# EDGAR Filing Document

**Accession Number:** 0001209466
**File Stem:** 0001752724-23-075839
**Filing Date:** 2023-3
**Character Count:** 257229
**Document Hash:** 4a39e50f51489c04943964c197df57d6
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-075839.hdr.sgml**: 20230331

**ACCESSION NUMBER**: 0001752724-23-075839

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20230131

**FILED AS OF DATE**: 20230331

**DATE AS OF CHANGE**: 20230331

**PERIOD START**: 20230430

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** INVESCO EXCHANGE-TRADED FUND TRUST
- **CENTRAL INDEX KEY:** 0001209466
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 0430

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-21265
- **FILM NUMBER:** 23785596

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

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

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

## Series and Classes Contracts Data

### Invesco S&P MidCap Momentum ETF (Series ID: S000003056)

| Class ID   | Class Name                      | Ticker Symbol   |
|:---|:---|:---|
| C000008323 | Invesco S&P MidCap Momentum ETF | XMMO            |

## Nport-Ex

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

### Invesco Dynamic Large Cap Growth ETF (PWB)
January 31, 2023

(Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Shares** | &nbsp;&nbsp;**Value** |
| **Common Stocks & Other Equity Interests-100.08%** | **Common Stocks & Other Equity Interests-100.08%** | **Common Stocks & Other Equity Interests-100.08%** |
| **Communication Services-3.30%** | **Communication Services-3.30%** | **Communication Services-3.30%** |
| T-Mobile US, Inc.<sup>(b)</sup><br>| 131410 | &nbsp;&nbsp;$19620827 |
| **Consumer Discretionary-13.77%** | **Consumer Discretionary-13.77%** | **Consumer Discretionary-13.77%** |
| Airbnb, Inc., Class A<sup>(b)</sup><br>| &nbsp;&nbsp;85732 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9525683 |
| AutoZone, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;3411 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8318917 |
| Chipotle Mexican Grill, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;5579 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9185154 |
| Hilton Worldwide Holdings, Inc.<br>| &nbsp;&nbsp;60075 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8716282 |
| Marriott International, Inc., Class A<br>| &nbsp;&nbsp;51838 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9029143 |
| MercadoLibre, Inc. (Brazil)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;8708 | &nbsp;&nbsp;&nbsp;&nbsp;10290156 |
| O'Reilly Automotive, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;10002 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7925085 |
| Tesla, Inc.<sup>(b)</sup><br>| 108534 | &nbsp;&nbsp;&nbsp;&nbsp;18800259 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;81790679 |
| **Consumer Staples-4.62%** | **Consumer Staples-4.62%** | **Consumer Staples-4.62%** |
| Costco Wholesale Corp.<br>| &nbsp;&nbsp;37346 | &nbsp;&nbsp;&nbsp;&nbsp;19089035 |
| Hershey Co. (The)<br>| &nbsp;&nbsp;37220 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8359612 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;27448647 |
| **Energy-13.16%** | **Energy-13.16%** | **Energy-13.16%** |
| Cheniere Energy, Inc.<br>| &nbsp;&nbsp;49972 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7635222 |
| Devon Energy Corp.<br>| 120393 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7613653 |
| EOG Resources, Inc.<br>| &nbsp;&nbsp;60203 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7961847 |
| Exxon Mobil Corp.<br>| 174495 | &nbsp;&nbsp;&nbsp;&nbsp;20243165 |
| Halliburton Co.<br>| 228328 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9411680 |
| Hess Corp.<br>| &nbsp;&nbsp;58206 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8740213 |
| Occidental Petroleum Corp.<br>| 117638 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7621766 |
| Schlumberger Ltd.<br>| 156843 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8936914 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;78164460 |
| **Financials-4.41%** | **Financials-4.41%** | **Financials-4.41%** |
| Aon PLC, Class A<br>| &nbsp;&nbsp;27819 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8865359 |
| Arthur J. Gallagher & Co.<br>| &nbsp;&nbsp;43129 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8441208 |
| Progressive Corp. (The)<br>| &nbsp;&nbsp;65299 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8903519 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;26210086 |
| **Health Care-12.14%** | **Health Care-12.14%** | **Health Care-12.14%** |
| Amgen, Inc.<br>| &nbsp;&nbsp;29172 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7363013 |
| Eli Lilly and Co.<br>| &nbsp;&nbsp;54075 | &nbsp;&nbsp;&nbsp;&nbsp;18609911 |
| Humana, Inc.<br>| &nbsp;&nbsp;15819 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8094582 |
| McKesson Corp.<br>| &nbsp;&nbsp;22666 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8583161 |
| Thermo Fisher Scientific, Inc.<br>| &nbsp;&nbsp;36537 | &nbsp;&nbsp;&nbsp;&nbsp;20838147 |
| Vertex Pharmaceuticals, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;26645 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8609000 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;72097814 |
| **Industrials-6.96%** | **Industrials-6.96%** | **Industrials-6.96%** |
| Caterpillar, Inc.<br>| &nbsp;&nbsp;36220 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9137944 |
| Cintas Corp.<br>| &nbsp;&nbsp;18652 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8276638 |
| CoStar Group, Inc.<sup>(b)</sup><br>| 103733 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8080801 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | &nbsp;&nbsp;**Value** |
| **Industrials-(continued)** | **Industrials-(continued)** | **Industrials-(continued)** |
| Republic Services, Inc.<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62600 | &nbsp;&nbsp;&nbsp;&nbsp;$7813732 |
| Waste Management, Inc.<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52006 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8046888 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41356003 |
| **Information Technology-37.34%** | **Information Technology-37.34%** | **Information Technology-37.34%** |
| Accenture PLC, Class A<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68261 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19048232 |
| Adobe, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59107 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21889686 |
| Amphenol Corp., Class A<br>| &nbsp;&nbsp;&nbsp;&nbsp;105157 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8388374 |
| Apple, Inc.<br>| &nbsp;&nbsp;&nbsp;&nbsp;129277 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18653378 |
| Arista Networks, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61863 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7795975 |
| Automatic Data Processing, Inc.<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32737 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7392342 |
| Broadcom, Inc.<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37967 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22211075 |
| Cadence Design Systems, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50787 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9285387 |
| Enphase Energy, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26872 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5948923 |
| Fortinet, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;160721 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8412137 |
| Mastercard, Inc., Class A<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56904 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21088623 |
| Microsoft Corp.<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81079 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20092187 |
| Paychex, Inc.<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69364 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8036513 |
| salesforce.com, inc.<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;132115 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22191357 |
| Visa, Inc., Class A<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92772 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21357042 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;221791231 |
| **Materials-1.43%** | **Materials-1.43%** | **Materials-1.43%** |
| Albemarle Corp.<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30256 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8515551 |
| **Utilities-2.95%** | **Utilities-2.95%** | **Utilities-2.95%** |
| NextEra Energy, Inc.<br>| &nbsp;&nbsp;&nbsp;&nbsp;235066 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17542976 |
| TOTAL INVESTMENTS IN SECURITIES<br>(excluding investments purchased with cash collateral from securities on loan)-100.08%<br>(Cost $579,999,602) | TOTAL INVESTMENTS IN SECURITIES<br>(excluding investments purchased with cash collateral from securities on loan)-100.08%<br>(Cost $579,999,602) | &nbsp;&nbsp;594538274 |
| **Investments Purchased with Cash Collateral from Securities on Loan** | **Investments Purchased with Cash Collateral from Securities on Loan** | **Investments Purchased with Cash Collateral from Securities on Loan** |
| **Money Market Funds-4.34%** | **Money Market Funds-4.34%** | **Money Market Funds-4.34%** |
| Invesco Private Government Fund, 4.36%<sup>(d)(e)(f)</sup><br>| &nbsp;&nbsp;7214646 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7214646 |
| Invesco Private Prime Fund, 4.59%<sup>(d)(e)(f)</sup><br>| 18550103 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18555667 |
| &nbsp;&nbsp;&nbsp;Total Investments Purchased with Cash Collateral from Securities on Loan<br>(Cost $25,770,320) | &nbsp;&nbsp;&nbsp;Total Investments Purchased with Cash Collateral from Securities on Loan<br>(Cost $25,770,320) | &nbsp;&nbsp;&nbsp;&nbsp;25770313 |
| TOTAL INVESTMENTS IN SECURITIES-104.42%<br>(Cost $605,769,922) | TOTAL INVESTMENTS IN SECURITIES-104.42%<br>(Cost $605,769,922) | &nbsp;&nbsp;620308587 |
| OTHER ASSETS LESS LIABILITIES-(4.42)% | OTHER ASSETS LESS LIABILITIES-(4.42)% | &nbsp;&nbsp;&nbsp;(26253873) |
| NET ASSETS-100.00% | NET ASSETS-100.00% | $594054714 |

---

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

------

### Invesco Dynamic Large Cap Growth ETF (PWB)—(continued)<br>
January 31, 2023

(Unaudited)

---

| | |
|:---|:---|
| 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 the exclusive property and a service mark of MSCI Inc. and Standard & Poor's. |
| <sup>(b)</sup> | Non-income producing security. |
| <sup>(c)</sup> | All or a portion of this security was out on loan at January 31, 2023. |
| <sup>(d)</sup> | Affiliated issuer. The issuer and/or the Fund is a wholly-owned subsidiary of Invesco Ltd., or is affiliated by having an investment adviser that is under common control of Invesco Ltd. The table below shows the Fund's transactions in, and earnings from, its investments in affiliates for the nine months ended January 31, 2023. |

---

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;**Value<br> April 30, 2022** | &nbsp;&nbsp;&nbsp;**Purchases<br> at Cost** | &nbsp;&nbsp;&nbsp;**Proceeds<br> from Sales** | &nbsp;&nbsp;&nbsp;**Change in<br> Unrealized<br> Appreciation<br> (Depreciation)** | &nbsp;&nbsp;&nbsp;**Realized<br> Gain** | &nbsp;&nbsp;&nbsp;**Value<br> January 31, 2023** | &nbsp;&nbsp;&nbsp;**Dividend<br> Income** |
| &nbsp;&nbsp;**Investments in Affiliated Money Market Funds:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Invesco Government & Agency Portfolio, Institutional Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$14052 | &nbsp;&nbsp;&nbsp;&nbsp;$6106742 | &nbsp;&nbsp;&nbsp;&nbsp;$(6120794) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;&nbsp;$4294 |
| &nbsp;&nbsp;**Investments Purchased with Cash Collateral from Securities on Loan:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Invesco Private Government Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6011107 | &nbsp;&nbsp;&nbsp;&nbsp;144756346 | &nbsp;&nbsp;&nbsp;&nbsp;(143552807) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7214646 | &nbsp;&nbsp;&nbsp;&nbsp;134,987\* |
| &nbsp;&nbsp;Invesco Private Prime Fund | &nbsp;&nbsp;&nbsp;&nbsp;14017490 | &nbsp;&nbsp;&nbsp;&nbsp;325435233 | &nbsp;&nbsp;&nbsp;&nbsp;(320907688) | &nbsp;&nbsp;&nbsp;&nbsp;(842) | &nbsp;&nbsp;&nbsp;&nbsp;11474 | &nbsp;&nbsp;&nbsp;&nbsp;18555667 | &nbsp;&nbsp;&nbsp;&nbsp;372,720\* |
| &nbsp;&nbsp;Total | &nbsp;&nbsp;&nbsp;$20042649 | &nbsp;&nbsp;&nbsp;$476298321 | &nbsp;&nbsp;&nbsp;$(470581289) | &nbsp;&nbsp;&nbsp;$(842) | &nbsp;&nbsp;&nbsp;$11474 | &nbsp;&nbsp;&nbsp;$25770313 | &nbsp;&nbsp;&nbsp;$512001 |

---

\* 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.

<sup>(e)</sup> The rate shown is the 7-day SEC standardized yield as of January 31, 2023. <br> <sup>(f)</sup> The security has been segregated to satisfy the commitment to return the cash collateral received in securities lending transactions upon the borrower's return of the securities loaned.

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

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

------

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

### Invesco Dynamic Large Cap Value ETF (PWV)
January 31, 2023

(Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Shares** | &nbsp;&nbsp;**Value** |
| **Common Stocks & Other Equity Interests-99.93%** | **Common Stocks & Other Equity Interests-99.93%** | **Common Stocks & Other Equity Interests-99.93%** |
| **Consumer Discretionary-2.95%** | **Consumer Discretionary-2.95%** | **Consumer Discretionary-2.95%** |
| General Motors Co.<br>| 301344 | &nbsp;&nbsp;$11848846 |
| Ross Stores, Inc.<br>| 111393 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13165539 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25014385 |
| **Consumer Staples-12.29%** | **Consumer Staples-12.29%** | **Consumer Staples-12.29%** |
| Altria Group, Inc.<br>| 271142 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12212236 |
| Archer-Daniels-Midland Co.<br>| 125951 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10435040 |
| General Mills, Inc.<br>| 147891 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11588739 |
| Kraft Heinz Co. (The)<br>| 314566 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12749360 |
| Philip Morris International, Inc.<br>| 291231 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30357919 |
| Walmart, Inc.<br>| 186650 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26853336 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;104196630 |
| **Energy-8.59%** | **Energy-8.59%** | **Energy-8.59%** |
| Energy Transfer L.P.<br>| 984765 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13077679 |
| Kinder Morgan, Inc.<br>| 650620 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11906346 |
| Marathon Petroleum Corp.<br>| &nbsp;&nbsp;98903 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12711013 |
| Pioneer Natural Resources Co.<br>| &nbsp;&nbsp;49079 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11305348 |
| Valero Energy Corp.<br>| &nbsp;&nbsp;87081 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12193952 |
| Williams Cos., Inc. (The)<br>| 358807 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11567938 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72762276 |
| **Financials-23.64%** | **Financials-23.64%** | **Financials-23.64%** |
| Aflac, Inc.<br>| 168930 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12416355 |
| Allstate Corp. (The)<br>| &nbsp;&nbsp;90286 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11599042 |
| American International Group, Inc.<br>| 200341 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12665558 |
| Bank of America Corp.<br>| 754073 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26754510 |
| Chubb Ltd.<br>| &nbsp;&nbsp;57250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13023803 |
| JPMorgan Chase & Co.<br>| 209469 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29317281 |
| MetLife, Inc.<br>| 158745 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11591560 |
| Morgan Stanley<br>| 314337 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30594420 |
| Prudential Financial, Inc.<br>| 111660 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11717600 |
| Travelers Cos., Inc. (The)<br>| &nbsp;&nbsp;64945 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12412288 |
| Wells Fargo & Co.<br>| 603050 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28264954 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;200357371 |
| **Health Care-29.00%** | **Health Care-29.00%** | **Health Care-29.00%** |
| Abbott Laboratories<br>| 269932 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29840983 |
| AbbVie, Inc.<br>| 180926 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26731817 |
| AmerisourceBergen Corp.<br>| &nbsp;&nbsp;73983 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12500168 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | &nbsp;&nbsp;**Value** |
| **Health Care-(continued)** | **Health Care-(continued)** | **Health Care-(continued)** |
| Biogen, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;39731 | &nbsp;&nbsp;$11557748 |
| Bristol-Myers Squibb Co.<br>| 362056 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26303368 |
| Centene Corp.<sup>(b)</sup><br>| 144956 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11051445 |
| Cigna Corp.<br>| &nbsp;&nbsp;37696 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11937192 |
| CVS Health Corp.<br>| 123097 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10859617 |
| Gilead Sciences, Inc.<br>| 143324 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12030617 |
| Johnson & Johnson<br>| 159137 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26006169 |
| Merck & Co., Inc.<br>| 269001 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28893397 |
| Pfizer, Inc.<br>| 581394 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25674359 |
| Regeneron Pharmaceuticals, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;16337 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12391124 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;245778004 |
| **Industrials-8.11%** | **Industrials-8.11%** | **Industrials-8.11%** |
| Northrop Grumman Corp.<br>| &nbsp;&nbsp;23028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10317465 |
| Raytheon Technologies Corp.<br>| 294061 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29361991 |
| United Parcel Service, Inc., Class B<br>| 156656 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29017391 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68696847 |
| **Information Technology-7.65%** | **Information Technology-7.65%** | **Information Technology-7.65%** |
| Cisco Systems, Inc.<br>| 586669 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28553180 |
| Fiserv, Inc.<sup>(b)</sup><br>| 120019 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12803627 |
| International Business Machines Corp.<br>| &nbsp;&nbsp;81179 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10937247 |
| KLA Corp.<br>| &nbsp;&nbsp;31963 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12544838 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64838892 |
| **Materials-3.37%** | **Materials-3.37%** | **Materials-3.37%** |
| Dow, Inc.<br>| 240217 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14256879 |
| Nucor Corp.<br>| &nbsp;&nbsp;84389 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14263429 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28520308 |
| **Utilities-4.33%** | **Utilities-4.33%** | **Utilities-4.33%** |
| American Electric Power Co., Inc.<br>| 131292 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12336196 |
| Consolidated Edison, Inc.<br>| 128127 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12211785 |
| Sempra Energy<br>| &nbsp;&nbsp;75931 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12174017 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36721998 |
| TOTAL INVESTMENTS IN SECURITIES-99.93%<br>(Cost $798,062,623) | TOTAL INVESTMENTS IN SECURITIES-99.93%<br>(Cost $798,062,623) | &nbsp;&nbsp;846886711 |
| OTHER ASSETS LESS LIABILITIES-0.07% | OTHER ASSETS LESS LIABILITIES-0.07% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;621981 |
| NET ASSETS-100.00% | NET ASSETS-100.00% | $847508692 |

---

---

| | |
|:---|:---|
| 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 the exclusive property and a service mark of MSCI Inc. and Standard & Poor's. |
| <sup>(b)</sup> | Non-income producing security. |
| <sup>(c)</sup> | Affiliated issuer. The issuer and/or the Fund is a wholly-owned subsidiary of Invesco Ltd., or is affiliated by having an investment adviser that is under common control of Invesco Ltd. The table below shows the Fund's transactions in, and earnings from, its investments in affiliates for the nine months ended January 31, 2023. |

---

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;**Value<br> April 30, 2022** | &nbsp;&nbsp;&nbsp;**Purchases<br> at Cost** | &nbsp;&nbsp;&nbsp;**Proceeds<br> from Sales** | &nbsp;&nbsp;&nbsp;**Change in<br> Unrealized<br> Appreciation<br> (Depreciation)** | &nbsp;&nbsp;&nbsp;**Realized<br> Gain** | &nbsp;&nbsp;&nbsp;**Value<br> January 31, 2023** | &nbsp;&nbsp;&nbsp;**Dividend<br> Income** |
| &nbsp;&nbsp;**Investments in Affiliated Money Market Funds:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Invesco Government & Agency Portfolio, Institutional Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$91482 | &nbsp;&nbsp;&nbsp;$21026653 | &nbsp;&nbsp;&nbsp;$(21118135) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;$10217 |

---

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

------

### Invesco Dynamic Large Cap Value ETF (PWV)—(continued)<br>
January 31, 2023

(Unaudited)

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;**Value<br> April 30, 2022** | &nbsp;&nbsp;&nbsp;**Purchases<br> at Cost** | &nbsp;&nbsp;&nbsp;**Proceeds<br> from Sales** | &nbsp;&nbsp;&nbsp;**Change in<br> Unrealized<br> Appreciation<br> (Depreciation)** | &nbsp;&nbsp;&nbsp;**Realized<br> Gain** | &nbsp;&nbsp;&nbsp;**Value<br> January 31, 2023** | &nbsp;&nbsp;&nbsp;**Dividend<br> Income** |
| &nbsp;&nbsp;**Investments Purchased with Cash Collateral from Securities on Loan:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Invesco Private Government Fund | &nbsp;&nbsp;&nbsp;$3785178 | &nbsp;&nbsp;&nbsp;$69640531 | &nbsp;&nbsp;&nbsp;$(73425709) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;$70,033\* |
| &nbsp;&nbsp;Invesco Private Prime Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8832210 | &nbsp;&nbsp;&nbsp;&nbsp;169707010 | &nbsp;&nbsp;&nbsp;&nbsp;(178543453) | &nbsp;&nbsp;&nbsp;&nbsp;(1380) | &nbsp;&nbsp;&nbsp;&nbsp;5613 | &nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;193,746\* |
| &nbsp;&nbsp;Total | &nbsp;&nbsp;&nbsp;$12708870 | &nbsp;&nbsp;&nbsp;$260374194 | &nbsp;&nbsp;&nbsp;$(273087297) | &nbsp;&nbsp;&nbsp;$(1380) | &nbsp;&nbsp;&nbsp;$5613 | &nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;$273996 |

---

\* 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.

<sup>(d)</sup> The rate shown is the 7-day SEC standardized yield as of January 31, 2023. <br> <sup>(e)</sup> The security has been segregated to satisfy the commitment to return the cash collateral received in securities lending transactions upon the borrower's return of the securities loaned.

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

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

------

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

### Invesco S&P 100 Equal Weight ETF (EQWL)
January 31, 2023

(Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Shares** | &nbsp;&nbsp;**Value** |
| **Common Stocks & Other Equity Interests-99.95%** | **Common Stocks & Other Equity Interests-99.95%** | **Common Stocks & Other Equity Interests-99.95%** |
| **Communication Services-9.58%** | **Communication Services-9.58%** | **Communication Services-9.58%** |
| Alphabet, Inc., Class A<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;8791 | &nbsp;&nbsp;&nbsp;&nbsp;$868902 |
| Alphabet, Inc., Class C<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;7793 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;778287 |
| AT&T, Inc.<br>| &nbsp;&nbsp;80750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1644877 |
| Charter Communications, Inc., Class A<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;4051 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1556840 |
| Comcast Corp., Class A<br>| &nbsp;&nbsp;43833 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1724829 |
| Meta Platforms, Inc., Class A<sup>(b)</sup><br>| &nbsp;&nbsp;13355 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1989494 |
| Netflix, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;4844 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1714098 |
| T-Mobile US, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;10952 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1635243 |
| Verizon Communications, Inc.<br>| &nbsp;&nbsp;41391 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1720624 |
| Walt Disney Co. (The)<sup>(b)</sup><br>| &nbsp;&nbsp;16602 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1801151 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;15434345 |
| **Consumer Discretionary-11.30%** | **Consumer Discretionary-11.30%** | **Consumer Discretionary-11.30%** |
| Amazon.com, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;17402 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1794668 |
| Booking Holdings, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;768 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1869389 |
| Ford Motor Co.<br>| 116959 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1580116 |
| General Motors Co.<br>| &nbsp;&nbsp;40268 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1583338 |
| Home Depot, Inc. (The)<br>| &nbsp;&nbsp;&nbsp;&nbsp;4839 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1568659 |
| Lowe's Cos., Inc.<br>| &nbsp;&nbsp;&nbsp;&nbsp;7685 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1600401 |
| McDonald's Corp.<br>| &nbsp;&nbsp;&nbsp;&nbsp;5670 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1516158 |
| NIKE, Inc., Class B<br>| &nbsp;&nbsp;14149 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1801592 |
| Starbucks Corp.<br>| &nbsp;&nbsp;15233 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1662530 |
| Target Corp.<br>| &nbsp;&nbsp;10124 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1742745 |
| Tesla, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;8609 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1491251 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;18210847 |
| **Consumer Staples-10.29%** | **Consumer Staples-10.29%** | **Consumer Staples-10.29%** |
| Altria Group, Inc.<br>| &nbsp;&nbsp;33004 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1486500 |
| Coca-Cola Co. (The)<br>| &nbsp;&nbsp;24418 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1497312 |
| Colgate-Palmolive Co.<br>| &nbsp;&nbsp;19900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1483147 |
| Costco Wholesale Corp.<br>| &nbsp;&nbsp;&nbsp;&nbsp;3206 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1638715 |
| Kraft Heinz Co. (The)<br>| &nbsp;&nbsp;38599 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1564418 |
| Mondelez International, Inc., Class A<sup>(c)</sup><br>| &nbsp;&nbsp;22990 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1504466 |
| PepsiCo, Inc.<br>| &nbsp;&nbsp;&nbsp;&nbsp;8418 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1439646 |
| Philip Morris International, Inc.<br>| &nbsp;&nbsp;15100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1574024 |
| Procter & Gamble Co. (The)<br>| &nbsp;&nbsp;10214 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1454269 |
| Walgreens Boots Alliance, Inc.<br>| &nbsp;&nbsp;38128 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1405398 |
| Walmart, Inc.<br>| &nbsp;&nbsp;10608 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1526173 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;16574068 |
| **Energy-3.13%** | **Energy-3.13%** | **Energy-3.13%** |
| Chevron Corp.<br>| &nbsp;&nbsp;&nbsp;&nbsp;9176 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1596807 |
| ConocoPhillips<br>| &nbsp;&nbsp;14067 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1714345 |
| Exxon Mobil Corp.<br>| &nbsp;&nbsp;14955 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1734930 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5046082 |
| **Financials-15.64%** | **Financials-15.64%** | **Financials-15.64%** |
| American Express Co.<br>| &nbsp;&nbsp;10016 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1752099 |
| American International Group, Inc.<br>| &nbsp;&nbsp;24670 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1559637 |
| Bank of America Corp.<br>| &nbsp;&nbsp;47812 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1696370 |
| Bank of New York Mellon Corp. (The)<br>| &nbsp;&nbsp;34628 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1751138 |
| Berkshire Hathaway, Inc., Class B<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;5061 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1576603 |
| BlackRock, Inc.<br>| &nbsp;&nbsp;&nbsp;&nbsp;2190 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1662670 |
| Capital One Financial Corp.<br>| &nbsp;&nbsp;16420 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1953980 |
| Charles Schwab Corp. (The)<br>| &nbsp;&nbsp;19398 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1501793 |
| Citigroup, Inc.<br>| &nbsp;&nbsp;34554 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1804410 |
| Goldman Sachs Group, Inc. (The)<br>| &nbsp;&nbsp;&nbsp;&nbsp;4292 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1570056 |
| JPMorgan Chase & Co.<br>| &nbsp;&nbsp;11718 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1640051 |
| MetLife, Inc.<br>| &nbsp;&nbsp;21449 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1566206 |
| Morgan Stanley<br>| &nbsp;&nbsp;17230 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1676996 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | &nbsp;&nbsp;**Value** |
| **Financials-(continued)** | **Financials-(continued)** | **Financials-(continued)** |
| U.S. Bancorp<br>| 35912 | &nbsp;&nbsp;$1788418 |
| Wells Fargo & Co.<br>| 36272 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1700069 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;25200496 |
| **Health Care-12.74%** | **Health Care-12.74%** | **Health Care-12.74%** |
| Abbott Laboratories<br>| 14397 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1591588 |
| AbbVie, Inc.<br>| &nbsp;&nbsp;9459 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1397567 |
| Amgen, Inc.<br>| &nbsp;&nbsp;5532 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1396277 |
| Bristol-Myers Squibb Co.<br>| 19554 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1420598 |
| CVS Health Corp.<br>| 15166 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1337945 |
| Danaher Corp.<br>| &nbsp;&nbsp;5723 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1513047 |
| Eli Lilly and Co.<br>| &nbsp;&nbsp;4273 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1470553 |
| Gilead Sciences, Inc.<br>| 17525 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1471049 |
| Johnson & Johnson<br>| &nbsp;&nbsp;8773 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1433684 |
| Medtronic PLC<br>| 19616 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1641663 |
| Merck & Co., Inc.<br>| 14228 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1528229 |
| Pfizer, Inc.<br>| 29928 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1321620 |
| Thermo Fisher Scientific, Inc.<br>| &nbsp;&nbsp;2769 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1579244 |
| UnitedHealth Group, Inc.<br>| &nbsp;&nbsp;2863 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1429181 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;20532245 |
| **Industrials-11.96%** | **Industrials-11.96%** | **Industrials-11.96%** |
| 3M Co.<br>| 12256 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1410420 |
| Boeing Co. (The)<sup>(b)</sup><br>| &nbsp;&nbsp;8618 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1835634 |
| Caterpillar, Inc.<br>| &nbsp;&nbsp;6783 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1711283 |
| Emerson Electric Co.<br>| 16370 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1476901 |
| FedEx Corp.<br>| &nbsp;&nbsp;8981 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1741057 |
| General Dynamics Corp.<br>| &nbsp;&nbsp;6241 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1454527 |
| General Electric Co.<br>| 24497 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1971519 |
| Honeywell International, Inc.<br>| &nbsp;&nbsp;7285 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1518777 |
| Lockheed Martin Corp.<br>| &nbsp;&nbsp;3190 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1477799 |
| Raytheon Technologies Corp.<br>| 15689 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1566547 |
| Union Pacific Corp.<br>| &nbsp;&nbsp;7294 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1489362 |
| United Parcel Service, Inc., Class B<br>| &nbsp;&nbsp;8679 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1607611 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;19261437 |
| **Information Technology-17.40%** | **Information Technology-17.40%** | **Information Technology-17.40%** |
| Accenture PLC, Class A<br>| &nbsp;&nbsp;5344 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1491243 |
| Adobe, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;4663 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1726896 |
| Advanced Micro Devices, Inc.<sup>(b)</sup><br>| 22475 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1688996 |
| Apple, Inc.<br>| 10843 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1564537 |
| Broadcom, Inc.<br>| &nbsp;&nbsp;2841 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1662013 |
| Cisco Systems, Inc.<br>| 31811 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1548241 |
| Intel Corp.<br>| 54896 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1551361 |
| International Business Machines Corp.<br>| 10488 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1413048 |
| Mastercard, Inc., Class A<br>| &nbsp;&nbsp;4444 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1646946 |
| Microsoft Corp.<br>| &nbsp;&nbsp;6282 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1556742 |
| NVIDIA Corp.<br>| &nbsp;&nbsp;9069 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1771811 |
| Oracle Corp.<br>| 19380 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1714355 |
| PayPal Holdings, Inc.<sup>(b)</sup><br>| 21071 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1717076 |
| QUALCOMM, Inc.<br>| 12949 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1724936 |
| salesforce.com, inc.<sup>(b)</sup><br>| 11806 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1983054 |
| Texas Instruments, Inc.<br>| &nbsp;&nbsp;8848 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1567954 |
| Visa, Inc., Class A<sup>(c)</sup><br>| &nbsp;&nbsp;7424 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1709079 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;28038288 |
| **Materials-2.09%** | **Materials-2.09%** | **Materials-2.09%** |
| Dow, Inc.<br>| 30873 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1832313 |
| Linde PLC (United Kingdom)<br>| &nbsp;&nbsp;4644 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1536885 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3369198 |

---

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

------

### Invesco S&P 100 Equal Weight ETF (EQWL)—(continued)<br>
January 31, 2023

(Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Shares** | &nbsp;&nbsp;**Value** |
| **Real Estate-2.06%** | **Real Estate-2.06%** | **Real Estate-2.06%** |
| American Tower Corp.<br>| &nbsp;&nbsp;7251 | &nbsp;&nbsp;&nbsp;&nbsp;$1619801 |
| Simon Property Group, Inc.<br>| 13258 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1703123 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3322924 |
| **Utilities-3.76%** | **Utilities-3.76%** | **Utilities-3.76%** |
| Duke Energy Corp.<br>| 15424 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1580189 |
| Exelon Corp.<br>| 37371 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1576682 |
| NextEra Energy, Inc.<br>| 18317 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1366998 |
| Southern Co. (The)<br>| 22647 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1532749 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6056618 |
| TOTAL INVESTMENTS IN SECURITIES<br>(excluding investments purchased with cash collateral from securities on loan)-99.95%<br>(Cost $152,108,804) | TOTAL INVESTMENTS IN SECURITIES<br>(excluding investments purchased with cash collateral from securities on loan)-99.95%<br>(Cost $152,108,804) | &nbsp;&nbsp;161046548 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | &nbsp;&nbsp;**Value** |
| **Investments Purchased with Cash Collateral from Securities on Loan** | **Investments Purchased with Cash Collateral from Securities on Loan** | **Investments Purchased with Cash Collateral from Securities on Loan** |
| **Money Market Funds-2.25%** | **Money Market Funds-2.25%** | **Money Market Funds-2.25%** |
| Invesco Private Government Fund, 4.36%<sup>(d)(e)(f)</sup><br>| 1013259 | &nbsp;&nbsp;&nbsp;&nbsp;$1013259 |
| Invesco Private Prime Fund, 4.59%<sup>(d)(e)(f)</sup><br>| 2605221 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2606002 |
| &nbsp;&nbsp;&nbsp;Total Investments Purchased with Cash Collateral from Securities on Loan<br>(Cost $3,619,261) | &nbsp;&nbsp;&nbsp;Total Investments Purchased with Cash Collateral from Securities on Loan<br>(Cost $3,619,261) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3619261 |
| TOTAL INVESTMENTS IN SECURITIES-102.20%<br>(Cost $155,728,065) | TOTAL INVESTMENTS IN SECURITIES-102.20%<br>(Cost $155,728,065) | &nbsp;&nbsp;164665809 |
| OTHER ASSETS LESS LIABILITIES-(2.20)% | OTHER ASSETS LESS LIABILITIES-(2.20)% | &nbsp;&nbsp;&nbsp;&nbsp;(3539986) |
| NET ASSETS-100.00% | NET ASSETS-100.00% | $161125823 |

---

---

| | |
|:---|:---|
| 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 the exclusive property and a service mark of MSCI Inc. and Standard & Poor's. |
| <sup>(b)</sup> | Non-income producing security. |
| <sup>(c)</sup> | All or a portion of this security was out on loan at January 31, 2023. |
| <sup>(d)</sup> | Affiliated issuer. The issuer and/or the Fund is a wholly-owned subsidiary of Invesco Ltd., or is affiliated by having an investment adviser that is under common control of Invesco Ltd. The table below shows the Fund's transactions in, and earnings from, its investments in affiliates for the nine months ended January 31, 2023. |

---

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;**Value<br> April 30, 2022** | &nbsp;&nbsp;&nbsp;**Purchases<br> at Cost** | &nbsp;&nbsp;&nbsp;**Proceeds<br> from Sales** | &nbsp;&nbsp;&nbsp;**Change in<br> Unrealized<br> Appreciation<br> (Depreciation)** | &nbsp;&nbsp;&nbsp;**Realized<br> Gain** | &nbsp;&nbsp;&nbsp;**Value<br> January 31, 2023** | &nbsp;&nbsp;&nbsp;**Dividend<br> Income** |
| &nbsp;&nbsp;**Investments in Affiliated Money Market Funds:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Invesco Government & Agency Portfolio, Institutional Class | &nbsp;&nbsp;&nbsp;&nbsp;$11989 | &nbsp;&nbsp;&nbsp;$2808494 | &nbsp;&nbsp;&nbsp;$(2820483) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;$1143 |
| &nbsp;&nbsp;**Investments Purchased with Cash Collateral from Securities on Loan:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Invesco Private Government Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;910271 | &nbsp;&nbsp;&nbsp;&nbsp;17925053 | &nbsp;&nbsp;&nbsp;&nbsp;(17822065) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;1013259 | &nbsp;&nbsp;&nbsp;&nbsp;15,045\* |
| &nbsp;&nbsp;Invesco Private Prime Fund | &nbsp;&nbsp;&nbsp;&nbsp;2122133 | &nbsp;&nbsp;&nbsp;&nbsp;32884263 | &nbsp;&nbsp;&nbsp;&nbsp;(32400851) | &nbsp;&nbsp;&nbsp;&nbsp;(146) | &nbsp;&nbsp;&nbsp;&nbsp;603 | &nbsp;&nbsp;&nbsp;&nbsp;2606002 | &nbsp;&nbsp;&nbsp;&nbsp;40,718\* |
| &nbsp;&nbsp;Total | &nbsp;&nbsp;&nbsp;$3044393 | &nbsp;&nbsp;&nbsp;$53617810 | &nbsp;&nbsp;&nbsp;$(53043399) | &nbsp;&nbsp;&nbsp;$(146) | &nbsp;&nbsp;&nbsp;$603 | &nbsp;&nbsp;&nbsp;$3619261 | &nbsp;&nbsp;&nbsp;$56906 |

---

\* 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.

<sup>(e)</sup> The rate shown is the 7-day SEC standardized yield as of January 31, 2023. <br> <sup>(f)</sup> The security has been segregated to satisfy the commitment to return the cash collateral received in securities lending transactions upon the borrower's return of the securities loaned.

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

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

------

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

### Invesco S&P 500 GARP ETF (SPGP)
January 31, 2023

(Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Shares** | &nbsp;&nbsp;**Value** |
| **Common Stocks & Other Equity Interests-99.88%** | **Common Stocks & Other Equity Interests-99.88%** | **Common Stocks & Other Equity Interests-99.88%** |
| **Communication Services-3.71%** | **Communication Services-3.71%** | **Communication Services-3.71%** |
| Alphabet, Inc., Class C<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;390432 | &nbsp;&nbsp;$38992444 |
| Meta Platforms, Inc., Class A<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;325525 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48493459 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87485903 |
| **Consumer Discretionary-10.88%** | **Consumer Discretionary-10.88%** | **Consumer Discretionary-10.88%** |
| D.R. Horton, Inc.<br>| &nbsp;&nbsp;&nbsp;482610 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47628781 |
| Garmin Ltd.<br>| &nbsp;&nbsp;&nbsp;236659 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23400842 |
| Lennar Corp., Class A<br>| &nbsp;&nbsp;&nbsp;256340 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26249216 |
| Pool Corp.<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;107117 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41305386 |
| PulteGroup, Inc.<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;567177 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32266700 |
| Target Corp.<br>| &nbsp;&nbsp;&nbsp;178746 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30769336 |
| Tractor Supply Co.<br>| &nbsp;&nbsp;&nbsp;138496 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31575703 |
| Ulta Beauty, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;45030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23143619 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;256339583 |
| **Consumer Staples-2.00%** | **Consumer Staples-2.00%** | **Consumer Staples-2.00%** |
| Monster Beverage Corp.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp;234459 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24402493 |
| Procter & Gamble Co. (The)<br>| &nbsp;&nbsp;&nbsp;159922 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22769694 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47172187 |
| **Energy-3.66%** | **Energy-3.66%** | **Energy-3.66%** |
| APA Corp.<br>| &nbsp;&nbsp;&nbsp;689594 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30569702 |
| Coterra Energy, Inc.<br>| &nbsp;&nbsp;&nbsp;977388 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24464021 |
| Diamondback Energy, Inc.<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;213308 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31168565 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86202288 |
| **Financials-18.07%** | **Financials-18.07%** | **Financials-18.07%** |
| American International Group, Inc.<br>| &nbsp;&nbsp;&nbsp;515467 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32587824 |
| Arch Capital Group Ltd.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp;567362 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36509745 |
| Assurant, Inc.<br>| &nbsp;&nbsp;&nbsp;221224 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29332090 |
| Capital One Financial Corp.<br>| &nbsp;&nbsp;&nbsp;299525 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35643475 |
| Chubb Ltd.<br>| &nbsp;&nbsp;&nbsp;&nbsp;99399 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22612279 |
| Discover Financial Services<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;310786 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36278050 |
| Loews Corp.<br>| &nbsp;&nbsp;&nbsp;406526 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24993218 |
| Moody's Corp.<br>| &nbsp;&nbsp;&nbsp;&nbsp;78082 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25200965 |
| Regions Financial Corp.<br>| 1028923 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24220847 |
| Signature Bank<br>| &nbsp;&nbsp;&nbsp;211000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27208450 |
| SVB Financial Group<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;176272 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53311704 |
| Synchrony Financial<br>| &nbsp;&nbsp;&nbsp;792997 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29126780 |
| T. Rowe Price Group, Inc.<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;205793 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23968711 |
| Willis Towers Watson PLC<br>| &nbsp;&nbsp;&nbsp;&nbsp;98038 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24920279 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;425914417 |
| **Health Care-26.06%** | **Health Care-26.06%** | **Health Care-26.06%** |
| Abbott Laboratories<br>| &nbsp;&nbsp;&nbsp;243999 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26974089 |
| AbbVie, Inc.<br>| &nbsp;&nbsp;&nbsp;145200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21453300 |
| Bio-Techne Corp.<br>| &nbsp;&nbsp;&nbsp;336163 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26778745 |
| Cigna Corp.<br>| &nbsp;&nbsp;&nbsp;107668 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34095225 |
| Edwards Lifesciences Corp.<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;322597 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24743190 |
| Elevance Health, Inc.<br>| &nbsp;&nbsp;&nbsp;&nbsp;49980 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24989500 |
| Eli Lilly and Co.<br>| &nbsp;&nbsp;&nbsp;&nbsp;66398 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22850872 |
| Hologic, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;543899 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44257062 |
| Humana, Inc.<br>| &nbsp;&nbsp;&nbsp;&nbsp;48025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24574392 |
| IDEXX Laboratories, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;58619 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28166429 |
| Incyte Corp.<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;466577 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39724366 |
| Laboratory Corp. of America Holdings<br>| &nbsp;&nbsp;&nbsp;117942 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29735537 |
| Moderna, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;280136 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49320744 |
| Molina Healthcare, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;66549 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20751975 |
| Pfizer, Inc.<br>| &nbsp;&nbsp;&nbsp;755535 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33364426 |
| Quest Diagnostics, Inc.<br>| &nbsp;&nbsp;&nbsp;198781 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29515003 |
| Regeneron Pharmaceuticals, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;54742 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41520165 |
| Vertex Pharmaceuticals, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;106725 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34482847 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | &nbsp;&nbsp;**Value** |
| **Health Care-(continued)** | **Health Care-(continued)** | **Health Care-(continued)** |
| Waters Corp.<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63289 | &nbsp;&nbsp;&nbsp;&nbsp;$20795500 |
| West Pharmaceutical Services, Inc.<br>| &nbsp;&nbsp;&nbsp;&nbsp;135858 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36083885 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;614177252 |
| **Industrials-8.91%** | **Industrials-8.91%** | **Industrials-8.91%** |
| C.H. Robinson Worldwide, Inc.<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;222181 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22255871 |
| Copart, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;448094 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29847541 |
| Expeditors International of Washington, Inc.<br>| &nbsp;&nbsp;&nbsp;&nbsp;362846 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39241795 |
| Generac Holdings, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;369222 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44528173 |
| J.B. Hunt Transport Services, Inc.<br>| &nbsp;&nbsp;&nbsp;&nbsp;129095 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24405410 |
| Old Dominion Freight Line, Inc.<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75103 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25027323 |
| United Parcel Service, Inc., Class B<br>| &nbsp;&nbsp;&nbsp;&nbsp;133825 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24788405 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;210094518 |
| **Information Technology-18.15%** | **Information Technology-18.15%** | **Information Technology-18.15%** |
| Accenture PLC, Class A<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74432 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20770250 |
| Adobe, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96867 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35873725 |
| Apple, Inc.<br>| &nbsp;&nbsp;&nbsp;&nbsp;215767 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31133020 |
| Applied Materials, Inc.<br>| &nbsp;&nbsp;&nbsp;&nbsp;339141 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37810830 |
| Arista Networks, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;181484 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22870614 |
| KLA Corp.<br>| &nbsp;&nbsp;&nbsp;&nbsp;104911 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41175469 |
| Lam Research Corp.<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81587 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40801659 |
| Microsoft Corp.<br>| &nbsp;&nbsp;&nbsp;&nbsp;112136 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27788422 |
| Qorvo, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;457642 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49727380 |
| QUALCOMM, Inc.<br>| &nbsp;&nbsp;&nbsp;&nbsp;328697 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43785727 |
| Skyworks Solutions, Inc.<br>| &nbsp;&nbsp;&nbsp;&nbsp;313510 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34382642 |
| Teradyne, Inc.<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;408862 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41581265 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;427701003 |
| **Materials-4.88%** | **Materials-4.88%** | **Materials-4.88%** |
| Celanese Corp.<br>| &nbsp;&nbsp;&nbsp;&nbsp;228291 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28125451 |
| CF Industries Holdings, Inc.<br>| &nbsp;&nbsp;&nbsp;&nbsp;315878 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26754866 |
| Mosaic Co. (The)<br>| &nbsp;&nbsp;&nbsp;&nbsp;525068 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26011869 |
| Nucor Corp.<br>| &nbsp;&nbsp;&nbsp;&nbsp;201838 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34114659 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;115006845 |
| **Real Estate-1.22%** | **Real Estate-1.22%** | **Real Estate-1.22%** |
| Weyerhaeuser Co.<br>| &nbsp;&nbsp;&nbsp;&nbsp;834676 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28737895 |
| **Utilities-2.34%** | **Utilities-2.34%** | **Utilities-2.34%** |
| NRG Energy, Inc.<br>| &nbsp;&nbsp;1616008 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55299794 |
| &nbsp;&nbsp;&nbsp;Total Common Stocks & Other Equity Interests<br>(Cost $2,230,326,987) | &nbsp;&nbsp;&nbsp;Total Common Stocks & Other Equity Interests<br>(Cost $2,230,326,987) | &nbsp;&nbsp;2354131685 |
| **Money Market Funds-0.06%** | **Money Market Funds-0.06%** | **Money Market Funds-0.06%** |
| Invesco Government & Agency Portfolio, Institutional Class, 4.30%<sup>(d)(e)</sup><br>(Cost $1,392,130)<br>| &nbsp;&nbsp;1392130 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1392130 |
| TOTAL INVESTMENTS IN SECURITIES<br>(excluding investments purchased with cash collateral from securities on loan)-99.94%<br>(Cost $2,231,719,117) | TOTAL INVESTMENTS IN SECURITIES<br>(excluding investments purchased with cash collateral from securities on loan)-99.94%<br>(Cost $2,231,719,117) | &nbsp;&nbsp;2355523815 |
| **Investments Purchased with Cash Collateral from Securities on Loan** | **Investments Purchased with Cash Collateral from Securities on Loan** | **Investments Purchased with Cash Collateral from Securities on Loan** |
| **Money Market Funds-3.80%** | **Money Market Funds-3.80%** | **Money Market Funds-3.80%** |
| Invesco Private Government Fund, 4.36%<sup>(d)(e)(f)</sup><br>| 25028193 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25028193 |

---

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

------

### Invesco S&P 500 GARP ETF (SPGP)—(continued)<br>
January 31, 2023

(Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Shares** | &nbsp;&nbsp;**Value** |
| **Money Market Funds-(continued)** | **Money Market Funds-(continued)** | **Money Market Funds-(continued)** |
| Invesco Private Prime Fund, 4.59%<sup>(d)(e)(f)</sup><br>| 64413215 | &nbsp;&nbsp;&nbsp;&nbsp;$64432538 |
| &nbsp;&nbsp;&nbsp;Total Investments Purchased with Cash Collateral from Securities on Loan<br>(Cost $89,461,611) | &nbsp;&nbsp;&nbsp;Total Investments Purchased with Cash Collateral from Securities on Loan<br>(Cost $89,461,611) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89460731 |
| TOTAL INVESTMENTS IN SECURITIES-103.74%<br>(Cost $2,321,180,728) | TOTAL INVESTMENTS IN SECURITIES-103.74%<br>(Cost $2,321,180,728) | &nbsp;&nbsp;2444984546 |
| OTHER ASSETS LESS LIABILITIES-(3.74)% | OTHER ASSETS LESS LIABILITIES-(3.74)% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(88147386) |
| NET ASSETS-100.00% | NET ASSETS-100.00% | $2356837160 |

---

---

| | |
|:---|:---|
| 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 the exclusive property and a service mark of MSCI Inc. and Standard & Poor's. |
| <sup>(b)</sup> | Non-income producing security. |
| <sup>(c)</sup> | All or a portion of this security was out on loan at January 31, 2023. |
| <sup>(d)</sup> | Affiliated issuer. The issuer and/or the Fund is a wholly-owned subsidiary of Invesco Ltd., or is affiliated by having an investment adviser that is under common control of Invesco Ltd. The table below shows the Fund's transactions in, and earnings from, its investments in affiliates for the nine months ended January 31, 2023. |

---

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;**Value<br> April 30, 2022** | &nbsp;&nbsp;&nbsp;**Purchases<br> at Cost** | &nbsp;&nbsp;&nbsp;**Proceeds<br> from Sales** | &nbsp;&nbsp;&nbsp;**Change in<br> Unrealized<br> Appreciation<br> (Depreciation)** | &nbsp;&nbsp;&nbsp;**Realized<br> Gain** | &nbsp;&nbsp;&nbsp;**Value<br> January 31, 2023** | &nbsp;&nbsp;&nbsp;**Dividend<br> Income** |
| &nbsp;&nbsp;**Investments in Affiliated Money Market Funds:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Invesco Government & Agency Portfolio, Institutional Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;$20036406 | &nbsp;&nbsp;&nbsp;$(18644276) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;$1392130 | &nbsp;&nbsp;&nbsp;&nbsp;$16296 |
| &nbsp;&nbsp;**Investments Purchased with Cash Collateral from Securities on Loan:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Invesco Private Government Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8620026 | &nbsp;&nbsp;&nbsp;&nbsp;309554845 | &nbsp;&nbsp;&nbsp;&nbsp;(293146678) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;25028193 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;372,645\* |
| &nbsp;&nbsp;Invesco Private Prime Fund | &nbsp;&nbsp;&nbsp;&nbsp;20110514 | &nbsp;&nbsp;&nbsp;&nbsp;600240283 | &nbsp;&nbsp;&nbsp;&nbsp;(555946294) | &nbsp;&nbsp;&nbsp;&nbsp;(1622) | &nbsp;&nbsp;&nbsp;&nbsp;29657 | &nbsp;&nbsp;&nbsp;&nbsp;64432538 | &nbsp;&nbsp;&nbsp;&nbsp;1,056,925\* |
| &nbsp;&nbsp;Total | &nbsp;&nbsp;&nbsp;$28730540 | &nbsp;&nbsp;&nbsp;$929831534 | &nbsp;&nbsp;&nbsp;$(867737248) | &nbsp;&nbsp;&nbsp;$(1622) | &nbsp;&nbsp;&nbsp;$29657 | &nbsp;&nbsp;&nbsp;$90852861 | &nbsp;&nbsp;&nbsp;$1445866 |

---

\* 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.

<sup>(e)</sup> The rate shown is the 7-day SEC standardized yield as of January 31, 2023. <br> <sup>(f)</sup> The security has been segregated to satisfy the commitment to return the cash collateral received in securities lending transactions upon the borrower's return of the securities loaned.

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

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

------

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

### Invesco S&P 500 Value with Momentum ETF (SPVM)
January 31, 2023

(Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Shares** | &nbsp;&nbsp;**Value** |
| **Common Stocks & Other Equity Interests-99.90%** | **Common Stocks & Other Equity Interests-99.90%** | **Common Stocks & Other Equity Interests-99.90%** |
| **Communication Services-3.30%** | **Communication Services-3.30%** | **Communication Services-3.30%** |
| AT&T, Inc.<br>| &nbsp;&nbsp;51897 | &nbsp;&nbsp;$1057142 |
| Interpublic Group of Cos., Inc. (The)<br>| &nbsp;&nbsp;13435 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;489840 |
| Omnicom Group, Inc.<br>| &nbsp;&nbsp;&nbsp;&nbsp;5816 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500118 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2047100 |
| **Consumer Discretionary-4.66%** | **Consumer Discretionary-4.66%** | **Consumer Discretionary-4.66%** |
| Advance Auto Parts, Inc.<br>| &nbsp;&nbsp;&nbsp;&nbsp;3520 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;536026 |
| Dollar Tree, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;2624 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;394072 |
| Ford Motor Co.<br>| 101306 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1368644 |
| LKQ Corp.<br>| &nbsp;&nbsp;&nbsp;&nbsp;9948 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;586534 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2885276 |
| **Consumer Staples-7.15%** | **Consumer Staples-7.15%** | **Consumer Staples-7.15%** |
| Archer-Daniels-Midland Co.<br>| &nbsp;&nbsp;&nbsp;&nbsp;8080 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;669428 |
| Conagra Brands, Inc.<br>| &nbsp;&nbsp;10666 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;396668 |
| JM Smucker Co. (The)<br>| &nbsp;&nbsp;&nbsp;&nbsp;2556 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;390557 |
| Kraft Heinz Co. (The)<br>| &nbsp;&nbsp;15462 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;626675 |
| Kroger Co. (The)<br>| &nbsp;&nbsp;17939 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800618 |
| Molson Coors Beverage Co., Class B<br>| &nbsp;&nbsp;14196 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;746426 |
| Sysco Corp.<br>| &nbsp;&nbsp;&nbsp;&nbsp;4839 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;374829 |
| Walmart, Inc.<br>| &nbsp;&nbsp;&nbsp;&nbsp;2928 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;421251 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4426452 |
| **Energy-19.94%** | **Energy-19.94%** | **Energy-19.94%** |
| APA Corp.<br>| &nbsp;&nbsp;14064 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;623457 |
| Chevron Corp.<br>| &nbsp;&nbsp;&nbsp;&nbsp;3344 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;581923 |
| ConocoPhillips<br>| &nbsp;&nbsp;&nbsp;&nbsp;4570 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;556946 |
| Coterra Energy, Inc.<br>| &nbsp;&nbsp;31366 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;785091 |
| Devon Energy Corp.<br>| &nbsp;&nbsp;&nbsp;&nbsp;8513 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;538362 |
| Diamondback Energy, Inc.<br>| &nbsp;&nbsp;&nbsp;&nbsp;5405 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;789779 |
| EOG Resources, Inc.<br>| &nbsp;&nbsp;&nbsp;&nbsp;3345 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;442376 |
| EQT Corp.<br>| &nbsp;&nbsp;19604 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;640463 |
| Exxon Mobil Corp.<br>| &nbsp;&nbsp;&nbsp;&nbsp;6041 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700816 |
| Kinder Morgan, Inc.<br>| &nbsp;&nbsp;30689 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;561609 |
| Marathon Oil Corp.<br>| &nbsp;&nbsp;27811 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;763968 |
| Marathon Petroleum Corp.<br>| &nbsp;&nbsp;11129 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1430299 |
| Occidental Petroleum Corp.<br>| &nbsp;&nbsp;10860 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;703619 |
| Phillips 66<br>| &nbsp;&nbsp;12464 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1249765 |
| Pioneer Natural Resources Co.<br>| &nbsp;&nbsp;&nbsp;&nbsp;2511 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;578409 |
| Valero Energy Corp.<br>| &nbsp;&nbsp;10054 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1407862 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;12354744 |
| **Financials-21.51%** | **Financials-21.51%** | **Financials-21.51%** |
| Aflac, Inc.<br>| &nbsp;&nbsp;&nbsp;&nbsp;8579 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;630557 |
| Allstate Corp. (The)<br>| &nbsp;&nbsp;&nbsp;&nbsp;3379 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;434100 |
| American International Group, Inc.<br>| &nbsp;&nbsp;17502 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1106476 |
| Arch Capital Group Ltd.<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;7124 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;458429 |
| Chubb Ltd.<br>| &nbsp;&nbsp;&nbsp;&nbsp;2220 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;505028 |
| Comerica, Inc.<br>| &nbsp;&nbsp;&nbsp;&nbsp;8572 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;628413 |
| Discover Financial Services<br>| &nbsp;&nbsp;&nbsp;&nbsp;6150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;717890 |
| Everest Re Group Ltd.<br>| &nbsp;&nbsp;&nbsp;&nbsp;1609 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;562651 |
| Globe Life, Inc.<br>| &nbsp;&nbsp;&nbsp;&nbsp;3345 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;404243 |
| Hartford Financial Services Group, Inc. (The)<br>| &nbsp;&nbsp;&nbsp;&nbsp;8065 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;625925 |
| Huntington Bancshares, Inc.<br>| &nbsp;&nbsp;39102 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;593177 |
| Loews Corp.<br>| &nbsp;&nbsp;14650 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900682 |
| M&T Bank Corp.<br>| &nbsp;&nbsp;&nbsp;&nbsp;3777 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;589212 |
| MetLife, Inc.<br>| &nbsp;&nbsp;&nbsp;&nbsp;6774 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;494638 |
| Principal Financial Group, Inc.<br>| &nbsp;&nbsp;&nbsp;&nbsp;9119 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;843963 |
| Prudential Financial, Inc.<br>| &nbsp;&nbsp;&nbsp;&nbsp;4862 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;510218 |
| Raymond James Financial, Inc.<br>| &nbsp;&nbsp;&nbsp;&nbsp;3507 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;395484 |
| Regions Financial Corp.<br>| &nbsp;&nbsp;25894 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;609545 |
| Travelers Cos., Inc. (The)<br>| &nbsp;&nbsp;&nbsp;&nbsp;2888 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;551955 |
| W.R. Berkley Corp.<br>| &nbsp;&nbsp;&nbsp;&nbsp;5183 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;363536 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | &nbsp;&nbsp;**Value** |
| **Financials-(continued)** | **Financials-(continued)** | **Financials-(continued)** |
| Wells Fargo & Co.<br>| 15857 | &nbsp;&nbsp;&nbsp;&nbsp;$743218 |
| Zions Bancorporation N.A.<br>| 12355 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;656792 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;13326132 |
| **Health Care-9.88%** | **Health Care-9.88%** | **Health Care-9.88%** |
| AmerisourceBergen Corp.<br>| &nbsp;&nbsp;4037 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;682091 |
| Centene Corp.<sup>(b)</sup><br>| &nbsp;&nbsp;9882 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;753404 |
| Cigna Corp.<br>| &nbsp;&nbsp;2143 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;678624 |
| CVS Health Corp.<br>| &nbsp;&nbsp;7495 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;661209 |
| Elevance Health, Inc.<br>| &nbsp;&nbsp;&nbsp;&nbsp;925 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;462491 |
| Henry Schein, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;6324 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;544812 |
| Humana, Inc.<br>| &nbsp;&nbsp;&nbsp;&nbsp;840 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;429828 |
| McKesson Corp.<br>| &nbsp;&nbsp;1604 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;607403 |
| Molina Healthcare, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;1429 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;445605 |
| Pfizer, Inc.<br>| &nbsp;&nbsp;9530 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;420845 |
| Quest Diagnostics, Inc.<br>| &nbsp;&nbsp;2945 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;437273 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6123585 |
| **Industrials-6.15%** | **Industrials-6.15%** | **Industrials-6.15%** |
| C.H. Robinson Worldwide, Inc.<br>| &nbsp;&nbsp;7044 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;705597 |
| Cummins, Inc.<br>| &nbsp;&nbsp;1554 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;387785 |
| Huntington Ingalls Industries, Inc.<br>| &nbsp;&nbsp;2263 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;499082 |
| Leidos Holdings, Inc.<br>| &nbsp;&nbsp;3834 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;378953 |
| PACCAR, Inc.<br>| &nbsp;&nbsp;4586 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;501296 |
| Snap-on, Inc.<br>| &nbsp;&nbsp;1664 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;413887 |
| Textron, Inc.<br>| &nbsp;&nbsp;6880 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;501208 |
| Wabtec Corp.<br>| &nbsp;&nbsp;4071 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;422610 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3810418 |
| **Information Technology-3.26%** | **Information Technology-3.26%** | **Information Technology-3.26%** |
| Hewlett Packard Enterprise Co.<br>| 70526 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1137584 |
| HP, Inc.<br>| 30271 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;882097 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2019681 |
| **Materials-6.72%** | **Materials-6.72%** | **Materials-6.72%** |
| CF Industries Holdings, Inc.<br>| &nbsp;&nbsp;5522 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;467713 |
| LyondellBasell Industries N.V., Class A<br>| 12005 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1160764 |
| Mosaic Co. (The)<br>| 20596 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1020326 |
| Nucor Corp.<br>| &nbsp;&nbsp;5962 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1007697 |
| Packaging Corp. of America<br>| &nbsp;&nbsp;3530 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;503731 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4160231 |
| **Real Estate-2.29%** | **Real Estate-2.29%** | **Real Estate-2.29%** |
| Host Hotels & Resorts, Inc.<br>| 24901 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;469384 |
| VICI Properties, Inc.<br>| 11101 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;379432 |
| Weyerhaeuser Co.<br>| 16544 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;569610 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1418426 |
| **Utilities-15.04%** | **Utilities-15.04%** | **Utilities-15.04%** |
| American Electric Power Co., Inc.<br>| &nbsp;&nbsp;4261 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400364 |
| Atmos Energy Corp.<br>| &nbsp;&nbsp;3488 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;409980 |
| CenterPoint Energy, Inc.<br>| 16294 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;490775 |
| CMS Energy Corp.<br>| &nbsp;&nbsp;7249 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;458064 |
| Consolidated Edison, Inc.<br>| &nbsp;&nbsp;4867 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;463874 |
| DTE Energy Co.<br>| &nbsp;&nbsp;4128 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;480375 |
| Duke Energy Corp.<br>| &nbsp;&nbsp;4748 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;486433 |
| Edison International<br>| &nbsp;&nbsp;6557 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;451777 |
| Entergy Corp.<br>| &nbsp;&nbsp;4036 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;437018 |
| Evergy, Inc.<br>| &nbsp;&nbsp;9173 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;574689 |
| Exelon Corp.<br>| 13784 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;581547 |
| FirstEnergy Corp.<br>| 10371 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;424692 |
| NiSource, Inc.<br>| 16439 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;456182 |
| NRG Energy, Inc.<br>| 38318 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1311242 |
| PG&E Corp.<sup>(b)</sup><br>| 38079 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;605456 |
| Pinnacle West Capital Corp.<br>| &nbsp;&nbsp;7233 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;539220 |

---

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

------

### Invesco S&P 500 Value with Momentum ETF (SPVM)—(continued)<br>
January 31, 2023

(Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Shares** | &nbsp;&nbsp;**Value** |
| **Utilities-(continued)** | **Utilities-(continued)** | **Utilities-(continued)** |
| Sempra Energy<br>| &nbsp;&nbsp;2325 | &nbsp;&nbsp;&nbsp;&nbsp;$372767 |
| Southern Co. (The)<br>| &nbsp;&nbsp;5476 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;370616 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9315071 |
| &nbsp;&nbsp;&nbsp;Total Common Stocks & Other Equity Interests<br>(Cost $59,300,587) | &nbsp;&nbsp;&nbsp;Total Common Stocks & Other Equity Interests<br>(Cost $59,300,587) | &nbsp;&nbsp;61887116 |
| **Money Market Funds-0.11%** | **Money Market Funds-0.11%** | **Money Market Funds-0.11%** |
| Invesco Government & Agency Portfolio, Institutional Class, 4.30%<sup>(c)(d)</sup><br>(Cost $68,381)<br>| 68381 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68381 |
| TOTAL INVESTMENTS IN SECURITIES-100.01%<br>(Cost $59,368,968) | TOTAL INVESTMENTS IN SECURITIES-100.01%<br>(Cost $59,368,968) | &nbsp;&nbsp;61955497 |
| OTHER ASSETS LESS LIABILITIES-(0.01)% | OTHER ASSETS LESS LIABILITIES-(0.01)% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8336) |
| NET ASSETS-100.00% | NET ASSETS-100.00% | $61947161 |

---

---

| | |
|:---|:---|
| 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 the exclusive property and a service mark of MSCI Inc. and Standard & Poor's. |
| <sup>(b)</sup> | Non-income producing security. |
| <sup>(c)</sup> | Affiliated issuer. The issuer and/or the Fund is a wholly-owned subsidiary of Invesco Ltd., or is affiliated by having an investment adviser that is under common control of Invesco Ltd. The table below shows the Fund's transactions in, and earnings from, its investments in affiliates for the nine months ended January 31, 2023. |

---

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;**Value<br> April 30, 2022** | &nbsp;&nbsp;&nbsp;**Purchases<br> at Cost** | &nbsp;&nbsp;&nbsp;**Proceeds<br> from Sales** | &nbsp;&nbsp;&nbsp;**Change in<br> Unrealized<br> Appreciation** | &nbsp;&nbsp;&nbsp;**Realized<br> Gain<br> (Loss)** | &nbsp;&nbsp;&nbsp;**Value<br> January 31, 2023** | &nbsp;&nbsp;&nbsp;**Dividend<br> Income** |
| &nbsp;&nbsp;Invesco Ltd. | &nbsp;&nbsp;&nbsp;$618818 | &nbsp;&nbsp;&nbsp;&nbsp;$32269 | &nbsp;&nbsp;&nbsp;$(569591) | &nbsp;&nbsp;&nbsp;$197725 | &nbsp;&nbsp;&nbsp;$(279221) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;$6313 |
| &nbsp;&nbsp;**Investments in Affiliated Money Market Funds:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Invesco Government & Agency Portfolio, Institutional Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79573 | &nbsp;&nbsp;&nbsp;&nbsp;1343607 | &nbsp;&nbsp;&nbsp;&nbsp;(1354799) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;68381 | &nbsp;&nbsp;&nbsp;&nbsp;1131 |
| &nbsp;&nbsp;**Investments Purchased with Cash Collateral from Securities on Loan:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Invesco Private Government Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;220187 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(220187) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;185\* |
| &nbsp;&nbsp;Invesco Private Prime Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;561880 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(561934) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500\* |
| &nbsp;&nbsp;Total | &nbsp;&nbsp;&nbsp;$698391 | &nbsp;&nbsp;&nbsp;$2157943 | &nbsp;&nbsp;&nbsp;$(2706511) | &nbsp;&nbsp;&nbsp;$197725 | &nbsp;&nbsp;&nbsp;$(279167) | &nbsp;&nbsp;&nbsp;$68381 | &nbsp;&nbsp;&nbsp;$8129 |

---

\* 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.

<sup>(d)</sup> The rate shown is the 7-day SEC standardized yield as of January 31, 2023.

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

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

------

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

### Invesco S&P MidCap Momentum ETF (XMMO)
January 31, 2023

(Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Shares** | &nbsp;&nbsp;**Value** |
| **Common Stocks & Other Equity Interests-99.96%** | **Common Stocks & Other Equity Interests-99.96%** | **Common Stocks & Other Equity Interests-99.96%** |
| **Communication Services-1.06%** | **Communication Services-1.06%** | **Communication Services-1.06%** |
| World Wrestling Entertainment, Inc., Class A<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;137126 | &nbsp;&nbsp;$11603602 |
| **Consumer Discretionary-6.60%** | **Consumer Discretionary-6.60%** | **Consumer Discretionary-6.60%** |
| H&R Block, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;607167 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23667369 |
| Murphy USA, Inc.<br>| &nbsp;&nbsp;&nbsp;&nbsp;81734 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22234100 |
| Service Corp. International<br>| &nbsp;&nbsp;&nbsp;355065 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26328070 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72229539 |
| **Consumer Staples-5.58%** | **Consumer Staples-5.58%** | **Consumer Staples-5.58%** |
| BJ's Wholesale Club Holdings, Inc.<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;291712 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21140368 |
| Coca-Cola Consolidated, Inc.<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8873 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4496659 |
| Flowers Foods, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;515377 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14270789 |
| Grocery Outlet Holding Corp.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp;186107 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5655792 |
| Pilgrim's Pride Corp.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp;122210 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2967259 |
| Post Holdings, Inc.<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;132242 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12556378 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61087245 |
| **Energy-15.26%** | **Energy-15.26%** | **Energy-15.26%** |
| CNX Resources Corp.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp;468842 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7843727 |
| DT Midstream, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;282788 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15457192 |
| HF Sinclair Corp.<br>| &nbsp;&nbsp;&nbsp;453879 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25825715 |
| Matador Resources Co.<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;366034 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24216809 |
| Murphy Oil Corp.<br>| &nbsp;&nbsp;&nbsp;397639 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17341037 |
| NOV, Inc.<br>| &nbsp;&nbsp;&nbsp;834225 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20388459 |
| PDC Energy, Inc.<br>| &nbsp;&nbsp;&nbsp;278356 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18853052 |
| Range Resources Corp.<br>| &nbsp;&nbsp;&nbsp;942702 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23586404 |
| Southwestern Energy Co.<sup>(c)</sup><br>| 2434169 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13436613 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;166949008 |
| **Financials-12.99%** | **Financials-12.99%** | **Financials-12.99%** |
| American Financial Group, Inc.<br>| &nbsp;&nbsp;&nbsp;165446 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23590945 |
| Cathay General Bancorp<br>| &nbsp;&nbsp;&nbsp;131065 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5761617 |
| Cullen/Frost Bankers, Inc.<br>| &nbsp;&nbsp;&nbsp;146888 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19136569 |
| Fulton Financial Corp.<br>| &nbsp;&nbsp;&nbsp;301078 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5037035 |
| Hancock Whitney Corp.<br>| &nbsp;&nbsp;&nbsp;146279 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7530443 |
| Home BancShares, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;335676 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8012586 |
| International Bancshares Corp.<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;98135 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4599588 |
| Kinsale Capital Group, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;53688 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14948887 |
| Prosperity Bancshares, Inc.<br>| &nbsp;&nbsp;&nbsp;164054 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12445136 |
| United Bankshares, Inc.<br>| &nbsp;&nbsp;&nbsp;262141 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10538068 |
| Unum Group<br>| &nbsp;&nbsp;&nbsp;368170 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15474185 |
| Washington Federal, Inc.<br>| &nbsp;&nbsp;&nbsp;104059 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3689932 |
| Wintrust Financial Corp.<br>| &nbsp;&nbsp;&nbsp;124687 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11405120 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;142170111 |
| **Health Care-7.57%** | **Health Care-7.57%** | **Health Care-7.57%** |
| Acadia Healthcare Co., Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp;219856 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18472302 |
| Exelixis, Inc.<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;635660 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11200329 |
| Halozyme Therapeutics, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp;245519 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12710519 |
| Option Care Health, Inc.<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;497490 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14362536 |
| United Therapeutics Corp.<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;99073 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26073042 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82818728 |
| **Industrials-23.94%** | **Industrials-23.94%** | **Industrials-23.94%** |
| AECOM<br>| &nbsp;&nbsp;&nbsp;252478 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22033755 |
| Avis Budget Group, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;68732 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13749149 |
| Builders FirstSource, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp;433119 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34519584 |
| CACI International, Inc., Class A<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;42954 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13233698 |
| Carlisle Cos., Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;185189 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46456513 |
| Chart Industries, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;64444 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8634207 |
| Curtiss-Wright Corp.<br>| &nbsp;&nbsp;&nbsp;&nbsp;86742 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14381824 |
| Dycom Industries, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;74749 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7128812 |
| Fluor Corp.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp;379977 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13964155 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | &nbsp;&nbsp;**Value** |
| **Industrials-(continued)** | **Industrials-(continued)** | **Industrials-(continued)** |
| FTI Consulting, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63354 | &nbsp;&nbsp;&nbsp;&nbsp;$10106230 |
| Insperity, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59799 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6610780 |
| KBR, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;409535 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20980478 |
| Knight-Swift Transportation Holdings, Inc.<br>| &nbsp;&nbsp;&nbsp;&nbsp;258561 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15280955 |
| nVent Electric PLC<br>| &nbsp;&nbsp;&nbsp;&nbsp;292380 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11622105 |
| Science Applications International Corp.<br>| &nbsp;&nbsp;&nbsp;&nbsp;100153 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10393878 |
| Valmont Industries, Inc.<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39118 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12898378 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;261994501 |
| **Information Technology-2.88%** | **Information Technology-2.88%** | **Information Technology-2.88%** |
| Aspen Technology, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73701 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14648073 |
| Avnet, Inc.<br>| &nbsp;&nbsp;&nbsp;&nbsp;187934 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8622412 |
| Belden, Inc.<br>| &nbsp;&nbsp;&nbsp;&nbsp;101821 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8256665 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31527150 |
| **Materials-9.19%** | **Materials-9.19%** | **Materials-9.19%** |
| Alcoa Corp.<br>| &nbsp;&nbsp;&nbsp;&nbsp;306342 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16003306 |
| Ashland, Inc.<br>| &nbsp;&nbsp;&nbsp;&nbsp;106787 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11668615 |
| Cabot Corp.<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;146228 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11015355 |
| Commercial Metals Co.<br>| &nbsp;&nbsp;&nbsp;&nbsp;230213 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12493659 |
| Greif, Inc., Class A<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3716003 |
| Louisiana-Pacific Corp.<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;117909 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8028424 |
| Reliance Steel & Aluminum Co.<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;129677 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29495034 |
| Silgan Holdings, Inc.<br>| &nbsp;&nbsp;&nbsp;&nbsp;151495 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8164066 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100584462 |
| **Real Estate-5.14%** | **Real Estate-5.14%** | **Real Estate-5.14%** |
| Healthcare Realty Trust, Inc.<br>| &nbsp;&nbsp;&nbsp;&nbsp;760187 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16366826 |
| Independence Realty Trust, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;441008 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8304181 |
| Life Storage, Inc.<br>| &nbsp;&nbsp;&nbsp;&nbsp;139146 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15033334 |
| Rexford Industrial Realty, Inc.<br>| &nbsp;&nbsp;&nbsp;&nbsp;261045 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16568526 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56272867 |
| **Utilities-9.75%** | **Utilities-9.75%** | **Utilities-9.75%** |
| Black Hills Corp.<br>| &nbsp;&nbsp;&nbsp;&nbsp;144899 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10487790 |
| IDACORP, Inc.<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87241 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9230970 |
| National Fuel Gas Co.<br>| &nbsp;&nbsp;&nbsp;&nbsp;343942 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19969273 |
| New Jersey Resources Corp.<br>| &nbsp;&nbsp;&nbsp;&nbsp;253498 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12654620 |
| OGE Energy Corp.<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;642234 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25252641 |
| ONE Gas, Inc.<br>| &nbsp;&nbsp;&nbsp;&nbsp;120605 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9933028 |
| Ormat Technologies, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91057 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8427325 |
| Southwest Gas Holdings, Inc.<br>| &nbsp;&nbsp;&nbsp;&nbsp;160941 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10771781 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;106727428 |
| &nbsp;&nbsp;&nbsp;Total Common Stocks & Other Equity Interests<br>(Cost $1,042,242,470) | &nbsp;&nbsp;&nbsp;Total Common Stocks & Other Equity Interests<br>(Cost $1,042,242,470) | &nbsp;&nbsp;1093964641 |
| **Money Market Funds-0.04%** | **Money Market Funds-0.04%** | **Money Market Funds-0.04%** |
| Invesco Government & Agency Portfolio, Institutional Class, 4.30%<sup>(d)(e)</sup><br>(Cost $384,820)<br>| &nbsp;&nbsp;&nbsp;&nbsp;384820 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;384820 |
| TOTAL INVESTMENTS IN SECURITIES<br>(excluding investments purchased with cash collateral from securities on loan)-100.00%<br>(Cost $1,042,627,290) | TOTAL INVESTMENTS IN SECURITIES<br>(excluding investments purchased with cash collateral from securities on loan)-100.00%<br>(Cost $1,042,627,290) | &nbsp;&nbsp;1094349461 |
| **Investments Purchased with Cash Collateral from Securities on Loan** | **Investments Purchased with Cash Collateral from Securities on Loan** | **Investments Purchased with Cash Collateral from Securities on Loan** |
| **Money Market Funds-11.05%** | **Money Market Funds-11.05%** | **Money Market Funds-11.05%** |
| Invesco Private Government Fund, 4.36%<sup>(d)(e)(f)</sup><br>| 33861761 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33861761 |

---

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

------

### Invesco S&P MidCap Momentum ETF (XMMO)—(continued)<br>
January 31, 2023

(Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Shares** | &nbsp;&nbsp;**Value** |
| **Money Market Funds-(continued)** | **Money Market Funds-(continued)** | **Money Market Funds-(continued)** |
| Invesco Private Prime Fund, 4.59%<sup>(d)(e)(f)</sup><br>| 87065909 | &nbsp;&nbsp;&nbsp;&nbsp;$87092028 |
| &nbsp;&nbsp;&nbsp;Total Investments Purchased with Cash Collateral from Securities on Loan<br>(Cost $120,949,919) | &nbsp;&nbsp;&nbsp;Total Investments Purchased with Cash Collateral from Securities on Loan<br>(Cost $120,949,919) | &nbsp;&nbsp;&nbsp;&nbsp;120953789 |
| TOTAL INVESTMENTS IN SECURITIES-111.05%<br>(Cost $1,163,577,209) | TOTAL INVESTMENTS IN SECURITIES-111.05%<br>(Cost $1,163,577,209) | &nbsp;&nbsp;1215303250 |
| OTHER ASSETS LESS LIABILITIES-(11.05)% | OTHER ASSETS LESS LIABILITIES-(11.05)% | &nbsp;&nbsp;&nbsp;&nbsp;(120940342) |
| NET ASSETS-100.00% | NET ASSETS-100.00% | $1094362908 |

---

---

| | |
|:---|:---|
| 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 the exclusive property and a service mark of MSCI Inc. and Standard & Poor's. |
| <sup>(b)</sup> | All or a portion of this security was out on loan at January 31, 2023. |
| <sup>(c)</sup> | Non-income producing security. |
| <sup>(d)</sup> | Affiliated issuer. The issuer and/or the Fund is a wholly-owned subsidiary of Invesco Ltd., or is affiliated by having an investment adviser that is under common control of Invesco Ltd. The table below shows the Fund's transactions in, and earnings from, its investments in affiliates for the nine months ended January 31, 2023. |

---

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;**Value<br> April 30, 2022** | &nbsp;&nbsp;&nbsp;**Purchases<br> at Cost** | &nbsp;&nbsp;&nbsp;**Proceeds<br> from Sales** | &nbsp;&nbsp;&nbsp;**Change in<br> Unrealized<br> Appreciation** | &nbsp;&nbsp;&nbsp;**Realized<br> Gain** | &nbsp;&nbsp;&nbsp;**Value<br> January 31, 2023** | &nbsp;&nbsp;&nbsp;**Dividend<br> Income** |
| &nbsp;&nbsp;**Investments in Affiliated Money Market Funds:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Invesco Government & Agency Portfolio, Institutional Class | &nbsp;&nbsp;&nbsp;&nbsp;$531940 | &nbsp;&nbsp;&nbsp;$25060322 | &nbsp;&nbsp;&nbsp;$(25207442) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$384820 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$9676 |
| &nbsp;&nbsp;**Investments Purchased with Cash Collateral from Securities on Loan:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Invesco Private Government Fund | &nbsp;&nbsp;&nbsp;&nbsp;19658589 | &nbsp;&nbsp;&nbsp;&nbsp;243219570 | &nbsp;&nbsp;&nbsp;&nbsp;(229016398) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33861761 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;685,942\* |
| &nbsp;&nbsp;Invesco Private Prime Fund | &nbsp;&nbsp;&nbsp;&nbsp;45795787 | &nbsp;&nbsp;&nbsp;&nbsp;571097394 | &nbsp;&nbsp;&nbsp;&nbsp;(529826382) | &nbsp;&nbsp;&nbsp;&nbsp;1831 | &nbsp;&nbsp;&nbsp;&nbsp;23398 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87092028 | &nbsp;&nbsp;&nbsp;&nbsp;1,874,783\* |
| &nbsp;&nbsp;Total | &nbsp;&nbsp;&nbsp;$65986316 | &nbsp;&nbsp;&nbsp;$839377286 | &nbsp;&nbsp;&nbsp;$(784050222) | &nbsp;&nbsp;&nbsp;$1831 | &nbsp;&nbsp;&nbsp;$23398 | &nbsp;&nbsp;&nbsp;$121338609 | &nbsp;&nbsp;&nbsp;$2570401 |

---

\* 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.

<sup>(e)</sup> The rate shown is the 7-day SEC standardized yield as of January 31, 2023. <br> <sup>(f)</sup> The security has been segregated to satisfy the commitment to return the cash collateral received in securities lending transactions upon the borrower's return of the securities loaned.

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

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

------

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

### Invesco S&P MidCap Quality ETF (XMHQ)
January 31, 2023

(Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Shares** | &nbsp;&nbsp;**Value** |
| **Common Stocks & Other Equity Interests-99.96%** | **Common Stocks & Other Equity Interests-99.96%** | **Common Stocks & Other Equity Interests-99.96%** |
| **Communication Services-0.86%** | **Communication Services-0.86%** | **Communication Services-0.86%** |
| Ziff Davis, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;41326 | &nbsp;&nbsp;$3697851 |
| **Consumer Discretionary-20.35%** | **Consumer Discretionary-20.35%** | **Consumer Discretionary-20.35%** |
| AutoNation, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;38008 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4816374 |
| Boyd Gaming Corp.<sup>(c)</sup><br>| &nbsp;&nbsp;61001 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3800972 |
| Capri Holdings Ltd.<sup>(b)</sup><br>| 102352 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6805385 |
| Carter's, Inc.<sup>(c)</sup><br>| &nbsp;&nbsp;28665 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2389801 |
| Choice Hotels International, Inc.<sup>(c)</sup><br>| &nbsp;&nbsp;27406 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3367923 |
| Deckers Outdoor Corp.<sup>(b)</sup><br>| &nbsp;&nbsp;18767 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8022517 |
| Dick's Sporting Goods, Inc.<sup>(c)</sup><br>| &nbsp;&nbsp;41858 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5473352 |
| Gentex Corp.<br>| 168013 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4958064 |
| Grand Canyon Education, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;36345 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4236373 |
| Harley-Davidson, Inc.<sup>(c)</sup><br>| &nbsp;&nbsp;96632 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4447971 |
| Light & Wonder, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;95809 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6251537 |
| Macy's, Inc.<br>| 227746 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5381638 |
| PVH Corp.<br>| &nbsp;&nbsp;45735 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4111577 |
| Texas Roadhouse, Inc.<sup>(c)</sup><br>| &nbsp;&nbsp;49719 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4993279 |
| Toll Brothers, Inc.<br>| &nbsp;&nbsp;76253 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4536291 |
| Under Armour, Inc., Class A<sup>(b)(c)</sup><br>| 152490 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1889351 |
| Williams-Sonoma, Inc.<sup>(c)</sup><br>| &nbsp;&nbsp;92266 | &nbsp;&nbsp;&nbsp;&nbsp;12450374 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;87932779 |
| **Consumer Staples-0.48%** | **Consumer Staples-0.48%** | **Consumer Staples-0.48%** |
| Coca-Cola Consolidated, Inc.<br>| &nbsp;&nbsp;&nbsp;&nbsp;4128 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2091988 |
| **Energy-9.79%** | **Energy-9.79%** | **Energy-9.79%** |
| Antero Resources Corp.<sup>(b)</sup><br>| 271677 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7835165 |
| Matador Resources Co.<br>| 107118 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7086927 |
| Murphy Oil Corp.<br>| 136599 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5957082 |
| PBF Energy, Inc., Class A<sup>(c)</sup><br>| 148578 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6238790 |
| PDC Energy, Inc.<br>| 120989 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8194585 |
| Range Resources Corp.<br>| 278909 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6978303 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;42290852 |
| **Financials-8.94%** | **Financials-8.94%** | **Financials-8.94%** |
| American Financial Group, Inc.<br>| &nbsp;&nbsp;54933 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7832896 |
| Essent Group Ltd.<br>| &nbsp;&nbsp;86429 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3805469 |
| Evercore, Inc., Class A<br>| &nbsp;&nbsp;38415 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4986651 |
| Federated Hermes, Inc., Class B<br>| &nbsp;&nbsp;62984 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2475271 |
| Kinsale Capital Group, Inc.<sup>(c)</sup><br>| &nbsp;&nbsp;17682 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4923376 |
| MGIC Investment Corp.<sup>(c)</sup><br>| 227271 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3209067 |
| RLI Corp.<br>| &nbsp;&nbsp;43604 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5775350 |
| SEI Investments Co.<br>| &nbsp;&nbsp;90232 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5633184 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;38641264 |
| **Health Care-10.53%** | **Health Care-10.53%** | **Health Care-10.53%** |
| Acadia Healthcare Co., Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;81418 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6840740 |
| Azenta, Inc.<br>| &nbsp;&nbsp;84960 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4749264 |
| Chemed Corp.<br>| &nbsp;&nbsp;13171 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6653199 |
| Envista Holdings Corp.<sup>(b)(c)</sup><br>| 118588 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4623746 |
| Exelixis, Inc.<sup>(b)(c)</sup><br>| 242701 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4276392 |
| Lantheus Holdings, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;72524 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4170130 |
| Medpace Holdings, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;27787 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6142872 |
| Patterson Cos., Inc.<br>| &nbsp;&nbsp;63267 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1910031 |
| Shockwave Medical, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;32541 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6115430 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;45481804 |
| **Industrials-25.26%** | **Industrials-25.26%** | **Industrials-25.26%** |
| Acuity Brands, Inc.<br>| &nbsp;&nbsp;24680 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4652674 |
| ASGN, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;37522 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3412626 |
| Axon Enterprise, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;59104 | &nbsp;&nbsp;&nbsp;&nbsp;11551286 |
| Crane Holdings Co.<br>| &nbsp;&nbsp;36603 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4242654 |
| Donaldson Co., Inc.<sup>(c)</sup><br>| 103506 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6453599 |
| Graco, Inc.<br>| 126395 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8635306 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | &nbsp;&nbsp;**Value** |
| **Industrials-(continued)** | **Industrials-(continued)** | **Industrials-(continued)** |
| Hubbell, Inc.<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42613 | &nbsp;&nbsp;&nbsp;&nbsp;$9754542 |
| Landstar System, Inc.<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32954 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5695440 |
| Lincoln Electric Holdings, Inc.<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49366 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8237704 |
| MSC Industrial Direct Co., Inc., Class A<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35220 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2912694 |
| Owens Corning<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75294 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7277165 |
| Saia, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20076 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5476331 |
| Terex Corp.<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50165 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2556910 |
| Tetra Tech, Inc.<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39273 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6107737 |
| Toro Co. (The)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83377 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9298203 |
| Trex Co., Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85020 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4482254 |
| Watts Water Technologies, Inc., Class A<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20469 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3347091 |
| XPO, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;126515 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5042888 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;109137104 |
| **Information Technology-12.79%** | **Information Technology-12.79%** | **Information Technology-12.79%** |
| Arrow Electronics, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47464 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5576545 |
| CommVault Systems, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32896 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2047118 |
| Genpact Ltd.<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;123787 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5852650 |
| Jabil, Inc.<br>| &nbsp;&nbsp;&nbsp;&nbsp;106037 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8337689 |
| Lattice Semiconductor Corp.<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;110271 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8357439 |
| MACOM Technology Solutions Holdings, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52994 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3551658 |
| Manhattan Associates, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81322 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10601136 |
| Qualys, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35173 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4057557 |
| Vishay Intertechnology, Inc.<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;100584 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2302368 |
| Western Union Co. (The)<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;321950 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4562032 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55246192 |
| **Materials-9.81%** | **Materials-9.81%** | **Materials-9.81%** |
| Ashland, Inc.<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40086 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4380197 |
| Chemours Co. (The)<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;153425 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5583136 |
| Commercial Metals Co.<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91664 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4974605 |
| Eagle Materials, Inc.<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32831 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4795952 |
| Ingevity Corp.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27054 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2230332 |
| Louisiana-Pacific Corp.<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91901 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6257539 |
| Olin Corp.<br>| &nbsp;&nbsp;&nbsp;&nbsp;130051 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8399994 |
| Royal Gold, Inc.<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45357 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5761700 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42383455 |
| **Real Estate-1.15%** | **Real Estate-1.15%** | **Real Estate-1.15%** |
| Apartment Income REIT Corp.<br>| &nbsp;&nbsp;&nbsp;&nbsp;129517 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4955320 |
| &nbsp;&nbsp;&nbsp;Total Common Stocks & Other Equity Interests<br>(Cost $386,034,562) | &nbsp;&nbsp;&nbsp;Total Common Stocks & Other Equity Interests<br>(Cost $386,034,562) | &nbsp;&nbsp;431858609 |
| **Money Market Funds-0.05%** | **Money Market Funds-0.05%** | **Money Market Funds-0.05%** |
| Invesco Government & Agency Portfolio, Institutional Class, 4.30%<sup>(d)(e)</sup><br>(Cost $215,097)<br>| &nbsp;&nbsp;&nbsp;&nbsp;215097 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;215097 |
| TOTAL INVESTMENTS IN SECURITIES<br>(excluding investments purchased with cash collateral from securities on loan)-100.01%<br>(Cost $386,249,659) | TOTAL INVESTMENTS IN SECURITIES<br>(excluding investments purchased with cash collateral from securities on loan)-100.01%<br>(Cost $386,249,659) | &nbsp;&nbsp;432073706 |
| **Investments Purchased with Cash Collateral from Securities on Loan** | **Investments Purchased with Cash Collateral from Securities on Loan** | **Investments Purchased with Cash Collateral from Securities on Loan** |
| **Money Market Funds-14.89%** | **Money Market Funds-14.89%** | **Money Market Funds-14.89%** |
| Invesco Private Government Fund, 4.36%<sup>(d)(e)(f)</sup><br>| 18011458 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18011458 |

---

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

------

### Invesco S&P MidCap Quality ETF (XMHQ)—(continued)<br>
January 31, 2023

(Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Shares** | &nbsp;&nbsp;**Value** |
| **Money Market Funds-(continued)** | **Money Market Funds-(continued)** | **Money Market Funds-(continued)** |
| Invesco Private Prime Fund, 4.59%<sup>(d)(e)(f)</sup><br>| 46307326 | &nbsp;&nbsp;$46321217 |
| &nbsp;&nbsp;&nbsp;Total Investments Purchased with Cash Collateral from Securities on Loan<br>(Cost $64,332,944) | &nbsp;&nbsp;&nbsp;Total Investments Purchased with Cash Collateral from Securities on Loan<br>(Cost $64,332,944) | &nbsp;&nbsp;&nbsp;&nbsp;64332675 |
| TOTAL INVESTMENTS IN SECURITIES-114.90%<br>(Cost $450,582,603) | TOTAL INVESTMENTS IN SECURITIES-114.90%<br>(Cost $450,582,603) | &nbsp;&nbsp;496406381 |
| OTHER ASSETS LESS LIABILITIES-(14.90)% | OTHER ASSETS LESS LIABILITIES-(14.90)% | &nbsp;&nbsp;&nbsp;(64363035) |
| NET ASSETS-100.00% | NET ASSETS-100.00% | $432043346 |

---

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

---

| | |
|:---|:---|
| 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 the exclusive property and a service mark of MSCI Inc. and Standard & Poor's. |
| <sup>(b)</sup> | Non-income producing security. |
| <sup>(c)</sup> | All or a portion of this security was out on loan at January 31, 2023. |
| <sup>(d)</sup> | Affiliated issuer. The issuer and/or the Fund is a wholly-owned subsidiary of Invesco Ltd., or is affiliated by having an investment adviser that is under common control of Invesco Ltd. The table below shows the Fund's transactions in, and earnings from, its investments in affiliates for the nine months ended January 31, 2023. |

---

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;**Value<br> April 30, 2022** | &nbsp;&nbsp;&nbsp;**Purchases<br> at Cost** | &nbsp;&nbsp;&nbsp;**Proceeds<br> from Sales** | &nbsp;&nbsp;&nbsp;**Change in<br> Unrealized<br> Appreciation<br> (Depreciation)** | &nbsp;&nbsp;&nbsp;**Realized<br> Gain** | &nbsp;&nbsp;&nbsp;**Value<br> January 31, 2023** | &nbsp;&nbsp;&nbsp;**Dividend<br> Income** |
| &nbsp;&nbsp;**Investments in Affiliated Money Market Funds:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Invesco Government & Agency Portfolio, Institutional Class | &nbsp;&nbsp;&nbsp;&nbsp;$250806 | &nbsp;&nbsp;&nbsp;$24967658 | &nbsp;&nbsp;&nbsp;$(25003367) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;&nbsp;$215097 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$7018 |
| &nbsp;&nbsp;**Investments Purchased with Cash Collateral from Securities on Loan:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Invesco Private Government Fund | &nbsp;&nbsp;&nbsp;&nbsp;23130522 | &nbsp;&nbsp;&nbsp;&nbsp;143852816 | &nbsp;&nbsp;&nbsp;&nbsp;(148971880) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;18011458 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;306,842\* |
| &nbsp;&nbsp;Invesco Private Prime Fund | &nbsp;&nbsp;&nbsp;&nbsp;50865558 | &nbsp;&nbsp;&nbsp;&nbsp;310181432 | &nbsp;&nbsp;&nbsp;&nbsp;(314736197) | &nbsp;&nbsp;&nbsp;&nbsp;(3530) | &nbsp;&nbsp;&nbsp;&nbsp;13954 | &nbsp;&nbsp;&nbsp;&nbsp;46321217 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;840,009\* |
| &nbsp;&nbsp;Total | &nbsp;&nbsp;&nbsp;$74246886 | &nbsp;&nbsp;&nbsp;$479001906 | &nbsp;&nbsp;&nbsp;$(488711444) | &nbsp;&nbsp;&nbsp;$(3530) | &nbsp;&nbsp;&nbsp;$13954 | &nbsp;&nbsp;&nbsp;$64547772 | &nbsp;&nbsp;&nbsp;$1153869 |

---

\* 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.

<sup>(e)</sup> The rate shown is the 7-day SEC standardized yield as of January 31, 2023. <br> <sup>(f)</sup> The security has been segregated to satisfy the commitment to return the cash collateral received in securities lending transactions upon the borrower's return of the securities loaned.

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

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

------

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

### Invesco S&P MidCap Value with Momentum ETF (XMVM)
January 31, 2023

(Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Shares** | &nbsp;&nbsp;**Value** |
| **Common Stocks & Other Equity Interests-100.00%** | **Common Stocks & Other Equity Interests-100.00%** | **Common Stocks & Other Equity Interests-100.00%** |
| **Communication Services-2.06%** | **Communication Services-2.06%** | **Communication Services-2.06%** |
| Nexstar Media Group, Inc., Class A<br>| &nbsp;&nbsp;10997 | &nbsp;&nbsp;$2251855 |
| TEGNA, Inc.<br>| 119502 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2381675 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4633530 |
| **Consumer Discretionary-10.95%** | **Consumer Discretionary-10.95%** | **Consumer Discretionary-10.95%** |
| AutoNation, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;35249 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4466753 |
| Dick's Sporting Goods, Inc.<br>| &nbsp;&nbsp;15185 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1985591 |
| Graham Holdings Co., Class B<br>| &nbsp;&nbsp;&nbsp;&nbsp;5204 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3399825 |
| Harley-Davidson, Inc.<br>| &nbsp;&nbsp;39668 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1825918 |
| Macy's, Inc.<br>| 212568 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5022982 |
| Murphy USA, Inc.<br>| &nbsp;&nbsp;&nbsp;&nbsp;8437 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2295117 |
| Nordstrom, Inc.<sup>(c)</sup><br>| 199059 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3889613 |
| Victoria's Secret & Co.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;42298 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1782861 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;24668660 |
| **Consumer Staples-4.18%** | **Consumer Staples-4.18%** | **Consumer Staples-4.18%** |
| Ingredion, Inc.<br>| &nbsp;&nbsp;19156 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1969237 |
| Performance Food Group Co.<sup>(b)</sup><br>| &nbsp;&nbsp;49948 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3062811 |
| Post Holdings, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;27578 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2618531 |
| Sprouts Farmers Market, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;54987 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1756835 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9407414 |
| **Energy-11.98%** | **Energy-11.98%** | **Energy-11.98%** |
| Antero Resources Corp.<sup>(b)</sup><br>| &nbsp;&nbsp;85042 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2452611 |
| HF Sinclair Corp.<br>| &nbsp;&nbsp;84768 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4823299 |
| Matador Resources Co.<br>| &nbsp;&nbsp;31827 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2105674 |
| Murphy Oil Corp.<br>| &nbsp;&nbsp;53606 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2337758 |
| PBF Energy, Inc., Class A<br>| 175001 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7348292 |
| PDC Energy, Inc.<br>| &nbsp;&nbsp;48389 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3277387 |
| Range Resources Corp.<br>| &nbsp;&nbsp;86096 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2154122 |
| Southwestern Energy Co.<sup>(b)</sup><br>| 451785 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2493853 |
| Vitesse Energy, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;26993015 |
| **Financials-31.44%** | **Financials-31.44%** | **Financials-31.44%** |
| Associated Banc-Corp<br>| 107311 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2404840 |
| Bank OZK<sup>(c)</sup><br>| &nbsp;&nbsp;48074 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2195540 |
| Brighthouse Financial, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;99693 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5609725 |
| Cadence Bank<sup>(c)</sup><br>| &nbsp;&nbsp;67739 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1732764 |
| Cathay General Bancorp<br>| &nbsp;&nbsp;44897 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1973672 |
| CNO Financial Group, Inc.<br>| 124698 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3212220 |
| East West Bancorp, Inc.<br>| &nbsp;&nbsp;26595 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2088239 |
| F.N.B. Corp.<sup>(c)</sup><br>| 188842 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2694775 |
| Fulton Financial Corp.<br>| 112265 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1878193 |
| Hancock Whitney Corp.<br>| &nbsp;&nbsp;38824 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1998660 |
| Jefferies Financial Group, Inc.<br>| &nbsp;&nbsp;85659 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3364686 |
| Navient Corp.<sup>(c)</sup><br>| 256602 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4867740 |
| Old National Bancorp<br>| 104987 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1837272 |
| Old Republic International Corp.<br>| 112089 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2958029 |
| Pinnacle Financial Partners, Inc.<br>| &nbsp;&nbsp;26985 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2124529 |
| Prosperity Bancshares, Inc.<br>| &nbsp;&nbsp;30147 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2286951 |
| Reinsurance Group of America, Inc.<br>| &nbsp;&nbsp;13527 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2052993 |
| SLM Corp.<br>| 130337 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2290021 |
| Stifel Financial Corp.<br>| &nbsp;&nbsp;35188 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2372023 |
| Synovus Financial Corp.<br>| &nbsp;&nbsp;51420 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2157069 |
| Texas Capital Bancshares, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;33362 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2204227 |
| United Bankshares, Inc.<br>| &nbsp;&nbsp;42504 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1708661 |
| Unum Group<br>| &nbsp;&nbsp;87151 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3662957 |
| Valley National Bancorp<sup>(c)</sup><br>| 197475 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2346003 |
| Voya Financial, Inc.<sup>(c)</sup><br>| &nbsp;&nbsp;35300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2462881 |
| Washington Federal, Inc.<br>| &nbsp;&nbsp;63554 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2253625 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | &nbsp;&nbsp;**Value** |
| **Financials-(continued)** | **Financials-(continued)** | **Financials-(continued)** |
| Webster Financial Corp.<br>| &nbsp;&nbsp;38077 | &nbsp;&nbsp;&nbsp;&nbsp;$2004754 |
| Wintrust Financial Corp.<br>| &nbsp;&nbsp;22691 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2075546 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70818595 |
| **Industrials-10.51%** | **Industrials-10.51%** | **Industrials-10.51%** |
| AGCO Corp.<br>| &nbsp;&nbsp;13812 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1907852 |
| Avis Budget Group, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;12573 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2515103 |
| Builders FirstSource, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;62438 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4976309 |
| Knight-Swift Transportation Holdings, Inc.<br>| &nbsp;&nbsp;43089 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2546560 |
| MDU Resources Group, Inc.<br>| &nbsp;&nbsp;59067 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1825761 |
| Owens Corning<sup>(c)</sup><br>| &nbsp;&nbsp;29562 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2857167 |
| Ryder System, Inc.<br>| &nbsp;&nbsp;44347 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4186800 |
| Univar Solutions, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;82649 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2849737 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23665289 |
| **Information Technology-8.78%** | **Information Technology-8.78%** | **Information Technology-8.78%** |
| Amkor Technology, Inc.<br>| &nbsp;&nbsp;86406 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2528240 |
| Arrow Electronics, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;49001 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5757128 |
| Avnet, Inc.<br>| 123198 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5652324 |
| Jabil, Inc.<br>| &nbsp;&nbsp;42542 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3345077 |
| Vishay Intertechnology, Inc.<sup>(c)</sup><br>| 109335 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2502678 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19785447 |
| **Materials-15.05%** | **Materials-15.05%** | **Materials-15.05%** |
| Ashland, Inc.<br>| &nbsp;&nbsp;19286 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2107381 |
| Chemours Co. (The)<br>| &nbsp;&nbsp;86711 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3155413 |
| Commercial Metals Co.<br>| &nbsp;&nbsp;68286 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3705881 |
| Greif, Inc., Class A<br>| &nbsp;&nbsp;38943 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2781699 |
| Louisiana-Pacific Corp.<sup>(c)</sup><br>| &nbsp;&nbsp;44129 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3004744 |
| Olin Corp.<br>| &nbsp;&nbsp;43614 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2817028 |
| Reliance Steel & Aluminum Co.<br>| &nbsp;&nbsp;13272 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3018716 |
| United States Steel Corp.<sup>(c)</sup><br>| 230707 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6572842 |
| Westlake Corp.<sup>(c)</sup><br>| &nbsp;&nbsp;30956 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3799849 |
| Worthington Industries, Inc.<br>| &nbsp;&nbsp;51426 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2924597 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33888150 |
| **Real Estate-1.74%** | **Real Estate-1.74%** | **Real Estate-1.74%** |
| PotlatchDeltic Corp.<sup>(c)</sup><br>| &nbsp;&nbsp;43603 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2134367 |
| Sabra Health Care REIT, Inc.<br>| 132315 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1786252 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3920619 |
| **Utilities-3.31%** | **Utilities-3.31%** | **Utilities-3.31%** |
| NorthWestern Corp.<br>| &nbsp;&nbsp;31203 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1772331 |
| OGE Energy Corp.<br>| &nbsp;&nbsp;49298 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1938397 |
| Southwest Gas Holdings, Inc.<br>| &nbsp;&nbsp;28860 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1931600 |
| Spire, Inc.<br>| &nbsp;&nbsp;25192 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1819366 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7461694 |
| &nbsp;&nbsp;&nbsp;Total Common Stocks & Other Equity Interests<br>(Cost $200,349,097) | &nbsp;&nbsp;&nbsp;Total Common Stocks & Other Equity Interests<br>(Cost $200,349,097) | &nbsp;&nbsp;225242413 |
| **Money Market Funds-0.05%** | **Money Market Funds-0.05%** | **Money Market Funds-0.05%** |
| Invesco Government & Agency Portfolio, Institutional Class, 4.30%<sup>(d)(e)</sup><br>(Cost $114,470)<br>| 114470 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;114470 |
| TOTAL INVESTMENTS IN SECURITIES<br>(excluding investments purchased with cash collateral from securities on loan)-100.05%<br>(Cost $200,463,567) | TOTAL INVESTMENTS IN SECURITIES<br>(excluding investments purchased with cash collateral from securities on loan)-100.05%<br>(Cost $200,463,567) | &nbsp;&nbsp;225356883 |

---

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

------

### Invesco S&P MidCap Value with Momentum ETF (XMVM)—(continued)<br>
January 31, 2023

(Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Shares** | &nbsp;&nbsp;**Value** |
| **Investments Purchased with Cash Collateral from Securities on Loan** | **Investments Purchased with Cash Collateral from Securities on Loan** | **Investments Purchased with Cash Collateral from Securities on Loan** |
| **Money Market Funds-11.00%** | **Money Market Funds-11.00%** | **Money Market Funds-11.00%** |
| Invesco Private Government Fund, 4.36%<sup>(d)(e)(f)</sup><br>| &nbsp;&nbsp;6939603 | &nbsp;&nbsp;&nbsp;&nbsp;$6939603 |
| Invesco Private Prime Fund, 4.59%<sup>(d)(e)(f)</sup><br>| 17842336 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17847688 |
| &nbsp;&nbsp;&nbsp;Total Investments Purchased with Cash Collateral from Securities on Loan<br>(Cost $24,787,095) | &nbsp;&nbsp;&nbsp;Total Investments Purchased with Cash Collateral from Securities on Loan<br>(Cost $24,787,095) | &nbsp;&nbsp;&nbsp;&nbsp;24787291 |
| TOTAL INVESTMENTS IN SECURITIES-111.05%<br>(Cost $225,250,662) | TOTAL INVESTMENTS IN SECURITIES-111.05%<br>(Cost $225,250,662) | &nbsp;&nbsp;250144174 |
| OTHER ASSETS LESS LIABILITIES-(11.05)% | OTHER ASSETS LESS LIABILITIES-(11.05)% | &nbsp;&nbsp;&nbsp;(24888650) |
| NET ASSETS-100.00% | NET ASSETS-100.00% | $225255524 |

---

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

---

| | |
|:---|:---|
| 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 the exclusive property and a service mark of MSCI Inc. and Standard & Poor's. |
| <sup>(b)</sup> | Non-income producing security. |
| <sup>(c)</sup> | All or a portion of this security was out on loan at January 31, 2023. |
| <sup>(d)</sup> | Affiliated issuer. The issuer and/or the Fund is a wholly-owned subsidiary of Invesco Ltd., or is affiliated by having an investment adviser that is under common control of Invesco Ltd. The table below shows the Fund's transactions in, and earnings from, its investments in affiliates for the nine months ended January 31, 2023. |

---

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;**Value<br> April 30, 2022** | &nbsp;&nbsp;&nbsp;**Purchases<br> at Cost** | &nbsp;&nbsp;&nbsp;**Proceeds<br> from Sales** | &nbsp;&nbsp;&nbsp;**Change in<br> Unrealized<br> Appreciation<br> (Depreciation)** | &nbsp;&nbsp;&nbsp;**Realized<br> Gain** | &nbsp;&nbsp;&nbsp;**Value<br> January 31, 2023** | &nbsp;&nbsp;&nbsp;**Dividend<br> Income** |
| &nbsp;&nbsp;**Investments in Affiliated Money Market Funds:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Invesco Government & Agency Portfolio, Institutional Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$17751 | &nbsp;&nbsp;&nbsp;&nbsp;$3215646 | &nbsp;&nbsp;&nbsp;&nbsp;$(3118927) | &nbsp;&nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;&nbsp;$114470 | &nbsp;&nbsp;&nbsp;&nbsp;$3016 |
| &nbsp;&nbsp;**Investments Purchased with Cash Collateral from Securities on Loan:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Invesco Private Government Fund | &nbsp;&nbsp;&nbsp;&nbsp;13433427 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99482108 | &nbsp;&nbsp;&nbsp;&nbsp;(105975932) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6939603 | &nbsp;&nbsp;&nbsp;&nbsp;192,226\* |
| &nbsp;&nbsp;Invesco Private Prime Fund | &nbsp;&nbsp;&nbsp;&nbsp;25011750 | &nbsp;&nbsp;&nbsp;&nbsp;213864332 | &nbsp;&nbsp;&nbsp;&nbsp;(221038090) | &nbsp;&nbsp;&nbsp;&nbsp;(73) | &nbsp;&nbsp;&nbsp;&nbsp;9769 | &nbsp;&nbsp;&nbsp;&nbsp;17847688 | &nbsp;&nbsp;&nbsp;&nbsp;531,530\* |
| &nbsp;&nbsp;Total | &nbsp;&nbsp;&nbsp;$38462928 | &nbsp;&nbsp;&nbsp;$316562086 | &nbsp;&nbsp;&nbsp;$(330132949) | &nbsp;&nbsp;&nbsp;$(73) | &nbsp;&nbsp;&nbsp;$9769 | &nbsp;&nbsp;&nbsp;$24901761 | &nbsp;&nbsp;&nbsp;$726772 |

---

\* 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.

<sup>(e)</sup> The rate shown is the 7-day SEC standardized yield as of January 31, 2023. <br> <sup>(f)</sup> The security has been segregated to satisfy the commitment to return the cash collateral received in securities lending transactions upon the borrower's return of the securities loaned.

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

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

------

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

### Invesco S&P SmallCap Momentum ETF (XSMO)
January 31, 2023

(Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Shares** | &nbsp;&nbsp;**Value** |
| **Common Stocks & Other Equity Interests-99.98%** | **Common Stocks & Other Equity Interests-99.98%** | **Common Stocks & Other Equity Interests-99.98%** |
| **Communication Services-1.29%** | **Communication Services-1.29%** | **Communication Services-1.29%** |
| Gogo, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;56204 | &nbsp;&nbsp;&nbsp;&nbsp;$942541 |
| Scholastic Corp.<br>| &nbsp;&nbsp;30620 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1354629 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2297170 |
| **Consumer Discretionary-1.32%** | **Consumer Discretionary-1.32%** | **Consumer Discretionary-1.32%** |
| Movado Group, Inc.<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;8544 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;302116 |
| Perdoceo Education Corp.<sup>(b)</sup><br>| &nbsp;&nbsp;42166 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;631225 |
| Stride, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;33085 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1420339 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2353680 |
| **Consumer Staples-8.83%** | **Consumer Staples-8.83%** | **Consumer Staples-8.83%** |
| Andersons, Inc. (The)<br>| &nbsp;&nbsp;23983 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;882095 |
| Cal-Maine Foods, Inc.<br>| &nbsp;&nbsp;43642 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2497195 |
| Hostess Brands, Inc.<sup>(b)</sup><br>| 150163 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3473270 |
| Inter Parfums, Inc.<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;9329 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1102875 |
| MGP Ingredients, Inc.<sup>(c)</sup><br>| &nbsp;&nbsp;20150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1965431 |
| National Beverage Corp.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;16870 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;745654 |
| SpartanNash Co.<br>| &nbsp;&nbsp;48335 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1531253 |
| United Natural Foods, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;37428 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1557753 |
| Universal Corp.<br>| &nbsp;&nbsp;15645 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;850619 |
| Vector Group Ltd.<br>| &nbsp;&nbsp;87114 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1128126 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;15734271 |
| **Energy-14.06%** | **Energy-14.06%** | **Energy-14.06%** |
| Civitas Resources, Inc.<br>| &nbsp;&nbsp;46596 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3100964 |
| CONSOL Energy, Inc.<br>| &nbsp;&nbsp;43868 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2536886 |
| Helmerich & Payne, Inc.<br>| &nbsp;&nbsp;97017 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4699503 |
| Nabors Industries Ltd.<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;6753 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1198928 |
| Patterson-UTI Energy, Inc.<br>| 249208 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4186694 |
| ProPetro Holding Corp.<sup>(b)</sup><br>| &nbsp;&nbsp;59937 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;596373 |
| Ranger Oil Corp.<sup>(c)</sup><br>| &nbsp;&nbsp;20076 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;843192 |
| RPC, Inc.<br>| &nbsp;&nbsp;83554 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;828856 |
| SM Energy Co.<br>| 144693 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4756059 |
| Talos Energy, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;52358 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1037212 |
| US Silica Holdings, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;46887 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;573897 |
| Vital Energy, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;12082 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;679975 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;25038539 |
| **Financials-26.71%** | **Financials-26.71%** | **Financials-26.71%** |
| American Equity Investment Life Holding Co.<br>| &nbsp;&nbsp;42825 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2040611 |
| Assured Guaranty Ltd.<br>| &nbsp;&nbsp;45214 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2830396 |
| Avantax, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;29715 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;865895 |
| BancFirst Corp.<br>| &nbsp;&nbsp;23248 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2002350 |
| Banner Corp.<br>| &nbsp;&nbsp;23971 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1554040 |
| City Holding Co.<sup>(c)</sup><br>| &nbsp;&nbsp;11196 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1061269 |
| CVB Financial Corp.<br>| 173400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4199748 |
| Encore Capital Group, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;29894 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1665694 |
| EZCORP, Inc., Class A<sup>(b)(c)</sup><br>| &nbsp;&nbsp;44869 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;408757 |
| FB Financial Corp.<br>| &nbsp;&nbsp;21876 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;821663 |
| First Bancorp<br>| 135186 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1818252 |
| First Commonwealth Financial Corp.<br>| &nbsp;&nbsp;62195 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;914888 |
| Genworth Financial, Inc., Class A<sup>(b)</sup><br>| 356326 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1966919 |
| Hanmi Financial Corp.<br>| &nbsp;&nbsp;30208 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;703544 |
| Hope Bancorp, Inc.<br>| &nbsp;&nbsp;78979 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1018039 |
| Independent Bank Corp.<br>| &nbsp;&nbsp;33975 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2707468 |
| Lakeland Financial Corp.<sup>(c)</sup><br>| &nbsp;&nbsp;18275 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1292225 |
| Mr. Cooper Group, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;45683 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2100961 |
| National Bank Holdings Corp., Class A<sup>(c)</sup><br>| &nbsp;&nbsp;21547 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;909930 |
| NBT Bancorp, Inc.<br>| &nbsp;&nbsp;33270 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1307844 |
| Northwest Bancshares, Inc.<br>| &nbsp;&nbsp;89535 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1266025 |
| OFG Bancorp<br>| &nbsp;&nbsp;32806 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;928738 |
| Park National Corp.<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;9918 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1242229 |
| Preferred Bank<br>| &nbsp;&nbsp;11307 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;804267 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | &nbsp;&nbsp;**Value** |
| **Financials-(continued)** | **Financials-(continued)** | **Financials-(continued)** |
| Provident Financial Services, Inc.<br>| 56249 | &nbsp;&nbsp;$1319602 |
| Safety Insurance Group, Inc.<sup>(c)</sup><br>| 11640 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;982300 |
| Seacoast Banking Corp. of Florida<sup>(c)</sup><br>| 41207 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1323157 |
| ServisFirst Bancshares, Inc.<sup>(c)</sup><br>| 36600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2495388 |
| Southside Bancshares, Inc.<sup>(c)</sup><br>| 20263 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;767562 |
| StoneX Group, Inc.<sup>(b)</sup><br>| 14508 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1274963 |
| United Community Banks, Inc.<sup>(c)</sup><br>| 75644 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2461456 |
| United Fire Group, Inc.<br>| 16193 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;509918 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;47566098 |
| **Health Care-8.09%** | **Health Care-8.09%** | **Health Care-8.09%** |
| Amphastar Pharmaceuticals, Inc.<sup>(b)(c)</sup><br>| 43325 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1311015 |
| Corcept Therapeutics, Inc.<sup>(b)</sup><br>| 68700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1570482 |
| CorVel Corp.<sup>(b)</sup><br>| &nbsp;&nbsp;5565 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;991460 |
| Cross Country Healthcare, Inc.<sup>(b)(c)</sup><br>| 28571 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;792845 |
| Cytokinetics, Inc.<sup>(b)</sup><br>| 59408 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2523652 |
| Dynavax Technologies Corp.<sup>(b)(c)</sup><br>| 81518 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;927675 |
| Enanta Pharmaceuticals, Inc.<sup>(b)</sup><br>| 12048 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;643122 |
| Harmony Biosciences Holdings, Inc.<sup>(b)(c)</sup><br>| 35351 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1702858 |
| Prestige Consumer Healthcare, Inc.<sup>(b)</sup><br>| 31270 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2056315 |
| Simulations Plus, Inc.<br>| 11688 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;480844 |
| Supernus Pharmaceuticals, Inc.<sup>(b)</sup><br>| 34241 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1404224 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;14404492 |
| **Industrials-22.20%** | **Industrials-22.20%** | **Industrials-22.20%** |
| AAR Corp.<sup>(b)</sup><br>| 23509 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1209303 |
| Applied Industrial Technologies, Inc.<br>| 22387 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3206042 |
| ArcBest Corp.<br>| 19714 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1645133 |
| Atlas Air Worldwide Holdings, Inc.<sup>(b)(c)</sup><br>| 14118 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1443001 |
| Boise Cascade Co.<br>| 31741 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2379623 |
| Comfort Systems USA, Inc.<br>| 34104 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4127948 |
| Encore Wire Corp.<br>| 20722 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3345153 |
| Forward Air Corp.<br>| 16905 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1823204 |
| Griffon Corp.<br>| 36764 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1502912 |
| Hub Group, Inc., Class A<sup>(b)</sup><br>| 19755 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1684509 |
| Marten Transport Ltd.<br>| 54416 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1202050 |
| Matson, Inc.<br>| 30120 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1991534 |
| Mueller Industries, Inc.<sup>(c)</sup><br>| 63191 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4142170 |
| NV5 Global, Inc.<sup>(b)</sup><br>| 11541 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1538300 |
| Resources Connection, Inc.<br>| 28658 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;494924 |
| Titan International, Inc.<sup>(b)</sup><br>| 51358 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;857165 |
| UFP Industries, Inc.<br>| 43266 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4047534 |
| Veritiv Corp.<sup>(c)</sup><br>| 16556 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2070162 |
| Wabash National Corp.<br>| 31833 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;820018 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;39530685 |
| **Information Technology-10.56%** | **Information Technology-10.56%** | **Information Technology-10.56%** |
| Alpha & Omega Semiconductor Ltd.<sup>(b)(c)</sup><br>| 16837 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;554948 |
| Axcelis Technologies, Inc.<sup>(b)</sup><br>| 32573 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3581401 |
| Clearfield, Inc.<sup>(b)(c)</sup><br>| 14537 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1038814 |
| CSG Systems International, Inc.<br>| 42926 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2561394 |
| Digi International, Inc.<sup>(b)(c)</sup><br>| 30339 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1031223 |
| ePlus, Inc.<sup>(b)(c)</sup><br>| 17636 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;877920 |
| Extreme Networks, Inc.<sup>(b)</sup><br>| 70037 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1262767 |
| NetScout Systems, Inc.<sup>(b)</sup><br>| 49063 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1574922 |
| Onto Innovation, Inc.<sup>(b)</sup><br>| 26780 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2106247 |
| PDF Solutions, Inc.<sup>(b)</sup><br>| 22742 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;722741 |
| Photronics, Inc.<sup>(b)</sup><br>| 62449 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1131576 |
| Sanmina Corp.<sup>(b)(c)</sup><br>| 38891 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2369629 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;18813582 |
| **Materials-4.39%** | **Materials-4.39%** | **Materials-4.39%** |
| AdvanSix, Inc.<br>| 15492 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;669874 |
| American Vanguard Corp.<br>| 24606 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;555850 |

---

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

------

### Invesco S&P SmallCap Momentum ETF (XSMO)—(continued)<br>
January 31, 2023

(Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Shares** | &nbsp;&nbsp;**Value** |
| **Materials-(continued)** | **Materials-(continued)** | **Materials-(continued)** |
| Innospec, Inc.<br>| 16409 | &nbsp;&nbsp;&nbsp;&nbsp;$1854545 |
| Mercer International, Inc. (Germany)<br>| 34215 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;435557 |
| Myers Industries, Inc.<br>| 23884 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;575127 |
| Sylvamo Corp.<sup>(c)</sup><br>| 23561 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1119854 |
| TimkenSteel Corp.<sup>(b)(c)</sup><br>| 31302 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;615710 |
| Warrior Met Coal, Inc.<br>| 52450 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1986806 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7813323 |
| **Real Estate-1.77%** | **Real Estate-1.77%** | **Real Estate-1.77%** |
| Armada Hoffler Properties, Inc.<br>| 43513 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;551745 |
| LTC Properties, Inc.<sup>(c)</sup><br>| 28760 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1097194 |
| NexPoint Residential Trust, Inc.<br>| 13739 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;693819 |
| Saul Centers, Inc.<br>| &nbsp;&nbsp;9121 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;390470 |
| Whitestone REIT<br>| 40139 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;417847 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3151075 |
| **Utilities-0.76%** | **Utilities-0.76%** | **Utilities-0.76%** |
| Chesapeake Utilities Corp.<br>| 10753 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1355738 |
| &nbsp;&nbsp;&nbsp;Total Common Stocks & Other Equity Interests<br>(Cost $170,170,073) | &nbsp;&nbsp;&nbsp;Total Common Stocks & Other Equity Interests<br>(Cost $170,170,073) | &nbsp;&nbsp;178058653 |
| **Money Market Funds-0.03%** | **Money Market Funds-0.03%** | **Money Market Funds-0.03%** |
| Invesco Government & Agency Portfolio, Institutional Class, 4.30%<sup>(d)(e)</sup><br>(Cost $44,621)<br>| 44621 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44621 |
| TOTAL INVESTMENTS IN SECURITIES<br>(excluding investments purchased with cash collateral from securities on loan)-100.01%<br>(Cost $170,214,694) | TOTAL INVESTMENTS IN SECURITIES<br>(excluding investments purchased with cash collateral from securities on loan)-100.01%<br>(Cost $170,214,694) | &nbsp;&nbsp;178103274 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | &nbsp;&nbsp;**Value** |
| **Investments Purchased with Cash Collateral from Securities on Loan** | **Investments Purchased with Cash Collateral from Securities on Loan** | **Investments Purchased with Cash Collateral from Securities on Loan** |
| **Money Market Funds-10.22%** | **Money Market Funds-10.22%** | **Money Market Funds-10.22%** |
| Invesco Private Government Fund, 4.36%<sup>(d)(e)(f)</sup><br>| &nbsp;&nbsp;5090038 | &nbsp;&nbsp;&nbsp;&nbsp;$5090038 |
| Invesco Private Prime Fund, 4.59%<sup>(d)(e)(f)</sup><br>| 13102883 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13106814 |
| &nbsp;&nbsp;&nbsp;Total Investments Purchased with Cash Collateral from Securities on Loan<br>(Cost $18,196,778) | &nbsp;&nbsp;&nbsp;Total Investments Purchased with Cash Collateral from Securities on Loan<br>(Cost $18,196,778) | &nbsp;&nbsp;&nbsp;&nbsp;18196852 |
| TOTAL INVESTMENTS IN SECURITIES-110.23%<br>(Cost $188,411,472) | TOTAL INVESTMENTS IN SECURITIES-110.23%<br>(Cost $188,411,472) | &nbsp;&nbsp;196300126 |
| OTHER ASSETS LESS LIABILITIES-(10.23)% | OTHER ASSETS LESS LIABILITIES-(10.23)% | &nbsp;&nbsp;&nbsp;(18211684) |
| NET ASSETS-100.00% | NET ASSETS-100.00% | $178088442 |

---

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

---

| | |
|:---|:---|
| 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 the exclusive property and a service mark of MSCI Inc. and Standard & Poor's. |
| <sup>(b)</sup> | Non-income producing security. |
| <sup>(c)</sup> | All or a portion of this security was out on loan at January 31, 2023. |
| <sup>(d)</sup> | Affiliated issuer. The issuer and/or the Fund is a wholly-owned subsidiary of Invesco Ltd., or is affiliated by having an investment adviser that is under common control of Invesco Ltd. The table below shows the Fund's transactions in, and earnings from, its investments in affiliates for the nine months ended January 31, 2023. |

---

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;**Value<br> April 30, 2022** | &nbsp;&nbsp;&nbsp;**Purchases<br> at Cost** | &nbsp;&nbsp;&nbsp;**Proceeds<br> from Sales** | &nbsp;&nbsp;&nbsp;**Change in<br> Unrealized<br> Appreciation<br> (Depreciation)** | &nbsp;&nbsp;&nbsp;**Realized<br> Gain** | &nbsp;&nbsp;&nbsp;**Value<br> January 31, 2023** | &nbsp;&nbsp;&nbsp;**Dividend<br> Income** |
| &nbsp;&nbsp;**Investments in Affiliated Money Market Funds:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Invesco Government & Agency Portfolio, Institutional Class | &nbsp;&nbsp;&nbsp;&nbsp;$181679 | &nbsp;&nbsp;&nbsp;&nbsp;$2830385 | &nbsp;&nbsp;&nbsp;&nbsp;$(2967443) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$44621 | &nbsp;&nbsp;&nbsp;&nbsp;$2148 |
| &nbsp;&nbsp;**Investments Purchased with Cash Collateral from Securities on Loan:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Invesco Private Government Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7713992 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42162408 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(44786362) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5090038 | &nbsp;&nbsp;&nbsp;&nbsp;106,659\* |
| &nbsp;&nbsp;Invesco Private Prime Fund | &nbsp;&nbsp;&nbsp;&nbsp;17982141 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91774626 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(96655153) | &nbsp;&nbsp;&nbsp;&nbsp;(775) | &nbsp;&nbsp;&nbsp;&nbsp;5975 | &nbsp;&nbsp;&nbsp;&nbsp;13106814 | &nbsp;&nbsp;&nbsp;&nbsp;294,627\* |
| &nbsp;&nbsp;Total | &nbsp;&nbsp;&nbsp;$25877812 | &nbsp;&nbsp;&nbsp;$136767419 | &nbsp;&nbsp;&nbsp;$(144408958) | &nbsp;&nbsp;&nbsp;$(775) | &nbsp;&nbsp;&nbsp;$5975 | &nbsp;&nbsp;&nbsp;$18241473 | &nbsp;&nbsp;&nbsp;$403434 |

---

\* 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.

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

------

January 31, 2023

(Unaudited)

<sup>(e)</sup> The rate shown is the 7-day SEC standardized yield as of January 31, 2023. <br> <sup>(f)</sup> The security has been segregated to satisfy the commitment to return the cash collateral received in securities lending transactions upon the borrower's return of the securities loaned.

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

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

------

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

### Invesco S&P SmallCap Value with Momentum ETF (XSVM)
January 31, 2023

(Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Shares** | &nbsp;&nbsp;**Value** |
| **Common Stocks & Other Equity Interests-100.00%** | **Common Stocks & Other Equity Interests-100.00%** | **Common Stocks & Other Equity Interests-100.00%** |
| **Communication Services-2.40%** | **Communication Services-2.40%** | **Communication Services-2.40%** |
| Scholastic Corp.<br>| 107451 | &nbsp;&nbsp;&nbsp;&nbsp;$4753632 |
| Telephone & Data Systems, Inc.<sup>(b)</sup><br>| 988618 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13217823 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17971455 |
| **Consumer Discretionary-17.80%** | **Consumer Discretionary-17.80%** | **Consumer Discretionary-17.80%** |
| Academy Sports & Outdoors, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;74902 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4375775 |
| Adtalem Global Education, Inc.<sup>(b)(c)</sup><br>| 137302 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5242190 |
| American Axle & Manufacturing Holdings, Inc.<sup>(c)</sup><br>| 635638 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5638109 |
| Asbury Automotive Group, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;40955 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9010100 |
| Caleres, Inc.<sup>(b)</sup><br>| 300111 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7808888 |
| Cavco Industries, Inc.<sup>(c)</sup><br>| &nbsp;&nbsp;15882 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4226200 |
| Chico's FAS, Inc.<sup>(b)(c)</sup><br>| 975814 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5142541 |
| Designer Brands, Inc., Class A<sup>(b)</sup><br>| 539489 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5562132 |
| Ethan Allen Interiors, Inc.<br>| 176371 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5068903 |
| Genesco, Inc.<sup>(b)(c)</sup><br>| 160994 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7774400 |
| Green Brick Partners, Inc.<sup>(c)</sup><br>| 283397 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8841986 |
| Group 1 Automotive, Inc.<br>| &nbsp;&nbsp;50120 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10718162 |
| Haverty Furniture Cos., Inc., (Acquired 12/16/2022 - 01/26/2023; Cost $5,375,664)<sup>(b)(d)</sup><br>| 175085 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6113968 |
| Motorcar Parts of America, Inc.<sup>(b)(c)</sup><br>| 644521 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9384226 |
| Movado Group, Inc.<sup>(b)</sup><br>| 147359 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5210614 |
| ODP Corp. (The)<sup>(c)</sup><br>| 103656 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5348650 |
| Perdoceo Education Corp.<sup>(c)</sup><br>| 298607 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4470147 |
| Signet Jewelers Ltd.<sup>(b)</sup><br>| &nbsp;&nbsp;70087 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5383383 |
| Sonic Automotive, Inc., Class A<sup>(b)</sup><br>| 181903 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9770010 |
| Winnebago Industries, Inc.<sup>(b)</sup><br>| 124356 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7918990 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;133009374 |
| **Consumer Staples-5.26%** | **Consumer Staples-5.26%** | **Consumer Staples-5.26%** |
| Andersons, Inc. (The)<br>| 273450 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10057491 |
| Seneca Foods Corp., Class A<sup>(c)</sup><br>| 110458 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6903625 |
| SpartanNash Co.<br>| 252912 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8012252 |
| United Natural Foods, Inc.<sup>(b)(c)</sup><br>| 218789 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9105998 |
| Universal Corp.<br>| &nbsp;&nbsp;95730 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5204840 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39284206 |
| **Energy-11.80%** | **Energy-11.80%** | **Energy-11.80%** |
| Callon Petroleum Co.<sup>(b)(c)</sup><br>| 217173 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9240711 |
| Civitas Resources, Inc.<br>| &nbsp;&nbsp;96932 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6450825 |
| Dorian LPG Ltd.<br>| 270238 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5364224 |
| Helix Energy Solutions Group, Inc.<sup>(c)</sup><br>| 692171 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5488916 |
| Oil States International, Inc.<sup>(b)(c)</sup><br>| 870645 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7452721 |
| Par Pacific Holdings, Inc.<sup>(c)</sup><br>| 391828 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10473562 |
| Ranger Oil Corp.<sup>(b)</sup><br>| 137736 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5784912 |
| REX American Resources Corp.<sup>(b)(c)</sup><br>| 127381 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4167906 |
| SM Energy Co.<br>| 134541 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4422363 |
| Talos Energy, Inc.<sup>(b)(c)</sup><br>| 327255 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6482922 |
| US Silica Holdings, Inc.<sup>(c)</sup><br>| 331427 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4056667 |
| Vital Energy, Inc.<sup>(b)(c)</sup><br>| 154277 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8682710 |
| World Fuel Services Corp.<br>| 358064 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10133211 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88201650 |
| **Financials-17.53%** | **Financials-17.53%** | **Financials-17.53%** |
| American Equity Investment Life Holding Co.<br>| 171608 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8177121 |
| Ameris Bancorp<br>| &nbsp;&nbsp;79436 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3746202 |
| Assured Guaranty Ltd.<br>| &nbsp;&nbsp;74336 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4653434 |
| Columbia Banking System, Inc.<br>| 118709 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3669295 |
| Dime Community Bancshares, Inc.<sup>(b)</sup><br>| 114520 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3414986 |
| Encore Capital Group, Inc.<sup>(c)</sup><br>| 139499 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7772884 |
| Enova International, Inc.<sup>(c)</sup><br>| 132230 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6036299 |
| EZCORP, Inc., Class A<sup>(b)(c)</sup><br>| 675253 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6151555 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | &nbsp;&nbsp;**Value** |
| **Financials-(continued)** | **Financials-(continued)** | **Financials-(continued)** |
| First Commonwealth Financial Corp.<br>| &nbsp;&nbsp;&nbsp;256433 | &nbsp;&nbsp;&nbsp;&nbsp;$3772129 |
| First Financial Bancorp<br>| &nbsp;&nbsp;&nbsp;145125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3676016 |
| Genworth Financial, Inc., Class A<sup>(c)</sup><br>| 2152028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11879194 |
| Hanmi Financial Corp.<br>| &nbsp;&nbsp;&nbsp;165033 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3843619 |
| Hope Bancorp, Inc.<br>| &nbsp;&nbsp;&nbsp;422749 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5449235 |
| KKR Real Estate Finance Trust, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;280561 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4469337 |
| Mr. Cooper Group, Inc.<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;189643 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8721682 |
| OFG Bancorp<br>| &nbsp;&nbsp;&nbsp;144235 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4083293 |
| ProAssurance Corp.<br>| &nbsp;&nbsp;&nbsp;220085 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4267448 |
| Provident Financial Services, Inc.<br>| &nbsp;&nbsp;&nbsp;195022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4575216 |
| Ready Capital Corp.<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;446382 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5905634 |
| Renasant Corp.<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;98116 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3490967 |
| S&T Bancorp, Inc.<br>| &nbsp;&nbsp;&nbsp;101505 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3692752 |
| Stellar Bancorp, Inc.<br>| &nbsp;&nbsp;&nbsp;119755 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3366313 |
| StoneX Group, Inc.<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;82474 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7247815 |
| TrustCo Bank Corp.<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;100479 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3608201 |
| United Fire Group, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;169891 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5349868 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;131020495 |
| **Health Care-1.99%** | **Health Care-1.99%** | **Health Care-1.99%** |
| AdaptHealth Corp.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp;163244 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3498319 |
| Cross Country Healthcare, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp;154117 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4276747 |
| iTeos Therapeutics, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp;341257 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7132271 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14907337 |
| **Industrials-23.31%** | **Industrials-23.31%** | **Industrials-23.31%** |
| AAR Corp.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;79783 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4104037 |
| ABM Industries, Inc.<br>| &nbsp;&nbsp;&nbsp;104094 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4883050 |
| ArcBest Corp.<br>| &nbsp;&nbsp;&nbsp;&nbsp;76337 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6370323 |
| Atlas Air Worldwide Holdings, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;59267 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6057680 |
| Boise Cascade Co.<br>| &nbsp;&nbsp;&nbsp;114633 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8594036 |
| CoreCivic, Inc.<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;406565 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4325852 |
| DXP Enterprises, Inc.<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;239057 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7243427 |
| Encore Wire Corp.<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;40287 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6503530 |
| GEO Group, Inc. (The)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp;398402 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4581623 |
| GMS, Inc.<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;111547 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6616968 |
| Granite Construction, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;113400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4828572 |
| Greenbrier Cos., Inc. (The)<br>| &nbsp;&nbsp;&nbsp;163661 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5060398 |
| Griffon Corp.<br>| &nbsp;&nbsp;&nbsp;128180 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5239998 |
| Hub Group, Inc., Class A<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;62895 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5363057 |
| Interface, Inc.<br>| &nbsp;&nbsp;&nbsp;450378 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5125302 |
| Kaman Corp.<br>| &nbsp;&nbsp;&nbsp;277427 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6996709 |
| KAR Auction Services, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp;416391 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6062653 |
| Kelly Services, Inc., Class A<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;727861 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13174284 |
| Matson, Inc.<br>| &nbsp;&nbsp;&nbsp;127748 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8446698 |
| Mueller Industries, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;63800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4182090 |
| NOW, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp;335992 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4717328 |
| PGT Innovations, Inc.<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;209824 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4553181 |
| Powell Industries, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;139986 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5557444 |
| Quanex Building Products Corp.<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;191421 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4955890 |
| Resideo Technologies, Inc.<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;456705 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8782437 |
| Resources Connection, Inc.<br>| &nbsp;&nbsp;&nbsp;231064 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3990475 |
| Titan International, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp;376900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6290461 |
| UFP Industries, Inc.<br>| &nbsp;&nbsp;&nbsp;&nbsp;61517 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5754915 |
| Veritiv Corp.<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;46772 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5848371 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;174210789 |
| **Information Technology-7.07%** | **Information Technology-7.07%** | **Information Technology-7.07%** |
| Alpha & Omega Semiconductor Ltd.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp;217653 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7173843 |
| Benchmark Electronics, Inc.<br>| &nbsp;&nbsp;&nbsp;222726 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6234101 |
| Ebix, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;338288 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6447769 |
| Insight Enterprises, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;50526 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5695291 |
| PC Connection, Inc.<br>| &nbsp;&nbsp;&nbsp;&nbsp;85748 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4204224 |

---

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

------

### Invesco S&P SmallCap Value with Momentum ETF (XSVM)—(continued)<br>
January 31, 2023

(Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Shares** | &nbsp;&nbsp;**Value** |
| **Information Technology-(continued)** | **Information Technology-(continued)** | **Information Technology-(continued)** |
| Photronics, Inc.<sup>(c)</sup><br>| 220628 | &nbsp;&nbsp;&nbsp;&nbsp;$3997779 |
| Sanmina Corp.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;64808 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3948751 |
| ScanSource, Inc.<sup>(c)</sup><br>| 307477 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10125218 |
| TTM Technologies, Inc.<sup>(c)</sup><br>| 318075 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5000139 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52827115 |
| **Materials-10.54%** | **Materials-10.54%** | **Materials-10.54%** |
| AdvanSix, Inc.<br>| 125771 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5438338 |
| Clearwater Paper Corp.<sup>(c)</sup><br>| 168610 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6510032 |
| FutureFuel Corp.<sup>(b)</sup><br>| 439926 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4078114 |
| Kaiser Aluminum Corp.<br>| &nbsp;&nbsp;46639 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4081845 |
| Mercer International, Inc. (Germany)<br>| 602139 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7665229 |
| O-I Glass, Inc.<sup>(c)</sup><br>| 416835 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8024074 |
| Olympic Steel, Inc.<sup>(e)</sup><br>| 357277 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15805934 |
| SunCoke Energy, Inc.<br>| 762076 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6942512 |
| TimkenSteel Corp.<sup>(b)(c)</sup><br>| 331934 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6529142 |
| Tredegar Corp.<sup>(b)</sup><br>| 582829 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7069716 |
| Warrior Met Coal, Inc.<br>| 174218 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6599378 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78744314 |
| **Real Estate-2.30%** | **Real Estate-2.30%** | **Real Estate-2.30%** |
| Chatham Lodging Trust<br>| 324275 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4607948 |
| Hersha Hospitality Trust, Class A<br>| 933753 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8590528 |
| Sunstone Hotel Investors, Inc.<sup>(b)</sup><br>| 364854 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4009745 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17208221 |
| &nbsp;&nbsp;&nbsp;Total Common Stocks & Other Equity Interests<br>(Cost $663,289,151) | &nbsp;&nbsp;&nbsp;Total Common Stocks & Other Equity Interests<br>(Cost $663,289,151) | &nbsp;&nbsp;747384956 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | &nbsp;&nbsp;**Value** |
| **Money Market Funds-0.02%** | **Money Market Funds-0.02%** | **Money Market Funds-0.02%** |
| Invesco Government & Agency Portfolio, Institutional Class, 4.30%<sup>(e)(f)</sup><br>(Cost $171,456)<br>| &nbsp;&nbsp;&nbsp;&nbsp;171456 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$171456 |
| TOTAL INVESTMENTS IN SECURITIES<br>(excluding investments purchased with cash collateral from securities on loan)-100.02%<br>(Cost $663,460,607) | TOTAL INVESTMENTS IN SECURITIES<br>(excluding investments purchased with cash collateral from securities on loan)-100.02%<br>(Cost $663,460,607) | &nbsp;&nbsp;&nbsp;747556412 |
| **Investments Purchased with Cash Collateral from Securities on Loan** | **Investments Purchased with Cash Collateral from Securities on Loan** | **Investments Purchased with Cash Collateral from Securities on Loan** |
| **Money Market Funds-18.42%** | **Money Market Funds-18.42%** | **Money Market Funds-18.42%** |
| Invesco Private Government Fund, 4.36%<sup>(e)(f)(g)</sup><br>| 38551302 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38551302 |
| Invesco Private Prime Fund, 4.59%<sup>(e)(f)(g)</sup><br>| 99118648 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99148382 |
| &nbsp;&nbsp;&nbsp;Total Investments Purchased with Cash Collateral from Securities on Loan<br>(Cost $137,696,549) | &nbsp;&nbsp;&nbsp;Total Investments Purchased with Cash Collateral from Securities on Loan<br>(Cost $137,696,549) | &nbsp;&nbsp;&nbsp;137699684 |
| TOTAL INVESTMENTS IN SECURITIES-118.44%<br>(Cost $801,157,156) | TOTAL INVESTMENTS IN SECURITIES-118.44%<br>(Cost $801,157,156) | &nbsp;&nbsp;&nbsp;885256096 |
| OTHER ASSETS LESS LIABILITIES-(18.44)% | OTHER ASSETS LESS LIABILITIES-(18.44)% | &nbsp;&nbsp;(137841874) |
| NET ASSETS-100.00% | NET ASSETS-100.00% | $747414222 |

---

---

| | |
|:---|:---|
| 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 the exclusive property and a service mark of MSCI Inc. and Standard & Poor's. |
| <sup>(b)</sup> | All or a portion of this security was out on loan at January 31, 2023. |
| <sup>(c)</sup> | Non-income producing security. |
| <sup>(d)</sup> | Restricted security. The value of this security at January 31, 2023 represented less than 1% of the Fund's Net Assets. |
| <sup>(e)</sup> | Affiliated issuer. The issuer is affiliated by having an investment adviser that is under common control of Invesco Ltd. and/or is an "affiliated person" under the Investment Company Act of 1940, as amended (the "1940 Act"), which defines "affiliated person" to include an issuer of which a fund holds 5% or more of the outstanding voting securities. For the Investments in Other Affiliates below, the Fund has not owned enough of the outstanding voting securities of the issuer to have control (as defined in the 1940 Act) of that issuer. The table below shows the Fund's transactions in, and earnings from, its investments in affiliates for the nine months ended January 31, 2023. |

---

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;**Value<br> April 30, 2022** | &nbsp;&nbsp;&nbsp;**Purchases<br> at Cost** | &nbsp;&nbsp;&nbsp;**Proceeds<br> from Sales** | &nbsp;&nbsp;&nbsp;**Change in<br> Unrealized<br> Appreciation<br> (Depreciation)** | &nbsp;&nbsp;&nbsp;**Realized<br> Gain<br> (Loss)** | &nbsp;&nbsp;&nbsp;**Value<br> January 31, 2023** | &nbsp;&nbsp;&nbsp;**Dividend<br> Income** |
| &nbsp;&nbsp;**Investments in Affiliated Money Market Funds:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Invesco Government & Agency Portfolio, Institutional Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$576198 | &nbsp;&nbsp;&nbsp;$16339654 | &nbsp;&nbsp;&nbsp;$(16744396) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$171456 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$8516 |
| &nbsp;&nbsp;**Investments Purchased with Cash Collateral from Securities on Loan:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Invesco Private Government Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26860446 | &nbsp;&nbsp;&nbsp;&nbsp;174894668 | &nbsp;&nbsp;&nbsp;&nbsp;(163203812) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38551302 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;705,420\* |
| &nbsp;&nbsp;Invesco Private Prime Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62747381 | &nbsp;&nbsp;&nbsp;&nbsp;402202391 | &nbsp;&nbsp;&nbsp;&nbsp;(365826083) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1929) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26622 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99148382 | &nbsp;&nbsp;&nbsp;&nbsp;1,927,975\* |

---

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

------

January 31, 2023

(Unaudited)

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;**Value<br> April 30, 2022** | &nbsp;&nbsp;&nbsp;**Purchases<br> at Cost** | &nbsp;&nbsp;&nbsp;**Proceeds<br> from Sales** | &nbsp;&nbsp;&nbsp;**Change in<br> Unrealized<br> Appreciation<br> (Depreciation)** | &nbsp;&nbsp;&nbsp;**Realized<br> Gain<br> (Loss)** | &nbsp;&nbsp;&nbsp;**Value<br> January 31, 2023** | &nbsp;&nbsp;&nbsp;**Dividend<br> Income** |
| &nbsp;&nbsp;**Investments in Other Affiliates:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Conn's, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;$7151127 | &nbsp;&nbsp;&nbsp;&nbsp;$8422649 | &nbsp;&nbsp;&nbsp;&nbsp;$(9073637) | &nbsp;&nbsp;&nbsp;$(3042840) | &nbsp;&nbsp;&nbsp;$(9542979) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$- |
| &nbsp;&nbsp;Olympic Steel, Inc.\*\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22825708 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5022132 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(13208875) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2261676 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1094707) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15805934 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;128204 |
| &nbsp;&nbsp;Total | &nbsp;&nbsp;&nbsp;$120160860 | &nbsp;&nbsp;&nbsp;$606881494 | &nbsp;&nbsp;&nbsp;$(568056803) | &nbsp;&nbsp;&nbsp;$(783093) | &nbsp;&nbsp;&nbsp;$(10611064) | &nbsp;&nbsp;&nbsp;$153677074 | &nbsp;&nbsp;&nbsp;$2770115 |

---

\* 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. <br> \*\* As of January 31, 2023, this security was not considered as an affiliate of the Fund.

<sup>(f)</sup> The rate shown is the 7-day SEC standardized yield as of January 31, 2023. <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<sup>(a)</sup><br>

### Invesco Zacks Mid-Cap ETF (CZA)
January 31, 2023

(Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Shares** | &nbsp;&nbsp;**Value** |
| **Common Stocks & Other Equity Interests-99.95%** | **Common Stocks & Other Equity Interests-99.95%** | **Common Stocks & Other Equity Interests-99.95%** |
| **Communication Services-1.42%** | **Communication Services-1.42%** | **Communication Services-1.42%** |
| Fox Corp., Class A<br>| &nbsp;&nbsp;91442 | &nbsp;&nbsp;$3103541 |
| **Consumer Discretionary-2.41%** | **Consumer Discretionary-2.41%** | **Consumer Discretionary-2.41%** |
| Columbia Sportswear Co.<sup>(b)</sup><br>| &nbsp;&nbsp;10106 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;969165 |
| Garmin Ltd.<br>| &nbsp;&nbsp;31962 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3160403 |
| Gentex Corp.<br>| &nbsp;&nbsp;38719 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1142598 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5272166 |
| **Consumer Staples-4.44%** | **Consumer Staples-4.44%** | **Consumer Staples-4.44%** |
| Church & Dwight Co., Inc.<br>| &nbsp;&nbsp;40030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3236826 |
| Coca-Cola Europacific Partners PLC (United Kingdom)<br>| &nbsp;&nbsp;75219 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4228812 |
| Coty, Inc., Class A<sup>(c)</sup><br>| 132020 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1314919 |
| Pilgrim's Pride Corp.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;38632 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;937985 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9718542 |
| **Financials-19.43%** | **Financials-19.43%** | **Financials-19.43%** |
| Affiliated Managers Group, Inc.<br>| &nbsp;&nbsp;&nbsp;&nbsp;6242 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1078243 |
| Arch Capital Group Ltd.<sup>(c)</sup><br>| &nbsp;&nbsp;59550 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3832042 |
| AXIS Capital Holdings Ltd.<sup>(b)</sup><br>| &nbsp;&nbsp;14221 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;889808 |
| CNA Financial Corp.<br>| &nbsp;&nbsp;44047 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1918687 |
| Comerica, Inc.<br>| &nbsp;&nbsp;21116 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1548014 |
| Deutsche Bank AG (Germany)<sup>(b)</sup><br>| 319191 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4270776 |
| East West Bancorp, Inc.<br>| &nbsp;&nbsp;22983 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1804625 |
| Essent Group Ltd.<br>| &nbsp;&nbsp;17409 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;766518 |
| Everest Re Group Ltd.<br>| &nbsp;&nbsp;&nbsp;&nbsp;6320 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2210041 |
| Fifth Third Bancorp<br>| 110989 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4027791 |
| First Republic Bank<br>| &nbsp;&nbsp;30496 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4296276 |
| Hanover Insurance Group, Inc. (The)<br>| &nbsp;&nbsp;&nbsp;&nbsp;5808 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;781641 |
| Hartford Financial Services Group, Inc. (The)<br>| &nbsp;&nbsp;51716 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4013679 |
| M&T Bank Corp.<br>| &nbsp;&nbsp;27818 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4339608 |
| SEI Investments Co.<br>| &nbsp;&nbsp;22673 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1415475 |
| W.R. Berkley Corp.<br>| &nbsp;&nbsp;43737 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3067713 |
| Western Alliance Bancorporation<br>| &nbsp;&nbsp;17988 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1355756 |
| Wintrust Financial Corp.<br>| &nbsp;&nbsp;&nbsp;&nbsp;9804 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;896772 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;42513465 |
| **Health Care-6.53%** | **Health Care-6.53%** | **Health Care-6.53%** |
| Bausch + Lomb Corp.<sup>(c)</sup><br>| &nbsp;&nbsp;58823 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1014109 |
| Bruker Corp.<sup>(b)</sup><br>| &nbsp;&nbsp;23634 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1657216 |
| ICON PLC<sup>(c)</sup><br>| &nbsp;&nbsp;13212 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3048141 |
| Merit Medical Systems, Inc.<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;9700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;692095 |
| Premier, Inc., Class A<br>| &nbsp;&nbsp;19161 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;639211 |
| Royalty Pharma PLC, Class A<br>| 104434 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4092768 |
| West Pharmaceutical Services, Inc.<br>| &nbsp;&nbsp;11867 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3151875 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;14295415 |
| **Industrials-23.97%** | **Industrials-23.97%** | **Industrials-23.97%** |
| AerCap Holdings N.V. (Ireland)<sup>(c)</sup><br>| &nbsp;&nbsp;41094 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2597552 |
| AGCO Corp.<sup>(b)</sup><br>| &nbsp;&nbsp;12070 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1667229 |
| Allegion PLC<br>| &nbsp;&nbsp;14449 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1698480 |
| Booz Allen Hamilton Holding Corp.<br>| &nbsp;&nbsp;22036 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2085487 |
| CACI International, Inc., Class A<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;3931 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1211102 |
| Carlisle Cos., Inc.<br>| &nbsp;&nbsp;&nbsp;&nbsp;8709 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2184740 |
| Crane Holdings Co.<br>| &nbsp;&nbsp;&nbsp;&nbsp;9025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1046088 |
| Donaldson Co., Inc.<br>| &nbsp;&nbsp;20025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1248559 |
| Dover Corp.<br>| &nbsp;&nbsp;23141 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3513498 |
| Driven Brands Holdings, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;28423 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;829667 |
| Equifax, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;20293 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4509105 |
| Fortive Corp.<br>| &nbsp;&nbsp;58939 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4009620 |
| Graco, Inc.<br>| &nbsp;&nbsp;27806 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1899706 |
| IDEX Corp.<br>| &nbsp;&nbsp;12544 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3006546 |
| ITT, Inc.<br>| &nbsp;&nbsp;13172 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1206424 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | &nbsp;&nbsp;**Value** |
| **Industrials-(continued)** | **Industrials-(continued)** | **Industrials-(continued)** |
| Jacobs Solutions, Inc.<br>| &nbsp;&nbsp;20888 | &nbsp;&nbsp;$2580712 |
| Leidos Holdings, Inc.<br>| &nbsp;&nbsp;22700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2243668 |
| MDU Resources Group, Inc.<br>| &nbsp;&nbsp;32773 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1013013 |
| MSC Industrial Direct Co., Inc., Class A<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;9203 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;761088 |
| Oshkosh Corp.<br>| &nbsp;&nbsp;10547 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1062927 |
| Regal Rexnord Corp.<sup>(b)</sup><br>| &nbsp;&nbsp;10627 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1479278 |
| Southwest Airlines Co.<br>| 109460 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3915384 |
| Stericycle, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;15426 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;830073 |
| Valmont Industries, Inc.<br>| &nbsp;&nbsp;&nbsp;&nbsp;3435 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1132623 |
| Vertiv Holdings Co.<br>| &nbsp;&nbsp;66143 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;940553 |
| Wabtec Corp.<br>| &nbsp;&nbsp;30043 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3118764 |
| Zurn Elkay Water Solutions Corp.<br>| &nbsp;&nbsp;30227 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;660762 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;52452648 |
| **Information Technology-10.84%** | **Information Technology-10.84%** | **Information Technology-10.84%** |
| Amdocs Ltd.<br>| &nbsp;&nbsp;19658 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1807160 |
| CDW Corp.<br>| &nbsp;&nbsp;23014 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4511434 |
| Check Point Software Technologies Ltd. (Israel)<sup>(c)</sup><br>| &nbsp;&nbsp;21520 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2737344 |
| Concentrix Corp.<br>| &nbsp;&nbsp;&nbsp;&nbsp;8104 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1149228 |
| FleetCor Technologies, Inc.<sup>(c)</sup><br>| &nbsp;&nbsp;12345 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2577759 |
| Genpact Ltd.<br>| &nbsp;&nbsp;29706 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1404500 |
| Littelfuse, Inc.<br>| &nbsp;&nbsp;&nbsp;&nbsp;4173 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1071167 |
| TD SYNNEX Corp.<br>| &nbsp;&nbsp;15970 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1631336 |
| Teledyne Technologies, Inc.<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;7855 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3332562 |
| TELUS International CDA, Inc. (Philippines)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;44322 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1056637 |
| Trimble, Inc.<sup>(c)</sup><br>| &nbsp;&nbsp;42075 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2442875 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;23722002 |
| **Materials-10.08%** | **Materials-10.08%** | **Materials-10.08%** |
| Avery Dennison Corp.<br>| &nbsp;&nbsp;13360 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2530918 |
| Crown Holdings, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;19579 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1726085 |
| Eastman Chemical Co.<br>| &nbsp;&nbsp;20086 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1770983 |
| Element Solutions, Inc.<br>| &nbsp;&nbsp;40520 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;829850 |
| FMC Corp.<br>| &nbsp;&nbsp;20768 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2764844 |
| ICL Group Ltd. (Israel)<br>| 214271 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1707740 |
| RPM International, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;21654 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1946911 |
| Sealed Air Corp.<br>| &nbsp;&nbsp;24429 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1337732 |
| Sonoco Products Co.<br>| &nbsp;&nbsp;15843 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;968166 |
| Suzano S.A., ADR (Brazil)<br>| 244464 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2244179 |
| Westlake Corp.<sup>(b)</sup><br>| &nbsp;&nbsp;20911 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2566825 |
| WestRock Co.<br>| &nbsp;&nbsp;42080 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1651219 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;22045452 |
| **Real Estate-7.84%** | **Real Estate-7.84%** | **Real Estate-7.84%** |
| Americold Realty Trust, Inc.<br>| &nbsp;&nbsp;44708 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1404278 |
| AvalonBay Communities, Inc.<br>| &nbsp;&nbsp;23798 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4222717 |
| Essex Property Trust, Inc.<br>| &nbsp;&nbsp;10929 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2470719 |
| Gaming and Leisure Properties, Inc.<br>| &nbsp;&nbsp;42945 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2300134 |
| Healthpeak Properties, Inc.<br>| &nbsp;&nbsp;89648 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2463527 |
| STAG Industrial, Inc.<br>| &nbsp;&nbsp;29542 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1051695 |
| Sun Communities, Inc.<br>| &nbsp;&nbsp;20611 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3233042 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;17146112 |
| **Utilities-12.99%** | **Utilities-12.99%** | **Utilities-12.99%** |
| AES Corp. (The)<br>| 110240 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3021678 |
| Alliant Energy Corp.<br>| &nbsp;&nbsp;41064 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2218688 |
| Ameren Corp.<br>| &nbsp;&nbsp;42164 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3662787 |
| Avangrid, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;62829 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2649499 |
| CMS Energy Corp.<br>| &nbsp;&nbsp;46898 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2963485 |
| DTE Energy Co.<br>| &nbsp;&nbsp;31586 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3675663 |
| Entergy Corp.<br>| &nbsp;&nbsp;34075 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3689641 |
| Essential Utilities, Inc.<br>| &nbsp;&nbsp;42566 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1989109 |

---

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

------

### Invesco Zacks Mid-Cap ETF (CZA)—(continued)<br>
January 31, 2023

(Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Shares** | &nbsp;&nbsp;**Value** |
| **Utilities-(continued)** | **Utilities-(continued)** | **Utilities-(continued)** |
| FirstEnergy Corp.<br>| &nbsp;&nbsp;92941 | &nbsp;&nbsp;&nbsp;&nbsp;$3805934 |
| Hawaiian Electric Industries, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;17512 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;740232 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28416716 |
| &nbsp;&nbsp;&nbsp;Total Common Stocks & Other Equity Interests<br>(Cost $201,057,109) | &nbsp;&nbsp;&nbsp;Total Common Stocks & Other Equity Interests<br>(Cost $201,057,109) | &nbsp;&nbsp;218686059 |
| **Money Market Funds-0.13%** | **Money Market Funds-0.13%** | **Money Market Funds-0.13%** |
| Invesco Government & Agency Portfolio, Institutional Class, 4.30%<sup>(d)(e)</sup><br>(Cost $276,508)<br>| 276508 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;276508 |
| TOTAL INVESTMENTS IN SECURITIES<br>(excluding investments purchased with cash collateral from securities on loan)-100.08%<br>(Cost $201,333,617) | TOTAL INVESTMENTS IN SECURITIES<br>(excluding investments purchased with cash collateral from securities on loan)-100.08%<br>(Cost $201,333,617) | &nbsp;&nbsp;218962567 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | &nbsp;&nbsp;**Value** |
| **Investments Purchased with Cash Collateral from Securities on Loan** | **Investments Purchased with Cash Collateral from Securities on Loan** | **Investments Purchased with Cash Collateral from Securities on Loan** |
| **Money Market Funds-6.94%** | **Money Market Funds-6.94%** | **Money Market Funds-6.94%** |
| Invesco Private Government Fund, 4.36%<sup>(d)(e)(f)</sup><br>| &nbsp;&nbsp;4252141 | &nbsp;&nbsp;&nbsp;&nbsp;$4252141 |
| Invesco Private Prime Fund, 4.59%<sup>(d)(e)(f)</sup><br>| 10932663 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10935943 |
| &nbsp;&nbsp;&nbsp;Total Investments Purchased with Cash Collateral from Securities on Loan<br>(Cost $15,187,783) | &nbsp;&nbsp;&nbsp;Total Investments Purchased with Cash Collateral from Securities on Loan<br>(Cost $15,187,783) | &nbsp;&nbsp;&nbsp;&nbsp;15188084 |
| TOTAL INVESTMENTS IN SECURITIES-107.02%<br>(Cost $216,521,400) | TOTAL INVESTMENTS IN SECURITIES-107.02%<br>(Cost $216,521,400) | &nbsp;&nbsp;234150651 |
| OTHER ASSETS LESS LIABILITIES-(7.02)% | OTHER ASSETS LESS LIABILITIES-(7.02)% | &nbsp;&nbsp;&nbsp;(15366643) |
| NET ASSETS-100.00% | NET ASSETS-100.00% | $218784008 |

---

Investment Abbreviations: <br> ADR -American Depositary Receipt

---

| | |
|:---|:---|
| 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 the exclusive property and a service mark of MSCI Inc. and Standard & Poor's. |
| <sup>(b)</sup> | All or a portion of this security was out on loan at January 31, 2023. |
| <sup>(c)</sup> | Non-income producing security. |
| <sup>(d)</sup> | Affiliated issuer. The issuer and/or the Fund is a wholly-owned subsidiary of Invesco Ltd., or is affiliated by having an investment adviser that is under common control of Invesco Ltd. The table below shows the Fund's transactions in, and earnings from, its investments in affiliates for the nine months ended January 31, 2023. |

---

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;**Value<br> April 30, 2022** | &nbsp;&nbsp;&nbsp;**Purchases<br> at Cost** | &nbsp;&nbsp;&nbsp;**Proceeds<br> from Sales** | &nbsp;&nbsp;&nbsp;**Change in<br> Unrealized<br> Appreciation** | &nbsp;&nbsp;&nbsp;**Realized<br> Gain<br> (Loss)** | &nbsp;&nbsp;&nbsp;**Value<br> January 31, 2023** | &nbsp;&nbsp;&nbsp;**Dividend<br> Income** |
| &nbsp;&nbsp;Invesco Ltd. | &nbsp;&nbsp;&nbsp;$1398167 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$94043 | &nbsp;&nbsp;&nbsp;&nbsp;$(1533359) | &nbsp;&nbsp;&nbsp;$425499 | &nbsp;&nbsp;&nbsp;$(384350) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;$42315 |
| &nbsp;&nbsp;**Investments in Affiliated Money Market Funds:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Invesco Government & Agency Portfolio, Institutional Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;405744 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7952233 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8081469) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;276508 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4952 |
| &nbsp;&nbsp;**Investments Purchased with Cash Collateral from Securities on Loan:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Invesco Private Government Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5151726 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52618179 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(53517764) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4252141 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75,147\* |
| &nbsp;&nbsp;Invesco Private Prime Fund | &nbsp;&nbsp;&nbsp;&nbsp;12011712 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94849587 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(95927581) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;301 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1924 | &nbsp;&nbsp;&nbsp;&nbsp;10935943 | &nbsp;&nbsp;&nbsp;&nbsp;204,006\* |
| &nbsp;&nbsp;Total | &nbsp;&nbsp;&nbsp;$18967349 | &nbsp;&nbsp;&nbsp;$155514042 | &nbsp;&nbsp;&nbsp;$(159060173) | &nbsp;&nbsp;&nbsp;$425800 | &nbsp;&nbsp;&nbsp;$(382426) | &nbsp;&nbsp;&nbsp;$15464592 | &nbsp;&nbsp;&nbsp;$326420 |

---

\* 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.

<sup>(e)</sup> The rate shown is the 7-day SEC standardized yield as of January 31, 2023. <br> <sup>(f)</sup> The security has been segregated to satisfy the commitment to return the cash collateral received in securities lending transactions upon the borrower's return of the securities loaned.

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

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

------

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

### Invesco Zacks Multi-Asset Income ETF (CVY)
January 31, 2023

(Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Shares** | &nbsp;&nbsp;**Value** |
| **Common Stocks & Other Equity Interests-81.27%** | **Common Stocks & Other Equity Interests-81.27%** | **Common Stocks & Other Equity Interests-81.27%** |
| **Communication Services-1.15%** | **Communication Services-1.15%** | **Communication Services-1.15%** |
| Gray Television, Inc.<br>| &nbsp;&nbsp;18267 | &nbsp;&nbsp;&nbsp;&nbsp;$236740 |
| Mobile TeleSystems PJSC, ADR (Russia)<sup>(b)(c)</sup><br>| 152493 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| Telefonica Brasil S.A., ADR (Brazil)<sup>(d)</sup><br>| &nbsp;&nbsp;54493 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;443028 |
| Telefonica S.A., ADR (Spain)<sup>(d)</sup><br>| 144954 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;556624 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1236392 |
| **Consumer Discretionary-7.65%** | **Consumer Discretionary-7.65%** | **Consumer Discretionary-7.65%** |
| Bloomin' Brands, Inc.<br>| &nbsp;&nbsp;18967 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;459950 |
| Foot Locker, Inc.<sup>(d)</sup><br>| &nbsp;&nbsp;22205 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;966140 |
| Gildan Activewear, Inc. (Canada)<br>| &nbsp;&nbsp;11984 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;375459 |
| Guess?, Inc.<br>| &nbsp;&nbsp;19862 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;460202 |
| Honda Motor Co. Ltd., ADR (Japan)<br>| &nbsp;&nbsp;29384 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;729311 |
| LCI Industries<sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;3064 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;343842 |
| M.D.C. Holdings, Inc.<br>| &nbsp;&nbsp;&nbsp;&nbsp;9761 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;368575 |
| Macy's, Inc.<br>| &nbsp;&nbsp;55545 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1312528 |
| Patrick Industries, Inc.<br>| &nbsp;&nbsp;&nbsp;&nbsp;6038 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;428517 |
| Smith & Wesson Brands, Inc.<br>| &nbsp;&nbsp;23760 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;263261 |
| Whirlpool Corp.<sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;6148 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;956567 |
| Williams-Sonoma, Inc.<sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;9283 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1252648 |
| Wolverine World Wide, Inc.<br>| &nbsp;&nbsp;17989 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;290163 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8207163 |
| **Consumer Staples-1.59%** | **Consumer Staples-1.59%** | **Consumer Staples-1.59%** |
| Bunge Ltd.<br>| &nbsp;&nbsp;&nbsp;&nbsp;9240 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;915684 |
| Tyson Foods, Inc., Class A<br>| &nbsp;&nbsp;12019 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;790249 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1705933 |
| **Energy-21.39%** | **Energy-21.39%** | **Energy-21.39%** |
| Alliance Resource Partners L.P.<br>| &nbsp;&nbsp;50028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1147142 |
| Black Stone Minerals L.P.<br>| &nbsp;&nbsp;70279 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1144142 |
| BP PLC, ADR (United Kingdom)<sup>(d)</sup><br>| &nbsp;&nbsp;18021 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;652901 |
| Chord Energy Corp.<br>| &nbsp;&nbsp;&nbsp;&nbsp;4765 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;682967 |
| Civitas Resources, Inc.<br>| &nbsp;&nbsp;10148 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;675349 |
| CONSOL Energy, Inc.<br>| &nbsp;&nbsp;13723 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;793601 |
| Crescent Point Energy Corp. (Canada)<br>| 126656 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;944854 |
| Crestwood Equity Partners L.P.<br>| &nbsp;&nbsp;33043 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;888857 |
| Delek US Holdings, Inc.<br>| &nbsp;&nbsp;24751 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;662337 |
| Energy Transfer L.P.<br>| &nbsp;&nbsp;82770 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1099186 |
| Enterprise Products Partners L.P.<br>| &nbsp;&nbsp;30245 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;774272 |
| Genesis Energy L.P.<br>| &nbsp;&nbsp;52524 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;592996 |
| Global Partners L.P.<br>| &nbsp;&nbsp;30681 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1134890 |
| HF Sinclair Corp.<br>| &nbsp;&nbsp;21598 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1228926 |
| Marathon Petroleum Corp.<br>| &nbsp;&nbsp;10789 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1386602 |
| MPLX L.P.<br>| &nbsp;&nbsp;31544 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1101516 |
| Northern Oil and Gas, Inc.<br>| &nbsp;&nbsp;24043 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;805921 |
| NuStar Energy L.P.<br>| &nbsp;&nbsp;68482 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1147074 |
| Phillips 66<br>| &nbsp;&nbsp;10779 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1080810 |
| Plains All American Pipeline L.P.<br>| &nbsp;&nbsp;68434 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;852688 |
| Shell PLC, ADR (Netherlands)<sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;8274 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;486594 |
| Suncor Energy, Inc. (Canada)<br>| &nbsp;&nbsp;27134 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;942092 |
| TotalEnergies SE, ADR (France)<sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;8116 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;503517 |
| VAALCO Energy, Inc.<sup>(d)</sup><br>| &nbsp;&nbsp;51682 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;240321 |
| Valero Energy Corp.<br>| &nbsp;&nbsp;&nbsp;&nbsp;8384 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1174012 |
| Western Midstream Partners L.P.<br>| &nbsp;&nbsp;29342 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;792821 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;22936388 |
| **Financials-22.30%** | **Financials-22.30%** | **Financials-22.30%** |
| Ally Financial, Inc.<br>| &nbsp;&nbsp;26545 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;862447 |
| Apollo Commercial Real Estate Finance, Inc.<sup>(d)</sup><br>| &nbsp;&nbsp;40464 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;492447 |
| Banco de Chile, ADR (Chile)<br>| &nbsp;&nbsp;39121 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;859488 |
| Banco Santander Chile, ADR (Chile)<br>| &nbsp;&nbsp;41929 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;709019 |
| Bancolombia S.A., ADR (Colombia)<br>| &nbsp;&nbsp;27625 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;835656 |
| Bank of America Corp.<br>| &nbsp;&nbsp;29807 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1057552 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | &nbsp;&nbsp;**Value** |
| **Financials-(continued)** | **Financials-(continued)** | **Financials-(continued)** |
| BankUnited, Inc.<br>| &nbsp;&nbsp;&nbsp;&nbsp;8692 | &nbsp;&nbsp;&nbsp;&nbsp;$327167 |
| Berkshire Hills Bancorp, Inc.<sup>(d)</sup><br>| &nbsp;&nbsp;13927 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;432433 |
| Capital One Financial Corp.<br>| &nbsp;&nbsp;&nbsp;&nbsp;8886 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1057434 |
| Citigroup, Inc.<br>| &nbsp;&nbsp;20271 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1058552 |
| CNO Financial Group, Inc.<br>| &nbsp;&nbsp;17517 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;451238 |
| East West Bancorp, Inc.<br>| &nbsp;&nbsp;10107 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;793602 |
| Equitable Holdings, Inc.<br>| &nbsp;&nbsp;24262 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;778082 |
| Evercore, Inc., Class A<br>| &nbsp;&nbsp;&nbsp;&nbsp;6505 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;844414 |
| Fidelity National Financial, Inc.<br>| &nbsp;&nbsp;17523 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;771538 |
| First Bancorp<br>| &nbsp;&nbsp;24844 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;334152 |
| Goldman Sachs Group, Inc. (The)<br>| &nbsp;&nbsp;&nbsp;&nbsp;3390 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1240096 |
| HSBC Holdings PLC, ADR (United Kingdom)<sup>(d)</sup><br>| &nbsp;&nbsp;19978 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;737987 |
| Jackson Financial, Inc., Class A<br>| &nbsp;&nbsp;10728 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;472461 |
| Jefferies Financial Group, Inc.<br>| &nbsp;&nbsp;23863 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;937339 |
| MetLife, Inc.<br>| &nbsp;&nbsp;16525 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1206655 |
| MGIC Investment Corp.<br>| &nbsp;&nbsp;53511 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;755575 |
| Mizuho Financial Group, Inc., ADR (Japan)<sup>(d)</sup><br>| 237157 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;749416 |
| PacWest Bancorp<br>| &nbsp;&nbsp;23554 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;651504 |
| Popular, Inc.<br>| &nbsp;&nbsp;&nbsp;&nbsp;8986 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;616799 |
| Radian Group, Inc.<br>| &nbsp;&nbsp;17119 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;378330 |
| SLM Corp.<br>| &nbsp;&nbsp;38830 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;682243 |
| Synchrony Financial<br>| &nbsp;&nbsp;31460 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1155526 |
| Unum Group<br>| &nbsp;&nbsp;20331 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;854512 |
| Virtu Financial, Inc., Class A<br>| &nbsp;&nbsp;13700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;264547 |
| Virtus Investment Partners, Inc.<br>| &nbsp;&nbsp;&nbsp;&nbsp;1920 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;412570 |
| Wells Fargo & Co.<br>| &nbsp;&nbsp;24203 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1134395 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;23915176 |
| **Health Care-2.03%** | **Health Care-2.03%** | **Health Care-2.03%** |
| Organon & Co.<br>| &nbsp;&nbsp;18762 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;565299 |
| Pfizer, Inc.<br>| &nbsp;&nbsp;19914 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;879402 |
| Viatris, Inc.<br>| &nbsp;&nbsp;60309 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;733358 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2178059 |
| **Industrials-3.99%** | **Industrials-3.99%** | **Industrials-3.99%** |
| Danaos Corp. (Greece)<br>| &nbsp;&nbsp;&nbsp;&nbsp;4337 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;256663 |
| FedEx Corp.<br>| &nbsp;&nbsp;&nbsp;&nbsp;5230 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1013888 |
| Global Ship Lease, Inc., Class A (United Kingdom)<sup>(d)</sup><br>| &nbsp;&nbsp;15940 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;295368 |
| Grupo Aeroportuario del Pacifico S.A.B. de C.V., ADR (Mexico)<br>| &nbsp;&nbsp;&nbsp;&nbsp;3875 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;668709 |
| Ryder System, Inc.<br>| &nbsp;&nbsp;&nbsp;&nbsp;9178 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;866495 |
| Textainer Group Holdings Ltd. (China)<sup>(d)</sup><br>| &nbsp;&nbsp;11011 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;373273 |
| Triton International Ltd. (Bermuda)<br>| &nbsp;&nbsp;11353 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;801976 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4276372 |
| **Information Technology-2.55%** | **Information Technology-2.55%** | **Information Technology-2.55%** |
| Avnet, Inc.<br>| &nbsp;&nbsp;15448 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;708754 |
| HP, Inc.<br>| &nbsp;&nbsp;30068 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;876182 |
| Skyworks Solutions, Inc.<br>| &nbsp;&nbsp;10499 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1151425 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2736361 |
| **Materials-7.32%** | **Materials-7.32%** | **Materials-7.32%** |
| Algoma Steel Group, Inc. (Canada)<br>| &nbsp;&nbsp;37542 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;315728 |
| Celanese Corp.<br>| &nbsp;&nbsp;&nbsp;&nbsp;7061 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;869915 |
| Chemours Co. (The)<br>| &nbsp;&nbsp;17309 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;629875 |
| CVR Partners L.P.<br>| &nbsp;&nbsp;&nbsp;&nbsp;4811 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;476914 |
| Gerdau S.A., ADR (Brazil)<sup>(d)</sup><br>| 177917 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1156461 |
| Greif, Inc., Class A<br>| &nbsp;&nbsp;&nbsp;&nbsp;5828 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;416294 |
| Huntsman Corp.<br>| &nbsp;&nbsp;20204 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;640265 |
| Nutrien Ltd. (Canada)<br>| &nbsp;&nbsp;10879 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900672 |
| Sociedad Quimica y Minera de Chile S.A., ADR (Chile)<sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;7377 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;719553 |
| Tronox Holdings PLC, Class A<br>| &nbsp;&nbsp;20161 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;345761 |

---

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

------

### Invesco Zacks Multi-Asset Income ETF (CVY)—(continued)<br>
January 31, 2023

(Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Shares** | &nbsp;&nbsp;**Value** |
| **Materials-(continued)** | **Materials-(continued)** | **Materials-(continued)** |
| Vale S.A., ADR (Brazil)<sup>(d)</sup><br>| &nbsp;&nbsp;41418 | &nbsp;&nbsp;&nbsp;&nbsp;$773688 |
| WestRock Co.<br>| &nbsp;&nbsp;15494 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;607985 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7853111 |
| **Real Estate-10.38%** | **Real Estate-10.38%** | **Real Estate-10.38%** |
| Agree Realty Corp.<br>| &nbsp;&nbsp;14975 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1117584 |
| Apple Hospitality REIT, Inc.<br>| &nbsp;&nbsp;56173 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;995947 |
| CareTrust REIT, Inc.<br>| &nbsp;&nbsp;18572 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;384812 |
| Corporate Office Properties Trust<sup>(d)</sup><br>| &nbsp;&nbsp;22143 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;621554 |
| Gaming and Leisure Properties, Inc.<br>| &nbsp;&nbsp;23293 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1247573 |
| Getty Realty Corp.<br>| &nbsp;&nbsp;&nbsp;&nbsp;9855 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;359018 |
| LTC Properties, Inc.<br>| &nbsp;&nbsp;&nbsp;&nbsp;8076 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;308099 |
| National Health Investors, Inc.<br>| &nbsp;&nbsp;&nbsp;&nbsp;8956 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;526882 |
| National Retail Properties, Inc.<br>| &nbsp;&nbsp;24378 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1154298 |
| Omega Healthcare Investors, Inc.<sup>(d)</sup><br>| &nbsp;&nbsp;35727 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1051803 |
| Service Properties Trust<br>| &nbsp;&nbsp;61936 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;551850 |
| Tanger Factory Outlet Centers, Inc.<br>| &nbsp;&nbsp;25784 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;492732 |
| VICI Properties, Inc.<br>| &nbsp;&nbsp;35799 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1223610 |
| W.P. Carey, Inc.<sup>(d)</sup><br>| &nbsp;&nbsp;12776 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1092731 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;11128493 |
| **Utilities-0.92%** | **Utilities-0.92%** | **Utilities-0.92%** |
| Otter Tail Corp.<sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;5499 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;352761 |
| Vistra Corp.<br>| &nbsp;&nbsp;27361 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;630945 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;983706 |
| &nbsp;&nbsp;&nbsp;Total Common Stocks & Other Equity Interests<br>(Cost $83,694,383) | &nbsp;&nbsp;&nbsp;Total Common Stocks & Other Equity Interests<br>(Cost $83,694,383) | &nbsp;&nbsp;87157154 |
| **Closed-End Funds-9.62%** | **Closed-End Funds-9.62%** | **Closed-End Funds-9.62%** |
| Allspring Income Opportunities Fund<br>| &nbsp;&nbsp;36201 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;249063 |
| Ares Dynamic Credit Allocation Fund, Inc.<sup>(d)</sup><br>| &nbsp;&nbsp;20800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;263744 |
| Blackstone Strategic Credit Fund<sup>(d)</sup><br>| &nbsp;&nbsp;30459 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;339009 |
| DoubleLine Income Solutions Fund<sup>(d)</sup><br>| &nbsp;&nbsp;89875 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1132425 |
| DoubleLine Yield Opportunities Fund<sup>(d)</sup><br>| &nbsp;&nbsp;48604 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;712049 |
| Eaton Vance Limited Duration Income Fund<br>| &nbsp;&nbsp;69149 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;710852 |
| First Trust High Yield Opportunities 2027 Term Fund<sup>(d)</sup><br>| &nbsp;&nbsp;28141 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;413954 |
| Flaherty & Crumrine Dynamic Preferred and Income Fund, Inc.<sup>(d)</sup><br>| &nbsp;&nbsp;18237 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;386260 |
| Flaherty & Crumrine Preferred & Income Securities Fund, Inc.<sup>(d)</sup><br>| &nbsp;&nbsp;37375 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;653689 |
| GAMCO Global Gold Natural Resources & Income Trust<br>| 125838 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;478184 |
| Highland Income Fund<br>| &nbsp;&nbsp;53476 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;569519 |
| Nuveen Preferred & Income Opportunities Fund<sup>(d)</sup><br>| &nbsp;&nbsp;67620 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;538255 |
| Nuveen Taxable Municipal Income Fund<br>| &nbsp;&nbsp;20359 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;343253 |
| PGIM Global High Yield Fund, Inc.<br>| &nbsp;&nbsp;31868 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;377636 |
| PGIM High Yield Bond Fund, Inc.<br>| &nbsp;&nbsp;25251 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;329778 |
| PIMCO Dynamic Income Opportunities Fund<sup>(d)</sup><br>| &nbsp;&nbsp;82056 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1169298 |
| Western Asset Diversified Income Fund<sup>(d)</sup><br>| &nbsp;&nbsp;41698 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;590027 |
| Western Asset Emerging Markets Debt Fund, Inc.<br>| &nbsp;&nbsp;43805 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;418776 |
| Western Asset High Income Opportunity Fund, Inc.<br>| &nbsp;&nbsp;62550 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;254578 |
| Western Asset Inflation-Linked Opportunities & Income Fund<sup>(d)</sup><br>| &nbsp;&nbsp;40331 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;388387 |
| &nbsp;&nbsp;&nbsp;Total Closed-End Funds<br>(Cost $11,133,824) | &nbsp;&nbsp;&nbsp;Total Closed-End Funds<br>(Cost $11,133,824) | &nbsp;&nbsp;10318736 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | &nbsp;&nbsp;**Value** |
| **Preferred Stocks-9.03%** | **Preferred Stocks-9.03%** | **Preferred Stocks-9.03%** |
| **Communication Services-1.14%** | **Communication Services-1.14%** | **Communication Services-1.14%** |
| AT&T, Inc., Series C, Pfd., 4.75%<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58390 | &nbsp;&nbsp;&nbsp;&nbsp;$1225022 |
| **Financials-7.89%** | **Financials-7.89%** | **Financials-7.89%** |
| Arch Capital Group Ltd., Series G, Pfd., 4.55%<sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22523 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450235 |
| Bank of America Corp., Series L, Conv. Pfd., 7.25%<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;941 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1170792 |
| Bank of America Corp., Series QQ, Pfd., 4.25%<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35331 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;683655 |
| Capital One Financial Corp., Series L, Pfd., 4.38%<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19401 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;370753 |
| First Republic Bank, Series N, Pfd., 4.50%<sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19075 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;378639 |
| JPMorgan Chase & Co., Series EE, Pfd., 6.00%<sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45676 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1164281 |
| JPMorgan Chase & Co., Series JJ, Pfd., 4.55%<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58186 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1233543 |
| Wells Fargo & Co., Class A, Series L, Conv. Pfd., 7.50%<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;932 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1172447 |
| Wells Fargo & Co., Series Z, Pfd., 4.75%<sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55985 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1188561 |
| Wells Fargo & Co., Series CC, Pfd., 4.38%<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32482 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;652239 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8465145 |
| &nbsp;&nbsp;&nbsp;Total Preferred Stocks<br>(Cost $10,598,872) | &nbsp;&nbsp;&nbsp;Total Preferred Stocks<br>(Cost $10,598,872) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9690167 |
| **Money Market Funds-0.35%** | **Money Market Funds-0.35%** | **Money Market Funds-0.35%** |
| Invesco Government & Agency Portfolio, Institutional Class, 4.30%<sup>(e)(f)</sup><br>(Cost $375,276)<br>| &nbsp;&nbsp;&nbsp;&nbsp;375276 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;375276 |
| TOTAL INVESTMENTS IN SECURITIES<br>(excluding investments purchased with cash collateral from securities on loan)-100.27%<br>(Cost $105,802,355) | TOTAL INVESTMENTS IN SECURITIES<br>(excluding investments purchased with cash collateral from securities on loan)-100.27%<br>(Cost $105,802,355) | &nbsp;&nbsp;107541333 |
| **Investments Purchased with Cash Collateral from Securities on Loan** | **Investments Purchased with Cash Collateral from Securities on Loan** | **Investments Purchased with Cash Collateral from Securities on Loan** |
| **Money Market Funds-13.14%** | **Money Market Funds-13.14%** | **Money Market Funds-13.14%** |
| Invesco Private Government Fund, 4.36%<sup>(e)(f)(g)</sup><br>| &nbsp;&nbsp;3943579 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3943579 |
| Invesco Private Prime Fund, 4.59%<sup>(e)(f)(g)</sup><br>| 10145169 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10148212 |
| &nbsp;&nbsp;&nbsp;Total Investments Purchased with Cash Collateral from Securities on Loan<br>(Cost $14,091,708) | &nbsp;&nbsp;&nbsp;Total Investments Purchased with Cash Collateral from Securities on Loan<br>(Cost $14,091,708) | &nbsp;&nbsp;&nbsp;&nbsp;14091791 |
| TOTAL INVESTMENTS IN SECURITIES-113.41%<br>(Cost $119,894,063) | TOTAL INVESTMENTS IN SECURITIES-113.41%<br>(Cost $119,894,063) | &nbsp;&nbsp;121633124 |
| OTHER ASSETS LESS LIABILITIES-(13.41)% | OTHER ASSETS LESS LIABILITIES-(13.41)% | &nbsp;&nbsp;&nbsp;(14385661) |
| NET ASSETS-100.00% | NET ASSETS-100.00% | $107247463 |

---

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

------

January 31, 2023

(Unaudited)

---

| | |
|:---|:---|
| Investment Abbreviations: | Investment Abbreviations: |
| ADR | -American Depositary Receipt |
| Conv. | -Convertible |
| Pfd. | -Preferred |
| REIT | -Real Estate Investment Trust |

---

---

| | |
|:---|:---|
| 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 the exclusive property and a service mark of MSCI Inc. and Standard & Poor's. |
| <sup>(b)</sup> | Non-income producing security. |
| <sup>(c)</sup> | Security valued using significant unobservable inputs (Level 3). See Note 1. |
| <sup>(d)</sup> | All or a portion of this security was out on loan at January 31, 2023. |
| <sup>(e)</sup> | Affiliated issuer. The issuer and/or the Fund is a wholly-owned subsidiary of Invesco Ltd., or is affiliated by having an investment adviser that is under common control of Invesco Ltd. The table below shows the Fund's transactions in, and earnings from, its investments in affiliates for the nine months ended January 31, 2023. |

---

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;**Value<br> April 30, 2022** | &nbsp;&nbsp;&nbsp;**Purchases<br> at Cost** | &nbsp;&nbsp;&nbsp;**Proceeds<br> from Sales** | &nbsp;&nbsp;&nbsp;**Change in<br> Unrealized<br> Appreciation<br> (Depreciation)** | &nbsp;&nbsp;&nbsp;**Realized<br> Gain** | &nbsp;&nbsp;&nbsp;**Value<br> January 31, 2023** | &nbsp;&nbsp;&nbsp;**Dividend<br> Income** |
| &nbsp;&nbsp;Invesco Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;$689140 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$543334 | &nbsp;&nbsp;&nbsp;&nbsp;$(1193537) | &nbsp;&nbsp;&nbsp;$(189210) | &nbsp;&nbsp;&nbsp;$150273 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;$25712 |
| &nbsp;&nbsp;**Investments in Affiliated Money Market Funds:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Invesco Government & Agency Portfolio, Institutional Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28298 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8774399 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8427421) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;375276 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4235 |
| &nbsp;&nbsp;**Investments Purchased with Cash Collateral from Securities on Loan:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Invesco Private Government Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5227180 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37857633 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(39141234) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3943579 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75,547\* |
| &nbsp;&nbsp;Invesco Private Prime Fund | &nbsp;&nbsp;&nbsp;&nbsp;11906148 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77806172 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(79567614) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(900) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4406 | &nbsp;&nbsp;&nbsp;&nbsp;10148212 | &nbsp;&nbsp;&nbsp;&nbsp;207,194\* |
| &nbsp;&nbsp;Total | &nbsp;&nbsp;&nbsp;$17850766 | &nbsp;&nbsp;&nbsp;$124981538 | &nbsp;&nbsp;&nbsp;$(128329806) | &nbsp;&nbsp;&nbsp;$(190110) | &nbsp;&nbsp;&nbsp;$154679 | &nbsp;&nbsp;&nbsp;$14467067 | &nbsp;&nbsp;&nbsp;$312688 |

---

\* 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.

<sup>(f)</sup> The rate shown is the 7-day SEC standardized yield as of January 31, 2023. <br> <sup>(g)</sup> The security has been segregated to satisfy the commitment to return the cash collateral received in securities lending transactions upon the borrower's return of the securities loaned.

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

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

------

### Notes to Quarterly Schedules of Portfolio Holdings
January 31, 2023

(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.

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, 2023, for each Fund (except for Dynamic Large Cap Value ETF and S&P 500 Value with Momentum ETF). As of January 31, 2023, all of the securities in Dynamic Large Cap Value ETF and S&P 500 Value with Momentum ETF were valued based on Level 1 inputs (see the Schedules of Investments for security categories). The level assigned to the securities valuations may not be an indication of the risk or liquidity associated with investing in those securities. Because of the inherent uncertainties of valuation, the values reflected in the financial statements may materially differ from the value received upon actual sale of those investments.

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;**Level 1** | &nbsp;&nbsp;&nbsp;**Level 2** | &nbsp;&nbsp;&nbsp;**Level 3** | &nbsp;&nbsp;&nbsp;**Total** |
| &nbsp;&nbsp;Invesco Dynamic Large Cap Growth ETF |  |  |  |  |
| &nbsp;&nbsp;**Investments in Securities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Common Stocks & Other Equity Interests | &nbsp;&nbsp;&nbsp;$594538274 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;$594538274 |
| &nbsp;&nbsp;&nbsp;Money Market Funds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25770313 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25770313 |
| &nbsp;&nbsp;&nbsp;**Total Investments** | &nbsp;&nbsp;&nbsp;$594538274 | &nbsp;&nbsp;&nbsp;$25770313 | &nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;$620308587 |
| &nbsp;&nbsp;Invesco S&P 100 Equal Weight ETF |  |  |  |  |
| &nbsp;&nbsp;**Investments in Securities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Common Stocks & Other Equity Interests | &nbsp;&nbsp;&nbsp;$161046548 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;$161046548 |
| &nbsp;&nbsp;&nbsp;Money Market Funds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3619261 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3619261 |
| &nbsp;&nbsp;&nbsp;**Total Investments** | &nbsp;&nbsp;&nbsp;$161046548 | &nbsp;&nbsp;&nbsp;&nbsp;$3619261 | &nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;$164665809 |
| &nbsp;&nbsp;Invesco S&P 500 GARP ETF |  |  |  |  |
| &nbsp;&nbsp;**Investments in Securities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Common Stocks & Other Equity Interests | &nbsp;&nbsp;&nbsp;$2354131685 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;$2354131685 |
| &nbsp;&nbsp;&nbsp;Money Market Funds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1392130 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89460731 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90852861 |
| &nbsp;&nbsp;&nbsp;**Total Investments** | &nbsp;&nbsp;&nbsp;$2355523815 | &nbsp;&nbsp;&nbsp;$89460731 | &nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;$2444984546 |
| &nbsp;&nbsp;Invesco S&P MidCap Momentum ETF |  |  |  |  |
| &nbsp;&nbsp;**Investments in Securities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Common Stocks & Other Equity Interests | &nbsp;&nbsp;&nbsp;$1093964641 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;$1093964641 |
| &nbsp;&nbsp;&nbsp;Money Market Funds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;384820 | &nbsp;&nbsp;&nbsp;&nbsp;120953789 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;121338609 |
| &nbsp;&nbsp;&nbsp;**Total Investments** | &nbsp;&nbsp;&nbsp;$1094349461 | &nbsp;&nbsp;&nbsp;$120953789 | &nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;$1215303250 |
| &nbsp;&nbsp;Invesco S&P MidCap Quality ETF |  |  |  |  |
| &nbsp;&nbsp;**Investments in Securities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Common Stocks & Other Equity Interests | &nbsp;&nbsp;&nbsp;$431858609 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;$431858609 |
| &nbsp;&nbsp;&nbsp;Money Market Funds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;215097 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64332675 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64547772 |
| &nbsp;&nbsp;&nbsp;**Total Investments** | &nbsp;&nbsp;&nbsp;$432073706 | &nbsp;&nbsp;&nbsp;$64332675 | &nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;$496406381 |

---

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;**Level 1** | &nbsp;&nbsp;&nbsp;**Level 2** | &nbsp;&nbsp;&nbsp;**Level 3** | &nbsp;&nbsp;&nbsp;**Total** |
| &nbsp;&nbsp;Invesco S&P MidCap Value with Momentum ETF |  |  |  |  |
| &nbsp;&nbsp;**Investments in Securities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Common Stocks & Other Equity Interests | &nbsp;&nbsp;&nbsp;$225242413 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;$225242413 |
| &nbsp;&nbsp;&nbsp;Money Market Funds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;114470 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24787291 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24901761 |
| &nbsp;&nbsp;&nbsp;**Total Investments** | &nbsp;&nbsp;&nbsp;$225356883 | &nbsp;&nbsp;&nbsp;$24787291 | &nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;$250144174 |
| &nbsp;&nbsp;Invesco S&P SmallCap Momentum ETF |  |  |  |  |
| &nbsp;&nbsp;**Investments in Securities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Common Stocks & Other Equity Interests | &nbsp;&nbsp;&nbsp;$178058653 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;$178058653 |
| &nbsp;&nbsp;&nbsp;Money Market Funds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44621 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18196852 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18241473 |
| &nbsp;&nbsp;&nbsp;**Total Investments** | &nbsp;&nbsp;&nbsp;$178103274 | &nbsp;&nbsp;&nbsp;$18196852 | &nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;$196300126 |
| &nbsp;&nbsp;Invesco S&P SmallCap Value with Momentum ETF |  |  |  |  |
| &nbsp;&nbsp;**Investments in Securities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Common Stocks & Other Equity Interests | &nbsp;&nbsp;&nbsp;$747384956 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;$747384956 |
| &nbsp;&nbsp;&nbsp;Money Market Funds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;171456 | &nbsp;&nbsp;&nbsp;&nbsp;137699684 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;137871140 |
| &nbsp;&nbsp;&nbsp;**Total Investments** | &nbsp;&nbsp;&nbsp;$747556412 | &nbsp;&nbsp;&nbsp;$137699684 | &nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;$885256096 |
| &nbsp;&nbsp;Invesco Zacks Mid-Cap ETF |  |  |  |  |
| &nbsp;&nbsp;**Investments in Securities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Common Stocks & Other Equity Interests | &nbsp;&nbsp;&nbsp;$218686059 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;$218686059 |
| &nbsp;&nbsp;&nbsp;Money Market Funds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;276508 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15188084 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15464592 |
| &nbsp;&nbsp;&nbsp;**Total Investments** | &nbsp;&nbsp;&nbsp;$218962567 | &nbsp;&nbsp;&nbsp;$15188084 | &nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;$234150651 |
| &nbsp;&nbsp;Invesco Zacks Multi-Asset Income ETF |  |  |  |  |
| &nbsp;&nbsp;**Investments in Securities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Common Stocks & Other Equity Interests | &nbsp;&nbsp;&nbsp;&nbsp;$87157154 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;$0 | &nbsp;&nbsp;&nbsp;&nbsp;$87157154 |
| &nbsp;&nbsp;&nbsp;Closed-End Funds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10318736 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10318736 |
| &nbsp;&nbsp;&nbsp;Preferred Stocks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9690167 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9690167 |
| &nbsp;&nbsp;&nbsp;Money Market Funds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;375276 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14091791 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14467067 |
| &nbsp;&nbsp;&nbsp;**Total Investments** | &nbsp;&nbsp;&nbsp;$107541333 | &nbsp;&nbsp;&nbsp;$14091791 | &nbsp;&nbsp;&nbsp;$0 | &nbsp;&nbsp;&nbsp;$121633124 |

---

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

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

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

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

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

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

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

  - **City:** Downers Grove

  - **State:** IL

  - **Foreign country:** US

  - **Zip / Postal Code:** 60515

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

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

- **a. Name of Series:** Invesco S&P MidCap Momentum ETF

- **b. EDGAR series identifier (if any):** S000003056

- **c. LEI of Series:** 549300EBCSYSXC6B4270

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

- **a. Date of fiscal year-end:** 2023-04-30

- **b. Date as of which information is reported:** 2023-01-31

**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:** $1215686761.22

**Total Liabilities:** $121323853.59

**Net Assets:** $1094362907.63

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000008323 | 3.53%                | -6.60%               | 4.99%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $0.00                    | $35785903.68                               |
| Month 2  | $16669338.45             | $-91432052.91                              |
| Month 3  | $181613.68               | $50646029.30                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Wintrust Financial Corp.                  | Wintrust Financial Corp.                                   | CUSIP: 97650W108<br>LEI: Q774KI4AW80FHFW33O61 | Long             | EC               | CORP              | US        |    124687 | NS      | $11405119.89  | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Hancock Whitney Corp.                     | Hancock Whitney Corp.                                      | CUSIP: 410120109<br>LEI: 549300GRNBWY8HIICT41 | Long             | EC               | CORP              | US        |    146279 | NS      | $7530442.92   | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Louisiana-Pacific Corp.                   | Louisiana-Pacific Corp.                                    | CUSIP: 546347105<br>LEI: 549300C7E2UAO5BVRR75 | Long             | EC               | CORP              | US        |    117909 | NS      | $8028423.81   | 0.73%             |  |  |  | No            |                  1 | On Loan: —       |
| United Therapeutics Corp.                 | United Therapeutics Corp.                                  | CUSIP: 91307C102<br>LEI: 5299005C4HZL4UWROC14 | Long             | EC               | CORP              | US        |     99073 | NS      | $26073041.41  | 2.38%             |  |  |  | No            |                  1 | On Loan: No      |
| OGE Energy Corp.                          | OGE Energy Corp.                                           | CUSIP: 670837103<br>LEI: CE5OG6JPOZMDSA0LAQ19 | Long             | EC               | CORP              | US        |    642234 | NS      | $25252640.88  | 2.31%             |  |  |  | No            |                  1 | On Loan: —       |
| New Jersey Resources Corp.                | New Jersey Resources Corp.                                 | CUSIP: 646025106<br>LEI: 549300QKBSQBIX4DQ583 | Long             | EC               | CORP              | US        |    253498 | NS      | $12654620.16  | 1.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Carlisle Cos. Inc.                        | Carlisle Cos. Inc.                                         | CUSIP: 142339100<br>LEI: XR64VGX1ZPX6G7ZN7Z11 | Long             | EC               | CORP              | US        |    185189 | NS      | $46456512.54  | 4.25%             |  |  |  | No            |                  1 | On Loan: —       |
| Flowers Foods, Inc.                       | Flowers Foods, Inc.                                        | CUSIP: 343498101<br>LEI: 7YNCQQNDK8FBM9BBTK25 | Long             | EC               | CORP              | US        |    515377 | NS      | $14270789.13  | 1.30%             |  |  |  | No            |                  1 | On Loan: —       |
| nVent Electric PLC                        | nVent Electric PLC                                         | CUSIP: G6700G107<br>LEI: 21380063ZX54EUEMBR73 | Long             | EC               | CORP              | IE        |    292380 | NS      | $11622105.00  | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| AECOM                                     | AECOM                                                      | CUSIP: 00766T100<br>LEI: 0EEB8GF0W0NPCIHZX097 | Long             | EC               | CORP              | US        |    252478 | NS      | $22033755.06  | 2.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Curtiss-Wright Corp.                      | Curtiss-Wright Corp.                                       | CUSIP: 231561101<br>LEI: TEL51ETZWP7D0ZM4X325 | Long             | EC               | CORP              | US        |     86742 | NS      | $14381823.60  | 1.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Option Care Health, Inc.                  | Option Care Health, Inc.                                   | CUSIP: 68404L201<br>LEI: 549300DI3Q5ACSYJRI17 | Long             | EC               | CORP              | US        |    497490 | NS      | $14362536.30  | 1.31%             |  |  |  | No            |                  1 | On Loan: No      |
| BJ's Wholesale Club Holdings, Inc.        | BJ's Wholesale Club Holdings, Inc.                         | CUSIP: 05550J101<br>LEI: 549300UCIWH1C93V0J03 | Long             | EC               | CORP              | US        |    291712 | NS      | $21140368.64  | 1.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Kinsale Capital Group, Inc.               | Kinsale Capital Group, Inc.                                | CUSIP: 49714P108<br>LEI: 529900QTUQHNZ6HOA508 | Long             | EC               | CORP              | US        |     53688 | NS      | $14948886.72  | 1.37%             |  |  |  | No            |                  1 | On Loan: —       |
| Washington Federal, Inc.                  | Washington Federal, Inc.                                   | CUSIP: 938824109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    104059 | NS      | $3689932.14   | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Invesco Government & Agency Portfolio     | Invesco Government & Agency Portfolio, Institutional Class | CUSIP: 825252885<br>LEI: 5493007T1J7WZ5QI1A47 | Long             | STIV             | RF                | US        |    384820 | NS      | $384820.40    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Life Storage, Inc.                        | Life Storage, Inc.                                         | CUSIP: 53223X107<br>LEI: W9EE01AFDDF9DQCQZC68 | Long             | EC               | CORP              | US        |    139146 | NS      | $15033333.84  | 1.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Acadia Healthcare Co., Inc.               | Acadia Healthcare Co., Inc.                                | CUSIP: 00404A109<br>LEI: 5493005CW985Y9D0NC11 | Long             | EC               | CORP              | US        |    219856 | NS      | $18472301.12  | 1.69%             |  |  |  | No            |                  1 | On Loan: —       |
| Fluor Corp.                               | Fluor Corp.                                                | CUSIP: 343412102<br>LEI: CQ7WZ4NOFWT7FAE6Q943 | Long             | EC               | CORP              | US        |    379977 | NS      | $13964154.75  | 1.28%             |  |  |  | No            |                  1 | On Loan: —       |
| Southwestern Energy Co.                   | Southwestern Energy Co.                                    | CUSIP: 845467109<br>LEI: EFWMP121W54QV9MGOP87 | Long             | EC               | CORP              | US        |   2434169 | NS      | $13436612.88  | 1.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Ormat Technologies, Inc.                  | Ormat Technologies, Inc.                                   | CUSIP: 686688102<br>LEI: 5493000TSHHWY24VHM09 | Long             | EC               | CORP              | US        |     91057 | NS      | $8427325.35   | 0.77%             |  |  |  | No            |                  1 | On Loan: —       |
| Range Resources Corp.                     | Range Resources Corp.                                      | CUSIP: 75281A109<br>LEI: H3Y3WLYCX0BTO1TRW162 | Long             | EC               | CORP              | US        |    942702 | NS      | $23586404.04  | 2.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Cathay General Bancorp                    | Cathay General Bancorp                                     | CUSIP: 149150104<br>LEI: 549300K1SLJ8C97H5L68 | Long             | EC               | CORP              | US        |    131065 | NS      | $5761617.40   | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Knight-Swift Transportation Holdings Inc. | Knight-Swift Transportation Holdings Inc.                  | CUSIP: 499049104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    258561 | NS      | $15280955.10  | 1.40%             |  |  |  | No            |                  1 | On Loan: No      |
| HF Sinclair Corp.                         | HF Sinclair Corp.                                          | CUSIP: 403949100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    453879 | NS      | $25825715.10  | 2.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Exelixis, Inc.                            | Exelixis, Inc.                                             | CUSIP: 30161Q104<br>LEI: 254900PJQB59O2O95R37 | Long             | EC               | CORP              | US        |    635660 | NS      | $11200329.20  | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Greif, Inc.                               | Greif, Inc.                                                | CUSIP: 397624107<br>LEI: 54930070FVGKR0Z1FI24 | Long             | EC               | CORP              | US        |     52023 | NS      | $3716002.89   | 0.34%             |  |  |  | No            |                  1 | On Loan: —       |
| United Bankshares, Inc.                   | United Bankshares, Inc.                                    | CUSIP: 909907107<br>LEI: 5299005O3BAMJ9Z92V62 | Long             | EC               | CORP              | US        |    262141 | NS      | $10538068.20  | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Pilgrim's Pride Corp.                     | Pilgrim's Pride Corp.                                      | CUSIP: 72147K108<br>LEI: 549300ZSLGV64ZL3HD75 | Long             | EC               | CORP              | US        |    122210 | NS      | $2967258.80   | 0.27%             |  |  |  | No            |                  1 | On Loan: —       |
| Builders FirstSource, Inc.                | Builders FirstSource, Inc.                                 | CUSIP: 12008R107<br>LEI: 549300W0SKP6L3H7DP63 | Long             | EC               | CORP              | US        |    433119 | NS      | $34519584.30  | 3.15%             |  |  |  | No            |                  1 | On Loan: —       |
| Ashland Inc.                              | Ashland Inc.                                               | CUSIP: 044186104<br>LEI: 529900E4L9R04SB8HB11 | Long             | EC               | CORP              | US        |    106787 | NS      | $11668615.49  | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| INVESCO PRIVATE GOVERNMENT FUND           | INVESCO PRIVATE GOVERNMENT FUND                            | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             | PF                | US        |  33861761 | NS      | $33861760.92  | 3.09%             |  |  |  | No            |                  2 | On Loan: No      |
| Chart Industries, Inc.                    | Chart Industries, Inc.                                     | CUSIP: 16115Q308<br>LEI: EM7QGKC1GYOF3LSZSL80 | Long             | EC               | CORP              | US        |     64444 | NS      | $8634207.12   | 0.79%             |  |  |  | No            |                  1 | On Loan: —       |
| Prosperity Bancshares, Inc.               | Prosperity Bancshares, Inc.                                | CUSIP: 743606105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    164054 | NS      | $12445136.44  | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Insperity, Inc.                           | Insperity, Inc.                                            | CUSIP: 45778Q107<br>LEI: 5299000Q0KW7HY5DB751 | Long             | EC               | CORP              | US        |     59799 | NS      | $6610779.45   | 0.60%             |  |  |  | No            |                  1 | On Loan: —       |
| Avis Budget Group, Inc.                   | Avis Budget Group, Inc.                                    | CUSIP: 053774105<br>LEI: 529900E95812SYWMCE44 | Long             | EC               | CORP              | US        |     68732 | NS      | $13749149.28  | 1.26%             |  |  |  | No            |                  1 | On Loan: —       |
| Grocery Outlet Holding Corp.              | Grocery Outlet Holding Corp.                               | CUSIP: 39874R101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    186107 | NS      | $5655791.73   | 0.52%             |  |  |  | No            |                  1 | On Loan: —       |
| Murphy Oil Corp.                          | Murphy Oil Corp.                                           | CUSIP: 626717102<br>LEI: QBKYQD0ODE7DC7PDIN91 | Long             | EC               | CORP              | US        |    397639 | NS      | $17341036.79  | 1.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Black Hills Corp.                         | Black Hills Corp.                                          | CUSIP: 092113109<br>LEI: 3MGELCRSTNSAMJ962671 | Long             | EC               | CORP              | US        |    144899 | NS      | $10487789.62  | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Matador Resources Co.                     | Matador Resources Co.                                      | CUSIP: 576485205<br>LEI: 549300CI3Q2UUK5R4G79 | Long             | EC               | CORP              | US        |    366034 | NS      | $24216809.44  | 2.21%             |  |  |  | No            |                  1 | On Loan: —       |
| KBR, Inc.                                 | KBR, Inc.                                                  | CUSIP: 48242W106<br>LEI: 254900OFQDXZRKRCV808 | Long             | EC               | CORP              | US        |    409535 | NS      | $20980478.05  | 1.92%             |  |  |  | No            |                  1 | On Loan: —       |
| Coca-Cola Consolidated, Inc.              | Coca-Cola Consolidated, Inc.                               | CUSIP: 191098102<br>LEI: 57VG5X0E00X0QJU7CQ58 | Long             | EC               | CORP              | US        |      8873 | NS      | $4496658.94   | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| CNX Resources Corp.                       | CNX Resources Corp.                                        | CUSIP: 12653C108<br>LEI: 549300JK3KH8PWM3B226 | Long             | EC               | CORP              | US        |    468842 | NS      | $7843726.66   | 0.72%             |  |  |  | No            |                  1 | On Loan: —       |
| Fulton Financial Corp.                    | Fulton Financial Corp.                                     | CUSIP: 360271100<br>LEI: 5493005QLZ6O1BNC0C11 | Long             | EC               | CORP              | US        |    301078 | NS      | $5037034.94   | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Aspen Technology, Inc.                    | Aspen Technology, Inc.                                     | CUSIP: 29109X106<br>LEI: 254900545H80W6GA2J08 | Long             | EC               | CORP              | US        |     73701 | NS      | $14648073.75  | 1.34%             |  |  |  | No            |                  1 | On Loan: —       |
| NOV Inc.                                  | NOV Inc.                                                   | CUSIP: 62955J103<br>LEI: 549300EHF3IW1AR6U008 | Long             | EC               | CORP              | US        |    834225 | NS      | $20388459.00  | 1.86%             |  |  |  | No            |                  1 | On Loan: No      |
| INVESCO PRIVATE PRIME FUND                | INVESCO PRIVATE PRIME FUND                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             | PF                | US        |  87065909 | NS      | $87092028.17  | 7.96%             |  |  |  | No            |                  2 | On Loan: No      |
| Post Holdings, Inc.                       | Post Holdings, Inc.                                        | CUSIP: 737446104<br>LEI: JM1I5YUAURL6DC8N1468 | Long             | EC               | CORP              | US        |    132242 | NS      | $12556377.90  | 1.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Rexford Industrial Realty, Inc.           | Rexford Industrial Realty, Inc.                            | CUSIP: 76169C100<br>LEI: 549300MSLO0DF0EMX355 | Long             | EC               | CORP              | US        |    261045 | NS      | $16568526.15  | 1.51%             |  |  |  | No            |                  1 | On Loan: No      |
| International Bancshares Corp.            | International Bancshares Corp.                             | CUSIP: 459044103<br>LEI: 549300Y16R531AU8TX77 | Long             | EC               | CORP              | US        |     98135 | NS      | $4599587.45   | 0.42%             |  |  |  | No            |                  1 | On Loan: —       |
| Independence Realty Trust, Inc.           | Independence Realty Trust, Inc.                            | CUSIP: 45378A106<br>LEI: 549300Z3L8NU44NQEB29 | Long             | EC               | CORP              | US        |    441008 | NS      | $8304180.64   | 0.76%             |  |  |  | No            |                  1 | On Loan: —       |
| Commercial Metals Co.                     | Commercial Metals Co.                                      | CUSIP: 201723103<br>LEI: 549300OQS2LO07ZJ7N73 | Long             | EC               | CORP              | US        |    230213 | NS      | $12493659.51  | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Cullen/Frost Bankers, Inc.                | Cullen/Frost Bankers, Inc.                                 | CUSIP: 229899109<br>LEI: 529900V2E9G9AY665O34 | Long             | EC               | CORP              | US        |    146888 | NS      | $19136568.64  | 1.75%             |  |  |  | No            |                  1 | On Loan: No      |
| World Wrestling Entertainment, Inc.       | World Wrestling Entertainment, Inc., Class A               | CUSIP: 98156Q108<br>LEI: 549300WZVLSCS3L4L698 | Long             | EC               | CORP              | US        |    137126 | NS      | $11603602.12  | 1.06%             |  |  |  | No            |                  1 | On Loan: —       |
| Reliance Steel & Aluminum Co.             | Reliance Steel & Aluminum Co.                              | CUSIP: 759509102<br>LEI: 549300E287ZOFT3C5Z56 | Long             | EC               | CORP              | US        |    129677 | NS      | $29495033.65  | 2.70%             |  |  |  | No            |                  1 | On Loan: —       |
| Science Applications International Corp.  | Science Applications International Corp.                   | CUSIP: 808625107<br>LEI: 549300LZPNZIXQGZPZ48 | Long             | EC               | CORP              | US        |    100153 | NS      | $10393878.34  | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| American Financial Group, Inc.            | American Financial Group, Inc.                             | CUSIP: 025932104<br>LEI: 549300AFOM7IVKIU1G39 | Long             | EC               | CORP              | US        |    165446 | NS      | $23590945.14  | 2.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Belden Inc.                               | Belden Inc.                                                | CUSIP: 077454106<br>LEI: 68BKYO1JC791TTJHUE82 | Long             | EC               | CORP              | US        |    101821 | NS      | $8256664.89   | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Alcoa Corp.                               | Alcoa Corp.                                                | CUSIP: 013872106<br>LEI: 549300T12EZ1F6PWWU29 | Long             | EC               | CORP              | US        |    306342 | NS      | $16003306.08  | 1.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Avnet, Inc.                               | Avnet, Inc.                                                | CUSIP: 053807103<br>LEI: XJI53DCPL7QABOWK4Z75 | Long             | EC               | CORP              | US        |    187934 | NS      | $8622411.92   | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Halozyme Therapeutics, Inc.               | Halozyme Therapeutics, Inc.                                | CUSIP: 40637H109<br>LEI: 529900242I3SV9AGM753 | Long             | EC               | CORP              | US        |    245519 | NS      | $12710518.63  | 1.16%             |  |  |  | No            |                  1 | On Loan: —       |
| Murphy USA Inc.                           | Murphy USA Inc.                                            | CUSIP: 626755102<br>LEI: 549300Y081F8XIKQIO72 | Long             | EC               | CORP              | US        |     81734 | NS      | $22234100.02  | 2.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Healthcare Realty Trust Inc.              | Healthcare Realty Trust Inc.                               | CUSIP: 42226K105<br>LEI: 549300L0I14L7I0VLX84 | Long             | EC               | CORP              | US        |    760187 | NS      | $16366826.11  | 1.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Unum Group                                | Unum Group                                                 | CUSIP: 91529Y106<br>LEI: 549300E32YFDO6TZ8R31 | Long             | EC               | CORP              | US        |    368170 | NS      | $15474185.10  | 1.41%             |  |  |  | No            |                  1 | On Loan: No      |
| IDACORP, Inc.                             | IDACORP, Inc.                                              | CUSIP: 451107106<br>LEI: N134NUJDWN8UEFA8B673 | Long             | EC               | CORP              | US        |     87241 | NS      | $9230970.21   | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Southwest Gas Holdings, Inc.              | Southwest Gas Holdings, Inc.                               | CUSIP: 844895102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    160941 | NS      | $10771781.13  | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| CACI International Inc.                   | CACI International Inc., Class A                           | CUSIP: 127190304<br>LEI: SYRPI2D1O9WRTS2WX210 | Long             | EC               | CORP              | US        |     42954 | NS      | $13233697.86  | 1.21%             |  |  |  | No            |                  1 | On Loan: No      |
| ONE Gas, Inc.                             | ONE Gas, Inc.                                              | CUSIP: 68235P108<br>LEI: 549300HXDWI0LATTX840 | Long             | EC               | CORP              | US        |    120605 | NS      | $9933027.80   | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| DT Midstream, Inc.                        | DT Midstream, Inc.                                         | CUSIP: 23345M107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    282788 | NS      | $15457192.08  | 1.41%             |  |  |  | No            |                  1 | On Loan: —       |
| Silgan Holdings Inc.                      | Silgan Holdings Inc.                                       | CUSIP: 827048109<br>LEI: KAF673KJXD92C8KSLU49 | Long             | EC               | CORP              | US        |    151495 | NS      | $8164065.55   | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Home BancShares, Inc.                     | Home BancShares, Inc.                                      | CUSIP: 436893200<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    335676 | NS      | $8012586.12   | 0.73%             |  |  |  | No            |                  1 | On Loan: —       |
| Dycom Industries, Inc.                    | Dycom Industries, Inc.                                     | CUSIP: 267475101<br>LEI: 549300F56EKTHQI3WT60 | Long             | EC               | CORP              | US        |     74749 | NS      | $7128812.13   | 0.65%             |  |  |  | No            |                  1 | On Loan: —       |
| National Fuel Gas Co.                     | National Fuel Gas Co.                                      | CUSIP: 636180101<br>LEI: 8JB38FFW1Y3C1HM8E841 | Long             | EC               | CORP              | US        |    343942 | NS      | $19969272.52  | 1.82%             |  |  |  | No            |                  1 | On Loan: No      |
| H&R Block, Inc.                           | H&R Block, Inc.                                            | CUSIP: 093671105<br>LEI: 549300CE3KUCWLZBG404 | Long             | EC               | CORP              | US        |    607167 | NS      | $23667369.66  | 2.16%             |  |  |  | No            |                  1 | On Loan: —       |
| Service Corp. International               | Service Corp. International                                | CUSIP: 817565104<br>LEI: 549300RKVM2ME20JHZ15 | Long             | EC               | CORP              | US        |    355065 | NS      | $26328069.75  | 2.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Valmont Industries, Inc.                  | Valmont Industries, Inc.                                   | CUSIP: 920253101<br>LEI: 5493009ZGZJJ8F77JN08 | Long             | EC               | CORP              | US        |     39118 | NS      | $12898378.14  | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| PDC Energy, Inc.                          | PDC Energy, Inc.                                           | CUSIP: 69327R101<br>LEI: 5493008W8H2T511J5Y59 | Long             | EC               | CORP              | US        |    278356 | NS      | $18853051.88  | 1.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Cabot Corp.                               | Cabot Corp.                                                | CUSIP: 127055101<br>LEI: K05C0SER542GQ6VLRO68 | Long             | EC               | CORP              | US        |    146228 | NS      | $11015355.24  | 1.01%             |  |  |  | No            |                  1 | On Loan: —       |
| FTI Consulting, Inc.                      | FTI Consulting, Inc.                                       | CUSIP: 302941109<br>LEI: 549300K17GM8EQD0FQ48 | Long             | EC               | CORP              | US        |     63354 | NS      | $10106230.08  | 0.92%             |  |  |  | No            |                  1 | On Loan: —       |

### Signature

**Date Signed:** 2023-03-02

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

**Signature:** Sheri Morris

**Name of Signer:** Sheri Morris

**Title:** Vice President