# EDGAR Filing Document

**Accession Number:** 0001378872
**File Stem:** 0001378872-26-000580
**Filing Date:** 2026-3
**Character Count:** 468119
**Document Hash:** 74e3a4ea19b1aa50add22ec9f34fe851
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001378872-26-000580.hdr.sgml**: 20260330

**ACCESSION NUMBER**: 0001378872-26-000580

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260131

**FILED AS OF DATE**: 20260330

**DATE AS OF CHANGE**: 20260330

**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:** 26811063

**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 Dorsey Wright Developed Markets Momentum ETF (Series ID: S000020450)

| Class ID   | Class Name                                           | Ticker Symbol   |
|:---|:---|:---|
| C000057374 | Invesco Dorsey Wright Developed Markets Momentum ETF | PIZ             |

## Nport-Ex

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

**Invesco China Technology ETF (CQQQ)**

January 31, 2026

*(Unaudited)*

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

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Common Stocks & Other Equity Interests-99.95%** | **Common Stocks & Other Equity Interests-99.95%** | **Common Stocks & Other Equity Interests-99.95%** |
| **Broadline Retail-7.54%** | **Broadline Retail-7.54%** | **Broadline Retail-7.54%** |
| PDD Holdings, Inc., ADR (China)<sup>(b)</sup> | 2357727 | &nbsp;&nbsp; $238248313 |
| **Capital Markets-0.68%** | **Capital Markets-0.68%** | **Capital Markets-0.68%** |
| &nbsp;&nbsp;&nbsp; Hithink RoyalFlush Information Network <br> Co. Ltd., A Shares (China)<br>| 430276 | &nbsp;&nbsp; 21608157 |
| **Electrical Equipment-0.37%** | **Electrical Equipment-0.37%** | **Electrical Equipment-0.37%** |
| &nbsp;&nbsp;&nbsp; China XD Electric Co. Ltd., A Shares <br> (China)<br>| 4104262 | &nbsp;&nbsp; 8545283 |
| &nbsp;&nbsp;&nbsp; Qingdao TGOOD Electric Co. Ltd., A <br> Shares (China)<br>| 845141 | &nbsp;&nbsp; 3270962 |
|  |  | &nbsp;&nbsp; 11816245 |
| **Electronic Equipment, Instruments & Components-11.63%** | **Electronic Equipment, Instruments & Components-11.63%** | **Electronic Equipment, Instruments & Components-11.63%** |
| &nbsp;&nbsp;&nbsp; Avary Holding Shenzhen Co. Ltd., A <br> Shares (China)<br>| 1833265 | &nbsp;&nbsp; 15042809 |
| &nbsp;&nbsp;&nbsp; Beijing Yuanliu Hongyuan Electronic <br> Technology Co. Ltd., A Shares (China)<br>| 180579 | &nbsp;&nbsp; 1413838 |
| &nbsp;&nbsp;&nbsp; BOE Technology Group Co. Ltd., A Shares <br> (China)<br>| 29585961 | &nbsp;&nbsp; 18610031 |
| &nbsp;&nbsp;&nbsp; BOE Technology Group Co. Ltd., B Shares <br> (China)<br>| 7924199 | &nbsp;&nbsp; 3233177 |
| &nbsp;&nbsp;&nbsp; Chaozhou Three-Circle (Group) Co. Ltd., A <br> Shares (China)<br>| 1534312 | &nbsp;&nbsp; 10952120 |
| &nbsp;&nbsp;&nbsp; China Zhenhua (Group) Science & <br> Technology Co. Ltd., A Shares (China)<br>| 443960 | &nbsp;&nbsp; 3480910 |
| &nbsp;&nbsp;&nbsp; Everdisplay Optronics (Shanghai) Co. Ltd., <br> A Shares (China)<sup>(b)</sup><br>| 10620785 | &nbsp;&nbsp; 4053258 |
| &nbsp;&nbsp;&nbsp; Guangzhou Shiyuan Electronic Technology <br> Co. Ltd., A Shares (China)<br>| 557515 | &nbsp;&nbsp; 3169788 |
| &nbsp;&nbsp;&nbsp; Hengdian Group DMEGC Magnetics Co. <br> Ltd., A Shares (China)<br>| 1302430 | &nbsp;&nbsp; 3784872 |
| HGTECH Co., Ltd., A Shares (China) | 805236 | &nbsp;&nbsp; 8968282 |
| IRICO Display Devices Co. Ltd. (China)<sup>(b)</sup> | 2845722 | &nbsp;&nbsp; 2754243 |
| &nbsp;&nbsp;&nbsp; Kingboard Laminates Holdings Ltd. <br> (China)<sup>(c)</sup><br>| 9149501 | &nbsp;&nbsp; 17183997 |
| Lens Technology Co. Ltd. (China)<sup>(c)</sup> | 2506200 | &nbsp;&nbsp; 9403328 |
| &nbsp;&nbsp;&nbsp; Lens Technology Co. Ltd., A Shares <br> (China)<br>| 3989318 | &nbsp;&nbsp; 20815212 |
| &nbsp;&nbsp;&nbsp; Leyard Optoelectronic Co. Ltd., A Shares <br> (China)<br>| 2149913 | &nbsp;&nbsp; 2171942 |
| &nbsp;&nbsp;&nbsp; Lingyi iTech Guangdong Co., A Shares <br> (China)<br>| 5849412 | &nbsp;&nbsp; 12318649 |
| &nbsp;&nbsp;&nbsp; Maxscend Microelectronics Co. Ltd., A <br> Shares (China)<br>| 427884 | &nbsp;&nbsp; 4815328 |
| &nbsp;&nbsp;&nbsp; Raytron Technology Co. Ltd., A Shares <br> (China)<br>| 369053 | &nbsp;&nbsp; 5995930 |
| &nbsp;&nbsp;&nbsp; Shanghai BOCHU Electronic Technology <br> Corp. Ltd., A Shares (China)<br>| 230990 | &nbsp;&nbsp; 5033306 |
| &nbsp;&nbsp;&nbsp; Shengyi Electronics Co. Ltd., A Shares <br> (China)<br>| 534770 | &nbsp;&nbsp; 6777659 |
| &nbsp;&nbsp;&nbsp; Shengyi Technology Co. Ltd., A Shares <br> (China)<br>| 1945204 | &nbsp;&nbsp; 19224261 |
| &nbsp;&nbsp;&nbsp; Shennan Circuits Co. Ltd., A Shares <br> (China)<br>| 533974 | &nbsp;&nbsp; 17842922 |
| &nbsp;&nbsp;&nbsp; Shenzhen Everwin Precision Technology <br> Co. Ltd., A Shares (China)<br>| 1085272 | &nbsp;&nbsp; 6030469 |
| &nbsp;&nbsp;&nbsp; Shenzhen Huaqiang Industry Co. Ltd., A <br> Shares (China)<br>| 837599 | &nbsp;&nbsp; 3150315 |
| &nbsp;&nbsp;&nbsp; Shenzhen Kaifa Technology Co. Ltd., A <br> Shares (China)<br>| 1249298 | &nbsp;&nbsp; 5833569 |
| &nbsp;&nbsp;&nbsp; Shenzhen Kinwong Electronic Co. Ltd., A <br> Shares (China)<br>| 788500 | &nbsp;&nbsp; 7272204 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Electronic Equipment, Instruments & Components-(continued)** | **Electronic Equipment, Instruments & Components-(continued)** | **Electronic Equipment, Instruments & Components-(continued)** |
| &nbsp;&nbsp;&nbsp; Sunny Optical Technology Group Co. Ltd. <br> (China)<sup>(c)</sup><br>| 7692738 | &nbsp;&nbsp; $61665233 |
| &nbsp;&nbsp;&nbsp; TCL Technology Group Corp., A Shares <br> (China)<br>| 16654546 | &nbsp;&nbsp; 11643341 |
| &nbsp;&nbsp;&nbsp; Tianma Microelectronics Co. Ltd., A <br> Shares (China)<sup>(b)</sup><br>| 1940024 | &nbsp;&nbsp; 2708307 |
| &nbsp;&nbsp;&nbsp; Tunghsu Optoelectronic Technology Co. <br> Ltd., A Shares (China)<sup>(b)(d)</sup><br>| 2101000 | &nbsp;&nbsp; 0 |
| &nbsp;&nbsp;&nbsp; Unisplendour Corp. Ltd., A Shares <br> (China)<br>| 2289886 | &nbsp;&nbsp; 8238344 |
| &nbsp;&nbsp;&nbsp; Universal Scientific Industrial Shanghai Co. <br> Ltd., A Shares (China)<br>| 1335284 | &nbsp;&nbsp; 6496827 |
| &nbsp;&nbsp;&nbsp; Victory Giant Technology (HuiZhou) Co. <br> Ltd. (China)<br>| 690523 | &nbsp;&nbsp; 26054047 |
| &nbsp;&nbsp;&nbsp; WUS Printed Circuit Kunshan Co. Ltd., A <br> Shares (China)<br>| 1535960 | &nbsp;&nbsp; 15362554 |
| &nbsp;&nbsp;&nbsp; Xiamen Faratronic Co. Ltd., A Shares <br> (China)<br>| 178309 | &nbsp;&nbsp; 2788035 |
| &nbsp;&nbsp;&nbsp; Zhejiang Crystal-Optech Co. Ltd., A <br> Shares (China)<br>| 1113232 | &nbsp;&nbsp; 3817056 |
| &nbsp;&nbsp;&nbsp; Zhejiang Dahua Technology Co. Ltd., A <br> Shares (China)<br>| 2641635 | &nbsp;&nbsp; 7201162 |
| &nbsp;&nbsp;&nbsp; Zhuzhou Hongda Electronics Corp. Ltd., A <br> Shares (China)<br>| 327145 | &nbsp;&nbsp; 2348521 |
|  |  | &nbsp;&nbsp; 367655846 |
| **Entertainment-4.60%** | **Entertainment-4.60%** | **Entertainment-4.60%** |
| &nbsp;&nbsp;&nbsp; Hangzhou Shunwang Technology Co. Ltd., <br> A Shares (China)<br>| 525508 | &nbsp;&nbsp; 1963701 |
| Kingsoft Corp. Ltd. (China)<sup>(c)</sup> | 11419483 | &nbsp;&nbsp; 43823669 |
| &nbsp;&nbsp;&nbsp; Talkweb Information System Co. Ltd. <br> (China)<sup>(b)</sup><br>| 1005888 | &nbsp;&nbsp; 4570578 |
| &nbsp;&nbsp;&nbsp; Tencent Music Entertainment Group, ADR <br> (China)<sup>(c)</sup><br>| 5661972 | &nbsp;&nbsp; 95007890 |
|  |  | &nbsp;&nbsp; 145365838 |
| **Hotels, Restaurants & Leisure-7.44%** | **Hotels, Restaurants & Leisure-7.44%** | **Hotels, Restaurants & Leisure-7.44%** |
| Meituan, B Shares (China)<sup>(b)(e)</sup> | 17836954 | &nbsp;&nbsp; 220576816 |
| &nbsp;&nbsp;&nbsp; TravelSky Technology Ltd., H Shares <br> (China)<br>| 10665914 | &nbsp;&nbsp; 14510568 |
|  |  | &nbsp;&nbsp; 235087384 |
| **Interactive Media & Services-29.55%** | **Interactive Media & Services-29.55%** | **Interactive Media & Services-29.55%** |
| Autohome, Inc., ADR (China)<sup>(c)</sup> | 702208 | &nbsp;&nbsp; 15476664 |
| Baidu, Inc., A Shares (China)<sup>(b)</sup> | 12684047 | &nbsp;&nbsp; 243196922 |
| Bilibili, Inc., Z Shares (China)<sup>(b)(c)</sup> | 3275714 | &nbsp;&nbsp; 112259863 |
| JOYY, Inc., ADR (China)<sup>(c)</sup> | 306693 | &nbsp;&nbsp; 19735695 |
| Kuaishou Technology (China)<sup>(e)</sup> | 20309099 | &nbsp;&nbsp; 207564118 |
| Meitu, Inc. (China)<sup>(b)(c)(e)</sup> | 38708519 | &nbsp;&nbsp; 38247989 |
| Tencent Holdings Ltd. (China) | 3706181 | &nbsp;&nbsp; 284951314 |
| &nbsp;&nbsp;&nbsp; Visual China Group Co. Ltd., A Shares <br> (China)<br>| 548682 | &nbsp;&nbsp; 2074333 |
| Weibo Corp., A Shares (China) | 972026 | &nbsp;&nbsp; 10382502 |
|  |  | &nbsp;&nbsp; 933889400 |
| **IT Services-2.44%** | **IT Services-2.44%** | **IT Services-2.44%** |
| &nbsp;&nbsp;&nbsp; Beijing Sinnet Technology Co. Ltd., A <br> Shares (China)<br>| 1422903 | &nbsp;&nbsp; 3134469 |
| &nbsp;&nbsp;&nbsp; China TransInfo Technology Co. Ltd., A <br> Shares (China)<br>| 1255401 | &nbsp;&nbsp; 2227849 |
| DHC Software Co. Ltd., A Shares (China) | 2566355 | &nbsp;&nbsp; 3577959 |
| &nbsp;&nbsp;&nbsp; Digital China Information Service Group <br> Co. Ltd., A Shares (China)<sup>(b)</sup><br>| 768114 | &nbsp;&nbsp; 1780768 |
| GDS Holdings Ltd., A Shares (China)<sup>(b)</sup> | 9627206 | &nbsp;&nbsp; 53621704 |

---

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

------

**Invesco China Technology ETF (CQQQ)—(continued)**

January 31, 2026

*(Unaudited)*

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **IT Services-(continued)** | **IT Services-(continued)** | **IT Services-(continued)** |
| &nbsp;&nbsp;&nbsp; iSoftStone Information Technology <br> (Group) Co. Ltd., A Shares (China)<br>| 762847 | &nbsp;&nbsp; $5264236 |
| &nbsp;&nbsp;&nbsp; Taiji Computer Corp. Ltd., A Shares <br> (China)<br>| 487431 | &nbsp;&nbsp; 1696682 |
| &nbsp;&nbsp;&nbsp; Wangsu Science & Technology Co. Ltd., A <br> Shares (China)<br>| 1956766 | &nbsp;&nbsp; 4652631 |
| &nbsp;&nbsp;&nbsp; Wonders Information Co. Ltd., A Shares <br> (China)<sup>(b)</sup><br>| 1108606 | &nbsp;&nbsp; 1075591 |
|  |  | &nbsp;&nbsp; 77031889 |
| **Media-0.80%** | **Media-0.80%** | **Media-0.80%** |
| China Literature Ltd. (China)<sup>(b)(c)(e)</sup> | 4653921 | &nbsp;&nbsp; 21308060 |
| &nbsp;&nbsp;&nbsp; NanJi E-Commerce Co. Ltd., A Shares <br> (China)<br>| 1851187 | &nbsp;&nbsp; 856892 |
| People.cn Co. Ltd., A Shares (China) | 877271 | &nbsp;&nbsp; 3085307 |
|  |  | &nbsp;&nbsp; 25250259 |
| **Semiconductors & Semiconductor Equipment-20.76%** | **Semiconductors & Semiconductor Equipment-20.76%** | **Semiconductors & Semiconductor Equipment-20.76%** |
| 3Peak, Inc., A Shares (China)<sup>(b)</sup> | 107477 | &nbsp;&nbsp; 3126602 |
| &nbsp;&nbsp;&nbsp; ACM Research (Shanghai), Inc., A Shares <br> (China)<br>| 179823 | &nbsp;&nbsp; 4871934 |
| &nbsp;&nbsp;&nbsp; Advanced Micro-Fabrication Equipment, <br> Inc., A Shares (China)<br>| 496091 | &nbsp;&nbsp; 24732579 |
| &nbsp;&nbsp;&nbsp; All Winner Technology Co. Ltd., A Shares <br> (China)<br>| 659034 | &nbsp;&nbsp; 4351553 |
| &nbsp;&nbsp;&nbsp; Amlogic Shanghai Co. Ltd., A Shares <br> (China)<sup>(b)</sup><br>| 336071 | &nbsp;&nbsp; 4244006 |
| &nbsp;&nbsp;&nbsp; ASR Microelectronics Co. Ltd., A Shares <br> (China)<sup>(b)</sup><br>| 334790 | &nbsp;&nbsp; 4266863 |
| Bestechnic (Shanghai) Co. Ltd. (China) | 134299 | &nbsp;&nbsp; 4262301 |
| &nbsp;&nbsp;&nbsp; Cambricon Technologies Corp. Ltd. <br> (China)<sup>(b)</sup><br>| 337442 | &nbsp;&nbsp; 61067144 |
| &nbsp;&nbsp;&nbsp; China Resources Microelectronics Ltd., A <br> Shares (China)<br>| 1009309 | &nbsp;&nbsp; 9258296 |
| GalaxyCore, Inc., A Shares (China) | 2009428 | &nbsp;&nbsp; 4656902 |
| &nbsp;&nbsp;&nbsp; GigaDevice Semiconductor, Inc., A Shares <br> (China)<br>| 531772 | &nbsp;&nbsp; 23981364 |
| &nbsp;&nbsp;&nbsp; Goke Microelectronics Co. Ltd., A Shares <br> (China)<br>| 172672 | &nbsp;&nbsp; 3520715 |
| &nbsp;&nbsp;&nbsp; Guobo Electronics Co. Ltd., A Shares <br> (China)<br>| 276259 | &nbsp;&nbsp; 5025834 |
| &nbsp;&nbsp;&nbsp; Hangzhou Chang Chuan Technology Co. <br> Ltd., A Shares (China)<br>| 504748 | &nbsp;&nbsp; 9254128 |
| &nbsp;&nbsp;&nbsp; Hangzhou Lion Microelectronics Co. Ltd., <br> A Shares (China)<sup>(b)</sup><br>| 532508 | &nbsp;&nbsp; 3253693 |
| &nbsp;&nbsp;&nbsp; Hangzhou Silan Microelectronics Co. Ltd., <br> A Shares (China)<br>| 1332206 | &nbsp;&nbsp; 6380225 |
| &nbsp;&nbsp;&nbsp; Hoyuan Green Energy Co. Ltd., A Shares <br> (China)<sup>(b)</sup><br>| 534955 | &nbsp;&nbsp; 2137674 |
| &nbsp;&nbsp;&nbsp; Hua Hong Semiconductor Ltd. <br> (China)<sup>(b)(e)</sup><br>| 8093749 | &nbsp;&nbsp; 119813786 |
| &nbsp;&nbsp;&nbsp; Hua Hong Semiconductor Ltd., A Shares <br> (China)<sup>(b)</sup><br>| 326459 | &nbsp;&nbsp; 7264082 |
| &nbsp;&nbsp;&nbsp; Hwatsing Technology Co. Ltd., A Shares <br> (China)<br>| 282350 | &nbsp;&nbsp; 7681698 |
| &nbsp;&nbsp;&nbsp; Hygon Information Technology Co. Ltd., A <br> Shares (China)<br>| 1860956 | &nbsp;&nbsp; 70464354 |
| &nbsp;&nbsp;&nbsp; Ingenic Semiconductor Co. Ltd., A Shares <br> (China)<br>| 385770 | &nbsp;&nbsp; 7957172 |
| JCET Group Co. Ltd., A Shares (China) | 1432827 | &nbsp;&nbsp; 10189969 |
| &nbsp;&nbsp;&nbsp; Jiangsu Pacific Quartz Co. Ltd., A Shares <br> (China)<br>| 426381 | &nbsp;&nbsp; 2437164 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Semiconductors & Semiconductor Equipment-(continued)** | **Semiconductors & Semiconductor Equipment-(continued)** | **Semiconductors & Semiconductor Equipment-(continued)** |
| &nbsp;&nbsp;&nbsp; Loongson Technology Corp. Ltd., A <br> Shares (China)<sup>(b)</sup><br>| 318762 | &nbsp;&nbsp; $7648876 |
| &nbsp;&nbsp;&nbsp; Montage Technology Co. Ltd., A Shares <br> (China)<br>| 916084 | &nbsp;&nbsp; 23911414 |
| &nbsp;&nbsp;&nbsp; National Silicon Industry Group Co. Ltd., A <br> Shares (China)<sup>(b)</sup><br>| 2199353 | &nbsp;&nbsp; 7089588 |
| &nbsp;&nbsp;&nbsp; NAURA Technology Group Co. Ltd., A <br> Shares (China)<br>| 576808 | &nbsp;&nbsp; 39384771 |
| &nbsp;&nbsp;&nbsp; Nexchip Semiconductor Corp., A Shares <br> (China)<br>| 1606231 | &nbsp;&nbsp; 8439099 |
| &nbsp;&nbsp;&nbsp; OmniVision Integrated Circuits Group, <br> Inc., A Shares (China)<br>| 974629 | &nbsp;&nbsp; 17011683 |
| Piotech, Inc., A Shares (China) | 224002 | &nbsp;&nbsp; 11350928 |
| &nbsp;&nbsp;&nbsp; Rockchip Electronics Co. Ltd., A Shares <br> (China)<br>| 335363 | &nbsp;&nbsp; 9211054 |
| &nbsp;&nbsp;&nbsp; Sanan Optoelectronics Co. Ltd., A Shares <br> (China)<br>| 3994613 | &nbsp;&nbsp; 9286145 |
| SG Micro Corp., A Shares (China) | 492834 | &nbsp;&nbsp; 5352734 |
| &nbsp;&nbsp;&nbsp; Shanghai Awinic Technology Co. Ltd., A <br> Shares (China)<br>| 180151 | &nbsp;&nbsp; 2129059 |
| &nbsp;&nbsp;&nbsp; Shanghai Fudan Microelectronics Group <br> Co. Ltd., A Shares (China)<br>| 430482 | &nbsp;&nbsp; 4951850 |
| &nbsp;&nbsp;&nbsp; Shanghai Fudan Microelectronics Group <br> Co. Ltd., H Shares (China)<br>| 3253967 | &nbsp;&nbsp; 21573211 |
| &nbsp;&nbsp;&nbsp; Shenzhen Goodix Technology Co. Ltd., A <br> Shares (China)<br>| 369691 | &nbsp;&nbsp; 4295707 |
| SICC Co. Ltd., A Shares (China)<sup>(b)</sup> | 344132 | &nbsp;&nbsp; 4305509 |
| &nbsp;&nbsp;&nbsp; Smartsens Technology (Shanghai) Co. <br> Ltd. (China)<br>| 321733 | &nbsp;&nbsp; 4472641 |
| &nbsp;&nbsp;&nbsp; StarPower Semiconductor Ltd., A Shares <br> (China)<br>| 189636 | &nbsp;&nbsp; 3019194 |
| &nbsp;&nbsp;&nbsp; Suzhou Centec Communications Co. Ltd. <br> (China)<sup>(b)</sup><br>| 220887 | &nbsp;&nbsp; 4924420 |
| &nbsp;&nbsp;&nbsp; Suzhou Novosense Microelectronics Co. <br> Ltd., A Shares (China)<sup>(b)</sup><br>| 112806 | &nbsp;&nbsp; 2999130 |
| &nbsp;&nbsp;&nbsp; Tianshui Huatian Technology Co. Ltd., A <br> Shares (China)<br>| 2531576 | &nbsp;&nbsp; 5510456 |
| &nbsp;&nbsp;&nbsp; TongFu Microelectronics Co. Ltd., A <br> Shares (China)<br>| 1215025 | &nbsp;&nbsp; 9136650 |
| &nbsp;&nbsp;&nbsp; Unigroup Guoxin Microelectronics Co. <br> Ltd., A Shares (China)<br>| 680285 | &nbsp;&nbsp; 8196678 |
| &nbsp;&nbsp;&nbsp; United Nova Technology Co. Ltd., A <br> Shares (China)<sup>(b)</sup><br>| 6711671 | &nbsp;&nbsp; 7327515 |
| &nbsp;&nbsp;&nbsp; Vanchip (Tianjin) Technology Co. Ltd., A <br> Shares (China)<sup>(b)</sup><br>| 288041 | &nbsp;&nbsp; 1670783 |
| &nbsp;&nbsp;&nbsp; Verisilicon Microelectronics (Shanghai) Co. <br> Ltd. (China)<sup>(b)</sup><br>| 420561 | &nbsp;&nbsp; 13356023 |
| &nbsp;&nbsp;&nbsp; Wuxi Autowell Technology Co. Ltd., A <br> Shares (China)<br>| 243945 | &nbsp;&nbsp; 3340056 |
| &nbsp;&nbsp;&nbsp; Yangzhou Yangjie Electronic Technology <br> Co. Ltd., A Shares (China)<br>| 434880 | &nbsp;&nbsp; 5420146 |
| &nbsp;&nbsp;&nbsp; Zhejiang Jingsheng Mechanical & <br> Electrical Co. Ltd., A Shares (China)<br>| 1048382 | &nbsp;&nbsp; 6727431 |
|  |  | &nbsp;&nbsp; 656242789 |
| **Software-12.17%** | **Software-12.17%** | **Software-12.17%** |
| &nbsp;&nbsp;&nbsp; 360 Security Technology, Inc., A Shares <br> (China)<br>| 5604318 | &nbsp;&nbsp; 9784340 |
| &nbsp;&nbsp;&nbsp; Beijing E-Hualu Information Technology <br> Co. Ltd., A Shares (China)<sup>(b)</sup><br>| 566608 | &nbsp;&nbsp; 1262838 |
| &nbsp;&nbsp;&nbsp; Beijing Kingsoft Office Software, Inc., A <br> Shares (China)<br>| 370962 | &nbsp;&nbsp; 17955850 |

---

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

------

**Invesco China Technology ETF (CQQQ)—(continued)**

January 31, 2026

*(Unaudited)*

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Software-(continued)** | **Software-(continued)** | **Software-(continued)** |
| &nbsp;&nbsp;&nbsp; Beijing Shiji Information Technology Co. <br> Ltd., A Shares (China)<br>| 1810600 | &nbsp;&nbsp; $3326311 |
| &nbsp;&nbsp;&nbsp; Business-intelligence of Oriental Nations <br> Corp. Ltd., A Shares (China)<sup>(b)</sup><br>| 890983 | &nbsp;&nbsp; 1386183 |
| &nbsp;&nbsp;&nbsp; China National Software & Service Co. <br> Ltd., A Shares (China)<sup>(b)</sup><br>| 747831 | &nbsp;&nbsp; 4857628 |
| &nbsp;&nbsp;&nbsp; Empyrean Technology Co. Ltd., A Shares <br> (China)<br>| 434485 | &nbsp;&nbsp; 6452795 |
| Horizon Robotics (China)<sup>(b)(c)</sup> | 97891827 | &nbsp;&nbsp; 102828422 |
| &nbsp;&nbsp;&nbsp; Hundsun Technologies, Inc., A Shares <br> (China)<br>| 1514734 | &nbsp;&nbsp; 6762214 |
| Iflytek Co. Ltd., A Shares (China) | 1850997 | &nbsp;&nbsp; 15852701 |
| &nbsp;&nbsp;&nbsp; Jiangsu Hoperun Software Co. Ltd. <br> (China)<br>| 637786 | &nbsp;&nbsp; 4577815 |
| &nbsp;&nbsp;&nbsp; Kingdee International Software Group Co. <br> Ltd. (China)<sup>(b)</sup><br>| 32502304 | &nbsp;&nbsp; 53701125 |
| &nbsp;&nbsp;&nbsp; Longshine Technology Group Co. Ltd., A <br> Shares (China)<br>| 854964 | &nbsp;&nbsp; 2127272 |
| Neusoft Corp., A Shares (China) | 937514 | &nbsp;&nbsp; 1412624 |
| &nbsp;&nbsp;&nbsp; Newland Digital Technology Co. Ltd., A <br> Shares (China)<br>| 811287 | &nbsp;&nbsp; 3183000 |
| &nbsp;&nbsp;&nbsp; Qi An Xin Technology Group, Inc. <br> (China)<sup>(b)</sup><br>| 548717 | &nbsp;&nbsp; 2935327 |
| &nbsp;&nbsp;&nbsp; Sangfor Technologies, Inc., A Shares <br> (China)<br>| 337796 | &nbsp;&nbsp; 7781222 |
| &nbsp;&nbsp;&nbsp; SenseTime Group, Inc., B Shares <br> (China)<sup>(b)(c)(e)</sup><br>| 316731726 | &nbsp;&nbsp; 99967495 |
| &nbsp;&nbsp;&nbsp; Shanghai Baosight Software Co. Ltd., A <br> Shares (China)<br>| 1729391 | &nbsp;&nbsp; 5681704 |
| &nbsp;&nbsp;&nbsp; Shanghai Baosight Software Co. Ltd., B <br> Shares (China)<br>| 8266229 | &nbsp;&nbsp; 8879889 |
| &nbsp;&nbsp;&nbsp; Shanghai Stonehill Technology Co. Ltd., A <br> Shares (China)<sup>(b)</sup><br>| 4548992 | &nbsp;&nbsp; 6400982 |
| &nbsp;&nbsp;&nbsp; Shenzhen Infogem Technologies Co. Ltd., <br> A Shares (China)<sup>(b)</sup><br>| 565740 | &nbsp;&nbsp; 3142207 |
| &nbsp;&nbsp;&nbsp; Shenzhen Kingdom Sci-Tech Co. Ltd., A <br> Shares (China)<sup>(b)</sup><br>| 739423 | &nbsp;&nbsp; 1651684 |
| Sinosoft Co. Ltd., A Shares (China) | 653966 | &nbsp;&nbsp; 1838800 |
| &nbsp;&nbsp;&nbsp; Thunder Software Technology Co. Ltd., A <br> Shares (China)<br>| 368176 | &nbsp;&nbsp; 3986657 |
| &nbsp;&nbsp;&nbsp; Topsec Technologies Group, Inc., A <br> Shares (China)<br>| 911596 | &nbsp;&nbsp; 1147055 |
| &nbsp;&nbsp;&nbsp; Yonyou Network Technology Co. Ltd., A <br> Shares (China)<sup>(b)</sup><br>| 2735840 | &nbsp;&nbsp; 5963226 |
|  |  | &nbsp;&nbsp; 384847366 |
| **Technology Hardware, Storage & Peripherals-1.78%** | **Technology Hardware, Storage & Peripherals-1.78%** | **Technology Hardware, Storage & Peripherals-1.78%** |
| &nbsp;&nbsp;&nbsp; China Greatwall Technology Group Co. <br> Ltd., A Shares (China)<sup>(b)</sup><br>| 2583012 | &nbsp;&nbsp; 5897347 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Technology Hardware, Storage & Peripherals-(continued)** | **Technology Hardware, Storage & Peripherals-(continued)** | **Technology Hardware, Storage & Peripherals-(continued)** |
| &nbsp;&nbsp;&nbsp; GRG Banking Equipment Co. Ltd., A <br> Shares (China)<br>| 1988537 | &nbsp;&nbsp; $3679680 |
| Huaqin Technology Co. Ltd. (China) | 703927 | &nbsp;&nbsp; 8726186 |
| IEIT Systems Co. Ltd., A Shares (China) | 1178600 | &nbsp;&nbsp; 10621530 |
| &nbsp;&nbsp;&nbsp; Legend Holdings Corp., H Shares <br> (China)<sup>(b)(e)</sup><br>| 6201374 | &nbsp;&nbsp; 6845699 |
| Ninestar Corp., A Shares (China)<sup>(b)</sup> | 1139141 | &nbsp;&nbsp; 3468259 |
| &nbsp;&nbsp;&nbsp; Shenzhen Longsys Electronics Co. Ltd., A <br> Shares (China)<sup>(b)</sup><br>| 278809 | &nbsp;&nbsp; 13369697 |
| &nbsp;&nbsp;&nbsp; Tsinghua Tongfang Co. Ltd., A Shares <br> (China)<sup>(b)</sup><br>| 2682372 | &nbsp;&nbsp; 3594593 |
|  |  | &nbsp;&nbsp; 56202991 |
| **Textiles, Apparel & Luxury Goods-0.12%** | **Textiles, Apparel & Luxury Goods-0.12%** | **Textiles, Apparel & Luxury Goods-0.12%** |
| &nbsp;&nbsp;&nbsp; Shijiazhuang Changshan BeiMing <br> Technology Co. Ltd., A Shares <br> (China)<sup>(b)</sup><br>| 1279714 | &nbsp;&nbsp; 3678563 |
| **Trading Companies & Distributors-0.07%** | **Trading Companies & Distributors-0.07%** | **Trading Companies & Distributors-0.07%** |
| &nbsp;&nbsp;&nbsp; Beijing United Information Technology Co. <br> Ltd., A Shares (China)<br>| 568265 | &nbsp;&nbsp; 2211259 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks & Other Equity Interests <br>(Cost $2,585,757,430) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks & Other Equity Interests <br>(Cost $2,585,757,430) | &nbsp;&nbsp; 3159136299 |
| **Money Market Funds-0.08%** |  |  |
| &nbsp;&nbsp;&nbsp; Invesco Government & Agency Portfolio, <br> Institutional Class, 3.61%<sup>(f)(g)</sup> <br>(Cost $2,461,939)<br>| 2461939 | &nbsp;&nbsp; 2461939 |
| &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES <br>(excluding investments purchased with cash collateral <br> from securities on loan)-100.03% <br>(Cost $2,588,219,369) | &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES <br>(excluding investments purchased with cash collateral <br> from securities on loan)-100.03% <br>(Cost $2,588,219,369) | &nbsp;&nbsp; 3161598238 |
| **Investments Purchased with Cash Collateral** <br>**from Securities on Loan** | **Investments Purchased with Cash Collateral** <br>**from Securities on Loan** | **Investments Purchased with Cash Collateral** <br>**from Securities on Loan** |
| **Money Market Funds-8.16%** | **Money Market Funds-8.16%** | **Money Market Funds-8.16%** |
| &nbsp;&nbsp;&nbsp; Invesco Private Government Fund, <br> 3.65%<sup>(f)(g)(h)</sup><br>| 71710000 | &nbsp;&nbsp; 71710000 |
| Invesco Private Prime Fund, 3.80%<sup>(f)(g)(h)</sup> | 186292118 | &nbsp;&nbsp; 186348006 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Investments Purchased with Cash Collateral from <br> Securities on Loan <br>(Cost $258,058,006) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Investments Purchased with Cash Collateral from <br> Securities on Loan <br>(Cost $258,058,006) | &nbsp;&nbsp; 258058006 |
| &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES-108.19% <br>(Cost $2,846,277,375) | &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES-108.19% <br>(Cost $2,846,277,375) | &nbsp;&nbsp; 3419656244 |
| OTHER ASSETS LESS LIABILITIES-(8.19)% | OTHER ASSETS LESS LIABILITIES-(8.19)% | &nbsp;&nbsp; (258824639)<br>|
| NET ASSETS-100.00% | NET ASSETS-100.00% | &nbsp;&nbsp; $3160831605 |

---

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

------

**Invesco China Technology ETF (CQQQ)—(continued)**

January 31, 2026

*(Unaudited)*

Investment Abbreviations: <br> ADR -American Depositary Receipt

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

---

| | |
|:---|:---|
| Notes to Schedule of Investments: | Notes to Schedule of Investments: |
| <sup>(a)</sup> | Industry and/or sector classifications used in this report are generally according to the Global Industry Classification Standard, which was developed by and is <br> the exclusive property and a service mark of MSCI Inc. and Standard & Poor's.<br>|
| <sup>(b)</sup> | Non-income producing security. |
| <sup>(c)</sup> | All or a portion of this security was out on loan at January 31, 2026. |
| <sup>(d)</sup> | Security valued using significant unobservable inputs (Level 3). See Note 1. |
| <sup>(e)</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 $714,323,963, which represented 22.60% of the Fund's Net Assets.<br>|
| <sup>(f)</sup> | Affiliated holding. Affiliated holdings are investments in entities which are under common ownership or control of Invesco Ltd. or are investments in entities in <br> which the Fund owns 5% or more of the outstanding voting securities. The table below shows the Fund's transactions in, and earnings from, its investments in <br> affiliates for the three months ended 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; $940970 | &nbsp;&nbsp;&nbsp; $249685181 | &nbsp;&nbsp;&nbsp; $(248164212)<br>| &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $2461939 | &nbsp;&nbsp;&nbsp; $78226 |
| **Investments** <br> **Purchased with Cash** <br> **Collateral from** <br> **Securities on Loan:**<br>|  |  |  |  |  |  |  |
| &nbsp;&nbsp; Invesco Private <br> Government Fund<br>| &nbsp;&nbsp;&nbsp; 53202496 | &nbsp;&nbsp;&nbsp; 96734019 | &nbsp;&nbsp;&nbsp; (78226515)<br>| &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; 71710000 | &nbsp;&nbsp;&nbsp; 387,871<br> \*<br>|
| &nbsp;&nbsp; Invesco Private Prime <br> Fund<br>| &nbsp;&nbsp;&nbsp; 138564622 | &nbsp;&nbsp;&nbsp; 237661151 | &nbsp;&nbsp;&nbsp; (189877767)<br>| &nbsp;&nbsp;&nbsp; 733 | &nbsp;&nbsp;&nbsp; (733)<br>| &nbsp;&nbsp;&nbsp; 186348006 | &nbsp;&nbsp;&nbsp; 1,044,118<br> \*<br>|
| &nbsp;&nbsp; Total | &nbsp;&nbsp;&nbsp; $192708088 | &nbsp;&nbsp;&nbsp; $584080351 | &nbsp;&nbsp;&nbsp; $(516268494)<br>| &nbsp;&nbsp;&nbsp; $733 | &nbsp;&nbsp;&nbsp; $(733)<br>| &nbsp;&nbsp;&nbsp; $260519945 | &nbsp;&nbsp;&nbsp; $1510215 |

---

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

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

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

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

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

---

| | |
|:---|:---|
| This Fund has holdings greater than 10% of net assets in the following country: |  |
| China | 99.95% |

---

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 Dorsey Wright Developed Markets Momentum ETF (PIZ)**

January 31, 2026

*(Unaudited)*

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

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Common Stocks & Other Equity Interests-99.98%** | **Common Stocks & Other Equity Interests-99.98%** | **Common Stocks & Other Equity Interests-99.98%** |
| **Australia-3.12%** | **Australia-3.12%** | **Australia-3.12%** |
| Mineral Resources Ltd.<sup>(a)(b)</sup> | 80295 | &nbsp;&nbsp; $3177488 |
| OceanaGold Corp. | 133579 | &nbsp;&nbsp; 4352181 |
| PLS Group Ltd.<sup>(a)(b)</sup> | 1112176 | &nbsp;&nbsp; 3283007 |
| Ramelius Resources Ltd. | 1261078 | &nbsp;&nbsp; 3907312 |
| Wesfarmers Ltd. | 58702 | &nbsp;&nbsp; 3406743 |
|  |  | &nbsp;&nbsp; 18126731 |
| **Austria-1.83%** | **Austria-1.83%** | **Austria-1.83%** |
| BAWAG Group AG<sup>(a)(c)</sup> | 23875 | &nbsp;&nbsp; 3897980 |
| Erste Group Bank AG | 26132 | &nbsp;&nbsp; 3409720 |
| Raiffeisen Bank International AG | 65819 | &nbsp;&nbsp; 3329676 |
|  |  | &nbsp;&nbsp; 10637376 |
| **Canada-15.09%** | **Canada-15.09%** | **Canada-15.09%** |
| Alamos Gold, Inc., Class A | 89049 | &nbsp;&nbsp; 3318253 |
| Aritzia, Inc.<sup>(a)</sup> | 35966 | &nbsp;&nbsp; 2850667 |
| Bombardier, Inc., Class B<sup>(a)</sup> | 85592 | &nbsp;&nbsp; 14702622 |
| Dollarama, Inc. | 92725 | &nbsp;&nbsp; 12565105 |
| DPM Metals, Inc. | 106466 | &nbsp;&nbsp; 3735332 |
| Element Fleet Management Corp. | 208100 | &nbsp;&nbsp; 5301813 |
| Finning International, Inc. | 54071 | &nbsp;&nbsp; 3409609 |
| IAMGOLD Corp.<sup>(a)</sup> | 281459 | &nbsp;&nbsp; 5135954 |
| Imperial Oil Ltd. | 48105 | &nbsp;&nbsp; 4887055 |
| Kinross Gold Corp. | 177106 | &nbsp;&nbsp; 5608171 |
| Loblaw Cos. Ltd. | 65097 | &nbsp;&nbsp; 2945385 |
| Lundin Gold, Inc. | 69624 | &nbsp;&nbsp; 5248472 |
| Pan American Silver Corp.<sup>(b)</sup> | 56829 | &nbsp;&nbsp; 3113498 |
| Royal Bank of Canada | 66309 | &nbsp;&nbsp; 11101855 |
| Toromont Industries Ltd. | 30312 | &nbsp;&nbsp; 3882595 |
|  |  | &nbsp;&nbsp; 87806386 |
| **China-1.67%** | **China-1.67%** | **China-1.67%** |
| MMG Ltd.<sup>(a)</sup> | 2921099 | &nbsp;&nbsp; 3783110 |
| Yangzijiang Shipbuilding Holdings Ltd. | 2265917 | &nbsp;&nbsp; 5965545 |
|  |  | &nbsp;&nbsp; 9748655 |
| **Denmark-2.52%** | **Denmark-2.52%** | **Denmark-2.52%** |
| Jyske Bank A/S | 21315 | &nbsp;&nbsp; 3113337 |
| Ringkjoebing Landbobank A/S | 29779 | &nbsp;&nbsp; 7534609 |
| Sydbank A/S | 44016 | &nbsp;&nbsp; 4000986 |
|  |  | &nbsp;&nbsp; 14648932 |
| **Finland-3.62%** | **Finland-3.62%** | **Finland-3.62%** |
| Konecranes OYJ | 32763 | &nbsp;&nbsp; 3872242 |
| Sampo OYJ | 1246469 | &nbsp;&nbsp; 13951449 |
| Wartsila OYJ Abp | 80191 | &nbsp;&nbsp; 3262743 |
|  |  | &nbsp;&nbsp; 21086434 |
| **France-0.56%** | **France-0.56%** | **France-0.56%** |
| Nexans S.A. | 20701 | &nbsp;&nbsp; 3272496 |
| **Georgia-1.85%** | **Georgia-1.85%** | **Georgia-1.85%** |
| Lion Finance Group PLC | 77859 | &nbsp;&nbsp; 10787617 |
| **Germany-6.12%** | **Germany-6.12%** | **Germany-6.12%** |
| Allianz SE | 7273 | &nbsp;&nbsp; 3214082 |
| Bilfinger SE | 38388 | &nbsp;&nbsp; 5398011 |
| Heidelberg Materials AG | 12772 | &nbsp;&nbsp; 3510568 |
| HOCHTIEF AG | 12595 | &nbsp;&nbsp; 5300811 |
| Siemens Energy AG, Class A<sup>(a)</sup> | 82884 | &nbsp;&nbsp; 14173019 |
| thyssenkrupp AG | 300082 | &nbsp;&nbsp; 4014829 |
|  |  | &nbsp;&nbsp; 35611320 |
| **Greece-3.92%** | **Greece-3.92%** | **Greece-3.92%** |
| Eurobank S.A. | 743406 | &nbsp;&nbsp; 3646190 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Greece-(continued)** | **Greece-(continued)** | **Greece-(continued)** |
| National Bank of Greece S.A. | 635587 | &nbsp;&nbsp; $11261646 |
| Piraeus Bank S.A.<sup>(a)</sup> | 782310 | &nbsp;&nbsp; 7920049 |
|  |  | &nbsp;&nbsp; 22827885 |
| **Ireland-2.63%** | **Ireland-2.63%** | **Ireland-2.63%** |
| AIB Group PLC<sup>(a)</sup> | 628952 | &nbsp;&nbsp; 7056023 |
| Bank of Ireland Group PLC | 404664 | &nbsp;&nbsp; 8251577 |
|  |  | &nbsp;&nbsp; 15307600 |
| **Israel-4.48%** | **Israel-4.48%** | **Israel-4.48%** |
| Bank Hapoalim B.M. | 156419 | &nbsp;&nbsp; 3878476 |
| First International Bank of Israel Ltd. (The) | 106829 | &nbsp;&nbsp; 9097124 |
| &nbsp;&nbsp;&nbsp; Harel Insurance Investments & Financial <br> Services Ltd.<br>| 101486 | &nbsp;&nbsp; 4668936 |
| Israel Discount Bank Ltd., Class A | 345418 | &nbsp;&nbsp; 4081676 |
| Mizrahi Tefahot Bank Ltd. | 55139 | &nbsp;&nbsp; 4326382 |
|  |  | &nbsp;&nbsp; 26052594 |
| **Italy-5.88%** | **Italy-5.88%** | **Italy-5.88%** |
| Banca Mediolanum S.p.A. | 124801 | &nbsp;&nbsp; 2938230 |
| BPER Banca S.p.A. | 621754 | &nbsp;&nbsp; 8788205 |
| Intesa Sanpaolo S.p.A. | 427256 | &nbsp;&nbsp; 3035686 |
| Prysmian S.p.A. | 31438 | &nbsp;&nbsp; 3737133 |
| UniCredit S.p.A. | 98179 | &nbsp;&nbsp; 8586954 |
| Unipol Assicurazioni S.p.A. | 317945 | &nbsp;&nbsp; 7106892 |
|  |  | &nbsp;&nbsp; 34193100 |
| **Japan-5.50%** | **Japan-5.50%** | **Japan-5.50%** |
| Advantest Corp. | 42799 | &nbsp;&nbsp; 7101324 |
| Gunma Bank Ltd. (The) | 250068 | &nbsp;&nbsp; 3158488 |
| Hitachi Ltd. | 108388 | &nbsp;&nbsp; 3773269 |
| IHI Corp. | 240105 | &nbsp;&nbsp; 5573121 |
| ITOCHU Corp. | 471796 | &nbsp;&nbsp; 6059781 |
| Mitsui & Co. Ltd. | 101648 | &nbsp;&nbsp; 3331098 |
| NEC Corp. | 88160 | &nbsp;&nbsp; 2998281 |
|  |  | &nbsp;&nbsp; 31995362 |
| **Mexico-1.22%** | **Mexico-1.22%** | **Mexico-1.22%** |
| Fresnillo PLC | 143320 | &nbsp;&nbsp; 7078140 |
| **Netherlands-1.27%** | **Netherlands-1.27%** | **Netherlands-1.27%** |
| ING Groep N.V. | 110659 | &nbsp;&nbsp; 3275276 |
| Koninklijke Ahold Delhaize N.V. | 104832 | &nbsp;&nbsp; 4113819 |
|  |  | &nbsp;&nbsp; 7389095 |
| **Norway-0.54%** | **Norway-0.54%** | **Norway-0.54%** |
| SpareBank 1 Sør-Norge ASA, Class B | 155227 | &nbsp;&nbsp; 3139513 |
| **Portugal-1.18%** | **Portugal-1.18%** | **Portugal-1.18%** |
| Banco Comercial Portugues S.A., Class R | 6319364 | &nbsp;&nbsp; 6864918 |
| **Singapore-1.07%** | **Singapore-1.07%** | **Singapore-1.07%** |
| DBS Group Holdings Ltd. | 65968 | &nbsp;&nbsp; 3073839 |
| Keppel Ltd. | 363332 | &nbsp;&nbsp; 3133319 |
|  |  | &nbsp;&nbsp; 6207158 |
| **South Korea-4.95%** | **South Korea-4.95%** | **South Korea-4.95%** |
| ABLBio, Inc.<sup>(a)</sup> | 56915 | &nbsp;&nbsp; 7766492 |
| APR Co., Ltd.<sup>(a)</sup> | 22898 | &nbsp;&nbsp; 4291840 |
| &nbsp;&nbsp;&nbsp; HD Korea Shipbuilding & Offshore Engineering <br> Co. Ltd.<br>| 10431 | &nbsp;&nbsp; 2987792 |
| SK hynix, Inc. | 9221 | &nbsp;&nbsp; 5757384 |
| SK Square Co. Ltd.<sup>(a)</sup> | 20356 | &nbsp;&nbsp; 7968385 |
|  |  | &nbsp;&nbsp; 28771893 |

---

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

------

**Invesco Dorsey Wright Developed Markets Momentum ETF (PIZ)—(continued)**

January 31, 2026

*(Unaudited)*

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Spain-5.16%** | **Spain-5.16%** | **Spain-5.16%** |
| &nbsp;&nbsp;&nbsp; ACS Actividades de Construccion y Servicios <br> S.A.<br>| 36192 | &nbsp;&nbsp; $4075339 |
| Banco Bilbao Vizcaya Argentaria S.A. | 269818 | &nbsp;&nbsp; 6873821 |
| Banco Santander S.A. | 246117 | &nbsp;&nbsp; 3153840 |
| Bankinter S.A. | 170319 | &nbsp;&nbsp; 2917890 |
| CaixaBank S.A. | 379633 | &nbsp;&nbsp; 5029408 |
| Iberdrola S.A. | 132435 | &nbsp;&nbsp; 2988306 |
| Indra Sistemas S.A.<sup>(b)</sup> | 76750 | &nbsp;&nbsp; 4978656 |
|  |  | &nbsp;&nbsp; 30017260 |
| **Sweden-1.99%** | **Sweden-1.99%** | **Sweden-1.99%** |
| Investor AB, Class B | 298298 | &nbsp;&nbsp; 11574064 |
| **Switzerland-12.72%** | **Switzerland-12.72%** | **Switzerland-12.72%** |
| ABB Ltd. | 219982 | &nbsp;&nbsp; 19013818 |
| BKW AG<sup>(a)</sup> | 17201 | &nbsp;&nbsp; 3264714 |
| Flughafen Zureich AG<sup>(a)</sup> | 49742 | &nbsp;&nbsp; 15509123 |
| Geberit AG | 16239 | &nbsp;&nbsp; 12448259 |
| Schindler Holding AG, PC | 32641 | &nbsp;&nbsp; 12643353 |
| Swiss Life Holding AG | 7586 | &nbsp;&nbsp; 8350862 |
| Zurich Insurance Group AG | 3868 | &nbsp;&nbsp; 2762501 |
|  |  | &nbsp;&nbsp; 73992630 |
| **Turkey-0.67%** | **Turkey-0.67%** | **Turkey-0.67%** |
| Eldorado Gold Corp.<sup>(a)</sup> | 89913 | &nbsp;&nbsp; 3878977 |
| **United Kingdom-8.39%** | **United Kingdom-8.39%** | **United Kingdom-8.39%** |
| Barclays PLC | 478007 | &nbsp;&nbsp; 3199346 |
| Centrica PLC | 1265851 | &nbsp;&nbsp; 3324094 |
| Diploma PLC | 182785 | &nbsp;&nbsp; 13354151 |
| Halma PLC | 193862 | &nbsp;&nbsp; 9442448 |
| HSBC Holdings PLC | 181498 | &nbsp;&nbsp; 3210921 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **United Kingdom-(continued)** | **United Kingdom-(continued)** | **United Kingdom-(continued)** |
| NatWest Group PLC | 515441 | &nbsp;&nbsp; $4711529 |
| Rolls-Royce Holdings PLC | 688662 | &nbsp;&nbsp; 11545169 |
|  |  | &nbsp;&nbsp; 48787658 |
| **United States-2.03%** | **United States-2.03%** | **United States-2.03%** |
| Ferrovial SE | 80626 | &nbsp;&nbsp; 5465650 |
| Holcim AG<sup>(a)</sup> | 29426 | &nbsp;&nbsp; 3044720 |
| Novartis AG | 22092 | &nbsp;&nbsp; 3290556 |
|  |  | &nbsp;&nbsp; 11800926 |
| &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES <br>(excluding investments purchased with cash collateral <br> from securities on loan)-99.98% <br>(Cost $478,341,292) | &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES <br>(excluding investments purchased with cash collateral <br> from securities on loan)-99.98% <br>(Cost $478,341,292) | &nbsp;&nbsp; 581604720 |
| **Investments Purchased with Cash Collateral from Securities** <br> **on Loan** | **Investments Purchased with Cash Collateral from Securities** <br> **on Loan** | **Investments Purchased with Cash Collateral from Securities** <br> **on Loan** |
| **Money Market Funds-2.05%** | **Money Market Funds-2.05%** | **Money Market Funds-2.05%** |
| &nbsp;&nbsp;&nbsp; Invesco Private Government Fund, <br> 3.65%<sup>(d)(e)(f)</sup><br>| 3288525 | &nbsp;&nbsp; 3288525 |
| Invesco Private Prime Fund, 3.80%<sup>(d)(e)(f)</sup> | 8631151 | &nbsp;&nbsp; 8633740 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Investments Purchased with Cash Collateral from <br> Securities on Loan <br>(Cost $11,922,265) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Investments Purchased with Cash Collateral from <br> Securities on Loan <br>(Cost $11,922,265) | &nbsp;&nbsp; 11922265 |
| &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES-102.03% <br>(Cost $490,263,557) | &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES-102.03% <br>(Cost $490,263,557) | &nbsp;&nbsp; 593526985 |
| OTHER ASSETS LESS LIABILITIES-(2.03)% | OTHER ASSETS LESS LIABILITIES-(2.03)% | &nbsp;&nbsp; (11795482)<br>|
| NET ASSETS-100.00% | NET ASSETS-100.00% | &nbsp;&nbsp; $581731503 |

---

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

Investment Abbreviations: <br> PC-Participation Certificate

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

---

| | |
|:---|:---|
| Notes to Schedule of Investments: | Notes to Schedule of Investments: |
| <sup>(a)</sup> | Non-income producing security. |
| <sup>(b)</sup> | All or a portion of this security was out on loan at January 31, 2026. |
| <sup>(c)</sup> | Security purchased or received in a transaction exempt from registration under the Securities Act of 1933, as amended (the "1933 Act"). The security may be <br> resold pursuant to an exemption from registration under the 1933 Act, typically to qualified institutional buyers. The value of this security at January 31, 2026 <br> represented less than 1% of the Fund's Net Assets.<br>|
| <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** <br> **Affiliated Money** <br> **Market Funds:**<br>|  |  |  |  |  |  |  |
| &nbsp;&nbsp; Invesco Government & <br> Agency Portfolio, <br> Institutional Class<br>| &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $4448446 | &nbsp;&nbsp;&nbsp; $(4448446)<br>| &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $2311 |

---

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

------

**Invesco Dorsey Wright Developed Markets Momentum ETF (PIZ)—(continued)**

January 31, 2026

*(Unaudited)*

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **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** <br> **Purchased with Cash** <br> **Collateral from** <br> **Securities on Loan:**<br>|  |  |  |  |  |  |  |
| &nbsp;&nbsp; Invesco Private <br> Government Fund<br>| &nbsp;&nbsp;&nbsp; $5185236 | &nbsp;&nbsp;&nbsp; $37999920 | &nbsp;&nbsp;&nbsp; $(39896631)<br>| &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $3288525 | &nbsp;&nbsp;&nbsp; $38,300<br> \*<br>|
| &nbsp;&nbsp; Invesco Private Prime <br> Fund<br>| &nbsp;&nbsp;&nbsp; 13452730 | &nbsp;&nbsp;&nbsp; 63282839 | &nbsp;&nbsp;&nbsp; (68101828)<br>| &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; (1)<br>| &nbsp;&nbsp;&nbsp; 8633740 | &nbsp;&nbsp;&nbsp; 106,205<br> \*<br>|
| &nbsp;&nbsp; Total | &nbsp;&nbsp;&nbsp; $18637966 | &nbsp;&nbsp;&nbsp; $105731205 | &nbsp;&nbsp;&nbsp; $(112446905)<br>| &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $(1)<br>| &nbsp;&nbsp;&nbsp; $11922265 | &nbsp;&nbsp;&nbsp; $146816 |

---

&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.

------

Schedule of Investments

**Invesco Dorsey Wright Emerging Markets Momentum ETF (PIE)**

January 31, 2026

*(Unaudited)*

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

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Common Stocks & Other Equity Interests-99.82%** | **Common Stocks & Other Equity Interests-99.82%** | **Common Stocks & Other Equity Interests-99.82%** |
| **Brazil-6.82%** | **Brazil-6.82%** | **Brazil-6.82%** |
| &nbsp;&nbsp;&nbsp; Cia de Saneamento Basico do Estado de Sao <br> Paulo SABESP<br>| 48432 | &nbsp;&nbsp; $1306370 |
| &nbsp;&nbsp;&nbsp; Cia de Saneamento de Minas Gerais COPASA <br> MG<br>| 80300 | &nbsp;&nbsp; 784510 |
| Cia Paranaense de Energia | 268157 | &nbsp;&nbsp; 675060 |
| Cogna Educacao S.A. | 1611000 | &nbsp;&nbsp; 1400053 |
| Cury Construtora e Incorporadora S.A. | 328100 | &nbsp;&nbsp; 2165170 |
| Direcional Engenharia S.A. | 663057 | &nbsp;&nbsp; 1766700 |
| &nbsp;&nbsp;&nbsp; Itau Unibanco Holding S.A., Preference <br> Shares<br>| 92890 | &nbsp;&nbsp; 807271 |
|  |  | &nbsp;&nbsp; 8905134 |
| **China-16.87%** | **China-16.87%** | **China-16.87%** |
| Aluminum Corp. of China Ltd., H Shares | 460000 | &nbsp;&nbsp; 803440 |
| China Coal Energy Co. Ltd., H Shares | 1224000 | &nbsp;&nbsp; 1791963 |
| China Hongqiao Group Ltd. | 375672 | &nbsp;&nbsp; 1718729 |
| China Life Insurance Co. Ltd., H Shares | 186000 | &nbsp;&nbsp; 827999 |
| China Nonferrous Mining Corp. Ltd. | 980475 | &nbsp;&nbsp; 1943961 |
| China Shenhua Energy Co. Ltd., H Shares<sup>(a)</sup> | 343000 | &nbsp;&nbsp; 1887804 |
| CMOC Group Ltd., H Shares | 303000 | &nbsp;&nbsp; 851863 |
| Dongfang Electric Corp. Ltd., H Shares<sup>(a)</sup> | 246400 | &nbsp;&nbsp; 803319 |
| Dongfeng Motor Group Co. Ltd., H Shares<sup>(b)</sup> | 905738 | &nbsp;&nbsp; 1047409 |
| &nbsp;&nbsp;&nbsp; Fuyao Glass Industry Group Co. Ltd., H <br> Shares<sup>(c)</sup><br>| 75128 | &nbsp;&nbsp; 644159 |
| JD Health International, Inc.<sup>(b)(c)</sup> | 87029 | &nbsp;&nbsp; 700419 |
| New China Life Insurance Co. Ltd., H Shares | 142300 | &nbsp;&nbsp; 1157458 |
| &nbsp;&nbsp;&nbsp; People's Insurance Co. (Group) of China Ltd. <br> (The), H Shares<br>| 1219104 | &nbsp;&nbsp; 1060374 |
| PetroChina Co. Ltd., H Shares | 1426235 | &nbsp;&nbsp; 1694830 |
| PICC Property & Casualty Co. Ltd., H Shares | 425986 | &nbsp;&nbsp; 882146 |
| Sinotrans Ltd., H Shares | 1962000 | &nbsp;&nbsp; 1302173 |
| Sinotruk Hong Kong Ltd. | 219500 | &nbsp;&nbsp; 1008293 |
| Zijin Mining Group Co. Ltd., H Shares | 215452 | &nbsp;&nbsp; 1123717 |
| &nbsp;&nbsp;&nbsp; Zoomlion Heavy Industry Science and <br> Technology Co. Ltd., H Shares<sup>(a)</sup><br>| 680400 | &nbsp;&nbsp; 763549 |
|  |  | &nbsp;&nbsp; 22013605 |
| **Hungary-1.08%** | **Hungary-1.08%** | **Hungary-1.08%** |
| OTP Bank Nyrt. | 11167 | &nbsp;&nbsp; 1412672 |
| **Indonesia-3.31%** | **Indonesia-3.31%** | **Indonesia-3.31%** |
| PT Bumi Resources Minerals Tbk<sup>(b)</sup> | 11705798 | &nbsp;&nbsp; 742750 |
| PT Bumi Resources Tbk<sup>(b)</sup> | 54035510 | &nbsp;&nbsp; 833241 |
| PT Energi Mega Persada Tbk.<sup>(b)</sup> | 23254178 | &nbsp;&nbsp; 1815771 |
| PT Petrosea Tbk | 2176498 | &nbsp;&nbsp; 921664 |
|  |  | &nbsp;&nbsp; 4313426 |
| **Malaysia-1.11%** | **Malaysia-1.11%** | **Malaysia-1.11%** |
| AMMB Holdings Bhd. | 431200 | &nbsp;&nbsp; 705232 |
| Telekom Malaysia Bhd. | 369991 | &nbsp;&nbsp; 742150 |
|  |  | &nbsp;&nbsp; 1447382 |
| **Mexico-7.46%** | **Mexico-7.46%** | **Mexico-7.46%** |
| Fibra Uno Administracion S.A. de C.V.<sup>(a)</sup> | 431401 | &nbsp;&nbsp; 675937 |
| Gentera S.A.B. de C.V. | 1013521 | &nbsp;&nbsp; 2848282 |
| &nbsp;&nbsp;&nbsp; Grupo Aeroportuario del Pacifico S.A.B. de <br> C.V., Class B<sup>(a)</sup><br>| 45441 | &nbsp;&nbsp; 1256903 |
| Grupo Mexico S.A.B. de C.V., Class B | 140556 | &nbsp;&nbsp; 1572312 |
| Industrias Penoles S.A.B. de C.V.<sup>(b)</sup> | 17490 | &nbsp;&nbsp; 1021149 |
| Prologis Property Mexico S.A. de C.V. | 158711 | &nbsp;&nbsp; 734680 |
| Qualitas Controladora S.A.B. de C.V.<sup>(a)</sup> | 172312 | &nbsp;&nbsp; 1619119 |
|  |  | &nbsp;&nbsp; 9728382 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Peru-0.78%** | **Peru-0.78%** | **Peru-0.78%** |
| Credicorp Ltd. | 2841 | &nbsp;&nbsp; $1013754 |
| **Philippines-1.29%** | **Philippines-1.29%** | **Philippines-1.29%** |
| &nbsp;&nbsp;&nbsp; International Container Terminal Services, <br> Inc.<br>| 154124 | &nbsp;&nbsp; 1688112 |
| **South Africa-9.64%** | **South Africa-9.64%** | **South Africa-9.64%** |
| Capitec Bank Holdings Ltd. | 2760 | &nbsp;&nbsp; 746414 |
| DRDGOLD Ltd. | 334757 | &nbsp;&nbsp; 1052865 |
| FirstRand Ltd. | 120043 | &nbsp;&nbsp; 689671 |
| Harmony Gold Mining Co. Ltd. | 31115 | &nbsp;&nbsp; 665942 |
| Impala Platinum Holdings Ltd. | 67034 | &nbsp;&nbsp; 1258521 |
| Momentum Group Ltd. | 307429 | &nbsp;&nbsp; 721084 |
| Northam Platinum Holdings Ltd.<sup>(a)</sup> | 40156 | &nbsp;&nbsp; 963670 |
| PSG Financial Services Ltd. | 598046 | &nbsp;&nbsp; 1015526 |
| Resilient REIT Ltd. | 161432 | &nbsp;&nbsp; 810274 |
| Sibanye Stillwater Ltd.<sup>(a)(b)</sup> | 299926 | &nbsp;&nbsp; 1314863 |
| Tiger Brands Ltd. | 29086 | &nbsp;&nbsp; 609089 |
| Valterra Platinum Ltd. | 8157 | &nbsp;&nbsp; 738204 |
| Vukile Property Fund Ltd. | 1296485 | &nbsp;&nbsp; 1997693 |
|  |  | &nbsp;&nbsp; 12583816 |
| **Taiwan-45.76%** | **Taiwan-45.76%** | **Taiwan-45.76%** |
| Accton Technology Corp. | 92992 | &nbsp;&nbsp; 3251303 |
| Advanced Energy Solution Holding Co. Ltd. | 15000 | &nbsp;&nbsp; 530250 |
| ASE Technology Holding Co. Ltd. | 114458 | &nbsp;&nbsp; 1064129 |
| Asia Vital Components Co. Ltd. | 18370 | &nbsp;&nbsp; 834595 |
| Bizlink Holding, Inc. | 37052 | &nbsp;&nbsp; 1504729 |
| Caliway Biopharmaceuticals Co. Ltd.<sup>(b)</sup> | 553000 | &nbsp;&nbsp; 2890621 |
| Chenbro Micom Co. Ltd. | 37886 | &nbsp;&nbsp; 1081158 |
| Chroma ATE, Inc. | 30338 | &nbsp;&nbsp; 931571 |
| CTBC Financial Holding Co. Ltd. | 450438 | &nbsp;&nbsp; 725721 |
| Delta Electronics, Inc. | 23439 | &nbsp;&nbsp; 894487 |
| Elite Material Co. Ltd. | 17649 | &nbsp;&nbsp; 957327 |
| EZconn Corp. | 21000 | &nbsp;&nbsp; 1170037 |
| Fortune Electric Co. Ltd. | 27000 | &nbsp;&nbsp; 824077 |
| Fositek Corp. | 17000 | &nbsp;&nbsp; 756285 |
| Fubon Financial Holding Co. Ltd. | 209000 | &nbsp;&nbsp; 600160 |
| Global Brands Manufacture Ltd. | 641000 | &nbsp;&nbsp; 2185202 |
| Gold Circuit Electronics Ltd. | 46894 | &nbsp;&nbsp; 1024026 |
| Hua Nan Financial Holdings Co. Ltd. | 703399 | &nbsp;&nbsp; 737887 |
| Jentech Precision Industrial Co. Ltd. | 8164 | &nbsp;&nbsp; 723333 |
| King Yuan Electronics Co. Ltd. | 97000 | &nbsp;&nbsp; 898721 |
| L&K Engineering Co. Ltd. | 38000 | &nbsp;&nbsp; 686129 |
| Mega Union Technology, Inc. | 77275 | &nbsp;&nbsp; 1708514 |
| Nan Ya Printed Circuit Board Corp. | 86000 | &nbsp;&nbsp; 1047417 |
| Nanya Technology Corp.<sup>(b)</sup> | 285242 | &nbsp;&nbsp; 2887431 |
| &nbsp;&nbsp;&nbsp; Powerchip Semiconductor Manufacturing <br> Corp.<sup>(b)</sup><br>| 561000 | &nbsp;&nbsp; 1203665 |
| Sigurd Microelectronics Corp. | 737935 | &nbsp;&nbsp; 3025307 |
| SinoPac Financial Holdings Co. Ltd. | 1430433 | &nbsp;&nbsp; 1295663 |
| Supreme Electronics Co. Ltd. | 1012000 | &nbsp;&nbsp; 2688566 |
| Taiwan Glass Industry Corp.<sup>(b)</sup> | 597000 | &nbsp;&nbsp; 902249 |
| &nbsp;&nbsp;&nbsp; Taiwan Semiconductor Manufacturing Co. <br> Ltd.<br>| 69446 | &nbsp;&nbsp; 3840082 |
| Topco Scientific Co. Ltd. | 322467 | &nbsp;&nbsp; 3273922 |
| Transcend Information, Inc. | 116000 | &nbsp;&nbsp; 965733 |
| Unimicron Technology Corp. | 97000 | &nbsp;&nbsp; 1153022 |
| United Integrated Services Co. Ltd. | 106000 | &nbsp;&nbsp; 3022715 |
| Winbond Electronics Corp.<sup>(b)</sup> | 601000 | &nbsp;&nbsp; 2376560 |
| WinWay Technology Co. Ltd. | 9000 | &nbsp;&nbsp; 1106370 |
| Wiwynn Corp. | 4700 | &nbsp;&nbsp; 526833 |
| Yageo Corp. | 99000 | &nbsp;&nbsp; 864308 |

---

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

------

**Invesco Dorsey Wright Emerging Markets Momentum ETF (PIE)—(continued)**

January 31, 2026

*(Unaudited)*

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Taiwan-(continued)** | **Taiwan-(continued)** | **Taiwan-(continued)** |
| Yankey Engineering Co. Ltd. | 141740 | &nbsp;&nbsp; $2656786 |
| Yuanta Financial Holding Co. Ltd. | 645172 | &nbsp;&nbsp; 878874 |
|  |  | &nbsp;&nbsp; 59695765 |
| **Thailand-3.98%** | **Thailand-3.98%** | **Thailand-3.98%** |
| Kasikornbank PCL, NVDR | 107734 | &nbsp;&nbsp; 643443 |
| Krung Thai Bank PCL, NVDR | 887174 | &nbsp;&nbsp; 796092 |
| Thanachart Capital PCL, NVDR | 407991 | &nbsp;&nbsp; 764702 |
| Tisco Financial Group PCL, NVDR | 836260 | &nbsp;&nbsp; 2986937 |
|  |  | &nbsp;&nbsp; 5191174 |
| **Turkey-1.72%** | **Turkey-1.72%** | **Turkey-1.72%** |
| Tera Yatirim Menkul Degerler A.S.<sup>(b)</sup> | 467824 | &nbsp;&nbsp; 2238855 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks & Other Equity Interests <br>(Cost $105,308,226) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks & Other Equity Interests <br>(Cost $105,308,226) | &nbsp;&nbsp; 130232077 |
| **Money Market Funds-0.14%** | **Money Market Funds-0.14%** | **Money Market Funds-0.14%** |
| &nbsp;&nbsp;&nbsp; Invesco Government & Agency Portfolio, <br> Institutional Class, 3.61%<sup>(d)(e)</sup> <br>(Cost $179,920)<br>| 179920 | &nbsp;&nbsp; 179920 |
| &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES <br>(excluding investments purchased with cash collateral <br> from securities on loan)-99.96% <br>(Cost $105,488,146) | &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES <br>(excluding investments purchased with cash collateral <br> from securities on loan)-99.96% <br>(Cost $105,488,146) | &nbsp;&nbsp; 130411997 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Investments Purchased with Cash Collateral from Securities** <br> **on Loan** | **Investments Purchased with Cash Collateral from Securities** <br> **on Loan** | **Investments Purchased with Cash Collateral from Securities** <br> **on Loan** |
| **Money Market Funds-4.07%** | **Money Market Funds-4.07%** | **Money Market Funds-4.07%** |
| &nbsp;&nbsp;&nbsp; Invesco Private Government Fund, <br> 3.65%<sup>(d)(e)(f)</sup><br>| 1475808 | &nbsp;&nbsp; $1475808 |
| Invesco Private Prime Fund, 3.80%<sup>(d)(e)(f)</sup> | 3833244 | &nbsp;&nbsp; 3834394 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Investments Purchased with Cash Collateral from <br> Securities on Loan <br>(Cost $5,310,202) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Investments Purchased with Cash Collateral from <br> Securities on Loan <br>(Cost $5,310,202) | &nbsp;&nbsp; 5310202 |
| &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES-104.03% <br>(Cost $110,798,348) | &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES-104.03% <br>(Cost $110,798,348) | &nbsp;&nbsp; 135722199 |
| OTHER ASSETS LESS LIABILITIES-(4.03)% | OTHER ASSETS LESS LIABILITIES-(4.03)% | &nbsp;&nbsp; (5256170)<br>|
| NET ASSETS-100.00% | NET ASSETS-100.00% | &nbsp;&nbsp; $130466029 |

---

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

Investment Abbreviations: <br> NVDR-Non-Voting Depositary Receipt <br> REIT-Real Estate Investment Trust

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

---

| | |
|:---|:---|
| Notes to Schedule of Investments: | Notes to Schedule of Investments: |
| <sup>(a)</sup> | All or a portion of this security was out on loan at January 31, 2026. |
| <sup>(b)</sup> | Non-income producing security. |
| <sup>(c)</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 $1,344,578, which represented 1.03% of the Fund's Net Assets.<br>|
| <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>| **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; $- | &nbsp;&nbsp;&nbsp; $7992404 | &nbsp;&nbsp;&nbsp; $(7812484)<br>| &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $179920 | &nbsp;&nbsp;&nbsp; $1379 |
| **Investments Purchased** <br> **with Cash Collateral from** <br> **Securities on Loan:**<br>|  |  |  |  |  |  |  |
| &nbsp;&nbsp; Invesco Private <br> Government Fund<br>| &nbsp;&nbsp;&nbsp; 877193 | &nbsp;&nbsp;&nbsp; 5107961 | &nbsp;&nbsp;&nbsp; (4509346)<br>| &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; 1475808 | &nbsp;&nbsp;&nbsp; 14,278<br> \*<br>|
| &nbsp;&nbsp; Invesco Private Prime <br> Fund<br>| &nbsp;&nbsp;&nbsp; 2282754 | &nbsp;&nbsp;&nbsp; 13494204 | &nbsp;&nbsp;&nbsp; (11942564)<br>| &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; 3834394 | &nbsp;&nbsp;&nbsp; 38,401<br> \*<br>|
| &nbsp;&nbsp; Total | &nbsp;&nbsp;&nbsp; $3159947 | &nbsp;&nbsp;&nbsp; $26594569 | &nbsp;&nbsp;&nbsp; $(24264394)<br>| &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $5490122 | &nbsp;&nbsp;&nbsp; $54058 |

---

&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.

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

------

**Invesco Dorsey Wright Emerging Markets Momentum ETF (PIE)—(continued)**

January 31, 2026

*(Unaudited)*

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

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

------

Schedule of Investments

**Invesco Global Clean Energy ETF (PBD)**

January 31, 2026

*(Unaudited)*

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

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Common Stocks & Other Equity Interests-99.89%** | **Common Stocks & Other Equity Interests-99.89%** | **Common Stocks & Other Equity Interests-99.89%** |
| **Austria-0.84%** | **Austria-0.84%** | **Austria-0.84%** |
| Verbund AG<sup>(a)</sup> | 20825 | &nbsp;&nbsp; $1533590 |
| **Belgium-1.03%** | **Belgium-1.03%** | **Belgium-1.03%** |
| Elia Group S.A./N.V. | 12843 | &nbsp;&nbsp; 1866166 |
| **Canada-3.12%** | **Canada-3.12%** | **Canada-3.12%** |
| Ballard Power Systems, Inc.<sup>(a)(b)</sup> | 486661 | &nbsp;&nbsp; 1146438 |
| Boralex, Inc., Class A<sup>(a)</sup> | 79833 | &nbsp;&nbsp; 1488597 |
| Canadian Solar, Inc.<sup>(a)(b)</sup> | 54373 | &nbsp;&nbsp; 1039883 |
| NFI Group, Inc.<sup>(b)</sup> | 163192 | &nbsp;&nbsp; 1993277 |
|  |  | &nbsp;&nbsp; 5668195 |
| **Chile-1.24%** | **Chile-1.24%** | **Chile-1.24%** |
| &nbsp;&nbsp;&nbsp; Sociedad Quimica y Minera de Chile S.A., <br> ADR<sup>(b)</sup><br>| 29251 | &nbsp;&nbsp; 2247647 |
| **China-11.50%** | **China-11.50%** | **China-11.50%** |
| BYD Co. Ltd., H Shares<sup>(a)</sup> | 117629 | &nbsp;&nbsp; 1466916 |
| CALB Group Co. Ltd., H Shares<sup>(b)(c)</sup> | 343472 | &nbsp;&nbsp; 1083504 |
| &nbsp;&nbsp;&nbsp; China Datang Corp. Renewable Power Co. <br> Ltd., H Shares<sup>(a)</sup><br>| 4895542 | &nbsp;&nbsp; 1310052 |
| Contemporary Amperex Technology Co. Ltd. | 21355 | &nbsp;&nbsp; 1332909 |
| Flat Glass Group Co. Ltd., H Shares<sup>(a)(b)</sup> | 941477 | &nbsp;&nbsp; 1316098 |
| Ganfeng Lithium Group Co. Ltd., H Shares<sup>(c)</sup> | 202282 | &nbsp;&nbsp; 1544695 |
| JinkoSolar Holding Co. Ltd., ADR<sup>(a)</sup> | 59124 | &nbsp;&nbsp; 1515348 |
| NIO, Inc., ADR<sup>(a)(b)</sup> | 249383 | &nbsp;&nbsp; 1172100 |
| Tianneng Power International Ltd. | 1408185 | &nbsp;&nbsp; 1318191 |
| Wasion Holdings Ltd. | 817072 | &nbsp;&nbsp; 2496111 |
| Xinyi Energy Holdings Ltd. | 9022760 | &nbsp;&nbsp; 1397416 |
| Xinyi Solar Holdings Ltd.<sup>(a)</sup> | 3184330 | &nbsp;&nbsp; 1376823 |
| XPeng, Inc., ADR<sup>(a)(b)</sup> | 58990 | &nbsp;&nbsp; 1060640 |
| Yadea Group Holdings Ltd.<sup>(c)</sup> | 953689 | &nbsp;&nbsp; 1347893 |
| Zhejiang Leapmotor Technology Co. Ltd.<sup>(b)(c)</sup> | 212690 | &nbsp;&nbsp; 1155276 |
|  |  | &nbsp;&nbsp; 20893972 |
| **Denmark-3.07%** | **Denmark-3.07%** | **Denmark-3.07%** |
| NKT A/S<sup>(b)</sup> | 13847 | &nbsp;&nbsp; 1817677 |
| Orsted A/S<sup>(b)(c)</sup> | 80221 | &nbsp;&nbsp; 1811247 |
| Vestas Wind Systems A/S | 64182 | &nbsp;&nbsp; 1952622 |
|  |  | &nbsp;&nbsp; 5581546 |
| **Finland-0.96%** | **Finland-0.96%** | **Finland-0.96%** |
| Kempower OYJ<sup>(a)(b)</sup> | 90213 | &nbsp;&nbsp; 1739772 |
| **France-3.82%** | **France-3.82%** | **France-3.82%** |
| Legrand S.A. | 10221 | &nbsp;&nbsp; 1637785 |
| Nexans S.A. | 10887 | &nbsp;&nbsp; 1721060 |
| Rexel S.A. | 44759 | &nbsp;&nbsp; 1882458 |
| SPIE S.A. | 30692 | &nbsp;&nbsp; 1687837 |
|  |  | &nbsp;&nbsp; 6929140 |
| **Germany-4.38%** | **Germany-4.38%** | **Germany-4.38%** |
| Nordex SE<sup>(b)</sup> | 49998 | &nbsp;&nbsp; 2009005 |
| SMA Solar Technology AG<sup>(a)(b)</sup> | 46714 | &nbsp;&nbsp; 2039573 |
| Verbio SE<sup>(b)</sup> | 76397 | &nbsp;&nbsp; 2264091 |
| Wacker Chemie AG | 20226 | &nbsp;&nbsp; 1648565 |
|  |  | &nbsp;&nbsp; 7961234 |
| **Ireland-0.95%** | **Ireland-0.95%** | **Ireland-0.95%** |
| Kingspan Group PLC | 19690 | &nbsp;&nbsp; 1720719 |
| **Israel-3.88%** | **Israel-3.88%** | **Israel-3.88%** |
| Energix-Renewable Energies Ltd. | 359060 | &nbsp;&nbsp; 2289058 |
| Enlight Renewable Energy Ltd.<sup>(b)</sup> | 40579 | &nbsp;&nbsp; 2296847 |
| OY Nofar Energy Ltd.<sup>(b)</sup> | 49212 | &nbsp;&nbsp; 2465376 |
|  |  | &nbsp;&nbsp; 7051281 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Italy-2.82%** | **Italy-2.82%** | **Italy-2.82%** |
| ERG S.p.A.<sup>(a)</sup> | 60223 | &nbsp;&nbsp; $1608588 |
| Prysmian S.p.A. | 15826 | &nbsp;&nbsp; 1881286 |
| Terna S.p.A. | 150220 | &nbsp;&nbsp; 1633738 |
|  |  | &nbsp;&nbsp; 5123612 |
| **Japan-5.11%** | **Japan-5.11%** | **Japan-5.11%** |
| GS Yuasa Corp. | 60605 | &nbsp;&nbsp; 1415367 |
| RENOVA, Inc.<sup>(a)(b)</sup> | 305262 | &nbsp;&nbsp; 1369536 |
| Sanyo Denki Co. Ltd.<sup>(a)</sup> | 61927 | &nbsp;&nbsp; 1670466 |
| Tamura Corp. | 361382 | &nbsp;&nbsp; 1494314 |
| Toyo Tanso Co. Ltd.<sup>(a)</sup> | 47254 | &nbsp;&nbsp; 1656362 |
| West Holdings Corp.<sup>(a)</sup> | 162243 | &nbsp;&nbsp; 1674950 |
|  |  | &nbsp;&nbsp; 9280995 |
| **Netherlands-0.97%** | **Netherlands-0.97%** | **Netherlands-0.97%** |
| Alfen N.V.<sup>(a)(b)(c)</sup> | 131980 | &nbsp;&nbsp; 1767105 |
| **New Zealand-0.88%** | **New Zealand-0.88%** | **New Zealand-0.88%** |
| Mercury NZ Ltd. | 418189 | &nbsp;&nbsp; 1602684 |
| **Norway-0.76%** | **Norway-0.76%** | **Norway-0.76%** |
| NEL ASA<sup>(a)(b)</sup> | 6006254 | &nbsp;&nbsp; 1374667 |
| **South Africa-1.02%** | **South Africa-1.02%** | **South Africa-1.02%** |
| Scatec ASA<sup>(b)(c)</sup> | 154873 | &nbsp;&nbsp; 1856248 |
| **South Korea-8.28%** | **South Korea-8.28%** | **South Korea-8.28%** |
| CS Wind Corp.<sup>(a)(b)</sup> | 50936 | &nbsp;&nbsp; 1435748 |
| Doosan Fuel Cell Co. Ltd.<sup>(a)(b)</sup> | 61911 | &nbsp;&nbsp; 1450995 |
| Ecopro BM Co. Ltd.<sup>(b)</sup> | 14278 | &nbsp;&nbsp; 2287123 |
| HD Hyundai Electric Co. Ltd. | 2638 | &nbsp;&nbsp; 1616157 |
| LG Energy Solution Ltd.<sup>(a)(b)</sup> | 4715 | &nbsp;&nbsp; 1296089 |
| Lotte Energy Materials Corp.<sup>(a)(b)</sup> | 56828 | &nbsp;&nbsp; 1524638 |
| LS Corp. | 11063 | &nbsp;&nbsp; 1744577 |
| LS Electric Co. Ltd.<sup>(b)</sup> | 4725 | &nbsp;&nbsp; 1841330 |
| Samsung SDI Co. Ltd.<sup>(a)(b)</sup> | 6830 | &nbsp;&nbsp; 1838474 |
|  |  | &nbsp;&nbsp; 15035131 |
| **Spain-4.71%** | **Spain-4.71%** | **Spain-4.71%** |
| Acciona S.A.<sup>(a)</sup> | 6749 | &nbsp;&nbsp; 1455731 |
| &nbsp;&nbsp;&nbsp; Corporacion ACCIONA Energias Renovables <br> S.A.<sup>(a)</sup><br>| 55521 | &nbsp;&nbsp; 1410539 |
| EDP Renovaveis S.A.<sup>(a)</sup> | 114760 | &nbsp;&nbsp; 1749690 |
| Grenergy Renovables S.A.<sup>(b)</sup> | 17341 | &nbsp;&nbsp; 1986591 |
| Solaria Energia y Medio Ambiente S.A.<sup>(b)</sup> | 87957 | &nbsp;&nbsp; 1946950 |
|  |  | &nbsp;&nbsp; 8549501 |
| **Sweden-0.82%** | **Sweden-0.82%** | **Sweden-0.82%** |
| NIBE Industrier AB, Class B<sup>(a)</sup> | 386865 | &nbsp;&nbsp; 1491244 |
| **Switzerland-0.93%** | **Switzerland-0.93%** | **Switzerland-0.93%** |
| Landis+Gyr Group AG<sup>(b)</sup> | 23817 | &nbsp;&nbsp; 1679637 |
| **Taiwan-14.42%** | **Taiwan-14.42%** | **Taiwan-14.42%** |
| AcBel Polytech, Inc. | 1154128 | &nbsp;&nbsp; 1802992 |
| Allis Electric Co. Ltd. | 478748 | &nbsp;&nbsp; 1870211 |
| &nbsp;&nbsp;&nbsp; Chung-Hsin Electric and Machinery <br> Manufacturing Corp.<br>| 322650 | &nbsp;&nbsp; 1724348 |
| Delta Electronics, Inc. | 50046 | &nbsp;&nbsp; 1909873 |
| Fortune Electric Co. Ltd. | 65191 | &nbsp;&nbsp; 1989720 |
| FSP Technology, Inc. | 867303 | &nbsp;&nbsp; 1418663 |
| Motech Industries, Inc. | 2922370 | &nbsp;&nbsp; 2162116 |
| Phihong Technology Co. Ltd.<sup>(b)</sup> | 1533495 | &nbsp;&nbsp; 1402470 |
| Shihlin Electric & Engineering Corp. | 273651 | &nbsp;&nbsp; 1979348 |
| Sino-American Silicon Products, Inc. | 462799 | &nbsp;&nbsp; 1753104 |
| Ta Ya Electric Wire & Cable Co. Ltd. | 1154242 | &nbsp;&nbsp; 1518440 |
| Teco Electric and Machinery Co. Ltd. | 438160 | &nbsp;&nbsp; 1117594 |

---

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

------

**Invesco Global Clean Energy ETF (PBD)—(continued)**

January 31, 2026

*(Unaudited)*

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Taiwan-(continued)** | **Taiwan-(continued)** | **Taiwan-(continued)** |
| TSEC Corp.<sup>(b)</sup> | 3610105 | &nbsp;&nbsp; $4428745 |
| Voltronic Power Technology Corp. | 41109 | &nbsp;&nbsp; 1104186 |
|  |  | &nbsp;&nbsp; 26181810 |
| **United Kingdom-1.44%** | **United Kingdom-1.44%** | **United Kingdom-1.44%** |
| Ceres Power Holdings PLC<sup>(b)</sup> | 317823 | &nbsp;&nbsp; 1299025 |
| ITM Power PLC<sup>(a)(b)</sup> | 1529342 | &nbsp;&nbsp; 1310014 |
|  |  | &nbsp;&nbsp; 2609039 |
| **United States-22.94%** | **United States-22.94%** | **United States-22.94%** |
| Array Technologies, Inc.<sup>(a)(b)</sup> | 204756 | &nbsp;&nbsp; 2318862 |
| Atkore, Inc. | 24004 | &nbsp;&nbsp; 1667078 |
| Bloom Energy Corp., Class A<sup>(b)</sup> | 15028 | &nbsp;&nbsp; 2274788 |
| Blue Bird Corp.<sup>(a)(b)</sup> | 29984 | &nbsp;&nbsp; 1508495 |
| ChargePoint Holdings, Inc.<sup>(a)(b)</sup> | 170071 | &nbsp;&nbsp; 1018725 |
| Core & Main, Inc., Class A<sup>(b)</sup> | 32332 | &nbsp;&nbsp; 1725235 |
| Darling Ingredients, Inc.<sup>(b)</sup> | 44936 | &nbsp;&nbsp; 2051778 |
| Enphase Energy, Inc.<sup>(b)</sup> | 53827 | &nbsp;&nbsp; 1990522 |
| Eos Energy Enterprises, Inc.<sup>(a)(b)</sup> | 102344 | &nbsp;&nbsp; 1498316 |
| EVgo, Inc.<sup>(a)(b)</sup> | 520451 | &nbsp;&nbsp; 1566557 |
| First Solar, Inc.<sup>(b)</sup> | 6065 | &nbsp;&nbsp; 1367779 |
| Green Plains, Inc.<sup>(a)(b)</sup> | 163805 | &nbsp;&nbsp; 1877205 |
| HA Sustainable Infrastructure Capital, Inc. | 47185 | &nbsp;&nbsp; 1623636 |
| Hubbell, Inc. | 3554 | &nbsp;&nbsp; 1734139 |
| Itron, Inc.<sup>(b)</sup> | 15644 | &nbsp;&nbsp; 1550008 |
| Lucid Group, Inc.<sup>(a)(b)</sup> | 102581 | &nbsp;&nbsp; 1135572 |
| Ormat Technologies, Inc.<sup>(a)</sup> | 14383 | &nbsp;&nbsp; 1797012 |
| Plug Power, Inc.<sup>(a)(b)</sup> | 624959 | &nbsp;&nbsp; 1321788 |
| QuantumScape Corp.<sup>(a)(b)</sup> | 114676 | &nbsp;&nbsp; 1014883 |
| Rivian Automotive, Inc., Class A<sup>(a)(b)</sup> | 94945 | &nbsp;&nbsp; 1400439 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **United States-(continued)** | **United States-(continued)** | **United States-(continued)** |
| SES AI Corp.<sup>(a)(b)</sup> | 781984 | &nbsp;&nbsp; $1587428 |
| Shoals Technologies Group, Inc., Class A<sup>(b)</sup> | 192592 | &nbsp;&nbsp; 1818068 |
| Signify N.V. | 65925 | &nbsp;&nbsp; 1404636 |
| SolarEdge Technologies, Inc.<sup>(a)(b)</sup> | 42728 | &nbsp;&nbsp; 1322432 |
| Sunrun, Inc.<sup>(b)</sup> | 82467 | &nbsp;&nbsp; 1566873 |
| Universal Display Corp.<sup>(a)</sup> | 13295 | &nbsp;&nbsp; 1526532 |
|  |  | &nbsp;&nbsp; 41668786 |
| &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES <br>(excluding investments purchased with cash collateral <br> from securities on loan)-99.89% <br>(Cost $152,439,186) | &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES <br>(excluding investments purchased with cash collateral <br> from securities on loan)-99.89% <br>(Cost $152,439,186) | &nbsp;&nbsp; 181413721 |
| **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-23.95%** | **Money Market Funds-23.95%** | **Money Market Funds-23.95%** |
| &nbsp;&nbsp;&nbsp; Invesco Private Government Fund, <br> 3.65%<sup>(d)(e)(f)</sup><br>| 12004613 | &nbsp;&nbsp; 12004613 |
| Invesco Private Prime Fund, 3.80%<sup>(d)(e)(f)</sup> | 31490702 | &nbsp;&nbsp; 31500149 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Investments Purchased with Cash Collateral from <br> Securities on Loan <br>(Cost $43,504,762) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Investments Purchased with Cash Collateral from <br> Securities on Loan <br>(Cost $43,504,762) | &nbsp;&nbsp; 43504762 |
| &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES-123.84% <br>(Cost $195,943,948) | &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES-123.84% <br>(Cost $195,943,948) | &nbsp;&nbsp; 224918483 |
| OTHER ASSETS LESS LIABILITIES-(23.84)% | OTHER ASSETS LESS LIABILITIES-(23.84)% | &nbsp;&nbsp; (43298493)<br>|
| NET ASSETS-100.00% | NET ASSETS-100.00% | &nbsp;&nbsp; $181619990 |

---

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

Investment Abbreviations: <br> ADR-American Depositary Receipt

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

---

| | |
|:---|:---|
| Notes to Schedule of Investments: | Notes to Schedule of Investments: |
| <sup>(a)</sup> | All or a portion of this security was out on loan at January 31, 2026. |
| <sup>(b)</sup> | Non-income producing security. |
| <sup>(c)</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 $10,565,968, which represented 5.82% of the Fund's Net Assets.<br>|
| <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; $- | &nbsp;&nbsp;&nbsp; $8722468 | &nbsp;&nbsp;&nbsp; $(8722468)<br>| &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $1947 |

---

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

------

**Invesco Global Clean Energy ETF (PBD)—(continued)**

January 31, 2026

*(Unaudited)*

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **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 Purchased** <br> **with Cash Collateral from** <br> **Securities on Loan:**<br>|  |  |  |  |  |  |  |
| &nbsp;&nbsp; Invesco Private <br> Government Fund<br>| &nbsp;&nbsp;&nbsp; $5186590 | &nbsp;&nbsp;&nbsp; $18163368 | &nbsp;&nbsp;&nbsp; $(11345345)<br>| &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $12004613 | &nbsp;&nbsp;&nbsp; $97,325<br> \*<br>|
| &nbsp;&nbsp; Invesco Private Prime <br> Fund<br>| &nbsp;&nbsp;&nbsp; 13486928 | &nbsp;&nbsp;&nbsp; 38883918 | &nbsp;&nbsp;&nbsp; (20870696)<br>| &nbsp;&nbsp;&nbsp; 191 | &nbsp;&nbsp;&nbsp; (192)<br>| &nbsp;&nbsp;&nbsp; 31500149 | &nbsp;&nbsp;&nbsp; 261,828<br> \*<br>|
| &nbsp;&nbsp; Total | &nbsp;&nbsp;&nbsp; $18673518 | &nbsp;&nbsp;&nbsp; $65769754 | &nbsp;&nbsp;&nbsp; $(40938509)<br>| &nbsp;&nbsp;&nbsp; $191 | &nbsp;&nbsp;&nbsp; $(192)<br>| &nbsp;&nbsp;&nbsp; $43504762 | &nbsp;&nbsp;&nbsp; $361100 |

---

&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.

------

Schedule of Investments

**Invesco Global Water ETF (PIO)**

January 31, 2026

*(Unaudited)*

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

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Common Stocks & Other Equity Interests-99.67%** | **Common Stocks & Other Equity Interests-99.67%** | **Common Stocks & Other Equity Interests-99.67%** |
| **Brazil-7.75%** | **Brazil-7.75%** | **Brazil-7.75%** |
| &nbsp;&nbsp;&nbsp; Cia de Saneamento Basico do Estado de Sao <br> Paulo SABESP<br>| 839734 | &nbsp;&nbsp; $22650385 |
| **Canada-4.00%** | **Canada-4.00%** | **Canada-4.00%** |
| Stantec, Inc. | 117408 | &nbsp;&nbsp; 11699616 |
| **Chile-0.39%** | **Chile-0.39%** | **Chile-0.39%** |
| Aguas Andinas S.A., Class A | 2543207 | &nbsp;&nbsp; 1134191 |
| **France-4.29%** | **France-4.29%** | **France-4.29%** |
| Veolia Environnement S.A. | 332971 | &nbsp;&nbsp; 12534121 |
| **India-2.12%** | **India-2.12%** | **India-2.12%** |
| Astral Ltd. | 239703 | &nbsp;&nbsp; 3851898 |
| Jindal Saw Ltd. | 874056 | &nbsp;&nbsp; 1665662 |
| VA Tech Wabag Ltd. | 58774 | &nbsp;&nbsp; 689314 |
|  |  | &nbsp;&nbsp; 6206874 |
| **Japan-15.86%** | **Japan-15.86%** | **Japan-15.86%** |
| Ebara Corp. | 864146 | &nbsp;&nbsp; 26246680 |
| Ebara Jitsugyo Co. Ltd. | 14940 | &nbsp;&nbsp; 207667 |
| Kurita Water Industries Ltd. | 142487 | &nbsp;&nbsp; 7150272 |
| METAWATER Co. Ltd. | 56490 | &nbsp;&nbsp; 1213871 |
| Miura Co. Ltd. | 141383 | &nbsp;&nbsp; 2916550 |
| Organo Corp. | 81454 | &nbsp;&nbsp; 8628725 |
|  |  | &nbsp;&nbsp; 46363765 |
| **Netherlands-1.42%** | **Netherlands-1.42%** | **Netherlands-1.42%** |
| Arcadis N.V.<sup>(a)</sup> | 92326 | &nbsp;&nbsp; 4161417 |
| **Philippines-0.18%** | **Philippines-0.18%** | **Philippines-0.18%** |
| Manila Water Co., Inc. | 769200 | &nbsp;&nbsp; 530161 |
| **South Korea-1.37%** | **South Korea-1.37%** | **South Korea-1.37%** |
| &nbsp;&nbsp;&nbsp; Coway Co. Ltd., (Acquired 03/19/2020 - <br> 01/07/2026; Cost $3,472,759)<sup>(a)(b)(c)</sup><br>| 69129 | &nbsp;&nbsp; 3999816 |
| **Switzerland-9.67%** | **Switzerland-9.67%** | **Switzerland-9.67%** |
| Belimo Holding AG | 8278 | &nbsp;&nbsp; 9089564 |
| Geberit AG<sup>(a)</sup> | 14527 | &nbsp;&nbsp; 11135899 |
| Georg Fischer AG<sup>(a)</sup> | 79940 | &nbsp;&nbsp; 5348828 |
| Sulzer AG | 12501 | &nbsp;&nbsp; 2704049 |
|  |  | &nbsp;&nbsp; 28278340 |
| **United Kingdom-7.01%** | **United Kingdom-7.01%** | **United Kingdom-7.01%** |
| Genuit Group PLC | 306159 | &nbsp;&nbsp; 1397903 |
| Halma PLC | 170553 | &nbsp;&nbsp; 8307134 |
| Severn Trent PLC | 135240 | &nbsp;&nbsp; 5447507 |
| United Utilities Group PLC | 311870 | &nbsp;&nbsp; 5356169 |
|  |  | &nbsp;&nbsp; 20508713 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **United States-45.61%** | **United States-45.61%** | **United States-45.61%** |
| AECOM | 63320 | &nbsp;&nbsp; $6105948 |
| American Water Works Co., Inc. | 78246 | &nbsp;&nbsp; 10103906 |
| Consolidated Water Co. Ltd. | 31862 | &nbsp;&nbsp; 1206933 |
| Core & Main, Inc., Class A<sup>(b)</sup> | 148332 | &nbsp;&nbsp; 7914995 |
| Ecolab, Inc. | 41134 | &nbsp;&nbsp; 11599377 |
| Ferguson Enterprises, Inc. | 89948 | &nbsp;&nbsp; 22708272 |
| IDEX Corp. | 30208 | &nbsp;&nbsp; 5997798 |
| Pentair PLC | 215099 | &nbsp;&nbsp; 22664982 |
| Roper Technologies, Inc. | 50731 | &nbsp;&nbsp; 18832869 |
| Veralto Corp. | 74277 | &nbsp;&nbsp; 7351937 |
| Waters Corp.<sup>(b)</sup> | 27153 | &nbsp;&nbsp; 10066160 |
| Xylem, Inc. | 63894 | &nbsp;&nbsp; 8809066 |
|  |  | &nbsp;&nbsp; 133362243 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks & Other Equity Interests <br>(Cost $214,212,428) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks & Other Equity Interests <br>(Cost $214,212,428) | &nbsp;&nbsp; 291429642 |
| **Money Market Funds-0.06%** | **Money Market Funds-0.06%** | **Money Market Funds-0.06%** |
| &nbsp;&nbsp;&nbsp; Invesco Government & Agency Portfolio, <br> Institutional Class, 3.61%<sup>(d)(e)</sup> <br>(Cost $169,965)<br>| 169965 | &nbsp;&nbsp; 169965 |
| &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES <br>(excluding investments purchased with cash collateral <br> from securities on loan)-99.73% <br>(Cost $214,382,393) | &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES <br>(excluding investments purchased with cash collateral <br> from securities on loan)-99.73% <br>(Cost $214,382,393) | &nbsp;&nbsp; 291599607 |
| **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-3.42%** | **Money Market Funds-3.42%** | **Money Market Funds-3.42%** |
| &nbsp;&nbsp;&nbsp; Invesco Private Government Fund, <br> 3.65%<sup>(d)(e)(f)</sup><br>| 2777839 | &nbsp;&nbsp; 2777839 |
| Invesco Private Prime Fund, 3.80%<sup>(d)(e)(f)</sup> | 7210397 | &nbsp;&nbsp; 7212560 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Investments Purchased with Cash Collateral from <br> Securities on Loan <br>(Cost $9,990,399) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Investments Purchased with Cash Collateral from <br> Securities on Loan <br>(Cost $9,990,399) | &nbsp;&nbsp; 9990399 |
| &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES-103.15% <br>(Cost $224,372,792) | &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES-103.15% <br>(Cost $224,372,792) | &nbsp;&nbsp; 301590006 |
| OTHER ASSETS LESS LIABILITIES-(3.15)% | OTHER ASSETS LESS LIABILITIES-(3.15)% | &nbsp;&nbsp; (9209077)<br>|
| NET ASSETS-100.00% | NET ASSETS-100.00% | &nbsp;&nbsp; $292380929 |

---

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

---

| | |
|:---|:---|
| Notes to Schedule of Investments: | Notes to Schedule of Investments: |
| <sup>(a)</sup> | All or a portion of this security was out on loan at January 31, 2026. |
| <sup>(b)</sup> | Non-income producing security. |
| <sup>(c)</sup> | Restricted security. The value of this security at January 31, 2026 represented 1.37% of the Fund's Net Assets. |
| <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; $61691 | &nbsp;&nbsp;&nbsp; $1203952 | &nbsp;&nbsp;&nbsp; $(1095678)<br>| &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $169965 | &nbsp;&nbsp;&nbsp; $813 |

---

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

------

**Invesco Global Water ETF (PIO)—(continued)**

January 31, 2026

*(Unaudited)*

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **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 Purchased** <br> **with Cash Collateral from** <br> **Securities on Loan:**<br>|  |  |  |  |  |  |  |
| &nbsp;&nbsp; Invesco Private <br> Government Fund<br>| &nbsp;&nbsp;&nbsp; $286478 | &nbsp;&nbsp;&nbsp; $7729983 | &nbsp;&nbsp;&nbsp; $(5238622)<br>| &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $2777839 | &nbsp;&nbsp;&nbsp; $34,200<br> \*<br>|
| &nbsp;&nbsp; Invesco Private Prime <br> Fund<br>| &nbsp;&nbsp;&nbsp; 749464 | &nbsp;&nbsp;&nbsp; 18478702 | &nbsp;&nbsp;&nbsp; (12015606)<br>| &nbsp;&nbsp;&nbsp; 36 | &nbsp;&nbsp;&nbsp; (36)<br>| &nbsp;&nbsp;&nbsp; 7212560 | &nbsp;&nbsp;&nbsp; 92,031<br> \*<br>|
| &nbsp;&nbsp; Total | &nbsp;&nbsp;&nbsp; $1097633 | &nbsp;&nbsp;&nbsp; $27412637 | &nbsp;&nbsp;&nbsp; $(18349906)<br>| &nbsp;&nbsp;&nbsp; $36 | &nbsp;&nbsp;&nbsp; $(36)<br>| &nbsp;&nbsp;&nbsp; $10160364 | &nbsp;&nbsp;&nbsp; $127044 |

---

&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.

------

Schedule of Investments

**Invesco International BuyBack Achievers**<sup>TM</sup> **ETF (IPKW)**

January 31, 2026

*(Unaudited)*

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

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Common Stocks & Other Equity Interests-99.99%** | **Common Stocks & Other Equity Interests-99.99%** | **Common Stocks & Other Equity Interests-99.99%** |
| **Australia-0.61%** | **Australia-0.61%** | **Australia-0.61%** |
| Dyno Nobel Ltd. | 706265 | &nbsp;&nbsp; $1730477 |
| Helia Group Ltd. | 110472 | &nbsp;&nbsp; 449392 |
| L1 Group Ltd. | 532941 | &nbsp;&nbsp; 459223 |
| WEB Travel Group Ltd.<sup>(a)</sup> | 148282 | &nbsp;&nbsp; 477360 |
|  |  | &nbsp;&nbsp; 3116452 |
| **Belgium-0.87%** | **Belgium-0.87%** | **Belgium-0.87%** |
| Groupe Bruxelles Lambert N.V. | 43465 | &nbsp;&nbsp; 4127690 |
| Tessenderlo Group S.A. | 9815 | &nbsp;&nbsp; 319521 |
|  |  | &nbsp;&nbsp; 4447211 |
| **Brazil-0.58%** | **Brazil-0.58%** | **Brazil-0.58%** |
| Karoon Energy Ltd. | 269250 | &nbsp;&nbsp; 320673 |
| Pagseguro Digital Ltd., Class A | 84249 | &nbsp;&nbsp; 947801 |
| StoneCo Ltd., Class A<sup>(a)(b)</sup> | 104486 | &nbsp;&nbsp; 1686404 |
|  |  | &nbsp;&nbsp; 2954878 |
| **Canada-6.31%** | **Canada-6.31%** | **Canada-6.31%** |
| Air Canada<sup>(a)</sup> | 146448 | &nbsp;&nbsp; 2038581 |
| Altus Group Ltd. | 18603 | &nbsp;&nbsp; 634685 |
| Athabasca Oil Corp.<sup>(a)</sup> | 240329 | &nbsp;&nbsp; 1418032 |
| AtkinsRealis Group, Inc. | 67919 | &nbsp;&nbsp; 4792925 |
| Aurinia Pharmaceuticals, Inc.<sup>(a)</sup> | 65184 | &nbsp;&nbsp; 947124 |
| Canadian Apartment Properties REIT | 81200 | &nbsp;&nbsp; 2312205 |
| CCL Industries, Inc., Class B | 73461 | &nbsp;&nbsp; 4451656 |
| CES Energy Solutions Corp. | 83413 | &nbsp;&nbsp; 874692 |
| Chemtrade Logistics Income Fund | 57172 | &nbsp;&nbsp; 667073 |
| Imperial Oil Ltd. | 41316 | &nbsp;&nbsp; 4197350 |
| Lightspeed Commerce, Inc.<sup>(a)</sup> | 41735 | &nbsp;&nbsp; 453055 |
| Mattr Corp.<sup>(a)(b)</sup> | 13308 | &nbsp;&nbsp; 80783 |
| Minto Apartment REIT<sup>(c)</sup> | 19700 | &nbsp;&nbsp; 253424 |
| Obsidian Energy Ltd.<sup>(a)</sup> | 31524 | &nbsp;&nbsp; 229071 |
| Onex Corp. | 26759 | &nbsp;&nbsp; 2292641 |
| Open Text Corp. | 114631 | &nbsp;&nbsp; 2944184 |
| Secure Waste Infrastructure Corp. | 107690 | &nbsp;&nbsp; 1397270 |
| Superior Plus Corp. | 110240 | &nbsp;&nbsp; 594286 |
| Tamarack Valley Energy Ltd.<sup>(b)</sup> | 243439 | &nbsp;&nbsp; 1655705 |
|  |  | &nbsp;&nbsp; 32234742 |
| **China-4.51%** | **China-4.51%** | **China-4.51%** |
| Ascletis Pharma, Inc.<sup>(a)(c)</sup> | 177000 | &nbsp;&nbsp; 312765 |
| Baidu, Inc., A Shares<sup>(a)</sup> | 1106600 | &nbsp;&nbsp; 21217338 |
| &nbsp;&nbsp;&nbsp; China National Building Material Co. Ltd., H <br> Shares<br>| 1837469 | &nbsp;&nbsp; 1322095 |
| Linklogis, Inc., B Shares<sup>(c)</sup> | 681000 | &nbsp;&nbsp; 194961 |
|  |  | &nbsp;&nbsp; 23047159 |
| **Denmark-2.07%** | **Denmark-2.07%** | **Denmark-2.07%** |
| Alm Brand A/S | 352010 | &nbsp;&nbsp; 977272 |
| ISS A/S | 77515 | &nbsp;&nbsp; 2950574 |
| Pandora A/S | 39059 | &nbsp;&nbsp; 3173237 |
| Scandinavian Tobacco Group A/S<sup>(c)</sup> | 19777 | &nbsp;&nbsp; 308710 |
| Sydbank A/S | 34792 | &nbsp;&nbsp; 3162538 |
|  |  | &nbsp;&nbsp; 10572331 |
| **France-5.26%** | **France-5.26%** | **France-5.26%** |
| TotalEnergies SE | 368111 | &nbsp;&nbsp; 26869390 |
| **Georgia-0.12%** | **Georgia-0.12%** | **Georgia-0.12%** |
| Georgia Capital PLC<sup>(a)</sup> | 13288 | &nbsp;&nbsp; 616189 |
| **Germany-0.18%** | **Germany-0.18%** | **Germany-0.18%** |
| Nagarro SE | 4920 | &nbsp;&nbsp; 415861 |
| TeamViewer SE<sup>(a)(c)</sup> | 75987 | &nbsp;&nbsp; 509918 |
|  |  | &nbsp;&nbsp; 925779 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Hong Kong-0.93%** | **Hong Kong-0.93%** | **Hong Kong-0.93%** |
| J&T Global Express Ltd.<sup>(a)</sup> | 3409600 | &nbsp;&nbsp; $4437828 |
| Skyworth Group Ltd.<sup>(a)</sup> | 336942 | &nbsp;&nbsp; 306905 |
|  |  | &nbsp;&nbsp; 4744733 |
| **Indonesia-0.21%** | **Indonesia-0.21%** | **Indonesia-0.21%** |
| PT Alamtri Resources (Indonesia) Tbk | 6538800 | &nbsp;&nbsp; 859333 |
| PT Bukalapak.com Tbk<sup>(a)</sup> | 23459300 | &nbsp;&nbsp; 202657 |
|  |  | &nbsp;&nbsp; 1061990 |
| **Ireland-4.08%** | **Ireland-4.08%** | **Ireland-4.08%** |
| AIB Group PLC<sup>(a)</sup> | 1003631 | &nbsp;&nbsp; 11259433 |
| Bank of Ireland Group PLC | 447464 | &nbsp;&nbsp; 9124320 |
| Glenveagh Properties PLC<sup>(a)(c)</sup> | 211002 | &nbsp;&nbsp; 491006 |
|  |  | &nbsp;&nbsp; 20874759 |
| **Israel-0.34%** | **Israel-0.34%** | **Israel-0.34%** |
| Plus500 Ltd. | 30362 | &nbsp;&nbsp; 1752665 |
| **Italy-5.22%** | **Italy-5.22%** | **Italy-5.22%** |
| Infrastrutture Wireless Italiane S.p.A.<sup>(c)</sup> | 161260 | &nbsp;&nbsp; 1430819 |
| UniCredit S.p.A. | 288540 | &nbsp;&nbsp; 25236352 |
|  |  | &nbsp;&nbsp; 26667171 |
| **Japan-27.23%** | **Japan-27.23%** | **Japan-27.23%** |
| Aisin Corp. | 296500 | &nbsp;&nbsp; 5329015 |
| Anicom Holdings, Inc. | 29300 | &nbsp;&nbsp; 199436 |
| Avex, Inc. | 17021 | &nbsp;&nbsp; 132159 |
| Buffalo, Inc. | 3200 | &nbsp;&nbsp; 93141 |
| Canon Marketing Japan, Inc. | 27450 | &nbsp;&nbsp; 1201488 |
| Credit Saison Co. Ltd. | 91637 | &nbsp;&nbsp; 2482044 |
| ENEOS Holdings, Inc. | 1271351 | &nbsp;&nbsp; 10780183 |
| Exedy Corp. | 24000 | &nbsp;&nbsp; 887280 |
| Hiday Hidaka Corp. | 15500 | &nbsp;&nbsp; 312492 |
| Honda Motor Co. Ltd. | 2452539 | &nbsp;&nbsp; 24746453 |
| Idemitsu Kosan Co. Ltd. | 477848 | &nbsp;&nbsp; 4067810 |
| Iriso Electronics Co. Ltd. | 10040 | &nbsp;&nbsp; 217534 |
| JTEKT Corp. | 110267 | &nbsp;&nbsp; 1306237 |
| Kansai Paint Co. Ltd. | 70378 | &nbsp;&nbsp; 1126830 |
| Kawasaki Kisen Kaisha Ltd.<sup>(b)</sup> | 176951 | &nbsp;&nbsp; 2565242 |
| Keihan Holdings Co. Ltd. | 52840 | &nbsp;&nbsp; 1177579 |
| Koito Manufacturing Co. Ltd. | 124778 | &nbsp;&nbsp; 1959759 |
| K's Holdings Corp. | 80435 | &nbsp;&nbsp; 839227 |
| Kurabo Industries Ltd. | 7600 | &nbsp;&nbsp; 447929 |
| Kureha Corp. | 22704 | &nbsp;&nbsp; 646867 |
| LY Corp. | 1293115 | &nbsp;&nbsp; 3321652 |
| Maxell Ltd. | 23177 | &nbsp;&nbsp; 334505 |
| Mebuki Financial Group, Inc. | 444800 | &nbsp;&nbsp; 3366535 |
| Megachips Corp.<sup>(b)</sup> | 7718 | &nbsp;&nbsp; 424099 |
| Mitsubishi Motors Corp. | 397181 | &nbsp;&nbsp; 979565 |
| Morinaga & Co. Ltd. | 39184 | &nbsp;&nbsp; 687503 |
| NHK Spring Co. Ltd. | 97100 | &nbsp;&nbsp; 1770386 |
| Nikon Corp. | 127019 | &nbsp;&nbsp; 1603928 |
| Nippon Electric Glass Co. Ltd. | 40264 | &nbsp;&nbsp; 1756757 |
| Nippon Yusen K.K.<sup>(b)</sup> | 214635 | &nbsp;&nbsp; 7076818 |
| Nissan Motor Co. Ltd.<sup>(a)(b)</sup> | 1175207 | &nbsp;&nbsp; 2873692 |
| Raito Kogyo Co. Ltd. | 21107 | &nbsp;&nbsp; 478824 |
| Restar Corp. | 11600 | &nbsp;&nbsp; 220781 |
| Ricoh Co. Ltd. | 281659 | &nbsp;&nbsp; 2500381 |
| Sankyu, Inc. | 26098 | &nbsp;&nbsp; 1559837 |
| Santen Pharmaceutical Co. Ltd. | 159333 | &nbsp;&nbsp; 1798248 |
| Sawai Group Holdings Co. Ltd. | 52500 | &nbsp;&nbsp; 807895 |
| Seino Holdings Co. Ltd. | 79829 | &nbsp;&nbsp; 1246759 |
| Seria Co. Ltd. | 32200 | &nbsp;&nbsp; 767575 |
| Seven Bank Ltd. | 274000 | &nbsp;&nbsp; 529141 |

---

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

------

**Invesco International BuyBack Achievers**<sup>TM</sup> **ETF (IPKW)—(continued)**

January 31, 2026

*(Unaudited)*

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Japan-(continued)** | **Japan-(continued)** | **Japan-(continued)** |
| Sompo Holdings, Inc. | 353000 | &nbsp;&nbsp; $12212494 |
| Stanley Electric Co. Ltd. | 66868 | &nbsp;&nbsp; 1321584 |
| Sumitomo Bakelite Co. Ltd. | 32000 | &nbsp;&nbsp; 1130692 |
| Suruga Bank Ltd. | 82800 | &nbsp;&nbsp; 1043336 |
| Suzuken Co. Ltd. | 35696 | &nbsp;&nbsp; 1443558 |
| Systena Corp. | 159997 | &nbsp;&nbsp; 526732 |
| T&D Holdings, Inc. | 269000 | &nbsp;&nbsp; 6665564 |
| Toho Gas Co. Ltd. | 45610 | &nbsp;&nbsp; 1515791 |
| Tokyo Gas Co. Ltd. | 168778 | &nbsp;&nbsp; 7512218 |
| TOPPAN Holdings, Inc. | 128224 | &nbsp;&nbsp; 3973647 |
| Toyo Seikan Group Holdings Ltd. | 56761 | &nbsp;&nbsp; 1428742 |
| TRE Holdings Corp. | 23700 | &nbsp;&nbsp; 263859 |
| TS Tech Co. Ltd. | 48432 | &nbsp;&nbsp; 596921 |
| TSI Holdings Co. Ltd.<sup>(b)</sup> | 36648 | &nbsp;&nbsp; 250788 |
| Ushio, Inc. | 38900 | &nbsp;&nbsp; 701558 |
| Wacoal Holdings Corp. | 21559 | &nbsp;&nbsp; 609843 |
| Wacom Co. Ltd. | 54114 | &nbsp;&nbsp; 263088 |
| Yamaha Corp. | 248700 | &nbsp;&nbsp; 1813527 |
| Zeon Corp. | 106400 | &nbsp;&nbsp; 1304406 |
|  |  | &nbsp;&nbsp; 139201934 |
| **Malaysia-0.12%** | **Malaysia-0.12%** | **Malaysia-0.12%** |
| Nationgate Holdings Bhd. | 425100 | &nbsp;&nbsp; 107299 |
| Yinson Holdings Bhd. | 852500 | &nbsp;&nbsp; 510396 |
|  |  | &nbsp;&nbsp; 617695 |
| **Mexico-0.21%** | **Mexico-0.21%** | **Mexico-0.21%** |
| Corp. Inmobiliaria Vesta SAB de C.V.<sup>(b)</sup> | 347168 | &nbsp;&nbsp; 1081510 |
| **Netherlands-11.19%** | **Netherlands-11.19%** | **Netherlands-11.19%** |
| ING Groep N.V. | 852281 | &nbsp;&nbsp; 25225745 |
| NN Group N.V. | 120929 | &nbsp;&nbsp; 9620487 |
| Prosus N.V.<sup>(a)</sup> | 387195 | &nbsp;&nbsp; 22344981 |
|  |  | &nbsp;&nbsp; 57191213 |
| **Norway-2.20%** | **Norway-2.20%** | **Norway-2.20%** |
| Equinor ASA | 417162 | &nbsp;&nbsp; 11249437 |
| **South Africa-0.20%** | **South Africa-0.20%** | **South Africa-0.20%** |
| African Rainbow Minerals Ltd. | 46436 | &nbsp;&nbsp; 684464 |
| Thungela Resources Ltd. | 54875 | &nbsp;&nbsp; 339035 |
|  |  | &nbsp;&nbsp; 1023499 |
| **South Korea-3.52%** | **South Korea-3.52%** | **South Korea-3.52%** |
| DB HiTek Co. Ltd. | 14626 | &nbsp;&nbsp; 1067126 |
| Hanwha Corp.<sup>(a)</sup> | 14824 | &nbsp;&nbsp; 1176951 |
| HL Holdings Corp.<sup>(a)</sup> | 2004 | &nbsp;&nbsp; 63347 |
| InBody Co. Ltd. | 3732 | &nbsp;&nbsp; 84653 |
| Korea Zinc Co. Ltd. | 5260 | &nbsp;&nbsp; 6852163 |
| Mcnex Co. Ltd. | 6281 | &nbsp;&nbsp; 132872 |
| Meritz Financial Group, Inc. | 32054 | &nbsp;&nbsp; 2591734 |
| Mirae Asset Securities Co. Ltd. | 145796 | &nbsp;&nbsp; 4322201 |
| Misto Holdings Corp. | 16936 | &nbsp;&nbsp; 551492 |
| NHN Corp. | 6664 | &nbsp;&nbsp; 149077 |
| SFA Engineering Corp. | 9587 | &nbsp;&nbsp; 223809 |
| Shinsegae, Inc. | 2718 | &nbsp;&nbsp; 602166 |
| SK Discovery Co. Ltd. | 4808 | &nbsp;&nbsp; 193028 |
|  |  | &nbsp;&nbsp; 18010619 |
| **Spain-1.78%** | **Spain-1.78%** | **Spain-1.78%** |
| Banco de Sabadell S.A. | 2309925 | &nbsp;&nbsp; 9094215 |
| **Sweden-2.59%** | **Sweden-2.59%** | **Sweden-2.59%** |
| AcadeMedia AB<sup>(c)</sup> | 34267 | &nbsp;&nbsp; 365360 |
| Saab AB, Class B | 163645 | &nbsp;&nbsp; 12847747 |
|  |  | &nbsp;&nbsp; 13213107 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Taiwan-0.04%** | **Taiwan-0.04%** | **Taiwan-0.04%** |
| AmTran Technology Co., Ltd. | 302000 | &nbsp;&nbsp; $194808 |
| **United Kingdom-18.70%** | **United Kingdom-18.70%** | **United Kingdom-18.70%** |
| Berkeley Group Holdings PLC (The) | 40555 | &nbsp;&nbsp; 2297843 |
| Centrica PLC | 2280116 | &nbsp;&nbsp; 5987529 |
| Computacenter PLC | 32043 | &nbsp;&nbsp; 1470720 |
| Drax Group PLC | 168291 | &nbsp;&nbsp; 2082456 |
| Future PLC | 42441 | &nbsp;&nbsp; 315016 |
| Inchcape PLC | 157000 | &nbsp;&nbsp; 1760644 |
| &nbsp;&nbsp;&nbsp; International Consolidated Airlines Group <br> S.A.<br>| 1512018 | &nbsp;&nbsp; 8711432 |
| IP Group PLC<sup>(a)</sup> | 331954 | &nbsp;&nbsp; 270357 |
| JET2 PLC | 78321 | &nbsp;&nbsp; 1331515 |
| Kainos Group PLC | 45467 | &nbsp;&nbsp; 561529 |
| Moonpig Group PLC | 107134 | &nbsp;&nbsp; 315347 |
| On the Beach Group PLC<sup>(c)</sup> | 48001 | &nbsp;&nbsp; 144617 |
| OSB Group PLC | 175875 | &nbsp;&nbsp; 1474199 |
| Paragon Banking Group PLC | 84793 | &nbsp;&nbsp; 1034788 |
| PayPoint PLC | 21024 | &nbsp;&nbsp; 153772 |
| Sage Group PLC (The) | 416782 | &nbsp;&nbsp; 5480930 |
| Shell PLC | 652110 | &nbsp;&nbsp; 25138258 |
| Standard Chartered PLC | 823706 | &nbsp;&nbsp; 21135786 |
| Trainline PLC<sup>(a)(c)</sup> | 182063 | &nbsp;&nbsp; 511693 |
| Vesuvius PLC | 116565 | &nbsp;&nbsp; 735620 |
| Vistry Group PLC<sup>(a)</sup> | 147248 | &nbsp;&nbsp; 1345594 |
| Vodafone Group PLC | 9035098 | &nbsp;&nbsp; 13344164 |
|  |  | &nbsp;&nbsp; 95603809 |
| **United States-0.92%** | **United States-0.92%** | **United States-0.92%** |
| Aegon Ltd. | 598888 | &nbsp;&nbsp; 4721024 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks & Other Equity Interests <br>(Cost $468,683,820) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks & Other Equity Interests <br>(Cost $468,683,820) | &nbsp;&nbsp; 511088319 |
| **Money Market Funds-0.19%** | **Money Market Funds-0.19%** | **Money Market Funds-0.19%** |
| &nbsp;&nbsp;&nbsp; Invesco Government & Agency Portfolio, <br> Institutional Class, 3.61%<sup>(d)(e)</sup> <br>(Cost $958,769)<br>| 958769 | &nbsp;&nbsp; 958769 |
| &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES <br>(excluding investments purchased with cash collateral <br> from securities on loan)-100.18% <br>(Cost $469,642,589) | &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES <br>(excluding investments purchased with cash collateral <br> from securities on loan)-100.18% <br>(Cost $469,642,589) | &nbsp;&nbsp; 512047088 |
| **Investments Purchased with Cash Collateral from Securities** <br> **on Loan** | **Investments Purchased with Cash Collateral from Securities** <br> **on Loan** | **Investments Purchased with Cash Collateral from Securities** <br> **on Loan** |
| **Money Market Funds-4.90%** | **Money Market Funds-4.90%** | **Money Market Funds-4.90%** |
| &nbsp;&nbsp;&nbsp; Invesco Private Government Fund, <br> 3.65%<sup>(d)(e)(f)</sup><br>| 6951872 | &nbsp;&nbsp; 6951872 |
| Invesco Private Prime Fund, 3.80%<sup>(d)(e)(f)</sup> | 18074653 | &nbsp;&nbsp; 18080075 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Investments Purchased with Cash Collateral from <br> Securities on Loan <br>(Cost $25,031,947) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Investments Purchased with Cash Collateral from <br> Securities on Loan <br>(Cost $25,031,947) | &nbsp;&nbsp; 25031947 |
| &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES-105.08% <br>(Cost $494,674,536) | &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES-105.08% <br>(Cost $494,674,536) | &nbsp;&nbsp; 537079035 |
| OTHER ASSETS LESS LIABILITIES-(5.08)% | OTHER ASSETS LESS LIABILITIES-(5.08)% | &nbsp;&nbsp; (25958375)<br>|
| NET ASSETS-100.00% | NET ASSETS-100.00% | &nbsp;&nbsp; $511120660 |

---

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

------

**Invesco International BuyBack Achievers**<sup>TM</sup> **ETF (IPKW)—(continued)**

January 31, 2026

*(Unaudited)*

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

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

---

| | |
|:---|:---|
| Notes to Schedule of Investments: | Notes to Schedule of Investments: |
| <sup>(a)</sup> | Non-income producing security. |
| <sup>(b)</sup> | All or a portion of this security was out on loan at January 31, 2026. |
| <sup>(c)</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 $4,523,273, which represented less than 1% of the Fund's Net Assets.<br>|
| <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; $20462 | &nbsp;&nbsp;&nbsp; $8762088 | &nbsp;&nbsp;&nbsp; $(7823781)<br>| &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $958769 | &nbsp;&nbsp;&nbsp; $8045 |
| **Investments Purchased** <br> **with Cash Collateral from** <br> **Securities on Loan:**<br>|  |  |  |  |  |  |  |
| &nbsp;&nbsp; Invesco Private <br> Government Fund<br>| &nbsp;&nbsp;&nbsp; 2631740 | &nbsp;&nbsp;&nbsp; 33366220 | &nbsp;&nbsp;&nbsp; (29046088)<br>| &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; 6951872 | &nbsp;&nbsp;&nbsp; 67,874<br> \*<br>|
| &nbsp;&nbsp; Invesco Private Prime <br> Fund<br>| &nbsp;&nbsp;&nbsp; 6858390 | &nbsp;&nbsp;&nbsp; 50166764 | &nbsp;&nbsp;&nbsp; (38945078)<br>| &nbsp;&nbsp;&nbsp; 125 | &nbsp;&nbsp;&nbsp; (126)<br>| &nbsp;&nbsp;&nbsp; 18080075 | &nbsp;&nbsp;&nbsp; 185,988<br> \*<br>|
| &nbsp;&nbsp; Total | &nbsp;&nbsp;&nbsp; $9510592 | &nbsp;&nbsp;&nbsp; $92295072 | &nbsp;&nbsp;&nbsp; $(75814947)<br>| &nbsp;&nbsp;&nbsp; $125 | &nbsp;&nbsp;&nbsp; $(126)<br>| &nbsp;&nbsp;&nbsp; $25990716 | &nbsp;&nbsp;&nbsp; $261907 |

---

&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.

------

Schedule of Investments

**Invesco MSCI Global Climate 500 ETF (KLMT)**

January 31, 2026

*(Unaudited)*

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

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Common Stocks & Other Equity Interests-99.82%** | **Common Stocks & Other Equity Interests-99.82%** | **Common Stocks & Other Equity Interests-99.82%** |
| **Australia-1.66%** | **Australia-1.66%** | **Australia-1.66%** |
| ANZ Group Holdings Ltd. | 74417 | &nbsp;&nbsp; $1904614 |
| BHP Group Ltd. | 121908 | &nbsp;&nbsp; 4224126 |
| Brambles Ltd. | 71008 | &nbsp;&nbsp; 1108885 |
| Commonwealth Bank of Australia | 30705 | &nbsp;&nbsp; 3197780 |
| CSL Ltd. | 13329 | &nbsp;&nbsp; 1689716 |
| Goodman Group | 71693 | &nbsp;&nbsp; 1532210 |
| Macquarie Group Ltd. | 11580 | &nbsp;&nbsp; 1709729 |
| National Australia Bank Ltd. | 65187 | &nbsp;&nbsp; 1969991 |
| Telstra Group Ltd. | 388256 | &nbsp;&nbsp; 1326976 |
| Transurban Group | 157904 | &nbsp;&nbsp; 1536582 |
| Wesfarmers Ltd. | 29923 | &nbsp;&nbsp; 1736567 |
| Westpac Banking Corp. | 74355 | &nbsp;&nbsp; 2009903 |
|  |  | &nbsp;&nbsp; 23947079 |
| **Belgium-0.26%** | **Belgium-0.26%** | **Belgium-0.26%** |
| Anheuser-Busch InBev S.A./N.V. | 25284 | &nbsp;&nbsp; 1826623 |
| Groupe Bruxelles Lambert N.V. | 20475 | &nbsp;&nbsp; 1944425 |
|  |  | &nbsp;&nbsp; 3771048 |
| **Brazil-0.68%** | **Brazil-0.68%** | **Brazil-0.68%** |
| AXIA Energia, Preference Shares<sup>(a)</sup> | 19082 | &nbsp;&nbsp; 192440 |
| AXIA Energia, Preference Shares | 72600 | &nbsp;&nbsp; 801636 |
| Itausa S.A., Preference Shares | 819002 | &nbsp;&nbsp; 2136847 |
| MercadoLibre, Inc.<sup>(a)</sup> | 821 | &nbsp;&nbsp; 1763336 |
| Motiva Infraestrutura de Mobilidade S.A. | 308200 | &nbsp;&nbsp; 986607 |
| NU Holdings Ltd., Class A<sup>(a)</sup> | 71686 | &nbsp;&nbsp; 1272427 |
| Wheaton Precious Metals Corp. | 20494 | &nbsp;&nbsp; 2714927 |
|  |  | &nbsp;&nbsp; 9868220 |
| **Canada-3.06%** | **Canada-3.06%** | **Canada-3.06%** |
| Agnico Eagle Mines Ltd. | 15191 | &nbsp;&nbsp; 2903695 |
| Bank of Montreal<sup>(b)</sup> | 15378 | &nbsp;&nbsp; 2105099 |
| Bank of Nova Scotia (The) | 28941 | &nbsp;&nbsp; 2175678 |
| Brookfield Corp. | 48277 | &nbsp;&nbsp; 2212867 |
| Cameco Corp. | 12281 | &nbsp;&nbsp; 1527337 |
| Canadian Imperial Bank of Commerce | 20794 | &nbsp;&nbsp; 1932369 |
| Canadian National Railway Co. | 14663 | &nbsp;&nbsp; 1418385 |
| Canadian Pacific Kansas City Ltd. | 22108 | &nbsp;&nbsp; 1652529 |
| Celestica, Inc.<sup>(a)</sup> | 2769 | &nbsp;&nbsp; 782411 |
| CGI, Inc., Class A | 13767 | &nbsp;&nbsp; 1186434 |
| Constellation Software, Inc. | 505 | &nbsp;&nbsp; 937152 |
| Element Fleet Management Corp.<sup>(b)</sup> | 48136 | &nbsp;&nbsp; 1226372 |
| Enbridge, Inc. | 46892 | &nbsp;&nbsp; 2301747 |
| Franco-Nevada Corp. | 7299 | &nbsp;&nbsp; 1718040 |
| Loblaw Cos. Ltd. | 28058 | &nbsp;&nbsp; 1269515 |
| Manulife Financial Corp. | 42990 | &nbsp;&nbsp; 1646709 |
| National Bank of Canada | 12493 | &nbsp;&nbsp; 1496872 |
| Rogers Communications, Inc., Class B | 25183 | &nbsp;&nbsp; 955881 |
| Royal Bank of Canada | 25806 | &nbsp;&nbsp; 4320597 |
| Shopify, Inc., Class A<sup>(a)</sup> | 20572 | &nbsp;&nbsp; 2714322 |
| Stantec, Inc. | 10590 | &nbsp;&nbsp; 1055285 |
| TC Energy Corp. | 22977 | &nbsp;&nbsp; 1354712 |
| Thomson Reuters Corp. | 7319 | &nbsp;&nbsp; 813162 |
| Toronto-Dominion Bank (The) | 32481 | &nbsp;&nbsp; 3052492 |
| WSP Global, Inc. | 7367 | &nbsp;&nbsp; 1432054 |
|  |  | &nbsp;&nbsp; 44191716 |
| **China-2.40%** | **China-2.40%** | **China-2.40%** |
| Alibaba Group Holding Ltd. | 300340 | &nbsp;&nbsp; 6391273 |
| Bank of China Ltd., H Shares | 3153357 | &nbsp;&nbsp; 1883711 |
| BYD Co. Ltd., H Shares | 109937 | &nbsp;&nbsp; 1370991 |
| China Construction Bank Corp., H Shares | 2395986 | &nbsp;&nbsp; 2420043 |
| China Life Insurance Co. Ltd., H Shares | 363000 | &nbsp;&nbsp; 1615933 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **China-(continued)** | **China-(continued)** | **China-(continued)** |
| &nbsp;&nbsp;&nbsp; Industrial & Commercial Bank of China Ltd., <br> H Shares<br>| 2112441 | &nbsp;&nbsp; $1752802 |
| Meituan, B Shares<sup>(a)(c)</sup> | 130141 | &nbsp;&nbsp; 1609360 |
| NetEase, Inc. | 49200 | &nbsp;&nbsp; 1276152 |
| PDD Holdings, Inc., ADR<sup>(a)</sup> | 14240 | &nbsp;&nbsp; 1438952 |
| &nbsp;&nbsp;&nbsp; Ping An Insurance (Group) Co. of China <br> Ltd., H Shares<sup>(b)</sup><br>| 328878 | &nbsp;&nbsp; 3051397 |
| Tencent Holdings Ltd. | 117195 | &nbsp;&nbsp; 9010588 |
| Trip.com Group Ltd. | 18974 | &nbsp;&nbsp; 1164899 |
| Xiaomi Corp., B Shares<sup>(a)(b)(c)</sup> | 361335 | &nbsp;&nbsp; 1636111 |
|  |  | &nbsp;&nbsp; 34622212 |
| **Denmark-0.41%** | **Denmark-0.41%** | **Denmark-0.41%** |
| DSV A/S | 4956 | &nbsp;&nbsp; 1398693 |
| Novo Nordisk A/S, Class B | 56838 | &nbsp;&nbsp; 3387444 |
| Novonesis (Novozymes) B, Class B | 18256 | &nbsp;&nbsp; 1122736 |
|  |  | &nbsp;&nbsp; 5908873 |
| **France-2.13%** | **France-2.13%** | **France-2.13%** |
| Air Liquide S.A. | 10514 | &nbsp;&nbsp; 1976020 |
| AXA S.A. | 38320 | &nbsp;&nbsp; 1753699 |
| BNP Paribas S.A. | 20935 | &nbsp;&nbsp; 2271968 |
| Cie de Saint-Gobain S.A. | 11653 | &nbsp;&nbsp; 1154389 |
| Danone S.A. | 20267 | &nbsp;&nbsp; 1593883 |
| ENGIE S.A. | 56821 | &nbsp;&nbsp; 1702628 |
| EssilorLuxottica S.A. | 6189 | &nbsp;&nbsp; 1898817 |
| Hermes International S.C.A. | 690 | &nbsp;&nbsp; 1666163 |
| Legrand S.A. | 9939 | &nbsp;&nbsp; 1592598 |
| L'Oreal S.A. | 5159 | &nbsp;&nbsp; 2378848 |
| LVMH Moet Hennessy Louis Vuitton SE | 4404 | &nbsp;&nbsp; 2852674 |
| Orange S.A. | 99125 | &nbsp;&nbsp; 1849423 |
| Schneider Electric SE | 10875 | &nbsp;&nbsp; 3129196 |
| TotalEnergies SE | 38594 | &nbsp;&nbsp; 2817077 |
| Vinci S.A. | 14743 | &nbsp;&nbsp; 2127509 |
|  |  | &nbsp;&nbsp; 30764892 |
| **Germany-2.34%** | **Germany-2.34%** | **Germany-2.34%** |
| Allianz SE | 7744 | &nbsp;&nbsp; 3422226 |
| Bayerische Motoren Werke AG | 13162 | &nbsp;&nbsp; 1360345 |
| Commerzbank AG | 22154 | &nbsp;&nbsp; 913938 |
| Deutsche Bank AG | 42316 | &nbsp;&nbsp; 1675895 |
| Deutsche Boerse AG | 7243 | &nbsp;&nbsp; 1840766 |
| Deutsche Post AG | 22876 | &nbsp;&nbsp; 1284062 |
| Deutsche Telekom AG | 73821 | &nbsp;&nbsp; 2486294 |
| GEA Group AG | 22307 | &nbsp;&nbsp; 1600801 |
| Infineon Technologies AG | 32012 | &nbsp;&nbsp; 1570504 |
| Mercedes-Benz Group AG | 24407 | &nbsp;&nbsp; 1674130 |
| &nbsp;&nbsp;&nbsp; Muenchener Rueckversicherungs-<br> Gesellschaft AG in Muenchen, Class R<br>| 2979 | &nbsp;&nbsp; 1812053 |
| Rheinmetall AG | 1101 | &nbsp;&nbsp; 2341315 |
| SAP SE | 18197 | &nbsp;&nbsp; 3648375 |
| Siemens AG | 14188 | &nbsp;&nbsp; 4305025 |
| Siemens Energy AG, Class A<sup>(a)</sup> | 15539 | &nbsp;&nbsp; 2657142 |
| Volkswagen AG, Preference Shares | 10622 | &nbsp;&nbsp; 1293177 |
|  |  | &nbsp;&nbsp; 33886048 |
| **Greece-0.13%** | **Greece-0.13%** | **Greece-0.13%** |
| Piraeus Bank S.A.<sup>(a)</sup> | 179706 | &nbsp;&nbsp; 1819330 |
| **Hong Kong-0.51%** | **Hong Kong-0.51%** | **Hong Kong-0.51%** |
| AIA Group Ltd. | 283880 | &nbsp;&nbsp; 3276267 |
| Hong Kong Exchanges & Clearing Ltd. | 43075 | &nbsp;&nbsp; 2375502 |
| Sino Land Co. Ltd. | 1116000 | &nbsp;&nbsp; 1679995 |
|  |  | &nbsp;&nbsp; 7331764 |

---

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

------

**Invesco MSCI Global Climate 500 ETF (KLMT)—(continued)**

January 31, 2026

*(Unaudited)*

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **India-0.87%** | **India-0.87%** | **India-0.87%** |
| Bharti Airtel Ltd. | 83097 | &nbsp;&nbsp; $1782179 |
| HDFC Bank Ltd. | 243777 | &nbsp;&nbsp; 2464896 |
| ICICI Bank Ltd. | 136389 | &nbsp;&nbsp; 2010732 |
| Infosys Ltd. | 99623 | &nbsp;&nbsp; 1781885 |
| Mahindra & Mahindra Ltd. | 31978 | &nbsp;&nbsp; 1194050 |
| Reliance Industries Ltd. | 139276 | &nbsp;&nbsp; 2116290 |
| Tata Consultancy Services Ltd. | 35277 | &nbsp;&nbsp; 1199704 |
|  |  | &nbsp;&nbsp; 12549736 |
| **Ireland-0.22%** | **Ireland-0.22%** | **Ireland-0.22%** |
| AIB Group PLC<sup>(a)</sup> | 113656 | &nbsp;&nbsp; 1275072 |
| Bank of Ireland Group PLC | 60178 | &nbsp;&nbsp; 1227101 |
| Flutter Entertainment PLC<sup>(a)(b)</sup> | 4565 | &nbsp;&nbsp; 753910 |
|  |  | &nbsp;&nbsp; 3256083 |
| **Italy-0.53%** | **Italy-0.53%** | **Italy-0.53%** |
| Ferrari N.V. | 2662 | &nbsp;&nbsp; 891120 |
| Intesa Sanpaolo S.p.A. | 378316 | &nbsp;&nbsp; 2687964 |
| Terna S.p.A. | 160345 | &nbsp;&nbsp; 1743854 |
| UniCredit S.p.A. | 26597 | &nbsp;&nbsp; 2326233 |
|  |  | &nbsp;&nbsp; 7649171 |
| **Japan-4.84%** | **Japan-4.84%** | **Japan-4.84%** |
| Advantest Corp. | 14550 | &nbsp;&nbsp; 2414175 |
| AEON Co. Ltd. | 62900 | &nbsp;&nbsp; 863110 |
| Bridgestone Corp. | 64856 | &nbsp;&nbsp; 1464918 |
| Canon, Inc.<sup>(b)</sup> | 45172 | &nbsp;&nbsp; 1379442 |
| Daiichi Sankyo Co. Ltd. | 42657 | &nbsp;&nbsp; 783993 |
| Daikin Industries Ltd. | 8282 | &nbsp;&nbsp; 995652 |
| Daiwa House Industry Co. Ltd. | 40459 | &nbsp;&nbsp; 1383071 |
| Denso Corp. | 94697 | &nbsp;&nbsp; 1318157 |
| FANUC Corp. | 36079 | &nbsp;&nbsp; 1453434 |
| Fast Retailing Co. Ltd. | 4352 | &nbsp;&nbsp; 1665813 |
| FUJIFILM Holdings Corp. | 48728 | &nbsp;&nbsp; 976509 |
| Fujitsu Ltd. | 47494 | &nbsp;&nbsp; 1323935 |
| Hitachi Ltd. | 82402 | &nbsp;&nbsp; 2868629 |
| Hoya Corp. | 7297 | &nbsp;&nbsp; 1228082 |
| Hulic Co. Ltd. | 112494 | &nbsp;&nbsp; 1344928 |
| KDDI Corp. | 86798 | &nbsp;&nbsp; 1470246 |
| Keyence Corp. | 4383 | &nbsp;&nbsp; 1613162 |
| Komatsu Ltd. | 37092 | &nbsp;&nbsp; 1424306 |
| Kyocera Corp. | 79607 | &nbsp;&nbsp; 1198200 |
| Mitsubishi Corp. | 72476 | &nbsp;&nbsp; 1931663 |
| Mitsubishi Electric Corp. | 54219 | &nbsp;&nbsp; 1700483 |
| Mitsubishi Estate Co. Ltd. | 57100 | &nbsp;&nbsp; 1459963 |
| Mitsubishi Heavy Industries Ltd. | 63486 | &nbsp;&nbsp; 1875337 |
| Mitsubishi UFJ Financial Group, Inc. | 208039 | &nbsp;&nbsp; 3779875 |
| Mitsui Fudosan Co. Ltd. | 100500 | &nbsp;&nbsp; 1156159 |
| Mizuho Financial Group, Inc. | 54674 | &nbsp;&nbsp; 2381527 |
| Murata Manufacturing Co. Ltd. | 57936 | &nbsp;&nbsp; 1180817 |
| NEC Corp. | 37612 | &nbsp;&nbsp; 1279167 |
| Nintendo Co. Ltd. | 20869 | &nbsp;&nbsp; 1296513 |
| Recruit Holdings Co. Ltd. | 29907 | &nbsp;&nbsp; 1580421 |
| Secom Co. Ltd. | 34776 | &nbsp;&nbsp; 1278099 |
| Sekisui House Ltd.<sup>(b)</sup> | 66610 | &nbsp;&nbsp; 1489336 |
| SoftBank Corp. | 1175037 | &nbsp;&nbsp; 1602357 |
| SoftBank Group Corp. | 66720 | &nbsp;&nbsp; 1827854 |
| Sony Group Corp. | 112975 | &nbsp;&nbsp; 2498936 |
| Sumitomo Mitsui Financial Group, Inc. | 74651 | &nbsp;&nbsp; 2635517 |
| Takeda Pharmaceutical Co. Ltd. | 63669 | &nbsp;&nbsp; 2174299 |
| Tokio Marine Holdings, Inc. | 41554 | &nbsp;&nbsp; 1553844 |
| Tokyo Electron Ltd. | 9198 | &nbsp;&nbsp; 2458835 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Japan-(continued)** | **Japan-(continued)** | **Japan-(continued)** |
| Toyota Motor Corp. | 182096 | &nbsp;&nbsp; $4140676 |
| Toyota Tsusho Corp. | 40800 | &nbsp;&nbsp; 1490721 |
|  |  | &nbsp;&nbsp; 69942161 |
| **Mexico-0.33%** | **Mexico-0.33%** | **Mexico-0.33%** |
| America Movil S.A.B. de C.V., Class B | 1073200 | &nbsp;&nbsp; 1114218 |
| &nbsp;&nbsp;&nbsp; Grupo Financiero Banorte S.A.B. de C.V., <br> Class O<br>| 131625 | &nbsp;&nbsp; 1499115 |
| Southern Copper Corp. | 11348 | &nbsp;&nbsp; 2159751 |
|  |  | &nbsp;&nbsp; 4773084 |
| **Netherlands-1.36%** | **Netherlands-1.36%** | **Netherlands-1.36%** |
| argenx SE<sup>(a)</sup> | 1268 | &nbsp;&nbsp; 1070221 |
| ASML Holding N.V. | 6627 | &nbsp;&nbsp; 9536971 |
| Euronext N.V.<sup>(c)</sup> | 7687 | &nbsp;&nbsp; 1080500 |
| ING Groep N.V. | 74515 | &nbsp;&nbsp; 2205489 |
| Koninklijke Ahold Delhaize N.V. | 31406 | &nbsp;&nbsp; 1232435 |
| Koninklijke KPN N.V. | 306596 | &nbsp;&nbsp; 1507006 |
| Magnum Ice Cream Co. N.V. (The)<sup>(a)</sup> | 10091 | &nbsp;&nbsp; 179999 |
| NXP Semiconductors N.V. | 6401 | &nbsp;&nbsp; 1447522 |
| Prosus N.V.<sup>(a)</sup> | 25344 | &nbsp;&nbsp; 1462599 |
|  |  | &nbsp;&nbsp; 19722742 |
| **New Zealand-0.09%** | **New Zealand-0.09%** | **New Zealand-0.09%** |
| Meridian Energy Ltd. | 376216 | &nbsp;&nbsp; 1282100 |
| **Norway-0.24%** | **Norway-0.24%** | **Norway-0.24%** |
| Gjensidige Forsikring ASA | 36833 | &nbsp;&nbsp; 1051796 |
| Mowi ASA | 46915 | &nbsp;&nbsp; 1085032 |
| Orkla ASA | 113951 | &nbsp;&nbsp; 1360273 |
|  |  | &nbsp;&nbsp; 3497101 |
| **Portugal-0.12%** | **Portugal-0.12%** | **Portugal-0.12%** |
| EDP S.A. | 349305 | &nbsp;&nbsp; 1792633 |
| **Romania-0.10%** | **Romania-0.10%** | **Romania-0.10%** |
| NEPI Rockcastle N.V.<sup>(a)</sup> | 156413 | &nbsp;&nbsp; 1434721 |
| **Singapore-0.93%** | **Singapore-0.93%** | **Singapore-0.93%** |
| CapitaLand Ascendas REIT | 747286 | &nbsp;&nbsp; 1676406 |
| CapitaLand Integrated Commercial Trust | 919212 | &nbsp;&nbsp; 1729950 |
| CapitaLand Investment Ltd.<sup>(b)</sup> | 714500 | &nbsp;&nbsp; 1734122 |
| DBS Group Holdings Ltd. | 52681 | &nbsp;&nbsp; 2454719 |
| Keppel Ltd. | 188900 | &nbsp;&nbsp; 1629044 |
| Oversea-Chinese Banking Corp. Ltd. | 120276 | &nbsp;&nbsp; 2012256 |
| Sea Ltd., ADR<sup>(a)</sup> | 7716 | &nbsp;&nbsp; 898837 |
| Singapore Telecommunications Ltd. | 370870 | &nbsp;&nbsp; 1341625 |
|  |  | &nbsp;&nbsp; 13476959 |
| **South Africa-0.08%** | **South Africa-0.08%** | **South Africa-0.08%** |
| Naspers Ltd. | 18826 | &nbsp;&nbsp; 1160982 |
| **South Korea-1.41%** | **South Korea-1.41%** | **South Korea-1.41%** |
| Industrial Bank of Korea | 85167 | &nbsp;&nbsp; 1308498 |
| KB Financial Group, Inc. | 11208 | &nbsp;&nbsp; 1049060 |
| Samsung Electronics Co. Ltd. | 87957 | &nbsp;&nbsp; 9717030 |
| Shinhan Financial Group Co. Ltd. | 17777 | &nbsp;&nbsp; 1038955 |
| SK hynix, Inc. | 9683 | &nbsp;&nbsp; 6045847 |
| Woori Financial Group, Inc. | 58644 | &nbsp;&nbsp; 1226766 |
|  |  | &nbsp;&nbsp; 20386156 |
| **Spain-0.96%** | **Spain-0.96%** | **Spain-0.96%** |
| Amadeus IT Group S.A. | 17545 | &nbsp;&nbsp; 1180602 |
| Banco Bilbao Vizcaya Argentaria S.A. | 106515 | &nbsp;&nbsp; 2713551 |
| Banco Santander S.A. | 278587 | &nbsp;&nbsp; 3569923 |
| Iberdrola S.A. | 152926 | &nbsp;&nbsp; 3450671 |

---

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

------

**Invesco MSCI Global Climate 500 ETF (KLMT)—(continued)**

January 31, 2026

*(Unaudited)*

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Spain-(continued)** | **Spain-(continued)** | **Spain-(continued)** |
| &nbsp;&nbsp;&nbsp; Iberdrola S.A., Rts., expiring <br> 03/31/2026<sup>(a)(b)</sup><br>| 152926 | &nbsp;&nbsp; $47156 |
| Industria de Diseno Textil S.A. | 26979 | &nbsp;&nbsp; 1761896 |
| Telefonica S.A.<sup>(b)</sup> | 273154 | &nbsp;&nbsp; 1109822 |
|  |  | &nbsp;&nbsp; 13833621 |
| **Sweden-0.83%** | **Sweden-0.83%** | **Sweden-0.83%** |
| Assa Abloy AB, Class B | 39742 | &nbsp;&nbsp; 1616955 |
| Atlas Copco AB, Class A | 108280 | &nbsp;&nbsp; 2246908 |
| Boliden AB<sup>(a)</sup> | 37602 | &nbsp;&nbsp; 2649580 |
| Sandvik AB | 53590 | &nbsp;&nbsp; 2129281 |
| Spotify Technology S.A.<sup>(a)</sup> | 2798 | &nbsp;&nbsp; 1399979 |
| Volvo AB, Class B | 54186 | &nbsp;&nbsp; 1981269 |
|  |  | &nbsp;&nbsp; 12023972 |
| **Switzerland-2.05%** | **Switzerland-2.05%** | **Switzerland-2.05%** |
| ABB Ltd. | 40159 | &nbsp;&nbsp; 3471084 |
| &nbsp;&nbsp;&nbsp; Chocoladefabriken Lindt & Spruengli AG, <br> PC<br>| 74 | &nbsp;&nbsp; 1067633 |
| Cie Financiere Richemont S.A. | 10824 | &nbsp;&nbsp; 2109229 |
| Givaudan S.A. | 332 | &nbsp;&nbsp; 1288342 |
| Lonza Group AG | 1833 | &nbsp;&nbsp; 1250284 |
| Nestle S.A. | 46445 | &nbsp;&nbsp; 4449353 |
| Roche Holding AG | 12800 | &nbsp;&nbsp; 5843348 |
| Schindler Holding AG, PC | 3832 | &nbsp;&nbsp; 1484309 |
| Sika AG | 7499 | &nbsp;&nbsp; 1444594 |
| TE Connectivity PLC | 9027 | &nbsp;&nbsp; 2011035 |
| UBS Group AG | 61686 | &nbsp;&nbsp; 2930068 |
| Zurich Insurance Group AG | 3261 | &nbsp;&nbsp; 2328985 |
|  |  | &nbsp;&nbsp; 29678264 |
| **Taiwan-2.86%** | **Taiwan-2.86%** | **Taiwan-2.86%** |
| Cathay Financial Holding Co. Ltd. | 564116 | &nbsp;&nbsp; 1343996 |
| Chang Hwa Commercial Bank Ltd. | 2096000 | &nbsp;&nbsp; 1356749 |
| CTBC Financial Holding Co. Ltd. | 898000 | &nbsp;&nbsp; 1446809 |
| Delta Electronics, Inc. | 48000 | &nbsp;&nbsp; 1831793 |
| E.Sun Financial Holding Co. Ltd. | 1195356 | &nbsp;&nbsp; 1265803 |
| First Financial Holding Co. Ltd. | 1528775 | &nbsp;&nbsp; 1395647 |
| Fubon Financial Holding Co. Ltd. | 451978 | &nbsp;&nbsp; 1297891 |
| Hon Hai Precision Industry Co. Ltd. | 268700 | &nbsp;&nbsp; 1857368 |
| MediaTek, Inc. | 33213 | &nbsp;&nbsp; 1842343 |
| Mega Financial Holding Co. Ltd. | 1096000 | &nbsp;&nbsp; 1347697 |
| SinoPac Financial Holdings Co. Ltd. | 1468255 | &nbsp;&nbsp; 1329922 |
| &nbsp;&nbsp;&nbsp; Taiwan Cooperative Financial Holding Co. <br> Ltd.<br>| 2098574 | &nbsp;&nbsp; 1568361 |
| &nbsp;&nbsp;&nbsp; Taiwan Semiconductor Manufacturing Co. <br> Ltd.<br>| 391148 | &nbsp;&nbsp; 21628895 |
| Yuanta Financial Holding Co. Ltd. | 1300379 | &nbsp;&nbsp; 1771417 |
|  |  | &nbsp;&nbsp; 41284691 |
| **Thailand-0.08%** | **Thailand-0.08%** | **Thailand-0.08%** |
| SCB X PCL, NVDR | 259500 | &nbsp;&nbsp; 1117095 |
| **United Kingdom-3.31%** | **United Kingdom-3.31%** | **United Kingdom-3.31%** |
| 3i Group PLC | 25800 | &nbsp;&nbsp; 1188609 |
| AngloGold Ashanti PLC | 16213 | &nbsp;&nbsp; 1472158 |
| AstraZeneca PLC | 26797 | &nbsp;&nbsp; 5006893 |
| Aviva PLC | 199224 | &nbsp;&nbsp; 1741757 |
| Barclays PLC | 295207 | &nbsp;&nbsp; 1975849 |
| Coca-Cola Europacific Partners PLC | 12439 | &nbsp;&nbsp; 1140656 |
| Compass Group PLC | 49260 | &nbsp;&nbsp; 1481294 |
| Diageo PLC | 57547 | &nbsp;&nbsp; 1327949 |
| Haleon PLC | 281951 | &nbsp;&nbsp; 1478781 |
| HSBC Holdings PLC | 292901 | &nbsp;&nbsp; 5181777 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **United Kingdom-(continued)** | **United Kingdom-(continued)** | **United Kingdom-(continued)** |
| Informa PLC | 100663 | &nbsp;&nbsp; $1218246 |
| Lloyds Banking Group PLC | 1245149 | &nbsp;&nbsp; 1864564 |
| London Stock Exchange Group PLC | 12564 | &nbsp;&nbsp; 1405411 |
| National Grid PLC<sup>(b)</sup> | 142070 | &nbsp;&nbsp; 2420588 |
| NatWest Group PLC | 197027 | &nbsp;&nbsp; 1800979 |
| Reckitt Benckiser Group PLC | 17975 | &nbsp;&nbsp; 1503913 |
| RELX PLC | 48043 | &nbsp;&nbsp; 1708077 |
| Severn Trent PLC | 35040 | &nbsp;&nbsp; 1411421 |
| Shell PLC | 97069 | &nbsp;&nbsp; 3741923 |
| Smiths Group PLC | 44374 | &nbsp;&nbsp; 1528229 |
| SSE PLC | 47749 | &nbsp;&nbsp; 1591580 |
| Tesco PLC | 204182 | &nbsp;&nbsp; 1191482 |
| Unilever PLC | 44848 | &nbsp;&nbsp; 3059682 |
| United Utilities Group PLC | 79069 | &nbsp;&nbsp; 1357960 |
|  |  | &nbsp;&nbsp; 47799778 |
| **United States-65.03%** | **United States-65.03%** | **United States-65.03%** |
| 3M Co. | 11258 | &nbsp;&nbsp; 1724275 |
| Abbott Laboratories | 31084 | &nbsp;&nbsp; 3397481 |
| AbbVie, Inc. | 28786 | &nbsp;&nbsp; 6419566 |
| Accenture PLC, Class A | 11390 | &nbsp;&nbsp; 3002860 |
| Adobe, Inc.<sup>(a)</sup> | 7474 | &nbsp;&nbsp; 2191751 |
| Advanced Micro Devices, Inc.<sup>(a)</sup> | 26243 | &nbsp;&nbsp; 6212505 |
| AECOM | 9468 | &nbsp;&nbsp; 912999 |
| Aflac, Inc. | 12062 | &nbsp;&nbsp; 1338279 |
| Agilent Technologies, Inc. | 8083 | &nbsp;&nbsp; 1081910 |
| Airbnb, Inc., Class A<sup>(a)</sup> | 9633 | &nbsp;&nbsp; 1246221 |
| Allstate Corp. (The) | 5957 | &nbsp;&nbsp; 1185383 |
| Alnylam Pharmaceuticals, Inc.<sup>(a)</sup> | 2438 | &nbsp;&nbsp; 824190 |
| Alphabet, Inc., Class A | 96698 | &nbsp;&nbsp; 32683924 |
| Alphabet, Inc., Class C | 68386 | &nbsp;&nbsp; 23150713 |
| Amazon.com, Inc.<sup>(a)</sup> | 147697 | &nbsp;&nbsp; 35343892 |
| Amcor PLC<sup>(b)</sup> | 28342 | &nbsp;&nbsp; 1254134 |
| American Express Co. | 10611 | &nbsp;&nbsp; 3736876 |
| American Tower Corp. | 11018 | &nbsp;&nbsp; 1975307 |
| AMETEK, Inc. | 7159 | &nbsp;&nbsp; 1603473 |
| Amgen, Inc. | 9727 | &nbsp;&nbsp; 3325467 |
| Amphenol Corp., Class A | 23505 | &nbsp;&nbsp; 3386600 |
| Analog Devices, Inc. | 9834 | &nbsp;&nbsp; 3057194 |
| Aon PLC, Class A | 4967 | &nbsp;&nbsp; 1736662 |
| Apollo Global Management, Inc. | 9911 | &nbsp;&nbsp; 1333426 |
| Apple, Inc. | 228044 | &nbsp;&nbsp; 59172857 |
| Applied Materials, Inc. | 15947 | &nbsp;&nbsp; 5140037 |
| AppLovin Corp., Class A<sup>(a)</sup> | 3828 | &nbsp;&nbsp; 1811065 |
| Arista Networks, Inc.<sup>(a)</sup> | 21342 | &nbsp;&nbsp; 3025015 |
| Arthur J. Gallagher & Co. | 5610 | &nbsp;&nbsp; 1398966 |
| AT&T, Inc. | 136035 | &nbsp;&nbsp; 3565477 |
| Autodesk, Inc.<sup>(a)</sup> | 5171 | &nbsp;&nbsp; 1307591 |
| Automatic Data Processing, Inc. | 8546 | &nbsp;&nbsp; 2109324 |
| AutoZone, Inc.<sup>(a)</sup> | 360 | &nbsp;&nbsp; 1333544 |
| AvalonBay Communities, Inc. | 8357 | &nbsp;&nbsp; 1484788 |
| Axon Enterprise, Inc.<sup>(a)</sup> | 1859 | &nbsp;&nbsp; 898975 |
| Baker Hughes Co., Class A | 26740 | &nbsp;&nbsp; 1498510 |
| Bank of America Corp. | 114803 | &nbsp;&nbsp; 6107520 |
| Bank of New York Mellon Corp. (The) | 17130 | &nbsp;&nbsp; 2054230 |
| Becton, Dickinson and Co. | 8165 | &nbsp;&nbsp; 1661414 |
| BlackRock, Inc. | 2702 | &nbsp;&nbsp; 3023376 |
| Blackstone, Inc., Class A | 14107 | &nbsp;&nbsp; 2009119 |
| Block, Inc., Class A<sup>(a)</sup> | 14281 | &nbsp;&nbsp; 863001 |
| Booking Holdings, Inc. | 605 | &nbsp;&nbsp; 3026113 |
| Boston Scientific Corp.<sup>(a)</sup> | 30084 | &nbsp;&nbsp; 2813757 |
| BP PLC | 349345 | &nbsp;&nbsp; 2221357 |
| Bristol-Myers Squibb Co. | 41322 | &nbsp;&nbsp; 2274776 |

---

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

------

**Invesco MSCI Global Climate 500 ETF (KLMT)—(continued)**

January 31, 2026

*(Unaudited)*

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **United States-(continued)** | **United States-(continued)** | **United States-(continued)** |
| Broadcom, Inc. | 69226 | &nbsp;&nbsp; $22934574 |
| Broadridge Financial Solutions, Inc. | 5729 | &nbsp;&nbsp; 1129243 |
| Cadence Design Systems, Inc.<sup>(a)</sup> | 5171 | &nbsp;&nbsp; 1532478 |
| Capital One Financial Corp. | 12457 | &nbsp;&nbsp; 2727211 |
| Cardinal Health, Inc. | 6375 | &nbsp;&nbsp; 1369860 |
| Carrier Global Corp. | 20801 | &nbsp;&nbsp; 1239324 |
| Caterpillar, Inc. | 8064 | &nbsp;&nbsp; 5300951 |
| CBRE Group, Inc., Class A<sup>(a)</sup> | 7671 | &nbsp;&nbsp; 1306601 |
| Cencora, Inc. | 4848 | &nbsp;&nbsp; 1741499 |
| Charles Schwab Corp. (The) | 29988 | &nbsp;&nbsp; 3116353 |
| Cheniere Energy, Inc. | 5345 | &nbsp;&nbsp; 1130574 |
| Chevron Corp. | 33182 | &nbsp;&nbsp; 5869896 |
| Chipotle Mexican Grill, Inc.<sup>(a)</sup> | 33016 | &nbsp;&nbsp; 1283332 |
| Chubb Ltd. | 7624 | &nbsp;&nbsp; 2360085 |
| Cigna Group (The) | 5167 | &nbsp;&nbsp; 1416326 |
| Cintas Corp. | 7673 | &nbsp;&nbsp; 1468536 |
| Cisco Systems, Inc. | 70815 | &nbsp;&nbsp; 5546231 |
| Citigroup, Inc. | 32799 | &nbsp;&nbsp; 3795172 |
| Cloudflare, Inc., Class A<sup>(a)</sup> | 6307 | &nbsp;&nbsp; 1118546 |
| CME Group, Inc., Class A | 7813 | &nbsp;&nbsp; 2258426 |
| Coca-Cola Co. (The) | 76362 | &nbsp;&nbsp; 5712641 |
| &nbsp;&nbsp;&nbsp; Cognizant Technology Solutions Corp., <br> Class A<br>| 16276 | &nbsp;&nbsp; 1335609 |
| Coinbase Global, Inc., Class A<sup>(a)</sup> | 3710 | &nbsp;&nbsp; 722485 |
| Colgate-Palmolive Co. | 23176 | &nbsp;&nbsp; 2092561 |
| Comcast Corp., Class A | 82666 | &nbsp;&nbsp; 2459314 |
| ConocoPhillips | 29662 | &nbsp;&nbsp; 3091670 |
| Consolidated Edison, Inc. | 16182 | &nbsp;&nbsp; 1725487 |
| Constellation Energy Corp. | 5346 | &nbsp;&nbsp; 1500515 |
| Corning, Inc. | 20585 | &nbsp;&nbsp; 2125401 |
| Corteva, Inc. | 20735 | &nbsp;&nbsp; 1509508 |
| Costco Wholesale Corp. | 6982 | &nbsp;&nbsp; 6564826 |
| Coterra Energy, Inc. | 44464 | &nbsp;&nbsp; 1282786 |
| CRH PLC | 12241 | &nbsp;&nbsp; 1498421 |
| CrowdStrike Holdings, Inc., Class A<sup>(a)</sup> | 4281 | &nbsp;&nbsp; 1889655 |
| CSX Corp. | 42445 | &nbsp;&nbsp; 1602723 |
| Cummins, Inc. | 3925 | &nbsp;&nbsp; 2271869 |
| CVS Health Corp. | 22983 | &nbsp;&nbsp; 1712693 |
| Danaher Corp. | 11115 | &nbsp;&nbsp; 2432962 |
| Datadog, Inc., Class A<sup>(a)</sup> | 6262 | &nbsp;&nbsp; 809802 |
| Deere & Co. | 5044 | &nbsp;&nbsp; 2663232 |
| Dell Technologies, Inc., Class C | 7254 | &nbsp;&nbsp; 830148 |
| Devon Energy Corp. | 37073 | &nbsp;&nbsp; 1490705 |
| Diamondback Energy, Inc. | 10955 | &nbsp;&nbsp; 1796072 |
| Digital Realty Trust, Inc. | 8314 | &nbsp;&nbsp; 1379708 |
| DoorDash, Inc., Class A<sup>(a)</sup> | 7588 | &nbsp;&nbsp; 1552657 |
| Dover Corp. | 8209 | &nbsp;&nbsp; 1654031 |
| DuPont de Nemours, Inc. | 28020 | &nbsp;&nbsp; 1230638 |
| Eaton Corp. PLC | 8050 | &nbsp;&nbsp; 2828931 |
| eBay, Inc. | 12246 | &nbsp;&nbsp; 1117080 |
| Ecolab, Inc. | 7442 | &nbsp;&nbsp; 2098570 |
| Edwards Lifesciences Corp.<sup>(a)</sup> | 13248 | &nbsp;&nbsp; 1077857 |
| Elevance Health, Inc. | 4756 | &nbsp;&nbsp; 1644339 |
| Eli Lilly and Co. | 12466 | &nbsp;&nbsp; 12929112 |
| Emerson Electric Co. | 13768 | &nbsp;&nbsp; 2023345 |
| EOG Resources, Inc. | 16395 | &nbsp;&nbsp; 1838371 |
| Equinix, Inc. | 2116 | &nbsp;&nbsp; 1737088 |
| Equity Residential | 23313 | &nbsp;&nbsp; 1452866 |
| Exelon Corp. | 34257 | &nbsp;&nbsp; 1534028 |
| Experian PLC | 30960 | &nbsp;&nbsp; 1175945 |
| Exxon Mobil Corp. | 71255 | &nbsp;&nbsp; 10075457 |
| Ferrovial SE | 22423 | &nbsp;&nbsp; 1520059 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **United States-(continued)** | **United States-(continued)** | **United States-(continued)** |
| Fiserv, Inc.<sup>(a)</sup> | 21743 | &nbsp;&nbsp; $1385681 |
| Ford Motor Co. | 100111 | &nbsp;&nbsp; 1389541 |
| Fortinet, Inc.<sup>(a)</sup> | 15142 | &nbsp;&nbsp; 1230439 |
| Freeport-McMoRan, Inc. | 39006 | &nbsp;&nbsp; 2349331 |
| GE HealthCare Technologies, Inc. | 12723 | &nbsp;&nbsp; 1004735 |
| GE Vernova, Inc. | 4700 | &nbsp;&nbsp; 3413939 |
| General Electric Co. | 18310 | &nbsp;&nbsp; 5617325 |
| General Mills, Inc. | 32619 | &nbsp;&nbsp; 1508955 |
| General Motors Co. | 20865 | &nbsp;&nbsp; 1752660 |
| Gilead Sciences, Inc. | 22503 | &nbsp;&nbsp; 3194301 |
| Goldman Sachs Group, Inc. (The) | 5306 | &nbsp;&nbsp; 4963285 |
| GSK PLC | 88185 | &nbsp;&nbsp; 2287113 |
| HCA Healthcare, Inc. | 2873 | &nbsp;&nbsp; 1402800 |
| Healthpeak Properties, Inc. | 63031 | &nbsp;&nbsp; 1086654 |
| HEICO Corp., Class A | 5587 | &nbsp;&nbsp; 1422394 |
| Hilton Worldwide Holdings, Inc. | 6738 | &nbsp;&nbsp; 2011360 |
| Home Depot, Inc. (The) | 17066 | &nbsp;&nbsp; 6392753 |
| Howmet Aerospace, Inc. | 9410 | &nbsp;&nbsp; 1958033 |
| HP, Inc. | 35069 | &nbsp;&nbsp; 681741 |
| Ingersoll Rand, Inc. | 16847 | &nbsp;&nbsp; 1450358 |
| Intel Corp.<sup>(a)</sup> | 74561 | &nbsp;&nbsp; 3464850 |
| Intercontinental Exchange, Inc. | 11866 | &nbsp;&nbsp; 2062074 |
| International Business Machines Corp. | 15032 | &nbsp;&nbsp; 4610314 |
| Intuit, Inc. | 4766 | &nbsp;&nbsp; 2377853 |
| Intuitive Surgical, Inc.<sup>(a)</sup> | 5908 | &nbsp;&nbsp; 2978932 |
| IQVIA Holdings, Inc.<sup>(a)</sup> | 5089 | &nbsp;&nbsp; 1171233 |
| Iron Mountain, Inc. | 9402 | &nbsp;&nbsp; 866206 |
| Jacobs Solutions, Inc. | 6806 | &nbsp;&nbsp; 920580 |
| Johnson & Johnson | 41096 | &nbsp;&nbsp; 9339066 |
| Johnson Controls International PLC | 15411 | &nbsp;&nbsp; 1837916 |
| JPMorgan Chase & Co. | 43256 | &nbsp;&nbsp; 13231578 |
| Keurig Dr Pepper, Inc. | 43820 | &nbsp;&nbsp; 1202421 |
| Keysight Technologies, Inc.<sup>(a)</sup> | 6165 | &nbsp;&nbsp; 1333674 |
| Kimberly-Clark Corp. | 10746 | &nbsp;&nbsp; 1074493 |
| Kimco Realty Corp. | 68986 | &nbsp;&nbsp; 1454225 |
| Kinder Morgan, Inc. | 45895 | &nbsp;&nbsp; 1399339 |
| KKR & Co., Inc., Class A | 12428 | &nbsp;&nbsp; 1420023 |
| KLA Corp. | 2646 | &nbsp;&nbsp; 3778329 |
| Kraft Heinz Co. (The) | 53353 | &nbsp;&nbsp; 1266600 |
| Lam Research Corp. | 25043 | &nbsp;&nbsp; 5846539 |
| Linde PLC | 8585 | &nbsp;&nbsp; 3923087 |
| Lowe's Cos., Inc. | 9737 | &nbsp;&nbsp; 2600363 |
| Marriott International, Inc., Class A | 5826 | &nbsp;&nbsp; 1836938 |
| Marsh & McLennan Cos., Inc. | 12386 | &nbsp;&nbsp; 2330921 |
| Marvell Technology, Inc. | 17154 | &nbsp;&nbsp; 1353794 |
| Mastercard, Inc., Class A | 14327 | &nbsp;&nbsp; 7719244 |
| McDonald's Corp. | 12961 | &nbsp;&nbsp; 4082715 |
| McKesson Corp. | 2434 | &nbsp;&nbsp; 2023165 |
| Medtronic PLC | 25905 | &nbsp;&nbsp; 2667179 |
| Merck & Co., Inc. | 44243 | &nbsp;&nbsp; 4878676 |
| Meta Platforms, Inc., Class A | 33790 | &nbsp;&nbsp; 24210535 |
| MetLife, Inc. | 14421 | &nbsp;&nbsp; 1137529 |
| Micron Technology, Inc. | 18398 | &nbsp;&nbsp; 7632962 |
| Microsoft Corp. | 108889 | &nbsp;&nbsp; 46853848 |
| Mondelez International, Inc., Class A | 33281 | &nbsp;&nbsp; 1945940 |
| Moody's Corp. | 4047 | &nbsp;&nbsp; 2086471 |
| Morgan Stanley | 21316 | &nbsp;&nbsp; 3896565 |
| Motorola Solutions, Inc. | 3526 | &nbsp;&nbsp; 1419356 |
| Nasdaq, Inc. | 18152 | &nbsp;&nbsp; 1758747 |
| Netflix, Inc.<sup>(a)</sup> | 68174 | &nbsp;&nbsp; 5691847 |
| Newmont Corp. | 24933 | &nbsp;&nbsp; 2801223 |
| NextEra Energy, Inc. | 34814 | &nbsp;&nbsp; 3060151 |

---

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

------

**Invesco MSCI Global Climate 500 ETF (KLMT)—(continued)**

January 31, 2026

*(Unaudited)*

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **United States-(continued)** | **United States-(continued)** | **United States-(continued)** |
| NIKE, Inc., Class B | 23539 | &nbsp;&nbsp; $1454946 |
| Norfolk Southern Corp. | 5150 | &nbsp;&nbsp; 1499886 |
| Novartis AG | 34843 | &nbsp;&nbsp; 5189790 |
| NVIDIA Corp. | 373557 | &nbsp;&nbsp; 71397949 |
| Occidental Petroleum Corp. | 30578 | &nbsp;&nbsp; 1387935 |
| Omnicom Group, Inc. | 13476 | &nbsp;&nbsp; 1038191 |
| ONEOK, Inc.<sup>(b)</sup> | 19539 | &nbsp;&nbsp; 1547293 |
| Oracle Corp. | 27424 | &nbsp;&nbsp; 4513442 |
| O'Reilly Automotive, Inc.<sup>(a)</sup> | 16978 | &nbsp;&nbsp; 1670805 |
| Otis Worldwide Corp. | 15678 | &nbsp;&nbsp; 1339215 |
| PACCAR, Inc. | 15816 | &nbsp;&nbsp; 1943945 |
| Palantir Technologies, Inc., Class A<sup>(a)</sup> | 35865 | &nbsp;&nbsp; 5257450 |
| Palo Alto Networks, Inc.<sup>(a)</sup> | 12431 | &nbsp;&nbsp; 2199914 |
| Parker-Hannifin Corp. | 3480 | &nbsp;&nbsp; 3256723 |
| PayPal Holdings, Inc. | 20216 | &nbsp;&nbsp; 1065181 |
| PepsiCo, Inc. | 26320 | &nbsp;&nbsp; 4043542 |
| Pfizer, Inc. | 111334 | &nbsp;&nbsp; 2943671 |
| PNC Financial Services Group, Inc. (The) | 8025 | &nbsp;&nbsp; 1791983 |
| PPG Industries, Inc. | 14496 | &nbsp;&nbsp; 1676173 |
| Procter & Gamble Co. (The) | 40776 | &nbsp;&nbsp; 6188574 |
| Progressive Corp. (The) | 10690 | &nbsp;&nbsp; 2223520 |
| Prologis, Inc. | 19787 | &nbsp;&nbsp; 2583391 |
| PTC, Inc.<sup>(a)</sup> | 6586 | &nbsp;&nbsp; 1028272 |
| QUALCOMM, Inc. | 19515 | &nbsp;&nbsp; 2958279 |
| Quanta Services, Inc. | 3395 | &nbsp;&nbsp; 1611369 |
| Regency Centers Corp. | 21412 | &nbsp;&nbsp; 1560292 |
| Regeneron Pharmaceuticals, Inc. | 2016 | &nbsp;&nbsp; 1494763 |
| Republic Services, Inc. | 7087 | &nbsp;&nbsp; 1524343 |
| Robinhood Markets, Inc., Class A<sup>(a)</sup> | 13245 | &nbsp;&nbsp; 1317613 |
| Roblox Corp., Class A<sup>(a)</sup> | 11482 | &nbsp;&nbsp; 755056 |
| Royal Caribbean Cruises Ltd. | 5023 | &nbsp;&nbsp; 1630717 |
| S&P Global, Inc. | 6196 | &nbsp;&nbsp; 3270187 |
| Salesforce, Inc. | 16940 | &nbsp;&nbsp; 3596193 |
| Sanofi S.A. | 24572 | &nbsp;&nbsp; 2326132 |
| Seagate Technology Holdings PLC | 4935 | &nbsp;&nbsp; 2011950 |
| Sempra | 16263 | &nbsp;&nbsp; 1415044 |
| ServiceNow, Inc.<sup>(a)</sup> | 18922 | &nbsp;&nbsp; 2214063 |
| Sherwin-Williams Co. (The) | 4717 | &nbsp;&nbsp; 1672837 |
| Simon Property Group, Inc. | 9196 | &nbsp;&nbsp; 1759287 |
| SLB Ltd. | 42218 | &nbsp;&nbsp; 2042507 |
| Snowflake, Inc., Class A<sup>(a)</sup> | 6030 | &nbsp;&nbsp; 1161981 |
| Starbucks Corp. | 21225 | &nbsp;&nbsp; 1951639 |
| Strategy, Inc., Class A<sup>(a)</sup> | 4608 | &nbsp;&nbsp; 689864 |
| Stryker Corp. | 5963 | &nbsp;&nbsp; 2203686 |
| Super Micro Computer, Inc.<sup>(a)(b)</sup> | 13109 | &nbsp;&nbsp; 381603 |
| Swiss Re AG<sup>(a)(b)</sup> | 7583 | &nbsp;&nbsp; 1216361 |
| Synopsys, Inc.<sup>(a)</sup> | 3972 | &nbsp;&nbsp; 1847437 |
| Sysco Corp. | 16427 | &nbsp;&nbsp; 1377404 |
| Take-Two Interactive Software, Inc.<sup>(a)</sup> | 5383 | &nbsp;&nbsp; 1185875 |
| Target Corp. | 10955 | &nbsp;&nbsp; 1155424 |
| Tesla, Inc.<sup>(a)</sup> | 43606 | &nbsp;&nbsp; 18768458 |
| Texas Instruments, Inc. | 15516 | &nbsp;&nbsp; 3344474 |
| Thermo Fisher Scientific, Inc. | 6672 | &nbsp;&nbsp; 3860486 |
| TJX Cos., Inc. (The) | 19885 | &nbsp;&nbsp; 2978972 |
| T-Mobile US, Inc. | 10009 | &nbsp;&nbsp; 1973875 |
| Trane Technologies PLC | 5071 | &nbsp;&nbsp; 2132761 |
| TransDigm Group, Inc. | 1558 | &nbsp;&nbsp; 2224107 |
| Travelers Cos., Inc. (The) | 5191 | &nbsp;&nbsp; 1476891 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **United States-(continued)** | **United States-(continued)** | **United States-(continued)** |
| Trimble, Inc.<sup>(a)</sup> | 13689 | &nbsp;&nbsp; $925376 |
| Truist Financial Corp. | 31486 | &nbsp;&nbsp; 1619010 |
| U.S. Bancorp | 30815 | &nbsp;&nbsp; 1729030 |
| Uber Technologies, Inc.<sup>(a)</sup> | 33563 | &nbsp;&nbsp; 2686718 |
| Union Pacific Corp. | 11079 | &nbsp;&nbsp; 2604673 |
| United Parcel Service, Inc., Class B | 12510 | &nbsp;&nbsp; 1328812 |
| United Rentals, Inc. | 1374 | &nbsp;&nbsp; 1074550 |
| UnitedHealth Group, Inc. | 14625 | &nbsp;&nbsp; 4196351 |
| Veeva Systems, Inc., Class A<sup>(a)</sup> | 3702 | &nbsp;&nbsp; 754912 |
| Ventas, Inc. | 17631 | &nbsp;&nbsp; 1369400 |
| Verisk Analytics, Inc. | 6474 | &nbsp;&nbsp; 1407836 |
| Verizon Communications, Inc. | 80099 | &nbsp;&nbsp; 3566008 |
| Vertex Pharmaceuticals, Inc.<sup>(a)</sup> | 4726 | &nbsp;&nbsp; 2220747 |
| Vertiv Holdings Co., Class A | 7499 | &nbsp;&nbsp; 1396164 |
| Visa, Inc., Class A | 27980 | &nbsp;&nbsp; 9004803 |
| Walmart, Inc. | 71693 | &nbsp;&nbsp; 8541504 |
| Walt Disney Co. (The) | 31311 | &nbsp;&nbsp; 3531881 |
| Warner Bros. Discovery, Inc.<sup>(a)</sup> | 46143 | &nbsp;&nbsp; 1270778 |
| Waste Management, Inc. | 9472 | &nbsp;&nbsp; 2105057 |
| Wells Fargo & Co. | 51717 | &nbsp;&nbsp; 4679871 |
| Welltower, Inc. | 15092 | &nbsp;&nbsp; 2842729 |
| Western Digital Corp. | 7915 | &nbsp;&nbsp; 1980570 |
| Williams Cos., Inc. (The) | 26181 | &nbsp;&nbsp; 1760934 |
| Willis Towers Watson PLC | 4083 | &nbsp;&nbsp; 1296230 |
| Workday, Inc., Class A<sup>(a)</sup> | 5336 | &nbsp;&nbsp; 937162 |
| Xylem, Inc. | 10013 | &nbsp;&nbsp; 1380492 |
| Yum! Brands, Inc. | 8279 | &nbsp;&nbsp; 1287385 |
|  |  | &nbsp;&nbsp; 939445888 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks & Other Equity Interests <br>(Cost $1,137,702,620) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks & Other Equity Interests <br>(Cost $1,137,702,620) | &nbsp;&nbsp; 1442218120 |
| **Money Market Funds-0.02%** | **Money Market Funds-0.02%** | **Money Market Funds-0.02%** |
| &nbsp;&nbsp;&nbsp; Invesco Government & Agency Portfolio, <br> Institutional Class, 3.61%<sup>(d)(e)</sup> <br>(Cost $256,231)<br>| 256231 | &nbsp;&nbsp; 256231 |
| &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES <br>(excluding investments purchased with cash collateral <br> from securities on loan)-99.84% <br>(Cost $1,137,958,851) | &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES <br>(excluding investments purchased with cash collateral <br> from securities on loan)-99.84% <br>(Cost $1,137,958,851) | &nbsp;&nbsp; 1442474351 |
| **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-1.15%** | **Money Market Funds-1.15%** | **Money Market Funds-1.15%** |
| &nbsp;&nbsp;&nbsp; Invesco Private Government Fund, <br> 3.65%<sup>(d)(e)(f)</sup><br>| 4579016 | &nbsp;&nbsp; 4579016 |
| Invesco Private Prime Fund, 3.80%<sup>(d)(e)(f)</sup> | 11990610 | &nbsp;&nbsp; 11994207 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Investments Purchased with Cash Collateral from <br> Securities on Loan <br>(Cost $16,573,223) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Investments Purchased with Cash Collateral from <br> Securities on Loan <br>(Cost $16,573,223) | &nbsp;&nbsp; 16573223 |
| &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES-100.99% <br>(Cost $1,154,532,074) | &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES-100.99% <br>(Cost $1,154,532,074) | &nbsp;&nbsp; 1459047574 |
| OTHER ASSETS LESS LIABILITIES-(0.99)% | OTHER ASSETS LESS LIABILITIES-(0.99)% | &nbsp;&nbsp; (14324976)<br>|
| NET ASSETS-100.00% | NET ASSETS-100.00% | &nbsp;&nbsp; $1444722598 |

---

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

------

**Invesco MSCI Global Climate 500 ETF (KLMT)—(continued)**

January 31, 2026

*(Unaudited)*

---

| |
|:---|
| Investment Abbreviations: |
| ADR-American Depositary Receipt |
| NVDR-Non-Voting Depositary Receipt |
| PC-Participation Certificate |
| REIT-Real Estate Investment Trust |
| Rts.-Rights |

---

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

---

| | |
|:---|:---|
| Notes to Schedule of Investments: | Notes to Schedule of Investments: |
| <sup>(a)</sup> | Non-income producing security. |
| <sup>(b)</sup> | All or a portion of this security was out on loan at January 31, 2026. |
| <sup>(c)</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 $4,325,971, which represented less than 1% of the Fund's Net Assets.<br>|
| <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; $- | &nbsp;&nbsp;&nbsp; $11426287 | &nbsp;&nbsp;&nbsp; $(11170056)<br>| &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $256231 | &nbsp;&nbsp;&nbsp; $5573 |
| **Investments Purchased** <br> **with Cash Collateral from** <br> **Securities on Loan:**<br>|  |  |  |  |  |  |  |
| &nbsp;&nbsp; Invesco Private <br> Government Fund<br>| &nbsp;&nbsp;&nbsp; 4071183 | &nbsp;&nbsp;&nbsp; 17863850 | &nbsp;&nbsp;&nbsp; (17356017)<br>| &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; 4579016 | &nbsp;&nbsp;&nbsp; 48,509<br> \*<br>|
| &nbsp;&nbsp; Invesco Private Prime <br> Fund<br>| &nbsp;&nbsp;&nbsp; 10604888 | &nbsp;&nbsp;&nbsp; 42247029 | &nbsp;&nbsp;&nbsp; (40857710)<br>| &nbsp;&nbsp;&nbsp; 109 | &nbsp;&nbsp;&nbsp; (109)<br>| &nbsp;&nbsp;&nbsp; 11994207 | &nbsp;&nbsp;&nbsp; 129,689<br> \*<br>|
| &nbsp;&nbsp; Total | &nbsp;&nbsp;&nbsp; $14676071 | &nbsp;&nbsp;&nbsp; $71537166 | &nbsp;&nbsp;&nbsp; $(69383783)<br>| &nbsp;&nbsp;&nbsp; $109 | &nbsp;&nbsp;&nbsp; $(109)<br>| &nbsp;&nbsp;&nbsp; $16829454 | &nbsp;&nbsp;&nbsp; $183771 |

---

&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.

------

Schedule of Investments

**Invesco MSCI Global Timber ETF (CUT)**

January 31, 2026

*(Unaudited)*

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

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Common Stocks & Other Equity Interests-99.91%** | **Common Stocks & Other Equity Interests-99.91%** | **Common Stocks & Other Equity Interests-99.91%** |
| **Austria-3.34%** | **Austria-3.34%** | **Austria-3.34%** |
| Mondi PLC<sup>(a)</sup> | 106168 | &nbsp;&nbsp; $1244239 |
| **Brazil-6.48%** | **Brazil-6.48%** | **Brazil-6.48%** |
| Dexco S.A. | 110938 | &nbsp;&nbsp; 121416 |
| Klabin S.A. | 196917 | &nbsp;&nbsp; 720639 |
| Suzano S.A. | 167253 | &nbsp;&nbsp; 1575878 |
|  |  | &nbsp;&nbsp; 2417933 |
| **Canada-5.38%** | **Canada-5.38%** | **Canada-5.38%** |
| Canfor Corp.<sup>(b)</sup> | 13863 | &nbsp;&nbsp; 146805 |
| Cascades, Inc. | 18188 | &nbsp;&nbsp; 171786 |
| Resolute Forest Products, Inc.<sup>(b)(c)</sup> | 13637 | &nbsp;&nbsp; 0 |
| Stella-Jones, Inc. | 11932 | &nbsp;&nbsp; 804484 |
| West Fraser Timber Co. Ltd. | 12887 | &nbsp;&nbsp; 884955 |
|  |  | &nbsp;&nbsp; 2008030 |
| **Chile-1.10%** | **Chile-1.10%** | **Chile-1.10%** |
| Empresas CMPC S.A. | 270348 | &nbsp;&nbsp; 410280 |
| **China-1.75%** | **China-1.75%** | **China-1.75%** |
| Lee & Man Paper Manufacturing Ltd. | 308831 | &nbsp;&nbsp; 141214 |
| Nine Dragons Paper Holdings Ltd.<sup>(b)</sup> | 394309 | &nbsp;&nbsp; 415539 |
| &nbsp;&nbsp;&nbsp; Shandong Sun Paper Industry JSC Ltd., A <br> Shares<br>| 39300 | &nbsp;&nbsp; 95038 |
|  |  | &nbsp;&nbsp; 651791 |
| **Finland-11.45%** | **Finland-11.45%** | **Finland-11.45%** |
| Huhtamaki OYJ | 23301 | &nbsp;&nbsp; 820710 |
| Metsa Board OYJ<sup>(a)</sup> | 38849 | &nbsp;&nbsp; 121118 |
| Stora Enso OYJ, Class R<sup>(a)</sup> | 140080 | &nbsp;&nbsp; 1618451 |
| UPM-Kymmene OYJ<sup>(a)</sup> | 61704 | &nbsp;&nbsp; 1708474 |
|  |  | &nbsp;&nbsp; 4268753 |
| **India-0.48%** | **India-0.48%** | **India-0.48%** |
| Century Plyboards (India) Ltd. | 13354 | &nbsp;&nbsp; 116620 |
| JK Paper Ltd. | 17844 | &nbsp;&nbsp; 63585 |
|  |  | &nbsp;&nbsp; 180205 |
| **Indonesia-1.26%** | **Indonesia-1.26%** | **Indonesia-1.26%** |
| PT Indah Kiat Pulp & Paper Tbk | 591741 | &nbsp;&nbsp; 322230 |
| PT Pabrik Kertas Tjiwi Kimia Tbk | 335887 | &nbsp;&nbsp; 147298 |
|  |  | &nbsp;&nbsp; 469528 |
| **Japan-5.19%** | **Japan-5.19%** | **Japan-5.19%** |
| Daio Paper Corp. | 20363 | &nbsp;&nbsp; 128200 |
| Hokuetsu Corp.<sup>(a)</sup> | 24846 | &nbsp;&nbsp; 146516 |
| Nippon Paper Industries Co. Ltd. | 23686 | &nbsp;&nbsp; 180442 |
| Oji Holdings Corp. | 182979 | &nbsp;&nbsp; 1087383 |
| Rengo Co. Ltd. | 45616 | &nbsp;&nbsp; 392047 |
|  |  | &nbsp;&nbsp; 1934588 |
| **Norway-0.45%** | **Norway-0.45%** | **Norway-0.45%** |
| Elopak ASA | 32259 | &nbsp;&nbsp; 168209 |
| **Portugal-1.00%** | **Portugal-1.00%** | **Portugal-1.00%** |
| Altri SGPS S.A.<sup>(a)</sup> | 14755 | &nbsp;&nbsp; 75982 |
| Navigator Co. S.A. (The)<sup>(a)</sup> | 51211 | &nbsp;&nbsp; 194549 |
| Semapa-Sociedade de Investimento e Gestao | 3822 | &nbsp;&nbsp; 101747 |
|  |  | &nbsp;&nbsp; 372278 |
| **Russia-0.00%** | **Russia-0.00%** | **Russia-0.00%** |
| Segezha Group PJSC<sup>(b)(c)(d)</sup> | 1310077 | &nbsp;&nbsp; 0 |
| **Saudi Arabia-0.32%** | **Saudi Arabia-0.32%** | **Saudi Arabia-0.32%** |
| Middle East Paper Co.<sup>(b)</sup> | 9952 | &nbsp;&nbsp; 54863 |
| Saudi Paper Manufacturing Co.<sup>(b)</sup> | 4247 | &nbsp;&nbsp; 63933 |
|  |  | &nbsp;&nbsp; 118796 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **South Africa-0.43%** | **South Africa-0.43%** | **South Africa-0.43%** |
| Sappi Ltd.<sup>(a)</sup> | 144870 | &nbsp;&nbsp; $161134 |
| **Spain-0.19%** | **Spain-0.19%** | **Spain-0.19%** |
| Ence Energia y Celulosa S.A.<sup>(a)(b)</sup> | 26674 | &nbsp;&nbsp; 70494 |
| **Sweden-7.26%** | **Sweden-7.26%** | **Sweden-7.26%** |
| Billerud AB | 53966 | &nbsp;&nbsp; 439098 |
| Holmen AB, Class B<sup>(a)</sup> | 16946 | &nbsp;&nbsp; 639150 |
| Svenska Cellulosa AB S.C.A., Class B<sup>(a)</sup> | 129324 | &nbsp;&nbsp; 1629362 |
|  |  | &nbsp;&nbsp; 2707610 |
| **Switzerland-3.06%** | **Switzerland-3.06%** | **Switzerland-3.06%** |
| SIG Group AG<sup>(a)(b)</sup> | 73554 | &nbsp;&nbsp; 1142567 |
| **Taiwan-0.77%** | **Taiwan-0.77%** | **Taiwan-0.77%** |
| Cheng Loong Corp. | 169000 | &nbsp;&nbsp; 95023 |
| YFY, Inc. | 240000 | &nbsp;&nbsp; 190633 |
|  |  | &nbsp;&nbsp; 285656 |
| **Thailand-0.56%** | **Thailand-0.56%** | **Thailand-0.56%** |
| SCG Packaging PCL, NVDR | 327510 | &nbsp;&nbsp; 207102 |
| **United States-49.44%** | **United States-49.44%** | **United States-49.44%** |
| Amcor PLC<sup>(a)</sup> | 41401 | &nbsp;&nbsp; 1831994 |
| Avery Dennison Corp. | 10011 | &nbsp;&nbsp; 1857141 |
| Eightco Holdings, Inc.<sup>(b)</sup> | 19284 | &nbsp;&nbsp; 27962 |
| Graphic Packaging Holding Co.<sup>(a)</sup> | 71260 | &nbsp;&nbsp; 1043959 |
| International Paper Co. | 45589 | &nbsp;&nbsp; 1838149 |
| Louisiana-Pacific Corp. | 15076 | &nbsp;&nbsp; 1262464 |
| Packaging Corp. of America | 8691 | &nbsp;&nbsp; 1934182 |
| Rayonier, Inc. | 68960 | &nbsp;&nbsp; 1568150 |
| Sealed Air Corp.<sup>(a)</sup> | 35386 | &nbsp;&nbsp; 1481966 |
| Smurfit WestRock PLC | 49181 | &nbsp;&nbsp; 2047405 |
| Sonoco Products Co. | 23725 | &nbsp;&nbsp; 1138800 |
| Sylvamo Corp. | 8245 | &nbsp;&nbsp; 403510 |
| Weyerhaeuser Co. | 77508 | &nbsp;&nbsp; 1998156 |
|  |  | &nbsp;&nbsp; 18433838 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks & Other Equity Interests <br>(Cost $39,043,973) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks & Other Equity Interests <br>(Cost $39,043,973) | &nbsp;&nbsp; 37253031 |
| **Money Market Funds-0.03%** | **Money Market Funds-0.03%** | **Money Market Funds-0.03%** |
| &nbsp;&nbsp;&nbsp; Invesco Government & Agency Portfolio, <br> Institutional Class, 3.61%<sup>(e)(f)</sup> <br>(Cost $8,861)<br>| 8861 | &nbsp;&nbsp; 8861 |
| &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES <br>(excluding investments purchased with cash collateral from <br> securities on loan)-99.94% <br>(Cost $39,052,834) | &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES <br>(excluding investments purchased with cash collateral from <br> securities on loan)-99.94% <br>(Cost $39,052,834) | &nbsp;&nbsp; 37261892 |
| **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-26.37%** | **Money Market Funds-26.37%** | **Money Market Funds-26.37%** |
| &nbsp;&nbsp;&nbsp; Invesco Private Government Fund, <br> 3.65%<sup>(e)(f)(g)</sup><br>| 2638178 | &nbsp;&nbsp; 2638178 |
| Invesco Private Prime Fund, 3.80%<sup>(e)(f)(g)</sup> | 7193079 | &nbsp;&nbsp; 7195237 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Investments Purchased with Cash Collateral from <br> Securities on Loan <br>(Cost $9,833,415) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Investments Purchased with Cash Collateral from <br> Securities on Loan <br>(Cost $9,833,415) | &nbsp;&nbsp; 9833415 |
| &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES-126.31% <br>(Cost $48,886,249) | &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES-126.31% <br>(Cost $48,886,249) | &nbsp;&nbsp; 47095307 |
| OTHER ASSETS LESS LIABILITIES-(26.31)% | OTHER ASSETS LESS LIABILITIES-(26.31)% | &nbsp;&nbsp; (9808788)<br>|
| NET ASSETS-100.00% | NET ASSETS-100.00% | &nbsp;&nbsp; $37286519 |

---

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

------

**Invesco MSCI Global Timber ETF (CUT)—(continued)**

January 31, 2026

*(Unaudited)*

Investment Abbreviations: <br> NVDR-Non-Voting Depositary Receipt

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

---

| | |
|:---|:---|
| Notes to Schedule of Investments: | Notes to Schedule of Investments: |
| <sup>(a)</sup> | All or a portion of this security was out on loan at January 31, 2026. |
| <sup>(b)</sup> | Non-income producing security. |
| <sup>(c)</sup> | Security valued using significant unobservable inputs (Level 3). See Note 1. |
| <sup>(d)</sup> | Security purchased or received in a transaction exempt from registration under the Securities Act of 1933, as amended (the "1933 Act"). The security may be <br> resold pursuant to an exemption from registration under the 1933 Act, typically to qualified institutional buyers. The value of this security at January 31, 2026 <br> represented less than 1% of the Fund's Net Assets.<br>|
| <sup>(e)</sup> | Affiliated holding. Affiliated holdings are investments in entities which are under common ownership or control of Invesco Ltd. or are investments in entities in <br> which the Fund owns 5% or more of the outstanding voting securities. The table below shows the Fund's transactions in, and earnings from, its investments in <br> affiliates for the three months ended 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; $23493 | &nbsp;&nbsp;&nbsp; $1059760 | &nbsp;&nbsp;&nbsp; $(1074392)<br>| &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $8861 | &nbsp;&nbsp;&nbsp; $495 |
| **Investments Purchased** <br> **with Cash Collateral from** <br> **Securities on Loan:**<br>|  |  |  |  |  |  |  |
| &nbsp;&nbsp; Invesco Private <br> Government Fund<br>| &nbsp;&nbsp;&nbsp; 2656809 | &nbsp;&nbsp;&nbsp; 6294004 | &nbsp;&nbsp;&nbsp; (6312635)<br>| &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; 2638178 | &nbsp;&nbsp;&nbsp; 21,017<br> \*<br>|
| &nbsp;&nbsp; Invesco Private Prime <br> Fund<br>| &nbsp;&nbsp;&nbsp; 6912980 | &nbsp;&nbsp;&nbsp; 11951505 | &nbsp;&nbsp;&nbsp; (11669249)<br>| &nbsp;&nbsp;&nbsp; 144 | &nbsp;&nbsp;&nbsp; (143)<br>| &nbsp;&nbsp;&nbsp; 7195237 | &nbsp;&nbsp;&nbsp; 56,618<br> \*<br>|
| &nbsp;&nbsp; Total | &nbsp;&nbsp;&nbsp; $9593282 | &nbsp;&nbsp;&nbsp; $19305269 | &nbsp;&nbsp;&nbsp; $(19056276)<br>| &nbsp;&nbsp;&nbsp; $144 | &nbsp;&nbsp;&nbsp; $(143)<br>| &nbsp;&nbsp;&nbsp; $9842276 | &nbsp;&nbsp;&nbsp; $78130 |

---

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

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

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

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

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

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

------

Schedule of Investments

**Invesco MSCI Green Building ETF (GBLD)**

January 31, 2026

*(Unaudited)*

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

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Common Stocks & Other Equity Interests-99.74%** | **Common Stocks & Other Equity Interests-99.74%** | **Common Stocks & Other Equity Interests-99.74%** |
| **Australia-2.94%** | **Australia-2.94%** | **Australia-2.94%** |
| Abacus Group | 8926 | &nbsp;&nbsp; $7219 |
| Centuria Office REIT<sup>(a)</sup> | 7711 | &nbsp;&nbsp; 5769 |
| Cromwell Property Group | 31262 | &nbsp;&nbsp; 8968 |
| Growthpoint Properties Australia Ltd. | 5252 | &nbsp;&nbsp; 8413 |
| Vicinity Ltd. | 76726 | &nbsp;&nbsp; 131688 |
|  |  | &nbsp;&nbsp; 162057 |
| **Austria-0.33%** | **Austria-0.33%** | **Austria-0.33%** |
| CA Immobilien Anlagen AG<sup>(a)</sup> | 604 | &nbsp;&nbsp; 18089 |
| **Brazil-0.73%** | **Brazil-0.73%** | **Brazil-0.73%** |
| ALLOS S.A. | 6868 | &nbsp;&nbsp; 40535 |
| **Canada-1.82%** | **Canada-1.82%** | **Canada-1.82%** |
| First Capital REIT | 2054 | &nbsp;&nbsp; 30018 |
| Morguard Corp. | 53 | &nbsp;&nbsp; 1205 |
| RioCan REIT<sup>(a)</sup> | 2850 | &nbsp;&nbsp; 41061 |
| SmartCentres REIT<sup>(a)</sup> | 1426 | &nbsp;&nbsp; 28106 |
|  |  | &nbsp;&nbsp; 100390 |
| **China-0.30%** | **China-0.30%** | **China-0.30%** |
| &nbsp;&nbsp;&nbsp; China Merchants Shekou Industrial Zone Holdings <br> Co. Ltd.<br>| 10800 | &nbsp;&nbsp; 16422 |
| **Finland-0.14%** | **Finland-0.14%** | **Finland-0.14%** |
| Citycon OYJ<sup>(b)</sup> | 1660 | &nbsp;&nbsp; 7512 |
| **France-11.41%** | **France-11.41%** | **France-11.41%** |
| Carmila S.A. | 1242 | &nbsp;&nbsp; 24120 |
| Covivio S.A. | 1095 | &nbsp;&nbsp; 70209 |
| Gecina S.A. | 903 | &nbsp;&nbsp; 83243 |
| Klepierre S.A.<sup>(a)</sup> | 4227 | &nbsp;&nbsp; 163429 |
| Mercialys S.A. | 1837 | &nbsp;&nbsp; 23197 |
| Unibail-Rodamco-Westfield | 2393 | &nbsp;&nbsp; 265542 |
|  |  | &nbsp;&nbsp; 629740 |
| **Hong Kong-4.49%** | **Hong Kong-4.49%** | **Hong Kong-4.49%** |
| Fortune REIT | 30564 | &nbsp;&nbsp; 19871 |
| Hang Lung Group Ltd. | 16116 | &nbsp;&nbsp; 34715 |
| Hang Lung Properties Ltd. | 34900 | &nbsp;&nbsp; 42126 |
| Henderson Land Development Co. Ltd.<sup>(a)</sup> | 28483 | &nbsp;&nbsp; 113329 |
| Hysan Development Co. Ltd. | 12000 | &nbsp;&nbsp; 32967 |
| Yuexiu REIT | 46253 | &nbsp;&nbsp; 5031 |
|  |  | &nbsp;&nbsp; 248039 |
| **India-3.28%** | **India-3.28%** | **India-3.28%** |
| Brookfield India Real Estate Trust<sup>(c)</sup> | 8774 | &nbsp;&nbsp; 33686 |
| Embassy Office Parks REIT | 16715 | &nbsp;&nbsp; 78947 |
| Mahindra Lifespace Developers Ltd. | 2130 | &nbsp;&nbsp; 8511 |
| Max Estates Ltd.<sup>(b)</sup> | 1121 | &nbsp;&nbsp; 4697 |
| Mindspace Business Parks REIT<sup>(c)</sup> | 4179 | &nbsp;&nbsp; 22656 |
| Nesco Ltd. | 422 | &nbsp;&nbsp; 5235 |
| Nexus Select Trust | 16337 | &nbsp;&nbsp; 27417 |
|  |  | &nbsp;&nbsp; 181149 |
| **Japan-25.15%** | **Japan-25.15%** | **Japan-25.15%** |
| Activia Properties, Inc. | 39 | &nbsp;&nbsp; 36542 |
| AEON REIT Investment Corp.<sup>(a)</sup> | 31 | &nbsp;&nbsp; 26917 |
| CRE Logistics REIT, Inc. | 11 | &nbsp;&nbsp; 11888 |
| Daiwa House REIT Investment Corp. | 86 | &nbsp;&nbsp; 75177 |
| Daiwa Office Investment Corp. | 11 | &nbsp;&nbsp; 26292 |
| Frontier Real Estate Investment Corp. | 48 | &nbsp;&nbsp; 28370 |
| Fukuoka REIT Corp. | 14 | &nbsp;&nbsp; 16935 |
| Global One Real Estate Investment Corp. | 19 | &nbsp;&nbsp; 16818 |
| GLP J-Reit | 89 | &nbsp;&nbsp; 82078 |
| Hulic Reit, Inc. | 25 | &nbsp;&nbsp; 27921 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Japan-(continued)** | **Japan-(continued)** | **Japan-(continued)** |
| Isetan Mitsukoshi Holdings Ltd. | 6341 | &nbsp;&nbsp; $102094 |
| Japan Excellent, Inc.<sup>(a)</sup> | 21 | &nbsp;&nbsp; 20372 |
| Japan Logistics Fund, Inc. | 49 | &nbsp;&nbsp; 32115 |
| Japan Metropolitan Fund Investment Corp. | 141 | &nbsp;&nbsp; 111338 |
| Japan Prime Realty Investment Corp. | 66 | &nbsp;&nbsp; 44905 |
| Japan Real Estate Investment Corp. | 126 | &nbsp;&nbsp; 101986 |
| LaSalle Logiport REIT | 35 | &nbsp;&nbsp; 35639 |
| Mirai Corp. | 38 | &nbsp;&nbsp; 12315 |
| Mitsubishi Estate Logistics REIT Investment Corp. | 28 | &nbsp;&nbsp; 23884 |
| Mori Hills REIT Investment Corp.<sup>(a)</sup> | 28 | &nbsp;&nbsp; 26350 |
| Nippon Building Fund, Inc. | 153 | &nbsp;&nbsp; 142381 |
| Nippon Prologis REIT, Inc. | 131 | &nbsp;&nbsp; 76689 |
| Nomura Real Estate Master Fund, Inc. | 78 | &nbsp;&nbsp; 84554 |
| NTT UD REIT Investment Corp. | 28 | &nbsp;&nbsp; 25903 |
| ORIX JREIT, Inc. | 103 | &nbsp;&nbsp; 69205 |
| Sekisui House Reit, Inc. | 80 | &nbsp;&nbsp; 47130 |
| SOSiLA Logistics REIT, Inc. | 14 | &nbsp;&nbsp; 11628 |
| United Urban Investment Corp. | 61 | &nbsp;&nbsp; 70704 |
|  |  | &nbsp;&nbsp; 1388130 |
| **Mauritius Island-0.22%** | **Mauritius Island-0.22%** | **Mauritius Island-0.22%** |
| Lighthouse Properties PLC | 22952 | &nbsp;&nbsp; 12305 |
| **Mexico-3.34%** | **Mexico-3.34%** | **Mexico-3.34%** |
| Fibra Uno Administracion S.A. de C.V.<sup>(a)</sup> | 55924 | &nbsp;&nbsp; 87624 |
| Prologis Property Mexico S.A. de C.V. | 20855 | &nbsp;&nbsp; 96539 |
|  |  | &nbsp;&nbsp; 184163 |
| **Netherlands-0.80%** | **Netherlands-0.80%** | **Netherlands-0.80%** |
| Eurocommercial Properties N.V. | 867 | &nbsp;&nbsp; 25668 |
| Wereldhave N.V. | 738 | &nbsp;&nbsp; 18351 |
|  |  | &nbsp;&nbsp; 44019 |
| **Romania-1.97%** | **Romania-1.97%** | **Romania-1.97%** |
| NEPI Rockcastle N.V.<sup>(b)</sup> | 11876 | &nbsp;&nbsp; 108934 |
| **Singapore-12.74%** | **Singapore-12.74%** | **Singapore-12.74%** |
| CapitaLand Ascendas REIT | 76933 | &nbsp;&nbsp; 172586 |
| CapitaLand India Trust | 18494 | &nbsp;&nbsp; 18089 |
| CapitaLand Integrated Commercial Trust | 119646 | &nbsp;&nbsp; 225173 |
| City Developments Ltd. | 9774 | &nbsp;&nbsp; 71393 |
| Frasers Centrepoint Trust | 25744 | &nbsp;&nbsp; 45440 |
| Frasers Logistics & Commercial Trust<sup>(c)</sup> | 55444 | &nbsp;&nbsp; 44177 |
| Keppel REIT | 65525 | &nbsp;&nbsp; 50930 |
| Lendlease Global Commercial REIT | 43480 | &nbsp;&nbsp; 21872 |
| Mapletree Pan Asia Commercial Trust | 46191 | &nbsp;&nbsp; 53104 |
|  |  | &nbsp;&nbsp; 702764 |
| **South Africa-0.94%** | **South Africa-0.94%** | **South Africa-0.94%** |
| Redefine Properties Ltd. | 133819 | &nbsp;&nbsp; 51710 |
| **Spain-3.07%** | **Spain-3.07%** | **Spain-3.07%** |
| Colonial SFL Socimi S.A.<sup>(a)</sup> | 5510 | &nbsp;&nbsp; 34204 |
| Merlin Properties SOCIMI S.A. | 7752 | &nbsp;&nbsp; 115793 |
| Neinor Homes S.A.<sup>(b)(c)</sup> | 803 | &nbsp;&nbsp; 19203 |
|  |  | &nbsp;&nbsp; 169200 |
| **Sweden-1.28%** | **Sweden-1.28%** | **Sweden-1.28%** |
| Atrium Ljungberg AB | 5142 | &nbsp;&nbsp; 19597 |
| Fabege AB<sup>(a)</sup> | 3892 | &nbsp;&nbsp; 36174 |
| FastPartner AB, Class A | 911 | &nbsp;&nbsp; 4714 |
| Platzer Fastigheter Holding AB, Class B<sup>(a)</sup> | 1198 | &nbsp;&nbsp; 10042 |
|  |  | &nbsp;&nbsp; 70527 |
| **Switzerland-4.88%** | **Switzerland-4.88%** | **Switzerland-4.88%** |
| Swiss Prime Site AG | 1577 | &nbsp;&nbsp; 269515 |

---

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

------

**Invesco MSCI Green Building ETF (GBLD)—(continued)**

January 31, 2026

*(Unaudited)*

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **United Kingdom-3.91%** | **United Kingdom-3.91%** | **United Kingdom-3.91%** |
| Berkeley Group Holdings PLC (The) | 1878 | &nbsp;&nbsp; $106407 |
| Crest Nicholson Holdings PLC | 4601 | &nbsp;&nbsp; 9650 |
| Tritax Big Box REIT PLC | 43779 | &nbsp;&nbsp; 99659 |
|  |  | &nbsp;&nbsp; 215716 |
| **United States-16.00%** | **United States-16.00%** | **United States-16.00%** |
| American Assets Trust, Inc. | 973 | &nbsp;&nbsp; 17572 |
| Beazer Homes USA, Inc.<sup>(b)</sup> | 562 | &nbsp;&nbsp; 12122 |
| Brandywine Realty Trust<sup>(a)</sup> | 3450 | &nbsp;&nbsp; 9763 |
| BXP, Inc. | 2957 | &nbsp;&nbsp; 191229 |
| Cousins Properties, Inc. | 3293 | &nbsp;&nbsp; 83115 |
| Douglas Emmett, Inc.<sup>(a)</sup> | 3273 | &nbsp;&nbsp; 34563 |
| Empire State Realty Trust, Inc., Class A<sup>(a)</sup> | 2844 | &nbsp;&nbsp; 18856 |
| Highwoods Properties, Inc. | 2103 | &nbsp;&nbsp; 54363 |
| Hudson Pacific Properties, Inc.<sup>(a)(b)</sup> | 1075 | &nbsp;&nbsp; 9267 |
| &nbsp;&nbsp;&nbsp; JBG SMITH Properties, (Acquired 03/02/2022 - <br> 12/18/2025; Cost $28,155)<sup>(d)</sup><br>| 1225 | &nbsp;&nbsp; 20629 |
| KB Home | 1270 | &nbsp;&nbsp; 73076 |
| Kilroy Realty Corp. | 2203 | &nbsp;&nbsp; 75959 |
| Meritage Homes Corp. | 1396 | &nbsp;&nbsp; 97036 |
| Piedmont Realty Trust, Inc., Class A | 2471 | &nbsp;&nbsp; 20806 |
| SL Green Realty Corp.<sup>(a)</sup> | 1393 | &nbsp;&nbsp; 62379 |
| Vornado Realty Trust | 3202 | &nbsp;&nbsp; 102080 |
|  |  | &nbsp;&nbsp; 882815 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks & Other Equity Interests <br>(Cost $5,835,942) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks & Other Equity Interests <br>(Cost $5,835,942) | &nbsp;&nbsp; 5503731 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Money Market Funds-0.03%** | **Money Market Funds-0.03%** | **Money Market Funds-0.03%** |
| &nbsp;&nbsp;&nbsp; Invesco Government & Agency Portfolio, <br> Institutional Class, 3.61%<sup>(e)(f)</sup> <br>(Cost $1,528)<br>| 1528 | &nbsp;&nbsp; $1528 |
| &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES <br>(excluding investments purchased with cash collateral from <br> securities on loan)-99.77% <br>(Cost $5,837,470) | &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES <br>(excluding investments purchased with cash collateral from <br> securities on loan)-99.77% <br>(Cost $5,837,470) | &nbsp;&nbsp; 5505259 |
| **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-11.79%** | **Money Market Funds-11.79%** | **Money Market Funds-11.79%** |
| Invesco Private Government Fund, 3.65%<sup>(e)(f)(g)</sup> | 180886 | &nbsp;&nbsp; 180886 |
| Invesco Private Prime Fund, 3.80%<sup>(e)(f)(g)</sup> | 469673 | &nbsp;&nbsp; 469814 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Investments Purchased with Cash Collateral from <br> Securities on Loan <br>(Cost $650,700) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Investments Purchased with Cash Collateral from <br> Securities on Loan <br>(Cost $650,700) | &nbsp;&nbsp; 650700 |
| &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES-111.56% <br>(Cost $6,488,170) | &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES-111.56% <br>(Cost $6,488,170) | &nbsp;&nbsp; 6155959 |
| OTHER ASSETS LESS LIABILITIES-(11.56)% | OTHER ASSETS LESS LIABILITIES-(11.56)% | &nbsp;&nbsp; (637671)<br>|
| NET ASSETS-100.00% | NET ASSETS-100.00% | &nbsp;&nbsp; $5518288 |

---

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

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

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

---

| | |
|:---|:---|
| Notes to Schedule of Investments: | Notes to Schedule of Investments: |
| <sup>(a)</sup> | All or a portion of this security was out on loan at January 31, 2026. |
| <sup>(b)</sup> | Non-income producing security. |
| <sup>(c)</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 $119,722, which represented 2.17% of the Fund's Net Assets.<br>|
| <sup>(d)</sup> | Restricted security. The value of this security at January 31, 2026 represented 0.37% of the Fund's Net Assets. |
| <sup>(e)</sup> | Affiliated holding. Affiliated holdings are investments in entities which are under common ownership or control of Invesco Ltd. or are investments in entities in <br> which the Fund owns 5% or more of the outstanding voting securities. The table below shows the Fund's transactions in, and earnings from, its investments in <br> affiliates for the three months ended 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; $4292 | &nbsp;&nbsp;&nbsp; $119146 | &nbsp;&nbsp;&nbsp; $(121910)<br>| &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $1528 | &nbsp;&nbsp;&nbsp; $39 |
| **Investments Purchased** <br> **with Cash Collateral from** <br> **Securities on Loan:**<br>|  |  |  |  |  |  |  |
| &nbsp;&nbsp; Invesco Private Government <br> Fund<br>| &nbsp;&nbsp;&nbsp; 186081 | &nbsp;&nbsp;&nbsp; 809297 | &nbsp;&nbsp;&nbsp; (814492)<br>| &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; 180886 | &nbsp;&nbsp;&nbsp; 1,685<br> \*<br>|
| &nbsp;&nbsp; Invesco Private Prime Fund | &nbsp;&nbsp;&nbsp; 484496 | &nbsp;&nbsp;&nbsp; 1536667 | &nbsp;&nbsp;&nbsp; (1551349)<br>| &nbsp;&nbsp;&nbsp; 6 | &nbsp;&nbsp;&nbsp; (6)<br>| &nbsp;&nbsp;&nbsp; 469814 | &nbsp;&nbsp;&nbsp; 4,400<br> \*<br>|
| &nbsp;&nbsp; Total | &nbsp;&nbsp;&nbsp; $674869 | &nbsp;&nbsp;&nbsp; $2465110 | &nbsp;&nbsp;&nbsp; $(2487751)<br>| &nbsp;&nbsp;&nbsp; $6 | &nbsp;&nbsp;&nbsp; $(6)<br>| &nbsp;&nbsp;&nbsp; $652228 | &nbsp;&nbsp;&nbsp; $6124 |

---

&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;

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

------

**Invesco MSCI Green Building ETF (GBLD)—(continued)**

January 31, 2026

*(Unaudited)*

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

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

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

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

------

Schedule of Investments

**Invesco RAFI Developed Markets ex-U.S. ETF (PXF)**

January 31, 2026

*(Unaudited)*

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

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Common Stocks & Other Equity Interests-99.85%** | **Common Stocks & Other Equity Interests-99.85%** | **Common Stocks & Other Equity Interests-99.85%** |
| **Australia-6.34%** | **Australia-6.34%** | **Australia-6.34%** |
| AGL Energy Ltd. | 138803 | &nbsp;&nbsp; $878560 |
| Ampol Ltd.<sup>(a)</sup> | 61941 | &nbsp;&nbsp; 1251944 |
| ANZ Group Holdings Ltd. | 274020 | &nbsp;&nbsp; 7013213 |
| APA Group | 108387 | &nbsp;&nbsp; 671308 |
| Aristocrat Leisure Ltd. | 19664 | &nbsp;&nbsp; 734919 |
| Aurizon Holdings Ltd. | 357694 | &nbsp;&nbsp; 920491 |
| Bendigo & Adelaide Bank Ltd. | 55209 | &nbsp;&nbsp; 422941 |
| BHP Group Ltd. | 648189 | &nbsp;&nbsp; 22459821 |
| BlueScope Steel Ltd. | 98854 | &nbsp;&nbsp; 2075633 |
| Brambles Ltd. | 78446 | &nbsp;&nbsp; 1225039 |
| Coles Group Ltd. | 110999 | &nbsp;&nbsp; 1649885 |
| Commonwealth Bank of Australia | 70170 | &nbsp;&nbsp; 7307874 |
| Computershare Ltd. | 18458 | &nbsp;&nbsp; 421720 |
| Coronado Global Resources, Inc., CDI<sup>(a)(b)</sup> | 782668 | &nbsp;&nbsp; 221688 |
| CSL Ltd. | 19963 | &nbsp;&nbsp; 2530707 |
| Dexus | 120372 | &nbsp;&nbsp; 564955 |
| Downer EDI Ltd. | 79169 | &nbsp;&nbsp; 444159 |
| Dyno Nobel Ltd. | 294762 | &nbsp;&nbsp; 722220 |
| EBOS Group Ltd. | 11326 | &nbsp;&nbsp; 176260 |
| Endeavour Group Ltd.<sup>(a)</sup> | 222159 | &nbsp;&nbsp; 574157 |
| Fortescue Ltd. | 274050 | &nbsp;&nbsp; 3992419 |
| Glencore PLC<sup>(c)</sup> | 3583906 | &nbsp;&nbsp; 24502425 |
| Goodman Group | 42602 | &nbsp;&nbsp; 910483 |
| GPT Group (The) | 164143 | &nbsp;&nbsp; 606701 |
| Insurance Australia Group Ltd. | 145784 | &nbsp;&nbsp; 773230 |
| James Hardie Industries PLC, CDI<sup>(c)</sup> | 25282 | &nbsp;&nbsp; 579574 |
| JB Hi-Fi Ltd. | 9025 | &nbsp;&nbsp; 511540 |
| Lendlease Corp. Ltd. | 100037 | &nbsp;&nbsp; 336794 |
| Macquarie Group Ltd. | 19184 | &nbsp;&nbsp; 2832422 |
| Medibank Pvt. Ltd. | 214063 | &nbsp;&nbsp; 691000 |
| Metcash Ltd. | 208914 | &nbsp;&nbsp; 484539 |
| Mineral Resources Ltd.<sup>(c)</sup> | 21494 | &nbsp;&nbsp; 850575 |
| Mirvac Group | 479115 | &nbsp;&nbsp; 669392 |
| National Australia Bank Ltd. | 195389 | &nbsp;&nbsp; 5904775 |
| Northern Star Resources Ltd. | 48741 | &nbsp;&nbsp; 901425 |
| Orica Ltd. | 39228 | &nbsp;&nbsp; 703031 |
| Origin Energy Ltd. | 148568 | &nbsp;&nbsp; 1225801 |
| QBE Insurance Group Ltd. | 99551 | &nbsp;&nbsp; 1372653 |
| Ramsay Health Care Ltd. | 23356 | &nbsp;&nbsp; 592727 |
| Rio Tinto Ltd.<sup>(a)</sup> | 60980 | &nbsp;&nbsp; 6391510 |
| Rio Tinto PLC | 181558 | &nbsp;&nbsp; 16611550 |
| Santos Ltd. | 425879 | &nbsp;&nbsp; 2089432 |
| Scentre Group | 411629 | &nbsp;&nbsp; 1173580 |
| Sonic Healthcare Ltd. | 62540 | &nbsp;&nbsp; 1006161 |
| South32 Ltd. | 754529 | &nbsp;&nbsp; 2404665 |
| Stockland | 228275 | &nbsp;&nbsp; 859267 |
| Suncorp Group Ltd. | 93167 | &nbsp;&nbsp; 1103371 |
| Telstra Group Ltd. | 365182 | &nbsp;&nbsp; 1248114 |
| Transurban Group | 136162 | &nbsp;&nbsp; 1325008 |
| Treasury Wine Estates Ltd.<sup>(a)</sup> | 87510 | &nbsp;&nbsp; 328063 |
| Vicinity Ltd. | 392121 | &nbsp;&nbsp; 673013 |
| Viva Energy Group Ltd.<sup>(b)</sup> | 297434 | &nbsp;&nbsp; 374587 |
| Washington H Soul Pattinson & Co. Ltd.<sup>(a)</sup> | 2396 | &nbsp;&nbsp; 64537 |
| Wesfarmers Ltd. | 58052 | &nbsp;&nbsp; 3369020 |
| Westpac Banking Corp. | 254585 | &nbsp;&nbsp; 6881731 |
| Whitehaven Coal Ltd. | 204583 | &nbsp;&nbsp; 1257469 |
| Woodside Energy Group Ltd.<sup>(a)</sup> | 272649 | &nbsp;&nbsp; 4843065 |
| Woolworths Group Ltd. | 114180 | &nbsp;&nbsp; 2465127 |
| Worley Ltd. | 88063 | &nbsp;&nbsp; 824060 |
|  |  | &nbsp;&nbsp; 156002330 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Austria-0.44%** | **Austria-0.44%** | **Austria-0.44%** |
| ams-OSRAM AG<sup>(c)</sup> | 46986 | &nbsp;&nbsp; $490782 |
| BAWAG Group AG<sup>(b)(c)</sup> | 5787 | &nbsp;&nbsp; 944821 |
| Erste Group Bank AG | 20973 | &nbsp;&nbsp; 2736571 |
| Mondi PLC | 83429 | &nbsp;&nbsp; 977749 |
| OMV AG | 38281 | &nbsp;&nbsp; 2282439 |
| Raiffeisen Bank International AG | 25042 | &nbsp;&nbsp; 1266834 |
| voestalpine AG | 34771 | &nbsp;&nbsp; 1657110 |
| Wienerberger AG | 16432 | &nbsp;&nbsp; 545123 |
|  |  | &nbsp;&nbsp; 10901429 |
| **Belgium-0.65%** | **Belgium-0.65%** | **Belgium-0.65%** |
| Ackermans & van Haaren N.V. | 1653 | &nbsp;&nbsp; 490844 |
| Ageas S.A./N.V. | 18086 | &nbsp;&nbsp; 1289317 |
| Anheuser-Busch InBev S.A./N.V. | 86537 | &nbsp;&nbsp; 6251798 |
| KBC Group N.V. | 19597 | &nbsp;&nbsp; 2771543 |
| Proximus SADP<sup>(a)</sup> | 55323 | &nbsp;&nbsp; 506592 |
| Syensqo S.A.<sup>(a)</sup> | 11305 | &nbsp;&nbsp; 954924 |
| UCB S.A. | 5786 | &nbsp;&nbsp; 1769540 |
| Umicore S.A. | 80285 | &nbsp;&nbsp; 1915484 |
|  |  | &nbsp;&nbsp; 15950042 |
| **Brazil-0.13%** | **Brazil-0.13%** | **Brazil-0.13%** |
| Wheaton Precious Metals Corp. | 7593 | &nbsp;&nbsp; 1005877 |
| Yara International ASA | 49104 | &nbsp;&nbsp; 2264351 |
|  |  | &nbsp;&nbsp; 3270228 |
| **Canada-8.01%** | **Canada-8.01%** | **Canada-8.01%** |
| Agnico Eagle Mines Ltd. | 14439 | &nbsp;&nbsp; 2759953 |
| Algonquin Power & Utilities Corp. | 116935 | &nbsp;&nbsp; 771996 |
| Alimentation Couche-Tard, Inc. | 88569 | &nbsp;&nbsp; 4633333 |
| AltaGas Ltd. | 32266 | &nbsp;&nbsp; 978595 |
| ARC Resources Ltd. | 60059 | &nbsp;&nbsp; 1120770 |
| ATCO Ltd., Class I | 14327 | &nbsp;&nbsp; 625494 |
| AtkinsRealis Group, Inc. | 6956 | &nbsp;&nbsp; 490873 |
| B2Gold Corp.<sup>(a)</sup> | 172454 | &nbsp;&nbsp; 844345 |
| Bank of Montreal<sup>(a)</sup> | 47966 | &nbsp;&nbsp; 6566080 |
| Bank of Nova Scotia (The) | 125486 | &nbsp;&nbsp; 9433574 |
| Barrick Mining Corp. | 147675 | &nbsp;&nbsp; 6787499 |
| BCE, Inc.<sup>(a)</sup> | 88078 | &nbsp;&nbsp; 2289514 |
| Brookfield Corp. | 97508 | &nbsp;&nbsp; 4469462 |
| CAE, Inc.<sup>(c)</sup> | 14850 | &nbsp;&nbsp; 478569 |
| Canadian Apartment Properties REIT<sup>(a)</sup> | 17545 | &nbsp;&nbsp; 499601 |
| Canadian Imperial Bank of Commerce | 63462 | &nbsp;&nbsp; 5897469 |
| Canadian National Railway Co. | 33175 | &nbsp;&nbsp; 3209093 |
| Canadian Natural Resources Ltd.<sup>(a)</sup> | 232685 | &nbsp;&nbsp; 8699806 |
| Canadian Pacific Kansas City Ltd. | 39663 | &nbsp;&nbsp; 2964730 |
| Canadian Tire Corp. Ltd., Class A<sup>(a)</sup> | 9978 | &nbsp;&nbsp; 1234364 |
| Capital Power Corp. | 10405 | &nbsp;&nbsp; 459106 |
| CCL Industries, Inc., Class B | 9760 | &nbsp;&nbsp; 591445 |
| Celestica, Inc.<sup>(c)</sup> | 2654 | &nbsp;&nbsp; 749917 |
| Cenovus Energy, Inc. | 281103 | &nbsp;&nbsp; 5577844 |
| CGI, Inc., Class A | 15612 | &nbsp;&nbsp; 1345435 |
| Constellation Software, Inc. | 271 | &nbsp;&nbsp; 502908 |
| Dollarama, Inc. | 4461 | &nbsp;&nbsp; 604507 |
| Element Fleet Management Corp.<sup>(a)</sup> | 20225 | &nbsp;&nbsp; 515277 |
| Emera, Inc.<sup>(a)</sup> | 23845 | &nbsp;&nbsp; 1188420 |
| Empire Co. Ltd., Class A | 23592 | &nbsp;&nbsp; 774931 |
| Enbridge, Inc. | 185241 | &nbsp;&nbsp; 9092766 |
| Fairfax Financial Holdings Ltd. | 1448 | &nbsp;&nbsp; 2402868 |
| Finning International, Inc. | 16937 | &nbsp;&nbsp; 1068014 |
| Fortis, Inc. | 38377 | &nbsp;&nbsp; 2057505 |
| Franco-Nevada Corp. | 3664 | &nbsp;&nbsp; 862433 |
| George Weston Ltd. | 17763 | &nbsp;&nbsp; 1245765 |

---

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

------

**Invesco RAFI Developed Markets ex-U.S. ETF (PXF)—(continued)**

January 31, 2026

*(Unaudited)*

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Canada-(continued)** | **Canada-(continued)** | **Canada-(continued)** |
| Gildan Activewear, Inc.<sup>(a)</sup> | 12065 | &nbsp;&nbsp; $788237 |
| Great-West Lifeco, Inc. | 18344 | &nbsp;&nbsp; 863454 |
| H&R REIT | 53508 | &nbsp;&nbsp; 424776 |
| Hydro One Ltd.<sup>(a)(b)</sup> | 19707 | &nbsp;&nbsp; 783390 |
| iA Financial Corp., Inc. | 7266 | &nbsp;&nbsp; 897740 |
| Imperial Oil Ltd. | 21057 | &nbsp;&nbsp; 2139210 |
| Intact Financial Corp. | 8142 | &nbsp;&nbsp; 1490591 |
| Keyera Corp. | 20463 | &nbsp;&nbsp; 696783 |
| Kinross Gold Corp. | 52939 | &nbsp;&nbsp; 1676346 |
| Linamar Corp. | 10163 | &nbsp;&nbsp; 647838 |
| Loblaw Cos. Ltd. | 43838 | &nbsp;&nbsp; 1983498 |
| Magna International, Inc. | 95286 | &nbsp;&nbsp; 4898171 |
| Manulife Financial Corp. | 131224 | &nbsp;&nbsp; 5026466 |
| Methanex Corp.<sup>(a)</sup> | 11914 | &nbsp;&nbsp; 571615 |
| Metro, Inc. | 19736 | &nbsp;&nbsp; 1317385 |
| National Bank of Canada | 19888 | &nbsp;&nbsp; 2382918 |
| Northland Power, Inc.<sup>(a)</sup> | 32196 | &nbsp;&nbsp; 446272 |
| Nutrien Ltd. | 104685 | &nbsp;&nbsp; 7247512 |
| Onex Corp. | 5315 | &nbsp;&nbsp; 455375 |
| Open Text Corp. | 28531 | &nbsp;&nbsp; 732791 |
| Pan American Silver Corp.<sup>(a)</sup> | 16262 | &nbsp;&nbsp; 890948 |
| Pembina Pipeline Corp. | 54775 | &nbsp;&nbsp; 2288646 |
| Power Corp. of Canada | 44738 | &nbsp;&nbsp; 2268699 |
| Quebecor, Inc., Class B | 14611 | &nbsp;&nbsp; 535929 |
| RB Global, Inc.<sup>(a)</sup> | 4764 | &nbsp;&nbsp; 543754 |
| Restaurant Brands International, Inc. | 15649 | &nbsp;&nbsp; 1054284 |
| RioCan REIT<sup>(a)</sup> | 43776 | &nbsp;&nbsp; 630705 |
| Rogers Communications, Inc., Class B | 53631 | &nbsp;&nbsp; 2035693 |
| Royal Bank of Canada | 78219 | &nbsp;&nbsp; 13095899 |
| Saputo, Inc. | 32880 | &nbsp;&nbsp; 997460 |
| Shopify, Inc., Class A<sup>(c)</sup> | 8451 | &nbsp;&nbsp; 1115047 |
| Sun Life Financial, Inc. | 41422 | &nbsp;&nbsp; 2624530 |
| Suncor Energy, Inc. | 196285 | &nbsp;&nbsp; 10432102 |
| TC Energy Corp. | 69478 | &nbsp;&nbsp; 4096388 |
| Teck Resources Ltd., Class B | 69920 | &nbsp;&nbsp; 3773403 |
| TELUS Corp. | 74984 | &nbsp;&nbsp; 1052096 |
| TFI International, Inc. | 7521 | &nbsp;&nbsp; 812722 |
| Thomson Reuters Corp. | 4925 | &nbsp;&nbsp; 547182 |
| Toromont Industries Ltd. | 4599 | &nbsp;&nbsp; 589076 |
| Toronto-Dominion Bank (The) | 132523 | &nbsp;&nbsp; 12454216 |
| Tourmaline Oil Corp. | 35160 | &nbsp;&nbsp; 1673161 |
| Vermilion Energy, Inc. | 52136 | &nbsp;&nbsp; 506672 |
| West Fraser Timber Co. Ltd. | 20442 | &nbsp;&nbsp; 1403760 |
| Whitecap Resources, Inc.<sup>(a)</sup> | 181106 | &nbsp;&nbsp; 1661069 |
| WSP Global, Inc. | 4580 | &nbsp;&nbsp; 890295 |
|  |  | &nbsp;&nbsp; 197238365 |
| **Chile-0.10%** | **Chile-0.10%** | **Chile-0.10%** |
| Antofagasta PLC | 22769 | &nbsp;&nbsp; 1131455 |
| Lundin Mining Corp. | 54781 | &nbsp;&nbsp; 1389600 |
|  |  | &nbsp;&nbsp; 2521055 |
| **China-0.17%** | **China-0.17%** | **China-0.17%** |
| China Gas Holdings Ltd.<sup>(a)</sup> | 515400 | &nbsp;&nbsp; 510688 |
| GCL Technology Holdings Ltd.<sup>(a)(c)</sup> | 2877000 | &nbsp;&nbsp; 398162 |
| JOYY, Inc., ADR | 11721 | &nbsp;&nbsp; 754247 |
| Kingboard Holdings Ltd. | 122000 | &nbsp;&nbsp; 494540 |
| Sino Biopharmaceutical Ltd. | 712000 | &nbsp;&nbsp; 604322 |
| SITC International Holdings Co. Ltd. | 149937 | &nbsp;&nbsp; 560063 |
| Wilmar International Ltd.<sup>(a)</sup> | 337014 | &nbsp;&nbsp; 902040 |
|  |  | &nbsp;&nbsp; 4224062 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Colombia-0.02%** | **Colombia-0.02%** | **Colombia-0.02%** |
| Parex Resources, Inc. | 38192 | &nbsp;&nbsp; $569714 |
| **Denmark-0.75%** | **Denmark-0.75%** | **Denmark-0.75%** |
| Carlsberg A/S, Class B | 8893 | &nbsp;&nbsp; 1213455 |
| Coloplast A/S, Class B | 5574 | &nbsp;&nbsp; 476908 |
| Danske Bank A/S | 43135 | &nbsp;&nbsp; 2205748 |
| DSV A/S | 9469 | &nbsp;&nbsp; 2672361 |
| Genmab A/S<sup>(c)</sup> | 3134 | &nbsp;&nbsp; 1024777 |
| ISS A/S | 15084 | &nbsp;&nbsp; 574166 |
| Novo Nordisk A/S, Class B | 98310 | &nbsp;&nbsp; 5859102 |
| Novonesis (Novozymes) B, Class B | 10435 | &nbsp;&nbsp; 641748 |
| Orsted A/S<sup>(b)(c)</sup> | 41201 | &nbsp;&nbsp; 930245 |
| Pandora A/S | 3566 | &nbsp;&nbsp; 289709 |
| Rockwool A/S | 10896 | &nbsp;&nbsp; 369315 |
| Tryg A/S | 19461 | &nbsp;&nbsp; 474705 |
| Vestas Wind Systems A/S | 53211 | &nbsp;&nbsp; 1618849 |
|  |  | &nbsp;&nbsp; 18351088 |
| **Finland-1.23%** | **Finland-1.23%** | **Finland-1.23%** |
| Elisa OYJ | 10525 | &nbsp;&nbsp; 467263 |
| Fortum OYJ<sup>(a)</sup> | 58064 | &nbsp;&nbsp; 1376585 |
| Huhtamaki OYJ | 11202 | &nbsp;&nbsp; 394558 |
| Kesko OYJ, Class B<sup>(a)</sup> | 35667 | &nbsp;&nbsp; 905412 |
| Kone OYJ, Class B | 19380 | &nbsp;&nbsp; 1397795 |
| Metso OYJ<sup>(a)</sup> | 38035 | &nbsp;&nbsp; 746311 |
| Neste OYJ | 131406 | &nbsp;&nbsp; 3368942 |
| Nokia OYJ | 890203 | &nbsp;&nbsp; 5754522 |
| Nordea Bank Abp | 333276 | &nbsp;&nbsp; 6462390 |
| Orion OYJ, Class B | 5968 | &nbsp;&nbsp; 495333 |
| Outokumpu OYJ<sup>(a)</sup> | 162343 | &nbsp;&nbsp; 914790 |
| Sampo OYJ | 191973 | &nbsp;&nbsp; 2148711 |
| Stora Enso OYJ, Class R<sup>(a)</sup> | 126527 | &nbsp;&nbsp; 1461863 |
| TietoEVRY OYJ<sup>(a)</sup> | 21954 | &nbsp;&nbsp; 478301 |
| UPM-Kymmene OYJ<sup>(a)</sup> | 80636 | &nbsp;&nbsp; 2232668 |
| Valmet OYJ<sup>(a)</sup> | 14151 | &nbsp;&nbsp; 486665 |
| Wartsila OYJ Abp | 26867 | &nbsp;&nbsp; 1093141 |
|  |  | &nbsp;&nbsp; 30185250 |
| **France-7.28%** | **France-7.28%** | **France-7.28%** |
| Accor S.A. | 11593 | &nbsp;&nbsp; 632728 |
| Air Liquide S.A. | 26341 | &nbsp;&nbsp; 4950576 |
| Airbus SE | 18336 | &nbsp;&nbsp; 4213258 |
| Alstom S.A.<sup>(c)</sup> | 50210 | &nbsp;&nbsp; 1608941 |
| Amundi S.A.<sup>(b)</sup> | 6480 | &nbsp;&nbsp; 578222 |
| Arkema S.A. | 16881 | &nbsp;&nbsp; 1020298 |
| AXA S.A. | 157815 | &nbsp;&nbsp; 7222337 |
| Ayvens S.A.<sup>(b)</sup> | 47850 | &nbsp;&nbsp; 696238 |
| BNP Paribas S.A. | 132636 | &nbsp;&nbsp; 14394304 |
| Bollore SE | 90621 | &nbsp;&nbsp; 518544 |
| Bouygues S.A. | 34637 | &nbsp;&nbsp; 1879055 |
| Bureau Veritas S.A.<sup>(a)</sup> | 14197 | &nbsp;&nbsp; 458693 |
| Capgemini SE | 15306 | &nbsp;&nbsp; 2386848 |
| Carrefour S.A. | 223956 | &nbsp;&nbsp; 3681527 |
| Cie de Saint-Gobain S.A. | 41130 | &nbsp;&nbsp; 4074488 |
| &nbsp;&nbsp;&nbsp; Cie Generale des Etablissements Michelin <br> S.C.A.<br>| 112534 | &nbsp;&nbsp; 4194184 |
| Clariane SE<sup>(a)(c)</sup> | 88984 | &nbsp;&nbsp; 403331 |
| Covivio S.A. | 6516 | &nbsp;&nbsp; 417791 |
| Credit Agricole S.A. | 111534 | &nbsp;&nbsp; 2424192 |
| Danone S.A. | 47648 | &nbsp;&nbsp; 3747241 |
| Dassault Systemes SE | 23917 | &nbsp;&nbsp; 660220 |
| Eiffage S.A. | 14587 | &nbsp;&nbsp; 2171208 |
| Elis S.A. | 15381 | &nbsp;&nbsp; 448199 |
| Emeis S.A.<sup>(c)</sup> | 34058 | &nbsp;&nbsp; 552008 |

---

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

------

**Invesco RAFI Developed Markets ex-U.S. ETF (PXF)—(continued)**

January 31, 2026

*(Unaudited)*

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **France-(continued)** | **France-(continued)** | **France-(continued)** |
| ENGIE S.A. | 220094 | &nbsp;&nbsp; $6595064 |
| EssilorLuxottica S.A. | 11544 | &nbsp;&nbsp; 3541759 |
| Eurazeo SE | 2580 | &nbsp;&nbsp; 155540 |
| Forvia SE<sup>(c)</sup> | 112436 | &nbsp;&nbsp; 1842451 |
| Gecina S.A. | 6816 | &nbsp;&nbsp; 628330 |
| Hermes International S.C.A. | 356 | &nbsp;&nbsp; 859643 |
| Kering S.A. | 8546 | &nbsp;&nbsp; 2677552 |
| Klepierre S.A.<sup>(a)</sup> | 17682 | &nbsp;&nbsp; 683642 |
| Legrand S.A. | 12364 | &nbsp;&nbsp; 1981173 |
| L'Oreal S.A. | 10988 | &nbsp;&nbsp; 5066637 |
| LVMH Moet Hennessy Louis Vuitton SE | 11985 | &nbsp;&nbsp; 7763238 |
| Orange S.A. | 371266 | &nbsp;&nbsp; 6926890 |
| Pernod Ricard S.A. | 19962 | &nbsp;&nbsp; 1791412 |
| Publicis Groupe S.A. | 15545 | &nbsp;&nbsp; 1559333 |
| Renault S.A. | 73696 | &nbsp;&nbsp; 2791334 |
| Rexel S.A. | 48862 | &nbsp;&nbsp; 2055020 |
| Rubis S.C.A. | 16618 | &nbsp;&nbsp; 675355 |
| Safran S.A. | 8625 | &nbsp;&nbsp; 3092819 |
| Schneider Electric SE | 23247 | &nbsp;&nbsp; 6689142 |
| SCOR SE | 26110 | &nbsp;&nbsp; 853938 |
| SEB S.A. | 5959 | &nbsp;&nbsp; 337358 |
| Societe Generale S.A. | 97935 | &nbsp;&nbsp; 8613132 |
| Sodexo S.A. | 8658 | &nbsp;&nbsp; 443956 |
| SPIE S.A. | 8116 | &nbsp;&nbsp; 446321 |
| STMicroelectronics N.V. | 70103 | &nbsp;&nbsp; 1985523 |
| Teleperformance SE | 10247 | &nbsp;&nbsp; 664311 |
| Thales S.A. | 4114 | &nbsp;&nbsp; 1263971 |
| TotalEnergies SE | 429342 | &nbsp;&nbsp; 31338801 |
| Unibail-Rodamco-Westfield | 14922 | &nbsp;&nbsp; 1655837 |
| Valeo SE | 121906 | &nbsp;&nbsp; 1708765 |
| Veolia Environnement S.A. | 71315 | &nbsp;&nbsp; 2684531 |
| Vinci S.A. | 43140 | &nbsp;&nbsp; 6225378 |
| Worldline S.A.<sup>(a)(b)(c)</sup> | 168580 | &nbsp;&nbsp; 286587 |
|  |  | &nbsp;&nbsp; 179219174 |
| **Germany-8.21%** | **Germany-8.21%** | **Germany-8.21%** |
| adidas AG | 11705 | &nbsp;&nbsp; 2082868 |
| Allianz SE | 24729 | &nbsp;&nbsp; 10928232 |
| Aumovio SE<sup>(c)</sup> | 10893 | &nbsp;&nbsp; 524589 |
| Aurubis AG | 6090 | &nbsp;&nbsp; 1154172 |
| BASF SE | 219641 | &nbsp;&nbsp; 11950818 |
| Bayer AG | 362785 | &nbsp;&nbsp; 19257926 |
| Bayerische Motoren Werke AG<sup>(a)</sup> | 104936 | &nbsp;&nbsp; 10845552 |
| Beiersdorf AG | 4919 | &nbsp;&nbsp; 588864 |
| BioNTech SE, ADR<sup>(c)</sup> | 24702 | &nbsp;&nbsp; 2809853 |
| Brenntag SE | 17748 | &nbsp;&nbsp; 1083701 |
| Commerzbank AG | 63383 | &nbsp;&nbsp; 2614793 |
| Continental AG | 30873 | &nbsp;&nbsp; 2438189 |
| Daimler Truck Holding AG | 55227 | &nbsp;&nbsp; 2683736 |
| Deutsche Bank AG | 158889 | &nbsp;&nbsp; 6292684 |
| Deutsche Boerse AG | 5096 | &nbsp;&nbsp; 1295118 |
| Deutsche Lufthansa AG | 153439 | &nbsp;&nbsp; 1586383 |
| Deutsche Post AG | 138819 | &nbsp;&nbsp; 7792108 |
| Deutsche Telekom AG | 321759 | &nbsp;&nbsp; 10836856 |
| &nbsp;&nbsp;&nbsp; Dr. Ing. h.c. F. Porsche AG, Preference <br> Shares<sup>(a)(b)</sup><br>| 10428 | &nbsp;&nbsp; 509298 |
| E.ON SE | 203117 | &nbsp;&nbsp; 4323713 |
| Evonik Industries AG | 64830 | &nbsp;&nbsp; 1007855 |
| Freenet AG | 12794 | &nbsp;&nbsp; 463657 |
| Fresenius Medical Care AG | 38700 | &nbsp;&nbsp; 1748557 |
| Fresenius SE & Co. KGaA | 63374 | &nbsp;&nbsp; 3557865 |
| FUCHS SE, Preference Shares<sup>(a)</sup> | 9697 | &nbsp;&nbsp; 420692 |
| GEA Group AG | 9481 | &nbsp;&nbsp; 680378 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Germany-(continued)** | **Germany-(continued)** | **Germany-(continued)** |
| Hannover Rueck SE | 2841 | &nbsp;&nbsp; $806206 |
| Hapag-Lloyd AG<sup>(b)</sup> | 1840 | &nbsp;&nbsp; 265296 |
| Heidelberg Materials AG | 10880 | &nbsp;&nbsp; 2990525 |
| Henkel AG & Co. KGaA, Preference Shares | 20387 | &nbsp;&nbsp; 1797537 |
| Infineon Technologies AG | 74026 | &nbsp;&nbsp; 3631706 |
| K+S AG | 49391 | &nbsp;&nbsp; 812196 |
| KION Group AG | 11475 | &nbsp;&nbsp; 813476 |
| Knorr-Bremse AG | 4547 | &nbsp;&nbsp; 531352 |
| LANXESS AG | 29456 | &nbsp;&nbsp; 610632 |
| LEG Immobilien SE | 7258 | &nbsp;&nbsp; 526713 |
| Mercedes-Benz Group AG | 247054 | &nbsp;&nbsp; 16945979 |
| Merck KGaA | 10298 | &nbsp;&nbsp; 1539894 |
| MTU Aero Engines AG | 1397 | &nbsp;&nbsp; 623325 |
| &nbsp;&nbsp;&nbsp; Muenchener Rueckversicherungs-<br> Gesellschaft AG in Muenchen, Class R<br>| 7602 | &nbsp;&nbsp; 4624110 |
| &nbsp;&nbsp;&nbsp; Porsche Automobil Holding SE, Preference <br> Shares<br>| 50584 | &nbsp;&nbsp; 2172113 |
| Puma SE | 21444 | &nbsp;&nbsp; 550142 |
| Rheinmetall AG | 537 | &nbsp;&nbsp; 1141949 |
| RWE AG | 63552 | &nbsp;&nbsp; 4050443 |
| SAP SE | 29768 | &nbsp;&nbsp; 5968282 |
| Schaeffler AG | 62461 | &nbsp;&nbsp; 739344 |
| Siemens AG | 44908 | &nbsp;&nbsp; 13626307 |
| Siemens Energy AG, Class A<sup>(c)</sup> | 19204 | &nbsp;&nbsp; 3283850 |
| Siemens Healthineers AG<sup>(b)</sup> | 17244 | &nbsp;&nbsp; 863831 |
| Symrise AG | 7471 | &nbsp;&nbsp; 631244 |
| Talanx AG | 3662 | &nbsp;&nbsp; 463566 |
| thyssenkrupp AG | 179691 | &nbsp;&nbsp; 2404105 |
| Tkms AG & Co. KGaA<sup>(c)</sup> | 7092 | &nbsp;&nbsp; 831834 |
| Traton SE<sup>(a)</sup> | 11969 | &nbsp;&nbsp; 468108 |
| Volkswagen AG, Preference Shares<sup>(a)</sup> | 135307 | &nbsp;&nbsp; 16472975 |
| Vonovia SE | 63248 | &nbsp;&nbsp; 1858575 |
| Zalando SE<sup>(b)(c)</sup> | 18861 | &nbsp;&nbsp; 544323 |
|  |  | &nbsp;&nbsp; 202068395 |
| **Guatemala-0.03%** | **Guatemala-0.03%** | **Guatemala-0.03%** |
| Millicom International Cellular S.A. | 12261 | &nbsp;&nbsp; 748289 |
| **Hong Kong-1.53%** | **Hong Kong-1.53%** | **Hong Kong-1.53%** |
| AIA Group Ltd. | 770107 | &nbsp;&nbsp; 8887827 |
| CK Asset Holdings Ltd. | 303738 | &nbsp;&nbsp; 1779886 |
| CK Hutchison Holdings Ltd. | 429917 | &nbsp;&nbsp; 3467618 |
| CLP Holdings Ltd. | 195006 | &nbsp;&nbsp; 1843868 |
| Hang Lung Group Ltd.<sup>(a)</sup> | 64000 | &nbsp;&nbsp; 137860 |
| Henderson Land Development Co. Ltd.<sup>(a)</sup> | 216867 | &nbsp;&nbsp; 862879 |
| HKT Trust & HKT Ltd. | 348000 | &nbsp;&nbsp; 521680 |
| Hong Kong & China Gas Co. Ltd. (The)<sup>(a)</sup> | 972425 | &nbsp;&nbsp; 916159 |
| Hong Kong Exchanges & Clearing Ltd. | 18578 | &nbsp;&nbsp; 1024541 |
| Hongkong Land Holdings Ltd. | 161357 | &nbsp;&nbsp; 1369094 |
| Kerry Properties Ltd. | 106500 | &nbsp;&nbsp; 323408 |
| Link REIT | 308576 | &nbsp;&nbsp; 1419195 |
| MTR Corp. Ltd.<sup>(a)</sup> | 170090 | &nbsp;&nbsp; 752339 |
| New World Development Co. Ltd.<sup>(c)</sup> | 955075 | &nbsp;&nbsp; 1390030 |
| Pacific Basin Shipping Ltd. | 1138000 | &nbsp;&nbsp; 447068 |
| Prudential PLC | 176684 | &nbsp;&nbsp; 2910352 |
| Sino Land Co. Ltd. | 354000 | &nbsp;&nbsp; 532902 |
| Sun Hung Kai Properties Ltd. | 192426 | &nbsp;&nbsp; 3091098 |
| Swire Pacific Ltd., Class A<sup>(a)</sup> | 72065 | &nbsp;&nbsp; 695633 |
| Swire Properties Ltd. | 167600 | &nbsp;&nbsp; 508161 |
| Techtronic Industries Co. Ltd. | 91334 | &nbsp;&nbsp; 1247229 |
| WH Group Ltd. | 1781800 | &nbsp;&nbsp; 2103341 |

---

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

------

**Invesco RAFI Developed Markets ex-U.S. ETF (PXF)—(continued)**

January 31, 2026

*(Unaudited)*

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Hong Kong-(continued)** | **Hong Kong-(continued)** | **Hong Kong-(continued)** |
| Wharf Real Estate Investment Co. Ltd. | 224481 | &nbsp;&nbsp; $779584 |
| Yue Yuen Industrial Holdings Ltd.<sup>(a)</sup> | 242500 | &nbsp;&nbsp; 541013 |
|  |  | &nbsp;&nbsp; 37552765 |
| **Indonesia-0.05%** | **Indonesia-0.05%** | **Indonesia-0.05%** |
| Golden Agri-Resources Ltd. | 348276 | &nbsp;&nbsp; 79251 |
| Jardine Matheson Holdings Ltd. | 15021 | &nbsp;&nbsp; 1094699 |
|  |  | &nbsp;&nbsp; 1173950 |
| **Ireland-0.29%** | **Ireland-0.29%** | **Ireland-0.29%** |
| AerCap Holdings N.V. | 12256 | &nbsp;&nbsp; 1760697 |
| AIB Group PLC<sup>(c)</sup> | 140481 | &nbsp;&nbsp; 1576014 |
| Bank of Ireland Group PLC | 69263 | &nbsp;&nbsp; 1412354 |
| Glanbia PLC | 28174 | &nbsp;&nbsp; 544909 |
| Kerry Group PLC, Class A | 11729 | &nbsp;&nbsp; 1046397 |
| Kingspan Group PLC | 8664 | &nbsp;&nbsp; 757152 |
|  |  | &nbsp;&nbsp; 7097523 |
| **Israel-0.55%** | **Israel-0.55%** | **Israel-0.55%** |
| Bank Hapoalim B.M. | 82093 | &nbsp;&nbsp; 2035531 |
| Bank Leumi le-Israel B.M. | 83918 | &nbsp;&nbsp; 2023371 |
| Check Point Software Technologies Ltd.<sup>(c)</sup> | 3949 | &nbsp;&nbsp; 708885 |
| ICL Group Ltd. | 121911 | &nbsp;&nbsp; 663940 |
| Israel Discount Bank Ltd., Class A | 79057 | &nbsp;&nbsp; 934187 |
| Mizrahi Tefahot Bank Ltd. | 8679 | &nbsp;&nbsp; 680982 |
| Nice Ltd.<sup>(c)</sup> | 3556 | &nbsp;&nbsp; 377258 |
| Oil Refineries Ltd. | 362003 | &nbsp;&nbsp; 119397 |
| &nbsp;&nbsp;&nbsp; Teva Pharmaceutical Industries Ltd., <br> ADR<sup>(c)</sup><br>| 104256 | &nbsp;&nbsp; 3553044 |
| ZIM Integrated Shipping Services Ltd.<sup>(a)</sup> | 104855 | &nbsp;&nbsp; 2309956 |
|  |  | &nbsp;&nbsp; 13406551 |
| **Italy-2.45%** | **Italy-2.45%** | **Italy-2.45%** |
| A2A S.p.A. | 210353 | &nbsp;&nbsp; 636896 |
| Assicurazioni Generali S.p.A. | 94967 | &nbsp;&nbsp; 3887798 |
| Banca Monte dei Paschi di Siena S.p.A. | 127956 | &nbsp;&nbsp; 1332207 |
| Banco BPM S.p.A. | 83271 | &nbsp;&nbsp; 1252704 |
| BPER Banca S.p.A. | 77991 | &nbsp;&nbsp; 1102367 |
| Coca-Cola HBC AG<sup>(c)</sup> | 12231 | &nbsp;&nbsp; 666155 |
| Enel S.p.A. | 845652 | &nbsp;&nbsp; 9377136 |
| Eni S.p.A. | 499401 | &nbsp;&nbsp; 10244356 |
| Ferrari N.V. | 1652 | &nbsp;&nbsp; 553017 |
| FinecoBank Banca Fineco S.p.A. | 18584 | &nbsp;&nbsp; 494454 |
| Hera S.p.A. | 106476 | &nbsp;&nbsp; 528831 |
| Intesa Sanpaolo S.p.A. | 1034606 | &nbsp;&nbsp; 7350954 |
| Iveco Group N.V. | 28175 | &nbsp;&nbsp; 632525 |
| Leonardo S.p.A. | 25570 | &nbsp;&nbsp; 1714957 |
| Moncler S.p.A. | 8426 | &nbsp;&nbsp; 492711 |
| Nexi S.p.A.<sup>(a)(b)</sup> | 73933 | &nbsp;&nbsp; 316800 |
| Poste Italiane S.p.A.<sup>(b)</sup> | 29732 | &nbsp;&nbsp; 785928 |
| Prysmian S.p.A. | 12520 | &nbsp;&nbsp; 1488291 |
| Ryanair Holdings PLC | 38407 | &nbsp;&nbsp; 1308238 |
| Snam S.p.A. | 160165 | &nbsp;&nbsp; 1104758 |
| Telecom Italia S.p.A.<sup>(c)</sup> | 5881130 | &nbsp;&nbsp; 4003839 |
| Terna S.p.A. | 78642 | &nbsp;&nbsp; 855282 |
| UniCredit S.p.A. | 106852 | &nbsp;&nbsp; 9345514 |
| Unipol Assicurazioni S.p.A.<sup>(a)</sup> | 34770 | &nbsp;&nbsp; 777199 |
|  |  | &nbsp;&nbsp; 60252917 |
| **Japan-23.05%** | **Japan-23.05%** | **Japan-23.05%** |
| Advantest Corp. | 12521 | &nbsp;&nbsp; 2077518 |
| AEON Co. Ltd. | 155812 | &nbsp;&nbsp; 2138043 |
| AGC, Inc. | 56468 | &nbsp;&nbsp; 2090394 |
| Air Water, Inc. | 34523 | &nbsp;&nbsp; 525731 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Japan-(continued)** | **Japan-(continued)** | **Japan-(continued)** |
| Aisin Corp. | 151342 | &nbsp;&nbsp; $2720080 |
| Ajinomoto Co., Inc. | 54185 | &nbsp;&nbsp; 1243599 |
| Alfresa Holdings Corp. | 25533 | &nbsp;&nbsp; 412539 |
| Alps Alpine Co. Ltd. | 56088 | &nbsp;&nbsp; 737016 |
| Amada Co. Ltd. | 49516 | &nbsp;&nbsp; 636389 |
| ANA Holdings, Inc. | 44286 | &nbsp;&nbsp; 862596 |
| Asahi Group Holdings Ltd. | 199626 | &nbsp;&nbsp; 2096630 |
| Asahi Kasei Corp. | 237647 | &nbsp;&nbsp; 2312888 |
| Astellas Pharma, Inc. | 284077 | &nbsp;&nbsp; 3964290 |
| Bandai Namco Holdings, Inc. | 34603 | &nbsp;&nbsp; 900814 |
| Bridgestone Corp. | 190868 | &nbsp;&nbsp; 4311180 |
| Brother Industries Ltd. | 51481 | &nbsp;&nbsp; 1052976 |
| Canon, Inc.<sup>(a)</sup> | 125925 | &nbsp;&nbsp; 3845440 |
| Central Japan Railway Co. | 100438 | &nbsp;&nbsp; 2811111 |
| Chiba Bank Ltd. (The)<sup>(a)</sup> | 51010 | &nbsp;&nbsp; 692849 |
| Chubu Electric Power Co., Inc. | 148473 | &nbsp;&nbsp; 2164097 |
| Chugai Pharmaceutical Co. Ltd. | 23006 | &nbsp;&nbsp; 1318379 |
| Chugoku Electric Power Co., Inc. (The) | 96227 | &nbsp;&nbsp; 616215 |
| Coca-Cola Bottlers Japan Holdings, Inc.<sup>(a)</sup> | 28537 | &nbsp;&nbsp; 638630 |
| COMSYS Holdings Corp. | 21518 | &nbsp;&nbsp; 674487 |
| Cosmo Energy Holdings Co. Ltd. | 32331 | &nbsp;&nbsp; 972657 |
| Dai Nippon Printing Co. Ltd. | 69669 | &nbsp;&nbsp; 1254067 |
| Daicel Corp.<sup>(a)</sup> | 40941 | &nbsp;&nbsp; 387744 |
| Daifuku Co. Ltd. | 20272 | &nbsp;&nbsp; 729578 |
| Dai-ichi Life Holdings, Inc. | 342320 | &nbsp;&nbsp; 3020169 |
| Daiichi Sankyo Co. Ltd. | 104955 | &nbsp;&nbsp; 1928969 |
| Daikin Industries Ltd. | 28569 | &nbsp;&nbsp; 3434530 |
| Daito Trust Construction Co. Ltd. | 47444 | &nbsp;&nbsp; 966112 |
| Daiwa House Industry Co. Ltd. | 86439 | &nbsp;&nbsp; 2954875 |
| Daiwa Securities Group, Inc. | 113201 | &nbsp;&nbsp; 1106650 |
| Daiwabo Holdings Co. Ltd.<sup>(a)</sup> | 16113 | &nbsp;&nbsp; 317903 |
| Denka Co. Ltd. | 26030 | &nbsp;&nbsp; 502645 |
| Denso Corp. | 376310 | &nbsp;&nbsp; 5238136 |
| Dentsu Group, Inc.<sup>(a)(c)</sup> | 32252 | &nbsp;&nbsp; 628091 |
| DIC Corp. | 17928 | &nbsp;&nbsp; 440208 |
| Disco Corp. | 1930 | &nbsp;&nbsp; 825330 |
| Dowa Holdings Co. Ltd. | 12725 | &nbsp;&nbsp; 756119 |
| East Japan Railway Co. | 102919 | &nbsp;&nbsp; 2592079 |
| Ebara Corp. | 32727 | &nbsp;&nbsp; 994016 |
| Eisai Co. Ltd. | 51263 | &nbsp;&nbsp; 1433816 |
| Electric Power Development Co. Ltd. | 43087 | &nbsp;&nbsp; 918058 |
| ENEOS Holdings, Inc. | 630448 | &nbsp;&nbsp; 5345766 |
| EXEO Group, Inc. | 33731 | &nbsp;&nbsp; 564600 |
| FANUC Corp. | 65563 | &nbsp;&nbsp; 2641189 |
| Fast Retailing Co. Ltd. | 4402 | &nbsp;&nbsp; 1684952 |
| Fuji Electric Co. Ltd. | 15457 | &nbsp;&nbsp; 1104612 |
| Fuji Media Holdings, Inc. | 10816 | &nbsp;&nbsp; 273243 |
| FUJIFILM Holdings Corp. | 162420 | &nbsp;&nbsp; 3254898 |
| Fujikura Ltd. | 7972 | &nbsp;&nbsp; 1005224 |
| Fujitsu Ltd. | 135246 | &nbsp;&nbsp; 3770096 |
| Fukuoka Financial Group, Inc. | 17385 | &nbsp;&nbsp; 634235 |
| Furukawa Electric Co. Ltd. | 11090 | &nbsp;&nbsp; 969170 |
| GS Yuasa Corp. | 20109 | &nbsp;&nbsp; 469625 |
| Hankyu Hanshin Holdings, Inc.<sup>(a)</sup> | 27122 | &nbsp;&nbsp; 759783 |
| Hanwa Co. Ltd. | 5112 | &nbsp;&nbsp; 260809 |
| Haseko Corp. | 42299 | &nbsp;&nbsp; 869786 |
| Hino Motors Ltd.<sup>(a)(c)</sup> | 173863 | &nbsp;&nbsp; 469506 |
| Hitachi Construction Machinery Co. Ltd. | 17302 | &nbsp;&nbsp; 567592 |
| Hitachi Ltd. | 281827 | &nbsp;&nbsp; 9811133 |
| Honda Motor Co. Ltd. | 1240962 | &nbsp;&nbsp; 12521476 |
| Hoya Corp. | 10494 | &nbsp;&nbsp; 1766136 |
| Hulic Co. Ltd. | 43827 | &nbsp;&nbsp; 523976 |

---

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

------

**Invesco RAFI Developed Markets ex-U.S. ETF (PXF)—(continued)**

January 31, 2026

*(Unaudited)*

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Japan-(continued)** | **Japan-(continued)** | **Japan-(continued)** |
| Ibiden Co. Ltd. | 24724 | &nbsp;&nbsp; $1307545 |
| Idemitsu Kosan Co. Ltd. | 232201 | &nbsp;&nbsp; 1976674 |
| IHI Corp. | 44455 | &nbsp;&nbsp; 1031853 |
| Iida Group Holdings Co. Ltd. | 24852 | &nbsp;&nbsp; 411779 |
| INFRONEER Holdings, Inc. | 46029 | &nbsp;&nbsp; 691639 |
| Inpex Corp. | 181365 | &nbsp;&nbsp; 4076511 |
| Isetan Mitsukoshi Holdings Ltd. | 32359 | &nbsp;&nbsp; 520999 |
| Isuzu Motors Ltd. | 127514 | &nbsp;&nbsp; 2060886 |
| ITOCHU Corp. | 699525 | &nbsp;&nbsp; 8984748 |
| Iwatani Corp. | 40280 | &nbsp;&nbsp; 479310 |
| Japan Airlines Co. Ltd. | 44993 | &nbsp;&nbsp; 852908 |
| Japan Exchange Group, Inc. | 37694 | &nbsp;&nbsp; 412659 |
| Japan Metropolitan Fund Investment Corp. | 590 | &nbsp;&nbsp; 465884 |
| Japan Post Bank Co. Ltd. | 197925 | &nbsp;&nbsp; 3528014 |
| Japan Post Holdings Co. Ltd. | 312050 | &nbsp;&nbsp; 3767013 |
| Japan Post Insurance Co. Ltd. | 39725 | &nbsp;&nbsp; 1234353 |
| Japan Tobacco, Inc. | 96686 | &nbsp;&nbsp; 3505722 |
| JFE Holdings, Inc.<sup>(a)</sup> | 217118 | &nbsp;&nbsp; 2932574 |
| JGC Holdings Corp. | 47567 | &nbsp;&nbsp; 668768 |
| JTEKT Corp. | 75802 | &nbsp;&nbsp; 897960 |
| Kajima Corp. | 50296 | &nbsp;&nbsp; 2058515 |
| Kaneka Corp. | 11313 | &nbsp;&nbsp; 344166 |
| Kansai Electric Power Co., Inc. (The) | 156425 | &nbsp;&nbsp; 2503841 |
| Kansai Paint Co. Ltd.<sup>(a)</sup> | 26574 | &nbsp;&nbsp; 425479 |
| Kao Corp. | 46308 | &nbsp;&nbsp; 1858440 |
| Kawasaki Heavy Industries Ltd. | 14253 | &nbsp;&nbsp; 1193643 |
| Kawasaki Kisen Kaisha Ltd.<sup>(a)</sup> | 42406 | &nbsp;&nbsp; 614756 |
| KDDI Corp. | 341356 | &nbsp;&nbsp; 5782127 |
| Keyence Corp. | 4677 | &nbsp;&nbsp; 1721368 |
| Kikkoman Corp. | 56128 | &nbsp;&nbsp; 509355 |
| Kintetsu Group Holdings Co. Ltd. | 24967 | &nbsp;&nbsp; 519840 |
| Kirin Holdings Co. Ltd. | 133013 | &nbsp;&nbsp; 2074690 |
| Kobe Steel Ltd. | 109060 | &nbsp;&nbsp; 1574987 |
| Koito Manufacturing Co. Ltd. | 54161 | &nbsp;&nbsp; 850651 |
| Komatsu Ltd. | 119967 | &nbsp;&nbsp; 4606647 |
| Konami Group Corp. | 3039 | &nbsp;&nbsp; 445203 |
| Konica Minolta, Inc. | 167569 | &nbsp;&nbsp; 735868 |
| K's Holdings Corp. | 39426 | &nbsp;&nbsp; 411355 |
| Kubota Corp. | 202973 | &nbsp;&nbsp; 3119965 |
| Kuraray Co. Ltd. | 70797 | &nbsp;&nbsp; 766767 |
| Kurita Water Industries Ltd. | 11142 | &nbsp;&nbsp; 559127 |
| Kyocera Corp. | 233070 | &nbsp;&nbsp; 3508038 |
| Kyowa Kirin Co. Ltd. | 29376 | &nbsp;&nbsp; 478439 |
| Kyushu Electric Power Co., Inc. | 94561 | &nbsp;&nbsp; 1056057 |
| Kyushu Railway Co. | 15916 | &nbsp;&nbsp; 406623 |
| Lixil Corp. | 75371 | &nbsp;&nbsp; 867438 |
| LY Corp. | 247158 | &nbsp;&nbsp; 634880 |
| Makita Corp. | 29174 | &nbsp;&nbsp; 1016952 |
| Marubeni Corp. | 207051 | &nbsp;&nbsp; 6885605 |
| MatsukiyoCocokara & Co. | 36395 | &nbsp;&nbsp; 584896 |
| Mazda Motor Corp. | 395619 | &nbsp;&nbsp; 3054297 |
| Mebuki Financial Group, Inc. | 85831 | &nbsp;&nbsp; 649625 |
| Medipal Holdings Corp. | 22517 | &nbsp;&nbsp; 409429 |
| MEIJI Holdings Co. Ltd.<sup>(a)</sup> | 55236 | &nbsp;&nbsp; 1300150 |
| MINEBEA MITSUMI, Inc. | 59613 | &nbsp;&nbsp; 1222256 |
| MISUMI Group, Inc. | 33736 | &nbsp;&nbsp; 559474 |
| Mitsubishi Chemical Group Corp. | 348284 | &nbsp;&nbsp; 2306896 |
| Mitsubishi Corp. | 509218 | &nbsp;&nbsp; 13571909 |
| Mitsubishi Electric Corp. | 252649 | &nbsp;&nbsp; 7923891 |
| Mitsubishi Estate Co. Ltd. | 98559 | &nbsp;&nbsp; 2520009 |
| Mitsubishi Gas Chemical Co., Inc. | 42690 | &nbsp;&nbsp; 849616 |
| Mitsubishi HC Capital, Inc. | 114478 | &nbsp;&nbsp; 1002281 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Japan-(continued)** | **Japan-(continued)** | **Japan-(continued)** |
| Mitsubishi Heavy Industries Ltd. | 137127 | &nbsp;&nbsp; $4050646 |
| Mitsubishi Materials Corp. | 47391 | &nbsp;&nbsp; 1367578 |
| Mitsubishi Motors Corp. | 282661 | &nbsp;&nbsp; 697125 |
| Mitsubishi UFJ Financial Group, Inc. | 653899 | &nbsp;&nbsp; 11880736 |
| Mitsui & Co. Ltd. | 354881 | &nbsp;&nbsp; 11629776 |
| Mitsui Chemicals, Inc. | 98638 | &nbsp;&nbsp; 1445878 |
| Mitsui Fudosan Co. Ltd. | 226677 | &nbsp;&nbsp; 2607709 |
| Mitsui Kinzoku Co. Ltd. | 10755 | &nbsp;&nbsp; 1408173 |
| Mitsui OSK Lines Ltd.<sup>(a)</sup> | 53013 | &nbsp;&nbsp; 1667076 |
| Mizuho Financial Group, Inc. | 184692 | &nbsp;&nbsp; 8044938 |
| MS&AD Insurance Group Holdings, Inc. | 118241 | &nbsp;&nbsp; 3022259 |
| Murata Manufacturing Co. Ltd. | 204086 | &nbsp;&nbsp; 4159560 |
| Nagase & Co. Ltd. | 13627 | &nbsp;&nbsp; 355323 |
| Nagoya Railroad Co. Ltd.<sup>(a)</sup> | 33187 | &nbsp;&nbsp; 372110 |
| NEC Corp. | 92484 | &nbsp;&nbsp; 3145338 |
| Nexon Co. Ltd. | 23698 | &nbsp;&nbsp; 568794 |
| NGK Insulators Ltd. | 48722 | &nbsp;&nbsp; 1171065 |
| NH Foods Ltd. | 24560 | &nbsp;&nbsp; 1118676 |
| Nichirei Corp. | 37374 | &nbsp;&nbsp; 465279 |
| Nidec Corp. | 110996 | &nbsp;&nbsp; 1592918 |
| Nikon Corp.<sup>(a)</sup> | 79461 | &nbsp;&nbsp; 1003391 |
| Nintendo Co. Ltd. | 46969 | &nbsp;&nbsp; 2918009 |
| Nippon Building Fund, Inc. | 532 | &nbsp;&nbsp; 495075 |
| Nippon Electric Glass Co. Ltd. | 15283 | &nbsp;&nbsp; 666812 |
| Nippon Express Holdings, Inc., Class H | 59139 | &nbsp;&nbsp; 1347675 |
| Nippon Paint Holdings Co. Ltd. | 71729 | &nbsp;&nbsp; 477826 |
| Nippon Paper Industries Co. Ltd. | 34416 | &nbsp;&nbsp; 262184 |
| Nippon Sanso Holdings Corp. | 12525 | &nbsp;&nbsp; 381280 |
| Nippon Steel Corp. | 1162481 | &nbsp;&nbsp; 4859821 |
| Nippon Television Holdings, Inc. | 8824 | &nbsp;&nbsp; 212762 |
| Nippon Yusen K.K.<sup>(a)</sup> | 81578 | &nbsp;&nbsp; 2689741 |
| Nissan Chemical Corp. | 13135 | &nbsp;&nbsp; 454224 |
| Nissan Motor Co. Ltd.<sup>(a)(c)</sup> | 1850361 | &nbsp;&nbsp; 4524622 |
| Nisshin Seifun Group, Inc. | 44424 | &nbsp;&nbsp; 565957 |
| Nissin Foods Holdings Co. Ltd. | 23291 | &nbsp;&nbsp; 474123 |
| Nissui Corp. | 62323 | &nbsp;&nbsp; 527089 |
| Niterra Co. Ltd.<sup>(a)</sup> | 22528 | &nbsp;&nbsp; 988159 |
| Nitori Holdings Co. Ltd. | 41917 | &nbsp;&nbsp; 718851 |
| Nitto Denko Corp. | 69407 | &nbsp;&nbsp; 1547455 |
| Nomura Holdings, Inc. | 252325 | &nbsp;&nbsp; 2294066 |
| Nomura Real Estate Master Fund, Inc. | 383 | &nbsp;&nbsp; 415183 |
| Nomura Research Institute Ltd. | 17624 | &nbsp;&nbsp; 537867 |
| NSK Ltd. | 130469 | &nbsp;&nbsp; 910295 |
| NTT, Inc. | 5369175 | &nbsp;&nbsp; 5412865 |
| Obayashi Corp. | 85979 | &nbsp;&nbsp; 1947123 |
| Oji Holdings Corp. | 214684 | &nbsp;&nbsp; 1275795 |
| Olympus Corp. | 93251 | &nbsp;&nbsp; 1117448 |
| Omron Corp. | 39109 | &nbsp;&nbsp; 1001091 |
| Ono Pharmaceutical Co. Ltd. | 82390 | &nbsp;&nbsp; 1231454 |
| Oriental Land Co. Ltd. | 21126 | &nbsp;&nbsp; 371039 |
| ORIX Corp. | 119229 | &nbsp;&nbsp; 3645329 |
| Osaka Gas Co. Ltd. | 60073 | &nbsp;&nbsp; 2262611 |
| Otsuka Corp. | 24424 | &nbsp;&nbsp; 485812 |
| Otsuka Holdings Co. Ltd. | 52925 | &nbsp;&nbsp; 3178804 |
| Pan Pacific International Holdings Corp. | 92790 | &nbsp;&nbsp; 551148 |
| Panasonic Holdings Corp. | 492860 | &nbsp;&nbsp; 6779357 |
| Persol Holdings Co. Ltd. | 282633 | &nbsp;&nbsp; 496613 |
| Recruit Holdings Co. Ltd. | 55723 | &nbsp;&nbsp; 2944655 |
| Renesas Electronics Corp.<sup>(c)</sup> | 148190 | &nbsp;&nbsp; 2471712 |
| Rengo Co. Ltd. | 64249 | &nbsp;&nbsp; 552189 |
| Resona Holdings, Inc. | 171058 | &nbsp;&nbsp; 2001025 |
| Resonac Holdings Corp.<sup>(a)</sup> | 35244 | &nbsp;&nbsp; 2053428 |

---

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

------

**Invesco RAFI Developed Markets ex-U.S. ETF (PXF)—(continued)**

January 31, 2026

*(Unaudited)*

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Japan-(continued)** | **Japan-(continued)** | **Japan-(continued)** |
| Ricoh Co. Ltd. | 129435 | &nbsp;&nbsp; $1149038 |
| Rohm Co. Ltd. | 71312 | &nbsp;&nbsp; 1252846 |
| Ryohin Keikaku Co. Ltd. | 23160 | &nbsp;&nbsp; 463419 |
| Sankyu, Inc. | 8103 | &nbsp;&nbsp; 484304 |
| Santen Pharmaceutical Co. Ltd. | 48825 | &nbsp;&nbsp; 551044 |
| Sanwa Holdings Corp. | 14841 | &nbsp;&nbsp; 337258 |
| SBI Holdings, Inc. | 33076 | &nbsp;&nbsp; 750406 |
| SCREEN Holdings Co. Ltd. | 6339 | &nbsp;&nbsp; 809908 |
| Secom Co. Ltd. | 38454 | &nbsp;&nbsp; 1413274 |
| Seiko Epson Corp. | 69553 | &nbsp;&nbsp; 897889 |
| Seino Holdings Co. Ltd. | 25753 | &nbsp;&nbsp; 402207 |
| Sekisui Chemical Co. Ltd. | 67055 | &nbsp;&nbsp; 1189872 |
| Sekisui House Ltd.<sup>(a)</sup> | 108275 | &nbsp;&nbsp; 2420925 |
| Seven & i Holdings Co. Ltd. | 350427 | &nbsp;&nbsp; 5034593 |
| SG Holdings Co. Ltd.<sup>(a)</sup> | 77853 | &nbsp;&nbsp; 751904 |
| Sharp Corp.<sup>(a)(c)</sup> | 68975 | &nbsp;&nbsp; 315799 |
| Shimadzu Corp. | 22931 | &nbsp;&nbsp; 623493 |
| SHIMAMURA Co. Ltd. | 7114 | &nbsp;&nbsp; 478362 |
| Shimano, Inc. | 7749 | &nbsp;&nbsp; 886153 |
| Shimizu Corp. | 71219 | &nbsp;&nbsp; 1268872 |
| Shin-Etsu Chemical Co. Ltd. | 165048 | &nbsp;&nbsp; 5445127 |
| Shionogi & Co. Ltd. | 81246 | &nbsp;&nbsp; 1678211 |
| Shiseido Co. Ltd. | 62396 | &nbsp;&nbsp; 1069161 |
| Shizuoka Financial Group, Inc. | 42531 | &nbsp;&nbsp; 697038 |
| SMC Corp. | 5054 | &nbsp;&nbsp; 1971219 |
| SoftBank Corp. | 2640490 | &nbsp;&nbsp; 3600743 |
| SoftBank Group Corp. | 287044 | &nbsp;&nbsp; 7863828 |
| Sojitz Corp. | 42797 | &nbsp;&nbsp; 1565664 |
| Sompo Holdings, Inc. | 69148 | &nbsp;&nbsp; 2392265 |
| Sony Financial Group, Inc.<sup>(c)</sup> | 290578 | &nbsp;&nbsp; 293414 |
| Sony Group Corp. | 354736 | &nbsp;&nbsp; 7846538 |
| Stanley Electric Co. Ltd. | 26781 | &nbsp;&nbsp; 529302 |
| Subaru Corp. | 150979 | &nbsp;&nbsp; 3251749 |
| SUMCO Corp.<sup>(a)</sup> | 87897 | &nbsp;&nbsp; 920621 |
| Sumitomo Chemical Co. Ltd. | 566688 | &nbsp;&nbsp; 1729524 |
| Sumitomo Corp. | 155727 | &nbsp;&nbsp; 6344430 |
| Sumitomo Electric Industries Ltd. | 136909 | &nbsp;&nbsp; 6013241 |
| Sumitomo Forestry Co. Ltd.<sup>(a)</sup> | 85734 | &nbsp;&nbsp; 932568 |
| Sumitomo Heavy Industries Ltd. | 30158 | &nbsp;&nbsp; 942001 |
| Sumitomo Metal Mining Co. Ltd. | 58300 | &nbsp;&nbsp; 3305119 |
| Sumitomo Mitsui Financial Group, Inc. | 311436 | &nbsp;&nbsp; 10995096 |
| Sumitomo Mitsui Trust Group, Inc. | 57697 | &nbsp;&nbsp; 1933257 |
| Sumitomo Realty & Development Co. Ltd. | 47356 | &nbsp;&nbsp; 1322997 |
| Sumitomo Rubber Industries Ltd. | 52448 | &nbsp;&nbsp; 848000 |
| Suntory Beverage & Food Ltd. | 18875 | &nbsp;&nbsp; 599880 |
| Suzuken Co. Ltd. | 11939 | &nbsp;&nbsp; 482817 |
| Suzuki Motor Corp.<sup>(a)</sup> | 274113 | &nbsp;&nbsp; 3749665 |
| Sysmex Corp. | 36593 | &nbsp;&nbsp; 347375 |
| T&D Holdings, Inc. | 35196 | &nbsp;&nbsp; 872123 |
| Taiheiyo Cement Corp. | 25997 | &nbsp;&nbsp; 716696 |
| Taisei Corp. | 18862 | &nbsp;&nbsp; 1887548 |
| Taiyo Yuden Co. Ltd.<sup>(a)</sup> | 25063 | &nbsp;&nbsp; 531688 |
| Takashimaya Co. Ltd.<sup>(a)</sup> | 48268 | &nbsp;&nbsp; 605280 |
| Takeda Pharmaceutical Co. Ltd. | 286023 | &nbsp;&nbsp; 9767699 |
| TDK Corp. | 182380 | &nbsp;&nbsp; 2360919 |
| Teijin Ltd. | 48144 | &nbsp;&nbsp; 467273 |
| Terumo Corp. | 77851 | &nbsp;&nbsp; 1021690 |
| TIS, Inc. | 16562 | &nbsp;&nbsp; 483492 |
| Tobu Railway Co. Ltd. | 27536 | &nbsp;&nbsp; 487708 |
| Toho Gas Co. Ltd. | 13618 | &nbsp;&nbsp; 452577 |
| Tohoku Electric Power Co., Inc. | 127091 | &nbsp;&nbsp; 919663 |
| Tokio Marine Holdings, Inc. | 104111 | &nbsp;&nbsp; 3893060 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Japan-(continued)** | **Japan-(continued)** | **Japan-(continued)** |
| Tokyo Electric Power Co. Holdings, Inc.<sup>(c)</sup> | 662510 | &nbsp;&nbsp; $2496661 |
| Tokyo Electron Ltd. | 22840 | &nbsp;&nbsp; 6105652 |
| Tokyo Gas Co. Ltd. | 59349 | &nbsp;&nbsp; 2641592 |
| Tokyo Tatemono Co. Ltd. | 21112 | &nbsp;&nbsp; 498423 |
| Tokyu Corp. | 56719 | &nbsp;&nbsp; 642430 |
| Tokyu Fudosan Holdings Corp. | 78543 | &nbsp;&nbsp; 729627 |
| TOPPAN Holdings, Inc. | 42564 | &nbsp;&nbsp; 1319053 |
| Toray Industries, Inc. | 277349 | &nbsp;&nbsp; 2052417 |
| Tosoh Corp. | 61495 | &nbsp;&nbsp; 1006889 |
| TOTO Ltd. | 27171 | &nbsp;&nbsp; 856723 |
| Toyo Seikan Group Holdings Ltd. | 22620 | &nbsp;&nbsp; 569372 |
| Toyo Suisan Kaisha Ltd. | 7424 | &nbsp;&nbsp; 531766 |
| Toyo Tire Corp. | 18919 | &nbsp;&nbsp; 511514 |
| Toyoda Gosei Co. Ltd. | 20060 | &nbsp;&nbsp; 546755 |
| Toyota Boshoku Corp. | 29009 | &nbsp;&nbsp; 488696 |
| Toyota Industries Corp.<sup>(a)</sup> | 20403 | &nbsp;&nbsp; 2619150 |
| Toyota Motor Corp. | 1296676 | &nbsp;&nbsp; 29485080 |
| Toyota Tsusho Corp. | 103494 | &nbsp;&nbsp; 3781390 |
| Trend Micro, Inc.<sup>(c)</sup> | 6647 | &nbsp;&nbsp; 261593 |
| Tsuruha Holdings, Inc. | 32135 | &nbsp;&nbsp; 513724 |
| UBE Corp. | 30529 | &nbsp;&nbsp; 529658 |
| Unicharm Corp. | 95446 | &nbsp;&nbsp; 581541 |
| West Japan Railway Co.<sup>(a)</sup> | 51392 | &nbsp;&nbsp; 1053571 |
| Yakult Honsha Co. Ltd.<sup>(a)</sup> | 27658 | &nbsp;&nbsp; 448393 |
| Yamada Holdings Co. Ltd. | 180382 | &nbsp;&nbsp; 634424 |
| Yamaha Corp. | 87544 | &nbsp;&nbsp; 638373 |
| Yamaha Motor Co. Ltd.<sup>(a)</sup> | 247158 | &nbsp;&nbsp; 1872513 |
| Yamato Holdings Co. Ltd. | 70015 | &nbsp;&nbsp; 918395 |
| Yamazaki Baking Co. Ltd. | 21596 | &nbsp;&nbsp; 459048 |
| Yaskawa Electric Corp. | 23246 | &nbsp;&nbsp; 744401 |
| Yokogawa Electric Corp. | 23719 | &nbsp;&nbsp; 793328 |
| Yokohama Financial Group, Inc. | 89202 | &nbsp;&nbsp; 815061 |
| Yokohama Rubber Co. Ltd. (The) | 24528 | &nbsp;&nbsp; 971265 |
|  |  | &nbsp;&nbsp; 567368032 |
| **Luxembourg-0.41%** | **Luxembourg-0.41%** | **Luxembourg-0.41%** |
| Aperam S.A. | 15511 | &nbsp;&nbsp; 669836 |
| ArcelorMittal S.A. | 147826 | &nbsp;&nbsp; 8057273 |
| Eurofins Scientific SE | 9137 | &nbsp;&nbsp; 741801 |
| SES S.A., FDR | 72462 | &nbsp;&nbsp; 595656 |
|  |  | &nbsp;&nbsp; 10064566 |
| **Macau-0.02%** | **Macau-0.02%** | **Macau-0.02%** |
| Galaxy Entertainment Group Ltd. | 105569 | &nbsp;&nbsp; 536536 |
| **Netherlands-2.26%** | **Netherlands-2.26%** | **Netherlands-2.26%** |
| Aalberts N.V. | 13716 | &nbsp;&nbsp; 528586 |
| ABN AMRO Bank N.V., CVA<sup>(b)</sup> | 103697 | &nbsp;&nbsp; 3834399 |
| Adyen N.V.<sup>(b)(c)</sup> | 247 | &nbsp;&nbsp; 367592 |
| Akzo Nobel N.V. | 41762 | &nbsp;&nbsp; 2936347 |
| argenx SE, ADR<sup>(c)</sup> | 596 | &nbsp;&nbsp; 500938 |
| ASM International N.V. | 1043 | &nbsp;&nbsp; 879125 |
| ASML Holding N.V. | 7169 | &nbsp;&nbsp; 10316968 |
| ASR Nederland N.V. | 13612 | &nbsp;&nbsp; 992236 |
| Heineken Holding N.V. | 15885 | &nbsp;&nbsp; 1185002 |
| Heineken N.V. | 25089 | &nbsp;&nbsp; 2078602 |
| IMCD N.V.<sup>(a)</sup> | 3603 | &nbsp;&nbsp; 338003 |
| ING Groep N.V. | 304978 | &nbsp;&nbsp; 9026714 |
| JDE Peet's N.V. | 16848 | &nbsp;&nbsp; 636581 |
| Koninklijke Ahold Delhaize N.V. | 172099 | &nbsp;&nbsp; 6753512 |
| Koninklijke KPN N.V. | 277103 | &nbsp;&nbsp; 1362040 |
| Koninklijke Philips N.V. | 100268 | &nbsp;&nbsp; 2889725 |
| Magnum Ice Cream Co. N.V. (The)<sup>(c)</sup> | 28882 | &nbsp;&nbsp; 514243 |
| NN Group N.V. | 38506 | &nbsp;&nbsp; 3063339 |

---

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

------

**Invesco RAFI Developed Markets ex-U.S. ETF (PXF)—(continued)**

January 31, 2026

*(Unaudited)*

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Netherlands-(continued)** | **Netherlands-(continued)** | **Netherlands-(continued)** |
| NXP Semiconductors N.V. | 12818 | &nbsp;&nbsp; $2898662 |
| Prosus N.V.<sup>(c)</sup> | 26121 | &nbsp;&nbsp; 1507440 |
| Randstad N.V.<sup>(a)</sup> | 28737 | &nbsp;&nbsp; 1032129 |
| SBM Offshore N.V. | 19763 | &nbsp;&nbsp; 712467 |
| Universal Music Group N.V. | 16735 | &nbsp;&nbsp; 411790 |
| Wolters Kluwer N.V. | 7917 | &nbsp;&nbsp; 746128 |
|  |  | &nbsp;&nbsp; 55512568 |
| **New Zealand-0.03%** | **New Zealand-0.03%** | **New Zealand-0.03%** |
| Fletcher Building Ltd.<sup>(c)</sup> | 109217 | &nbsp;&nbsp; 246661 |
| Spark New Zealand Ltd. | 285562 | &nbsp;&nbsp; 390473 |
|  |  | &nbsp;&nbsp; 637134 |
| **Norway-0.62%** | **Norway-0.62%** | **Norway-0.62%** |
| Aker BP ASA | 57502 | &nbsp;&nbsp; 1698285 |
| DNB Bank ASA | 73778 | &nbsp;&nbsp; 2122394 |
| Equinor ASA | 217471 | &nbsp;&nbsp; 5864452 |
| Mowi ASA | 38174 | &nbsp;&nbsp; 882874 |
| Norsk Hydro ASA | 245515 | &nbsp;&nbsp; 2186795 |
| Orkla ASA | 60411 | &nbsp;&nbsp; 721147 |
| Telenor ASA | 74557 | &nbsp;&nbsp; 1260598 |
| Wallenius Wilhelmsen ASA | 46037 | &nbsp;&nbsp; 536643 |
|  |  | &nbsp;&nbsp; 15273188 |
| **Poland-0.40%** | **Poland-0.40%** | **Poland-0.40%** |
| Bank Polska Kasa Opieki S.A. | 12370 | &nbsp;&nbsp; 755861 |
| KGHM Polska Miedz S.A.<sup>(c)</sup> | 18991 | &nbsp;&nbsp; 1770407 |
| ORLEN S.A.<sup>(a)</sup> | 138938 | &nbsp;&nbsp; 4242568 |
| PGE Polska Grupa Energetyczna S.A.<sup>(c)</sup> | 170839 | &nbsp;&nbsp; 484096 |
| &nbsp;&nbsp;&nbsp; Powszechna Kasa Oszczednosci Bank Polski <br> S.A.<br>| 34937 | &nbsp;&nbsp; 913020 |
| Powszechny Zaklad Ubezpieczen S.A. | 57378 | &nbsp;&nbsp; 1134305 |
| Tauron Polska Energia S.A.<sup>(c)</sup> | 176247 | &nbsp;&nbsp; 547647 |
|  |  | &nbsp;&nbsp; 9847904 |
| **Portugal-0.16%** | **Portugal-0.16%** | **Portugal-0.16%** |
| EDP S.A. | 420113 | &nbsp;&nbsp; 2156020 |
| Galp Energia SGPS S.A. | 59131 | &nbsp;&nbsp; 1180837 |
| Jeronimo Martins SGPS S.A. | 24641 | &nbsp;&nbsp; 583169 |
|  |  | &nbsp;&nbsp; 3920026 |
| **Russia-0.00%** | **Russia-0.00%** | **Russia-0.00%** |
| Evraz PLC<sup>(c)(d)</sup> | 48360 | &nbsp;&nbsp; 0 |
| Raspadskaya OJSC<sup>(c)(d)</sup> | 546 | &nbsp;&nbsp; 0 |
|  |  | &nbsp;&nbsp; 0 |
| **Singapore-0.81%** | **Singapore-0.81%** | **Singapore-0.81%** |
| CapitaLand Ascendas REIT | 265874 | &nbsp;&nbsp; 596442 |
| CapitaLand Integrated Commercial Trust | 414939 | &nbsp;&nbsp; 780912 |
| ComfortDelGro Corp. Ltd. | 336357 | &nbsp;&nbsp; 389548 |
| DBS Group Holdings Ltd. | 100810 | &nbsp;&nbsp; 4697333 |
| Keppel Ltd. | 124170 | &nbsp;&nbsp; 1070823 |
| Olam Group Ltd. | 114129 | &nbsp;&nbsp; 80363 |
| Oversea-Chinese Banking Corp. Ltd. | 262714 | &nbsp;&nbsp; 4395290 |
| Sea Ltd., ADR<sup>(c)</sup> | 6026 | &nbsp;&nbsp; 701969 |
| Singapore Airlines Ltd.<sup>(a)</sup> | 187404 | &nbsp;&nbsp; 937810 |
| Singapore Telecommunications Ltd. | 488373 | &nbsp;&nbsp; 1766693 |
| United Overseas Bank Ltd. | 112714 | &nbsp;&nbsp; 3405404 |
| UOL Group Ltd. | 79672 | &nbsp;&nbsp; 682107 |
| Venture Corp. Ltd. | 40896 | &nbsp;&nbsp; 526433 |
|  |  | &nbsp;&nbsp; 20031127 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **South Africa-0.39%** | **South Africa-0.39%** | **South Africa-0.39%** |
| Anglo American PLC | 185212 | &nbsp;&nbsp; $8612361 |
| Valterra Platinum Ltd. | 11678 | &nbsp;&nbsp; 1056852 |
|  |  | &nbsp;&nbsp; 9669213 |
| **South Korea-8.91%** | **South Korea-8.91%** | **South Korea-8.91%** |
| BNK Financial Group, Inc. | 61362 | &nbsp;&nbsp; 707082 |
| Celltrion, Inc.<sup>(c)</sup> | 5257 | &nbsp;&nbsp; 765083 |
| CJ CheilJedang Corp.<sup>(a)</sup> | 3214 | &nbsp;&nbsp; 475307 |
| CJ Corp. | 5805 | &nbsp;&nbsp; 876724 |
| DB Insurance Co. Ltd. | 6359 | &nbsp;&nbsp; 627821 |
| DL E&C Co. Ltd.<sup>(c)</sup> | 11626 | &nbsp;&nbsp; 356928 |
| Doosan Enerbility Co. Ltd.<sup>(c)</sup> | 18920 | &nbsp;&nbsp; 1181101 |
| E-MART, Inc. | 10087 | &nbsp;&nbsp; 636682 |
| GS Engineering & Construction Corp.<sup>(a)</sup> | 26085 | &nbsp;&nbsp; 338635 |
| GS Holdings Corp. | 15047 | &nbsp;&nbsp; 716701 |
| Hana Financial Group, Inc. | 41061 | &nbsp;&nbsp; 2853004 |
| Hankook Tire & Technology Co. Ltd. | 16696 | &nbsp;&nbsp; 738444 |
| Hanwha Corp.<sup>(c)</sup> | 11067 | &nbsp;&nbsp; 878664 |
| Hanwha Solutions Corp.<sup>(a)(c)</sup> | 24855 | &nbsp;&nbsp; 474548 |
| HD Hyundai Co. Ltd. | 7288 | &nbsp;&nbsp; 1182754 |
| &nbsp;&nbsp;&nbsp; HD Korea Shipbuilding & Offshore <br> Engineering Co. Ltd.<br>| 2736 | &nbsp;&nbsp; 783683 |
| HMM Co. Ltd.<sup>(a)</sup> | 67045 | &nbsp;&nbsp; 929289 |
| &nbsp;&nbsp;&nbsp; Hyundai Engineering & Construction Co. <br> Ltd.<br>| 20782 | &nbsp;&nbsp; 1475159 |
| Hyundai Glovis Co. Ltd.<sup>(a)</sup> | 6519 | &nbsp;&nbsp; 1099099 |
| Hyundai Mobis Co. Ltd.<sup>(a)</sup> | 11392 | &nbsp;&nbsp; 3559509 |
| Hyundai Motor Co. | 44166 | &nbsp;&nbsp; 15374432 |
| Hyundai Steel Co. | 36462 | &nbsp;&nbsp; 791344 |
| Industrial Bank of Korea<sup>(a)</sup> | 40407 | &nbsp;&nbsp; 620809 |
| Kakao Corp. | 18123 | &nbsp;&nbsp; 770305 |
| KB Financial Group, Inc. | 43480 | &nbsp;&nbsp; 4069694 |
| Kia Corp. | 56049 | &nbsp;&nbsp; 5963794 |
| Korea Electric Power Corp.<sup>(c)</sup> | 70316 | &nbsp;&nbsp; 2836063 |
| Korea Gas Corp.<sup>(c)</sup> | 19884 | &nbsp;&nbsp; 552448 |
| Korea Zinc Co. Ltd. | 1023 | &nbsp;&nbsp; 1332655 |
| Korean Air Lines Co. Ltd.<sup>(c)</sup> | 42816 | &nbsp;&nbsp; 690328 |
| KT Corp. | 614 | &nbsp;&nbsp; 24292 |
| KT&G Corp.<sup>(a)</sup> | 10286 | &nbsp;&nbsp; 1100069 |
| Kumho Petrochemical Co. Ltd.<sup>(c)</sup> | 5428 | &nbsp;&nbsp; 542151 |
| LG Chem Ltd. | 14768 | &nbsp;&nbsp; 3171006 |
| LG Corp.<sup>(a)</sup> | 13640 | &nbsp;&nbsp; 865845 |
| LG Display Co. Ltd.<sup>(a)(c)</sup> | 84132 | &nbsp;&nbsp; 678367 |
| LG Electronics, Inc. | 34728 | &nbsp;&nbsp; 2381082 |
| LG H&H Co. Ltd.<sup>(a)</sup> | 2508 | &nbsp;&nbsp; 455731 |
| LG Innotek Co. Ltd.<sup>(a)</sup> | 5129 | &nbsp;&nbsp; 870913 |
| LG Uplus Corp. | 62108 | &nbsp;&nbsp; 689999 |
| LOTTE Chemical Corp.<sup>(a)</sup> | 8827 | &nbsp;&nbsp; 509422 |
| LS Corp. | 3831 | &nbsp;&nbsp; 604128 |
| NAVER Corp. | 10282 | &nbsp;&nbsp; 1954420 |
| POSCO Holdings, Inc. | 25435 | &nbsp;&nbsp; 6103475 |
| Samsung C&T Corp. | 11784 | &nbsp;&nbsp; 2456428 |
| Samsung E&A Co. Ltd. | 24694 | &nbsp;&nbsp; 525644 |
| Samsung Electro-Mechanics Co. Ltd. | 7865 | &nbsp;&nbsp; 1512587 |
| Samsung Electronics Co. Ltd. | 947987 | &nbsp;&nbsp; 104728655 |
| Samsung Fire & Marine Insurance Co. Ltd. | 3145 | &nbsp;&nbsp; 1093442 |
| Samsung Life Insurance Co. Ltd. | 10507 | &nbsp;&nbsp; 1368070 |
| Samsung SDI Co. Ltd.<sup>(a)(c)</sup> | 9414 | &nbsp;&nbsp; 2534025 |
| Samsung SDS Co. Ltd. | 6341 | &nbsp;&nbsp; 760364 |
| Shinhan Financial Group Co. Ltd. | 71382 | &nbsp;&nbsp; 4171831 |
| SK hynix, Inc. | 29683 | &nbsp;&nbsp; 18533397 |
| SK Innovation Co. Ltd.<sup>(a)</sup> | 15628 | &nbsp;&nbsp; 1212469 |
| SK Telecom Co. Ltd. | 31076 | &nbsp;&nbsp; 1566105 |

---

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

------

**Invesco RAFI Developed Markets ex-U.S. ETF (PXF)—(continued)**

January 31, 2026

*(Unaudited)*

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **South Korea-(continued)** | **South Korea-(continued)** | **South Korea-(continued)** |
| SK, Inc. | 10190 | &nbsp;&nbsp; $2353196 |
| S-Oil Corp.<sup>(c)</sup> | 10553 | &nbsp;&nbsp; 775277 |
| Woori Financial Group, Inc. | 104853 | &nbsp;&nbsp; 2193406 |
|  |  | &nbsp;&nbsp; 219393885 |
| **Spain-2.74%** | **Spain-2.74%** | **Spain-2.74%** |
| &nbsp;&nbsp;&nbsp; ACS Actividades de Construccion y <br> Servicios S.A.<br>| 16550 | &nbsp;&nbsp; 1863585 |
| Aena S.M.E. S.A.<sup>(b)</sup> | 21774 | &nbsp;&nbsp; 678701 |
| Amadeus IT Group S.A. | 14839 | &nbsp;&nbsp; 998515 |
| Banco Bilbao Vizcaya Argentaria S.A. | 448456 | &nbsp;&nbsp; 11424761 |
| Banco de Sabadell S.A. | 382651 | &nbsp;&nbsp; 1506504 |
| Banco Santander S.A. | 1529712 | &nbsp;&nbsp; 19602329 |
| Bankinter S.A. | 36666 | &nbsp;&nbsp; 628159 |
| CaixaBank S.A. | 198898 | &nbsp;&nbsp; 2635017 |
| Cellnex Telecom S.A.<sup>(a)(b)</sup> | 22248 | &nbsp;&nbsp; 690631 |
| Enagas S.A. | 32979 | &nbsp;&nbsp; 544909 |
| Endesa S.A. | 33684 | &nbsp;&nbsp; 1247948 |
| Grifols S.A.<sup>(a)</sup> | 72343 | &nbsp;&nbsp; 928918 |
| Iberdrola S.A. | 368842 | &nbsp;&nbsp; 8322669 |
| &nbsp;&nbsp;&nbsp; Iberdrola S.A., Rts., expiring <br> 03/31/2026<sup>(a)(c)</sup><br>| 368842 | &nbsp;&nbsp; 113735 |
| Industria de Diseno Textil S.A. | 44157 | &nbsp;&nbsp; 2883726 |
| Mapfre S.A.<sup>(a)</sup> | 139095 | &nbsp;&nbsp; 638771 |
| Merlin Properties SOCIMI S.A. | 30899 | &nbsp;&nbsp; 461545 |
| Naturgy Energy Group S.A. | 14833 | &nbsp;&nbsp; 467460 |
| Redeia Corp. S.A. | 43708 | &nbsp;&nbsp; 758100 |
| Repsol S.A. | 371429 | &nbsp;&nbsp; 7344111 |
| Telefonica S.A.<sup>(a)</sup> | 874314 | &nbsp;&nbsp; 3552329 |
|  |  | &nbsp;&nbsp; 67292423 |
| **Sweden-2.06%** | **Sweden-2.06%** | **Sweden-2.06%** |
| Alfa Laval AB | 12948 | &nbsp;&nbsp; 754659 |
| Assa Abloy AB, Class B | 51772 | &nbsp;&nbsp; 2106411 |
| Atlas Copco AB, Class A | 138501 | &nbsp;&nbsp; 2874022 |
| Autoliv, Inc. | 7877 | &nbsp;&nbsp; 955007 |
| Billerud AB<sup>(a)</sup> | 42988 | &nbsp;&nbsp; 349775 |
| Boliden AB<sup>(c)</sup> | 38874 | &nbsp;&nbsp; 2739210 |
| Castellum AB<sup>(a)</sup> | 41224 | &nbsp;&nbsp; 512802 |
| Electrolux AB, Class B<sup>(a)(c)</sup> | 103907 | &nbsp;&nbsp; 844557 |
| Epiroc AB, Class A | 38541 | &nbsp;&nbsp; 1087170 |
| EQT AB<sup>(a)</sup> | 11995 | &nbsp;&nbsp; 458121 |
| Essity AB, Class B | 57334 | &nbsp;&nbsp; 1708177 |
| Evolution AB<sup>(a)(b)</sup> | 6843 | &nbsp;&nbsp; 447304 |
| H & M Hennes & Mauritz AB, Class B<sup>(a)</sup> | 65443 | &nbsp;&nbsp; 1318684 |
| Hexagon AB, Class B | 96503 | &nbsp;&nbsp; 1094866 |
| Holmen AB, Class B<sup>(a)</sup> | 11077 | &nbsp;&nbsp; 417790 |
| Husqvarna AB, Class B | 95039 | &nbsp;&nbsp; 488545 |
| NIBE Industrier AB, Class B<sup>(a)</sup> | 103504 | &nbsp;&nbsp; 398976 |
| Sandvik AB | 68200 | &nbsp;&nbsp; 2709777 |
| Securitas AB, Class B<sup>(a)</sup> | 48457 | &nbsp;&nbsp; 806330 |
| &nbsp;&nbsp;&nbsp; Skandinaviska Enskilda Banken AB, <br> Class A<sup>(a)</sup><br>| 116719 | &nbsp;&nbsp; 2524468 |
| Skanska AB, Class B | 43658 | &nbsp;&nbsp; 1334266 |
| SKF AB, Class B<sup>(a)</sup> | 47129 | &nbsp;&nbsp; 1239959 |
| Spotify Technology S.A.<sup>(c)</sup> | 941 | &nbsp;&nbsp; 470829 |
| SSAB AB, Class A | 208715 | &nbsp;&nbsp; 1736375 |
| Svenska Cellulosa AB S.C.A., Class B<sup>(a)</sup> | 49971 | &nbsp;&nbsp; 629588 |
| Svenska Handelsbanken AB, Class A<sup>(a)</sup> | 124536 | &nbsp;&nbsp; 1975571 |
| Swedbank AB, Class A | 85367 | &nbsp;&nbsp; 3339807 |
| Tele2 AB, Class B | 61988 | &nbsp;&nbsp; 1147606 |
| Telefonaktiebolaget LM Ericsson, Class B | 462135 | &nbsp;&nbsp; 5036236 |
| Telia Co. AB<sup>(a)</sup> | 271444 | &nbsp;&nbsp; 1247821 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Sweden-(continued)** | **Sweden-(continued)** | **Sweden-(continued)** |
| Trelleborg AB, Class B | 17095 | &nbsp;&nbsp; $696088 |
| Volvo AB, Class B<sup>(a)</sup> | 180267 | &nbsp;&nbsp; 6591323 |
| Volvo Car AB, Class B<sup>(a)(c)</sup> | 217368 | &nbsp;&nbsp; 729909 |
|  |  | &nbsp;&nbsp; 50772029 |
| **Switzerland-3.90%** | **Switzerland-3.90%** | **Switzerland-3.90%** |
| ABB Ltd. | 58498 | &nbsp;&nbsp; 5056188 |
| Adecco Group AG<sup>(a)(c)</sup> | 56114 | &nbsp;&nbsp; 1655412 |
| Barry Callebaut AG<sup>(a)</sup> | 419 | &nbsp;&nbsp; 742003 |
| Bucher Industries AG<sup>(c)</sup> | 1038 | &nbsp;&nbsp; 483409 |
| &nbsp;&nbsp;&nbsp; Chocoladefabriken Lindt & Spruengli AG, <br> PC<br>| 65 | &nbsp;&nbsp; 937786 |
| Cie Financiere Richemont S.A. | 17532 | &nbsp;&nbsp; 3416389 |
| Clariant AG<sup>(a)(c)</sup> | 44204 | &nbsp;&nbsp; 410595 |
| DKSH Holding AG | 5455 | &nbsp;&nbsp; 401804 |
| DSM-Firmenich AG | 20158 | &nbsp;&nbsp; 1595298 |
| Galenica AG<sup>(b)(c)</sup> | 4133 | &nbsp;&nbsp; 518628 |
| Geberit AG | 1188 | &nbsp;&nbsp; 910680 |
| Givaudan S.A. | 273 | &nbsp;&nbsp; 1059390 |
| Helvetia Baloise Holding AG | 4320 | &nbsp;&nbsp; 1099910 |
| Julius Baer Group Ltd. | 13560 | &nbsp;&nbsp; 1137084 |
| &nbsp;&nbsp;&nbsp; Kuehne + Nagel International AG, <br> Class R<sup>(a)</sup><br>| 5297 | &nbsp;&nbsp; 1231364 |
| Logitech International S.A., Class R | 9031 | &nbsp;&nbsp; 781071 |
| Lonza Group AG | 2326 | &nbsp;&nbsp; 1586558 |
| Nestle S.A. | 161328 | &nbsp;&nbsp; 15454951 |
| Partners Group Holding AG | 551 | &nbsp;&nbsp; 754240 |
| PSP Swiss Property AG | 2483 | &nbsp;&nbsp; 500327 |
| Roche Holding AG | 63509 | &nbsp;&nbsp; 28992590 |
| Sandoz Group AG | 28904 | &nbsp;&nbsp; 2298865 |
| Schindler Holding AG, PC | 2444 | &nbsp;&nbsp; 946673 |
| SGS S.A. | 5235 | &nbsp;&nbsp; 632536 |
| Sika AG | 6444 | &nbsp;&nbsp; 1241361 |
| Sonova Holding AG, Class A | 2022 | &nbsp;&nbsp; 555544 |
| &nbsp;&nbsp;&nbsp; Sunrise Communications AG, (Acquired <br> 03/21/2025 - 12/19/2025; <br> Cost $467,811)<sup>(e)</sup><br>| 8737 | &nbsp;&nbsp; 497813 |
| Swatch Group AG (The), BR<sup>(a)</sup> | 7750 | &nbsp;&nbsp; 1835640 |
| Swiss Life Holding AG | 1532 | &nbsp;&nbsp; 1686465 |
| Swiss Prime Site AG | 4452 | &nbsp;&nbsp; 760864 |
| Swisscom AG | 2186 | &nbsp;&nbsp; 1801877 |
| UBS Group AG | 182238 | &nbsp;&nbsp; 8656256 |
| Zurich Insurance Group AG | 8946 | &nbsp;&nbsp; 6389176 |
|  |  | &nbsp;&nbsp; 96028747 |
| **United Kingdom-10.94%** | **United Kingdom-10.94%** | **United Kingdom-10.94%** |
| 3i Group PLC | 37033 | &nbsp;&nbsp; 1706114 |
| Aberdeen Group PLC | 345867 | &nbsp;&nbsp; 1035631 |
| Admiral Group PLC | 13813 | &nbsp;&nbsp; 521320 |
| AngloGold Ashanti PLC | 14943 | &nbsp;&nbsp; 1387756 |
| Ashtead Group PLC | 26062 | &nbsp;&nbsp; 1682647 |
| Associated British Foods PLC | 44621 | &nbsp;&nbsp; 1169463 |
| AstraZeneca PLC | 69207 | &nbsp;&nbsp; 12931002 |
| Aviva PLC | 257105 | &nbsp;&nbsp; 2247794 |
| B&M European Value Retail S.A. | 230945 | &nbsp;&nbsp; 559137 |
| BAE Systems PLC | 153973 | &nbsp;&nbsp; 4191814 |
| Balfour Beatty PLC | 76347 | &nbsp;&nbsp; 749745 |
| Barclays PLC | 1754370 | &nbsp;&nbsp; 11742166 |
| Barratt Redrow PLC | 230177 | &nbsp;&nbsp; 1229126 |
| Bellway PLC | 23142 | &nbsp;&nbsp; 863684 |
| Berkeley Group Holdings PLC (The) | 13614 | &nbsp;&nbsp; 771368 |
| British American Tobacco PLC | 266233 | &nbsp;&nbsp; 16129952 |
| British Land Co. PLC (The) | 102840 | &nbsp;&nbsp; 588264 |

---

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

------

**Invesco RAFI Developed Markets ex-U.S. ETF (PXF)—(continued)**

January 31, 2026

*(Unaudited)*

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **United Kingdom-(continued)** | **United Kingdom-(continued)** | **United Kingdom-(continued)** |
| BT Group PLC | 1561389 | &nbsp;&nbsp; $4115847 |
| Bunzl PLC | 33103 | &nbsp;&nbsp; 930957 |
| Burberry Group PLC<sup>(c)</sup> | 56395 | &nbsp;&nbsp; 854498 |
| Centrica PLC | 661327 | &nbsp;&nbsp; 1736629 |
| Coca-Cola Europacific Partners PLC | 11061 | &nbsp;&nbsp; 1014294 |
| Compass Group PLC | 68444 | &nbsp;&nbsp; 2058175 |
| Croda International PLC | 14847 | &nbsp;&nbsp; 556413 |
| Currys PLC | 239477 | &nbsp;&nbsp; 481293 |
| DCC PLC<sup>(a)</sup> | 20173 | &nbsp;&nbsp; 1282401 |
| Diageo PLC | 138541 | &nbsp;&nbsp; 3196958 |
| Dowlais Group PLC | 365091 | &nbsp;&nbsp; 466635 |
| Drax Group PLC | 67478 | &nbsp;&nbsp; 834982 |
| Entain PLC | 58984 | &nbsp;&nbsp; 490740 |
| Haleon PLC | 724515 | &nbsp;&nbsp; 3799947 |
| Halma PLC | 10748 | &nbsp;&nbsp; 523503 |
| Hays PLC<sup>(a)</sup> | 262205 | &nbsp;&nbsp; 170991 |
| HSBC Holdings PLC | 1676105 | &nbsp;&nbsp; 29652345 |
| ICG PLC | 15784 | &nbsp;&nbsp; 393879 |
| IG Group Holdings PLC | 32376 | &nbsp;&nbsp; 602354 |
| IMI PLC | 15224 | &nbsp;&nbsp; 576532 |
| Imperial Brands PLC | 85076 | &nbsp;&nbsp; 3593428 |
| Inchcape PLC | 66043 | &nbsp;&nbsp; 740626 |
| Informa PLC | 72340 | &nbsp;&nbsp; 875475 |
| &nbsp;&nbsp;&nbsp; International Consolidated Airlines Group <br> S.A.<br>| 167210 | &nbsp;&nbsp; 963374 |
| Intertek Group PLC | 9028 | &nbsp;&nbsp; 555426 |
| Investec PLC | 79018 | &nbsp;&nbsp; 658054 |
| ITV PLC | 497017 | &nbsp;&nbsp; 555727 |
| J Sainsbury PLC | 579039 | &nbsp;&nbsp; 2544418 |
| JD Sports Fashion PLC<sup>(a)</sup> | 351683 | &nbsp;&nbsp; 394700 |
| Johnson Matthey PLC | 50115 | &nbsp;&nbsp; 1625232 |
| Kingfisher PLC | 512830 | &nbsp;&nbsp; 2370059 |
| Land Securities Group PLC | 88350 | &nbsp;&nbsp; 790810 |
| Legal & General Group PLC | 557862 | &nbsp;&nbsp; 2031269 |
| Lloyds Banking Group PLC | 6533651 | &nbsp;&nbsp; 9783896 |
| London Stock Exchange Group PLC | 18206 | &nbsp;&nbsp; 2036526 |
| M&G PLC | 531299 | &nbsp;&nbsp; 2258731 |
| Man Group PLC | 161533 | &nbsp;&nbsp; 584700 |
| Marks & Spencer Group PLC | 214134 | &nbsp;&nbsp; 1076987 |
| Melrose Industries PLC | 113173 | &nbsp;&nbsp; 975828 |
| National Grid PLC | 352682 | &nbsp;&nbsp; 6008994 |
| NatWest Group PLC | 790693 | &nbsp;&nbsp; 7227544 |
| Next PLC | 5701 | &nbsp;&nbsp; 1038019 |
| Pearson PLC | 57122 | &nbsp;&nbsp; 753465 |
| Pennon Group PLC | 59701 | &nbsp;&nbsp; 448769 |
| Persimmon PLC | 79883 | &nbsp;&nbsp; 1542711 |
| Phoenix Group Holdings PLC | 62965 | &nbsp;&nbsp; 640013 |
| Quilter PLC<sup>(b)</sup> | 191011 | &nbsp;&nbsp; 509910 |
| Reckitt Benckiser Group PLC | 47099 | &nbsp;&nbsp; 3940628 |
| RELX PLC | 42205 | &nbsp;&nbsp; 1500518 |
| Rentokil Initial PLC | 133637 | &nbsp;&nbsp; 831825 |
| Rolls-Royce Holdings PLC | 56755 | &nbsp;&nbsp; 951477 |
| RS Group PLC | 55928 | &nbsp;&nbsp; 515026 |
| Sage Group PLC (The) | 46527 | &nbsp;&nbsp; 611858 |
| Schroders PLC | 95851 | &nbsp;&nbsp; 595368 |
| Segro PLC | 98762 | &nbsp;&nbsp; 1031893 |
| Severn Trent PLC | 17226 | &nbsp;&nbsp; 693868 |
| Shell PLC | 1171772 | &nbsp;&nbsp; 45170763 |
| Smith & Nephew PLC | 73946 | &nbsp;&nbsp; 1263874 |
| Smiths Group PLC | 26962 | &nbsp;&nbsp; 928565 |
| SSE PLC | 87150 | &nbsp;&nbsp; 2904903 |
| St. James's Place PLC | 29310 | &nbsp;&nbsp; 613894 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **United Kingdom-(continued)** | **United Kingdom-(continued)** | **United Kingdom-(continued)** |
| Standard Chartered PLC | 269100 | &nbsp;&nbsp; $6904939 |
| Subsea 7 S.A. | 29495 | &nbsp;&nbsp; 756424 |
| Tate & Lyle PLC<sup>(a)</sup> | 64938 | &nbsp;&nbsp; 336925 |
| Taylor Wimpey PLC | 753302 | &nbsp;&nbsp; 1104438 |
| Tesco PLC | 1127702 | &nbsp;&nbsp; 6580583 |
| Travis Perkins PLC | 71085 | &nbsp;&nbsp; 610224 |
| Unilever PLC | 128686 | &nbsp;&nbsp; 8779395 |
| United Utilities Group PLC | 46505 | &nbsp;&nbsp; 798694 |
| Vistry Group PLC<sup>(c)</sup> | 63462 | &nbsp;&nbsp; 579934 |
| Vodafone Group PLC | 8781077 | &nbsp;&nbsp; 12968994 |
| Weir Group PLC (The) | 12521 | &nbsp;&nbsp; 554614 |
| Whitbread PLC<sup>(a)</sup> | 23967 | &nbsp;&nbsp; 897201 |
| WPP PLC | 239968 | &nbsp;&nbsp; 998279 |
|  |  | &nbsp;&nbsp; 269256151 |
| **United States-4.85%** | **United States-4.85%** | **United States-4.85%** |
| A.P. Moller - Maersk A/S, Class B<sup>(a)</sup> | 2631 | &nbsp;&nbsp; 6529737 |
| Acerinox S.A. | 35555 | &nbsp;&nbsp; 530074 |
| Aegon Ltd. | 104147 | &nbsp;&nbsp; 820989 |
| Alcon AG | 25181 | &nbsp;&nbsp; 2046150 |
| Allegion PLC | 3669 | &nbsp;&nbsp; 606816 |
| Amrize Ltd.<sup>(c)</sup> | 22746 | &nbsp;&nbsp; 1207950 |
| Aptiv PLC<sup>(c)</sup> | 31280 | &nbsp;&nbsp; 2369460 |
| ARM Holdings PLC, ADR<sup>(a)(c)</sup> | 3733 | &nbsp;&nbsp; 393309 |
| Bausch Health Cos., Inc.<sup>(c)</sup> | 95988 | &nbsp;&nbsp; 553607 |
| BeOne Medicines Ltd.<sup>(a)(c)</sup> | 6800 | &nbsp;&nbsp; 179391 |
| BP PLC | 3354738 | &nbsp;&nbsp; 21331555 |
| Experian PLC | 26713 | &nbsp;&nbsp; 1014632 |
| Garmin Ltd. | 6442 | &nbsp;&nbsp; 1298965 |
| GSK PLC | 423560 | &nbsp;&nbsp; 10985196 |
| Holcim AG<sup>(c)</sup> | 32470 | &nbsp;&nbsp; 3359685 |
| ICON PLC<sup>(c)</sup> | 5886 | &nbsp;&nbsp; 1060951 |
| lululemon athletica, Inc.<sup>(c)</sup> | 5023 | &nbsp;&nbsp; 876513 |
| Medtronic PLC | 111140 | &nbsp;&nbsp; 11442974 |
| Novartis AG | 122833 | &nbsp;&nbsp; 18295711 |
| Perrigo Co. PLC | 36748 | &nbsp;&nbsp; 522189 |
| Qiagen N.V. | 10442 | &nbsp;&nbsp; 555635 |
| Sanofi S.A. | 131997 | &nbsp;&nbsp; 12495621 |
| Signify N.V. | 36917 | &nbsp;&nbsp; 786575 |
| Sims Ltd. | 22910 | &nbsp;&nbsp; 322701 |
| Smurfit WestRock PLC | 33548 | &nbsp;&nbsp; 1396603 |
| Stellantis N.V. | 1093211 | &nbsp;&nbsp; 10765996 |
| Swiss Re AG<sup>(c)</sup> | 15882 | &nbsp;&nbsp; 2547573 |
| Tenaris S.A. | 43648 | &nbsp;&nbsp; 973069 |
| Trane Technologies PLC | 4516 | &nbsp;&nbsp; 1899339 |
| Transocean Ltd.<sup>(c)</sup> | 215111 | &nbsp;&nbsp; 1069102 |
| Waste Connections, Inc.<sup>(a)</sup> | 7229 | &nbsp;&nbsp; 1216088 |
|  |  | &nbsp;&nbsp; 119454156 |
| **Zambia-0.07%** | **Zambia-0.07%** | **Zambia-0.07%** |
| First Quantum Minerals Ltd.<sup>(c)</sup> | 63685 | &nbsp;&nbsp; 1810165 |
| &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES <br>(excluding investments purchased with cash collateral <br> from securities on loan)-99.85% <br>(Cost $1,647,306,302) | &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES <br>(excluding investments purchased with cash collateral <br> from securities on loan)-99.85% <br>(Cost $1,647,306,302) | &nbsp;&nbsp; 2457600977 |
| **Investments Purchased with Cash Collateral from Securities** <br> **on Loan** | **Investments Purchased with Cash Collateral from Securities** <br> **on Loan** | **Investments Purchased with Cash Collateral from Securities** <br> **on Loan** |
| **Money Market Funds-5.38%** | **Money Market Funds-5.38%** | **Money Market Funds-5.38%** |
| &nbsp;&nbsp;&nbsp; Invesco Private Government Fund, <br> 3.65%<sup>(f)(g)(h)</sup><br>| 36815584 | &nbsp;&nbsp; 36815584 |

---

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

------

**Invesco RAFI Developed Markets ex-U.S. ETF (PXF)—(continued)**

January 31, 2026

*(Unaudited)*

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Money Market Funds-(continued)** | **Money Market Funds-(continued)** | **Money Market Funds-(continued)** |
| Invesco Private Prime Fund, 3.80%<sup>(f)(g)(h)</sup> | 95640211 | &nbsp;&nbsp; $95668903 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Investments Purchased with Cash Collateral from <br> Securities on Loan <br>(Cost $132,484,487) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Investments Purchased with Cash Collateral from <br> Securities on Loan <br>(Cost $132,484,487) | &nbsp;&nbsp; 132484487 |
| &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES-105.23% <br>(Cost $1,779,790,789) | &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES-105.23% <br>(Cost $1,779,790,789) | &nbsp;&nbsp; 2590085464 |
| OTHER ASSETS LESS LIABILITIES-(5.23)% | OTHER ASSETS LESS LIABILITIES-(5.23)% | &nbsp;&nbsp; (128686160)<br>|
| NET ASSETS-100.00% | NET ASSETS-100.00% | &nbsp;&nbsp; $2461399304 |

---

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

---

| |
|:---|
| Investment Abbreviations: |
| ADR-American Depositary Receipt |
| BR-Bearer Shares |
| CDI-CREST Depository Interest |
| CVA-Dutch Certificates |
| FDR-Fiduciary Depositary Receipt |
| PC-Participation Certificate |
| REIT-Real Estate Investment Trust |
| Rts.-Rights |

---

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

---

| | |
|:---|:---|
| Notes to Schedule of Investments: | Notes to Schedule of Investments: |
| <sup>(a)</sup> | All or a portion of this security was out on loan at January 31, 2026. |
| <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 $15,148,419, which represented less than 1% of the Fund's Net Assets.<br>|
| <sup>(c)</sup> | Non-income producing security. |
| <sup>(d)</sup> | Security valued using significant unobservable inputs (Level 3). See Note 1. |
| <sup>(e)</sup> | Restricted security. The value of this security at January 31, 2026 represented less than 1% of the Fund's Net Assets. |
| <sup>(f)</sup> | Affiliated holding. Affiliated holdings are investments in entities which are under common ownership or control of Invesco Ltd. or are investments in entities in <br> which the Fund owns 5% or more of the outstanding voting securities. The table below shows the Fund's transactions in, and earnings from, its investments in <br> affiliates for the three months ended 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; $- | &nbsp;&nbsp;&nbsp; $32456883 | &nbsp;&nbsp;&nbsp; $(32456883)<br>| &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $12858 |
| **Investments** <br> **Purchased with Cash** <br> **Collateral from** <br> **Securities on Loan:**<br>|  |  |  |  |  |  |  |
| &nbsp;&nbsp; Invesco Private <br> Government Fund<br>| &nbsp;&nbsp;&nbsp; 39266155 | &nbsp;&nbsp;&nbsp; 70987085 | &nbsp;&nbsp;&nbsp; (73437656)<br>| &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; 36815584 | &nbsp;&nbsp;&nbsp; 457,166<br> \*<br>|
| &nbsp;&nbsp; Invesco Private Prime <br> Fund<br>| &nbsp;&nbsp;&nbsp; 115622990 | &nbsp;&nbsp;&nbsp; 131621191 | &nbsp;&nbsp;&nbsp; (151575278)<br>| &nbsp;&nbsp;&nbsp; 1580 | &nbsp;&nbsp;&nbsp; (1580)<br>| &nbsp;&nbsp;&nbsp; 95668903 | &nbsp;&nbsp;&nbsp; 1,236,687<br> \*<br>|
| &nbsp;&nbsp; Total | &nbsp;&nbsp;&nbsp; $154889145 | &nbsp;&nbsp;&nbsp; $235065159 | &nbsp;&nbsp;&nbsp; $(257469817)<br>| &nbsp;&nbsp;&nbsp; $1580 | &nbsp;&nbsp;&nbsp; $(1580)<br>| &nbsp;&nbsp;&nbsp; $132484487 | &nbsp;&nbsp;&nbsp; $1706711 |

---

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

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

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

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

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

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

------

Schedule of Investments

**Invesco RAFI Developed Markets ex-U.S. Small-Mid ETF (PDN)**

January 31, 2026

*(Unaudited)*

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

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Common Stocks & Other Equity Interests-99.83%** | **Common Stocks & Other Equity Interests-99.83%** | **Common Stocks & Other Equity Interests-99.83%** |
| **Australia-5.93%** | **Australia-5.93%** | **Australia-5.93%** |
| Accent Group Ltd.<sup>(a)</sup> | 91609 | &nbsp;&nbsp; $59189 |
| ALS Ltd. | 27560 | &nbsp;&nbsp; 472773 |
| Amotiv Ltd. | 16931 | &nbsp;&nbsp; 99371 |
| AMP Ltd. | 389582 | &nbsp;&nbsp; 458841 |
| Ansell Ltd. | 19547 | &nbsp;&nbsp; 445846 |
| ARB Corp. Ltd. | 5400 | &nbsp;&nbsp; 97156 |
| ASX Ltd. | 11508 | &nbsp;&nbsp; 460832 |
| Atlas Arteria Ltd. | 90541 | &nbsp;&nbsp; 314349 |
| AUB Group Ltd. | 5363 | &nbsp;&nbsp; 113251 |
| Austal Ltd.<sup>(b)</sup> | 35476 | &nbsp;&nbsp; 172113 |
| Bank of Queensland Ltd.<sup>(a)</sup> | 110970 | &nbsp;&nbsp; 525806 |
| Bapcor Ltd.<sup>(a)</sup> | 50820 | &nbsp;&nbsp; 75591 |
| Beach Energy Ltd.<sup>(a)</sup> | 399240 | &nbsp;&nbsp; 344270 |
| Bega Cheese Ltd. | 37302 | &nbsp;&nbsp; 158842 |
| Breville Group Ltd.<sup>(a)</sup> | 6325 | &nbsp;&nbsp; 141790 |
| BWP Property Group Ltd. | 24423 | &nbsp;&nbsp; 63839 |
| CAR Group Ltd. | 12322 | &nbsp;&nbsp; 237202 |
| Centuria Capital Group | 78540 | &nbsp;&nbsp; 105942 |
| Centuria Industrial REIT | 63690 | &nbsp;&nbsp; 144776 |
| Challenger Ltd. | 61308 | &nbsp;&nbsp; 392853 |
| Charter Hall Group | 30315 | &nbsp;&nbsp; 485685 |
| Charter Hall Long Wale REIT | 75161 | &nbsp;&nbsp; 204518 |
| Charter Hall Retail REIT | 61049 | &nbsp;&nbsp; 167247 |
| Cleanaway Waste Management Ltd.<sup>(a)</sup> | 224426 | &nbsp;&nbsp; 386996 |
| Cochlear Ltd. | 2645 | &nbsp;&nbsp; 495984 |
| Corporate Travel Management Ltd.<sup>(a)</sup> | 4811 | &nbsp;&nbsp; 876 |
| Credit Corp. Group Ltd. | 11920 | &nbsp;&nbsp; 117791 |
| Cromwell Property Group | 189232 | &nbsp;&nbsp; 54285 |
| Domino's Pizza Enterprises Ltd. | 10011 | &nbsp;&nbsp; 159531 |
| Eagers Automotive Ltd.<sup>(a)</sup> | 26312 | &nbsp;&nbsp; 491393 |
| Elders Ltd. | 45569 | &nbsp;&nbsp; 234846 |
| Evolution Mining Ltd. | 98621 | &nbsp;&nbsp; 952792 |
| Flight Centre Travel Group Ltd.<sup>(a)</sup> | 17266 | &nbsp;&nbsp; 194811 |
| G8 Education Ltd.<sup>(a)</sup> | 168181 | &nbsp;&nbsp; 78614 |
| GrainCorp Ltd., Class A | 45814 | &nbsp;&nbsp; 231117 |
| Harvey Norman Holdings Ltd. | 91328 | &nbsp;&nbsp; 412877 |
| Healius Ltd.<sup>(a)</sup> | 177871 | &nbsp;&nbsp; 112018 |
| Helia Group Ltd. | 52819 | &nbsp;&nbsp; 214864 |
| HomeCo Daily Needs REIT<sup>(c)</sup> | 174465 | &nbsp;&nbsp; 157493 |
| IDP Education Ltd.<sup>(a)</sup> | 28615 | &nbsp;&nbsp; 125275 |
| IGO Ltd.<sup>(b)</sup> | 109983 | &nbsp;&nbsp; 632480 |
| Iluka Resources Ltd. | 95883 | &nbsp;&nbsp; 353520 |
| Ingenia Communities Group | 31837 | &nbsp;&nbsp; 105017 |
| Inghams Group Ltd. | 74220 | &nbsp;&nbsp; 129780 |
| Insignia Financial Ltd.<sup>(b)</sup> | 91247 | &nbsp;&nbsp; 296602 |
| IPH Ltd.<sup>(a)</sup> | 36946 | &nbsp;&nbsp; 96446 |
| IRESS Ltd. | 21077 | &nbsp;&nbsp; 119379 |
| Lottery Corp. Ltd. (The) | 54053 | &nbsp;&nbsp; 193721 |
| Lynas Rare Earths Ltd.<sup>(b)</sup> | 25957 | &nbsp;&nbsp; 262863 |
| Magellan Financial Group Ltd. | 37164 | &nbsp;&nbsp; 226026 |
| Monadelphous Group Ltd. | 13231 | &nbsp;&nbsp; 286399 |
| Myer Holdings Ltd.<sup>(a)(b)</sup> | 283356 | &nbsp;&nbsp; 86041 |
| National Storage REIT | 140837 | &nbsp;&nbsp; 271520 |
| New Hope Corp. Ltd.<sup>(a)</sup> | 131652 | &nbsp;&nbsp; 415310 |
| NEXTDC Ltd.<sup>(a)(b)</sup> | 14285 | &nbsp;&nbsp; 132783 |
| nib holdings Ltd. | 53554 | &nbsp;&nbsp; 251295 |
| Nine Entertainment Co. Holdings Ltd. | 288922 | &nbsp;&nbsp; 230501 |
| NRW Holdings Ltd. | 73818 | &nbsp;&nbsp; 267958 |
| Nufarm Ltd.<sup>(a)(b)</sup> | 77844 | &nbsp;&nbsp; 127883 |
| OceanaGold Corp. | 19633 | &nbsp;&nbsp; 639669 |
| Orora Ltd. | 252003 | &nbsp;&nbsp; 360004 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Australia-(continued)** | **Australia-(continued)** | **Australia-(continued)** |
| Perenti Ltd. | 147811 | &nbsp;&nbsp; $286269 |
| Perpetual Ltd. | 17312 | &nbsp;&nbsp; 218093 |
| Perseus Mining Ltd. | 94985 | &nbsp;&nbsp; 368041 |
| PLS Group Ltd.<sup>(a)(b)</sup> | 260081 | &nbsp;&nbsp; 767727 |
| Premier Investments Ltd. | 12248 | &nbsp;&nbsp; 114130 |
| Qantas Airways Ltd. | 41393 | &nbsp;&nbsp; 291150 |
| Qube Holdings Ltd. | 152766 | &nbsp;&nbsp; 508332 |
| Ramelius Resources Ltd. | 68632 | &nbsp;&nbsp; 212649 |
| REA Group Ltd. | 920 | &nbsp;&nbsp; 121695 |
| Reece Ltd. | 38091 | &nbsp;&nbsp; 392250 |
| Region Group | 149140 | &nbsp;&nbsp; 240655 |
| Regis Resources Ltd. | 81731 | &nbsp;&nbsp; 428572 |
| Sandfire Resources Ltd.<sup>(b)</sup> | 35290 | &nbsp;&nbsp; 481739 |
| SEEK Ltd. | 20526 | &nbsp;&nbsp; 299928 |
| Service Stream Ltd. | 75276 | &nbsp;&nbsp; 120025 |
| SGH Ltd. | 10482 | &nbsp;&nbsp; 337954 |
| Sigma Healthcare Ltd. | 78644 | &nbsp;&nbsp; 169538 |
| Stanmore Resources Ltd. | 81276 | &nbsp;&nbsp; 171163 |
| Steadfast Group Ltd.<sup>(a)</sup> | 62750 | &nbsp;&nbsp; 228619 |
| Super Retail Group Ltd.<sup>(a)</sup> | 26869 | &nbsp;&nbsp; 275832 |
| Tabcorp Holdings Ltd. | 384202 | &nbsp;&nbsp; 237276 |
| TPG Telecom Ltd. | 73845 | &nbsp;&nbsp; 200403 |
| Ventia Services Group Pty. Ltd. | 53502 | &nbsp;&nbsp; 215566 |
| Waypoint REIT Ltd. | 82602 | &nbsp;&nbsp; 141649 |
| WiseTech Global Ltd. | 2011 | &nbsp;&nbsp; 81060 |
|  |  | &nbsp;&nbsp; 22559157 |
| **Austria-0.77%** | **Austria-0.77%** | **Austria-0.77%** |
| ANDRITZ AG | 7820 | &nbsp;&nbsp; 679076 |
| CA Immobilien Anlagen AG<sup>(a)</sup> | 5024 | &nbsp;&nbsp; 150459 |
| EVN AG | 5619 | &nbsp;&nbsp; 190017 |
| Kontron AG<sup>(a)</sup> | 6801 | &nbsp;&nbsp; 189373 |
| Lenzing AG<sup>(a)(b)</sup> | 4278 | &nbsp;&nbsp; 129622 |
| Mayr Melnhof Karton AG<sup>(a)</sup> | 921 | &nbsp;&nbsp; 104762 |
| Oesterreichische Post AG<sup>(a)</sup> | 3490 | &nbsp;&nbsp; 136600 |
| Palfinger AG | 3052 | &nbsp;&nbsp; 131620 |
| Strabag SE, BR | 2723 | &nbsp;&nbsp; 282993 |
| Telekom Austria AG | 6629 | &nbsp;&nbsp; 70654 |
| UNIQA Insurance Group AG | 15439 | &nbsp;&nbsp; 287231 |
| Verbund AG<sup>(a)</sup> | 3001 | &nbsp;&nbsp; 220999 |
| &nbsp;&nbsp;&nbsp; Vienna Insurance Group AG Wiener <br> Versicherung Gruppe<br>| 4383 | &nbsp;&nbsp; 345771 |
|  |  | &nbsp;&nbsp; 2919177 |
| **Belgium-1.52%** | **Belgium-1.52%** | **Belgium-1.52%** |
| Aedifica S.A.<sup>(a)</sup> | 5167 | &nbsp;&nbsp; 456647 |
| Azelis Group N.V.<sup>(a)</sup> | 22387 | &nbsp;&nbsp; 222493 |
| Barco N.V. | 11760 | &nbsp;&nbsp; 162026 |
| Bekaert S.A. | 5864 | &nbsp;&nbsp; 288713 |
| Cofinimmo S.A. | 5358 | &nbsp;&nbsp; 559148 |
| Colruyt Group N.V<sup>(a)</sup> | 7705 | &nbsp;&nbsp; 296325 |
| Deme Group N.V. | 742 | &nbsp;&nbsp; 148447 |
| D'Ieteren Group | 1526 | &nbsp;&nbsp; 348851 |
| Elia Group S.A./N.V. | 3229 | &nbsp;&nbsp; 469193 |
| Fagron | 4833 | &nbsp;&nbsp; 127517 |
| Financiere de Tubize S.A. | 667 | &nbsp;&nbsp; 170761 |
| Galapagos N.V.<sup>(a)(b)</sup> | 10158 | &nbsp;&nbsp; 344925 |
| Gimv N.V.<sup>(a)</sup> | 2815 | &nbsp;&nbsp; 152573 |
| KBC Ancora | 3024 | &nbsp;&nbsp; 278906 |
| Lotus Bakeries N.V. | 11 | &nbsp;&nbsp; 130157 |
| Melexis N.V.<sup>(a)</sup> | 2625 | &nbsp;&nbsp; 199164 |
| Montea N.V. | 1789 | &nbsp;&nbsp; 152081 |
| Ontex Group N.V.<sup>(a)(b)</sup> | 14568 | &nbsp;&nbsp; 85035 |

---

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

------

**Invesco RAFI Developed Markets ex-U.S. Small-Mid ETF (PDN)—(continued)**

January 31, 2026

*(Unaudited)*

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Belgium-(continued)** | **Belgium-(continued)** | **Belgium-(continued)** |
| Retail Estates N.V. | 1393 | &nbsp;&nbsp; $107157 |
| Shurgard Self Storage Ltd. | 3666 | &nbsp;&nbsp; 133550 |
| Solvay S.A., Class A<sup>(a)</sup> | 11245 | &nbsp;&nbsp; 332256 |
| Tessenderlo Group S.A.<sup>(a)</sup> | 2115 | &nbsp;&nbsp; 68853 |
| Warehouses De Pauw C.V.A. | 15118 | &nbsp;&nbsp; 429933 |
| Xior Student Housing N.V.<sup>(a)(c)</sup> | 3829 | &nbsp;&nbsp; 127895 |
|  |  | &nbsp;&nbsp; 5792606 |
| **Brazil-0.07%** | **Brazil-0.07%** | **Brazil-0.07%** |
| ERO Copper Corp.<sup>(b)</sup> | 7726 | &nbsp;&nbsp; 260624 |
| **Canada-9.40%** | **Canada-9.40%** | **Canada-9.40%** |
| AbCellera Biologics, Inc.<sup>(a)(b)</sup> | 40257 | &nbsp;&nbsp; 145730 |
| Advantage Energy Ltd.<sup>(b)</sup> | 27246 | &nbsp;&nbsp; 221525 |
| Aecon Group, Inc. | 16855 | &nbsp;&nbsp; 439376 |
| Air Canada<sup>(b)</sup> | 24638 | &nbsp;&nbsp; 342965 |
| Alamos Gold, Inc., Class A | 15578 | &nbsp;&nbsp; 580487 |
| Alaris Equity Partners Income | 6226 | &nbsp;&nbsp; 99265 |
| Algoma Steel Group, Inc.<sup>(a)</sup> | 66713 | &nbsp;&nbsp; 280814 |
| Allied Properties REIT<sup>(a)</sup> | 44320 | &nbsp;&nbsp; 459843 |
| Altus Group Ltd. | 2716 | &nbsp;&nbsp; 92663 |
| Aritzia, Inc.<sup>(b)</sup> | 3013 | &nbsp;&nbsp; 238811 |
| Athabasca Oil Corp.<sup>(b)</sup> | 58899 | &nbsp;&nbsp; 347526 |
| ATS Corp.<sup>(b)</sup> | 7366 | &nbsp;&nbsp; 210512 |
| Badger Infrastructure Solutions Ltd. | 3005 | &nbsp;&nbsp; 170849 |
| Baytex Energy Corp. | 237125 | &nbsp;&nbsp; 823016 |
| Birchcliff Energy Ltd. | 70858 | &nbsp;&nbsp; 383030 |
| Bird Construction, Inc. | 5302 | &nbsp;&nbsp; 118088 |
| BlackBerry Ltd.<sup>(b)</sup> | 55640 | &nbsp;&nbsp; 199279 |
| Boardwalk REIT | 4763 | &nbsp;&nbsp; 242169 |
| Bombardier, Inc., Class B<sup>(b)</sup> | 2292 | &nbsp;&nbsp; 393710 |
| Boralex, Inc., Class A<sup>(a)</sup> | 11092 | &nbsp;&nbsp; 206826 |
| Boyd Group, Inc. | 1686 | &nbsp;&nbsp; 277860 |
| Brookfield Business Corp., Class A | 5716 | &nbsp;&nbsp; 203963 |
| Brookfield Infrastructure Corp. | 5352 | &nbsp;&nbsp; 257373 |
| Brookfield Renewable Corp. | 7906 | &nbsp;&nbsp; 331093 |
| Brookfield Wealth Solutions Ltd.<sup>(b)</sup> | 4691 | &nbsp;&nbsp; 215229 |
| BRP, Inc. | 8018 | &nbsp;&nbsp; 608507 |
| Cameco Corp. | 8838 | &nbsp;&nbsp; 1099145 |
| Canaccord Genuity Group, Inc. | 12822 | &nbsp;&nbsp; 112298 |
| Canada Packers, Inc. | 1913 | &nbsp;&nbsp; 22561 |
| Canadian Solar, Inc.<sup>(a)(b)</sup> | 28403 | &nbsp;&nbsp; 543207 |
| Canadian Utilities Ltd., Class A | 18679 | &nbsp;&nbsp; 607897 |
| Canfor Corp.<sup>(b)</sup> | 14480 | &nbsp;&nbsp; 153338 |
| Capstone Copper Corp.<sup>(b)</sup> | 39652 | &nbsp;&nbsp; 441863 |
| Cardinal Energy Ltd.<sup>(a)</sup> | 22512 | &nbsp;&nbsp; 147459 |
| Cargojet, Inc. | 2045 | &nbsp;&nbsp; 140386 |
| Cascades, Inc. | 20428 | &nbsp;&nbsp; 192943 |
| Centerra Gold, Inc. | 47571 | &nbsp;&nbsp; 801310 |
| CES Energy Solutions Corp. | 31300 | &nbsp;&nbsp; 328221 |
| Champion Iron Ltd. | 74371 | &nbsp;&nbsp; 302191 |
| Chartwell Retirement Residences | 15131 | &nbsp;&nbsp; 225934 |
| Chemtrade Logistics Income Fund | 23364 | &nbsp;&nbsp; 272607 |
| Choice Properties REIT<sup>(a)</sup> | 24778 | &nbsp;&nbsp; 278859 |
| Cogeco Communications, Inc. | 6677 | &nbsp;&nbsp; 323606 |
| Colliers International Group, Inc. | 1714 | &nbsp;&nbsp; 235503 |
| Crombie REIT | 19441 | &nbsp;&nbsp; 223963 |
| Definity Financial Corp. | 4861 | &nbsp;&nbsp; 239218 |
| Descartes Systems Group, Inc. (The)<sup>(b)</sup> | 2153 | &nbsp;&nbsp; 161680 |
| DPM Metals, Inc. | 15326 | &nbsp;&nbsp; 537709 |
| Dream Industrial REIT | 38119 | &nbsp;&nbsp; 362006 |
| DREAM Unlimited Corp. | 2843 | &nbsp;&nbsp; 41171 |
| E-L Financial Corp. Ltd. | 2233 | &nbsp;&nbsp; 28610 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Canada-(continued)** | **Canada-(continued)** | **Canada-(continued)** |
| Enerflex Ltd. | 25662 | &nbsp;&nbsp; $473576 |
| Enghouse Systems Ltd. | 7640 | &nbsp;&nbsp; 105560 |
| EQB, Inc. | 2544 | &nbsp;&nbsp; 199496 |
| Equinox Gold Corp.<sup>(a)(b)</sup> | 41057 | &nbsp;&nbsp; 590622 |
| Exchange Income Corp. | 5624 | &nbsp;&nbsp; 394550 |
| First Capital REIT<sup>(a)</sup> | 31966 | &nbsp;&nbsp; 467162 |
| First Majestic Silver Corp. | 23144 | &nbsp;&nbsp; 484535 |
| FirstService Corp. | 1682 | &nbsp;&nbsp; 262035 |
| Fortuna Mining Corp., Class C<sup>(b)</sup> | 30048 | &nbsp;&nbsp; 295565 |
| Freehold Royalties Ltd.<sup>(a)</sup> | 12916 | &nbsp;&nbsp; 156234 |
| Gibson Energy, Inc.<sup>(a)</sup> | 29916 | &nbsp;&nbsp; 592289 |
| goeasy Ltd. | 1359 | &nbsp;&nbsp; 125568 |
| Granite REIT | 8061 | &nbsp;&nbsp; 522954 |
| Hudbay Minerals, Inc. | 35374 | &nbsp;&nbsp; 842456 |
| IAMGOLD Corp.<sup>(b)</sup> | 38117 | &nbsp;&nbsp; 695544 |
| IGM Financial, Inc. | 13311 | &nbsp;&nbsp; 647389 |
| International Petroleum Corp.<sup>(b)</sup> | 10293 | &nbsp;&nbsp; 216480 |
| InterRent REIT<sup>(a)</sup> | 17718 | &nbsp;&nbsp; 174413 |
| Ivanhoe Mines Ltd., Class A<sup>(a)(b)</sup> | 14859 | &nbsp;&nbsp; 188954 |
| Kelt Exploration Ltd.<sup>(b)</sup> | 20088 | &nbsp;&nbsp; 115708 |
| Killam Apartment REIT<sup>(a)</sup> | 15823 | &nbsp;&nbsp; 204952 |
| Kinaxis, Inc.<sup>(b)</sup> | 762 | &nbsp;&nbsp; 77373 |
| Labrador Iron Ore Royalty Corp. | 6222 | &nbsp;&nbsp; 135637 |
| Lassonde Industries, Inc., Class A | 197 | &nbsp;&nbsp; 32151 |
| Laurentian Bank of Canada | 12689 | &nbsp;&nbsp; 374818 |
| Leon's Furniture Ltd. | 1553 | &nbsp;&nbsp; 31561 |
| Lightspeed Commerce, Inc.<sup>(b)</sup> | 21137 | &nbsp;&nbsp; 229453 |
| Maple Leaf Foods, Inc. | 14178 | &nbsp;&nbsp; 264159 |
| MDA Space Ltd.<sup>(b)</sup> | 5218 | &nbsp;&nbsp; 148084 |
| MTY Food Group, Inc.<sup>(a)</sup> | 3581 | &nbsp;&nbsp; 112152 |
| Mullen Group Ltd.<sup>(a)</sup> | 20879 | &nbsp;&nbsp; 247930 |
| New Gold, Inc.<sup>(b)</sup> | 29769 | &nbsp;&nbsp; 300735 |
| NFI Group, Inc.<sup>(b)</sup> | 16295 | &nbsp;&nbsp; 199032 |
| North West Co., Inc. (The) | 7910 | &nbsp;&nbsp; 283946 |
| NorthWest Healthcare Properties REIT<sup>(a)</sup> | 44846 | &nbsp;&nbsp; 185127 |
| NuVista Energy Ltd.<sup>(b)</sup> | 25385 | &nbsp;&nbsp; 349427 |
| OR Royalties, Inc. | 6196 | &nbsp;&nbsp; 245662 |
| Paramount Resources Ltd., Class A | 16532 | &nbsp;&nbsp; 313512 |
| Pason Systems, Inc. | 14392 | &nbsp;&nbsp; 128281 |
| Peyto Exploration & Development Corp.<sup>(a)</sup> | 23170 | &nbsp;&nbsp; 419888 |
| Precision Drilling Corp.<sup>(b)</sup> | 4396 | &nbsp;&nbsp; 352550 |
| Premium Brands Holdings Corp. | 7213 | &nbsp;&nbsp; 498569 |
| Primaris REIT | 13427 | &nbsp;&nbsp; 164101 |
| Richelieu Hardware Ltd. | 7561 | &nbsp;&nbsp; 227363 |
| Russel Metals, Inc. | 13205 | &nbsp;&nbsp; 470510 |
| Sagicor Financial Co. Ltd. | 2411 | &nbsp;&nbsp; 17395 |
| Secure Waste Infrastructure Corp. | 42634 | &nbsp;&nbsp; 553173 |
| Sienna Senior Living, Inc. | 8696 | &nbsp;&nbsp; 136205 |
| SmartCentres REIT<sup>(a)</sup> | 19328 | &nbsp;&nbsp; 380951 |
| Spin Master Corp.<sup>(c)</sup> | 7598 | &nbsp;&nbsp; 104419 |
| SSR Mining, Inc.<sup>(b)</sup> | 40189 | &nbsp;&nbsp; 921217 |
| Stantec, Inc. | 5542 | &nbsp;&nbsp; 552256 |
| Stella-Jones, Inc. | 8121 | &nbsp;&nbsp; 547537 |
| Superior Plus Corp. | 63183 | &nbsp;&nbsp; 340609 |
| Tamarack Valley Energy Ltd.<sup>(a)</sup> | 62466 | &nbsp;&nbsp; 424851 |
| Teekay Tankers Ltd., Class A<sup>(a)</sup> | 4155 | &nbsp;&nbsp; 268081 |
| Tilray Brands, Inc.<sup>(a)(b)</sup> | 40000 | &nbsp;&nbsp; 298400 |
| TMX Group Ltd. | 12524 | &nbsp;&nbsp; 464927 |
| Topaz Energy Corp. | 6044 | &nbsp;&nbsp; 130329 |
| Torex Gold Resources, Inc. | 9773 | &nbsp;&nbsp; 473007 |
| TransAlta Corp. | 28222 | &nbsp;&nbsp; 362635 |
| Transcontinental, Inc., Class A | 14026 | &nbsp;&nbsp; 239265 |

---

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

------

**Invesco RAFI Developed Markets ex-U.S. Small-Mid ETF (PDN)—(continued)**

January 31, 2026

*(Unaudited)*

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Canada-(continued)** | **Canada-(continued)** | **Canada-(continued)** |
| Winpak Ltd. | 4653 | &nbsp;&nbsp; $147787 |
| Xenon Pharmaceuticals, Inc.<sup>(b)</sup> | 2831 | &nbsp;&nbsp; 116099 |
|  |  | &nbsp;&nbsp; 35741400 |
| **China-1.51%** | **China-1.51%** | **China-1.51%** |
| &nbsp;&nbsp;&nbsp; Alibaba Health Information Technology <br> Ltd.<sup>(a)(b)</sup><br>| 315054 | &nbsp;&nbsp; 261382 |
| Bosideng International Holdings Ltd. | 634089 | &nbsp;&nbsp; 387101 |
| Budweiser Brewing Co. APAC Ltd.<sup>(a)(c)</sup> | 302880 | &nbsp;&nbsp; 298723 |
| CapitaLand China Trust | 137258 | &nbsp;&nbsp; 84802 |
| China Education Group Holdings Ltd.<sup>(a)(c)</sup> | 339902 | &nbsp;&nbsp; 132439 |
| &nbsp;&nbsp;&nbsp; China Gold International Resources Corp. <br> Ltd.<br>| 23494 | &nbsp;&nbsp; 595074 |
| China Medical System Holdings Ltd.<sup>(a)</sup> | 216198 | &nbsp;&nbsp; 387927 |
| China Ruyi Holdings Ltd.<sup>(b)</sup> | 381032 | &nbsp;&nbsp; 105414 |
| China Water Affairs Group Ltd.<sup>(a)</sup> | 151098 | &nbsp;&nbsp; 104330 |
| Chow Tai Fook Jewellery Group Ltd.<sup>(a)</sup> | 246522 | &nbsp;&nbsp; 453220 |
| Damai Entertainment Holdings Ltd.<sup>(b)</sup> | 1057526 | &nbsp;&nbsp; 133530 |
| FIH Mobile Ltd.<sup>(b)</sup> | 44840 | &nbsp;&nbsp; 114657 |
| Hopson Development Holdings Ltd.<sup>(b)</sup> | 137590 | &nbsp;&nbsp; 61302 |
| HUTCHMED China Ltd.<sup>(a)(b)</sup> | 37546 | &nbsp;&nbsp; 112340 |
| &nbsp;&nbsp;&nbsp; Jinchuan Group International Resources Co. <br> Ltd.<sup>(b)(d)</sup><br>| 1210507 | &nbsp;&nbsp; 79360 |
| Kingboard Laminates Holdings Ltd.<sup>(a)</sup> | 204466 | &nbsp;&nbsp; 384015 |
| Lee & Man Paper Manufacturing Ltd. | 311861 | &nbsp;&nbsp; 142600 |
| Nine Dragons Paper Holdings Ltd.<sup>(b)</sup> | 491652 | &nbsp;&nbsp; 518123 |
| Stella International Holdings Ltd.<sup>(a)</sup> | 90737 | &nbsp;&nbsp; 167800 |
| Towngas Smart Energy Co. Ltd.<sup>(b)</sup> | 195099 | &nbsp;&nbsp; 91609 |
| VSTECS Holdings Ltd. | 185355 | &nbsp;&nbsp; 183449 |
| Want Want China Holdings Ltd. | 307246 | &nbsp;&nbsp; 185359 |
| Wharf (Holdings) Ltd. (The)<sup>(a)</sup> | 55393 | &nbsp;&nbsp; 179161 |
| Xinyi Glass Holdings Ltd.<sup>(a)</sup> | 443906 | &nbsp;&nbsp; 580236 |
|  |  | &nbsp;&nbsp; 5743953 |
| **Colombia-0.07%** | **Colombia-0.07%** | **Colombia-0.07%** |
| Aris Mining Corp.<sup>(b)</sup> | 16280 | &nbsp;&nbsp; 283245 |
| **Cyprus-0.01%** | **Cyprus-0.01%** | **Cyprus-0.01%** |
| Bank of Cyprus Holdings PLC | 5170 | &nbsp;&nbsp; 57250 |
| **Denmark-1.71%** | **Denmark-1.71%** | **Denmark-1.71%** |
| ALK-Abello A/S<sup>(b)</sup> | 3841 | &nbsp;&nbsp; 127389 |
| Alm Brand A/S | 128502 | &nbsp;&nbsp; 356755 |
| Ambu A/S<sup>(a)</sup> | 6463 | &nbsp;&nbsp; 87966 |
| Ascendis Pharma A/S, ADR<sup>(b)</sup> | 996 | &nbsp;&nbsp; 225196 |
| Bavarian Nordic A/S<sup>(b)</sup> | 7024 | &nbsp;&nbsp; 214806 |
| Cementir Holding N.V.<sup>(a)</sup> | 6430 | &nbsp;&nbsp; 145103 |
| D/S Norden A/S | 8064 | &nbsp;&nbsp; 365597 |
| Demant A/S<sup>(b)</sup> | 7646 | &nbsp;&nbsp; 268623 |
| Dfds A/S<sup>(b)</sup> | 11938 | &nbsp;&nbsp; 187817 |
| FLSmidth & Co. A/S | 6104 | &nbsp;&nbsp; 525157 |
| GN Store Nord A/S<sup>(a)(b)</sup> | 23375 | &nbsp;&nbsp; 411834 |
| H. Lundbeck A/S | 55713 | &nbsp;&nbsp; 374897 |
| Jyske Bank A/S | 5430 | &nbsp;&nbsp; 793123 |
| Matas A/S<sup>(a)</sup> | 5219 | &nbsp;&nbsp; 80271 |
| Netcompany Group A/S<sup>(b)(c)</sup> | 2788 | &nbsp;&nbsp; 147690 |
| NKT A/S<sup>(b)</sup> | 3446 | &nbsp;&nbsp; 452352 |
| Per Aarsleff Holding A/S | 2088 | &nbsp;&nbsp; 298853 |
| Ringkjoebing Landbobank A/S | 774 | &nbsp;&nbsp; 195836 |
| Royal Unibrew A/S | 4523 | &nbsp;&nbsp; 427704 |
| Scandinavian Tobacco Group A/S<sup>(c)</sup> | 13011 | &nbsp;&nbsp; 203096 |
| Schouw & Co. A/S | 1383 | &nbsp;&nbsp; 146484 |
| Sydbank A/S | 4899 | &nbsp;&nbsp; 445311 |
|  |  | &nbsp;&nbsp; 6481860 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Finland-0.93%** | **Finland-0.93%** | **Finland-0.93%** |
| Citycon OYJ<sup>(b)</sup> | 17099 | &nbsp;&nbsp; $77378 |
| Hiab OYJ, Class B | 2971 | &nbsp;&nbsp; 177182 |
| Kalmar OYJ, Class B | 5369 | &nbsp;&nbsp; 275501 |
| Kemira OYJ<sup>(a)</sup> | 19731 | &nbsp;&nbsp; 465774 |
| Kojamo OYJ<sup>(a)(b)</sup> | 19403 | &nbsp;&nbsp; 220195 |
| Konecranes OYJ | 6057 | &nbsp;&nbsp; 715874 |
| Mandatum OYJ | 42510 | &nbsp;&nbsp; 347941 |
| Metsa Board OYJ<sup>(a)</sup> | 55965 | &nbsp;&nbsp; 174479 |
| Nokian Renkaat OYJ<sup>(a)</sup> | 55336 | &nbsp;&nbsp; 712501 |
| Olvi OYJ | 693 | &nbsp;&nbsp; 27616 |
| Sanoma OYJ | 3090 | &nbsp;&nbsp; 35476 |
| Terveystalo OYJ<sup>(a)(c)</sup> | 9586 | &nbsp;&nbsp; 115612 |
| Tokmanni Group Corp.<sup>(a)</sup> | 11129 | &nbsp;&nbsp; 101954 |
| Vaisala OYJ, Class A<sup>(a)</sup> | 1402 | &nbsp;&nbsp; 69986 |
|  |  | &nbsp;&nbsp; 3517469 |
| **France-3.27%** | **France-3.27%** | **France-3.27%** |
| Aeroports de Paris S.A.<sup>(a)</sup> | 2535 | &nbsp;&nbsp; 336144 |
| Air France-KLM<sup>(a)(b)</sup> | 24892 | &nbsp;&nbsp; 320476 |
| Altarea SCA<sup>(a)</sup> | 659 | &nbsp;&nbsp; 91228 |
| Alten S.A. | 5791 | &nbsp;&nbsp; 569757 |
| Beneteau SACA<sup>(a)</sup> | 9073 | &nbsp;&nbsp; 85638 |
| bioMerieux | 3208 | &nbsp;&nbsp; 373886 |
| Carmila S.A. | 8024 | &nbsp;&nbsp; 155831 |
| Cie de L'Odet SE | 33 | &nbsp;&nbsp; 51799 |
| Cie des Alpes | 4199 | &nbsp;&nbsp; 129751 |
| Coface S.A. | 17961 | &nbsp;&nbsp; 329684 |
| Criteo S.A., ADR<sup>(b)</sup> | 15312 | &nbsp;&nbsp; 293531 |
| Dassault Aviation S.A. | 1073 | &nbsp;&nbsp; 409408 |
| Derichebourg S.A. | 19026 | &nbsp;&nbsp; 179968 |
| Edenred SE | 14211 | &nbsp;&nbsp; 298741 |
| Eramet S.A.<sup>(a)</sup> | 2514 | &nbsp;&nbsp; 218664 |
| FDJ United<sup>(a)</sup> | 8944 | &nbsp;&nbsp; 237570 |
| Fnac Darty S.A. | 2568 | &nbsp;&nbsp; 108509 |
| Gaztransport Et Technigaz S.A. | 1259 | &nbsp;&nbsp; 272234 |
| Getlink SE | 17473 | &nbsp;&nbsp; 347123 |
| ICADE<sup>(a)</sup> | 14271 | &nbsp;&nbsp; 353732 |
| Imerys S.A.<sup>(a)</sup> | 9997 | &nbsp;&nbsp; 312847 |
| Ipsen S.A. | 4058 | &nbsp;&nbsp; 665342 |
| Ipsos S.A. | 6820 | &nbsp;&nbsp; 290379 |
| JCDecaux SE | 13178 | &nbsp;&nbsp; 260863 |
| Lectra<sup>(a)</sup> | 2928 | &nbsp;&nbsp; 78786 |
| LISI S.A. | 1519 | &nbsp;&nbsp; 96649 |
| Mercialys S.A. | 11295 | &nbsp;&nbsp; 142629 |
| Metropole Television S.A.<sup>(a)</sup> | 12807 | &nbsp;&nbsp; 184118 |
| Nexans S.A. | 4320 | &nbsp;&nbsp; 682923 |
| Nexity S.A.<sup>(a)(b)</sup> | 16266 | &nbsp;&nbsp; 184590 |
| OPmobility | 14925 | &nbsp;&nbsp; 286996 |
| Remy Cointreau S.A.<sup>(a)</sup> | 3754 | &nbsp;&nbsp; 179675 |
| Sartorius Stedim Biotech | 1093 | &nbsp;&nbsp; 245137 |
| Societe BIC S.A. | 4639 | &nbsp;&nbsp; 299924 |
| SOITEC<sup>(b)</sup> | 3848 | &nbsp;&nbsp; 120271 |
| Sopra Steria Group | 2568 | &nbsp;&nbsp; 470786 |
| Stef S.A. | 264 | &nbsp;&nbsp; 39324 |
| Technip Energies N.V. | 12275 | &nbsp;&nbsp; 482796 |
| Television Francaise 1 S.A.<sup>(a)</sup> | 22868 | &nbsp;&nbsp; 221829 |
| Tikehau Capital S.C.A. | 2261 | &nbsp;&nbsp; 43326 |
| Trigano S.A. | 1475 | &nbsp;&nbsp; 294547 |
| Ubisoft Entertainment S.A.<sup>(a)(b)</sup> | 44949 | &nbsp;&nbsp; 232742 |
| Vallourec SACA<sup>(a)</sup> | 21181 | &nbsp;&nbsp; 451152 |
| Verallia S.A.<sup>(a)(c)</sup> | 8557 | &nbsp;&nbsp; 224817 |
| Vicat S.A. | 3524 | &nbsp;&nbsp; 327720 |

---

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

------

**Invesco RAFI Developed Markets ex-U.S. Small-Mid ETF (PDN)—(continued)**

January 31, 2026

*(Unaudited)*

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **France-(continued)** | **France-(continued)** | **France-(continued)** |
| Virbac SACA | 354 | &nbsp;&nbsp; $148107 |
| Vivendi SE | 102062 | &nbsp;&nbsp; 285780 |
|  |  | &nbsp;&nbsp; 12417729 |
| **Georgia-0.11%** | **Georgia-0.11%** | **Georgia-0.11%** |
| Lion Finance Group PLC | 3070 | &nbsp;&nbsp; 425358 |
| **Germany-3.82%** | **Germany-3.82%** | **Germany-3.82%** |
| AIXTRON SE | 11894 | &nbsp;&nbsp; 273854 |
| Aroundtown S.A.<sup>(a)(b)</sup> | 163680 | &nbsp;&nbsp; 522019 |
| Auto1 Group SE<sup>(a)(b)(c)</sup> | 7526 | &nbsp;&nbsp; 248450 |
| Bechtle AG | 11976 | &nbsp;&nbsp; 622995 |
| Bilfinger SE | 3558 | &nbsp;&nbsp; 500316 |
| CANCOM SE | 5941 | &nbsp;&nbsp; 200619 |
| Carl Zeiss Meditec AG, BR | 5230 | &nbsp;&nbsp; 174211 |
| CECONOMY AG<sup>(b)</sup> | 47642 | &nbsp;&nbsp; 248868 |
| Cewe Stiftung & Co. KGaA | 584 | &nbsp;&nbsp; 70203 |
| CTS Eventim AG & Co. KGaA | 1159 | &nbsp;&nbsp; 97757 |
| Deutsche Pfandbriefbank AG<sup>(c)</sup> | 35637 | &nbsp;&nbsp; 176482 |
| Deutz AG | 36421 | &nbsp;&nbsp; 468089 |
| &nbsp;&nbsp;&nbsp; Draegerwerk AG & Co. KGaA, Preference <br> Shares<br>| 1704 | &nbsp;&nbsp; 180594 |
| Duerr AG | 10511 | &nbsp;&nbsp; 281171 |
| DWS Group GmbH & Co. KGaA<sup>(c)</sup> | 3994 | &nbsp;&nbsp; 293478 |
| Evotec SE<sup>(b)</sup> | 17974 | &nbsp;&nbsp; 132848 |
| Fielmann Group AG | 1874 | &nbsp;&nbsp; 92184 |
| &nbsp;&nbsp;&nbsp; Fraport AG Frankfurt Airport Services <br> Worldwide<sup>(b)</sup><br>| 3110 | &nbsp;&nbsp; 288798 |
| Gerresheimer AG<sup>(a)</sup> | 7182 | &nbsp;&nbsp; 215298 |
| Grand City Properties S.A.<sup>(b)</sup> | 11883 | &nbsp;&nbsp; 133665 |
| GRENKE AG | 6045 | &nbsp;&nbsp; 103555 |
| Hella GmbH & Co. KGaA | 921 | &nbsp;&nbsp; 89343 |
| HelloFresh SE<sup>(a)(b)</sup> | 42713 | &nbsp;&nbsp; 281574 |
| Hensoldt AG<sup>(a)</sup> | 1517 | &nbsp;&nbsp; 151250 |
| HOCHTIEF AG | 574 | &nbsp;&nbsp; 241577 |
| Hornbach Holding AG & Co. KGaA | 1659 | &nbsp;&nbsp; 159100 |
| HUGO BOSS AG | 7487 | &nbsp;&nbsp; 311565 |
| Jenoptik AG | 9372 | &nbsp;&nbsp; 296847 |
| JOST Werke SE<sup>(c)</sup> | 1162 | &nbsp;&nbsp; 86500 |
| Jungheinrich AG, Preference Shares | 9838 | &nbsp;&nbsp; 424912 |
| Kloeckner & Co. SE<sup>(a)</sup> | 18814 | &nbsp;&nbsp; 245981 |
| Krones AG | 2056 | &nbsp;&nbsp; 332052 |
| KSB SE & Co. KGaA, Preference Shares | 87 | &nbsp;&nbsp; 111069 |
| KWS Saat SE & Co. KGaA | 1378 | &nbsp;&nbsp; 122868 |
| Mutares SE & Co. KGaA<sup>(a)</sup> | 4359 | &nbsp;&nbsp; 169066 |
| Nemetschek SE | 1264 | &nbsp;&nbsp; 110842 |
| Nordex SE<sup>(b)</sup> | 7235 | &nbsp;&nbsp; 290715 |
| Rational AG | 200 | &nbsp;&nbsp; 160845 |
| SAF-Holland SE | 8311 | &nbsp;&nbsp; 167684 |
| Salzgitter AG | 15137 | &nbsp;&nbsp; 815218 |
| Sartorius AG, Preference Shares<sup>(a)</sup> | 1205 | &nbsp;&nbsp; 338011 |
| Scout24 SE<sup>(c)</sup> | 2726 | &nbsp;&nbsp; 272389 |
| Siltronic AG<sup>(a)</sup> | 5315 | &nbsp;&nbsp; 331198 |
| Sirius Real Estate Ltd. | 135945 | &nbsp;&nbsp; 183739 |
| Sixt SE | 3747 | &nbsp;&nbsp; 294686 |
| Softwareone Holding AG | 23698 | &nbsp;&nbsp; 244827 |
| Stabilus SE | 6797 | &nbsp;&nbsp; 156604 |
| STO SE & Co. KGaA, Preference Shares | 264 | &nbsp;&nbsp; 37143 |
| Stroeer SE & Co. KGaA | 2448 | &nbsp;&nbsp; 98229 |
| Suedzucker AG<sup>(a)</sup> | 17639 | &nbsp;&nbsp; 202681 |
| TAG Immobilien AG | 24885 | &nbsp;&nbsp; 423714 |
| TeamViewer SE<sup>(a)(b)(c)</sup> | 10643 | &nbsp;&nbsp; 71421 |
| TUI AG<sup>(b)</sup> | 58598 | &nbsp;&nbsp; 627040 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Germany-(continued)** | **Germany-(continued)** | **Germany-(continued)** |
| United Internet AG | 20746 | &nbsp;&nbsp; $677377 |
| Wacker Chemie AG | 6339 | &nbsp;&nbsp; 516674 |
| Wacker Neuson SE | 4763 | &nbsp;&nbsp; 109176 |
| Wuestenrot & Wuerttembergische AG | 2575 | &nbsp;&nbsp; 46001 |
|  |  | &nbsp;&nbsp; 14525372 |
| **Hong Kong-1.79%** | **Hong Kong-1.79%** | **Hong Kong-1.79%** |
| ASMPT Ltd. | 62021 | &nbsp;&nbsp; 827365 |
| Bank of East Asia Ltd. (The) | 58245 | &nbsp;&nbsp; 111288 |
| Cathay Pacific Airways Ltd. | 163673 | &nbsp;&nbsp; 256704 |
| Champion REIT<sup>(a)</sup> | 114084 | &nbsp;&nbsp; 36906 |
| CK Infrastructure Holdings Ltd. | 50941 | &nbsp;&nbsp; 418520 |
| Crystal International Group Ltd.<sup>(c)</sup> | 116203 | &nbsp;&nbsp; 109605 |
| CTF Services Ltd. | 66527 | &nbsp;&nbsp; 77956 |
| Dah Sing Financial Holdings Ltd. | 24269 | &nbsp;&nbsp; 117394 |
| DFI Retail Group Holdings Ltd. | 44617 | &nbsp;&nbsp; 183716 |
| Fortune REIT | 147249 | &nbsp;&nbsp; 95730 |
| Futu Holdings Ltd., ADR<sup>(b)</sup> | 2310 | &nbsp;&nbsp; 375537 |
| Grand Pharmaceutical Group Ltd. | 152375 | &nbsp;&nbsp; 152520 |
| Hang Lung Properties Ltd. | 448170 | &nbsp;&nbsp; 540961 |
| &nbsp;&nbsp;&nbsp; HK Electric Investments & HK Electric <br> Investments Ltd.<br>| 168510 | &nbsp;&nbsp; 144101 |
| HKBN Ltd. | 183700 | &nbsp;&nbsp; 164734 |
| Hutchison Port Holdings Trust, Class U | 312653 | &nbsp;&nbsp; 71913 |
| Hysan Development Co. Ltd. | 101721 | &nbsp;&nbsp; 279450 |
| Johnson Electric Holdings Ltd. | 95160 | &nbsp;&nbsp; 327881 |
| Luk Fook Holdings International Ltd. | 68257 | &nbsp;&nbsp; 280495 |
| Man Wah Holdings Ltd.<sup>(a)</sup> | 319591 | &nbsp;&nbsp; 198287 |
| Melco Resorts & Entertainment Ltd., ADR<sup>(b)</sup> | 32176 | &nbsp;&nbsp; 194987 |
| PAX Global Technology Ltd. | 143661 | &nbsp;&nbsp; 90689 |
| PCCW Ltd. | 493950 | &nbsp;&nbsp; 369265 |
| Power Assets Holdings Ltd.<sup>(a)</sup> | 77076 | &nbsp;&nbsp; 598043 |
| Skyworth Group Ltd.<sup>(b)</sup> | 290687 | &nbsp;&nbsp; 264774 |
| &nbsp;&nbsp;&nbsp; United Laboratories International Holdings <br> Ltd. (The)<sup>(a)</sup><br>| 130526 | &nbsp;&nbsp; 198801 |
| Vitasoy International Holdings Ltd. | 95137 | &nbsp;&nbsp; 85130 |
| VTech Holdings Ltd.<sup>(a)</sup> | 32117 | &nbsp;&nbsp; 250188 |
|  |  | &nbsp;&nbsp; 6822940 |
| **Indonesia-0.12%** | **Indonesia-0.12%** | **Indonesia-0.12%** |
| First Pacific Co. Ltd. | 249234 | &nbsp;&nbsp; 195072 |
| Nickel Industries Ltd. | 423197 | &nbsp;&nbsp; 269527 |
|  |  | &nbsp;&nbsp; 464599 |
| **Ireland-0.30%** | **Ireland-0.30%** | **Ireland-0.30%** |
| Cairn Homes PLC | 72942 | &nbsp;&nbsp; 180742 |
| Cimpress PLC<sup>(a)(b)</sup> | 4093 | &nbsp;&nbsp; 323715 |
| Glenveagh Properties PLC<sup>(b)(c)</sup> | 92415 | &nbsp;&nbsp; 215052 |
| Greencoat Renewables PLC | 78174 | &nbsp;&nbsp; 62339 |
| Greencore Group PLC | 88302 | &nbsp;&nbsp; 350214 |
|  |  | &nbsp;&nbsp; 1132062 |
| **Israel-2.78%** | **Israel-2.78%** | **Israel-2.78%** |
| Airport City Ltd.<sup>(b)</sup> | 6562 | &nbsp;&nbsp; 122437 |
| Alony Hetz Properties & Investments Ltd. | 17201 | &nbsp;&nbsp; 227651 |
| Amot Investments Ltd. | 21708 | &nbsp;&nbsp; 168604 |
| Ashtrom Group Ltd. | 5274 | &nbsp;&nbsp; 116951 |
| Azrieli Group Ltd. | 2331 | &nbsp;&nbsp; 313535 |
| &nbsp;&nbsp;&nbsp; Bezeq The Israeli Telecommunication Corp. <br> Ltd.<br>| 151132 | &nbsp;&nbsp; 389297 |
| Big Shopping Centers Ltd. | 898 | &nbsp;&nbsp; 216646 |
| Cellcom Israel Ltd. | 11414 | &nbsp;&nbsp; 135939 |
| Clal Insurance Enterprises Holdings Ltd.<sup>(a)</sup> | 5917 | &nbsp;&nbsp; 431614 |
| Cognyte Software Ltd.<sup>(b)</sup> | 11664 | &nbsp;&nbsp; 105326 |

---

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

------

**Invesco RAFI Developed Markets ex-U.S. Small-Mid ETF (PDN)—(continued)**

January 31, 2026

*(Unaudited)*

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Israel-(continued)** | **Israel-(continued)** | **Israel-(continued)** |
| Delek Automotive Systems Ltd. | 5920 | &nbsp;&nbsp; $44339 |
| Delek Group Ltd. | 1577 | &nbsp;&nbsp; 445125 |
| Elbit Systems Ltd. | 1154 | &nbsp;&nbsp; 818666 |
| Energean PLC<sup>(a)</sup> | 13924 | &nbsp;&nbsp; 162156 |
| Enlight Renewable Energy Ltd.<sup>(b)</sup> | 4368 | &nbsp;&nbsp; 247237 |
| Equital Ltd.<sup>(b)</sup> | 1124 | &nbsp;&nbsp; 52764 |
| FIBI Holdings Ltd. | 1813 | &nbsp;&nbsp; 161826 |
| First International Bank of Israel Ltd. (The) | 4642 | &nbsp;&nbsp; 395294 |
| Formula Systems 1985 Ltd.<sup>(a)</sup> | 688 | &nbsp;&nbsp; 110130 |
| G City Ltd. | 23445 | &nbsp;&nbsp; 72418 |
| &nbsp;&nbsp;&nbsp; Harel Insurance Investments & Financial <br> Services Ltd.<br>| 8755 | &nbsp;&nbsp; 402780 |
| Isracard Ltd.<sup>(a)</sup> | 34779 | &nbsp;&nbsp; 165464 |
| Israel Corp. Ltd. | 647 | &nbsp;&nbsp; 193961 |
| Kornit Digital Ltd.<sup>(b)</sup> | 6246 | &nbsp;&nbsp; 80886 |
| Melisron Ltd. | 1489 | &nbsp;&nbsp; 195669 |
| Migdal Insurance & Financial Holdings Ltd.<sup>(b)</sup> | 41849 | &nbsp;&nbsp; 225218 |
| Mivne Real Estate KD Ltd. | 51229 | &nbsp;&nbsp; 239448 |
| Mobileye Global, Inc., Class A<sup>(a)(b)</sup> | 12400 | &nbsp;&nbsp; 111352 |
| Nova Ltd.<sup>(b)</sup> | 606 | &nbsp;&nbsp; 277451 |
| Orion Retail Properties Ltd.<sup>(b)</sup> | 2835 | &nbsp;&nbsp; 2465 |
| Partner Communications Co. Ltd. | 12215 | &nbsp;&nbsp; 148871 |
| Paz Retail and Energy Ltd. | 759 | &nbsp;&nbsp; 186298 |
| Phoenix Finance Ltd. | 12974 | &nbsp;&nbsp; 631613 |
| Plus500 Ltd. | 10038 | &nbsp;&nbsp; 579450 |
| Radware Ltd.<sup>(b)</sup> | 4367 | &nbsp;&nbsp; 105463 |
| Reit 1 Ltd. | 14526 | &nbsp;&nbsp; 127909 |
| Shikun & Binui Ltd.<sup>(a)(b)</sup> | 26893 | &nbsp;&nbsp; 157262 |
| Shufersal Ltd. | 20478 | &nbsp;&nbsp; 265266 |
| Strauss Group Ltd. | 5266 | &nbsp;&nbsp; 199346 |
| Taboola.com Ltd.<sup>(b)</sup> | 35531 | &nbsp;&nbsp; 142124 |
| Tower Semiconductor Ltd.<sup>(b)</sup> | 9254 | &nbsp;&nbsp; 1225592 |
| Wix.com Ltd.<sup>(a)(b)</sup> | 1879 | &nbsp;&nbsp; 163172 |
|  |  | &nbsp;&nbsp; 10565015 |
| **Italy-2.53%** | **Italy-2.53%** | **Italy-2.53%** |
| ACEA S.p.A. | 6742 | &nbsp;&nbsp; 188597 |
| Amplifon S.p.A. | 9980 | &nbsp;&nbsp; 161488 |
| Azimut Holding S.p.A. | 12501 | &nbsp;&nbsp; 530008 |
| Banca Generali S.p.A. | 4432 | &nbsp;&nbsp; 299712 |
| Banca IFIS S.p.A.<sup>(a)</sup> | 4568 | &nbsp;&nbsp; 149293 |
| Banca Mediolanum S.p.A. | 21551 | &nbsp;&nbsp; 507382 |
| Banca Popolare di Sondrio S.p.A. | 28955 | &nbsp;&nbsp; 594173 |
| BFF Bank S.p.A.<sup>(b)(c)</sup> | 20987 | &nbsp;&nbsp; 201979 |
| Brembo N.V. | 26333 | &nbsp;&nbsp; 317918 |
| Credito Emiliano S.p.A. | 7432 | &nbsp;&nbsp; 137193 |
| Danieli & C. Officine Meccaniche S.p.A.<sup>(a)</sup> | 6991 | &nbsp;&nbsp; 518006 |
| Davide Campari-Milano N.V.<sup>(a)</sup> | 51863 | &nbsp;&nbsp; 370979 |
| De' Longhi S.p.A. | 7749 | &nbsp;&nbsp; 343805 |
| DiaSorin S.p.A. | 2189 | &nbsp;&nbsp; 188328 |
| Enav S.p.A.<sup>(c)</sup> | 32795 | &nbsp;&nbsp; 189965 |
| ERG S.p.A.<sup>(a)</sup> | 7676 | &nbsp;&nbsp; 205030 |
| Infrastrutture Wireless Italiane S.p.A.<sup>(a)(c)</sup> | 24079 | &nbsp;&nbsp; 213647 |
| Interpump Group S.p.A. | 7423 | &nbsp;&nbsp; 432208 |
| Iren S.p.A. | 126227 | &nbsp;&nbsp; 405499 |
| Italgas S.p.A. | 55726 | &nbsp;&nbsp; 671931 |
| MFE-MediaForEurope N.V., Class A | 81469 | &nbsp;&nbsp; 305008 |
| OVS S.p.A.<sup>(c)</sup> | 29615 | &nbsp;&nbsp; 168001 |
| Piaggio & C S.p.A.<sup>(a)</sup> | 52042 | &nbsp;&nbsp; 108017 |
| Pirelli & C. S.p.A.<sup>(c)</sup> | 73334 | &nbsp;&nbsp; 554224 |
| Prada S.p.A. | 36880 | &nbsp;&nbsp; 188602 |
| &nbsp;&nbsp;&nbsp; Recordati Industria Chimica e Farmaceutica <br> S.p.A.<br>| 6124 | &nbsp;&nbsp; 338653 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Italy-(continued)** | **Italy-(continued)** | **Italy-(continued)** |
| Reply S.p.A. | 1213 | &nbsp;&nbsp; $159605 |
| Saipem S.p.A.<sup>(a)</sup> | 173056 | &nbsp;&nbsp; 641460 |
| Salvatore Ferragamo S.p.A.<sup>(a)(b)</sup> | 15768 | &nbsp;&nbsp; 124667 |
| SOL S.p.A.<sup>(a)</sup> | 2031 | &nbsp;&nbsp; 109743 |
| Technogym S.p.A.<sup>(c)</sup> | 6578 | &nbsp;&nbsp; 137866 |
| Webuild S.p.A.<sup>(a)</sup> | 38149 | &nbsp;&nbsp; 158583 |
| &nbsp;&nbsp;&nbsp; Webuild S.p.A., Wts., expiring <br> 08/31/2030<sup>(b)(d)</sup><br>| 6553 | &nbsp;&nbsp; 0 |
|  |  | &nbsp;&nbsp; 9621570 |
| **Ivory Coast-0.21%** | **Ivory Coast-0.21%** | **Ivory Coast-0.21%** |
| Endeavour Mining PLC | 14363 | &nbsp;&nbsp; 788499 |
| **Japan-28.77%** | **Japan-28.77%** | **Japan-28.77%** |
| 77 Bank Ltd. (The) | 9603 | &nbsp;&nbsp; 529102 |
| ABC-MART, Inc. | 13524 | &nbsp;&nbsp; 217357 |
| ACOM Co. Ltd. | 62118 | &nbsp;&nbsp; 206154 |
| Activia Properties, Inc. | 261 | &nbsp;&nbsp; 244547 |
| ADEKA Corp.<sup>(a)</sup> | 14892 | &nbsp;&nbsp; 444090 |
| Advance Residence Investment Corp.<sup>(a)</sup> | 244 | &nbsp;&nbsp; 265670 |
| AEON Financial Service Co. Ltd. | 27679 | &nbsp;&nbsp; 303115 |
| AEON REIT Investment Corp. | 222 | &nbsp;&nbsp; 192764 |
| Aica Kogyo Co. Ltd. | 10337 | &nbsp;&nbsp; 235396 |
| Aichi Financial Group, Inc.<sup>(a)</sup> | 7092 | &nbsp;&nbsp; 252445 |
| Aichi Steel Corp. | 12474 | &nbsp;&nbsp; 249196 |
| Ain Holdings, Inc. | 6218 | &nbsp;&nbsp; 260504 |
| Aisan Industry Co. Ltd. | 9542 | &nbsp;&nbsp; 136257 |
| ALSOK Co. Ltd. | 54341 | &nbsp;&nbsp; 422340 |
| Amano Corp. | 8716 | &nbsp;&nbsp; 221925 |
| and St. HD Co. Ltd. | 7055 | &nbsp;&nbsp; 127378 |
| Anritsu Corp. | 26222 | &nbsp;&nbsp; 364535 |
| AOKI Holdings, Inc. | 7488 | &nbsp;&nbsp; 89709 |
| Aoyama Trading Co. Ltd. | 12762 | &nbsp;&nbsp; 217318 |
| Aozora Bank Ltd.<sup>(a)</sup> | 19543 | &nbsp;&nbsp; 317644 |
| Arata Corp. | 2915 | &nbsp;&nbsp; 58345 |
| Arclands Corp. | 13906 | &nbsp;&nbsp; 172746 |
| Arcs Co. Ltd. | 4760 | &nbsp;&nbsp; 107286 |
| ARE Holdings, Inc. | 16256 | &nbsp;&nbsp; 382327 |
| artience Co. Ltd. | 7770 | &nbsp;&nbsp; 186884 |
| As One Corp. | 7359 | &nbsp;&nbsp; 110898 |
| Asahi Intecc Co. Ltd. | 11398 | &nbsp;&nbsp; 190622 |
| Asics Corp. | 19552 | &nbsp;&nbsp; 472195 |
| ASKUL Corp. | 10215 | &nbsp;&nbsp; 90517 |
| Autobacs Seven Co. Ltd. | 9518 | &nbsp;&nbsp; 101720 |
| Awa Bank Ltd. (The) | 3506 | &nbsp;&nbsp; 118279 |
| Azbil Corp. | 56526 | &nbsp;&nbsp; 496302 |
| Bank of Nagoya Ltd. (The) | 7314 | &nbsp;&nbsp; 232506 |
| BayCurrent, Inc. | 2917 | &nbsp;&nbsp; 103115 |
| Belc Co. Ltd. | 1405 | &nbsp;&nbsp; 69830 |
| Bic Camera, Inc.<sup>(a)</sup> | 23994 | &nbsp;&nbsp; 267487 |
| BIPROGY, Inc. | 9425 | &nbsp;&nbsp; 314013 |
| Blue Zones Holdings Co. Ltd. | 1941 | &nbsp;&nbsp; 111739 |
| BML, Inc. | 3217 | &nbsp;&nbsp; 81676 |
| Bunka Shutter Co. Ltd. | 5486 | &nbsp;&nbsp; 71963 |
| C. Uyemura & Co. Ltd. | 1228 | &nbsp;&nbsp; 142475 |
| Calbee, Inc.<sup>(a)</sup> | 15465 | &nbsp;&nbsp; 303570 |
| Canon Marketing Japan, Inc. | 8189 | &nbsp;&nbsp; 358433 |
| Capcom Co. Ltd. | 12274 | &nbsp;&nbsp; 313865 |
| Casio Computer Co. Ltd. | 46288 | &nbsp;&nbsp; 454025 |
| CCI Group, Inc. | 26222 | &nbsp;&nbsp; 157790 |
| Chudenko Corp. | 3871 | &nbsp;&nbsp; 110771 |
| Chugin Financial Group, Inc. | 19024 | &nbsp;&nbsp; 345455 |
| Chugoku Marine Paints Ltd.<sup>(a)</sup> | 5937 | &nbsp;&nbsp; 167989 |

---

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

------

**Invesco RAFI Developed Markets ex-U.S. Small-Mid ETF (PDN)—(continued)**

January 31, 2026

*(Unaudited)*

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Japan-(continued)** | **Japan-(continued)** | **Japan-(continued)** |
| Citizen Watch Co. Ltd. | 54157 | &nbsp;&nbsp; $480202 |
| CKD Corp. | 12094 | &nbsp;&nbsp; 323643 |
| Comforia Residential REIT, Inc.<sup>(a)</sup> | 210 | &nbsp;&nbsp; 152163 |
| Cosmos Pharmaceutical Corp. | 7210 | &nbsp;&nbsp; 324028 |
| Create SD Holdings Co. Ltd. | 5355 | &nbsp;&nbsp; 112847 |
| Credit Saison Co. Ltd. | 21192 | &nbsp;&nbsp; 573998 |
| CyberAgent, Inc. | 49863 | &nbsp;&nbsp; 453828 |
| Dai-Dan Co. Ltd.<sup>(a)</sup> | 12675 | &nbsp;&nbsp; 220569 |
| Daido Steel Co. Ltd. | 32872 | &nbsp;&nbsp; 423637 |
| Daihen Corp.<sup>(a)</sup> | 3658 | &nbsp;&nbsp; 276710 |
| Daiichikosho Co. Ltd. | 14037 | &nbsp;&nbsp; 152269 |
| Daio Paper Corp.<sup>(a)</sup> | 14119 | &nbsp;&nbsp; 88889 |
| Daiseki Co. Ltd. | 5191 | &nbsp;&nbsp; 117049 |
| Daishi Hokuetsu Financial Group, Inc.<sup>(a)</sup> | 30852 | &nbsp;&nbsp; 369013 |
| Daiwa House REIT Investment Corp. | 509 | &nbsp;&nbsp; 444945 |
| Daiwa Office Investment Corp. | 74 | &nbsp;&nbsp; 176873 |
| Daiwa Securities Living Investments Corp. | 236 | &nbsp;&nbsp; 175709 |
| DCM Holdings Co. Ltd. | 14853 | &nbsp;&nbsp; 157114 |
| DeNA Co. Ltd. | 8868 | &nbsp;&nbsp; 145897 |
| Dexerials Corp. | 12162 | &nbsp;&nbsp; 214065 |
| DMG Mori Co. Ltd. | 21639 | &nbsp;&nbsp; 383128 |
| Doutor Nichires Holdings Co. Ltd. | 6762 | &nbsp;&nbsp; 123694 |
| DTS Corp. | 18548 | &nbsp;&nbsp; 151591 |
| Duskin Co. Ltd. | 5828 | &nbsp;&nbsp; 160594 |
| DyDo Group Holdings, Inc.<sup>(a)</sup> | 4846 | &nbsp;&nbsp; 77589 |
| Eagle Industry Co. Ltd.<sup>(a)</sup> | 3685 | &nbsp;&nbsp; 74048 |
| Earth Corp. | 1994 | &nbsp;&nbsp; 63227 |
| EDION Corp. | 16805 | &nbsp;&nbsp; 230779 |
| Elecom Co. Ltd. | 7631 | &nbsp;&nbsp; 81817 |
| Exedy Corp. | 8492 | &nbsp;&nbsp; 313949 |
| Ezaki Glico Co. Ltd. | 8765 | &nbsp;&nbsp; 315868 |
| FCC Co. Ltd. | 9129 | &nbsp;&nbsp; 222972 |
| Ferrotec Corp.<sup>(a)</sup> | 12401 | &nbsp;&nbsp; 475670 |
| Food & Life Cos. Ltd. | 4516 | &nbsp;&nbsp; 247509 |
| FP Corp. | 8544 | &nbsp;&nbsp; 145916 |
| Frontier Real Estate Investment Corp. | 275 | &nbsp;&nbsp; 162535 |
| Fuji Co. Ltd.<sup>(a)</sup> | 6444 | &nbsp;&nbsp; 88105 |
| Fuji Corp. | 16438 | &nbsp;&nbsp; 406293 |
| Fuji Oil Co. Ltd. | 12488 | &nbsp;&nbsp; 327965 |
| Fuji Seal International, Inc. | 6683 | &nbsp;&nbsp; 138657 |
| Fujimi, Inc. | 7676 | &nbsp;&nbsp; 136126 |
| Fukuda Denshi Co. Ltd. | 803 | &nbsp;&nbsp; 44174 |
| Fukuoka REIT Corp. | 92 | &nbsp;&nbsp; 111288 |
| Fukuyama Transporting Co. Ltd. | 3810 | &nbsp;&nbsp; 113674 |
| Furukawa Co. Ltd. | 7302 | &nbsp;&nbsp; 219393 |
| Fuyo General Lease Co. Ltd. | 9182 | &nbsp;&nbsp; 259053 |
| Glory Ltd. | 9814 | &nbsp;&nbsp; 256462 |
| GLP J-Reit | 435 | &nbsp;&nbsp; 401168 |
| GMO Internet Group, Inc. | 4881 | &nbsp;&nbsp; 122035 |
| Goldwin, Inc. | 8521 | &nbsp;&nbsp; 142669 |
| GungHo Online Entertainment, Inc.<sup>(b)</sup> | 8302 | &nbsp;&nbsp; 141558 |
| Gunma Bank Ltd. (The) | 37870 | &nbsp;&nbsp; 478318 |
| H.U. Group Holdings, Inc. | 11635 | &nbsp;&nbsp; 242452 |
| H2O Retailing Corp. | 23459 | &nbsp;&nbsp; 322286 |
| Hachijuni Nagano Bank Ltd. | 62796 | &nbsp;&nbsp; 787077 |
| Hakuhodo DY Holdings, Inc. | 40479 | &nbsp;&nbsp; 303439 |
| Hamakyorex Co. Ltd. | 7062 | &nbsp;&nbsp; 84040 |
| Hamamatsu Photonics K.K. | 48428 | &nbsp;&nbsp; 542901 |
| Happinet Corp. | 7452 | &nbsp;&nbsp; 133923 |
| Hazama Ando Corp. | 34806 | &nbsp;&nbsp; 451542 |
| Heiwa Corp. | 11497 | &nbsp;&nbsp; 151089 |
| Heiwa Real Estate REIT, Inc. | 104 | &nbsp;&nbsp; 102910 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Japan-(continued)** | **Japan-(continued)** | **Japan-(continued)** |
| Heiwado Co. Ltd. | 8996 | &nbsp;&nbsp; $171981 |
| Hikari Tsushin, Inc. | 1753 | &nbsp;&nbsp; 485715 |
| Hirogin Holdings, Inc. | 38269 | &nbsp;&nbsp; 434836 |
| Hirose Electric Co. Ltd. | 4075 | &nbsp;&nbsp; 441370 |
| Hisamitsu Pharmaceutical Co., Inc. | 9079 | &nbsp;&nbsp; 375224 |
| Hogy Medical Co. Ltd.<sup>(a)</sup> | 3302 | &nbsp;&nbsp; 143355 |
| Hokkaido Electric Power Co., Inc.<sup>(a)</sup> | 79670 | &nbsp;&nbsp; 542443 |
| Hokuetsu Corp. | 13191 | &nbsp;&nbsp; 77787 |
| Hokuhoku Financial Group, Inc. | 17954 | &nbsp;&nbsp; 619059 |
| Hokuriku Electric Power Co.<sup>(a)</sup> | 56416 | &nbsp;&nbsp; 357989 |
| Horiba Ltd.<sup>(a)</sup> | 6444 | &nbsp;&nbsp; 766772 |
| Hoshino Resorts REIT, Inc. | 64 | &nbsp;&nbsp; 106593 |
| Hoshizaki Corp.<sup>(a)</sup> | 11944 | &nbsp;&nbsp; 395011 |
| Hosiden Corp. | 11309 | &nbsp;&nbsp; 189007 |
| House Foods Group, Inc. | 9889 | &nbsp;&nbsp; 192163 |
| Hulic Reit, Inc. | 140 | &nbsp;&nbsp; 156358 |
| Hyakugo Bank Ltd. (The) | 31946 | &nbsp;&nbsp; 291467 |
| Hyakujushi Bank Ltd. (The) | 4351 | &nbsp;&nbsp; 236034 |
| IDOM, Inc. | 18286 | &nbsp;&nbsp; 180606 |
| Iino Kaiun Kaisha Ltd.<sup>(a)</sup> | 15552 | &nbsp;&nbsp; 158317 |
| Inaba Denki Sangyo Co. Ltd. | 9102 | &nbsp;&nbsp; 152097 |
| Inabata & Co. Ltd. | 6347 | &nbsp;&nbsp; 161167 |
| &nbsp;&nbsp;&nbsp; Industrial & Infrastructure Fund Investment <br> Corp.<sup>(a)</sup><br>| 248 | &nbsp;&nbsp; 240952 |
| Internet Initiative Japan, Inc. | 11229 | &nbsp;&nbsp; 182028 |
| Invincible Investment Corp. | 554 | &nbsp;&nbsp; 235390 |
| ITO EN Ltd. | 13547 | &nbsp;&nbsp; 251162 |
| Itochu Enex Co. Ltd. | 6351 | &nbsp;&nbsp; 78938 |
| Itoham Yonekyu Holdings, Inc.<sup>(a)</sup> | 6389 | &nbsp;&nbsp; 249539 |
| Iyogin Holdings, Inc. | 31877 | &nbsp;&nbsp; 595312 |
| Izumi Co. Ltd. | 9108 | &nbsp;&nbsp; 180762 |
| J. Front Retailing Co. Ltd. | 34459 | &nbsp;&nbsp; 504701 |
| Jaccs Co. Ltd. | 4632 | &nbsp;&nbsp; 127383 |
| JAFCO Group Co. Ltd. | 11211 | &nbsp;&nbsp; 177553 |
| Japan Airport Terminal Co. Ltd. | 3676 | &nbsp;&nbsp; 115481 |
| Japan Aviation Electronics Industry Ltd. | 12500 | &nbsp;&nbsp; 195924 |
| Japan Excellent, Inc.<sup>(a)</sup> | 143 | &nbsp;&nbsp; 138725 |
| Japan Hotel REIT Investment Corp. | 372 | &nbsp;&nbsp; 200653 |
| Japan Lifeline Co. Ltd. | 8390 | &nbsp;&nbsp; 84077 |
| Japan Logistics Fund, Inc.<sup>(a)</sup> | 238 | &nbsp;&nbsp; 155989 |
| Japan Petroleum Exploration Co. Ltd. | 45809 | &nbsp;&nbsp; 565815 |
| Japan Prime Realty Investment Corp. | 376 | &nbsp;&nbsp; 255820 |
| Japan Real Estate Investment Corp. | 686 | &nbsp;&nbsp; 555255 |
| Japan Steel Works Ltd. (The) | 5684 | &nbsp;&nbsp; 315644 |
| Japan Wool Textile Co. Ltd. (The) | 4970 | &nbsp;&nbsp; 60089 |
| Jeol Ltd. | 6571 | &nbsp;&nbsp; 265953 |
| Joyful Honda Co. Ltd. | 9699 | &nbsp;&nbsp; 133844 |
| Juroku Financial Group, Inc. | 5084 | &nbsp;&nbsp; 271218 |
| JVCKenwood Corp. | 33508 | &nbsp;&nbsp; 273232 |
| Kadokawa Corp. | 9883 | &nbsp;&nbsp; 209569 |
| Kaga Electronics Co. Ltd. | 6212 | &nbsp;&nbsp; 156514 |
| Kagome Co. Ltd.<sup>(a)</sup> | 13010 | &nbsp;&nbsp; 231135 |
| Kakaku.com, Inc. | 7205 | &nbsp;&nbsp; 98654 |
| Kaken Pharmaceutical Co. Ltd. | 6770 | &nbsp;&nbsp; 178516 |
| Kamigumi Co. Ltd. | 12309 | &nbsp;&nbsp; 432159 |
| Kanadevia Corp. | 35846 | &nbsp;&nbsp; 237448 |
| Kanamoto Co. Ltd. | 4692 | &nbsp;&nbsp; 113533 |
| Kandenko Co. Ltd. | 15717 | &nbsp;&nbsp; 567684 |
| Kanematsu Corp. | 35570 | &nbsp;&nbsp; 468715 |
| Kato Sangyo Co. Ltd. | 2022 | &nbsp;&nbsp; 85384 |
| KDX Realty Investment Corp. | 221 | &nbsp;&nbsp; 239861 |
| Keihan Holdings Co. Ltd. | 12680 | &nbsp;&nbsp; 282583 |

---

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

------

**Invesco RAFI Developed Markets ex-U.S. Small-Mid ETF (PDN)—(continued)**

January 31, 2026

*(Unaudited)*

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Japan-(continued)** | **Japan-(continued)** | **Japan-(continued)** |
| Keikyu Corp. | 30746 | &nbsp;&nbsp; $303161 |
| Keio Corp. | 15630 | &nbsp;&nbsp; 391097 |
| Keisei Electric Railway Co. Ltd. | 45386 | &nbsp;&nbsp; 359808 |
| Keiyo Bank Ltd. (The)<sup>(a)</sup> | 17920 | &nbsp;&nbsp; 216009 |
| Kewpie Corp. | 19842 | &nbsp;&nbsp; 558649 |
| Kinden Corp. | 18471 | &nbsp;&nbsp; 819990 |
| Kissei Pharmaceutical Co. Ltd. | 4446 | &nbsp;&nbsp; 132854 |
| Kitz Corp. | 12774 | &nbsp;&nbsp; 167261 |
| Kiyo Bank Ltd. (The) | 7144 | &nbsp;&nbsp; 175035 |
| Kobayashi Pharmaceutical Co. Ltd. | 7031 | &nbsp;&nbsp; 246694 |
| Kobe Bussan Co. Ltd.<sup>(a)</sup> | 7475 | &nbsp;&nbsp; 183277 |
| Koei Tecmo Holdings Co. Ltd. | 7933 | &nbsp;&nbsp; 88279 |
| Kohnan Shoji Co. Ltd. | 4171 | &nbsp;&nbsp; 105311 |
| Kokusai Electric Corp. | 9432 | &nbsp;&nbsp; 392851 |
| Kokuyo Co. Ltd. | 56070 | &nbsp;&nbsp; 329576 |
| Komeri Co. Ltd. | 4145 | &nbsp;&nbsp; 88736 |
| Konoike Transport Co. Ltd. | 5808 | &nbsp;&nbsp; 125411 |
| Kose Holdings Corp.<sup>(a)</sup> | 8055 | &nbsp;&nbsp; 288302 |
| Kraftia Corp. | 9754 | &nbsp;&nbsp; 510337 |
| Kumagai Gumi Co. Ltd.<sup>(a)</sup> | 34212 | &nbsp;&nbsp; 385210 |
| Kumiai Chemical Industry Co. Ltd.<sup>(a)</sup> | 23268 | &nbsp;&nbsp; 106197 |
| Kurabo Industries Ltd. | 2607 | &nbsp;&nbsp; 153651 |
| Kureha Corp. | 10147 | &nbsp;&nbsp; 289102 |
| Kusuri no Aoki Holdings Co. Ltd.<sup>(a)</sup> | 5192 | &nbsp;&nbsp; 136524 |
| KYB Corp.<sup>(a)</sup> | 7248 | &nbsp;&nbsp; 206588 |
| Kyokuto Kaihatsu Kogyo Co. Ltd.<sup>(a)</sup> | 7905 | &nbsp;&nbsp; 169404 |
| Kyoritsu Maintenance Co. Ltd. | 5369 | &nbsp;&nbsp; 97946 |
| Kyoto Financial Group, Inc. | 30837 | &nbsp;&nbsp; 747385 |
| Kyushu Financial Group, Inc. | 64926 | &nbsp;&nbsp; 488254 |
| LaSalle Logiport REIT | 181 | &nbsp;&nbsp; 184303 |
| Lasertec Corp.<sup>(a)</sup> | 1733 | &nbsp;&nbsp; 399425 |
| Life Corp.<sup>(a)</sup> | 11621 | &nbsp;&nbsp; 192420 |
| Lintec Corp. | 10352 | &nbsp;&nbsp; 320422 |
| Lion Corp. | 46137 | &nbsp;&nbsp; 496189 |
| M3, Inc. | 23499 | &nbsp;&nbsp; 290895 |
| Mabuchi Motor Co. Ltd. | 38966 | &nbsp;&nbsp; 367229 |
| Macnica Holdings, Inc.<sup>(a)</sup> | 34664 | &nbsp;&nbsp; 596261 |
| Makino Milling Machine Co. Ltd. | 3850 | &nbsp;&nbsp; 284653 |
| Maruha Nichiro Corp., Class C | 29688 | &nbsp;&nbsp; 268251 |
| Marui Group Co. Ltd. | 17073 | &nbsp;&nbsp; 335200 |
| Maruichi Steel Tube Ltd. | 25522 | &nbsp;&nbsp; 253714 |
| Maruwa Co. Ltd. | 421 | &nbsp;&nbsp; 129859 |
| Maruzen Showa Unyu Co. Ltd.<sup>(a)</sup> | 1574 | &nbsp;&nbsp; 85905 |
| Max Co. Ltd. | 4113 | &nbsp;&nbsp; 174487 |
| McDonald's Holdings Co. (Japan) Ltd.<sup>(a)</sup> | 9161 | &nbsp;&nbsp; 398541 |
| MCJ Co. Ltd. | 10101 | &nbsp;&nbsp; 103267 |
| Megmilk Snow Brand Co. Ltd. | 8670 | &nbsp;&nbsp; 189436 |
| Meidensha Corp. | 6769 | &nbsp;&nbsp; 266139 |
| Meiko Electronics Co. Ltd.<sup>(a)</sup> | 2225 | &nbsp;&nbsp; 183065 |
| MEITEC Group Holdings, Inc. | 8984 | &nbsp;&nbsp; 201613 |
| Menicon Co. Ltd.<sup>(a)</sup> | 14513 | &nbsp;&nbsp; 152687 |
| Milbon Co. Ltd. | 5478 | &nbsp;&nbsp; 90295 |
| MIRAIT ONE Corp. | 14076 | &nbsp;&nbsp; 338861 |
| &nbsp;&nbsp;&nbsp; Mitsubishi Estate Logistics REIT Investment <br> Corp.<br>| 128 | &nbsp;&nbsp; 109184 |
| Mitsubishi Logistics Corp. | 52452 | &nbsp;&nbsp; 449495 |
| Mitsubishi Pencil Co. Ltd. | 4717 | &nbsp;&nbsp; 70199 |
| Mitsuboshi Belting Ltd. | 3629 | &nbsp;&nbsp; 94846 |
| Mitsui E&S Co. Ltd. | 7857 | &nbsp;&nbsp; 350289 |
| Mitsui Fudosan Accommodations Fund, Inc. | 206 | &nbsp;&nbsp; 184764 |
| Mitsui Fudosan Logistics Park, Inc.<sup>(a)</sup> | 220 | &nbsp;&nbsp; 164732 |
| Mitsui High-Tec, Inc.<sup>(a)</sup> | 18629 | &nbsp;&nbsp; 90373 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Japan-(continued)** | **Japan-(continued)** | **Japan-(continued)** |
| Mitsui-Soko Holdings Co. Ltd. | 9893 | &nbsp;&nbsp; $232158 |
| Mitsuuroko Group Holdings Co. Ltd. | 2002 | &nbsp;&nbsp; 28252 |
| Miura Co. Ltd.<sup>(a)</sup> | 12159 | &nbsp;&nbsp; 250825 |
| Mixi, Inc. | 7208 | &nbsp;&nbsp; 127297 |
| Mizuho Leasing Co. Ltd. | 23701 | &nbsp;&nbsp; 219533 |
| Mizuno Corp. | 11087 | &nbsp;&nbsp; 230448 |
| Mochida Pharmaceutical Co. Ltd. | 1334 | &nbsp;&nbsp; 31375 |
| Modec, Inc. | 3372 | &nbsp;&nbsp; 329895 |
| MonotaRO Co. Ltd. | 8631 | &nbsp;&nbsp; 116800 |
| Mori Hills REIT Investment Corp.<sup>(a)</sup> | 158 | &nbsp;&nbsp; 148691 |
| Mori Trust REIT, Inc.<sup>(a)</sup> | 270 | &nbsp;&nbsp; 136075 |
| Morinaga & Co. Ltd. | 12971 | &nbsp;&nbsp; 227583 |
| Morinaga Milk Industry Co. Ltd. | 18155 | &nbsp;&nbsp; 470353 |
| Morita Holdings Corp. | 3657 | &nbsp;&nbsp; 66554 |
| Musashi Seimitsu Industry Co. Ltd. | 9780 | &nbsp;&nbsp; 173645 |
| Musashino Bank Ltd. (The) | 4796 | &nbsp;&nbsp; 171718 |
| Nabtesco Corp. | 26186 | &nbsp;&nbsp; 711879 |
| Nakanishi, Inc. | 8131 | &nbsp;&nbsp; 114374 |
| Nankai Electric Railway Co. Ltd. | 15363 | &nbsp;&nbsp; 285409 |
| Nanto Bank Ltd. (The) | 5464 | &nbsp;&nbsp; 236584 |
| Nextage Co. Ltd. | 9405 | &nbsp;&nbsp; 199893 |
| NHK Spring Co. Ltd. | 41029 | &nbsp;&nbsp; 748065 |
| Nichias Corp. | 9235 | &nbsp;&nbsp; 464811 |
| Nichicon Corp. | 14457 | &nbsp;&nbsp; 158726 |
| Nichiha Corp. | 3230 | &nbsp;&nbsp; 71327 |
| Nifco, Inc.<sup>(a)</sup> | 14350 | &nbsp;&nbsp; 448220 |
| Nihon Kohden Corp.<sup>(a)</sup> | 27991 | &nbsp;&nbsp; 311324 |
| Nihon M&A Center Holdings, Inc. | 28129 | &nbsp;&nbsp; 129606 |
| Nihon Parkerizing Co. Ltd. | 9661 | &nbsp;&nbsp; 92395 |
| Nikkon Holdings Co. Ltd.<sup>(a)</sup> | 15010 | &nbsp;&nbsp; 356973 |
| Nippn Corp. | 12571 | &nbsp;&nbsp; 215289 |
| Nippon Densetsu Kogyo Co. Ltd. | 4283 | &nbsp;&nbsp; 96922 |
| Nippon Gas Co. Ltd. | 12781 | &nbsp;&nbsp; 243178 |
| Nippon Kayaku Co. Ltd. | 25908 | &nbsp;&nbsp; 302070 |
| Nippon Light Metal Holdings Co. Ltd. | 12133 | &nbsp;&nbsp; 214746 |
| Nippon Prologis REIT, Inc. | 669 | &nbsp;&nbsp; 391642 |
| NIPPON REIT Investment Corp. | 213 | &nbsp;&nbsp; 132743 |
| Nippon Shinyaku Co. Ltd. | 14989 | &nbsp;&nbsp; 501953 |
| Nippon Shokubai Co. Ltd. | 39489 | &nbsp;&nbsp; 570595 |
| Nippon Soda Co. Ltd. | 7273 | &nbsp;&nbsp; 174135 |
| Nipro Corp.<sup>(a)</sup> | 25833 | &nbsp;&nbsp; 238166 |
| Nishimatsu Construction Co. Ltd. | 6702 | &nbsp;&nbsp; 250209 |
| Nishimatsuya Chain Co. Ltd.<sup>(a)</sup> | 8249 | &nbsp;&nbsp; 114479 |
| Nishi-Nippon Financial Holdings, Inc. | 20099 | &nbsp;&nbsp; 488397 |
| Nishi-Nippon Railroad Co. Ltd. | 9939 | &nbsp;&nbsp; 183633 |
| Nisshin Oillio Group Ltd. (The) | 4595 | &nbsp;&nbsp; 168311 |
| Nisshinbo Holdings, Inc. | 41713 | &nbsp;&nbsp; 388001 |
| Nitta Corp. | 1666 | &nbsp;&nbsp; 44037 |
| Nitto Boseki Co. Ltd.<sup>(a)</sup> | 3156 | &nbsp;&nbsp; 302166 |
| Nitto Kogyo Corp. | 4581 | &nbsp;&nbsp; 122951 |
| NOF Corp. | 26070 | &nbsp;&nbsp; 505161 |
| Nojima Corp. | 30646 | &nbsp;&nbsp; 214531 |
| NOK Corp. | 15945 | &nbsp;&nbsp; 311544 |
| Nomura Co. Ltd.<sup>(a)</sup> | 16534 | &nbsp;&nbsp; 146616 |
| Nomura Real Estate Holdings, Inc. | 92382 | &nbsp;&nbsp; 615891 |
| Noritake Co. Ltd. | 3253 | &nbsp;&nbsp; 129652 |
| Noritsu Koki Co. Ltd. | 10350 | &nbsp;&nbsp; 148004 |
| North Pacific Bank Ltd. | 61749 | &nbsp;&nbsp; 370090 |
| NS Solutions Corp.<sup>(a)</sup> | 6635 | &nbsp;&nbsp; 175861 |
| NSD Co. Ltd. | 5448 | &nbsp;&nbsp; 114715 |
| NTN Corp. | 199313 | &nbsp;&nbsp; 479249 |
| NTT UD REIT Investment Corp. | 151 | &nbsp;&nbsp; 139690 |

---

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

------

**Invesco RAFI Developed Markets ex-U.S. Small-Mid ETF (PDN)—(continued)**

January 31, 2026

*(Unaudited)*

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Japan-(continued)** | **Japan-(continued)** | **Japan-(continued)** |
| OBIC Co. Ltd. | 10214 | &nbsp;&nbsp; $284808 |
| Odakyu Electric Railway Co. Ltd. | 43772 | &nbsp;&nbsp; 470369 |
| Okamura Corp. | 10032 | &nbsp;&nbsp; 154471 |
| Okasan Securities Group, Inc. | 19228 | &nbsp;&nbsp; 110466 |
| OKUMA Corp. | 12450 | &nbsp;&nbsp; 309996 |
| Okumura Corp. | 5489 | &nbsp;&nbsp; 229338 |
| Open House Group Co. Ltd. | 11451 | &nbsp;&nbsp; 675981 |
| Open Up Group, Inc. | 8779 | &nbsp;&nbsp; 105878 |
| Organo Corp. | 1742 | &nbsp;&nbsp; 184537 |
| ORIX JREIT, Inc. | 574 | &nbsp;&nbsp; 385666 |
| Osaka Soda Co. Ltd. | 11740 | &nbsp;&nbsp; 171176 |
| OSG Corp.<sup>(a)</sup> | 17171 | &nbsp;&nbsp; 290901 |
| PALTAC Corp. | 3969 | &nbsp;&nbsp; 124609 |
| Paramount Bed Holdings Co. Ltd. | 7058 | &nbsp;&nbsp; 160737 |
| Park24 Co. Ltd. | 13267 | &nbsp;&nbsp; 185484 |
| Penta-Ocean Construction Co. Ltd. | 63557 | &nbsp;&nbsp; 669205 |
| Pigeon Corp. | 22933 | &nbsp;&nbsp; 239774 |
| Pilot Corp. | 4589 | &nbsp;&nbsp; 144749 |
| Pola Orbis Holdings, Inc.<sup>(a)</sup> | 20091 | &nbsp;&nbsp; 176328 |
| Prima Meat Packers Ltd. | 5408 | &nbsp;&nbsp; 96918 |
| Raito Kogyo Co. Ltd. | 7862 | &nbsp;&nbsp; 178354 |
| Rakuten Bank Ltd.<sup>(b)</sup> | 2275 | &nbsp;&nbsp; 109230 |
| Rakuten Group, Inc.<sup>(b)</sup> | 66138 | &nbsp;&nbsp; 397830 |
| Relo Group, Inc. | 8916 | &nbsp;&nbsp; 101611 |
| Resorttrust, Inc. | 13666 | &nbsp;&nbsp; 159760 |
| Ricoh Leasing Co. Ltd. | 1767 | &nbsp;&nbsp; 68697 |
| Rinnai Corp. | 17933 | &nbsp;&nbsp; 472544 |
| Rohto Pharmaceutical Co. Ltd. | 23836 | &nbsp;&nbsp; 395903 |
| Saizeriya Co. Ltd. | 3649 | &nbsp;&nbsp; 148085 |
| Sakata INX Corp. | 10031 | &nbsp;&nbsp; 154325 |
| Sakata Seed Corp. | 6003 | &nbsp;&nbsp; 158410 |
| San-A Co. Ltd. | 8483 | &nbsp;&nbsp; 162241 |
| San-Ai Obbli Co. Ltd. | 4945 | &nbsp;&nbsp; 70503 |
| Sangetsu Corp.<sup>(a)</sup> | 7526 | &nbsp;&nbsp; 154138 |
| San-In Godo Bank Ltd. (The) | 19246 | &nbsp;&nbsp; 197512 |
| Sanken Electric Co. Ltd.<sup>(b)</sup> | 4490 | &nbsp;&nbsp; 212326 |
| Sanki Engineering Co. Ltd. | 7560 | &nbsp;&nbsp; 326743 |
| Sankyo Co. Ltd. | 21291 | &nbsp;&nbsp; 334125 |
| Sanyo Denki Co. Ltd.<sup>(a)</sup> | 4483 | &nbsp;&nbsp; 120928 |
| Sapporo Holdings Ltd.<sup>(a)</sup> | 31405 | &nbsp;&nbsp; 336367 |
| Sawai Group Holdings Co. Ltd. | 20932 | &nbsp;&nbsp; 322111 |
| Sega Sammy Holdings, Inc. | 27922 | &nbsp;&nbsp; 439374 |
| Seibu Holdings, Inc. | 12280 | &nbsp;&nbsp; 326428 |
| Seiko Group Corp. | 5112 | &nbsp;&nbsp; 256197 |
| Seiren Co. Ltd. | 6474 | &nbsp;&nbsp; 132918 |
| Sekisui House Reit, Inc. | 482 | &nbsp;&nbsp; 283959 |
| Senko Group Holdings Co. Ltd. | 25059 | &nbsp;&nbsp; 313156 |
| Senshu Ikeda Holdings, Inc. | 41567 | &nbsp;&nbsp; 220756 |
| Seria Co. Ltd. | 10143 | &nbsp;&nbsp; 241786 |
| Seven Bank Ltd. | 102826 | &nbsp;&nbsp; 198574 |
| Shibuya Corp.<sup>(a)</sup> | 1866 | &nbsp;&nbsp; 42631 |
| Shiga Bank Ltd. (The) | 5728 | &nbsp;&nbsp; 293897 |
| Shikoku Electric Power Co., Inc.<sup>(a)</sup> | 35996 | &nbsp;&nbsp; 365552 |
| Shinmaywa Industries Ltd. | 12914 | &nbsp;&nbsp; 183066 |
| Ship Healthcare Holdings, Inc. | 13990 | &nbsp;&nbsp; 231357 |
| SHO-BOND Holdings Co. Ltd. | 21048 | &nbsp;&nbsp; 189555 |
| SKY Perfect JSAT Holdings, Inc. | 19309 | &nbsp;&nbsp; 280014 |
| Skylark Holdings Co. Ltd.<sup>(a)</sup> | 16991 | &nbsp;&nbsp; 347336 |
| Socionext, Inc. | 30502 | &nbsp;&nbsp; 409478 |
| Sotetsu Holdings, Inc. | 12480 | &nbsp;&nbsp; 226293 |
| Square Enix Holdings Co. Ltd. | 25725 | &nbsp;&nbsp; 446007 |
| Starts Corp., Inc. | 3902 | &nbsp;&nbsp; 124192 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Japan-(continued)** | **Japan-(continued)** | **Japan-(continued)** |
| Sugi Holdings Co. Ltd. | 18867 | &nbsp;&nbsp; $435049 |
| Sumitomo Bakelite Co. Ltd. | 13470 | &nbsp;&nbsp; 475950 |
| Sumitomo Densetsu Co. Ltd. | 2348 | &nbsp;&nbsp; 147839 |
| Sumitomo Osaka Cement Co. Ltd. | 10221 | &nbsp;&nbsp; 276378 |
| Sumitomo Pharma Co. Ltd.<sup>(a)(b)</sup> | 51739 | &nbsp;&nbsp; 772425 |
| Sumitomo Warehouse Co. Ltd. (The) | 6391 | &nbsp;&nbsp; 153804 |
| Sundrug Co. Ltd. | 15184 | &nbsp;&nbsp; 405631 |
| Suruga Bank Ltd. | 17714 | &nbsp;&nbsp; 223208 |
| SWCC Corp. | 3098 | &nbsp;&nbsp; 231646 |
| T Hasegawa Co. Ltd. | 3501 | &nbsp;&nbsp; 64614 |
| Tadano Ltd. | 18421 | &nbsp;&nbsp; 136581 |
| Taihei Dengyo Kaisha Ltd. | 6353 | &nbsp;&nbsp; 92073 |
| Taikisha Ltd.<sup>(a)</sup> | 9269 | &nbsp;&nbsp; 207732 |
| Taiyo Holdings Co. Ltd. | 6988 | &nbsp;&nbsp; 226913 |
| Takara Holdings, Inc.<sup>(a)</sup> | 27190 | &nbsp;&nbsp; 281736 |
| Takara Standard Co. Ltd. | 4947 | &nbsp;&nbsp; 94767 |
| Takasago International Corp. | 10867 | &nbsp;&nbsp; 106459 |
| Takasago Thermal Engineering Co. Ltd. | 10928 | &nbsp;&nbsp; 316961 |
| Takeuchi Manufacturing Co. Ltd.<sup>(a)</sup> | 5459 | &nbsp;&nbsp; 226757 |
| Takuma Co. Ltd. | 11743 | &nbsp;&nbsp; 190445 |
| Tamron Co. Ltd. | 15338 | &nbsp;&nbsp; 102716 |
| TBS Holdings, Inc. | 13656 | &nbsp;&nbsp; 531200 |
| THK Co. Ltd. | 20157 | &nbsp;&nbsp; 604189 |
| TKC Corp. | 3801 | &nbsp;&nbsp; 100264 |
| Toa Corp. | 11711 | &nbsp;&nbsp; 238929 |
| Toagosei Co. Ltd. | 14206 | &nbsp;&nbsp; 161996 |
| Tocalo Co. Ltd. | 6949 | &nbsp;&nbsp; 116632 |
| Toda Corp. | 32095 | &nbsp;&nbsp; 281056 |
| Toei Co. Ltd. | 3032 | &nbsp;&nbsp; 110729 |
| Toho Co. Ltd. | 6635 | &nbsp;&nbsp; 339348 |
| Toho Holdings Co. Ltd.<sup>(a)</sup> | 10824 | &nbsp;&nbsp; 324645 |
| Tokai Carbon Co. Ltd. | 62078 | &nbsp;&nbsp; 430933 |
| TOKAI Holdings Corp. | 13445 | &nbsp;&nbsp; 100216 |
| Tokai Rika Co. Ltd. | 8296 | &nbsp;&nbsp; 168693 |
| Tokai Tokyo Financial Holdings, Inc. | 38033 | &nbsp;&nbsp; 182809 |
| Token Corp. | 1316 | &nbsp;&nbsp; 126874 |
| Tokuyama Corp. | 22435 | &nbsp;&nbsp; 588448 |
| Tokyo Century Corp. | 28984 | &nbsp;&nbsp; 405075 |
| Tokyo Kiraboshi Financial Group, Inc. | 4214 | &nbsp;&nbsp; 276022 |
| Tokyo Metro Co. Ltd.<sup>(a)</sup> | 14348 | &nbsp;&nbsp; 153704 |
| Tokyo Ohka Kogyo Co. Ltd. | 10804 | &nbsp;&nbsp; 511619 |
| Tokyo Seimitsu Co. Ltd. | 5121 | &nbsp;&nbsp; 465470 |
| Tokyo Steel Manufacturing Co. Ltd. | 23452 | &nbsp;&nbsp; 229721 |
| Tokyu REIT, Inc.<sup>(a)</sup> | 98 | &nbsp;&nbsp; 131796 |
| TOMONY Holdings, Inc. | 32339 | &nbsp;&nbsp; 183616 |
| Tomy Co. Ltd. | 9973 | &nbsp;&nbsp; 176679 |
| Topre Corp. | 4061 | &nbsp;&nbsp; 66370 |
| Toshiba TEC Corp. | 6278 | &nbsp;&nbsp; 105919 |
| Totetsu Kogyo Co. Ltd. | 3395 | &nbsp;&nbsp; 102553 |
| Towa Pharmaceutical Co. Ltd. | 5812 | &nbsp;&nbsp; 135804 |
| Transcosmos, Inc. | 3722 | &nbsp;&nbsp; 91064 |
| Trusco Nakayama Corp. | 6916 | &nbsp;&nbsp; 109658 |
| TS Tech Co. Ltd. | 13775 | &nbsp;&nbsp; 169776 |
| TSI Holdings Co. Ltd.<sup>(a)</sup> | 15678 | &nbsp;&nbsp; 107287 |
| Tsubakimoto Chain Co. | 12198 | &nbsp;&nbsp; 187722 |
| Tsumura & Co.<sup>(a)</sup> | 12274 | &nbsp;&nbsp; 325513 |
| TV Asahi Holdings Corp. | 11508 | &nbsp;&nbsp; 267009 |
| Tv Tokyo Holdings Corp. | 3228 | &nbsp;&nbsp; 95788 |
| UACJ Corp. | 31788 | &nbsp;&nbsp; 504756 |
| Ulvac, Inc. | 10645 | &nbsp;&nbsp; 573406 |
| United Super Markets Holdings, Inc. | 20805 | &nbsp;&nbsp; 125805 |
| United Urban Investment Corp. | 328 | &nbsp;&nbsp; 380179 |

---

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

------

**Invesco RAFI Developed Markets ex-U.S. Small-Mid ETF (PDN)—(continued)**

January 31, 2026

*(Unaudited)*

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Japan-(continued)** | **Japan-(continued)** | **Japan-(continued)** |
| Ushio, Inc. | 16827 | &nbsp;&nbsp; $303473 |
| USS Co. Ltd. | 28250 | &nbsp;&nbsp; 313156 |
| Valor Holdings Co. Ltd., Class C | 4940 | &nbsp;&nbsp; 112207 |
| Wacoal Holdings Corp. | 7062 | &nbsp;&nbsp; 199764 |
| Wacom Co. Ltd. | 23421 | &nbsp;&nbsp; 113867 |
| YAMABIKO Corp. | 5408 | &nbsp;&nbsp; 112948 |
| Yamaguchi Financial Group, Inc. | 26201 | &nbsp;&nbsp; 418707 |
| Yamato Kogyo Co. Ltd. | 5525 | &nbsp;&nbsp; 399600 |
| Yamazen Corp. | 8498 | &nbsp;&nbsp; 78634 |
| Yellow Hat Ltd. | 10669 | &nbsp;&nbsp; 116859 |
| Yodoko Ltd. | 17873 | &nbsp;&nbsp; 162451 |
| Yokogawa Bridge Holdings Corp. | 5972 | &nbsp;&nbsp; 120588 |
| Yoshinoya Holdings Co. Ltd.<sup>(a)</sup> | 7329 | &nbsp;&nbsp; 145215 |
| Yuasa Trading Co. Ltd. | 1659 | &nbsp;&nbsp; 61000 |
| Yurtec Corp. | 7309 | &nbsp;&nbsp; 128924 |
| Zenkoku Hosho Co. Ltd. | 11363 | &nbsp;&nbsp; 226647 |
| Zensho Holdings Co. Ltd. | 4706 | &nbsp;&nbsp; 255877 |
| Zeon Corp. | 36152 | &nbsp;&nbsp; 443204 |
| ZOZO, Inc. | 17021 | &nbsp;&nbsp; 141040 |
|  |  | &nbsp;&nbsp; 109347835 |
| **Luxembourg-0.11%** | **Luxembourg-0.11%** | **Luxembourg-0.11%** |
| RTL Group S.A.<sup>(a)</sup> | 9665 | &nbsp;&nbsp; 422921 |
| **Macau-0.09%** | **Macau-0.09%** | **Macau-0.09%** |
| Sands China Ltd. | 116649 | &nbsp;&nbsp; 253239 |
| SJM Holdings Ltd.<sup>(a)(b)</sup> | 312593 | &nbsp;&nbsp; 95966 |
|  |  | &nbsp;&nbsp; 349205 |
| **Mexico-0.18%** | **Mexico-0.18%** | **Mexico-0.18%** |
| Fresnillo PLC | 13521 | &nbsp;&nbsp; 667761 |
| **Netherlands-1.21%** | **Netherlands-1.21%** | **Netherlands-1.21%** |
| Arcadis N.V. | 6668 | &nbsp;&nbsp; 300547 |
| Basic-Fit N.V.<sup>(b)(c)</sup> | 4031 | &nbsp;&nbsp; 154224 |
| BE Semiconductor Industries N.V. | 2573 | &nbsp;&nbsp; 502635 |
| Corbion N.V. | 11103 | &nbsp;&nbsp; 267654 |
| CTP N.V.<sup>(c)</sup> | 10125 | &nbsp;&nbsp; 221533 |
| Eurocommercial Properties N.V. | 5606 | &nbsp;&nbsp; 165973 |
| Euronext N.V.<sup>(c)</sup> | 3453 | &nbsp;&nbsp; 485360 |
| Flow Traders Ltd.<sup>(a)(b)</sup> | 6398 | &nbsp;&nbsp; 208898 |
| Fugro N.V.<sup>(a)</sup> | 21893 | &nbsp;&nbsp; 303629 |
| Koninklijke BAM Groep N.V. | 44970 | &nbsp;&nbsp; 473344 |
| Koninklijke Heijmans N.V, CVA | 2801 | &nbsp;&nbsp; 229055 |
| Koninklijke Vopak N.V. | 7377 | &nbsp;&nbsp; 369514 |
| OCI N.V.<sup>(b)</sup> | 51646 | &nbsp;&nbsp; 207204 |
| Redcare Pharmacy N.V.<sup>(a)(b)(c)</sup> | 1092 | &nbsp;&nbsp; 80988 |
| TKH Group N.V., CVA | 8430 | &nbsp;&nbsp; 371289 |
| Van Lanschot Kempen N.V., CVA | 4234 | &nbsp;&nbsp; 257678 |
|  |  | &nbsp;&nbsp; 4599525 |
| **New Zealand-0.67%** | **New Zealand-0.67%** | **New Zealand-0.67%** |
| a2 Milk Co. Ltd. (The)<sup>(a)</sup> | 43511 | &nbsp;&nbsp; 259753 |
| Air New Zealand Ltd. | 91488 | &nbsp;&nbsp; 32085 |
| Auckland International Airport Ltd. | 91770 | &nbsp;&nbsp; 459379 |
| Chorus Ltd. | 33682 | &nbsp;&nbsp; 193479 |
| Contact Energy Ltd. | 51783 | &nbsp;&nbsp; 293174 |
| Fisher & Paykel Healthcare Corp. Ltd. | 22433 | &nbsp;&nbsp; 526459 |
| Genesis Energy Ltd. | 18971 | &nbsp;&nbsp; 27891 |
| Kiwi Property Group Ltd. | 62582 | &nbsp;&nbsp; 38170 |
| Mercury NZ Ltd. | 45165 | &nbsp;&nbsp; 173092 |
| Meridian Energy Ltd. | 62554 | &nbsp;&nbsp; 213177 |
| Precinct Properties Group | 64370 | &nbsp;&nbsp; 45392 |
| Ryman Healthcare Ltd.<sup>(b)</sup> | 53746 | &nbsp;&nbsp; 90488 |
| SKYCITY Entertainment Group Ltd.<sup>(b)</sup> | 57826 | &nbsp;&nbsp; 32380 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **New Zealand-(continued)** | **New Zealand-(continued)** | **New Zealand-(continued)** |
| Vector Ltd. | 6746 | &nbsp;&nbsp; $19677 |
| Xero Ltd.<sup>(b)</sup> | 2015 | &nbsp;&nbsp; 132112 |
|  |  | &nbsp;&nbsp; 2536708 |
| **Nigeria-0.18%** | **Nigeria-0.18%** | **Nigeria-0.18%** |
| Airtel Africa PLC<sup>(c)</sup> | 156045 | &nbsp;&nbsp; 682301 |
| **Norway-2.20%** | **Norway-2.20%** | **Norway-2.20%** |
| Aker Solutions ASA, Class A | 62358 | &nbsp;&nbsp; 228606 |
| Austevoll Seafood ASA | 13980 | &nbsp;&nbsp; 134831 |
| BlueNord ASA<sup>(b)</sup> | 1929 | &nbsp;&nbsp; 90459 |
| Bonheur ASA | 1160 | &nbsp;&nbsp; 30465 |
| Borregaard ASA | 7815 | &nbsp;&nbsp; 157788 |
| DNO ASA | 223319 | &nbsp;&nbsp; 380565 |
| DOF Group ASA | 12557 | &nbsp;&nbsp; 147450 |
| Elkem ASA<sup>(b)(c)</sup> | 111583 | &nbsp;&nbsp; 332560 |
| Entra ASA<sup>(c)</sup> | 8225 | &nbsp;&nbsp; 96644 |
| Europris ASA<sup>(c)</sup> | 19086 | &nbsp;&nbsp; 175916 |
| Frontline PLC | 19140 | &nbsp;&nbsp; 547021 |
| Gjensidige Forsikring ASA | 14996 | &nbsp;&nbsp; 428223 |
| Hoegh Autoliners ASA | 26899 | &nbsp;&nbsp; 300715 |
| Kongsberg Gruppen ASA | 11171 | &nbsp;&nbsp; 384993 |
| Leroy Seafood Group ASA | 55348 | &nbsp;&nbsp; 273640 |
| MPC Container Ships ASA | 137390 | &nbsp;&nbsp; 267137 |
| Norconsult Norge AS | 23415 | &nbsp;&nbsp; 110781 |
| Nordic Semiconductor ASA<sup>(b)</sup> | 12905 | &nbsp;&nbsp; 173875 |
| Odfjell Drilling Ltd. | 16869 | &nbsp;&nbsp; 168455 |
| Opera Ltd., ADR<sup>(a)</sup> | 8846 | &nbsp;&nbsp; 109867 |
| SalMar ASA | 5518 | &nbsp;&nbsp; 329787 |
| SFL Corp. Ltd.<sup>(a)</sup> | 27024 | &nbsp;&nbsp; 239433 |
| SpareBank 1 Nord Norge | 9282 | &nbsp;&nbsp; 141967 |
| SpareBank 1 Oestlandet | 3485 | &nbsp;&nbsp; 71072 |
| SpareBank 1 SMN | 12178 | &nbsp;&nbsp; 245487 |
| SpareBank 1 Sør-Norge ASA, Class B | 20856 | &nbsp;&nbsp; 421819 |
| Sparebanken Norge | 9960 | &nbsp;&nbsp; 199076 |
| Stolt-Nielsen Ltd.<sup>(a)</sup> | 5944 | &nbsp;&nbsp; 187070 |
| Storebrand ASA | 34261 | &nbsp;&nbsp; 601527 |
| TGS ASA | 35846 | &nbsp;&nbsp; 379067 |
| TOMRA Systems ASA | 15216 | &nbsp;&nbsp; 202520 |
| Var Energi ASA | 145199 | &nbsp;&nbsp; 532650 |
| Veidekke ASA | 6905 | &nbsp;&nbsp; 127666 |
| Wilh Wilhelmsen Holding ASA, Class A | 1816 | &nbsp;&nbsp; 129718 |
|  |  | &nbsp;&nbsp; 8348850 |
| **Philippines-0.00%** | **Philippines-0.00%** | **Philippines-0.00%** |
| Maynilad Water Services, Inc.<sup>(b)</sup> | 1158 | &nbsp;&nbsp; 356 |
| **Poland-0.97%** | **Poland-0.97%** | **Poland-0.97%** |
| Alior Bank S.A. | 8017 | &nbsp;&nbsp; 262904 |
| Allegro.eu S.A.<sup>(a)(b)(c)</sup> | 25419 | &nbsp;&nbsp; 209797 |
| Asseco Poland S.A. | 5813 | &nbsp;&nbsp; 355655 |
| Bank Handlowy w Warszawie S.A. | 2308 | &nbsp;&nbsp; 75305 |
| Bank Millennium S.A.<sup>(b)</sup> | 38099 | &nbsp;&nbsp; 185172 |
| Budimex S.A.<sup>(a)</sup> | 760 | &nbsp;&nbsp; 147610 |
| CD Projekt S.A.<sup>(a)</sup> | 1746 | &nbsp;&nbsp; 128052 |
| Cyfrowy Polsat S.A.<sup>(a)(b)</sup> | 36984 | &nbsp;&nbsp; 139709 |
| Dino Polska S.A.<sup>(a)(b)(c)</sup> | 18154 | &nbsp;&nbsp; 192966 |
| Enea S.A. | 21296 | &nbsp;&nbsp; 132127 |
| Eurocash S.A.<sup>(b)</sup> | 12973 | &nbsp;&nbsp; 24938 |
| Grupa Azoty S.A.<sup>(a)(b)</sup> | 8176 | &nbsp;&nbsp; 41032 |
| Grupa Kety S.A. | 708 | &nbsp;&nbsp; 204132 |
| Jastrzebska Spolka Weglowa S.A.<sup>(b)</sup> | 18244 | &nbsp;&nbsp; 152372 |
| KRUK S.A.<sup>(a)</sup> | 1528 | &nbsp;&nbsp; 211087 |
| LPP S.A.<sup>(a)</sup> | 66 | &nbsp;&nbsp; 366203 |

---

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

------

**Invesco RAFI Developed Markets ex-U.S. Small-Mid ETF (PDN)—(continued)**

January 31, 2026

*(Unaudited)*

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Poland-(continued)** | **Poland-(continued)** | **Poland-(continued)** |
| mBank S.A.<sup>(b)</sup> | 682 | &nbsp;&nbsp; $199877 |
| Orange Polska S.A.<sup>(a)</sup> | 52757 | &nbsp;&nbsp; 171378 |
| Santander Bank Polska S.A. | 3058 | &nbsp;&nbsp; 482011 |
|  |  | &nbsp;&nbsp; 3682327 |
| **Portugal-0.49%** | **Portugal-0.49%** | **Portugal-0.49%** |
| Banco Comercial Portugues S.A., Class R | 655310 | &nbsp;&nbsp; 711883 |
| Navigator Co. S.A. (The)<sup>(a)</sup> | 46334 | &nbsp;&nbsp; 176022 |
| NOS SGPS S.A. | 45768 | &nbsp;&nbsp; 238787 |
| &nbsp;&nbsp;&nbsp; REN - Redes Energeticas Nacionais SGPS <br> S.A.<br>| 75354 | &nbsp;&nbsp; 308208 |
| Sonae SGPS S.A. | 195265 | &nbsp;&nbsp; 411259 |
|  |  | &nbsp;&nbsp; 1846159 |
| **Singapore-2.62%** | **Singapore-2.62%** | **Singapore-2.62%** |
| BW LPG Ltd.<sup>(c)</sup> | 25064 | &nbsp;&nbsp; 398079 |
| CapitaLand Ascott Trust | 328861 | &nbsp;&nbsp; 254435 |
| CapitaLand India Trust | 134972 | &nbsp;&nbsp; 132018 |
| CapitaLand Integrated Commercial Trust | 404 | &nbsp;&nbsp; 760 |
| CapitaLand Investment Ltd.<sup>(a)</sup> | 222512 | &nbsp;&nbsp; 540046 |
| CDL Hospitality Trusts | 91625 | &nbsp;&nbsp; 62548 |
| City Developments Ltd. | 88507 | &nbsp;&nbsp; 646489 |
| ESR-REIT | 63633 | &nbsp;&nbsp; 136967 |
| Frasers Centrepoint Trust | 104310 | &nbsp;&nbsp; 184116 |
| Frasers Logistics & Commercial Trust<sup>(c)</sup> | 515254 | &nbsp;&nbsp; 410546 |
| Genting Singapore Ltd. | 768749 | &nbsp;&nbsp; 444920 |
| Grab Holdings Ltd., Class A<sup>(a)(b)</sup> | 105702 | &nbsp;&nbsp; 454519 |
| Hafnia Ltd. | 57380 | &nbsp;&nbsp; 352883 |
| IGG, Inc. | 152919 | &nbsp;&nbsp; 72149 |
| Jardine Cycle & Carriage Ltd. | 8923 | &nbsp;&nbsp; 223103 |
| Kenon Holdings Ltd. | 2675 | &nbsp;&nbsp; 191336 |
| Keppel DC REIT | 99781 | &nbsp;&nbsp; 179235 |
| Keppel Infrastructure Trust | 353450 | &nbsp;&nbsp; 144657 |
| Keppel REIT | 282819 | &nbsp;&nbsp; 219825 |
| Kulicke & Soffa Industries, Inc. | 12423 | &nbsp;&nbsp; 712211 |
| Lendlease Global Commercial REIT | 247522 | &nbsp;&nbsp; 124513 |
| Mapletree Industrial Trust<sup>(a)</sup> | 219527 | &nbsp;&nbsp; 364807 |
| Mapletree Logistics Trust | 425205 | &nbsp;&nbsp; 453498 |
| Mapletree Pan Asia Commercial Trust | 382842 | &nbsp;&nbsp; 440136 |
| NetLink NBN Trust<sup>(c)</sup> | 264909 | &nbsp;&nbsp; 204293 |
| SATS Ltd. | 73796 | &nbsp;&nbsp; 220386 |
| Seatrium Ltd.<sup>(a)</sup> | 158020 | &nbsp;&nbsp; 262700 |
| Sembcorp Industries Ltd.<sup>(a)</sup> | 71993 | &nbsp;&nbsp; 341971 |
| Sheng Siong Group Ltd. | 63431 | &nbsp;&nbsp; 136003 |
| Singapore Exchange Ltd. | 42403 | &nbsp;&nbsp; 588976 |
| Singapore Post Ltd.<sup>(a)</sup> | 435405 | &nbsp;&nbsp; 135522 |
| Singapore Technologies Engineering Ltd. | 87305 | &nbsp;&nbsp; 672804 |
| Suntec REIT | 240270 | &nbsp;&nbsp; 272076 |
|  |  | &nbsp;&nbsp; 9978527 |
| **South Africa-0.04%** | **South Africa-0.04%** | **South Africa-0.04%** |
| Scatec ASA<sup>(b)(c)</sup> | 13538 | &nbsp;&nbsp; 162261 |
| **South Korea-7.98%** | **South Korea-7.98%** | **South Korea-7.98%** |
| Amorepacific Corp. | 5233 | &nbsp;&nbsp; 503709 |
| AMOREPACIFIC Holdings Corp. | 8707 | &nbsp;&nbsp; 173082 |
| Asiana Airlines, Inc.<sup>(b)</sup> | 6955 | &nbsp;&nbsp; 36800 |
| BGF retail Co. Ltd. | 2262 | &nbsp;&nbsp; 190495 |
| BH Co. Ltd.<sup>(a)(b)</sup> | 9221 | &nbsp;&nbsp; 116654 |
| Binggrae Co. Ltd. | 1669 | &nbsp;&nbsp; 86505 |
| Cheil Worldwide, Inc. | 14294 | &nbsp;&nbsp; 217701 |
| Chong Kun Dang Pharmaceutical Corp.<sup>(a)(b)</sup> | 1728 | &nbsp;&nbsp; 102437 |
| CJ ENM Co. Ltd.<sup>(b)</sup> | 3991 | &nbsp;&nbsp; 206756 |
| CJ Logistics Corp. | 3379 | &nbsp;&nbsp; 243086 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **South Korea-(continued)** | **South Korea-(continued)** | **South Korea-(continued)** |
| Com2uSCorp.<sup>(a)(b)</sup> | 2758 | &nbsp;&nbsp; $70446 |
| &nbsp;&nbsp;&nbsp; Coway Co. Ltd., (Acquired 03/18/2022 - <br> 12/19/2025; Cost $345,216)<sup>(b)(e)</sup><br>| 7608 | &nbsp;&nbsp; 440200 |
| Daeduck Electronics Co. Ltd. | 7389 | &nbsp;&nbsp; 321082 |
| Daesang Corp. | 6931 | &nbsp;&nbsp; 104331 |
| &nbsp;&nbsp;&nbsp; Daewoo Engineering & Construction Co. <br> Ltd.<sup>(a)(b)</sup><br>| 64888 | &nbsp;&nbsp; 222861 |
| Daishin Securities Co. Ltd. | 10306 | &nbsp;&nbsp; 223611 |
| Daou Technology, Inc. | 4541 | &nbsp;&nbsp; 167118 |
| DB HiTek Co. Ltd. | 6142 | &nbsp;&nbsp; 448126 |
| Delivery Hero SE<sup>(b)(c)</sup> | 10334 | &nbsp;&nbsp; 289253 |
| DL Holdings Co. Ltd.<sup>(b)</sup> | 4315 | &nbsp;&nbsp; 123677 |
| Dongjin Semichem Co. Ltd. | 5628 | &nbsp;&nbsp; 216618 |
| Dongwon Industries Co. Ltd. | 2359 | &nbsp;&nbsp; 67911 |
| Doosan Bobcat, Inc.<sup>(b)</sup> | 14475 | &nbsp;&nbsp; 589306 |
| Doosan Co. Ltd. | 1087 | &nbsp;&nbsp; 637043 |
| DoubleDown Interactive Co. Ltd., ADR<sup>(b)</sup> | 2031 | &nbsp;&nbsp; 17182 |
| Ecopro BM Co. Ltd.<sup>(b)</sup> | 1485 | &nbsp;&nbsp; 237875 |
| Ecopro Co. Ltd. | 4738 | &nbsp;&nbsp; 531525 |
| F&F Co. Ltd.<sup>(b)</sup> | 2334 | &nbsp;&nbsp; 117978 |
| Gravity Co. Ltd., ADR<sup>(b)</sup> | 827 | &nbsp;&nbsp; 57510 |
| Green Cross Corp.<sup>(b)</sup> | 1112 | &nbsp;&nbsp; 127006 |
| Green Cross Holdings Corp.<sup>(b)</sup> | 4051 | &nbsp;&nbsp; 43861 |
| GS Retail Co. Ltd. | 9969 | &nbsp;&nbsp; 153207 |
| Hanmi Pharm Co. Ltd.<sup>(b)</sup> | 477 | &nbsp;&nbsp; 160602 |
| Hanon Systems<sup>(a)(b)</sup> | 67966 | &nbsp;&nbsp; 154474 |
| Hansol Chemical Co. Ltd. | 1202 | &nbsp;&nbsp; 234033 |
| Hanwha Aerospace Co. Ltd.<sup>(b)</sup> | 784 | &nbsp;&nbsp; 705742 |
| Hanwha Life Insurance Co. Ltd.<sup>(b)</sup> | 74370 | &nbsp;&nbsp; 179808 |
| Hanwha Systems Co. Ltd.<sup>(b)</sup> | 3973 | &nbsp;&nbsp; 259843 |
| Harim Holdings Co. Ltd., Class C<sup>(a)(b)</sup> | 15616 | &nbsp;&nbsp; 155519 |
| HD Construction Equipment Co. Ltd. | 7197 | &nbsp;&nbsp; 541780 |
| HD Hyundai Electric Co. Ltd. | 321 | &nbsp;&nbsp; 196659 |
| HD Hyundai Heavy Industries Co. Ltd. | 993 | &nbsp;&nbsp; 395244 |
| HDC Holdings Co. Ltd. | 8736 | &nbsp;&nbsp; 114929 |
| &nbsp;&nbsp;&nbsp; HDC Hyundai Development Co-Engineering & <br> Construction, Class E<br>| 13407 | &nbsp;&nbsp; 191302 |
| Hite Jinro Co. Ltd.<sup>(a)(b)</sup> | 7524 | &nbsp;&nbsp; 91827 |
| HL Mando Co. Ltd.<sup>(a)</sup> | 12503 | &nbsp;&nbsp; 553995 |
| Hotel Shilla Co. Ltd.<sup>(b)</sup> | 6348 | &nbsp;&nbsp; 203289 |
| HS Hyosung Advanced Materials Corp.<sup>(b)</sup> | 811 | &nbsp;&nbsp; 132748 |
| HYBE Co. Ltd.<sup>(b)</sup> | 684 | &nbsp;&nbsp; 176781 |
| Hyosung Corp.<sup>(b)</sup> | 1204 | &nbsp;&nbsp; 127123 |
| Hyosung TNC Corp.<sup>(a)(b)</sup> | 897 | &nbsp;&nbsp; 233766 |
| Hyundai Department Store Co. Ltd. | 3526 | &nbsp;&nbsp; 229142 |
| Hyundai Elevator Co. Ltd. | 2390 | &nbsp;&nbsp; 156181 |
| Hyundai Green Food Co. Ltd. | 2625 | &nbsp;&nbsp; 27834 |
| Hyundai Marine & Fire Insurance Co. Ltd.<sup>(a)(b)</sup> | 21138 | &nbsp;&nbsp; 412115 |
| Hyundai Rotem Co. Ltd. | 1640 | &nbsp;&nbsp; 262228 |
| Hyundai Wia Corp.<sup>(a)</sup> | 5084 | &nbsp;&nbsp; 303554 |
| iM Financial Group Co. Ltd. | 30209 | &nbsp;&nbsp; 324825 |
| JB Financial Group Co. Ltd. | 23818 | &nbsp;&nbsp; 415571 |
| KakaoBank Corp. | 9639 | &nbsp;&nbsp; 152898 |
| Kangwon Land, Inc. | 16518 | &nbsp;&nbsp; 199777 |
| KCC Corp. | 1355 | &nbsp;&nbsp; 458247 |
| KCC Glass Corp. | 1530 | &nbsp;&nbsp; 28561 |
| &nbsp;&nbsp;&nbsp; KEPCO Plant Service & Engineering Co. <br> Ltd.<sup>(b)</sup><br>| 3729 | &nbsp;&nbsp; 144554 |
| KIWOOM Securities Co. Ltd. | 1601 | &nbsp;&nbsp; 492114 |
| Kolon Industries, Inc. | 7158 | &nbsp;&nbsp; 271975 |
| Korea Aerospace Industries Ltd. | 3296 | &nbsp;&nbsp; 384146 |
| Korea Electric Terminal Co. Ltd. | 1384 | &nbsp;&nbsp; 71776 |

---

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

------

**Invesco RAFI Developed Markets ex-U.S. Small-Mid ETF (PDN)—(continued)**

January 31, 2026

*(Unaudited)*

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **South Korea-(continued)** | **South Korea-(continued)** | **South Korea-(continued)** |
| Korea Investment Holdings Co. Ltd. | 6723 | &nbsp;&nbsp; $1005725 |
| Korea Petrochemical Ind Co. Ltd.<sup>(a)(b)</sup> | 1720 | &nbsp;&nbsp; 186606 |
| Korean Reinsurance Co. | 15092 | &nbsp;&nbsp; 123296 |
| Krafton, Inc.<sup>(b)</sup> | 2151 | &nbsp;&nbsp; 377621 |
| Kumho Tire Co., Inc.<sup>(b)</sup> | 27665 | &nbsp;&nbsp; 115494 |
| L&F Co. Ltd.<sup>(b)</sup> | 1933 | &nbsp;&nbsp; 168380 |
| LF Corp. | 2943 | &nbsp;&nbsp; 39245 |
| LG Energy Solution Ltd.<sup>(b)</sup> | 1218 | &nbsp;&nbsp; 334812 |
| LOTTE Chilsung Beverage Co. Ltd. | 1013 | &nbsp;&nbsp; 93752 |
| LOTTE Corp. | 9807 | &nbsp;&nbsp; 213099 |
| LOTTE Fine Chemical Co. Ltd. | 3636 | &nbsp;&nbsp; 119479 |
| Lotte Rental Co. Ltd. | 2296 | &nbsp;&nbsp; 49120 |
| LOTTE Shopping Co. Ltd. | 3630 | &nbsp;&nbsp; 211823 |
| LS Electric Co. Ltd.<sup>(b)</sup> | 882 | &nbsp;&nbsp; 343715 |
| LX International Corp. | 8991 | &nbsp;&nbsp; 238662 |
| LX Semicon Co. Ltd. | 2669 | &nbsp;&nbsp; 101228 |
| Macquarie Korea Infrastructure Fund | 38168 | &nbsp;&nbsp; 296645 |
| Meritz Financial Group, Inc. | 5559 | &nbsp;&nbsp; 449474 |
| Mirae Asset Securities Co. Ltd. | 34593 | &nbsp;&nbsp; 1025528 |
| Misto Holdings Corp. | 6168 | &nbsp;&nbsp; 200850 |
| NCSoft Corp. | 3850 | &nbsp;&nbsp; 626089 |
| &nbsp;&nbsp;&nbsp; Netmarble Corp., (Acquired 09/27/2022 - <br> 12/19/2025; Cost $215,485)<sup>(b)(c)(e)</sup><br>| 5494 | &nbsp;&nbsp; 200972 |
| NH Investment & Securities Co. Ltd. | 23353 | &nbsp;&nbsp; 437831 |
| NHN Corp.<sup>(a)</sup> | 5384 | &nbsp;&nbsp; 120443 |
| NongShim Co. Ltd.<sup>(b)</sup> | 761 | &nbsp;&nbsp; 214513 |
| OCI Holdings Co. Ltd.<sup>(a)(b)</sup> | 4382 | &nbsp;&nbsp; 349522 |
| Orion Corp. | 3228 | &nbsp;&nbsp; 262761 |
| Orion Holdings Corp. | 7707 | &nbsp;&nbsp; 111579 |
| Otoki Corp. | 264 | &nbsp;&nbsp; 70634 |
| Pan Ocean Co. Ltd.<sup>(a)(b)</sup> | 91152 | &nbsp;&nbsp; 296941 |
| Poongsan Corp. | 3917 | &nbsp;&nbsp; 357156 |
| POSCO Future M Co. Ltd.<sup>(b)</sup> | 1180 | &nbsp;&nbsp; 182574 |
| Posco International Corp. | 12238 | &nbsp;&nbsp; 528439 |
| S-1 Corp. | 2249 | &nbsp;&nbsp; 124531 |
| Samsung Biologics Co. Ltd.<sup>(b)(c)</sup> | 137 | &nbsp;&nbsp; 165566 |
| Samsung Card Co. Ltd.<sup>(a)</sup> | 3575 | &nbsp;&nbsp; 140934 |
| Samsung Episholdings Co. Ltd.<sup>(b)</sup> | 74 | &nbsp;&nbsp; 31155 |
| Samsung Heavy Industries Co. Ltd.<sup>(b)</sup> | 26947 | &nbsp;&nbsp; 549211 |
| Samsung Securities Co. Ltd. | 8837 | &nbsp;&nbsp; 554682 |
| Samyang Biopharmaceuticals Corp.<sup>(b)</sup> | 840 | &nbsp;&nbsp; 55790 |
| Samyang Holdings Corp.<sup>(b)</sup> | 790 | &nbsp;&nbsp; 33306 |
| SD Biosensor, Inc.<sup>(b)</sup> | 8881 | &nbsp;&nbsp; 55500 |
| SeAH Steel Holdings Corp. | 521 | &nbsp;&nbsp; 49138 |
| Seegene, Inc. | 9848 | &nbsp;&nbsp; 194818 |
| SFA Engineering Corp. | 4722 | &nbsp;&nbsp; 110236 |
| Shinsegae, Inc.<sup>(a)</sup> | 1795 | &nbsp;&nbsp; 397677 |
| SK Chemicals Co. Ltd. | 2757 | &nbsp;&nbsp; 128129 |
| SK Discovery Co. Ltd. | 1534 | &nbsp;&nbsp; 61586 |
| SK Gas Ltd. | 612 | &nbsp;&nbsp; 98782 |
| SK Networks Co. Ltd. | 18852 | &nbsp;&nbsp; 73169 |
| SKC Co. Ltd.<sup>(b)</sup> | 1682 | &nbsp;&nbsp; 135844 |
| SL Corp.<sup>(b)</sup> | 4844 | &nbsp;&nbsp; 186531 |
| Soulbrain Co. Ltd. | 686 | &nbsp;&nbsp; 230208 |
| Taihan Cable & Solution Co. Ltd.<sup>(b)</sup> | 10813 | &nbsp;&nbsp; 219464 |
| WONIK IPS Co. Ltd.<sup>(b)</sup> | 6542 | &nbsp;&nbsp; 514654 |
| Youngone Corp. | 2901 | &nbsp;&nbsp; 183240 |
| Youngone Holdings Co. Ltd. | 802 | &nbsp;&nbsp; 115197 |
| Yuhan Corp.<sup>(b)</sup> | 3005 | &nbsp;&nbsp; 224611 |
|  |  | &nbsp;&nbsp; 30317881 |
| **Spain-1.46%** | **Spain-1.46%** | **Spain-1.46%** |
| Acciona S.A.<sup>(a)</sup> | 3075 | &nbsp;&nbsp; 663265 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Spain-(continued)** | **Spain-(continued)** | **Spain-(continued)** |
| Almirall S.A.<sup>(a)</sup> | 9642 | &nbsp;&nbsp; $144858 |
| &nbsp;&nbsp;&nbsp; Atresmedia Corp. de Medios de <br> Comunicacion S.A.<sup>(a)</sup><br>| 17442 | &nbsp;&nbsp; 108932 |
| Befesa S.A.<sup>(c)</sup> | 6594 | &nbsp;&nbsp; 242386 |
| CIE Automotive S.A.<sup>(a)</sup> | 6252 | &nbsp;&nbsp; 213749 |
| Colonial SFL Socimi S.A.<sup>(a)</sup> | 60325 | &nbsp;&nbsp; 374472 |
| &nbsp;&nbsp;&nbsp; Construcciones y Auxiliar de Ferrocarriles <br> S.A.<br>| 2735 | &nbsp;&nbsp; 182985 |
| &nbsp;&nbsp;&nbsp; Corporacion ACCIONA Energias Renovables <br> S.A.<sup>(a)</sup><br>| 6701 | &nbsp;&nbsp; 170242 |
| Ebro Foods S.A. | 5079 | &nbsp;&nbsp; 111099 |
| EDP Renovaveis S.A. | 35231 | &nbsp;&nbsp; 537150 |
| Elecnor S.A. | 4572 | &nbsp;&nbsp; 146261 |
| Faes Farma S.A. | 25953 | &nbsp;&nbsp; 161493 |
| Fluidra S.A. | 8398 | &nbsp;&nbsp; 245170 |
| Gestamp Automocion S.A.<sup>(c)</sup> | 56849 | &nbsp;&nbsp; 204563 |
| Indra Sistemas S.A.<sup>(a)</sup> | 7179 | &nbsp;&nbsp; 465691 |
| &nbsp;&nbsp;&nbsp; Linea Directa Aseguradora S.A. Cia de <br> Seguros y Reaseguros<br>| 53364 | &nbsp;&nbsp; 74694 |
| Logista Integral S.A. | 6591 | &nbsp;&nbsp; 241290 |
| Sacyr S.A. | 53448 | &nbsp;&nbsp; 252417 |
| Unicaja Banco S.A.<sup>(c)</sup> | 125726 | &nbsp;&nbsp; 432412 |
| Vidrala S.A.<sup>(a)</sup> | 2011 | &nbsp;&nbsp; 210858 |
| Viscofan S.A. | 5670 | &nbsp;&nbsp; 381898 |
|  |  | &nbsp;&nbsp; 5565885 |
| **Sweden-3.26%** | **Sweden-3.26%** | **Sweden-3.26%** |
| AAK AB<sup>(a)</sup> | 14177 | &nbsp;&nbsp; 399176 |
| AcadeMedia AB<sup>(a)(c)</sup> | 13117 | &nbsp;&nbsp; 139856 |
| AddLife AB, Class B | 5646 | &nbsp;&nbsp; 87030 |
| Addtech AB, Class B | 6165 | &nbsp;&nbsp; 201421 |
| AFRY AB<sup>(a)</sup> | 16281 | &nbsp;&nbsp; 259959 |
| Alleima AB<sup>(a)</sup> | 27512 | &nbsp;&nbsp; 241949 |
| Arjo AB, Class B | 37772 | &nbsp;&nbsp; 113939 |
| Atea ASA<sup>(b)</sup> | 7602 | &nbsp;&nbsp; 122053 |
| Atrium Ljungberg AB<sup>(a)</sup> | 28724 | &nbsp;&nbsp; 109472 |
| Attendo AB<sup>(c)</sup> | 15706 | &nbsp;&nbsp; 157764 |
| Avanza Bank Holding AB<sup>(a)</sup> | 3169 | &nbsp;&nbsp; 124243 |
| Axfood AB<sup>(a)</sup> | 10777 | &nbsp;&nbsp; 371539 |
| Beijer Ref AB<sup>(a)</sup> | 17524 | &nbsp;&nbsp; 251009 |
| Betsson AB, Class B | 13014 | &nbsp;&nbsp; 153759 |
| Bilia AB, Class A | 8357 | &nbsp;&nbsp; 119152 |
| Bravida Holding AB<sup>(c)</sup> | 26750 | &nbsp;&nbsp; 265188 |
| Catena AB<sup>(a)</sup> | 2258 | &nbsp;&nbsp; 117944 |
| Corem Property Group AB, Class B<sup>(a)</sup> | 227129 | &nbsp;&nbsp; 105799 |
| Dios Fastigheter AB | 15493 | &nbsp;&nbsp; 112907 |
| Dometic Group AB<sup>(a)(c)</sup> | 81374 | &nbsp;&nbsp; 352406 |
| Electrolux Professional AB<sup>(a)</sup> | 14874 | &nbsp;&nbsp; 103127 |
| Elekta AB, Class B | 66848 | &nbsp;&nbsp; 432394 |
| Embracer Group AB, Class A<sup>(a)(b)</sup> | 20338 | &nbsp;&nbsp; 112097 |
| Fabege AB<sup>(a)</sup> | 33237 | &nbsp;&nbsp; 308922 |
| Fastighets AB Balder, Class B<sup>(a)(b)</sup> | 55647 | &nbsp;&nbsp; 422343 |
| Getinge AB, Class B<sup>(a)</sup> | 26108 | &nbsp;&nbsp; 575657 |
| Granges AB | 15226 | &nbsp;&nbsp; 257093 |
| Hexpol AB<sup>(a)</sup> | 37054 | &nbsp;&nbsp; 305168 |
| Hufvudstaden AB, Class A<sup>(a)</sup> | 11966 | &nbsp;&nbsp; 166381 |
| Indutrade AB | 11903 | &nbsp;&nbsp; 281173 |
| Inwido AB<sup>(a)</sup> | 7598 | &nbsp;&nbsp; 131595 |
| JM AB<sup>(a)</sup> | 18255 | &nbsp;&nbsp; 282670 |
| Lifco AB, Class B | 4812 | &nbsp;&nbsp; 166382 |
| Lindab International AB<sup>(a)</sup> | 7693 | &nbsp;&nbsp; 162733 |
| Loomis AB | 10391 | &nbsp;&nbsp; 433879 |
| MEKO AB | 6974 | &nbsp;&nbsp; 55780 |

---

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

------

**Invesco RAFI Developed Markets ex-U.S. Small-Mid ETF (PDN)—(continued)**

January 31, 2026

*(Unaudited)*

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Sweden-(continued)** | **Sweden-(continued)** | **Sweden-(continued)** |
| Munters Group AB<sup>(c)</sup> | 6441 | &nbsp;&nbsp; $127963 |
| Mycronic AB | 5642 | &nbsp;&nbsp; 130679 |
| NCC AB, Class B | 15985 | &nbsp;&nbsp; 411879 |
| New Wave Group AB, Class B<sup>(a)</sup> | 8477 | &nbsp;&nbsp; 102282 |
| Nolato AB, Class B<sup>(a)</sup> | 17452 | &nbsp;&nbsp; 114771 |
| Nyfosa AB | 14690 | &nbsp;&nbsp; 117509 |
| Pandox AB | 5865 | &nbsp;&nbsp; 127334 |
| Peab AB, Class B | 30095 | &nbsp;&nbsp; 302668 |
| Ratos AB, Class B | 45285 | &nbsp;&nbsp; 194769 |
| Saab AB, Class B | 10636 | &nbsp;&nbsp; 835031 |
| Sagax AB, Class B<sup>(a)</sup> | 9770 | &nbsp;&nbsp; 216784 |
| &nbsp;&nbsp;&nbsp; Samhallsbyggnadsbolaget i Norden AB, <br> Class B<sup>(a)(b)</sup><br>| 499687 | &nbsp;&nbsp; 276902 |
| Scandic Hotels Group AB<sup>(c)</sup> | 15118 | &nbsp;&nbsp; 152013 |
| Sweco AB, Class B | 12556 | &nbsp;&nbsp; 209315 |
| Swedish Orphan Biovitrum AB, Class B<sup>(b)</sup> | 11680 | &nbsp;&nbsp; 446321 |
| Thule Group AB<sup>(a)(c)</sup> | 10700 | &nbsp;&nbsp; 257947 |
| Wallenstam AB, Class B<sup>(a)</sup> | 32889 | &nbsp;&nbsp; 150714 |
| Wihlborgs Fastigheter AB | 21873 | &nbsp;&nbsp; 227404 |
|  |  | &nbsp;&nbsp; 12406244 |
| **Switzerland-3.56%** | **Switzerland-3.56%** | **Switzerland-3.56%** |
| Accelleron Industries AG<sup>(b)</sup> | 2622 | &nbsp;&nbsp; 252132 |
| Allreal Holding AG<sup>(b)</sup> | 1639 | &nbsp;&nbsp; 481297 |
| ALSO Holding AG | 967 | &nbsp;&nbsp; 250169 |
| Aryzta AG<sup>(b)</sup> | 3424 | &nbsp;&nbsp; 243654 |
| Avolta AG<sup>(b)</sup> | 8145 | &nbsp;&nbsp; 500592 |
| Bachem Holding AG<sup>(a)(b)</sup> | 1579 | &nbsp;&nbsp; 143691 |
| Banque Cantonale Vaudoise<sup>(a)</sup> | 2258 | &nbsp;&nbsp; 306766 |
| Belimo Holding AG | 346 | &nbsp;&nbsp; 379921 |
| Bell Food Group AG<sup>(b)</sup> | 111 | &nbsp;&nbsp; 31973 |
| BKW AG<sup>(b)</sup> | 1791 | &nbsp;&nbsp; 339928 |
| Bossard Holding AG, Class A<sup>(a)</sup> | 579 | &nbsp;&nbsp; 114230 |
| Burckhardt Compression Holding AG | 160 | &nbsp;&nbsp; 111046 |
| Cembra Money Bank AG | 2713 | &nbsp;&nbsp; 348159 |
| Comet Holding AG | 524 | &nbsp;&nbsp; 203677 |
| CRISPR Therapeutics AG<sup>(a)(b)</sup> | 6944 | &nbsp;&nbsp; 346922 |
| Daetwyler Holding AG, BR<sup>(a)</sup> | 705 | &nbsp;&nbsp; 144651 |
| dormakaba Holding AG | 2494 | &nbsp;&nbsp; 188286 |
| EFG International AG<sup>(b)</sup> | 6548 | &nbsp;&nbsp; 167986 |
| Emmi AG<sup>(a)(b)</sup> | 261 | &nbsp;&nbsp; 265449 |
| EMS-Chemie Holding AG | 457 | &nbsp;&nbsp; 356687 |
| Flughafen Zureich AG<sup>(b)</sup> | 1089 | &nbsp;&nbsp; 339541 |
| Forbo Holding AG<sup>(a)</sup> | 176 | &nbsp;&nbsp; 208663 |
| Galderma Group AG, Class A | 1490 | &nbsp;&nbsp; 278817 |
| Garrett Motion, Inc. | 12114 | &nbsp;&nbsp; 218537 |
| Georg Fischer AG<sup>(a)</sup> | 5638 | &nbsp;&nbsp; 377242 |
| Huber + Suhner AG | 1914 | &nbsp;&nbsp; 388624 |
| Inficon Holding AG | 1047 | &nbsp;&nbsp; 166334 |
| International Workplace Group PLC | 131519 | &nbsp;&nbsp; 447139 |
| Interroll Holding AG, Class R | 58 | &nbsp;&nbsp; 140215 |
| Kardex Holding AG | 316 | &nbsp;&nbsp; 111519 |
| Landis+Gyr Group AG<sup>(b)</sup> | 5987 | &nbsp;&nbsp; 422219 |
| Luzerner Kantonalbank AG<sup>(a)</sup> | 1199 | &nbsp;&nbsp; 153343 |
| Mobimo Holding AG<sup>(b)</sup> | 589 | &nbsp;&nbsp; 297767 |
| OC Oerlikon Corp. AG<sup>(a)</sup> | 45745 | &nbsp;&nbsp; 210635 |
| On Holding AG, Class A<sup>(b)</sup> | 3158 | &nbsp;&nbsp; 142900 |
| SFS Group AG<sup>(b)</sup> | 1499 | &nbsp;&nbsp; 220932 |
| Siegfried Holding AG<sup>(b)</sup> | 1722 | &nbsp;&nbsp; 212565 |
| SIG Group AG<sup>(a)(b)</sup> | 34898 | &nbsp;&nbsp; 542095 |
| St Galler Kantonalbank AG<sup>(a)</sup> | 211 | &nbsp;&nbsp; 162806 |
| Stadler Rail AG<sup>(a)</sup> | 8016 | &nbsp;&nbsp; 206169 |
| Straumann Holding AG<sup>(a)(b)</sup> | 3229 | &nbsp;&nbsp; 389864 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Switzerland-(continued)** | **Switzerland-(continued)** | **Switzerland-(continued)** |
| Sulzer AG | 1226 | &nbsp;&nbsp; $265192 |
| Swissquote Group Holding S.A. | 216 | &nbsp;&nbsp; 123449 |
| Tecan Group AG, Class R<sup>(b)</sup> | 1499 | &nbsp;&nbsp; 265131 |
| Temenos AG | 3314 | &nbsp;&nbsp; 294012 |
| TORM PLC, Class A | 14423 | &nbsp;&nbsp; 355869 |
| Valiant Holding AG | 1687 | &nbsp;&nbsp; 339974 |
| VAT Group AG<sup>(c)</sup> | 956 | &nbsp;&nbsp; 620622 |
| Vaudoise Assurances Holding S.A.<sup>(b)</sup> | 110 | &nbsp;&nbsp; 105179 |
| Vontobel Holding AG, Class R | 3855 | &nbsp;&nbsp; 333541 |
|  |  | &nbsp;&nbsp; 13518111 |
| **Taiwan-0.07%** | **Taiwan-0.07%** | **Taiwan-0.07%** |
| FIT Hon Teng Ltd.<sup>(b)(c)</sup> | 421184 | &nbsp;&nbsp; 263356 |
| **Turkey-0.24%** | **Turkey-0.24%** | **Turkey-0.24%** |
| Eldorado Gold Corp.<sup>(b)</sup> | 21006 | &nbsp;&nbsp; 906229 |
| **United Kingdom-7.12%** | **United Kingdom-7.12%** | **United Kingdom-7.12%** |
| 4imprint Group PLC | 2874 | &nbsp;&nbsp; 161480 |
| AG Barr PLC | 10265 | &nbsp;&nbsp; 89828 |
| Allfunds Group PLC | 41377 | &nbsp;&nbsp; 402443 |
| Ashmore Group PLC<sup>(a)</sup> | 82697 | &nbsp;&nbsp; 269072 |
| Auto Trader Group PLC<sup>(c)</sup> | 25506 | &nbsp;&nbsp; 188553 |
| Babcock International Group PLC | 29850 | &nbsp;&nbsp; 590214 |
| Beazley PLC | 47498 | &nbsp;&nbsp; 740011 |
| Big Yellow Group PLC | 22815 | &nbsp;&nbsp; 323885 |
| Bodycote PLC | 26057 | &nbsp;&nbsp; 267318 |
| Breedon Group PLC | 51449 | &nbsp;&nbsp; 237648 |
| Bridgepoint Group PLC<sup>(c)</sup> | 26045 | &nbsp;&nbsp; 97156 |
| Chemring Group PLC | 32213 | &nbsp;&nbsp; 220848 |
| Clarkson PLC | 3448 | &nbsp;&nbsp; 198533 |
| Close Brothers Group PLC<sup>(a)(b)</sup> | 65112 | &nbsp;&nbsp; 453288 |
| Coats Group PLC | 193667 | &nbsp;&nbsp; 226019 |
| Computacenter PLC | 9849 | &nbsp;&nbsp; 452053 |
| Convatec Group PLC<sup>(c)</sup> | 127812 | &nbsp;&nbsp; 404309 |
| Cranswick PLC | 6654 | &nbsp;&nbsp; 481661 |
| CVS Group PLC | 6311 | &nbsp;&nbsp; 112939 |
| Derwent London PLC | 18099 | &nbsp;&nbsp; 480749 |
| Diploma PLC | 4468 | &nbsp;&nbsp; 326429 |
| Domino's Pizza Group PLC | 60071 | &nbsp;&nbsp; 150318 |
| Dr. Martens PLC<sup>(a)</sup> | 100926 | &nbsp;&nbsp; 93309 |
| Dunelm Group PLC | 14825 | &nbsp;&nbsp; 187773 |
| easyJet PLC | 80999 | &nbsp;&nbsp; 531485 |
| Elementis PLC | 70743 | &nbsp;&nbsp; 156369 |
| Endava PLC, ADR<sup>(a)(b)</sup> | 12498 | &nbsp;&nbsp; 78987 |
| Firstgroup PLC | 110542 | &nbsp;&nbsp; 283561 |
| Frasers Group PLC<sup>(a)(b)</sup> | 21406 | &nbsp;&nbsp; 204494 |
| Future PLC | 20658 | &nbsp;&nbsp; 153333 |
| Games Workshop Group PLC | 1336 | &nbsp;&nbsp; 312562 |
| Gamma Communications PLC | 9012 | &nbsp;&nbsp; 112572 |
| GB Group PLC | 33428 | &nbsp;&nbsp; 109940 |
| Genuit Group PLC | 36324 | &nbsp;&nbsp; 165853 |
| Genus PLC | 6548 | &nbsp;&nbsp; 284620 |
| Grafton Group PLC | 26180 | &nbsp;&nbsp; 335687 |
| Grainger PLC | 92370 | &nbsp;&nbsp; 246565 |
| Great Portland Estates PLC | 42630 | &nbsp;&nbsp; 219419 |
| Greggs PLC<sup>(a)</sup> | 13974 | &nbsp;&nbsp; 308349 |
| Hammerson PLC | 51629 | &nbsp;&nbsp; 251408 |
| Harbour Energy PLC | 134945 | &nbsp;&nbsp; 433452 |
| Hikma Pharmaceuticals PLC | 21965 | &nbsp;&nbsp; 462060 |
| Hill & Smith PLC | 6760 | &nbsp;&nbsp; 207154 |
| Hilton Food Group PLC | 13433 | &nbsp;&nbsp; 87134 |
| Howden Joinery Group PLC | 50295 | &nbsp;&nbsp; 577818 |
| Hunting PLC | 28396 | &nbsp;&nbsp; 173255 |

---

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

------

**Invesco RAFI Developed Markets ex-U.S. Small-Mid ETF (PDN)—(continued)**

January 31, 2026

*(Unaudited)*

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **United Kingdom-(continued)** | **United Kingdom-(continued)** | **United Kingdom-(continued)** |
| Ibstock PLC<sup>(a)(c)</sup> | 76312 | &nbsp;&nbsp; $133151 |
| InterContinental Hotels Group PLC | 3527 | &nbsp;&nbsp; 476499 |
| J D Wetherspoon PLC<sup>(a)</sup> | 12098 | &nbsp;&nbsp; 111257 |
| James Halstead PLC<sup>(a)</sup> | 18700 | &nbsp;&nbsp; 35423 |
| JET2 PLC | 15284 | &nbsp;&nbsp; 259839 |
| Just Group PLC | 78533 | &nbsp;&nbsp; 233332 |
| Keller Group PLC | 12412 | &nbsp;&nbsp; 302964 |
| Kier Group PLC | 98909 | &nbsp;&nbsp; 303949 |
| Lancashire Holdings Ltd. | 30025 | &nbsp;&nbsp; 254294 |
| LondonMetric Property PLC | 164020 | &nbsp;&nbsp; 451533 |
| Marshalls PLC | 58077 | &nbsp;&nbsp; 124751 |
| Mitchells & Butlers PLC<sup>(b)</sup> | 24849 | &nbsp;&nbsp; 90056 |
| Mitie Group PLC | 140594 | &nbsp;&nbsp; 322324 |
| Molten Ventures PLC<sup>(b)</sup> | 22575 | &nbsp;&nbsp; 156938 |
| MONY Group PLC | 74947 | &nbsp;&nbsp; 191865 |
| Morgan Advanced Materials PLC<sup>(a)</sup> | 52031 | &nbsp;&nbsp; 163422 |
| Morgan Sindall Group PLC | 6016 | &nbsp;&nbsp; 408097 |
| Ninety One PLC | 49795 | &nbsp;&nbsp; 173846 |
| Ocado Group PLC<sup>(a)(b)</sup> | 62492 | &nbsp;&nbsp; 187815 |
| OSB Group PLC | 64436 | &nbsp;&nbsp; 540108 |
| Oxford Instruments PLC | 5282 | &nbsp;&nbsp; 183301 |
| PageGroup PLC<sup>(a)</sup> | 50667 | &nbsp;&nbsp; 143579 |
| Paragon Banking Group PLC | 23386 | &nbsp;&nbsp; 285396 |
| Pepco Group N.V.<sup>(a)(c)</sup> | 20729 | &nbsp;&nbsp; 170192 |
| Petrofac Ltd.<sup>(a)(b)(d)</sup> | 387808 | &nbsp;&nbsp; 1058 |
| Pets at Home Group PLC | 94742 | &nbsp;&nbsp; 266097 |
| Polar Capital Holdings PLC | 13522 | &nbsp;&nbsp; 109455 |
| Premier Foods PLC | 85404 | &nbsp;&nbsp; 221648 |
| Primary Health Properties PLC | 264693 | &nbsp;&nbsp; 376786 |
| QinetiQ Group PLC | 58152 | &nbsp;&nbsp; 401775 |
| Rathbones Group PLC | 5234 | &nbsp;&nbsp; 158877 |
| Renew Holdings PLC | 10215 | &nbsp;&nbsp; 131347 |
| Renishaw PLC | 3834 | &nbsp;&nbsp; 199914 |
| Rightmove PLC | 18945 | &nbsp;&nbsp; 128612 |
| Rotork PLC | 72370 | &nbsp;&nbsp; 352195 |
| RWS Holdings PLC<sup>(a)</sup> | 79548 | &nbsp;&nbsp; 91953 |
| Safestore Holdings PLC | 30217 | &nbsp;&nbsp; 344380 |
| Savills PLC | 18808 | &nbsp;&nbsp; 278365 |
| Senior PLC | 64665 | &nbsp;&nbsp; 217002 |
| Serco Group PLC | 177885 | &nbsp;&nbsp; 732466 |
| Serica Energy PLC | 64221 | &nbsp;&nbsp; 190249 |
| Shaftesbury Capital PLC | 123266 | &nbsp;&nbsp; 243189 |
| Softcat PLC | 6722 | &nbsp;&nbsp; 132020 |
| Spirax Group PLC | 5881 | &nbsp;&nbsp; 587680 |
| Spire Healthcare Group PLC<sup>(c)</sup> | 40915 | &nbsp;&nbsp; 114988 |
| SSP Group PLC | 97312 | &nbsp;&nbsp; 244348 |
| Supermarket Income REIT PLC | 126338 | &nbsp;&nbsp; 145057 |
| Telecom Plus PLC<sup>(a)</sup> | 7775 | &nbsp;&nbsp; 142442 |
| THG PLC<sup>(a)(b)</sup> | 313598 | &nbsp;&nbsp; 160345 |
| TP ICAP Group PLC | 118920 | &nbsp;&nbsp; 416025 |
| Tritax Big Box REIT PLC | 204914 | &nbsp;&nbsp; 466467 |
| Unite Group PLC (The) | 49516 | &nbsp;&nbsp; 386203 |
| Vesuvius PLC | 42100 | &nbsp;&nbsp; 265685 |
| Victrex PLC | 13435 | &nbsp;&nbsp; 121077 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **United Kingdom-(continued)** | **United Kingdom-(continued)** | **United Kingdom-(continued)** |
| Watches of Switzerland Group PLC<sup>(b)(c)</sup> | 34936 | &nbsp;&nbsp; $249546 |
| WH Smith PLC | 15141 | &nbsp;&nbsp; 140247 |
| Workspace Group PLC | 26899 | &nbsp;&nbsp; 154780 |
| Yellow Cake PLC<sup>(b)(c)</sup> | 17524 | &nbsp;&nbsp; 164063 |
| Zigup PLC | 36898 | &nbsp;&nbsp; 193030 |
|  |  | &nbsp;&nbsp; 27085215 |
| **United States-1.76%** | **United States-1.76%** | **United States-1.76%** |
| Alkermes PLC<sup>(b)</sup> | 12827 | &nbsp;&nbsp; 434707 |
| Atlassian Corp., Class A<sup>(b)</sup> | 2281 | &nbsp;&nbsp; 269568 |
| Bausch + Lomb Corp.<sup>(b)</sup> | 9323 | &nbsp;&nbsp; 152153 |
| Burford Capital Ltd.<sup>(a)</sup> | 18794 | &nbsp;&nbsp; 179600 |
| Buzzi S.p.A. | 9231 | &nbsp;&nbsp; 527350 |
| Carnival PLC, ADR<sup>(b)</sup> | 9839 | &nbsp;&nbsp; 293104 |
| Coffee Stain Studios AB<sup>(a)(b)</sup> | 20338 | &nbsp;&nbsp; 42595 |
| Constellium SE<sup>(b)</sup> | 29252 | &nbsp;&nbsp; 657292 |
| Curaleaf Holdings, Inc.<sup>(b)</sup> | 51733 | &nbsp;&nbsp; 114992 |
| CyberArk Software Ltd.<sup>(b)</sup> | 390 | &nbsp;&nbsp; 168024 |
| Diversified Energy Co.<sup>(a)</sup> | 18574 | &nbsp;&nbsp; 242988 |
| Dole PLC | 21458 | &nbsp;&nbsp; 341826 |
| Ferrovial SE | 9843 | &nbsp;&nbsp; 667259 |
| Galaxy Digital, Inc.<sup>(b)</sup> | 1919 | &nbsp;&nbsp; 54559 |
| GFL Environmental, Inc. | 7938 | &nbsp;&nbsp; 342867 |
| Inmode Ltd.<sup>(b)</sup> | 7911 | &nbsp;&nbsp; 124282 |
| Monday.com Ltd.<sup>(b)</sup> | 436 | &nbsp;&nbsp; 50031 |
| Oracle Corp. | 2100 | &nbsp;&nbsp; 142557 |
| Reliance Worldwide Corp. Ltd. | 103328 | &nbsp;&nbsp; 270124 |
| RHI Magnesita N.V.<sup>(a)</sup> | 1734 | &nbsp;&nbsp; 66023 |
| Samsonite Group S.A.<sup>(c)</sup> | 144710 | &nbsp;&nbsp; 367774 |
| Sinch AB<sup>(a)(b)(c)</sup> | 127487 | &nbsp;&nbsp; 384388 |
| SolarEdge Technologies, Inc.<sup>(a)(b)</sup> | 21568 | &nbsp;&nbsp; 667530 |
| Titan S.A. | 2119 | &nbsp;&nbsp; 143496 |
|  |  | &nbsp;&nbsp; 6705089 |
| &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES <br>(excluding investments purchased with cash collateral <br> from securities on loan)-99.83% <br>(Cost $310,434,389) | &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES <br>(excluding investments purchased with cash collateral <br> from securities on loan)-99.83% <br>(Cost $310,434,389) | &nbsp;&nbsp; 379512631 |
| **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-14.62%** | **Money Market Funds-14.62%** | **Money Market Funds-14.62%** |
| &nbsp;&nbsp;&nbsp; Invesco Private Government Fund, <br> 3.65%<sup>(f)(g)(h)</sup><br>| 15439207 | &nbsp;&nbsp; 15439207 |
| Invesco Private Prime Fund, 3.80%<sup>(f)(g)(h)</sup> | 40107160 | &nbsp;&nbsp; 40119192 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Investments Purchased with Cash Collateral from <br> Securities on Loan <br>(Cost $55,558,586) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Investments Purchased with Cash Collateral from <br> Securities on Loan <br>(Cost $55,558,586) | &nbsp;&nbsp; 55558399 |
| &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES-114.45% <br>(Cost $365,992,975) | &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES-114.45% <br>(Cost $365,992,975) | &nbsp;&nbsp; 435071030 |
| OTHER ASSETS LESS LIABILITIES-(14.45)% | OTHER ASSETS LESS LIABILITIES-(14.45)% | &nbsp;&nbsp; (54931273)<br>|
| NET ASSETS-100.00% | NET ASSETS-100.00% | &nbsp;&nbsp; $380139757 |

---

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

------

**Invesco RAFI Developed Markets ex-U.S. Small-Mid ETF (PDN)—(continued)**

January 31, 2026

*(Unaudited)*

---

| |
|:---|
| Investment Abbreviations: |
| ADR-American Depositary Receipt |
| BR-Bearer Shares |
| CVA-Dutch Certificates |
| REIT-Real Estate Investment Trust |
| Wts.-Warrants |

---

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

---

| | |
|:---|:---|
| Notes to Schedule of Investments: | Notes to Schedule of Investments: |
| <sup>(a)</sup> | All or a portion of this security was out on loan at January 31, 2026. |
| <sup>(b)</sup> | Non-income producing security. |
| <sup>(c)</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 $14,405,098, which represented 3.79% of the Fund's Net Assets.<br>|
| <sup>(d)</sup> | Security valued using significant unobservable inputs (Level 3). See Note 1. |
| <sup>(e)</sup> | Restricted security. The aggregate value of these securities at January 31, 2026 was $641,172, which represented less than 1% of the Fund's Net Assets. |
| <sup>(f)</sup> | Affiliated holding. Affiliated holdings are investments in entities which are under common ownership or control of Invesco Ltd. or are investments in entities in <br> which the Fund owns 5% or more of the outstanding voting securities. The table below shows the Fund's transactions in, and earnings from, its investments in <br> affiliates for the three months ended 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>**(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; $- | &nbsp;&nbsp;&nbsp; $5604394 | &nbsp;&nbsp;&nbsp; $(5604394)<br>| &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $2430 |
| **Investments Purchased** <br> **with Cash Collateral** <br> **from Securities on** <br> **Loan:**<br>|  |  |  |  |  |  |  |
| &nbsp;&nbsp; Invesco Private <br> Government Fund<br>| &nbsp;&nbsp;&nbsp; 14588985 | &nbsp;&nbsp;&nbsp; 13436660 | &nbsp;&nbsp;&nbsp; (12586438)<br>| &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; 15439207 | &nbsp;&nbsp;&nbsp; 143,158<br> \*<br>|
| &nbsp;&nbsp; Invesco Private Prime <br> Fund<br>| &nbsp;&nbsp;&nbsp; 37890365 | &nbsp;&nbsp;&nbsp; 30224810 | &nbsp;&nbsp;&nbsp; (27995982)<br>| &nbsp;&nbsp;&nbsp; (228)<br>| &nbsp;&nbsp;&nbsp; 227 | &nbsp;&nbsp;&nbsp; 40119192 | &nbsp;&nbsp;&nbsp; 386,995<br> \*<br>|
| &nbsp;&nbsp; Total | &nbsp;&nbsp;&nbsp; $52479350 | &nbsp;&nbsp;&nbsp; $49265864 | &nbsp;&nbsp;&nbsp; $(46186814)<br>| &nbsp;&nbsp;&nbsp; $(228)<br>| &nbsp;&nbsp;&nbsp; $227 | &nbsp;&nbsp;&nbsp; $55558399 | &nbsp;&nbsp;&nbsp; $532583 |

---

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

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

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

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

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

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

------

Schedule of Investments

**Invesco RAFI Emerging Markets ETF (PXH)**

January 31, 2026

*(Unaudited)*

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

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Common Stocks & Other Equity Interests-99.59%** | **Common Stocks & Other Equity Interests-99.59%** | **Common Stocks & Other Equity Interests-99.59%** |
| **Brazil-12.34%** | **Brazil-12.34%** | **Brazil-12.34%** |
| Ambev S.A. | 1692177 | &nbsp;&nbsp; $4799654 |
| AXIA Energia | 514862 | &nbsp;&nbsp; 5346725 |
| AXIA Energia, Preference Shares<sup>(a)</sup> | 134340 | &nbsp;&nbsp; 1354803 |
| B3 S.A. - Brasil, Bolsa, Balcao | 1160982 | &nbsp;&nbsp; 3581259 |
| Banco Bradesco S.A., Preference Shares | 3846006 | &nbsp;&nbsp; 15654208 |
| Banco do Brasil S.A. | 1992596 | &nbsp;&nbsp; 9598470 |
| &nbsp;&nbsp;&nbsp; Cia de Saneamento Basico do Estado de <br> Sao Paulo SABESP<br>| 99199 | &nbsp;&nbsp; 2675732 |
| &nbsp;&nbsp;&nbsp; Cia Energetica de Minas Gerais, Preference <br> Shares<br>| 1181708 | &nbsp;&nbsp; 2591133 |
| Cia Paranaense de Energia | 791980 | &nbsp;&nbsp; 1993734 |
| Cia Siderurgica Nacional S.A.<sup>(a)</sup> | 1557282 | &nbsp;&nbsp; 2995259 |
| Cosan S.A.<sup>(a)</sup> | 1371565 | &nbsp;&nbsp; 1545632 |
| Equatorial S.A. | 354300 | &nbsp;&nbsp; 2769137 |
| Gerdau S.A., Preference Shares | 1695554 | &nbsp;&nbsp; 7260807 |
| &nbsp;&nbsp;&nbsp; Hapvida Participacoes e Investimentos <br> S.A.<sup>(a)(b)</sup><br>| 338186 | &nbsp;&nbsp; 839724 |
| &nbsp;&nbsp;&nbsp; Itau Unibanco Holding S.A., Preference <br> Shares<br>| 1954985 | &nbsp;&nbsp; 16989967 |
| Itausa S.A., Preference Shares | 1 | &nbsp;&nbsp; 3 |
| Klabin S.A. | 401117 | &nbsp;&nbsp; 1467926 |
| Localiza Rent a Car S.A. | 262400 | &nbsp;&nbsp; 2425254 |
| &nbsp;&nbsp;&nbsp; Localiza Rent a Car S.A., Preference <br> Shares<sup>(a)</sup><br>| 10019 | &nbsp;&nbsp; 89292 |
| &nbsp;&nbsp;&nbsp; Metalurgica Gerdau S.A., Preference <br> Shares<br>| 1895055 | &nbsp;&nbsp; 3572536 |
| Natura Cosmeticos S.A.<sup>(a)</sup> | 287400 | &nbsp;&nbsp; 481420 |
| Petroleo Brasileiro S.A., Preference Shares | 9707345 | &nbsp;&nbsp; 70011623 |
| Suzano S.A. | 292368 | &nbsp;&nbsp; 2754727 |
| Telefonica Brasil S.A. | 418680 | &nbsp;&nbsp; 2989229 |
| Ultrapar Participacoes S.A. | 816592 | &nbsp;&nbsp; 3958534 |
| Vale S.A. | 3493361 | &nbsp;&nbsp; 56261558 |
| Vibra Energia S.A. | 1612003 | &nbsp;&nbsp; 8855079 |
| WEG S.A. | 183400 | &nbsp;&nbsp; 1811739 |
|  |  | &nbsp;&nbsp; 234675164 |
| **Chile-0.76%** | **Chile-0.76%** | **Chile-0.76%** |
| Banco de Chile | 10746243 | &nbsp;&nbsp; 2396274 |
| Cencosud S.A. | 549480 | &nbsp;&nbsp; 1861278 |
| Empresas CMPC S.A. | 478338 | &nbsp;&nbsp; 725925 |
| Empresas COPEC S.A. | 120272 | &nbsp;&nbsp; 1037864 |
| Enel Americas S.A. | 6789185 | &nbsp;&nbsp; 648814 |
| Falabella S.A. | 259481 | &nbsp;&nbsp; 2038688 |
| &nbsp;&nbsp;&nbsp; Sociedad Quimica y Minera de Chile S.A., <br> Class B, Preference Shares<sup>(a)</sup><br>| 74580 | &nbsp;&nbsp; 5812927 |
|  |  | &nbsp;&nbsp; 14521770 |
| **China-38.42%** | **China-38.42%** | **China-38.42%** |
| Agricultural Bank of China Ltd., H Shares | 15575160 | &nbsp;&nbsp; 10892204 |
| Alibaba Group Holding Ltd. | 3867224 | &nbsp;&nbsp; 82295008 |
| Aluminum Corp. of China Ltd., H Shares | 2426153 | &nbsp;&nbsp; 4237538 |
| Anhui Conch Cement Co. Ltd., H Shares<sup>(c)</sup> | 1578946 | &nbsp;&nbsp; 5008880 |
| ANTA Sports Products Ltd. | 198279 | &nbsp;&nbsp; 1981404 |
| BAIC Motor Corp. Ltd., H Shares<sup>(a)(b)(c)</sup> | 2464160 | &nbsp;&nbsp; 583379 |
| Baidu, Inc., A Shares<sup>(a)</sup> | 1029846 | &nbsp;&nbsp; 19745699 |
| Bank of Beijing Co. Ltd., A Shares | 2331300 | &nbsp;&nbsp; 1777796 |
| Bank of China Ltd., H Shares | 41707217 | &nbsp;&nbsp; 24914509 |
| &nbsp;&nbsp;&nbsp; Bank of Communications Co. Ltd., H <br> Shares<br>| 7558951 | &nbsp;&nbsp; 6495827 |
| Bank of Jiangsu Co. Ltd. | 1132600 | &nbsp;&nbsp; 1650579 |
| Baoshan Iron & Steel Co. Ltd., A Shares | 1348300 | &nbsp;&nbsp; 1411102 |
| Beijing Enterprises Holdings Ltd. | 312408 | &nbsp;&nbsp; 1415634 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **China-(continued)** | **China-(continued)** | **China-(continued)** |
| BOC Hong Kong (Holdings) Ltd. | 1174912 | &nbsp;&nbsp; $6188977 |
| BOE Technology Group Co. Ltd., A Shares | 3885100 | &nbsp;&nbsp; 2443789 |
| BYD Co. Ltd., H Shares | 378995 | &nbsp;&nbsp; 4726332 |
| BYD Electronic International Co. Ltd.<sup>(c)</sup> | 299872 | &nbsp;&nbsp; 1280787 |
| CGN Power Co. Ltd., H Shares<sup>(b)(c)</sup> | 5231670 | &nbsp;&nbsp; 2182148 |
| &nbsp;&nbsp;&nbsp; China Cinda Asset Management Co. Ltd., H <br> Shares<sup>(c)</sup><br>| 11269744 | &nbsp;&nbsp; 1918255 |
| China CITIC Bank Corp. Ltd., H Shares | 6213052 | &nbsp;&nbsp; 5788566 |
| China Coal Energy Co. Ltd., H Shares | 1393910 | &nbsp;&nbsp; 2040715 |
| &nbsp;&nbsp;&nbsp; China Communications Services Corp. Ltd., <br> H Shares<br>| 1486320 | &nbsp;&nbsp; 902942 |
| China Construction Bank Corp., H Shares | 52189380 | &nbsp;&nbsp; 52713399 |
| &nbsp;&nbsp;&nbsp; China Energy Engineering Corp. Ltd., H <br> Shares<br>| 10701917 | &nbsp;&nbsp; 1574647 |
| China Everbright Bank Co. Ltd., H Shares | 9641248 | &nbsp;&nbsp; 4019863 |
| China Everbright Environment Group Ltd. | 2813057 | &nbsp;&nbsp; 1810507 |
| China Hongqiao Group Ltd. | 1339534 | &nbsp;&nbsp; 6128472 |
| &nbsp;&nbsp;&nbsp; China International Marine Containers <br> Group Co. Ltd., H Shares<br>| 1579892 | &nbsp;&nbsp; 1796915 |
| China Life Insurance Co. Ltd., H Shares | 1253640 | &nbsp;&nbsp; 5580713 |
| China Mengniu Dairy Co. Ltd. | 1469053 | &nbsp;&nbsp; 3068882 |
| China Merchants Bank Co. Ltd., H Shares | 1986772 | &nbsp;&nbsp; 12142106 |
| &nbsp;&nbsp;&nbsp; China Minsheng Banking Corp. Ltd., H <br> Shares<br>| 14143707 | &nbsp;&nbsp; 7039691 |
| &nbsp;&nbsp;&nbsp; China National Building Material Co. Ltd., H <br> Shares<br>| 4499068 | &nbsp;&nbsp; 3237168 |
| China Overseas Land & Investment Ltd. | 3651914 | &nbsp;&nbsp; 6547028 |
| &nbsp;&nbsp;&nbsp; China Pacific Insurance (Group) Co. Ltd., H <br> Shares<br>| 1263672 | &nbsp;&nbsp; 6366866 |
| &nbsp;&nbsp;&nbsp; China Petroleum & Chemical Corp., H <br> Shares<br>| 29126492 | &nbsp;&nbsp; 20051156 |
| China Railway Group Ltd., H Shares<sup>(c)</sup> | 8875628 | &nbsp;&nbsp; 5123472 |
| China Resources Gas Group Ltd.<sup>(c)</sup> | 509123 | &nbsp;&nbsp; 1401099 |
| China Resources Land Ltd. | 1839304 | &nbsp;&nbsp; 7205273 |
| &nbsp;&nbsp;&nbsp; China Resources Pharmaceutical Group <br> Ltd.<sup>(b)</sup><br>| 1864416 | &nbsp;&nbsp; 1085763 |
| &nbsp;&nbsp;&nbsp; China Resources Power Holdings Co. <br> Ltd.<sup>(c)</sup><br>| 1020955 | &nbsp;&nbsp; 2326269 |
| &nbsp;&nbsp;&nbsp; China Shenhua Energy Co. Ltd., H <br> Shares<sup>(c)</sup><br>| 1557520 | &nbsp;&nbsp; 8572282 |
| &nbsp;&nbsp;&nbsp; China State Construction Engineering Corp. <br> Ltd., A Shares<br>| 5162922 | &nbsp;&nbsp; 3744227 |
| &nbsp;&nbsp;&nbsp; China State Construction International <br> Holdings Ltd.<br>| 838432 | &nbsp;&nbsp; 1007442 |
| China Taiping Insurance Holdings Co. Ltd. | 929500 | &nbsp;&nbsp; 3046751 |
| China Tower Corp. Ltd., H Shares<sup>(b)</sup> | 2222747 | &nbsp;&nbsp; 3199020 |
| &nbsp;&nbsp;&nbsp; China United Network Communications <br> Ltd., A Shares<br>| 2114800 | &nbsp;&nbsp; 1555139 |
| China Vanke Co. Ltd., H Shares<sup>(a)(c)</sup> | 7644472 | &nbsp;&nbsp; 3715712 |
| &nbsp;&nbsp;&nbsp; China Yongda Automobiles Services <br> Holdings Ltd.<br>| 1447204 | &nbsp;&nbsp; 289520 |
| China Zheshang Bank Co. Ltd., H Shares | 5343528 | &nbsp;&nbsp; 1712155 |
| &nbsp;&nbsp;&nbsp; Chongqing Rural Commercial Bank Co. Ltd., <br> H Shares<br>| 2066175 | &nbsp;&nbsp; 1542980 |
| CITIC Ltd. | 3828111 | &nbsp;&nbsp; 6119893 |
| CITIC Securities Co. Ltd., H Shares | 1065286 | &nbsp;&nbsp; 3987844 |
| CMOC Group Ltd., H Shares | 1317828 | &nbsp;&nbsp; 3704980 |
| &nbsp;&nbsp;&nbsp; Contemporary Amperex Technology Co. <br> Ltd., A Shares<br>| 33700 | &nbsp;&nbsp; 1700405 |
| &nbsp;&nbsp;&nbsp; COSCO SHIPPING Holdings Co. Ltd., H <br> Shares<sup>(c)</sup><br>| 2730936 | &nbsp;&nbsp; 4799626 |
| Country Garden Services Holdings Co. Ltd. | 1852029 | &nbsp;&nbsp; 1531873 |

---

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

------

**Invesco RAFI Emerging Markets ETF (PXH)—(continued)**

January 31, 2026

*(Unaudited)*

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **China-(continued)** | **China-(continued)** | **China-(continued)** |
| CRRC Corp. Ltd., H Shares | 3547668 | &nbsp;&nbsp; $2636254 |
| CSPC Pharmaceutical Group Ltd.<sup>(c)</sup> | 3125017 | &nbsp;&nbsp; 3834750 |
| Daqo New Energy Corp., ADR<sup>(a)</sup> | 90952 | &nbsp;&nbsp; 2248333 |
| &nbsp;&nbsp;&nbsp; Dongfeng Motor Group Co. Ltd., H <br> Shares<sup>(a)</sup><br>| 3157176 | &nbsp;&nbsp; 3651007 |
| ENN Energy Holdings Ltd. | 388080 | &nbsp;&nbsp; 3341908 |
| Fosun International Ltd. | 797820 | &nbsp;&nbsp; 424593 |
| Geely Automobile Holdings Ltd. | 1862412 | &nbsp;&nbsp; 3834942 |
| Gree Electric Appliances, Inc. of Zhuhai | 351000 | &nbsp;&nbsp; 1955688 |
| Guangdong Investment Ltd. | 1579752 | &nbsp;&nbsp; 1494018 |
| Haier Smart Home Co. Ltd., H Shares | 1441755 | &nbsp;&nbsp; 4754523 |
| Hello Group, Inc., ADR<sup>(c)</sup> | 154217 | &nbsp;&nbsp; 1051760 |
| &nbsp;&nbsp;&nbsp; Huaneng Power International, Inc., H <br> Shares<br>| 2202129 | &nbsp;&nbsp; 1606074 |
| Huatai Securities Co. Ltd., H Shares<sup>(b)</sup> | 687440 | &nbsp;&nbsp; 1639542 |
| Huaxia Bank Co. Ltd., A Shares | 1461792 | &nbsp;&nbsp; 1333808 |
| &nbsp;&nbsp;&nbsp; Industrial & Commercial Bank of China Ltd., <br> H Shares<br>| 34963424 | &nbsp;&nbsp; 29010970 |
| Industrial Bank Co. Ltd., A Shares | 1954326 | &nbsp;&nbsp; 5258191 |
| iQIYI, Inc., ADR<sup>(a)(c)</sup> | 964460 | &nbsp;&nbsp; 2006077 |
| JD.com, Inc., ADR<sup>(c)</sup> | 840058 | &nbsp;&nbsp; 23924852 |
| Jiangxi Copper Co. Ltd., H Shares | 1583263 | &nbsp;&nbsp; 9461611 |
| JinkoSolar Holding Co. Ltd., ADR<sup>(c)</sup> | 72982 | &nbsp;&nbsp; 1870529 |
| KE Holdings, Inc., ADR<sup>(c)</sup> | 202451 | &nbsp;&nbsp; 3789883 |
| Kuaishou Technology<sup>(b)</sup> | 234739 | &nbsp;&nbsp; 2399092 |
| Kunlun Energy Co. Ltd. | 2150583 | &nbsp;&nbsp; 2204127 |
| Kweichow Moutai Co. Ltd., A Shares | 9200 | &nbsp;&nbsp; 1854637 |
| Lenovo Group Ltd.<sup>(c)</sup> | 3849184 | &nbsp;&nbsp; 4338261 |
| Li Auto, Inc., A Shares<sup>(a)(c)</sup> | 158360 | &nbsp;&nbsp; 1323816 |
| Li Ning Co. Ltd. | 935646 | &nbsp;&nbsp; 2447448 |
| Longfor Group Holdings Ltd.<sup>(b)(c)</sup> | 2869172 | &nbsp;&nbsp; 3774343 |
| Lufax Holding Ltd., ADR<sup>(a)(c)</sup> | 513012 | &nbsp;&nbsp; 1364612 |
| Meituan, B Shares<sup>(a)(b)</sup> | 567748 | &nbsp;&nbsp; 7020932 |
| &nbsp;&nbsp;&nbsp; Metallurgical Corp. of China Ltd., H <br> Shares<sup>(c)</sup><br>| 7493038 | &nbsp;&nbsp; 1773190 |
| Midea Group Co. Ltd., A Shares | 319800 | &nbsp;&nbsp; 3571731 |
| NetEase, Inc. | 298363 | &nbsp;&nbsp; 7738955 |
| &nbsp;&nbsp;&nbsp; New China Life Insurance Co. Ltd., H <br> Shares<br>| 322419 | &nbsp;&nbsp; 2622534 |
| NIO, Inc., ADR<sup>(a)(c)</sup> | 472980 | &nbsp;&nbsp; 2223006 |
| PDD Holdings, Inc., ADR<sup>(a)</sup> | 86157 | &nbsp;&nbsp; 8706165 |
| &nbsp;&nbsp;&nbsp; People's Insurance Co. (Group) of China <br> Ltd. (The), H Shares<br>| 2779724 | &nbsp;&nbsp; 2417799 |
| PetroChina Co. Ltd., H Shares | 17481687 | &nbsp;&nbsp; 20773920 |
| &nbsp;&nbsp;&nbsp; PICC Property & Casualty Co. Ltd., H <br> Shares<br>| 2947166 | &nbsp;&nbsp; 6103092 |
| Ping An Bank Co. Ltd., A Shares | 1079300 | &nbsp;&nbsp; 1682118 |
| &nbsp;&nbsp;&nbsp; Ping An Insurance (Group) Co. of China <br> Ltd., H Shares<sup>(c)</sup><br>| 4030696 | &nbsp;&nbsp; 37397612 |
| &nbsp;&nbsp;&nbsp; Poly Developments and Holdings Group Co. <br> Ltd., A Shares<br>| 1857800 | &nbsp;&nbsp; 1820377 |
| &nbsp;&nbsp;&nbsp; Postal Savings Bank of China Co. Ltd., H <br> Shares<sup>(b)</sup><br>| 6853830 | &nbsp;&nbsp; 4470090 |
| &nbsp;&nbsp;&nbsp; Shanghai Pudong Development Bank Co. <br> Ltd., A Shares<br>| 2166405 | &nbsp;&nbsp; 3128766 |
| &nbsp;&nbsp;&nbsp; Shenzhou International Group Holdings <br> Ltd.<br>| 214191 | &nbsp;&nbsp; 1704062 |
| Sinopharm Group Co. Ltd., H Shares | 1049573 | &nbsp;&nbsp; 2801377 |
| Sunac China Holdings Ltd.<sup>(a)(c)</sup> | 12436132 | &nbsp;&nbsp; 1925991 |
| &nbsp;&nbsp;&nbsp; Sunny Optical Technology Group Co. <br> Ltd.<sup>(c)</sup><br>| 186525 | &nbsp;&nbsp; 1495190 |
| Tencent Holdings Ltd. | 593020 | &nbsp;&nbsp; 45594597 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **China-(continued)** | **China-(continued)** | **China-(continued)** |
| Tencent Music Entertainment Group, ADR | 85937 | &nbsp;&nbsp; $1442023 |
| Tianneng Power International Ltd. | 1165388 | &nbsp;&nbsp; 1090911 |
| Trip.com Group Ltd. | 69804 | &nbsp;&nbsp; 4285582 |
| Vipshop Holdings Ltd., ADR<sup>(c)</sup> | 297066 | &nbsp;&nbsp; 5082799 |
| Weichai Power Co. Ltd., H Shares | 1377433 | &nbsp;&nbsp; 4670424 |
| Wuxi Biologics (Cayman), Inc.<sup>(a)(b)</sup> | 431879 | &nbsp;&nbsp; 2044432 |
| Xiaomi Corp., B Shares<sup>(a)(b)</sup> | 1635552 | &nbsp;&nbsp; 7405715 |
| &nbsp;&nbsp;&nbsp; Yankuang Energy Group Co. Ltd., H <br> Shares<sup>(c)</sup><br>| 2186645 | &nbsp;&nbsp; 3186771 |
| Yum China Holdings, Inc.<sup>(c)</sup> | 90829 | &nbsp;&nbsp; 4488769 |
| Zhongsheng Group Holdings Ltd. | 1363924 | &nbsp;&nbsp; 2032590 |
| Zijin Mining Group Co. Ltd., H Shares | 1400869 | &nbsp;&nbsp; 7306408 |
| ZTE Corp., H Shares<sup>(c)</sup> | 593908 | &nbsp;&nbsp; 2149274 |
| ZTO Express (Cayman), Inc. | 109816 | &nbsp;&nbsp; 2425500 |
|  |  | &nbsp;&nbsp; 730749559 |
| **Hong Kong-0.12%** | **Hong Kong-0.12%** | **Hong Kong-0.12%** |
| Orient Overseas International Ltd.<sup>(c)</sup> | 141412 | &nbsp;&nbsp; 2317489 |
| **India-9.69%** | **India-9.69%** | **India-9.69%** |
| Axis Bank Ltd. | 415708 | &nbsp;&nbsp; 6202089 |
| Bajaj Auto Ltd. | 15063 | &nbsp;&nbsp; 1573124 |
| Bajaj Finance Ltd. | 132005 | &nbsp;&nbsp; 1335543 |
| Bajaj Finserv Ltd. | 61652 | &nbsp;&nbsp; 1310159 |
| Bank of Baroda | 544989 | &nbsp;&nbsp; 1776024 |
| Bharat Petroleum Corp. Ltd. | 1412499 | &nbsp;&nbsp; 5599923 |
| Bharti Airtel Ltd. | 169338 | &nbsp;&nbsp; 3631787 |
| Cipla Ltd. | 82957 | &nbsp;&nbsp; 1195574 |
| Coal India Ltd. | 597744 | &nbsp;&nbsp; 2867308 |
| Dr. Reddy's Laboratories Ltd. | 99587 | &nbsp;&nbsp; 1317702 |
| GAIL (India) Ltd. | 1435459 | &nbsp;&nbsp; 2614918 |
| Grasim Industries Ltd. | 85926 | &nbsp;&nbsp; 2637016 |
| HCL Technologies Ltd. | 176529 | &nbsp;&nbsp; 3257423 |
| HDFC Bank Ltd. | 1197693 | &nbsp;&nbsp; 12110204 |
| Hero MotoCorp Ltd. | 30141 | &nbsp;&nbsp; 1815461 |
| Hindalco Industries Ltd. | 583219 | &nbsp;&nbsp; 6070908 |
| Hindustan Petroleum Corp. Ltd. | 733116 | &nbsp;&nbsp; 3402819 |
| Hindustan Unilever Ltd. | 76160 | &nbsp;&nbsp; 1966266 |
| ICICI Bank Ltd. | 612902 | &nbsp;&nbsp; 9035786 |
| Indian Oil Corp. Ltd. | 2294956 | &nbsp;&nbsp; 4075670 |
| IndusInd Bank Ltd.<sup>(a)</sup> | 209305 | &nbsp;&nbsp; 2041559 |
| Infosys Ltd. | 612605 | &nbsp;&nbsp; 10957227 |
| ITC Ltd. | 1194654 | &nbsp;&nbsp; 4187780 |
| JSW Steel Ltd. | 180450 | &nbsp;&nbsp; 2371949 |
| Kotak Mahindra Bank Ltd. | 655744 | &nbsp;&nbsp; 2910212 |
| Kwality Wall's (India) Ltd. | 74447 | &nbsp;&nbsp; 32534 |
| Larsen & Toubro Ltd. | 123278 | &nbsp;&nbsp; 5274737 |
| Mahindra & Mahindra Ltd. | 84837 | &nbsp;&nbsp; 3167791 |
| Maruti Suzuki India Ltd. | 17331 | &nbsp;&nbsp; 2753348 |
| NTPC Ltd. | 1273180 | &nbsp;&nbsp; 4933012 |
| Oil & Natural Gas Corp. Ltd. | 1872482 | &nbsp;&nbsp; 5489425 |
| Petronet LNG Ltd. | 363550 | &nbsp;&nbsp; 1146587 |
| Power Finance Corp. Ltd. | 576164 | &nbsp;&nbsp; 2379499 |
| Power Grid Corp. of India Ltd. | 1004803 | &nbsp;&nbsp; 2804931 |
| Rajesh Exports Ltd.<sup>(a)</sup> | 95327 | &nbsp;&nbsp; 168551 |
| REC Ltd. | 363034 | &nbsp;&nbsp; 1439011 |
| Reliance Industries Ltd. | 1151208 | &nbsp;&nbsp; 17492531 |
| Shriram Finance Ltd. | 281802 | &nbsp;&nbsp; 3128158 |
| State Bank of India | 630364 | &nbsp;&nbsp; 7388273 |
| Steel Authority of India Ltd. | 1152736 | &nbsp;&nbsp; 1887567 |
| Sun Pharmaceutical Industries Ltd. | 100151 | &nbsp;&nbsp; 1737973 |
| Tata Consultancy Services Ltd. | 140948 | &nbsp;&nbsp; 4793373 |
| Tata Motors Ltd.<sup>(a)</sup> | 337966 | &nbsp;&nbsp; 1684549 |

---

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

------

**Invesco RAFI Emerging Markets ETF (PXH)—(continued)**

January 31, 2026

*(Unaudited)*

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **India-(continued)** | **India-(continued)** | **India-(continued)** |
| Tata Motors Passenger Vehicles Ltd. | 492770 | &nbsp;&nbsp; $1877889 |
| Tata Steel Ltd. | 3204537 | &nbsp;&nbsp; 6689015 |
| Tech Mahindra Ltd. | 120012 | &nbsp;&nbsp; 2277112 |
| UltraTech Cement Ltd. | 10956 | &nbsp;&nbsp; 1514254 |
| UPL Ltd. | 176009 | &nbsp;&nbsp; 1348582 |
| Vedanta Ltd. | 662555 | &nbsp;&nbsp; 4900122 |
| Wipro Ltd. | 712144 | &nbsp;&nbsp; 1837468 |
|  |  | &nbsp;&nbsp; 184410723 |
| **Indonesia-1.22%** | **Indonesia-1.22%** | **Indonesia-1.22%** |
| PT Alamtri Resources (Indonesia) Tbk | 12088015 | &nbsp;&nbsp; 1588615 |
| PT Astra International Tbk | 6734279 | &nbsp;&nbsp; 2553446 |
| PT Bank Central Asia Tbk | 6289467 | &nbsp;&nbsp; 2778997 |
| PT Bank Mandiri (Persero) Tbk | 11869487 | &nbsp;&nbsp; 3415401 |
| PT Bank Negara Indonesia (Persero) Tbk | 5803126 | &nbsp;&nbsp; 1557588 |
| PT Bank Rakyat Indonesia (Persero) Tbk | 22364145 | &nbsp;&nbsp; 5076750 |
| PT Telkom Indonesia (Persero) Tbk | 24730426 | &nbsp;&nbsp; 5286386 |
| PT United Tractors Tbk | 636576 | &nbsp;&nbsp; 991695 |
|  |  | &nbsp;&nbsp; 23248878 |
| **Malaysia-0.94%** | **Malaysia-0.94%** | **Malaysia-0.94%** |
| Axiata Group Bhd. | 1034700 | &nbsp;&nbsp; 603277 |
| CIMB Group Holdings Bhd. | 1773200 | &nbsp;&nbsp; 3863295 |
| Genting Bhd. | 885300 | &nbsp;&nbsp; 641496 |
| Malayan Banking Bhd. | 1530900 | &nbsp;&nbsp; 4581799 |
| Petronas Chemicals Group Bhd. | 689200 | &nbsp;&nbsp; 565796 |
| Public Bank Bhd. | 2458800 | &nbsp;&nbsp; 3039061 |
| Sime Darby Bhd. | 1661500 | &nbsp;&nbsp; 909979 |
| Tenaga Nasional Bhd. | 1039700 | &nbsp;&nbsp; 3678579 |
|  |  | &nbsp;&nbsp; 17883282 |
| **Mexico-3.37%** | **Mexico-3.37%** | **Mexico-3.37%** |
| America Movil S.A.B. de C.V., Class B | 8485416 | &nbsp;&nbsp; 8809727 |
| Banco del Bajio S.A.<sup>(b)</sup> | 369959 | &nbsp;&nbsp; 1094927 |
| CEMEX S.A.B. de C.V., Series CPO<sup>(c)(d)</sup> | 7718388 | &nbsp;&nbsp; 9646316 |
| &nbsp;&nbsp;&nbsp; Coca-Cola FEMSA S.A.B. de C.V., <br> Series CPO<sup>(c)</sup><br>| 158551 | &nbsp;&nbsp; 1670603 |
| Fibra Uno Administracion S.A. de C.V.<sup>(c)</sup> | 1070966 | &nbsp;&nbsp; 1678034 |
| &nbsp;&nbsp;&nbsp; Fomento Economico Mexicano, S.A.B. de <br> C.V., Series CPO<sup>(c)(e)</sup><br>| 840255 | &nbsp;&nbsp; 8835102 |
| Grupo Bimbo S.A.B. de C.V., Series A<sup>(c)</sup> | 362831 | &nbsp;&nbsp; 1269605 |
| Grupo Comercial Chedraui S.A. de C.V.<sup>(c)</sup> | 92980 | &nbsp;&nbsp; 643040 |
| &nbsp;&nbsp;&nbsp; Grupo Financiero Banorte S.A.B. de C.V., <br> Class O<br>| 961003 | &nbsp;&nbsp; 10945141 |
| Grupo Mexico S.A.B. de C.V., Class B | 995871 | &nbsp;&nbsp; 11140184 |
| Grupo Televisa S.A.B., Series CPO<sup>(c)(f)</sup> | 1908502 | &nbsp;&nbsp; 1259719 |
| Orbia Advance Corp. S.A.B. de C.V.<sup>(a)(c)</sup> | 418918 | &nbsp;&nbsp; 447004 |
| Sigma Foods S.A.B. de C.V., Class A<sup>(c)</sup> | 1486652 | &nbsp;&nbsp; 1480053 |
| &nbsp;&nbsp;&nbsp; Wal-Mart de Mexico S.A.B. de C.V., <br> Series V<sup>(c)</sup><br>| 1607558 | &nbsp;&nbsp; 5139515 |
|  |  | &nbsp;&nbsp; 64058970 |
| **Romania-0.10%** | **Romania-0.10%** | **Romania-0.10%** |
| NEPI Rockcastle N.V.<sup>(a)</sup> | 202177 | &nbsp;&nbsp; 1854498 |
| **Russia-0.00%** | **Russia-0.00%** | **Russia-0.00%** |
| Aeroflot PJSC<sup>(a)(g)</sup> | 1684800 | &nbsp;&nbsp; 0 |
| Alrosa PJSC<sup>(a)(g)</sup> | 1976600 | &nbsp;&nbsp; 0 |
| Gazprom PJSC<sup>(a)(g)</sup> | 9643940 | &nbsp;&nbsp; 0 |
| GMK Norilskiy Nickel PAO<sup>(a)(g)</sup> | 2015200 | &nbsp;&nbsp; 0 |
| Inter RAO UES PJSC<sup>(a)(g)</sup> | 29081146 | &nbsp;&nbsp; 0 |
| Lukoil PJSC<sup>(a)(g)</sup> | 261775 | &nbsp;&nbsp; 0 |
| Magnit PJSC<sup>(a)(g)</sup> | 55179 | &nbsp;&nbsp; 0 |
| Mobile TeleSystems PJSC<sup>(a)(g)</sup> | 921186 | &nbsp;&nbsp; 0 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Russia-(continued)** | **Russia-(continued)** | **Russia-(continued)** |
| Moscow Exchange MICEX-RTS PJSC<sup>(a)(g)</sup> | 550555 | &nbsp;&nbsp; $0 |
| Novatek PJSC<sup>(a)(g)</sup> | 130598 | &nbsp;&nbsp; 0 |
| Novolipetsk Steel PJSC<sup>(a)(g)</sup> | 795328 | &nbsp;&nbsp; 0 |
| Rosneft Oil Co. PJSC<sup>(a)(g)</sup> | 1054960 | &nbsp;&nbsp; 0 |
| Sberbank of Russia PJSC<sup>(a)(g)</sup> | 7562894 | &nbsp;&nbsp; 0 |
| Severstal PAO<sup>(a)(g)</sup> | 147196 | &nbsp;&nbsp; 0 |
| Sistema AFK PAO<sup>(a)(g)</sup> | 3408447 | &nbsp;&nbsp; 0 |
| Surgutneftegas PAO<sup>(a)(g)</sup> | 3493738 | &nbsp;&nbsp; 0 |
| &nbsp;&nbsp;&nbsp; Surgutneftegas PAO, Preference <br> Shares<sup>(a)(g)</sup><br>| 3804484 | &nbsp;&nbsp; 0 |
| Tatneft PJSC<sup>(a)(g)</sup> | 753855 | &nbsp;&nbsp; 0 |
| Tatneft PJSC, Preference Shares<sup>(a)(g)</sup> | 74068 | &nbsp;&nbsp; 0 |
| VTB Bank PJSC<sup>(a)(g)</sup> | 712692 | &nbsp;&nbsp; 0 |
|  |  | &nbsp;&nbsp; 0 |
| **Saudi Arabia-2.27%** | **Saudi Arabia-2.27%** | **Saudi Arabia-2.27%** |
| Al Rajhi Bank | 140851 | &nbsp;&nbsp; 4022185 |
| Banque Saudi Fransi | 307456 | &nbsp;&nbsp; 1479973 |
| Riyad Bank | 289677 | &nbsp;&nbsp; 2173928 |
| SABIC Agri-Nutrients Co. | 49110 | &nbsp;&nbsp; 1636201 |
| Saudi Arabian Mining Co.<sup>(a)</sup> | 123560 | &nbsp;&nbsp; 2510487 |
| Saudi Arabian Oil Co.<sup>(b)</sup> | 1761405 | &nbsp;&nbsp; 12108296 |
| Saudi Awwal Bank | 188936 | &nbsp;&nbsp; 1795266 |
| Saudi Basic Industries Corp. | 253302 | &nbsp;&nbsp; 3838962 |
| Saudi Electricity Co. | 231653 | &nbsp;&nbsp; 889307 |
| Saudi National Bank (The) | 538824 | &nbsp;&nbsp; 6441844 |
| Saudi Telecom Co. | 530086 | &nbsp;&nbsp; 6292540 |
|  |  | &nbsp;&nbsp; 43188989 |
| **South Africa-5.14%** | **South Africa-5.14%** | **South Africa-5.14%** |
| Absa Group Ltd. | 387856 | &nbsp;&nbsp; 6155968 |
| Aspen Pharmacare Holdings Ltd. | 198871 | &nbsp;&nbsp; 1332727 |
| Bid Corp. Ltd. | 95798 | &nbsp;&nbsp; 2410629 |
| Bidvest Group Ltd. (The) | 135898 | &nbsp;&nbsp; 1980654 |
| E Media Holdings Ltd.<sup>(c)</sup> | 12095 | &nbsp;&nbsp; 1678 |
| Exxaro Resources Ltd.<sup>(c)</sup> | 140883 | &nbsp;&nbsp; 1617629 |
| FirstRand Ltd. | 1496666 | &nbsp;&nbsp; 8598647 |
| Gold Fields Ltd. | 122903 | &nbsp;&nbsp; 6122186 |
| Growthpoint Properties Ltd. | 1575180 | &nbsp;&nbsp; 1732728 |
| Impala Platinum Holdings Ltd. | 550832 | &nbsp;&nbsp; 10341517 |
| MTN Group Ltd. | 787213 | &nbsp;&nbsp; 8805031 |
| Nedbank Group Ltd. | 229843 | &nbsp;&nbsp; 3791230 |
| Old Mutual Ltd. | 2414365 | &nbsp;&nbsp; 2333942 |
| Sanlam Ltd. | 527494 | &nbsp;&nbsp; 3328513 |
| Sappi Ltd.<sup>(c)</sup> | 460669 | &nbsp;&nbsp; 512387 |
| Sasol Ltd.<sup>(a)</sup> | 852455 | &nbsp;&nbsp; 6064779 |
| Shoprite Holdings Ltd. | 139806 | &nbsp;&nbsp; 2323379 |
| Sibanye Stillwater Ltd.<sup>(a)(c)</sup> | 2074028 | &nbsp;&nbsp; 9092454 |
| Standard Bank Group Ltd. | 463938 | &nbsp;&nbsp; 8588047 |
| Thungela Resources Ltd.<sup>(c)</sup> | 164227 | &nbsp;&nbsp; 1014647 |
| Valterra Platinum Ltd. | 106205 | &nbsp;&nbsp; 9611492 |
| Vodacom Group Ltd. | 213829 | &nbsp;&nbsp; 1986735 |
|  |  | &nbsp;&nbsp; 97746999 |
| **Taiwan-20.59%** | **Taiwan-20.59%** | **Taiwan-20.59%** |
| Acer, Inc. | 2032000 | &nbsp;&nbsp; 1614674 |
| ASE Technology Holding Co. Ltd. | 1272000 | &nbsp;&nbsp; 11825924 |
| Asia Cement Corp. | 1054000 | &nbsp;&nbsp; 1176063 |
| Asustek Computer, Inc. | 300600 | &nbsp;&nbsp; 4722358 |
| AUO Corp.<sup>(a)</sup> | 5276244 | &nbsp;&nbsp; 2285307 |
| Catcher Technology Co. Ltd. | 328000 | &nbsp;&nbsp; 2094817 |
| Cathay Financial Holding Co. Ltd. | 2717919 | &nbsp;&nbsp; 6475395 |
| Chailease Holding Co. Ltd. | 616861 | &nbsp;&nbsp; 2033071 |

---

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

------

**Invesco RAFI Emerging Markets ETF (PXH)—(continued)**

January 31, 2026

*(Unaudited)*

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Taiwan-(continued)** | **Taiwan-(continued)** | **Taiwan-(continued)** |
| China Steel Corp. | 4193632 | &nbsp;&nbsp; $2759181 |
| Chunghwa Telecom Co. Ltd. | 1152039 | &nbsp;&nbsp; 4885158 |
| Compal Electronics, Inc. | 3758000 | &nbsp;&nbsp; 3878512 |
| CTBC Financial Holding Co. Ltd. | 4462000 | &nbsp;&nbsp; 7188932 |
| Delta Electronics, Inc. | 276000 | &nbsp;&nbsp; 10532808 |
| E.Sun Financial Holding Co. Ltd. | 2215751 | &nbsp;&nbsp; 2346334 |
| Eva Airways Corp. | 1188000 | &nbsp;&nbsp; 1406162 |
| Evergreen Marine Corp. Taiwan Ltd. | 1608000 | &nbsp;&nbsp; 9497169 |
| Far Eastern New Century Corp. | 1443000 | &nbsp;&nbsp; 1270539 |
| &nbsp;&nbsp;&nbsp; Far EasTone Telecommunications Co. <br> Ltd.<sup>(a)</sup><br>| 531000 | &nbsp;&nbsp; 1493768 |
| First Financial Holding Co. Ltd. | 2526314 | &nbsp;&nbsp; 2306318 |
| Formosa Chemicals & Fibre Corp. | 2450000 | &nbsp;&nbsp; 3279751 |
| Formosa Petrochemical Corp. | 1071000 | &nbsp;&nbsp; 1819703 |
| Formosa Plastics Corp. | 3720280 | &nbsp;&nbsp; 5573050 |
| Fubon Financial Holding Co. Ltd. | 2150141 | &nbsp;&nbsp; 6174304 |
| Hon Hai Precision Industry Co. Ltd. | 7123930 | &nbsp;&nbsp; 49243606 |
| Hua Nan Financial Holdings Co. Ltd. | 1662740 | &nbsp;&nbsp; 1744264 |
| Innolux Corp.<sup>(a)</sup> | 8698444 | &nbsp;&nbsp; 5967594 |
| Inventec Corp. | 1645000 | &nbsp;&nbsp; 2335085 |
| KGI Financial Holding Co. Ltd. | 5444070 | &nbsp;&nbsp; 3112950 |
| Largan Precision Co. Ltd. | 24000 | &nbsp;&nbsp; 1829216 |
| Lite-On Technology Corp. | 646313 | &nbsp;&nbsp; 3322167 |
| MediaTek, Inc. | 337600 | &nbsp;&nbsp; 18726853 |
| Mega Financial Holding Co. Ltd. | 2449985 | &nbsp;&nbsp; 3012625 |
| Micro-Star International Co. Ltd. | 416000 | &nbsp;&nbsp; 1186829 |
| Nan Ya Plastics Corp. | 2861940 | &nbsp;&nbsp; 6841693 |
| Novatek Microelectronics Corp. | 223000 | &nbsp;&nbsp; 2646031 |
| Pegatron Corp. | 1029260 | &nbsp;&nbsp; 2269724 |
| Pou Chen Corp. | 1911000 | &nbsp;&nbsp; 1847141 |
| Powertech Technology, Inc. | 373000 | &nbsp;&nbsp; 2953623 |
| Quanta Computer, Inc. | 609000 | &nbsp;&nbsp; 5361132 |
| Realtek Semiconductor Corp. | 144000 | &nbsp;&nbsp; 2203170 |
| &nbsp;&nbsp;&nbsp; Shanghai Commercial & Savings Bank Ltd. <br> (The)<br>| 994000 | &nbsp;&nbsp; 1245135 |
| SinoPac Financial Holdings Co. Ltd. | 2317355 | &nbsp;&nbsp; 2099023 |
| Synnex Technology International Corp. | 756000 | &nbsp;&nbsp; 1566655 |
| &nbsp;&nbsp;&nbsp; Taiwan Cooperative Financial Holding Co. <br> Ltd.<br>| 1567910 | &nbsp;&nbsp; 1171771 |
| Taiwan Mobile Co. Ltd. | 477000 | &nbsp;&nbsp; 1599398 |
| &nbsp;&nbsp;&nbsp; Taiwan Semiconductor Manufacturing Co. <br> Ltd.<br>| 2006000 | &nbsp;&nbsp; 110923650 |
| TCC Group Holdings Co. Ltd. | 2731136 | &nbsp;&nbsp; 2285083 |
| TS Financial Holding Co. Ltd. | 5562000 | &nbsp;&nbsp; 3997497 |
| Unimicron Technology Corp. | 424570 | &nbsp;&nbsp; 5046789 |
| Uni-President Enterprises Corp. | 1342941 | &nbsp;&nbsp; 3055224 |
| United Microelectronics Corp. | 5313000 | &nbsp;&nbsp; 10571565 |
| Walsin Lihwa Corp. | 1982000 | &nbsp;&nbsp; 2712589 |
| Wan Hai Lines Ltd. | 779000 | &nbsp;&nbsp; 1824416 |
| Winbond Electronics Corp.<sup>(a)</sup> | 2169000 | &nbsp;&nbsp; 8576969 |
| Wistron Corp. | 1192875 | &nbsp;&nbsp; 4881720 |
| WPG Holdings Ltd. | 967000 | &nbsp;&nbsp; 1966690 |
| WT Microelectronics Co. Ltd. | 395000 | &nbsp;&nbsp; 1950082 |
| Yageo Corp. | 428160 | &nbsp;&nbsp; 3738000 |
| Yang Ming Marine Transport Corp. | 2416000 | &nbsp;&nbsp; 4099255 |
| Yuanta Financial Holding Co. Ltd. | 3231939 | &nbsp;&nbsp; 4402648 |
| Zhen Ding Technology Holding Ltd. | 436000 | &nbsp;&nbsp; 2686901 |
|  |  | &nbsp;&nbsp; 391644061 |
| **Thailand-2.86%** | **Thailand-2.86%** | **Thailand-2.86%** |
| Advanced Info Service PCL, NVDR | 163388 | &nbsp;&nbsp; 1812039 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Thailand-(continued)** | **Thailand-(continued)** | **Thailand-(continued)** |
| Bangkok Bank PCL, NVDR | 907703 | &nbsp;&nbsp; $4553497 |
| &nbsp;&nbsp;&nbsp; Bangkok Dusit Medical Services PCL, <br> NVDR<br>| 2206721 | &nbsp;&nbsp; 1407304 |
| Banpu PCL, NVDR | 10865513 | &nbsp;&nbsp; 1847756 |
| Charoen Pokphand Foods PCL, NVDR | 3221149 | &nbsp;&nbsp; 2110011 |
| CP ALL PCL, NVDR | 1254265 | &nbsp;&nbsp; 1729194 |
| Kasikornbank PCL, NVDR | 1014449 | &nbsp;&nbsp; 6058809 |
| Krung Thai Bank PCL, NVDR | 2177569 | &nbsp;&nbsp; 1954009 |
| PTT Exploration & Production PCL, NVDR | 815036 | &nbsp;&nbsp; 3186156 |
| PTT Global Chemical PCL, NVDR | 4341276 | &nbsp;&nbsp; 3406170 |
| PTT PCL, NVDR | 11887517 | &nbsp;&nbsp; 12832423 |
| SCB X PCL, NVDR | 1094369 | &nbsp;&nbsp; 4711038 |
| Siam Cement PCL (The), NVDR | 710328 | &nbsp;&nbsp; 4637966 |
| Thai Oil PCL, NVDR | 1843253 | &nbsp;&nbsp; 2506946 |
| TMBThanachart Bank PCL, NVDR | 24694114 | &nbsp;&nbsp; 1583050 |
|  |  | &nbsp;&nbsp; 54336368 |
| **Turkey-1.42%** | **Turkey-1.42%** | **Turkey-1.42%** |
| Akbank T.A.S. | 1586325 | &nbsp;&nbsp; 3392825 |
| BIM Birlesik Magazalar A.S. | 167728 | &nbsp;&nbsp; 2559331 |
| Eregli Demir ve Celik Fabrikalari T.A.S. | 4101855 | &nbsp;&nbsp; 2655044 |
| KOC Holding A.S. | 1103474 | &nbsp;&nbsp; 5277063 |
| Turk Hava Yollari AO | 437627 | &nbsp;&nbsp; 3060654 |
| Turkcell Iletisim Hizmetleri A.S. | 626639 | &nbsp;&nbsp; 1688646 |
| Turkiye Is Bankasi A.S., Class C | 5088532 | &nbsp;&nbsp; 1955884 |
| Turkiye Petrol Rafinerileri A.S. | 785041 | &nbsp;&nbsp; 4423219 |
| Yapi Ve Kredi Bankasi A.S.<sup>(a)</sup> | 2043854 | &nbsp;&nbsp; 1930162 |
|  |  | &nbsp;&nbsp; 26942828 |
| **United States-0.35%** | **United States-0.35%** | **United States-0.35%** |
| JBS N.V., BDR<sup>(a)</sup> | 425179 | &nbsp;&nbsp; 6686019 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks & Other Equity Interests <br>(Cost $1,399,560,099) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks & Other Equity Interests <br>(Cost $1,399,560,099) | &nbsp;&nbsp; 1894265597 |
| **Money Market Funds-0.55%** | **Money Market Funds-0.55%** | **Money Market Funds-0.55%** |
| &nbsp;&nbsp;&nbsp; Invesco Government & Agency Portfolio, <br> Institutional Class, 3.61%<sup>(h)(i)</sup> <br>(Cost $10,400,799)<br>| 10400799 | &nbsp;&nbsp; 10400799 |
| &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES <br>(excluding investments purchased with cash collateral <br> from securities on loan)-100.14% <br>(Cost $1,409,960,898) | &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES <br>(excluding investments purchased with cash collateral <br> from securities on loan)-100.14% <br>(Cost $1,409,960,898) | &nbsp;&nbsp; 1904666396 |
| **Investments Purchased with Cash Collateral from Securities** <br> **on Loan** | **Investments Purchased with Cash Collateral from Securities** <br> **on Loan** | **Investments Purchased with Cash Collateral from Securities** <br> **on Loan** |
| **Money Market Funds-5.01%** | **Money Market Funds-5.01%** | **Money Market Funds-5.01%** |
| &nbsp;&nbsp;&nbsp; Invesco Private Government Fund, <br> 3.65%<sup>(h)(i)(j)</sup><br>| 22015934 | &nbsp;&nbsp; 22015934 |
| Invesco Private Prime Fund, 3.80%<sup>(h)(i)(j)</sup> | 73210191 | &nbsp;&nbsp; 73232154 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Investments Purchased with Cash Collateral from <br> Securities on Loan <br>(Cost $95,248,088) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Investments Purchased with Cash Collateral from <br> Securities on Loan <br>(Cost $95,248,088) | &nbsp;&nbsp; 95248088 |
| &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES-105.15% <br>(Cost $1,505,208,986) | &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES-105.15% <br>(Cost $1,505,208,986) | &nbsp;&nbsp; 1999914484 |
| OTHER ASSETS LESS LIABILITIES-(5.15)% | OTHER ASSETS LESS LIABILITIES-(5.15)% | &nbsp;&nbsp; (97919026)<br>|
| NET ASSETS-100.00% | NET ASSETS-100.00% | &nbsp;&nbsp; $1901995458 |

---

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

------

**Invesco RAFI Emerging Markets ETF (PXH)—(continued)**

January 31, 2026

*(Unaudited)*

---

| |
|:---|
| Investment Abbreviations: |
| ADR-American Depositary Receipt |
| BDR-Brazilian Depositary Receipt |
| CPO-Certificates of Ordinary Participation |
| NVDR-Non-Voting Depositary Receipt |

---

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

---

| | |
|:---|:---|
| Notes to Schedule of Investments: | Notes to Schedule of Investments: |
| <sup>(a)</sup> | Non-income producing security. |
| <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 $49,847,403, which represented 2.62% 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> | Each CPO for Cemex S.A.B. de C.V. represents two Series A shares and one Series B share. |
| <sup>(e)</sup> | Each CPO for Fomento Economico Mexicano, S.A.B. de C.V. represents one Series B share and four Series D shares. |
| <sup>(f)</sup> | Each CPO for Grupo Televisa S.A.B. represents twenty-five Series A shares, twenty-two Series B shares, thirty-five Series D shares and thirty-five Series L <br> shares.<br>|
| <sup>(g)</sup> | Security valued using significant unobservable inputs (Level 3). See Note 1. |
| <sup>(h)</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; $13450994 | &nbsp;&nbsp;&nbsp; $86115493 | &nbsp;&nbsp;&nbsp; $(89165688)<br>| &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $10400799 | &nbsp;&nbsp;&nbsp; $125290 |
| **Investments** <br> **Purchased with Cash** <br> **Collateral from** <br> **Securities on Loan:**<br>|  |  |  |  |  |  |  |
| &nbsp;&nbsp; Invesco Private <br> Government Fund<br>| &nbsp;&nbsp;&nbsp; 12401431 | &nbsp;&nbsp;&nbsp; 48165596 | &nbsp;&nbsp;&nbsp; (38551093)<br>| &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; 22015934 | &nbsp;&nbsp;&nbsp; 156,245<br> \*<br>|
| &nbsp;&nbsp; Invesco Private Prime <br> Fund<br>| &nbsp;&nbsp;&nbsp; 32485891 | &nbsp;&nbsp;&nbsp; 103052275 | &nbsp;&nbsp;&nbsp; (62306012)<br>| &nbsp;&nbsp;&nbsp; 168 | &nbsp;&nbsp;&nbsp; (168)<br>| &nbsp;&nbsp;&nbsp; 73232154 | &nbsp;&nbsp;&nbsp; 428,160<br> \*<br>|
| &nbsp;&nbsp; Total | &nbsp;&nbsp;&nbsp; $58338316 | &nbsp;&nbsp;&nbsp; $237333364 | &nbsp;&nbsp;&nbsp; $(190022793)<br>| &nbsp;&nbsp;&nbsp; $168 | &nbsp;&nbsp;&nbsp; $(168)<br>| &nbsp;&nbsp;&nbsp; $105648887 | &nbsp;&nbsp;&nbsp; $709695 |

---

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

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

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Open Futures Contracts**<sup>(a)</sup>  | **Open Futures Contracts**<sup>(a)</sup>  | **Open Futures Contracts**<sup>(a)</sup>  | **Open Futures Contracts**<sup>(a)</sup>  | **Open Futures Contracts**<sup>(a)</sup>  | **Open Futures Contracts**<sup>(a)</sup>  |
| **Long Futures Contracts** | **Number of**<br> **Contracts**<br>| **Expiration**<br> **Month**<br>| **Notional**<br> **Value**<br>| **Value** | **Unrealized**<br> **Appreciation**<br>|
| **Equity Risk** |  |  |  |  |  |
| &nbsp;&nbsp; MSCI Emerging Markets Index | &nbsp;&nbsp;&nbsp; 90 | March-2026 | &nbsp;&nbsp;&nbsp; $6843600 | &nbsp;&nbsp;&nbsp; $540900 | &nbsp;&nbsp;&nbsp; $540900 |

---

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

<sup>(a)</sup> Futures contracts collateralized by $2,938,527 cash held with Morgan Stanley & Co. LLC, the futures commission merchant.

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 S&P Global Water Index ETF (CGW)**

January 31, 2026

*(Unaudited)*

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

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Common Stocks & Other Equity Interests-99.73%** | **Common Stocks & Other Equity Interests-99.73%** | **Common Stocks & Other Equity Interests-99.73%** |
| **Austria-0.64%** | **Austria-0.64%** | **Austria-0.64%** |
| Wienerberger AG | 198986 | &nbsp;&nbsp; $6601253 |
| **Brazil-11.39%** | **Brazil-11.39%** | **Brazil-11.39%** |
| &nbsp;&nbsp;&nbsp; Cia de Saneamento Basico do Estado de <br> Sao Paulo SABESP<br>| 3279814 | &nbsp;&nbsp; 88467378 |
| &nbsp;&nbsp;&nbsp; Cia de Saneamento de Minas Gerais <br> COPASA MG<br>| 1403500 | &nbsp;&nbsp; 13711840 |
| Cia De Sanena Do Parana, Series CPO | 1784846 | &nbsp;&nbsp; 15913631 |
|  |  | &nbsp;&nbsp; 118092849 |
| **China-1.58%** | **China-1.58%** | **China-1.58%** |
| &nbsp;&nbsp;&nbsp; Beijing Capital Eco-environment Protection <br> Group Co. Ltd., A Shares<br>| 3251300 | &nbsp;&nbsp; 1441293 |
| Beijing Enterprises Water Group Ltd. | 22806694 | &nbsp;&nbsp; 7853876 |
| &nbsp;&nbsp;&nbsp; Beijing Originwater Technology Co. Ltd., A <br> Shares<br>| 2140200 | &nbsp;&nbsp; 1241223 |
| &nbsp;&nbsp;&nbsp; Chengdu Xingrong Environment Co. Ltd., A <br> Shares<br>| 1762100 | &nbsp;&nbsp; 1855959 |
| China Lesso Group Holdings Ltd. | 1578712 | &nbsp;&nbsp; 1213182 |
| Jiangxi Hongcheng Environment. Co. Ltd. | 568900 | &nbsp;&nbsp; 789355 |
| Jingjin Equipment, Inc., A Shares | 166400 | &nbsp;&nbsp; 480274 |
| &nbsp;&nbsp;&nbsp; Zhongshan Public Utilities Group Co. Ltd., A <br> Shares<br>| 871100 | &nbsp;&nbsp; 1548841 |
|  |  | &nbsp;&nbsp; 16424003 |
| **Finland-0.49%** | **Finland-0.49%** | **Finland-0.49%** |
| Kemira OYJ<sup>(a)</sup> | 214544 | &nbsp;&nbsp; 5064573 |
| **India-1.55%** | **India-1.55%** | **India-1.55%** |
| Astral Ltd. | 336842 | &nbsp;&nbsp; 5412870 |
| ElectroSteel Castings Ltd. | 1437944 | &nbsp;&nbsp; 1111742 |
| Jain Irrigation Systems Ltd.<sup>(b)</sup> | 896049 | &nbsp;&nbsp; 356201 |
| Jindal Saw Ltd. | 418371 | &nbsp;&nbsp; 797277 |
| Supreme Industries Ltd. | 117728 | &nbsp;&nbsp; 4504872 |
| VA Tech Wabag Ltd. | 335616 | &nbsp;&nbsp; 3936177 |
|  |  | &nbsp;&nbsp; 16119139 |
| **Italy-0.82%** | **Italy-0.82%** | **Italy-0.82%** |
| Interpump Group S.p.A. | 146416 | &nbsp;&nbsp; 8525155 |
| **Japan-3.09%** | **Japan-3.09%** | **Japan-3.09%** |
| Kurita Water Industries Ltd. | 388557 | &nbsp;&nbsp; 19498538 |
| Nomura Micro Science Co. Ltd.<sup>(a)</sup> | 118048 | &nbsp;&nbsp; 2676262 |
| Organo Corp.<sup>(a)</sup> | 92700 | &nbsp;&nbsp; 9820055 |
|  |  | &nbsp;&nbsp; 31994855 |
| **Netherlands-1.03%** | **Netherlands-1.03%** | **Netherlands-1.03%** |
| Aalberts N.V. | 277312 | &nbsp;&nbsp; 10687016 |
| **Saudi Arabia-0.53%** | **Saudi Arabia-0.53%** | **Saudi Arabia-0.53%** |
| &nbsp;&nbsp;&nbsp; Alkhorayef Water and Power Technologies <br> Co.<br>| 94911 | &nbsp;&nbsp; 3130626 |
| &nbsp;&nbsp;&nbsp; Power and Water Utility Co. for Jubail and <br> Yanbu<sup>(b)</sup><br>| 276706 | &nbsp;&nbsp; 2393270 |
|  |  | &nbsp;&nbsp; 5523896 |
| **South Korea-0.53%** | **South Korea-0.53%** | **South Korea-0.53%** |
| Coway Co. Ltd.<sup>(a)(b)(c)</sup> | 95394 | &nbsp;&nbsp; 5519513 |
| **Switzerland-7.15%** | **Switzerland-7.15%** | **Switzerland-7.15%** |
| Belimo Holding AG | 17883 | &nbsp;&nbsp; 19636225 |
| Geberit AG | 50159 | &nbsp;&nbsp; 38450164 |
| Georg Fischer AG<sup>(a)</sup> | 140103 | &nbsp;&nbsp; 9374367 |
| Sulzer AG | 31132 | &nbsp;&nbsp; 6734058 |
|  |  | &nbsp;&nbsp; 74194814 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Taiwan-0.07%** | **Taiwan-0.07%** | **Taiwan-0.07%** |
| Kuo Toong International Co. Ltd. | 423000 | &nbsp;&nbsp; $690561 |
| **Thailand-0.10%** | **Thailand-0.10%** | **Thailand-0.10%** |
| Amata Corp. PCL, NVDR | 2079785 | &nbsp;&nbsp; 1033292 |
| **United Kingdom-9.61%** | **United Kingdom-9.61%** | **United Kingdom-9.61%** |
| Pennon Group PLC | 1856516 | &nbsp;&nbsp; 13955312 |
| Severn Trent PLC | 968417 | &nbsp;&nbsp; 39008119 |
| United Utilities Group PLC | 2717491 | &nbsp;&nbsp; 46671181 |
|  |  | &nbsp;&nbsp; 99634612 |
| **United States-61.15%** | **United States-61.15%** | **United States-61.15%** |
| Advanced Drainage Systems, Inc. | 260022 | &nbsp;&nbsp; 39533745 |
| American States Water Co. | 285785 | &nbsp;&nbsp; 20850873 |
| American Water Works Co., Inc. | 629004 | &nbsp;&nbsp; 81223286 |
| Badger Meter, Inc. | 107108 | &nbsp;&nbsp; 15699891 |
| California Water Service Group | 439898 | &nbsp;&nbsp; 19663441 |
| Consolidated Water Co. Ltd.<sup>(a)</sup> | 110546 | &nbsp;&nbsp; 4187482 |
| Core & Main, Inc., Class A<sup>(a)(b)</sup> | 519792 | &nbsp;&nbsp; 27736101 |
| Ecolab, Inc. | 148937 | &nbsp;&nbsp; 41998745 |
| Energy Recovery, Inc.<sup>(a)(b)</sup> | 192527 | &nbsp;&nbsp; 2808969 |
| Essential Utilities, Inc. | 1476229 | &nbsp;&nbsp; 57262923 |
| Franklin Electric Co., Inc. | 139122 | &nbsp;&nbsp; 13859334 |
| H2O America | 245810 | &nbsp;&nbsp; 12791952 |
| Hawkins, Inc. | 37961 | &nbsp;&nbsp; 4944420 |
| Lindsay Corp.<sup>(a)</sup> | 39268 | &nbsp;&nbsp; 4919102 |
| Middlesex Water Co. | 135370 | &nbsp;&nbsp; 7090681 |
| Montrose Environmental Group, Inc.<sup>(a)(b)</sup> | 121301 | &nbsp;&nbsp; 2702586 |
| Mueller Water Products, Inc., Class A | 568183 | &nbsp;&nbsp; 15380714 |
| Otter Tail Corp. | 76154 | &nbsp;&nbsp; 6789891 |
| Pentair PLC | 297378 | &nbsp;&nbsp; 31334720 |
| Select Water Solutions, Inc., Class A | 727969 | &nbsp;&nbsp; 8801145 |
| TETRA Technologies, Inc.<sup>(b)</sup> | 493659 | &nbsp;&nbsp; 5627713 |
| Valmont Industries, Inc. | 35799 | &nbsp;&nbsp; 15950602 |
| Veralto Corp. | 598546 | &nbsp;&nbsp; 59244083 |
| Watts Water Technologies, Inc., Class A | 99610 | &nbsp;&nbsp; 29814269 |
| Xylem, Inc. | 574147 | &nbsp;&nbsp; 79157647 |
| Zurn Elkay Water Solutions Corp. | 541329 | &nbsp;&nbsp; 24960680 |
|  |  | &nbsp;&nbsp; 634334995 |
| &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES <br>(excluding investments purchased with cash collateral <br> from securities on loan)-99.73% <br>(Cost $766,147,849) | &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES <br>(excluding investments purchased with cash collateral <br> from securities on loan)-99.73% <br>(Cost $766,147,849) | &nbsp;&nbsp; 1034440526 |
| **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-3.39%** | **Money Market Funds-3.39%** | **Money Market Funds-3.39%** |
| &nbsp;&nbsp;&nbsp; Invesco Private Government Fund, <br> 3.65%<sup>(d)(e)(f)</sup><br>| 9778449 | &nbsp;&nbsp; 9778449 |
| Invesco Private Prime Fund, 3.80%<sup>(d)(e)(f)</sup> | 25404095 | &nbsp;&nbsp; 25411716 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Investments Purchased with Cash Collateral from <br> Securities on Loan <br>(Cost $35,190,165) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Investments Purchased with Cash Collateral from <br> Securities on Loan <br>(Cost $35,190,165) | &nbsp;&nbsp; 35190165 |
| &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES-103.12% <br>(Cost $801,338,014) | &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES-103.12% <br>(Cost $801,338,014) | &nbsp;&nbsp; 1069630691 |
| OTHER ASSETS LESS LIABILITIES-(3.12)% | OTHER ASSETS LESS LIABILITIES-(3.12)% | &nbsp;&nbsp; (32363388)<br>|
| NET ASSETS-100.00% | NET ASSETS-100.00% | &nbsp;&nbsp; $1037267303 |

---

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

------

**Invesco S&P Global Water Index ETF (CGW)—(continued)**

January 31, 2026

*(Unaudited)*

Investment Abbreviations: <br> CPO-Certificates of Ordinary Participation <br> NVDR-Non-Voting Depositary Receipt

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

---

| | |
|:---|:---|
| Notes to Schedule of Investments: | Notes to Schedule of Investments: |
| <sup>(a)</sup> | All or a portion of this security was out on loan at January 31, 2026. |
| <sup>(b)</sup> | Non-income producing security. |
| <sup>(c)</sup> | Restricted security. The value of this security at January 31, 2026 represented less than 1% of the Fund's Net Assets. |
| <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** <br> **Affiliated Money** <br> **Market Funds:**<br>|  |  |  |  |  |  |  |
| &nbsp;&nbsp; Invesco Government & <br> Agency Portfolio, <br> Institutional Class<br>| &nbsp;&nbsp;&nbsp; $461168 | &nbsp;&nbsp;&nbsp; $17211689 | &nbsp;&nbsp;&nbsp; $(17672857)<br>| &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $6849 |
| **Investments** <br> **Purchased with Cash** <br> **Collateral from** <br> **Securities on Loan:**<br>|  |  |  |  |  |  |  |
| &nbsp;&nbsp; Invesco Private <br> Government Fund<br>| &nbsp;&nbsp;&nbsp; 8716512 | &nbsp;&nbsp;&nbsp; 30542369 | &nbsp;&nbsp;&nbsp; (29480432)<br>| &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; 9778449 | &nbsp;&nbsp;&nbsp; 96,206<br> \*<br>|
| &nbsp;&nbsp; Invesco Private Prime <br> Fund<br>| &nbsp;&nbsp;&nbsp; 22688796 | &nbsp;&nbsp;&nbsp; 69023148 | &nbsp;&nbsp;&nbsp; (66300227)<br>| &nbsp;&nbsp;&nbsp; 310 | &nbsp;&nbsp;&nbsp; (311)<br>| &nbsp;&nbsp;&nbsp; 25411716 | &nbsp;&nbsp;&nbsp; 253,732<br> \*<br>|
| &nbsp;&nbsp; Total | &nbsp;&nbsp;&nbsp; $31866476 | &nbsp;&nbsp;&nbsp; $116777206 | &nbsp;&nbsp;&nbsp; $(113453516)<br>| &nbsp;&nbsp;&nbsp; $310 | &nbsp;&nbsp;&nbsp; $(311)<br>| &nbsp;&nbsp;&nbsp; $35190165 | &nbsp;&nbsp;&nbsp; $356787 |

---

&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.

------

Schedule of Investments

**Invesco S&P International Developed Quality ETF (IDHQ)**

January 31, 2026

*(Unaudited)*

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

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Common Stocks & Other Equity Interests-99.78%** | **Common Stocks & Other Equity Interests-99.78%** | **Common Stocks & Other Equity Interests-99.78%** |
| **Australia-4.41%** | **Australia-4.41%** | **Australia-4.41%** |
| Aristocrat Leisure Ltd. | 68340 | &nbsp;&nbsp; $2554127 |
| Brambles Ltd. | 132691 | &nbsp;&nbsp; 2072147 |
| Computershare Ltd. | 57358 | &nbsp;&nbsp; 1310490 |
| Insurance Australia Group Ltd. | 219087 | &nbsp;&nbsp; 1162024 |
| JB Hi-Fi Ltd. | 12385 | &nbsp;&nbsp; 701986 |
| Medibank Pvt. Ltd. | 308958 | &nbsp;&nbsp; 997323 |
| Netwealth Group Ltd. | 27526 | &nbsp;&nbsp; 469209 |
| Pro Medicus Ltd. | 8398 | &nbsp;&nbsp; 1080104 |
| QBE Insurance Group Ltd. | 140818 | &nbsp;&nbsp; 1941661 |
| REA Group Ltd. | 7419 | &nbsp;&nbsp; 981362 |
| Rio Tinto PLC | 89390 | &nbsp;&nbsp; 8178689 |
| Wesfarmers Ltd. | 118795 | &nbsp;&nbsp; 6894211 |
| Yancoal Australia Ltd.<sup>(a)</sup> | 83652 | &nbsp;&nbsp; 336867 |
|  |  | &nbsp;&nbsp; 28680200 |
| **Austria-0.24%** | **Austria-0.24%** | **Austria-0.24%** |
| ANDRITZ AG | 6867 | &nbsp;&nbsp; 596319 |
| Strabag SE, BR | 3245 | &nbsp;&nbsp; 337243 |
| Verbund AG<sup>(a)</sup> | 8471 | &nbsp;&nbsp; 623819 |
|  |  | &nbsp;&nbsp; 1557381 |
| **Canada-3.53%** | **Canada-3.53%** | **Canada-3.53%** |
| AtkinsRealis Group, Inc. | 24733 | &nbsp;&nbsp; 1745364 |
| BCE, Inc. | 30576 | &nbsp;&nbsp; 794798 |
| Brookfield Asset Management Ltd., Class A | 49155 | &nbsp;&nbsp; 2455663 |
| Celestica, Inc.<sup>(b)</sup> | 12709 | &nbsp;&nbsp; 3591068 |
| Imperial Oil Ltd. | 15492 | &nbsp;&nbsp; 1573854 |
| Kinross Gold Corp. | 122871 | &nbsp;&nbsp; 3890786 |
| Lundin Gold, Inc. | 19213 | &nbsp;&nbsp; 1448335 |
| Rogers Communications, Inc., Class B | 40961 | &nbsp;&nbsp; 1554773 |
| Suncor Energy, Inc. | 110382 | &nbsp;&nbsp; 5866553 |
|  |  | &nbsp;&nbsp; 22921194 |
| **China-0.13%** | **China-0.13%** | **China-0.13%** |
| Budweiser Brewing Co. APAC Ltd.<sup>(a)(c)</sup> | 296794 | &nbsp;&nbsp; 292720 |
| Chow Tai Fook Jewellery Group Ltd.<sup>(a)</sup> | 285724 | &nbsp;&nbsp; 525291 |
|  |  | &nbsp;&nbsp; 818011 |
| **Denmark-0.63%** | **Denmark-0.63%** | **Denmark-0.63%** |
| Coloplast A/S, Class B | 12570 | &nbsp;&nbsp; 1075481 |
| Vestas Wind Systems A/S | 98168 | &nbsp;&nbsp; 2986585 |
|  |  | &nbsp;&nbsp; 4062066 |
| **Finland-1.74%** | **Finland-1.74%** | **Finland-1.74%** |
| Elisa OYJ | 13553 | &nbsp;&nbsp; 601693 |
| Fortum OYJ<sup>(a)</sup> | 37896 | &nbsp;&nbsp; 898441 |
| Kone OYJ, Class B | 50768 | &nbsp;&nbsp; 3661674 |
| Orion OYJ, Class B | 10688 | &nbsp;&nbsp; 887084 |
| Sampo OYJ | 267093 | &nbsp;&nbsp; 2989512 |
| Wartsila OYJ Abp | 56049 | &nbsp;&nbsp; 2280474 |
|  |  | &nbsp;&nbsp; 11318878 |
| **France-6.24%** | **France-6.24%** | **France-6.24%** |
| Airbus SE | 59478 | &nbsp;&nbsp; 13666895 |
| Bollore SE | 69101 | &nbsp;&nbsp; 395404 |
| Dassault Aviation S.A. | 1579 | &nbsp;&nbsp; 602474 |
| Hermes International S.C.A. | 3544 | &nbsp;&nbsp; 8557799 |
| Safran S.A. | 48418 | &nbsp;&nbsp; 17362099 |
|  |  | &nbsp;&nbsp; 40584671 |
| **Germany-6.94%** | **Germany-6.94%** | **Germany-6.94%** |
| adidas AG | 17045 | &nbsp;&nbsp; 3033104 |
| Allianz SE | 37905 | &nbsp;&nbsp; 16750966 |
| Deutsche Boerse AG | 17942 | &nbsp;&nbsp; 4559853 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Germany-(continued)** | **Germany-(continued)** | **Germany-(continued)** |
| Hannover Rueck SE | 6219 | &nbsp;&nbsp; $1764800 |
| &nbsp;&nbsp;&nbsp; Muenchener Rueckversicherungs-Gesellschaft <br> AG in Muenchen, Class R<br>| 13083 | &nbsp;&nbsp; 7958068 |
| Siemens Energy AG, Class A<sup>(b)</sup> | 59722 | &nbsp;&nbsp; 10212358 |
| Talanx AG | 6322 | &nbsp;&nbsp; 800291 |
|  |  | &nbsp;&nbsp; 45079440 |
| **Hong Kong-2.77%** | **Hong Kong-2.77%** | **Hong Kong-2.77%** |
| Cathay Pacific Airways Ltd. | 197195 | &nbsp;&nbsp; 309280 |
| Futu Holdings Ltd., ADR<sup>(b)</sup> | 6767 | &nbsp;&nbsp; 1100111 |
| Hong Kong Exchanges & Clearing Ltd. | 175778 | &nbsp;&nbsp; 9693815 |
| Prudential PLC | 251023 | &nbsp;&nbsp; 4134870 |
| Techtronic Industries Co. Ltd. | 155183 | &nbsp;&nbsp; 2119132 |
| Zijin Gold International Co. Ltd.<sup>(b)</sup> | 22156 | &nbsp;&nbsp; 614000 |
|  |  | &nbsp;&nbsp; 17971208 |
| **Israel-0.78%** | **Israel-0.78%** | **Israel-0.78%** |
| &nbsp;&nbsp;&nbsp; Bezeq The Israeli Telecommunication Corp. <br> Ltd.<br>| 263934 | &nbsp;&nbsp; 679860 |
| Check Point Software Technologies Ltd.<sup>(b)</sup> | 10541 | &nbsp;&nbsp; 1892215 |
| El Al Israel Airlines | 66318 | &nbsp;&nbsp; 376165 |
| Etoro Group Ltd.<sup>(b)</sup> | 7282 | &nbsp;&nbsp; 214091 |
| Israel Corp. Ltd. | 1179 | &nbsp;&nbsp; 353446 |
| Matrix IT Ltd. | 6598 | &nbsp;&nbsp; 297035 |
| Oddity Tech Ltd.<sup>(a)(b)</sup> | 6626 | &nbsp;&nbsp; 217598 |
| Plus500 Ltd. | 11901 | &nbsp;&nbsp; 686992 |
| Strauss Group Ltd. | 9075 | &nbsp;&nbsp; 343538 |
|  |  | &nbsp;&nbsp; 5060940 |
| **Italy-1.74%** | **Italy-1.74%** | **Italy-1.74%** |
| Banca Mediolanum S.p.A. | 22417 | &nbsp;&nbsp; 527771 |
| Coca-Cola HBC AG<sup>(b)</sup> | 19669 | &nbsp;&nbsp; 1071262 |
| Ferrari N.V. | 15484 | &nbsp;&nbsp; 5183363 |
| FinecoBank Banca Fineco S.p.A. | 74956 | &nbsp;&nbsp; 1994312 |
| Prada S.p.A. | 50901 | &nbsp;&nbsp; 260305 |
| Ryanair Holdings PLC | 67526 | &nbsp;&nbsp; 2300103 |
|  |  | &nbsp;&nbsp; 11337116 |
| **Japan-19.10%** | **Japan-19.10%** | **Japan-19.10%** |
| Advantest Corp. | 137832 | &nbsp;&nbsp; 22869452 |
| Asahi Intecc Co. Ltd. | 25017 | &nbsp;&nbsp; 418389 |
| Asics Corp. | 92195 | &nbsp;&nbsp; 2226575 |
| Azbil Corp. | 52650 | &nbsp;&nbsp; 462271 |
| Bandai Namco Holdings, Inc. | 62354 | &nbsp;&nbsp; 1623251 |
| BayCurrent, Inc. | 17273 | &nbsp;&nbsp; 610592 |
| Canon Marketing Japan, Inc. | 6677 | &nbsp;&nbsp; 292253 |
| Capcom Co. Ltd. | 44945 | &nbsp;&nbsp; 1149313 |
| CyberAgent, Inc. | 42696 | &nbsp;&nbsp; 388597 |
| Daifuku Co. Ltd. | 45199 | &nbsp;&nbsp; 1626688 |
| Daiichi Sankyo Co. Ltd. | 223280 | &nbsp;&nbsp; 4103665 |
| Daito Trust Construction Co. Ltd. | 29633 | &nbsp;&nbsp; 603423 |
| Denso Corp. | 197452 | &nbsp;&nbsp; 2748480 |
| Fujikura Ltd. | 32226 | &nbsp;&nbsp; 4063517 |
| GMO Payment Gateway, Inc. | 4702 | &nbsp;&nbsp; 272449 |
| Hitachi Ltd. | 415604 | &nbsp;&nbsp; 14468259 |
| Hoya Corp. | 36102 | &nbsp;&nbsp; 6075953 |
| IHI Corp. | 92255 | &nbsp;&nbsp; 2141348 |
| Japan Exchange Group, Inc. | 112203 | &nbsp;&nbsp; 1228353 |
| JX Advanced Metals Corp.<sup>(a)</sup> | 52552 | &nbsp;&nbsp; 853120 |
| Kakaku.com, Inc. | 20211 | &nbsp;&nbsp; 276737 |
| Kinden Corp. | 10699 | &nbsp;&nbsp; 474965 |
| Kobe Bussan Co. Ltd. | 15614 | &nbsp;&nbsp; 382835 |
| Koei Tecmo Holdings Co. Ltd. | 23372 | &nbsp;&nbsp; 260085 |
| Lasertec Corp.<sup>(a)</sup> | 10860 | &nbsp;&nbsp; 2503036 |

---

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

------

**Invesco S&P International Developed Quality ETF (IDHQ)—(continued)**

January 31, 2026

*(Unaudited)*

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Japan-(continued)** | **Japan-(continued)** | **Japan-(continued)** |
| MonotaRO Co. Ltd. | 30918 | &nbsp;&nbsp; $418403 |
| MS&AD Insurance Group Holdings, Inc. | 122998 | &nbsp;&nbsp; 3143849 |
| Murata Manufacturing Co. Ltd. | 151586 | &nbsp;&nbsp; 3089536 |
| Nissan Chemical Corp. | 14089 | &nbsp;&nbsp; 487215 |
| Nomura Research Institute Ltd. | 43006 | &nbsp;&nbsp; 1312500 |
| NS Solutions Corp.<sup>(a)</sup> | 11028 | &nbsp;&nbsp; 292298 |
| OBIC Business Consultants Co. Ltd. | 5422 | &nbsp;&nbsp; 240963 |
| Otsuka Corp. | 19206 | &nbsp;&nbsp; 382022 |
| Recruit Holdings Co. Ltd. | 201392 | &nbsp;&nbsp; 10642462 |
| Sankyo Co. Ltd. | 27282 | &nbsp;&nbsp; 428143 |
| Sanrio Co. Ltd.<sup>(a)</sup> | 31099 | &nbsp;&nbsp; 965274 |
| Santen Pharmaceutical Co. Ltd. | 35283 | &nbsp;&nbsp; 398207 |
| Sanwa Holdings Corp. | 22056 | &nbsp;&nbsp; 501217 |
| Seibu Holdings, Inc. | 38548 | &nbsp;&nbsp; 1024685 |
| Sharp Corp.<sup>(a)(b)</sup> | 58430 | &nbsp;&nbsp; 267519 |
| SMC Corp. | 5564 | &nbsp;&nbsp; 2170135 |
| TBS Holdings, Inc. | 8396 | &nbsp;&nbsp; 326593 |
| Tokio Marine Holdings, Inc. | 245316 | &nbsp;&nbsp; 9173189 |
| Tokyo Electron Ltd. | 48018 | &nbsp;&nbsp; 12836304 |
| Toyo Suisan Kaisha Ltd. | 12250 | &nbsp;&nbsp; 877443 |
| Trend Micro, Inc.<sup>(b)</sup> | 19655 | &nbsp;&nbsp; 773524 |
| USS Co. Ltd. | 43270 | &nbsp;&nbsp; 479654 |
| Yamaha Corp. | 44670 | &nbsp;&nbsp; 325735 |
| Yokogawa Electric Corp. | 23146 | &nbsp;&nbsp; 774163 |
| ZOZO, Inc. | 78387 | &nbsp;&nbsp; 649533 |
|  |  | &nbsp;&nbsp; 124104172 |
| **Mexico-0.15%** | **Mexico-0.15%** | **Mexico-0.15%** |
| Fresnillo PLC | 19226 | &nbsp;&nbsp; 949514 |
| **Netherlands-7.23%** | **Netherlands-7.23%** | **Netherlands-7.23%** |
| Adyen N.V.<sup>(b)(c)</sup> | 3533 | &nbsp;&nbsp; 5257899 |
| ASML Holding N.V. | 26854 | &nbsp;&nbsp; 38645815 |
| Universal Music Group N.V. | 126568 | &nbsp;&nbsp; 3114396 |
|  |  | &nbsp;&nbsp; 47018110 |
| **New Zealand-0.24%** | **New Zealand-0.24%** | **New Zealand-0.24%** |
| Fisher & Paykel Healthcare Corp. Ltd. | 66865 | &nbsp;&nbsp; 1569192 |
| **Norway-0.66%** | **Norway-0.66%** | **Norway-0.66%** |
| Gjensidige Forsikring ASA | 22761 | &nbsp;&nbsp; 649959 |
| Kongsberg Gruppen ASA | 67785 | &nbsp;&nbsp; 2336118 |
| Protector Forsikring ASA | 7910 | &nbsp;&nbsp; 429897 |
| Vend Marketplaces ASA, Class B | 19480 | &nbsp;&nbsp; 541103 |
| Wallenius Wilhelmsen ASA | 28739 | &nbsp;&nbsp; 335004 |
|  |  | &nbsp;&nbsp; 4292081 |
| **Portugal-0.29%** | **Portugal-0.29%** | **Portugal-0.29%** |
| Banco Comercial Portugues S.A., Class R | 830287 | &nbsp;&nbsp; 901966 |
| Galp Energia SGPS S.A. | 49329 | &nbsp;&nbsp; 985092 |
|  |  | &nbsp;&nbsp; 1887058 |
| **Singapore-0.40%** | **Singapore-0.40%** | **Singapore-0.40%** |
| Singapore Exchange Ltd. | 107321 | &nbsp;&nbsp; 1490685 |
| Singapore Technologies Engineering Ltd.<sup>(a)</sup> | 146566 | &nbsp;&nbsp; 1129491 |
|  |  | &nbsp;&nbsp; 2620176 |
| **South Korea-7.05%** | **South Korea-7.05%** | **South Korea-7.05%** |
| DB Insurance Co. Ltd. | 4050 | &nbsp;&nbsp; 399854 |
| Hanmi Pharm Co. Ltd.<sup>(b)</sup> | 1010 | &nbsp;&nbsp; 340059 |
| Hanmi Semiconductor Co. Ltd. | 5742 | &nbsp;&nbsp; 830620 |
| HD Hyundai Electric Co. Ltd. | 3360 | &nbsp;&nbsp; 2058486 |
| HD Hyundai Heavy Industries Co. Ltd. | 4019 | &nbsp;&nbsp; 1599683 |
| &nbsp;&nbsp;&nbsp; HD Korea Shipbuilding & Offshore Engineering <br> Co. Ltd.<br>| 4577 | &nbsp;&nbsp; 1311008 |
| Hyundai Rotem Co. Ltd. | 7688 | &nbsp;&nbsp; 1229276 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **South Korea-(continued)** | **South Korea-(continued)** | **South Korea-(continued)** |
| LG CNS Co. Ltd. | 6781 | &nbsp;&nbsp; $327095 |
| LIG Nex1 Co. Ltd.<sup>(b)</sup> | 1299 | &nbsp;&nbsp; 433283 |
| NCSoft Corp. | 2169 | &nbsp;&nbsp; 352724 |
| Posco DX Co. Ltd. | 15825 | &nbsp;&nbsp; 424188 |
| Samsung C&T Corp. | 7544 | &nbsp;&nbsp; 1572581 |
| Samsung E&A Co. Ltd. | 19209 | &nbsp;&nbsp; 408889 |
| Samyang Foods Co. Ltd. | 460 | &nbsp;&nbsp; 375939 |
| SK Biopharmaceuticals Co. Ltd.<sup>(b)</sup> | 3233 | &nbsp;&nbsp; 263789 |
| SK hynix, Inc. | 54323 | &nbsp;&nbsp; 33918058 |
|  |  | &nbsp;&nbsp; 45845532 |
| **Spain-2.16%** | **Spain-2.16%** | **Spain-2.16%** |
| Aena S.M.E. S.A.<sup>(c)</sup> | 77323 | &nbsp;&nbsp; 2410178 |
| Amadeus IT Group S.A. | 43189 | &nbsp;&nbsp; 2906184 |
| Endesa S.A. | 32078 | &nbsp;&nbsp; 1188448 |
| Industria de Diseno Textil S.A. | 115461 | &nbsp;&nbsp; 7540320 |
|  |  | &nbsp;&nbsp; 14045130 |
| **Sweden-2.35%** | **Sweden-2.35%** | **Sweden-2.35%** |
| Addtech AB, Class B | 23814 | &nbsp;&nbsp; 778043 |
| Alfa Laval AB | 27147 | &nbsp;&nbsp; 1582230 |
| Atlas Copco AB, Class A | 215834 | &nbsp;&nbsp; 4478752 |
| Essity AB, Class B<sup>(a)</sup> | 61181 | &nbsp;&nbsp; 1822793 |
| Evolution AB<sup>(a)(c)</sup> | 16392 | &nbsp;&nbsp; 1071489 |
| Sectra AB | 18856 | &nbsp;&nbsp; 469113 |
| Tele2 AB, Class B | 48229 | &nbsp;&nbsp; 892881 |
| Telefonaktiebolaget LM Ericsson, Class B | 382441 | &nbsp;&nbsp; 4167750 |
|  |  | &nbsp;&nbsp; 15263051 |
| **Switzerland-11.66%** | **Switzerland-11.66%** | **Switzerland-11.66%** |
| ABB Ltd. | 166928 | &nbsp;&nbsp; 14428174 |
| Chocoladefabriken Lindt & Spruengli AG, PC | 156 | &nbsp;&nbsp; 2250685 |
| EMS-Chemie Holding AG | 946 | &nbsp;&nbsp; 738350 |
| Geberit AG | 4865 | &nbsp;&nbsp; 3729342 |
| Givaudan S.A. | 786 | &nbsp;&nbsp; 3050111 |
| Kuehne + Nagel International AG, Class R<sup>(a)</sup> | 5259 | &nbsp;&nbsp; 1222531 |
| Logitech International S.A., Class R | 19250 | &nbsp;&nbsp; 1664889 |
| Partners Group Holding AG<sup>(a)</sup> | 3481 | &nbsp;&nbsp; 4764990 |
| Roche Holding AG | 62853 | &nbsp;&nbsp; 28693119 |
| Schindler Holding AG, PC | 4345 | &nbsp;&nbsp; 1683017 |
| Sonova Holding AG, Class A | 5027 | &nbsp;&nbsp; 1381167 |
| Straumann Holding AG<sup>(a)(b)</sup> | 10553 | &nbsp;&nbsp; 1274152 |
| Zurich Insurance Group AG | 15243 | &nbsp;&nbsp; 10886453 |
|  |  | &nbsp;&nbsp; 75766980 |
| **United Kingdom-11.73%** | **United Kingdom-11.73%** | **United Kingdom-11.73%** |
| 3i Group PLC | 114002 | &nbsp;&nbsp; 5252083 |
| Admiral Group PLC | 49507 | &nbsp;&nbsp; 1868457 |
| Ashtead Group PLC | 40646 | &nbsp;&nbsp; 2624238 |
| Auto Trader Group PLC<sup>(c)</sup> | 161938 | &nbsp;&nbsp; 1197127 |
| Compass Group PLC | 149504 | &nbsp;&nbsp; 4495724 |
| ICG PLC | 26555 | &nbsp;&nbsp; 662662 |
| Imperial Brands PLC | 110143 | &nbsp;&nbsp; 4652205 |
| &nbsp;&nbsp;&nbsp; International Consolidated Airlines Group <br> S.A.<br>| 297702 | &nbsp;&nbsp; 1715198 |
| Intertek Group PLC | 18525 | &nbsp;&nbsp; 1139706 |
| Next PLC | 16295 | &nbsp;&nbsp; 2966938 |
| Reckitt Benckiser Group PLC | 63034 | &nbsp;&nbsp; 5273860 |
| RELX PLC | 207484 | &nbsp;&nbsp; 7376699 |
| Rolls-Royce Holdings PLC | 1092274 | &nbsp;&nbsp; 18311578 |
| Sage Group PLC (The) | 128162 | &nbsp;&nbsp; 1685406 |

---

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

------

**Invesco S&P International Developed Quality ETF (IDHQ)—(continued)**

January 31, 2026

*(Unaudited)*

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **United Kingdom-(continued)** | **United Kingdom-(continued)** | **United Kingdom-(continued)** |
| Unilever PLC | 232201 | &nbsp;&nbsp; $15841539 |
| Wise PLC, Class A<sup>(b)</sup> | 90325 | &nbsp;&nbsp; 1168310 |
|  |  | &nbsp;&nbsp; 76231730 |
| **United States-7.61%** | **United States-7.61%** | **United States-7.61%** |
| Ferrovial SE | 58245 | &nbsp;&nbsp; 3948438 |
| GSK PLC | 506964 | &nbsp;&nbsp; 13148311 |
| Novartis AG | 178544 | &nbsp;&nbsp; 26593744 |
| Oracle Corp. | 5045 | &nbsp;&nbsp; 342477 |
| Swiss Re AG<sup>(b)</sup> | 33967 | &nbsp;&nbsp; 5448522 |
|  |  | &nbsp;&nbsp; 49481492 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks & Other Equity Interests <br>(Cost $521,381,552) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Common Stocks & Other Equity Interests <br>(Cost $521,381,552) | &nbsp;&nbsp; 648465323 |
| **Money Market Funds-0.04%** | **Money Market Funds-0.04%** | **Money Market Funds-0.04%** |
| &nbsp;&nbsp;&nbsp; Invesco Government & Agency Portfolio, <br> Institutional Class, 3.61%<sup>(d)(e)</sup> <br>(Cost $271,961)<br>| 271961 | &nbsp;&nbsp; 271961 |
| &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES <br>(excluding investments purchased with cash collateral <br> from securities on loan)-99.82% <br>(Cost $521,653,513) | &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES <br>(excluding investments purchased with cash collateral <br> from securities on loan)-99.82% <br>(Cost $521,653,513) | &nbsp;&nbsp; 648737284 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Investments Purchased with Cash Collateral from Securities** <br> **on Loan** | **Investments Purchased with Cash Collateral from Securities** <br> **on Loan** | **Investments Purchased with Cash Collateral from Securities** <br> **on Loan** |
| **Money Market Funds-2.24%** | **Money Market Funds-2.24%** | **Money Market Funds-2.24%** |
| &nbsp;&nbsp;&nbsp; Invesco Private Government Fund, <br> 3.65%<sup>(d)(e)(f)</sup><br>| 4046173 | &nbsp;&nbsp; $4046173 |
| Invesco Private Prime Fund, 3.80%<sup>(d)(e)(f)</sup> | 10508881 | &nbsp;&nbsp; 10512034 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Investments Purchased with Cash Collateral from <br> Securities on Loan <br>(Cost $14,558,207) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Investments Purchased with Cash Collateral from <br> Securities on Loan <br>(Cost $14,558,207) | &nbsp;&nbsp; 14558207 |
| &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES-102.06% <br>(Cost $536,211,720) | &nbsp;&nbsp;&nbsp; TOTAL INVESTMENTS IN SECURITIES-102.06% <br>(Cost $536,211,720) | &nbsp;&nbsp; 663295491 |
| OTHER ASSETS LESS LIABILITIES-(2.06)% | OTHER ASSETS LESS LIABILITIES-(2.06)% | &nbsp;&nbsp; (13396821)<br>|
| NET ASSETS-100.00% | NET ASSETS-100.00% | &nbsp;&nbsp; $649898670 |

---

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

---

| |
|:---|
| Investment Abbreviations: |
| ADR-American Depositary Receipt |
| BR-Bearer Shares |
| PC-Participation Certificate |

---

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

---

| | |
|:---|:---|
| Notes to Schedule of Investments: | Notes to Schedule of Investments: |
| <sup>(a)</sup> | All or a portion of this security was out on loan at January 31, 2026. |
| <sup>(b)</sup> | Non-income producing security. |
| <sup>(c)</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 $10,229,413, which represented 1.57% of the Fund's Net Assets.<br>|
| <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; $9160 | &nbsp;&nbsp;&nbsp; $3513656 | &nbsp;&nbsp;&nbsp; $(3250855)<br>| &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $271961 | &nbsp;&nbsp;&nbsp; $3627 |
| **Investments Purchased** <br> **with Cash Collateral from** <br> **Securities on Loan:**<br>|  |  |  |  |  |  |  |
| &nbsp;&nbsp; Invesco Private <br> Government Fund<br>| &nbsp;&nbsp;&nbsp; 4387217 | &nbsp;&nbsp;&nbsp; 16117974 | &nbsp;&nbsp;&nbsp; (16459018)<br>| &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; 4046173 | &nbsp;&nbsp;&nbsp; 34,679<br> \*<br>|
| &nbsp;&nbsp; Invesco Private Prime <br> Fund<br>| &nbsp;&nbsp;&nbsp; 11437653 | &nbsp;&nbsp;&nbsp; 32288819 | &nbsp;&nbsp;&nbsp; (33214438)<br>| &nbsp;&nbsp;&nbsp; 118 | &nbsp;&nbsp;&nbsp; (118)<br>| &nbsp;&nbsp;&nbsp; 10512034 | &nbsp;&nbsp;&nbsp; 96,199<br> \*<br>|
| &nbsp;&nbsp; Total | &nbsp;&nbsp;&nbsp; $15834030 | &nbsp;&nbsp;&nbsp; $51920449 | &nbsp;&nbsp;&nbsp; $(52924311)<br>| &nbsp;&nbsp;&nbsp; $118 | &nbsp;&nbsp;&nbsp; $(118)<br>| &nbsp;&nbsp;&nbsp; $14830168 | &nbsp;&nbsp;&nbsp; $134505 |

---

&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.

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

------

**Invesco S&P International Developed Quality ETF (IDHQ)—(continued)**

January 31, 2026

*(Unaudited)*

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

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

------

**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 China Technology ETF |  |  |  |  |
| **Investments in Securities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Common Stocks & Other Equity Interests | &nbsp;&nbsp;&nbsp; $368468562 | &nbsp;&nbsp;&nbsp; $2790667737 | &nbsp;&nbsp;&nbsp; $0 | &nbsp;&nbsp;&nbsp; $3159136299 |
| &nbsp;&nbsp;&nbsp; Money Market Funds | &nbsp;&nbsp;&nbsp; 2461939 | &nbsp;&nbsp;&nbsp; 258058006 | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; 260519945 |
| **Total Investments** | &nbsp;&nbsp;&nbsp; $370930501 | &nbsp;&nbsp;&nbsp; $3048725743 | &nbsp;&nbsp;&nbsp; $0 | &nbsp;&nbsp;&nbsp; $3419656244 |
| &nbsp;&nbsp; Invesco Dorsey Wright Developed Markets Momentum ETF |  |  |  |  |
| **Investments in Securities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Common Stocks & Other Equity Interests | &nbsp;&nbsp;&nbsp; $103957593 | &nbsp;&nbsp;&nbsp; $477647127 | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $581604720 |
| &nbsp;&nbsp;&nbsp; Money Market Funds | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; 11922265 | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; 11922265 |
| **Total Investments** | &nbsp;&nbsp;&nbsp; $103957593 | &nbsp;&nbsp;&nbsp; $489569392 | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $593526985 |
| &nbsp;&nbsp; Invesco Dorsey Wright Emerging Markets Momentum ETF |  |  |  |  |
| **Investments in Securities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Common Stocks & Other Equity Interests | &nbsp;&nbsp;&nbsp; $19647270 | &nbsp;&nbsp;&nbsp; $110584807 | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $130232077 |
| &nbsp;&nbsp;&nbsp; Money Market Funds | &nbsp;&nbsp;&nbsp; 179920 | &nbsp;&nbsp;&nbsp; 5310202 | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; 5490122 |
| **Total Investments** | &nbsp;&nbsp;&nbsp; $19827190 | &nbsp;&nbsp;&nbsp; $115895009 | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $135722199 |
| &nbsp;&nbsp; Invesco Global Clean Energy ETF |  |  |  |  |
| **Investments in Securities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Common Stocks & Other Equity Interests | &nbsp;&nbsp;&nbsp; $51928080 | &nbsp;&nbsp;&nbsp; $129485641 | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $181413721 |
| &nbsp;&nbsp;&nbsp; Money Market Funds | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; 43504762 | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; 43504762 |
| **Total Investments** | &nbsp;&nbsp;&nbsp; $51928080 | &nbsp;&nbsp;&nbsp; $172990403 | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $224918483 |
| &nbsp;&nbsp; Invesco Global Water ETF |  |  |  |  |
| **Investments in Securities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Common Stocks & Other Equity Interests | &nbsp;&nbsp;&nbsp; $167712244 | &nbsp;&nbsp;&nbsp; $123717398 | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $291429642 |
| &nbsp;&nbsp;&nbsp; Money Market Funds | &nbsp;&nbsp;&nbsp; 169965 | &nbsp;&nbsp;&nbsp; 9990399 | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; 10160364 |
| **Total Investments** | &nbsp;&nbsp;&nbsp; $167882209 | &nbsp;&nbsp;&nbsp; $133707797 | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $301590006 |

---

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Level 1** | **Level 2** | **Level 3** | **Total** |
| &nbsp;&nbsp; Invesco International BuyBack Achievers<sup>TM</sup> ETF |  |  |  |  |
| **Investments in Securities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Common Stocks & Other Equity Interests | &nbsp;&nbsp;&nbsp; $39780440 | &nbsp;&nbsp;&nbsp; $471307879 | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $511088319 |
| &nbsp;&nbsp;&nbsp; Money Market Funds | &nbsp;&nbsp;&nbsp; 958769 | &nbsp;&nbsp;&nbsp; 25031947 | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; 25990716 |
| **Total Investments** | &nbsp;&nbsp;&nbsp; $40739209 | &nbsp;&nbsp;&nbsp; $496339826 | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $537079035 |
| &nbsp;&nbsp; Invesco MSCI Global Climate 500 ETF |  |  |  |  |
| **Investments in Securities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Common Stocks & Other Equity Interests | &nbsp;&nbsp;&nbsp; $993432368 | &nbsp;&nbsp;&nbsp; $448785752 | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $1442218120 |
| &nbsp;&nbsp;&nbsp; Money Market Funds | &nbsp;&nbsp;&nbsp; 256231 | &nbsp;&nbsp;&nbsp; 16573223 | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; 16829454 |
| **Total Investments** | &nbsp;&nbsp;&nbsp; $993688599 | &nbsp;&nbsp;&nbsp; $465358975 | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $1459047574 |
| &nbsp;&nbsp; Invesco MSCI Global Timber ETF |  |  |  |  |
| **Investments in Securities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Common Stocks & Other Equity Interests | &nbsp;&nbsp;&nbsp; $22859801 | &nbsp;&nbsp;&nbsp; $14393230 | &nbsp;&nbsp;&nbsp; $0 | &nbsp;&nbsp;&nbsp; $37253031 |
| &nbsp;&nbsp;&nbsp; Money Market Funds | &nbsp;&nbsp;&nbsp; 8861 | &nbsp;&nbsp;&nbsp; 9833415 | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; 9842276 |
| **Total Investments** | &nbsp;&nbsp;&nbsp; $22868662 | &nbsp;&nbsp;&nbsp; $24226645 | &nbsp;&nbsp;&nbsp; $0 | &nbsp;&nbsp;&nbsp; $47095307 |
| &nbsp;&nbsp; Invesco MSCI Green Building ETF |  |  |  |  |
| **Investments in Securities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Common Stocks & Other Equity Interests | &nbsp;&nbsp;&nbsp; $1206698 | &nbsp;&nbsp;&nbsp; $4297033 | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $5503731 |
| &nbsp;&nbsp;&nbsp; Money Market Funds | &nbsp;&nbsp;&nbsp; 1528 | &nbsp;&nbsp;&nbsp; 650700 | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; 652228 |
| **Total Investments** | &nbsp;&nbsp;&nbsp; $1208226 | &nbsp;&nbsp;&nbsp; $4947733 | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $6155959 |
| &nbsp;&nbsp; Invesco RAFI Developed Markets ex-U.S. ETF |  |  |  |  |
| **Investments in Securities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Common Stocks & Other Equity Interests | &nbsp;&nbsp;&nbsp; $247808306 | &nbsp;&nbsp;&nbsp; $2209792671 | &nbsp;&nbsp;&nbsp; $0 | &nbsp;&nbsp;&nbsp; $2457600977 |
| &nbsp;&nbsp;&nbsp; Money Market Funds | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; 132484487 | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; 132484487 |
| **Total Investments** | &nbsp;&nbsp;&nbsp; $247808306 | &nbsp;&nbsp;&nbsp; $2342277158 | &nbsp;&nbsp;&nbsp; $0 | &nbsp;&nbsp;&nbsp; $2590085464 |
| &nbsp;&nbsp; Invesco RAFI Developed Markets ex-U.S. Small-Mid ETF |  |  |  |  |
| **Investments in Securities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Common Stocks & Other Equity Interests | &nbsp;&nbsp;&nbsp; $47228120 | &nbsp;&nbsp;&nbsp; $332204093 | &nbsp;&nbsp;&nbsp; $80418 | &nbsp;&nbsp;&nbsp; $379512631 |
| &nbsp;&nbsp;&nbsp; Money Market Funds | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; 55558399 | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; 55558399 |
| **Total Investments** | &nbsp;&nbsp;&nbsp; $47228120 | &nbsp;&nbsp;&nbsp; $387762492 | &nbsp;&nbsp;&nbsp; $80418 | &nbsp;&nbsp;&nbsp; $435071030 |
| &nbsp;&nbsp; Invesco RAFI Emerging Markets ETF |  |  |  |  |
| **Investments in Securities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Common Stocks & Other Equity Interests | &nbsp;&nbsp;&nbsp; $365303510 | &nbsp;&nbsp;&nbsp; $1528962087 | &nbsp;&nbsp;&nbsp; $0 | &nbsp;&nbsp;&nbsp; $1894265597 |
| &nbsp;&nbsp;&nbsp; Money Market Funds | &nbsp;&nbsp;&nbsp; 10400799 | &nbsp;&nbsp;&nbsp; 95248088 | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; 105648887 |
| **Total Investments in Securities** | &nbsp;&nbsp;&nbsp; 375704309 | &nbsp;&nbsp;&nbsp; 1624210175 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp; 1999914484 |
| **Other Investments - Assets\*** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Futures Contracts | &nbsp;&nbsp;&nbsp; 540900 | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; 540900 |
| **Total Investments** | &nbsp;&nbsp;&nbsp; $376245209 | &nbsp;&nbsp;&nbsp; $1624210175 | &nbsp;&nbsp;&nbsp; $0 | &nbsp;&nbsp;&nbsp; $2000455384 |
| &nbsp;&nbsp; Invesco S&P Global Water Index ETF |  |  |  |  |
| **Investments in Securities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Common Stocks & Other Equity Interests | &nbsp;&nbsp;&nbsp; $752427844 | &nbsp;&nbsp;&nbsp; $282012682 | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $1034440526 |
| &nbsp;&nbsp;&nbsp; Money Market Funds | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; 35190165 | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; 35190165 |
| **Total Investments** | &nbsp;&nbsp;&nbsp; $752427844 | &nbsp;&nbsp;&nbsp; $317202847 | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $1069630691 |
| &nbsp;&nbsp; Invesco S&P International Developed Quality ETF |  |  |  |  |
| **Investments in Securities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Common Stocks & Other Equity Interests | &nbsp;&nbsp;&nbsp; $26345209 | &nbsp;&nbsp;&nbsp; $622120114 | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $648465323 |
| &nbsp;&nbsp;&nbsp; Money Market Funds | &nbsp;&nbsp;&nbsp; 271961 | &nbsp;&nbsp;&nbsp; 14558207 | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; 14830168 |
| **Total Investments** | &nbsp;&nbsp;&nbsp; $26617170 | &nbsp;&nbsp;&nbsp; $636678321 | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $663295491 |

---

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

\* Futures contracts is valued at unrealized appreciation (depreciation).

------

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

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

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

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

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

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

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

  - **City:** Downers Grove

  - **State:** IL

  - **Foreign country:** US

  - **Zip / Postal Code:** 60515

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

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

- **a. Name of Series:** Invesco Dorsey Wright Developed Markets Momentum ETF

- **b. EDGAR series identifier (if any):** S000020450

- **c. LEI of Series:** 549300ZCQS17LC3E3Y50

**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:** $594313695.46

**Total Liabilities:** $12582192.05

**Net Assets:** $581731503.41

**Cash Not Reported:** $115863.14

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000057374 | -0.64%               | 1.96%                | 6.91%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-57.77                  | $-3633525.23                               |
| Month 2  | $22972758.72             | $-13102813.44                              |
| Month 3  | $3160479.50              | $33323850.31                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Iberdrola, S.A.                                        | Iberdrola, S.A.                                        | CUSIP: N/A<br>LEI: 5QK37QC7NWOJ8D7WVQ45       | Long             | EC               | CORP              | ES        |    132435 | NS      | $2988305.75   | 0.51%             |  |  |  | No            |                  2 | On Loan: No      |
| Banca Mediolanum S.p.A.                                | Banca Mediolanum S.p.A.                                | CUSIP: T1R88K108<br>LEI: 7LVZJ6XRIE7VNZ4UBX81 | Long             | EC               | CORP              | IT        |    124801 | NS      | $2938229.80   | 0.51%             |  |  |  | No            |                  2 | On Loan: No      |
| Prysmian S.p.A.                                        | Prysmian S.p.A.                                        | CUSIP: N/A<br>LEI: 529900X0H1IO3RS1A464       | Long             | EC               | CORP              | IT        |     31438 | NS      | $3737133.30   | 0.64%             |  |  |  | No            |                  2 | On Loan: No      |
| Lundin Gold Inc.                                       | Lundin Gold Inc.                                       | CUSIP: 550371108<br>LEI: 549300ZOV16K515FC525 | Long             | EC               | CORP              | CA        |     69624 | NS      | $5248471.68   | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank Hapoalim Ltd.                                     | Bank Hapoalim Ltd.                                     | CUSIP: N/A<br>LEI: B6ARUI4946ST4S7WOU88       | Long             | EC               | CORP              | IL        |    156419 | NS      | $3878476.02   | 0.67%             |  |  |  | No            |                  2 | On Loan: No      |
| Bilfinger SE                                           | Bilfinger SE                                           | CUSIP: D11648108<br>LEI: 529900H0HULEN2BZ4604 | Long             | EC               | CORP              | DE        |     38388 | NS      | $5398011.12   | 0.93%             |  |  |  | No            |                  2 | On Loan: No      |
| Gunma Bank, Ltd. (The)                                 | Gunma Bank, Ltd. (The)                                 | CUSIP: J17766106<br>LEI: 54930054A69VC4I5BP89 | Long             | EC               | CORP              | JP        |    250068 | NS      | $3158488.03   | 0.54%             |  |  |  | No            |                  2 | On Loan: No      |
| PLS Group Ltd.                                         | PLS Group Ltd.                                         | CUSIP: Q7539C100<br>LEI: 5299000VV1CZVF5K9C16 | Long             | EC               | CORP              | AU        |   1112176 | NS      | $3283007.27   | 0.56%             |  |  |  | No            |                  2 | On Loan: —       |
| Swiss Life Holding Ltd.                                | Swiss Life Holding Ltd.                                | CUSIP: N/A<br>LEI: 5493000KUC3Z24U77V93       | Long             | EC               | CORP              | CH        |      7586 | NS      | $8350862.23   | 1.44%             |  |  |  | No            |                  2 | On Loan: No      |
| DBS Group Holdings Ltd.                                | DBS Group Holdings Ltd.                                | CUSIP: N/A<br>LEI: 5493007FKT78NKPM5V55       | Long             | EC               | CORP              | SG        |     65968 | NS      | $3073838.64   | 0.53%             |  |  |  | No            |                  2 | On Loan: No      |
| Flughafen Zureich AG                                   | Flughafen Zureich AG                                   | CUSIP: H26552135<br>LEI: 529900PFO97GCN5SYB55 | Long             | EC               | CORP              | CH        |     49742 | NS      | $15509123.07  | 2.67%             |  |  |  | No            |                  2 | On Loan: No      |
| Koninklijke Ahold Delhaize N.V.                        | Koninklijke Ahold Delhaize N.V.                        | CUSIP: N/A<br>LEI: 724500C9GNBV20UYRX36       | Long             | EC               | CORP              | NL        |    104832 | NS      | $4113819.33   | 0.71%             |  |  |  | No            |                  2 | On Loan: No      |
| ING Groep N.V.                                         | ING Groep N.V.                                         | CUSIP: N/A<br>LEI: 549300NYKK9MWM7GGW15       | Long             | EC               | CORP              | NL        |    110659 | NS      | $3275276.18   | 0.56%             |  |  |  | No            |                  2 | On Loan: No      |
| Diploma PLC                                            | Diploma PLC                                            | CUSIP: G27664112<br>LEI: 2138008OGI7VYG8FGR19 | Long             | EC               | CORP              | GB        |    182785 | NS      | $13354151.38  | 2.30%             |  |  |  | No            |                  2 | On Loan: No      |
| Centrica PLC                                           | Centrica PLC                                           | CUSIP: N/A<br>LEI: E26EDV109X6EEPBKVH76       | Long             | EC               | CORP              | GB        |   1265851 | NS      | $3324094.04   | 0.57%             |  |  |  | No            |                  2 | On Loan: No      |
| Jyske Bank A/S                                         | Jyske Bank A/S                                         | CUSIP: K55633117<br>LEI: 3M5E1GQGKL17HI6CPN30 | Long             | EC               | CORP              | DK        |     21315 | NS      | $3113337.16   | 0.54%             |  |  |  | No            |                  2 | On Loan: No      |
| Aritzia Inc.                                           | Aritzia Inc.                                           | CUSIP: 04045U102<br>LEI: 549300U83HKFRL1EX527 | Long             | EC               | CORP              | CA        |     35966 | NS      | $2850667.05   | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Advantest Corp.                                        | Advantest Corp.                                        | CUSIP: N/A<br>LEI: 353800EMK32PDKS9XR54       | Long             | EC               | CORP              | JP        |     42799 | NS      | $7101323.79   | 1.22%             |  |  |  | No            |                  2 | On Loan: No      |
| Intesa Sanpaolo S.p.A.                                 | Intesa Sanpaolo S.p.A.                                 | CUSIP: N/A<br>LEI: 2W8N8UU78PMDQKZENC08       | Long             | EC               | CORP              | IT        |    427256 | NS      | $3035686.30   | 0.52%             |  |  |  | No            |                  2 | On Loan: No      |
| Raiffeisen Bank International AG                       | Raiffeisen Bank International AG                       | CUSIP: N/A<br>LEI: 9ZHRYM6F437SQJ6OUG95       | Long             | EC               | CORP              | AT        |     65819 | NS      | $3329675.86   | 0.57%             |  |  |  | No            |                  2 | On Loan: No      |
| Banco Comercial Portugues, S.A.                        | Banco Comercial Portugues, S.A., Class R               | CUSIP: X03188319<br>LEI: JU1U6S0DG9YLT7N8ZV32 | Long             | EC               | CORP              | PT        |   6319364 | NS      | $6864918.23   | 1.18%             |  |  |  | No            |                  2 | On Loan: No      |
| AL Sydbank A/S                                         | AL Sydbank A/S                                         | CUSIP: N/A<br>LEI: GP5DT10VX1QRQUKVBK64       | Long             | EC               | CORP              | DK        |     44016 | NS      | $4000985.52   | 0.69%             |  |  |  | No            |                  2 | On Loan: No      |
| UniCredit S.p.A.                                       | UniCredit S.p.A.                                       | CUSIP: N/A<br>LEI: 549300TRUWO2CD2G5692       | Long             | EC               | CORP              | IT        |     98179 | NS      | $8586954.20   | 1.48%             |  |  |  | No            |                  2 | On Loan: No      |
| Fresnillo PLC                                          | Fresnillo PLC                                          | CUSIP: N/A<br>LEI: 549300JXWH1UV5J0XV81       | Long             | EC               | CORP              | GB        |    143320 | NS      | $7078140.35   | 1.22%             |  |  |  | No            |                  2 | On Loan: No      |
| ITOCHU Corp.                                           | ITOCHU Corp.                                           | CUSIP: N/A<br>LEI: J48DJYXDTLHM30UMYI18       | Long             | EC               | CORP              | JP        |    471796 | NS      | $6059780.93   | 1.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Ringkjoebing Landbobank A/S                            | Ringkjoebing Landbobank A/S                            | CUSIP: K81980144<br>LEI: 2138002M5U5K4OUMVV62 | Long             | EC               | CORP              | DK        |     29779 | NS      | $7534608.93   | 1.30%             |  |  |  | No            |                  2 | On Loan: No      |
| Bank of Ireland Group PLC                              | Bank of Ireland Group PLC                              | CUSIP: G0756R109<br>LEI: 635400C8EK6DRI12LJ39 | Long             | EC               | CORP              | IE        |    404664 | NS      | $8251577.30   | 1.42%             |  |  |  | No            |                  2 | On Loan: No      |
| AIB Group PLC                                          | AIB Group PLC                                          | CUSIP: N/A<br>LEI: 635400AKJBGNS5WNQL34       | Long             | EC               | CORP              | IE        |    628952 | NS      | $7056022.68   | 1.21%             |  |  |  | No            |                  2 | On Loan: No      |
| Konecranes OYJ                                         | Konecranes OYJ                                         | CUSIP: X4550J108<br>LEI: 549300EF0CDEQZBMA096 | Long             | EC               | CORP              | FI        |     32763 | NS      | $3872241.75   | 0.67%             |  |  |  | No            |                  2 | On Loan: No      |
| BAWAG Group AG                                         | BAWAG Group AG                                         | CUSIP: A0997C107<br>LEI: 529900S9YO2JHTIIDG38 | Long             | EC               | CORP              | AT        |     23875 | NS      | $3897979.64   | 0.67%             |  |  |  | No            |                  2 | On Loan: No      |
| Nexans                                                 | Nexans                                                 | CUSIP: F65277109<br>LEI: 96950015FU78G84UIV14 | Long             | EC               | CORP              | FR        |     20701 | NS      | $3272496.22   | 0.56%             |  |  |  | No            |                  2 | On Loan: No      |
| Geberit AG                                             | Geberit AG                                             | CUSIP: N/A<br>LEI: 52990093Z5OHD6T7BS47       | Long             | EC               | CORP              | CH        |     16239 | NS      | $12448258.79  | 2.14%             |  |  |  | No            |                  2 | On Loan: No      |
| Indra Sistemas S.A.                                    | Indra Sistemas S.A.                                    | CUSIP: E6271Z155<br>LEI: 95980020140005308793 | Long             | EC               | CORP              | ES        |     76750 | NS      | $4978656.06   | 0.86%             |  |  |  | No            |                  2 | On Loan: —       |
| Wartsila OYJ Abp                                       | Wartsila OYJ Abp                                       | CUSIP: X98155116<br>LEI: 743700G7A9J1PHM3X223 | Long             | EC               | CORP              | FI        |     80191 | NS      | $3262742.62   | 0.56%             |  |  |  | No            |                  2 | On Loan: No      |
| HOCHTIEF AG                                            | HOCHTIEF AG                                            | CUSIP: D33134103<br>LEI: 529900Y25S8NZIYTT924 | Long             | EC               | CORP              | DE        |     12595 | NS      | $5300811.20   | 0.91%             |  |  |  | No            |                  2 | On Loan: No      |
| Heidelberg Materials AG                                | Heidelberg Materials AG                                | CUSIP: D31709104<br>LEI: LZ2C6E0W5W7LQMX5ZI37 | Long             | EC               | CORP              | DE        |     12772 | NS      | $3510568.33   | 0.60%             |  |  |  | No            |                  2 | On Loan: No      |
| Bankinter S.A.                                         | Bankinter S.A.                                         | CUSIP: E2116H880<br>LEI: VWMYAEQSTOPNV0SUGU82 | Long             | EC               | CORP              | ES        |    170319 | NS      | $2917890.12   | 0.50%             |  |  |  | No            |                  2 | On Loan: No      |
| First International Bank of Israel Ltd. (The)          | First International Bank of Israel Ltd. (The)          | CUSIP: M1648G106<br>LEI: 2138002RV6AUUX19F397 | Long             | EC               | CORP              | IL        |    106829 | NS      | $9097124.05   | 1.56%             |  |  |  | No            |                  2 | On Loan: No      |
| Lion Finance Group PLC                                 | Lion Finance Group PLC                                 | CUSIP: G0R1NA104<br>LEI: 213800XKDG12NQG8VC53 | Long             | EC               | CORP              | GB        |     77859 | NS      | $10787616.90  | 1.85%             |  |  |  | No            |                  2 | On Loan: No      |
| Harel Insurance Investments & Financial Services Ltd.  | Harel Insurance Investments & Financial Services Ltd.  | CUSIP: N/A<br>LEI: 213800BDNN3W11SXXD60       | Long             | EC               | CORP              | IL        |    101486 | NS      | $4668935.55   | 0.80%             |  |  |  | No            |                  2 | On Loan: No      |
| IHI Corp.                                              | IHI Corp.                                              | CUSIP: J2398N113<br>LEI: 549300ETQIESIUQ2OE26 | Long             | EC               | CORP              | JP        |    240105 | NS      | $5573121.30   | 0.96%             |  |  |  | No            |                  2 | On Loan: No      |
| National Bank of Greece S.A.                           | National Bank of Greece S.A.                           | CUSIP: X56533189<br>LEI: 5UMCZOEYKCVFAW8ZLO05 | Long             | EC               | CORP              | GR        |    635587 | NS      | $11261646.07  | 1.94%             |  |  |  | No            |                  2 | On Loan: No      |
| NEC Corp.                                              | NEC Corp.                                              | CUSIP: N/A<br>LEI: 5493000QYMPFRTEY4K28       | Long             | EC               | CORP              | JP        |     88160 | NS      | $2998280.73   | 0.52%             |  |  |  | No            |                  2 | On Loan: No      |
| Eldorado Gold Corp.                                    | Eldorado Gold Corp.                                    | CUSIP: 284902509<br>LEI: 5493004PWQ01YDD1IH62 | Long             | EC               | CORP              | CA        |     89913 | NS      | $3878977.56   | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank Mizrahi Tefahot Ltd.                              | Bank Mizrahi Tefahot Ltd.                              | CUSIP: N/A<br>LEI: YZO9YEGEO4VYDZMDWF93       | Long             | EC               | CORP              | IL        |     55139 | NS      | $4326382.40   | 0.74%             |  |  |  | No            |                  2 | On Loan: No      |
| Wesfarmers Ltd.                                        | Wesfarmers Ltd.                                        | CUSIP: Q95870103<br>LEI: 5493003L32ZX9557ST85 | Long             | EC               | CORP              | AU        |     58702 | NS      | $3406742.58   | 0.59%             |  |  |  | No            |                  2 | On Loan: No      |
| Holcim AG                                              | Holcim AG                                              | CUSIP: H3816Q102<br>LEI: 529900EHPFPYHV6IQO98 | Long             | EC               | CORP              | CH        |     29426 | NS      | $3044720.58   | 0.52%             |  |  |  | No            |                  2 | On Loan: No      |
| ACS Actividades de Construccion y Servicios S.A.       | ACS Actividades de Construccion y Servicios S.A.       | CUSIP: E7813W163<br>LEI: 95980020140005558665 | Long             | EC               | CORP              | ES        |     36192 | NS      | $4075339.21   | 0.70%             |  |  |  | No            |                  2 | On Loan: No      |
| Mineral Resources Ltd.                                 | Mineral Resources Ltd.                                 | CUSIP: Q60976109<br>LEI: 5299007V1ACKFFX2P066 | Long             | EC               | CORP              | AU        |     80295 | NS      | $3177488.04   | 0.55%             |  |  |  | No            |                  2 | On Loan: —       |
| ABLBio, Inc.                                           | ABLBio, Inc.                                           | CUSIP: Y0R1DM109<br>LEI: 9884007BRC71Y64NK235 | Long             | EC               | CORP              | KR        |     56915 | NS      | $7766491.96   | 1.34%             |  |  |  | No            |                  2 | On Loan: No      |
| Banco Santander S.A.                                   | Banco Santander S.A.                                   | CUSIP: N/A<br>LEI: 5493006QMFDDMYWIAM13       | Long             | EC               | CORP              | ES        |    246117 | NS      | $3153839.69   | 0.54%             |  |  |  | No            |                  2 | On Loan: No      |
| SK hynix Inc.                                          | SK hynix Inc.                                          | CUSIP: Y8085F100<br>LEI: 988400XAIK6XISWQV045 | Long             | EC               | CORP              | KR        |      9221 | NS      | $5757384.69   | 0.99%             |  |  |  | No            |                  2 | On Loan: No      |
| Invesco Private Government Fund                        | Invesco Private Government Fund                        | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             | PF                | US        |   3288525 | NS      | $3288524.83   | 0.57%             |  |  |  | No            |                  2 | On Loan: No      |
| Invesco Private Prime Fund                             | Invesco Private Prime Fund                             | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             | PF                | US        |   8633740 | NS      | $8633740.35   | 1.48%             |  |  |  | No            |                  2 | On Loan: No      |
| thyssenkrupp AG                                        | thyssenkrupp AG                                        | CUSIP: D8398Q119<br>LEI: 549300UDG16DOYUPR330 | Long             | EC               | CORP              | DE        |    300082 | NS      | $4014828.86   | 0.69%             |  |  |  | No            |                  2 | On Loan: No      |
| Siemens Energy AG                                      | Siemens Energy AG, Class A                             | CUSIP: D6T47E106<br>LEI: 5299005CHJZ14D4FDJ62 | Long             | EC               | CORP              | DE        |     82884 | NS      | $14173018.95  | 2.44%             |  |  |  | No            |                  2 | On Loan: No      |
| Pan American Silver Corp.                              | Pan American Silver Corp.                              | CUSIP: 697900108<br>LEI: 549300MKTF5851TYIB83 | Long             | EC               | CORP              | CA        |     56829 | NS      | $3113498.14   | 0.54%             |  |  |  | No            |                  1 | On Loan: —       |
| Investor AB                                            | Investor AB, Class B                                   | CUSIP: N/A<br>LEI: 549300VEBQPHRZBKUX38       | Long             | EC               | CORP              | SE        |    298298 | NS      | $11574063.63  | 1.99%             |  |  |  | No            |                  2 | On Loan: No      |
| SK Square Co., Ltd.                                    | SK Square Co., Ltd.                                    | CUSIP: Y8T6X4107<br>LEI: N/A                  | Long             | EC               | CORP              | KR        |     20356 | NS      | $7968384.71   | 1.37%             |  |  |  | No            |                  2 | On Loan: No      |
| Royal Bank of Canada                                   | Royal Bank of Canada                                   | CUSIP: 780087102<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | EC               | CORP              | CA        |     66309 | NS      | $11101854.65  | 1.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Dollarama Inc.                                         | Dollarama Inc.                                         | CUSIP: 25675T107<br>LEI: 5493002GJ0NJP1HI0C79 | Long             | EC               | CORP              | CA        |     92725 | NS      | $12565105.42  | 2.16%             |  |  |  | No            |                  1 | On Loan: No      |
| IAMGOLD Corp.                                          | IAMGOLD Corp.                                          | CUSIP: 450913108<br>LEI: 254900E7II30XAB9LA72 | Long             | EC               | CORP              | CA        |    281459 | NS      | $5135953.84   | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Toromont Industries Ltd.                               | Toromont Industries Ltd.                               | CUSIP: 891102105<br>LEI: 5493008W5EPRSLQ0B737 | Long             | EC               | CORP              | CA        |     30312 | NS      | $3882595.28   | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Bombardier Inc.                                        | Bombardier Inc., Class B                               | CUSIP: 097751861<br>LEI: W7L3VLU8EHQY34Z36697 | Long             | EC               | CORP              | CA        |     85592 | NS      | $14702621.66  | 2.53%             |  |  |  | No            |                  1 | On Loan: No      |
| ABB Ltd.                                               | ABB Ltd.                                               | CUSIP: H0010V101<br>LEI: 5493000LKVGOO9PELI61 | Long             | EC               | CORP              | CH        |    219982 | NS      | $19013818.00  | 3.27%             |  |  |  | No            |                  2 | On Loan: No      |
| NatWest Group PLC                                      | NatWest Group PLC                                      | CUSIP: G6422B147<br>LEI: 2138005O9XJIJN4JPN90 | Long             | EC               | CORP              | GB        |    515441 | NS      | $4711528.52   | 0.81%             |  |  |  | No            |                  2 | On Loan: No      |
| Ferrovial SE                                           | Ferrovial SE                                           | CUSIP: N/A<br>LEI: 72450022R2ZFL41Y6I04       | Long             | EC               | CORP              | NL        |     80626 | NS      | $5465650.01   | 0.94%             |  |  |  | No            |                  2 | On Loan: No      |
| Loblaw Cos. Ltd.                                       | Loblaw Cos. Ltd.                                       | CUSIP: 539481101<br>LEI: 5493008LN3O1DIDTSH67 | Long             | EC               | CORP              | CA        |     65097 | NS      | $2945385.07   | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Barclays PLC                                           | Barclays PLC                                           | CUSIP: N/A<br>LEI: 213800LBQA1Y9L22JB70       | Long             | EC               | CORP              | GB        |    478007 | NS      | $3199346.41   | 0.55%             |  |  |  | No            |                  2 | On Loan: No      |
| BPER Banca S.p.A.                                      | BPER Banca S.p.A.                                      | CUSIP: N/A<br>LEI: N747OI7JINV7RUUH6190       | Long             | EC               | CORP              | IT        |    621754 | NS      | $8788204.53   | 1.51%             |  |  |  | No            |                  2 | On Loan: No      |
| Sampo OYJ                                              | Sampo OYJ                                              | CUSIP: X75653232<br>LEI: 743700UF3RL386WIDA22 | Long             | EC               | CORP              | FI        |   1246469 | NS      | $13951449.45  | 2.40%             |  |  |  | No            |                  2 | On Loan: No      |
| HD Korea Shipbuilding & Offshore Engineering Co., Ltd. | HD Korea Shipbuilding & Offshore Engineering Co., Ltd. | CUSIP: N/A<br>LEI: 988400DPTJ9KH5R6W540       | Long             | EC               | CORP              | KR        |     10431 | NS      | $2987791.99   | 0.51%             |  |  |  | No            |                  2 | On Loan: No      |
| Rolls-Royce Holdings PLC                               | Rolls-Royce Holdings PLC                               | CUSIP: G76225104<br>LEI: 213800EC7997ZBLZJH69 | Long             | EC               | CORP              | GB        |    688662 | NS      | $11545168.89  | 1.98%             |  |  |  | No            |                  2 | On Loan: No      |
| APR Co., Ltd.                                          | APR Co., Ltd.                                          | CUSIP: Y0R9CJ118<br>LEI: N/A                  | Long             | EC               | CORP              | KR        |     22898 | NS      | $4291839.76   | 0.74%             |  |  |  | No            |                  2 | On Loan: No      |
| BKW AG                                                 | BKW AG                                                 | CUSIP: H10053108<br>LEI: 549300IE30SKTUO98Q38 | Long             | EC               | CORP              | CH        |     17201 | NS      | $3264714.17   | 0.56%             |  |  |  | No            |                  2 | On Loan: No      |
| SpareBank 1 Sor-Norge ASA                              | SpareBank 1 Sor-Norge ASA, Class B                     | CUSIP: R8170W115<br>LEI: 549300Q3OIWRHQUQM052 | Long             | EC               | CORP              | NO        |    155227 | NS      | $3139513.23   | 0.54%             |  |  |  | No            |                  2 | On Loan: No      |
| Unipol Assicurazioni S.p.A.                            | Unipol Assicurazioni S.p.A.                            | CUSIP: T9532W106<br>LEI: 8156005CE5E7340CCA86 | Long             | EC               | CORP              | IT        |    317945 | NS      | $7106891.51   | 1.22%             |  |  |  | No            |                  2 | On Loan: No      |
| Element Fleet Management Corp.                         | Element Fleet Management Corp.                         | CUSIP: 286181201<br>LEI: 5493000PGBS1C22ELQ16 | Long             | EC               | CORP              | CA        |    208100 | NS      | $5301812.95   | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| OceanaGold Corp.                                       | OceanaGold Corp.                                       | CUSIP: 675222400<br>LEI: 549300CBMSE8I9N3E232 | Long             | EC               | CORP              | CA        |    133579 | NS      | $4352180.69   | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Erste Group Bank AG                                    | Erste Group Bank AG                                    | CUSIP: N/A<br>LEI: PQOH26KWDF7CG10L6792       | Long             | EC               | CORP              | AT        |     26132 | NS      | $3409720.15   | 0.59%             |  |  |  | No            |                  2 | On Loan: No      |
| CaixaBank, S.A.                                        | CaixaBank, S.A.                                        | CUSIP: N/A<br>LEI: 7CUNS533WID6K7DGFI87       | Long             | EC               | CORP              | ES        |    379633 | NS      | $5029408.43   | 0.86%             |  |  |  | No            |                  2 | On Loan: No      |
| DPM Metals Inc.                                        | DPM Metals Inc.                                        | CUSIP: 26139R109<br>LEI: 549300LATVTU0EIUMD45 | Long             | EC               | CORP              | CA        |    106466 | NS      | $3735331.88   | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Eurobank S.A.                                          | Eurobank S.A.                                          | CUSIP: X2379U106<br>LEI: 213800KGF4EFNUQKAT69 | Long             | EC               | CORP              | GR        |    743406 | NS      | $3646190.10   | 0.63%             |  |  |  | No            |                  2 | On Loan: No      |
| Piraeus Bank S.A.                                      | Piraeus Bank S.A.                                      | CUSIP: X5S2FJ101<br>LEI: 213800OYHR1MPQ5VJL60 | Long             | EC               | CORP              | GR        |    782310 | NS      | $7920048.47   | 1.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Kinross Gold Corp.                                     | Kinross Gold Corp.                                     | CUSIP: 496902404<br>LEI: 254900O9KHF2A1ZXPT47 | Long             | EC               | CORP              | CA        |    177106 | NS      | $5608171.38   | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Israel Discount Bank Ltd.                              | Israel Discount Bank Ltd., Class A                     | CUSIP: 465074201<br>LEI: 549300XWZ7BG5G23OF51 | Long             | EC               | CORP              | IL        |    345418 | NS      | $4081675.66   | 0.70%             |  |  |  | No            |                  2 | On Loan: No      |
| HSBC Holdings PLC                                      | HSBC Holdings PLC                                      | CUSIP: G4634U169<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | EC               | CORP              | GB        |    181498 | NS      | $3210921.32   | 0.55%             |  |  |  | No            |                  2 | On Loan: No      |
| Zurich Insurance Group Ltd.                            | Zurich Insurance Group Ltd.                            | CUSIP: N/A<br>LEI: 529900QVNRBND50TXP03       | Long             | EC               | CORP              | CH        |      3868 | NS      | $2762500.72   | 0.47%             |  |  |  | No            |                  2 | On Loan: No      |
| Novartis AG                                            | Novartis AG                                            | CUSIP: H5820Q150<br>LEI: 5493007HIVTX6SY6XD66 | Long             | EC               | CORP              | CH        |     22092 | NS      | $3290555.80   | 0.57%             |  |  |  | No            |                  2 | On Loan: No      |
| Ramelius Resources Ltd.                                | Ramelius Resources Ltd.                                | CUSIP: Q7982E108<br>LEI: 254900E44AIGW7KKNR98 | Long             | EC               | CORP              | AU        |   1261078 | NS      | $3907312.12   | 0.67%             |  |  |  | No            |                  2 | On Loan: No      |
| Schindler Holding AG                                   | Schindler Holding AG, PC                               | CUSIP: H7258G209<br>LEI: 5299007DRLI319H7Q933 | Long             | EC               | CORP              | CH        |     32641 | NS      | $12643352.59  | 2.17%             |  |  |  | No            |                  2 | On Loan: No      |
| Hitachi, Ltd.                                          | Hitachi, Ltd.                                          | CUSIP: N/A<br>LEI: 549300T6IPOCDWLKC615       | Long             | EC               | CORP              | JP        |    108388 | NS      | $3773269.05   | 0.65%             |  |  |  | No            |                  2 | On Loan: No      |
| Banco Bilbao Vizcaya Argentaria S.A.                   | Banco Bilbao Vizcaya Argentaria S.A.                   | CUSIP: N/A<br>LEI: K8MS7FD7N5Z2WQ51AZ71       | Long             | EC               | CORP              | ES        |    269818 | NS      | $6873820.93   | 1.18%             |  |  |  | No            |                  2 | On Loan: No      |
| Mitsui & Co., Ltd.                                     | Mitsui & Co., Ltd.                                     | CUSIP: J44690139<br>LEI: 2NRSB4GOU9DD6CNW5R48 | Long             | EC               | CORP              | JP        |    101648 | NS      | $3331098.20   | 0.57%             |  |  |  | No            |                  2 | On Loan: No      |
| MMG Ltd.                                               | MMG Ltd.                                               | CUSIP: Y6133Q102<br>LEI: 529900XB5IQXFMSWEC48 | Long             | EC               | CORP              | HK        |   2921099 | NS      | $3783110.28   | 0.65%             |  |  |  | No            |                  2 | On Loan: No      |
| Yangzijiang Shipbuilding (Holdings) Ltd.               | Yangzijiang Shipbuilding (Holdings) Ltd.               | CUSIP: N/A<br>LEI: 254900Z3JEM14YIGLM66       | Long             | EC               | CORP              | SG        |   2265917 | NS      | $5965545.22   | 1.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Imperial Oil Ltd.                                      | Imperial Oil Ltd.                                      | CUSIP: 453038408<br>LEI: 549300JZNB745JT5WY51 | Long             | EC               | CORP              | CA        |     48105 | NS      | $4887054.50   | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Finning International Inc.                             | Finning International Inc.                             | CUSIP: 318071404<br>LEI: 549300QLDCP11KB6XW55 | Long             | EC               | CORP              | CA        |     54071 | NS      | $3409609.49   | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Halma PLC                                              | Halma PLC                                              | CUSIP: N/A<br>LEI: 2138007FRGLUR9KGBT40       | Long             | EC               | CORP              | GB        |    193862 | NS      | $9442447.41   | 1.62%             |  |  |  | No            |                  2 | On Loan: No      |
| Keppel Ltd.                                            | Keppel Ltd.                                            | CUSIP: N/A<br>LEI: 254900SQ7IPDOY6IDW33       | Long             | EC               | CORP              | SG        |    363332 | NS      | $3133319.05   | 0.54%             |  |  |  | No            |                  2 | On Loan: No      |
| Allianz SE                                             | Allianz SE                                             | CUSIP: N/A<br>LEI: 529900K9B0N5BT694847       | Long             | EC               | CORP              | DE        |      7273 | NS      | $3214081.88   | 0.55%             |  |  |  | No            |                  2 | On Loan: No      |
| Alamos Gold Inc.                                       | Alamos Gold Inc., Class A                              | CUSIP: 011532108<br>LEI: 894500GIHFJZW7YS9660 | Long             | EC               | CORP              | CA        |     89049 | NS      | $3318253.18   | 0.57%             |  |  |  | No            |                  1 | 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