ0IIS4B3E03 | Long             | DBT              | CORP              | NL        |    300000 | PA      | $361554.14    | 0.13%             | 2028-11-06      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| Volkswagen Financial Services AG                           | Volkswagen Financial Services AG                           | CUSIP: YT1865047<br>LEI: 529900SSGT49ZZSWYE62 | Long             | DBT              | CORP              | DE        |    300000 | PA      | $360227.12    | 0.12%             | 2027-05-19      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| NatWest Markets PLC                                        | NatWest Markets PLC                                        | CUSIP: YT1485465<br>LEI: RR3QWICWWIPCS8A4S074 | Long             | DBT              | CORP              | GB        |    500000 | PA      | $695333.44    | 0.24%             | 2029-11-18      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Volkswagen Financial Services AG                           | Volkswagen Financial Services AG                           | CUSIP: YT1865054<br>LEI: 529900SSGT49ZZSWYE62 | Long             | DBT              | CORP              | DE        |    300000 | PA      | $364492.03    | 0.13%             | 2029-05-19      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| EnBW International Finance B.V.                            | EnBW International Finance B.V.                            | CUSIP: YT2193811<br>LEI: 724500CNCIO1ZTJ0X675 | Long             | DBT              | CORP              | NL        |    306000 | PA      | $367304.47    | 0.13%             | 2035-11-20      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Snam S.p.A.                                                | Snam S.p.A.                                                | CUSIP: YT3459286<br>LEI: 8156002278562044AF79 | Long             | DBT              | CORP              | IT        |    500000 | PA      | $695915.54    | 0.24%             | 2036-11-26      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| NatWest Markets PLC                                        | NatWest Markets PLC                                        | CUSIP: YS4457877<br>LEI: RR3QWICWWIPCS8A4S074 | Long             | DBT              | CORP              | GB        |    300000 | PA      | $360543.71    | 0.13%             | 2030-01-10      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| ABN AMRO Bank N.V.                                         | ABN AMRO Bank N.V.                                         | CUSIP: YS5949104<br>LEI: BFXS5XCH7N0Y05NIXW11 | Long             | DBT              | CORP              | NL        |    200000 | PA      | $242006.39    | 0.08%             | 2030-01-21      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| Telefonica Emisiones, S.A.                                 | Telefonica Emisiones, S.A.                                 | CUSIP: YS7120415<br>LEI: 549300Y5MFC4SW5Z3K71 | Long             | DBT              | CORP              | ES        |    300000 | PA      | $355543.99    | 0.12%             | 2034-01-23      | Fixed         | 3.72%                 | No            |                  2 | On Loan: No      |
| BMW International Investment B.V.                          | BMW International Investment B.V.                          | CUSIP: YS6718268<br>LEI: 724500J951RJJFEW5X49 | Long             | DBT              | CORP              | NL        |    250000 | PA      | $301462.93    | 0.10%             | 2029-07-22      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| Deutsche Telekom AG                                        | Deutsche Telekom AG                                        | CUSIP: YS7908512<br>LEI: 549300V9QSIG4WX4GJ96 | Long             | DBT              | CORP              | DE        |    250000 | PA      | $275401.39    | 0.10%             | 2045-02-03      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| OMERS Finance Trust                                        | OMERS Finance Trust                                        | CUSIP: YS8014450<br>LEI: 529900M039WCPES03P17 | Long             | DBT              | NUSS              | CA        |    250000 | PA      | $298172.79    | 0.10%             | 2035-01-28      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Norway Government Bond                                     | Norway Government Bond, Series 489                         | CUSIP: YR2442626<br>LEI: 549300L0BT3FJTN9MX24 | Long             | DBT              | NUSS              | NO        |   3100000 | PA      | $312514.16    | 0.11%             | 2035-06-12      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Imperial Brands Finance PLC                                | Imperial Brands Finance PLC                                | CUSIP: YR2846032<br>LEI: 2138008L3B3MCG1DFS50 | Long             | DBT              | CORP              | GB        |    200000 | PA      | $236163.63    | 0.08%             | 2034-02-12      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| CDP Financial Inc.                                         | CDP Financial Inc.                                         | CUSIP: YR2881906<br>LEI: 549300OXMGVYFCBFV096 | Long             | DBT              | NUSS              | CA        |    250000 | PA      | $295298.81    | 0.10%             | 2032-02-13      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| Banco Santander S.A.                                       | Banco Santander S.A.                                       | CUSIP: YR3239021<br>LEI: 5493006QMFDDMYWIAM13 | Long             | DBT              | CORP              | ES        |    300000 | PA      | $354630.00    | 0.12%             | 2035-02-17      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Carlsberg Breweries A/S                                    | Carlsberg Breweries A/S                                    | CUSIP: YR5520204<br>LEI: 5493008YL42784DMWN61 | Long             | DBT              | CORP              | DK        |    400000 | PA      | $542469.35    | 0.19%             | 2039-02-28      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Credit Agricole S.A.                                       | Credit Agricole S.A.                                       | CUSIP: YR6745206<br>LEI: 969500TJ5KRTCJQWXH05 | Long             | DBT              | CORP              | FR        |    200000 | PA      | $237844.00    | 0.08%             | 2032-02-26      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| Carlsberg Breweries A/S                                    | Carlsberg Breweries A/S                                    | CUSIP: YR5520154<br>LEI: 5493008YL42784DMWN61 | Long             | DBT              | CORP              | DK        |    250000 | PA      | $299716.78    | 0.10%             | 2029-08-28      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| TransCanada Pipelines Ltd.                                 | TransCanada Pipelines Ltd.                                 | CUSIP: 89353ZCQ9<br>LEI: 5BV01I6231JPDAPMGH09 | Long             | DBT              | CORP              | CA        |    900000 | PA      | $677862.87    | 0.24%             | 2035-02-20      | Fixed         | 4.58%                 | No            |                  2 | On Loan: No      |
| Carlsberg Breweries A/S                                    | Carlsberg Breweries A/S                                    | CUSIP: YR5520162<br>LEI: 5493008YL42784DMWN61 | Long             | DBT              | CORP              | DK        |    300000 | PA      | $357823.77    | 0.12%             | 2032-02-28      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Carlsberg Breweries A/S                                    | Carlsberg Breweries A/S                                    | CUSIP: YR5520188<br>LEI: 5493008YL42784DMWN61 | Long             | DBT              | CORP              | DK        |    250000 | PA      | $294415.47    | 0.10%             | 2035-02-28      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Sweden Government Bond                                     | Sweden Government Bond, Series 1056                        | CUSIP: EJ0857460<br>LEI: ERE94C0BSULG2RM19605 | Long             | DBT              | NUSS              | SE        |   1200000 | PA      | $134007.96    | 0.05%             | 2032-06-01      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| Optivo Finance PLC                                         | Optivo Finance PLC                                         | CUSIP: EJ0543508<br>LEI: 213800DU46CL9M2ZRN02 | Long             | DBT              | CORP              | GB        |    400000 | PA      | $505610.66    | 0.18%             | 2043-03-13      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Nationwide Building Society                                | Nationwide Building Society                                | CUSIP: YR7946530<br>LEI: 549300XFX12G42QIKN82 | Long             | DBT              | CORP              | GB        |    200000 | PA      | $238886.36    | 0.08%             | 2030-03-03      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| TotalEnergies Capital International                        | TotalEnergies Capital International                        | CUSIP: YR7939717<br>LEI: 549300U37G2I8G4RUG09 | Long             | DBT              | CORP              | FR        |    300000 | PA      | $330346.64    | 0.11%             | 2045-03-03      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| TotalEnergies Capital International                        | TotalEnergies Capital International                        | CUSIP: YR7939691<br>LEI: 549300U37G2I8G4RUG09 | Long             | DBT              | CORP              | FR        |    200000 | PA      | $235840.70    | 0.08%             | 2033-03-03      | Fixed         | 3.16%                 | No            |                  2 | On Loan: No      |
| Banque Federative du Credit Mutuel                         | Banque Federative du Credit Mutuel                         | CUSIP: YR8790838<br>LEI: VBHFXSYT7OG62HNT8T76 | Long             | DBT              | CORP              | FR        |    300000 | PA      | $354607.30    | 0.12%             | 2035-03-07      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| Landesbank Hessen-Thueringen Girozentrale                  | Landesbank Hessen-Thueringen Girozentrale                  | CUSIP: YR8789756<br>LEI: DIZES5CFO5K3I5R58746 | Long             | DBT              | CORP              | DE        |    300000 | PA      | $355358.19    | 0.12%             | 2032-03-05      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Var Energi ASA                                             | Var Energi ASA                                             | CUSIP: YQ0595062<br>LEI: 549300LIVN3FFOJN2K47 | Long             | DBT              | CORP              | NO        |    200000 | PA      | $241570.52    | 0.08%             | 2031-03-12      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Skandinaviska Enskilda Banken AB                           | Skandinaviska Enskilda Banken AB                           | CUSIP: YQ3533953<br>LEI: F3JS33DEI6XQ4ZBPTN86 | Long             | DBT              | CORP              | SE        |    300000 | PA      | $363429.25    | 0.13%             | 2030-03-19      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| Santander UK PLC                                           | Santander UK PLC                                           | CUSIP: YQ5180613<br>LEI: PTCQB104N23FMNK2RZ28 | Long             | DBT              | CORP              | GB        |    300000 | PA      | $362904.53    | 0.13%             | 2030-03-25      | Fixed         | 3.35%                 | No            |                  2 | On Loan: No      |
| Siemens Financieringsmaatschappij N.V.                     | Siemens Financieringsmaatschappij N.V.                     | CUSIP: EJ3454752<br>LEI: TAFO772JB70PDRN5VS48 | Long             | DBT              | CORP              | NL        |    600000 | PA      | $662245.06    | 0.23%             | 2042-09-10      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Centrica PLC                                               | Centrica PLC                                               | CUSIP: EJ3439845<br>LEI: E26EDV109X6EEPBKVH76 | Long             | DBT              | CORP              | GB        |    500000 | PA      | $539712.39    | 0.19%             | 2044-09-12      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Banque Federative du Credit Mutuel                         | Banque Federative du Credit Mutuel                         | CUSIP: YP9807445<br>LEI: VBHFXSYT7OG62HNT8T76 | Long             | DBT              | CORP              | FR        |    200000 | PA      | $238476.72    | 0.08%             | 2030-05-07      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Nordea Bank Abp                                            | Nordea Bank Abp                                            | CUSIP: YP9328863<br>LEI: 529900ODI3047E2LIV03 | Long             | DBT              | CORP              | FI        |    300000 | PA      | $356386.31    | 0.12%             | 2030-05-02      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| LVMH Moet Hennessy Louis Vuitton                           | LVMH Moet Hennessy Louis Vuitton                           | CUSIP: N/A<br>LEI: IOG4E947OATN0KJYSD45       | Long             | DBT              | CORP              | FR        |    300000 | PA      | $357935.42    | 0.12%             | 2029-03-07      | Fixed         | 2.62%                 | No            |                  2 | On Loan: No      |
| BMW Finance N.V.                                           | BMW Finance N.V.                                           | CUSIP: N/A<br>LEI: 5299006ZHG3IXU0PNJ56       | Long             | DBT              | CORP              | NL        |    300000 | PA      | $357974.01    | 0.12%             | 2028-05-20      | Fixed         | 2.62%                 | No            |                  2 | On Loan: No      |
| BHP Billiton Finance Ltd.                                  | BHP Billiton Finance Ltd., Series 12                       | CUSIP: EJ3722414<br>LEI: 549300KZMIS43NMT0A66 | Long             | DBT              | CORP              | AU        |    850000 | PA      | $983929.89    | 0.34%             | 2042-09-25      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| Novo Nordisk Finance (Netherlands) B.V.                    | Novo Nordisk Finance (Netherlands) B.V.                    | CUSIP: N/A<br>LEI: 549300X0PCJ6M2JZQW91       | Long             | DBT              | CORP              | NL        |    300000 | PA      | $355508.66    | 0.12%             | 2037-05-27      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| Siemens Financieringsmaatschappij N.V.                     | Siemens Financieringsmaatschappij N.V.                     | CUSIP: N/A<br>LEI: TAFO772JB70PDRN5VS48       | Long             | DBT              | CORP              | NL        |    300000 | PA      | $358274.15    | 0.12%             | 2029-05-27      | Fixed         | 2.62%                 | No            |                  2 | On Loan: No      |
| Siemens Financieringsmaatschappij N.V.                     | Siemens Financieringsmaatschappij N.V.                     | CUSIP: N/A<br>LEI: TAFO772JB70PDRN5VS48       | Long             | DBT              | CORP              | NL        |    200000 | PA      | $241191.92    | 0.08%             | 2036-05-27      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| Robert Bosch Finance LLC                                   | Robert Bosch Finance LLC                                   | CUSIP: N/A<br>LEI: 549300VQST07EL5DYC58       | Long             | DBT              | CORP              | US        |    300000 | PA      | $358332.76    | 0.12%             | 2028-05-28      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| Novo Nordisk Finance (Netherlands) B.V.                    | Novo Nordisk Finance (Netherlands) B.V.                    | CUSIP: N/A<br>LEI: 549300X0PCJ6M2JZQW91       | Long             | DBT              | CORP              | NL        |    300000 | PA      | $358340.79    | 0.12%             | 2030-08-27      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| Banco Santander S.A.                                       | Banco Santander S.A.                                       | CUSIP: N/A<br>LEI: 5493006QMFDDMYWIAM13       | Long             | DBT              | CORP              | ES        |    300000 | PA      | $357629.37    | 0.12%             | 2032-05-27      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Credit Agricole S.A.                                       | Credit Agricole S.A.                                       | CUSIP: N/A<br>LEI: 969500TJ5KRTCJQWXH05       | Long             | DBT              | CORP              | FR        |    300000 | PA      | $357986.89    | 0.12%             | 2035-05-27      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| ABN AMRO Bank N.V.                                         | ABN AMRO Bank N.V.                                         | CUSIP: N/A<br>LEI: BFXS5XCH7N0Y05NIXW11       | Long             | DBT              | CORP              | NL        |    200000 | PA      | $239412.34    | 0.08%             | 2029-06-04      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| Ontario Teachers' Finance Trust                            | Ontario Teachers' Finance Trust                            | CUSIP: N/A<br>LEI: 635400ZZE5J8OXXBBY26       | Long             | DBT              | NUSS              | CA        |    300000 | PA      | $357009.28    | 0.12%             | 2031-12-04      | Fixed         | 2.85%                 | No            |                  2 | On Loan: No      |
| Bank of Montreal                                           | Bank of Montreal                                           | CUSIP: 06368MRF3<br>LEI: NQQ6HPCNCCU6TUTQYE16 | Long             | DBT              | CORP              | CA        |   1300000 | PA      | $968536.72    | 0.34%             | 2031-06-03      | Variable      | 3.73%                 | No            |                  2 | On Loan: No      |
| EssilorLuxottica                                           | EssilorLuxottica                                           | CUSIP: YN0894439<br>LEI: 549300M3VH1A3ER1TB49 | Long             | DBT              | CORP              | FR        |    300000 | PA      | $355043.19    | 0.12%             | 2030-01-10      | Fixed         | 2.62%                 | No            |                  2 | On Loan: No      |
| UniCredit S.p.A.                                           | UniCredit S.p.A.                                           | CUSIP: YN0894223<br>LEI: 549300TRUWO2CD2G5692 | Long             | DBT              | CORP              | IT        |    300000 | PA      | $358865.85    | 0.12%             | 2035-06-10      | Fixed         | 3.73%                 | No            |                  2 | On Loan: No      |
| CDP Financial Inc.                                         | CDP Financial Inc.                                         | CUSIP: YN1170086<br>LEI: 549300OXMGVYFCBFV096 | Long             | DBT              | NUSS              | CA        |   1400000 | PA      | $952945.80    | 0.33%             | 2030-06-13      | Fixed         | 4.10%                 | No            |                  2 | On Loan: No      |
| CaixaBank, S.A.                                            | CaixaBank, S.A.                                            | CUSIP: YN5385904<br>LEI: 7CUNS533WID6K7DGFI87 | Long             | DBT              | CORP              | ES        |    300000 | PA      | $354268.63    | 0.12%             | 2035-06-26      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| Snam S.p.A.                                                | Snam S.p.A.                                                | CUSIP: YN6823010<br>LEI: 8156002278562044AF79 | Long             | DBT              | CORP              | IT        |    300000 | PA      | $356809.65    | 0.12%             | 2032-07-01      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| TotalEnergies Capital International                        | TotalEnergies Capital International                        | CUSIP: YN6824364<br>LEI: 549300U37G2I8G4RUG09 | Long             | DBT              | CORP              | FR        |    200000 | PA      | $238265.45    | 0.08%             | 2031-07-01      | Fixed         | 3.08%                 | No            |                  2 | On Loan: No      |
| TotalEnergies Capital International                        | TotalEnergies Capital International                        | CUSIP: YN6824372<br>LEI: 549300U37G2I8G4RUG09 | Long             | DBT              | CORP              | FR        |    300000 | PA      | $356865.79    | 0.12%             | 2035-07-01      | Fixed         | 3.65%                 | No            |                  2 | On Loan: No      |
| Vodafone Group PLC                                         | Vodafone Group PLC                                         | CUSIP: YN8715297<br>LEI: 213800TB53ELEUKM7Q61 | Long             | DBT              | CORP              | GB        |    400000 | PA      | $556459.43    | 0.19%             | 2050-07-03      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Banco Bilbao Vizcaya Argentaria S.A.                       | Banco Bilbao Vizcaya Argentaria S.A.                       | CUSIP: YM1183172<br>LEI: K8MS7FD7N5Z2WQ51AZ71 | Long             | DBT              | CORP              | ES        |    300000 | PA      | $359480.06    | 0.12%             | 2030-07-15      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| NTT Finance Corp.                                          | NTT Finance Corp.                                          | CUSIP: YM0828249<br>LEI: 3538007PR116187GD960 | Long             | DBT              | CORP              | JP        |    300000 | PA      | $358322.87    | 0.12%             | 2029-03-16      | Fixed         | 2.91%                 | No            |                  2 | On Loan: No      |
| NTT Finance Corp.                                          | NTT Finance Corp.                                          | CUSIP: YM0828256<br>LEI: 3538007PR116187GD960 | Long             | DBT              | CORP              | JP        |    350000 | PA      | $422777.55    | 0.15%             | 2033-07-16      | Fixed         | 3.68%                 | No            |                  2 | On Loan: No      |
| NTT Finance Corp.                                          | NTT Finance Corp.                                          | CUSIP: YM0828280<br>LEI: 3538007PR116187GD960 | Long             | DBT              | CORP              | JP        |    350000 | PA      | $424414.76    | 0.15%             | 2037-07-16      | Fixed         | 4.09%                 | No            |                  2 | On Loan: No      |
| Nationwide Building Society                                | Nationwide Building Society                                | CUSIP: YL1776712<br>LEI: 549300XFX12G42QIKN82 | Long             | DBT              | CORP              | GB        |    300000 | PA      | $353489.14    | 0.12%             | 2032-08-18      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| Banco Bilbao Vizcaya Argentaria S.A.                       | Banco Bilbao Vizcaya Argentaria S.A.                       | CUSIP: YL4782733<br>LEI: K8MS7FD7N5Z2WQ51AZ71 | Long             | DBT              | CORP              | ES        |    200000 | PA      | $239793.57    | 0.08%             | 2035-08-26      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Schneider Electric SE                                      | Schneider Electric SE                                      | CUSIP: YL6371337<br>LEI: 969500A1YF1XUYYXS284 | Long             | DBT              | CORP              | FR        |    300000 | PA      | $356976.40    | 0.12%             | 2037-09-02      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| Orange                                                     | Orange                                                     | CUSIP: YL7080952<br>LEI: 969500MCOONR8990S771 | Long             | DBT              | CORP              | FR        |    300000 | PA      | $354315.87    | 0.12%             | 2037-09-04      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| ASB Bank Ltd.                                              | ASB Bank Ltd.                                              | CUSIP: YL6354366<br>LEI: 549300IBZWZL1KTPF918 | Long             | DBT              | CORP              | NZ        |   1000000 | PA      | $599705.86    | 0.21%             | 2030-09-02      | Fixed         | 4.10%                 | No            |                  2 | On Loan: No      |
| NatWest Markets PLC                                        | NatWest Markets PLC                                        | CUSIP: YL6735689<br>LEI: RR3QWICWWIPCS8A4S074 | Long             | DBT              | CORP              | GB        |    300000 | PA      | $357030.69    | 0.12%             | 2030-09-03      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Scentre Group Trust 1                                      | Scentre Group Trust 1                                      | CUSIP: YK0334747<br>LEI: 549300SQ859FBKRKSI77 | Long             | DBT              | CORP              | AU        |   1000000 | PA      | $677663.20    | 0.24%             | 2035-09-18      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| LSEG Finance PLC                                           | LSEG Finance PLC                                           | CUSIP: YK0857879<br>LEI: 2138009YFYTGEHZNNZ09 | Long             | DBT              | CORP              | GB        |    400000 | PA      | $551370.50    | 0.19%             | 2032-09-19      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Capgemini SE                                               | Capgemini SE                                               | CUSIP: YK2152329<br>LEI: 96950077L0TN7BAROX36 | Long             | DBT              | CORP              | FR        |    300000 | PA      | $353882.96    | 0.12%             | 2031-09-25      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| Toronto-Dominion Bank (The)                                | Toronto-Dominion Bank (The)                                | CUSIP: YK1757920<br>LEI: PT3QB789TSUIDF371261 | Long             | DBT              | CORP              | CA        |    300000 | PA      | $355952.87    | 0.12%             | 2032-09-22      | Fixed         | 3.36%                 | No            |                  2 | On Loan: No      |
| Capgemini SE                                               | Capgemini SE                                               | CUSIP: YK2152337<br>LEI: 96950077L0TN7BAROX36 | Long             | DBT              | CORP              | FR        |    400000 | PA      | $466775.52    | 0.16%             | 2034-09-25      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Action Logement Services                                   | Action Logement Services                                   | CUSIP: YK3429221<br>LEI: 969500O2QYH3YW92C551 | Long             | DBT              | NUSS              | FR        |    100000 | PA      | $119608.02    | 0.04%             | 2035-11-25      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| CDP Financial Inc.                                         | CDP Financial Inc.                                         | CUSIP: YK3317178<br>LEI: 549300OXMGVYFCBFV096 | Long             | DBT              | NUSS              | CA        |    250000 | PA      | $297095.68    | 0.10%             | 2035-09-30      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Cooperatieve Rabobank U.A.                                 | Cooperatieve Rabobank U.A.                                 | CUSIP: YK5570659<br>LEI: DG3RU1DBUFHT4ZF9WN62 | Long             | DBT              | CORP              | NL        |    200000 | PA      | $235988.14    | 0.08%             | 2035-10-08      | Fixed         | 3.55%                 | No            |                  2 | On Loan: No      |
| National Australia Bank Ltd.                               | National Australia Bank Ltd.                               | CUSIP: YK8899055<br>LEI: F8SB4JFBSYQFRQEH3Z21 | Long             | DBT              | CORP              | AU        |    800000 | PA      | $545364.30    | 0.19%             | 2035-10-16      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| Orange                                                     | Orange                                                     | CUSIP: DA0861173<br>LEI: 969500MCOONR8990S771 | Long             | DBT              | CORP              | FR        |    300000 | PA      | $357170.96    | 0.12%             | 2031-11-13      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| Orange                                                     | Orange                                                     | CUSIP: DA0861215<br>LEI: 969500MCOONR8990S771 | Long             | DBT              | CORP              | FR        |    400000 | PA      | $473573.46    | 0.16%             | 2034-11-13      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Westpac Banking Corp.                                      | Westpac Banking Corp.                                      | CUSIP: DA0500581<br>LEI: EN5TNI6CI43VEPAMHL14 | Long             | DBT              | CORP              | AU        |   1000000 | PA      | $686476.12    | 0.24%             | 2030-10-30      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Orange                                                     | Orange                                                     | CUSIP: DA0861280<br>LEI: 969500MCOONR8990S771 | Long             | DBT              | CORP              | FR        |    300000 | PA      | $350751.56    | 0.12%             | 2038-05-13      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| L'Oreal                                                    | L'Oreal                                                    | CUSIP: DA3578733<br>LEI: 529900JI1GG6F7RKVI53 | Long             | DBT              | CORP              | FR        |    200000 | PA      | $238170.52    | 0.08%             | 2030-11-19      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| L'Oreal                                                    | L'Oreal                                                    | CUSIP: DA3579053<br>LEI: 529900JI1GG6F7RKVI53 | Long             | DBT              | CORP              | FR        |    300000 | PA      | $354879.76    | 0.12%             | 2036-01-19      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| Westpac New Zealand Ltd.                                   | Westpac New Zealand Ltd.                                   | CUSIP: YJ9905706<br>LEI: 549300MW73M5PK1PNG73 | Long             | DBT              | CORP              | NZ        |    800000 | PA      | $473138.85    | 0.16%             | 2030-11-19      | Fixed         | 3.87%                 | No            |                  2 | On Loan: No      |
| Hydro One Inc.                                             | Hydro One Inc., Series 64                                  | CUSIP: 44810ZCW8<br>LEI: 549300X54QEYZVDC8R04 | Long             | DBT              | CORP              | CA        |   1000000 | PA      | $741143.89    | 0.26%             | 2033-11-21      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| Standard Chartered PLC                                     | Standard Chartered PLC                                     | CUSIP: EJ5142421<br>LEI: U4LOSYZ7YG4W3S5F2G91 | Long             | DBT              | CORP              | GB        |    500000 | PA      | $619804.66    | 0.21%             | 2038-01-18      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| High Speed Rail Finance (1) PLC                            | High Speed Rail Finance (1) PLC                            | CUSIP: EJ5315316<br>LEI: 21380087GQQTIHCRLU65 | Long             | DBT              | CORP              | GB        |    550000 | PA      | $704161.30    | 0.24%             | 2038-11-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Allianz Finance II B.V.                                    | Allianz Finance II B.V., Series 62                         | CUSIP: EJ5793009<br>LEI: 529900C9NVPTCPDI1D65 | Long             | DBT              | CORP              | NL        |    700000 | PA      | $847017.86    | 0.29%             | 2043-03-13      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Scottish Widows Ltd.                                       | Scottish Widows Ltd.                                       | CUSIP: EJ6286110<br>LEI: 549300ZT0RVWCG8T4L55 | Long             | DBT              | CORP              | GB        |    550000 | PA      | $794805.07    | 0.28%             | 2043-06-16      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Heathrow Funding Ltd.                                      | Heathrow Funding Ltd.                                      | CUSIP: EJ9027123<br>LEI: 7TI96JO3DYEIQWZ7Z726 | Long             | DBT              | CORP              | JE        |    600000 | PA      | $671676.58    | 0.23%             | 2046-10-31      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Eni S.p.A.                                                 | Eni S.p.A.                                                 | CUSIP: EK0407552<br>LEI: BUCRF72VH5RBN7X3VL35 | Long             | DBT              | CORP              | IT        |    300000 | PA      | $367244.78    | 0.13%             | 2029-01-29      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| Imperial Brands Finance PLC                                | Imperial Brands Finance PLC                                | CUSIP: EK0947458<br>LEI: 2138008L3B3MCG1DFS50 | Long             | DBT              | CORP              | GB        |    500000 | PA      | $680673.24    | 0.24%             | 2032-06-07      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| BPCE S.A.                                                  | BPCE S.A.                                                  | CUSIP: EK1705079<br>LEI: 9695005MSX1OYEMGDF46 | Long             | DBT              | CORP              | FR        |    600000 | PA      | $832157.87    | 0.29%             | 2029-04-16      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Cooperatieve Rabobank U.A.                                 | Cooperatieve Rabobank U.A.                                 | CUSIP: EK2758630<br>LEI: DG3RU1DBUFHT4ZF9WN62 | Long             | DBT              | CORP              | NL        |    900000 | PA      | $1235897.82   | 0.43%             | 2029-05-23      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Standard Chartered PLC                                     | Standard Chartered PLC                                     | CUSIP: EK3126134<br>LEI: U4LOSYZ7YG4W3S5F2G91 | Long             | DBT              | CORP              | GB        |    500000 | PA      | $670759.16    | 0.23%             | 2034-06-06      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| TotalEnergies Capital Canada Ltd.                          | TotalEnergies Capital Canada Ltd.                          | CUSIP: EK4884269<br>LEI: 5299005IX98ZZ9LSGK46 | Long             | DBT              | CORP              | CA        |    400000 | PA      | $465524.25    | 0.16%             | 2029-09-18      | Fixed         | 2.12%                 | No            |                  2 | On Loan: No      |
| Wellcome Trust Finance PLC                                 | Wellcome Trust Finance PLC                                 | CUSIP: EF5603503<br>LEI: 549300U3Y9NRYP7NOM09 | Long             | DBT              | CORP              | GB        |    450000 | PA      | $601954.42    | 0.21%             | 2036-07-25      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Volkswagen International Finance N.V.                      | Volkswagen International Finance N.V.                      | CUSIP: EK6887302<br>LEI: 5299004PWNHKYTR23649 | Long             | DBT              | CORP              | NL        |    300000 | PA      | $340675.73    | 0.12%             | 2030-01-16      | Fixed         | 1.62%                 | No            |                  2 | On Loan: No      |
| Equinor ASA                                                | Equinor ASA                                                | CUSIP: EK7473698<br>LEI: OW6OFBNCKXC4US5C7523 | Long             | DBT              | CORP              | NO        |    200000 | PA      | $203430.14    | 0.07%             | 2035-02-17      | Fixed         | 1.62%                 | No            |                  2 | On Loan: No      |
| APA Infrastructure Ltd.                                    | APA Infrastructure Ltd.                                    | CUSIP: EK8055262<br>LEI: 261700SS8OEHDOCOUJ33 | Long             | DBT              | CORP              | AU        |    549000 | PA      | $720339.65    | 0.25%             | 2030-03-22      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| GlaxoSmithKline Capital PLC                                | GlaxoSmithKline Capital PLC                                | CUSIP: EH2397139<br>LEI: 549300U0LV41VX7LEP38 | Long             | DBT              | CORP              | GB        |    500000 | PA      | $742811.63    | 0.26%             | 2039-03-09      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Sweden Government Bond                                     | Sweden Government Bond, Series 1059                        | CUSIP: EK9145948<br>LEI: ERE94C0BSULG2RM19605 | Long             | DBT              | NUSS              | SE        |   3500000 | PA      | $392462.20    | 0.14%             | 2026-11-12      | Fixed         | 1.00%                 | No            |                  2 | On Loan: No      |

### Signature

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

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

**Signature:** Adrien Deberghes

**Name of Signer:** Adrien Deberghes

**Title:** Vice President